Guillermo Furniture Scenario

score 561 Week 1- Individual Assignment Guillermo piece of furniture chime in Scenario University of Phoenix Professor Zandra Zamora November 10, 2009 Submitted by Yoshamira chocolate-brown Ethics is a very important factor in business relationship. Financial Accounting Standards Board is a private face that formulates accounting standards. (Harrison, Horngren, & Oliver, 2009) A second organization, SEC, facilitates to establish accepted accounting principles.The Securities Exchange counselling requires companies to have their pecuniary statements audited by single-handed accountants. (Harrison, Horngren, & Oilver, 2009) We don’t necessity to experience the hardships that many bulk dealt with following near of the world’s largest corporation and their demise. Enron was sited and reprimanded for report misleading data. WorldCom admitted accounting for expenses as thought they were assets (economic resources). (Harrison, Horngren, & O ilver, 2009) Due to the unethical behavior of the onwards mentioned companies, many people lost their jobs. Investors were jolted from the untimely debacle, and withdrew from investments. afterwards every(prenominal) the turmoil, government decided to act against the culprits and passed the Sarbanes Oxley make out. This Act make it a criminal offense to falsify monetary statements.

(Bettner, Haka, Meigs, & Williams, 2003) Guillermo Furniture Store should always report all financial findings to the puritanical authorities. The financial statement should include all assets, liabilities, expenses, and comeliness that the frame holds. This will ensure tha! t we ar in entry with all rules and regulations. As the new accountant, I feel that we should seek the benefits of going away high tech. Maybe the usage of engine room can help boost profits and have sex into expenses that are involved with lug dollars. Guillermo should perform an experimental run, in which they cut labor jolly to invest in computers performing these employment related activities. These...If you want to get a full essay, order it on our website: OrderCustomPaper.com

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