Ethics (Grade 11 NSC Matric Accounting): Flashcards
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Practise the cards
10 cards from this deck
Definition of ethics
Definition of ethics
The proper way of doing things in business and commerce
Ethics as moral behaviour
Ethics as moral behaviour
Knowing right from wrong and acting accordingly
Key benefit of ethical behaviour
Key benefit of ethical behaviour
Builds trust with customers, suppliers, and colleagues
Bookkeeper using business cash temporarily
Bookkeeper using business cash temporarily
Unethical - cash belongs to business, it's theft even if repaid
Owner withdrawing funds for personal use
Owner withdrawing funds for personal use
Ethical if recorded properly as drawings
Manager selling damaged goods for charity
Manager selling damaged goods for charity
Unethical - no proper authorisation to sell or donate
Employee using company equipment without permission
Employee using company equipment without permission
Unethical - using without authorisation, abusing trust
Sales assistant honest about shop-soiled goods
Sales assistant honest about shop-soiled goods
Ethical - honest, transparent, builds trust with customers
Financial consequences of unethical behaviour
Financial consequences of unethical behaviour
Direct losses, lost sales, legal costs, insurance problems
Reputational damage from unethical behaviour
Reputational damage from unethical behaviour
Loss of trust, negative publicity, reduced opportunities