For this assignment, you will need to read the IMA Ethical Standards that have been posted in this week’s module under the heading Readings and Other Resources. Then you will write a paper consisting of at least 5 paragraphs responding to the scenario below. This paper should consist of your opinion of how thee IMA standards apply or don’t apply to this situation. It should not simply be a discussion of the IMA standards, and it should be in your own words.
At the end of this assignment, students should be able to:
Identify the IMA ethical standards
Apply 1 or more of those standards to an accounting decisionFor this assignment, you will need to read the IMA Ethical Standards that have been posted in this week’s module under the heading Readings and Other Resources. Then you will write a paper consisting of at least 5 paragraphs responding to the scenario below. This paper should consist of your opinion of how thee IMA standards apply or don’t apply to this situation. It should not simply be a discussion of the IMA standards, and it should be in your own words.
At the end of this assignment, students should be able to:
Identify the IMA ethical standards
Apply 1 or more of those standards to an accounting decision
ScenarioScenario
You’ve been working as an accountant at Cheetham Inc for five years when one of your coworkers, Pate, was laid off due budget cuts. One day you boss says “If we would have changed our method of overhead allocation to reduce the cost of our product line, your coworker Pate would not have been let go! If the product cost went down, we would have had enough budgeted money to keep all employees. Too bad we didn’t know this before she was let go.”
Your other coworker, Davi, also heard the comments from the boss. Davi is unhappy with his job, and urged you to put this information on social media to make the company look bad.
What should you do? If you did comply, would you be violating any of the IMA’s ethical standards?You’ve been working as an accountant at Cheetham Inc for five years when one of your coworkers, Pate, was laid off due budget cuts. One day you boss says “If we would have changed our method of overhead allocation to reduce the cost of our product line, your coworker Pate would not have been let go! If the product cost went down, we would have had enough budgeted money to keep all employees. Too bad we didn’t know this before she was let go.”
Your other coworker, Davi, also heard the comments from the boss. Davi is unhappy with his job, and urged you to put this information on social media to make the company look bad.
What should you do? If you did comply, would you be violating any of the IMA’s ethical standards?