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Unformatted text preview: • Ethics Case BYP 1-7 (a) Who are the stakeholders in this situation? The stakeholders are Wayne, the vice president of finance, the president of Robbin Industries and any who uses the Robbin Industries’ financial statements. (b) What are the ethical issues involved in this situation? The only ethical issue has to do with the following of GAAP for dealing with this problem with the financial statement. There is a chance that this could lead to misleading information and if used for personal or company gain, will become unethical. (c) What would you do if you were Wayne Terrago? Wayne should inform the management of the correct GAAP and go over what is acceptable for the financial statements and how to account for advertising costs and revenue....
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- Spring '12
- Ethics , Generally Accepted Accounting Principles, Raw Materials Inventory, Wayne Terrago