Guillermo Furniture Scenario

score 561 Week 1- Individual Assignment Guillermo piece of piece of furniture chime in Scenario University of Phoenix Professor Zandra Zamora November 10, 2009 Submitted by Yoshamira brownish Ethics is a very important factor in invoice. Financial Accounting Standards Board is a private giving medication that formulates accounting standards. (Harrison, Horngren, & Oliver, 2009) A second organization, SEC, facilitates to establish accepted accounting principles.The Securities Exchange counselling requires companies to have their monetary statements audited by nonsymbiotic accountants. (Harrison, Horngren, & Oilver, 2009) We don’t necessity to experience the hardships that many state dealt with following near of the world’s largest corporation and their demise. Enron was sited and reprimanded for inform misleading data. WorldCom admitted accounting for expenses as thought they were assets (economic resources). (Harrison, Horngren, & Oilver, 2009) Due to the unethical behavior of the onwards mentioned companies, many people lost their jobs. Investors were jolted from the untimely debacle, and withdrew from investments. afterwards every(prenominal) the turmoil, government decided to act against the culprits and passed the Sarbanes Oxley run. This Act make it a criminal offense to falsify financial statements.

(Bettner, Haka, Meigs, & Williams, 2003) Guillermo Furniture Store should always report all financial findings to the puritanical authorities. The financial statement should include all assets, liabilities, expenses, and honor that the army holds. This will ensure that we are ! in ossification with all rules and regulations. As the new accountant, I feel that we should search the benefits of going away high tech. Maybe the usage of applied science can help boost profits and contract into expenses that are involved with lug dollars. Guillermo should perform an experimental run, in which they cut labor jolly to invest in computers performing these take in related activities. These...If you want to get a full essay, order it on our website: OrderCustomPaper.com

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