Question:
Lovie Smith, president of Smith Company, has instructed Michelle Martz, the head of the accounting department for Smith Company, to report the company's land in the company's accounting reports at its fair value of $170,000 instead of its cost of $100,000. Smith says, Showing the land at $170,000 will make our company look like a better investment when we try to attract new investors next month?
Instructions
Explain the ethical situation involved for Michelle Martz, identifying the stakeholders and the alternatives.