Discussion Question (AG)

 Respond to the three unrelated questions in a single post.  

 PLEASE REVIEW THE RESOURCES TO ANSWER THE QUESTIONS

Accounting Manual for Public School Districts in the State of Washington: https://www.k12.wa.us/policy-funding/school-apportionment/instructions-and-tools/accounting-manual

Review Chapter 6 – Expenditure Accounts including Debt Service and Capital Assets

Review Chapter 7 – General Journal Entries including Debt Service and Capital Assets

Review Chapter 8 – Financial Reporting

Review Chapter 9 – Federal Grants Management

Review Chapter 10 – Capital Projects Fund and Transportation Vehicle Fund Accounting

Review Chapter 11 – Debt Service Fund Accounting

Review Chapter 13 – Fiduciary Activity

Review Appendix A – Program Expenditure Matrices

Review Appendix B – Additional Accounting Guidance

Review Appendix C – Reference Materials

Source: https://www.k12.wa.us/policy-funding/school-apportionment/instructions-and-tools/accounting-manual

PLEASE ANSWER ALL QUESTIONS 1,2,3 AND 4

1) In this course, we have been reviewing audited financial reports. If the auditor’s fee is paid from the entity being audited, isn’t there a conflict of interests that may lead to a lack of objectivity?

Do you believe that a CPA can be truly independent when their payment of fees is dependent on the client?

2) You overheard a friend at a party say that changes in information technology will greatly decrease the demand for accountants. How would you respond to this comment?

3) Most government entities, not-for-profits, and for-profit companies have a “Code of Conduct”. This document outlines the responsibilities and proper practices for an individual in the organization.  In most cases, new employees need to sign a letter acknowledging that they have read and understand the “Code of Conduct”.

Do you really believe that having a written code of conduct will reduce fraud and other dishonest acts in an organization? Why or why not?