Institute Of Management Accountant Case Study

Institute of Management Accountants Ethics Management accounting is very important for all types of organizations. Managerial accounting information is gathered and used to help managers make decisions regarding the operations of the organizations. Management accountants are in charge of executing different tasks to ensure the company 's financial security. For that reason, management accountants need to maintain an ethical and moral way of working in order to perform their jobs successfully.

The Institute of Management Accountants (IMA) has a detailed list of the ethical practices management accountants need to abide by. The IMA Committee on Ethics encourages organizations and individuals to adopt, promote, and execute business practices consistent with high ethical standards ("Ima ethics center," ). The Committee endorses the IMA Statement of Ethical Professional Practice, which contains and describes the principles that guide the IMA. This statement also provides key

In order for accountants to uphold integrity in their profession they need to avoid any activity that would affect their capacity to perform their duties ethically. For that reason, the acceptance of any gift, favor, or hospitality that would influence their actions is not recommended. In addition, either investors or creditors may be exposed to the risk of fraud if accounting ethics and integrity standards are not upheld, which can also undermine trust in the larger markets (Petryni). Petryni explains in his article “How Best to Respond to Ethical Challenges in Business” that if an accountant fails to fulfill his responsibilities with integrity it could damage the company’s image and status. Management accountants have to always make sure that all the information provided to managers is correct and real, so that the decisions that are going to be made based on that information are ethical and