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Management & Cost Accounting And Research Add in library

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Question :

(1) Ethical responsibility of Caramel Benjamin in this situation
(2) Decision of Mc Hugh in informing Biz Solutions
(3) Steps to resolve internal conflict situation

 

 

Answer :

(1) As per the ethical norms of management accounting, Caramel should abide by the following duties.

 

Confidentiality: Caramel should keep the information about the delay in the payments of suppliers confidential because leaking out of this information will make her guilty in the norms of insider trading (Scapens and Bromwich, 2010).

Integrity: According to Modell (2010) the management accountants are required to stay away from any kind of favor gifts or hospitality and avoid getting themselves into any kind of conflicting situations. in this case since Benjamin   was suggested by Print design Ltd for the current job position in Biz Solutions Ltd hence she was in favor of the profit of Print Design Ltd. However as per the ethical consider rations she is expected to maintain her integrity in the matter.

Objectivity: This clause states that the management accountants are expected to communicate all information fairly and objectively and disclose all relevant information that could influence the stakeholder’s decisions (Epstein and Lee, 2010). Hence keeping this code in mind Benjamin can disclose the delay in the trading cycle that the company is planning to have to the concerned stakeholders which is the long term suppliers Print Design Ltd.  

 

(2) In this respect since Benjamin is n employee of Biz Solutions hence she is responsible for the profit and loss of any kind suffered by Biz Solutions. Although she is not ethically permitted to give internal information to Print Design Ltd however she is liable to supply any kind of information to Biz Solutions. So taking the scenario in mind it can be recommended that Benjamin should deliver the information of order postponement to Biz Solutions because this will help the company financially. Since Print design is a long term supplier and Biz Solutions require an urgent delivery of new product hence the delay in the order will make Biz Solutions suffer a huge economic loss. So it is important for Biz Solutions to get this information (Drury, 2012).

(3) Benjamin in this situation will face a conflict between ethics and personal well being. She may refrain from telling Biz Solutions about the order delay intention of Print Design because of the fear of getting fired from the company due to false acquisitions by the purchase manager of the company (Weetman, 2010). However as per the code of integrity she should inform the authorities about the situation so as to save the company from incurring high financial losses. In this respect to resolve the conflict she needs to stay calm and maintain high moral grounds and she can maintain the records of the company as a proof. Finally she needs to inform the management about the information not in an assured way or rather in a suggestive way. She can inform the management of the pros and cons delay in the inventory levels. This will make the management alert about the future circumstances and will not endanger the job position of Benjamin.

 

Reference list

Books

Drury, C. (2012). Management and cost accounting. Andover: Cengage Learning.

Epstein, M. and Lee, J. (2010). Advances in management accounting. Bingley: Emerald.

Horngren, C. and Horngren, C. (2012). Management accounting. Toronto: Pearson Canada.

Weetman, P. (2010). Management accounting. Harlow, Essex, England New York: Financial Times/Prentice Hall.

Journals

Modell, S. (2010). Bridging the paradigm divide in management accounting research: The role of mixed methods approaches. Management Accounting Research, 21(2), pp.124-129.

Scapens, R. and Bromwich, M. (2010). Management Accounting Research: 20 years on. Management Accounting Research, 21(4), pp.278-284. 

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