The content is just an excerpt from the complete note for JSS2 Second Term Business Studies Lesson Note – Book-Keeping Ethics. Check below to download the complete DOCUMENT
WEEK: 8
Topic: BOOK-KEEPING ETHICS
CONTENT:
- Meaning of TAP
- Need for TAP
- Attributes of TAP
- Due process
- Problems created by lack of TAP and their solutions.
Sub- Topic 1: THE MEANING OF TAP AND NEED FOR TAP
TAP is an acronym which is well-known in Nigeria. It stands for transparency, accountability and probity. These three summaries the foundation of book keeping ethics and standard.
MEANING OF TRANSPARENCY
Transparency is defined as the quality of being truthful without a hidden agenda. A bookkeeper should be transparent in carrying out his duties either in keeping valuable records or recording of business transaction .
ACCOUNTABILITY
Accountability means to be responsible/ accountable for any action that takes place. A book- keeper should be ready to explain any point which seems to hidden too the Officer involved in book-keeping accountability is very important.
PROBITY
Probity means uprightness and honesty of character. A book keeper should not falsify entries in any of the records. It helps in effective keeping of records.
Attributes of Probity
- To follow laid down guidelines and regulation.
- To reduce corruption: it helps to reduce corruption especially in private sectors.
- Fairness to all: this means that financial dealing of any organization is handled in such a way that no one is cheated.
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