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Finance Assignment:财务报告准则 Ethics in Financial Reporting

时间:2017-05-24 19:10来源:www.ukthesis.org 作者:英国论文网 点击联系客服: 客服:Damien
从长远来看,诚信对于一个成功的商业和金融事业至关重要。一些人认为金融世界缺乏伦理考量。而事实是这样的问题在商业的各个领域都很普遍。
过去几年,几起金融丑闻的揭露使世界许多地区的商业环境陷入困境。世纪之交的乐观主义已被怀疑和不信任所取代。它将讨论我们如何控制自己在这种情况下,正在做什么来纠正它,以及未来。在安然公司以及其他公司的会计和公司治理的故障进行讨论。
一些公司已经遇到了财务报告的问题,将讨论随着审计师的作用,监管环境,一些问题的原因,以及当前和未来可能的结果。
 
Introduction 简介
The first thing is character, before money or anything else. - J. P. Morgan
 
Integrity is of utmost importance for a successful career in business and finance in the long run. Some believe that the world of finance lacks ethical considerations. Whereas the truth is that such issues are prevalent in all areas of business.
 
The business environment in much of the world is reeling from the revelation of several financial scandals in the past few years. The optimism of the turn of the century has been replaced by scepticism and distrust. It will be discussed as to how we landed ourselves in this situation, what is being done to correct it, and what the future holds for us. Though Enron has been used as the poster-child for this purpose, breakdowns in accounting and corporate governance in Enron as well as in other companies will be discussed.
 
Some companies that have encountered financial reporting problems will be discussed along with the role of auditors (including Andersen's role in Enron), the regulatory environment, some of the causes of the problems, and the current and possible future outcomes.
 
Ethics and Accounting
Ethics (maintaining fair and true statements) is a key part of financial reporting. For shareholders to trust a company with money, they must feel confident in the company's financial reporting. Financial reporting presents all data relating to the entity'scurrent, historical and projected health meaning investors and shareholders rely upon the financial data available for making informed and educated decisions. To help entities comply with business regulations and maintain financial reporting, shareholders can trust the existing organizations designed to monitor different aspects of the accounting world. Primary organizations are Securities and Exchange Committee (SEC), the Financial Accounting Standards Board (FASB) and the Public Company Accounting Oversight Board (PCAOB). These three bodies together ensure financial reporting is fair, reliable, and available to all investors.
 
The specific importance of ethics in business and in financial reporting is to ensure public and investor confidence in companies. Without a strong code of ethics and adherence to that code, individuals may not be certain their investments are secure. Accounting professionals must have a strong ethical and moral reasoning because their decisions regarding financial reporting can have major consequences for individuals as well as corporations and entire nations. Ethics in the business environment are more than just issues relating to accounting; because ethical practices can and will cross boundary from business practice to what a company may ask its accounting professionals to do in financial recording. The many recent scandals involving accounting and reporting fraud generally began at the CEO and made their way down into the financial records.(责任编辑:BUG)


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