I have a case study assignment for an Accounting class. I don't really know what to do with all honesty as its not my major. I will post the handout and I hope you guys understand it and tell what I am supposed to do. Thank you.

ACCT 201 Ethics Assignment- Spring Semester 2020 Purpose and Requirements of the Case Study: The purpose of the Case Study is to contribute towards the development of BBA student's ethical and communication skills. The case requires each student to write a report that identifies ethical concerns, analyzes options, and provides an ethical decision., about an issue in financial accounting. Case Study You are a trainee accountant working for Celtic Corp. The President of Celtic, Ms. Aileen McGregor, is a family friend. In December at the end of the financial year, the President calls by your office. Aileen greets you with a warm friendly smile and says she can see you "having a bright future with the company, especially since it should be expanding and hiring more workers if the bank agrees to give Celtic a loan for new equipment next year". Aileen then asks you to make a couple of "small yearend adjustments". The first, is to reduce depreciation expense on the office building. "because everyone knows that the price of property is increasing". The second is to overstate ending inventory by 20% "because, like property, inventory is increasing in price, and any way next year some customers may return inventory they purchased from Celtic". Aileen concludes, stating with a smile "these adjustments do not involve cash. They are just part of bookkeeping". Later you determine that if the President's instructions are followed Celtic will show record assets and profits. Instructions Using the guidelines provided in our course textbook (extract over leaf) identify ethical concerns, analyze the situation and explain what you would do. Parameters Case study assigned Thursday 30th January 2020 Written report to be submitted Sunday 1" March 2020 Report length 500 to 600 words. Typed size 12 font 1.5 line spacing, Report in four parts, description of situation, identification of ethical concerns, analysis of options, and ethical decision. Individual, not group work. Case worth 10 marks (Penalties applied daily for late submission) - Start with the purpose of accounting 11 0 ) ACCT 201 Ethics Assignment- Spring Semester 2020 Purpose and Requirements of the Case Study The purpose of the Case Study is to contribute towards the development of BBA student's ethical and communication The case requires each student to write a report that identifies ethical concerns, analyzes options, and provides an ethical decision, about an issue in financial accounting Case Study You are a trainee accountant working for Celtic Corp. The President of Celtic, Ms. Aileen McGregor, is a family friend. In December at the end of the financial year, the President calls by your office. Aileen greets you with a warm friendly smile and says she can see you "having a bright future with the company, especially since it should be expanding and hiring more workers if the bank agrees to give Celtic a loan for new equipment next year. Aileen then asks you to make a couple of "small yearend adjustments". The first, is to reduce depreciation expense on the office building. "because everyone knows that the price of property is increasing". The second is to overstate ending inventory by 20% "becouse, like property, inventory is increasing in price, and any way next year some customers may return inventory they purchased from Celtie. Alleen concludes, stating with a smile these adjustments do not involve cash. They are just part of bookkeeping Later you determine that if the President's instructions are followed Celtic will show record assets and profits Instructions Using the guidelines provided in our course textbook (extract over lean) identify ethical concerns, analyze the situation and explain what you would do. Parameters Case study assigned Thursday 30 January 2020 Written report to be submitted Sunday 1" March 2020 Report length 500 to 600 words. Typed size 12 font 1.5 line spacing Report in four parts, description of situation, identification of ethical concerns, analysis of options, and ethical decision Individual, not group work Case worth 10 marks (Penalties applied daily for late submission). -start with the purpose of accounting Ethics-A Key Concept The goal of accounting is to provide useful information for decisions. For information to be useful it must be trusted. This demands ethics in accounting. Ethles are beliefs that distinguish right from wrong. They are accepted standards of good and bad behavior. Wentifying the ethical path is sometimes difficult. The preferred path is a course of action that avoids casting doubt on one's decisions. For example, accounting users are less likely to trust an auditor's report if the auditor's pay depends on the success of the client's business. To avoid such concerns, ethics rules are often set. For example, auditors are banned from direct investment in their client and cannot accept pay that depends on figures in the client's reports. Exhibit 1.6 gives guidelines for making ethical decisions. Identify ethical concerns Analyze options Make ethical decision Use personal ethics to recognize an ethical concern. Consider all good and bad consequences. Choose best option after weighing all consequences. Providers of accounting information often face ethical choices as they prepare financial reports. These choices can affect the price a buyer pays and the wages paid to workers. They can even affect the success of products and services. Misleading information can lead to a wrongful closing of a division that harms workers, customers, and suppliers. There is an old saying: Good ethics are good business. Some people extend ethics to social responsibility, which refers to a concern for the impact of actions on society. An organization's social responsibility can include donations to hospitals, colleges, community programs, and law enforcement. It also can include programs to reduce pollution, increase product safety, improve worker conditions, and support continuing education, These programs are not limited to large companies. For example, many small businesses offer discounts to students and senior citizens. Still others help sponsor events such as the Special Olympics and summer reading programs. Purpose and Requirements of the Case Study The purpose of the Case Study is to contribute towards the development of BBA student's ethical and communication skills. The case requires each student to write a report that identifies ethical concerns, analyzes options; and provides an ethical decision., about an issue in financial accounting. Case Study You are a trainee accountant working for Celtic Corp. The President of Celtic, Ms. Aileen McGregor, is a family friend. In December at the end of the financial year, the President calls by your office. Aileen greets you with a warm friendly smile and says she can see you "having a bright future with the company, especially since it should be expanding and hiring more workers if the bank agrees to give Celtic a loan for new equipment next year". Aileen then asks you to make a couple of "small yearend adjustments". The first, is to reduce depreciation expense on the office building, "because everyone knows that the price of property is increasing. The second is to overstate ending inventory by 20% "because, like property, inventory is increasing in price, and any way next year some customers may return inventory they purchased from Celtic". Aileen concludes, stating with a smile "these adjustments do not involve cash. They are just part of bookkeeping" Later you determine that if the Presidents instructions are followed Celtic will show record assets and profits. Instructions Using the guidelines provided in our course textbook (extract over leaf) identify ethical concerns, analyze the situation and explain what you would do. Parameters Case study assigned Thursday 30th January 2020 Written report to be submitted Sunday 1" March 2020 Report length 500 to 600 words. Typed size 12 font 1.5 line spacing. Report in four parts, description of situation, identification of ethical concerns, analysis of options, and ethical decision. Individual, not group work. Case worth 10 marks (Penalties applied daily for late submission). Ethics-A Key Concept The goal of accounting is to provide useful information for decisions. For information to be useful, it must be trusted. This demands ethics in accounting. Ethles are beliefs that distinguish right from wrong. They are accepted standards of good and bad behavior. Identifying the ethical path is sometimes difficult. The preferred path is a course of action that avoids casting doubt on one's decisions. For example, accounting users are less likely to trust an auditor's report if the auditor's pay depends on the success of the client's business. To avoid such concerns, ethics rules are often set. For example, auditors are banned from direct investment in their client and cannot accept pay that depends on figures in the client's reports. Exhibit 1.6 gives guidelines for making ethical decisions. Identify ethical concerns Analyze options Make ethical decision Use personal ethics to recognize an ethical concem. Consider all good and bad consequences. Choose best option after weighing all consequences. Providers of accounting information often face ethical choices as they prepare financial reports. These choices can affect the price a buyer pays and the wages paid to workers. They can even affect the success of products and services. Misleading information can lead to a wrongful closing of a division that harms workers, customers, and suppliers. There is an old saying: Good ethics are good business. Some people extend ethics to social responsibility, which refers to a concern for the impact of actions on society. An organization's social responsibility can include donations to hospitals, colleges, community programs, and law enforcement. It also can include programs to reduce pollution, increase product safety, improve worker conditions, and support continuing education. These programs are not limited to large companies. For example, many small businesses offer discounts to students and senior citizens. Still others help sponsor events such as the Special Olympics and summer reading programs