"We do not act rightly, because we have virtue or excellence, but we rather have those because we have acted rightly." ~ Aristotle 384 B.C.-322 B.C. (Greek philosopher and scientist).
Aristotle couldn't have stated the above better about ethics and virtues. Morals and ethics are the boundaries which define a person's thoughts and character. However, they also define boundaries for business and accounting.
Principles of Accounting
Wherever there are investors and creditors involved, ethical codes in accounting can never be ignored. Accounting ethics can be defined as a set of distinct guidelines for a business to maintain clean balance sheets, accounting for their pr