: Professionalism & ethics in accounting and history of accounting.

Task

Content assessed: Professionalism & ethics in accounting and history of accounting.
Key generic skills: Research, critical thinking and written communication.

 

Question 1 (10 marks – 1,000 words)

Joey is an accountant for a medium sized manufacturer – Tube Ltd. Joey has been an accountant at Tube for around 10 years and feels that his career is progressing quite well. Joey recently got married and has just purchased a home – leveraged with a significant mortgage.

In April 2017 the CEO of Tube, Mary, returned from a meeting with Tube’s bankers. Mary called Joey into her office to discuss the results of the negotiations. Mary told Joey that, as things stand, Tube requires a significant injection of capital in order to modernise its plant and equipment. Tube has been promised new orders if it can produce goods to an international standard, but the existing machinery is incapable of manufacturing the required level of quality. Mary says that the bank is sympathetic, but that current lending policies require borrowers to demonstrate adequate current and projected cash flows, as well as a level of profitability sufficient to indicate a capacity to make repayments from an early date. Mary tells Joey that, due to some prolonged industrial issues with the labour union, the business has not been performing at a level which meets even its ‘unimproved’ potential and that the current levels of performance of Tube simply do not satisfy the bank’s criteria.

Mary concludes the meeting with Joey by mentioning that she has told the bank that the company is in excellent shape, that she believes that its financial results will meet the criteria and that she will ask the accountants (Joey) to deliver a financial report to the bank at the beginning of the next week. Mary also tells Joey that while it is up to him to decide upon the contents of that report, failure to invest and gain the promised new orders is almost certain to lead to major retrenchments of personnel and possible insolvency for Tube.

Required:

1. a) What are the ethical issues facing Joey?
2. b) Define ethical egoism. Advise Joey of an appropriate course of action based on ethical egoism.
3. c) Would your answer to b) be different if you based your advice on utilitarianism? Justify your position.
4. d) Advise Joey of an appropriate course of action from a deontological ethical perspective. Outline why it is based on deontological ethics.
5. e) Which ethical theory do you think leads to the most appropriate course of action for Joey? Justify your position.

 

Question 2 (10 marks – 1,000 words)

1. a) Outline the major changes to both accounting regulation and practice which have occurred since the 1800’s.
2. b) The history of accounting can be seen as a pattern of continued evolution and growth for the purpose of meeting changing needs of users. Critically evaluate this statement. Your response should consider both changes to accounting practice and regulation as well as any alternative perspectives regarding the history of accounting.

 

Rationale

This assignment has been designed to assess your ability to:

• be able to explain the role of theory in the nature and development of accounting as a discipline (SLO1);
• be able to evaluate ethical implications of theory in relation to current practice (SLO3);
• be able to compare and contrast the diverse perspectives which can be used to explain the development of accounting theory including the impact of social change on accounting and vice versa (SLO4);
• be able to engage in the accounting discourse including critical analysis of the various theoretical approaches applied within the accounting discipline (SLO6).

 

Marking criteria

Question 1

Criteria	High Distinction	Distinction	Credit	Pass
Main ethical issues in the scenario identified and discussed. (SLO3) (1 mark)	All the key ethical issues within the scenario are identified. Thorough discussion on why these issues should be a concern to Joey.	Clear explanation of all or most of the ethical issues within the scenario. Detailed discussion on why Joey should be concerned by these issues.	Appropriate explanation of most of the ethical issues within the scenario. Some discussion on why these issues should be a concern to Joey.	Limited but appropriate explanation of some of the ethical issues within the scenario. Limited discussion on why these issues should be a concern to Joey.
Definition of ethical egoism and decisions for scenario based on ethical egoism determined and justified. (SLO3) (1.5 marks)	Ethical egoism been comprehensively defined. Appropriate course of action has been thoroughly discussed with detailed articulation of why the decision is based on ethical egoism.	Ethical Egoism has been clearly defined. Appropriate course of action has been identified with an in-depth discussion on why the decision is based on egoism.	Ethical Egoism defined satisfactorily. Appropriate course of action has been discussed with some debate on why it is based on egoism.	Response provides limited definition of the ethical egoism. Questionable course of action has been identified with limited discussion on why it is based on egoism.
Comparison of response to b) if ‘utilitarianism’ is pursued (SLO3) (1 mark)	An appropriate decision has been thoroughly discussed with detailed articulation of how the decision based on utilitarianism compares with a decision based on egoism.	An appropriate decision has been identified and clearly discussed with an in-depth discussion of how the decision based on utilitarianism compares with the decision based on egoism.	An appropriate decision has been discussed with some debate as to how a decision based on utilitarianism compares with the decision based on egoism.	A questionable decision has been identified with limited discussion as to how the decision based on utilitarianism compares with the decision based on egoism.
Decision based on deontological ethics has been determined and justified. (SLO3) (1 marks)	An appropriate decision has been thoroughly discussed with detailed articulation of why the decision is based on deontological ethics.	An appropriate decision has been identified and clearly discussed with an in-depth discussion on why the decision is based on deontological ethics.	An appropriate decision has been discussed with some debate on why it is based on deontological ethics.	A questionable decision has been identified with limited discussion on why the decision is based on deontological ethics.
Justification as to which ethical theory provides most appropriate course of action for Joey (SLO3, 6) (1.5 marks)	Choice of theory is appropriate and comprehensively justified in a response which provides a deep and clear critical evaluation of the ethical theories.	Choice of theory is appropriate and clearly justified in a response which provides a sound critical evaluation of the ethical theories.	Choice of theory is appropriate and adequately justified in a response which provides some evidence of critical evaluation of the ethical theories.	Questionable choice of theory only partially justified. Response demonstrates limited ability to critically evaluate ethical theories.
Critical Capacity: Has the student accepted or critically evaluated the source material? (SLO3, 6) (2 marks)	Response provides a deep and critical analysis of the process involved in making ethical decisions when applying normative ethical theories, while providing evidence of independent and original thought.	Response provides a critical analysis of the varied decisions that may be deemed ethical based on each of the ethical theories, and this is supported by relevant readings in the area.	Response provides some level of critical analysis of the decision-making process when applying the ethical theories to a scenario, but mainly describes the theories and suggests only a few possible decisions for Joey.	Response limited to basic re articulation of the normative ethical theories with minimal evidence of independent critical insight.
Academic Writing: Written expression and use of referencing. (2 marks)	Accurate use of syntax, spelling and punctuation; correctly refers to an extensive variety of sources to support arguments, including prescribed texts and a broad range of additional readings; reference list of an extensive range of resources used, correctly formatted using APA style.	Accurate use of syntax, spelling and punctuation; succinct and effective use of vocabulary; correctly refers to a broad range of sources to support arguments, including prescribed text and a variety of further readings. Reference lists contains a broad range of relevant resources used, correctly formatted using APA style.	Accurate use of syntax, vocabulary, spelling and punctuation; correctly refers to more than the minimum requirement of sources to support arguments, including prescribed texts and recommended readings. Reference list formatted in APA style, with few or no errors.	Mostly accurate syntax, spelling and punctuation; correctly refers to minimum number of sources to support arguments, including prescribed texts. Reference list used, formatted in APA style, with minor errors.

 

 

Question 2

Criteria	High Distinction	Distinction	Credit	Pass
Outline of the major changes to accounting practice and regulation since 1800’s. (SLO1, 4) (2 marks)	All major changes are identified and the discussion demonstrates a clear understanding of the relevance to accounting over time.	All major changes are identified and some level of discussion of the relevance to accounting over time is provided.	Most major changes are identified and discussed with regard to relevance to accounting.	A basic list of changes is provided with limited or no provision of detail.
Evaluation of statement in the question regarding accounting’s evolution to meet the needs of users. (SLO4, 6) (2 marks)	Comprehensive evaluation of statement in question. Evaluation is thoroughly and appropriately illustrated with historical events outlined in previous section with justification for choice.	Detailed evaluation of statement in question that may miss 1-2 key points. Evaluation is illustrated with historical events outlined in previous section of answer.	Clear evaluation of the statement in question. Evaluation is illustrated with a few historical events outlined in previous section of answer.	Basic evaluation of statement in question. Relatively few historical events used to illustrate the perspective.
Consideration of alternative perspectives accounting history. (SLO4, 6) (2 marks)	Response comprehensively considers and evaluates alternative perspectives of history thoroughly and appropriately and illustrates response with historical events.	Response clearly considers and evaluates alternative perspectives of history and illustrates response with historical events outlined in previous section of answer.	Consideration and evaluation of alternative perspectives of history illustrated with a few historical events outlined in previous section of answer.	Basic consideration and evaluation of alternative perspectives of history. Relatively few historical events used to illustrate the perspective.
Critical Capacity: Does the response critically evaluate the perspectives used to interpret the history of accounting regulation? (SLO1, 4, 6) (2 marks)	Response provides a clear, deep critical analysis of the main perspectives of history that draws on source material as well individual, original thought. Response arrives at a clear and thoroughly justified position as to the veracity of the two perspectives of history.	Response provides a critical analysis of the main perspectives of history that draws on source material. Response arrives at a justified position as to the veracity of the two perspectives of history.	Response provides some analysis of the main perspectives of history that draws on source material. Response provides some justification of position as to the veracity of the two perspectives of history.	Limited evidence of critical analysis of main perspectives of history. Provides limited links to the source material, as opposed to original thoughts.
Academic Writing: Written expression and use of referencing. (2 marks)	Accurate use of syntax, spelling and punctuation; correctly refers to an extensive variety of sources to support arguments, including prescribed texts and a broad range of additional readings; reference list of an extensive range of resources used, correctly formatted using APA style.	Accurate use of syntax, spelling and punctuation; succinct and effective use of vocabulary; correctly refers to a broad range of sources to support arguments, including prescribed text and a variety of further readings. Reference lists a broad range of relevant resources used, correctly formatted using APA style.	Accurate use of syntax, vocabulary, spelling and punctuation; correctly refers to more than the minimum requirement of sources to support arguments, including prescribed texts and recommended readings. Reference list formatted in APA style, with few or no errors.	Mostly accurate syntax, spelling and punctuation; correctly refers to minimum number of sources to support arguments, including prescribed texts. Reference list used, formatted in APA style, with minor errors.

 

Presentation

The following points are a general guide for presenting assessment items.

• Assessment items should be typed.
• Use 1.5 spacing.
• Use a wide left margin. Markers need space to be able to include their comments.
• Use a standard 12pt font such as Times New Roman, Calibri or Arial.
• Left- justify body text.
• Include a separate title page with your name, student number, subject code, assessment number and assessment question. Include class time and tutor’s name if applicable.
• Number your pages (except the cover page).
• Use a header or footer with your name and student number on each page.
• Always keep a copy of your assessments. Both a hard copy and an electronic copy.
• Most importantly, always use your spelling and grammar checker, but remember that this does not pick up all errors. You must still manually and carefully edit your work.

Requirements

For this assessment you are required to use APA referencing to acknowledge the sources that you have used in preparing your assessment. Please refer to the CSU referencing guide http://ift.tt/1MBH9H7.

 

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