ACC 375 Week 1

Individual: Understanding Ethics Matrix

Resource: Understanding Ethics Matrix located on the student website

Complete the Understanding Ethics Matrix by writing a short paragraph for each theory by considering the following:

Give a brief summary of each theory.

Identify the history and major proponents or theorists of each theory.

Define the terms utility, justice, and liberty under each theory.

Describe how each theory advocates the distribution of resources.

Cite all sources used to obtain information.

Discussion Questions

Explain the concept of utility under the utilitarianism theory. How can a business achieve a level of utility?

What is the connection between justice and utility under utilitarianism theory? What are a few assumptions and problems with utilitarianism theory?

What are the similarities and differences between the concepts of justice under the utilitarianism theory and distributive justice theory? What is the difference between concepts of ethics and morality?

What is meant by the term of management fraud? What are some red flags, or warning signs, associated with identifying fraud?

What are some social and legal implications of management fraud? How can a company protect itself from fraudulent acts?

Explain the different types of risk, such as audit risk, inherent risk, control risk, and detection risk. How can a company assess its fraud risk?