Cost accounting 1. a) 450 words b) 450 words

Part 1) The increasing globalization of the accounting profession and recent accounting scandals has brought about a growing interest on accounting ethics and the need to include accounting ethics education. If there is no change to corporate values and behaviour, accounting graduates will continue to face ethical dilemmas which they may be unable to manage. The Ministry of Higher Education in Malaysia requires the Institutions of Higher Learning in Malaysia to incorporate the learning outcome to 'Demonstrate Behaviour Consistent with Professional Ethics and Social Responsibility' and also to meet the requirement of International Federation of Accountants', International Education Standards - Professional Development-Professional Values, Ethics and Attitudes. Required: Your team is required to write a report by assessing the following questions. a) Discuss accounting fraud and how unethical behaviour affects the accounting profession and accountants. b) Discuss James Rest's model of ethical behaviour and how the model is important when confronted with ethical dilemmas