This discussion focuses on the core value of Integrity. Students should be able to describe how this fits in with the field of Managerial Accounting.
Explain how Saint Leo’s core value of Integrity is relevant to Managerial Accounting.
Post by classmate 1
Core value of Integrity.
Integrity means being honest and having strong moral principles. A person with integrity behaves ethically and does the right thing, even when working independently or without supervision.
Core value fits in with the field of Managerial Accounting:
Management accountants work for public companies, private businesses, and government agencies. Their duties include recording and crunching numbers, helping to choose and manage company investments, risk management, budgeting, planning, strategizing, and decision making.
Management accountants need to have integrity as they provide a service and their reporting is a decision factor for company’s actions to take that can change the future of the company such as investments, cutting cost, etc. Being ethical and doing the right thing promotes transparency and trust.
Saint Leo’s core value of Integrity relevant to Managerial Accounting:
“Saint Leo University’s commitment to excellence is dependent on the pledge of its faculty, staff, and students to be honest, just, and consistent in word and deed.” Saint Leo’s core values of integrity are relevant to Managerial Accounting as sets a great example and to leads to be good stewards of the public trust and ensuring the resources of our organization are well protected and are used efficiently to accomplish the goals of the organization.
Managing school finances, budgets required integrity, honesty, and transparency for all stakeholders. It creates a welcome culture to attract potential students and employees so with that said having core values of integrity will allow us to better succeed in our managerial activities and decision making which are important parts of Managerial Accounting. So for this reason we trust that Saint Leo’s core value of Integrity is relevant to Managerial Accounting.
References:
Retrieved from: https://www.saintleo.edu/about/mission-values#toc-core-values
Fontinelli, A. June 25, 2022. What Do Management Accountants Do? https://www.investopedia.com/articles/professionals/041713/what-management-accountants-do.asp
Post by classmate 2
Saint Leo’s Core Value of Integrity states as follows: Saint Leo University’s commitment to excellence is dependent on the pledge of its faculty, staff, and students to be honest, just, and consistent in word and deed.
The messaging in this statement aligns with characteristics that are expected and necessary in persons that perform managerial accounting. Integrity is especially important for accountants because they may very well be the driving force of how a company’s money is managed. “They have an obligation to follow the highest standards of ethical responsibility and maintain a good professional image.” Managerial accountants should be thorough in providing accurate numbers without altering figures for ulterior motives or personal gain; as well as mitigate any possible conflicts of interest. This demonstration of honesty in their performance promotes trust. Senior leaders, investors, and other stakeholders can trust that they will do the right thing, regardless of other influential forces.
References:
https://www.accountingverse.com/managerial-accounting/introduction/code-of-ethics.html
https://www.saintleo.edu/about/mission-values#toc-core-values