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Difference between Ethical, Commercial and Professional Issues

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AAA Exams › Difference between Ethical, Commercial and Professional Issues

  • This topic has 1 reply, 2 voices, and was last updated 7 years ago by MikeLittle.
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  • May 29, 2017 at 9:01 am #388737
    accastudentofoman
    Participant
    • Topics: 9
    • Replies: 26
    • ☆

    When writing answers to questions which asks us to identify and recommend actions to ethical, commercial and professional issues; how do we differentiate between the three? Writing excessively about one area won’t gain marks in another. I looked at the printed answers and the points seem to overlap.

    (Sorry to have kept you waiting for long. Actually most of the tiny questions/doubts vanished away as I practiced more questions and was able to understand and see things in a new light.

    Anyway, a separate thread for the questions would be helpful for other students as well.)

    Thanking you!

    May 29, 2017 at 9:26 am #388743
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23309
    • ☆☆☆☆☆

    Well, it’s good to know that you’re still alive! 🙂

    Ethical, commercial and professional

    Ethical clearly relates to ethics (!) and morals and what is “right”

    Commercial is finance orientated – a matter may make sound commercial sense but could be totally unethical (even illegal!) Drug dealing is a very commercial activity and very rewarding for the dealer (but no-one else) but it cannot be classed as ethical

    Professional relates to our great and glorious profession where our various leaders over the years have helped to shape us as a profession and we, in turn, have helped to shape society into the well balanced, friendly, loving, caring World in which we are privileged to live

    Ethical matters are essentially written in our Ethics Guide but you can include really whatever you like if you consider it “right”

    Commercial is as I have already stated

    Professional relates to those matters that affect us as professionals

    Yes, it can be difficult to avoid overlap (well nigh impossible, I suspect) but if you go through the planning process and note down matters that come into your head and then sit back and try to pigeon hole those matters into the three sub-divisions, you might find that that helps

    What it will certainly do is highlight the fact (if appropriate) that whereas, for example, ethical and commercial have 3 or 4 points each, you could find that you’re sadly lacking in the professional section so spend a minute focussing on that area in your planning time

    OK?

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