User Account

All Pages

Analyze gaap and ethical implications of reporting method

Assignment Help Accounting Basics
Reference no: EM131404617

Assignment: Inventory Valuation Methods and Ethical Considerations

Activity Context

Revisit the Course Alignment Map to review how all activities assist you in achieving the course competencies and overall program outcomes.

Activity Instructions

Net income results, reported in the financial statement presentation, can be affected by the inventory reporting methods used. FIFO, LIFO, and weighted average methods each have their own implications during periods of inflation and deflation. Assume the role of a manager, employee, or an investor, and in 1-2 pages analyze the GAAP and ethical implications of each reporting method in a hypothetical company. Then, given your role, select which reporting method you would use, and explain why. Consider tax liabilities and profit levels in your response, as well as ethical considerations you may have for your valuation method selection.

Submission Requirements

• Written communication: It should be free of errors that detract from the overall message.
• APA formatting: Resources and citations are formatted according to APA (6th edition) style and formatting.
• Length of paper: 1-2 pages, not including cover page and references.
• Font and font size: Times New Roman, 12-point.

Refer to the scoring guide for this assignment to ensure that you meet all of the grading criteria before submitting your document for instructor feedback and evaluation.

Reference no: EM131404617

Questions Cloud

Find the cumulative relative frequency for each class : One branch of a bank has 849 customers who have credit balances in a certain type of current account. The sizes of the balances in these accounts, to the nearest £, have been arranged in the following grouped frequency distribution
Explain the specific risks benefits and internal controls : Describe the different kinds of fraud andthe Fraud Triangle, an auditor's responsibility to identify and assess fraud. Describe the specific risks, benefits, and internal controls associated with IT functions.
Calculate the cumulative frequency for each class : Draw a histogram to portray this distribution and comment on the shape of the distribution.
Discuss the ethical implications of the internal controls : MBA6014- Search Web sites like those of the New York Times and the Wall Street Journal. Then write a 1-2 page analysis of the particular situation, and discuss the ethical implications of the internal controls in that context.
Analyze gaap and ethical implications of reporting method : MBA6014- Assume the role of a manager, employee, or an investor, and in 1-2 pages analyze the GAAP and ethical implications of each reporting method in a hypothetical company.
Find the cumulative frequency for each class : Plot a histogram to portray this distribution and comment on the shape of the distribution.
Calculate the residual for given individual : Suppose a man in this age group is 72 inches tall. Use the regression equation given in the previous exercise to predict the weight of this man.
Find values for the mean and median of the distributions : Find an approximate value for the standard deviation of each distribution.
What is the slope of the regression line for average weight : What is the slope of the regression line for average weight and height? Write a sentence that interprets this slope in terms of how much average weight changes when height is increased by 1 inch.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Problem regarding the customer relationship management

Cermco produces and sells specialty customer relationship management (CRM) solutions to small and medium-size businesses in the United States and Canada. The company is more than 20 years old and has a steady, loyal customer base.

  Capital cities abc inc bonds with a par value of 1000 that

you have finally saved 10000 and are ready to make your first investment. you have the three following alternatives for

  Advantages and disadvantages of banks offering

What are the advantages and disadvantages of each bank's offering? Which bank and cash management service would you choose? Why? How can using a bank's cash management service reduce opportunity cost for a health care organization?

  Reichenbach co organized in 2009 has set up a single

reichenbach co. organized in 2009 has set up a single account for all intangible assets. the following summary

  Subjective estimate of the uncertainty in the estimate

Circuit breaker A mechanical life test of 18 circuit breakers of a new design was run to estimate the percentage failed by 10,000 cycles of operation. Breakers were inspected on a schedule, and it is known only that a failure occurred between cert..

  Accounting data used to make business decisions

You have been hired as the CFO of a new company and are determining the companies accounting needs. The first question you answered which was Explain to your staff at least 2 ways in which accounting data are used to make business decisions.

  The normal balance of the specific account

Selected transactions for D. Reyes, an interior decorator, in her first month of business, are as follows.

  Fleming corporation produces leather purses the company is

fleming corporation produces leather purses. the company is setting up a standard cost system and has collected the

  Russell corporation sells three different models of

russell corporation sells three different models of mosquito zapper. model a12 sells for 54 and has variable costs of

  A company aquires 1600 cash from creditors and 1800 from

a company aquires 1600 cash from creditors and 1800 from investors. if the company has a net loss of 1600 cash then

  Accounting data and financial processes

Accounting and __________ components manage accounting data and financial processes within the enterprise with functions such as general ledger, accounts payable, accounts receivable, budgeting, and asset management.

  Explain the impact that a companys code of conduct can hav

Evaluate the impact that a company's code of conduct can have on promoting positive employee behavior, improved decision making, or the willingness to report unethical behavior of coworkers.

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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