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Accounting

27th Edition
WARREN + 5 others
ISBN: 9781337272094

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BuyFindarrow_forward

Accounting

27th Edition
WARREN + 5 others
ISBN: 9781337272094
Textbook Problem

Ethics in Action

Dave Elliott, CPA, is an assistant to the controller of Lyric Consulting Co. In his spare time, Dave also prepares tax returns and performs general accounting services for clients. Frequently, Dave performs these services after his normal working hours, using Lyric Consulting Co.’s computers and laser printers. Occasionally, Dave’s clients will call him at the office during regular working hours.

Discuss whether Dave is performing in a professional manner.

To determine

Ethics Case

Mr. D, a CPA is working as an assistant in L Consulting Company. He used to prepare tax returns and provide general accounting services to his clients during his idle time. Most often, he performs these services after his normal working hours, however using the company’s computers and laser printers. Occasionally, he gets call from his clients at office during his normal working hours.

To Discuss: whether Mr. D is performing in a professional manner.

Explanation

Mr. D is not performing in a professional manner. This is because, using of company’s assets for personal interests or benefits is considered as unprofessional. Such use of company’s assets would reduce the useful life of the assets estimated for normal business operations.

Even though Mr...

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