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FINANCIAL REPORTING AND ETHICS(h)(i)(j)(Virtue Approach: The ethical action is the one that embodiesthe habits and values of humans at their best.Make a Decision and Test est It(i)(ii)Considering all these perspectives, which of the options is theright or best thing to do?If you told someone you respect why you chose this option, whatwould that person say? If you had to explain your decision ontelevision, would you be comfortable doing so?Act, and then Reflect on the Decision LaterImplement your decision. How did it turn out for all concerned? If youhad to do it over again, what would you do differently?Sourcece: Issues in Ethics, V. 1, N. 2 (Winter 1988).9.3 A GUIDE TO MORAL DECISION MAKING - CHRIS MACDONALD, Ph.D..D.This guide is intended only as an aid. It is not a formula, and it does notguarantee good decisions. Note that the order of the steps is not crucial, andmay vary from one situation to the next.(a)Recognising the Moral DimensionThe first step is recognising the decision as one that has moralimportance. Important clues include conflicts between two or morevalues or ideals.(b)(c)Who Are the Interested ested Parties? What are their relationships?Carefully identify who has a stake in the decision. In this regard, beimaginative and sympathetic. Often there are more parties whoseinterests should be taken into consideration than is immediatelyobvious.Look at the relationships between the parties. Look at theirrelationships with yourself and with each other, and with relevantinstitutions. Do those relationships bring special obligations orexpectations?What Values are involved?Think through the shared values that are at stake in making thisdecision. Is there a question of trust ? Is personal autonomy aconsideration? Is there a question of fairness ? Is anyone to be harmedor helped ?186
ETHICAL THREATS AND SAFEGUARDS(d)Weigh the Benefits and the BurdensBenefits — broadly defined — might include such things as theproduction of goods (physical, emotional, financial, social, etc.) forvarious parties, the satisfaction of preferences, and acting in accordancewith various relevant values (such as fairness).Burdens might include causing physical or emotional pain to variousparties, imposing financial costs, and ignoring relevant values.(e)Look for Analogous CasesCan you think of other similar decisions? What course of action wastaken? Was it a good decision? How is the present case like that one?How is it different?(f)Discuss with Relevant PersonsThe merits of discussion should not be underestimated. Time permitting;discuss your decision with as many persons as have a stake in it. Gatheropinions, and ask for the reasons behind those opinions. Rememberthat your ability to discuss others may be limited by the other people’sexpectations of confidentiality.(g)Does this Decision Accord with Legal and Organisational Rules?Some decisions are appropriately made based on legal considerations.If one option is illegal, we should at least think very seriously beforetaking that option.Decisions may also be affected by rules set by organisations of whichwe are members. For example, most professional organisations haveCodes of Ethics which are intended to guide individual decision making.Institutions (hospitals, banks, corporations) may also have policieswhich limit the options available to us.Sometimes there are bad laws, or bad rules, and sometimes those shouldbe broken. But usually it is ethically important to pay attention to lawsand rules.(h)Am I Comfortable with this Decision?Sometimes your ‘gut reaction’ will tell you if you have missed something.Questions to be asked in this regard might include:(i) If I carry out this decision, would I be comfortable telling myfamily about it? My clergyman? My mentors?(ii) Would I want children to take my behaviour as an example?187
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FINANCIAL REPORTING AND ETHICS1.3.3
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ACCOUNTING AND REPORTING POLICIESsu
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ACCOUNTING AND REPORTING POLICIES(j
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ACCOUNTING AND REPORTING POLICIES(i
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ACCOUNTING AND REPORTING POLICIES2.
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3AMALGAMATION, ABSORPTION ANDRECONS
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AMALGAMATION, ABSORPTION AND RECONS
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4ANALYSIS AND INTERPRETATION TION O
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ANALYSIS AND INTERPRETATION OF FINA
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5ACCOUNTING STANDARDS5.0 LEARNING O
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ACCOUNTING STANDARDS(i)(ii)(iii)(iv
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ACCOUNTING STANDARDSThere is no SAS
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ACCOUNTING STANDARDS5.2.4 Borrowing
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ACCOUNTING STANDARDS(iii)Certain pe
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ACCOUNTING STANDARDSby venture capi
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ACCOUNTING STANDARDSIFRS 7 Financia
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ACCOUNTING STANDARDSactivity, non-c
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ACCOUNTING STANDARDSin the year inc
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ACCOUNTING STANDARDS(v)(vi)(vii)whe
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ACCOUNTING STANDARDS(v)Actions requ
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ACCOUNTING STANDARDSAccounting stud
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6ETHICAL FRAMEWORK, CONCEPTSAND VAL
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ETHICAL FRAMEWORK, CONCEPTS AND VAL
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Page 135 and 136: ETHICAL FRAMEWORK, CONCEPTS AND VAL
Page 147 and 148: 7THE ENVIRONMENT: CORPORATE,PROFESS
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Page 173 and 174: PROFESSIONAL ETHICSobjectivity are
Page 175 and 176: PROFESSIONAL ETHICS(c)(d)The type o
Page 177 and 178: PROFESSIONAL ETHICSabout conflicts
Page 179 and 180: PROFESSIONAL ETHICS(d)(e)Confidenti
Page 181 and 182: PROFESSIONAL ETHICSA. III onlyB. II
Page 183 and 184: 9DECISION MAKING IN ETHICS9. 0 LEAR
Page 185: DECISION MAKING IN ETHICS9.2 A FRAM
Page 189 and 190: DECISION MAKING IN ETHICS4. A perso
Page 191 and 192: 10ETHICAL THREATS TS AND SAFEGUARDS
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Page 195 and 196: ETHICAL THREATS AND SAFEGUARDSto th
Page 197 and 198: ETHICAL THREATS AND SAFEGUARDSpayab
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Page 201 and 202: ETHICAL THREATS AND SAFEGUARDSimmin
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Page 205 and 206: ETHICAL THREATS AND SAFEGUARDS(iii)
Page 207 and 208: 11CORPORATE GOVERNANCE11.0 LEARNING
Page 209 and 210: CORPORATE GOVERNANCE11.3.1 Nature(a
Page 211 and 212: CORPORATE GOVERNANCEThe company sho
Page 213 and 214: CORPORATE GOVERNANCEtrust, possible
Page 215 and 216: CORPORATE GOVERNANCEAn agent has im
Page 217 and 218: CORPORATE GOVERNANCE(a)(b)(c)(d)(e)
Page 219 and 220: CORPORATE GOVERNANCE11.6.1 The law
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Page 223 and 224: CORPORATE GOVERNANCEimitated. They
Page 225 and 226: CORPORATE GOVERNANCE(a)(b)Greenbury
Page 227 and 228: CORPORATE GOVERNANCE11.9.2 Boards d
Page 229 and 230: CORPORATE GOVERNANCErelationship wi
Page 231 and 232: CORPORATE GOVERNANCE(e)(f)(g)(h)(i)
Page 233 and 234: CORPORATE GOVERNANCE(vi)Inquisitive
Page 235 and 236: CORPORATE GOVERNANCE(e)ConsultancyA
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CORPORATE GOVERNANCEThe incoming au
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CORPORATE GOVERNANCEIn summary, acc
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CORPORATE GOVERNANCEAccording to Th
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CORPORATE GOVERNANCE3. A body corpo
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12SOCIAL AND ENVIRONMENTALISSUES IN
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SOCIAL AND ENVIRONMENTAL ISSUES IN
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APPENDIX ISUGGESTED SOLUTIONS TO RE
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SUGGESTED SOLUTIONS TO REVISION QUE
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SUGGESTED SOLUTIONS TO REVISION QUE
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APPENDIX IICOMPREHENSIVE QUESTIONS
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COMPREHENSIVE QUESTIONS AND SUGGEST
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APPENDIX IIICASE STUDY 1Karsashi, a
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CASE STUDIES(iii)(iv)The floor sale
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CASE STUDIESShare price and dividen
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CASE STUDIESSUGGESTED SOLUTION(A) A
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CASE STUDY 3The following informati
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CASE STUDIESCASE STUDY 4Ologobojo i
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APPENDIX IVTable 1:SUMMARY OF INTER
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SUMMARY OF INTERNATIONAL ACCOUNTING
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APPENDIX VGLOSSARY OF TERMSAbsorpti
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GLOSSARY OF TERMSEthical Objectivis
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APPENDIX VIBIBLIOGRAPHYChambers Ham
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APPENDIX VIISTUDY AND EXAMINATION T
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STUDY AND EXAMINATION TECHNIQUES7.3
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INDEXAAbsorption, 17, 19, 39, 40, 4
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INDEXProfessional Behaviour, 136, 1
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