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Medi-Supply is a small business that sells medical supplies to local hospitals. Medi-Supply has retained the services of XYZ Corporation to evaluate the company, build financial statements for potential investors and help ensure that, Medi-Supply, stays on track on meeting their goals and avoid as much risk as possible. I have been assigned to this client and it will be my job to help provide the services that they are requesting and at the same time provide a game plan for Medi-Supply that they can follow easily and thoroughly.
Problem 1: Explain how Medi-Supply can avoid unethical practices in its financial reporting methods?
Problem 2: Also could you provide information on handling material non-public information correctly, developing an internal process for reporting unethical activities, reporting revenue appropriately, showing accurate debt with balance sheets that are balanced, and avoiding hidden reserves. Additionally, describe at least two other unethical financial reporting methods that could impact customers or shareholders.
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