Maurice Tutor

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About Maurice Tutor

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Expertise:
Algebra,Applied Sciences See all
Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
Last Sign in: 401 Weeks Ago, 2 Days Ago
Questions Answered: 66690
Tutorials Posted: 66688

Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 05 Aug 2017 My Price 11.00

financial aid

Some people are tempted to make their fi nances look worse to get fi nancial aid. Companies sometimes also manage their fi nancial numbers in order to accomplish certain goals. Earnings management is the planned timing of revenues, expenses, gains, and losses to smooth out bumps in net income. In managing earnings, companies’ actions vary from being within the range of ethical activity, to being both unethical and illegal attempts to mislead investors and creditors.

Instructions

Provide responses for each of the following questions.

(a) Discuss whether you think each of the following actions (adapted from www.fi naid.org/fafsa/ maximize.phtml) to increase the chances of receiving fi nancial aid is ethical.

(i) Spend down the student’s assets and income fi rst, before spending parents’ assets and income.

(ii) Accelerate necessary expenses to reduce available cash. For example, if you need a new car, buy it before applying for fi nancial aid.

(iii) State that a truly fi nancially dependent child is independent.

(iv) Have a parent take an unpaid leave of absence for long enough to get below the “threshold” level of income.

(b) What are some reasons why a company might want to overstate its earnings?

(c) What are some reasons why a company might want to understate its earnings?

(d) Under what circumstances might an otherwise ethical person decide to illegally overstate or understate earnings?

Answers

Maurice Tutor
(5)
Status NEW Posted 05 Aug 2017 04:08 PM My Price 11.00

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