ACC3145: Evaluation of Workplace Ethics at Glam Solutions

This report analyzes ethical considerations within the finance department of Glam Solutions, a medium-sized company. It examines several ethical cases, including contract renewal issues, biased hiring practices, and manipulation of financial reporting. The report identifies key ethical principles, such as professional behavior, objectivity, and integrity, as outlined in the CIMA Code of Ethics for Professional Accountants. It discusses potential threats arising from these cases and proposes recommended courses of action to mitigate risks and promote ethical conduct. The report emphasizes the importance of adhering to ethical guidelines for organizational growth, maintaining a positive brand image, and fostering investor confidence. It provides specific recommendations for contract management, hiring practices, and accurate financial reporting to ensure ethical and sustainable business practices. The report concludes with a call for ethical behavior in the workplace and adherence to ethical principles.

Short Report

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Summary.................................................................................................................................1
How many ethical cases exists in scenario.............................................................................1
Explain main ethical principles for each case using the code of ethics for professional
accountants.............................................................................................................................2
Discuss possible threats and recommended course of action for every use...........................2
CONCLUSION................................................................................................................................3
REFERENCES................................................................................................................................4

INTRODUCTION
Business ethics defines a study of suitable organisation policies and exercises regarding
potentially controversial topics considering insider trading, corporate social responsibility,
bribery, corporate governance and fiduciary responsibilities. It assure that a various basic levels
exists between different forms of market participants and customers with organisation (Craft,
2018). Below report based glam solution, it is medium size company and report covered as per
brief which is given for this task. It includes ethical cases, major ethical principles and threats
and recommendations as per ethics cases and principles.
MAIN BODY
Summary
Business ethics play major role in manage organisation and perform activities in right
direction. Ethics provide additional values to business and there are various subjects that covered
in business ethics such as CSR activity, fiduciary responsibilities and etc. below report cover
ethical cases that are founded in brief, ethical principles that are helps in professional
accountants and threats and recommendations of ethical cases.
How many ethical cases exists in scenario
As per discussion in brief there are different ethical cases that are explained below as;
 There is no specified about contracts which must to be renewals with proper procurement
to assure position on same page on key contract clauses and budgets. Before meeting
with employees and supervisors, the head of procurement discuss about recent
performance of financial report and its strategies but there is not mentioned proper
guidelines about contract.
 Company need to expand job positions, so they have vacant job for junior financial
analyst but selecting relative or cousin rather than existing skilled employees who were
contributed their efforts more in business.
 Company produce annual financial report because it is a responsibility and duty also. It is
important for performance of finance department which directly affect upon business
growth (Gupta and Sharma, 2018). CEO approach and tell that leave a large outgoing
bills off this year's financial report and include in next year's report. The report goes-out
on 20th march, so needs only moving bills back by some times. CEO informs that there
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will major difference in outlook of finance of organisation and this will influence choice
of investors in favourable manner.
Explain main ethical principles for each case using the code of ethics for professional
accountants
There are various ethical principles that are use for each case for professional accountants which
are explained below as:
Professional behaviour: In this accountants must comply with relevant regulations and
laws, so they can avoid any type of activity that discredits the profession. To understand contract
and follow in right manner this principle helps in avoid any issues related to contract and its
following process.
Objectivity: Accountants should not allow any bias, undue influence of co-worker and
conflicts of interest at workplace related to job (Kelly, 2019). Employee should not bias with
others if existing staff are skilled better then job position should offer to existing only not new
people or nay relative. They should not mix personal and professional relations.
Integrity: Professional accountants follow work process in straightforward method and
be honest in entire business relations or professional. CEO give order to add some bills to next
annual report but this is not fair for investors but company perform this activity for attracting
investors and show attractive financial report in market.
Discuss possible threats and recommended course of action for every use
As per above discussion, there is not mentioned clear rules and laws about contract
company can face challenges and issues related to legal documentation. Biased aspect show bad
image of company in market and employees also not happy with working environment this
directly affect business performance and growth. Maintaining actual financial report based on
right figures of amount is important to prepare attractive annual report so investors attract
towards this company and helps in enhancing brand values or image in market. Organisation use
various principles as per ethical cases so using right principles for reducing or avoiding any
mistakes and it helps in follow rules and regulations as per ethical principles.
According to above report this is recommended in favour of company's growth and their
enhancing annual revenue (Schaltegger and Burritt, 2018). If company deal with other parties or
company they should follow contract guidelines and mention clearly about contract terms and
conditions so there are fair and clear deals between parties or business. They should encourage
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skilled existing employees and if there is any vacant job available at organisation, they should
give option first to existing employees who are skilled and best for job profile they should not
biased with workforce (Vidgen, Hindle and Randolph, 2020). Company can offer another job
profile to relative or cousin to fulfil their needs also. In annual report there are not accurate data
recorded because of CEO order and bills record in next tear's report is this is not showing show
status to others. Employee can present their ideas and thoughts in polite manner and discuss
about other solution. So it will helps in attracting more investors and prepare report on actual
figures.
CONCLUSION
It is concluded the above report, business ethics are essential for organisation growth,
performance and its image in market. As per above brief there are various ethical cases are
founded which are unfavourable for business and it reflects bad image in market. Company must
use valid contracts and follow proper guidelines and legal laws according to contract between
two business. It is essential for company to provide vacant job to skilled employee who already
contribute their efforts in business. Company can provide other vacant job to relatives who really
need job. As per CEO orders the annual report making not accurate because some major bills are
recorded in next year's report which is reflect negative impact upon brand image and investor's
mind.
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REFERENCES
Books and Journals
Craft, J.L., 2018. Common thread: The impact of mission on ethical business culture. A case
study. Journal of Business Ethics, 149(1), pp.127-145.
Gupta, D.K. and Sharma, V., 2018. Analytical study of crowdsourced GLAM digital
repositories. Library Hi Tech News.
Kelly, J., 2019. Towards ethical principles for participatory design practice. CoDesign, 15(4),
pp.329-344.
Schaltegger, S. and Burritt, R., 2018. Business cases and corporate engagement with
sustainability: Differentiating ethical motivations. Journal of Business Ethics, 147(2),
pp.241-259.
Vidgen, R., Hindle, G. and Randolph, I., 2020. Exploring the ethical implications of business
analytics with a business ethics canvas. European Journal of Operational
Research, 281(3), pp.491-501.
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