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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.

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Financial Accounting

14th Edition
Carl Warren + 2 others
Publisher: Cengage Learning
ISBN: 9781305088436

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BuyFindarrow_forward

Financial Accounting

14th Edition
Carl Warren + 2 others
Publisher: Cengage Learning
ISBN: 9781305088436
Chapter 10, Problem 1CP
Textbook Problem
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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.

Chapter 10, Problem 1CP, Dave Elliott, CPA, is an assistant to the controller of Lyric Consulting Co. In his spare time, Dave Discuss whether Dave is performing in a professional manner.

To determine

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

Explanation of Solution

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.

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...

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Chapter 10 Solutions

Financial Accounting
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