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How do think fasb feels about timing manipulations

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Reference no: EM132956968

Your assignment is to indicate how many different ways you can think of to shift profits between quarters or to arbitrarily report profits.

Problem 1: Consider that you are Conglomerate Corporation's outside auditor performing a quarterly review and you become aware of these practices and the directive of the president, would you require disclosure of these shifting practices in the quarterly financial report? Why or why not?

Problem 2: How do you think FASB feels about timing manipulations for the purpose of hitting projection goals?

Reference no: EM132956968

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