irate

A detailed Summary of irate

The Pirate Steel Company is in the steel producing industry that manufactures in the United States. The Pirate Steel Company sells its products in the United States and many other nations abroad. Pirate Steel was considered a leader in its industry and maintained high standards of achievement until foreign competition began to affect their profitability. Though Pirate Steel has never been very cost conscience in production operations, the increases in material, labor, and other inventories has made a deep impact in Pirate Steel's view on minimizing costs. With an increase in production costs, the selling price of the company's manufactured goods increased as well. This increase in prices had to be closely monitored due to competition.

With new regulations on production expenses, the people in production, like the foreperson and the manager, had the entire burden on them since they had to justify all repair and maintenance expenditures. With new procedures, every work order form had to be exaggerated so that it seemed necessary for repair and maintenance expenditures. Since the work order forms were exaggerated, the accountant found that these requests were filled with misleading

The stakeholders in this situation are the foreperson, the accountant, customers, shareholders, management, and the executives. The foreperson was the one who initially created the plan of falsifying information about repair and maintenance needs. He did this because of fear that any job delays, due to failure of machinery, would be blamed on him. The accountant is also responsible because he must decide how he must approach this situation from an ethical standpoint. There are many options for him to choose, but only one is correct.

To show competence in the workplace, the workers must be able to continually develop skills that will improve all aspects of their job. Then they must perform all of their duties and still stay in accordance with the rules and regulations that are involved with their field, and be able to prepare reports that are accurate and honest so that they can be interpreted as they are printed. Everyone must do these things to show their reliability. One example of showing reliability is shown in this quote stated "To be reliable, information must have representational faithfulness and it must be verifiable and neutral. Accounting information may not represent faithfully what it purports to represents because it has one or both of two kinds of bias (The Accounting Review, 2000, 229)."

illustrate the manner in which the work order forms should be completed. He would also use this opportunity to discuss any other improvements to the system that could be implemented. After this meeting, each individual could go to their respective departments and relay the message of how things have been changed.

The Theory of Justice involves equity, fairness, and impartiality. These major components are used in the way that individuals are affected by their treatment. The Theory of Justice could be applied to the situation by employees approaching the production management and demanding that the work order forms be much easier to be approved. The employees think that too much effort must be put into filling out reque

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Approximate Word count = 1384
Approximate Pages = 6 (250 words per page double spaced)

Category: Miscellaneous