A Major perspective on accounting (financial reporting) regulation as being required to protect the public interest

A Man Has Had A Difficult Time Finding A Job That Pays Enough To Support His Family. He Has Finally Landed The Job And Has Been Working Six Months. He Discovers That His Manager Is Engaging In Illegal Activities On The Job.

How each of the five components of wise judgments can be applied to the scenario

Factual awareness of life’s important matters is one of the most important concepts to be captured in a wise decision making. Understanding the human social nature and the influence that the environment that we live in makes in our lives while maintaining the social values are an imperative balance that needs to be created (Sternberg, 2000a). In the case above, it is important that the employer considers the relationships he makes with his environment such as with the employer and deliberate on the need to keep in touch with moral and social values. Social values and activities engaged in assist in shaping character, which implies that the nature of work dealt in contributes to personal achievement and development. Since the illegality offends set out values, this concept may become important in making the appropriate decision to resolve the problem.

Additionally, procedural knowledge in wise decision making incorporates an informed approach for employing different options in different circumstances as a strategic strength to dealing with problems (Sternberg, 2000b). In the case above, the employee must have some goals in his life regarding employment and explore alternatives in achieving them. In case the goals set out are highly prioritized such as in sustaining his family as the sole bread winner, it may have implications in the manner in which he approaches his job. By defining these goals, he will need to interrogate the impacts of making decisions regarding the problem realized with the nature of employment. It is only after making a wise decision that he will understand the importance of deciding adaptation implications at the work and the implications of changing the illegal employment.

Alternatively, lifespan contextualism in making decisions is a wise approach that enables an individual to realize the importance of the role that they play in their contributions within a certain context of life. As an illustration, the man family man seeking employment in the case may need to apply contextualism concept in decision making to realize that his role is defined be a specific scope. Under such an understanding, it will be easy for the man to realize the extent of sacrifice he should make in order to sustain his family, while making the right decisions concerning his employment. Some decisions of risking one’s life to support their beloved ones may be uncalled for if the contextaulism does not allow.

The other concept involves recognizing and handling uncertainty in life which is a unique attribute that decision making acknowledges since the world cannot be a perfect place. It implies that human beings must approach their decision making duties with an awareness that error and imperfection will always occur at certain times of their encounters with the world. In a world of imperfection, decision appropriate making will be characterized by resilience capable of approaching any problem without emotional episodes of judgment that result in wrong decisions (Sternberg, 2000b). Openness to learning in decision making complement this attribute as contributed by the awareness of the fact that human knowledge is limited. The fact that the employee in the case feels overwhelmed by the nature of the employer’s illegal operations may be cooled by searching for guidance form experts while maintaining calm. By understanding that there is difficulty in achieving an ideally perfect employment condition without illegality may assist the employee to take his time in making the right decision on whether to quit or continue and how to do it.

Relativism in solution choice will be used to assist in interpreting the surrounding divergence of values and ideals among individuals. Clarity in decision making that manifests wisdom involves making objective interpretation of issues at hand. In the case above, the family man looking for employment will be better placed in decision making if it occurred to him that he has his own values that ought not to overcrowd his reasoning in the circumstances of the employment illegality. Being independent when making the appropriate decision will assist him to overcome biases in the correct approach to handle the employment. It will enable him to factor in the areas of illegality that the business deals in, the gravity of the illegality, find out what he can do to contribute and change things around and if not possible, contemplate the implications of leaving things as they are. It involves a lot of understanding in order to interrogate personal perceptions and the actual state of affairs without creating a conflict that usually arises from imposing personal ideals in dealing with decision making. This approach will facilitate taking enough time to research and understanding the various implications of the employment a.............