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Ethical Issue 12-1 Raffie's Kids, a nonprofit organization that provides aid to victims lence, low-income families, and special-needs children, has a 30-yea on the existing
Ethical Issue 12-1 Raffie's Kids, a nonprofit organization that provides aid to victims lence, low-income families, and special-needs children, has a 30-yea on the existing building. The mortgage requires monthly payments bookkeeper is preparing financial statements for the board and, in mortgage balance of $287,000 under current liabilities because the able to pay the mortgage off in full next year. Of the mortgage pri be paid next year if Raffie's pays according to the mortgage agreem members call you, their trusted CPA, to advise them on how Raffie report the mortgage on its balance sheet. What is the ethical issue? the reason for your recommendation. sue 12-1 Lids, a nonprofit organization that provides aid to victims of domestic vio- w-income families, and special-needs children, has a 30-year, 5% mortgage isting building. The mortgage requires monthly payments of $3,000. Raffie's per is preparing financial statements for the board and, in doing so, lists the e balance of $287,000 under current liabilities because the board hopes to be say the mortgage off in full next year. Of the mortgage principal, $20,000 will next year if Raffie's pays according to the mortgage agreement. The board es call you, their trusted CPA, to advise them on how Raffie's Kids should he mortgage on its balance sheet. What is the ethical issue? Provide and discuss son for your recommendation
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