AIP 1.5 Financial Reporting and Ethics LO 7

The president of the company came to the controller at the end of the fiscal year. He says, "We've had a pretty bad year. Sales have been off, but I think we'll do better next year. Can you do something about the annual financial report to make us look a little better and get us through until next year? Otherwise, I might get fired."

Questions

a. What can the controller do to make the annual financial report look better?

b. What other factors should the controller consider in responding to the president?