AGREE OR DISAGREE WITH STUDENT 2 ANSWER Buddy's behavior was undoubtedly unethical, careless and fraudulent.While I do understand that being the manager for a reputable company presents a certain level of stress and need to fulfill deadlines he simply should have known better than to falsely record any debits or credits in the trial balance. The trial balance is a record of all debits and credits in a double-entry account book, with any disagreement indicating an error.any dollar amount on the trial balance. I can confidently say that Buddy was trained better and knows his companies ethical policies and protocols especially in his field and should know better than to make such a bad choice. Furthermore, his decisions not only affect his company's reputation, staff and higher management but also affect the lives of small business owners who entrust him with their money and accounts. If his unethical choice is discovered or progresses it could completely ruin the credibility of his business. Not only do his clients and manager depend on Buddy but so does his staff whose livelihoods could be severely disrupted by his careless choice. Businesses thrive off of referrals and recommendations. If the relationship between Buddy's client and the company ends on bad terms that could have a domino effect on future business ventures. One bad decision could take a business from the top to the bottom very quickly. While I understand that he works in what can be a very stressful environment, I will make the assumption that Buddy is a seasoned and tenured worker being that he holds a managerial position. While he had a “hard deadline” to meet from experience I know that honesty is usually respected even if they come with repercussions. I am confident that Buddy's managers may have been disappointed if Buddy did not meet the intended deadline but with a sound and thorough explanation he would have been granted an extension to get the job done properly and correctly. Buddys showed lack of judgement and unfortunately lack of integrity. He should have been honest with his manager and his client and nine out of ten times even if there were repercussions he would have shown that he was dependable and possessed a sound character. Buddy Dupree is the accounting manager for On-Time Geeks, a tech support company for individuals and small businesses. As part of his job, Buddy is responsible for preparing the company’s trial balance. His supervisor placed a “hard deadline” of Friday at 5p.m. for the completion of the trial balance. Unfortunately, Buddy was unable to get the trial balance to balance by the due date. The credit side of the trial balance exceeded the debit side by $3,000. To make the deadline, Buddy decided to add $3,000 debit to the vehicles account balance. He selected the vehicles account because it will not be significantly affected by the additional $3,000. Questions: Is Buddy behaving ethically? Why or why not? Who is affected by Buddy’s decision? How should Buddy have handled this situation?

AGREE OR DISAGREE WITH STUDENT 2 ANSWER Buddy's behavior was undoubtedly unethical, careless and fraudulent.While I do understand that being the manager for a reputable company presents a certain level of stress and need to fulfill deadlines he simply should have known better than to falsely record any debits or credits in the trial balance. The trial balance is a record of all debits and credits in a double-entry account book, with any disagreement indicating an error.any dollar amount on the trial balance. I can confidently say that Buddy was trained better and knows his companies ethical policies and protocols especially in his field and should know better than to make such a bad choice. Furthermore, his decisions not only affect his company's reputation, staff and higher management but also affect the lives of small business owners who entrust him with their money and accounts. If his unethical choice is discovered or progresses it could completely ruin the credibility of his business. Not only do his clients and manager depend on Buddy but so does his staff whose livelihoods could be severely disrupted by his careless choice. Businesses thrive off of referrals and recommendations. If the relationship between Buddy's client and the company ends on bad terms that could have a domino effect on future business ventures. One bad decision could take a business from the top to the bottom very quickly. While I understand that he works in what can be a very stressful environment, I will make the assumption that Buddy is a seasoned and tenured worker being that he holds a managerial position. While he had a “hard deadline” to meet from experience I know that honesty is usually respected even if they come with repercussions. I am confident that Buddy's managers may have been disappointed if Buddy did not meet the intended deadline but with a sound and thorough explanation he would have been granted an extension to get the job done properly and correctly. Buddys showed lack of judgement and unfortunately lack of integrity. He should have been honest with his manager and his client and nine out of ten times even if there were repercussions he would have shown that he was dependable and possessed a sound character. Buddy Dupree is the accounting manager for On-Time Geeks, a tech support company for individuals and small businesses. As part of his job, Buddy is responsible for preparing the company’s trial balance. His supervisor placed a “hard deadline” of Friday at 5p.m. for the completion of the trial balance. Unfortunately, Buddy was unable to get the trial balance to balance by the due date. The credit side of the trial balance exceeded the debit side by $3,000. To make the deadline, Buddy decided to add $3,000 debit to the vehicles account balance. He selected the vehicles account because it will not be significantly affected by the additional $3,000. Questions: Is Buddy behaving ethically? Why or why not? Who is affected by Buddy’s decision? How should Buddy have handled this situation?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Question

AGREE OR DISAGREE WITH STUDENT 2 ANSWER

Buddy's behavior was undoubtedly unethical, careless and fraudulent.While I do understand that being the manager for a reputable company presents a certain level of stress and need to fulfill deadlines he simply should have known better than to falsely record any debits or credits in the trial balance. The trial balance is a record of all debits and credits in a double-entry account book, with any disagreement indicating an error.any dollar amount on the trial balance. I can confidently say that Buddy was trained better and knows his companies ethical policies and protocols especially in his field and should know better than to make such a bad choice. Furthermore, his decisions not only affect his company's reputation, staff and higher management but also affect the lives of small business owners who entrust him with their money and accounts. If his unethical choice is discovered or progresses it could completely ruin the credibility of his business. Not only do his clients and manager depend on Buddy but so does his staff whose livelihoods could be severely disrupted by his careless choice. Businesses thrive off of referrals and recommendations. If the relationship between Buddy's client and the company ends on bad terms that could have a domino effect on future business ventures. One bad decision could take a business from the top to the bottom very quickly. While I understand that he works in what can be a very stressful environment, I will make the assumption that Buddy is a seasoned and tenured worker being that he holds a managerial position. While he had a “hard deadline” to meet from experience I know that honesty is usually respected even if they come with repercussions. I am confident that Buddy's managers may have been disappointed if Buddy did not meet the intended deadline but with a sound and thorough explanation he would have been granted an extension to get the job done properly and correctly. Buddys showed lack of judgement and unfortunately lack of integrity. He should have been honest with his manager and his client and nine out of ten times even if there were repercussions he would have shown that he was dependable and possessed a sound character.

Buddy Dupree is the accounting manager for On-Time Geeks, a tech support company for individuals and small businesses. As part of his job, Buddy is responsible for preparing the company’s trial balance. His supervisor placed a “hard deadline” of Friday at 5p.m. for the completion of the trial balance. Unfortunately, Buddy was unable to get the trial balance to balance by the due date. The credit side of the trial balance exceeded the debit side by $3,000. To make the deadline, Buddy decided to add $3,000 debit to the vehicles account balance. He selected the vehicles account because it will not be significantly affected by the additional $3,000.

Questions:

Is Buddy behaving ethically? Why or why not?
Who is affected by Buddy’s decision?
How should Buddy have handled this situation?

Expert Solution

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.