The multifaceted accounting design that the Linbarger Company faces is that it can't have the capacity to comply with the guarantees they made to the insurance agency. Because it associated with management of cash, the cash flow and the planning and management of the money. The Linbearger Company is unable to comply with the loan agreement made with the insurance company because their cash account balance is below the agreed amount (Cernuşca & Gomoi, 2015). The company should have considered an alternative, for example, short-term cash funding so that they could be all set on time. The company cannot raise the minimum amount they had agreed with the insurance company, breaching one of the principles of insurance-utmost good faith. This has …show more content…
forced it to opt for a wrong decision of keeping the cash receipt book open for an extra day to cater for the report to be submitted on June 30, when a summary of the accounts ought to be made. According to the scenario, there are some of the ethical issues that need to be tackled. First, by agreeing to the vice president's decision is contrary to my integrity (Sharpe, 2016). When applying for the job, I promised to give my best with the most integrity. This means that I should not condone any such behavior of dishonesty and corruption. By agreeing to such command, it means I have breached the contract it might as well cost me my job. The vice president’s decision was incorrect thus agreeing with her meant violating some major ethical principles of accounting. Furthermore, it isn't right to keep the money receipt book open, when the month is finished, notwithstanding when it implies an extra one day.
As the credit was being conceded to the organization, there were contracts marked, and trustworthiness was a vital issue. The organization consented to cite the base of $200,000. On the off chance that there isn't sufficient money to report, it doesn't intend to begin concocting figures or broadening dates. This is losing respectability to the organization, all the more so when the insurance agency understands this. Trustworthiness ought to be kept up in each business exchange at all cost, independent of the …show more content…
circumstance. I ought to submit to the applicable laws to keep any activity that can risk my calling because of the additional infringement grants adversely on my expert conduct. It is exceptionally basic for an expert bookkeeper to consider both subjective and quantitative perspectives while examining the significance of a danger. On the off chance that the circumstance is endangered, at that point it is smarter to stop the administration included. On the off chance that I don't agree with my budgetary VP, Lisa Infante's choice, I am in danger of losing my activity. This is an immediate request from my administrator. This implies I will ignore her; she can be embarrassed to flame me. Be that as it may, this isn't the correct advance to take. I should be arraigned in court for doing such deceitful activity. When I agree with the VP's choice to keep the receipt books open, it naturally will accompany some perilous impacts.
To start with, I will rupture my trustworthiness. I will never again be trusted at whatever point genuinely will be required since I have a record of the exploitative business exchange. All the more thus, the organization is put at the most noteworthy hazard. Whichever the condition, the insurance agency will at present understand that this month, the organization had neglected to raise the sum expected of them, since they too do their reviewing. By defaulting on the credit, will implies the organization can be shut as expressed by the budgetary VP. Conclusion of the organization will state the representatives will lose their
employment. Then again, on the off chance that I give in, at that point I would be at a misfortune due to having traded off my respectability. Since I am the person who started it, if by misfortune I get captured, I may wind up in prison and lose my activity for changing the books. The insurance company stakeholders would get caught up in unethical practice mix. The company is even at a higher risk because the insurance company would realize that the company did not manage to attain a particular balance on the cash account this month. A company can save itself from the risk of being fined because of unethical behavior by setting its operational ethical guidelines (Trevino & Brown, 2004). A company’s reputation is an essential asset, and it is a challenge to bring it back once lost. Abiding by the promises, the status is upheld. I would prefer more harmless ways that could keep my integrity clean and at the same time safeguard the company from imminent risks. The act of being confident and honest is paramount in businesses of all kinds. Because of those reasons, I would advise the vice president to confront the insurance company about the inconvenience and discuss it. In every business transaction, honesty is always the top priority (Bampton & Cowton, 2013). As an employee who knows that keeping the cash receipt book open when the month has ended already, is wrong, I would opt for another way that could cause less harm, up-keeping my integrity and keeping the company out of risks. I would advise my financial vice president that this is a wrong act and that we should keep the book records just as ought to be done. I would then encourage her to talk this matter with the insurance company and explain that it was only some inconvenience and this would be the first and last. Am sure they will understand since this is not the first case they are handling issues like this. By doing so, they will gain trust in us, for being honest.
State the title of the article, the name of the publication in which it appeared and the date of publication.
Butler was one of many to be accused of a crime he didn’t commit. In 1993, a woman got
Jake Clawson Ethical Communication Assignment 2/13/2014. JPMorgan Chase, Bailouts, and Ethics “Too big to fail” is a theory that suggests some financial institutions are so large and so powerful that their failure would be disastrous to the local and global economy, and therefore must be assisted by the government when struggles arise. Supporters of this idea argue that there are some institutions that are so important that they should be the recipients of beneficial financial and economic policies from government. On the other hand, opponents express that one of the main problems that may arise is moral hazard, where a firm that receives gains from these advantageous policies will seek to profit by it, purposely taking positions that are high-risk, high-return, because they are able to leverage these risks based on their given policy. Critics see the theory as counter-productive, and that banks and financial institutions should be left to fail if their risk management is not effective.
The Supreme Court's ruling in Grutter v. Bollinger and in Gratz v. Bollinger are two compelling and complex cases. In the Grutter v. Bollinger case, the Supreme court favored that race and ethnicity along with other factors are justifiable in the admission process of promoting a diverse and inclusive student body on the premises of state law schools. I agree with the court's decision because minorities only make up a small percentage on college campuses and universities, and that race and ethnicity does play a crucial role in recruiting students of colors from various cultural backgrounds. Students must be trained scholars who know how to interact with people from all walks of life and they must be able to adapt and understand different people in different environments in a given context. The goal is for everyone
The Fruitvale Branch of Manzana Insurance is experiencing loss of business due to late renewals, and long lead times on new policies and quotes. These problems have created an opportunity for a competitor to take market share. Incorrect interpretation of company income for new policy versus policy renewals has placed an overemphasis on new policies that is causing loss of profitability.
Rousmaniere, Peter. “Facing a tough situation.” Risk & Insurance 17.7 (June 2006): 24-25. Expanded Academic ASAP. Web. 23 March 2011.
Lets put ourselves into the shoes of a London resident, shall we? Walking down the road, a fellow civilian begins a conversation with us, soon inquiring on the area which we reside. Simple question, correct? Wrong. Throughout London there has remained a divide between East and West London since the Victorian Era. West side London remains blessed with the reputation of maintaining a family-friendly, uppity, and wealthy neighborhood; while the East side has remained notorious for it’s more difficult and not-so-friendly areas filled with crime. East London has had a rather negative reputation for decades at this point, and can generally be recognized as the half of London containing the working class people residing in poor suburban areas. In contrast to the East, West London depicts the glorious scenery that all people imagine after watching a film which is set in England. The department stores surrounding pristine apartment buildings, all centralized around gorgeous green
One way Greater Providence Deposit & Trust may improve their its loan review procedures at bank headquarters to minimize its fraud risk is to acquire a computer services arrangement at the headquarters, not at a neighboring bank or a bank out-of-state. This system should notify bank officials if a loan has been granted without a credit report or above the lending officer’s lending limit. These loans should then be examined by the internal auditors for fraud and unless there was prior approval to grant these loans; the lending officers should face consequences.
...company workers being affected by the financial crisis. We don’t want to point fingers here only assess the ethical dilemmas that these companies face. Subjective human judgment opens up for the possibility of undesirable human biases and manipulation. However, with or without human judgment, financial models of credit risk are subject to manipulation, both legally and fraudulently.
Li and Fung, a Chinese company founded in 1906 has been experiencing high growth rates due to a series of acquisitions and the offer of a wide range of services in the whole elements of the supply chain (from raw material till finished goods). Recently the question its managers have to deal is how to face the challenges posed by the internet, more specifically, its lifung.com (after was renamed studiodirect.com) internet site. This company was an extension of its brick and mortar operations allowing the company to enter the SME (Small and Medium Enterprises) market.
Once you entered the world of accounting there are lots of responsibilities and difficulties you may face and encounter. In this case, there are times where we can't avoid malpractices in accounting which may affect an individual and an organization. The researchers chose this topic because they wanted to know more regarding this topic and being an accounting student they may encounter some related situations in the future. The researchers know that this topic must be considered for the good of the people involves in the field of accounting. If this topic will been studied it can give the people in the business some information that can help them to avoid and prevent accounting malpractices.
guideline. This essay will right the wrong done to the author and restore his credit.
The financial situations of the company should be closely monitored. All the creditors especially the banks should deeply understand the account status of the company before granting loans and financial solutions to them. This will not only allow the creditors/banks to protect their own resources and financial systems but also prevent the company from spending more than its earnings, and hence from bankruptcy or insolvency.
However, sometimes, a good reputation can quickly turn negative, just like in the case of today’s Uber, which is totally different from the Uber that took us by storm a few years ago by reshaping the taxi industry. Based on the above, I would ‘’want to be insured by a company that is willing to allow the benefit of any doubt’’ ( DF Unit 7
The New York Times’ recent article, “Lyft’s John Zimmer on Empowering Others to Help them Grow” interviewed Lyft’s president, John Zimmer on how he’s been able to create and run a successful company. Zimmer talks about his life and work experiences have heavily influenced his process of being an entrepreneur. Zimmer’s summer job working at a Hyatt hotel, and growing up in a highly materialistic environment have created experiences that have been very applicable to his new job. Lyft is a ride-hailing service that has grown very quickly, starting off with only 30 drivers, and now has over 1,700 drivers. Although there are other existing competitors such as Uber and Curb, Zimmer said that the only thing he can do is to focus on the values of the