User Account

All Pages

What would you do as the chief financial officer

Assignment Help Financial Management
Reference no: EM132359906

Question

Carlon et al, 2019, Financial Accounting: Reporting, analysis and decision making, 6th Edition, Chapter 1: BBS 1.8 (p. 92)

As the chief financial officer of Mobile Phones Pty Ltd, you discover a significant misstatement that overstated assets in this year's financial statements. The misleading financial statements are contained in the company's annual report, which is about to be issued to banks and other creditors.

After much thought about the consequences of telling the managing director, Jack Frost, about this misstatement, you gather your courage to tell him. Jack says, 'What they don't know won't hurt them. But just so we set the record straight, we'll adjust next year's financial statements for this year's statement. We can fix it next year when we make more profit. Just don't make that kind of mistake again.'

Required

(a) Who are the stakeholders in this situation?

(b) What are the ethical issues?

(c) What would you do as the chief financial officer?

Reference no: EM132359906

Questions Cloud

Discuss on an organizations accounting methods : Find an article that discusses on an organization's accounting methods (cash-based or accrual-based) is there a real-life example?
Plot the production possibility curve for Joan : ECO10250 - Economics for Decision Making Assignment, Southern Cross University, Australia. Plot the production possibility curve for Joan
Explain the matters that should be communicated to the audit : During your review of the sales accounts at 120340 Ontario Inc., you enquired of management about sales to customer account 23-524.
Should you use the median or mean to describe a data set : Should you use the median or mean to describe a data set if the data are not skewed? Are the standard deviation or the interquartile range factors?
What would you do as the chief financial officer : As the chief financial officer of Mobile Phones Pty Ltd, you discover a significant misstatement that overstated assets in this year's financial statements.
Would prefer to know the increase in mean or median survival : You may read in the newspaper that a study of a new drug for cancer "increased survival by an average of eight weeks." It turns out that this is a median.
How you will use the four functions of management : Describe?how you will use the four functions of management to achieve your performance goals in your current work or volunteer position.
What type of organizational structure : What type of organizational structure is used by your place of employment?
Analyze evolution of social media standards and practices : Analyze the evolution of social media standards and practices and how it relates to the potential need for regulation of social media, along with ethical.

Reviews

Write a Review

Financial Management Questions & Answers

  Foreign company acquisition

Acquisition by a foreign company and the effects of that decision and the results of foreign exchange in Euro and the exchange rate differences.

  Financial management for profit and non profit organizations

In this essay, we are going to discuss the issues of financial management in a non-profit organisation.

  Method for estimating a venture''s value

Evaluate venture's present value, cash and surplus cash and basic venture capital.

  Replacement analysis

This document show the Replacement Analysis of modling machine. Is replacement give profit to company or not?

  Business finance task - capital budgeting

Your company is considering using the payback period for capital-budgeting. Discuss the advantages and disadvantages of this technique.

  Analysis of the investment

In this project, you will focus on one of these: the additional cost resulting from the purchase of an apple press (a piece of equipment required to manufacture apple juice).

  Conduct a what-if analysis

Review the readings and media for this unit, including the Anthony's Orchard case study media. Familiarise yourself with the Anthony's Orchard company and its current situation.

  Determine operational expenditures

Organisations' behaviour is guided by financial data. In the short term, such data will help determine operational expenditures; in the long term, historical data may help generate forecasts aimed at determining strategic plans. In both instances.

  Personal financial management

How much will you have left over each half year if you adopt the latter course of action?

  Sources of finance for expansion into new foreign markets

A quoted company is considering several long-term sources of finance for expansion into new foreign markets.

  Long term financial planning

This assignment is designed for analyze Long term financial planning begins with the sales forecast and the key input in the long term fincial planning.

  Explain the role of fincial manager

This assignment explain the role of fincial manager, function of manger. And what are the motives of financial manager.

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