1) Without sound ethical values, businesses would not be able to stay profitable for long. Employees would adjust accounting records as needed, for their own benefit, or for the benefit of those that they decide. In accounting, many things are not illegal, or against any certain regulation, but they also are not ethical. Whenever a company creates an accounting entry to try and make the company appear more or less profitable, or in a way as to where the company has disguised a transaction that took place, or the actual balance of an account, it is deceit and it is not ethical, even if it is legal to treat the ...
The expert gives two reasons and explain why accounting is important for business, and evaluate the importance of ethics in accounting.