What are three components of Triple bottom line reporting?
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- What are three components of Triple bottom line reporting?
- How does financial statements help employees in decision making?
- Write 3 characteristics of an unethical person according to your understanding
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- Mr. Bader is leaving the accounting practice to become the Finance Director of a client company. The ethical dilemma he is most likely to face would be a. Objectivity b. Integrity c. Professional Behavior d. ConfidentialitManagement accounting provides economic and financial information for external users such as shareholders, creditors and banks. Select one: True False Question 2 Not yet answered Question text Financial accounting provides information for managers and other internal users. Select one: True FalseA)Differentiate between traditional reporting and Integrated reporting. B) Evaluate earnings management and identify TWO (2) techniques use in earnings management. C) Discuss what are the factors that can influence managers to practice unethical behaviour such as fraud.
- Identify and explain as an example at least 3 scenarios (related with ethics in management accounting only) where Credibility is not followed so that staff may have a better understanding of these guidelines?Which of the following is the most accurate statement regarding ethics as applied to decision making in accounting?a. Ethics involves making difficult choices under pressure and should be kept in mind inmaking every decision, including those involving accounting.b. Ethics has no place in accounting because accounting deals purely with numbers.c. It is impossible to learn ethical decision making because it is just something you decideto do or not to do.d. Ethics is becoming less and less important as a field of study in business.Interpretation of Account is the Select one: a. To know the causes for the prevailing performance of business b. All of the correct answer c. To know financial strengths and weaknesses of a business d. Art and science of translating the figures Government agency gives a CPA certificate to an accountant after he passes a series of rigorous examinations administered by the Board of Accountancy (BOA). Select one: a. School Registrar b. Civil Service Commission c. BIR d. { e. PRC Which of the following is a mechanical aspect of accounting? Select one: a. Preparation of a financial budget b. Designing the accounting system c. Analyzing the transactions preparatory to the recording process. d. Reviewing the effectiveness of the internal control procedures
- Justine is an accountant in the accounting department of Modern Industries, Inc. Justine has just discovered evidence that some of the corporation's marketing managers have been wrongfully inflating their expense reports in order to obtain higher reimbursements from the firm. According to the understanding and acceptance of the basic principles and concepts of ethical conduct, what should Justine do upon discovering this evidence? a. Notify the marketing managers involved. b. Notify the controller. c. Ignore the evidence because she is not part of the Marketing Department. d. Notify the president of the corporation.Identify to what ethical theories these quotations best relate. Explain your answers in 3 to 5 simplesentences: 2. “A distinguishing mark of the accountancy profession is its acceptance of the responsibility to act in thepublic interest. Therefore, a professional accountant’s responsibility is not exclusively to satisfy the needs ofan individual client or employer.” IFAC, Code of Ethics for Professional AccountantsFinancial accounting provides information for managers and other internal users. Select one: True False
- 20)Which of the following is the best definition of an internal user of accounting information? A) Creditors, such as banks, that use accounting information to evaluate the risk of lending money B) Investors who use accounting information to decide whether to buy or sell stock C) Managers who use accounting information to plan, organize, and run a business D) Labor unions who use accounting information to examine the ability of the company to pay increased wages and benefitsFinancial statements should reflect a true and fair view of the business. what is meant by this statement by explaining thequalitative characteristics of financial statements? “True” of “False”:(5)Q.1.3.1 Management accountants use IFRS to prepare financial statements Q.1.3.2 One of the essential functions of management is controlling Q.1.3.3 The general ledger is a table used to summarise similar transactionsso as to facilitate fewer postings into the bookkeeping systemQ.1.3.4 According to the business entity rule, the books of account of abusiness may reflect the personal affairs or wealth of the owneroutside of the businessQ.1.3.5 The formal bookkeeping system is always done manually by theowner of the business1. What are interesting facts/ fun facts about management accounting practices? 2. Explain one example management accounting dishonest practices that talked a around the whole?
