21 Nov Paige Carter
Paige Carter is the controller for a public organization in Nashville, TN. She has just completed a meeting with the organization’s CFO, Tommy Rich. Tommy Rich tried to convince Paige to classify some inventory items as fixed assets in an attempt to depreciate more assets for the upcoming accounting reporting period. Tommy Rich’s proposal would depreciate more assets by misclassifying inventory as fixed assets in an attempt to reduce net income. Paige knows it is her responsibility to ensure that all items on the organization financial statements are recorded properly as required by the Financial Accounting Standards Board (FASB) and the AICPA Code of Professional Conduct. She has a great deal of pressure to reduce net income to reduce corporate income taxes and qualify for a company bonus. She does not want to disappoint the CFO, and her job may be at stake.
What would you do in this case? Why?
What is Paige’s obligation to the organization and the AICPA professional rules of conduct and reporting requirements?
What are the differences between inventory and fixed assets? Are the characteristics the same? Why or why not?
What would motivate you to speak up? What would cause you to stay silent? Would it make a difference if this was only a one-time request from the CFO?
Prepare an 8–9 slide PowerPoint presentation:
Slide 1: Include the title “Paige Carter and the CFO,” the date, course name and number, date of submission, and your professor’s name.
Slide 2: Summarize the scenario for the CFO.
Slide 3: Outline the advantages of accurate reporting and why inventory should or should not be classified as a fixed asset.
Slide 4: Outline the disadvantages of accurate reporting and why inventory should or should not be classified as a fixed asset.
Slide 5: List the major differences between inventory and fixed assets.
Slide 6: Show the primary ways in which both classifications would affect the future of the business. Why should we classify inventory and fixed assets in the same account or separate accounts?
Slide 7: Recommend which option they should pursue. Justify your reporting decision.
Slide 8: Sources. Use two sources to support your writing. Choose sources that are credible, relevant, and appropriate. Cite each source listed on your source page at least one time within your assignment. For help with research, writing, and citation, access the library or review library guides.
This course requires the use of Strayer Writing Standards. For assistance and information, please refer to the Strayer Writing Standards link in the left-hand menu of your course. Check with your professor for any additional instructions.
The specific course learning outcome associated with this assignment is:
Discuss the role of ethics in reporting accounting information on financial statements.
HOW OUR WEBSITE WORKS
Our website has a team of professional writers who can help you write any of your homework. They will write your papers from scratch. We also have a team of editors just to make sure all papers are of
HIGH QUALITY & PLAGIARISM FREE.
To make an Order you only need to click ORDER NOW and we will direct you to our Order Page at WriteDen. Then fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.
Deadline range from 6 hours to 30 days.
Once done with writing your paper we will upload it to your account on our website and also forward a copy to your email.
Upon receiving your paper, review it and if any changes are needed contact us immediately. We offer unlimited revisions at no extra cost.
Is it Safe to use our services?
We never resell papers on this site. Meaning after your purchase you will get an original copy of your assignment and you have all the rights to use the paper.
Our price ranges from $8-$14 per page. If you are short of Budget, contact our Live Support for a Discount Code. All new clients are eligible for 20% off in their first Order. Our payment method is safe and secure.
Please note we do not have prewritten answers. We need some time to prepare a perfect essay for you.