Reference no: EM13183516
1- Please review the AICPA Code of Professional Conduct. Choose one of the sections and summarize it in a posting of at least 100 words. Please comment on at least two classmate's postings.
2- What are some possible motivations that a company might have to either understate or overstate the amount of depreciation expense that it records for a given period? How might a financial analyst detect deliberate distortions by management? What other parties do you think should be monitoring the actions of management to prevent such distortions?
3- Sam Roberts, CPA, is hired as the director of the Corporate Tax Department of Landry Corp., a publicly traded corporation. During his initial review of the company, he notices that differences between book and tax depreciation on fixed assets result in a sizeable deferred tax liability. Sam also learns that the Landry Corporation has a policy of selling the fixed assets before their tax liability reverses. This policy, in conjunction with increasing fixed asset investments, allows Landry to defer income taxes payable for several years.
Answer the following questions:
a- Why would Landry Corp. have a policy of selling assets before the temporary differences reversed?
b- What do you see as the ethical issues, if any, associated with this practice?
c- If you were Sam, what would you do in this situation?
4- What are the ethical and accounting ramifications of incorrectly capitalizing an item? Find a recent example of this practice in the news and summarize your findings. Be sure to include with your summary a discussion of Regis' mission of "...encouraging the continual search for truth, values, and a just existence," and answering the question "How ought we to live?"
|
What is the impact of a drop in exports on us gdp
: If the European slump also leads to a slowdown of the other economies that import goods from the United States, the effect could be larger. Assume that US exports decrease by 5% (as a result of changes in foreign output) in one year. What is the ..
|
|
How would you prefer to receive your prize
: You have won the lottery. There are two ways which you can receive your prize. You can either have 1 million in cash now, or you can have 1.2 million that is paid out as follows: $300,000 now, $300,000 in one year's time, $300,000 in two years' ..
|
|
Determine the concentration of total dissolved solids
: The sample is placed in a drying dish (weight = 0.5000 g before the sample is added), and then placed in an oven at 104°C until all the moisture is evaporated
|
|
Calculate the marginal product by dividing the change
: In the long run, the Martha Mowers can assemble 300 mowers per week at a total cost of $18,000, 400 mowers at a total cost of $24,000, or 500 mowers at a cost of $35,000.Plot points of the long-run average cost curve for these three levels of outp..
|
|
What are the ethical and accounting ramifications
: What are the ethical and accounting ramifications of incorrectly capitalizing an item? Find a recent example of this practice in the news and summarize your findings.
|
|
Determine the percentage of iron in potassium permanganate
: potassium permanganate was used to determine the percentage of iron (Fe, At weight: 55.845? in an ore sample. the procedure included dissolving the iron wiht HCl and then converting all the iron in the ore to Fe2+ using several reagents.
|
|
Explain polycyclic aromatic hydrocarbons
: Polycyclic aromatic hydrocarbons (PAHs) are a class of organic chemicals associated with the combustion of fossil fuels. Undeveloped areas may have total PAH soil concentrations of 5 µg/kg
|
|
Why firms with market power engage in price discrimination
: Assume that a profit-maximizing monopolist currently produces and sells 100 units of good X at a price of $10 per unit. If average total cost and marginal cost are constant at $5 per unit, which of the following government policies will most likel..
|
|
When the price discrimination occurs
: Price discrimination occurs when a.the supply of the product is elastic b.a product's average cost is greater than its average revenue c.a product's average cost is less than its average revenue d.differences in a product's price reflect differences ..
|