Socrates Summary

Socrates speaks about constructive philanthropy which business and every social person needs to undertake .Managers are people of the management who promote the ideals of the management to the world. They are the face of the management. Though organizations do not have formal code of ethical principles they believe that they need to have an atmosphere of doing thing the right way. There are no set rules as to what is right and what is wrong and managers have increasingly used this to define the approach of organizations to right thinking .normally managers believe in the outcome of business decisions and use this to protect organizations from unhealthy practices. In this context managers have to use and impose rules fairly and impartially It …show more content…
Metaphorically accounting is the language of business and so information is the commodity through which decision making is done .The purpose of ethical decision making is not only to improve the responsibility of accounting as a profession but also ensuring that there is a morality to accepting a moral good to people involved.
Accounting mangers are the ones who take decisions and have the ability to account themselves morally to whatever actions they take. By doing this they benefit the organization and the …show more content…
It is just not possible to discharge one’s duties without bringing in imagination. The world of information is dispersed while self interest is divergent and into this comes in the imaginative rehearsal of accounting.. This helps one to understand how accounting was and how it is today. This is the result of certain federal security laws which were institutionalized some years ago what is acceptable accounting practice has shifted in definition but more towards rules and standards which was held over by the power of the authority to punish wrongdoings in accounting practice. The generally accepted accounting principles which were basically social in nature has now become a standard which accountants have to compulsory follow. This is imagination which tries to bring in a balance between the social aspect of community and to the regulation and law. Stakes are very high when a balance has to be struck. Hence it is expected that accounting will have a judicious balance of the two. Could we perceive a world where the accountants have the power to write laws and rules? There has to be some vaguely defined social norms within which there rules fall. The rules have to be made clear and should be unimpeachable and if evasion is taking place then law should be able to handle law breakers. This is the