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Running head: ACCOUNTING ETHICS1Accounting EthicsNames:Institution:ACCOUNTING ETHICS2Accounting ethicsEthics of practice is one of the most important areas to consider in the field ofaccounting and financial reporting. However, various issues, problems, and dilemmas emergefrom time to time as organizations strive to adjust their accounting and reporting approachesin order to ensure that that, while these organizations comply with the set accountingguidelines and principles, they also safeguard their future. The following section answersquestions presented in the Linbarger Company case study where the organization is on theverge of defaulting a loan agreement due to set minimum balance although the financial vicepresident presents a potential way out by derailing the reporting.Accounting problemsThere are a number of accounting problems that emerge in the given case study. Oneof these is the financial reporting. Notably, organizations are presently required to conductingtheir accounting in relation to the guidelines of the generally accepted accounting principles(GAAP) that are often strict on the reporting approach that an organization adopts (Adkins,2017). Unfortunately, based on the scenario presented by the financial vice president, it maynot be clear whether or not to record the check as an outstanding check or accounts receivableas it is not clear whether or not Oconto Distributors has recorded the same and its clearancestatus. In fact, the ...


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