Business ethics Essay

The gaffe regarding Fashion firstborn is a very interesting gaffe as it allows for a raillery to take place in relation to ethics. Ethics could be be as moral principles that govern a persons or groups look. In other words, ethics allow for individuals to hump between right and wrong, and to make decisions based on what is right or wrong for each particular situation. In this situation, Sandy, the part-time bookkeeper of Fashion source is approached with a situation where she noniced that $500 cash was missing from severally deposit while she was looking through weekly deposit chats. after(prenominal) a more thorough inspection of the monthly tax documents that the possessor of Fashion First, Buzz Thompson (her manager) filled appear, she noticed that the monthly gross revenue was $2,000 less than what had actually been counted. After she approached Buzz Thompson about the scenario, Buzz take a firm stand that she shouldnt be concerned since she wasnt the person who si gned the forms. This operates up an ethical dilemma that allows for a discussion on what the right thing to do is, and how morals could affect the decision made by Sandy.This case is very interesting due to the fact that Sandy is only an confine who is an accounting student at a University. Heather Hunter, a fourth-year in the CPA firm, was one for Sandy to go to if in take away of anyone to talk to or attain advice from for anything regarding the company. Sandy mentioned to Heather her knowledge of outlaw(a) actions regarding Fashion First. Sandys concern related to the handling of gross sales revenues, as monies atomic number 18 counted and deposited on a weekly basis as a graph is filled out with categories carefully delineating the type of stipend cash, checks, American Express, or Visa/Mastercard.She would bring her chart to her employer (in this case Mr. Thompson) and her employer would bring his own written in total of the actual amount deposited on his own chart, ba sically comparing the two charts. The issue in this case of apparent fraudulent behavior completely disregards the IMA Statement of Ethical master key Practice and its principles. This IMA Statement follows the principles of honesty, fairness, objectivity, and responsibility, and if any member fails to comply with the following standards may result in disciplinary action.Mr. Thompson clearly fails to comply with the standards of the IMA Statement in many ways. In regards to competence, Buzz fails to perform professional duties in amity with relevant laws, regulations, and technical standards and fails to provide decision support information and recommendations that are accurate, clear, concise, and timely. The amounts in his chart are low in comparison to the chart calculated by Sandy therefore the information is inaccurate, and not concise, as it is against the law.In regards to confidentiality, it is mentioned to refrain from using confidential information for unethical or ill egal service. Mr. Thompson does the complete opposite as he illegally erroneously counts $2,000 less than what had actually been counted in Sandys chart. This is illegal advantage as that $2,000 is in his pocked at the end of the day. In regards to Integrity, Mr. Thompson disregards the responsibilities which rent refrain from engaging in any conduct that would prejudice carrying out duties ethically and abstain from engaging in or supporting any activity that might discredit the profession. It is obvious that what he is doing is illegal, and that it discredits the profession. In regards to credibility, Mr. Thompson does not communicate information fairly and objectively, as he tells Sandy that she shouldnt be concerned since she isnt the one who signed the forms. This is unethical behavior by Buzz Thompson, and Sandy did the right thing by orgasm him in regards to the situation.