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Ethics Accounting Industry

Good Ethics In Accounting Industry

Ethics In Accounting Industry

In my point of view, business ethics follow the evolution of public sentiment to reflect morally acceptable operating policies. And similarly accounting ethics can be considered as a code of conduct of a company. Today, world’s best companies are not only known because of their profit margins but because of the business ethics these companies followed in all respects.

As I think, ethics forms an integral part of a company. People show willingness to buy shares of a company only if they are satisfied by its ethical companies. Ethics in accounting industries has brought challenges for decision makers. Thus, they should be careful before taking any decision.

As I understood, the concept of accounting ethics in any organization can change its financial strategy. And this study helps to find out the various dimensions of accounting ethics and business ethics and its implications in our practical life. The usual approach to ethical theory in business ethics texts is to present either in cursory from or sometimes in greater detail the theory of utilitarianism based on the writings of Frederick et al. (1990) as representative of a more general class of teleological ethics, and ethical theory related to the corporate business as representative of the deotological approach to ethical decision making. Sometimes the decision I took changed my policies and thus I am very careful about accounting ethics.

In the coming time, if I will face any critical situation related to ethics then I must take suitable decision to solve my problem. In this way my reaction towards accounting ethics can change my perceptions and policies. This study is also going present certain notions of ethical business, usually going into the research of different philosophers and their thoughts of ethics. It also generally includes a discussion of rights, and at times, some variation of virtue theory. (Frederick et al. 1990, 17-28) Finally, in this study I may find suitable concepts of modern business and ethics.

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Today, the standards of business ethics are practiced by every global industry. Business ethics is a broad concept, but what I have left in this approach is a kind of ethical smorgasbord in which one chooses from various theories that are supposed to shed some light on the ethical problems under consideration and lead to a justifiable decision.

But I are never told to any extent exactly how I are to decide which theory to apply in a given situation, what guidelines I are to use in applying these different theories, what criteria determine which theory is best for a given problem, and what to do if the application of different theories results in totally different courses of action. Further, what implications does switching back and forth between theories and their corresponding principles have for the ethical enterprises as a whole?

Frederick et al. (1990) usually recognizes the problem but do not deal with it to any great extent. For example, after presenting the theories of consequentialism, deontology, and what they call human nature ethics which seems to be a variation of virtue ethics. Thus, I highlight major issues related to accounting ethics from different perspectives. One topic of growing concern in business ethics is the relation of business to the natural environment and the ethical issues inherent in that relationship. (Frederick et al. 1990, 55-75)

The natural environment is becoming increasingly important as environmental problems impinge themselves on business and society. Yet when it comes to ethical issues with respect to the environment, business ethics is confronted with another area of ethics, environmental ethics that has separate body of literature, different professional organizations, and disparate scholars and educators.

Attempts are being made to overcome the chasm between business ethics and environmental ethics through the establishment of new overlapping groups, through joint sessions at various organizational meetings, through special conferences, and through books and papers, all concerned with environmental issues both from managerial and ethical perspectives.

However, a stronger bridge needs to be formed to allow dialogue between these fields to begin at a deeper, theoretical level. (Frederick et al. 1990, 69-95) For, most important to understanding the chasm involved, the field of environmental ethics by and large rests on theories and conceptual foundations quite different from those of business ethics. This separation poses numerous practical as well as pedagogical problems for the field of business ethics, and as the concern for the natural environment gains in importance, these problems can only multiply. There are without a doubt many historical and institutional reasons for the separate development of these fields. (Frederick et al. 1990, 75-90)

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The rooted material of the firm in its cultural environment can best be understood in terms of the dynamics of adjustment whereby a culture and its institutions mutually affect each other. Business institutions affect the culture, and as the culture adjusts this adjustment in turn affect the direction of the ongoing development of corporate activity.

As these dynamics have worked themselves out over time, the changes taking place can perhaps be viewed in terms of successive conceptual shifts among three major moral frames in which market activity has been placed. Through this process the market system gradually gained its independent stature and dominating force.

The best place to begin this discussion is with a focus on the role of the Protestant Ethic, the moral framework that informed the development of the market system and provided legitimacy for its existence by offering a moral justification for the pursuit of wealth and the distribution of income that resulted from economic activity within this system. The accounting ethic not only had deep implication regarding the economic conduct of people who were a part of the system, it also had mathematical implications in that belief in the business ethic provided a moral legitimacy for the system and infused its adherents with moral purpose. (Velazquez, 1992)

Business is the range of commercial organizations and their activities that characterize the way in which trading is conducted in a modern economy. (Frederick et al. 1990, 22-27) It is concerned with the management of factors leading to the production of goods and services and the ways they are brought together and delivered to a customer. Business refers to the organizations that carry out such operations, how they are structured and what drives and motivates them. (Frederick et al. 1990, 117-130)

It is about the financing, marketing, the legal framework, collection and transfer of information, the human skills, training and behavior of the individuals who carry out these trading patterns. These activities cannot be tied to any one industrial sector or to any one geographical location and so the ways they interact with the environment are harder to identify. Nevertheless, I feel it important to distinguish between business methods that can be common to all types of industry and specific industrial sectors, which have distinct sets of relationships with the accounting principles.

Reference

Frederick, Robert, Michael Hoffman, Edward S. Petry Jr. (eds.). 1990. Business, Ethics, and the Environment: The Public Policy Debate. New York: Quorum Books.

Velazquez, Manuel. 1992. Business Ethics: Concepts and Cases. New Jersey: Prentice Hall Publishing.

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