Adversely affect the reported net income for the year

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Reference no: EM131217303

Accounting Ethics When the FASB issues new standards, the implementation date is often 12 months from date of issuance, and early implementation is encouraged. Becky Hoger, controller, discusses with her ?nancial vice president the need for early imple-mentation of a standard that would result in a fairer presentation of the company’s ?nancial condition and earnings. When the ?nancial vice president determines that early implementation of the standard will adversely affect the reported net income for the year, he discourages Hoger from implementing the standard until it is required.

Required:

A. Who might be affected by the decision against early implementation? (CMA adapted)

Reference no: EM131217303

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