BAF Corporation is a pesticide manufacturing company. The company sales declined greatly this year due to the recent legislation outlawing the sale of several BAF's chemical pesticides in North America. During the coming year $2024,$ the company will replace these discontinued products with environmentally safe and competitive chemicals. The company's management expect sales of these new products will exceed those of any prior year. Therefore, the management anticipates that the decline in this year's $(2023)$ sales and profits may be a one$-$off incident.$$

Several financial analysts have been closely following the company with some trepidations while one analyst $($Thomas Trum$)$ seems optimistic of BAF's performance. Thomas performs dual roles, both as an analyst and investment banker$/$advisor to BAF. Sources have indicated that Thomas sat in most closed$-$door senior management meetings at BAF.

Prior to the recent quarterly earnings announcement, BAF's share price has falling by $8\%$ over the last year and is currently trading at $$128\mathrm{.}60.$ The general sentiment has forecast earnings of $$1\mathrm{.}45$ per share.$$

Given the current market condition, Charles Weet $($President of BAF$)$ advises the Controller $($Harry Dudd$)$ to accrue all possible revenue and to defer all possible expenses in the $2023$ year$-$end adjustments.$$According to Charles, the company needs as much revenue as possible for $2023$ and $2024$ so that it can easily absorb all expenses deferred from $2023.$ This will also avoid the stock price being hammered down. Harry did not record the adjustments until Jan $20,2024,$ but still dated them as December $31,2023$ as if they were recorded then. Harry made every effort to satisfy Charles' request.

REQUIREMENTS:$$

$1.$ POST your answers to EACH QUESTION.

$2.$ RESPOND to FOUR $(4)$ of your classmate$$s postings.

$3.$ Given that this is a $3000-$level course, all postings$/$responses MUST BE in complete sentences. You will receive $0$ mark if this requirement is not met.