Ethics in Managerial Accounting: Today’s Challenges in USA

Abstract

While accounting, both financial and managerial, is used worldwide and there are increasing efforts to bring about harmonization among accounting practices within and among nations the, understanding of such practices is still not up to par with expectations. This leads to concerns about standard practices and serious concerns about ethical practices in all forms of accounting. This paper addresses differences between financial and managerial accounting. Since financial accounting is mandated by legal requirements of governments there is more opportunity in managerial accounting for ethical discrepancies and malpractices. This paper also addresses ethical concerns in managerial accounting.