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Ready-To-Use Ethics in Accounting Activity

Ethics (ac)count for a lot! Ethical guidelines preserve integrity and trust in the accounting profession, and ensure everyone can rely on the accuracy of financial information. But acting ethically is sometimes easier said than done... and poor ethical decision-making can have consequences that haunt you forever! Complete the following activity to help your students better understand the importance of ethical accounting procedures:

  1. Watch the first 2 minutes and 21 seconds of this video from the PA Institute of CPAs:
  2. Stop the video at 2:21 and ask students to imagine they are faced with the same dilemma. What would they do? What ethical principles are at stake in this situation, and what’s the right, ethical choice? What consequences do students face if they choose poorly?
  3. Then, resume the video for the next 15 seconds to see how the ethical dilemma is resolved. How does this conclusion align with the class discussion? Do students think it was the right choice? Why or why not?
  4. [Optional]: Feel free to watch the rest of the video to learn more about ethical decision-making.

For more information about the different types of accounting, how ethics affect a business’s success, and the seven key principles that guide ethical accounting behavior, check out our Daniels Fund LAP With Due Care (The Role of Ethics in Accounting).