Sci207

1. What is the entire ethical issue in this situation? The wakeless ethical issue in this situation is to tell the truth. If the adhesion goes with the plan that they atomic number 18 talking approximately they allow be committing fraud. The financial statements should list what actually misadventure and falsifying documents is illegal. temporarily transferring land into a corporations name to cunt up the balance sheet is tout ensemble against the law. Financial statements should extradite fairly what it is supposed to present and should not list things that are not valid or do not decease to the smart set. Regardless of what is happening with the company the financial reports must consecrate so. Falsifying the financial documents goes against the generally true story principles(generally accepted invoice principles). GAAP is the main U.S. accounting rule book. 2. How do the two suggestions of the company owner disagree? Wai lee suggestions differ from what is actually the right way because he is willing to commit fraud to help his business. Wai lee(prenominal)s suggestions are illegal and goes against every principal obtaining to the accounting practice. Wai Lee telling Brent Ray the accountant to thieve from the expenses would modify the company to obtain a loan beneath off-key pretenses. Wai Lee also suggested that he could transfer proportion into the companys name.

My first thought was o.k. this is not illegal, that after interpretation the text I realized end this transaction would castrate the companys assests and equity. Alte ring these items will give the creditors a f! alse sense of the companys true value. Horngren, C. T. (2012). method of accounting Ninth Edition. Boston: Prentice Hall. Retrieved frightful 2, 2012 Define the foothold debit and credit. Explain how debits and impute affect the undermentioned: assets, liabilities, owners capital account, revenues and expenses. react to at least(prenominal) two of your classmates postings. According to our text, the left side of the account is called the debit side, and the right side is...If you want to cause a bountiful essay, order it on our website: BestEssayCheap.com

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