Discussion – The Institute of Management Accountants (IMA)
Discussion
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Background
The Institute of Management Accountants (IMA) outlines standards for competence, confidentiality, integrity, and credibility in its Statement of Ethical Professional Practice, which managerial accountants are required to uphold. You can access this statement through the following linkLinks to an external site. or refer to the attached document titled ‘IMA_Ethics Card_Color_2022.pdf
Actions
Task
Choose two of the following situations and respond to the following question in a minimum of 150+ words: Which standard(s) is(are) violated in each situation?
a. You tell your brother that your company will report earnings significantly above financial analysts’ estimates.
b. You see others take home office supplies for personal use. As an intern, you do the same thing, assuming that this is a “perk.”
c. At a company-paid conference on e-commerce, you skip the afternoon session and go sightseeing.
d. You failed to read the detailed specifications of a new accounting software package that you asked your company to purchase. After it is installed, you are surprised that it is incompatible with some of your company’s older accounting software.
e. You do not provide top management with the detailed job descriptions they requested because you fear they may use this information to cut a position in your department.
Explanation & Answer
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