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Ethical Dimensions In Responsible Professionalism And Accounting

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Discuss about the Ethical Dimensions in Responsible Professionalism and Accounting.



The management accounting is used on the provision of information do internal utilisers and people to make decisions. The managerial accounts provided in the ratio of road on this once abilities along with the business it takes on tickle principles. The makers of the management accounts have to provide with complete and object of details regarding the business operations and functions. By use of ethical standards it can be assured that there is no bias even if the information is negative or positive (Hajjawi, 2008). By the use of accounting ethics, the management accounts can be trusted with the respective the sensitive details of the business. 

The business has been expecting high profits and based on the reviews by the Economist, they cannot bring changes to the ways of operations.  Maria should raise the whistleblower so that right decisions can be taken (West, 2016).  These changes in the ways of depreciation cannot be used for assistance in this representation of profits. This should be used in case of changes in accounting principles or business strategies.  It is it commented that no changes are made without any disclosures and without any real cause. This kind of you ever can lead to fraud because the same have been applied for misrepresenting the profits. However this cannot be considered to be financial statement fraud because this would not lead to any legal risks or criminal liability (Clarification of IAs 16 and IAS 38), 2012). 


The GAAP generally permits management to make a choice of one different ways of recording the business operations.  Similarly it permits the business to utilise any way of different station as long as it is able to appropriately, practically and systematically I locate the expenses to the assets during its whole of useful life (Miller, 2012). The business is also provided with different options to choose in case of depreciating strategies. So it can be said that the decision made by Maria is appropriate because she does not want to follow Kam that is the manager of sunshine limited.  She would be doing so on ethical bases and not following any criminal or illegal activity. 

If the manager wants to show the false claims then Maria can sue him like in the case of false claims act that is qui  tam lawsuit.  By undertaking the act of whistle blowing,  she can praise of concern regarding the risk, third or any malpractice inside the business. It is not necessary that she goes to any court or files are legal suit however she can inform the same to internal management so that they become where all the intentions of the manager. The management accountants might have legal, contractual or statutory duties to report to regulator so that they do not perform any money laundering. Therefore by  resembling to a third party, the public interest can be met. 

 As per GAAP 16, the accounting treatment for property plant and equipment's has to be carried out in such a manner so that the utilisers of financial reports can understand the details of all the businesses interested in the property planned and equipments and what all changes have been there in such investments.  The major concern in this kind of accounting is the recognising of assets, their depreciation charges, getting costs and impairment losses that relate to these assets. It is important that the approach which is utilised for calculating the depreciation should show the trend in which the assets upcoming economic gains are anticipated to be utilised by the business. 

It is necessary that the deposition approach which is chosen has to be applied on a consistent basis. I changed in this approach can be there only if it is required for presenting the financial statements in a better way or if it is necessary as per the accounting standards or law (Duska, Duska and Ragatz, 2011). In case of changes in the method of depreciation, there has to be a recalculation of the depreciation amount as per the new approach selected from a starting from the date when the asset had been put to use.  This with the surplus or any deficiency that comes up as per the retrospective reassessment has to be aligned into the records by making use of adjustment entries. 

As per Maria, search choice of some of year’s digits method for depreciation has been there for exhilarating the recognition of the depreciation amount. By doing this the maximum of the depreciation linked with the assets would be recognised in the initial years of the useful life of assets and therefore the business will be showing lesser of its profits (Wielhouwer and Wiersma, 2017). This method is more suitable and highly utilised in the straight line depreciation method in case the assets are different station quickly or at a faster pace or if the business has higher capacity to produce in the beginning years rather than upcoming years.  This will not bring any changes to the amount of depreciation however the timing of recognition of such amounts would be changed. 


This application of method can lead to indirect if it on cash flows because this kind of depreciation can lessen the sum of taxable incomes and therefore it would defer the income tax expenses to the future years. Because the Sunshine Ltd will be utilising the acceleration of deprecation methods is that it superficially lessons the accounted profit of the business for some period of time (Loeb, 2011). This way sunshine Limited would not be showing higher profits in near future and when the business’ financial reports would be made then these profits would be excessively high. 

Maria is aware that deposition met thirds show that trend in which the assets of coming gains are anticipated to be utilised by the business. It is important that businesses review their ways of appreciating at least by the end of every reporting period which is a yearly in case there is any expectation regarding the consumption of upcoming economic benefits. Therefore the same is it tickle in case of sunshine Limited. This change in my third shall be utilised for showing the altered trends.

 As per AASB116, it is important that any change in the way of depreciation calculation has to be from the beginning of the assets been purchased or acquired. As for the IAS8, the  Standard needs that the business complies with all the specific IFRS which relate to the transactions, situations all events and also this standard gives guidance on ways the accounting policies have to be created so that the reports which are created on basis of these can be  and on (Williams and Elson, 2010). The changes which are made to the ways of accounting and any corrective measures for all the errors are usually in retrospective manner. There has to be an adjustment entry passed for such changes.

 The financial report for sunshine Limited would be much more then only the economic records because it will also include disclosures. These disclosures are in the form of footnotes. The footnotes give the more details for different balances of different accounts. This footnotes sure the key accounting strategies and approaches utilised by the organisation. The business has to show ways of accounting for booking of income and expenditure, Inventory and the ways of dictation utilised. It can be said that the way of the depreciation has a huge impact on its timings of recognition in the business (Gong, 2016). 


As per the statement number 154 the latest photo for amendments and appreciation approaches for the long-standing nonphysical assets have also been applied (Koehn, 2015). The situations are not anymore recorded as the changes in accounting principle however these are considered to be changes in accounting estimations which are impacted through changes in accounting principles. Therefore the changes in financial reports for such assets will not show any cumulative impact of these changes in the income statement and there would be no retrospective utilisation of non-financial assets like these (Olive, 2012). For these kinds of non-financial assets, the business can allocate all of the residual depreciation to the remaining life of assets which are talked about. Why this latest treatment, the company can show a better financial report by simply showing the way in which they can utilise the upcoming benefits for the exit. 

 Prior to making any voluntary changes in the strategies of accounting, sunshine Ltd and its CPA has to think about the expenses and related gains. This kind of information which is required for retrospective utilisation of changes would be quite complicated then the calculation of cumulative impact of such a change because lots of years would be involved in it. Therefore connect respective utilisation will need more resources and also would lead to higher auditing charges. For the assistant of cost benefit trading off fuck off the upcoming changes in principles, it can be stated that any kind of recommends from this change might not be worthy because it would lead to higher costs (Yong,n.d.).  So it is ethical practice if Maria explains about the trafficking ability of such a change and also communicates this change and its impact to the business and its stakeholders. And is such a clean has to be made then it is advised that that and auditors are made aware of such a change and I formation has to be taken that the fresh policy is better. The business will then need to create its fresh financial statements as per the new policy and make adjustments to the previous statement so that the changes can be shown effectively (Mathenge, 2012).  Since it's a big organisation, it might wish to include its previous auditors because then the higher FC Shensi and cost-effectiveness can be ascertained for the adjustment. 

As per The FAS 154, businesses would not require to make any retrospective changes when there are changes in accounting estimations like that decision. Maria will have to just make use of the latest method in the existing year and take it forward for the residual life of the assets. So there would be no effort for the statement of prior year’s balance sheets and income statements for the changes made (Royaee and Mohammadi, 2011).



Maria has to disclose the changes in the financial statements and should not conceal the same due to the effect on reputation because this is a normal practice and can be easily carried out.  However if the right disclosures are not made then it will lead to unethical and illegal practices. In current business situation, the responsibility of accountants is important. Managers and different decision makers build up their decisions mostly on details that the accountants present (Freeman, 2014). Given that accuracy of decisions is dependent on the dependability of accounting information, the ethical aspect of the profession has got a substantial interest lately.



Clarification of acceptable methods of depreciation and amortisation (proposed amendments to IAs 16 and IAS 38). (2012). 1st ed. London: IASB.

Duska, R., Duska, B. and Ragatz, J. (2011). Accounting Ethics. 1st ed. Hoboken: John Wiley & Sons.

Freeman, R. (2014). Management Ethics: Placing Ethics at the Core of Good Management, by Domènec Melé. London: Palgrave MacMillan, 2012. ISBN: 978-0230246300. Business Ethics Quarterly, 24(01), pp.142-143.

Gong, J. (2016). Ethics in Accounting: A Decision-Making Approach. Journal of Business Ethics.

Hajjawi, O, (2008). “Pioneering in Teaching Business Ethics: The Case of Management Accounting in Universities in Palestine”, European Journal of Economics, Finance and Administrative Sciences, 149-158.

Koehn, J. (2015). Accounting Ethics. Accounting Ethics Ronald F. Duska and Brenda Shay Duska Malden, Mass.: Blackwell Publishing, 2003, 277 pp. Business Ethics Quarterly, 15(03), pp.521-529.

Loeb, S. (2011). “Teaching Students Accounting Ethics: Some Critical Issues”. Issues in Accounting Education.

Mathenge, G. D. (2012). “Ethical Dimensions in Responsible Professionalism and Accounting Procedures in Kenya: A Critical Analysis of Theory and Practice”, Research Journal of Finance and Accounting, Vol 3, No 2, 58-69.

Miller, T. (2012). Ethics in qualitative research. 1st ed. Los Angeles, Calif.: London.

Olive, C. (2012). Accounting Management. 1st ed. Delhi: University Publications.

Royaee, R. and Mohammadi, M. (2011). Ethics & Professionalism in Accounting.

Yong, K. (n.d.). The 'Depreciation Capital-Allowance Transform' (D-CAT) Model: Decomposing the Divergence between Accounting Depreciation and Tax Depreciation. SSRN Electronic Journal.

West, A. (2016). After Virtue and Accounting Ethics. Journal of Business Ethics.

Wielhouwer, J. and Wiersma, E. (2017). Investment Decisions and Depreciation Choices under a Discretionary Tax Depreciation Rule. European Accounting Review, pp.1-25.

Williams, J. and Elson, R.J. (2010). “Improving Ethical Education in The Accounting Program: A Conceptual Course”. Academy of Educational Leadership Journal, Volume 14, Number 4, 107-114.


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