devry acct601 week 3 you decide assignment

Question # 00077728 Posted By: spqr Updated on: 06/25/2015 10:31 AM Due on: 07/25/2015
Subject Accounting Topic Accounting Tutorials:
Question
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Scenario

Scenario Summary

You have been invited to attend a meeting where your immediate supervisor will be presenting a draft of detailed financial projections to the chief financial officer and a subsequent meeting with the company president. You've not been involved in the preparation of the analysis thus far but understand that you might have some tasks delegated to you after the meeting. In addition, you realize that the company is at a critical juncture from issues such as high attrition of the accounting staff, current economic conditions, and increased competition.

Your Assignment

You have recently been hired in the fairly small accounting department of a corporate business. The department is so small, in fact, that you may be called on at times for tasks ranging from simple bookkeeping, to preparation of financial statements and projections, and to perhaps even filling-in on the internal audit staff. One of your first responsibilities is to assist a senior level accountant with a detailed financial projection after input from the chief financial officer and the president of the company.

KEY PLAYERS

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Transcript

YOU DECIDE

Activity or Assignment

Assignment

You need to draft a summary of how you will handle the situation. Specific questions that should be addressed are:

  • Do you feel that there might be an ethical issue present? For the moment, assume that no laws have been broken and just focus on any possible ethical issues.
  • If you were going to report a suspected ethical issue, how would you do so? For instance, to whom would you report? Would you discuss the matter with anyone first?
  • Would the manner in which you respond vary depending on whether this corporation was privately held or publicly traded?
  • Does the fact that you have only been recently hired play into your decisions?
  • What possible sources of guidance might be available from a professional organization and/or your state’s regulatory body overseeing the accounting profession?
  • Lastly, please assume that you suspect that some state or federal laws have been broken. The problems might be beyond just a possible ethical issue, in other words. Would this change your handling of the situation?
After reading through the You Decide activity and considering the questions listed here, please prepare a paper in APA format. The paper should include responses to the specific questions posed above, but you may include other points if you so desire. The paper should be double-spaced, 11-point or 12-point type, and between 750 and 1,000 words (three to four pages).
CategoryPointsDescription
Understanding20Demonstrate a strong grasp of the problem at hand. Demonstrate understanding of how the course concepts apply to the problem.
Analysis20Apply original thought to solving the ethical problem. Apply concepts from the course material correctly toward solving the ethical problem.
Execution10Write your answer clearly and succinctly using strong organization and proper grammar. Use citations, if any, correctly.
Total50A quality paper will meet or exceed all of the above requirements.
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Tutorials for this Question
  1. Tutorial # 00072446 Posted By: spqr Posted on: 06/25/2015 10:31 AM
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    you report? Would you discuss the matter with anyone first?...
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