Discuss whether controller is behaving in an ethical manner

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Reference no: EM132951613

Problem 1: During the preparation of a bank reconciliation, the assistant controller discovered that the Bank incorrectly recorded a $3290 check as $329. The controller has decided not to notify the bank but wait for the bank to detect the error. The controller plans to record the $2961 error as "Other Income" if the Bank fails to detect the error within the next three months. Please discuss whether the controller is behaving in an ethical manner.

Problem 2: How are cash equivalents reported in the financial statements? Please list two examples of cash equivalents.

Reference no: EM132951613

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