ACG2021 MDC Annual financial statements case

Anonymous
timer Asked: Feb 4th, 2019
account_balance_wallet $10

Question Description

On January 20, 2017, Tamira Nelson, the accountant for Picton Enterprises, is feeling pressure to complete the annual financial statements. The company president has said he needs up-to-date financial statements to share with the bank on January 21 at a dinner meeting that has been called to discuss Picton’s obtaining loan financing for a special building project. Tamira knows that she will not be able to gather all the needed information in the next 24 hours to prepare the entire set of adjusting entries. Those entries must be posted before the financial statements accurately portray the company’s performance and financial position for the fiscal period ended December 31, 2016. Tamira ultimately decides to estimate several expense accruals at the last minute. When deciding on estimates for the expenses, she uses low estimates because she does not want to make the financial statements look worse than they are. Tamira finishes the financial statements before the deadline and gives them to the president without mentioning that several account balances are estimates that she provided.

Tutor Answer

fareeha27
School: Duke University

Hello, Please find the attached paper. Please let me know if you have any question.Thanks

Case Scenario

On January 20, 2017, Tamira Nelson, the accountant for Picton Enterprises, is feeling
pressure to complete the annual financial statements. The company president has said he
needs up-to-date financial statements to share with the bank on January 21 at a dinner
meeting that has been called to discuss Picton’s obtaining loan financing for a special
building project. Tamira knows that she will not be able to gather all the needed
information in the next 24 hours to prepare the entire set of adjusting entries. Those entries
must be posted before the financial statements accurately portray the company’s
performance and financial position for the fiscal period ended December 31, 2016. Tam...

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Review

Anonymous
Tutor went the extra mile to help me with this essay. Citations were a bit shaky but I appreciated how well he handled APA styles and how ok he was to change them even though I didnt specify. Got a B+ which is believable and acceptable.

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