NAME AND DISCUSS FIVE ACCOUNTING UNETHICAL ISSUES AND/OR METHODS. DISCUSS ITS RAMIFICATIONS AND REMEDIES.
A practice of keeping records, identifying, summarizing and maintaing financial/economic information is called accounting.
Accounting deals with ethical and unethical methods which reflects our company conduct to public. Now, let us discuss about accounting Unethical issues and methods.
In a financial norm unethical issues are seen as a result of ethic code violation. Following are few issues: Greed : Intension to earn huge profits
Corruption : Offering bribery
Discrimination : Gender discrimination
Deception : Being tricky or dishonest to profession
Trade : Performing inside trade(With in a company)
Unethical Methods are performed to manipulate the financial records of a bussiness firm. And following are the few methods: Legal : Misuse of law in case of compensation
Statistics : Exaggerating revenue and profits to mislead/confuse Tax : Avoiding to pay actual tax
Transperency : Trying to counterfeit/falsifying in case of investigation Exploitation : Misuing funds
These issues arises due to competition between the bussiness firms to raise their numbers. Greed to have more money and violate the law. Opportunity makes thiefs when offered the bribery. Individuals who work for a giant corporate company, fails to think out of the box when considering rest of the world. Performing unethical behaviour and claimimg it as ignorance, which is not true.
Transparent code of ethic which should be professinally implemented in the firm, and as well as among the employees. Maintaining healthy competition betwwen the firms. Publishing actual financial data. Responsible to pay tax. Awarding the apraisal and rewards for ethical behaviour. Legally there should be strict laws for unethical behaviour.
Kimmel, P.D., Weygandt, J.J. & Kieso, D.E(4 Ed) Financial accounting: Tools for business decision making
Rajeev, L.L. (2012). Ethical and...
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