accounting 100
Mrs.bankZ
ACC100Week9Template.docx
Week 9 Assignment
Professor Name
ACC100
Your Name
Introduction (Optional)
In this section include the purpose of the paper and general overview of what you will be discussing. Do not copy/paste the assignment scenario in this section.
1) What is the rationale for the calculations/process used to estimate the $180,000 uncollectible allowance?
In this section, you want to refer back to chapter 9 in your textbook and review the process for determining the allowance for bad debt. What is most important in getting started on this assignment is to make sure you first understand why companies use the allowance method for accounting for receivables. Why is accounting for uncollectible receivables necessary? Is the allowance method an effective approach for estimating bad debt/uncollectible accounts? Why or why not? 2) How do you think the misstatement of funds will impact the income statement and balance sheet?
For this question, you want to discuss the potential impact on the financial statements. For example, how will changing the aging category data affect the accuracy and reliability of information reported? Will the balance sheet accounts be accurate if they are over/understated? How will the over/understatement of expenses, for example, affect the income statement? Review information from chapter 8 to help you expand on this question.
For this question, you want to think about certain ethical considerations such as GAAP violations, lack of integrity, employee trust, customer trust, etc. How will changing the numbers noted in the scenario impact the company based on these ethical considerations? Is the conduct of the controller appropriate? Why or why not? Please note there are tons of examples throughout your textbook chapters.
4) Identify the key internal and external stakeholders. What are the negative impacts that can happen if you do not follow the instructions of your supervisor?
For this question, you want to discuss the key individuals that may be affected by the act of the controller if his instructions are not followed. Who is mostly at risk? What is the responsibility to the employees, customers, vendors, etc.? What could reporting a low bottom line mean for the company? Could the company's financial survival be threatened? What could happen to the assistant controller if he/she does not comply with the supervisor’s request?
5) What are the potential consequences if you do comply with your supervisor’s instructions? Who will be negatively impacted?
For this question, you want to name potential individuals who may be negatively impacted if the assistant controller does follow the instructions of his supervisor. Again, think about the stakeholders you identified in question 4. For example, how would this affect the company’s reputation? Are there other potential ethical and/or criminal violations?
Sources
There are tons of information in the Strayer library you can search to assist you with this assignment. Don’t be afraid these tools.
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