Jasmine Pascua

Professor Corinne Anderson

Acct2010
13 September, 2015

Personal Ethics and Financial Reporting Reflection

Personal ethics are being taught to an individual everyday,

starting from the day that someone is born. My parents taught me
ethics around a faith based system. Being taught what is right and
what is wrong is also taught to be behind a faith based system but also
pressurized under social constructs and gender roles. These three
things, family, religion, and society are the prime factors by which I
learned personal ethics. For example its right to wait until youre
twenty-one before consuming alcohol because that is the law; its
wrong to not be hospitable to guests in my home because its rude.
Life is all about making choices, the right choices as a matter of fact.
Yes or no, left or right, right or wrong. Deciding which choice to make is
a psychological impulse that the brain has become trained to perform.
Decisions could also be influenced by social pressures of my peers.
When I was in high school my friends encouraged me to skip
class for the first time to go hang out. I told myself it would be just
this once. Then once turned into many times and making bad decisions

comes with its consequences. I had received a D+ for the course at the
end of the quarter. My parents taught me that good grades are
everything; anything below a B would be unacceptable because it
displayed by focuses elsewhere than my studies. I needed to get my
grade back up so I had to commit to extra credit and late work. In the
end I eventually got my grade for the class back up to an A- at the end
of the following quarter.
I believe that everything happens for a reason and going back to
change things to be different is not good for the ending outcome.
Making bad decisions have consequences and consequences help me
learn for the better.
The correlation between personal ethics and ethics in financial
reporting is that ethics in financial reporting are based on personal
ethics of the person that is performing the reporting and also the
person who is in charge, the person that implements the rules in the
first place. Personal ethics come into play when the CEO of a major
company decides what rules to create for his/her employees to follow.
For example, a company could choose to implement separation of
duties in financial reporting to prevent fraudulent acts.
The main thing to do to prevent fraudulent financial reporting is
to leave no room for opportunity. The company should implement
separation of duties. If a fraudulent crime should occur, I would report

instantly to my superior. Then work with my superior to come up with

ideas to prevent this from happening again.