Ethical behavior – NBC Institute

FR – MAY 2021 – L2 – Q5a – Ethical Compliance

Identify and evaluate ethical threats faced by KK in Dibimame Ltd's financial statements.

Question

a) Kwadwo Kusi (KK), the Financial Accountant of Dibimame Ltd was reviewing the draft
financial statements prepared by an Accounts Officer and came across the following issues:
i) In calculating the interest on staff loan, the Accounts Officer in error applied 5% instead of
10% interest rate. KK is a beneficiary of the staff loan and a member of the staff loan
committee.
ii) The staff union has demanded a separate accounts for the staff loan. This they advise would
promote transparency and accountability in the process and approval of loans.
iii) Included in accounts receivables was a company known as Sede Ltd, owned by his motherin law. Instead of an outstanding amount of GH¢60,000, the account balance as per the
draft financial statements was GH¢80,000.
iv) The CEO who is known to be domineering has an outstanding balance of GH¢100,000.
This was as a result of cumulative unaccountable imprest which is against the accounting
policy of Dibimame Ltd.
Required:
Identify, evaluate and address the above threats to compliance with the fundamental
principles of good ethical behavior, KK is confronted with

Answer

Find Related Questions by Tags, levels, etc.

Tags: Accountability, Compliance, Ethical behavior, Professional Conduct, Transparency
Level: Level 2

Topic: Professional and Ethical Issues in Financial Reporting
Series: MAY 2021

BL – Nov 2019 – L1 – SB – Q3b Business Ethics and Corporate Governance-

Identifying the factors that influence ethical behavior in a business environment.

Question

Business ethics is concerned with what is right or wrong practice in the business environment.
Required:
State FOUR factors that influence individual ethical behavior in a business environment. (4 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Business Environment, Ethical behavior, Factors, usiness ethics
Level: Level 1

Topic: Business Ethics and Corporate Governance
Series: NOV 2019

BMF – Mar July 2020 – L1 – SB – Q4a – The Role of Professional Accountants in Business and Society

Listing and explaining five threats that can impair the conduct of a professional accountant.

Question

A broad range of relationships and circumstances could compromise a professional accountant’s ability to comply with the fundamental principles of ethical behavior.

Required:
List and explain FIVE threats that can impair the conduct of a professional accountant in a business environment.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Business Environment, Ethical behavior, Professional Conduct
Level: Level 1

Topic: The Role of Professional Accountants in Business and Society
Series: MAR/JULY 2020

MA – May 2021 – L2 – Q3b – Other aspects of performance measurement

b) The Estate Manager of Swift International Company was charged to coordinate the procurement process for the award of a contract to construct a warehouse for the company. In the process, the Chief Executive Officer (CEO) called on the manager to ensure the contract is awarded to Gyidi Construction Works, whose owner is the CEO's friend. When the bids were evaluated, Gyidi placed fourth in terms of responsiveness but being guided by the CEO’s directive, the project was awarded to Gyidi Construction Works. Being guilty of not acting professionally, the estate manager admitted that he had acted unethically. Required: Identify and explain FOUR (4) threats to ethical behaviour as a Management Accountant. (10 marks)

Question

b) The Estate Manager of Swift International Company was charged to coordinate the procurement process for the award of a contract to construct a warehouse for the company. In the process, the Chief Executive Officer (CEO) called on the manager to ensure the contract is awarded to Gyidi Construction Works, whose owner is the CEO’s friend. When the bids were evaluated, Gyidi placed fourth in terms of responsiveness but being guided by the CEO’s directive, the project was awarded to Gyidi Construction Works. Being guilty of not acting professionally, the estate manager admitted that he had acted unethically.

Required:
Identify and explain FOUR (4) threats to ethical behaviour as a Management Accountant. (10 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Ethical behavior, Professional Conduct, Threats to ethics
Level: Level 2

Topic: Other Aspects of Performance Measurement
Series: MAY 2021

FR – MAY 2021 – L2 – Q5a – Ethical Compliance

Identify and evaluate ethical threats faced by KK in Dibimame Ltd's financial statements.

Question

Answer

Find Related Questions by Tags, levels, etc.

Tags: Accountability, Compliance, Ethical behavior, Professional Conduct, Transparency
Level: Level 2

Topic: Professional and Ethical Issues in Financial Reporting
Series: MAY 2021

BL – Nov 2019 – L1 – SB – Q3b Business Ethics and Corporate Governance-

Identifying the factors that influence ethical behavior in a business environment.

Question

Answer

Find Related Questions by Tags, levels, etc.

Tags: Business Environment, Ethical behavior, Factors, usiness ethics
Level: Level 1

Topic: Business Ethics and Corporate Governance
Series: NOV 2019

BMF – Mar July 2020 – L1 – SB – Q4a – The Role of Professional Accountants in Business and Society

Listing and explaining five threats that can impair the conduct of a professional accountant.

Question

A broad range of relationships and circumstances could compromise a professional accountant’s ability to comply with the fundamental principles of ethical behavior.

Required:
List and explain FIVE threats that can impair the conduct of a professional accountant in a business environment.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Business Environment, Ethical behavior, Professional Conduct
Level: Level 1

Topic: The Role of Professional Accountants in Business and Society
Series: MAR/JULY 2020

MA – May 2021 – L2 – Q3b – Other aspects of performance measurement

b) The Estate Manager of Swift International Company was charged to coordinate the procurement process for the award of a contract to construct a warehouse for the company. In the process, the Chief Executive Officer (CEO) called on the manager to ensure the contract is awarded to Gyidi Construction Works, whose owner is the CEO's friend. When the bids were evaluated, Gyidi placed fourth in terms of responsiveness but being guided by the CEO’s directive, the project was awarded to Gyidi Construction Works. Being guilty of not acting professionally, the estate manager admitted that he had acted unethically. Required: Identify and explain FOUR (4) threats to ethical behaviour as a Management Accountant. (10 marks)

Question

Required:
Identify and explain FOUR (4) threats to ethical behaviour as a Management Accountant. (10 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Ethical behavior, Professional Conduct, Threats to ethics
Level: Level 2

Topic: Other Aspects of Performance Measurement
Series: MAY 2021

Question Tag: Ethical behavior

Filter by Professional Bodies

Filter by Subject

Filter by Series

Filter by Topics

Filter by Levels

FR – MAY 2021 – L2 – Q5a – Ethical Compliance

Identify and evaluate ethical threats faced by KK in Dibimame Ltd's financial statements.

BL – Nov 2019 – L1 – SB – Q3b Business Ethics and Corporate Governance-

Identifying the factors that influence ethical behavior in a business environment.

BMF – Mar July 2020 – L1 – SB – Q4a – The Role of Professional Accountants in Business and Society

Listing and explaining five threats that can impair the conduct of a professional accountant.

MA – May 2021 – L2 – Q3b – Other aspects of performance measurement

FR – MAY 2021 – L2 – Q5a – Ethical Compliance

Identify and evaluate ethical threats faced by KK in Dibimame Ltd's financial statements.

BL – Nov 2019 – L1 – SB – Q3b Business Ethics and Corporate Governance-

Identifying the factors that influence ethical behavior in a business environment.

BMF – Mar July 2020 – L1 – SB – Q4a – The Role of Professional Accountants in Business and Society

Listing and explaining five threats that can impair the conduct of a professional accountant.

MA – May 2021 – L2 – Q3b – Other aspects of performance measurement

Our offerings

Contact Info

Customer

Get In Touch

NBC Institute

Question Tag: Ethical behavior

Filter by Professional Bodies

Filter by Subject

Filter by Series

Filter by Topics

Filter by Levels

FR – MAY 2021 – L2 – Q5a – Ethical Compliance

Identify and evaluate ethical threats faced by KK in Dibimame Ltd's financial statements.

You're reporting an error for "FR – MAY 2021 – L2 – Q5a – Ethical Compliance"

BL – Nov 2019 – L1 – SB – Q3b Business Ethics and Corporate Governance-

Identifying the factors that influence ethical behavior in a business environment.

You're reporting an error for "BL – Nov 2019 – L1 – SB – Q3b Business Ethics and Corporate Governance-"

BMF – Mar July 2020 – L1 – SB – Q4a – The Role of Professional Accountants in Business and Society

Listing and explaining five threats that can impair the conduct of a professional accountant.

You're reporting an error for "BMF – Mar July 2020 – L1 – SB – Q4a – The Role of Professional Accountants in Business and Society"

MA – May 2021 – L2 – Q3b – Other aspects of performance measurement

You're reporting an error for "MA – May 2021 – L2 – Q3b – Other aspects of performance measurement"

FR – MAY 2021 – L2 – Q5a – Ethical Compliance

Identify and evaluate ethical threats faced by KK in Dibimame Ltd's financial statements.

You're reporting an error for "FR – MAY 2021 – L2 – Q5a – Ethical Compliance"

BL – Nov 2019 – L1 – SB – Q3b Business Ethics and Corporate Governance-

Identifying the factors that influence ethical behavior in a business environment.

You're reporting an error for "BL – Nov 2019 – L1 – SB – Q3b Business Ethics and Corporate Governance-"

BMF – Mar July 2020 – L1 – SB – Q4a – The Role of Professional Accountants in Business and Society

Listing and explaining five threats that can impair the conduct of a professional accountant.

You're reporting an error for "BMF – Mar July 2020 – L1 – SB – Q4a – The Role of Professional Accountants in Business and Society"

MA – May 2021 – L2 – Q3b – Other aspects of performance measurement

You're reporting an error for "MA – May 2021 – L2 – Q3b – Other aspects of performance measurement"

Our offerings

Contact Info

Customer

Get In Touch

NBC Institute

admin