Question

"Ethics in Management Accounting versus Financial Accounting" Please respond to the following:

Go to the American Institute of Certified Public Accountants (AICPA) Website to read the current AICPA code of professional conduct, located at http://www.aicpa.org/Research/Standards/CodeofConduct/Pages/default.aspx. Next, assess the effectiveness of the current Institute of Management Accountants (IMA) code of professional conduct in promoting ethical behavior and providing guidance for the dilemmas managerial accountants are confronted with today. In your assessment, compare the IMA code of conduct to the AICPA code of professional conduct and its effectiveness.

Assess the aspects of your job that are most likely to be challenged ethically and suggest the approach(es) you will take in order to handle these situations.

Answer 1

Answer:  

1. The IMA set of accepted rules gives administrative bookkeepers moral gauges that they are relied upon to pursue. The set of accepted rules gives that administrative bookkeepers ought to dependably remember the welfare of those are influenced by their activities and in that capacity ought to dependably execute their ethical judgments. The set of accepted rules requires the administrative bookkeepers to keep up abnormal state of morals, do direction and observing.

The IMA set of accepted rules sets benchmarks for ability, uprightness, believability and secrecy. The AICPA code of expert direct is intended for CPAs. The AICPA code sets models for CPAs in the accompanying zones due consideration, objectivity, freedom, and uprightness. The code likewise requires that CPA experts should connect their ethical judgment to their expert direct.

2. I function as a bookkeeper in an extensive car producing firm and the part of my activity that is well on the way to be tested morally is the consistent weight from administration on one hand and sticking to the standard working systems then again. As a bookkeeper it is my obligation and duty to report the money related circumstance of the organization in the most genuine way. Commonly there are weights put on me by administrators to modify the money related records of the organization. I handle these circumstances by holding fast to the moral benchmarks of my calling and guaranteeing that there is no deception or exclusion of money related records.