Josie is an accounting supervisor at Monk & Sons Realty. She instructs her subordinate, Maria, to make certain accounting entries in the company's books that will increase revenue by a material amount. Maria researches the matter and tells Josie that recognizing revenue in this way would be premature and not consistent with GAAP. She discusses her concerns with Josie and later, Monk's CFO, both of whom insist she make the entries. She also has a confidential discussion with Monk's internal audit chief, who shares her concerns. To comply with the AICPA Code of Professional Conduct, what other option should Maria consider?
Josie is an accounting supervisor at Monk & Sons Realty. She instructs her subordinate, Maria, to make certain accounting entries in the company's books that will increase revenue by a material amount. Maria researches the matter and tells Josie that recognizing revenue in this way would be premature and not consistent with GAAP. She discusses her concerns with Josie and later, Monk's CFO, both of whom insist she make the entries. She also has a confidential discussion with Monk's internal audit chief, who shares her concerns. To comply with the AICPA Code of Professional Conduct, what other option should Maria consider?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Plz answer without plagiarism i humble request
Transcribed Image Text:Josie is an accounting supervisor at Monk & Sons Realty. She instructs her subordinate, Maria, to make certain
accounting entries in the company's books that will increase revenue by a material amount. Maria researches the matter
and tells Josie that recognizing revenue in this way would be premature and not consistent with GAAP. She discusses
her concerns with Josie and later, Monk's CFO, both of whom insist she make the entries. She also has a confidential
discussion with Monk's internal audit chief, who shares her concerns. To comply with the AICPA Code of Professional
Conduct, what other option should Maria consider?
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