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Corporate ethics and fraud have received much media attention through reporting of scandals at major corporations. You have been hired as an outside advisor to Salem Corporation to make sure that its financial reporting and tax reporting are of the highest ethical standards. So that you understand the types of ethical misconducts that corporations are subject to and the penalties that can be given when uncovered, use the Internet to research and discuss the following:
Cases in the past 15 years or so where corporations have committed unethical business practices and the resulting consequences.
Ethical standards for corporations
Recent changes to financial and reporting laws to take into account ethical standards as a result of the earlier corporate scandals
The well-organized, well-written memorandum to your client should be approximately 500 words. Be sure in your memorandum to discuss and apply the federal Sarbanes-Oxley Act (and some of the cases that led to its enactment) and the IMA ethical code of standards.
Prepare a multiple-step income statement for 2010 for Howell Corporation that is presented in accordance with generally accepted accounting principles (including format and terminology).
Using the allowance method, the uncollectible accounts for the year is estimated to be $28,000. If the balance for the Allowance for Doubtful Accounts is a $7,000 credit before adjustment, what is the amount of bad debt expense for the period?
calculate the return on equity from the information.selected information for henry company is as
Undersymington Company has an opportunity to invest in a machine that would cost $28,000, and that would produce cost savings of $8,000 each year for the next five years. The machine has zero salvage value. What is the internal rate of return?
Which method of payment do you recommend, assuming an expected effective interest rate of 8% during the future period?
Explain what is meant by the GAAP terms recognition and earned and Based on your research, explain why revenue recognition is an area of significant concern as it relates to ethical behavior of management.
multiple choice questions in accounts fundamentals1.the matching rule relates to credit losses by stating that bad debt
q1. which is not reported as an operating activity on a cash flow statement prepared using the indirect method?a.
How much higher would the companys first-year net income have been if absorption costing had been used rather than variable costing? Show computations.
Its owners' equity totaled $2,500,000. Based on these amounts, what is firm's return on owners' equity?
journal entries for prepaid expenses- insurance.prepaid expenses- insurancea use the horizontal model or write the
question with this case a comparison is made in between three firms in dissimilar industries using net profit margin
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