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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.
king manufacturing has four categories of overhead. the four categories and expected overhead costs for each category
Camp Manufacturing turns over its inventory 8 times each year, has an average payment period of 35 days, and has an average collection period of 60 days. The firm's annual sales are 3.5 million dollars. Assume there is no difference in the investm..
Determine the cash disbursement for manufacturing overhead for the quarter and determine the predetermined overhead rate for the quarter.
Clancy Inc. issues $2,000,000 of 7% bonds due in 10 years with interest payable at year-end. The current market rate of interest for bonds of similar risk is 8%.
Does the CVP assumption of linearity make sense within the relevant range? Has this assumption changed based on the current economy?
(a) Compute the overhead rate for each activity.(b) Assign the manufacturing overhead costs for March to the two products using activity-based costing and show manufacturing overhead cost per unit for Radiators and Gas Tanks.
Compute the total overhead that should be assigned to order no. 715 by using activity-based costing.
Discuss the ethical issues
The management of Giammarino Corporation is considering introducing a new product--a compact barbecue. At a selling price of $78 per unit, management projects sales of 10,000 units. Launching the barbecue as a new product would require an investme..
Why do we use the overall cost of capital for investment decisions even when only one source of capital will be used?
What is the expected value of perfect information about the success or failure of the product and what is the posterior probability of success given a favourable survey result?
consider the following scenariothe ski pro corporation which produces and sells to wholesalers a highly successful line
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