Key elements of the Shell’s ethical code
What are the key elements of the Shell’s ethical code? Describe in brief?
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The main elements of this code are that such individuals must:
a) Adhere to the utmost standards of honesty, truthfulness and fairness, whilst sustaining a work climate which fosters such standards.
b) Comply with any codes of conduct or rules regarding dealing in securities.
c) Avoid participation in any decisions which could include a conflict of interest.
d) Avoid any financial interest in contracts awarded through the company.
What do you mean by the term Mission statements? Briefly describe it.
The duties of each partner: The partners are beneath a fiduciary duty towards one another to: Render true accounts; Account for private gains; and Refrain from competition with the partnership firm.
Unit Cost: The cost of a chosen unit of a good or service. Illustrations comprise dollar cost perton, machine hour, labor hour, and department hour.
Explain Management accounting as an information system in brief?
Common Cost: It is the cost of resources used jointly in the production of two or more outputs and the cost can’t be directly traced to any one of those outcomes.
Write a short note on the main working areas of the Routing and personnel department?
Opportunity Cost: The value of the substitutes foregone by approving a particular strategy or utilizing resources in a particular manner. Al so termed as Alternative Cost or Economic Cost.
Partnership deed: Partnership deed is a written agreement including the terms and conditions agreed by all the Partners.
Full Cost: The sum of all costs needed by a cost object comprising the costs of activities executed by other entities in spite of of funding sources.
What does the difference between management accounting and financial accounting suggest?
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