CBC1501 Semester 1, 2023, Assignment 01: 833488

1 INTRODUCTION The overall topic of the assignment is based on ethical behaviour in an accounting environment and each subheading focuses on a different form of communication in a business environment. It consists of discussions on several presentations, essay writing techniques, memorandum format and the outline of a formal presentation. Selfassessment questions are also covered in addendum A to display understanding and skills development. 2 DISCUSSION ON PRESENTATIONS/VIDEO LESSONS 1.1. It is important to paraphrase and reference the work of others in order to give them acknowledgement for their own ideas. It displays integrity, responsibility and professionalism and allows other academics to consult and authenticate the information from the relevant sources. (Unknown, 2013), (Abdool Satar, 2019) 1.2. An argumentative essay demonstrates the personal opinion or standpoint of the writer. A Descriptive essay, comprehensively describes a particular topic and does not rely on the viewpoint of the writer. (Abdool Satar, 2019) 1.3. The following format differences can be observed between UK and US Block Format when writing business letter: Table 1: UK Block Format versus US Block Format UK Block Format US Block Format Return Address Left Aligned Right Aligned Date 22nd March 2018 March 22, 2018 Formal Salutation Dear Mr Richardson, Dear Mr Richardson: (du Plessis, Dowling, & Steinbert, 2009) 1.4. Closed-ended questions can be answered by simply giving a yes or a no response, whereas open ended questions can be answered comprehensively and with greater detail. (Mntungwa, 2019) 2 | P a g e 1.5 Contractions and non-standard abbreviations may not be understood by all readers and may cause misperception and ambiguity. It may also create an informal and conversational tone, which is contrary to the formal and professional tone required in business writing. 3 ESSAY WRITING Ethical Challenges in the Workplace Most decisions faced by accounting professionals pose ethical challenges. These challenges require a specific response from an individual. This response is based on moral values, which again is grounded in a belief of what is right and what is wrong. When a situation arises that an individual considers unethical, their values force them to act. When acting, decisions have to be made and these decisions need to be guided in the right direction. When an accounting professional faces a situation where their values force them to act, their level of integrity will influence the outcome of that decision. Integrity is a quality that imposes an obligation to do the right thing no matter what the consequences might be. When facing unethical challenges in an accounting environment an individual should be frank and honest. Decision making should be free from personal gain and influence from others. The guidelines and rules of accounting information is standardised to ensure conformity. In other words, manipulation of these guidelines or rules would make the information unreliable, irrelevant an incomprehensible. When providing information, accounting professionals should do so objectively. This requires an independent and unbiased interpretation that is based on factual evidence and not on personal opinion. When preparing financial statements it is imperative that objectivity is used. The information provided in financial statements will influence the decisions made by a company’s stakeholders. The opinions and preferences of a company should not manipulate the result in financial statement. The judgement and advice accounting professionals provide influences the decisions of others. Outdated education and professional incompetence often give rise to ethical 3 | P a g e challenges in the work place. Professional competence needs to be maintained at a structured level to ensure that sound judgement and advice is provided. Continuous training and development of technical skills is required to ensure that professional competence is maintained. Accounting professionals should regularly attend training workshops and seminars to improve technical skills and development. Accounting professionals are exposed to very sensitive information on a daily basis, which inflicts on them a great deal of responsibility. Even if it is not clearly stated, confidentially is expected when dealing with financial information. Confidentiality poses a countless ethical challenges in an accounting environment and should be addressed with extreme caution. The most common ethical challenge faced with regard to confidentiality, is conflict of interest. Companies often delivery multiple services to the same client. Even though strict guidelines are provided to avoid possible conflicts, the method in which they are resolved is a matter of professional interpretation. Interpretation is always vulnerable to inaccuracy, therefore it is important to maintain confidentiality. In order to avoid actions that would negatively affect the reputation of the accounting profession, accounting professional have an obligation to comply with the rules and regulations governed by the accounting bodies. Accounting professionals deliver one of the most important services in a business environment. In order to uphold the trust and respect of clients, accounting professionals must provide an effective and high quality service. Ethical challenges form an integral part of the accounting profession and accounting professionals are respected for their honesty, integrity and competence. Ethical behaviour is the foundation on which accounting principles are built and from which these challenges should be addressed. Accounting professionals have an obligation to act ethically responsible. Ethics is not a set of legal rules. It is a state of mind. A way of life. (Solano, 2018) (Moosa, 2015) (Half, 2018) (Lamprecht, 2016) (Small, Smidt, & Moola-Yasseen, 2017) (What is the Objectivity Principle?, n