The Institute of Management Accountants (IMA) Statement of Professional Practice includes all of the following standards except:
A) Confidentiality.
B) Commitment.
C) Integrity.
D) Competence.
Option B is the answer The institute of management accountants statement of professional practice includes
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The Institute of Management Accountants (IMA) Statement of Professional Practice includes all of the following standards...
The Institute of Management Accountants (IMA) has promulgated an ethics code for management accountants called The Statement of Ethical Practice, which has four standards of ethical conduct. Which of the following is NOT one of those standards? A. Competence B. Confidentiality C. Integrity D. Continuing Education E. Credibility
The Institute of Management Accountants' Statement of Ethical Professional Practice requires managerial accountants to meet standards regarding competence, confidentiality, integrity, and credibility. Consider the following situations. Which standard(s) is(are) violated in each situation? (Click the icon to view the situations.) a. Providing earnings information to your brother before it is publicly announced violates the confidentiality standard. b. Stealing from your employer is a violation of the integrity standard. c. Skipping continuing education sessions could violate the requirement to maintain professional...
What are the four ethical standards in the Institute of Management Accountants' Statement of Ethical Professional Practice? Describe the meaning of each of the four standards. How does each of these standards impact planning, directing, and controlling?
Discuss the ethical standards for financial and managerial accounting. The IMA (Institute of Management Accountants) and The AICPA (American Institute of Certified Public Accountants) have established ethical standards. Review the ethical standards from each body. Are the standards significantly different? Similar? Do the standards have the same goal(s)
Discuss the ethical standards for financial and managerial accounting. The IMA (Institute of Management Accountants) and The AICPA (American Institute of Certified Public Accountants) have established ethical standards. Review the ethical standards from each body. Are the standards significantly different? Similar? Do the standards have the same goal(s)
According to the Institute of Management Accountants Statement of Ethical Professional Practice, determining whether a particular action is ethical requires knowing Multiple Choice whether the act is legal in your jurisdiction the intent and the business context of the act 0 whether the management accountant is certified Multiple Choice whether the act is legal in your jurisdiction. the intent and the business context of the act. whether the management accountant is certified. the amount of the fraud or theft that...
Reporting Various Activities Suppose the Institute of Management Accountants (IMA) has the following transactions during the year: 1. A retired CMA donates cash, with no stipulations as to use. 2. The IMA borrows money to finance construction of new facilities. 3. Money is collected in February from participants in the upcoming June annual conference. 4. The Board of Directors sets aside money for distribution to universities as awards for best management accounting doctoral dissertations. 5. Depreciation is recorded on IMA...
The AICPA Code of Professional Conduct (the Code) is generally recognized as a model for the accounting profession. Other professional accounting organizations have their own Standards. Some use parts of the AICPA Code; but others are very different from the AICPA Code. 1. How does the Institute of Management Accountants Statement of Ethical Professional Practice address the standard for Independence? How is this different from the AICPA Code? Why is it different? What does the IMA Practice cover? How are...
According to the Code of Conduct for management accountants (IMA’s Statement of Ethical Professional Practice), the resolution of an ethical conflict in a firm that has not developed its own processes:
The IMA's Standards of Ethical (Professional) Behavior that were a subject of this course (ACT 355) include each of the following standards EXCEPT: A)Competence B)Confidentiality C)IntegrityD) Punctiality