Identify and Briefly Discuss Two of the Ethical Issues Related

question 41

Essay

Identify and briefly discuss two of the ethical issues related to e-business.

Understand the practices in safeguarding company assets and ensuring reliability in the accounting system.

Analyze financial data to determine financial health and uncover discrepancies.

Apply principles of bank reconciliation to adjust company and bank records accurately.

Utilize internal controls for cash handling and understand their impact on financial reporting.

---

Definitions:

Cost of Goods Sold

An accounting term referring to the direct costs attributable to the production of the goods sold by a company, including materials and labor.

Balance Sheet

A financial statement that reports a company's assets, liabilities, and shareholders' equity at a specific point in time.

Spreadsheet

A digital document comprised of rows and columns, used to organize, calculate, and manage data, commonly through software like Microsoft Excel or Google Sheets.

Job-Order Costing

An accounting system that tracks costs individually for each job, suitable for custom or unique product manufacturing.