Ethics Case Study Wireless Video Company

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perhaps find myself unemployed for a long time. With my absence from the company, the president may decide to misstate this year’s financial or ask someone else to. Therefore the company once again may be charged. In which those involved could face potential fines or jail time. Also from the lack of my presence the Wireless Video Company’s product sales may decrease for products like the wireless game controllers.

By conducting the third option/alternative which is to refuse the president’s request of adjusting this year’s financial statements and report the president to higher level of authority, I would again face many disadvantages. I could find myself fired, demoted or my salary being demoted by the Wireless Video Company. If this occurs then I could leak out the news to public about what the president informed me to do. Once again this could make it difficult for me to secure employment within the future. From my absenteeism the president may consider other options for correcting last year’s misstatement. However, courses of action through this option would be legal and in accordance with GAAP. The possibility of the company’s product sales declining is still evident in this option. Sales for like the wireless game controllers would decrease.

Step #5: Decision/Recommendation

The decision that I would recommend to myself is to refuse the president’s request of altering this year’s financial statements and report him to a higher level of authority. I based my recommendation on basis of the other two options, which were to either to agree with the president’s request of adjusting this year’s financial statements or to resign my position as the controller and avoid the entire situation. This decision seems to be the most ethical since it involves informing the public of the unprincipled directions that the president advised. In all three options the consequences of product sales decreasing would be evident throughout. By refusing the president’s request and reporting him to a higher level of authority, the criteria would be legal and in accordance with the Revenue Recognition and Matching Principle under GAAP. Whereas if I listened to the president’s request of adjusting this year’s financial statements the accounting procedures would not be followed and GAAP rules would be violated. Although there is still the possibility of me being employed in all 3 options, if I end up getting fired due to my actions from this option, I could also seek employment within a different country, if the news did not go global. However, I could potentially not make as much money as I did beforehand as a controller. Moreover, through choosing this option I would ensure that I do not have any charges of fines or jail time.I could have faced charges if I listened to the president’s request or avoided the situation. Lastly, I would have a good conscience knowing that I did the right thing and did not commit any illegal actions. While if I avoided the entire situation I would not. For these following reasons this option seems to be best fit for me in this situation. Conclusion This 5 step ethics case analysis applied all the steps in analyzing the ethical case, Wireless Video Company. Based on this analysis the president, Mario Wii was advising unethical instructions to me, the controller. Any companies that operate in society should always attempt to make ethical decisions no matter the circumstances.