Accounting Question?

Question

Business Ethnic Lesson?

At the end of the current month, Tomas Lott prepared a trial balance for AAA Rescue Service. The credit side of the trial balance exceeds the debit side by a significant amount. Tomas has decided to add the difference to the balance of the miscellaneous expense account in order to complete the preparation of the current month's financial statements by a 5 o'clock deadline. Tomas will look for the difference next week when he has more time.

Discuss whether Tomas is behaving in a professional manner.

Answer 1

Do you think that the Sarbanes-Oxley Act is really necessary?

Answer 2

Business Ethnic Lesson?

At the end of the current month, Tomas Lott prepared a trial balance for AAA Rescue Service. The credit side of the trial balance exceeds the debit side by a significant amount. Tomas has decided to add the difference to the balance of the miscellaneous expense account in order to complete the preparation of the current month's financial statements
by a 5 o'clock deadline. Tomas will look for the difference next week when he has more time.

Discuss whether Tomas is behaving in a professional manner.