Ethics in accounting is related to how to make good and moral choices in relation to preparation, presentation and disclosure of financial information. There are two alternatives in front of chief accountant as given below.
1. Go against his boss and write off the inventory in year 2015. He can try to explain him the benefits of true and fair reporting and negative consequences of fraudulent reporting. Fraudulent reporting will attract him the penalties, and may result in imprisonment. In case the boss does not agree, he shall do whatever is correct as per accounting policies and procedures.
2. The next option is to go against the ethics and principles and obey his boss