Complete Guide to Ethics Management an Ethics Toolkit for...

Complete Guide to Ethics Management: An Ethics Toolkit for Managers Written by Carter McNamara, MBA, PhD, Authenticity Consulting, LLC. Copyright 1997-2008. (This guide is located at http://www.managementhelp.org/ethics/ethxgde.htm on the Web.) The profession of business ethics has long needed a highly practical resource that is designed particularly for leaders and managers -- those people charged to ensure ethical practices in their organizations. Unfortunately, far too many resources about business ethics end up being designed primarily for philosophers, academics and social critics. As a result, leaders and managers struggle to really be able to make use of the resources at all. Also, far too many resources about business ethics†¦show more content†¦This document contains the following sections: Document Fills Void of Practical Ethics Information for Leaders and Managers What is Business Ethics? 10 Myths About Business Ethics 10 Benefits of Managing Ethics in the Workplace One Description of a Highly Ethical Organization Ethics Management Programs: An Overview 8 Guidelines for Managing Ethics in the Workplace 6 Key Roles and Responsibilities in Ethics Management Ethics Tools: Codes of Ethics Ethics Tools: Codes of Conduct Ethics Tools: Policies and Procedures Ethics Tools: Resolving Ethical Dilemmas (with Real-to-Life Examples) Ethics Tools: Training About the Author Bibliography of Practical Resources Also see Related Info in the Free Management Library. Acknowledgment Particular Thanks! goes to Twin Cities-based consultants, Doug Wallace and Jon Pekel, of the Fulcrum Group (651-714-9033; e-mail at jonpekel@comcast.net), for contributing key information to this document. I have referenced their copyright where I included their key materials in this guidebook. Document Fills a Void of Practical Business Ethics Information for Leaders and Managers Current Literature is Focused on Needs of Philosophers, Academics and Social Critics -- Leaders and Managers Require More Practical Information About Managing Ethics Managing ethics in the workplace holds tremendous benefit forShow MoreRelatedHR Experiential Problem Solving899 Words   |  4 Pagesan organization (Mathis Jackson, 2011, p. 16). What are key concepts related to business ethics that should be considered in the development of the ethics training program? Describe the elements you will incorporate into your ethical training program (at least five). There are several concepts which should be taken into consideration when an organization is creating an ethics training program. An ethics program will associate the behavior of employees with the primary ethical standards desiredRead MoreEssay about Mgt 498 - Ethics910 Words   |  4 PagesEthics Student Name MGT/498 Due Date Instructor Ethics A business must operate with ethics as a guiding principle to be successful and profitable. A company that is publically traded bears a responsibility of being a good steward of the profits the company earns, for the stakeholders, employees, and clients. The social aspect of a company and ethics go hand-in-hand. If a business fails to act ethically responsible, the result of that behavior can affect it socially. â€Å"The concept of socialRead MoreAffect of Cultural Values And Personal Ethics in Business Decisions1221 Words   |  5 Pagesolder and are in their own right and wrong situations. Values vary from person to person but people have to live and learn to discover what values that he or she hold very dear and close to them. Your values are also intertwined with morals and ethics. Personal values are the standards that people have to live and learn in order to set what is right and what is wrong that they will not accept in their lives. The American culture takes pride in being able to have the freedom of personal valuesRead More Ethics Can Make the Difference Essay2336 Words   |  10 PagesEthics Can Make the Difference Ethics are â€Å"rules or standards that govern the conduct of members of a group† (Roland). In every work environment there are a predetermined set of ethical standards the company has put forth for its employees to abide by. But in the technologically fast paced world of today, the lines of what is ethical and unethical blurs easily. While some will argue that any information that is accessible should be able to be read by anyone looking for it, othersRead MoreBeing a Good Leader1744 Words   |  7 Pagesresponsibilities any more employees are expected to take initiative and motivate those around them to also be leaders even if you are not a manager by title. In order to be a leader, one must start by making a commitment and learn those skills needed to model the way and be examples to others. As our organizations become more diverse, being able to manage ethics and diversity is also important as we will encounter and work with others who have different perce ptions, thoughts and experiences than whatRead MorePerformance Management And Selection Management1460 Words   |  6 PagesPerformance management and selection 2. Strategic Reward Management. Performance Management Performance management is a process where the full complement of owners, managers and employees work in unison to achieve the best result for the organization. One annual performance review does not constitute performance management. Continuous improvement is the desired goal and this can be achieved by setting specified organizational objectives, allocating these to specified employees and then by management continuallyRead More The Transition Of Public Management in America Essay3137 Words   |  13 PagesThe Transition Of Public Management: 2000s A puzzling question is what can be expected from public management and public managers in the new millennium? What are the important issues such as regulatory reform, public sector budgeting, human resources management, strategic policymaking, ethics, and corruption, now and in the future? Will the alternative to government delivery of service be privatization? The concepts of Rational Administration, Accountability, Planning, Control, BudgetingRead MoreEssay Business Omm 6402896 Words   |  12 PagesGonzalez OMM640: Business Ethics and Social Responsibility Dr. Ronald Beach July 28, 2013 A code of ethics is important because it provides individuals within a group, organization, club or society with a set of rules, standards and guidelines to operate within. When employees dont have a code of ethics, they could engage in less-than-socially acceptable behavior. This can establish a bad reputation for an organization. When people dont obey the code of ethics it can tarnish theirRead MoreCareer Development Plan Summary2267 Words   |  10 Pagesand personalized customer service. With visions of growing the business, Kathy is stretched to the extreme and needs assistance with the leadership roles necessary to successfully operate and mature the business. Even though Kathy has managers and assistant managers in each store, she needs a team that can not only relieve her of some of her duties, but also assist Kathy in creating a roadmap for the envisioned future state of Kudler Fine Foods. Business Development and Excellence The proposed reorganizationRead MoreEssay on Ethics2727 Words   |  11 PagesEthics by definition is a set of rules or standards that govern the conduct of a person or members of a group. Ethics involves learning what is right or wrong, and doing the right thing. The controversy: doing the right thing based on a moral principle or doing the right thing based on the situation. Doing the right thing does not always mean the same thing to different people, ultimately; it is up to the individual. Business ethics is knowing what is right or wrong in the workplace and doing what

Walt Whitman- Humans and Nature Free Essays

Walt Whitman relates humans to nature in many of his poems. He often refers to us being part of the circle of life. Whitman believes in the idea that humans never really die. We will write a custom essay sample on Walt Whitman- Humans and Nature or any similar topic only for you Order Now â€Å"I celebrate myself, and sing myself,† is one poem that he relates himself and humankind to nature. In this poem, Whitman offers the idea that we are made from nature. One line reads, â€Å"My tongue, every atom of my blood, form’d from this soil, this air†¦Ã¢â‚¬  Whitman also believes that humans live on after death. In â€Å"A child said What is the grass? † Whitman asks what has become of people who have died. He answers this by writing, â€Å"They are alive and well somewhere, The smallest sprout shows there is really no death. † This is an example of his belief that life goes on, even after death. Whitman talks more on this life after death in â€Å"The spotted hawk swoops by. † He says that when we die, we turn to the dirt, and he says if he is missed, to look under our shoes. To finish his poem he says, â€Å"Failing to fetch me at first keep encouraged, Missing me one place search another, I stop somewhere waiting for you. † In â€Å"A Noiseless Patient Spider,† Whitman compares humans to a spider in nature. He says as spiders throw out their web, so do we also try to throw out our â€Å"web† to make connections with the universe. For example, we are now trying to decide on a college and career that will bridge to the next part of our life. He says that humankind is, â€Å"Ceaselessly musing, venturing, throwing, seeking the spheres to connect them†¦Ã¢â‚¬  Walt Whitman was a great American poet who felt in sync with nature. In most of his poems, he tried to encompass the connection between nature and human beings. With use of vivid adjectives and verbs, he has made himself a great poet in American history. How to cite Walt Whitman- Humans and Nature, Papers

Ethical Issues Diploma of Business

Question: Discuss about theEthical Issues for Diploma of Business. Answer: Introduction: This case study is based on my placement as a social worker in an agency. The case evolves a round a 3rd grade student of black aboriginal background who was referred to me for having behavioral problems that included fighting with his peers, paying less attention in class and disrespecting his teachers. Since the time he was at the age of 4, the student hand witnessed incidences of domestic violence in his family. The main concern here was that the student revealed a lot of confidential information with regard to his mothers boyfriend behavior of abusing his mother. The student reported to me cases of violence that he witnessed against his mother and how it made him feel after my assessment, I felt that it was good if I shared this information with authorities in school. The school later informed the students mom about it. I felt this was an ethical issue since the student mom was wary as to the kind of information his son would reveal to professionals (Association, 2001). Ethical Delima at Workplace Experienced In my case study I focused on the gathering and use of information as the main area of focus. This is because establishing services and confidentiality of users is very vital when it comes to providing the need or service from an employee (Bednarz Pawlak, 2011). However, even though the issue of confidentiality is mostly negotiated between the client and the service provider at an agreement meeting, I realized that there is usually a lot of ethical dilemmas when this is discussed. One of the areas is deciding whom one can share information with and the amount of information that needs to be shared. According to Budd Scoville (2005), when it comes to working with children services it becomes difficult for the provider to exercise proper confidentiality. This is because it can make the subject reveal issues with assurance of protection from breach of confidentiality. This calls for a professional to have to share this information with others in order to have an action taken regarding this. This discusses the fact that when it comes to child protection issue, promoting and safeguarding the welfare of the child is paramount at all times more than the issue of confidentiality. However when one looks at the code of ethics as it was the case in my previous placement agency policy on the issue of confidentiality, also advised me about my practice (Association, 2001). The act actually calls for agencies to have access to peoples information. It also dictates that this information should be kept safe and that a worker should only use such information for the purpose of serving the client or in the interest of the client. In this regard, it also means that if a clients information was to fall in to the wrong hands it could be used to harm the client or disregard is right to privacy and that of his family (Coninck, Chaturvedi, Haagsma, Griffioen, Glas, 2008). Personal data is also know to enforce some discriminatory and other offensive practices when the worker uses it to categ orize people when it comes to service delivery. Ethical Questions Raised With regard to my case study, the issue regarding confidentiality became a very big ethical Delima (Fisher, 2011). I began to question if it was wise for the school to have informed the students Mom what he shared. I also asked myself if I had broken the students trust and confidence when I informed the school about the issue. Was I also right to question the school authorities on why they decided to share the students information which his mom, after the referral was made by the school itself. These are the ethical questions that I asked myself before discussing with my professional mentor. I became aware regarding these ethical questions including conflicts of interest and how this would implicate my actions and my professional life. There was also another challenge that I would deal with if I did not share the information; which also meant that I was going to be responsible for my actions if there would be anything wrong (Fowler, 2010). I also felt that this might in a way become an issue leading to potential discrimination, for example the fact that the school also overlooked the effect their action had on the student. For example how this would affect the students relationship with his mother; this is because it so happened then the student would not be easy to deal with professionals in future (Bednarz Pawlak, 2011). Critical Analysis of Lessons Learnt After the evaluation of my actions, I became aware that my assumption about the case, could have been coming from my own base, beliefs, cultural and social background and also the agency code of conduct. According to Budd Scoville (2005), he looks at a contextual awareness as being achieved when elderly learning come to understand that their expectations are usually socially and personally created in a particular cultural and historical context (Bednarz Pawlak, 2011). This means that I ought to have been self-aware of the influences of my cultural, social and personal traits which could have influenced the hardly of the case study. I was also able to understand and unearth more about the power imbalance which exists between the client and the worker. For example, to could be possible that the school authorities informed the students mom because they had more power to do so in order to improve the students problem. It was also a way to investigate whether the issue was generated at school or at home (Dolgoff, 2012). The other important lesson that I learnt during the case study was that in sharing, I focused more on theory dictating that every child matters (Howard Korver, 2008) or what Fowler (2010) regarded as being a technical rationality, that a good theory could provide solution for professionals like me. This was wrong, as I should have used my background of theories and past experience to help inform about my practice. If this was done, there could be a more balancing effect for the student (Coninck, Chaturvedi, Haagsma, Griffioen, Glas, 2008). Due to this, I am very sure that my future placements will be drawn from my formal knowledge and application of theory. List of Recommendations The following were my recommendation: It is important for professionals to differentiate their belief system, values, gender, culture, and assumption, social, race, political orientation with professional approach to a client. It is possible to solve an issue from the clients point of view more than professional point of view. This means that the professional should always allow the client to walk him through. I professional should gather information from all sources instead of the client alone before making recommendations. It is important to reflect on the use of self-awareness and other power imbalances including developing new perspective and meaning. References Association, A. N. (2001). Code Of Ethics For Nurses With Interpretive Statements (American Nurses Association). Amer Nurses Assn; Bklt edition. Bednarz, T. F., Pawlak, M. (2011). Ethics Integrity: Pinpoint Management Skill Development Training Series. Majorium Business Press. Budd, J. W., Scoville, J. G. (2005). The Ethics of Human Resources and Industrial Relations . ILR Press; 1 edition. Coninck, J. D., Chaturvedi, K., Haagsma, B., Griffioen, H., Glas, M. v. (2008). Planning, Monitoring and Evaluation in Development Organisations: Sharing Training and Facilitation Experiences. SAGE Publications Pvt. Ltd. Dolgoff, R. (2012). An Introduction to Supervisory Practice in Human Services . Pearson/Allyn and Bacon. Fisher, C. B. (2011). Decoding the Ethics Code: A Practical Guide for Psychologists. SAGE Publications, Inc; Third Edition edition . Fowler, M. D. (2010). Guide to Code of Ethics for Nurses: Interpretation and Application. Nursebooks.org; 2010 reissue edition. Howard, R. A., Korver, C. D. (2008). Ethics for the Real World: Creating a Personal Code to Guide Decisions in Work and Life. Harvard Business Review Press; 1 edition.

John Marshall free essay sample

Marshals thirst for political knowledge at an early age, his contribution the judicial system, and dedication to political reform make him one of the most influential figures in American history. Early Life John Marshall, one of fifteen children, was born on September 24, 1755 in a log cabin in rural Germantown, Virginia. His parents were Thomas and Mary Marshall, who had significant status among the citizens of Germantown. Although Marshals parents were not formally educated, they ensured their children had a good, quality education. Marshall was homesteaded and often supplemented his reading from books in George Washingtons library.Marshals father and George Washington worked together as surveyors and became close friends. Washington would later become one of Marshals greatest heroes. Desiring their son to become a leaver, Thomas and Mary sent Marshall to William and Mary College where he spent several weeks listening to George Withys lectures on law, which was Marshals only means of formal education. We will write a custom essay sample on John Marshall or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page At the age of 25, Marshall left William and Mary College and pursued a lawyers position in Germantown, where he later met and married his wife of 49 years, Mary Willis Ambler. Together, they had ten children, with only six living to see adulthood (McGill, 2005). Chief Justice Chief Justice John Marshall served in the Supreme Court from 1801-1835. He was the fourth Chief Justice appointed by President John Adams (Smith, 1996). Marshall was known as one of the greatest chief justices in judicial history. While head of court, Marshall helped establish foundations for the Supreme Court and the constitutional supremacy. Alexander M. Bicker, a sophisticated, constitutional scholar stated that John Marshall was one Of the greatest justices due to his decision in the Mammary v. Madison case. Although Marshall is known for many other cases throughout judicial history, including McCullough v.Maryland, Cones v. Virginia, and Gibbons v. Edge, the high profile case, Mammary v. Madison, became one of Marshals most significant cases and one that established him as one of the greatest supreme court justices who ever lived (Wood, 1997). Mammary V. Madison In Mammary V. Madison, Marshall worked the Judiciary claim to apply the law of the constitution exactly the way that courts interpret common law and statues in their role of legal disputes. Marshall was Instrumental in laying own the foundation for the rise of the Judiciary. Their goal was to make the Judiciary as one of the top three capital powers of the government.Marshall stated that the constitution was a rule for the government of courts, as well as of his legislature. As he made the issue known, judges could not ignore it. They were duty bound to enforce it by disallowing laws offensive to the constitution. At the time, many Americans had no trouble thinking of constitutions as law but not the kind of law that would be operated in the court system, button Marshall stated towards the court system, by applying is methods of statutory interpretation to the constitution, he legalized it. He made it amenable to routine exposition and makes it happen.Marshall knew the Judiciary system would always be one of the weakest branches; its effectiveness depended on gaining the agreements of the legislative, executive branches, and of the people. The power that the Supreme Court would enjoy is the ability to persuade the people. Marshall was perfect for the job, and he greatly enhanced that power by his ability of persuasions. The Americans didnt know anything about the constitution, but Marshall enhanced the knowledge pertaining to the constitution (Hobnobs, 2002). It is no doubt that John Marshall has made tremendous contributions to the judicial system.His thirst for knowledge at a young age and his political leadership has provided significant contributions to political society. It has been over two-hundred years since Marshals appointment; however, the Supreme Court still continues to honor him and his works. Marshall left a legacy that will be admired and written about by political generations to come. Through his works, Marshall helped define our country to what it is today as supported by political author, Jean Edward Smith who stated, if George Washington found the country, John Marshall defined it (Smith, 1996).

buy custom Education in UAE essay

buy custom Education in UAE essay Education in United Arab Emirates can be associated with the development of the federation which saw the introduction of several universities in Abu Dhabi, the United Arab Emirates and Al Ain. The establishment of the federation resulted in the government taking in measures that included devoting some of the national resources to education (Gaad, 2010). On the other hand, the rate of illiteracy in the kingdom remain an all time high, an indication that more need to be done to educate the growing generation to adopt the changing conditions and levels of literacy. Statistics indicate that the rate of illiteracy is 91%. Analysis of Education in the UAE The education system comprises of the Kindergarten which the age levels range from four to five years. The second stage of learning is the primary level where age limit range is between six and twelve years. The third stage of learning is the Preparatory level with age level from twelve to fifteen years. The secondary stage which takes three years in length comprises of between fifteen to eighteen years. Technical Secondary School age range level is between twelve and eighteen years, with a maximum length of six years of learning. .According to the Embassy of United Arab Emirates in Washington DC, education has remained a top priority in UAE (Embassy of UAE, 2010). The government has put in measures to ensure that both male and female receive the necessary education so as to limit the increasing rate of illiteracy. Towards this end, new initiatives have been launched in order to respond to the increasing levels of illiteracy. Some of these programs have reulted in the government tran sforming the K program to 12 programs. For instance, the measure is a reflective orientation that prepares the students in UAE with the required skills to join public universities. It is worth noting that UAE has enlisted the support of foreign universities with an aim of creating effective programs and as a result, attracting several students from the Asian continent who are interested in this mode of education (UAE Interact, 2011). Education in the UAE is divided into basic education, development program as well as higher education which are all characterized with activities towards delivering quality education for the students. The K-12 programs are a relatively new system in the United Arab Emirates. The school building programs that existed in the early 1960s and 1970s were geared towards expanding the educational system in the country. These reforms are focused on ensuring that the students are well prepared as well as being envisioned in improved professionalism, higher standards and greater accountability. The programs are also seen as introducing a new form of education that includes a more interactive form of learning which has seen math and science subjects being integrated with English language. The education reforms in the country rest on the Ministry of Education, the Dubai Education and the Abu Dhabi Education Council. For instance, English language skills of the elementary-level students at four model schools is being developed by Zayed University who were requested to do so by ADEC (Oxford Business Group, 2009). On the other hand, Dubai Education Council perfects the global standards by focuss ing on international accreditatiion as well as comprehensive quality assurance programs. Reform activities in education are also monitored by the Ministry of Education. There are several public and private universities in UAE that offers higher education. Government institutions offer higher education without charges; a factor that makes UAE recorded the highest participation rate in the world. The common and most popular higher learning institutions in the UAE include UAE University, Zayed University and Higher Colleges of Technology (HCT). There are also private institutions like the American Universities of Sharjah and Dubai which is institutions linked to the United States. Others include Sharjah and Al Hosn Universities. Students with special needs are supported by the government through special education. This is reflected in the signing of the optional Protocol to the UN convention on the Rights of Persons with Disabilities and Federal Law (UAE Interact, 2011). Education, training and applied technology is provided by Higher Colleges of Technologies which provide technical education. It is worth mentioning that public education as well remain s free for both male and female citizens through to the university levels. The paper has looked at the situation of education in UAE and how the government is putting in measures to reduce the increasing levels of illiteracy. The measures include ensuring that public education remains free for all, an indication of its commitment towards making the nation an educated state. UAE also has various learning institutions that are private and which join the government institutions in offering learning innovations. Buy custom Education in UAE essay

Accounting Theory and Critical Issues

The following assignment examines the annual report of Common wealth Bank Australia in the context of adhering to the General purpose Financial Accounting. Commonwealth Bank Australia has been chosen as an ASX top hundred-listed corporation. The assignment evaluates the effectiveness of business entities in strictly adhering to the framework as well as the guidelines of the conceptual framework of accounting. In this regard, it can be said that there has been issues as per the assessment as well as the registering of financial transactions in the year ended annual report of the company. As such, this has an adverse effect on the procedure of the financial reports towards the stakeholders of the organization. Zimmerman (2013) stated that the general-purpose financial recording should develop the necessary guideline, to help the business entities to maintain authenticity and transparency in the financial accounts of the business entity. The business entity has been operating in many co untries and constitutes of a substantial market share in the international market. According to Groot and Selto (2013), the general purpose financial accounting offers a unified guideline that can be applicable to all the globally reputed companies in the Australian market. The Commonwealth Bank Australia has been making efforts to adhere to the General Purpose financial accounting in the market. According to Hassard and Pym (2012), the brand has faced issues recently in recording as well as measuring the transactions in the domestic and the international market. The Commonwealth Bank Australia is a multinational business organization that operates in many countries. The brand has taken many transfer pricing measures as per the taxation laws and guideline of the particular country. The conceptual framework in the business organization shall consist of the qualitative characteristics as well as recognition and the de-recognition criteria of the general-purpose financial accounting of the organization. The study also evaluates the accounting measures like IAS 11 and and its role in assisting the business entity in adhering to the conceptual framework in the context of the General Purpose financial Accounting. Despite of the best efforts of the management of the business enterprise in adhering to the General Purpose financial Accounting of the organization, there has been existing consistencies and issues related to the recording and the assessment of the financial transactions. Fiolleau et al. (2013) stated that these financial irregularities can be overcome by implementing rigid auditing measures in the business organization that shall facilitate organizational growth in the business entity. The following attributes of the financial data provided by Commonwealth Bank Australia in the context of the General Purpose Financial Accounting can be noted. Relevance- The annual report of Commonwealth Bank Australia offers the relevant importance to the business enterprise. The report contains all the necessary details so as to assist the management of the business entity in developing the appropriate financial as well as the operating policies for a business entity. Jones (2015) stated that the accounting principles of the business enterprise shall have to offer the in-depth financial details about the necessary financial details about the business enterprise. As such , the annual report and the year ended financial statements of the business enterprise shall be considered as relevant in the existing global market. Material - The information can be considered as material if omitting it can lead to adverse financial decisions for the business enterprise. The company follows the principle of materiality to influence financial decisions for the business entity. As such, it can be said that the management of the business enterprise has considered every financial data that can have an impact on the financial decision making as well as sustainability of the business entity. in this regard , it can be stated that the management of the business enterprise has to take appropriate financial decisions regarding the preparation of the financial statements of the business entity . In this regard , it can be stated that the uniform quantitative guidelines for the establishment of the financial policies for the enhancement of the financial policies as well as the goals and the objectives of the business entity . Comparability - The financial statements established by the business enterprise can facilitate comparison between the two different years. As such, the brand has the ability to determine the operational as well as the financial policies of the business enterprise shall facilitate comparison between the two different years. As such, the management of the business entity can be able to take the necessary financial measures to overcome the organizational threats of the business entity. Bonin (2013) mentioned that comparability is one qualitative attributes that shall assist the users to assess the general financial state of a business enterprise. Thus. it can be stated that there are users shall be able to compare the general financial position of the business entity with the previous years and respond appropriately for organizational growth and sustainability in the domestic and the international market. Verifiability- The concept of verifiability would assist users in representing the economic condition of the existing business entity. Lee and Parker (2013) mentioned that the attribute of verifiability shall enable the users to verify the financial information of the business entity. In this regard , it can be stated that the financial data provided on the annual report has been verified in the context of the current year. Timeliness- The concept of Timeliness relates to having prior information to the decisions-makers of the business entity that shall help the business entity in making appropriate business as well as financial decisions. An in-depth analysis of the financial statements is presented in the business entity. Therefore, this shall assist the business enterprise in making authentic financial statements of Commonwealth Bank, Australia. As such, the timeliness of the financial statements is an essential attribute of towards establishing of the financial strategies as well as the policies of the business entity. Understandability- The concept of understandability refer to presenting the information in a simplistic manner to help users in making informed financial decisions for the business entity. According to Fiolleau et al. (2013), the management of the Commonwealth Bank , Australia has presented the accounting statements in a simplified manner so that it can be easily understood by the users. The concept of understandability is evaluated in the annual report of   Commonwealth   Bank, Australia . As such, the data presented in the annual financial statements of the business entity is simple to understand yet in-depth in details . As such, the understandability is a definite characteristic of the management of the business entity. These attributes has been essential for the business enterprise in the implementation of effective financial policies. For the purpose of measurement in accounting, the fair value of accounting is used to assess the assets and the liabilities of the organization as per the organizational goals and the objectives. In this regard, it can be stated that the fair value of measurement in accounting can be used in determining the actual worth of the assets and the liabilities in the business organization. Commonwealth Bank, Australia has been able to assess the existing liabilities as well as the assets of the organization as per the existing market condition in the domestic as well as the International market. According to Deegan (2013), the fair value accounting in the business entity has been an influencing factors   in determining the exact financial position of a business entity. The fair value accounting of the business entity   asists the business   organization to make effective   financial strategies   of   the business   entity. Therefore, the value of the assets would be ascertaine d as per their current market value.   The recognition criteria refer to the factors on which the identification of assets and the liabilities depends, in the context of Commonwealth Bank, Australia. The Commonwealth Bank , Australia has been recognized the asset as well as the liability of the business entity in, changes in equity as well as the expenses of the business enterprise facilitating authenticity and transparency in the annual financial statements of the business enterprise. Therefore, it shall assist the business enterprise in enhancing the cost of the organization as well as enhancing the changes in the business organization. In the recognition criteria, the probability in the inflow or the outflow of cash in the business organization for a particular period of time shall have to be analyzed in the attainment of the organizational goals and the objectives of the business enterprise. Miller and Power (2013) stated that the following two existing standards - IAS 1 Presentation of the Financial Statements and IAS 8 Accounting Policies, Changes in Accounting estimates and errors have assisted Common Wealth Bank Australia in adhering to the conceptual framework of the general-purpose financial accounting. These policies in the business entity shall help the business entity to strictly adhere to the general-purpose financial accounting and prepare detailed financial reports for the business enterprise. According to Freeman et al. (2014) the IAS 1 develops the basis of the financial statements in the year –ended annual reports of the entity . These accounting statements provide the faithful representation of the transactions as well as events and conditions of the business entity. The existing inconsistencies in the existing conceptual framework shall have to be eliminated by the IAS 18 accounting standards. According to Deegan (2012), the framework states that the asset and the liabilities of the organization shall have to be recognized through the expected future benefits of the organization. In the recent years, the brand has faced discrepancies in the recording as well as the assessment of the financial transactions of the business entity. In addition, the brand has developed the necessary measures to overcome the existing discrepancies and facilitate the development of the financial policies of the business entity. The Common Wealth Bank, Australia has implemented effective internal accounting policies of the business organization. Auditing has been a pertinent accounting tool for the business entity in frequent monitoring of the financial statements in the business entity. This has ensured that the financial statements in the annual reports of the busine ss organization shall reflect the existing financial position of the business organization. Bonin (2013) stated that internal auditing is an effective part of the general-purpose financial accounting of the business organization. Therefore, the existing inconsistencies in the annual reports of the organization would have to be assessed through the internal control measures in the organization. As per the conceptual framework in the General Purpose Financial Accounting the assets and the liabilities of the organization would be recognized if the future economic benefits comes or flow out of the organization. In this regard, it can be stated that the IASB emphasis uniforms academic guidelines and the policies of the business entity. As such, the management of the business entity has been responding appropriately in overcoming any discrepancies or threats for the business entity. As such, this has assisted the business entity to strictly adhere to the conceptual framework of the business entity. Horngren et al. (2013) mentioned that financial reporting refers to development of the external financial statements consisting of balance sheet, statement of cash flows and the stockholders equity and the notes to the financial statements present in the annual report of the organization. Thus, it can be said that the stakeholders of the business organization has to receive updated financial information about the business entity. As such, this shall assist the investors to acquire the necessary financial data and make informed investment and financial decisions for the business entity. The financial reporting is an essential aspect of the operational as well as the financial decisions of the business. As such, the business entity has been making pertinent efforts in adhering to the conceptual framework of the General Purpose Financial Accounting. According to Bebbington et al. (2014), the business entity has to make the necessary measures in the development of the goals and the objec tives of the business entity. Henderson et al. (2015) stated that the business entity has taken measures in the recognition of the intangible assets of the organization. In this regard, it can be stated that the management of the business organization has also recognized bad debt as well as the provision of bad debt in the organization. In addition, the recognition of revenue expenses in the business entity is another pertinent part of the General Purpose Financial Accounting in the business organization. The financial reporting deals in the disclosure of the financial data to the management as well as the public. According to Christensen et al. (2016), the financial reporting can have to be issued in the quarterly as well as the monthly basis. As such, the Commonwealth Bank Australia has been reporting to the existing shareholders of the business organization through the strict financial reporting guidelines. Horngren et al. (2013) stated that the security and the exchange commission (SEC) in the business enterprise is an essential part of the financial reporting policies of the business entity. As per the guidelines of the general Purpose financial accounting, the shareholders, potential investors and the consumers and the government of the business organization are the parties that shall benefit from financial re porting .Thus, Commonwealth Bank, Australia adheres to the General Purpose financial accounting in developing the organizational policies and strategies. It can be said that Commonwealth Bank Australia has taken pertinent efforts in adhering to the conceptual Framework in the General Purpose Financial Accounting. The brand has taken measures in the establishment of operational and financial strategies for Commonwealth Bank Australia. However, the internal auditing is an effective tool for the business entity in assessing the financial situation of the business enterprise and recognizing the existing discrepancies in the financial system of business enterprise. The Commonwealth Bank, Australia has been adhering to the general-purpose financial accounting and measure the equity, asset, liability and income as well as the revenues of the organization. The brand strictly adheres to the conceptual framework in the context of the reporting of the financial statements to the business entity. The Commonwealth Bank, Australia conducts financial reporting in quarterly or on a annual basis The recognition criteria refer to the recognition of the assets and liability of the organization that result in the inflow and outflow of the revenue in the organization. The fair value of accounting in the business entity relates to the assessment of the assets as per their existing market value. The Commonwealth Bank, Australia has been in a strong financial position in the recent years. The data extracted from the financial annual reports relates to the measurement of the assets, liabilities as well as the income and the recognition of the incomes and the revenue of the organization and indicates the financial strength of the entity when compared to the substitute brands in the market. In the coming years it can be expected that the business entity shall acquire a greater market share in the domestic and global market. Bebbington, J., Unerman, J. and O'Dwyer, B., 2014. Sustainability accounting and accountability. Routledge. Bonin, H., 2013. Generational accounting: theory and application. Springer Science & Business Media. Bonin, H., 2013. Generational accounting: theory and application. Springer Science & Business Media. Christensen, H.B., Nikolaev, V.V. and Wittenbergà ¢Ã¢â€š ¬Ã‚ Moerman, R., 2016. Accounting information in financial contracting: The incomplete contract theory perspective. Journal of Accounting Research, 54(2), pp.397-435. Commbank 2016 Available at: https://www.commbank.com.au/content/dam/commbank/about-us/shareholders/pdfs/annual-reports/cba-annual-report-30%20June-2015.pdf [Accessed 3 Sep. 2016]. Cortesi, A., Tettamanzi, P., Scaccabarozzi, U., Spertini, I. and Castoldi, S., 2015. Advanced Financial Accounting: Financial Statement Analysis–Accounting Issues–Group Accounts. EGEA spa. Deegan, C. (2013). Financial accounting theory. McGraw-Hill Education Australia. Deegan, C., 2012. Australian financial accounting. McGraw-Hill Education Australia. DRURY, C.M., 2013. Management and cost accounting. Springer. Eilifsen, A., Messier, W.F., Glover, S.M. and Prawitt, D.F., 2013. Auditing and assurance services. McGraw-Hill. Fiolleau, K.J., Hoang, K.J. and Pomeroy, B., 2013. Communications with Audit Committees: How Do Auditors Decide How Much Information to Provide about Management’s Accounting Practices?. Freeman, R.J., Shoulders, C.D., Allison, G.S., Smith Jr, G.R. and Becker, C.J., 2014. Governmental and nonprofit accounting: theory and practice.JJpaejournal Of Public Affairs Education Volume 20 Number 3, p.441. Groot, T. and Selto, F., 2013. Advanced management accounting. Pearson Higher Ed. Harrison, J.S. and Van der Laan Smith, J., 2015. Responsible accounting for stakeholders. Journal of Management Studies, 52(7), pp.935-960. Hassard, J. and Pym, D. eds., 2012. The theory and philosophy of organizations: critical issues and new perspectives. Routledge. Henderson, S., Peirson, G., Herbohn, K. and Howieson, B., 2015. Issues in financial accounting. Pearson Higher Education AU. Horngren, C.T., Sundem, G.L., Schatzberg, J.O. and Burgstahler, D., 2013.Introduction to management accounting. Pearson Higher Ed. Jones, S. ed., 2015. The routledge companion to financial accounting theory. Routledge. Lee, T.A. and Parker, R.H., 2013. Towards a Theory and Practice of Cash Flow Accounting (RLE Accounting) (Vol. 50). Routledge. Miller, P. and Power, M., 2013. Accounting, organizing, and economizing: Connecting accounting research and organization theory. The Academy of Management Annals, 7(1), pp.557-605. Zimmerman, J.L., 2013. Myth: External financial reporting quality has a first-order effect on firm value. Accounting Horizons, 27(4), pp.887-894.

The application of balanced scorecard in the performance evaluation of Essay

The application of balanced scorecard in the performance evaluation of higher education - Essay Example In the case of non-proï ¬ t organizations, the BSC lays huge emphasis on customer satisfaction and therefore a priority is given in all matters regarding to customer services. in organizations where a financial crisis is a daily affair, their BSC prioritized financial perspective. Focusing on different prioritization perspective of BSC, organizations have an opportunity to allocate resources appropriately with minimal wastage or fraud. The study case has also provided a platform for non-profit organizations to measure how they perform. In this, performance measure indicators (PMIs)are applied as indicators of efficiency. Again, different definition of PMIs can be adopted to fit the objectives of the business. In case of institutions of higher learning, â€Å"student/staff ratio† and â€Å"Ph.D ratio† PMIs are appropriate. For manufacturing concern, â€Å"customer satisfaction† is applicable while â€Å"service delivery† PMIs works with non-proï ¬ t org anization. Though implementation of the BSC has not been effected in Taiwan and other developing countries, America and Europe are already reaping its benefits. BSC is yet to gain momentum and relevant in third world countries. However, this study has clearly demonstrated that BSC can be instrumental in delivering positive changes in strategic and performance management in higher learning institutions. Furthermore, the study has recommended that senior management and supervisors must fully support the implementation of system managing tools, otherwise they are destined to failure. In conclusion, institutions should me motivated by their vision and mission so that they are run like any other business where efficiency is highly