Discussion Post – Financial and Managerial Accounting (Week 1 – DQ & Peer Response)

May 5, 2023May 5, 2023 Discipline: Accounting
This order has 2 STEPS: 
  • 1 essay of 185 words using the references below 
  • 2 peer responses of 50 words  EACH + 1 reference EACH (minimum) 
FIRST STEP: Discussion Question

Tana Thorne works in a public accounting firm and hopes to eventually be a partner. The management of Allnet Company invites Thorne to prepare a bid to audit Allnet’s financial statements. In discussing the audit fee, Allnet’s management suggests a fee range in which the amount depends on the reported profit of Allnet. The higher its profit, the higher will be the audit fee paid to Thorne’s firm.


  • Who are the parties potentially affected by this audit and the fee plan proposed?

  • What are the ethical factors in this situation? Explain.

  • Would you recommend that Thorne accept this audit fee arrangement? Why or why not?

  • What are some ethical considerations guiding your recommendation?


ATTENTION: To answer these questions, you MUST:

  • Read the textbook: Financial and Managerial Accounting: Information for Decisions ***

    • Chapter 1: Accounting in Business

    • Chapter 2: Accounting for Business Transaction



SECOND STEP: After you finish the paper, I will attach 2 essays from other students here, and you will write 2 peer responses (50 words EACH and 1 reference EACH – minimum). 
Also, they must substantively engage with the other student’s original post, continuing the discussion professionally. 
*** Important: Answer directly to each student, mentioning their name and discussing what was written. ***
I attached: 
  • One example of what I’m expecting for the peer response
*** IMPORTANT: I DON’T HAVE A PDF OF THE TEXTBOOK. YOU MUST ACCESS IT IN THE LINK:
https://alibris.vitalsource.com/reader/books/9781260417210/epubcfi/6/22[%3Bvnd.vst.idref%3Dcontents]!/4 
 Password: Gojhof-kyqcaw-9xohga

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