What would you like to do?
A business owner who was turned downed for a loan because it was to risky, had his accountant to change his accounting method from cach basis to accrual basis. Which he then applied for a laon with another bank (on the application there was a question that asked if he had been previously rejected for credit and he answered no). Is this business owner displaying ethical behavior or legal behavior and why?
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Answer Would you entrust your money to someone you thought was unethical? Would you risk heavy fines and possible jail time for skimming funds from a client? Peopl…e who work in finance are placed in a fiduciary position of trust; first, by their employers, if they're not self-employed, but more importantly, by members of the general public, over whose assets they are given control. Their daily business is directly working with other people's money, or doing other things that affect the public's investment decisions, and if they are unethical people, their clients, and the public, are at high risk for being cheated. Finance workers are entitled to reasonable fees for their services, but they are not entitled to engage in investment activity solely to generate more commissions for themselves, or engage in any other self-dealing while they are doing their jobs on behalf of their clients. And they have to exercise reasonable care when doing their jobs. Given the many scandals of recent years, many companies have done their best to publicize their codes of ethics, and to acknowledge their responsibility to the public. These firms know that public confidence in their finance people matters a great deal, and unethical behavior (or even the perception of such behavior)on the part of a firm means that people will stay away from that firm, and they may stay away from all the others as well. Here is an example of a firm's publication of its code of ethics: http://www.altruistfa.com/codeofethics.htm If your work in finance requires a license, such as a Series 7 or CPA license, you will find that you will be tested on professional ethics. Once you're licensed, you will be expected to abide by those rules. And God help you if, once you get your license, you are caught violating the rules (people get caught because smart customers complain). You could lose your license. Ethical lapses took down a major public accounting firm (Arthur Andersen). If those lapses are even perceived as widespread, that perception can potentially destroy an entire industry. That is why ethics are not merely relevant. On the contrary, they're vital to the existence of the industry. They're not optional.
ethical behavior is behavior that is appropriate for the work place. It is professional behavior. not goofy, or kid play.
Just because something is unethical does not mean it is also illegal. Being unethical is just bad judgment and does not create a legal issue in most cases.
Ethics are considered the moral standards by which people judge behavior. Ethical behavior is behavior that conforms to those accepted standards of social or professional beha…vior. Ethics often expressed by what is commonly considered the "golden rule": Do unto others what you would have them do unto you.
No. Ethics is the knowledge of what is right and wrong. The law is what your government tells you to do and not do. Many things, such as abortion, are legal, but are considere…d unethical by some. Added: Or persons who find 'loopholes' in the law that, although may make make their actions 'legal,' they are far from 'ethical.'
behavior that is legal.
Being ethical does always mean being legal but sometimes there are laws attached. However being unethical can have social consequences even if there are not legal ones.
I think there could be times when ethical behavior could be wrong. Sorry, no examples come to mind right about now. Maybe someone else can give you a better answer! Example #…1: A couple of hundred years ago, people were being sent from England to to Australia as convicts, for crimes like the theft of food. Nobody steals bread for the money they are going to make 'fencing' it; these people had hungry families, and no better way to provide food. In such cases, I would consider the crime of theft to be highly ethical. Another example: In some societies, for a woman to stand up to her husband is illegal, simply because the society favours the male as the unquestionable head of the family. If a man in such a society were to command his sister or daughter to do something unethical (e.g. sleep with another man when he is already married) and she refused, her actions would be seen as illegal under the laws of that country, but ethical, because she was honouring her own morals and the laws of God.
The legal environment sets the normative standards of ethical behavior
Legal behaviour is simply behaviour not rendered illegal by any applicable legal authority. The status of its il/legality is irrelevent to whether or not it is ethical,which i…s a philosophical concept apart.
We cannot answer this question at the moment
The washing of hands
That depends on what a certain group considers unethical behavior. Some examples of illegal and unethical behaviors are murder, prostitution, embezzlement, identity theft, and… selling illegal drugs.
In a business setting, being ethical means applying principles of honesty and fairness to relationships with coworkers and customers..