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2 pages/≈550 words
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Style:
APA
Subject:
Accounting, Finance, SPSS
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Essay
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English (U.S.)
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Topic:

Faith and Ethical Decision Making in the Workplace

Essay Instructions:

GCU’s Statement on the Integration of Faith and Work states, “We recognize and embrace the potential of human work for furthering the greater good and strive to further the good of the culture and the society.” Consider how you might approach the following scenario in a manner that is in accord with the spirit of GCU’s perspective of the integration of faith in one’s workplace.
Scenario:
Tones Company purchased a warehouse in a downtown district where land values are rapidly increasing. Gerald Carter, controller, and Wilma Ankara, financial vice president, are trying to allocate the cost of the purchase between the land and the building. Noting that depreciation can be taken only on the building, Carter favors placing a very high proportion of the cost on the warehouse itself, thus reducing taxable income and income taxes. Ankara, his supervisor, argues that the allocation should recognize the increasing value of the land, regardless of the depreciation potential of the warehouse. Besides, she says, net income is negatively impacted by additional depreciation and will cause the company's stock price to go down. (Based on Concepts for Analysis 10-6 from Intermediate Accounting.)
Write a paper (500‐750 words) that addresses the following:
Recommendation of an ethical decision in the scenario.
Explanation of how the ethical decision supports the good of the culture and the society.
Implications of applying a Christian worldview within the accounting workplace, in general.
The paper may be written in the first person and must be grammatically correct. At least two external sources should be cited.

Essay Sample Content Preview:

Faith and Ethical Decision Making In the Workplace
Name
Department, Grand Canyon University
Course Code: Course Name
Instructor’s Name
Due Date
Faith and Ethical Decision Making In the Workplace
Background
The issue of contention is whether there should be a high allocation of the cost of the warehouse (building) over the asset’s useful life, which would reduce the taxable income. Yet, the cost of land is appreciating. While the building will be depreciated (expensed) over useful life, land value is increasing, but Gerald Carter does not want this considered. Decisions and choices have consequences, and promoting ethical decision-making and ethical values are necessary.
Ethical Decision Recommendation
 The ethical decision focuses on the most appropriate cost allocation of the land and the building (warehouse). According to standards, there should be a focus on reporting and treatment of buildings and depreciation of warehouses to present a true and fair view in financial statements. Depreciation is deducted from the cost of a fixed asset to get the book or carrying value, and the depreciation expense affects fixed assets other than land during the asset’s life (Rich et al., 2016). Information on the cost, useful life, residual (salvage) value, accounting standards, and depreciation method should guide the decision in the depreciation cost allocation process. Carter’s proposal of allocating high depreciation on the warehouse to reduce the taxable income and income taxes is unethical.  
Ethical Decisions, Culture, and the Society
Decision-making is crucial to an organization’s growth and future direction. In decision-making, there should be an emphasis on ethics as leaders set the tone for others to follow ethics. Ethical decision-making is associated with transparency, accountability, integrity, and fair and honest decisions that benefit the organization and stakeholders. When the senior managers promote and support ethical decision-making, this shapes attitudes and the organizational culture. In any case, making ethical decisions based on ethical principles is associated with prioritizing what is right and respecting all (Payne et al., 2016). The senior management should not merely focus on profitability at all costs and instead be guided by well-defined ethical values while building...
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