Business ethics and governance are crucial aspects for everyday life of accountants. Required: Provide a business report based on the above statement by identifying and evaluating of how can consider the ethical and good governance issues in running the business including the responsibilities and accountabilities of accountants in a wider context. In this report, you must include executive summary, introduction, main body, recommendations, and conclusions. In your demonstration of this part an expectation is that you shall use authentic academic and professional references. Harvard style reference must be used for both in-text referencing and reference list. The expected length of this part is 1,500 word

1. Use the language of financial accounting and financial reporting 2. Explain the purpose, content, format and practical applications of the following financial statements, the profit and loss Statement, the balance Sheet, the statement of cash flows, and the relationship between these financial statements 5. Apply the accounting cycle and the business process of accounting information systems and their ethical implications 6. Use financial information to support management decision making for solving both programmed and non-programmed business problems 7. Apply the principle of double entry system efficiently