chapter 3 definitions Flashcards
accounting scandal
A publicly exposed crime involving accountants/senior executives who alter accounting records for personal benefit.
auditors
An accountant from outside the company who checks the financial records.
code of ethics
A document that describes how a company’s employees should respond to différent situations.
corporate social responsibility
Conducting business in a way that is in line with society’s values.
dilemma
A situation where a difficult choice must be made between 2< options.
duty to accommodate
An employers’ obligation to take appropriate steps to eliminate discrimination against employees.
embezzlement
A type of accounting fraud in which an accountant/senior executive invents phony accounts and redirects money into them for personal gain.
ethical dilemma
A moral problem with a choice between potential wrong and right answers.
ethics
The principles of morality and proper conduct that people or businesses use to guide their behaviour.
fair trade
The practice of helping producers in developing countries bypass middlemen so they can sell their products for a fair profit.
fraud
The crime of pretending or lying.
the 9 types of fraud
Bank Fraud Consumer Fraud Contract Fraud Insurance Fraud Mail Fraud Pyramid Scheme Fraud Stock Market Fraud Telemarketing Fraud Welfare Fraud
gender discrimination
An employee being treated differently based on gender.
glass ceiling
The invisible barriers said to be faced by women, the disabled, or people from visible minorities as they approach senior leadership positions.
grassroots movement
A movement that develops from the bottom up.
