Josie, an accounting supervisor in monk & sons realty, instructs maria, her employee, to make certain accounting entries in the company's books that will increase revenue. maria researches the matter, confirming her concern that these entries would overstate revenue, and informs josie that recognizing revenue in this manner would be premature and not consistent with generally accepted accounting principles (gaap) but josie disagrees and insists that maria record the entries. the amount of revenue is material to monk's financial statements. according to the aicpa rules, what should maria do first?

Question

Francis Moyer

Business

12 July, 05:58

Josie, an accounting supervisor in monk & sons realty, instructs maria, her employee, to make certain accounting entries in the company's books that will increase revenue. maria researches the matter, confirming her concern that these entries would overstate revenue, and informs josie that recognizing revenue in this manner would be premature and not consistent with generally accepted accounting principles (gaap) but josie disagrees and insists that maria record the entries. the amount of revenue is material to monk's financial statements. according to the aicpa rules, what should maria do first?

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Shaun Woodward · Answer 1

According to the AICPA rules, what should Maria should "discuss her concerns with Josie's boss."

The code of professional conduct (AICPA) in its distinctive articles obliges Maria to work with uprightness, obligation, objectivity and autonomy, the content underscores crafted by the bookkeeper and the arrangement of a support of people in general that must be straightforward to produce trust in the public eye, thus, paying little respect to what the manager says, and upheld by Article 55 - Chapter IV - which states: Objectivity and independence: A member should keep up objectivity and be free of irreconcilable situations in the execution of their obligations. proficient duties. A member out in the open practice must be autonomous, truth be told, and appearance, in the arrangement of review administrations and different confirmations.