Hinson 8-6 Ethical Concerns

Hinson 8-6 Ethical Concerns - The best thing to do in this...

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Intermediate Accounting I Assignment 8-6 Ethical Concerns and Uncollectible Accounts Jamie Hinson February 27, 2008 Ethics Case 7-4 1. If the controller is granted his request due to the “bottom line being too low”, income before taxes would be $180,000 ($45,000 higher than the current amount). However, this would also raise the percentage of taxes depending on the tax rate. 2. Even though granting the controller’s request is unethical, not doing so could cost me my job. It is definitely a tough situation to deal with – especially with the laws of accounting to consider. I would honestly rather lose my job than be unethical in the laws of accounting!
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Unformatted text preview: The best thing to do in this situation is for me to first explain to my boss (the Vice President) why I cannot do such a thing. If that doesn’t work then I would go to the President of the company and discuss the issue. I guarantee that the President would side with me and take care of the situation. Especially since I was just promoted to assistant controller – I have responsibilities to carry through for the company. Not only would I be responsible for fraud if I was unethical, the company would be responsible as well. Being ethical could not only save me my job, but could save the company a lot of money in the long run....
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