acc540 module 7 discussion latest 2017

Module 7 discussion

Consider management’s responsibility when it comes to the use of estimates (e.g., estimated uncollectibles, percentage-of-completion method, life of an asset, etc).

Describe the incentives management has to misrepresent estimates.

With the core values of responsible stewardship and integrity in mind, discuss controls and procedures companies can put in place to prevent misrepresentation of these estimates.