Week 9 Discussion- Account for Managment Decision Making

Ethical Responsibility in Managerial Accounting 

Through managerial accounting, organizations receive the information they need so that they can plan, make decisions, and oversee business processes. Although an organization’s accounting statements (both internal and external) should fully and transparently reflect the organization’s actual financial situation, sometimes they do not. Sometimes there is intentional deception or fraud. Yet, even when an organization uses legal and accepted accounting practices, accounting statements may fail to present risks or explain unusual costs, profits, or assumptions. In this Discussion, you will consider your professional experience to recommend ways to ensure ethical responsibility within an organization.

To prepare for this Discussion:

• Think about a time in your professional experience when a decision      was made based on inaccurate accounting information or unethical behavior      resulting in fraudulent information. If you do not have professional      experience directly related to accounting and decision making, research a      situation in which inaccurate or fraudulent accounting information was      provided by a company. Consider the outcomes of utilizing fraudulent      accounting information for decision making and research how to avoid such      situations.

Post your proposed recommendations for ensuring ethical responsibility within an organization, to include the following:

• Describe the situation from either your professional experience or      your research in which unethical or fraudulent behavior occurred. If you      are describing an example from experience, please do not report real names      of either the company or individuals. If you are using an example from      research, you must include the reference and citation of the source.
• As a manager, explain the steps you would have taken or did take to      address the described unethical behavior. What methods or techniques could      have been used to both detect and mitigate the described situation? 
• As a manager, propose what actions you could take to help prevent      situations of unethical or fraudulent behavior in managerial accounting.