Term

Ethics

Definition

Ethics has been defined as the study of moral principles and values that govern the actions and decisions of an individual or group.

Term

Ethical dilemmas/conflicts

Definition

often involve a mental conflict between differing moral requirements, in which to obey one requirement will result in disobeying another; the AICPA Code of Professional Conduct refers to these as ethical conflicts.

Term

The steps involved in making any decision generally include

Definition

Identify the problem. Identify possible courses of action. Identify any constraints relating to the decision. Analyze the likely effects of the possible courses of action on stakeholders. Select the best course of action.