ACCT 601 DEVRY WEEK 3 ASSIGNMENT YOU DECIDE
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<strong>ACCT</strong> <strong>601</strong> <strong>DEVRY</strong> <strong>WEEK</strong> 3 <strong>ASSIGNMENT</strong> <strong>YOU</strong><br />
<strong>DECIDE</strong><br />
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<strong>ACCT</strong> <strong>601</strong> DeVry Week 3 Assignment You Decide<br />
<strong>ACCT</strong><strong>601</strong><br />
Details:<br />
Scenario Summary<br />
You have been invited to attend a meeting where your immediate supervisor will be presenting a draft of<br />
detailed financial projections to the chief financial officer and a subsequent meeting with the company<br />
president. You’ve not been involved in the preparation of the analysis thus far but understand that you<br />
might have some tasks delegated to you after the meeting. In addition, you realize that the company is at<br />
a critical juncture from issues such as high attrition of the accounting staff, current economic conditions,<br />
and increased competition.<br />
Your Role/Assignment<br />
You have recently been hired in the fairly small accounting department of a corporate business. The<br />
department is so small, in fact, that you may be called on at times for tasks ranging from simple<br />
bookkeeping, to preparation of financial statements and projections, and to perhaps even filling-in on the<br />
internal audit staff. One of your first responsibilities is to assist a senior level accountant with a detailed<br />
financial projection after input from the chief financial officer and the president of the company.<br />
Activity
You need to draft a summary of how you will handle the situation. Specific questions that should be<br />
addressed are:<br />
<br />
<br />
<br />
<br />
<br />
<br />
Do you feel that there might be an ethical issue present? For the moment, assume that no laws<br />
have been broken and just focus on any possible ethical issues.<br />
If you were going to report a suspected ethical issue, how would you do so? For instance, to<br />
whom would you report? Would you discuss the matter with anyone first?<br />
Would the manner in which you respond vary depending on whether this corporation was<br />
privately held or publicly traded?<br />
Does the fact that you have only been recently hired play into your decisions?<br />
What possible sources of guidance might be available from a professional organization and/or<br />
your state’s regulatory body overseeing the accounting profession?<br />
Lastly, please assume that you suspect that some state or federal laws have been broken. The<br />
problems might be beyond just a possible ethical issue, in other words. Would this change your<br />
handling of the situation?<br />
After reading through the You Decide activity and considering the questions listed here, please prepare a<br />
paper in APA format. The paper should include responses to the specific questions posed above but you<br />
may include other points if you so desire. The paper should be double-spaced, 11-point or 12-point type,<br />
and between 750 and 1,000 words (3 to 4 pages).