Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Using the IMA's four principles of ethical conduct, evaluate Tim's behavior. Has Tim acted in an ethical manner? Why or why not (be specific)? Is

Using the IMA's four principles of ethical conduct, evaluate Tim's behavior. Has Tim acted in an ethical manner? Why or why not (be specific)?

Is this answer correct below if so why?

Class,

IMA's four principles of ethical conduct include honesty, fairness, objectivity, and responsibility. These are all qualities that people in every field of work must have in order to ensure that themselves and their coworkers are held to a standard allowing the company to thrive. While there is a difference between not knowing what price to put on a purchase invoice for lumber and blatantly putting the wrong invoice so you spend less, it does not take much to reach that point. A person must hold themselves to the same standard that they hold every one else.

In Tim's case, he is buying wood to replace the old wood on his deck and is filling out a purchase invoice from his work. Tim used the lowest price of lumber for his invoice. Although Tim followed his companies policy and was approved for the use of the lumber, the way he filled out the invoice was incorrect. Instead of using the lowest price over the year, Tim should have either used the current price of lumber or averaged out the entire year. Tim was not being honest when determining what price he should have used. It is not only his responsibility, but his immediate manager's responsibility to hold Tim accountable for his actions. I would not see this as a huge ethical violation, it does not take much to continue down this path and do something that is really bad.

No one likes spending money, but just because you have the opportunity to pay less, does not mean you should and Tim should have known that. This is a simple fix there should be no severe repercussions to Tim's action in my opinion.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Advanced Accounting

Authors: Debra C. Jeter, Paul K. Chaney

7th edition

1119373204, 9781119373254 , 978-1119373209

More Books

Students also viewed these Accounting questions

Question

What is a lean warehouse? When are they used?

Answered: 1 week ago

Question

=+a) Is this an observational or experimental study?

Answered: 1 week ago

Question

The background knowledge of the interpreter

Answered: 1 week ago