1)
Introduction:
The Statement of Ethical Professional Practice of Institute of
• The Statement of Ethical Professional Practice of Institute of Management Accountants is a guideline of the various principles and policies regarding the ethical obligations of the members of the Institute of Management Accountants.
• It comprises of the Principles of the Institute of Management Accountants, Standards of the Institute of Management Accountants and the course of Action prescribed by the Institute of Management Accountants in resolving ethical conflicts.
To Identify:
Ethical Principles that underlie the Institute of Management Accountants’ statement of Ethical professional practice
2)
Introduction:
The Statement of Ethical Professional Practice of Institute of Management Accountants
• The Statement of Ethical Professional Practice of Institute of Management Accountants is a guideline of the various principles and policies regarding the ethical obligations of the members of the Institute of Management Accountants.
• It comprises of the Principles of the Institute of Management Accountants, Standards of the Institute of Management Accountants and the course of Action prescribed by the Institute of Management Accountants in resolving ethical conflicts.
Resolution of ethical conflicts
• Practical application of the Standards of Ethical Professional Practice is not easy and at times situations may arise where unethical behavior is observed. Instead of turning a blind eye, the member must try to resolve the situation.
• The Statement of Ethical Professional Practice of Institute of Management Accountants contains the suggested courses of actions that a member can resort to if unethical behavior is observed.
To Determine:
Courses of actions recommended by the Institute of Management Accountants while resolving ethical issues.
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Chapter 18 Solutions
Fundamental Accounting Principles -Hardcover
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- During October, Division Z manufactured and completed 92,000 units and also finished 45,000 units that were 60% completed on September 30. On October 31, Division Z's ending inventory consisted of 25,000 units that were 40% completed. All manufacturing costs are incurred at a uniform rate throughout Division Z's production process. Compute the number of equivalent full units of production for Division Z during October. (FIFO method)arrow_forwardCompute the variable overhead spending variancearrow_forwardSolve this financial Accounting problemarrow_forward
- Please provide the accurate solution to this financial accounting question using valid calculations.arrow_forwardPlease provide the accurate answer to this financial accounting problem using valid techniquesarrow_forwardPlease explain the solution to this general accounting problem using the correct accounting principles.arrow_forward
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