Ethical Dimensions of Preparing Two Financial Reports Essay Example for Free

Ethical Dimensions of Preparing Two Financial Reports Essay Ethical dimensions of financial accounting with respect to keeping of two sets of records, one for internal purposes only and the other for internal taxation purposes. Financial accounting, as stated by Garrison, is concerned with providing information those people outside an organization. This includes preparation of financial reports showing the company’s past financial performance which will be the basis for additional investments for stockholders, capacity to pay off loans for creditors or banks, imposing correct government taxes as mandated by law, etc. Financial reports, therefore, should be done accurately and with utmost truthfulness to avoid misconstruction due to omission or misstatement as stated in the International Federation of Accountants Code of Ethics. However, there are some who do not conform to this Code. Some companies practice preparation of two sets of financial reports at the end of the fiscal year, one for internal purpose and the other to be used and submitted for internal taxation purpose. Usually, if the company would like to attract additional investments from its stockholders, incomes are bloated. On the other hand, to avoid paying high taxes or even pay no taxes at all, financial statements are manipulated to reflect a lower or negative net income, which will be the basis for the computation of the taxes to be paid by the company. Whether for stockholders or for taxation, I strongly condemn such practice. This does not only violate the Code of Ethics of IFAC, such practice, if done continually, could even be a start of the eventual downfall of any company due to loss of its credibility and integrity. Thus, there exist major financial scandals that lead to collapse of business giants like what happened to ENRON. Further, leaders of the company may suffer from huge penalties or even jail terms, if found guilty of violating the code. Sadly, our country’s system on taxation and how the government use, or should I say, misuse collected taxes opens a lot of controversies and issues, which is being used by some companies to justify the practice of preparing a different financial report for taxation purpose. Corruption and issues on tax evasion by big companies are only a few examples why some companies validate this act. Corporate governance, as they say, should start first with the government, ethical behavior should be practiced first by our government leaders. This is the main campaign of incumbent President PNoy. The Code of Ethics on Integrity Rules states: â€Å"A member must not make, prepare, or certify, or permit or direct another person to make, prepare or certify, any statement which the member knows, believes or ought to

Anthem :: essays research papers

Anthem A young man lives in a place where the word "I" does not have meaning. It is a society where there are no individuals. It is, however, a place where you strive to serve your brothers. Equality 7-2521 was taught from birth that the individual is not important. He is in a crazed society where the only form of government is collectivism. Their religion is one of few forces holding this disarranged society from spinning out of control. â€Å"We are nothing. Mankind is all.† (21). Equality, at age 21, has absolutely no freedom. There are three steps to a person’s education when entering the society as defined by the book Anthem. When a child is born they are placed in the House of Infants until they are five years old. There they stay with other children born the same year. After the House of Infants they are sent to the House of Students. They stay in the House of Students until they are fifteen years of age when they enter the work force. Members of a board decide the final step of a person’s education. â€Å"Their hair was white and their faces were cracked as the clay of a dry river bed† (26). Each profession has a housing center and trains the citizens to the specific profession, also known as a â€Å"house†. In this section, his dream of going to the House of Scholars is lost and he is sent to the House of Street Sweepers instead. Here the rules are very strict. He is not allowed to laugh or sing for any reason. Entertainment was a part of daily life for all citizens within this society. Every day they would sing three hymns and watch a play after that. Among the three hymns were â€Å"†¦The Hymn of Brotherhood, and the Hymn of equality, and the Hymn of the Collective Spirit† (27). These were the only two forms of entertainment the workers had time for. All other time was spent working their jobs, eating, sleeping, and/or meeting with fellow workers. Entertainment was a prized piece of their society. Entertainment was the only part of society that kept the citizens content. Without entertainment daily the citizens would have not had such strong beliefs in the group and most likely would have overthrown the government. The science and technology of the society is very underdeveloped. Glass and simple candles were some of the newest inventions. Anthem :: essays research papers Anthem A young man lives in a place where the word "I" does not have meaning. It is a society where there are no individuals. It is, however, a place where you strive to serve your brothers. Equality 7-2521 was taught from birth that the individual is not important. He is in a crazed society where the only form of government is collectivism. Their religion is one of few forces holding this disarranged society from spinning out of control. â€Å"We are nothing. Mankind is all.† (21). Equality, at age 21, has absolutely no freedom. There are three steps to a person’s education when entering the society as defined by the book Anthem. When a child is born they are placed in the House of Infants until they are five years old. There they stay with other children born the same year. After the House of Infants they are sent to the House of Students. They stay in the House of Students until they are fifteen years of age when they enter the work force. Members of a board decide the final step of a person’s education. â€Å"Their hair was white and their faces were cracked as the clay of a dry river bed† (26). Each profession has a housing center and trains the citizens to the specific profession, also known as a â€Å"house†. In this section, his dream of going to the House of Scholars is lost and he is sent to the House of Street Sweepers instead. Here the rules are very strict. He is not allowed to laugh or sing for any reason. Entertainment was a part of daily life for all citizens within this society. Every day they would sing three hymns and watch a play after that. Among the three hymns were â€Å"†¦The Hymn of Brotherhood, and the Hymn of equality, and the Hymn of the Collective Spirit† (27). These were the only two forms of entertainment the workers had time for. All other time was spent working their jobs, eating, sleeping, and/or meeting with fellow workers. Entertainment was a prized piece of their society. Entertainment was the only part of society that kept the citizens content. Without entertainment daily the citizens would have not had such strong beliefs in the group and most likely would have overthrown the government. The science and technology of the society is very underdeveloped. Glass and simple candles were some of the newest inventions.

High School Drop Out

Rates Are Increasing Many young adults view high school as a new territory with more advanced classes, more students, but other students only view the negative side of high school , rather than the positive. What most young adults do not understand is that when they choose to dropout of their high school, it is only stealing valuable knowledge from them. It is obvious that the high school drop out rate is increasing rapidly. Why might the rate of high school students be increasing, and why do students make such a dramatic change on their life? Also read: Should Boarding Schools Be AbolishedSome of this may result from the lack of parental guidance, bullying in our high schools, or teen pregnancy? First of all, parental guidance can be the most important element in a student’s education. Students who lack parental guidance have a greater chance of tossing his or her education away compared to those students who receive the help, support and positive guidance from their parents. Many high school students who lack a positive parental guidance to support his or her education, causing the rate of high school dropouts to increase.Not having a parental guidance causes student, to not take an education important and seriously, because they see their parents not showing any interest in their schooling as well. Parents can take action in their child’s education by keeping track of their grades, attending parent teacher conferences, or participating in more school activities. When students have parents who participate i n their child’s education that child is more likely to graduate from his or her high school. Another reason our high school dropout rates are increasing rapidly, is do to the fact of school bullying.School bullying is a type of bullying that occurs in connection with education, either inside or outside of the school. Bullying can be verbal, physical, or emotional and is usually repeated over a period of time. Bullying causes students to have a low self-esteem about themselves and may feel as if no one cares about them. School bullying can also occur in any part of a school building including, on buses, classrooms, even in sports. School bullying has become to be a serious problem in our schools system. The number one effect that bullying has on high school students, is students dropping out. Last,

The Issue Of Reoffending Rates - 1507 Words

Within this essay I will discuss the issue of reoffending rates in England and Wales, and identify relevant statistics associated with this ever-increasing social problem. The annual cost of reoffending to the UK is between  £9.5 and  £13 billion, more than the cost of holding the London Olympics each year. David Downes (2001) argues that there is an ideological function of reoffending – to make capitalism look successful. This is because it soaks up a large percentage of the unemployed, therefore making unemployment official statistics look better. Research has identified a correlation between reoffending rates and the length of sentence. One might expect that the people who had originally been given longer sentences would be the more hardened criminals and therefore more likely to be reconvicted. But the highest reconviction rates are actually given to those who have served less than 12 months. However, these statistics are only records of the number of former prisoners who have been reconvicted. The number who actually return to crime is likely to be higher because many don’t get caught (Wilson Ashton, 2001). The trend is that typically, the shorter amount of time an inmate serves, the more likely they are to reoffend after they have completed their sentence. Data of adult offenders released from custody between October 2012 and September 2013 in each prison has shown how many will go on to commit further offences, and how many offences they will typically commit. HMShow MoreRelatedThe Between Private And Public Priso ns942 Words   |  4 PagesThere are varying views and contradictory findings on the differences in reoffending rates between private and public prisons. While private prisons have been useful, I believe that it does not have an advantage over public prisons with regard to rehabilitation and reoffending rates of offenders. 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The aim of this paper is to learn about the experiences of individuals who have been released from prison into the community so as to make contributions into developing relevant interventions based on the difficulties/barriers faced by these individuals. To add to this, this paper will explore whether everyRead More‘The Overall Fear Of Crime Has Increased Over The Last1662 Words   |  7 Pagesof crime. However the myth that the high the prison population is, the crime rate reduces; however it is not evidence based. What about the crimes that was not reported? If the prison population gone from 40,000 to 85,000, then why is there still huge number of arrests being made every day? Which raises the real question†¦ what kind of crime are the offenders being arrested for? Because there is also the factor of high rates of re-offending! What is the government t hen doing about rehabilitation? So