looking for help on accounting discussion post

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?

 

 

Solution Preview

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.

(336 words)

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