Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

QUESTION 2 Simione is a certified practicing accountant for KF Ltd, which is a large listed company in New Zealand. KF Ltd has several divisions

QUESTION 2 Simione is a certified practicing accountant for KF Ltd, which is a large listed company in New Zealand. KF Ltd has several divisions operating both in NZ and Asia. One of Simiones roles is to review the expense claims of the senior management team who often spend many days away from home, and who also make large purchases using company credit cards when they are traveling. Simione is concerned that the chief operating officer (COO), who is also a director of the company, has submitted an expense claim that includes items that appear to be for personal use and therefore, are not genuine business expenses. The COOs expense claim also has a list of supposed cash payments that do not appear to have been incurred. This is because there are no receipts or documents to substantiate the purchases, although cash withdrawals from the company credit cards have occurred. Simione is concerned that the cash payments related to facilitation payments made to overseas suppliers and customers. She is also concerned that the non-business-related purchases will lead to non-compliance with the organizations taxation records. Simione raises her concerns with the CFO but is told to just process the claim and stop making a fuss.

Required: The American Accounting Association (AAA) model is quite often used as a tool to deal with cases portraying ethical dilemmas. It follows a seven-step procedure to evaluate and make case recommendations. From those seven steps, ONLY identify and discuss the steps that support a deontological perspective and teleological perspective.

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_2

Step: 3

blur-text-image_3

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

Managerial Accounting

Authors: Ray Garrison, Eric Noreen and Peter Brewer

14th edition

978-007811100, 78111005, 978-0078111006

More Books

Students also viewed these Accounting questions