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Accounting Responsibility
Responsibility of managers in managing projects and creating budgets
Managerial ethics is essential in managing projects and creating budgets. Ethical accounting ensures all financial information is reported to business owners, directors or managers. Managers who fail to report negative information or use a company's internal financial information for personal gain can create serious legal situations for businesses (Vitez, N.d.). Business owners and managers often require all information, whether good or bad, when reviewing business operations and making decisions. It is also important to create accurate budgets. There is often a temptation to tweak budgets to fulfill personal goals. For example, if you favored a particular project you may try to make it more appealing financially. However, it is necessary to be as objective as possible to ensure that you create budgets ethically.
Accountable for achieving financial performance targets
Managers are often under immense pressure to meet financial performance targets. In some cases this can lead managers to make bad decisions. For example, managers can perform activities that are not necessarily in the organizations best interest but help them reach their financial targets. This can be done legally and was as illegally. For example, a manager might transfer inventory...
While this might not technically be illegal, it is most likely unethical if they are doing it simply to make their performance look better on paper. Managers have a responsibility to stakeholders to account for their performance accurately and with transparency.
Discuss accountability/responsibility and relate back to Scripture.
"Give, and it shall be given unto you; good measure, pressed down, and shaken together, and running over, shall men give unto your bosom. For with the same measure that ye mete withal it shall be measured to you again." Luke 6:38 (Fooshe, N.d.)
Accountability and responsibility are both measures of personal integrity. There are many parts of scripture that can be used to support the ideal of upholding personal integrity. Maybe one of the most fundamental principles that supports this notion would be the golden rule.
Decision-making in cost accounting with a focus on ethics (Accountability/Responsibility part of it)
he ethics of a business is currently a high profile issue owing to sensational corporate scandals that had taken place in many countries causing extensive damages to the economy and society; these corporate scandals question the morality of businessmen in general and accountants in particular (Senaratne, 2011). It is common to frame…
Works Cited
Fooshe, G. (N.d.). 10 Financial Principles that are Biblical. Retrieved from Back to the Bible: http://www.backtothebible.org/10-financial-principles-that-are-biblical.html
Senaratne, S. (2011, July/August). The role of ethics in accounting. Retrieved from CIMA: http://www.cimaglobal.com/Thought-leadership/Newsletters/Regional/The-CIMA-Edge-South-Asia-and-Middle-East/20111/July -- August-2011/The-role-of-ethics-in-accounting/
Vitez, O. (N.d.). About Ethics in Managerial Accounting. Retrieved from Small Business: http://smallbusiness.chron.com/ethics-managerial-accounting-3737.html
Accounting Information for Decision Making Corporate Confirming on Water Risk (Feb 2010) indicates that the Global Confirming Initiative (GRI) G3 Guidelines' five water-related indications (total withdrawal volume by source, ponds considerably impacted by distributions, percentage and total amount of water recycled and used again, total water discharge by quality and destination, and identification water physiques and related habitats impacted by discharges) make the perfect beginning point for assessing and confirming water
Ethics Employees and business management personal are taught business ethics as a fundamental guideline. It is tasked with assigning a particular meaning and role to business on the whole. Taking ethical decisions entails keeping certain aspects in mind. Written below is a brief argument on the points regarding ethics and a scenario is setup where business ethics are employed. In layman words, business ethics entails working within reasonable means in a financial
" To that end, the Treasury Department would limit executive compensation for institutions receiving "exceptional assistance" (Geithner and Summers, 2009). Troubles continued in the financial sector -- both Citigroup and the Bank of America needed second rounds of capital infusions, and federal guarantees against losses totaling tens of billions more -- while Ben S. Bernanke, the Federal Reserve chairman, warned that more capital injections might be needed to further stabilize the
However, they have also changed the face of the accounting profession in a way that will affect the education and conduct of accountants in the future. In the future, the accountant will have to do more than to balance the books. In order to understand the potential educational requirements for accountants in the future, we will examine how they have changed historically and then apply the changes that have
Decision Support System (DSS) Assuring a safe and secure it (IT) atmosphere for that exchange of business has been a significant problem. The degree related to the task has been increasing annually, as assailants become a little more well-informed, more driven, and more vivid within their endeavours. Based on a lead security professional at International Data Corporation, a worldwide supplier of marketplace data and advisory services to the IT network, "Rising
Therefore, corporations have had to change their viewpoints and start looking at the long-term consequences of their behavior, as well as looking at the bottom line. Businesses also have to be concerned because consumers have also become aware of environmental concerns, and many consumers are demanding earth-friendly products and have shown a willingness to pay more money to competitors who observe environmentally-friendly practices. Interestingly enough, this demand has given rise