Authoritative Literature

Complete the following for a discussion Board.

The purpose of this assignment is to discuss and critically analyze the accounting- and finance-related aspects of the business situations that directly relate to the frameworks, theories, concepts, and topics covered in the unit. Use the material covered in your textbook readings, instructional material, and other course material to evaluate the information provided and thoroughly answer the questions in the DB Post.

Decision Case 5.9

Selection of an Inventory Method

As controller of a widely held public company, you are concerned with making the best decisions for the stockholders. At the end of its first year of operations, you are faced with the choice of method to value inventory. Specific identification is out of the question because the company sells a large quantity of diversified products. You are trying to decide between FIFO and LIFO. Inventory costs have increased 33% over the year, and therefore, you think LIFO will most accurately match these most recent costs with the revenues of the period. The chief executive officer has instructed you to do whatever it takes in all areas to report the highest income possible.

Required

Use the Ethical Decision Framework in Exhibit 1-9 to complete the following requirements:

• Recognize an ethical dilemma: What ethical dilemma(s) do you face?
• Analyze the key elements in the situation:
  • Who may benefit if you follow the chief executive officer’s instructions? Who may be harmed?
  • How are they likely to benefit or be harmed?
  • What rights or claims may be violated?
  • What specific interests are in conflict?
  • What are your responsibilities and obligations?
• List alternatives and evaluate the impact of each on those affected: As controller, what are your options in dealing with the ethical dilemma(s) you identified in (1) above?
• Select the best alternative: Among the alternatives, which one would you select?

Notes about the requirements of the discussion board post:

Posts

For the Post, thoroughly answer each question at the end of the case. Please use the following expectations, requirements, and guidelines to prepare your Post for each DB Unit:

1. Summary: Present a short summary of the case. This is typically a few sentences or a paragraph. Summaries should not be more than one page and should not be a significant part of your word count.
2. Format & Analysis: Thoroughly answer the questions one at a time. Begin your answer by copying the question in bold. Do not copy the entire case, just copy the questions.
   1. The question-and-answer format will not be in APA format
   2. Use APA format for your writing style and writing conventions as well as the references list and the in-text citations to the references.
   3. The cases are of varying lengths even though there is a minimum word count requirement in the rubric. This is a general guide as your discussion has to be as long as it needs to be to present a paper that is thorough, well thought out, and demonstrates a graduate-level depth of critical thinking and analysis. The majority of the cases will require 3 to 5 pages, double-spaced, 12-point font, to receive a passing grade. (The questions and references page are not a part of the word count.)
3. References: Include a minimum of three (3) appropriate academic references. The same reference may be cited more than once but will only count as one reference. The references should be listed at the end of the paper, in the references section as per APA standards. The minimum references for each Post include
   1. 1 – Porter & Norton textbook
   2. 1 – Berman & Knight textbook
   3. 1 – Peer-reviewed academic business or accounting journal article published within seven (7) years of the course start date
      1. Any books, textbooks, court cases, or authoritative literature you reference should be in addition to the 1 required article (peer-reviewed academic business or accounting journal articles).
4. Length: Make sure you meet the minimum word count for the Post. The cover page, summary, questions, and references page are not a part of the word count.