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Ethics in Accounting Dr. Bailey, ACCT 7310
* 07/16/96 Ethics in Accounting Dr. Bailey, ACCT 7310 * 3/25/2017
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Agenda What are ethics? Ethical considerations
* 07/16/96 Agenda What are ethics? Ethical considerations Professional codes of ethics Institute of Management Accountants (p. 16) * 3/25/2017
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Ethics Defined What are ethics? Two philosophical approaches
Imply a connection with actions Concern what’s “good” or “right” to do Two philosophical approaches Duty-based Absolute laws (axioms) Consequences or outcome Utilitarianism (Teleological; effects) 3/25/2017
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Ethical Considerations
* 07/16/96 Ethical Considerations Decision making - factors Legal Profitable Ethical * 3/25/2017
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Ethical Considerations
* 07/16/96 Ethical Considerations Decision making - trade off right versus wrong right versus right costs, benefits * 3/25/2017
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4-Component Model What leads to ethical behavior? James Rest proposed a 4-component model: Moral sensitivity to interpret situation Moral judgment to decide what’s best Moral motivation or degree of commitment Moral character or courage to overcome temptation, etc. 3/25/2017
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Professional Ethics Accountants have traditionally ranked high in public opinion surveys of the ethics exhibited by members of different professions. 3/25/2017
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The Accounting Profession
* 07/16/96 The Accounting Profession Accounting profession is changing from information processor to consultant Competitive advantage- INTEGRITY AICPA Code of Professional Conduct IMA Statement of Ethical Professional Practice [visit website] The Institute of Management Accountants (IMA) is the largest association of management accountants in the United States. It provides a program leading to the Certified Management Accountant (CMA) certificate. * 3/25/2017
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Is Written Code “Good”? What message does it send?
Is it sufficient? Compare to rules vs. principles in GAAP Who originated the specific code? Motive? Enforceability? 3/25/2017
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Summary Ethics are internalized moral principles
* 07/16/96 Summary Ethics are internalized moral principles Increasing importance in business IMA Code of Ethics One basis Guides CMAs, other IMA members Provides a basis to deal w/ conflicts * 3/25/2017
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