Information technologyMay 31, 2021
Avett Manufacturing Company allows employees to purchase materials, such as metal and lumber, forpersonal use at a price equal to the company’s cost. To purchase materials, an employee must complete amaterials requisition form, which must then be approved by the employee’s immediate supervisor. BrianDadian, an assistant cost accountant, then charges the employee an amount based on Avett’s net purchasecost.Brian is in the process of replacing a deck on his home and has requisitioned lumber for personal use, whichhas been approved in accordance with company policy. In computing the cost of the lumber, Brian reviewed allthe purchase invoices for the past year. He then used the lowest price to compute the amount due thecompany for the lumber.The Institute of Management Accountants (IMA) is the professional organization for managerial accountants.The IMA has established four standards of ethical conduct for its members: Competence, Confidentiality,Integrity and Crediability.These standards are available at the IMA website: www.imanet.org.To find the article within the IMA website, click on Research and Publications, next click on Statements onManagement Accounting. To the left under SMA Topics locate Business Leadership and Ethics. Scroll downuntil you locate the article ” IMA Statement of Ethical Professional Practice”.REQUIREMENT:Using the IMA’s four standards of ethical conduct, evaluate Brian’s behavior. Has he acted in an ethicalmanner? Why?
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