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Acct 2010

Satisfactory Essays

ACCT 2010: Fall 2012
Sections L08, L09, and L15

GROUP PROJECT
Please form groups of four to five students. Each group should analyze three cases provided below and write a short report. The objectives of the project are to help you develop the ability to 1) evaluate situations that have ethical implications, 2) identify the stakeholders and their interests, 3) describe ethical dilemmas and propose solutions, and 4) explain the importance of social responsibility. Each group should submit a written report that should include: 1. A cover page: title, section, and the names of team members (plus student IDs). 2. Case analysis: one page per case (three pages in total), 12 pt font, single-spaced, one-inch margins all around. The report is …show more content…

In fact, Smith, Godfrey, and Hannaford were counting on the revenue from the Sunrise audit to finance an expansion of the auditing firm. Discussion questions: 1. What is the ethical problem in this situation? 2. What are the alternative decisions for Smith, Godfrey and Hannaford to consider? 3. Who are the stakeholders in this situation? What are the possible consequences to each stakeholder? Analyze from the following standpoints: (a) economic, (b) legal, and (c) ethical. 4. If you were the auditor, what would you do? How would you justify your decision?

ACCT 2010: Fall 2012
Sections L08, L09, and L15

Case 2 St Genevieve Petroleum Co. is an independent oil producer in Baton Parish, Louisiana. In February, company geologists discovered a pool of oil that tripled the company’s oil reserves. Prior to disclosing the new oil reserves to the public, St. Genevieve quietly bought most of its shares back from current shareholders. After the announcement of the discovery of new oil reserves, the company’s share price increased from $6 to $27. Discussion questions: 1. What is the ethical issue in this situation? 2. Who are the stakeholders? What are the possible consequences to each stakeholder? Analyze from the following standpoints: (a) economic, (b) legal, and (c) ethical. 3. Place yourself in the role of decision maker. What decision would you have made?

Case 3: Corporate Social Responsibility (CSR) is the

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