Determine the key internal and external stakeholders

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Reference no: EM132466560 , Length: 3

Effective financial reporting depends on sound ethical behavior. Financial scandals in accounting and the businesses world have resulted in legislation to ensure adequate disclosures and honesty and integrity in financial reporting. A sound economy is contingent on truthful and reliable financial reporting

Question 1: Consider what you have learned relative to ethics and financial reporting. What is the rationale for the calculations/process used to estimate the $180,000 uncollectible allowance?

Question 2: How do you think the misstatement of funds will impact the income statement and balance sheet?

Question 3: What is the ethical dilemma you face? What are the ethical considerations? Consider your options and responsibilities as assistant controller.

Question 4: Identify the key internal and external stakeholders. What are the negative impacts that can happen if you do not follow the instructions of your supervisor?

Question 5: What are the potential consequences if you do comply with your supervisor's instructions? Who will be negatively impacted?

Reference no: EM132466560

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