Apolonio, Florence Maer B.
BSA-2
Provide what is being asked.
1. Discuss your personal perspective about "Ethics on making several
Financial Statements at a time".
Financial statement is done by an accountant they basically prepare a set of accounts
and information that is used by the internal and external users of the organizations. So,
if those accounts and information cannot be trusted, if the information doesn’t have
integrity and doesn’t show a true and faithful representation, the information may
become useless and ineffective. And if the information is useless, inaccurate, and
doesn’t have integrity then the financial statements become unreliable, also the
accountants will become affected as well as the accountant profession. So, accountant
in general they need to be competent in what they do in order for the public to have trust
in them they need to be reliable for the same reason. Similarly, they need to be
objective and show integrity because at the end of the day the reputation of the
accountant is what the profession is built upon, if people are going to appreciate to
understand financial statements, they need to be able to believe in the accountants.
2. Among the types of business ethics discussed, which one do you think is
the most important? Why?
For me the most important type of business ethics is the respect, because in business
we are encountering different people in our workplace such as workmates, employer
and customers etc., Respect demonstrates the way how you value the opinion of
others, treating people with appreciation, with dignity and treating each and every one
as equal. Businesses that treat all people with respect, regardless of their religion, sex,
color, nationality, or any other identifier, are usually recognized in the public. Companies
are held to the ethical requirement of keeping information such as bank account data,
health history, or social security numbers secret, thus respect also extends to client or
customer privacy. Maintaining this degree of confidentiality demonstrates respect and
ensures compliance with a variety of industry-specific standards, such as the Health
Insurance Portability and Accountability Act.