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Accounting And The Potential Loss Of Accreditation For The Historically Black School

870 Words4 Pages

Ethics in Accounting

Ethics can be defined as a set of principles or rules that determine good or bad behavior. Ethics ask the question is this morally right. In order to manage a business, there must be rules of behavior set in place in order for a business to be successful. When ethics is combined with accounting it opens the door to a world of laws and principles that accounting professionals and businesses must follow to prevent ethical dilemmas in business practices. Ethics is shaped by a person’s values. Ethics in accounting depends upon a person’s character and personal ethics. Ethics should be an important part of a business because it shows that a business has credibility. It shows that a business can stand on its word and does …show more content…

It seems as though from what has been reported in the news that the school has had financial troubles for years. The president and others have mismanaged the money which has resulted in students leaving and the school losing its eligibility for grants and financial aid for its students. The school reportedly owes 17 million in debt. The school has sought aid from the state but the state has decided that it wants to investigate why this debt exists and what are other problems that exist for the school financially. The state wants to close the school down but many believe that this will only hurt the school more. If the school closed and lost its accreditation, it would take a lot of restructuring in order to get it back.
It seems as though that the 17 million debt was like an elephant in the room. They knew it was there but ignored it and kept spending. This is an unfortunate event because the school has been a long standing pillar in the community. There has been a lot of historical events that have taken place there. Questions that I would ask the leadership of the school are why did it take so long to reach out for help? Why was there not a budget in place? Why cuts were not made a long time ago? How will the school recover and regain its credibility

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Factors operating in Rancho Solano’s general and specific/internal environment to close two campuses in 2014 was changing the name of the school which lead to a new direction the school would go to in the future, the competition of charter schools in the same are as RSPS and finally and most importantly the economic recession from 2005 to 2011. These factors lead into each other why Rancho Solano closed two campuses. When the school went on to rename itself, this led people to rethink if this school was the best for their kids. The charter schools took this opportunity to show the customers that there schools were just as good if not better and with the economic recession going on it was cheaper because they were public. The evaluation of the

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