Instructions: Please read the ethics case study listed below. Consider the issues addressed using the chapter information and the Ethical Standards for CPAs found at the end of your textbook. Once you have come to a conclusion as to how the company should answer the questions pondered, please post them on the discussion board found in that chapter lessons section. Afterwards, you must answer two of your classmates postings as to whether you agree or not and why. Read Ethical Issue 1-1 on page 54 of your textbook.

Raffie's Kids, a non profit organization tht provides aid to victoms of domestic violence, low-income families and special needs children, has a 30-year, 5% mortgage on the existing building. The mortgage requires monthly payments of $3000. Raffie's bookkeeper is preparing financial statements for the board, and in doing so, list the mortgage balance of 287,00 under current liabilities because the board hopes to be able to pay the mortgage off in full next year. Of the mortgage principal, $20,000 will be paid next year if Raffie's pays according to the mortgage agreement. The board members call you, their trusted CPA, to advise them on how Raffie's Kids should report the mortgage on its balance sheet. What is the ethical issue? Provide your recommendation and discuss the reason for your recommendation.