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NURSAFIRAH BT JUMEL
FAZELIN BT ISMAIL 216368
214491
Task leader - Nur Alia Atiqah Binti Mohd Yasin Recorder - Najwa Binti Basaruddin
Abdul Latif Ishak as the CEO of the company want Azlan Saad, the accountant to manipulate the report because the company is in the process of applying a 1 million loan from BCD Bank for upcoming project. The current report does not show the profitable report, so the CEO want the accountant do some adjustment to produce a good Financial Statement to be submitted to the BCD Bank.
FARID AZHAR
CONSULTANT:
REPORT
PAYMENT:
Abdul Latif Ishak Corporation. Statement Of Comprehensive Income For the year ended December 2011
Sales Cost of goods sold Depreciation Taxes Net Income 47,600 38,300 3,900 800 RM4,600
2. Method for valuation of inventory are changed The comparison of the cost of goods sold amount between these three method; METHOD COST OF GOOD SOLD
Specific Identification First in First Out Weighted Average 1700 1628 1670
NOT SO GOOD!!!!
For example, in 2000, Azlan reported it has over $4 billion in cash flow from operation the real figure was over $ 1.5 billion less than the real amount
Ethics on this behavior
NOT SO GOOD!!!!
NOT SO GOOD!!!!
NOT SO GOOD!!!!
can manipulate- all the manipulation must follow standard contains in financial Reporting Standards and GAAP learned about ethics fight unethical behavior