User Account

All Pages

What violation of ethics has occurred

Assignment Help Accounting Basics
Reference no: EM132952778

Question - You are the head of the Accounting Department in a medium size company. The company has experienced a decline in sales in the current year and facing a net loss. Near the end of the business year, in an attempt to increase/boost profits, top company executives ask you to initiate and document the shipment of a large portion of company inventory to another company in a distant city.

You are to record the shipment as a sale, even though you know that the other company will return the inventory shortly after the year end.

1. What violation of ethics has occurred?

2. What ethical dilemma do you face- if you agree to the proposed plan?

3. What result might occur if you refuse to go along with the plan?

4. What would you do?

5. Assume it is a public company? Assume it is a private company? Would your response be different?

Reference no: EM132952778

Questions Cloud

Find how many performance obligations exist in the contract : Nonrefundable initiation fee to compensate for the administrative tasks to register the customer. How many performance obligations exist in the contract?
Compute project a payback period : Project A is expected to yield annual net income of $20,500 per year for the next five years. Compute Project A's payback period
Calculate the sales for month using simple moving average : In a textile company that manufactures uniforms for health workers, it is necessary to know the sales projections for the next month; This is how your raw mater
Manage hospitality operations in a changing environment : Manage hospitality operations in a changing environment to improve business performance - business performance of a hospitality enterprise
What violation of ethics has occurred : You are to record the shipment as a sale, even though you know that the other company will return the inventory shortly. What violation of ethics has occurred
Transportation model and assignment modelq : What is the role that input data plays in each of these models? How important is accuracy and why is it important?
How much revenue from franchise fee be recognized : Pasta Inn charges an initial fee of P1,600,000 for a franchise, How much revenue from franchise fee be recognized when the agreement is signed?
How can risk managers assist in reducing financial risk : How can risk managers assist in reducing financial risk? Site one example and discuss.
What the amount remitted to ts co for the month is : What the amount remitted to TS Co. for the month is? TS Trading consigned 100 beds costing P600 each to PP Company. The advertised selling price is P1,000 each

Reviews

Write a Review

Accounting Basics Questions & Answers

  What is the retail method

Questions are uploaded as attachments.

  Prepare journal entries to record each of given transactions

Prepare journal entries to record each of the following transactions of a merchandiser. Show supporting calculations and assume a perpetual inventory system.

  What is an accounting period

What is an accounting period?

  Determine multiple-step income statement for coa corporation

Prepare a condensed multiple-step income statement for COA Corporation

  Discuss what were the total mix and yield variances

What were the total mix and yield variances for the month of July

  Preparing a process explanation

Question 1: In preparing a process explanation, the step of __________ forms the basis (backbone) of the process explanation and aids in designing visuals.

  Total fixed costs

Assume a company sells a given product for $143 per unit. How many units must be sold to break-even if variable selling costs are $29 per unit, variable production costs are $40 per unit, and total fixed costs are $1,357,900? 9,496 units. 12,345 unit..

  Prepare and describe each incorrect assumption

Prepare and describe each incorrect assumption, statement and/are inappropriate application in the above procedures

  Which of the following is a change in

which of the following is a change in estimate?1a change from thefull costing method in the extractive industries.2a

  What is the objective of financial reporting

List the 3 essential characteristics of FINANCIAL accounting & How does it differ from with Managerial acct. What is the objective of financial reporting

  What is Ron taxable gain as a result of this transaction

Mary received her stock for services rendered. She normally would bill $20,000 for these services. What is Ron's taxable gain as a result of this transaction

  The following data are based on information

The following data are based on information in the 2010 annual reports of H&R Block, Inc. , and Jackson Hewitt Tax Services, Inc. Dollar amounts are in thousands.

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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