Ethical Case: The case is related to the error in projection presented by accountant, which leads to major changes in the company, after few months sale is beyond projection which offsets the mistake of accountant. In this case, accountant of W Company made a projection based on past profits of the company. The projection was presented and approved by the senior management and changes in production area and plants have been made. After few months accountant rechecked his projection and found his mistake, which is not known by any one. Now, whether the accountant confesses his mistake and informs the stakeholder that the profits made by the W Company are material as projections made are incorrect. To identify: The stakeholders.

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Answer 1

Question

Chapter 22, Problem 22.6BYP

(a)

To determine

Ethical Case: The case is related to the error in projection presented by accountant, which leads to major changes in the company, after few months sale is beyond projection which offsets the mistake of accountant.

In this case, accountant of W Company made a projection based on past profits of the company. The projection was presented and approved by the senior management and changes in production area and plants have been made. After few months accountant rechecked his projection and found his mistake, which is not known by any one. Now, whether the accountant confesses his mistake and informs the stakeholder that the profits made by the W Company are material as projections made are incorrect.

To identify: The stakeholders.

(b)

To determine

To identify: An ethical issue.

(c)

To determine

To identify: The possible action of Mr. S.

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Answer 2

Question

Chapter 22, Problem 22.6BYP

(a)

To determine

Ethical Case: The case is related to the error in projection presented by accountant, which leads to major changes in the company, after few months sale is beyond projection which offsets the mistake of accountant.

In this case, accountant of W Company made a projection based on past profits of the company. The projection was presented and approved by the senior management and changes in production area and plants have been made. After few months accountant rechecked his projection and found his mistake, which is not known by any one. Now, whether the accountant confesses his mistake and informs the stakeholder that the profits made by the W Company are material as projections made are incorrect.

To identify: The stakeholders.

(b)

To determine

To identify: An ethical issue.

(c)

To determine

To identify: The possible action of Mr. S.

Expert Solution & Answer

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Answer 3

Question

Chapter 22, Problem 22.6BYP

(a)

To determine

Ethical Case: The case is related to the error in projection presented by accountant, which leads to major changes in the company, after few months sale is beyond projection which offsets the mistake of accountant.

In this case, accountant of W Company made a projection based on past profits of the company. The projection was presented and approved by the senior management and changes in production area and plants have been made. After few months accountant rechecked his projection and found his mistake, which is not known by any one. Now, whether the accountant confesses his mistake and informs the stakeholder that the profits made by the W Company are material as projections made are incorrect.

To identify: The stakeholders.

(b)

To determine

To identify: An ethical issue.

(c)

To determine

To identify: The possible action of Mr. S.

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Answer 4

Question

Chapter 22, Problem 22.6BYP

(a)

To determine

Ethical Case: The case is related to the error in projection presented by accountant, which leads to major changes in the company, after few months sale is beyond projection which offsets the mistake of accountant.

In this case, accountant of W Company made a projection based on past profits of the company. The projection was presented and approved by the senior management and changes in production area and plants have been made. After few months accountant rechecked his projection and found his mistake, which is not known by any one. Now, whether the accountant confesses his mistake and informs the stakeholder that the profits made by the W Company are material as projections made are incorrect.

To identify: The stakeholders.

(b)

To determine

To identify: An ethical issue.

(c)

To determine

To identify: The possible action of Mr. S.

Expert Solution & Answer

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Answer 5

Chapter 22, Problem 22.6BYP

(a)

To determine

Ethical Case: The case is related to the error in projection presented by accountant, which leads to major changes in the company, after few months sale is beyond projection which offsets the mistake of accountant.

In this case, accountant of W Company made a projection based on past profits of the company. The projection was presented and approved by the senior management and changes in production area and plants have been made. After few months accountant rechecked his projection and found his mistake, which is not known by any one. Now, whether the accountant confesses his mistake and informs the stakeholder that the profits made by the W Company are material as projections made are incorrect.

To identify: The stakeholders.

(b)

To determine

To identify: An ethical issue.

(c)

To determine

To identify: The possible action of Mr. S.

Answer 6

Chapter 22, Problem 22.6BYP

(a)

To determine

Ethical Case: The case is related to the error in projection presented by accountant, which leads to major changes in the company, after few months sale is beyond projection which offsets the mistake of accountant.

In this case, accountant of W Company made a projection based on past profits of the company. The projection was presented and approved by the senior management and changes in production area and plants have been made. After few months accountant rechecked his projection and found his mistake, which is not known by any one. Now, whether the accountant confesses his mistake and informs the stakeholder that the profits made by the W Company are material as projections made are incorrect.

To identify: The stakeholders.

Answer 7

Chapter 22, Problem 22.6BYP

(a)

To determine

Ethical Case: The case is related to the error in projection presented by accountant, which leads to major changes in the company, after few months sale is beyond projection which offsets the mistake of accountant.

In this case, accountant of W Company made a projection based on past profits of the company. The projection was presented and approved by the senior management and changes in production area and plants have been made. After few months accountant rechecked his projection and found his mistake, which is not known by any one. Now, whether the accountant confesses his mistake and informs the stakeholder that the profits made by the W Company are material as projections made are incorrect.

To identify: The stakeholders.

Answer 8

(b)

To determine

To identify: An ethical issue.

Answer 9

(b)

To determine

To identify: An ethical issue.

Answer 10

(c)

To determine

To identify: The possible action of Mr. S.

Answer 11

(c)

To determine

To identify: The possible action of Mr. S.

Answer 12

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Answer 13

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Answer 14

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Answer 15

Ch. 22 - Prob. 1Q Ch. 22 - Prob. 2Q Ch. 22 - Prob. 3Q Ch. 22 - Prob. 4Q Ch. 22 - Prob. 5Q Ch. 22 - Prob. 6Q Ch. 22 - Prob. 7Q Ch. 22 - Prob. 8Q Ch. 22 - 9. “Cost-volume-profit (CVP) analysis is based...Ch. 22 - Prob. 10Q

To identify: An ethical issue.

To identify: The possible action of Mr. S.

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Chapter 22 Solutions