Business Ethics Essay Example | Topics and Well Written Essays - 1500 words - 12

Business Ethics - Essay Example Along with this the management accountants also use the financial statements and the statements like cash flow, fund flow (which are not published in the annual reports) and they formulate a plan about the further steps that should be taken by the management so that the company can use the available resources optimally and can perform better. If the accountants doing fraudulent while preparing the statements then the objective of the company can be hampered. The external stakeholders would fail to take the right decisions and the management accountants can’t plan successfully. So protecting the interest of the stakeholders it is necessary to maintain the accounting ethics properly by the company management. The accounting bodies has prepared some rules, the companies are bound to maintain those rules for protecting the interest of the stakeholders. The paper describes the issue of ethics in accounting; the importance of the ethics rules of AICPA is also discussed. A case study will also be discussed by the researcher for depicting the importance of ethics in accounting. Doing fraud in the financial statements is an intentional activity for making the balance sheet stronger, for showing higher profit of the company in the financial year. For showing higher profit than the actual the accountants shows higher value, higher revenue. Enron, the company in the energy sector started its business in 1985. In the 1990s the company’s growth was fine. The growth of the company made it one of the best companies in the world. In Standard and Poor 500 index the growth of the company was also good. But the lack of transparency was the cause of the downfall of the company. Their business model was complex and they used to do unethical practices. The company used to recognize the revenue even when the deal was signed between the two parties. Government deregulation was also a factor for their downfall. Enron used the Special Purpose Entities for accessing

Report Essay Example | Topics and Well Written Essays - 500 words - 8

Report - Essay Example (Reed, Andy) International corporations are reported to be interested in Miami as a suitable for conventions and conferences, but there is doubt here whether they could afford the rate of four figures. Since Miami is a favorite destination, people who will come to visit the proposed resort hotel are those who do not make a big deal about money. These are the billionaires, top world leaders and politician, celebrities and honeymooners. The place could also easily attract golfers who come from the row of billionaires. These golfers form regular tournaments and stay at the most luxurious hotel in the area. They shun onlookers and would prefer privacy and luxury. Forbes has listed the world’s billionaires, who came from many parts of the world. Surprisingly, these billionaires start counting their billions at age 39. Saad Hari 39 years old, is a Lebanon national. Others are of younger generation who undoubtedly are pleasure seekers. Florida has been the favorite of celebrities today and in the past. Top stars of the 50s who were visitors of Miami were Frank Sinatra, Sammy Davies, Jr., Dean Martin and Joey Bishop. Lucille Ball and Desni Arnaz stayed at a Miami Beach Hotel for a shot of their TV series. Elvis Presley had a room in Jacksonville Hotel. Today, some of the celebrities you see walking in the beach in Miami are Lindsay Lohan, Britney Spears, Jaime Foxx, Gloria Esteffan, Ricky Martin and many more. Demand for luxury hotels in Miami are increasing as hotel occupancy in 2011 was 55.7% in February 2011 and even reached 98.97%. Rise in demand was caused by increase in consumer travels and business growth. It is predicted by the PFK Hospitality Research that there will be high levels of occupancy in Miami hotels and that the hotel sector will be performing above average. Local hotel operators have confirmed the increase of international visitors and they believe this trend will