Josie is an accounting supervisor at Monk & Sons Realty. She instructs her subordinate, Maria,...
60.1K
Verified Solution
Link Copied!
Question
Accounting
Josie is an accounting supervisor at Monk & Sons Realty. She instructs her subordinate, Maria, to make certain accounting entries in the company's books that will increase revenue by a material amount. Maria researches the matter and tells Josie that recognizing revenue in this way would be inconsistent with GAAP. Josie disagrees and insists that she record the entries. Maria brings her concerns to higher levels of management and the board of directors, but no one agrees with her. She also discusses the matter with the AICPA's technical hotline and confirms her position. Because she has exhausted all her options, what else should Maria consider under the AICPA Code of Professional Conduct? Make the entries as her boss instructed Take out a professional liability policy Resign her position in the company Report the matter to the board of accountancy.
Josie is an accounting supervisor at Monk & Sons Realty. She instructs her subordinate, Maria, to make certain accounting entries in the company's books that will increase revenue by a material amount. Maria researches the matter and tells Josie that recognizing revenue in this way would be inconsistent with GAAP. Josie disagrees and insists that she record the entries. Maria brings her concerns to higher levels of management and the board of directors, but no one agrees with her. She also discusses the matter with the AICPA's technical hotline and confirms her position. Because she has exhausted all her options, what else should Maria consider under the AICPA Code of Professional Conduct? Make the entries as her boss instructed Take out a professional liability policy Resign her position in the company Report the matter to the board of accountancy.
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.