Task Team of FUNDAMENTAL ACCOUNTING School of Business Sun Yat-sen University 2)The entry to establish the fund Cash in bank 3)A petty cash ticket whenever a disbursement is made from petty cash. No j Journa entry is made at this time 4)When the fund is replenished, all petty cash payments are recorded in a summary entry such as the one illustrated below Office Supplies Postage Expense XX Delivery Expense XX Cash Short and Over XX Cash in bank XX 7. Make ethical judgements in business (1)Most large companies have a code of ethics designed to encourage employees to act (2)Accountants who are members of the AICPa must also abide by the AlCPA Code of Professional Ethics. Accountants who are members of the IMa must also abide by the standards of Ethical Conduct for Management Accountants. (3)The following framework, found in the Decision Guidelines, is a guide to making ethical decisions I)Determine the facts 2)Identify the ethical issues 3)Specify the alternatives 4)Identify ASsess the possible outcomes 6)Make the decision (4)External controls, such as IRS audits, loan agreements, U.S. laws, also encourage ethical ehaviorTask Team of FUNDAMENTAL ACCOUNTING School of Business, Sun Yat-sen University 2)The entry to establish the fund is: Petty Cash XX Cash in Bank XX 3)A petty cash ticket whenever a disbursement is made from petty cash. No journal entry is made at this time. 4)When the fund is replenished, all petty cash payments are recorded in a summary entry such as the one illustrated below: Office Supplies XX Postage Expense XX Delivery Expense XX Cash Short and Over XX Cash in Bank XX 7. Make ethical judgements in business (1)Most large companies have a code of ethics designed to encourage employees to act ethically. (2)Accountants who are members of the AICPA must also abide by the AICPA Code of Professional Ethics. Accountants who are members of the IMA must also abide by the Standards of Ethical Conduct for Management Accountants. (3)The following framework, found in the Decision Guidelines, is a guide to making ethical decisions. 1)Determine the facts. 2)Identify the ethical issues. 3)Specify the alternatives. 4)Identify the people involved. 5)Assess the possible outcomes. 6)Make the decision. (4)External controls, such as IRS audits, loan agreements, U.S. laws, also encourage ethical behavior