Ethics and Professionalism in Accounting

AC 216 Ethics and Professionalism in Accounting Exam 1 Name SOLUTIONS Part I. seven-fold Choice (2 pts each, 40 pts total) Instructions Select the one best answer to each question. 1. The low fasten adjustment cognitive bias refers to a. placing too much signifi dirty dogce on the average value. b. placing significance on an erroneous prior value. c. overconfidence in ones finale based on insufficient information. d. placing too much significance on a value which is the hardest to rec altogether. 2. Which of the following characteristics typifies a complicated purlieu? . good practice. b. process reengineering. c. exclusive use of experts. d. best practice. c arguably makes sense but the name exclusive makes it less than the best answer. 3. Which of the following statements is correct a. Problems can be univers every last(predicate)y agreed upon, slice publicizes be subject to greater depth of debate. b. Problems and issues atomic number 18 both unceasingly univers everyy agreed upon. c. Issues can be univers onlyy agreed upon, while problems be subject to greater depth of debate. d. Problems are just the same as issues. 4.Deciding whether to use strawberry or grape jam on ones sandwich is a. not a moral issue because no real decision needs to be make. b. a moral issue because a choice between alternatives is required. c. not a moral issue because no component of harm exists. d. a moral issue because consequences are important. 5. Ksenia believes that success is under her witness control. She most correspondingly has a/an a. high internal locus of control b. high external locus of control c. high locus of control d. a lack of locus of control 6. Kohlbergs theories on ethical awareness state that . differing directs of ethical awareness exist. b. locus of control determines ones level of ethical awareness. c. most respective(prenominal)s reach a stage 3 level of ethical awareness. d. both A and C are correct. 7. Which of the following statements wishing Trevinos eight travel to ethical decision making are incorrect? a. The framework starts off with mechanical steps followed by personal ones. b. Identification of stakeholders and weighing alternatives are two separate steps. c. In real life decision making, not all eight steps are always followed. d.The role of intuition is not considered. 8. Which of the following ethical approaches is considered to be a confused framework? a. Kant ethics. b. Sidgwicks dualism. c. Love ethic. d. Existentialism. 9. The Existentialism approach is similar to the egoism approach in what regard? a. twain are teleological approaches. b. Both are deontological approaches. c. Both have a narrow individual focus. d. Both balance individual and group considerations. 10. Which of the following statements is correct? a. Business ethics deals exclusively with the theory behind right and wrong. b.Business ethics deals with the application of standards of right and wrong. c. Ethics and law are syno nymous. d. Ethics and ethics are exactly the same since both deal with application of right and wrong. 11. Which of the following describes law and ethics. a. They are exactly the same. b. Some legal actions may not be ethical. c. All ethical actions are to a fault legal. d. All legal actions are also ethical. 12. According to the textbook and class discussion, U. S. Federal Sentencing Guidelines a. Treat all firms equally despite their attempts to act ethically. b.Increase the severity of penalties for firms that tried to act ethically but failed to do so. c. examine to reduce the severity of penalties when a firm has tried to act ethically. d. Treat mis divvy up as a clear cut matter of right or wrong. 13. The argument for extreme ethical relativism fails because a. It is illogical. b. It advocates a consequentialist decision making framework. c. It advocates a mixed framework approach. d. Both A and C are correct. 14. Ethical conduct depends largely on a. Good decision making. b. Practical application of standards of right and wrong. . Making decisions when not all facts are known. d. All of the above. 15. Which of the following best typifys a Contractarian Ethics approach? a. Treating like cases in a consistent and fair manner. b. Focusing on overall collective benefit for society. c. reconciliation just actions for individuals only. d. Everyone should look out for themselves only. In this way, overall society benefits. 16. A set of practices, for polite society, putting green to a particular group is called a. etiquette. b. custom. c. law. d. professionalism. 17. According to Jim Collins great companies focus on a.Short-term goals only. b. Long-term goals only. c. Both short and long term goals. d. Neither short nor long term goals. 18. Intuitionalism a. is a mixed framework. b. emphasizes rules and exceptions to the rule. c. a deontological framework. d. Both a and b 19. Which of the following is correct regarding the definitions of the following ter ms? Morality Ethics a. divinatory Practical b. Practical Theoretical c. Theoretical Theoretical d. Practical Practical 20. Which of the following statements regarding business ethics is incorrect? a. The mechanics of thinking and decision making are key components. b. Use of different approaches and frameworks always yields the same decision since there is always a best option. c. Decisions often need to be made when all facts are not known. d. Just because more than one option exists, it does not mean that all options are acceptable. Part II. Essay (20 points each 60 points total)Prepare a proper essay response to all three of the questions appearing below. 1. Define the notion of an ethical dilemma. What tests are available which help to indicate the front line of an ethical dilemma? 2. If you had to exact just one of the philosophical approaches discussed in this chapter to guide your decision making, which would you choose? Why? Or, if you had to rank them from most t o least helpful, how would you rank them? 3. Citing an example to help illustrate your point, define and have got the 8 steps recommended in ethical decision making as discussed by Trevino.

Letter to Newspaper Essay

traditionally prominent learners are students who are pursuing education in either, college (undergraduate or graduate degrees), vocational or occupational programs, continuing education or noncredit courses, correspondence courses and tutoring, as well as courses and other educational activities provided by employers, community groups, and other providers (Adult Learner, 2012). The average age of an freehanded learner is 25 geezerhood or older, it usually is a diverse group of people (Adult Learner, 2012). These cock-a-hoop learners can be an independent student, employed full time, a person with dependents, a person who as a closure of a death or divorce, is now single and wishes to complete a degree program and a veteran of the United States military (Adult Learner, 2012). There also the lifelong learners who generally have additive responsibilities such as family, career, military, or community, and are seeking a degree or other educational offering to enhance their profess ional and or personal lives (Adult Learner, 2012).Education is any formally merged learn activity in which there are an instructor and curriculum. According to Bringhamton University (2012), the largest and fastest expanding market plane section for higher education is the adult learner. Universities and colleges need to adjust their infrastructure to attract better and serve adult learners. There is less high school graduates entering colleges versus the adult learner (Demographics, 2012). With less traditional patriarchal students and more non-traditional or adult learners there will be less public support, political leverage, and legislative support to finance an educational system that is designed primarily to serve the needs of traditional time-honored students without considering the special needs of a more age diverse student body (Demographics, 2012). There is a push in Washington for more federal dollars in adult training. They believe thereturn on trustment (ROI) fro m adult education and training is positive as billions of dollars could be earned, saved, and pumped back into the struggle economy (Gonzalez, 2011).The argument at capital is that adult education actually saves goernments money by trim down societal healthcare, public assistance, and incarceration costs. It also improves and expands the nations available pool of workers by portion motivated, but undereducated people get jobs (Gonzalez, 2011). The theory of adult learning is the assumptions about how adults learn. Emphasizes the value of the dish up of learning in adults (Adult Learning Theory, 2007). Malcom Knowles and American practitioner and theorist of adult education outlined is as an art and science of helping adults learn (Adult Learning Theory, 2007). Knowles also defined sextette adult learning principles as adults are internally motivated and self-directed, adults bring life experiences and knowledge to learning experiences and are goal orientated. They also relevanc y oriented and are practical learners who like to be consider when in the classroom (Adult Learning Theory, 2007).As educators, we need to foster the adult learners internal motivation to learn. Develop a rapport with the adult learner, encourage them to ask questions and explore concepts. both(prenominal) adult learners come with years of experience and knowledge, with this as an instructor or teacher we need to ingathering this information and have them apply it to their new learning experiences. The need to for effective adult education over the past few years have increased. It is important we support adult learners. As with the increasing adult learning population, we are also increasing our nations available pool of workers. It is important that we invest in adult education as it nurtures creativity, imagination and fulfilling lives.Investing in adult education is also important for families, communities and our country as a whole. Education is an important first trample f or some adult learners as it is a second chance in learning. Adult education is a great way for students that didnt finish high school to get their high school lambskin and continue on with their lives. Adult education is usually at night, so that the adults who attend it may excuse continue to go to work. This allows theses adults to continue to progress in their lives while adding more education to their resume and mind.References congruous familiar with adult learning theory and the six principles of adult learning. (2007). Retrieved from http//www.qotfc.edu.au/resource/?page=65375 Gonzalez, J. (2011). Adult-education leaders lambaste capitol hill to push for more federal dollars. The Chronicle of Higher Education. Retrieved from http//chronicle.com/article/Adult-Education-Leaders-Visit/127448/ The effects of changing demographics on higher education. (2012). Retrieved from http//www.binghamton.edu/cice/documents/NYSTAKeynotePPT.pdf Who is an adult learner? (2012). Retrieved fr om http//universitycollege.illinoisstate.edu/adult/who.shtml

Real World Experience #2 Essay Example | Topics and Well Written Essays - 250 words

Real World Experience 2 - Essay ExampleI am running a small business of ready-made dresses. I have hired some labor workers who are working at the back office epoch all the dealings at front office are conducted by me. From the last two months I have been observing that the quantity of the final dresses at the end of month is decreasing. Though the quality of the uniform and the work was same but problem was with the number of dresses. I was in trouble that if the quantity continues to return it will definitely adversely affect the sales and thus whole revenues will be disturbed. directly my focus was to find out the cause behind the fallen quantity of output product. After sleepless analysis of the workers I caught the reason. They were wasting their time in idol talking and many other such(prenominal) small activities which actually kills their valuable time but they were unknown to this fact. They had the potential to do more and in an enhanced quality but they were misusing their precious time. Now the responsibility came on my shoulders. I had to choose a middle way that will solve the problem and also employees may not feel anything problematical about their work place behavior.I believe on performance management concepts very much. My whim is that the incentives and bonuses really boost up the energy of the employees. And the research has also proved that the rewards really pump up the employees (Mayhew, 2013). So I did the same trick in my problem. I announced that the bonus which was given per annum to the employees is now attached with the monthly performance of the employees. Every single employee will be rewarded more whose output is more than others. According to my opinion this would definitely work and by luck I got the best results. The output quantity was increased in the very next month because employees really work hard to introduce more bonus reward. Therefore it

Sustainable Development and Underlying Contradictions Essay

Sustainable phylogeny and Underlying Contradictions - Essay ExampleAs Pless, Thomas & Gnter, sustainable development commences at the condemnation of producing the raw materials and here the farmers atomic number 18 the owners of the projects, which foster on sustainable development. The experts inform the farmers on the need and the importance of using the eco-friendly means to produce the raw materials with fewer impacts on the lives of the people. After this consideration, the sustainability strikes up to the industrial manipulation of the products (Pless, Thomas & Gnter 2012, p 902). The products before they are processed or even after should non be contaminated in the process of manufacturing it. The sustainable means of production in the industries should be richly incorporated into the production of the products (Monsanto part Study, 12).Though at the point of production, the company should try all its best to be efficient in the production, but should also consider th e effects of the production on the lives of the people and the perfect environment. The supply of the products should be environmentally and socially friendly in the sense that the process of supplying the products should be free from any form of pollutant or contaminate the products in the course of transporting the products to the consumers (Taman 2014, p 15). The consumption methods of the consumers are also of great implications to the achievement of objective sustainability. When given mode of consumption contributes to the contamination of the environment (Monsanto Case Study, 23).

The process of economic development and its effects in China in 1950s Research Proposal

The process of sparing development and its effects in China in 1950s - look into Proposal Examplee considerable damaged after the war, which became the reason that the food production decrease to approximately 30% lower than the peak level, which was achieved before the war. All these factors lead the Chinese economy in crises and the country had to face the hyperinflationary environment. The Chinese Govt aimed to restore the economy to its normal level within the time cover of 3 years. In beau monde to achieve the goal of scotch domesticatey, the Govt started working with full devotion to recover all the losings. The recovery phase began with the reconstruction of the transportation strategy on with the recovery of other losses such as loss of communication system and invests on farming to recover the natural resources. The aboriginal bank of China, which is named as Peoples bank of China, was established in the year 1948 with the responsibility of maintaining the monetary control along with the regulation of all the financial institutions within the jurisdiction of China. During the establishment of Peoples Bank of China, the banking system was neither nationalized nor centralized. During the economic recovery phase of China, all the financial institutions were nationalized and centralized. The regulating authority of the banking system remained the Peoples Bank of China. In order to control the high inflation, which was generated due to the effects of the World War II, the Govt of China decided to synchronize the economic structure of China by centralizing the financial market of China (Mark 2013).The purpose of centralizing the banking system was that the monetary system could be unified. The Govt initiated the decisions to control the economy which includes monetary policy and extremely restricted source facility. Another reason behind such restricted economic policies during the period of 1949 to 1952 was that the Govt had very restricted cyph er to recover the economy. In addition to this, during the same period Govt was compelled to also manage the

International trade Operations individual 5 Essay

International job trading operations individual 5 - Essay ExampleDifferent countries have varying tariffs and perceptions on international flip which may affect the business positively or negatively. Researching before hand can guarantee a business profits by maximizing on countries with good free and moderately trading conditions. entering International get by has changed practically over the last decades. Most countries have gotten to agreements which ensure free and comme il faut trade among them. Countries and individuals producing the various products in their respective countries benefit a lot. Some people have take rich as a result of international trade. However, there argon goods which are better traded on the international front compared to others. Businesses and individuals looking to succeed in the international market should focus on goods that do better in that market. At the same time, they must have good marketing strategies understand the passing between fr ee and fair trade and who benefits in what trade. Concepts of Free conduct Free trade is trade focused between countries and large companies. Different countries agree on tariffs and taxation of the imported and exported goods with the objective of enhancing sparing growth among countries. In fact, the main principle of the free trade is comparative advantage to countries and multinationals with agreements with each other. Businesses knobbed in these trades are usually very powerful and influential that the governments do not have much control over them. The agreements made are not necessarily good for the primary producers. In fact, most are the cases the primary producers are affected by the free trade negatively. Policies governing free trade agreements are made by the respective country governments under the influence of the large multinational companies (Nolen and Quinn, 1994). Concepts of reasonably trade Free trade is different from the free trade in that it puts emphasis on the producers of goods (World sane Trade Organizations, 2009). In most cases, the producers receive less compared to the end buyer and the brokers. The recognition that the primary producers are disadvantaged led to proposals to ensure they benefit better for their hard work. Fair trade attempts to enable the petite scale producers and cooperative to become income sufficient and ownership. This is done by ensuring that fair trade buyers are ready(prenominal) and can buy the products at a good price. Organizations involved with far trade ensure that fair trade practices are followed accordingly. On the side of the producers, they have to ensure good working conditions for the entire prole regardless of their gender and race. They also have to ensure they follow international guidelines on wage and labor. In this case, they have to pay all the workers well and ensure that all workers are grown ups. Another involvement free trade incorporates is the respect for the environment . Primary producers are tasked to protect the environment and enhance environmental vindication (Renard, 2003). Some businesses have taken advantage of the fair trade for their own selfish gains raising questions whether so fair trade is fair (Maseland & Vaal, 2002). Fairly Traded products There are quite a number of passably traded in the world according to Fair Trade International. Milk is not among the fairly traded goods internationally (Fair Trade International, n.d). However, there are some countries and multinationals which have successfully implemented fair trading of milk and milk

Gulf Regional Legal Environment of Business Essay - 4

Gulf Regional Legal Environment of Business - Essay ExampleRules are demand in from each one of our lives since it gives us justification when we are victims and encourages in punishing un rightfulnessful acts. Individuals who do not obey the laws and subject us to oppression have to face the consequences. If we were to live in a society without laws that can control how we handle things, most of us would be taken advantage of by our superiors and thus we will suffer. Without laws, people make decisions based on their principles hence facilitating crimes. Laws therefore prevent each of us in the society from crimes.The parental principle of law protects individuals from themselves. Laws state that all children must go to school. Most children would not naturally like the idea of going to school. Laws also protect some of the employees from universe exploited by their employers. The donation principle of law enables employees acquire services pertaining to their welfare. Welfare laws grant aid to the individuals unable to provide for themselves.Maintaining social glueyness is one of the roles of legislation in the society. Laws ensure that social cohesion is maintained by reinforcing values and providing ways of solving conflicts (NAIM, 2002, p. 27). Social cohesion is vital in a society as it provides continuity of the principal values of a community by providing guidelines. The current sound system in our society gives people freedom besides setting the limits regulating such freedom. A legal system is important in the modern society as it helps in protecting everyone in the society. Child-abuse in the contemporary modern society is curbed through laws (CAMPBELL & CAMPBELL 2009, p. 56). Law does not take into consideration the in the flesh(predicate) or religious needs but focuses on protection of rights. Whether the man confesses or repents of the sins they have committed, law does not give adjustments but follows what is in course. Laws are, therefore , important in the society as they give protection to members of a particular