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Ethical decisions in accounting week 8 assignment

Ethical decisions in accounting week 8 assignment.

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Ethical decisions in accounting week 8 assignment

WEEK 8 ASSIGNMENT – ETHICAL DECISIONS IN ACCOUNTING Week 8 Assignment – Ethical Decisions in Accounting Scenario Paige Carter is the controller for a public organization in Nashville, TN. She has just completed a meeting with the organization’s CFO, Tommy Rich. Tommy Rich tried to convince Paige to classify some inventory items as fixed assets in an attempt to depreciate more assets for the upcoming accounting reporting period. Secondly, Tommy Rich’s proposal would depreciate more assets by misclassifying inventory as fixed assets in an attempt to reduce net income. Additionally, Paige knows it is her responsibility to ensure that all items on the organization financial statements are recorded properly as required by the FASB and the AICPA Professional Code of Conduct.

She has a great deal of pressure to reduce net income to reduce corporate income taxes and qualify for a company bonus. She does not want to disappoint the CFO, and also her job may be at stake. What would you do in this case? Why?
What is Paige’s obligation to the organization, AICPA professional rules of conduct and additionally reporting requirements? Discuss the differences between inventory and also fixed assets. Are the characteristics the same? Why or why not? What would motivate you to speak up? What would cause you to stay silent? Would it make a difference if this was only a one-time request from the CFO?

Ethical decisions in accounting week 8 assignment

Instructions Prepare an 8–9 slide PowerPoint presentation in which you: Slide 1: Include the title “Paige Carter and the CFO,” the date, course name and number, date of submission, and your professor’s name. 2 . Slide 2: Summarize the scenario for the CFO. 3. Slide 3: Outline the advantages of accurate reporting and why inventory should or should not be classified as a fixed asset. 4. Slide 4: Outline the disadvantages of accurate reporting and also why inventory should or should not be classified as a fixed asset. Slide 5: List the major differences between inventory and fixed assets. 6. Slide 6: Show the primary ways in which both classifications would affect the future of the business. (why should we classify inventory and also fixed assets in the same account or separate accounts?). Slide 7: Recommend which option they should pursue.

Justify your reporting decision. Slide 8: Sources – Use two sources to support your writing. Choose sources that are credible, relevant, and also appropriate. Cite each source listed on your source page at least one time within your assignment.

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Ethical decisions in accounting week 8 assignment

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