Ethical Standards Of Ethics: The Institution Of Management Accountants

Accountants are held to a higher ethical standards and they must performed their duties in compliance with standards or ethical values of honesty, integrity, objectivity, due care, confidentiality, which must be fully committed to. They must put clients or public interest first before their own. They must have and ethical values and maintain those values way beyond what the society or the company’s code of ethic. It is important that accountants’ behavior or ethical values is in conformity with the

Ethical standards are subjective. Like morals, mission statements and corporate responsibilities and conduct, Ethical standards or practices are used to guide behavior in an organization or profession. This paper will explore the Institute of Management Accountants (IMA) Statement of Ethical Professional Practice and their ability to interact in the global market.

The article “Ethical reasoning: Implications for Accounting” by Mintz and Morris from Ethical Obligations and Decision Making in Accounting, summarizes modern moral philosophies and defines different views on ethics according to the philosophy being followed. There are four broad categories of moral philosophies: teleology, deontology, justice theory, and virtue ethics. In many cases, there are specific subgroups within these major groups. The article gives specific examples of when each philosophy should be used and illustrates the strengths and weaknesses of each philosophy.

If management and the board of directors take appropriate remedial action, should Barber be required to report the matter outside the company?Â

Question 5 is about the ethical standard of competence of the Institute of Management Accountants (IMA) and how it relates to biblical principles. Competence is the first of four standards that help guide management accountants in their conduct. The other three standards of the IMA (n.d.) include confidentiality, integrity, and credibility. These standards are so important to the IMA (n.d.) that the organization even states that “a member’s failure to comply with the following standards may result in disciplinary action” (p. 2). The IMA even has an ethics committee and ethics helpline that can be called for help with ethical issues.

People do know that there are business organizations that have disregarded ethical standards and encounters ethical issues inside their company. There are times that ethical standards or norms have to be set aside to achieve something worthwhile for the company. Lately, businesses recognize the importance of ethics to help establish the integrity of the

The responsibility of accountants is crucial. Accountants serve as financial reporters and intermediaries in the capital markets and owe their primary obligation to the public interest. They provide significant information in economic decision making to investors, managers and others. If the accountants will not follow the ethical guidelines, then this could prove to be hazardous for the society and capital market

Introduction. The authors study reasons of potential discrepancies between leaders and non-leaders of accounting firms. The firm’s ethical norms directly influence the behavior of its members. The researchers state that it is important to identify and understand the factors that affect ethical norms in the organization (p. 125). The firm’s leaders should play a meaningful role in building and supporting the ethical environment. The main objective of research is to analyze motives of perceptions’ inconsistencies in of the ethical setting between the management, partners, and other accounting professionals of the firm. The study is important through its investigations of influential factors of ethical standards on perceptions of accounting firm’s members, and in reducing the gap between partners and non-leaders of the CPA firm. The authors consider two problems of the study: greater ownership interest promotes the decision leadership in the company, and lack of non-leaders participation in modeling the firm ethical environment (p. 126).

Bitcoin now has the largest market capitalization among all kinds of crytocurrency. Bitcoin 's success has generated a number of other crypto-currencies including Litecoin, Peercoin, and Namecoin, etc. Bitcoin, an electronic currency, is established by computers producing a string of unique numbers through complicated math problems. Bitcoin is sold on unregulated exchanges and acknowledged by an increasing number of people and businesses due to the fast speed and low transaction cost. One Bitcoin is now valued at about $500 and other crypto-currencies hold less value. The trend is that cryptocurrencies are attracting more interest as potential investments. A distinguishing feature of crypto-currency is that it is not issued or backed by government. So it is difficult for government to manipulate or interfere with. Governments around the world hold different perspectives

Epistemological exploration lead to the construction and advancement of the existing theories hence constitute a central theme in the issue of accounting ethics. The research that relates to the progress of the accounting theories of ethics is that of compliance. Approaches that address the topic focus on analyzing the behavior of accountants to adhere to the established moral standards. (Boyce, 2014) argues that the accepted way of conduct by accountants adopted by their professional body is based on general moral standards that are common to other professions as well. Another central issue that has been investigated by researchers is the definition of ethical theory as it relates to accounting. (Brown & Forster, 2013) claims that the ethical theories attempt to enlighten the profession on the practice that may

Ethical challenges happen anywhere in a work place, but managers often deal with ethical issues the most. Managers have to worry about their employee’s actions and also their own. In the business world today, there are more rules and regulations to follow to keep the professionalism. When employees or even the boss go against the rules and regulations set, it could lead to dismissal from the business. In this paper, there will be examples of what the IMA expect from companies. People often do not think that practicing ethical behavior in the work place is in important, but the IMA oversees everything that you do.

this dissertation had to be altered. Nevertheless the term will come up and play a role in this dissertation and it is therefore important to develop a basic understanding of what is implied by it. Morrison and Svennevig (2002) agree that it is a broad concept that everybody is somewhat familiar with but that still lacks some precise definition. Nonetheless public interest can generally be described as involving matters that are likely to affect a great number of people and that in turn people might want to know about. A more precise definition can actually be found in the statement of the International Federation of Accountants (2012: 2) who specify publics as “the widest possible scope of society“ which include „individuals and groups

Ethics are a decision one makes in knowing the right thing to do and essentially doing the right thing. They are the rules of behavior based on one’s belief of what is morally good and bad. A person may hear the word ethics and immediately think of government or the law. Not only does ethics have a role in government, it also plays a major role in business, including accounting. Schroeder, Clark & Cathey (624) states that the “reason for a high level of ethical conduct is the need for public confidence in the quality of services provided by the profession.” Ethical conduct not only encourages a high standard of performance; it also encourages a high quality of professional service. Enron’s financial scandal put a huge damper on that confidence. The Enron scandal made the public aware and conscientious of what could happen when dealing with unethical individuals. Since then, the public has educated themselves and are continually becoming more informed. Ethics in the accounting profession is not going away, it will only continue to change as business transaction change and become more complex.

Ethics is a decision one makes in knowing the right thing to do and actually doing the right thing. They are the rules of behavior based on one’s belief of what is morally good and bad. A person may hear the word ethics and immediately think of government or the law. Not only does ethics have a role in government, it also plays a major role in business, including accounting. Schroeder, Clark & Cathey (624) states that the “reason for a high level of ethical conduct is the need for public confidence in the quality of services provided by the profession.” Ethical conduct not only encourages a high standard of performance; it also encourages a high quality of professional service. Enron’s financial scandal put a huge damper on that confidence. The Enron scandal made the public aware and conscientious of what could happen when dealing with unethical individuals. Since then, the public has educated themselves and are continually becoming more informed. Ethics in the accounting profession is not going away, it will only continue to change as business transaction change and become more complex.

exchanges. The Socratic strategy served me well as a director in helping me to work with