Homework: Ethics in Managerial Accounting
Overview
The current economic conditions have tested the role of managerial accountants, challenging them to remain independent in mind and spirit when contributing to the decision-making processes of a business. Maintaining ethical standards and adhering to rules set by governing bodies at the local, state, and federal levels are needed to ensure both client and public trust.
Task
To complete this homework, prepare 4 to 5 pages paper in which you address the following:
o Identify the accounting governing bodies in your state and describe their role as it applies to setting ethical behavior and the fiduciary duties of a managerial accountant.
o Research the accounting industry and select a case from within the last three years in which ethical accounting standards were compromised. Describe the ethical violation(s) outlined in the case.
o Propose internal controls that should have been in place to prevent an ethical violation.
o After assessing the case you selected, describe how your thinking on the importance of ethics in managerial accounting has evolved during the course of this term.
Format your homework according to the following formatting requirements:
o The answer should be typed, using Times New Roman font (size 12), double spaced, with one-inch margins on all sides.
o The response also includes a cover page containing the title of the homework, the student's name, the course title, and the date. The cover page is not included in the required page length.
o Also include a reference page. The Citations and references must follow APA format. The reference page is not included in the required page length.
The specific course learning outcome associated with this homework is:
o Assess the importance of ethics in managerial accounting.