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2.20     Identify five stakeholders of the business community, and give reasons as to why they would have an interest.

Stakeholders past papers could include (but are not limited to) the following:

·   Investors — owners of the entity who need to know whether their investment is sound.

·   Creditors — supply an entity with resources and therefore need to evaluate the entity’s ability to pay their debts.

·   Employees (and Trade Unions) — supply the entity with labour and therefore need to be assured that wages will be paid and that a sound working environment will be provided.

·   Customers — interested in whether a company will keep supplying a product, honour product warranties, deliver a safe and useable product

·   Government — such as the ATO, ASIC, ACCC, APRA have an interest to ensure that regulation is being complied on past papers with.

·   Special Interest Groups — have a focus on ensuring that an entity has considered environmental, social or industrial aspects during their operations. The type of interest will depend on the interest of the group.

·   Community — has an interest in examining whether the entity is contributing positively to the general welfare and economic growth of the local community past papers is available.

2.21     Outline activities that accountants could take to help corporations discharge their social obligations & purchase test banks.

Types of activities include the following.

·   Modifying existing systems to incorporate environmental and social revenues and expenditures.

·   Rethinking the use of some accounting techniques such as investment and performance appraisal as they ignore the environmental and social elements.

·   Having a greater awareness of the future purchase test banks by bringing to account potential contingent liabilities, changing payback periods, costing environmental and social initiatives as well as the cost of not undertaking such initiatives.

·   Expanding and developing new information systems to incorporate environmental and social information, e.g. including information on the whole cycle of a product, not just the production cost.

·   Including in external reporting environmental and social information. The accountant’s role goes beyond providing financial information to satisfy statuary requirements but includes the provision of information that is relevant, reliable, accurate and timely on a number of issues for various stakeholders. It is not enough to leave this to the public relations department.

·   Developing systems that not only capture the environmental and social activities but also the extent to which the activities meet the objectives.

·   Attempting to measure both the cost of environmental and social activities but and also the benefits. At present, costs can generally be captured in the current system; however, techniques to measure the benefits (both increases in social benefits and decreases in social costs) need to be developed purchase test banks.

2.22     Identify and discuss five fundamental principles of the Code of Professional Conduct.

The following are the five fundamental principles for discussion:

Integrity

·  Be straightforward, honest and sincere in your approach to professional work.

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