Harmony is the Senior accountant of a Bank. Junior accountants of all the branches reportto her. While preparing for the final quarter sales report, she finds that two out of the fourbranches have failed to achieve the sales targets for the second consecutive quarter.According to the company policy, the branches that fail to achieve targets in twoconsecutive quarters have to be closed. Harmony feels sad for all the people losing theirjobs and decides that she will overstate the sales revenue generated by every branch andreport manipulated figures in the financial statements. Answer the following questions. Describe Harmony’s actions from ethical standpoint. Is she doing the right thing? What can be the consequences of Harmony’s actions. What are the risks involved? What would you suggest to Harmony? (please cite paragraph according to the MLA citation?  Please note this is not an essay.

Q: Ethics in Action Tonya Latirno is a staff accountant for Cannally and Kennedy, a local CPA firm. For…

A: Ethics refers to branch of philosophy that includes defending, systematizing, and recommending…

Q: Brecha Hogan is president of Hogan Company, a manufacturer of toys for children. For the past 10…

A: Journal Entry: Journal entry is the act of keeping records of transactions in an accounting journal.…

Q: Boxes-and-Stuff, a box-packing and mailing company in a small town along the Gulf Coast, lost a key…

A: Accounting financial statements provide a snapshot of a company's operations, financial status, and…

Q: You are an assistant in the accounting department of Hasher Electronics, a small…

A: Given: Hasher has a loan that requires the company to maintain a minimum cash balance of$125,000, as…

Q: A former chairman, CFO, and controller of Donnkenny, Inc., an appeal company that makes sportswear…

A:

Q: You are working as a summer intern at a rapidly growing organic food distributor. Part of your…

A: Purchase discounts: The sellers offer a reduction in purchase price on initial purchases, to…

Q: For the past 11 years, Elaine Wright has been an employee of the Star-Bright Electrical Supply…

A: Controls It refers to the measures adopted by an enterprise to provide reasonable assurance that the…

Q: Margaret is the manager of a medium-size company. A few years ago, Margaret persuaded the owner to…

A: The doubtful debt is considered as an expense and dedi=ucted from the revenues in order to calculate…

Q: An employee, Fred, working in the accounts office of a medium-sized company listed on the Nairobi…

A: GIVEN   An employee, Fred, working in the accounts office of a medium-sized company listed on the…

Q: ccount set up by the for

A: 1. Risk in the workplace is a broad term. It refers to any event or scenario that could hinder  and…

Q: Record the entry to write off account determined to be uncollectible for Bedford Toy Outlets in the…

A: The journal entry are as follows

Q: Barbara was a regular shopper at Egeeay Supermarket, which was part of a large nationwide…

A:

Q: Barbara was a regular shopper at Egeeay Supermarket, which was part of a large nationwide…

A: The store has duty of care for ensuring safety and well being of everyone visiting the store, under…

Q: sequently, the partners of the firm became dissatisfied with Small’s production and warned him that…

A: The public accounting firm of Hanson and Brown was expanding very rapidly. Consequently, it hired…

Q: Margaret is the manager of a medium-sized company. A few years ago, Margaret persuaded the owner to…

A: Note: Most businesses count revenue when a sale is made, not when a payment is received.So, doubtful…

Q: cant amount of inventory shrinkage was discovered. The amount is so large that it will result in a…

A: The term "code of conduct and ethics" refers to the broad principles or set of norms established by…

Q: Catherine Romanov was a loan officer who needed one last loan to make her quota for the month.…

A: Following is the answer to the given question

Q: You are the manager of accounting for a company that sells computer software packages. You have just…

A: A memo to communicate this information to all employees is as follows:

Q: As the manager of the accounts receivable department for Beavis Leather Goods, Ltd., you recently…

A: The ending balance of accounts receivable should be equal to the credit sales made during the year…

Q: You are in charge of the checking account for a small business. One morning, your accounting…

A: Given: The charge of checking of an accounts of a small business.

Q: recha Hogan is president of Hogan Company, a manufacturer of toys for children. For the past 10…

A: An organization assumes a certain percentage of its total accounts receivable as bad debts and…

Q: Electronics, Inc. is a high-volume, wholesale merchandising company. Most of its inventory turns…

A: The principle of conservatism is recognised globally in almost all countries for the purposes of…

Q: Barbara was a regular shopper at Egeeay Supermarket, which was part of a large nationwide…

A: a) Yes, Egeeay Supermarket owes a duty of care to Barbara. The Supermarket legally owes duty towards…

Q: "Dennis Jones, an old college friend, contacted you last week. Dennis owns several car washes, and…

A: Fraud is an intentional wrongful or criminal act by a person for his/her personal gain.

Q: Henri is the owner of the “Chez Henri” Restaurant. It is not a large restaurant (78 seats). For this…

A: Internal control: Internal control is a process which ensures continuous reliability of…

Q: Dylan worked for a propane gas distributor as an accounting clerk in a small Midwestern town. Last…

A: 1.Identify the missing internal control characteristics in each situation.In this case, the fraud…

Q: You are working as a summer intern at a rapidly growing orgainc food distribution. Part of your…

A: Every company's motive will be to increase the profitability of the company. The profitability of…

Q: What should Margie do in this situation? Why?

A: Mar should take note to the next level of management when still her manager disagrees to report the…

Q: Margaret is the manager of a medium-size company. A few years ago, Margaret persuaded the owner to…

A: The controls that are being implemented in an entity to ensure that there is existence of…

Q: Fred, a 17-year employee with Sam's Sauna, was fired for poor job performance and poor attendance,…

A: 1. As an employee of the company it is Fred's duty to ensure that he is adhere to the company's…

Q: Peter Pan is a young accountant who came from a poor family. He was recently hired by a big company…

A: Manipulation of figures means to either overstate or understate the actual figure in to hide the…

Q: Every March, Buddie, who owns and operates a small retail shop, takes a large box of receipts and…

A: An accountant is the one who maintains and keeps a check on the financial records of the company. An…

Q: bts being written off on the individual customer account but not included in the nominal ledger. You…

A: Ethics:

Q: Alexia Jones is a worker at a local 24-hour pharmacy. Alexia works the night shift and is the only…

A: In case of a company, the risk for fraud means the chance of committing willful attempt to defraud…

Q: State whether you agree or disagree with Jimmy’s method of handling each situ-ation and explain your…

A: Internal Control:   Internal control is a process which ensures continuous reliability of…

Q: Dylan worked for a propane gas distributor as an accounting clerk in a small Midwestern town. Last…

A: 1. Identify the missing internal control characteristics in each situation. In this case, the fraud…

Q: vonne Pillar is a young accountant who came from a poor family. She was recently hired by a big…

A: Business ethics seems to be the discipline of determining what is correct, incorrect, and acceptable…

Q: A friend, Wazir, has asked you for advice because he understands very little about accounting…

A: The question is related to Ratio Analysis. The Gross Profit and Net Profit are Profitability Ratio…

Q: A payday loan company has decided to open several new locations in a city and hires consultants to…

A: Since the compensation is based on profit, it is riskier and the payment overall would be more to…

Q: Brecha Hogan is president of Hogan Company, a manufacturer of toys for children. For the past 10…

A:

Q: Brecha Hogan is president of Hogan Company, a manufacturer of toys for children. For the past 10…

A: In the course of carrying out its transactions, businesses often face bad debts. These are the…

Q: Lance Berkman is the controller of Saturn, a dance club whose year-end is December 31. Berkman…

A: 1:   Identify the financial ratios that would be most affected by the action of Lance.   Lance is…

Q: Denis Frederick owns Never Leak, Inc., which is a small plumbing supply company that employs 16…

A: 1. In the provided scenario, the risk inherent is the risk of fraud by the employees. The reason…

Q: A retail store normally has three people working in the evening. All of the employees haveaccess to…

A: Internal control: Internal control is a set of controls that ensure the smooth and effective…