Ethics and Governance Stakeholders

Question: Discuss about theEthics and Governance for Stakeholders. Answer: Introduction: This study deals with Ethics and Governance pertaining to the case study whereby there are two friends present namely Becks and Vicky (Zadek, Evans and Pruzan 2013). In this particular assignment, emphasis has been drawn whereby ethical issues are outlined regarding the case study. Finally, suggestions have also been made if a particular person is in place of Becks in the current situation (Tormo-Carb, Segu-Mas and Oltra 2016). Identification of the Stakeholder in the Situation From the above case study, it is easy to identify the stakeholders or involved parties namely Becks and Vicky. Becks and Vicky are two friends and Vicky asked Becks for purchase of accounting textbook from the university bookshop (Tormo-Carb, Segu-Mas and Oltra 2016). Outlining the Ethical Issues Involved Becks gained $15 by acquisition the text at a price lower than the bookshop text priced at $80. Becks had misled his friend Vicky because he failed in disclosing the cost price of $65 representing what he paid for the particular accounting textbook (Mintz 2016). Vicky, friend of Becks had lost the benefits of reduced price cost savings of $15. Becks were not honest, as he did not retain $15 cash savings for Vicky. Becks failed in acting in ethical way as it was expected as a friend (Cameron and O'Leary 2015). Becks did not even tell Vicky regarding the economic value of the book. He was found in breaching his duty to his friend Vicky by not buying the new book at $65 as well as offering $15 in return (Zadek, Evans and Pruzan 2013). Ethical issues involved in the particular case study revolve around the case regarding Becks acting unfair and unethical for his own friend Vicky (Tormo-Carb, Segu-Mas and Oltra 2016). Discuss what you would do if you were Becks If I was in place of Becks, then I would have never cheated on my friend and tell Vicky regarding the new economic value of the accounting textbook. For me, friendship means trusting each other because Vicky had trusted and given me money to buy the textbook. It will unfair on my part if I try to make profits out from that accounting textbook. I would rather buy a brand-new textbook costing $80 as listed in the bookshop and handover to my friend Vicky. I would never think of making profits from my own friend, as friendship is more important than money. It is unethical to make money from friend who has already trusted Becks for purchase of accounting textbook (Zadek, Evans and Pruzan 2013). Conclusion At the end of the study, it is concluded that the case study focus mainly on unethical issues governing from the case analysis. It is therefore recommended that Becks should have followed the ethical attributes and never thinks of cheating his own friend and making profits at the same time. It is advisable in purchasing the brand new accounting book for his friend Vicky at the economic value. Then, it will be considered that Becks was true friend to Vicky and does not possess any wrong intention for the same. Reference List Cameron, R.A. and O'Leary, C., 2015. Improving ethical attitudes or simply teaching ethical codes? the reality of accounting ethics education.Accounting Education,24(4), pp.275-290. Mintz, S., 2016.Ethical obligations and decision-making in accounting: text and cases. McGraw-Hill Higher Education. Tormo-Carb, G., Segu-Mas, E. and Oltra, V., 2016. Accounting Ethics in Unfriendly Environments: The Educational Challenge.Journal of Business Ethics,135(1), pp.161-175. Zadek, S., Evans, R. and Pruzan, P., 2013.Building corporate accountability: Emerging practice in social and ethical accounting and auditing. Routledge.