Class Discussion - Chapter 2

School: Phoenix College - Course: COM 100 - Subject: Accounting

This is a graded discussion:10 points possible due Apr 11, 2021 Class Discussion - Chapter 220 Here we will discuss a topic for each chapter. Chapter 2 topic: You are a CPA and have been asked to volunteer a few hours of your time to review the accounting records and procedures of a small nonprofit, charitable organization with an annual budget just under $5 million. During your review, you are surprised to find accounting records indicating that the CFO initiated and approved three non-payroll checks totaling $10,500 made out to one of the organization's employees. During the course of a private conversation with the CFO, you learn that she "loaned" the money to an employee with 15 years of service whose teenage son is fighting heroin addiction. The nonprofit's insurance does not provide any benefits to cover the cost of addiction treatment. The employee has promised to pay the money back over time after he gets back on his feet financially. What do you do? Do you include this finding in your audit report?What would you do? To receive all 10 points for this assignment you must: 1. Provide a response to the question (or questions) with 50 or more words. 2. Provide a response to another student using 50 or more words. Ground Rules for Online Discussions 1) Participate:Students must contribute to the conversations. A shared learning environment is only effective if everyone involved actually shares. For each chapter you are required to contribute in two ways, both an original response to the question as well as a response to another student. Each contribution must be at least 50 words in length. Providing insightful commentary in the online discussions is a requirement for passing this course. 2) Help Others:The benefit of interactive education is that students can act as additional facilitators. I encourage students to be helpful to each other and not be shy to provide instruction whether it be with technology or the content of the course. 3) Use Proper Writing Style:This is a requirement! A virtual classroom is a professional environment. Write as if you were drafting a term paper; correct spelling, grammar, and style are expected in all academic writing. This topic was locked May 23, 2021 at 11:59pm. Search entries or author4) Respect Diversity:Your virtual classroom—and academia as a whole—should be, without question, a safe space for people of all races, genders, sexes, ages, sexual orientations, religions, disabilities and socioeconomic statuses. Derogatory and sarcastic comments and jokes that marginalize anyone are fundamentally unacceptable, especially in the classroom. Offensive language—or language that could be construed as offensive—should be avoided and defused. In the unfortunate event that this becomes an issue, please let your instructor know as soon as possible. 5) No Rants:The academic environment expects higher-order language. We do not tolerate tantrums on academic forums. Criticism, although a central part of academia, must be constructive, well-meaning, and well-articulated. Rants directed at any contributor are highly unacceptable. In addition, please do avoid profanity. Keep it classy, people.