Question: This week's discussion is centered on the case scenario presented in the EC 17 Ethics Case. Since cash is the most important asset in a

This week's discussion is centered on the case scenario presented in the EC 17 Ethics Case.

Since cash is the most important asset in a firm, the success of a firm can be directly traced to its cash management. Though reliance on cash flows to the exclusion of accrual accounting is discouraged, comparing cash from operations to net income can reveal important information about the "quality" of reported net income.

Please review the EC 17 Ethics Case scenario on pages 17-57 in your text and answer the following questions.

Who are the stakeholders in this situation?
Was there anything unethical about the president's actions? Was there anything unethical about the controller's actions? Explain.

Are the board members or anyone else likely to discover the misclassification? Explain.

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