Principles Of Accounting Volume 2 Managerial Accounting Accounts And Finance Ethical Issues In Inventory Management

You are searching about Principles Of Accounting Volume 2 Managerial Accounting Accounts And Finance, today we will share with you article about Principles Of Accounting Volume 2 Managerial Accounting Accounts And Finance was compiled and edited by our team from many sources on the internet. Hope this article on the topic Principles Of Accounting Volume 2 Managerial Accounting Accounts And Finance is useful to you.

Ethical Issues In Inventory Management

When we talk about ethics violations we immediately think of executive management, or Wall Street scandals, and rarely do we realize that it happens more often from the bottom half of the workforce than the glass tower. Ethics violations in inventory management are committed by:

1. Knowingly misinforming customers or potential customers about the pricing of storage space or other services, and the status of their inventory.

2. Favor one vendor over another when purchasing goods or services because you have a friend who works for the preferred vendor or because of potential financial gain.

3. Cover-up of damaged products going out in transit.

4. Manipulating inventory figures and levels when customers question their inventory levels or when management inquires about inventory positions.

5. Slowing down work to get overtime.

6. Behavior that favors certain employees for potential future benefits and friendships.

These are just a few examples and I’m sure you can find many more if you look closely at your organization. Why do these ethical violations occur? One reason is lack of ethics. A code of conduct is a specific set of professional behaviors and values ​​that employees must follow, including confidentiality, accuracy, confidentiality, integrity. Large organizations have a code of conduct, but violations occur because the standards are not enforced or because management feels the violation is not worth their time.

Medium to small organizations do not have a code of ethics program because they do not know how to develop one, it is not important to them or it is too expensive in terms of financial and human resources.

Enron and Goldman Sachs are good examples of why it is important for a company to have a code of conduct. The bottom line in the business world is to make money and there is nothing wrong with that but, when it consumes your organization and you take the attitude of making it at any cost, then the problem appears and people do anything. They can be ethical or unethical to make money.

A code of conduct places individuals within certain boundaries of what is acceptable in an organization in terms of behavior and business practices. The reality in the business world is that profit rules and as long as shareholders are happy, and companies have full employment, no one seems to care and ethics takes a back seat to everything else.

Ethics in business and world ethics are more important today than ever with so much discussion about the state of economic affairs. The journalist is on the lookout for the next business scam and after selling the news, will uncover every stone to uncover one. While traveling and working in Asia I have found the Asian culture to be less sensitive to business operations in that they do not care that they consume their every waking moment and they are not as quick to judge as Western nations.

Operating with honest principles and ethics is no less profitable than operating unethically. LeClair, Ferrell and Fraedrich in their book Integrity Management (1998) describe five well-known successful companies that you may recognize that invest organizational resources and are profitable and operate ethically.

1. Hershey Foods

2. Home Depot

3. Waste management

The old myth and saying “it’s not personal it’s just business” rings as hollow then as it does now. Business is personal especially when you take the time to build a business relationship with vendors and customers to get them to trust you, and acting in an unethical manner will definitely destroy any trust they have in your products or services and it makes it almost impossible. retrieved.

Video about Principles Of Accounting Volume 2 Managerial Accounting Accounts And Finance

You can see more content about Principles Of Accounting Volume 2 Managerial Accounting Accounts And Finance on our youtube channel: Click Here

Question about Principles Of Accounting Volume 2 Managerial Accounting Accounts And Finance

If you have any questions about Principles Of Accounting Volume 2 Managerial Accounting Accounts And Finance, please let us know, all your questions or suggestions will help us improve in the following articles!

The article Principles Of Accounting Volume 2 Managerial Accounting Accounts And Finance was compiled by me and my team from many sources. If you find the article Principles Of Accounting Volume 2 Managerial Accounting Accounts And Finance helpful to you, please support the team Like or Share!

Rate Articles Principles Of Accounting Volume 2 Managerial Accounting Accounts And Finance

Rate: 4-5 stars
Ratings: 5926
Views: 35019225

Search keywords Principles Of Accounting Volume 2 Managerial Accounting Accounts And Finance

Principles Of Accounting Volume 2 Managerial Accounting Accounts And Finance
way Principles Of Accounting Volume 2 Managerial Accounting Accounts And Finance
tutorial Principles Of Accounting Volume 2 Managerial Accounting Accounts And Finance
Principles Of Accounting Volume 2 Managerial Accounting Accounts And Finance free
#Ethical #Issues #Inventory #Management

Source: https://ezinearticles.com/?Ethical-Issues-In-Inventory-Management&id=5269949

Related Posts

default-image-feature

Primary Role Of The World Bank Is To Provide Financing Ghana Bank – One of Africa’s Most Prestigious Full Service Banks

You are searching about Primary Role Of The World Bank Is To Provide Financing, today we will share with you article about Primary Role Of The World…

default-image-feature

Primary Difference Between A Direct-Financing Lease And A Sales-Type Lease Real Estate Investing Via Web 2.0

You are searching about Primary Difference Between A Direct-Financing Lease And A Sales-Type Lease, today we will share with you article about Primary Difference Between A Direct-Financing…

default-image-feature

Pricing An Investment In Order To Earn A Return Finance Mutual Fund Investing 101: How You Make Money

You are searching about Pricing An Investment In Order To Earn A Return Finance, today we will share with you article about Pricing An Investment In Order…

default-image-feature

Price Includes 1000 Trade-In Discount & 1000 Dealer Financing Discount Overview of the United Arab Emirates (UAE)

You are searching about Price Includes 1000 Trade-In Discount & 1000 Dealer Financing Discount, today we will share with you article about Price Includes 1000 Trade-In Discount…

default-image-feature

Press Releases Where Financing Is Closed On Increased And Oversubscribed How to Plan a Successful Event

You are searching about Press Releases Where Financing Is Closed On Increased And Oversubscribed, today we will share with you article about Press Releases Where Financing Is…

default-image-feature

Prepare Monthly Stop Loss Carrier Billing And Process W Finance Tips for Online Stockmarket Trading

You are searching about Prepare Monthly Stop Loss Carrier Billing And Process W Finance, today we will share with you article about Prepare Monthly Stop Loss Carrier…