Are there any laws for managerial accounting and if there ar

Are there any laws for managerial accounting and if there are how will help organizations today?

Solution

Are there any laws for managerial accounting and if there are how will help organizations today ?

Yes there are laws for Managerial Accounting as well as there are laws for other accountants. These laws were made and run by The Institute of Management Accountants (IMA) which is a professional organization. This IMA is responsible for creating managerial accounting guidelines and strictly follow the rules set by providing ethics for licensed accountants, and non-licensed accountants as well. The principles are based on transperency, honesty, fairness, objectivity and responsibility. IMA members must use these ethical principles when engaging in accounting services for their company and the general public.