July+18

Movie "Wall Street" - examples of greed, ethical standards, abuse of power, corporate social responsibility
 * Ethics in Business**

Discussed other Ethical Accounting scandals that have occured that have affected millions of people and millions of dollars - e.g. Enron, Bre-X, current scandal on manipulation of Libor rates in the U.K.

Article: Trying to restore the confidence in the books - discusses why some problems exist in financial reporting - GAAP rule interpretations - Investor education - not knowing accounting loopholes - discusses ways in which corporations can manipulate their financial data to smooth or boost earnings, increase or decrease losses

Articles - "All's fair in accounting" and "WestJet's flighty income" - how GAAP rule interpretations can produce dramatically different financial statement pictures

Canada's adoption of International Financial Reporting Standards (IFRS) for publicly accountalbe enterprises on January 1, 2011. Why the change to IFRS made discussed. - main differences between IFRS and GAAP provided in the handout - private corporations have the choice to remain GAAP or switch to IFRS

Ethics, Ethical Behaviours, and Ethical Decision Making Process - Research Journal on Ethics: discusses what factors influence the likelihood that an individual will act ethically or less than ethical, and what this means to management, the organization, and internal controls in general. This paper is designed to help educate people on unethical accounting practices, why they occur, and how we as a nation can promote ethical behaviour.

- Ethics and the Decision Making process: Sample Ethics cases discussed

Text Chapter 12 reading to supplement
 * Self-Study Ethics Case Assignment - DUE Monday, July 23rd**