Engaging in unethical accounting practices

Assignment Help Accounting Basics
Reference no: EM13128125

Let's say that you were one of the auditors auditing Enron and you found out that they were engaging in unethical accounting practices and that their financial situation was not as it seemed, What would/should u, as an auditor do? Brief answer...3-5 sentences minimum.

Reference no: EM13128125

Questions Cloud

Find out delta s recorded cost of the new asset : The exchange is deemed to lack commercial substance. Delta pays $500 in cash. Delta s asset has a fair market value of $19,500. Find out Delta s recorded cost of the new asset.
Information about derivatives and tangent lines : Use the definition of the derivative to find f '(x) given Write an equation of the line tangent to the curve at the point P(-1, 7). Express the answer in the form ax + by = c.
By what amount will net income increase : Ajani Company has variable costs equal to 40% of sales. The company is considering a proposal that will increase sales by $10,000 and total fixed costs by $6,000. By what amount will net income increase?
What is the mole percent o2 in the mixture : A gaseous mixture of O2 and Kr has a density of 1.102 g/L at 420 torr and 300. K. What is the mole percent O2 in the mixture?
Engaging in unethical accounting practices : Let's say that you were one of the auditors auditing Enron and you found out that they were engaging in unethical accounting practices and that their financial situation was not as it seemed, What would/should u, as an auditor do? Brief answer...3..
Define conversion is an oxidizing agent : In which conversion is an oxidizing agent required? a. CH3CH2CH2CH3
What is reported and how to disclose the information : The SEC has always wanted and expected more information and disclosure in the financial statements.
Calculate net cash provided by operating activities : Salvador, Inc. reported net income of $2.5 million in 2008. Depreciation for the year was $260,000, accounts receivable decreased $350,000, and accounts payable decreased $280,000. Calculate net cash provided by operating activities using the indir..
First and second partial derivatives : The problem is: Z = X COS Y - Y COS X-Find all of the first and second partial derivatives of this problem.

Reviews

Write a Review

 

Accounting Basics Questions & Answers

  Explain the accounting treatments for notes

Fixed rate notes and bonds have interesting dynamics that respond to various economic factors affecting the market or fair value of those instruments. There are several potential results from the issuance of fixed rate instruments.

  What might have caused caterpillars lifo reserve

For both companies, as of the end of 2009, the existence of a LIFO reserve demonstrates that LIFO inventory is less than it would have been if FIFO had been used. For both companies, compute the ratio of LIFO inventory/FIFO inventory for 2009 endi..

  Basics related to internal auditors

Early in January 2011, the internal auditors for Arkansas Inc. discovered these errors and omissions in their review of the 2010 financial records. Arkansas Inc. has not yet closed its books for 2010.

  Raymond financial services

In May of 2011, Raymond Financial Services became involved in a penalty dispute with the EPA. At December 31, 2011, the environmental attorney for Raymond indicated that an unfavorable outcome to the dispute was probable.

  Post beginning balances in ledger accounts (t-accounts)

Post beginning balances in ledger accounts (t-accounts) from the December 31, 2009 post-closing trial balance. Prepare journal entries to record each transaction for DeeDee's Designs. (A general journal is provided. Multiple pages will be needed.)

  What is the best conclusion

What do you think is George Bush's desired conclusion? Make sure to include the computations of income.  How can the discrepancies in parts (a) and (b), and the motivation difficulties in part (c) be diminished?

  Accounting records reflecting inventories

Dolan Manufacturing Company's accounting records reflect the following inventories:

  Distribution from the partnership

Demarcus is a 50% partner in the DJ partner. DJ has taxable income for the year of $200,000. Demarcus received a $75,000 distribution from the partnership. What amount of income related to DJ must Demarcus recognize?

  Analyzing and journalizing payroll transactions

Kelsey Gunn is the only employee of Arsenault Company. His pay rate is $23.00 per hour with an overtime rate of 1 and 1/2 times for hours over 40 in a work week.

  Evaluate the risk management measures

Describe the risks which are faced by the firm. Evaluate the risk management measures available to firm.

  What should milley do

Jonathan Milley, the accountant for Bling Sound, Inc. has just completed a review of the General Ledger and is about to begin the adjusting process. His boss, Cantsing has asked to speak to him concerning an outstanding accounts receivable from GG..

  What is the impact on not eliminating intercompany payables

What is the impact of not balancing intercompany payables/receivables on a monthly basis? What is the impact on not eliminating intercompany payables/receivables during the consolidation? Is there an instance where either of these two practices wo..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd