Hoger have to gain by advocacy of early implementation

Assignment Help Accounting Basics
Reference no: EM131792948

When the IASB issues new standards, the implementation date is usually twelve months from the date of issuance, with early implementation encouraged. Becky Hoger, controller, discusses with her financial vice president the need for early implementation of a standard that would result in fair presentation of the company's financial condition and earnings. When the financial vice president determines that early implementation of the standard will adversely affect the reported net income for the year, he discourages Hoger from implementing the standard until it is required.

a) What, if any, is the ethical issue involved in this case?

b) Is the financial vice president acting improperly or immorally?

c) What does Hoger have to gain by advocacy of early implementation?

d) Who might be affected by the decision against early implementation?

Reference no: EM131792948

Questions Cloud

What similar organizations can be used as a benchmark : What are some of the workforce trends that this organization needs to address? What similar organizations can be used as a benchmark?
Describe the opportunities for further inquiry : Write an Annotated Bibliography about Sustainability and Community participation. Describe the Opportunities for further inquiry.
Compare and contrast development and evaluation of positive : Compare and contrast the development and evaluation of positive accounting theories with normative accounting theories
Journalize the transactions and closing entry for net income : Preferred Stock (8%, $50 par, cumulative, 10,000 shares authorized) $ 400,000. Journalize the transactions and the closing entry for net income
Hoger have to gain by advocacy of early implementation : What does Hoger have to gain by advocacy of early implementation
How should mask account for the purchase and sale : How should Mask account for the purchase and sale of the treasury stock, and how should the treasury stock be presented in the balance sheet
Calculate the capacity of each machine center : Calculate the capacity of each machine center and the capacity of the system. Suggest ways Beck can expand capacity without purchasing new equipment.
Determine cost of completed and transferred-out production : Determine the cost of completed and transferred-out production and the ending work in process inventory
Determine amount of depreciation each year for book purpose : Determine the amount of depreciation each year for book purposes and tax purposes

Reviews

Write a Review

Accounting Basics Questions & Answers

  Determine the total payroll liability for bravo zulu

Overtime in excess of 40 hours must be paid at 150% of the normal hourly rate. determine the Total Payroll Liability for Bravo Zulu

  Prepare adjusting entries that the company must record

Tanger rents a building from its owner for $3,200 per month. By a prearrangement, the company delayed paying October's rent until November 5.

  Common-mode input resistance

For this transistor, and those used in the differential pair, VA =20 V and β =50. What common-mode input resistance Would result? Assume RC «ro.

  A company had net cash flows from operations of 71400 cash

a company had net cash flows from operations of 71400 cash flows from financing of 354000 total cash flows of 267750

  What are some of the skills and capabilities

What are some of the skills and capabilities that one needs to possess to "get away" with a fraud

  On july 1 2010 alice hanna decided she needed a new car she

on july 1 2010 alice hanna decided she needed a new car. she went to the local auto dealer and agreed on a price of

  Sanchez company acquired a piece of machinery and signed

On October 30, 2010, the Sanchez Company acquired a piece of machinery and signed a 12 month note for $24,000.

  What is the companys asset turnover ratio

McDonald’s Corporation reports total average assets of $28.9 billion and net sales of $20.5 billion. What is the company’s asset turnover ratio?

  What is the maximum increased advertising cost

The marketing vice president feels that if the company increased its advertising, sales could be increased by 25%. What is the maximum increased advertising cost the company can incur and still report the same income as before the advertising expe..

  Determine the gross pay for the week

An employee earns $20 per hour and 1.75 times that rate for all hours in excess of 40 hours per week. Assume that the employee worked 50 hours during the week.

  The production budget shows expected unit sales of 32000

the production budget shows expected unit sales of 32000. beginning finished goods units are 5600. required production

  Prepare a vertical analysis of income statement

The financial information for two competitors, JibraiI Bhd and Mikail Bhd, Prepare vertical analysis of income statement data for the year 2016 for Jibrail Bhd

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd