Professional ethics for accountants
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ethics in the exam
THIS SECTION OF THE LEARNING MODULE CONTAINS information about how ethical issues are likely to be examined in acct6001 and gives some tips on how to prepare for ethics questions in the exam.
Ethical issues will be examined in the final exam for ACCT6001 in the following ways:
The essay question may be a question related solely to the concept of ethics, OR may require you to synthesize information from other topics covered during the semester and consider the ethical issue that can arise for particular accounting transactions in practice.
Following are two practice exam style questions relating to ethical issues:
'The fundamental duty of accountants is to clients or employers, subject only to the public interest.' Discuss.
'Strong ethical values are essential for professional accountants as there is significant scope within accounting standards to manipulate financial statements if accountants act unethically'. Discuss.
- there will be a number of multiple choice questions in Part A of the exam; and
- there will be an essay question in Part B of the exam.
The essay question may be a question related solely to the concept of ethics, OR may require you to synthesize information from other topics covered during the semester and consider the ethical issue that can arise for particular accounting transactions in practice.
Following are two practice exam style questions relating to ethical issues:
'The fundamental duty of accountants is to clients or employers, subject only to the public interest.' Discuss.
'Strong ethical values are essential for professional accountants as there is significant scope within accounting standards to manipulate financial statements if accountants act unethically'. Discuss.
The following activity will give you practice in identifying relevant concepts to be covered in an essay relating to ethics. The activity requires you to use an online mind mapping tool called bubbl.us. If you have not used bubbl.us before you can sign up for a free trial at the link provided in the activity below.
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Activity 7:
Using bubbl.us create a mind map of an appropriate response to ONE of the above questions. Note: You are not required to write an essay - simply to create a mind map on the concepts to be covered in the essay. |
You have now worked through all sections of the learning module. Additional (optional) resources and references can be found under the "Additional resources" tab.
Make sure you bring your notes to activities 2, 3 and 7 to class in week 13.
Make sure you bring your notes to activities 2, 3 and 7 to class in week 13.
Doing the right thing doesn't always lead to success, but doing the wrong thing almost always leads to failure.