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

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FINANCIAL REPORTING AND ETHICSMeta-ethicsThe study of the origin and meaning of ethical concepts.MoralityMorality refers to the beliefs, principles or standards of human conduct or acceptedmoral standards.Net Investment in a Fororeign EntityThis is the parent equity share in the net assets of a foreign entity.NormsStandard pattern of behaviour.OntologismBasically the theory holds that good actions come from good people.Purchase ConsiderationThis is the price paid to the seller (vendor) by the buying company. It is the aggregateamount, which the new company is to pay the owners (that is, the stakeholders) ofthe discontinuing business and creditors.ResponsibilityThe state, fact or position of being accountable to somebody or for something.Super ProfitThis is the difference between expected profit and fair return on the net tangibleassets of a company.SynergyThis is the benefit realized in a merger where the performance of the combined firmexceeds that of its previously separate parts (firms).TeleologismIt judges the rightness or wrongness of an action based on its consequences. Actionsare therefore not good in themselves; their moral values are totally based on theeffects that follow upon them.Theory of conductThis is the study of right and wrong, of obligation and permissions, of duty, of whatis above and beyond the call of duty, and of what is so wrong as to be evil.UtilitarianismOtherwise known as the ‘greatest happiness principle’, is an ethical theory that holdsthat an action is right if it produces, or if it tends to produce, the greatest amount ofgood for the greatest number of people affected by the action.ValuesThey are the basic conviction which people have as regards ‘right’ and ‘wrong’ ‘good’and ‘bad.296
APPENDIX VIBIBLIOGRAPHYChambers Hamap Publishers Ltd: “The Chambers Dictionary, , 2003.”Elegido, J. M. (2004) Fundamentals of Business Ethics – a developing nationperspective. Spectrum Books Limited, Ibadan.Frank, R. H., “Passions within Reasoneason”:”: W. W. Norton & Company, New York, 1988The Strategic Role of the Emotions.”Hoffman, W. M. and J. M. Moore, eds; Business Ethics: Readings and Cases inCorporate Morality. 2nd ed. New York: McGraw Hill, 1990.ICAN Study Pack on Financial Reporting & Ethics: VI Publishers, 2009.International Federation of Accountants (IFAC): “Code of Ethics for ProfessionalAccountants”: International Standards Board for Accountants – July, 2009.John L. Colley; “Corporate Governance.”: McGraw-Hill Professional.Kohlberg, L; “Moral Development and the New Social Studies.”: Social Education37 (1973): Pg 368 – 375.Larmer, Robert A. (1992), ‘’Whistleblowing and Employee Loyaltyoyalty.’’Journal ofBusiness Ethics, 11.2: Pg 125 - 128.Mary Oliver, “Company Lawaw.”:Macdonald & Evans Ltd, John Street, London, 1971.Nigerian Accounting Standards Board: Statements of Accounting Standards.Philip G. Cottel, Jr., and Terry M. Perlin: Accounting Ethics – A Practical Guide forProfessionals.Quorum Books, 88 Post Road, West, Westport, Connecticut 06881.Popoola, Toyin (2008), “Updates on Auditing and Ethical Standards”,ds”, A paperpresentation at the Institute of Chartered Accountants of Nigeria ExecutiveMandatory Continuing Professional Education: Pg 3 – 20.Popoola, Toyin (2009), “AccountabilityAccountability, , Transparransparency and Value for MoneyAudit”, A paper presentation at the Nigeria Institute for Policy and StrategicStudies297
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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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7THE ENVIRONMENT: CORPORATE,PROFESS
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THE ENVIRONMENT: CORPORATE, PROFESS
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8PROFESSIONAL ETHICS8. 0 LEARNING O
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PROFESSIONAL ETHICSobjectivity are
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PROFESSIONAL ETHICS(c)(d)The type o
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PROFESSIONAL ETHICSabout conflicts
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PROFESSIONAL ETHICS(d)(e)Confidenti
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PROFESSIONAL ETHICSA. III onlyB. II
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9DECISION MAKING IN ETHICS9. 0 LEAR
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DECISION MAKING IN ETHICS9.2 A FRAM
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ETHICAL THREATS AND SAFEGUARDS(d)We
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DECISION MAKING IN ETHICS4. A perso
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10ETHICAL THREATS TS AND SAFEGUARDS
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ETHICAL THREATS AND SAFEGUARDS(iv)(
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ETHICAL THREATS AND SAFEGUARDSto th
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ETHICAL THREATS AND SAFEGUARDSpayab
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ETHICAL THREATS AND SAFEGUARDS(a)Fi
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ETHICAL THREATS AND SAFEGUARDSimmin
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ETHICAL THREATS AND SAFEGUARDSHowev
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ETHICAL THREATS AND SAFEGUARDS(iii)
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11CORPORATE GOVERNANCE11.0 LEARNING
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CORPORATE GOVERNANCE11.3.1 Nature(a
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CORPORATE GOVERNANCEThe company sho
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CORPORATE GOVERNANCEtrust, possible
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CORPORATE GOVERNANCEAn agent has im
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CORPORATE GOVERNANCE(a)(b)(c)(d)(e)
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CORPORATE GOVERNANCE11.6.1 The law
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CORPORATE GOVERNANCEILLUSTRAUSTRATI
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CORPORATE GOVERNANCEimitated. They
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CORPORATE GOVERNANCE(a)(b)Greenbury
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CORPORATE GOVERNANCE11.9.2 Boards d
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CORPORATE GOVERNANCErelationship wi
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CORPORATE GOVERNANCE(e)(f)(g)(h)(i)
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CORPORATE GOVERNANCE(vi)Inquisitive
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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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Page 269 and 270: APPENDIX IICOMPREHENSIVE QUESTIONS
Page 271 and 272: COMPREHENSIVE QUESTIONS AND SUGGEST
Page 277 and 278: APPENDIX IIICASE STUDY 1Karsashi, a
Page 279 and 280: CASE STUDIES(iii)(iv)The floor sale
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Page 289 and 290: APPENDIX IVTable 1:SUMMARY OF INTER
Page 291 and 292: SUMMARY OF INTERNATIONAL ACCOUNTING
Page 293 and 294: APPENDIX VGLOSSARY OF TERMSAbsorpti
Page 295: GLOSSARY OF TERMSEthical Objectivis
Page 299 and 300: APPENDIX VIISTUDY AND EXAMINATION T
Page 301 and 302: STUDY AND EXAMINATION TECHNIQUES7.3
Page 303 and 304: INDEXAAbsorption, 17, 19, 39, 40, 4
Page 305 and 306: INDEXProfessional Behaviour, 136, 1
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