Ethics At A Young Age - 1293 Words

When I think of Ethics, I think of trying to distinguish right from wrong, good from bad, and morally doing the right thing when it comes to making decisions. Ethics occurs throughout all different parts of our everyday lives. We begin to learn ethics at a young age and continue to learn it as we get older, according to our jobs, or our places in life. For instance, we learned that it is wrong to take someone’s toy away, or to hurt someone when we were younger. However, once we became older, we learned it is bad to distort information to make oneself look good. For example, in concept analysis 4-3, Brown wants to raise the depreciation expense of the company’s machines so when they are sold at a loss the company does not look bad (Kieso,†¦show more content†¦Those are things we do not do. People also tend to think of virtues such as honesty and loyalty as good ethical standards (What is Ethics). Although there is a slight distinction between what is ethical and what is not, there is a not a written rule book on ethics. Ethics is important in the Accounting Profession just as much as it is important in any other profession. When in the accounting profession, we will be faced with decisions on a daily basis that we will have to decide if they are ethical or not. For instance, one CEO, Kenseth, is nervous about large stockholders who have been vocal about her lately and she considers buying them out by purchasing their shares, so she can eliminate the competition and maintain her leadership as CEO (Kieso, Weygandt, Warfield, Pg. 871). She has to decide if she should buy them out or not. If she bought them out, that would be unethical because she is using inside information and her authority to benefit herself. She should keep in mind what is good for the company as a whole, and not just what is good for herself. Additionally, depending on the company, the more particular they are, the harder it is on the Accountants to make ethical deci sions. They are constantly worrying about â€Å"Am I presenting this information in a good or bad way†, or â€Å"Is this right or wrong† (Kieso, Weygandt, Warfield, Pg. 21). For instance, in the case where Weller wants to implement a rule that will present the financial conditions in a