Unit 9 Accounting I Assignment
Ethics Writing Assignment
Ethics play a vital role in business and in the accounting profession. Here is an opportunity to connect your current learning about inventory with the profession’s commitment to ethics.
EC5: Tiffany Lyons was just hired as the assistant treasurer of Key West Stores, a specialty chain store with nine retail stores concentrated in one metropolitan area. Among other things, the payment of all invoices is centralized in one of the departments Tiffany will manage. Her primary responsibility is to maintain the company’s high credit rating by paying all bills when due and to take advantage of all cash discounts.
Jay Barnes, the former assistant treasurer who has been promoted to treasurer, is training Tiffany in her new duties. He instructs Tiffany that she is to continue the practice of preparing all checks “net of discount” and dating the checks for the last day of the discount period. “But,” Jay continues, “we always hold the checks at least 4 days beyond the discount period before mailing them. That way, we get another four days of interest on our money. Most of our creditors need our business and don’t complain. And, if they scream about missing the discount period, we blame it on the mailroom or the post office. We’ve only lost one discount out of every hundred we take that way. I think everybody does it. By the way, welcome to our team!”
Weygandt, J. J., Kimmel, P. D., & Kieso, D. E. (2021). Accounting principles (14th ed.). Hoboken, NJ: Wiley.
150-200 words
Unit 9 Accounting I Learning activity
Practice What You Have Learned: It is strongly recommended that you complete these Learning Activities. After completing the Reading, test your knowledge of the concepts covered in this unit.
Your Learning Activity is to be completed in WileyPLUS®. You access the homework platform through the WileyPLUS link in your Learning Activity section. Click on the “Lab Learning Activity” link to access your WileyPLUS platform.
150-200 words
Last Completed Projects
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