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13 Cards in this Set
- Front
- Back
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Act-utilitarianism (in moral philosophy)
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Emphasis on an individual act as it is affected by the specific circumstances of a situation
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Categorical imperative (in moral philosophy)
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Kant's specification of an unconditional obligation, to act as one thinks others should act regardless of circumstances
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Commission
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A percentage fee charged for professional services in connection with executing a transaction of performing some other business activity
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Contingent fee
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A fee established for the performance of any service in an arrangement in which no fee will be charged unless a specific fiding or result is attained, or the fee otherwise depends on the result
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Generalization argument (in moral philosophy)
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A judicious combination of the imperative and utilitarian principles, to act as one thinks other should act in a similar circumstance
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Independence
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A mental attitude and appearance that the auditor is not influenced by others in judgments and decisions
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Referral fees
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(1) Fees a CPA receives for recommending another CPA's services and (2) a CPA pays to obtain a client. Such fee may or may not be based on a percentage of the amount of any transaction.
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Rule-utilitarianism (in moral philosophy)
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Emphasis on the centrality of rules for ethical behavior while still maintaining the criterion of the greatest universal good
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Self-regulation
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Quality control reviews and disciplinary actions conducted by fellow CPAs -- professional peers
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Ethics
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Branck of philosophy which is the systematic study of reflective choice, of the standards of right and wrong by which it is to be guided, and of the goods toward which it may ultimately be directed
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Key elements of ethics
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Decision problems
Moral principles Consequences |
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Steps of the ethical decision process
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Define all facts and circumstances
Identify stakeholders Identify stakeholders' rights and obligations in general and to each other Identify alternatives and consequences Choose superior alternative with respect to consequences and/or rules |
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Philosophical principles in ethics
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The imperative principle (Kant)
The principle of utilitarianism - Rule Utilitarianism The generalization argument |
