SBR Topic Explainer: Applying ethical principles to earn marks

Summary

In this educational video, ACCA subject expert Tom Clendon focuses on applying ethical principles to earn marks in the exam. He revises the five ethical pillars: objectivity, professional behavior, integrity, and confidentiality, emphasizing their importance in dilemmas. Clendon demonstrates how to structure answers with headings, apply principles to real-life scenarios, and end with actionable advice. He critiques an example answer, showing how to improve by linking principles to the case and providing specific action points, aiming to help viewers pass the ACCA Strategic Professional exam.

Takeaways

• 📚 Tom Clendon introduces himself as an ACCA subject expert and aims to help viewers earn marks by applying ethical principles in exams.
• 🎯 The video focuses on the application of ethical principles in exam question two, which always tests these principles.
• 🔑 Tom emphasizes the importance of understanding the 'Five Pillars' of ethics: objectivity, professional behavior, integrity, and confidentiality.
• 📝 He provides pointers on earning professional marks through structured, considered answers that demonstrate understanding of ethical principles in real-life situations.
• 💡 Tom suggests including action points in exam answers, even if not explicitly asked, as a natural part of the answer structure.
• 📑 He critiques an example answer for being generic and lacking specific application to the case scenario, awarding it a low mark.
• 🤔 Tom discusses the importance of reflecting on one's actions in the context of ethical principles and suggests action points for the finance director in the case study.
• 🔍 The video script highlights the need to address specific ethical issues such as competence in understanding big data and the manipulation of data for personal gain.
• 📈 Tom points out the importance of linking ethical principles to practical situations and the potential for earning additional marks by addressing all aspects of a case.
• ⏰ He advises against 'brain dumping' and emphasizes the importance of reading, thinking, and then answering in a structured manner within the exam.
• 📝 Tom concludes by encouraging viewers to review and learn from the examiner's answer, practice questions, and focus on time management to pass the exam.

Q & A

Who is the speaker in the video, and what is their role?

The speaker is Tom Clendon, who is an ACCA subject expert.

What is the main purpose of the video?

The main purpose of the video is to help viewers understand how to apply ethical principles to earn marks in the ACCA exam, specifically in question two which tests ethical principles.

What are the five pillars of ethical principles mentioned in the video?

The five pillars of ethical principles mentioned are objectivity, professional behavior, integrity, confidentiality, and ethical behavior in dilemmas.

What does the speaker mean by 'professional marks' in the context of the ACCA exam?

Professional marks are additional marks awarded at the discretion of the marker for a structured, considered, and well-prepared answer that demonstrates understanding and application of ethical principles in real-life situations.

Why is it important to include action points in the exam answers even if not explicitly asked for?

Including action points is important because it provides a practical conclusion to the answer, showing the application of the ethical principles to the situation, and can earn professional marks.

What is the significance of the example used from the September December 2022 examination?

The example is used to demonstrate how to apply ethical principles to earn marks in the exam by showing the application in a real examination question, thus helping viewers understand the practical application of the principles.

What ethical issues does the finance director Mr. Betsu face in the example provided?

Mr. Betsu faces issues related to objectivity, competence, professional behavior, integrity, and confidentiality, particularly in his handling of big data analytics and his actions regarding the insider information about the share price.

What does the speaker suggest as a strategy for answering ethical questions in the exam?

The speaker suggests a strategy of reading the requirement first, planning the answer with headings, responding to the information within the case, and concluding with action points to earn professional marks.

Why does the speaker emphasize the importance of not brain dumping in the exam?

The speaker emphasizes this because marks in ethics are awarded for application, not regurgitation of pre-memorized information. Candidates must read, think, and then answer, responding directly to the case information provided.

What is the speaker's advice on how to improve the quality of answers in the exam?

The speaker advises to keep answers simple, structured, and to the point, using short paragraphs and action points. He also suggests learning from the examiner's answers and practicing with timed questions.

What is the final advice given by the speaker to viewers preparing for the ACCA exam?

The final advice is to review and learn from the examiner's answers, practice questions under timed conditions, and ideally get them marked to improve understanding and application of ethical principles.