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Question No 2: (5+5 =10 Marks) You are a senior accountant in a company. Your immediate manager is a very forceful, dominant individual and you
Question No 2: (5+5 =10 Marks) You are a senior accountant in a company. Your immediate manager is a very forceful, dominant individual and you have been accepting his views over the last two years on level of work in progress in the company. He has informed you that work in progress has increased by 200% during the current reporting period and instructed you to report this level in the monthly management accounts. The year-end draft of financial statements shows that the organization has only just met its planned level of work in progress targets of 110%. Which you were not aware of when the draft financial statements were prepared. Based on the above evidence it is clear, that work in progress had not increased at anywhere near the rate advised by your manager. You are required to: Analyze the scenario and comment on the most applicable ethical principles for accountants and discuss the best possible course of actions? (300 words)
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