• The Golden Rule: "Do unto others as you would have them do unto you."Although, not really a theory, it is almost a universal basis for interpersonal behavior.• Utilitarianism: Individuals select actions that result in the greatest good or the least harm to society. This is sometimes broken down into act utilitarianism and rule utilitarianism.• Theory of Rights: The basic premise is that all people have certain fundamental rights that should never be violated. Theoretically, making decisions based upon the theory or rights is simple: you select the alternative that does not interfere with the rights of others. In practice, it is more difficult because the alternatives may infringe on the rights of different people. A classic example of this is the argument offer the issue of smoking in public places.• Theory of Justice: The operative words in this approach are: fair, equitable and impartial. This theory does not require that all people be treated the same unless all the facts are the same.In the subsequent chapters, we will be reviewing different issues in the business community and analyzing them. The following model can be used as a framework for your own postings and responses to others' postings.• Identify the ethical dilemma• Identify alternative actions• Identify the affected parties• Identify the effects of the alternatives on the parties• Select the best alternative.As a beginning to this series of discussions, please review the following and respond: As we are aware, ethical standards are not always followed in business.Describe the ethical climate in the organization where you work. Does the organization have a code of ethics and are employees aware of its existence? Do managers set a good example? If the ethical climate in your organization is poor, what problems, if any, did it create?Each discussion thread starts by raising a point of inquiry or a question. Then as the module progresses your professor will be expanding on the covered topics in the module until you feel confident that the major topics are discussed and understood. Do not forget discussion requirement per the course expectations.Accounting and Business EthicsAlmost every day, the business sections of our newspapers and television news broadcasts carry some kind of story dealing with ethical issues in accounting. Yet these sensational news stories may be only the tip of the iceberg. The larger mass of ethical problems in accounting consists of the many incidents that are never reported.It is particularly important to understand that unethical behavior is usually determined using hindsight. "Why did you do that?" is a very common question after an action has been deemed unethical or wrong. Most decision makers never consider beforehand the ethical ramifications of their decisions. Often, they simply select the action that is indicated by an analysis based on a conventional business decision-making model.One of the major benefits of studying ethics within this course and as a discussion is to benefit from the great diversity of our students. Individuals of differing backgrounds will bring different approaches and different values to our discussions. Differing approaches are good and combining the best aspects of several approaches can often produce a superior solution. Please be sure to read the comments carefully so that you understand the positions of other students in order to support them or argue against them.Included here is a brief list of some of the more popular ethical theories. It is presented here to assist you in framing your responses and

Please post a response, and respond to two other people's postings. Discussion topic 2 Charlie and Maribelle Brown have owned and operated a retail furniture store formore than 20 years. They have employed an independent CPA during this time toprepare various sales tax, payroll tax, and income tax returns, as well as financialstatements for themselves and the bank from which they have borrowed moneyfrom time to time. They are considering selling the store but are uncertain abouthow to establish an asking price. Prepare a brief written answer (no more than a couple of paragraphs) about whattype of information is likely to be included in the material prepared by the CPAthat may help the Browns establish an asking price for the store. Discussion topic 3 Now that you've read about what accounting entails, identify some servicesaccountants provide. Which ones peak your interest the most? Why? Discussion topic 4 Complete Exercise 1.2 at the end of chapter 1 and share with class a reference tothe article you found as well as a brief outline of its main topics. What are some of the most problematic issues in accounting profession today?Research and reference at least 2 authoritative sources to support yourviewpoints and conclusions. Discussion topic 5 How does accrual basis of accounting differ from cash basis? Which one isrequired by GAAP and why? What are some pros and cons of each basis ofaccounting?