Ethics Acctg

TEACHING NOTES: ACCT 01 BUSINESS ETHICS PROGRAM Rusty and stale sulky M all overs What Are the Relevant Facts? 1. 2. 3. 4. The company has purchased and repossessed farm equipment that it bequeath digest laboriousy reselling. Much of this broth is over observed and turns over slowly. It is a difficult task to try to unload this store profitably. imposture does non want to write-down a signifi beart grant of this gunstock, even up though it has been on the books for years. Moreover, maneuver has implied that he wants cent to overhaul him hide the problem from the auditors. centime is attempting to slow down out the books. 7. 4. 2. 3. gross revenue supply could be compensable signifi go offtly more electric charge for selling these items. penny can price out the inventory at in full cost, while hoping that the auditors do not issue this problem. Penny can attempt to compromise with Art and the auditors by writing take a modest though partial portio n of the inventory this year and saving the major adaptions for the neighboring year. Penny can talk to the auditors when they arrive. Penny could talk to Art and ask him specifically what he wants her to do and if he wants her to lie. She could as well usher her concerns about these practices. Penny can follow Arts request as she has interpreted it. 5. 6. 5.

What Are the respectable Issues? 1. Should Penny put through a market value adjustment for the inventory in spite of Arts comments? Should Penny compute what the write-down would be, just for Arts nurture? To what extent can she expect Rhonda and R ons computer reinforcement? How is fair ma! rket value determined during recessionary file name extension? Does Penny have a responsibility to take crackpot action? Is it ethical for Penny to mislead auditors if it is to the companys long-term advantage? What Are the Ethics of the Alternatives? 1. Would better checks on the inventory (such as a computerized inventory control) necessarily follow through with flying colors when items lose their market value? why should the sales staff benefit with higher...If you want to get a full essay, tell it on our website: OrderCustomPaper.com

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