Locate an article from the past 12 months discussing ethics in accounting and financial decision-making.
Use the Internet, or other resources to locate an article discussing ethics in accounting and financial decision making. Address the following items:
Summarize the article.
Discuss how the concepts of the article relate and/or apply to your current or former organization.
Make recommendations for improvement for your organization based on the article.
Explain the importance of ethics in accounting and financial decision-making.
Include a description of the Sarbanes-Oxley Act and its impact on accounting and financial decision-making.
Ethics Article Review: Finance
Article: The Bailout's Biggest Flaw by Justin Fox, Time Magazine
September 28, 2009, Volume 174, No. 12
Justin Fox in his article contends that the epic intervention of the US government to save the economy after the Lehman Brother's catastrophic bankruptcy averted disaster. It was successful. However it is this success that makes it difficult to address the reasons and causes behind what ailed the US financial system in the first place. Fox contends that a year on, we have learned the following lessons - one, that the 3 decades old and evolving global financial system is dangerously fragile, two - that the US government is capable of averting complete financial meltdown and three, that to this day, the US government hasn't been doing much of anything to get to the root of the problem to avoid such disasters in the future.
The world financial system is deeply dependent and related to the demands and health of the US economy - the biggest economic market in the world. While there are new emerging markets, the US is still the heart of the global economy with American consumers dictating supply and demand worldwide. It is, according to Fox, the responsibility of the US government to regulate the Financial sector, to institute policies that would not make the US financial market a free for all for the likes of Bernard Mad off and for the colossal mistakes of the subprime mortgage sector that led to the downfall of Lehman Brothers and the American Real Estate - especially since it was real estate and the plan to own property that allowed America a way out of the 20's depression. In the 1930's treasury Secretary Andrew Mellon purged the 'rottenness' out of the system by leaving financial markets alone - therefore it collapsed and despite the misery brought by the collapse it ...
The solution locates and provides an apt article for review in relation to ethics and financial decision making. As an example, the article "The Bailout's Biggest Flaw" by Justin Fox, Time Magazine's September 28, 2009 is analysed, reviewed and studied for elements of ethical and moral dilemma in relation to corporate finance and decision-making. The Sarbanes-Oxley Act is discussed in reference to the implications of the article and an analysis of a 'simulated current company' of the writer in relation to lessons of corporate ethics & morality from the article is also included. The solution follows the APA-format. A word version attached for easy printing.