Intermediate Accounting/Ethics

Ethical behavior is the cornerstone of the accounting profession. There have been many corporate scandals involving individuals who acted in an unethical, and often times illegal, way.

Ethics is the belief system that permits us to distinguish right from wrong. It is something that we develop over our lifetimes and serves to help us identify good and bad behavior.

Everyone has faced ethical situations in school and will face similar situations at work. We should be capable of identifying ethical concerns and analyzing our options, that is, what is the right and wrong thing to do. Making an ethical decision means we choose the best option available under the circumstances.