Ethics

Ethics is a system or code of conduct based on moral duties and obligations that indicates how individuals should behave.

• Ethical people strive to make the right decision in all circumstances.

• Ethical behavior – how people ought to act.

3 Key Elements:

1. Ethics involves questions requiring decision making/choices

2. Ethics involves guidelines of right and wrong

3. Ethics is concerned with considering consequences of decisions

>> More Accounting Terms & Glossary?