Ethical issues, revenue recognition Read the article, "What's Wevenue?" by LO 7 Elizabeth MacDonald, in The Wall Street Journal (January 6, 2000, p. A1). The article states that managers faced aggressive revenue targets and reports testi¬ mony about "a dozen or more accounting tricks that various employees, at var¬ ious levels of management, had deployed to keep the stock buoyant."

REQUIRED

(a) What revenue recognition or other accounting-related improprieties does the article report?

(b) How widely known were the improprieties within the company?

(c) Describe the reponsibilities and challenges management accountants and others within the organization face with respect to the accounting issues reported in the article, and explain how organizational leadership or con¬ trol systems can help foster high ethical standards and help prevent the problems described in the article.

(LO 4, 5)