Essay on Ethical dilemma case - 709 Words

The institutionalization of business ethics: ethical dilemma case Laws and regulations are established by governments to set minimum standards for responsible behavior-society’s codification of what is right and wrong. The issues surrounding the impact of competition on business’s social responsibility arise from the rivalry among businesses for customers and profits. Intense competition sometimes makes managers feel that their company’s very survival is threatened. In these situations, managers may begin to see unacceptable alternatives as acceptable, and they may begin engaging in questionable practices to ensure the survival of their organizations. In the ethical dilemma case of Producto International (PI), Myron did a research about†¦show more content†¦Myron does not want to deny his promotion because his rejection can endanger his future in the pharmaceutical business industry. For now, he does not have much choice but to accept the position in the marketing team. Perhaps in a few years he will find a job with a more ethically responsible company. The disadvantage of Myron’s choice working on the project involves poor social responsibility. Any products or ingredients which present serious health damage (such as khat and betel nut tree) should not be sold or marketed to the public, or have these products should have warnings on the packages. This way, public can decide whether they wish to endanger their health or not to buy such products. Other disadvantages involve long-term reputation damage to the company and to Myron. Whenever PI will have lawsuits involving consumer complaints regarding PI’s products, Myron will be involved in a lawsuit as well, because he was a part of the research and marketing, and he was aware of dangers khat and betel nut tree present. This can lead to end of his career in the business pharmaceuticals industry. The role of laws is not so much to distinguish what is ethical or unethical as to determine the appropriateness of specific activities or situations. Laws establish the basic ground rules for responsible business activities. Most of the laws and regulations that govern business activities fall into one of five groups: 1) regulation ofShow MoreRelatedCase Analysis : Ethical Dilemma1318 Words   |  6 PagesTitle of Paper: Ethical Dilemma One INTRODUCTION Mrs. Smith, is an 81-year-old widow. She has been widowed for over twenty years. She has been very independent with some assistance from neighbors due to her son living out of the area and unable to assist. Recently, she has had issues with her independence. She has set two accidental fires that caused damages to her apartment, as well as had a recent fall in the bathtub. These issues have gained her son’s attention which has led him to requestRead MoreEthical Dilemma Case Study842 Words   |  4 PagesAn ethical dilemma is a situation by which its difficult to determine whether a situation is can be handled without disappointing both sides. Therefore, an ethical dilemma exists when the right thing to do is clear or when members of the healthcare team cannot agree on the right thing to do. Ethical dilemmas require negotiation of different points of view (potter, Perry, Stockert, Hall 2011pg 78). The case study briefly explains a situation between daughter and father regarding the fathersRead MoreEthical Dilemma Case1021 Words   |  5 PagesCASE ANALYSIS: Should we go beyond the law I. Ethical dilemma †¢ Nathan Rosillo is faced with an ethical dilemma. It seems that the river is the company’s least concern in its effort to make profit again. Here are the following issues that need to be addressed in this ethical problem: o First and foremost, standards from regulatory agency were loosened in such a way that wastes can now be directly dumped into Dutch Valle River. Nathan, finds dumping of wasteRead More Will the Real Lupe Garza Please Stand Up? Essay1216 Words   |  5 PagesAn ethical dilemma is defined as a moral issue, where a situation has two equivalent undesirable alternatives and neither choice will resolve the ethical predicament. Lupe Garza, mother of two children, is a temporary employee at a plant. Garza is an excellent and talented worker, and supervisors have taken notice in her skills. A human resource specialist named Sara Jones, mislead Garza in thinking she would unquestionably obtain a permanent job position at the plant, causing Garza to turn downRead MoreDuty to Warn Essays1522 Words   |  7 PagesDuty to Warn Jessica Hall PSYCH/545 09/4/2011 Dr. P. Duty to Warn The ethical dilemma I wish to explore is The Duty to Warn. This refers to the duty of a counselor, therapist to breach one of the most important bonds between a client and a therapist; the law of confidentiality. The therapist has the right to break confidentiality without the fear of being brought up for legal action. If the therapist believes that the client poses a danger, or is a threat to himself, someone else, or societyRead MoreThe Ethical Principles Of Respect For Autonomy984 Words   |  4 PagesThe case scenario presents Mark who has been involved in a car accident. Mark has suffered significant internal bleeding and needs a blood transfusion immediately for his survival. This has been clearly stated by his attending doctor. Mark is still conscious and oriented. Mark is a Jehovah’s Witness and receiving blood is against his religion. Mark signs a Refusal of Treatment document stating his wish not to receive a blood transfusion under any circumstances. His girlfri end, Pam, wants him to receiveRead MoreThe Ethical Dilemmas of Collecting Data and the Consequential Revision of Commodities, Culture and the Politics of Representations Definitions 1751 Words   |  7 Pagesinformation or data has become assets to companies, being regarded as property to be bought and sold to between companies. However, this has put forward the following primary ethical dilemmas surrounding human rights: the right to informed consent and the right to personal data. In addition to the creation of ethical dilemmas, the collection of human data has brought about a need for a revision of definitions. Commodities are known as a raw material or primary agricultural product that can be boughtRead MoreThe Role of a Nurse1565 Words   |  7 Pagesempathy, excellent communication skills both verbal and non-verbal. In some cases nurses are also required to become advocators for patients who are not able to communicate for themselves. A nurse is also required to be non-preju dice and understand and acknowledge other cultures and beliefs, for example some religions do not believe in blood transfusions, as a nurse it is important not to judge when faced with such a dilemma. It is paramount that the nurse is aware of each individual patient’s needsRead MoreRecidivism, And Its Potential Indicators Essay1320 Words   |  6 Pagesinsight into recidivism, as well as its nexus with mental health. However, as it currently stands, this proposal is riddled with ethical dilemmas. Israel and Hay (2005) identified non-maleficence, confidentiality and informed consent as the primary ethical conundrums researchers face and this is reflected in Doe’s proposal. Notwithstanding the presence of these ethical concerns, this essay will argue that they can be mitigated by altering research procedures. Enacting the alterations would assistRead MoreEthical Dilemmas Of The Workplace1538 Words   |  7 Pages1. Discuss an ethical dilemma that you have had to face in the workplace. Ethical dilemmas often occur when a manager or an employee is faced with two or more conflicting choices. Give as many facts and details as possible in describing your dilemma. The most difficult ethical dilemma I have dealt with was a summer job I had this past summer, while I was working for a bakery in my hometown. This past particular summer really tested what I believe is right and wrong and how to speak up. One of my

Shakespeare s Sonnets Reoccurring Themes - 1479 Words

â€Å"Parting is Such Sweet Sorrow†: Reoccurring themes in Shakespeare’s Sonnets. English poet William Shakespeare is known for his astounding works around the world. Sonnets are beautifully constructed and rear lasting truths about the world we live in. All of Shakespeare’s sonnets are in the form of an English sonnet. He used this method so frequently that it has coined the term the Shakspearian sonnet. Shakespeare has written a collection of 154 sonnets’, the first 126 sonnets address a young man and the last, about a woman (About†¦). It is believed that Shakespeare was a bisexual; a lifestyle not accepted in that period. Three of his most popular works were chosen to exemplify the overall theme. Sonnets 18, 29 and 116 were chosen from the 154 others because they are a few of the most popular of his works in this form. The individual theme, tone through diction, and meaning of the poems will be analysed to prove Shakespeare’s works are about the idealized power of love and immortalizing the subject. Sonnet 18 (Broadview Anthology 18) is the most popular of Shakespeare’s sonnets. It is the ideal love poem that truly embodies his love the individual he speaks so fondly of in this English sonnet. This sonnet takes power away from death by immortalizing the beloved. The beloved’s beauty will not fade; nor will she ever die because she will live on forever through this poem. The poem begins with him praising the beloved through metaphors and then shifts to praise his poem by makingShow MoreRelatedComparing And Contrasting Two Sonnets1141 Words   |  5 Pages Comparing and Contrasting Two Sonnets ‘Sonnet 116’ by William Shakespeare and ‘What Lips My Lips Have Kissed, And Where, And Why† by Edna St. Vincent Millay are both sonnets that discuss companionship and a glimpse of each poet’s experiences. In ‘Sonnet 116’, Shakespeare illustrates how capability is weakened by its metaphysical stereotype and ideals such as, love, while on the contrary, in ‘What Lips My Lips Have Kissed, And Where, And Why† Millay feeds on the chaos between the idealRead MoreWilliam Shakespeare s Sonnet 116944 Words   |  4 Pages ‘Sonnet 116’ by William Shakespeare and ‘What Lips My Lips Have Kissed, And Where, And Why† by Edna St. Vincent Millay are both sonnets that discuss companionship and a glimpse of the poets’ experiences. In ‘Sonnet 116’, Shakespeare illustrates how capability is weakened by its metaphysical stereotype and ideals such as, love which never seems to wither away according to Shakespeare while on the contrary, in ‘What Lips My Lips Have Kissed, And Where, And Why† Millay feeds on the chaos betweenRead MoreTo Be or Not to Be2049 Words   |  9 Pagesmost it leaves no question as to who wrote these infamous words. William Shakespeare is regarded by some as the greatest author within all of the English language. Regardless of one’s true opinion of Shakespeare’s writings, they continue to cycle their way from one generation to the next. His works still hold significant value within all levels of academic teachings. S hakespeare’s literatures range from poems and plays to sonnets. Once he gathered the notion of how the style of blank verse operatedRead MoreEssay on Emily Bronte Illusion and Reality3043 Words   |  13 PagesA consideration of how Emily Bronte, Tennessee Williams and Shakespeare consider the notion of illusion and reality in the context of a love story. Wuthering Heights follows the Romantic Movement, a movement within literature during the late 18th century with captured intense emotion and passion within writing as opposed to rationalisation. Emily Bronte’s main focal point within the novel is the extreme emotion of love and whether it leads to the characters contentment or ultimate calamity. ThisRead MoreEssay on Dramatic Effects in Romeo and Juliet III.12285 Words   |  10 PagesRomeo and Juliet is a sixteenth-century play written by William Shakespeare. Amongst the most renowned of Shakespeares plays, Romeo and Juliet is a tragedy that focuses on the fated relationship of two star-crossed lovers. The play focuses on themes of love and hate, mostly concerning the feud between the two opposing families, the Montagues and the Capulets. This play came at a time when such social events like courting were not just accepted, but expected. Witchcraft and fate were also stronglyRead MoreThe Tragedy Of Hamlet By William Shakesp eare2594 Words   |  11 Pages N. Julian A tragedy is a dramatic work that is about a character whose tragic flaw leads to his downfall and to the demise of many of the other characters. William Shakespeare was a playwright during the Elizabethan Era who was made famous for his literary works of tragedies, comedies and sonnets. One of Shakespeare?s most renowned tragedies is Hamlet. In this classic tragedy the protagonist, Hamlet, pursues revenge and seeks justice against the antagonist, Claudius, for the murder of King

Needs of Ifrs Education in India Free Essays

string(64) " urn should translate into a greater demand for IFRS expertise\." Needs of IFRS Education in India Prepared By Dr. Atul Bansal, Principal ,M. Com. We will write a custom essay sample on Needs of Ifrs Education in India or any similar topic only for you Order Now , LL. B. , PMIR, M. B. A (Fin. ), Ph. D. , MIAA, MICA C. Z. Patel College of Business and Management (S. P. University ), Vallabh Vidya Nagar – 388120. Distt. Anand ( GUJARAT) Mobile : 09377023808 Fax : 02692-236700 e. mail : dr. atulbansal@gmail. com Introduction â€Å"In the age of globalization India insulates itself from development taking place worldwide and it is imperative for us to make a formal strategy for convergence with IFRS to harmonize with accounting standards accepted worldwide. The global trend towards IFRS represents a significant change and opportunity for many investors, companies and capital market. IFRS a global set of accounting standards may provide benefits such as greater transparency and comparability of financial information across countries. As companies compete globally, the movement towards IFRS is rapidly becoming one of the most important issues for companies to address today. Starting April 1, 2011, India has made it mandatory for every listed company to adopt International Financial Reporting Standards or IFRS.One year is a very short time when it comes to a major overhaul of the accounting process. Currently, India has an extremely limited pool of resources that have any form of training or experience in IFRS. To broaden the pool of trained resources, it is important to incorporate IFRS training in colleges, universities, and the professional accounting syllabus of the ICAI. Initiative by individual institutions to come up with the task of providing training and expertise in IFRS will also go a long way as it’s a big task and ICAI alone will not be able to bridge the gap.This paper throw lights on importance and need of IFRS education in India, the extent to which IFRS are recognized around the world and explore the possibilities of implementing IFRS in the Indian Keywords: IFRS, Accounting, Research, Purpose, Applicability, Education, IASB, ASB , Consideration, Convergence, Access, Design, Implementation International Financial Reporting Standards (IFRS) is a set of accounting standards, developed by the International Accounting Standards Board (IASB) that is becoming the global standard for the preparation of public company financial statements.The IASB is an independent accounting standards body, based in London. Importance of IFRS While converting to IFRS is a complex process, these standards have important and positive implications for organizations and individuals that adopt them. For companies: Reduced cost of capital and the ease of using one consistent reporting standard from subsidiaries in many different countries. For investors: Better information for decision making, leading to broader investment opportunities. For national regulatory bodies: Better information for market participants in a disclosure- based system. The Purpose of IFRSToday businesses are crossing their national boundaries, promoting the synchronization of accounting standards across the globe. The objective behind the IFRS is to create a common platform for better understanding of accounting, internationally. By adopting IFRS, a business can present its financial statements on the same basis as its foreign competitors, making comparisons Wider Applicability Furthermore, most jurisdictions that report under IFRS, in cluding the EU, mandate the use of IFRS only for the listed companies. However, in INDIA, IFRS would apply to a wider group of entities than their international counterparts.This is primarily because of a large number of private enterprises getting covered under the size criteria, based on their turnover and/or their borrowing. Companies also may need to convert to IFRS if they are a subsidiary of a foreign company that must use IFRS, or if they have a foreign investor that must use IFRS. It’s Time to Learn IFRS ICAI has announced convergence to IFRS by 2011 which is not far away, since firms would need to start preparing themselves right now to adopt this change. It is time to prepare for the change, which will bring substantial and significant business transfiguration.European Union 2005, Brazil 2010, Canada 2011, India 2011, Russia Undecided, Australia 2005, Israel 2005, New Zealand 2005 Conversion to International Financial Reporting Standards (IFRS) The adoption of IFRS compliant accounting standards in India will, among other things, allow Indian companies greater access to international capital markets. However, IFRS adoption is not without its challenges. For instance, companies that have already adopted IFRS have had to enhance their systems and processes to generate the requisite amount of information that is necessary for IFRS reporting.In addition, education and training are important for the company’s finance as well as general management staff. But perhaps the biggest challenge today is that of educating finance professionals so that they can reconstruct the global economy while adding value to their organizations. Need of IFRS Education ICAI, CII, C. Z. P. C. B. M and many private bodies are conducting IFRS awareness program through Seminars and Presentations and it is making the companies aware of the compulsion to prepare for the inevitable and how it is going to help.We believe that IFRS expertise demand could be fulfilled only through dedicated IFRS trainings and diplomas that equip finance professionals/ students with all necessary skill set required. â€Å"An IFRS Degree and Diploma holds great significance in a professional’s resume today. IFRS transition is a good opportunity for finance professionals in India as it holds a big business opportunity in the country and abroad. And as the norm is going to become a mandatory feature for Finance companies to adhere from 2011, the importance of professionals with an IFRS diploma will increase manifold.It will certainly act as a great tool to select the best professionals from the world of finance, thereby giving a major boost to the industry as a whole†. Many Indian companies have still not started investing time and efforts on the implementation of this transition process considering the overall lack of clarity on several key aspects. However, as this clarity emerges and the deadline draws closer, consultants expect to see a lot more companies working on implementing the changes and increasing their internal readiness through technical up gradation, process and technological changes which in urn should translate into a greater demand for IFRS expertise. You read "Needs of Ifrs Education in India" in category "Papers" â€Å"IFRS transition in Europe, Canada, South America and Asian countries including India is creating huge requirements of people having good understanding of IFRS. A person with IFRS expertise will prove to be a valuable resource having an excellent job opportunity†, opined Abhishek Asthana, Chartered Accountant and member of ICAI. Adoption of IFRS by a number of listed companies by 2011 would result in a sign ificant demand for IFRS resources. Substantially, all of these resources would need to be generated internally by training existing staff.So, Finance professionals and students should definitely gear up and focus on getting their hands on IFRS expertise to widen opportunities and strengthen their resume. Consistent, comparable and understandable financial information is the lifeblood of commerce and investing. Presently, there are many sets of reporting standards applicable in different parts of the world. In search of a new financial order: one global standard for financial reporting makes sense. 50% of Indian accounting standards are similar to IFRS, but does that mean that fifty percent of our problem is solved?Answer is definitely a No. A big difference between Indian GAAP and IFRS is that accounting in India is not only governed by accounting standards but also by various legislations and governing bodies like Income Tax Act, Companies Act, SEBI, etc. In case of divergence between accounting standards and these legislations, accountants usually prefer a way which is most beneficial to them, says Abhishek Asthana, an IFRS expert, Chartered Accountant and member of ICAI. However, IFRS is not less than a law. All key areas and financial results may vary considerably on transition to IFRS.The key differences between Indian GAAP and IFRS: Firstly, under IFRS, a company would be able to recognize revenue with reference to stage of completion, if and only if, the agreement transfers control to the buyer, as well as the significant risks and rewards of the ownership of the work. But the guidance note and accounting standards issued under Indian GAAP considers it appropriate to recognize revenues once there is a legally enforceable agreement for sale and other conditions for recognition of revenue are met.Secondly, under IFRS, if certain non-employee obligations are settled through ESOP, IFRS will require fair value accounting for such options and cost differential between grant price and fair value will have to be recognized. Moreover, subsidiaries will need to account for the ESOP costs for options granted to its employees by the parent company. This is likely to have a major impact in the c ase of multinational subsidiaries operating in India, since many of their senior executives are given stock options in the parent company listed in the US/global markets, and where such accounting was not required under Indian GAAP so far.Thirdly, IFRS entails discounting of future receivables and payables to their current values using expected interest rates. The application of time value of money concept will have impact on the amounts recorded for long-term security deposits, payables falling due after one year and revenues earned in advance for long-term contracts/ arrangements. Fourthly, Companies will also have to comply with IAS 39 on financial instruments, particularly with regard to accounting for derivatives. Under IFRS, hedge accounting is permitted for such transactions provided certain conditions are met.Fifthly, IFRS requires use of fair value. Whereas Indian GAAP follows historical cost convention except for fixed assets-which could be revalued. For tax purposes, the potential problem with fair value accounting is that it gives rise to the recognition of unrealized profits and losses. The question is whether these profits should form the starting point to calculate taxable profits where no specific tax rule currently exists to the contrary. Sixthly, Entities in India prepare their financial statements in Indian rupees while under IFRS reporting is required under functional currency, i. e. he currency of the primary economic environment in which the entity operates, which may be different from the local currency. For an Indian entity it is possible that a significant portion of revenues may be derived in foreign currencies, pricing is determined by global factors, assets are routinely acquired from outside India and borrowings may be in foreign currencies. All these factors need to be considered to determine whether the Indian rupee or foreign currency is indeed the functional currency. Convergence to IFRS is not a mere accounting exercise but will have significant business implications.Hence, companies would augur well to start preparing early and not wait for the last moment to rush to. Suggestions for Improvement Adoption of IFRS by a number of listed companies by 2011 would result in a significant demand for IFRS resources. Substantially, all of these resources would need to be generated internally by training existing staff. So, Finance professionals and students should definitely gear up and focus on getting their hands on IFRS expertise to widen opportunities and strengthen their resume. Central and state government should adopt IFRS Education system.Improvement programs i. e. symposium, seminar is helpful for IFRS system. Graduate level accounting syllabus should be modified as per Latest Aspects of accounting including IFRS. University Grants Commission [UGC] and All India Council for Technical Education [AICTE] adding IFRS Accounting System in the Universities and Institution course curriculum. Looking at the present scenario of the world economy and the position of India convergence with IFRS can be strongly recommended. But at the same time it can also be said that this transition to IFRS will not be a swift and painless process.Implementing IFRS would rather require change in formats of accounts, change in different accounting policies and more extensive disclosure requirements. Therefore all parties concerned with financial reporting also need to share the responsibility of international harmonization and convergence. Keeping in mind the fact that IFRS is more a principle based approach with limited implementation and application guidance and moves away from prescribing specific accounting trea tment all accountants whether practicing or non-practicing have to participate and contribute effectively to the convergence process. There is an urgent need to address these challenges and work towards full adoption of IFRS in India. The most significant need is to build adequate IFRS skills through IFRS Education and an expansive knowledge base amongst Indian accounting professionals to manage the conversion projects for Indian entities. This can be done by leveraging the knowledge and experience gained from IFRS conversion in other countries and incorporating IFRS into the curriculum for professional accounting courses.References 1. Lantto, Anna-Maija and Sahlstrom, Petri (2009). Impact of International Financial Reporting Standard adoption on key financial ratios. Accounting and Finance, 49, 341–361. a 2. Armstrong, Chris S. , Barth, Mary E. , Jagolinzer, Alan D. and Riedl, Edward J. (2009). Market Reaction to the Adoption of IFRS in Europe. Accounting Review Forthcoming. 3. Daske, Holger, Hail, Luzi, Leuz, Christian and Verdi, Rodrigo S. (2008). Mandatory IFRS Reporting Around the World: Early Evidence on the Economic Consequences. ECGI – Finance Working Paper No. 198/2008; Chicago GSB Research Paper No. 12. 4. Callao, Susana, Ferrer, Cristina, Jarne, Jose I. and Lainez, Jose A. (2009). The impact of IFRS on the European Union: Is it related to the accounting tradition of the countries?. Journal of Applied Accounting Research, 10(1), 33 – 55. 5. Ramanna, Karthik and Sletten, Ewa (2009). Why do Countries Adopt International Financial Reporting Standards?. Harvard Business School Accounting Management Unit Working Paper No. 09-102. 6. Barry J. Epstein and Eva K Jemarkowicz ‘IFRS’ John Wiley Sons, Ltd IASB Due Process Handbook of International Accounting Standards Committee Foundation . 7. Ralph Tiffin’ â€Å"The Complete Guide to IFRS including interpretation†, Thorogood Publication, London. 8. http://www. researchandmarkets. com/reports 9. Web: www. iasb. org How to cite Needs of Ifrs Education in India, Papers

Sole Proprietorship and World free essay sample

It is becoming a huge aspect of social life as well as communications. We are seeing more of the workforce not having to commute, but work from home, which can change the way we design living communities. It is bringing education to those that dont have schools more everyday as well. The world needed major changes and they did come. Technology gave the world what it needed to be in the shape and form it’s in now. Inventions kept coming and the world kept spinning. Changes in the world were major and better, things stopped being so crowded and a lot of things that happen stopped, because they had a better way of doing things; once technology built on to what helped the problem pass on. It changed people lives and helped them organize them better and faster. It’s also helping scientists discover and invent new things. In the business world technology changed things, also. We will write a custom essay sample on Sole Proprietorship and World or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page It has changed in a form to help the business world move faster and revolutionized almost beyond recognition in the past few decades. Communication and information in the business world travels faster and faster, the world seems smaller and smaller as technology takes place of how things are going. For instance, computers hold more things in place and are more organized than filing cabinets and drawers. On a computer you can just save and make sure that everything is in place. When it comes to organizing in a filing cabinet or a drawer, things get sloppy and you have to reorganize them again. With the internet being around for nearly a quarter of a century, it has changed in both the private and business sector. Internet teaches the world and people how to do things in better ways than normal. The internet became one of the biggest resources that the world has today. The internet shows multiple ways of doing things and giving people the freedom of their own. The Internet has given humans more freedom than ever, because the internet is not a sole proprietorship, the government does not manage the internet, but the internet is managed by the users. Families and friends can keep in touch, share photos and with the addition of the webcam can see one another. Communication on the internet is faster and easier with email and chat rooms. Researching on the internet is another big aspect to the internet and the computer. Researching and the internet has a lot in common, you can find things on the internet to put into essays and just doing research in general. Without the internet, we would still be in the library for hours trying to find things that need to be researched. In conclusion, I think that technology has brought the world into an better aspect and it has brought better ways into the world than what we have being expecting. Without technology this world would be lost and the people in this world would just be zombies. Especially with going to school and trying to get an education. Nothing would be able to succeed in this world. All these things that have been made with technology alone have been a great invention and have passed on itself after generation and generations. Things that have been in technology will forever be remember and will live on in the technology world.