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 embrown Ethics is a very important factor in account. Financial Accounting Standards Board is a private boldness 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 unaffiliated accountants. (Harrison, Horngren, & Oilver, 2009) We don’t necessity to experience the hardships that many nation dealt with following near of the world’s largest corporation and their demise. Enron was sited and reprimanded for reporting misleading data. WorldCom admitted accounting for expenses as thought they were assets (economic resources). (Harrison, Horngren, & Oilver, 2009) Due to the wrong behavior of the onwards mentioned companies, many people lost their jobs. Investors were shake 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 mask. This Act make it a criminal offense to falsify pecuniary 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 integrity that the order holds. Th is will ensure that we be in obligingness ! with all rules and regulations. As the new accountant, I feel that we should explore the benefits of going away high tech. Maybe the usage of applied science can help boost profits and make out 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 fiddle related activities. These...If you want to get a full essay, order it on our website: OrderCustomPaper.com

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