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U of M ACCT 3130 - Golden Rule

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ACCT 3130 1st Edition Lecture 3 Introduction (Continued)I. Approaches to being Ethical- Manuals (should be huge), codes (every position has a codeof ethics about the smooth functioning of the system), seminars, ethicist (these are the right and wrong dudes and they tell everyone how to act in an ethical way.)II. Does this miss the point? Yes. Can a code of ethics improve upon Luke 6:31? A.K.A the “Golden Rule”III. Should a business be socially responsible or should it simply make money, assuming that it can do it without violating the law? That is, should society require more of a business than simply complying with the law?In the long run, it is better to remain ethical and truthful even if doing the wrong thing doesn’t violate the law. Yes society should demand honest and ethical behavior. Our Legal SystemI. Federal Courts: Hears cases involving federal law; cases are governed by federal laws. 99% are federal “question” cases and diversity of citizenship cases (1 person in 1 state and the other person is in another state and over 75k is involved) Federal Court has fewer judges and is more structured.  Federal Courts include: District Courts Circuit CourtsSupreme CourtsSpecialized CourtsII. District Courts: 3in Tennessee and each state have at least one. These notes represent a detailed interpretation of the professor’s lecture. GradeBuddy is best Used as a supplement to your own notes, not as a substitute.III. Circuit Courts of Appeal: (13 total) 1-6 Circuit Courts, 7th Circuit Court: good law= good economics. 9th circuit court: high on LBGT rights and very eccentric things.  What about capital punishment? Is it better to keep a person in jail for 34 years vs. spending money for doctors, appeals, litigations and etc for lethal injection? Ethical question- Can a death is made right by taking another


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