Discussion Board 2: Btn 4-3
Q2. Tamira has a responsibility as accountant for Picton to accurately complete the accounting cycle for Picton and to prepare the financial statements in a true and accurate manner, so that a third party can be confident in and rely upon them to make financial decisions. I would not have responded as she did. First of all, twenty-four hours to complete a year’s worth of adjusting entries and prepare financial statements to be relied upon by the bank to make a major financing decision regarding the company is not enough time; and even more importantly, honesty and integrity are vital in the accounting field. Tamira was not honest with the President about the way she prepared the financial statements. In my opinion, this was extremely unethical, because she estimated the expenses of the company in such a way that it could have resulted in an inaccurate picture of Picton’s financial health as a company. If I were in Tamira’s situation, I would first speak with the President and tell him that what he needed could not possibly be accomplished in 24 hours. Then I would...
Please join StudyMode to read the full document