Ethical Dilemmas - 1374 Words

Abstract According to the phase 2 individual project assignment instructions, each student is asked to look at two scenarios and answer the related ethical questions following each one (CTU Online, 2013). Additionally, it is asked that each student provide a discussion on the new GAAP guidelines for consolidating entities, and to provide an example of a firm that has experienced trouble for failure to comply with the GAAP guidelines. Ethical Dilemmas in Partnerships Scenario 1: In the first scenario, there are two partners in an antique business, Mr. Right and Mr. Wrong. Mr. Right manages the store, and Mr. Wrong travels and purchases†¦show more content†¦GAAP uses to models for consolidation which are variable interest entities (VIE) and voting interest entities. A concept does not exist for a firm with less than a majority of voting rights. According to Ernst and Young (2011), another aspect of consolidation is the principle-agent evaluation in control assessment. This states that in VIEs, consolidation is based on economic considerations, while with voting interest entities there is no explicit concept. Another aspect is consideration of kick-out rights and participating rights in control assessment. In this concept â€Å"VIEs are substantive if unilaterally exercisable by a single party† (Ernst Young, 2011). Voting interest entities are exercisable by a majority of parties. Consideration of related parties in control assessm ent states that VIEs have an aggregated interest of related parties and de facto agents in some cases, while no consideration exists in voting interest entities. In Investment Company accounting, the investment company records all of its investments in entities at fair value. Where there is a decrease in ownership provisions, guidance applies to non-profit activities and businesses (with or without loss of control). Scope excludes conveyances of oil and gas mineral rights, and sales of in-substance real estate. Significant events that happen between reporting dates must be included in the financial statements when different dates are used. The reporting entity and theShow MoreRelatedEthical 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 myRead MoreEthical Dilemmas Of The Workplace1291 Words   |  6 PagesEthical Dilemmas in the Workplace As a manager, you are the role model for staff. You set the standards, adhere to guidelines, and exemplify what you expect staff to model. By doing so, you are establishing and sustaining an organizational culture of ethics and integrity, which is the backbone of all successful endeavors. However, even the best structured organizations face ethical dilemmas in the workplace. It is how management recognizes and addresses these occurrences that will either set themRead MoreEthical Dilemma Assignment1766 Words   |  8 PagesCONSENT FORM Thank you for being willing to take part in this interview exploring ethical conflict or turbulence. I would like to transcribe the content of this interview to form a written document to be submitted to Sheffield Hallam University as a piece of assessed piece of coursework. It is important that you only take part in this interview if you want to. As such I would be delighted if you would complete and sign this confidentiality questionnaire prior to the interview taking place. (i)Read MoreCase 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 at Workplace Essay1192 Words   |  5 Pagesï » ¿Introduction – What is an ethical dilemma? Ethics is the term we give to our concern for good behavior.   It is human nature to not only be concerned with our own personal well being, but also that of others and of human society as a whole.   The difference between moral dilemmas and ethical ones, philosophers say, is that in moral issues the choice is between right and wrong.   In ethical ones, the choice is between two rights. Everyday Im faced with decisions of right and wrong, most of whichRead Moret Types of ethical dilemmas Mastery67Questions123Materials Essay2477 Words   |  10 PagesTypes of ethical dilemmas Mastery 67% Questions 1 2 3 Materials on the concept: Typical Moral Dilemmas Confronting Business Communicators Ethics and Law for Management Communication Top of Form 1. As part of an effort to hire younger workers, a multinational organization assures applicants that they will get to visit its offices in other countries and work with the employees there. However, only two out of every nine workers actually get selected for such projects. What moral dilemma best fitsRead 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 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 MoreVices and Virtues: Ethical Dilemmas of a Fading Man Essay1932 Words   |  8 PagesVices Virtues: Ethical Dilemmas of a Fading Man When Sidney Stewart was freed in Manchuria in 1945 after 3 years of imprisonment by the Japanese, the 6’3 American weighed 65 pounds (Goldstein). Stewart was an Army private stationed in Manila in 1942 when they were overpowered by the Japanese. The 21 year-old wasn’t the killing type of soldier. Of course he killed when required, but he wasn’t murderous. He’d been sent to Luzon on the Bataan peninsula after the Japanese invasion and was soonRead MoreNursing Leaders Are Struggling Ethical Dilemmas1263 Words   |  6 Pagesstruggling in ethical dilemmas daily. Ethical dilemma is one of the issue/challenge to the nursing leader. Ethical dilemmas occur when nursing personal values and beliefs conflict with some aspect of nursing care. The struggle is to provide the best nursing care despite of the nurses’ feelings. For example: RN/ nursing leader in residential home has always dilemmas while restraining the patient. sometime patient become so aggr essive that they can harm other people and worker. The dilemma in this situation