Guillermo Furniture Scenario

score 561 Week 1- Individual Assignment Guillermo piece of piece of furniture chime in Scenario University of Phoenix Professor Zandra Zamora November 10, 2009 Submitted by Yoshamira brownness Ethics is a very important factor in accountancy. Financial Accounting Standards Board is a private presidency 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 fiscal statements audited by nonparasitic accountants. (Harrison, Horngren, & Oilver, 2009) We don’t necessity to experience the hardships that many good deal dealt with following near of the world’s largest corporation and their demise. Enron was sited and reprimanded for account misleading data. WorldCom admitted accounting for expenses as thought they were assets (economic resources). (Harrison, Horngren, & O ilver, 2009) Due to the wrong behavior of the onwards mentioned companies, many people lost their jobs. Investors were shaken 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 pop off 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 law that the line of battle holds. This will ensure that we argon in accord 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 technology can help boost profits and kink 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 work related activities. These...If you want to get a full essay, order it on our website: OrderCustomPaper.com

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