Accountants – NBC Institute

FA – May 2013 – L1 – SB – Q2 – Roles of Accountants in Business and the Economy

This question discusses the various roles played by accountants in an organization.

Question

a. Most Organizations require the services of an accountant. State FIVE roles of an accountant in an Organization. (5 Marks)

b. Yaro Chukwu Plc is a manufacturing company based in Ile-Ife. It commenced business in 2008 with five vehicles costing N650,000 each. The company depreciates its assets at 20% on cost, using straight line method by providing full depreciation in the year of purchase and none in the year of disposal. Another vehicle costing N900,000 was purchased in 2009 to replace the one
sold in 2008 for N450,000, while the company still maintains its depreciation policy.
You are required to prepare:
i. Motor vehicle account up to 31 December 2012 (4 Marks)
ii. Disposal of Assets Account (2 Marks)
iii. Provision for depreciation account up to 31 December 2012 (4 Marks)

Answer

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Tags: Accountants, Decision Making, Financial Reporting
Level: Level 1

Topic: Roles of Accountants in Business and the Economy
Series: MAY 2013

BMF – May 2021 – L1 – SB – Q6b – The Role of Professional Accountants in Business and Society

State the expectations of the public regarding accountants and their professional bodies.

Question

State the expectations of the public in respect of the accountants and the professional bodies they affiliate with.

Answer

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Tags: Accountants, Ethics, Professional Bodies, Public Trust
Level: Level 1

Topic: The Role of Professional Accountants in Business and Society
Series: MAY 2021

FA – Nov 2023 – L1 – SA – Q1 – Roles of Accountants in Business and the Economy

Identify the primary roles of accountants in business and the economy.

Question

What are the primary roles of accountants in business and the economy?

A. Providing legal advice to businesses and individuals
B. Managing human resources and employee recruitment
C. Conducting market research and analysing consumer behaviour
D. Preparing financial statements and conducting audits
E. Designing marketing campaigns and advertising strategies

Answer

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Tags: Accountants, Audits, Business Roles, Economy, Financial Statements
Level: Level 1

Topic: Roles of Accountants in Business and the Economy
Series: NOV 2023

BMF – May 2024 – L1 – SB – Q3a – The Role of Professional Accountants in Business and Society

Discuss the ethical threats faced by professional accountants and their impact on compliance with laws and regulations.

Question

a. Explain briefly FIVE ethical threats that could compromise a professional accountant’s ability to comply with relevant laws and regulations. (5 Marks)

Answer

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Tags: Accountants, Ethical Threats, Ethics, Laws and regulations, Professional Conduct
Level: Level 1

Topic: The Role of Professional Accountants in Business and Society
Series: MAY 2024

BMF – May 2024 – L1 – SA – Q7 – The Role of Professional Accountants in Business and Society

Determining what guides the decisions and actions of professional accountants within organizations.

Question

The decisions and actions of all professional accountants in an organization are guided by:
A. Organizational culture
B. Management
C. Professional trainings
D. Core values
E. Corporate code of ethics

Answer

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Tags: Accountants, Business Culture, Professional Ethics
Level: Level 1

Topic: The Role of Professional Accountants in Business and Society
Series: MAY 2024

BMIS – Nov 2021 – L1 – Q2b – Professional ethics in accounting and business

Differentiate between a business code of ethics and a professional code of ethics for accountants.

Question

You have been invited as the Chief Operating Officer of Your Trusted Associates, a reputable Accounting and Management Consulting firm, to deliver the keynote address at a graduation ceremony for newly qualified Accountants.

Required:
In your address, differentiate between a “business code of ethics” and a “professional code of ethics” for Professional Accountants. (5 marks)

Answer

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Tags: Accountants, Business Ethics, Code of Conduct, Professional Ethics
Level: Level 1

Topic: Professional ethics in accounting and business
Series: NOV 2021

FA – May 2013 – L1 – SB – Q2 – Roles of Accountants in Business and the Economy

This question discusses the various roles played by accountants in an organization.

Question

a. Most Organizations require the services of an accountant. State FIVE roles of an accountant in an Organization. (5 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Accountants, Decision Making, Financial Reporting
Level: Level 1

Topic: Roles of Accountants in Business and the Economy
Series: MAY 2013

BMF – May 2021 – L1 – SB – Q6b – The Role of Professional Accountants in Business and Society

State the expectations of the public regarding accountants and their professional bodies.

Question

State the expectations of the public in respect of the accountants and the professional bodies they affiliate with.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Accountants, Ethics, Professional Bodies, Public Trust
Level: Level 1

Topic: The Role of Professional Accountants in Business and Society
Series: MAY 2021

FA – Nov 2023 – L1 – SA – Q1 – Roles of Accountants in Business and the Economy

Identify the primary roles of accountants in business and the economy.

Question

What are the primary roles of accountants in business and the economy?

A. Providing legal advice to businesses and individuals
B. Managing human resources and employee recruitment
C. Conducting market research and analysing consumer behaviour
D. Preparing financial statements and conducting audits
E. Designing marketing campaigns and advertising strategies

Answer

Find Related Questions by Tags, levels, etc.

Tags: Accountants, Audits, Business Roles, Economy, Financial Statements
Level: Level 1

Topic: Roles of Accountants in Business and the Economy
Series: NOV 2023

BMF – May 2024 – L1 – SB – Q3a – The Role of Professional Accountants in Business and Society

Discuss the ethical threats faced by professional accountants and their impact on compliance with laws and regulations.

Question

a. Explain briefly FIVE ethical threats that could compromise a professional accountant’s ability to comply with relevant laws and regulations. (5 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Accountants, Ethical Threats, Ethics, Laws and regulations, Professional Conduct
Level: Level 1

Topic: The Role of Professional Accountants in Business and Society
Series: MAY 2024

BMF – May 2024 – L1 – SA – Q7 – The Role of Professional Accountants in Business and Society

Determining what guides the decisions and actions of professional accountants within organizations.

Question

Answer

Find Related Questions by Tags, levels, etc.

Tags: Accountants, Business Culture, Professional Ethics
Level: Level 1

Topic: The Role of Professional Accountants in Business and Society
Series: MAY 2024

BMIS – Nov 2021 – L1 – Q2b – Professional ethics in accounting and business

Differentiate between a business code of ethics and a professional code of ethics for accountants.

Question

Required:
In your address, differentiate between a “business code of ethics” and a “professional code of ethics” for Professional Accountants. (5 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Accountants, Business Ethics, Code of Conduct, Professional Ethics
Level: Level 1

Topic: Professional ethics in accounting and business
Series: NOV 2021

Question Tag: Accountants

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FA – May 2013 – L1 – SB – Q2 – Roles of Accountants in Business and the Economy

This question discusses the various roles played by accountants in an organization.

BMF – May 2021 – L1 – SB – Q6b – The Role of Professional Accountants in Business and Society

State the expectations of the public regarding accountants and their professional bodies.

FA – Nov 2023 – L1 – SA – Q1 – Roles of Accountants in Business and the Economy

Identify the primary roles of accountants in business and the economy.

BMF – May 2024 – L1 – SB – Q3a – The Role of Professional Accountants in Business and Society

Discuss the ethical threats faced by professional accountants and their impact on compliance with laws and regulations.

BMF – May 2024 – L1 – SA – Q7 – The Role of Professional Accountants in Business and Society

Determining what guides the decisions and actions of professional accountants within organizations.

BMIS – Nov 2021 – L1 – Q2b – Professional ethics in accounting and business

Differentiate between a business code of ethics and a professional code of ethics for accountants.

FA – May 2013 – L1 – SB – Q2 – Roles of Accountants in Business and the Economy

This question discusses the various roles played by accountants in an organization.

BMF – May 2021 – L1 – SB – Q6b – The Role of Professional Accountants in Business and Society

State the expectations of the public regarding accountants and their professional bodies.

FA – Nov 2023 – L1 – SA – Q1 – Roles of Accountants in Business and the Economy

Identify the primary roles of accountants in business and the economy.

BMF – May 2024 – L1 – SB – Q3a – The Role of Professional Accountants in Business and Society

Discuss the ethical threats faced by professional accountants and their impact on compliance with laws and regulations.

BMF – May 2024 – L1 – SA – Q7 – The Role of Professional Accountants in Business and Society

Determining what guides the decisions and actions of professional accountants within organizations.

BMIS – Nov 2021 – L1 – Q2b – Professional ethics in accounting and business

Differentiate between a business code of ethics and a professional code of ethics for accountants.

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Question Tag: Accountants

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FA – May 2013 – L1 – SB – Q2 – Roles of Accountants in Business and the Economy

This question discusses the various roles played by accountants in an organization.

You're reporting an error for "FA – May 2013 – L1 – SB – Q2 – Roles of Accountants in Business and the Economy"

BMF – May 2021 – L1 – SB – Q6b – The Role of Professional Accountants in Business and Society

State the expectations of the public regarding accountants and their professional bodies.

You're reporting an error for "BMF – May 2021 – L1 – SB – Q6b – The Role of Professional Accountants in Business and Society"

FA – Nov 2023 – L1 – SA – Q1 – Roles of Accountants in Business and the Economy

Identify the primary roles of accountants in business and the economy.

You're reporting an error for "FA – Nov 2023 – L1 – SA – Q1 – Roles of Accountants in Business and the Economy"

BMF – May 2024 – L1 – SB – Q3a – The Role of Professional Accountants in Business and Society

Discuss the ethical threats faced by professional accountants and their impact on compliance with laws and regulations.

You're reporting an error for "BMF – May 2024 – L1 – SB – Q3a – The Role of Professional Accountants in Business and Society"

BMF – May 2024 – L1 – SA – Q7 – The Role of Professional Accountants in Business and Society

Determining what guides the decisions and actions of professional accountants within organizations.

You're reporting an error for "BMF – May 2024 – L1 – SA – Q7 – The Role of Professional Accountants in Business and Society"

BMIS – Nov 2021 – L1 – Q2b – Professional ethics in accounting and business

Differentiate between a business code of ethics and a professional code of ethics for accountants.

You're reporting an error for "BMIS – Nov 2021 – L1 – Q2b – Professional ethics in accounting and business"

FA – May 2013 – L1 – SB – Q2 – Roles of Accountants in Business and the Economy

This question discusses the various roles played by accountants in an organization.

You're reporting an error for "FA – May 2013 – L1 – SB – Q2 – Roles of Accountants in Business and the Economy"

BMF – May 2021 – L1 – SB – Q6b – The Role of Professional Accountants in Business and Society

State the expectations of the public regarding accountants and their professional bodies.

You're reporting an error for "BMF – May 2021 – L1 – SB – Q6b – The Role of Professional Accountants in Business and Society"

FA – Nov 2023 – L1 – SA – Q1 – Roles of Accountants in Business and the Economy

Identify the primary roles of accountants in business and the economy.

You're reporting an error for "FA – Nov 2023 – L1 – SA – Q1 – Roles of Accountants in Business and the Economy"

BMF – May 2024 – L1 – SB – Q3a – The Role of Professional Accountants in Business and Society

Discuss the ethical threats faced by professional accountants and their impact on compliance with laws and regulations.

You're reporting an error for "BMF – May 2024 – L1 – SB – Q3a – The Role of Professional Accountants in Business and Society"

BMF – May 2024 – L1 – SA – Q7 – The Role of Professional Accountants in Business and Society

Determining what guides the decisions and actions of professional accountants within organizations.

You're reporting an error for "BMF – May 2024 – L1 – SA – Q7 – The Role of Professional Accountants in Business and Society"

BMIS – Nov 2021 – L1 – Q2b – Professional ethics in accounting and business

Differentiate between a business code of ethics and a professional code of ethics for accountants.

You're reporting an error for "BMIS – Nov 2021 – L1 – Q2b – Professional ethics in accounting and business"

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