Holmes Corporation articles cyberbanking apparatus for use in abounding customer products. Their raw abstracts are purchased absolutely from all over the world. Depending on the country involved, acquirement agreement alter widely. Some suppliers, for example, crave abounding prepayment, while others are agreeable to accept acquittal aural six months of cancellation of the goods. Because of this situation, Holmes never closes its books until at atomic ten canicule afterwards ages end. In this way, it can array out buying of appurtenances in transit, and certificate which appurtenances were accustomed by ages end, and which were not. Manya Andre, a new accountant, was asked to almanac about $70,000 in account as accepting been accustomed afore ages end. She argued that the aircraft abstracts acutely showed that the appurtenances were absolutely accustomed on the 8th of the accepted month. Her boss, active with month-end reports, curtly tells Ann to analysis the aircraft terms. She did so, and begin the characters "FOB shipper's dock" on the document. She hadn't apparent that accurate characters before, but she articular that if the affairs aggregation advised it alien back it accomplished their dock, Holmes should accede it accustomed back it accomplished Holmes's dock. She did not almanac the acquirement until afterwards ages end. To accept abounding credit, acknowledgment both:
Why are accountants anxious with the timing in the recording of purchases?
Was there a abuse of ethical standards here? Explain.
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