Read the following case:

McDonald, R. (2011, December). Don't leave your hand in the cookie jar.IMA Educational Case Journal, 4(4), ART. 2. (Located in this module)

Prepare a paper (memo) that addresses the following questions:

• How can John use the IMA Standards of Ethical Professional Practice to evaluate his own ethical behavior? Be specific.
• What steps could John take to resolve the ethical dilemma he faces? Be specific.
• Concerning the three accounting adjustments, whose arguments are more persuasive, Karl's or John's? Again, be specific.
• Calculate the difference between Karl's and John's recommended adjustments for bad debt, product returns, and warranties. Do you consider each individual different material? Is the combination of the three amounts material?