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The Role of Government and Regulation

ETHICAL DILEMMAS Below are several situations that present ethical questions in a business. Discuss each situation: (a) from the strictly legal viewpoint (b) from a moral and ethical viewpoint, and (c) from the point of view of what is best in the long run for the company. Be sure to consider both short and long range consequences. Also look at each situation from the perspective of all stakeholders (groups concerned: customers, stockholders, employees, government, and community). 1. A disgruntled employee of your major competitor mails top secret information or new product samples to you. Do you begin to do a dance on your desktop or do you immediately mail the information back to your competitor? What would you do? a. Throw the plans or secrets away. b. Send them to your research department for analysis. c. Notify your competitor about what is going on. d. Call the FBI. e. Other? 2. You are the general manager of a regional chemical company. In the course of producing your bulk chemicals, large amounts of particles and smoke are emitted through your plant's smokestack. The level of pollutants is below current EPA regulations, and you are violating no laws, but neighborhood groups are complaining about minor health problems caused by the smoke. After investigating numerous alternatives, you find the most effective solution would be to install a 'scrubber' system which will remove 90 percent of the pollutants and ash. Cost: $1 million. Do you install the system? 3. You are the vice president of a beer company in a state which sets the legal drinking age at twenty one. Your boss asks you to organize a lobbying effort to have the drinking age reduced to eighteen. 4. You are an accountant in a large firm. Your boss tells you to use a controversial accounting practice which will make the company's profits seem higher. She tells you it is only to impress stock holders and will not be used in statements submitted to the IRS.

ETHICAL DILEMMAS Below are several situations that present ethical questions in a business. Discuss each situation: (a) from the strictly legal viewpoint (b) from a moral and ethical viewpoint, and (c) from the point of view of what is best in the long run for the company. Be sure to consider both short and long

1. Identify the Major reporting requirements associated with each of the following: a. Securities Act of 1933 b. Securities and Exchange Act of 1934 c. 10-K report d. 10-Q report 2. Identify each of the following: a. The private sector organization that is responsible for setting financial accounting standards in the United States. b. The private sector organization that is responsible for setting state and local governmental accounting standards in the United States. c. The organization that exists to influence the development of international accounting standards. d. The federal agency that oversees accounting at the federal government. e. The organization responsible for the enforcement of financial accounting standards in the United States. 3. Mag's pie shop is a rapidly growing baker and distributor of specialty pies for festive occasions. Mag's CPA adviser keeps recommending that Mag install better internal controls over the business. Specifically, the CPA recommends that Mag separate the company's record keeping function from the physical control of cash and other assets. The CPA also recommends that Mag use only preprinted and pre-numbered forms for all business transactions. a. What is the purpose of internal controls? Please be specific. b. For each internal control suggested by the CPA, please give one example of an unsatisfactory situation or event that the control would prevent. 4. Sales clerk controls (see attached)

1. Identify the Major reporting requirements associated with each of the following: a. Securities Act of 1933 b. Securities and Exchange Act of 1934 c. 10-K report d. 10-Q report 2. Identify each of the following: a. The private sector organization that is responsible for setting financial accounting standards in the Uni

entity types

Restaurant/Bar: Lou and Jose plan to open a sports bar and restaurant where customers socialize and watch sporting events on large-screen TVs that hang around the bar. They do not have much money, but they do have Miriam, a wealthy investor who does not have time to participate in the business, but wants to provide capital to st

Potential changes in the American tax code

The US government is considering changing the tax code. The corporate taxes are among the highest compared to some other successful countries. Repatriated earnings are also taxed, so U.S. firms are reluctant to bring those earnings home; since firms do pay foreign income taxes on foreign earnings, many feel the additional US tax

Texas local government code on Hearing Examiners

There are provisions of the Texas Local Government Code that allow some police officers to have the benefit of Independent Hearing Examiners to review their discipline. # Identify the relevant provisions and briefly explain why they provide a disciplinary review process that is basically similar to labor arbitration.

Employee Safety, Health, and Welfare Law Paper

Explain the application and implication of the following laws for your employer. Be sure to analyze (but is not limited to) the following employee safety, health, and welfare laws: Family and Medical Leave Act (FMLA) Occupational Safety and Health Act (OSHA) Then, answer the following questions: What are employers' respon

State of Confusion and Civil Lawsuit

The state of Confusion enacted a statute requiring all trucks and towing trailers that use its highways to use a B-type truck hitch. This hitch is manufactured by only one manufacturer in Confusion. The result of this statute is that any trucker who wants to drive through Confusion must stop and have the new hitch installed, or

Budget Surplus in Account at Federal Reserve

Suppose that, due to drastic cuts in federal spending and strong economic growth, it now appears that the federal government will experience a $100 billion budget surplus in its cash account at the Federal Reserve. It will use the balance to retire $100 billion in government securities. What would be some of the possible effects

You are given the following long-run annual rates of return for alternative investment instruments: ? US Government T-Bills 3.5% ? Large-cap common stocks 12.1% ? Long-term corporate bonds 6.2% ? Long-term government bonds 5.6% ? Small-capitalization common stock 14.6% The annual rate of inflation during the period was 2.9%. Compute the real rate of return on these investment alternatives.

Assignment #2: Risk Assessment, Portfolio Management 1. You are given the following long-run annual rates of return for alternative investment instruments: ? US Government T-Bills 3.5% ? Large-cap common stocks 12.1% ? Long-term corporate bonds 6.2% ? Long-term government bonds 5.6% ? Small-capitalization commo

Government Revenue Stabilization Program

Scenario: You are the Assistant City Manager for Centropolis, a city of 500,000 people in the Midwest region of the United States. The City employs 6,000 people in 25 departments, with a budget of more than $1 billion. Centropolis is the core of a metropolitan area with a population of almost two million people. The city shar

Indifference curves can intersect if A. the consumer is poorly educated B. the two goods are high priced C. the consumer's income is very low D. all of thee above E. none of the above

Indifference curves can intersect if A. the consumer is poorly educated B. the two goods are high priced C. the consumer's income is very low D. all of thee above E. none of the above if the expected return from an investment is plotted along the vertical axis and the riskiness of the investment is plotted along the hori

Fund-Based and City-Wide Government Accounting

Chapter 11 The following are the transactions incurred by Gotham City. Prepare the journal entries required, first for fund-based accounting, including which fund it is made in as Part A. Second prepare the journal entries that would be made for city-wide accounting in Part B. 1 The city council passes

Performance Based Contracting, Market Research, and Other Topics

1. What is performance based contracting? 2. When is it appropriate to use Government Furnished Property? What are the advantages and disadvantages? 3. What are the primary rules concerning gifts regarding government employees? What is the overarching rule in the ethics arena that always provides a safe harbor for any dec

Regulatory Actions on Products

You are an entrepreneur in a fast growing high-tech industry. You have heard that the government plans to begin regulatory actions soon on your products. Because the industry is so new, there are no organizations joined together to look after the collective interests of the industry. What would you do in such a situation and wha

Questions

1. What are some of the biggest challenges you see facing those in the Government Contracting Career Field Today? 2. In addition to contractual authority we need to think about the fundamental elements that comprise a contract? In the common law certain elements that comprise a contract have been developed over time. what are

Totalitarian Government

What is a totalitarian government? What are the ethics of doing business in countries with totalitarian governments? Comment on opposing arguments (looking for holes and inconsistencies). Attempt to answer any arguments that are presented against your side of the argument.

Opposite of Regulations in the U.S.A.

What is the difference between our (U.S.) more individualistic society versus a more collectivist society such as China? What is the opposite of regulation (besides de-regulation)? 286 words.