Overview

• Task: Share your insights about ethical issues in business and accounting in a discussion.
• Purpose: Gain a deeper understanding about ethical issues in business and accounting.
• Instructor: Will be available to answer any questions.

Background

In many companies (especially small ones that aren't audited every year), the accountant or accounting department is very powerful. Numbers produced by a company's accountants can be used as justification for bonuses, raises, benefits, and hiring or firing personnelincluding managers. Many other managers, officers, and owners don't understand enough about how the numbers get to the reports to question what the accountants tell them.

In addition to this, financial statements and analyses produced by accountants determine the future course of the company. Investors and creditors decide whether or not they will invest or lend money. Many say "numbers don't lie," but that is only true as long as the accounting is done competently and honestly.

Instructions

To successfully complete this assignment, follow these steps:

1. Respond to one or both of the following:
   • Discuss the power an accountant wields in an organization. How can the accountant ensure they are acting in the best interest of the company's stakeholders? How can the accountant be certain they are not being influenced by their own or someone else's agenda? How can the accountant recognize when they are being faced with a situation that includes a conflict of interest or an ethical dilemma and make the right choice?
   • Are other managers/employees faced with similar dilemmas? Name some situations where conflicts of interest or an ethical dilemma might arise in the course of their job and how they should deal with it.
     • If you have faced real ethical dilemmas at work and are comfortable sharing, the class would especially benefit from your experience and insight.
2. Post your thoughts and insights by midweek. You may include personal experiences.
   • Reply to those who respond to your thread.
   • You may pose questions for classmates after sharing your insights.
3. Respond to two of your classmates posts with well-reasoned comments and additional insights by the end of the week.