Business and Accounting Ethics Essay Example | Topics and Well Written Essays - 500 words

Business and Accounting Ethics - Essay Example The main purpose of business ethics is to maintain a code of conduct which reinforces consumer confidence in the business. The American Institute of Certified Public Accountants (AICPA) has put down ethical guidelines for accounting. The AICPA's first principle of professional conduct states: "In carrying out their responsibilities as professionals, members should exercise sensitive professional and moral judgments in all their activities." The Golden Rule is this that one should live their life with integrity and bearing a sound moral character. Success cannot be measured by the acquisition of money only. A 1987 survey of corporate executives administered by Touche Ross revealed that two thirds believed that high ethical standards improve a firm's competitive position but felt that "increased concentration on short-term earnings" and "decay in cultural and social institutions" are major threats to business ethics. [1] Ethics must be the cornerstone of every business. This applies to my real estate and loan brokerage businesses aptly. The article stresses on transparency and pursuing good moral values in order to earn long term benefits. Ethics is also essential in building trust and confidence in the public for your business. Real Estate businesses have to do with direct interaction with the customers. Ethics is especially relevant here.