The writer is very fast, professional and responded to the review request fast also. Thank you.
Suppose that you are involved in negotiations with the local labor union regarding wages for your company’s employees. Labor leaders are asking that their members be given an average annual raise of 12%. The company president has asked you to prepare a set of financial statements that portrays the company’s performance as being mediocre at best. The president also makes it clear that she does not want you to prepare fraudulent financial statements. All estimates must be within the bounds of reason. Your answers to the following questions should be at least 300 words when combined.So you come up with the following:Change the percentage used for estimating bad debts from 1.5% to 2%.Elect to use the LIFO method for valuing inventory because the prices associated with inventory have been rising.Change the average estimated salvage value of long-term assets from 15% to 10% of historical cost.Change the depreciation method from straight-line to an accelerated method.Change the average estimated useful life of long-term assets from 10 years to 7 years.As you know, each of these changes will result in net income being lower. Each of these changes is also still within the bounds of reason required by the company president.1. Would it be appropriate to make the changes described above in order to obtain favorable terms from the labor union negotiators?2. If the above changes are made, what sort of disclosure do you think should be required?
You saw in Chapter 6 that a company’s management selects the percentage to be usedwhen computing bad debt expense. You noted in Chapter 7 that management is allowedto choose the method for…
Show more
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.
Read moreEach paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.
Read moreThanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.
Read moreYour email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.
Read moreBy sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.
Read more