Question
Review the Journal of Accountancy Article: Ghost Goods: How to Spot Phantom Inventory and answer the following questions: Why, from your perspective, is inventory so
Review the Journal of Accountancy Article: Ghost Goods: How to Spot Phantom Inventory and answer the following questions:
- Why, from your perspective, is inventory so easy to inflate without auditor detection?
- Does overstated inventory affect just the balance sheet? Explain how it affects the balance sheet and any other financial statements.
- Why do you think Mickey Monus got away with his scheme for so long?
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Accounting Principles Volume 2
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara A. Trenholm, Valerie A. Kinnear, Joan E. Barlow
6th Canadian Edition
1118557328, 978-1118557327
