JSS2 Second Term Business Studies Lesson Note – Book-Keeping Ethics

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WEEK: 8

Topic: BOOK-KEEPING ETHICS

CONTENT:

1. Meaning of TAP
2. Need for TAP
3. Attributes of TAP
4. Due process
5. 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

1. To follow laid down guidelines and regulation.
2. To reduce corruption: it helps to reduce corruption especially in private sectors.
3. 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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