Accounting

Your company has just adopted a just in time philosophy, allowing it to combine all parts of an order and it is sold as soon as it is completed.You  notice two of the plants estimate their ending work in progress inventories at 80%.This allows the plant managers to meet their profit goals and receive a bonus.The managers feel calculating the percent complete takes judgement and they will finish the work in progress inventory first thing next year.

evaluate the managers reasoning and explain the effects this could have on the current and future years financial statements.include any ethical issues created by the managers.identify the options your company has and what consequences does this create for the company.

 
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