Kumpulan MINICASE Ethichs AA

MINICASE COLLECTION
FROM
ARTHUR ANDERSEN & CO
BUSINESS ETHICS FOR ACCOUNTING

PROFESSION
Collected by:
AGUNG PRAPTAPA
PPAK FEB UNSOED
2014
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CONTENTS
ACCT - 01 Rusty and Dusty Slow Movers

Topic: Asset Valuation/Write-Downs
ACCT – 02 Conflicting Clients

Topic: Auditing (Confidentiality, Misrepresentation of Fact)
ACCT - 03 Bidding on an Audit Engagement Proposal

Topic: Client/Engagement Acceptance
ACCT - 04 Irrevocable Election

Topic: Client Services
ACCT – 05 Don’t Play Games!

Topic: Fraud in Financial Reporting Systems
ACCT – 06 Psych Me Out

Topic: Leadership (Communication, Power, Motivation)
ACCT – 07 Uncharged Hours

Topic: Performance Appraisal
ACCT – 08 Booking the Budget

Topic: Revenue Recognition
ACCT – 09 Damage Expense

Topic: Violations of Internal Control
ACCT – 10 Cash in Hand

Topic: Revenue Recognition/Misrepresentation of Fact by Client
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ACCT – 11 The Right Data
Topic: Variance Reporting
ACCT – 12 Browning’s Budget

Topic: Budgeting/Forecasting/Standard Setting
ACCT – 13 Survive the Year

ACCT – 14 ZZ Cinema
Topic: Internal Control (Segregation of Duties)
ACCT – 15 Truth or Consequences

Topic: Internal Reporting
ACCT – 16 Whatever Happened to All Those Credit Slips?

ACCT – 17 Ignore the Error?

Topic: Auditing/Materiality
ACCT – 18 Apel Manufacturing?

Topic: Accounting for Leases
ACCT – 19 Filling the Pool

Topic: Government (Cost Allocation on Government Contracts)
ACCT – 20 Independence
Sorry, the case is missing.
ACCT – 21 Plant Automation

Topic: Capital Budgeting
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ACCT – 22 Recycling Equipment
Topic: ROI/Residual Income
ACCT – 23 Budgetary Slack

Topic: Budgeting/Standard Setting
ACCT – 24 To Go or Not To Go
Topic: Staffing/Training and Development
ACCT – 25 Family Plans

Topic: Staffing
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MINICASE: ACCT - 01
BUSINESS ETHICS PROGRAM
Rusty and Dusty Slow Movers

Characters:
Ron, Inventory Control Clerk
Penny, Controller
Art, Company President
Rhonda, Sales Manager
Penny is the first Controller ever hired at a medium-sized farm

machinery company. The firm has reacquired tractors and other parts
and equipment from farmers who filed for bankruptcy or were seriously
behind in their monthly payments during a recent two-year downturn in
the economy. In addition, the firm has acquired some miscellaneous
inventory from competitors experiencing the same misfortune.
One of Penny’s initial goals is to determine how accurately the
inventory on the books reflects its fair market value. As she walks with
Ron, the inventory control clerk, through all the equipment and
inventory pallets, she notices that numerous parts and machines look
rusty and dusty. Ron informs her that while only about a third of these
items are repossessions, most are from overruns or the recession;
“many have been sitting on these skids for years.” As Penny inquires
further, it appears that this problem is extensive, and that this inventory
moves slowly. When the inventory does sell, it is at a significant
discount. Rhonda, the Sales Manager, indicates that these are really
tough times to sell this stuff, especially because most of the “slow
movers” are large-ticket items. In fact, Rhonda feels sorry for her sales
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staff since they have been forced by the company president to push
these items with only 2 percent more in commission.
Finally, Penny approaches Art, the Company President, about this
problem and asks what he intends for her to do about the dilemma. Art
informs her that he believes that many of these items are salable given
appropriate marketing and the right economic conditions. Besides,
some of his major customers owe him a few favors. Art also indicates
that now is not the right time for the company to take a hit from
inventory revaluation.
During the ensuing months, Penny did not see much movement from
these stacks. She again approached Art and asked how he would
address this issue when the audit came. Art reiterated his former
response regarding product salability and stressed actual sales across all
product lines to the auditors. He asked Penny not to point out this
problem to the auditors and finally said, “just see if they notice it. And
if they start nosing around in it, I hope you'll be able to show them that
some of these items are turning over.” Penny interpreted Art as saying
she should help falsify records if it looked like the auditors were
discovering the slow movers. Penny didn’t know what she would do
next.
Author: Curtis Jay Bonk, Ph.D., CPA, Assistant Professor of Education
Psychology, West Virginia University.
Co-author: Mary M. Bonk, CPA, Director of Financial Analysis, West
Virginia University Hospitals, Inc.
1992 Arthur Andersen & Co, SC. All rights reserved.
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MINICASE: ACCT - 02
Conflicting Clients
Topic: Auditing (Confidentiality , Misrepresentation of Fact)
Characters:
Jennifer Grace, First-year member of her CPA firm’s management
group
Tom Ward, CFO of Fantastic Developments, Inc., a client
While reviewing the current-year audit working papers of Coshocton
National Bank (CNB), the engagement manager, Jennifer Grace, noted
something curious. In the working papers related to loan valuation,
Jennifer saw that the commercial loan of Fantastic Developments had
been randomly selected for confirmation but that Fantastic had not
responded to either the initial or second confirmation request. The audit
staff disposed of this “loose end” by alternate procedures: examining
cash collections (which had become somewhat sporadic) and vouching
to underlying loan documentation, including a set of recent (unaudited)
financial statements that showed Fantastic’ s solid financial position
and operating profitability.
Jennifer noted this reference to Fantastic Developments because this
private company was also a client of her firm. In fact, Jennifer had
served as the audit senior on the prior-year audit of Fantastic. She knew
that the company had been struggling for a couple of years and had
experienced recurring operating losses. Her knowledge of Fantastic did
not reconcile with the discussion in the audit working papers related to
the financial statements furnished to the bank.
When Jennifer contacted Fantastic’s CFO, Tom Ward, and inquired
about the company’s apparently miraculous turnaround, he was
noncommittal and unhelpful. Tom replied that business had picked up.
He apologized for not calling Jennifer’s firm himself because he had
been so busy, and then he told her that Fantastic had decided to engage
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another CPA firm for its accounting and auditing needs. Although
confused, Jennifer obviously couldn’t reject the possibility that this
abrupt dismissal was a direct consequence of her inquiry.
As a result, Jennifer wonders whether the financial statements which
Fantastic furnished to the bank as a basis for a loan application are
fraudulent. The bank apparently has no such suspicion, however.
Author: Donald E. Tidrick, Assistant Professor of Accounting,
University of Texas at Austin.
1992 Arthur Andersen & Co, SC. All rights reserved. Page 1 of 1
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MINICASE: ACCT - 03
Bidding on an Audit Engagement Proposal

Topic: Client/Engagement Acceptance
Characters:
Joyce, Manager at a new audit firm
Gary, In-Charge Accountant
George and Sheila, Partners
Due to the economic downturn, George and Sheila were laid off by a
larger audit firm. They established a new audit firm and were able to
attract a few clients in the first year. They also hired Joyce and Gary,
who had been laid off by the same firm. Joyce had been a manager for
the past three years. She has been told that she can make partner if she
can quickly attract new clients. Gary was a staff accountant for three
years and was promoted to In-Charge Accountant this past year.
A prospective client in the construction industry contacted Joyce to bid
on the company’s audit work. The client was upset over the audit fees
charged by its present auditors. They were unhappy with the present
auditors’ tax work and their delay in delivering a proposal on a new
computerized accounting system. Joyce sees this situation as a perfect
chance not only to secure a new audit client for the firm, but also to
receive credit for bringing in more tax and consulting revenue.
Joyce asks Gary to prepare a draft of the bid which will be submitted to
the prospective client. Gary develops the bid based on a similar client
in the same industry and his assessment of the risk associated with a
new client. Joyce is concerned that the bid is too high. Joyce suggests
that they may be able to hire interns from a local college accounting
program to use on the audit. Gary is concerned about using
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inexperienced staff on the audit of a new client. He also read in a recent
Audit Risk Alert published in the AICPA’s CPA Letter that auditors
should be alert to cash flow problems for clients in the construction
industry. Gary argues that the risk of loss could be higher than normal
if they do not perform a quality audit.
Joyce tells Gary not to worry or say anything to George about his
concerns with the bid. She will handle any problems that come along,
either with George or the client. Joyce argues that George will not
complain about the lower audit fee because of the potential for the new
tax and consulting work. By using lower-paid staff members and eating
a little time, they could even come in at budget. Joyce also points out to
Gary that once she makes partner, there will be a position open for him
at the manager level. Joyce tells Gary to finish up the proposal based on
her suggestions, since she needs to work on a bid for another
prospective client.
Author: Dr. Lucia Peek, Associate Professor, Western Illinois
University
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MINICASE: ACCT - 04
Irrevocable Election
Topic: Client Services
Characters:
Steve, Second-year staff accountant in small CPA firm
Partner, One of the firm's partners
Steve graduated from college about a year and a half ago and has been
progressing rapidly as a staff member of a local CPA firm. Now, in
Steve’s second year at his firm, one of the partners has just stopped by
to visit with him about a tax return Steve had prepared several months
earlier. While looking at the client’s file, the partner happened to notice
that the firm should have attached to the return an irrevocable election
that would have affected the timing of recognition of certain income the
client had received and would continue to receive over the next several
years. The election had to have been filed on a “timely” basis with the
original return. Now the client faces a significant additional tax burden
for a number of years to come.
“It’s not really your fault, Steve,” said the partner. “This was a fairly
obscure election, and I wouldn’t have expected you to have discovered
it. I was out of town, and the return simply slipped through our review
process without the election attached. Now it’s too late, but I hate to see
the client have to pay all this additional tax because of our mistake. Of
course, she’ll never realize what happened unless we tell her, but
maybe we can avoid the problem entirely.”
“Here’s my idea,” the partner continued. “I’d like you to prepare the
election and attach it to our file copy of the return. Then, we’ll prepare
next year’s return as if the election had been filed on time. If any
questions come up, we’ll pull out our file copy, show it to the auditor,
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and suggest that the election must have been lost during processing at
IRS. Give it some thought, and I’ll get back to you in a couple of days.”
As the partner leaves, Steve is already nervously reviewing the
conversation. Although thankful for some time to think, he is
concerned that this could be a “no-win” situation. He has a sense of
loyalty to the firm, and he doesn’t want the client or anyone else to
suffer for his mistake. On the other hand, he has misgivings about
complying with the partner’s suggestion.
Author: Ed Scribner, Associate Professor of Accounting, New Mexico
State University
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MINICASE: ACCT - 05
Don’t Play Games!

Topic: Fraud in Financial Reporting Systems
Characters:
Russ, PresidentMonica, Vice President-Small Business Loans at local
bank
Rick, Controller
Rick was hired as Controller to help sort out and organize the records
of a $7 million dollar medical supply firm. This company was recently
extended a $1,000,000 small business loan to acquire the assets of a
competitor that was going out of business. In Rick’s view, the
acquisition was a financial mess. Inventory records were misplaced or
inaccurate, and no one could figure out the accounts receivable, most of
which were over 45 days past due. Although salesman from the
acquired firm were retained, a sales decline in the industry and poor
management of the new firm led to attrition of the best and brightest
individuals.
Because of the sales decline, the bank was pressing to know more about
the consolidated entity’s current financial situation. Monica, the bank
Vice President in charge of the loan, and her staff of bank auditors were
in daily contact with Rick. Each morning, Rick was a bit nervous about
that days’ cash draw since the firm really played the float. Moreover,
Russ, the President, would often hold large vendor checks in his desk
drawer without telling Rick.
Although the financial resources were strained at best (the firm had
trouble reimbursing petty cash), there was a sense of optimism within
the organization. As the company penetrated the nursing home
industry, it was pulling in enormous profits from Medicare due to
markups at eight times its costs. As a result of these sales, the firm
would start earning a small profit in the fourth quarter. Even at the end
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of the year, however, Russ did not want to mention these sales figures
to the bank or accrue the revenue and accounts receivable until the
checks arrived, because he was unsure when the government would be
paying for the goods, and more importantly, because he wanted to have
something in his back pocket in case the bank wanted to foreclose.
Furthermore, Russ, as the majority stockholder in the firm, was
concerned he would lose the firm if bankruptcy proceedings should
start.
After a few months of recording sales on a cash basis, Rick started
slipping hints to the bank that the company’s financial status was better
than was reported. Still, it was not his company, and he needed to keep
his job. He knew that Russ would “play games” with other people, but
he would not appreciate other people’s “playing games with him.”
Moreover, Russ did not trust new employees, and Rick knew he would
have to “earn” the President’s trust.
Author: G. Stevenson Smith, Ph.D., CPA, CMA, Professor of
Accounting, West Virginia University
Co-author: Curtis Jay Bonk, Ph.D., CPA, Assistant Professor of
Educational Psychology, West Virginia University
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MINICASE: ACCT - 06
Psych Me Out
Topic: Leadership (Communication, Power, Motivation)
Characters:
Bob, Managing Partner
Jerry, Partner
Leandra, Stacy’s Supervisor
Stacy, Junior Accountant The Psychologist
Stacy is a recently hired employee of a growing local CPA firm. The

partners of this firm have high expectations for Stacy, mainly because
he scored near the top of his graduating class. However, nothing seems
to flow right for Stacy at this firm. He is asked to perform at an
advanced level on some jobs because of heavy firm turnover at the
senior level. As a result of his inexperience, Stacy does not meet time
budgets and much of his work on tax returns has to be redone. These
problems have compounded to the point where no one thinks he can do
anything right. Near the end of his first year, he told by his Supervisor,
Leandra, and the Managing Partner, Bob, that he is on six-month
probation without a salary increase. Stacy is determined to prove that
although he has the ability, he is simply improperly managed.
During the past few months, the firm has suffered continued
resignations of staff accountants. After Stacy mistakenly charges the
wrong client account for a tax return, Jerry, the Tax Partner, loudly
reprimands him in front of his peers and tells him, “Next time it’s
coming out of your paycheck.” Later that week, as Stacy is helping
interview a candidate for one of the open accounting positions, he
accidentally chips a glass table in the conference room with his Coke
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bottle. This time, Bob asks Stacy if his insurance policy will cover the
table, and, if not, what he intends to do about it.
Not long afterwards, the accounting staff finds out that a psychologist
is coming to the firm for the week to assess the turnover problem,
employee morale, and overall firm productivity. All remaining workers,
including Stacy, describe the poor treatment of employees and awful
work environment. Not surprisingly, the resulting report from the
consultant points toward numerous management problems at the
company. Shortly thereafter, the partners take the response personally,
and rumors surface that they have put the firm up for sale. Still, the
interviews for staff positions continue. The partners have asked all
those who are interviewing candidates to present the firm in a positive
and favorable manner. Stacy doesn’t know what to tell potential new
hires about the opportunities and working conditions at this firm.
Author: Curtis Jay Bonk, Ph.D., CPA, Assistant Professor of
Educational Psychology, West Virginia University.
Co-author: Mary M. Bonk, CPA, Director of Financial Analysis, West
Virginia University Hospitals, Inc.
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MINICASE: ACCT - 07
Uncharged Hours
Topic: Performance Appraisal
Characters:Dave
Leppla, First-year in-charge on a not-for-profit engagement
Bob Wilson, Engagement manager
Dave Leppla has recently completed his second year on the audit staff
of a CPA firm. During the past year, he was assigned as a staff-level
auditor to the first-year audit of the financial statements of a not-for-
profit speech and hearing clinic. Dave has been assigned the in-charge
responsibility on this year’s audit engagement and believes that, if all
goes well, he stands an excellent chance of being promoted to senior
auditor later in the year. In addition to Dave, the audit team includes a
first-year staff person, the engagement manager (Bob Wilson), and the
engagement partner. Among Seniors, Bob Wilson is thought to be
somewhat difficult to work for, although he is widely believed to be a
good bet for admission to the partnership before long. Similar to last
year’s, the current engagement letter specifies a fixed-fee billing
arrangement.
Dave initially believed that the budgeted audit hours would be
sufficient, and early on he conveyed that expectation to Bob. However,
as the budgeted hours were nearly exhausted, Dave realized that there
were several days of audit work and related administrative tasks yet to
be completed. He was uncertain to what extent his inexperience as an
in-charge generally or his relative unfamiliarity with voluntary health
and welfare organizations specifically may have been factors in an
imminent budget overrun. Also, in Dave's view, the staff-level auditor’s
inexperience had contributed to problems in meeting the budget.
One Saturday morning at the CPA firm's office, Bob saw Dave working
on some of the engagement's “loose ends,” and he asked Dave whether
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the audit would be completed within the budget. Dave couldn’t very
well avoid acknowledging the reality of the situation, and he wondered
how much responsibility he should take personally. He was aware that
the firm had no policy on “eating time.” When Dave commented
cautiously that he didn’t know how he could finish the engagement
with the few remaining hours in the budget, Bob replied without
expression, “Well, I trust you’ll make the right decision.”
Author: Donald E. Tidrick, Assistant Professor of Accounting,
University of Texas at Austin
Co-author: Michael G. Bower, Assistant Professor of Management,
University of Notre Dame
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MINICASE: ACCT - 08
Booking the Budget

Topic: Revenue Recognition
Characters:
Connie, President
Bob, Vice President of Finance
Andy, Controller
Maria, Director of Financial Analysis
Maria and Andy worked well together to organize the accounting
system and records of a growing Health Maintenance Organization
(HMO). Bob and Connie, the two top executives in the HMO, were
tightly focused on company growth as it related to monthly and yearly
revenue. Bob was also in charge of budget reports.
Every month Maria and Andy would compile financial statements
which were reviewed by company officers and later reported in patient
and employee newsletters. Oftentimes sales would fall below Bob’s
original projections. At such times, Bob would rant and rave about the
low patient revenue accruals and comment “that surely more must be
accrued.” Andy and Maria would often remark to each other “why
don’t we just book the budget,” since that is essentially what they did
every month after their initial financial figures were reviewed, at least
in terms of sales.
Although Andy and Maria realized that at year-end the auditors would
not condone Bob’s recording practices, they were still somewhat angry
that “their” precise accounting system required monthly adjustments
because of Bob and Connie’s need to “look good to the board.”
Of course, when year-end came, the glowing financial news fell short
of projections. Although the shortfall was not enough to raise the HMO
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rates, it did send a panic through the accounting department. This
information was not reported directly to shareholders, but it was
embarrassing to make the year-end adjustments while scrambling to
uncover additional revenues; and explain to coworkers why monthly
newsletters were incorrect.
Author: G. Stevenson Smith, Ph.D., CPA, CMA, Professor of
Accounting, West Virginia University
Co-author: Curtis Jay Bonk, Ph.D., CPA, Assistant Professor of
Educational Psychology, West Virginia University
20
MINICASE: ACCT – 09
Damage Expense
Characters:
Chris, New Distribution Supervisor at a large candy manufacturer
Bob, Inventory Control Manager,
Chris’s immediate boss
Chris has been recently hired as the Distribution Supervisor for an
international candy company. The plant is in a rural area and is about to
begin a major expansion that will triple its capacity. The company has
generous benefits and has paid all moving expenses for Chris and his
family. During the move, however, the movers damaged a large piece
of oak furniture. Chris has contacted the moving company. The
insurance is by the pound and would cover only a small part of the
worth of the item. Chris has explained this to the moving company, but
it refuses to reimburse him for the item’s value.
Chris approaches his supervisor, Bob, about the problem. Chris has
been on the job about a month and enjoys the partnership they have
developed to date. Chris had originally interviewed with Bob, and
Bob’s recommendation had been a major factor in Chris’s getting the
job. Chris has found the types of challenges he was looking for in a
new position and is already becoming a major player in planning for
the new expansion.
Bob tells Chris that he does not think he can do anything to persuade
the moving company to reimburse Chris and suggests that Chris pad his
next few expense reports to cover the cost. Chris is surprised at Bob’s
suggestion, because thus far Bob has dealt with him in a very
evenhanded manner and has appeared to have strong business ethical
standards.
21
Author: Originally developed by Michael Forget, graduate student at
Washington University, as a class project in “Ethical Decision
Making.” Edited and submitted by Dr. Raymond L. Hilgert, Professor
of Management and Industrial Relations, Washington University.
22
Cash in Hand
Topic: Revenue Recognition/Misrepresentation of Fact by Client
Characters:
Heather Hunter, Senior in CPA firm“Buzz”
Thompson, Owner/manager of Fashion First
Sandy, part-time bookkeeper of Fashion First
In addition to the usual mix of compilation, review and audit clients for
which Heather Hunt serves as a senior in a small office of a regional
CPA firm, she has been assigned a new client that recently engaged the
firm. Fashion First, an incorporated retail outlet, is a thriving local
store. The business is run by a single owner/manager, “Buzz”
Thompson, who makes all major decisions. The business has not
previously used the services of a CPA firm. In addition to preparation
of financial statements, the CPA firm will handle tax returns for the
business.
At her first visit to the client’s office, Heather is introduced to Sandy,
the part-time bookkeeper who is also a full-time accounting student at
the local university. At a subsequent meeting, Sandy confides to
Heather that she found the job at the beginning of the semester after an
extensive search. Sandy really needs the money to help finance her
education, and feels lucky to have found a good-paying job during the
current economic downturn. Feeling that Heather is someone she can
talk to and get advice from, Sandy describes a situation that has been
on her mind for some time now.
Sandy’s concern relates to the handling of sales revenues. When
monies from sales revenues are counted and deposited on a weekly
basis, a chart is filled out with categories carefully delineating the type
of payment: cash, checks, American Express, or Visa/Mastercard.
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Sandy’s employer, after depositing the weekly total, brings this chart
back with his own written-in total of the actual amount deposited.
After looking over some of these weekly deposit chats, Sandy noticed
that $500 cash was missing from each deposit. After a more thorough
inspection of monthly tax documents that “Buzz” Thompson has filled
out, Sandy noticed that the reported monthly gross revenue was $2,000
less than what had been actually counted.
The employer is the only person handling the money after it has been
counted. He is also the only one to deposit the money. When Sandy
asked Mr. Thompson about revenue not being reported for tax
purposes, he assured her that every dollar of income was reported on
the tax forms. Furthermore, “Buzz” asserted, since Sandy wasn’t the
person who signed the forms, she shouldn’t be concerned.
Author: Mary Brady Greenawalt, Associate Professor of Business
Administration, The Citadel
Co-author: Janine Cloutier, Virginia Tech
24
The Right Data

Topic: Variance Reporting
Characters: Arnie Armstrong, Director of Manufacturing Computer
Services
Willy McClean, Manager, Manufacturing Department 207
Kathy Cleary, Supervisor, Manufacturing Department 201
Arnie Armstrong has been with Pierce Auto Parts Manufacturing
Company for 23 years. Recently, he was appointed Director of
Manufacturing Computer Services. In just six weeks in this new
position, [he] has moved to reduce the amount of information provided
to manufacturing department managers by 60 percent. He argues that
excess data is distracting, unused, and expensive to provide.
Willy McClean has been department manager for 12 years. During a
coffee break with some of his department production supervisors, Willy
is quite vocal about the change. “Who’s this guy Armstrong to tell us
what data we need? He needs to be out here for a few weeks to find out
what it’s like. Keep it quiet, but I’ve got a contact in Computer Services
who’ll get me all the data analyses I want for just a $20 bill each
month. It’s a good deal, and Armstrong will never know. How does he
expect us to make good decisions about those variances without enough
data? This guy in CS can get any of you data if you need it.”
Kathy Cleary, overhearing Willy, is shocked. “Is that ethical, Willy?
Do you really need that extra data? Can’t you get the information
without going around Armstrong? I sure don’t want to pay for anything
Mr. Armstrong doesn’t want me to have.”
“Kathy, you've only been a supervisor six months,” Willy replies. “It’s
just how the firm operates. Try it, and you'll see it’s worth the $20. You
can't make good decisions with the stuff Armstrong gives us now.”
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Kathy doesn't respond, and the coffee break ends with people returning
to their jobs.
Later that evening Kathy begins to think about what Willy said. She
knows that he is a good manager, but she does not want to have to buy
information to do her job correctly. Tomorrow she is scheduled for a
staff meeting with Mr. Armstrong. She is uncertain about what to do or
say, if anything.
Author: Leo A. Ruggle, Professor, Department of Accounting,
Mankato State University
26
Browning’s Budget
Topic: Budgeting/Forecasting/Standard Setting
Characters:
Edward Saylor, Browning College controller
Albert Cauldron, aide to the controller
Browning College is a private Midwestern liberal arts college with a
national reputation for quality and innovation in curriculum and
learning design. Recent rumors hint at serious emerging financial
problems, in sharp contrast with the institution’s half-century of stable
financial history.
Edward Saylor, Browning’s controller, has scheduled a news
conference for noon today. His objective is to get the financial problem
rumors stopped by providing the news media with the necessary data
and information. Mr. Saylor’s aide, Albert Cauldron, discovers an
interesting situation while preparing for the news conference: there are
significant differences between the board-approved budget and the
budget currently being used. In fact, the current budget includes
approximately $500,000 in additional expenditures that do not appear
in the budget formally approved by the governing board.
“I don’t want anyone else to get hold of this information, Albert,”
directs Mr. Saylor. “Get a copy of our actual operating budget, and
substitute it for the one attached to the board minutes giving approval.
No one will know. The board members can’t remember details of the
budget they approved. The public’s perception is more important than
those details, and I’ve got to deal with a perception problem at that
news conference today.”
27
Albert hesitates, starts to speak but is cut short by Mr. Saylor’s
directive: “OK, let’s get to it!”
Author: Leo A. Ruggle, Professor, Department of Accounting,
Mankato State University
28
Survive the Year

Characters:
Chris, new controller of a small construction company
Robin, CEO of the same company
Chris, a CPA and formerly a staff accountant for a large public
accounting firm, is the new controller for a small construction company
that employs 60 people. The company is now facing tough times in
light of a downturn in the construction industry.
Both Chris and the CEO, Robin, know the collectibility of a material
receivable from Ender Corporation is in doubt. Just before year-end,
Chris goes in to talk to Robin. Chris says, “Ender has real problems.
The word on the street is they won’t last the year. We need to adjust the
allowance for the Ender receivable.”
Robin replies, “If we do that, we're not going to look good, and the
auditor may have to mention our shaky financial position. If we don’t
get a clean opinion, we won’t get the bank loan we’re applying for, and
we might be out of business, too, by this time next year. This loan is
really important to us. If we can just weather this downturn, I know
business will pick up.”
Back in the controller’s office, Chris ponders what can be done to help
Robin and the company. Chris remembers the past years working in
public accounting and is certain the auditor would want to know about
Ender’s difficulties.
Author: Sandra K F1eak, Associate Professor of Accounting, Northeast
Missouri State University
29
Co-author: Phillip J. Korb, Assistant Professor, University of
Baltimore
30
ZZ Cinema
Topic: Internal Control (Segregation of Duties)
Characters:
John, Manager of Theatre Franchise
William, Assistant Manager of Theatre
Diana, Staff Accountant of Franchise Jodi, Ticket seller and cashier
Bob, Doorman
Diana is a college graduate with accounting as her major and is

planning to take the CPA exam. She recently accepted the Staff
Accountant’s position with the ZZ Cinema Franchise. There are 20
theatres that are owned by the Franchise in a widely spread geographic
area.
John is manager of all the locations of the theatre franchise and
William, distantly related to him, is the Assistant Manager working
solely at his location. Jodi sells tickets from a glass cage and collects
the cash from patrons. At the end of the last show, he adds up the cash
receipts, reconciles his sales and hands over unsold tickets and cash to
William. Bob, the doorman, collects the tickets from incoming patrons,
tears the tickets into two, hands over one to the patron and drops the
second half into a little locked box which William picks up at the end
of the day. William prepares the bank deposit slip, deposits the cash in
the bank, and keeps the bank receipts and the unsold tickets in the
office safe to which he has the only key. William also prepares the
bank reconciliation statements and submits weekly sales reports to
Diana.
31
Of late, William has volunteered quite frequently to speed up ticket
sales on crowded days by working Jodi’s station at the sales counter.
John has not objected to this practice. During the past month William
has been seen driving a fancy new Lexus to work and seen dining with
an attractive blond at the town’s expensive restaurants. Diana finds
from William’s reports that sales have shown no change from previous
weeks, even though there appears to be an obvious and significant
increase in movie theatre attendance during the summer season. This
puzzles Diana, who suspects this apparent discrepancy is being
pocketed by William. More puzzling, why hasn’t John also noticed this
problem? Diana wonders if she should report her suspicions to
someone in authority. After all, she has no proof. More importantly,
should she go to John? He might be involved in this possible scam.
What should she do?
Author: Hema Rao, CPA, DBA, Assistant Professor, School of
Business, University of Wisconsin-Parkside
Co-author: Charles Alworth, Assistant Professor of Accounting, Texas
A&I University
32
Truth or Consequences
Topic: Internal Reporting
Characters:
Dawn Sunshine, Controller of a medium-sized company
Bill Donner, In-charge CPA
Bill Donner, CPA, is the senior in-charge of an audit of a medium-sized
($20M in assets) client, Minter Metroplex. The controller of Minter is
Dawn Sunshine, CPA who had been a staff accountant with Bill’s firm.
Dawn left the firm about a year ago. Dawn had worked with Bill in the
past. They had dated approximately five years ago, before Dawn’s
marriage. Bill had attempted to renew their relationship after Dawn’s
divorce, but Dawn had not expressed any interest in dating him.
During the year-end audit phase, Bill discovered, through his analytical
review, that the gross profit ratio for Minter had been materially
understated. His investigation revealed that the company failed to
record last year’s LCM inventory adjustment to the perpetual records.
Although last year’s ending inventory control balance was written
down, the individual inventory cost amounts were never revised
downward. Therefore, this year’s gross profit and pretax were
understated by $300,000.
When Bill presented this evidence to Dawn, she agreed that her
department had erred in not posting this prior year’s adjustment to the
subsidiary inventory records. Unfortunately, because the interim
financial statements reflected these depressed earnings, the company
had laid off three administrative people, including one of Dawn’s
assistants.
33
Dawn was apprehensive about bringing this omission to management’s
attention because of the layoffs and other corrective actions that Minter
had pursued, including abandoning a $20,000 option payment made on
a parcel of land for expansion of the warehouse facilities.
Bill was sympathetic with Dawn’s anxiety about disclosing this
information since he felt that such an admission of oversight could have
a detrimental impact on her career with Minter. Bill proposed that the
$300,000 correction could be disguised as a recent reinterpretation of
the uniform capitalization rules. Management had never understood
these rules, and Bill knew that their ignorance--coupled with euphoria
over additional income--would not lead to any additional questions
regarding this windfall. Bill suggested to Dawn that they meet for
dinner and then go over to his place later to talk about it. Down agreed.
Author: Robert R Davis, Associate Professor of Accounting, Canisius
College
34
Whatever Happened to All Those Credit Slips?

Characters:
William Dalton, President of Dalton Enterprises, Inc.
Chauncy Dalton, VP of Finance and future President (?)
Tim Johnson, In-charge CPA George Smerlas, Controller
Tim Johnson, CPA, is the senior in-charge on an audit of a medium
sized ($20M in assets) client, Dalton Enterprises, Inc. This client is a
family owned and operated corporation. Mr. William Dalton (67 years
old) is the president who micro manages all aspects of the business
except the finance area, which he leaves entirely to his son, Chauncy,
who has been newly appointed as the VP of Finance. Chauncy, recently
graduated with an MBA, and majoring in finance, is responsible for
administering all the financial and accounting aspects of the business
including the appointment of the auditors. Chauncy replaced Herb
Castle who retired after thirty years with the organization. George
Smerlas as controller reports directly to Chauncy.
The audit report has never circulated outside the organization. The
report provides a basis for the tax return which George prepares. It also
provides Mr. Dalton with supplemental schedules including
comparative aging schedules and a detail comparative listing along
with the changes in all of the general ledger accounts. Mr. Dalton used
the audit report, along with the management letter, for administrative
control purposes.
While analyzing the travel and entertainment expenditures, which were
substantially ($20,000) higher than last year’s amount, Tim noted that
most of the increase was attributable to payments made on Chauncy's
behalf. The supporting documentation for these expenditures were very
35
sketchy and in most cases, the only documentation was a check request
initiated by Chauncy. All other T&E expenditures, including the
modest payments on Mr. Dalton’s behalf, were properly documented.
When queried about this documentation problem, George
acknowledged that the company’s policy of having the immediate
supervisor of the person requesting payment for T&E approve the
voucher were circumvented here. But considering the circumstances,
George was not concerned about the problem. When asked about the
$25,000 travel advance due from Chauncy, George replied, “He signed
your confirmation request acknowledging the amount due, didn’t he?”
Tim decided to discuss the problem of lack of approvals and
documentation with Chauncy. Chauncy's response was to questions
why the auditors would be skeptical of his honesty and motives here.
He also stated that it was typical of “bean counters” to pursue areas that
are of little significance, while ignoring areas where efficiency could be
improved. He ended the interview by asking, “What are we paying you
guys for anyhow?”
All other audit areas and financial statement disclosures are deemed
satisfactory.
Author: Robert R Davis, Associate Professor of Accounting, Canisius
College
36
Ignore the Error?

Topic: Auditing/Materiality
Characters: Kelsey, Senior accountant for a local CPA firm
Bruce, Audit manager for the same CPA firm
Kelsey, a senior accountant at a multi-office CPA firm, is assigned to
the audit of Compo Corporation. Compo is a closely held corporation
and a major client of the firm. During the audit, Kelsey finds a material
cutoff error which causes Compo’s income to be significantly
misstated. Kelsey is aware that the CPA firm’s policy clearly states the
audit senior must document any potential material adjustment in the
work papers. The final determination of materiality is then made by the
partner in charge of the audit. Kelsey also knows Compo does not want
to make the adjustment.
Before wrapping up the field work, the audit manager, Bruce, tells
Kelsey, :Let’s not mention this adjustment in the work papers. Since
Compo is closely held and there are not tax implications, the partner
has decided not to force an adjustment. Compo is our largest client. We
need to get the Compo work up to the partner as soon as possible.”
Kelsey is concerned and upset after the conversation with Bruce.
Failure to document such a material amount just does not seem right.
Author: Sandra K. Fleak, Associate Professor of Accounting, Northeast
Co-author: Scott R Fouch, Assistant Professor of Accounting,
Northeast Missouri State University
37
Apel Manufacturing?
Topic: Accounting for Leases
Characters:
Jon, recently hired controller for Apel Manufacturing
Rex, CEO of Apel Manufacturing
Apel Manufacturing is a small nonpublic manufacturing company with

plans to automate its production process and add a third production
shift. Management thinks the improved technology and increased
production are the only feasible ways the company can remain
competitive. All of Apel’s buildings are owned by the controlling
shareholders and leased to the company on a yearly basis. The leasing
arrangement was established eight years earlier to maximize tax
benefits; as long as Apel needs the facilities, they will be available to
the company. Apel’s financial statements have not shown a lease
liability during that period.
After a few years of public accounting experience, Jon recently joined
Apel as controller. Jon is presently reviewing the financial statements
to prepare for the upcoming audit and to begin making the needed loan
application. In Jon’s opinion, there is no doubt the building lease
should be treated as a capital lease.
John decided to discuss the lease accounting with Rex, Apel’s CEO.
When shown the requirements of Statement of Financial Accounting
Standards No. 13, Rex insisted that the lease not be classified as a
capital lease. Rex stated his belief that the lease meets none of the four
criteria used for lease classification in Statement No. 13, and he made it
38
clear to John that a capital lease liability should not be shown on the
financial statements. He said that Apel could not afford to jeopardize its
loan application in any way.
Jon is concerned that Rex’s direction for reporting the lease is not fair
disclosure. Given that he is a new employee, John is confused about
how to proceed.
Author: Sandra IG Fleak, Associate Professor of Accounting, Northeast
Co-author: Scott R Fouch, Assistant Professor of Accounting,
Northeast Missouri State University
39
Filling the Pool

Topic: Government (Cost Allocation on Government Contracts)
Characters:
Bob, staff internal auditor at a medium-sized company
Jan, senior internal auditor, Bob's supervisor
Bob, a CPA, is an internal auditor at a medium-sized company for

which cost-reimbursable defense and other contracts with the federal
government compromise 40 percent of its business. Bob’s current task
is to review items and amounts which have been assigned to the general
and administrative (G&A) cost pool as a basis to support the allocation
rate. These costs are allocated to government contracts and commercial
business based on the percentage of the direct labor content of each
category. The allocation rate is based on budgeted G&A amounts and
applied as the contracts are completed. Government auditors
subsequently verify whether the G&A pool costs are reasonable and
allowable charged to contracts.
This is Bob’s first assignment to this type of work. In sampling items in
the current pool, he found several that struck him as questionable for
charging to government contracts. They included items such as flowers
and catered food for various occasions, employee travel to commercial
trade shows, and depreciation on company recreational equipment. He
found no evidence of similar items in last year’s workpapers. Not sure
of the materiality of the items, he consulted Jan, his supervisor.
Jan informed Bob that he didn’t understand how the G&A cost pool
worked She told him that she had done the internal audits of the pool
40
the last two years. She did not consider the types of items Bob found as
material; thus, when she found similar items, she excluded them from
consideration. However, she argued, the items were legitimate business
costs and, in the aggregate, helped fill the G&A pool. Just because they
didn’t appear to be related to government contracts was not a good
reason to exclude the cost. Further, filling the pool was necessary to get
a good budgeted G&A rate for future years’ contracts. Although the
company’s G&A rates, like those of its competitors, had increased
steadily over the year, the actual rates have always been less than
budgeted. Further, the government auditors probably wouldn’t even
bother to check the pool for individual items since the actual rate is
better than budget this year. In fact, last year they just looked at her
workpapers to substantiate many of the charges to the pool. Finally, if
all the seemingly unrelated items were left out of the government might
think the company had been “padding the budget” in prior years. She
advised Bob to forget the items, just as she had. Her last comment was,
“We’ll all be better off if you do.”
Jan’s reaction was troubling to Bob. Despite her arguments, he
wondered whether it was right to “fill the pool” with questionable
costs.
Author: David J. Harr, Assistant Professor of Accounting, George
Mason University
41
Independence
Sorry, the case is missing.
42
Plant Automation
Topic: Capital Budgeting
Characters:
George, a recent M.B.A. who is the only cost accountant at a
manufacturing plant which is the largest employer in Cedar Valley, a
town of about 20,000 people
Arthur, the plant manager
Arthur: “George, come into my office for a few minutes. You know
that the company brass want to increase the amount of automation in
some of our factories. I just got word that this plant will be the first to
be automated.”
George: “But the cost and accounting analyses we sent to headquarters
last fall showed that it wouldn’t be profitable to make changes like that
in this plant. Why did they pick this one?”
Arthur: “Apparently, top management wants to try robots and all the
high-tech gadgets at one factory, to see if they increase product quality
and pay for themselves. They think that in the long run, stockholders
will benefit from automation. Anyway, the decision has been made, and
it’s our job to make it work. We’re going to have to sell the work force
and the community on the decision.”
George: “That won’t be easy. Hundreds of people are going to lose
their jobs. There isn’t much else that they can do around here, either.”
Arthur: “Some of the factory people will be able to stay on, if they get
some additional training. We can convince the workers and the people
in town that the decision was necessary, if we can show them
accounting and cost information to justify the decision. If they see
43
good, sound reasoning for the action, they’ll be less likely to resist and
cause trouble. We need for them to maintain productivity and
efficiency until the new equipment is here. I want you to work on a cost
summary we can release to the employees and the town newspaper,
showing why automation is a good idea.”
George: “But the net present value and other analyses I did earlier
showed this plant should stay the way it is.”
Arthur. “When we were working on the analyses, you said yourself that
the benefits of automation are hard to identify and assign numbers to.
You had to make several assumptions in order to do those analyses. If
you change some of your assumptions, you can make the numbers look
better. Try a longer useful life for the new equipment, or change some
of the projected cost information. As soon as you have the new
numbers, bring them to me to look at.”
Author: Sue Atkinson, Assistant Professor, Tarleton State University
44
Recycling Equipment
Topic: ROI/Residual Income
Characters:
David Hendricks, the cost accountant for a small, closely held chemical
manufacuring company
William Jones, the plant manager
The chemical company currently gets rid of waste solvents by paying a

hazardous waste disposal company to dispose of them in a special
landfill site. The board of directors asked William Jones to find ways to
reduce the cost of disposing the solvents. Jones then requested that
David Hendricks determine the cost and effectiveness of equipment for
recycling the solvents.
David has learned that the equipment would considerably reduce the
amount of solvent being discarded. When he consulted two industry
sources for estimates of the cost savings to the company, he found that
they disagreed considerably about expected future costs for the disposal
of hazardous wastes. With the lower estimate of cost savings, purchase
of the equipment would increase the company’s net income but would
decrease the return on investment because the recycling equipment is
very expensive. David recalculated his analyses with the higher
estimate of cost savings. With the greater cost savings, the recycling
equipment would increase both net income and ROL.
David is uncertain which analysis to present to Mr. Jones. David is very
concerned about the environment and believes that the company should
make a commitment to recycling. He thinks that the second analysis,
45
which shows an increase in ROI, is more realistic, but he realizes that
his opinion may be biased. David knows that the company’s return on
investment affects the bonuses for company managers. The board of
directors and stockholders are very interested in both net income and
ROL David believes that if he presents both analyses to Mr. Jones, the
plant manager will not support the project. If David gives Jones only
the second analysis, the manager may recommend approval to the
board of directors
Author: Sue Atkinson, Assistant Professor, Tarleton State University
46
Budgetary Slack
Topic: Budgeting/Standard Setting
Characters:
Jennifer, a cost accountant working in a manufacturing division of a
large corporation
Ron, the budgeting and standards supervisor and Jennifer’s superior in
the accounting department
Jennifer has been working on next year’s budgets for some of the
division’s products. After Ron looked over her work, he called her into
his office.
Ron: “Jennifer, the budgets look pretty good, except that your estimates
of materials costs seem too low.”
Jennifer: “I checked with production and engineering people, and they
told me they expect materials costs to be down. They are trying some
new procedures which are almost certain to reduce materials waste and
damage significantly.”
Ron: “It’s too soon to know how much materials costs will drop, or
even if they will be lower. I want you to redo the budget with materials
costs about where they have been for this year. Then if materials costs
are lower next year, the division will beat the budget and look good.
There may be some good bonuses next year.”
Jennifer: “Using the current materials quantities puts slack into the
budget for next year.”
Ron: “Most managers try to get some slack into budgets. There’s
nothing wrong with that. Since the new procedures are still
47
experimental, they haven’t been reported to corporate headquarters.
This is a perfect opportunity to get an easy budget. I know that’s what
the division controller expects and wants. Get the revisions to me as
soon as you can.”
48
To Go or Not To Go
Topic: Staffing/Training and Development
Characters:
Boris Zvernisky, senior accountant at a large accounting firm
Julie Corradino, partner at an accounting firm
Boris Zvernisky, a senior accountant, has just completed his third year
at a large accounting firm. During this time, Boris has been consistently
evaluated as an above average performer and a “team player.” Lately
Boris has been concerned about the heavy work load in this firm and
has decided to enroll in an MBA program. He recently applied for
admission to several of the nation's top business schools. The school in
which Boris is most interested had an October 1 deadline for a trial
financial aid package, designed to attract top candidates, which covers
all costs and pays $10,000 per year. This is the first year for the
program and there is no guarantee that the program will be available in
future years. Based on his conversations with university officials, Boris
is quite optimistic about being admitted and receiving the funding, even
though a final decision will not be made until February. Boris plans to
enter an MBA program, even without the special funding, beginning in
August of the following years, but he has told no one at the firm of his
plans.
Julie Corradino, a partner in charge of training and development for the
local office, has just received information from the national office of
the firm related to a five-month accounting internship-exchange
program the firm has arranged with offices in Europe, Australia, and
[Russia]. Applicants must have three to five years with the firm, be
above-average performers, have long-term career potential with the
firm, and be fluent in the host country’s language. Julie immediately
49
thinks of Boris, who is a first-generation American with strong family
connections in [Russia]. Julie arranges to have lunch with Boris the
next day.
At lunch Julie confirms that Boris is fluent in Russian and then presents
to him the information on the five-month internship in the Moscow
office, from January through May of the following year. Boris and Julie
talk with excitement about the personal and professional benefits of
five other relatives who live in Russia. The firm would benefit by
having someone with experience in the Moscow office. Julie thinks
Boris has an excellent chance of being selected for the program and
offers to write a recommendation letter for him. She gives Boris an
application and encourages him to complete it immediately, since it is
now mid-October and the application deadline is November 1.
That night, Boris sits down to consider his career plans. Although he is
very excited about the opportunity to go to Moscow, he is also
convinced that he would love to enroll in a full- time MBA program in
the fall. He realizes that it is possible to intern in the Moscow office
from January through May, return to his current office for June and
July, and then begin the MBA program in August. Boris wonders if he
should talk to Julie about his MBA plans, but he hesitates. He knows
that firm policy requires only a two-week notice prior to leaving the
firm. Boris decides that there is no harm in applying, but he questions
his long-term intentions with the firm and wonders what to do.
Author: Dr. Cynthia J. Rooney, CPA, CMA, Asst. Prof., College of
William & Mary Co-author: Mary Loyland, Assistant Professor,
University of North Dakota
50
Family Plans
Topic: Staffing
Characters:
Barbara, the controller of Atex, Inc., a small manufacturing company
Sam, the controller of Smith, Inc., a small manufacturing company
Barbara is a controller of Atex, Inc., a small regional manufacturing

company. During her four years of employment at Atex, she has
worked her way up through the ranks. She has been the controller for
the past year and has consistently received favorable evaluations.
Barbara enjoys her work and is good at what she does.
Atex, Inc., is close to finalizing a merger with Smith, Inc., a similar
manufacturing company. The merger will be finalized in two weeks, on
July 1. When the companies merge, various positions will be
eliminated to avoid duplication of efforts in the merged company. A
variety of positions will be cut, including manufacturing workers,
office staff, and management positions. The decisions on personnel cuts
will be announced August 1.
Sam, the controller of Smith, Inc., has been with that company for less
than a year. He is perceived favorably by management. The newly
merged company will need only one controller, and Barbara has
received unofficial confirmation that she will be the controller of the
new firm and that Sam will be dismissed.
Barbara has had significant responsibility for her parents during the
past two years. Her father has terminal cancer, and the specialist has
given him only six months to live. Her mother is emotionally distressed
and needs special attention from time to time. In addition, after years of
51
trying, Barbara has recently found out that she is pregnant. She plans to
take a short maternity leave and then return to work full-time.
Barbara realizes the time demands of her current and experted family
and also the time demands of working as the controller of the newly
merged company. She feels that she will be able to balance her personal
and professional life in such a way that her job performance will not
suffer. Yet, she wonders if she should make her boss aware of her
responsibility to her parents and her pregnancy.
Author: Dr. Cynthia J. Rooney, CPA, CMA, Asst. Prof., College of
William & Mary Co-author: Mary Loyland, Assistant Professor,
University of North Dakota
52

Kumpulan MINICASE Ethichs AA

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MINICASE COLLECTION

BUSINESS ETHICS FOR ACCOUNTING

ACCT - 01 Rusty and Dusty Slow Movers

ACCT – 02 Conflicting Clients

ACCT - 03 Bidding on an Audit Engagement Proposal

ACCT - 04 Irrevocable Election

ACCT – 05 Don’t Play Games!

ACCT – 06 Psych Me Out

ACCT – 07 Uncharged Hours

ACCT – 08 Booking the Budget

ACCT – 09 Damage Expense

ACCT – 10 Cash in Hand

ACCT – 12 Browning’s Budget

ACCT – 13 Survive the Year

ACCT – 15 Truth or Consequences

ACCT – 16 Whatever Happened to All Those Credit Slips?

ACCT – 17 Ignore the Error?

ACCT – 18 Apel Manufacturing?

ACCT – 19 Filling the Pool

ACCT – 21 Plant Automation

ACCT – 23 Budgetary Slack

ACCT – 25 Family Plans

Rusty and Dusty Slow Movers

Penny is the first Controller ever hired at a medium-sized farm

BUSINESS ETHICS PROGRAM

BUSINESS ETHICS PROGRAM

Bidding on an Audit Engagement Proposal

BUSINESS ETHICS PROGRAM

BUSINESS ETHICS PROGRAM

Don’t Play Games!

BUSINESS ETHICS PROGRAM

Stacy is a recently hired employee of a growing local CPA firm. The

BUSINESS ETHICS PROGRAM

BUSINESS ETHICS PROGRAM

Booking the Budget

BUSINESS ETHICS PROGRAM

BUSINESS ETHICS PROGRAM

BUSINESS ETHICS PROGRAM

The Right Data

BUSINESS ETHICS PROGRAM

BUSINESS ETHICS PROGRAM

Survive the Year

BUSINESS ETHICS PROGRAM

Diana is a college graduate with accounting as her major and is

BUSINESS ETHICS PROGRAM

BUSINESS ETHICS PROGRAM

Whatever Happened to All Those Credit Slips?

BUSINESS ETHICS PROGRAM

Ignore the Error?

BUSINESS ETHICS PROGRAM

Apel Manufacturing is a small nonpublic manufacturing company with

BUSINESS ETHICS PROGRAM

Filling the Pool

Bob, a CPA, is an internal auditor at a medium-sized company for

BUSINESS ETHICS PROGRAM

BUSINESS ETHICS PROGRAM

BUSINESS ETHICS PROGRAM

The chemical company currently gets rid of waste solvents by paying a

BUSINESS ETHICS PROGRAM

BUSINESS ETHICS PROGRAM

BUSINESS ETHICS PROGRAM

Barbara is a controller of Atex, Inc., a small regional manufacturing