According to the dictionary, the term ethics has a variety of different meanings. One of its
meanings is: “the principles of conduct governing an individual or a group”. We sometimes use
the term personal ethics, for example, when referring to the rules by which an individual lives
his or her personal life. We use the term accounting ethics when referring to the code that
guides the professional conduct of accountants.
A second—and more important—meaning of ethics, according to the dictionary, is: Ethics is
“the study of morality.” Ethicists use the term ethics to refer primarily to the study of morality,
just as chemists use the term chemistry to refer to a study of the properties of chemical