Course Profile
Principles of
Financial A
Unit 5:
Societal and Technological Issues in A
Time: 22 hours
Activity 5.1 | Activity 5.2 | Activity 5.3
Unit Description
Students
understand and apply the concept of professional judgement and rules of
professional conduct. Scenario analysis is effective in studying potential
abuses of a
|
Activity |
Time |
Learning Expectations |
Assessment Categories |
Tasks |
|
5.1 |
2 hours |
FAV.03,
FA3.01 CGE1c,
1d, 3f |
Knowledge/
Understanding |
Legal,
ethical and environmental issues and their impact on methods and practices in
a |
|
5.2 |
3 hours |
FAV.03,
ACV.03, FA3.01, AC3.03 CGE1c,
1d, 2c, 3d, 3e, 4a, 4e, 5a, 5e, 5h, 7a, 7j |
Knowledge/
Understanding |
Challenges
a |
|
5.3 |
4 hours |
FAV.03,
FA3.03, FA3.04 CGE2e,
3b |
Knowledge/
Understanding Application |
An
explanation of how to use current technology (Internet browsers, presentation
software) to gather, classify, process, and present data and summaries of a |
|
5.4 |
13 hours |
FAV.03,
FA3.01, FA3.03, FA3.04 CGE1c,
3b, 3d, 4f, 4g, 5e, 7b |
Thinking/
Inquiry |
Using
websites to a |
Time: 2 hours
Students
review the Christian Decision-Making Model outlined in BAF3M. In addition, the
ICAO member’s Code of Conduct and its impact on a
CGE1c -
actively reflect on God’s Word as communicated through the Hebrew and Christian
scriptures;
CGE1d -
develop attitudes and values founded on Catholic social teaching and act to
promote social responsibility, human solidarity, and the common good;
CGE3f -
examine, evaluate, and apply knowledge of interdependent systems.
Overall
Expectations
FAV.03 -
demonstrate an understanding of contemporary issues in a
Specific
Expectations
FA3.01 -
describe the impact of ethical and environmental issues on methods and
practices in a
·
In
Grade 11, students were introduced to the Christian Ethical Decision-Making
Model.
·
In
Grade 11, the ICAO member’s Code of Conduct synopsis was presented.
·
The
Christian Ethical Decision-Making Model can be presented in overhead format
(Appendix 5.1.1).
·
Apply
to the ICAO for Associate Member Status to obtain copies of CheckMark magazine.
·
Value
influences exercise can be performed using think/pair/share.
1. Review the Christian Ethical Decision-Making
Model.
2. Show examples of adjectives that describe ethical
behaviour (see Appendix 5.1.2 – What is Ethical Behaviour?). In groups,
students develop their ideas of the adjectives and their application to ethics.
3. Write the term ethics on the board. Students write down what the term means to
them.
4. Have students work in groups/pairs to think
of people and factors that influence their values, e.g., parents, teachers,
employers, teams, sports, television, friends, and celebrities.
5. Using recent copies of CheckMark newspapers, outline the consequences for a
·
Students
prepare a summary of illegal and unethical practices together with the related
consequences for formative assessment.
·
Provide
opportunities for peer mentoring.
BAF3M Catholic Course Profile
ICAO –
www.icao.on.ca (link to CheckMark
magazine)
Time: 3 hours
Students
apply the Christian Ethical Decision-Making Model process to sample scenarios.
Students should consider both personal and professional influences in their
evaluations.
CGE1c -
actively reflect on God’s Word as communicated through the Hebrew and Christian
scriptures;
CGE1d -
develop attitudes and values founded on Catholic social teaching and act to
promote social responsibility, human solidarity, and the common good;
CGE2c -
present information and ideas clearly and honestly and with sensitivity to
others;
CGE3d -
make decisions in light of gospel values with an informed moral conscience;
CGE3e -
adopt a holistic approach to life by integrating learning from various subject
areas and experiences;
CGE4a -
demonstrate a confident and positive sense of self and respect for the dignity
and welfare of others;
CGE4e -
set appropriate goals and priorities in school, work, and personal life;
CGE5a -
work effectively as an interdependent team member;
CGE5e -
respect the rights, responsibilities, and contributions of self and others;
CGE5h -
apply skills for employability, self-employment, and entrepreneurship relative
to Christian vocation;
CGE7a -
act morally and legally as a person formed in Catholic traditions;
CGE7j -
contribute to the common good.
Overall
Expectations
ACV.01 -
demonstrate an understanding of a
ACV.03 -
explain the need for internal financial controls in a business;
FAV.03 -
demonstrate an understanding of contemporary issues in a
Specific
Expectations
AC1.01 -
explain the Generally A
AC3.03 -
evaluate the effects of implementing a control system in small and medium sized
businesses;
FA3.01 -
describe the impact of ethical and environmental issues on methods and
practices on a
·
In
Grade 11, students were introduced to the Christian Ethical Decision-Making
Model.
·
In
Grade 11, the ICAO member’s Code of Conduct synopsis was presented.
·
Choose
a scenario from Appendix 5.2.1 – Ethical Scenarios for whole-class analysis. An
overhead format is suggested.
·
Photocopy
scenario(s) for group analysis. Each scenario is followed by the relevant
issues in brackets. Be sure to erase these issues.
·
Photocopy
scenario(s) for independent analysis.
1. The class analyses a scenario using the
Christian Ethical Decision-Making Model and generally a
2. Discuss the challenges a
3. In groups of two or three, students analyse
different scenarios using the Christian Ethical Decision-Making Model and
GAAPs.
4. For assessment purposes, students
independently analyse a scenario to assess legal and ethical issues and their
impact on a
·
Individual
assessment of a scenario analysis for summative evaluation.
·
Verbal
feedback for the group scenario analysis (formative).
·
Use
teacher-selected groups to ensure a mixture of abilities/perspectives.
·
Read
notes, directions, and instructions out loud.
·
Summarize
visual information orally.
·
Record
scenarios on tape.
·
Give
instructions both visually and orally.
·
Allow
students to choose from a variety of response methods (oral, written,
demonstration, pictorial).
·
Reduce
the number of scenarios.
BAF3M
Catholic Course Profile
Berney,
K. “Finding the Ethical Edge.” Social
Issues Resources Series, Volume 3, Article 10
(August 1987): pp. 18+.
Covey,
Steven. The Seven Habits of Highly
Effective People.
Eisele,
S. “Exporting Our Ethics.” Social Issues
Resource Series, Volume 4, Article 38 (October 1993): pp. 1C+.
Ethics,
Business, and Gospel Infusion –
www.smcdsb.edu.on.ca/secondary/business/infusion.html
Singer,
A. “The Ultimate Ethics Test.” Social
Issues Resources Series, Volume 4, Article 5 (March 1992): pp.18-22.
Thompson,
Roger. “Are Business Ethics Slipping?” Social
Issues Resources Series, Volume 3, Article 43 (January 1989): p. 3.
Vise,
David and Steve Coll. “Wall Street’s Long Year of Turmoil.” Social Issues Resources Series, Volume
3, Article 7 (May 1987): pp. A1+.
Voggel,
D. “Is Business Obsessed With Ethics.” Social
Issues Resource Series, Volume 4, Article 40 (December 1993): pp. 30-33.
Time: 4 hours
Students
are introduced to their school board’s Responsible Internet Use guideline.
Internet browsers and presentation software are introduced and explored in
preparation for Activity 5.4.
CGE2e -
use and integrate the Catholic faith tradition, in the critical analysis of the
arts, media, technology, and information systems to enhance the quality of
life;
CGE3b -
create, adapt, and evaluate new ideas in light of the common good.
Overall
Expectations
FAV.03 -
demonstrate an understanding of contemporary issues in a
Specific
Expectations
FA3.03 -
demonstrate how to use current technology to gather, classify, and process
financial data;
FA3.04 -
demonstrate how to use current technology to present summaries of a
·
Students
completed the school board’s Responsible Internet Use form and are given a user
name and password. Students have experience using the Internet.
·
Book
a
·
The
teacher should be competent with Internet browsers and presentation software.
·
To
enhance student learning, use a LCD projector with a computer for demonstration
purposes. See Appendix 5.3.3 for instructions on connecting a LCD projector to
a computer.
1. Teach or review Internet use with students.
Using an Internet browser, students search for ethical mutual funds using
various search engines, e.g., Altavista, Yahoo, Canoe, Google, etc. Provide a
list of websites for students to explore. (See Appendix 5.3.1 – Social
Investing Websites.)
2. Using a sample multi-media presentation,
outline the relevant features of the presentation software package (e.g., Corel Presentations, MS PowerPoint). Students use a tutorial to
familiarize themselves with the software.
Formative:
·
Observation
of student abilities to ensure basic skills in the preparation of a multi-media
presentation. (See Appendix 5.3.2 – Understanding Presentation Software
Checklist.)
·
Verbal
feedback and assistance to ensure adequate skills for preparing the multi-media
presentation in Activity 5.4
·
Pair
students with one who has strong computer skills.
·
Provide
specialized computer software, if available (voice-activated, etc.).
Corel Presentations
Microsoft
PowerPoint, Internet Explorer
Netscape Navigator/Communicator
Time: 13 hours
Using
websites to a
Activity 5.1, as well as discussions originating from Activity 5.2.
CGE1c -
actively reflect on God’s Word as communicated through the Hebrew and Christian
scriptures;
CGE3b -
create, adapt, and evaluate new ideas in light of the common good;
CGE3d -
make decisions in light of gospel values in light of the common good;
CGE4f -
apply effective communication, decision-making, problem-solving, time, and
resource management skills;
CGE4g -
examine and reflect on one’s personal values, abilities, and aspirations
influencing life’s choices and opportunities;
CGE5e -
respect the rights, responsibilities, and contributions of self and others;
CGE7b - a
Overall
Expectations
FAV.03 -
demonstrate an understanding of contemporary issues in a
Specific
Expectations
FA3.01 -
describe the impact of ethical and environmental issues on methods and
practices in a
FA3.03 -
determine how to use current technology to gather, classify, and process
financial data;
FA3.04 -
demonstrate how to use current technology to present summaries of a
·
Students
should be familiar with the use of the Internet and search engines.
·
Students
should be familiar with word-processing, spreadsheet, and presentation
software.
·
Students
should be familiar with the concepts of ethics and social responsibility.
·
Book
a
·
The
teacher should be competent with Internet browsers and presentation software.
·
A
LCD projector if available may be used.
·
Arrange
for a guest speaker from an investment or mutual fund broker (e.g., CIBC Wood
Gundy, Edward Jones, Investor’s Group, etc.) to discuss investing and in
particular in ethical mutual funds.
·
Verify
the URLs in Appendix 5.3.1 – Social Investing Websites and prepare handouts
(see Appendix 5.4.2 – Ethical Investing Performance Task).
1. Introduce the concept of ethical investing. Students complete a pre-test to gauge their
knowledge and awareness of ethical investing, for example, for a range of
Canadian companies listed on the Toronto Stock Exchange (TSX). Students can
research these companies on the Internet to determine the products and services
they provide. Have students outline the ethical approaches/practices followed
by these companies. As a class, discuss social responsibility, environmental
awareness, and other ethical issues.
2. Define ethical investing and analyse the
classifications of a socially responsible (ethical) investment. (See Appendix
5.4.1 – Is Your Business Socially Responsible?) Students may identify
additional criteria to be added to the list.
3. Hand out the worksheet (Appendix 5.4.2 –
Ethical Investing Performance Task). Students work in groups of two or three to
research and analyse three ethical mutual funds. As students research using the
Internet, the teacher circulates to ensure proper use of Internet.
4. Students use word-processing, spreadsheet, and
presentation software to prepare a report on the funds. An example should be
provided by the teacher.
5. Students present their reports to the class.
Presentations are assessed.
·
Formative
assessment of multi-media presentations (Appendix 5.4.3) could be used for
self- or peer assessment.
·
Summative
Assessment: Reports on ethical mutual funds, multi-media presentations
(rubrics)
·
Provide
opportunities for peer mentoring and provide a reader or scribe for the
assignment.
·
Prepare
a guide or outline to assist students when taking notes or completing
assignments.
·
Record
reading materials on tape.
·
Students
who have difficulty presenting could be encouraged to respond through
tape-recorded or videotaped messages.
·
Students’
roles within groups should be assigned based on their strengths.
Arens,
Loebbecke, et al. Auditing and other
Assurance Services, 8th edition.
Bhabha,
Homi and
Skinner,
David. The Ethical Investor.
Thompson,
Mel. Ethics.
Steps in
the Christian Ethical Decision-making Model (first appeared in Course Profile
for Introduction to Financial A
1. Define the dilemma.
2. List the facts.
3. List your options.
4. Evaluate options: Is it legal? Is it right?
Is it Christian?
Does your decision adhere to Gospel Values? Peace, Conflict Analysis and Management, Cooperation, Non-violence,
Global Community, Social Justice, Negative Social Impact, Human Rights,
Responsible Use of Power, Responsible Stewardship of the Earth, Moral
Conscience.
Gospel Value Examples:
|
Negative
Social Impact: |
Are our
company objectives, advertising, and objectives promoting social sins, such
as greed and waste? |
|
Human
Rights: |
Do we,
as part of management, try to take advantage of employees to the point that
we are denying employees a real life or a safe working environment? |
|
Responsible
Use of Power: |
Do we
take advantage of third-world countries to benefit our company? |
|
Responsible
Stewardship of the Earth: |
Do we
pollute in order to improve the bottom line or to eliminate our competitors
through price wars? |
|
Non-violence: |
What
concerns do we have about the treatment of employees? |
|
Moral
Conscience: |
As a
Christian and as a professional a |
5. Select
an option.
6. Reflection. What if others close to me find
out about my decision? What will the
7. If uncomfortable with your decision, then
your moral conscience is talking to you. You need to go back and select another
option (see Allan Otten. “Ethics on the Job: Companies Alert Employees to
Potential Dilemas.” The Wall Street Journal.
There are
many adjectives that describe an individual who acts ethically.
Truthful
Being
honest, sincere, and straightforward; doesn’t cheat, steal, or act deviously;
is not “two-faced.”
Keeps
Promises
Is worthy
of trust; keeps promises and fulfills commitments; does not interpret
agreements in an unreasonably technical or legalistic manner in order to
rationalize or justify breaking commitments.
Loyal
Is faithful
and loyal to family, friends, employers, customers, and clients; does not use
information learned in confidence; avoids conflicts of interest.
Fair
Is
open-minded, willing to admit errors, and, where appropriate, changes positions
and beliefs; demonstrates a commitment to justice; is culturally diverse and
does not discriminate.
Kind
Caring,
compassionate; shares; helps those in need and avoids causing harm to others.
Responsible
Obeys the
law and is socially conscious; when in a position of leadership or authority,
openly respects and honours democratic processes of decision making, avoids
unnecessary secrecy or concealment of information, and assures that others have
all the information they need to make intelligent choices and exercise their rights.
A
Is a
Scenario
1
You are a
newly qualified chartered a
(Issues:
materiality, GAAP, objectivity, conflict analysis and management, negative
social impact, moral conscience)
Scenario
2
During
the review of the a
(Issues:
professional liability, internal control procedures for sub-ledger/control a
Scenario
3
Iceberg
Cold Storage is a client that will have an initial public official (IPO) in
about three months. This company is performing exceedingly well and has
recently signed an agreement with a large fast food company to be its only
storage facility in
(Issues:
insider information, conflict of interest, code of behaviour, negative social
impact, moral conscience, responsible use of power)
Scenario
4
Attracta
Lures is a su
(Issues:
conflict of interest, code of behaviour, responsible use of power, moral
conscience)
Scenario
5
Farnoosh
Furniture Inc. has approached you to be its auditor. You sent a letter to the
previous auditors to ask if there was any reason why you shouldn’t a
(Issues:
confidentiality, code of conduct, conflict resolution, moral conscience,
negative social impact)
Scenario
6
As the
new a
(Issues:
ICAO Code of Conduct, reliability of financial statements, negative social
impact, responsible use of power)
Scenario
7
You are
performing a review of Santa’s Snowplow Inc. (SSI) and, upon sending an
information letter to their lawyer Eddie Schakarama, you get a call from Eddie
letting you know that a lawsuit is currently in progress against SSI for injury
of Sammy Sosi. Sammy was parked in a local business lot when the SSI snowplow
slipped on some ice and “T-boned” the car, seriously injuring Sammy and his
girlfriend. The appeal is still in progress and the plaintiffs were initially
awarded $125 000 in compensation by the trial court judge. SSI is appealing the
initial decision. As the a
(Issues:
disclosure, materiality, moral conscience, cooperation)
Scenario
8
You have
a client, 112696 Ontario Ltd. (operating as Smith Farms), that had $600 000 of
farming income last year. Their resulting net income was $343 000, on which
they paid $90 000 in taxes. The farm was stricken with “Hoof and Mouth”
disease, entirely ravaging the farm’s livestock. The farmer and controlling
shareholder, Mr. Smith, is 76 years old and has decided that this will probably
be his last year operating the farms. Smith Farms has over one hundred
shareholders from outside the country. This year’s financials are showing a net
loss of $453 000. How does this information affect the presentation of your
financial statements?
(Issues:
adequate disclosure, extraordinary items, unusual events, going concern,
conflict analysis and management, responsible use of power)
Scenario
9
While
performing audit work for Badasushi Restaurant Inc., your CA student has
detected numerous errors. The errors include unrecorded revenues of $75 000,
overstated expenses of $28 000, related unrecorded a
was $200 000?
(Issues:
materiality, errors/omissions, supervision of staff, responsible use of power,
conflict analysis, negative social impact, moral conscience)
Scenario
10
You have
a new client, Buff One Gym Inc., that is very interested in having your firm
provide all a
(Issues:
code of conduct, illegal activity, tax evasion, moral conscience, responsible
use of power)
www.domini.com/domini-funds/Domini-Money-Market-A
www.goodmoney.com/candfunds.htm
www.coop
www.citizensbank.ca/link?menuId=60001
www.cleanenvironment.com/
www.ethicalfunds.com/content/home.asp
www.csi.ca/pub/en/index.html
www.ific.ca/eng/home/index.asp
www.socialinvestment.ca/
www.socialinvest.org/
www.ethicsinaction.com/
www.fidelity.ca
www.web.net/~t
www.globefund.com
Name:
|
1. Your audience and the purpose of your
presentation is identified. |
Y |
N |
|
2. A consistent background is used in your
presentation. |
Y |
N |
|
3. A consistent font style is used in your
presentation. |
Y |
N |
|
4. Colours are complementary. |
Y |
N |
|
5. Your font size is between 22 and 36 points
for readability. |
Y |
N |
|
6. Nuggets are utilized to highlight important
information. |
Y |
N |
|
7. The amount of text on each slide is not
overbearing to the audience. |
Y |
N |
|
8. The slides include multimedia, e.g.,
animation, clip-art, audio, video. |
Y |
N |
|
9. Slide transitions are used for progression
from one slide to the next in the slide show. |
Y |
N |
|
10. The slide show does not replace the
presenter(s). The presenter(s) have a role in the communication of the
information. |
Y |
N |
|
11. Your audience will likely learn something
from this presentation. |
Y |
N |
|
12. There is a logical sequence of information
throughout the presentation. |
Y |
N |
|
13. There are no spelling or grammatical errors
in the presentation. |
Y |
N |
|
14. The graphics and video/audio clips are not
exaggerated. |
Y |
N |
Instructions
·
Connect
the power cord to the back of the LCD projector.
·
Take
out the monitor cable (blue dots on the end) and connect one end to the VIDEO 1
slot on the back of the LCD projector.
·
Connect
the other end of the monitor cable to the Video Out slot on the laptop.
·
Turn
on the LCD projector and laptop (if not already on).
·
Once
the LCD projector has warmed up, you should see a blue message screen.
·
On
most laptops, a function key combination must be pressed to toggle from laptop
display to external projector display. On a Compaq laptop, for instance, the
combination is Fn + F4.
A
socially responsible business provides solutions to environmental and social
problems and avoids having a negative impact on people, the environment, and
animals. “Good” businesses exhibit:
Community
Involvement
·
Active
in the community and with volunteer programs
·
Charitable
giving and fundraising
Continued
Education and Training
·
Enhances
the quality of life and opportunity in the workplace
Health
and Safety Policies
·
Provides
ergonomically friendly equipment/environment to employees
·
Supplies
special equipment or devices that have health, safety, or environmental
applications
Good
Employee Relationships
·
Employee
profit sharing or stock purchase plans
·
Equal
opportunity employer
·
Encourages
employee participation in daily activities
·
Fair
compensation and flexible work hours
·
Does
not use or support child labour or forced labour
A Code
of Conduct/Code of Business Ethics
·
The
company publishes a statement of business ethics or code of conduct
A
Positive Impact on the Environment
·
Is
engaged in the supply of energy conservation services
·
Is
engaged in the provision of bus and rail services, or manufacturers of
bicycles, buses, and trains
·
Supplies
and/or uses pollution equipment and monitoring devices
·
Recycles
waste and/or uses recycled waste in their products
·
Protects
water supplies and provides water purification services/equipment
·
Is
engaged in sustainable development
·
Reduces
or avoids carbon dioxide emissions and other air pollutants
The Task
In this
task, students research and analyse three ethical mutual funds. Students apply
their values and interests to the process of investing. After the funds have
been thoroughly researched, students prepare a computerized summary comparing
selected corporations in each fund for their ethical validity. Students also
act as Management A
1. The class is divided into small groups (two
or three students per group). Each group selects three socially responsible
mutual funds.
2. Students submit a detailed report that
includes:
a. the name of each fund;
b. the type of fund (equity, balanced, foreign, etc.);
c. the year the fund was started;
d. the portfolio manager;
e. the management expense ratio (%);
f. the reasons the fund was chosen by your group;
g. the top 10 holdings of the fund, including percentage of portfolio;
h. the ethical principles and/or criteria used by the fund company to select corporations;
i. a fund summary (performance data) for each fund (usually published online and available where mutual funds are sold) (e.g., financial institutions, financial advisors);
j. a financial section which
evaluates the rate of return, net asset value, net investment income/loss, and
any other pertinent a
k. recommendations on whether the funds should be included in a “socially responsible” investor’s portfolio. Are there any corporations in the fund that should be deleted from your findings based on the criteria?
3. The report is evaluated using a rubric.
4. Students present their findings and summaries
of the ethical and a
Name:
Facts
and Content
|
1. The name, type, and start date of each fund
is communicated. |
Y |
N |
|
2. Pertinent information, such as the fund
manager and management expense ratio, is communicated to the class. |
Y |
N |
|
3. The top 10 holdings of the fund, including
percentage of portfolio, is communicated. |
Y |
N |
|
4. A fund summary for each fund is
communicated. |
Y |
N |
Interpretation
and Critical Analysis
|
1. A detailed explanation for choosing the
fund is given. |
Y |
N |
|
2. The ethical principles and criteria used by
the fund company to select corporations in the fund are explained. |
Y |
N |
|
3. An evaluation of the rate of return, net
asset value, net investment income/loss, and other a |
Y |
N |
|
4. Recommendations on whether the funds should
be included in a “socially responsible” investor’s portfolio is communicated
to the class. |
Y |
N |
Visual
Aids and Class Involvement
|
1. Presentation software is utilized to
communicate the information to the class. |
Y |
N |
|
2. Other visual aids, such as charts,
booklets, pamphlets, and/or annual reports, are used. |
Y |
N |
|
3. Opportunities for class involvement are
provided. |
Y |
N |
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