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business-ethical-obligations-decision
1. Should you discuss the matter first with Troy before resp…
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| 1. Should you discuss the matter first with Troy before responding to Joyce? Explain. 2. Assume Kristen is a Certified Management Accountant and member of the Institute of Management Accountants. As such, she falls under The IMA Statement of Ethical and Professional Practice. Discuss how these ethical provisions should affect what Kristen decides to do in the context of the Integrated Ethical Decision-Making Process. 3. Apply each of the four steps of the Integrated Ethical Decision-Making Process to you decide what your course of action should be. Troy just returned from a business trip for health-care administrators in Orlando. Kristen, a relatively new employee who reports to him, also attended the conference. They both work for Gateway Hospital, a for-profit hospital in the St. Louis area. The Orlando conference included training in the newest reporting requirements in the health-care industry, networking with other hospital administrators, reports on upcoming legislation in health care, and the current status of regulations related to the Affordable Care Act. The conference was in late March and coincided with Troy’s kids’ spring break, so the entire family traveled to Orlando to check out Walt Disney World and SeaWorld. The hospital’s expense reimbursement policy is very clear on the need for receipts for all reimbursements. Meals are covered for those not provided as part of the conference registration fee, but only within a preset range. Troy has never had a problem following those guidelines. However, the trip to Orlando was more expensive than Troy expected. He did not attend all sessions of the conference, in order to enjoy time with his family. Upon their return to St. Louis, Troy’s wife suggested that Troy submit three meals and one extra night at the hotel as business expenses, even though they were personal expenses. Her rationale was that the hospital policies would not totally cover the business costs of the trip. Troy often has to travel and misses family time that cannot be recovered or replaced. Troy also knows that his boss has a reputation of signing forms without reading or careful examination. He realizes the amount involved is not material and probably won’t be detected. Kristen is approached by Joyce, the head of the accounting department, about Troy’s expenses, which seem high and not quite right. Kristen is asked about the extra night because she did not ask for reimbursement for that time. Kristen knows it can be easily explained by saying Troy had to stay an extra day for additional meetings, a common occurrence for administrators, although that was not the case. She also knows that the hospital has poor controls and a culture of “not rocking the boat,” and that other employees have routinely inflated expense reports in the past. Assume you, as Kristen, have decided the best approach, at least in the short run, is to put off responding to Joyce so that you can consider the matter further. |
In 2007 the hourly cost to employers per German industrial
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| In 2007 the hourly cost to employers per German industrial worker was $51. The hourly cost to employers per U.S. industrial worker was $31, while the average cost per Taiwanese industrial worker was $8. a. Give three reasons why firms produce in Germany rather than in a lower-wage country. b. Germany has just entered into an agreement with other EU countries that allows people in any EU country, including Greece and Italy, which have lower wage rates, to travel and work in any EU country, including high-wage countries. Would you expect a significant movement of workers from Greece and Italy to Germany right away? Why or why not? c. Workers in Thailand are paid significantly less than workers in Taiwan. If you were a company CEO, what other information would you want before you decided where to establish a new production facility? |
Fur Family Inc., a pet wholesale supplier, was organized on
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| Fur Family Inc., a pet wholesale supplier, was organized on May 1. Projected sales for each of the first three months of operations are as follows: May ……….$600,000 June …………900,000 July ………..1,100,000 All sales are on account. Of sales on account, 60% are expected to be collected in the month of the sale, 30% in the first month following the sale, and the remainder in the second month following the sale. Prepare a schedule indicating cash collections from sales for May, June, and July. |
In 2007 the hourly cost to employers per German industrial
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| In 2007 the hourly cost to employers per German industrial worker was $51. The hourly cost to employers per U.S. industrial worker was $31, while the average cost per Taiwanese industrial worker was $8. a. Give three reasons why firms produce in Germany rather than in a lower-wage country. b. Germany has just entered into an agreement with other EU countries that allows people in any EU country, including Greece and Italy, which have lower wage rates, to travel and work in any EU country, including high-wage countries. Would you expect a significant movement of workers from Greece and Italy to Germany right away? Why or why not? c. Workers in Thailand are paid significantly less than workers in Taiwan. If you were a company CEO, what other information would you want before you decided where to establish a new production facility? |
Assume the United States can produce Toyotas at the cost
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| Assume the United States can produce Toyotas at the cost of $18,000 per car and Chevrolets at $16,000 per car. In Japan, Toyotas can be produced at 1,000,000 yen and Chevrolets at 500,000 yen. a. In terms of Chevrolets, what is the of producing Toyotas in each country? b. Who has the comparative advantage in producing Chevrolets? c. Assume Americans purchase 500,000 Chevrolets and 300,000 Toyotas each year and that the Japanese purchase far fewer of each. Using productive efficiency as the guide, which country should produce Chevrolets and which should produce Toyotas? |
Tyler Cowen, an economist at George Mason University, presents an
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| Tyler Cowen, an economist at George Mason University, presents an interesting case that pits the market against legal and social forces. The case involves payola—the payment of money to disk jockeys for playing a songwriter’s songs. He reports that Chuck Berry was having a hard time getting his music played because of racism. To counter this, he offered a well-known disk jockey, Alan Freed, partial songwriting credits, along with partial royalties, on any Chuck Berry song of his choice. He chose MaybeU lene, which he played and promoted. It went on to be a hit, Chuck Berry went on to be a star, and Freed’s estate continues to receive royalties. a. Should such payments be allowed? Why? b. How did Freed’s incentives from the royalty payment differ from Freed’s incentives if Chuck Berry had just offered him a flat payment? c. Name two other examples of similar activities—one that is legal and one that is not. |
Economics is about strategic thinking, and the strategies can get
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| Economics is about strategic thinking, and the strategies can get very complicated. Suppose you kiss someone and ask whether the person liked it. You’d like the person to answer “yes” and you’d like that answer to be truthful. But they know that, and if they like you, they may well say that they liked the kiss even if they didn’t. But you know that, and thus might not really believe that they liked the kiss; they’re just saying “yes” because that’s what you want to hear. But they know that you know that, so sometimes they have to convey a sense that they didn’t like it, so that you will believe them when they say that they did like it. But you know that. . . You get the picture. Economists have studied such issues; you can find a discussion of similar issues on George Mason University Economist Tyler Cowen’s Web site (www.gmu.edu/jhc/ Tyler). (Difficult) a. Should you always be honest, even when it hurts someone? b. What strategies can you figure out to avoid the problem of not believing the other person? |
Economist Steven Landsburg argues that if one believes in the
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| Economist Steven Landsburg argues that if one believes in the death penalty for murderers because of its deterrent effect, using cost/benefit analysis we should execute computer hackers—the creators of worms and viruses—because the deterrent effect in cost saving would be greater than the deterrent effect in saving lives. Estimates are that each execution deters eight murders, which, if one valued each life at about $7 million, saves about $56 million; he estimates that executing hackers would save more than that per execution, and thus would be the economic thing to do. (Difficult) a. Do you agree or disagree with Landsburg’s argument? Why? b. Can you extend cost/benefit analysis to other areas? |
