ACC 557

 

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Assignment 1: Review of Accounting Ethics

 

 

 

 

 

Due Week 3 and worth 200 points

 

 

 

Many organizations have been in the news over the past few years due to accounting ethical breaches that have affected their customers, employees, or the general public. Search the Internet or the Strayer Library to locate a story in the news that depicts an accounting ethical breach. You may select from any type of organization about which you have information or a curiosity.

 

 

 

Write a four to five (4-5) page paper in which you:

 

 

 

1. Given the corporate ethical breaches in recent times, assess whether or not you believe that the current business and regulatory environment is more conducive to ethical behavior. Provide support for your answer.

 

 

 

2. Based on your research, describe the organization, the accounting ethical breach and the impact to the organization related to ethical breach.

 

 

 

3. Determine how the organizational ethical issue was detected and how management failed to create an ethical environment.

 

 

 

4. Analyze the accounts impacted and / or accounting guidelines violated and the resulting impact to the business operation.

 

 

 

5. As a CFO, recommend which measures could have been taken to prevent this ethical breach and how each measure should be implemented in the future.

 

 

 

 

6. Use at least four (4) quality academic resources in this assignment. Note: Wikipedia and other Websites do not quality as academic resources.

 

 

 

 

 

 

Your assignment must follow these formatting requirements:

 

 

 

ï‚· Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.

 

 

 

 Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.

 

 

 

The specific course learning outcomes associated with this assignment are:

 

 

 

ï‚· Examine accounting principles and concepts used in businesses.

 

 

 

ï‚· Prepare and record financial transactions in the accounting cycle according to GAAP and IFRS accounting methodology.

 

 

 

ï‚· Use technology and information resources to research issues in financial accounting.

 

 

 

ï‚· Write clearly and concisely about financial accounting using proper writing mechanics.