Ethical Issue Example

Essays on Ethical Issue Essay Ethical Issues Order No. 557948 Introduction Ethics, especially in the arena of business can be defined as the ‘critical, structured examination’ of the behavior of individuals in the world of commerce. Such behavior entails laying constraints on personal interests and working for the good of the organization. However, sometimes when people try to act ethically by doing the right thing, certain consequences become hindrances and hence make it very difficult for them to decide and follow their good instincts. In lieu of such a scenario, the Institute of Management Accounts (IMA) has developed certain ethical standards to help management accountants meet these nagging challenges. The chief premise of the IMA standards is a constant reminder that society expects the highest level of ethical behavior from professional accountants. Charles T. Horngren, Walter T. Harrison Jr. and M. Suzanne Oliver  in their book on Accounting (8th edition) explains the necessity for students to put into good use all that they study within the walls of the classroom. The authors shed light on the experiences of students when it comes to making use of what they learn in class. They explain how students are enlightened when a problem is discussed and solved in class but when they have to solve problems for homework, they fail to do so. To beat this problem the authors have come up with a brilliant combination of study resources, online home-work system and as well as clearly explained textbook features to enable students to understand and put into practice all that they had learned. This Accounting book by Charles T. Horngren, Walter T. Harrison Jr. and M. Suzanne Oliver  is a very clear step-by- step guide on how to solve the different accounting problems because many examples are given. In Chapter 15 we have the ethical framework of the IMA which I will use to respond to the ethical issues in the four requirements given below. 1. What is the Ethical issue? The ethical issue in this case is that Becky who previously worked as controller for a small car firm is now employed in a bigger car firm in the same post. She comes to understand that her employer was using unfair means of bribing the manufacturer’s sales persons in order to get the maximum number of cars for sale. 2. What are my options? One option would be that the behind the scenes activity of gifting Rolex watches to the sales persons be brought to light with the higher authorities. The other option could be that the person in charge, Franz Mueller be directly questioned. The other option would be is to remain a dumb spectator. 3. What are the possible consequences? In case of making use of options 1 and 2, the consequences could result in losing my job which is a good one. If the last option of being a passive spectator is used, then the consequences are that the same act would continue to take place and the company would lose a lot. 4. What shall I do? Ethically speaking, I would go with either option 1 or 2 and expose the activity of Franz Mueller, even at the cost of losing my job. References Business Ethics Definition www.businessethics.ca/definitions/business-ethics.html Charles T. Horngren , Walter T. Harrison Jr. , M. Suzanne Oliver. (2008) Accounting, Chapters 1-23, Complete Book, 8th Edition. Published by Prentice Hall