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Ethical Dilemma: ethics and Financial Reporting
Beacon Systems develops computer software and licenses it to financial institutions. The firm records revenues from the software it has developed on a percentage of completion basis. For example, if a project is 50 percent complete, then 50 percent of the contracted revenue is recognized. Preliminary estimates for a $7 million project now in development are that the project is 75 percent complete. Estimates of completion are a matter of judgment, and management therefore feels justified in asking for a new report showing that the project is 90 percent complete. The change will enable senior managers to meet their financial goals for the year and thus receive substantial year-end bonuses. Do you think management's action is ethical? If you were the company controller and were asked to prepare the new report, would you do it? What action would you take?
List and describe the four perspectives of the Balanced Scorecard and what steps would you encourage him or her to take in order to successfully implement and use the Scorecard?
Advise managers whether or not this contract is profitable. All assumptions must be clearly stated.
Oriole, Inc. is a large consumer Products Company, which manufactures health and beauty products sold at grocery and drug stores throughout the country. One division, PS, does both manufacturing and shipping and operates a warehouse and transportatio..
Canandaigua Container Company manufactures recyclable soft-drink cans. A unit of production is a case of 12 dozen cans. These following standards have been set by the production-engineering staff and the controller.
What are the ethical issues and what is your recommendation to the financial officer of your company
Fee paid to security company for monthly service - Identify the costs as variable (V), fixed (F), or mixed (M).
Compute the equivalent units for direct materials and conversion costs for December. Compute the unit costs for direct materials and conversion costs. Compute the cost of units completed for December.
As a manager, you may be tasked with making recommendations as to how your organization should structure its transfer pricing. This is especially true in cases when both variable or full cost transfer pricing is acceptable, and the choice is not obvi..
Beta Company produces two products, A and B, each of which uses materials X and Y. The following unit standard costs apply: Calculate the material price and usage variances for the month. Calculate the labor rate and efficiency variances for the mont..
Research what is the FORECAST for Federal Budget Deficit for fiscal year 2010. What are the economic implications of Government running a deficit year after year?
Babbel Company is a manufacturing firm that uses the job-order costing. The company's inventory balances were as follows the the beginning of the year
Write a one to two page single-spaced memo to the management of Shaw Company and include/attach your findings and compute and discuss the percentages of change in the profit and cash balance of the company due to the increase in the price.
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