Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.
Ethics in Functional Areas Finance
Finance <ul><li>Overestimating promoter’s capital utilization </li></ul><ul><li>Over budgeting the project costs </li></ul...
<ul><li>Claiming insurance cover for fake events </li></ul><ul><li>Using working capital funds for personal gains </li></u...
Accounting <ul><li>Showing inflated salaries </li></ul><ul><li>Getting receipts for a higher amount than they actually get...
<ul><li>Showing leniency towards a few customers owing money </li></ul><ul><li>Allowing extra TA to a select few employees...
Costing <ul><li>Reducing costs by manipulating working hours </li></ul><ul><li>Not considering the cost of rejects </li></...
Audit <ul><li>Ignoring major deviations from budgets </li></ul><ul><li>Ignoring the lowest tender </li></ul><ul><li>Helpin...
Thank You
Upcoming SlideShare
Loading in …5
×

Ethics And Functional Areas Finance

3,455 views

Published on

Published in: Technology, Business
  • Be the first to comment

Ethics And Functional Areas Finance

  1. 1. Ethics in Functional Areas Finance
  2. 2. Finance <ul><li>Overestimating promoter’s capital utilization </li></ul><ul><li>Over budgeting the project costs </li></ul><ul><li>Using underhand tactics with the financiers benefiting personally and for the firm </li></ul><ul><li>Purchasing equipment not necessary and then selling it to raise additional/unaccounted funds </li></ul><ul><li>Siphoning funds for the promoter’s personal benefit </li></ul>
  3. 3. <ul><li>Claiming insurance cover for fake events </li></ul><ul><li>Using working capital funds for personal gains </li></ul><ul><li>Over invoicing sales to get increase in working capital limits. </li></ul>
  4. 4. Accounting <ul><li>Showing inflated salaries </li></ul><ul><li>Getting receipts for a higher amount than they actually get </li></ul><ul><li>Paying inflated vendor bills to get their cut </li></ul><ul><li>Paying overtime when not required </li></ul><ul><li>Maintaining 2 sets of accounts, 1 for the management and 1 for the income tax </li></ul><ul><li>Delay making payments to vendors </li></ul>
  5. 5. <ul><li>Showing leniency towards a few customers owing money </li></ul><ul><li>Allowing extra TA to a select few employees </li></ul><ul><li>Giving dividend even as supplier bills are unpaid </li></ul><ul><li>Showing wrong figures to management </li></ul>
  6. 6. Costing <ul><li>Reducing costs by manipulating working hours </li></ul><ul><li>Not considering the cost of rejects </li></ul><ul><li>Not considering the cost of reworks </li></ul><ul><li>Not accounting for man-hours lost due to strike, absenteeism </li></ul><ul><li>Not counting the man-hours lost in maintenance </li></ul><ul><li>Not considering the time and money lost in failed experiments </li></ul><ul><li>Not considering the man-hours lost due to change in manufacturing processes. </li></ul>
  7. 7. Audit <ul><li>Ignoring major deviations from budgets </li></ul><ul><li>Ignoring the lowest tender </li></ul><ul><li>Helping in camouflaging black money </li></ul><ul><li>Helping in reducing/evading the taxes </li></ul><ul><li>Ignoring inflated bills of select employees </li></ul><ul><li>Accepting as official, personal purchases made by Directors. </li></ul><ul><li>Approving bills for substandard construction </li></ul><ul><li>Approving inflated bills of vendors </li></ul>
  8. 8. Thank You

×