Financial Statements and Corporate Ethics

3 pages of content (excluding cover page and reference page)

In our world today, any part of the world, using same or different accounting standards, face similar issues with respect to financial reporting. The needs of the Board of Directors, needs of the CEO/President, needs of the CFO, and those of accountants vary and so affects greatly, the presentation of financial statements.

As you read the attached paper, reflect on these with respect to the experience you have gained in preparing the financial statement and feedback received on papers you have written before, discussion board feedback and your experience with financial statements.

– What would be different if this was in the USA.

– What is important to you, looking at financial statements and why?

– Who should be held responsible for various levels of violations with respect to financial statements?

– What should be acceptable ethical standard when it comes to preparation and reporting of financial statements. Can there be a universal code of ethics? Why or why not?