COST ACCOUNTING
COST MANAGEMENT SYSTEMS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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whether the act is legal in your jurisdiction.
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the amount of the fraud or theft that is involved.
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the intent and the business context of the act.
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whether the management accountant is certified.
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Detailed explanation-1: -Members of IMA shall behave ethically. A commitment to ethical professional practice includes overarching principles that express our values and standards that guide member conduct. IMA’s overarching ethical principles include: Honesty, Fairness, Objectivity, and Responsibility.
Detailed explanation-2: -IMA’s overarching ethical principles include: Honesty, Fairness, Objectivity, and Responsibility. Members shall act in accordance with these principles and shall encourage others within their organizations to adhere to them.
Detailed explanation-3: -The ‘Statement of Ethical Professional Practice’ focuses on the tenants of competence, confidentiality, integrity and credibility.
Detailed explanation-4: -The management accountant’s responsibility under the Institute of Management Accountants (IMA) Statement of Ethical Professional Practice includes the responsibility to “mitigate actual conflicts of interest.” This responsibility fits within which of the four standards in the IMA Statement?