SampleHomework - Completing the Homework In this class you...

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Completing the Homework: In this class you are refining the general process of good decision making by learning the language, skills, and concepts of business decision making. This process has as its foundation information search and information organization. The phase of the homework allows you to you practice these two foundational skills. Do the homework either using pencil and paper or by using Excel. We recommend Excel for four reasons: (1) Spreadsheets are used extensively in business. (2) Spreadsheets force you to logically organize your thinking and to document your work. (3) Electronic files are easier to keep track of and carry around than paper files. (4) It will leverage a skill you probably already have. Most of you have used Excel in high school. However, if you need help with Excel, contact your instructor and we will get you the help you need. This Excel workbook is an example of how you should do the homework. Each homework problem is done on a different worksheet (page). The work is well documented enough that someone else can follow the work. Turning in Homework Homework is part of your grade. You do not need to have all the right answers, but you do need to make a good faith attempt to answer the homework questions. "Good faith attempt" means that you have presented your work logicially and clearly and that it is obvious to the reader that you have put some time into trying to understand the material. Homework will be collected in class at the beginning of the first class session each week. Make a copy of your homework for your use so that you have it even if it has not yet been returned to you by your instructor.
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Problem 1-20. Ethical Dilemmas Overview: The firm is having trouble meeting its 15% earnings growth target. Actions th add revenues to the income statement are unethical when they cause the income statem a. Postponing billing. Expenses are recognized when assets are used up. Postponing billing is a way to hide ex Hiding expenses is misleading and unethical. b. Recording sales for items held in a public warehouse. Revenue should be recognized when earned. Items held in a public warehouse have not So, they are not earned and recording them as earned misleads investors and is unethica c. Put next year's sales in this year's sales. Again, revenue should be recognized when earned. Next year's sales are earned in the n Recording them as earned in the current year misleads investors and is unethical. d. Reduce allowance for bad debts. Allowance for bad debts should be based on expected bad debts.
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