Finance

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Finance

Accounting is the information system that measures business activities, processes that information into reports, and communicates the results to decision makers. Accounting is often called the language of business(Horngren, 1). Within the language of business ethical behaviors are and should be monitored. The Financial Accounting Standards Board (FASB) monitors the accounting professionals. These accounting professionals hold positions such as the American Institute of Certified Public Accountants (AICPA), Institute of Management Accountant (IMA), Certified Public Accountants, and Certified Management Accountants. The Values added Rules and values in ethical decision making article discusses four steps to ethical decision making of which will be discussed in its entirety later on in the paper. The article demonstrates through the process of ethical accounting rules this could help the employee and the organization. In the event that it does not help the employee, Verschoor suggest resigning from the company.

Ethics is the moral standard that guides professional decisions. Some of the problems that companies face are employees that do not follow set guidelines that have been incorporated in the company. In addition to enforcing ethics there are four steps that companies should follow to reinforce company ethics.

· Identify the facts and the issues




1. Who will be affected by (who are the stakeholders of) my decisions?

. What will be the short and the long-term consequences of possible courses of action?

· Identify applicable values

1. How possible courses of action impact potential stakeholders?

. What considerations should I have with regard to

· The rights of stakeholders

· Justice among stake holders

· The short and long-term balance of good among stakeholders

· Stakeholders to whom I am justifiably partial?

· My gut feeling about what is the right thing?

· What I think those whom I respect for their virtue would judge to be the right thing

· Seek Help if needed

1. Which course of action might keep me awake at night

. Can my supervisor or the Human Resources department provide guidance

· Reach the best decision based on the available information

1. Is my decision legal and within the organization policy

. Do organizational values and my personal values support my decision? (Verschoor, 000)

I am the accounting payroll clerk for my job and there is also peer that handles the expenses part of accounting of which is scrutinized very carefully. The accounting department has to handle all matters as fragile as possible because none of the engineers are on site. Therefore we have to check and then recheck and then check again to make sure all documentations are correct. We exercise the four above mentioned steps primarily to make sure all monies are being distributed properly. I believe this policy should be updated, reviewed every six months so that no fraudulency will never slip through the cracks. For instance let’s take the submitting of a time sheet, in order for the employee to get their proper pay per every two weeks, they have to list the hours worked, the job number for the hours worked the project number that is attached to the job number along with their signature, the clients signature and the company. By doing this it will ensure that there is no fraudulent timesheets being paid. Although, there was one employee caught behaving unethically. He turned the same timesheet that he was paid for two months prior but just changed the date, but because I keep record of all time sheets I was able to identify the duplicate timesheet immediately. Fortunately he was not awarded the money because of the misappropriate behavior and the company was saved from theft.

Although the above mention ethical steps are appropriate for companies to incorporate some employees will still behave unethically. Basically employees will ultimately do what the hearts desire, I am sure some companies are more lenient than others when it involves ethics. On the contrary when it comes to behaving unethically in the area in accounting I believe companies should be very strict; because proper accounting coupled with following company ethics is the adhesive that helps companies stay in business. Accounting ethics are very important, not only will it save the company money but also the employee’s jobs.

References

Gitman, L. J., Horngren, C. T., Harrison, W. T. Jr., & Bamber, L. S. (00). Financial

analysis for managers (Vol. I). Boston Pearson Custom Publishing.

Verschoor, Curtis C (000) Values added Rules and values in ethical decision making. Montvale Institute of Management Accountants



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