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Rule-Based Ethics Standards

Should we have rules-based ethics standards? Why or why not? Should they tell you exactly what to do in specific ethical situations?

Do you agree with the authors that a code of ethics should do more than establish minimum acceptable standards? Why or why not?

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1. According to the article business ethics deals with the questions of whether specific business practices are acceptable. We should not have rules based ethical standards. Rules based accounting has not worked in practice. The focus is on checking the boxes more than achieving the objectives. Rules based ethics are perceived to be very complex, hard to understand, and difficult to follow. Rules base ethic is a list of detailed rules that must be followed when carrying out business. Professional managers prefer rules based ethics because in absence of rules their actions could be questioned in court. When strict rules are followed ...

Solution Summary

The answer to this problem explains ethics in accounting and goes over the rule-based ethics standards. The references related to the answer are also included.