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Based on your readings and review of utilitarianism, categorical imperative, veil of ignorance and Aristotles Golden Mean, write a 3-4 page paper, double-spaced, applying each of the philosophies to the following ethical scenario using the IRAC method (link to IRAC).
Case Study Scenario:
You are an internal auditor of a small rural bank with 3 branches. The bank's customers are mainly farmers. The bank is a publicly traded corporation (OTC) and qualifies under the Sarbanes-Oxley Act of 2002 (SOX) regarding financial reporting requirements since the bank has over 500 shareholders and over $10 million in assets. Section 806 of SOX specifically requires that the CEO and CFO personally certify as to the accuracy of the financial statements. The CEO has asked you to make specific journal entries that appear to be improper and definitely unusual in nature. You have some reservations about the CEO's request for these journal entries. You have been recently hired by this bank. You are the parent of newborn twins and recently purchased a new house. Additionally, this bank is the largest employer in the county with approximately 150 employees. (Ignore the separation of duties issue).
Describe the principles on which the Big Mac Index is built and how it might help you as an international manager.
Include tests of transactions after the balance sheet date as well as tests of transactions during the year under audit. Show
Calculate the ratios for 2014 as Gross Profit Margin B. Profit Margin, Return on Assets and Current Ratio - calculate the effect of each of the adjustments on the profit figure of $63,500 as shown in Michael's draft accounts.
Suppose the Quick Towing Company purchases a new tow truck. The old truck had a book value of $1,000 and was sold for $1,420. If Quick Towing is in the 34 percent marginal tax bracket, what is the tax liability on the sale of the truck?
Explain procedures for collecting accounting evidence, Explain the use of sampling in performing an examination Evaluate accounting evidence using analytical and inferential tools.
You have a total of $411,016 in your retirement savings and have the funds invested such that you expect to earn an average of 7.10 percent, compounded monthly on this money throughout your retirement years.
In what types of situations could it be appropriate to use equity-method reporting even though the investor does not hold voting common stock of the investee? Explain.
What accounting factors are important before determining whether a pending lawsuit should be accrued as a liability and reflected in the financial statements?
Why is equity capital generally more expensive than debt financing?
Inventory is an important asset for merchandisers. Considering the various methods of valuing inventory and the flow of merchandise, what are the strengths and weaknesses of each method? Why would a company chose one method over another? Is there ..
When using classical variables sampling for estimation, an auditor normally evaluates the sampling results by calculating the possible misstatement in either direction. This statistical concept is known as
Describe what entry must Sam's Painting Service make on December 31 before financial statements are prepared?
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