Understanding the Nature of Ethics in the Landscape of Accounting Essay

Understanding the Nature of Ethics in the Landscape of Accounting - Essay Example It should be understood however, that these sets of rules are minimum guidelines or criteria guidance, because the concrete actions of the public accountant or auditor in particular situations, lies in the general principles of codes themselves and the principles of ethical science enrolled in the within man. A distinctive feature of the audit profession is the recognition and acceptance of the duties to act in the public interest. Therefore, the responsibility of the auditor is not limited exclusively meeting the needs of individual client or employer. Acting in the public interest, the auditor is obliged to respect and obey the rules of professional ethics of auditors. This Code of Ethics for Auditors is a code of professional ethics auditor, i.e. established and widely used in the conduct of the audit rules of conduct of the auditor and audit firm is not required by law. As it is not possible to determine the rules of professional ethics for all situations and circumstances that can confront the auditor in the conduct of audit activities, the Code contains only the basic rules. Abstract There are two basic directions in ethics, ethics of the mind that justifies an action by reference to intention and ethics of the consequence that justifies an action by reference to results. The founda tion of civilized society is based on the ethical values and without these values; the civilized society can fall rapidly. The main purpose of ethics in business is directing men and women to obey code and conducts that encourages the people to have confidence in the products or services offered to them. In the field of accounting, it is the responsibility of the professional accounting organization to provide comprehensive guidelines to the organizations so they can perform their operations by considering ethical values. The purpose of this paper is to explain unethical accounting practices Table of Contents Summary 1 Abstract 2 Discussion 4 1. What is Ethics? 5 2. Accounting ethics 6 3. Ethics & professional practice 6 4. Professional accountancy bodies 7 5. Reason for Developing Ethical Standards 8 5.1. Standards of Reporting 8 5.2. To Ensure Integrity 8 5.3. To Ensure Objectivity 9 5.4. To Maintain the Confidentiality 9 5.5. To Improve the Productivity 9 5.6. To Ensure Professio nal Competence & Due Diligence 9 5.7. Maintaining Professional Behavior 10 6. Why Public Interest and Public trust are Important? 10 7. Why ethics are important in the field of accounting? 10 7.1. Fraud 11 7.2. Accuracy 11 7.3. Macro Economic Issues 12 Conclusion 12 References 12 Understanding the Nature of Ethics in the Landscape of Accounting Introduction Ethics related to business operation is currently treated as burning question due to thrilling scandals that have caused economical turmoil’s in several countries. These astounding business scandals raise many questions about the integrity and morality of accountants and businessman. It is critical argued by many economists that accountants are the main reason behind the deterioration of the ethical standards of a business. Following the collapse of WorldCom and Enron in year 2002, International Federation of Accountant (IFAC) published a report with title â€Å"Rebuilding public confidence in financial reporting – an international perspective†. Findings of the report concluded that financial disorders of corporations were the upshots of problems related to improper management of ethical standards. The report identified that to increase confidence of public in financial repo

Factors affecting the rate of a chemical reaction The kinetics of a Lab Report

Factors affecting the rate of a chemical reaction The kinetics of a Thiosulfate Solution - Lab Report Example The first protonation occurs at the sulfur atom. (Holleman & Wiberg, 2001) Various approaches are used to study the kinetics of reactions. A usual procedure is to monitor some property, such as intensity of color due to a reactant or product, which changes during the course of a reaction. In the present experiment, the priority studied is the precipitation of a product, sulfur, which forms when solution of hydrochloric acid and Thiosulfate are mixed. On mixing a solution of acid, such as HCI, and a thiosulfate solution, there is an initial time-delay, then a precipitate of sulfur appears fairly sharply. The time interval between initial mixing and sulfur precipitation is a measure of the initial rate of reaction (i.e. the amount of time for a given amount of product, sulfur, to form). Recall that a rate for a chemical reaction is expressed as an amount of product formed (or reactant used up) divided by the time interval of the change: The aim of my experiment is to determine the dependence of the initial rate of reaction on the initial concentration of thiosulfate ion. The concentration of the other reactant, H+, will be kept constant. A higher initial concentration of thiosulfate will lead to faster rate of reaction, since an increase in the number of thiosulfate ions per unit volume will lead to higher probability for successful collision. (2) A solution of 1 M sodium thiosulfate, is available (center bench or hood). Add 70 mL of this solution to 210 mL of water to make a solution approximately 0.25 M in thiosulfate. We will refer to this as your "stock thiosulfate solution". (7) The experiment is now repeated four more times, using progressively more dilute thiosulfate solutions. Note, however, that for each experiment, the disappearance of the "X" corresponds to formation of the same amount of precipitated sulfur in the reaction mixture. The diluted solutions are prepared as follows: Both