When the financial vice president determines that early

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Reference no: EM13581154

When the FASB [Financial Accounting Standards Board] issues new standards, the implementation date is usually 12 months from the date of issuance, with early implementation encouraged. Paula Marshfield, controller, discusses with her financial vice president the need for early implementation of a standard that would result in a fairer presentation of the company's financial condition and earnings. When the financial vice president determines that early implementation of the standard will adversely affect the reported net income for the year, he discourages Mansfield from implementing the standard until it is required.

Discuss:

What, if any, is the ethical issue involved in this case?
Is the financial vice president acting improperly or immorally?
What does Marshfield have to gain by advocacy of early implementation?

Reference no: EM13581154

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