6.1- Ethics and Professional Conduct in Business

Sybil Crumpton, Vice President of Operations for Bob Marshal Wilderness Bank, has instructed the banks computer programmer to use a 365-day year to compute interest on depository accounts (payables). Sybil also instructed the programmer to use a 360-day year to compute interest on loans (receivable)

Discuss whether Sybil is behaving in a professional manner?

When completing Case 6-1: Ethics and Professional Conduct in Business, consider the following Discuss whether Sybil is behaving in a professional manner or not and why. Are there different regulations in the banking industry that would allow Sybil to change the discount, or adjust the days calculated in the calendar year? How would adjusting the discount period impact interest expense or interest income? If you feel Sybil's actions are unethical, would that change if this is a long-time customer, she is doing a favor? What kind of sources to possibly use: A business article, online journal or source from the online library at NAU; highlighting interest income and expense, accounting in the banking industry, or how interest is calculated