looking for help on accounting discussion post
Nicole Martins is the controller at UMC Corp., a publicly-traded manufacturing company. Last year, UMC had annual sales revenue of $15 million. The first quarter of this year just ended, and Nicole needs to prepare a trial balance so she can prepare the quarterly financial statements. However, trial balance is out of balance by $750 (credits exceed debits).
Nicole is running out of time as the report is due today! Therefore, she decides to balance by plugging the $750 into the Equipment account. She chose the Equipment account because it has the largest account balance. Therefore, with the $750 added, it will be the least-misstated account.
Identify the stakeholders in the case.
Explain the ethical issues the case involves.
If you were Nicole, what would you do?
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Accounting Discussion Post
According to the definition of stakeholders, any organization, group, or individual who shows some concern or interest towards a company. Thus, the main stakeholders in this instance are all the players in the company, investors in the organization, the management, the employees, and the government.
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