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Preparing financial statements at the end of the year

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Question 1: When preparing financial statements at the end of the year, you notice that this year's profit is lower. You know that by purposely understating certain expenses, you can falsely report higher profits to the owner for this year. That will allow you to keep your job for at least one more year and look for a new job in the meantime.

Question 2: What should you do? What if you really believe the lower profitability is caused by factors outside your control? Would this make the false reporting acceptable?

Reference no: EM132559449

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