On January 20, 2017, Tamira Nelson, the accountant for Picton Enterprise, is feeling pressure to complete the annual financial statement. The company president has said he needs up-to-date financial statement to share with the bank on January 21 at a dinner meeting that has been called to discuss Pictons obtaining loan financing for a special building project. Tamira knows that she will not be able to gather all the needed information in the next 24 hours to prepare the entire set of adjusting entries. Those entries must be posted before the financial statement accurately portray the companys performance and financial position for the fiscal period ended December 31, 2016. Tamira ultimately decides to estimate several expense accruals at the last minute. When deciding on estimates for the expenses, she uses low estimates because she does not want to make the financial statement look worse than they are. Tamira finishes the financial statement before the deadline and gives them to the president without mentioning that several account balance are estimates that she provided.

I have a presentation (20min-30min) about this ethic challenge from the chapter: completing the accounting cycle.

There are some questions she asked us to answer during the presentatiom:

Introduction - Ethic Problem Address the Issue/s Resolve the Issue/s Recommendation/s