You Are a Management Accountant for Burn's Ltd

question 45

Essay

You are a management accountant for Burn's Ltd. Ruth Hamilton, the sales representative for one of Burn's suppliers, invited you to attend a professional sporting event. Because you are an avid sports fan, you accepted Ruth's invitation.
At the sporting event, Ruth begins talking about Burn's upcoming contract renewals with suppliers. Because there is intense competition and because it is the first bid she will submit to Burn's Ltd., she asks you to review her bid to make sure "it is good enough" before she submits it to the company. In addition, because you are knowledgeable about costs, especially regarding this contract, she asks you to tell her if her bid is "in the ballpark" or "needs improvement." She indicates that if she wins the contract, you will be provided with season tickets for the rest of the year.
Considering the Standards of Ethical Conduct for Management Accountants, how would you respond to Ruth's request?

---

Definitions:

Romeo

A character from William Shakespeare's tragedy "Romeo and Juliet," often symbolizing romantic love.

Juliet

A fictional character from Shakespeare's tragedy "Romeo and Juliet," symbolizing young love and tragic romance.

Social Welfare Function

A theoretical framework in economics that represents preferences over social states or outcomes, aiming to aggregate individual utilities into a measure of collective welfare.

Pareto Optimum

A distribution of resources in which it is not feasible to rearrange in a way that improves one person's situation without detrimentally affecting at least another individual's standing.