Ethics Article Analysis - Research Paper Example

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They not only help to run business smoothly but also help to ensure that the business is running proper corporate financial reports. And these corporate financial reports then help to analyze the company’s position in…
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Ethics Article Analysis
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Ethics Ethics are an important part of the business world today. They not only help to run business smoothly but also help to ensure that the business is running proper corporate financial reports. And these corporate financial reports then help to analyze the company’s position in the market. The article gives an overview of these ethics and their importance in making financial decisions regarding the business.
To ensure that the company is abiding by the laws of corporate governance the code of ethics have been introduced by the Financial Executives International (FEI). These code of ethics help to ensure that the individuals who control the company’s infrastructure are recognizing their duties when it comes to financial decision making. Moreover these ethics greatly help in helping these individuals to take proper financial decisions in the business. Within a company a code of ethics is developed to which every individual of the company has to abide. However in some situations the code of ethics is not followed by the newer employees and they tend to break the codes. This in turn violates the code of ethics and the financial decisions become distorted. An example can be cited here about the senior financial officers who are already working in the company. These financial officers know that the information of the company should be kept confidential whereas if a new financial officer comes and he is unaware of the fact he might the leak the information out. And because of this leakage the financial decisions now taken would be not that effective. Similarly the code of ethics also mandates it on the employees that they do not use the resources of the company inefficiently. However the company cannot measure all the minute activities of these employees and in order to abide by the code of ethics a company would be forced to involve more finances towards the check and balance of employees. While making financial decisions in compliance with the ethics it is necessary to see that the individuals who are involved do not have any personal or professional relationship with the issue. This can affect the financial decision making as the individuals who would have personal gains would tend to distort important information about the company.
Financial Executives International is a company which abides by the code of ethics. `The company involves these ethics in all the financial processes that it implements. The company strictly follows these code of ethics and makes sure that all the positive cash flow is achieved after following these codes. Its objectives include that the individuals who are involved in the management do not have any personal interests with the decisions. Moreover the information given by the company should also be accurate so as to the outsiders are not misguided. All these work towards the financial management objectives of the company.
The financial reporting decisions are greatly influenced by the objectives of Financial Executives International. The company has a code of ethics which makes it mandatory for the company to be honest in reporting all kinds of finances. These objectives also make the individuals on the key positions liable for every kind of financial responsibilities. Lastly these individuals also have to abide by the rules of the local bodies to which they are answerable with regard to any law. Read More
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