Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. discuss scenario where you apply the accounting co

Discuss scenario where you apply the accounting codes of conduct and your own personal and professional...

50.1K

Verified Solution

Question

Accounting

Discuss scenario where you apply the accounting codes of conductand your own personal and professional code of ethics. I

Answer & Explanation Solved by verified expert
3.9 Ratings (769 Votes)
Financial managers sometimes must choose between adhering to a personal code of ethics and meeting a CEOs demands The ethical issue can be black and white but more often than not there are shades of gray whats legal and accepted isnt always ethical At the very least succumbing to pressure could compromise your personal values At worst you could end up in the soupA CFO and CPA is employed by a private wholesale company and is required by a state to charge sales tax on a sale to a customer but the CPA directs employee not to do so The customer is not registered in the state where the sales tax needs to be charged The CPA feels that no one will catch the missing sales tax money and that he is justified as the President of the Company wants it this way They are both CPAs and regularly do not charge sales tax if the customer says they are exempt but are not registered in the state or other excuses The Controller also a CPA was terminated for objecting to this and his replacement goes along with what the CFO and President say The Organization Code of Conduct the code requires directors key volunteers and employees to observe high standards of business and personal ethics in the conduct of their    See Answer
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

The qualifications for U S president are O 30 years of age U S citizen...

Biology
Q

5 A battery is charged at a potential of 15 V for 8 hours when...

Physics
Q

A uniform cylindrical rod of mass m and density pois having a point mass m...

Physics
Q

Social strategies to reduce stress including

Basic Math
Q

Solve:(4x - 21)/ (x - 6) ? 3x ? ___________ (Enter your answer in INTERVAL...

Calculus
Q

Early in the year Bill Sharnes and several friends organized a corporation called...

Accounting
Q

The Tanner Company has provided the following information after year-end adjustments Allowance for doubtful accounts...

Accounting
Q

On 12/31/14, the Cheboygan Company paid $4,000 of prepaid insurance and expensed the entire amount....

Accounting
Q

The following section is taken from Oriole Company's balance sheet at december 31, 2021. Current...

Accounting
Q

The directors of Helena Beauty Products Ltd have been presented with the following abridged financial...

Accounting
Q

Suppose selected financial data of Target and Walmart for 2022 are as follows (in millio...

Accounting
Q

2.- Calculate the next integral: ebtk In x dx a+k 2.a.- Calculate the integral by...

Accounting