A friend of yours who is not an accountant heard a story on

Assignment Help Financial Accounting

Reference no: EM13379667

A friend of yours who is not an accountant heard a story on the news about revenue recognition fraud and doesn't understand what that means.

Research the Internet to find a relevant article about revenue recognition fraud from an accounting publication or authoritative source regarding revenue recognition fraud.

• Based on your research, explain what is meant by the GAAP terms recognition and earned.

• Based on your research, explain why revenue recognition is an area of significant concern as it relates to ethical behavior of management.

• If you were in the situation described, explain to your friend what you would have done to prevent or remedy the revenue recognition fraud.

• Include in-text citations and references where appropriate

• Understand the concepts of income, explain the conceptual guidelines for reporting income, and define the elements of an income statement.

• Discuss the impact of technology on business and effective communication techniques and recognize situations that present potential ethical and legal issues and develop solutions for those issues.

• Understand capital markets and decision making, explain what is included in financial reporting, and discuss generally accepted accounting principles (GAAP) and the sources of GAAP.

Reference no: EM13379667

Questions Cloud

You are to complete the following taskfor each of the : you are to complete the following taskfor each of the following errors describe to a recently hired bookkeeper how it

It is the end of a reporting period because there are more : it is the end of a reporting period. because there are more people than usual retiring this year your manager has asked

A quaint but well-established coffee shop the hot new cafe : a quaint but well-established coffee shop the hot new cafe wants to build a new cafe for increased capacity. define the

Consider the following scenariolucy shafer wants to borrow : consider the following scenariolucy shafer wants to borrow 100000 to expand her dog-breeding business. she is preparing

A friend of yours who is not an accountant heard a story on : a friend of yours who is not an accountant heard a story on the news about revenue recognition fraud and doesnt

Question 1 an employer provides taxable fringe benefits of : question 1 an employer provides taxable fringe benefits of 11000 gst inclusive for hisemployees during the relevant

Transactional analysis problem scenario use following : transactional analysis problem scenario use following scenario and transactions to complete the activities below. on

More limited produces four types of electric motors type x : more limited produces four types of electric motors. type x and y are sold by the business to external customers. the

On july 1 2010 linux corporation a wholesaler of : on july 1 2010 linux corporation a wholesaler of electronics equipment issued 45000000 of 10-year 10 bonds at an

User Account

All Pages