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There are different models of relationship between a professional accountant and his/her clients. In the context of the above:
a. Explain the different models of relationship between a professional accountant and his/her clients. (16 Marks)
b. Which of the models in (a) above would you recommend, and which do you consider to be the least recommended? (Provide justification for your choices) (4 Marks)
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Mr John, a professional accountant, is the Chief Executive Officer of a company quoted on the Nigerian Stock Exchange. He also owns about 20% of the company’s shares worth hundreds of millions of Naira. Due to several factors, the company began performing poorly, leading to an unpublished financial report indicating a huge loss. In anticipation of a slide in the company’s share price, Mr. John instructed his stockbroker to sell half of his shares for potential repurchase once the price drops after the financial statements are released. He profited substantially from this transaction.
Required:
a. Analyse the action of Mr. John using:
i. The Model Code (3 Marks)
ii. Critical Theory (3 Marks)
iii. Moral Development of Accountants (4 Marks)
b. Advise Mr. John on the fundamental ethical principles which professional accountants are expected to comply with. (10 Marks)
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a. Agency problems and conflicts are common in all organisations.
Required:
Explain the concept of agency problems and discuss FIVE types of agency conflicts that might exist in an organisation. (8 Marks)
b. Tucker‟s Five Question Model can be employed in training new professional accountants in ethics.
Required:
Explain the issues covered by the Tucker‟s Five Question Model. (7 Marks)
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Using Kohlberg’s stages of moral development, identify and explain the reasons why individuals make their decisions when faced with moral dilemmas.
(a) Identify and explain the reasons why individuals make their decisions when faced with a moral dilemma using Kohlberg’s stages of moral development. (12 Marks)
(b) Explain the criticisms of Kohlberg’s stages of moral development. (3 Marks)
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Creative and critical thinking are essential skills that chartered accountants should possess for optimal performance.
(a) Differentiate between creative and critical thinking. (4 Marks)
(b) Explain the modes through which creative thinking is expressed. (8 Marks)
(c) Explain how the creative thinking of employees benefits their employers. (3 Marks)
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Richard and his wife, Rachael, have just retired as top-level managers from one of the biggest oil companies in the country. They have earned substantial personal wealth and have ample investments in several blue-chip companies. Rachael, a food technologist passionate about healthy living, convinced Richard to start a company to produce organic drinks and foods from only natural ingredients. She also suggested that the company adopt environmentally friendly manufacturing processes and consider the wellbeing of all employees and other stakeholders.
The primary reason for establishing the company is to fulfill a passion, build a sustainable, socially impactful business, and not aggressively pursue profit. Hence, both Richard and Rachael are happy to just break even initially and later record minimal profits.
As an expert in business ethics, you are required to:
(a) Identify the alternative ethical stances available to Richard and Rachael and the ones implied in the scenario. (4 Marks)
(b) Discuss Gray, Owen, and Adams’s classification of groups of people and their views of the relationship between business organizations and society. (14 Marks)
(c) Which of the classifications in (b) above is relevant to Richard and Rachael? (2 Marks)
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Kalu, a competent consultant and accountant, works in Bosun and Company Limited. The company realized that almost all of its newly employed entry-level staff are deficient in business and professional ethics. Consequently, the Human Resources Manager recommended to the CEO that a training program on business and professional ethics should be organized. Kalu is nominated as a resource person to speak at the training program.
Required:
a. How should Kalu explain the nature and importance of business ethics and professional ethics? (6 Marks)
b. Advise Kalu on how he should analyze Kohlberg’s theory of moral development in an attempt to explain to the trainee participants how people generally develop a sense of morality both in personal and professional life. (10 Marks)
c. Discuss any TWO of the criticisms of Kohlberg’s theory. (4 Marks)
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Find Related Questions by Tags, levels, etc.
Find Related Questions by Tags, levels, etc.
Find Related Questions by Tags, levels, etc.
There are different models of relationship between a professional accountant and his/her clients. In the context of the above:
a. Explain the different models of relationship between a professional accountant and his/her clients. (16 Marks)
b. Which of the models in (a) above would you recommend, and which do you consider to be the least recommended? (Provide justification for your choices) (4 Marks)
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Mr John, a professional accountant, is the Chief Executive Officer of a company quoted on the Nigerian Stock Exchange. He also owns about 20% of the company’s shares worth hundreds of millions of Naira. Due to several factors, the company began performing poorly, leading to an unpublished financial report indicating a huge loss. In anticipation of a slide in the company’s share price, Mr. John instructed his stockbroker to sell half of his shares for potential repurchase once the price drops after the financial statements are released. He profited substantially from this transaction.
Required:
a. Analyse the action of Mr. John using:
i. The Model Code (3 Marks)
ii. Critical Theory (3 Marks)
iii. Moral Development of Accountants (4 Marks)
b. Advise Mr. John on the fundamental ethical principles which professional accountants are expected to comply with. (10 Marks)
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a. Agency problems and conflicts are common in all organisations.
Required:
Explain the concept of agency problems and discuss FIVE types of agency conflicts that might exist in an organisation. (8 Marks)
b. Tucker‟s Five Question Model can be employed in training new professional accountants in ethics.
Required:
Explain the issues covered by the Tucker‟s Five Question Model. (7 Marks)
Find Related Questions by Tags, levels, etc.
Using Kohlberg’s stages of moral development, identify and explain the reasons why individuals make their decisions when faced with moral dilemmas.
(a) Identify and explain the reasons why individuals make their decisions when faced with a moral dilemma using Kohlberg’s stages of moral development. (12 Marks)
(b) Explain the criticisms of Kohlberg’s stages of moral development. (3 Marks)
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Creative and critical thinking are essential skills that chartered accountants should possess for optimal performance.
(a) Differentiate between creative and critical thinking. (4 Marks)
(b) Explain the modes through which creative thinking is expressed. (8 Marks)
(c) Explain how the creative thinking of employees benefits their employers. (3 Marks)
Find Related Questions by Tags, levels, etc.
Richard and his wife, Rachael, have just retired as top-level managers from one of the biggest oil companies in the country. They have earned substantial personal wealth and have ample investments in several blue-chip companies. Rachael, a food technologist passionate about healthy living, convinced Richard to start a company to produce organic drinks and foods from only natural ingredients. She also suggested that the company adopt environmentally friendly manufacturing processes and consider the wellbeing of all employees and other stakeholders.
The primary reason for establishing the company is to fulfill a passion, build a sustainable, socially impactful business, and not aggressively pursue profit. Hence, both Richard and Rachael are happy to just break even initially and later record minimal profits.
As an expert in business ethics, you are required to:
(a) Identify the alternative ethical stances available to Richard and Rachael and the ones implied in the scenario. (4 Marks)
(b) Discuss Gray, Owen, and Adams’s classification of groups of people and their views of the relationship between business organizations and society. (14 Marks)
(c) Which of the classifications in (b) above is relevant to Richard and Rachael? (2 Marks)
Find Related Questions by Tags, levels, etc.
Kalu, a competent consultant and accountant, works in Bosun and Company Limited. The company realized that almost all of its newly employed entry-level staff are deficient in business and professional ethics. Consequently, the Human Resources Manager recommended to the CEO that a training program on business and professional ethics should be organized. Kalu is nominated as a resource person to speak at the training program.
Required:
a. How should Kalu explain the nature and importance of business ethics and professional ethics? (6 Marks)
b. Advise Kalu on how he should analyze Kohlberg’s theory of moral development in an attempt to explain to the trainee participants how people generally develop a sense of morality both in personal and professional life. (10 Marks)
c. Discuss any TWO of the criticisms of Kohlberg’s theory. (4 Marks)
Find Related Questions by Tags, levels, etc.
Find Related Questions by Tags, levels, etc.
Find Related Questions by Tags, levels, etc.
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