Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Question- Ethical Issues
Suppose you are controller of a medium-sized gold exploration company in South Australia. You adhere to the standards for ethical conduct for management accountants. How would those standards affect your behaviour in each of the following situations?
1. Late one Friday afternoon you receive a geologist's report on a newly purchased property. It indicates a much higher probability of gold than had previously been expected. You are the only one to read the report that day. At a party on Saturday night, a friend asks about the prospects for the property.
2. A gold industry stock analyst invites you and your wife to spend a week in Broome free of charge. All she wants in return is to be the first to know about any financial information your company is about to announce to the public.
3. It is time to make a forecast of the company's annual earnings. You know that some additional losses will be recognized before the company prepares its final statements. The company's CEO has asked you to ignore these losses in making your predictions because a lower-than-expected earnings forecast could adversely affect the chances of obtaining a loan that is being negotiated and that will be completed before actual earnings are announced.
4. You do not know whether a particular expense is deductible for income tax purposes. You are debating whether to research the tax laws or simply assume the item is deductible. After all, if you are not audited, no one will ever know the difference. If you are audited, you can plead ignorance of the law.
Prepare journal entries that summarize the sales and any aspects of the warranty for 2011 and the warranty for 2012.
Compute the variances for Cajun, materials price variance, materials quantity variance, Labor efficiency or labor rate variance.
The allowance for uncollectible accounts currently has a credit balance of $900. After analyzing the accounts in the accounts receivable subsidiary ledger, the company's management estimates that uncollectible accounts will be $15,000.
If the cost object is an airplane, classify each cost as one of the following: direct material (DM), direct labor, (DL), indirect labor (IL), indirect materials (IM), other manufacturing overhead (other MOH), or period cost.
Calculate the direct material and the direct labour variances and evaluate the company's variances and determine whether or not the changes in suppliers
Cocoa Confections provides you with the following information for the most recent year of operations. The firm informs you that manufacturing overhead equals 150% of direct labor costs. Direct materials beginning inventory $90,000 Direct materials en..
genmed hospital needs to replace its existing mri scanning machine. the hospital is considering funding the purchase by
Write a short essay on how management accounting can help the managers of an organization to run their business efficiently and prepare a report for Johnson explaining the errorshe made in his income statement
Determine the appropriate discount factors using tables and Gull Inc. is considering the acquisition of equipment that costs $510,000 and has a useful life of 6 years with no salvage value. The incremental net cash flows
There were 13,000 units in the ending work-in-process inventory of the Welding Department that were 60% complete with respect to conversion costs. A total of $575,360 in conversion costs were incurred in the department during the month.
Describe the meaning and the components of a financial reporting system, write a description of how management should use an activity based budget instead of an operating budget and explain the similarities and differences of the two budgets
Assume that for the second quarter in row, profits are down at Waterfall division. Division Management budgeted $250,000 in profits for the second quarter but actual results were only $197,000 in profits.
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd