Virtues / Importance in Accounting

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Business Finance

Description

Please explain why virtues are important for accounting practice.  Please use examples.

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Explanation & Answer

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virtues such as honesty are important in that they attract customers. The value of honesty in business has obvious and subtle implications. Asking who benefits from business honesty can explain why virtue is also important. Examining the negative effects of dishonest business practices provides insight into the importance of honesty. In fact, it is as helpful as looking at the benefits of business honesty. Doing what is ethical because it is the right thing to do is as essential as practicing ethical behavior for the positive consequences.

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