Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Can you please help me reword this and put in apa format this is what my teacher expect please. Tracy, based on my review the

Can you please help me reword this and put in apa format this is what my teacher expect please.

Tracy, based on my review the following item(s) have been noted:

1.According to SafeAssign your case is a 100% match.

2.I would have expected your paper to be in APA format and not questions/answer.

3.You did not have a reference page which is a requirement for APA papers.

In its current state you will not be awarded any points. You have until Sunday, December 17, 2017 to redo your paper. Failure to do so will result in a zero for this assignment. If you have any questions or concerns please let me know.

image text in transcribed 1. What is the accounting problem that the Linbarger Company faces? As seen from the discussion of the given case, the company's major accounting problem is with cash management. It might have maintained a proper planning and coordination between receipts and payments. Alternative shortterm cash funding ways need to be planned in advance to honor the agreement., otherwise there is no point in putting conditions in the agreement. 2.What are the ethical considerations in this case? Provide rationale for why these are ethical considerations. Referring to the periodicity concept of accounting, there should be uniformity in closing the books of accounts. Receipts of July 1st or July 2nd cannot be included in balancing for 30 June. It leads to cumulative errors willfully done to compensate each of the earlier errors. In accounting or even elsewhere as well willful errors are called frauds. Thus, there are serious ethical considerations in keep receipts book open up to the required balance is received. 3. What are the negative impacts that can happen if you do not follow Lisa Infante instructions to wait one more day to post the balance? Negative impacts are very clear in the facts of the case itself. when Lisa infante takes those actions contemplated in the agreement, the existence of the firm its under immediate danger. Impact may be very danger but, in light of further fund needed being 120000 only can be managed alternatively with very shortterm hand loan (or) encouraging any our esteemed customer to make early payment and take a surprise discount. In light of these several alternatives being available there is nothing to choose to go for unethical accounting practice. 4. Who will be negatively impacted if you do comply? Provide a rationale for why these individuals will be impacted. All the stakeholders that are connected directly and indirectly with the company shall be negatively impacted. Even the stake holders of insurance company were negatively impacted due to the unethical practice. The rational is simple, irrespective of magnitude of the amount under consideration, fraud is always a fraud. The purpose of accounting will be deceived with such practices. 5. What is one alternative that you could pursue in this scenario? The required balance can be easily managed with very short-term hand loan for 1 or 2 days (or) encouraging any of our esteemed customer to make early payment and take a surprise discount. Limited time cash sale with unbelievable discounts, even advances can be requested from loyal employees out of there available surplus in their bank accounts which can be repaid in the next day along with their regular salary. For financing a day need there are several alternatives

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Corporate Finance

Authors: Stephen Ross, Randolph Westerfield, Jeffrey Jaffe, Bradford Jordan

12th edition

1259918947, 1260091908, 978-1259918940

More Books

Students also viewed these Accounting questions

Question

Brief the importance of span of control and its concepts.

Answered: 1 week ago

Question

What is meant by decentralisation?

Answered: 1 week ago

Question

Write down the Limitation of Beer - Lamberts law?

Answered: 1 week ago

Question

Discuss the Hawthorne experiments in detail

Answered: 1 week ago

Question

Armed conflicts.

Answered: 1 week ago

Question

Pollution

Answered: 1 week ago