code of ethics

Created by: Trisha Holden
Created on: 13-04-13 14:54

what are the 5 priciples of the code of ethics

Integrity, Objectivity, Professional competence, Confidentiality, Professionsal behaviour

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What are the 6 steps for dealing with ethical dilemmas

Identify and understand the facts, Identify the ethical issues, Identify which fundamental principles are threatened, Consider teh established internal procedures, evaulate alternative courses of action, choose an appropriate course of action.

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How do you work out an operating profit margin ratio

Operating profit/Sales x 100%

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How do you work out what the capital employed is

Total assets - current liabilities

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What six columns are used for the statement of equity

Ordinary share capital, Preference share capital, Share premium, Revaluation reserve, Retained earnings

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Name the three activities used for cash flow statements

Operating activities, investing activities, financing activities

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Name the 5 ways under UK law when an agency relationship can arise

By express agreement, by implied agreement, by necessity, by ratification, by estoppel

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Name the 2 ways an agency agreement can be terminated

By conscious act/decision of the parties, by operation of law.

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What is meant by a true and fair view

True - the financial information is factual, fair - the financial information is not subject to discrimination or bias

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What are the 6 steps for dealing with ethical dilemmas

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Card 3

Front

How do you work out an operating profit margin ratio

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Card 4

Front

How do you work out what the capital employed is

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Card 5

Front

What six columns are used for the statement of equity

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code of ethics