Note: Your Answers here will be subjected to Turnitin (Similarity index measuring tool)
1. John Biggs and Patty Jorgenson are both cost accounting managers for a manufacturing division. During lunch yesterday, Patty told John that she was planning on quitting her job in three months because she had accepted a position as controller of a small company in a neighboring state. The starting date was timed to coincide with the retirement of the current controller. Patty was excited because it allowed her to live near her family. Today, the divisional controller took John to lunch and informed him that he was taking a position at headquarters and that he had recommended that Patty be promoted to his position. He indicated to John that it was a close call between him and Patty and that he wanted to let John know personally about the decision before it was announced officially.
What should John do? Describe how you would deal with his ethical dilemma (considering the IMA code of ethics in your response).
2. Describe the connection between planning, controlling, and decision-making.
3. What can a company do to increase the likelihood of its employees being ethical in all their undertakings?
4. Explain what is meant by confidentiality and why it is important.
Principles of Managerial Accounting
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Formative Test - Formative Test for Chapter 1
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Thursday, 4 March, 11:59 PM
Course event
Note: Your Answers here will be subjected to Turnitin (Similarity index measuring tool)
1. John Biggs and Patty Jorgenson are both cost accounting managers for a manufacturing division. During lunch yesterday, Patty told John that she was planning on quitting her job in three months because she had accepted a position as controller of a small company in a neighboring state. The starting date was timed to coincide with the retirement of the current controller. Patty was excited because it allowed her to live near her family. Today, the divisional controller took John to lunch and informed him that he was taking a position at headquarters and that he had recommended that Patty be promoted to his position. He indicated to John that it was a close call between him and Patty and that he wanted to let John know personally about the decision before it was announced officially.
What should John do? Describe how you would deal with his ethical dilemma (considering the IMA code of ethics in your response).
