a. Reports are usually prepared quarterly and annually. b. Information is verified by external auditors. c. Focus is on the past. d. Main characteristic of information is that it must be relevant. Financial accounting Managerial accountingThe IMA's Statement of Ethical Professional Practice requires management accountants to meet standards regarding the following: Question list . Competence . Confidentiality . Integrity O Question 1 . Credibility Consider the following situations. Which guidelines are violated in each situation? i (Click the icon to view the situations.) Question 2 Question 3 a. Failing to provide job description information to management because you fear it may be used to cut a position in your department violates the standard. X More info competence a. You do not provide top managers with the detailed job descriptions they requested because you fear they may use this confidentiality information to cut a position from your department. b. You tell your sister that your company will report earnings significantly above financial analysts' estimates. credibility c. You failed to read the detailed specifications of a new software package that you asked your company to purchase After it is installed, you are surprised that it is incompatible with some of your company's older accounting software. integrity d. You see that other employees take office supplies for personal use. As an intern, you do the same thing, assuming that this is a "perk." e. At a financial reporting seminar, you skip the afternoon session and go sightseeing. Your company paid for the registration fee, and you are getting paid for the day.For each of the situations listed, identity the primary standard from the IMA Statement of Ethical Professional Practice that is violated (competence, condentiality, integrity, or credibility.) v Primary Standard Situation Violated Jack, an accountant for a smartphone manufacturer, told his friends about a new model of smartphone being released by the company in the following quarter. For competitive reasons, the company keeps its models shrouded in secrecy until the a. release date. I VI The CFO directed that certain expenses be reclassified as assets, so that target prot could be achieved. The CFO rationalized thatjobs would be saved by reaching b. the targeted income figures. Even though Meagan's company is adopting a new ERP system that impacts the Competence accounting system, Meagan [a management accountant} has not completed the c. required ERP training from the vendor. Condentiality Oliver provides an analysis of the protability of a company-owned store that is managed by Oliver's best friend, Bob. Oliver neglects to include allocated fixed costs in Bob's report. If Oliver includes those allocated xed costs, the store will d. show a loss and Bob's job could be in danger. Yimeng, a purchasing agent for her company, received two tickets from a supplier to Integrity the upcoming Ohio State versus University of Michigan football game. These tickets 3- sell for over $500 each. Credibility Complete the following statements with one of the terms listed here. CEO Economic Planning CFO Environmental Sarbanes-Oxley Act of 2002 Controlling ERP Social Controller Financial accounting system Sustainability Critical thinking IMA Treasurer Directing Internal audit Triple bottom line is geared toward producing periodic financial statements that will be used a. The by investors and creditors to make investment and lending decisions.McGowan Company provides managers with regular Key Performance Indicator a. (KPI) dashboards. b. Zerrot Corporation issues monthly revenue reports. Wheelson Company uses customer analytics and sales history to determine c. how to drive repeat purchases by customers. Courtyard Freight investigates the cause of slow shipments in the southeastern d. region. e. Medavoy Operations uses statistical software to forecast sales. Johnson Stores, Inc., drills down through data to find out which marketing f. activities were most effective in generating sales. Michelson Corporation uses machine learning, artificial intelligence, and algorithms to continually make decisions in real-time about which sales g. promotions to run in each market. Adaptive and autonomous Descriptive Diagnostic Predictive ore help - Cle Prescriptive