Question
Precilla, vice-president of operations for Sturgis National Bank, has instructed the bank's computer programmer to use a 365-day year to compute interest on depository accounts
Precilla, vice-president of operations for Sturgis National Bank, has instructed the bank's computer programmer to use a 365-day year to compute interest on depository accounts (payables). Precilla also instructed the programmer to use a 360-day year to compute interest on loans (receivables). Discuss whether Precilla is behaving in a professional manner.
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Sound Investing, Chapter 7 - Cash Versus Accrual
Authors: Kate Mooney
1st Edition
0071719296, 9780071719292
