Joshua, an employee working in the accounts office of a medium-sized company listed on the Australian Securities Exchange, was working late one evening during the week. He realised he had left his pen in the boardroom at an earlier meeting and, given its value, went upstairs to look for it. As he walked past a room, he heard the following conversation between the Chief Executive Officer, Paul and one of the non-executive director, Alan who is also a cousin of Paul:
Paul: I am deeply concerned that if this fall in profit figures is disclosed in the next annual report, there will be all sorts of problems with the shareholders. We may even lose a number of big investors.
Alan: Well, I suppose we could always find a way of making them look better.
Paul: How? I can't see it at all.
Alan: Well, we could make them just slightly higher than last year's figures by including the proceeds of the sales of our toothbrush division.
Paul: But the sale doesn't go through until October.
Alan: No, but it will … and it doesn't make much difference, we need the money on the books now.
Paul: But when the accounts are signed off, won't that be fraudulent?
Alan: Not really … I don't see why … it's just a manipulation of timing rather than numbers.
Paul: OK. That sounds good to me. Let?s sort it out now.”
Joshua left and spent the evening worrying about what he should do, if anything. He decided he would anonymously ask the accountant how he could deal with this situation, and bring the issue out into the open.
As the accountant, you receive a report from the employee (Joshua) about the conversation. Write a brief summary for board members of the corporate governance problems raised by this employee, and the weaknesses in the company’s corporate governance which are evident from the conversation which was overheard
To export a reference to this article please select a referencing stye below:
My Assignment Help. (2021). Financial Accounting. Retrieved from https://myassignmenthelp.com/free-samples/accting2501-financial-accounting/characteristics-of-good-corporate-governance.html.
"Financial Accounting." My Assignment Help, 2021, https://myassignmenthelp.com/free-samples/accting2501-financial-accounting/characteristics-of-good-corporate-governance.html.
My Assignment Help (2021) Financial Accounting [Online]. Available from: https://myassignmenthelp.com/free-samples/accting2501-financial-accounting/characteristics-of-good-corporate-governance.html
[Accessed 18 April 2021].
My Assignment Help. 'Financial Accounting' (My Assignment Help, 2021) <https://myassignmenthelp.com/free-samples/accting2501-financial-accounting/characteristics-of-good-corporate-governance.html> accessed 18 April 2021.
My Assignment Help. Financial Accounting [Internet]. My Assignment Help. 2021 [cited 18 April 2021]. Available from: https://myassignmenthelp.com/free-samples/accting2501-financial-accounting/characteristics-of-good-corporate-governance.html.
Looking for quality math homework help online? Visit MyAssignmenthelp.com to get acquainted with qualified math helpers who can do your homework on complex math problems. Interestingly, you can get a variety of mathematics help starting from primary homework help to CPM homework help. Just remember to specify your requirements and instructions while placing the request “Solve my math problem” or “do my homework” at the website. The best part about the math homework services at MyAssignmenthelp.com is that the price is quite reasonable, while the services are pretty fast. Also, you can always expect to receive an error-free solution from the experts.
Answer: The main aim of this presentation is to emphasise the importance of the CRM system. In pursuance of doing so all the implications along with the kind of industry suited for it along with its corresponding justification has been given. In today’s competitive world it is of utmost importance that the company focuses both on absorption and retention of customer (Hao et al., 2015). In order to do that there are various methods th...Read More
Answer: Introduction As per Friedman “The main aim of any business is to increase its profit”, it highlights the fact that businesses operate and perform their work to make profit. It uses it resources and engages in such activities that they can make profit out of the same (Friedman, 1970). Every business is competing in the market in order of terms of revenue and making profit, that is the basic parameter based on which the...Read More
Answer: With regards to the given choice between deferred compensation and advance payment, there are two main factors which need to be considered. One of these is the underlying tax implication as deferred compensation is usually practiced when the employee wants to lower the tax outflow and thereby intentionally delays the receipt of salary by opting for deferred compensation. Thus, based on the marginal tax rate that is currently applicable...Read More
Answer: Introduction The main objective of the assessment is to analysis the financial report of Flight Center ltd for the purpose of evaluating whether the business follows conceptual framework of reporting. The conceptual framework is basically a guideline which all accounting professionals are expected to follow in order to accurately report the financial status of the business. Company background The business of Flight center ltd is sel...Read More
Answer: Introduction Corporate reporting may be considered to be one of the most critical and success-critical aspects of business studies as the same includes the consideration of lots of factors that are both internal as well as external to the business. An effective corporate reporting ensures the brand value and investor’ expectations amidst the external stakeholders of the business (Carmona, Salvador and Trombetta. 2008). On the ot...Read More
Just share requirement and get customized Solution.
Our writers make sure that all orders are submitted, prior to the deadline.
Using reliable plagiarism detection software, Turnitin.com.We only provide customized 100 percent original papers.
Feel free to contact our assignment writing services any time via phone, email or live chat. If you are unable to calculate word count online, ask our customer executives.
Our writers can provide you professional writing assistance on any subject at any level.
Our best price guarantee ensures that the features we offer cannot be matched by any of the competitors.
Get all your documents checked for plagiarism or duplicacy with us.
Get different kinds of essays typed in minutes with clicks.
Calculate your semester grades and cumulative GPa with our GPA Calculator.
Balance any chemical equation in minutes just by entering the formula.
Calculate the number of words and number of pages of all your academic documents.
Our Mission Client Satisfaction
It is a good source of help for any assignment. My order completed before the deadline, and rework have done for the assignment. It is quite expensive for the students. wishes for better deal regards roh
Great help and great service! I was concerned it wouldn't get to me on time, but sure enough, it was on time! This saved my rear. Thanks, you guys are awesome
Great paper. It was very detailed and everything was what was necessary for the paper.
seems ok to me, but once you forward the assignment it take 2 weeks for the feedback, then I will know if they are ok, so please do all the rest as well, if some answer are not ok they will ask to do it again