Question

Why is the accounting process a common area of business mismanagement, both legally and ethically?

Is it possible for an organization, which follows a biblical worldview, to be financially successful?

Is there a shift in how you think about the business world?

Answer 1

Why accounting process has become part of business mismanagement?

The company requires a full disclosure of all documents & reports. It is considered to be violation of law & company’s ethical policy in case of employees trying to manipulating the records of financial nature or misleading external people like auditors conducting audit to manipulate the information. The mismanagement can also occur if the company’s employees & directors don’t comply with document retention & destruction policy. In which case, the employee may be penalized, fined or removed from the office.

At times, the employees who have access to confidential relating to accounting entries, various transactions etc. may use or disclose it to outsiders who doesn’t have any right on those information. Sometimes it can happen that the employees need to act for their person requirements to get monetary benefits by mishandling the accounting records or leak the sensitive information to the company’s competitors & get paid for that.

Yes organizations can be financially successful if they have a biblical worldview. This is because it is necessary for the organizations to act with justice. Being greed & dishonest can affect the organization to face problems in its growth development. On the other if the organization has good ethical practices in its financial management. It can travel in the path of success. We have come across many companies who have done many scandals & now we don’t see the address of those companies like kingfisher airlines, satyam computers etc.

there can be no shift in the way i view the business world. every business wants to increase its revenue & make profits irrespective of the method they choose in doing so. a very few focus on customer service etc.