Question 1 [40 marks Generally, managerial accounting looks at supplying information used in business planning, decision making, measuring and monitoring the effectiveness of internal business controls. On the planning side, budgeting and forecasting are functions of managerial accounting. Analysis reports such as cost-volume-profit analysis, investment appraisal techniques and profitability analysis reports help managers make important business decisions. Monitoring functions include defining standards against which performance, efficiency and accountability can be measured. Required: (a) Elaborate on the significance of ethics that Management Accountant play. (9marks) (b) Elaborate on the role that ethics plays in the four main areas of managerial accounting? (6mark s) (c) Discuss how the (i) universities (ii) professional organisations (iii) the Law and (iv) internal company rules influence the ethical behavior of management accountants. (8marks) (d) Identify four of the most common ethical issues in management accounting: (8marks) (e) When faced with an ethical problem, there are various different steps involved in making an ethical judgement. Briefly identify at least 6 steps to be considered when an accountant is faced with an ethical problem. (9marks)