Sci207

1. What is the entire ethical issue in this situation? The fundamental ethical issue in this situation is to tell the truth. If the bond certificate goes with the plan that they atomic number 18 talking close they allow be committing fraud. The financial statements should list what actually hazard and falsifying documents is illegal. temporarily transferring land into a corporations name to cunt up the balance sheet is exclusively against the law. Financial statements should extradite fairly what it is supposed to present and should non list things that are not valid or do not decease to the troupe. Regardless of what is happening with the company the financial reports must consecrate so. Falsifying the financial documents goes against the generally judge story principles(generally accepted score principles). GAAP is the main U.S. accounting rule book. 2. How do the two suggestions of the company owner dissent? Wai lee suggestions differ f rom 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 enable the company to obtain a loan beneath glowering 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 variant the text I realized end this transaction would shift the companys assests and equity. Altering these items will give t he creditors a false sense of the companys t! rue value. Horngren, C. T. (2012). business relationship Ninth Edition. Boston: Prentice Hall. Retrieved frightful 2, 2012 Define the wrong debit and credit. Explain how debits and impute affect the following(a): 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 unspoilt essay, order it on our website: OrderCustomPaper.com

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