Ethical Responsibilities of Management Accountants: 1. Competence
Ethical Responsibilities of Management Accountants: 1. Competence
Ethical Responsibilities of Management Accountants: 1. Competence
Accountants
Management accountants should behave ethically. They must follow the
highest standards of ethical responsibility and maintain a good professional
image.
1. Competence
Maintain an appropriate level of professional competence through
the ongoing development of their knowledge and skills.
2. Confidentiality
Refrain from disclosing confidential information acquired in the
course of their work except when authorized, unless legally
obligated to do so.
4. Credibility
Communicate information fairly and objectively.
1. Managerial consultancy
3. Cost analysis
6. Price modeling
7. Product profitability
10.Cost-benefit analysis
11.Cost-volume-profit analysis
15.Capital budgeting
17.Strategic planning
20.Sales forecasting
21.Financial forecasting
22.Annual budgeting
23.Cost allocation
Financial accounting ensures that the assets and liabilities of a business are
properly accounted for and provides shareholder investors, tax authority,
creditors, etc.