Facts
In this scenario, Gil Frank while working on the College App Services accounts encounters a situation where there is some error in the books of accounts and the trial balance is out of balance indicating there is some error in the transactions recently posted. In order to finish his job by 5’o clock, Gil Frank decides to adjust the difference in the miscellaneous expenses account and leaves the error for the next month.
Ethical issues
This situation presents the ethical issues, and Gil Frank is feeling pressure to perform in such a way that is unethical. This situation is influenced by the three major sources of pressure. First, the decision is directly providing time saving incentive for Gil Frank to act in unethical way, second, Gil Frank can maintain its reputation of performing duties in a timely fashion and Gil Frank also can avoid embarrassment of being unable to balance the trial balance.
Important Questions
In …show more content…
prepare books of accounts that provide truthful information).
Principle of Justice – The decisions Gil Frank choose have a consistent logical basis that supports the decision.
Consequences of Gil Frank Decision
Gil Frank decision will impact three parties, i.e.
Gil Frank – In short run this decision may impact Gil Frank in a positive way, because Gil Frank is currently unable to close the books of accounts in timely manner, he can save te as well as avoid embracement by acting in unethical way.
College App Services – Inflating miscellaneous expenses may result in reduced profits for the month of march which may have a great influence on the College App Services future performance.
Stakeholders (users of the accounting information) – The misrepresented books of accounts may lead to cost stake holders because as the month of march will have below normal profit, it may result in bad decision hurting both the stakeholders as well as the College App Services itself.
My
In this scenario, Gil Frank while working on the College App Services accounts encounters a situation where there is some error in the books of accounts and the trial balance is out of balance indicating there is some error in the transactions recently posted. In order to finish his job by 5’o clock, Gil Frank decides to adjust the difference in the miscellaneous expenses account and leaves the error for the next month.
Ethical issues
This situation presents the ethical issues, and Gil Frank is feeling pressure to perform in such a way that is unethical. This situation is influenced by the three major sources of pressure. First, the decision is directly providing time saving incentive for Gil Frank to act in unethical way, second, Gil Frank can maintain its reputation of performing duties in a timely fashion and Gil Frank also can avoid embarrassment of being unable to balance the trial balance.
Important Questions
In …show more content…
prepare books of accounts that provide truthful information).
Principle of Justice – The decisions Gil Frank choose have a consistent logical basis that supports the decision.
Consequences of Gil Frank Decision
Gil Frank decision will impact three parties, i.e.
Gil Frank – In short run this decision may impact Gil Frank in a positive way, because Gil Frank is currently unable to close the books of accounts in timely manner, he can save te as well as avoid embracement by acting in unethical way.
College App Services – Inflating miscellaneous expenses may result in reduced profits for the month of march which may have a great influence on the College App Services future performance.
Stakeholders (users of the accounting information) – The misrepresented books of accounts may lead to cost stake holders because as the month of march will have below normal profit, it may result in bad decision hurting both the stakeholders as well as the College App Services itself.
My