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Merced Home Products-Accounting Ethics CaseWayne A mover and shakerOMGT 308-001.2014,SP, Financial and Managerial AccountingInstructor Paul H. Robinson, JD, CPA almost profit making companies understand conducting business within an estimable coverage framework is the proper way to report quarterly results. Often account managers are given opportunities to exercise judgment in financial reporting, utilise their knowledge about the business to improve the effectiveness of financial statements. However, invoice professionals need to perform their job tasks in accordance with laws, regulations, and technical standards part supplying information that is accurate, clear, concise, and timely. At the same time, managers need to be bump from pecuniary anxieties, and disclose all relevant information that could influence an mean recipients understanding of the analyses or reports. However, when managers have incentives to produce positive results, profit precaution can occur whil e misleading those who review the fraternitys financial statements.In the case of Merced Home Products Inc., recently hired accountant Stacy Cummins has stumbled upon an accounting procedure causing her great concern. Being a recent controller, Stacy reviewed the financial statements of the Home Security division discovering profits improved individually quarter until a year end climax with outstanding performance. check to the assistant controller, the standard costs had been modified by Vice President, Preston capital of Michigan to reflect positive earnings as the fiscal year progressed. Upon get along investigation, Ms. Cummins discovered the president of the Merced Home Products was aware of the reporting using confutative standards and had chosen not to bother Pres... ...ose developed by the Institute of focussing Accountants (Ima, n.d.). The guidelines for ethical behavior cover professional competence, confidentiality, personal integrity, for individuals disclos ing financial information. Of course, ethical behavior in reporting is critical to establish creditability to any company to infuluence growth and outside investment. In the end, ethical conduct of the individuals reporting results is inhering for maintaining a solid reputation and support continued success. ReferencesBrewer, P. C., & Garrison, R. H. (2013). Introduction to managerial accounting (6th ed.). New York McGraw-Hill/Irwin.Federal Securities Laws. (2002). Retrieved April 29, 2014, from https//www.sec.gov/about/laws.shtmlsox2002 Ima. (n.d.). Retrieved April 29, 2014, from http//www.imanet.org/resources_and_publications/EthicsCenter.aspx