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AICPA code of conduct, professional ethics, and other standard setting bodies
AICPA code of conduct, professional ethics, and other standard setting bodies
Professionals in accounting play a major role in the society. Professionals in accounting could enhance their role in the accounting profession by abiding by the American Institute of Certified Public Accountants’ code of conduct and professional ethics. Their responsibilities goes to all those make use of their services and therefore the need to act professionally and under guidance of specific ethical behaviors is of great importance. Other than the professional code of conduct and professional ethical behavior, other bodies enhance the accounting profession in the US and across the globe. This paper analyses the AICPA code of conduct, professional ethics, and other standard setting bodies. In the paper, an instance of ethical dilemma would be established alongside ethical decision-making models.
In the accounting profession, one has to understand the constituents of the profession and working terms. A professional accountant would encounter clients, grantor, the government, employees, employers, investors, business community, the financial communities, and other participants who benefits from the accounting services (AICPA, 2010). A collaboration of all these players act as one to promote, define, and maintain an orderly functioning of commerce. Again, the interest of the public is collectively integrated with the community wellbeing.
An ethical dilemma would come in some case. An example of ethical dilemma in the accounting profession is during the discharging of professional responsibilities of accountants. In this case, members may encounter some conflicting pressure from the various groups, which benefit from the profession. A solution is however available for any conflict arising due to the cases discharging the professional responsibilities (AICPA, 2010). The solution only comes in from the side of the members in which case they should act under guidance from perspectives that whenever members make fulfillment of their responsibilities specifically to the public, employees and clients are served in the best way possible.
Relying on public accountants happens with expectations of the accounting professionals to discharge their responsibilities guided by much integrity and based on certain objectives. This happens due to the professional care that is always requires in accounting that goes hand in hand with a genuine interest of serving the public. Accountants are always expected to provide high quality accounting and auditing services (Allen, 2011). In the same profession, accountants are expected to enter into various fee arrangements while offering a range of services. While this is the requirement from the public and all those benefiting from the accounting profession, adjustments is being initiated in the profession to develop better values, codes of conduct and ethical practices of accountants.
Changes in the AICPA code involve rewriting as well as restructuring the code of conduct and ethical issues surrounding the accounting profession. Changes in this case are happening to the AICPA code just like the case of FASB in creating its own Accounting Standards Codification (Allen, 2011). This project by AICPA is however in a smaller scale and is aimed at making user access simpler through establishment of ways of reorganizing the authoritative United States GAAP into one or single code that is searchable.
The code for AICPA is considered technical due to its complex confinement. It has some of its subjects scattered about its codes thus making it too complex to its member as well as other user in terms of understanding their consideration of all its standards (Sterrett, 1997). Apart from this complexity, a substantial amount of ethnic guidance that is non-authoritative is found far outside the AICPA code. All these issues generate an aspect of ethical dilemma and interference in ethical decision-making.
In the international connections, members of International Federation of Accountants, typically abbreviated as the IFAC, and those of AICPA have an agreement in having ethical standards that are compliance with the standards set by International Ethics Standards Board for Accountants, the IESBA. The AICPA code has been converging with the code of ethics established by IESBA. This trend has been happening for over a decade with the PEEC being adopted by AICPA as its authoritative conceptual framework on ethical standards (Allen, 2011).
The adopted conceptual framework by AICPA was done to help its member in complying with ethical requirement in decision-making such as the definition of several concepts as well as terms by the AICPA. This organization also provides its members with instances of threats and the actions towards safeguarding the effects of these threats (Allen, 2011). Ethical aspect in decision-making involves instances of threat detection by members within their compliance in which case the member would make use of the framework, make evaluations based on the threat significance, and then proceed by establishing whether to apply safeguards in eliminating the threat, he, or she would act in a way that would eliminate it. The issue behind this is whether the system of relying on members’ judgments is effective or not.
There is however little or no doubt that the designed conceptual framework is effective and adequate in providing basis for achieving stronger codes. In this case, the proof lies because a good conceptual framework lays a foundation for various rules as well as adding consistency beside discipline to the members’ analysis especially in situations whereby no rules are used in addressing a situation. The conceptual framework is therefore great and worth adopting to promote stronger AICPA code and ethical practices within the accounting profession (Sterrett, 1997). The framework is great but one should note that its usability is limited to overcoming existing prohibitions or even requirements that are contained within the AICPA code of conduct and ethical practices by public accountants.
References
AICPA. (2010). CODE OF PROFESSIONAL CONDUCT. Article II—The Public Interest Vol.54, No.04 , 1963-2068.
Allen, C. (2011, June ). Improving the Code of Professional Conduct: Revised structure, wording will make ethics standards more consistent. Retrieved February 26, 2013, from ETHICS / PROFESSIONAL ISSUES: http://www.journalofaccountancy.com/Issues/2011/Jun/20113740.htm
Sterrett, J. E. (1997). Professional Ethics. In Proceedings of the Annual Meeting at St. Paul, Minn., October Fourteenth–Seventeenth. American Association of Public Accountants , 108-133.
Evaluation Of Computer-Mediated Technology By Second Language Teachers
Evaluation Of Computer –Mediated Technology By Second Language Teachers
Collaboration And Interaction In The CALL
Title or Abstract
In the article, the title showed the constructs and relationships of the study, based on evaluation of the use of Computer Mediated Technology as used by the second language teachers. The abstract consisted of the purpose, method and scope of the article that encouraged the reader to read the article. Purpose of the article was clearly stated as it evaluated why language teachers did not use the Computer Mediated Technology. The author documented the purpose and introduction of the study in a relevant and logical way that the reader could understand.
Literature review
The topic of the article was as per the subject of the study. Authors described relevant theories. Existing theories differed because some authors stated that some students used the computer assisted facilities in their place of work and for personal purpose, while this aspect varied from other authors’ perspective. The conflicting findings from the previous studies were discussed and insight given to explain the conflicting results from the use of the questionnaire .The decision about the design and procedures of the present study was justified in terms of previous studies since different authors stated reasons why the language teachers rarely used the language learning technologies within their classrooms. The study goals and hypothesis were clearly stated within the text.
Method/participants
Participants were treated ethically; since none of the participants’ was harassed during the study .Ethics committee known as experts conducted the study .They used the Cohort-oriented Virtual Campus for Effective Language Learning (COVCELL) project to derive results. Sample method was used. It gave results of the study as it was a representative of the population. The selection process used was based on the approach that, students would interact and collaborate in projects, therefore had an opportunity to share their learning experiences with their colleagues.
The selection was an assignment that consisted of participants’ required to fill in questionnaires to provide the information concerning the subject matter. Power analysis was used since the survey consisted of respondents who gave their responses as per the questionnaire provided. Sampling was biased since it did not give results of the entire population. The findings showed that neither the language instructors, nor the students made use of the computer mediated technology for learning, but used it for personal purposes. The details of non-participants were not given since the sample taken gave the results required for the study (Tedick, 2005).
Method/Design
Survey research design was used in the study. The primary variables were age and language level of the respondents. Validity threats identified were errors of precision due to researchers’ engagement in the tedious work of gathering information from different countries and respondents’ inability to give correct and accurate results of the study .The validity threat overlooked was use of the sample method of collecting data as it would not give accurate information. This study was classified under longitudinal type of study because it involved a sample of the population at different points; sample gave different results and a collection of data at different points with same size of the population was carried out. The invention study was used as it involved a small population that was examined to give information about the entire population (Tedick, 2005).
Method/Measures
The instruments used in the study were well described and referenced. Reliability and validity of data presented by the instrument were presented .For instance, the questionnaire validity was established where experts gave accurate results of study, while its reliability was verified by an instrument known as cronbahs alpha index. Cronbahs alpha index is an instrument that determines the internal consistency of the data presented in the survey.
There were researcher-constructed instruments in the study as the conclusion was derived from the highest number of authors who stated that they rarely used the language learning technologies in their classrooms. Report used an exact protocol for obtaining measures as a group of people filled in questionnaires in order to give a feedback concerning the survey. Teachers were asked to report on how often they used their computer on the basis of a five-point likert scale with poles as never and on daily basis, that resulted to “never” having one point while “on a daily basis “had five points, this analysis showed that the scoring procedures were used in the study ( Tedick ,2005).
Data Analysis
The data analysis procedures were described in detail because the administrator of the questions displayed them on the site where respondents could view and answer correctly. The analysis fitted the question asked since the results were as per the researchers requirements. Assumptions of the tests were checked. Results were tested using correlation coefficient technique. This technique tested the questionnaire results that proved to be positive, thus could be relied on to make a conclusion of the study. The extent to which the data was explored with irregularities is minimal since a computerized form of collecting data was used in the study .The missing data was ignored as the sample results were considered accurate.
The references that were related to statistical software were from the Book written by Chapelle, C. 2003 and Journal written by Whelpton, M. 2007. Practical significance was used because questionnaire administered to the respondents was a practical exercise. The confidence interval was used as the sample mean of the population was used to estimate the results of the study, thus exact values from sample were derived for the study. Authors provided precise information that made the reader understand the study.
Results and Discussion
The article’s conclusions related to the results, purpose and hypothesis of the study. In addition the results of the study were directly linked to the prior knowledge of the discussion. Limitations of the study were overcome by use of web based questionnaire. Authors provided adequate information, but varied from their opinions since they gave diverse views concerning the teachers’ attitude towards the use technology in language learning.
Figures
The study showed that figures represented the results of experiments’ carried out however; the statistics of the tables were not presented as per the writing style of the study. Figure caption identified the variables related to the subject of the paper, while the title indicated the kind of variables required for the table. The figure axes was clearly labeled in the text and well represented, thus the reader did not have to refer to the test to analyze data in order to understand the study.
Tables
The title of the study indicated the variables included in the study. The variables were distribution of sample according to age and language level while the title involved the evaluation of use of Computer Mediated Technology by the language learners’ .Rows and columns of the tables were clearly labeled. The significance tests were carried out therefore the results derived were accurate. Tables represented data information; therefore reader would not have to refer to the text to clarify the results (Tedick, 2005).
References
The reference list was formatted as per the American Psychological Association (APA) style and prepared in alphabetical order. However, it was not printed on a separate page at the end of the essay. References involved the key sources of the subject matter.
Writing style
The writing style and citations of the study were well written. The author use of the writing style with inclusions brought about the effervescence of the reading experience of the article.
The author was well conversant and had researched the article in order to give the reader its insight. Language Teachers would be encouraged to implement the digital technologies and prepare Computer Assisted Language Learning plans in order to address the needs of language learners.
Reference
Tedick D. J. (2005). Second language teacher education: International perspectives
New York: Routledge.
Evaluation of an entrepreneurial venture Dyson
Name
Institution
Course
Date
Evaluation of an entrepreneurial venture: Dyson
Introduction
James Dyson, a UK based entrepreneur was the founder of Dyson Appliances Ltd (DAL). Dyson is famous for designing the Dual Cyclone bagless vacuum cleaner that functions on a theory of cyclonic separation. With a staggering growth of 300% and a presence in more than 45 countries worldwide, Dyson’s net worth currently is £3 billion (Cozon, 2013). In less than four years, Dyson managed to become a market leader, as regard sales in vacuum cleaners, both in the US and UK markets, which clearly shows its success story. However, the journey that started with launching the Ballbarrow in the 1970s to the production of the extremely successful vacuum cleaner in the 2000s has been a rather difficult one that involved struggles in procuring funds during the initial years to fighting court cases against multinational rivals for patenting rights. Despite these major setbacks, Dyson persevered, and transformed his company into a market leader, amidst stiff competition from large multinational brands. Dyson is considered as a great entrepreneur and his sense of innovation and business acumen is evident in his marketing a product that used a technology rejected by other product manufacturers. The product when launched was priced at double the average market rates for similar products and there were very little advertisements and marketing done to promote it; instead, DAL commissioned retailers through their own efforts, an occasional article that described the product was published in newspapers, and the name was made to spread by a general word of mouth.
Key Historical Facts
The company has a long history since its establishment in the 70s. Here, we will examine some of the key historical facts such as products, market entry, funding and others critical to its start up.
Products
The start of the venture started with solving problems with the wheelbarrow of the time. While he was renovating his house, Dyson found that the conventional wheel sunk into the ground making it inefficient. Dyson found a solution for this by inventing a ballbarrow made out of fiberglass. This was much easier to handle.
After this, Dyson encountered another problem dealing with a vacuum cleaner. The Hoover Junior vacuum cleaner he owned did not perform as he wanted and he therefore took it upon himself to develop a better model. Between 1979 and 1984, he developed over 5000 models of vacuum cleaners trying to make them more efficient. When he produced the first fully functional prototype, he had problems getting licensees in the European and American markets, mainly because other more established producers feared the competition he brought.
In 1986, Dyson began manufacture of the DC-series of vacuum cleaners. These had a lot of success on the market as discussed in the market entry segment. This series started with the DC01, DC02, 03, 04, 05, 06, 07, 08, 08T, DC9, 10, 11, 12, 13, 14, 15, 18, 24, and DC25.
Besides the vacuum cleaners, the company also deals in hand dryers. It is the manufacturer of the Airbade hand dryer series. This series comprises of AB01, AB03, AB06, AB07, AB08,AB09, AB10, AB11. The company also diversified into production of a bladeless fan called the Air Multiplier. The company also produced the contrarotator washing machine CR01. This was followed by the CR02. The company however dropped this product line and ceased to provide any support services for it.
Market entry
The first vacuum cleaner that the company ever sold was sold in Japan for an equivalent of $2000 in 1986. This was not a sustainable venture for mass production. After setting up a research facility in Wiltshire in 1993, a cheaper model, the DA001 was produced and retailed at $200. The DC01 later replaced this model and became popular for its transparent dust box. In just 18 months, the DC01 became the biggest selling vacuum cleaner in the market. Due to its success, the design was heavily copied.
After creating the DC01 design, Dyson used his experiences from his previous other products, especially the ballbarrow, to plan a marketing strategy for his product, wherein he first ensured all patenting rights were secured before starting negotiations (Dyson, 1998). This is an important step in strategic innovation and management, where an entrepreneur in order to protect his intellectual rights from powerful multi-national firms, must secure patenting rights to prevent any future sabotage or theft (Hart, Fazzani and Clark, 2009). However, Dyson in his book mentioned that despite all necessary precautions, from his previous experiences he was almost sure that the corporate giants would aim at stealing the design from him, regardless of all protection taken (Dyson, 1998).
While trying to market his innovation, Dyson was willing to accord a licence to production companies with special rights to patenting, and as takings, Dyson asked for a certain percentage from the profits made on product sales. In this instance, Dyson’s strategy aimed at offering a license for five to ten years, along with 5% royalty on overall price and an immediate down payment of £40,000 (Dyson, 1998). Furthermore, Dyson was willing to help creating the product from its original design. However, the leading manufacturers of vacuum cleaner at that time, such as, Electrolux, Hoover, Vax, Black and Decker, amongst many others refused to take his offer, and instead some focused on finding defects in his design (Dyson, 1998). In some cases, the MNCs expected him to give all patenting rights for a meager compensation. Sometimes Dyson faced difficulties while agreeing to negotiate, owing to the issues of protection of intellectual rights that would inevitably arise during negotiations with the designing experts of the concerned MNC (Dyson, 1998).
Funding
As mentioned earlier, the company faced challenges getting licensees from the American and European markets. However, in 1983, Apex, a Japanese company, licensed the G-Force model and publicized the model in the design magazine that year. In 1986, the production version of the model was launched in the Japanese market. One of the factors that made it very popular was that it could be folded into a table and stored in the small storage areas in Japanese apartments.
With the income earned from the Japanese license, the company was able to set up the Wiltshire research facility and come up with cheaper models. Since all appliance-producing firms had previously rejected his offer Dyson devised a new marketing plan, wherein he decided to offer his product to the UK contract manufacturers (Dyson, 1998). Next, Dyson opted to offer serial contracts to two separate manufacturing companies, where one firm would only create components and the second one would to do the assembling. However, here Dyson faced another setback, where the two firms chosen by him created certain problems. He did not accept the quality of the product manufactured, and found that the firms were placing his work in-between other old contracts, thus not giving the attention necessary to manufacture good quality products. To deal with this setback, Dyson took a major decision, where he decided to produce and assemble all by himself. He started by buying moulds from moulding firms and tried building his own factory (Dyson, 1998). However, here he faced more difficulties, related to procuring adequate funds. He discovered that getting a financial loan, even with a successful business product was extremely difficult. To overcome this problem, Dyson looked at the setting up his factory in places where governmental grants were possible, but David Hunt, a Welsh Minister, rejected his application (Dyson, 1998). By this time, more than a decade had passed and he had spent nearly £2 million. Finally, after a long negotiation, Dyson managed to convince his local bank into granting him a loan, which allowed him to establish his production unit in Wiltshire, and finally the first bagless vacuum cleaners came into the UK market in 1992 (Dyson, 1998). USP (Unique Selling Position)
After the manufacture of first series of the bagless vacuum cleaners (DC01), James Dyson started visiting famous retailers, such as, Comet and Dixons to procure order for sales. Once again, Dyson met with a failure. The retailers failed to understand why consumers would buy a machine that was three times more expensive than any other vacuum cleaner already present in the market. Finally, few home catalogue firms decided to feature the cleaner in their product lists, while a Midlands electric store decided to stock them. The sales picked up very slowly but later showed a constant rise, and finally the John Lewis store decided to stock the innovative cleaners. After this, product sales showed a rapid rise, and the company soon turned into one of the market leaders, in the arena of vacuum cleaners.
James Dyson adopted a new concept in sales and marketing, where no advertisements were made to promote the product, which was another major risk, taking into consideration the hurdles faced previously (Janney and Dess, 2006). In this context, Dyson maintained that being product orientated, he always felt that with good quality products promotional works are not an absolute necessity (Dyson, 1998). Therefore, despite using a completely new technology, he did not spend large amounts on advertisements and relied only on a handful of press releases and print features.
Key Strategic Decisions
In order to survive as an entrepreneur, Dyson had to make several strategic decisions to ensure the well being of his company an profitability.
Target market
Dyson started with markets in Japan. The G-Force design had a feature that allowed it to be folded into a table. The structure of Japanese apartments is small and therefore has limited storage space. The folding feature saved space and made the design popular. This led the design to win the international design fair prize in 1991.
Initially, Dyson had contracted two manufacturers in an effort to serve the needs of the UK market. However, since they did not meet his quality needs, he decided to do the manufacturing himself. Quality was an important contributor to the company’s success.
Funding
After taking over manufacturing from the two companies, Dyson faced challenges in funding and setting up his production plant. His efforts to set up in areas with government grants were futile since his application was rejected. However, he eventually managed to secure a loan from a local bank and establish his production plant in Wiltshire. This made it possible to roll out his products in the UK market.
Marketing strategy
When Dyson entered the US markets in 2002, he decided to adopt a new marketing strategy, where he did not apply for any intellectual property protection, and simply relied on the brand name and image. Currently Dyson is “the top selling upright vacuum cleaner brand in the US, with a near 27% market share” (BBC Business News, 2012). Dyson used a marketing strategy in the US that was different from the UK/Europe strategy, wherein a successful advertising campaign worth millions of dollars was used. In Japan, Dyson became the third largest name in vacuum cleaners after overtaking Toshiba, and here Dyson strategically made an innovation in the name of Dyson DC12, specially designed for consumers in Japan. Owing to the huge success in Japan and the US markets, the company “turnover was £1.05bn, up from £887m in 2010 [and] its earnings grew by 30% in 2011 to £306.3m.
Route to market
Dyson has been increasing the amount of products it sells outside the UK. Last year it sold 85% of its machines outside the UK, compared with 30% in 2005…[furthermore] Dyson – which now employs nearly 4,000 people worldwide – also said that it planned to increase its spend on research and development by 20% over the next five years” (BBC Business News, 2012).
Evaluation of the Decisions
From the review, it is clear that Dyson exhibited many of the characters, skills and behaviours given in the various definitions of entrepreneurs. He exhibited perseverance and self-confidence even when his plans failed to take-off, he remained goal oriented despite constant failure and stiff opposition; he was able to make strong decisions that involved taking risks to some extent. He was oriented towards problem solving, and was a successful negotiator, which is evident in his dealings with the Japanese firm and later the local bank. Besides these, his designs showed creativity, he made use of all possible opportunities, and was adept at dealing with setbacks and uncertainties.
Besides designing a revolutionary technology, Dyson had used various innovative marketing strategies that varied according to the needs of the targeted market. His perseverance in face of constant failures and setbacks, his self-confidence, his sense of conviction in his own invention, and his ability to make decisions and negotiate, made his entrepreneurial venture a complete success, despite lack of promotional advertisements and a stiff competition from powerful multinational brands. The process of entrepreneurship, as derived from the above case study, appears as a persistent pursuit and seizing of opportunities, regardless of the resources that remain under the entrepreneur’s control, and it is in sync with the definitions provided by the experts.
In the last two decades, policy-makers have acknowledged that that small business enterprise play a significant important role in promoting industrial growth and increasing job opportunities (Deakins, and Freel, 2009; Burns, 2011). Reviews showed that in the US, small firms with fewer employees (less than 20), created a large scope for new job opportunities (Birch, 1979). These figures later encouraged the UK government (under Thatcher) to establish a form of ‘enterprise culture’ that encouraged innovations in the field of business and management (Bridge, O’Neill, and Cromie, 1998). This interest by the government was reflected in the form of enhanced focus on innovation and entrepreneurship in the last two decades, in the context of promoting small business firms (Chell, Nicolopoulou and Karatas-Ozkan, 2010).
To delineate an entrepreneurial person some specific characteristics, skills and behaviors are generally associated with that person. Characteristics include perseverance, resourcefulness, confidence, goal oriented and adaptability; skills include ability to make decisions, solve problems and negotiate; and behaviors include creativity, opportunity seeking, and dealing uncertainties and setbacks (Gibb, 1999).
Stevenson and Sahlman suggested, “Entrepreneurship is the relentless pursuit of opportunity without regard to resources currently controlled” (1989, 104). In another definition Stevenson and Jarillo stated, “[It] is a process by which individuals – either on their own or inside organizations – pursue opportunities without regard to the resources currently controlled” (1990, 23). Later Chell claimed that the process of entrepreneurship involves “recognizing and pursuing opportunities with regard to the alienable and inalienable resources currently controlled with a view to value creation (2007, 18). From the above definitions, it is evident that entrepreneurship is a process where a business venture lacks full control over the available resources. In this context, it must be kept in mind that resources do not merely relate to economic terms, but include social and human capital (Barringer and Ireland, 2012). Additionally, to act as an entrepreneur, one must work in a venture that creates and adds value. Besides these, entrepreneurs generally have a strong network, which they use for procuring social capital and creating a wide scope for turning their objectives into reality (Chell and Baines, 2000).
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