Recognizing revenue: Ethical challenges for accountant
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Describe ethical challenges an accountant could face in recognizing revenue for a firm.
How could you deal with these challenges?
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The 392 word solution provides and explains the issues and reasoning for the types of challenges and how they can be solved or minimized for a company.
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Describe ethical challenges an accountant could face in recognizing revenue for a firm.
The types of ethical challenges in recognizing revenue could include:
1. Pressure from Division heads, or corporate officers (CEO, CFO) to increase net income by manipulation of either revenue or costs of sale.
2. The accountant may feel personally responsible to report a good year, or there may be a bonus for certain net income levels, although these types of bonuses tend to be paid to those listed above or to commission sales people.
3. An accountant might try to cover some other errors or frauds by over ...
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