HWCh.1 - Exercise11(10minutes) 1....

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Exercise 1-1  (10 minutes) 1. Managerial accounting, financial accounting 2. Planning 3. directing and motivating 4. feedback 5. decentralization 6. line 7. staff 8. controller 9. budgets 10. performance report 11. Chief Financial Officer 12. precision; nonmonetary data Problem 1-4  (20 minutes) 1. No, Sarver did not act in an ethical manner. In complying with the  president’s instructions to omit liabilities from the company’s  financial statements he was in direct violation of the IMA’s  Statement of Ethical Professional Practice.  He violated both the  “Integrity” and “Credibility” guidelines on this code of ethical  conduct. The fact that the president ordered the omission of the  liabilities is irrelevant. 2. No, Sarver’s actions can’t be justified. In dealing with similar  situations, the Securities and Exchange Commission (SEC) has  consistently ruled that “…corporate officers…cannot escape 
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HWCh.1 - Exercise11(10minutes) 1....

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