With the May exams looming, are you clear on how to apply an ethical framework to the questions posed? Ethical issues are threaded throughout all stages of CIMA exams (below) and you will need to be able to show you would analyse the situation appropriately and respond.

Being guided through the CIMA code of ethics is key and there are a number of resources available to help you think through how to do the right thing.

With P3 resit papers around the corner how comfortable are you with your ethical performance.  Are you going for gold or are you likely to be in the dark side of the grey zone, feeling shame alongside those from recent corporate scandals for not acting in the public interest.

There are lots of resources to help you do the right thing in your exams, and the right thing professionally.

This week’s news headlines are full of Olympics glory.  It is a relief to have front pages celebrating the achievements of the world’s finest athletes, instead of unpicking the latest scandal arising from corporate misdemeanours. 

If we really put the 50 top managers behaviour under the microscope what would we see? Cameron is sticking to his hard line approach, but who is willing to 'cast the first stone?'

In the week we launched the CGMA ethics theme I attended a lecture at St Paul’s Cathedral  given by the eminent professor of government at Harvard University, Michael Sandel on the moral limits of the market.  The “congregation” was at full capacity at nearly 1800.

Follow the trials and tribulations of Tony Scales and his team at Miralux in this new weekly e-drama. Bookmark this blog and catch up with episodes every two weeks.

In this episode, James Turner’s projects come in on budget and win environmental prizes. Surely that should keep the low-carbon campaigners smiling? However, it doesn’t help when James’ opponent happens to be his own sustainability manager, Tallulah. And he’s never sure whose side Cameron, the CFO is on either…

Follow the trials and tribulations of Tony Scales and his team at Miralux in this new weekly e-drama. Bookmark this blog and catch up with episodes each Monday.

Does Tony Scales, the new CEO of the Miralux Corporation, believe his own rhetoric s about ethics, the environment and the company’s hard line against corruption and fraud? Is he sincere or just the master of corporate rhetoric?

The final UN Global Compact meeting of the year focused upon Rio +20 UN conference on sustainable development, scheduled for June 2012.  The day the UK UNGC participants gathered in London, the announcement of the outcome of the Durban climate change meetings was still fresh.  After protracted negotiation a level of agreement was reached.  

There is a real competitive advantage to be gained by companies who set out to build sustainable businesses. That's the message that is coming loud and clear from the top of the corporate food chain.

Are you familiar with the CIMA Code of Ethics? If not, you should be - all CIMA students and members are required to comply with the code, and it comes up in exam questions at all levels.

My colleague Tanya Barman writes an ethics blog - check out her latest post highlighting some important ethical lessons from an unexpected source.

The United National Global Compact (UNGC) meeting in London recently focused on anti-corruption initiatives globally.  In recognition of the overall cost to business, and wider economy and society of corrupt practices, principle ten of the UNGC is: "Businesses should work against corruption in all its forms, including extortion and bribery."  

The 19th century philosopher Kierkergaard’s quote struck me as a challenge for finance  professionals -  linking existentialism and management accounting.   As our members and students are engaged in informing decision making based on the facts at hand, how best can they ensure that companies progress well, ensuring profitability and success whilst mitigating risk and damage in the longer term.  Not only in relation to the firm,  but to society at large, and to themselves personally.

Earlier this week  I corresponded with a veteran of the City (i.e. someone who has survived the downturn) who described himself and his colleagues as gladiators - entering battle every day, enduring existence in a high risk environment – and feeling more bloodied than pre-2008. 

Having been involved in a situation at work where i was required by law and CIMA’s code of conduct to blow the whistle on my employers a number of issues were raised that i didn’t have the answers to.

When Nick Leeson, the Singapore based trader who brought down Barings Bank in 1995, realised the losses he was hiding were hours away from being discovered, he left a simple note on his desk.  And fled.  "I'm sorry" read the note and in a radio show last week, the Reunion, the BBC brought together Nick with his ex-boss for the first time when he apologised face to face.  In the show a former colleague, decribed Nick as "struck by a mixture of greed and fear for a number of yea

Hello!

I have a general question I was hoping to get an answer/advice on.

If a company has old accruals stored on the balance sheet is it ok to release them into the P&L without providing any disclosure in the notes to the accounts?

They obviously need to be released at some stage if bills aren't received for them but if it inflates profit by a considerable margin then what is the accounting protocol?

Thanks

I have a BPP material for C05-FUndamentals of Ethics, Corporate Governance and Business Law : Study Text, Revision Kit, I-pass CD, Passcards , MCQ (ALLl BRAND NEW) and BPP Course Note (40% of chapters have been highlighted with a pencil and some pages-with a yellow highlighter). The market price is £180 (excl. delivery). My asking price is £120 excl. deliver. I work not far from Green Park Tube Station.

Sen me a message if you are interested.

"Global attention on fighting corruption is intensifying" was one of the conclusions at a CIMA seminar at St Paul's cathedral held earlier in April.  The introduction of the UK Bribery Act is part of this "crest of a wave" and the growth of anti-corruption initiatives and focus on ethical business are evident everywhere.  "Call to end corporate corruption" read the headlines in the Malaysian press the day I was presenting