ACC 260 Week 1 - DQ 2 - 7403

Solution Posted by
3number
Solution Detail
Price: $2.00
  • From: ,
  • Posted on: Wed 11 Apr, 2012
  • Request id: None
  • Purchased: 0 time(s)
  • Average Rating: No rating
Request Description


Discussion Question 2

? Due Date: Day 4 [post to the Main forum]

? Post your response to the following: Many methods are used to maintain high ethical standards in the accounting profession, including government regulations, ethics course requirements in schools, and professional societies or associations that maintain codes of ethics. What method do you think accounting professionals find most effective or beneficial? What method do you think would be most effective for ensuring high ethical standards in the accounting profession? Explain your answers.

I believe that it is a combination of methods. The most effective for the companies is the internal controls which I believe can help to keep the individuals honest. Also, screening employees can help, and even bonding employees can help to ensure keeping the high ethics standards. The associations help to maintain the guidelines for the accounting profession. But the best method I would say is the government regulations! This would help if the individual knew the consequences of being arrested and possible jail time.

OR
I would say the method that is most effective would be government regulations. They are probably most effective because the can fine companies and make them pay when they do not follow proper regulations. The government can take away licenses, or other means that companies need to run their business and make a profit. Most companies will do what is required to avoid the penalties. This method is probably the least beneficial in that any time the government gets involved in something there is usually waste and inefficiency. The government is good at wasting money and time, and making errors. The method that would be the most effective and beneficial would be to have individual responsibility within companies, and also internal controls to evaluate the accounting practices. Individual responsibility can come from learning ethical principles in schools and belonging to associations that hold to high ethical standards

Solution Description


Discussion Question 2

? Due Date: Day 4 [post to the Main forum]

? Post your response to the following: Many methods are used to maintain high ethical standards in the accounting profession, including government regulations, ethics course requirements in schools, and professional societies or