Accuracy In Financial Reporting

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***500 words***

A sale is a sale, and a profit is a profit, right? Not always. While an organization’s financial statements should fully and transparently reflect the organization’s actual financial situation, sometimes they do not. Sometimes there is intentional deception or fraud. Yet, even when an organization uses legal and accepted accounting practices, financial statements may fail to present risks or explain unusual costs, profits, or assumptions.

To prepare for this Discussion, think about a time in your professional experience when a decision was made based on inaccurate financial information or unethical behavior resulting in fraudulent financial information. If you do not have professional experience directly related to accounting and decision making, research a situation where inaccurate or fraudulent financial information was provided by a company. Consider the outcomes of utilizing fraudulent financial information for decision making and research how to avoid such situations.
By Day 3
Post the following:
Describe the situation from either your professional experience or your research. Explain the steps you would take to address unethical behavior and remedy the situation of utilizing the inaccurate or fraudulent financial information you described and why you would take these steps. Explain the steps that you, as a manager, might take to ensure that all financial information you review accurately reflects the organization’s true financial situation and why this is important to prevent unethical behavior and the use of inaccurate or fraudulent financial information.
General Guidance: Your initial Discussion post, due by Day 3, will typically be 2–3 paragraphs in length as a general expectation/estimate. Refer to the rubric for the Week 1 Discussion for grading elements and criteria. Your Instructor will use the rubric to assess your work.Shared Practice: Financial vs. Managerial Accounting: nursing assignment help
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Financial accounting and managerial accounting are different. Namely, financial accounting refers to reports that are prepared for review by individuals outside the organization, like investors and creditors. Managerial accounting refers to reports that are generated for internal use by organizational decision makers.

To prepare for this Discussion, “Shared Practice: Financial vs. Managerial Accounting,” take a moment to think about the implications of these two kinds of accounting.
By Day 7
Post the following:
Describe one or two examples of decisions that could be made using the information provided by financial accounting. Provide specific examples and explain how decisions are improved when the information is used accurately. Then, explain the risks of not having the information when making such decisions. Your examples should be real world, specific situations from your experience, observations, and research. Describe one or two examples of decisions that could be made using the information provided by managerial accounting. Provide specific examples and explain how decisions are improved when the information is used accurately. Then, explain the risks of not having the information when making such decisions. Your examples should be real world, specific situations from your experience, observations, and research.
Before making your post, review the examples provided by your colleagues and your Instructor and write about decisions that have not yet been mentioned.1-1 Discussion: Role of Technology in Business
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You will read the closing case “IBM’s Watson”. After reading the case study and completing additional independent research, address the following:
What is the role of technology in business? Provide an example (or examples) of a technology from the glossary being used in business.
Must be one to two paragraphs.

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