Financial Reporting and Ethics - The Institute of Chartered ...

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FINANCIAL REPORTING AND ETHICS(iii)(iv)Is this decision one which a wise, informed, virtuous person wouldmake?Can I live with this decision?9.4 SUMMARY AND CONCLUSIONSWe have to reemphasis here that the two models of ethical decision makingpresented above are simply guides intended only as an aid, not a formula, andmost importantly do not guarantee good decisions. However if you have everwondered why some business people and professional accountants make whatappears to be the right ethical choices and some simply do things that areunscrupulous, illegal and outrightly immoral, it is because of a neglect of thesemodels. In other words, if you have ever wished to be ethical, study and practiceeither of these models.Note that the order of the steps is not crucial, and may vary from one situationto the next.Refer to Comprehensive Questions and Suggested Solutions in Appendix II,page 269.9.5 REVISION QUESTIONS9.5.1 MULTIPLE-TIPLE-CHOICE QUESTIONS1. Effective integration of ethics into business decision making will solve oneof these.(a) Moral inconsistency(b) Indecision in Business(c) Ethical dilemma(d) Ethical uncertainty(e) Moral non-productivity.2. Moral intensity is multidimensional, consisting of six components. Whichof these is NOT one of those components?(a) Magnitude of consequences and proximity(b) Social Consensus and concentration of effect(c) Probability of effect(d) Temporal immediacy(e) Social gravity.3. Making good ethical decisions requires a trained...............................(a) Sensitivity to ethical issues(b) Creativity to moral issues(c) Philosopher(d) Ethics manager(e) Conscience.188
DECISION MAKING IN ETHICS4. A person who treats the equal equally and the unequal unequally orproportionately, adopts which of these approaches in ethical decisionmaking?(a) Equality approach(b) Inequality approach(c) Inter-quality approach(d) Justice Approach(e) Virtue approach.5. The first step in making ethical decision is?(a) Getting the facts(b) Analysing the facts and issues(c) Evaluating various ethical perspectives(d) Recognising the different cultures(e) Recognising an ethical issue9.5.2 Short Answer Questions1. Major ethical theories are not precise, hence the enforcement of ethicalactions relies on_______________________2. Conflicting ethical decisions may arise from conflicting sets of ____________within the same culture.3. ________________suggests that ethical decisions are primarily contingentupon the perceived characteristics of the issues at stake.4. The ethical action that contributes most to the achievement of a qualitylife together is known as____________5. Colonel Obi’s ethical actions embody the habits and values of humans attheir best. He adopts______________________ in making ethical decisions.Refer to Suggested Solutions in Appendix I, Page 263.189
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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 137 and 138: ETHICAL FRAMEWORK, CONCEPTS AND VAL
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Page 207 and 208: 11CORPORATE GOVERNANCE11.0 LEARNING
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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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