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steveberrings steveberrings
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The Institute of Management Accountants (IMA) and many other professional organizations have a code of conduct to direct the membership's ethical behavior. The IMA standards include competence, confidentiality, integrity, and credibility. For each standard, give a situation in which the code of conduct will help a management accounting in his or her decision making.
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Managerial Accounting

Managerial Accounting


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angelofavariceangelofavarice
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More solutions for this book are available here
Answers will vary. Common examples may include the following.
Competence
Management accountants should maintain an appropriate level of professional expertise. They should attend seminars and conferences relevant to the industry in which they work in order to maintain knowledge of accounting principles and practices appropriate to the industry.

Confidentiality
Management accountants should refrain from using confidential information for unethical or illegal advantage. They should not participate in insider trading or other unethical practices.

Integrity
Management accountants should refrain from engaging in any conduct that would prejudice carrying out duties ethically. They should avoid conflicts of interest where that interest might influence their decision-making ability. For example, they should purchase supplies based on quality or price rather than purchasing from a supplier only because a relative works there.

Credibility
Management accountants should communicate information fairly and objectively. They should not hide bad news or tweak reports to bias a particular individual or department.

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steveberrings Author
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2 months ago
Helped a lot
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Thank you, thank you, thank you!
MAry1395
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This helped my grade so much Perfect
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