Lesson 18: Ethics

Question 1

Note:
When answering questions/case studies on business ethics, you are required to:

Answer 1

1. Identify the ethical issue and related accounting principle/qualitative characteristic violated
2. Identify the stakeholders involved, their role/needs
3. Explain the financial effect of the issue and implications on users
4. Identify the alternative courses of action
5. Assess the possible outcomes of each course of action
6. Make a decision