firmness respectable Dilemmas in the Accounting Profession Solving Ethical Dilemmas in the Accounting Profession Daniel Potter is a rung accountant for Baker Greenleaf, a large esteemed swelled Eight accounting Firm. Daniel is a graduate of an common ivy league school and studied accounting at Acorn argument discipline sponsored by Baker Greenleaf. Daniel was in the code of honest motive and old(prenominal) with the guideline for morality. Daniel was also aware of the report by Senator lee(prenominal) Metcalf suggestion to nationalize the accounting industry that would bring saucily ethics to accounting professionals and give the public new confidence in the accounting industry. Daniel freely shared this information with his colleagues at Baker Greenleaf. Daniel had a strong sense of ethics as he practiced the course of accounting. Daniel was assigned a pat to audit an estate infantryman of Baker Greenleaf and expected to get a clea n sentiment to confirm the clients statements within a month.Â A problem with the audit confused a piece of property owned by the accessory with stated worth as $2 million provided in actuality is only worth $100 thousand. This everywherevalued the property by $1.9 million.
This creates an ethical dilemma for Daniel because the overvalued property affects the income statement by over 3% and is a material difference of a 7% business on the subsidiaries net income. Daniel bought this information to the attention of the subsidiary managers, who so refused to metamorphose the flavor because of potential for profit to trade in or lease ! the property. Daniel submitted his report to the project senior, Oliver Freeman with a recommendation to file the report with a subject to opinion making the financial statements subject to an adjustment of $1.9 million. Oliver Freeman demanded Daniel to dislodge his opinion, and when he would not, Oliver removed...If you want to get a full essay, seduce it on our website: OrderCustomPaper.com
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