The paper "Leighton’ s Ethics and Ethical Code of Conduct " is a good example of a finance and accounting coursework. Company reputation is of chief importance since; it gives a confident impression of the company and its performance. The financial statement of the business is always prepared on a hypothesis that the business is a going concern (Chalmers, 2009). The corporation is required to publish their yearly report that is in conformity with the generally accepted accounting standards because, the prospective users of the financial statement such as the creditors, shareholders, as well as the investors, would wish to have the summary of the business performance.
Reputation is not disclosed in the financial company’ s statement its value is not determinable. Valuation Reputation as assets cannot be valued or quantified completely since there is no worth that can be ascertained, and thus it cannot be incorporated in the financial statement of the business (Chalmers, 2009). An entities reputation is not included in the financial statement since reputation is a non-monetary item that authenticates not its insertion in the financial statement. The financial statement of a body is always prepared on a going concern postulation and thus the company will go on into a probable future.
However, description and reporting of reputation are not disclosed in the financial statement since it cannot be quantified. Leighton Company ethics and ethical behavior Director’ s Compliance with the ethical code of conduct The directors of the company provide and assurance to the public of the company compliance ethical code of conduct. This disclosure by Leighton limited is a good indication that the company is observing ethical behavior in compliance with the requirements of ethical standards (John Doorley, 2007).
The corporation makes sure that all directors reveal their attention at the occasion of their meeting and are required to keep this revelation up to date and those who have an argument of attention must not in attendance themselves from the board conference. This will help in ensuring that directors perform their duties in the greatest excellent trust as well as putting the needs of the investors a first main concern. In regard, shareholder's disagreement with directors is minimized since; the directors of the company stick to the moral defend that has been in a position by the business.
This is a tough sign that the company adheres to principles and corporate governance values. Enhancing training and induction on new company directors The company appreciates the significance of providing nonstop leadership to its personnel members in order to improve their knowledge of the corporation as well of the business in which the company operates. Throughout the year, the directors were provided with business trips both nearby entailing off-site preparation meeting and worldwide as a branch of the continuing maturity arrangement (Wright, 2006).
persistent training on existing directors ensures that the company’ s directors are completely conscious of the present dealing tendency internationally and skills that must be relevant in the company in ensuring that the business is updated as well as that the company workers and pays for the exact overhaul in ensuring that the investor's wealth maximization is the major priorities.
Chalmers, K. &. (2009). Reputation costs: the impetus for voluntary derivative financial instrument reporting.. In Accounting, Organizations and Society (pp. 95-125.).
Gerald Corey, M. S. (2007). Issues and Ethics in the Helping Professions. Cengage Learning.
John Doorley, H. F. (2007). Reputation Management: The Key to Successful Public Relations and Corporate Communication. Taylor & Francis.
Rachman, M. D. (2009). The methods used to implement an ethical code of conduct and employee attitudes. Journal of Business Ethics, 225-244.
Wright, C. &. (2006). Institutional pressures, corporate reputation, and voluntary codes of conduct: an examination of the Equator Principles. Business and Society Review, 89-117.