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Alice Hawkins, president of Realon Co., went to a conference on tax planning. One of the speakers at the seminar advised the audience to put
Alice Hawkins, president of Realon Co., went to a conference on tax planning. One of the speakers at the seminar advised the audience to put off showing expenses until next year because doing so would allow them to take advantage of a new tax law. When Alice returned to the office, she called in her accountant, Lynn ORiley. She told Lynn to forget about making any adjustments for salaries in the old year so more expenses could be shown in the new year. Lynn told her that putting off these expenses would not follow generally accepted accounting procedures. Alice said she should do it anyway. You make the call. Write your specific recommendations to Lynn.What are your thoughts regarding Alice's action? Make the call and post your recommendations to Lynn. Support your arguments.
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