Ask Accounting Basics Expert

1. Susie, a newly graduated BBA in accounting, has started a job with the state budgeting office. Susie has been placed over expense accounts. The state has a travel policy stating that a state employee may be reimbursed up to $90 per night for a hotel room and up to $40 per day for meals, as long as the employee turns in food receipts. On the first expense account Susie works on, the employee has a hotel receipt for $130 a night, but no food expenses. Susie processes the reimbursement for $90. The employee becomes irate as his reading of the travel policy is that he can be reimbursed for $130 a night for hotel and food with a receipt. The employee claims this has never been a problem in the past and has always been reimbursed $130 a night, whether for hotel only or both hotel and food.

Discuss which ethical theory supports Susie and the employee's take on the travel policy. Which would you choose, and why?

2. As part of a required ethics course, students were required to take an online, 90-minutes ethics final. Facing graduation and many pressures with starting new jobs and moving, the students worked together to complete the final. Since the essays were all closely worded, the instructor could determine that some sort of cheating on the ethics exam had taken place. Using the ethical decision-making model, what should the school, instructor, and students do? Would the suggested solution be different if the school had an honor code?

3. As an executive in a mid-sized manufacturing firm, Cal finds himself thrown together with Harry, who works for a unit Cal oversees. He and Harry are in the same community; their children are in the same schools; they often show up at the same social functions; and they play golf together fairly frequently. One day, to Cal's deep dismay, he hears that Harry has been implicated in some financial irregularities at work. The issues, while serious, leave some room for doubt. There is reason to think Harry got ensnared by regulations, though he may have tried to cover up that entanglement afterwards by being less than forthright. Yet, after what Cal observes to be a careful audit and investigation, Harry is let go from his job. Harry comes to Cal and asks for a letter of recommendation. What should Cal do? What are the consequences of the options?

4. A young man by the name of Mr. Meeks works at an accounting firm that has a written ethics code of conduct. The code specifically outlines the duties and obligations that every employee must follow without question. One of rules states that every accountant should not lie under any circumstances. Last week, Mr. Meeks sent out a finalized tax return to Wrong Client. Wrong Client called Mr. Meeks from the card attached to the tax return and informed Mr. Meeks that he was sending the tax return back to him overnight. Meanwhile, Right Client called Mr. Meeks and wanted to know where the tax return was. Mr. Meeks told Right Client that he sent it to the wrong address, and he will send it out as soon as he received it back from Wrong Client. Right Client was irritated and called the partner of the firm. The partner scolded Mr. Meeks and wanted to know why he told the client he sent the return to the wrong address. The partner said he should have told the client that the return was in the 2nd partner review or some other excuse to cover up the mistake. Mr. Meeks explained that the ethics code of conduct specifically states that he should not lie under any circumstances, and he was just following his ethical duty. The partner grinned and told Mr. Meeks that the next time this happens, he should consult with the partner first. Using the ethical decision-making model and ethical theories, justify the positions of either the partner, Mr. Meeks, or an alternative solution.

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M91334979
  • Price:- $80

Guranteed 48 Hours Delivery, In Price:- $80

Have any Question?


Related Questions in Accounting Basics

Question what discoveries have you made in your research

Question: What discoveries have you made in your research and how does this information inform your ability to evaluate effective coaching and its impact on organizations? Consider these guiding questions: 1. What core c ...

Question requirement 1 read the article in below attachment

Question: Requirement: 1. Read the article in below attachment, and answer the questions in a paper format. Read below requirements before your writing! 2. Not to list the answers, and you should write as a paper format. ...

Question as a financial consultant you have contracted with

Question: As a financial consultant, you have contracted with Wheel Industries to evaluate their procedures involving the evaluation of long term investment opportunities. You have agreed to provide a detailed report ill ...

Question the following information is taken from the

Question: The following information is taken from the accrual accounting records of Kroger Sales Company: 1. During January, Kroger paid $9,150 for supplies to be used in sales to customers during the next 2 months (Febr ...

Assignment 1 lasa 2-capital budgeting techniquesas a

Assignment 1: LASA # 2-Capital Budgeting Techniques As a financial consultant, you have contracted with Wheel Industries to evaluate their procedures involving the evaluation of long term investment opportunities. You ha ...

Assignment 2 discussion questionthe finance department of a

Assignment 2: Discussion Question The finance department of a large corporation has evaluated a possible capital project using the NPV method, the Payback Method, and the IRR method. The analysts are puzzled, since the N ...

Question in this case you have been provided financial

Question: In this case, you have been provided financial information about the company in order to create a cash budget. Management is seeking advice or clarification on three main assumptions the company has been operat ...

Question 1what step in the accounting cycle do adjusting

Question: 1. What step in the accounting cycle do Adjusting Entries show up 2. How do these relate to the Accounting Worksheet? 3. Why are they completed at the end of each accounting period? The response must be typed, ...

Question is it important for non-accountants to understand

Question: Is it important for non-accountants to understand how to read financial statements? If you are not part of the accounting/finance function in a business what difference would it make? The response must be typed ...

Question refer to the hat rack cash flow statement 2002 in

Question: Refer to the Hat Rack Cash Flow Statement, 2002 in the text on page 17. Answer the following questions and submit to me via Canvas by the due date. 1. Cash flow from operations? 2. Cash flow from investing? 3. ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As