Solving Ethical Dilemmas - 1611 Words

Solving Ethical Dilemmas in the Accounting Profession LaKeesha Lawler ACC/260 January 14, 2011 Dan Jensen Solving Ethical Dilemmas in the Accounting Profession The Dilemma of an Accountant Baker Greenleaf was one of the Big Eight accounting firms. Daniel Potter was a highly ethical accountant that placed a lot of value on integrity. He was hired to work as an accountant for the firm. Baker like many other firms was faced with a dilemma that tested the firm’s ethical standings. Even though a firm may be faced with a difficult decision, the firm’s ethical standing helps determine the best ethical decision for each situation. To reach the best ethical decision it is best to use philosophical approaches in addition to the†¦show more content†¦Dan is a guy that has high ethics and integrity who bases his decisions on those aspects. Baker Greenleaf is the firm handling the account. Baker’s reputation is at stake, if the wrong decision is made the firm’s reputation may be ruined. The firm could lose clients, revenue, and face lawsuits if the wrong decision is reached. The wrong decision may also cause the firm to lose investors. Oliver, who is the project senior and has about six years of experience with Baker risks losing a promotion. He also risks not gaining exclusive control over the account. This could cause Baker to lose profit. The client (SUB) has it reputation at risk. The clients may lose potential buyers if people discovered the SUB falsifies its reports. The clients may also face lawsuits if the reports are not corrected. Gene is assisting Dan with the account and she may have a promotion at risk too. She has her reputation, ethics, and integrity on the line. Participating with the wrong decision could also put her job at Baker at risk. Clients/customers of the SUB may be over charged if the reports are falsified. The clients/customers may also choose to do business with another company because of the situation. Solution for the Dilemma Dan’s decision to refuse to falsify the reports was the right decision not only for himself but the firm as well. Dan’s decision was based on the deontology approach; he was more concerned about his duties, obligations, morals,Show MoreRelatedSolving Ethical Dilemmas Essay1501 Words   |  7 Pages An ethical dilemma is defined as a complex situation that will often involve an apparent mental conflict between moral imperatives in which to obey one would result in transgressing another . When individuals are faced with an ethical question, we tend to search for a â€Å"correct answer† when responding. However, these types of questions do not always seem to have a straightforward answer. The arguments which may arise from an ethical dilemma question are typically examined in two ways: whether peopleRead MoreDuty to Warn Essays1522 Words   |  7 PagesDuty to Warn Jessica Hall PSYCH/545 09/4/2011 Dr. P. 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