is a company that manufactures computer chips and cellular phones.
As the assistant chief accountant at Martin Company, AggiePride
Nationwide was in charge of preparing a trial balance so that the
financial statements could be prepared and released to management
and regulatory agencies. With the deadline, 4 p.m., slowly
approaching Agg-ie was om a rush to do her task. During his
completion of the trial balance, Agg-ie noticed that the total
credits exceeded debits by $1,000. Agg-ie decided to add the
difference to Equipment because of the large account balance.
(a) The stakeholders in this situation are Martin Company and AggiePride Nationwide, the assistant chief accountant, and other employees that work at the company. Agg-ie is a primary stakeholder and Martin Company and the other employees would be the secondary stakeholders. Agg-ie is a stakeholder because she is taking the risk of altering the numbers to ensure that the debits and credits on the trial balance are equal. Martin Company is also a stakeholder because their company could be negatively affected from the number altering by their employee. Other employees at the company could also be stakeholders. If this minor alteration would cause the company to fail, then these employees would be show more content
She falsified information regarding the Equipment account, which was dishonest. Agg-ie did not practice integrity also she did not practice due diligence, nor did she show strong moral principles by taking the right steps in order to complete the trial balance in a timely and appropriate way. She assumed that the change would not be noticed because of the small percentage the $1,000 made up of the total in equipment. Furthermore, pressure from managementand the deadline were major causes of this error but there were still other ways to handle this
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