A few years ago, the Chariot Manufacturing Company installed automated robots worth billions of dollars in its auto assembly lines, believing that the robots would improve profitability and increase the efficiency of the manufacturing process. However, Chariot lost many billions of dollars more despite the fact that it was able to make automobiles faster using the robots. Why would this happen? What could have caused this situation? Explain.
If management accountants don't have to follow GAAP in their reporting and have the freedom of more customized reporting, are ethics still important? Explain. Do research and post summaries of your findings.