Good morning, I wish to focus on Accounting Estimates and the need to review them for bias.
I participated in a few rounds of discussion with a client recently on the basis of estimates done for various balance sheet items.
On occassions, you could be in a position where you could be pressured to accept the basis amd thus values of estimates and pass the necessary entries to reflect them on the balance sheet.
How would resolve the situation without losing your job?
Hi,Maintain professional integrity and ethical values and lose the job.Stand firm. We are in the business of professionalism and not in the business of Char Kuey Teow, ie more chilli, less bean sprouts?!? HaHaHa
Hi Ann,So well said.
Hi Edgar,Thanks. Have a nice evening.
back to the most basic accountant in business lesson….obey the law!you may in many occassions “overturn” a bit here and there, but do not ever break the law.If you’re in this kind of fix situation….as a professional accoutant you should be able to show your expertism.