This item of assessment covers the following learning outcomes. For the full list of learning outcomes for the module, please refer to the Module Study Guide.
• Understand the purpose, types and organisational structure of businesses and how they interact with key stakeholders and the external environment
• Understand organisations systems in communication, reporting and assuring financial information within corporate setting
• Recognise professional ethics in accounting in relation to business
• Understand the role of professional and regulatory bodies in promoting accounting standards and principles of law and regulation governing Accounting and Audit
• Learning to Learn (C1), Communication (C2), Group work (C3), Self-management (C4) and Problem solving (C5)
In this assessment, you are required to submit a reflective report of 2000 words (excluding all the references), which must be entirely your own work. You will need to reflect upon your learning.
This will require reflective and creative thinking in building your report. You must ensure that your work contains reference to appropriate academic literature and theories and produces reflection on your own learning and development.
Task 1:
Directors manage the company on behalf of shareholders to achieve financial and business performance to maximise the wealth of the shareholder. They always feel that the company’s financial interest could conflict with the public interest and accounting ethics. In their view, the financial interest of the company is more important than anything else.
Discuss the above view of the directors regarding the fact that public interest and codes of ethics are irrelevant and unimportant. Your discussion should include an example of a company that have liquidated due to ethical issues.
Task 2:
Explain key areas in which an organisation is affected by government legislation and professional body regulation of business. The key areas will include, for example, health and safety at work and data protection, etc. identify at least two key areas which should be discussed in your work.
Task 3:
Discuss stakeholder analysis of a selected industry or company of your choice using the stakeholder analytical tool.
