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Ethics Paper

Ethical issues are always a challenge of our human nature. We are faced with daily ethical problems in the face of all the temptations of money, status and fame. We can fight to make the right ethical decisions about our work every day. While some people take advantage of their positions to do things contrary to professional ethics. Those people are causing problems that not only harm others, but are also harming the larger social environment. Assuming in the case I'm the cost analysis reporter for Project Alpha, a new vaccine, my estimating the required additional cost will be reported to the board. Before a week, the CFO asked me not to need to give that information in the meeting because of without time at this point. Based on the IMA Code of Ethics, CFO's statements are unethical which I disagree with him because his thoughts negatively affect upcoming corporate events; furthermore, it is the actions dishonesty and irresponsibility of the financial director.

The information provided should be based on activities performed in Alpha project and my accounting work requires job ability and professionalism to complete tasks effectively with accurate analysis. . Therefore, CFO's recommendation to falsify information is unethical as it goes against IMA standards. In preparation for an upcoming project, board members need accurate information to make decisions that affect a company's earnings and reputation. Good or bad, the information provided is crucial for a project to function. Although additional overall cost can increase from $ 4 to $ 5 million, I can justify the project in detail. What the CFO is concerned about is that I am an untrusted person that my information will slow down the company's earnings so the CFO wants to offer a more favorable situation. Because such situations can lead to other serious legal situations for the board of directors because of their misconduct. Information must be provided accurately to avoid such circumstances. Reports cannot be concealed for the benefit of one party. In addition, the CFO's proposal jeopardizes my career or to Vu and the plant manager in case they have hired me. I believe the law is designed to protect my rights in the workplace. So, in this case, I can object to the finance director's improper proposal.

According to the Institute of Management Accountants, "the overarching ethical principles of the IMA include: Honesty, Fairness, Objectivity and Responsibility. Members must act in accordance with these principles and encourage those who others in their organization adhere to these principles. ". Honesty does not allow management accountants to engage in unethical activities. Because it goes against professional ethical standards. Assuming the information I give is not relevant to the project, that action is far from being dishonest in my work. Dishonesty is the act of intentionally becoming more dangerous that could result in disqualification or a violation of IMA ethics standards. Good or bad, I think the information provided is clearly essential for the board to evaluate the project.

Accountability is one of the key principles of IMA ethics for which accountants and executives are required. Because if they lack responsibility, it will cause the loss of trust of the leaders to the employees. Not only that, but their lack of responsibility will lead to business decline as no partner wants to have long-term relationships with the company. That's a bad practice in any business. Therefore, directors are responsible for ensuring that they comply with their obligations and encouraging others in their organizations to adhere to the principles of solidarity in the workplace. Because providing the right information helps the board's role to plan and strategize for a company's short- and long-term goals and provide mechanisms to track progress under those items. spend that.

In short, based on the IMA Ethical Standards, CFO is misconduct because he does not believe me in connection with me ignoring important information passed to the board. The CFO's misdeeds certainly change the mind of the board that is on the Alpha project. An honest and accountable representation of events is important for a company to ensure the right decisions are made. So, I should turn down the CFO's request since I was hired to analyze the report. Finally, I should tell Vu and the plant manager about my findings. I can be responsible for letting the board know the results of cost analysis work for the project Alpha.

Works Cited

https://www.imanet.org/-/media/635508439d8848b89e544a4ac2888f88.ashx?la=en