accounting-As the management accountant at AJack Partnership

QUESTION

ACCT460-1204A-01 Professional Accounting

Assignment Name:

Unit 1 Discussion Board

Deliverable Length:

250 words

Details:

As the management accountant at AJack Partnership, you are
involved in the planning and control of financial statements and cost
accounting. AJack has been experiencing excellent sales and profit numbers.
You have decided to invest and purchase stock in the company. The direct
investment would not be material to the company, but it would be material to
you. In your free time, you like to go to the local Gambling and Jack Box
Boat.

Do
you think that you should face the same integrity issues that an outside
auditor faces with respect to conflicts of interest? Why, or why not?
As
an employee of the firm, do you believe that you should refrain from
engaging in questionable activities, such as gambling? Why, or why not?
Do
you believe that internal management accountants possess the degree of
skill commonly possessed by outside accountants and auditors? Explain
your reasoning.

Grading Criteria
33%
Do you think that you should face the same integrity issues
that an outside auditor faces with respect to conflicts of interest? Why, or
why not?
33%
As an employee of the firm, do you believe that you should
refrain from engaging in questionable activities, such as gambling? Why, or why
not?
34%
Do you believe that internal management accountants possess
the degree of skill commonly possessed by outside accountants and auditors?
Explain your reasoning.

Objective:

 Develop a thorough understanding of accounting standards
and principles.
 Fulfill the core accounting educational requirement to
sit for the CPA exam.
 Prepare to practice in public and private accounting
position.

ANSWER:

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