× Didn't find what you were looking for? Ask a question
Top Posters
Since Sunday
f
3
b
2
e
2
b
2
j
2
E
2
o
2
L
2
m
2
R
2
C
2
b
2
New Topic  
sunil1285 sunil1285
wrote...
Posts: 733
Rep: 0 0
6 years ago
What are the ethical issues involved?
Read 59 times
1 Reply

Related Topics

Replies
wrote...
6 years ago
Conflicts of Interest
An important issue to clarify in this connection is that the nature of the professional accountant's role involves inherent conflicts of interest which one must always be on guard against, including: self-interest related to standing with her CEO for future pay vs. her duty to the shareholders etc., and self-interest of the CEO vs. the shareholders' interests. Students should understand their fiduciary role as a professional.
Ethical Accounting Choices
Underlying the development of accounting standards is the desire to provide disclosure which respects or is fair to the interests of shareholders and others who need to get their information for decisions from the financial statements. Standards offer guidance for the choice of accounting practice and disclosure which, if it is to support the objectives of the accounting standards, must also be fair. Fair presentation, then, must not hide or suppress information which could be harmful to one of the stakeholders of the company. Stakeholders to be considered should include current shareholders as well as future shareholders. Unfair presentation would trigger a right which would be enforceable in court for significant compensation.
New Topic      
Explore
Post your homework questions and get free online help from our incredible volunteers
  573 People Browsing
Show Emoticons
:):(;):P:D:|:O:?:nerd:8o:glasses::-):-(:-*O:-D>:-D:o):idea::important::help::error::warning::favorite:
Related Images
  
 129
  
 351
  
 336
Your Opinion
What's your favorite coffee beverage?
Votes: 305