News reports often contain high profile stories about businesses that fail to apply ethical standards to their financial calculations and reporting. Lapses in judgment or deliberately deceptive practices have at times led to the demise of an organization or to a public scandal. What ethics-based practices would you, as a manager, expect of your finance department? What processes and checks would you implement to ensure the application of business ethics, and to detect any variances or lapses in their application?© BrainMass Inc. brainmass.com October 17, 2018, 10:32 am ad1c9bdddf
What ethics-based practices would you, as a manager, expect of your finance department?
-- This really needs to start at the top, and by that, we're referring to the tone at the top. The tone at the top is the "tone" that upper management sets in the organization, which is also the foundation for the corporate culture. If a culture or internal environment is created from the tone at the top that supports strict adherence to sound ethical principles and a strict compliance with all accounting and business rules, regulations, and various laws, it will set the standard for the organization. If ...
This solution explains the processes and checks you should implement to ensure the application of business ethics, and to detect variances or lapses in application. This solution also clearly explains what ethics-based practices a manager would expect of the finance department.
Corporate Governance Benchmarking
Corporate Governance Benchmarking
After reviewing the McBride Financial Services scenario, you will identify several issues that directly connect to the concepts in the mind maps for Weeks 1 through 3. In addition to reading the assigned text materials to develop knowledge about the concepts, a thorough master's-level education requires the development of effective research skills. In this assignment, you will work collaboratively to create a rich source from which you will individually develop alternative solutions for McBride Financial Services.
Individually, identify and research two companies that have faced specific issues related to those you identified in the scenario and connected with the course concepts. For each company selected, discuss the following in a 350-word synopsis: (A) issue identified in the scenario that is also facing the company, (B) how the company responded to the issue, and (C) outcomes of the company's response to the issue. Thus, each team member should have two 350-word synopses, one for each company, which provides the information identified. To avoid duplication of efforts, each team member should identify, to the team, the companies he or she will be researching before doing this part of the assignment.
As a team, based upon the information gathered from the individual work done in Step 1, prepare a 1,050-word to 1,400-word analysis that synthesizes the key findings. As a team, using the companies researched: (A) identify the key course concepts and (B) compare and contrast the practices of each company related to those concepts. Appropriately cite all references used.
The team will submit a final composition which consists of a title page, the team's overall analysis, the individual company synopses (with the preparer of each synopsis identified), and an appropriate reference page. As a guideline, a team of five will submit roughly 13-14 pages of material as well as a title page and reference page.