Based on your future career in accounting, develop a scenario for managers, relevant to the accounting...

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Accounting

Based on your future career in accounting, develop a scenariofor managers, relevant to the accounting industry, illustratingwhich behaviors are ethical and which are not, then briefly discussthese. (2-3 examples which behaviors are ethical and 2-3 examplesof unethical behaviors)

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Scenario planning is a system for deriving and examining a set of distinctly different futures The intent of scenario planning is to build a number of plausible future outcomes that vary from the most commonlyaccepted scenario A business can then create contingency plans for how to deal with each of these alternative futures The outcome can be used within the budgeting process or to manage risk Scenario planning is usually developed in a workshop setting by the senior managers of a business sometimes in conjunction with outside experts who can contribute additional information about the industry competitive pressures and other factors that could lead to alternative scenarios Scenario planning can have the following positive benefits Once managers have discussed alternative futures they are more likely to see the warning signs associated with these futures unfolding at a later date Managers can develop highlevel plans for the actions to be taken if one of these scenarios becomes real Managers can face their own ingrained prejudices regarding why they consider certain outcomes to be more or less likely to occur The general process flow for scenario planning is as follows Come to an agreement about the future time period over which the analysis will be conducted Itemize the key factors driving competitive advantage in the industry Identify the key uncertainties in the See Answer

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