ACCT 525 Week 4 Assignment Solution
ACCT 525 Week 4 Assignment Solution
ACCT 525 Week 4 Assignment Solution
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<strong>ACCT</strong> <strong>525</strong> <strong>Week</strong> 4 <strong>Assignment</strong> <strong>Solution</strong><br />
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Read “It’s Time for Principles-Based Accounting Ethics” which can be accessed through the<br />
DeVry online library. In 3-4 pages (12-pt type, double-spaced) answer the following questions:<br />
1. Do you agree with the authors that a code of ethics should do more than establish minimum<br />
acceptable standards? Why or why not?<br />
2. Describe the five cardinal virtues of professional accountants that the article’s authors discuss.<br />
3. We’ve talked about rules-based versus principles-based accounting standards. Should we have<br />
rules-based ethics standards? Why or why not? Should they tell you exactly what to do in<br />
specific ethical situations?<br />
4. Compare and contrast the AICPA’s Code of Professional Conduct and the IFAC Code of<br />
Ethics for Professional Accountants.
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