Ethics in Accounting

Financial Decision-making is one of the most important things in our business world today. In today’s diverse world, ethics in accounting and financial decision- making is a process that many organizations have trouble dealing with. Many organizations put emphasis on ethics and the financial decision making process within the organizations( www.managemyaccounting.com(2007). It is expected that all organizations will behave in an ethical manner in the current economy. (www.managemyaccounting.com(2007). In today’s business world, it is difficult to define what ethics are because of the different ethical beliefs people have.

Today, business people do anything to earn money, even if it includes practicing unethical behavior. Greed is an unacceptable and unethical behavior that revokes a businesses’ ability to make money. Even though the goal of any business should be to create more wealth, some business practitioners’ unethical behaviors create somewhat of a barrier at time. In the long- run, that trust depends on ethical business practices that project income in the future. Dr. Smith,K., Dr. Smith,L (2003) Whether a person’s ethical values are developed from family, religion, or personal observation and experience, there are some basic ethical beliefs that everyone can agree with. According to Mantzke, K. Carnes, G., & Tolhurst (2003), the need to infuse more ethics content into accounting programs is broadly accepted, ethics is only one of the many demands upon accounting curriculums. Implementing good ethical behavior in a business helps the business become very successful. In many organizations, bad ethical behavior can lead to many negative things within the company that affects every person tied into the company. These same concepts apply to the navy. In the navy, there is much diversity that a person must deal with, whether it is culture, religion, or simply sex, that has an extraordinary effect on “production”. People from different parts of the country are brought up differently than others, which create barriers and miscommunication within the workplace. In the naval aviation, the main goal is to repair aircraft, and produce good work and workers, whereas a businesses’ main goal is to make money. These goals seem easy to achieve, but can become difficult when ethical beliefs are involved. No matter what company or organization a person works for, ethics are a big part in decision making, whether it be financial or production. Based on the information provided, it seems to be that navy personnel have to come to ethical agreements in order to make the organization run smoother, as well as create excellent production. The navy implements a basic understanding of what ethical behaviors personnel must follow and understand which makes the navy a reasonable place to work. Furthermore, the purpose of ethics in a business or organization is to make certain that employees abide by a code of conduct that will facilitate, if not encourage, confidence in their products and services.

Ethics are important in accounting and financial decision-making because, ethical beliefs and values provide the foundation on which a civilized society exists. Without a foundation, the civilization would fall. The surbanes-oaxley act of 2002