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BOOK-KEEPING ETHICS

CONTENT

  1. Meaning of TAP
  2. The Need for TAP
  3. Attributes of TAP
  4. Due process
  5. Problems Created by Lack of TAP and their Solutions

The Meaning of TAP

TAP is an acronym which is well-known in Nigeria. It stands for transparency, accountability and probity. These three summarizes the foundation of book keeping ethics and standards.

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.

Meaning of 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 to the officer involved in book-keeping accountability is very important.

Meaning of 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.

Lesson tags: Business Studies Lesson Notes, Business Studies Objective Questions, JSS2 Business Studies, JSS2 Business Studies Evaluation Questions, JSS2 Business Studies Evaluation Questions Second Term, JSS2 Business Studies Objective Questions, JSS2 Business Studies Objective Questions Second Term, JSS2 Business Studies Second Term
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