Table of Contents

Chapter 1 - Ethics and Ethical Reasoning - Section 1. 1

Learning Objectives. 1

Ethical Reasoning and Accountants. 3

Ethical Dilemmas in Accounting. 5

Chapter 1 - Section 1 Review Questions. 7

Chapter 2 - AICPA Code of Professional Conduct - Section 2. 8

Learning Objectives. 8

AICPA’s Code of Professional Conduct 8

Summaries of the Six Principles. 9

1.100 - Integrity and Objectivity Rule. 10

1.200 - Independence Rule. 14

Chapter 2 - Section 2 Review Questions. 34

Chapter 2 - AICPA Code of Professional Conduct - Section 3. 35

1.300 - General Standards Rule. 35

1.400 - Acts Discreditable Rule. 36

1.510 - Contingent Fees Rule. 39

1.520 - Commissions and Referral Fee Rule. 40

1.600 - Advertising and Other Forms of Solicitation Rule. 41

1.700 - Confidential Client Information Rule. 41

1.800 - Form of Organization and Name Rule. 42

Summary Notes. 44

Case Studies of AICPA Ethics Violations. 45

Chapter 2 - Section 3 Review Questions. 51

Chapter 3 - Other Ethical Standards - Section 4. 52

Learning Objectives. 52

Corporate Responsibility Law (Sarbanes-Oxley Act). 52

AICPA’s Standards for Tax Services. 58

Licensing and Disciplinary Systems within the Profession. 63

Maryland Law and Regulations – Board of Public Accountancy. 66

Chapter 3 – Section 4 Review Questions. 73

Review Question Answers. 74

Chapter 1 - Section 1 Review Questions Feedback. 74

Chapter 2 - Section 2 Review Questions Feedback. 75

Chapter 2 - Section 3 Review Questions Feedback. 77

Chapter 3 - Section 4 Review Questions Feedback. 79

Appendix - AICPA Ethics FAQ.. 82

Glossary. 88

Index.... 92

Final Examination. 94