accounting question

UD SBA / Walk The Talk

Suggestions To Assist In Considering A Case Or Ethical Situation

“Resolved”

· Review the details & background of the case

· Identify the Ethical problem, issue or conflict case presents

· Generate possible Solutions

· State probable Outcomes of each main solution

· Describe Likely impact of each solution on people’s lives

· Explain Values upheld & violated by each main solution

· Evaluate the values, outcomes, likely impact of solutions

· Decide which solution is best & justify your decision

· Defend the decision against any weaknesses

Useful Ethical Principles to Consider

Rules:

· Do not deceive

· Do not harm others

· Keep promises and act faithfully

· Permit and encourage others to act rationally and freely

· Keep confidential information in proper circles

· Do not violate the law

Respect Rights to:

· Knowledge. Hidden defects in product I am considering purchasing

· Privacy / Due Process / Safety

· Free Expression of Opinions / Complaints

Consider Types of Justice / Fairness:

· Procedural: insure a fair chance at due process

· Compensatory: fair compensation for harm done

· Retributive: punishment received as deserved

· Distributive: fair distribution of benefits & burdens in society

Four Basic Elements of a Capitalist System:

· Profit: right to earn & keep earnings from business dealings over & beyond the cost of doing business

· Private Property: right to own property & dispose of it as the owner sees fit

· Competition: striving after the same goal, profit, or market by more than one individual or business

· Fairness or Justice: the principle that keeps the competition legal, ethical, open , fair & honest.

Religious & / or Humanitarian Ideals:

· The Golden Rule

· Beneficence – desire / commitment to make the world better