The year end accounts for a local government authority have been prepared, and they will soon be adopted by the council, ready for audit. You are the head of social services finance, and you have become aware that some work has been performed by a consultant which has resulted in a proposal to close an elderly persons’ care home. The council members want to suppress this information from becoming public knowledge because there is a forthcoming by-election in the electoral division where the care home is located.The consultant has agreed not to submit the invoice for their fees, which are significant, until after the by-election. Normal accounting treatment would require the consultant’s fees to be included as an expense in the accounts. Additionally, the estimated costs of the potential closure may need to be included as a provision in the accounts. The members will not make their decision known until after the by-election, which will be after the audit has been completed and the opinion signed. A. Identify, define and explain two ethical dilemmas that are present in the scenario

The year end accounts for a local government authority have been prepared, and they will soon be adopted by the council, ready for audit. You are the head of social services finance, and you have become aware that some work has been performed by a consultant which has resulted in a proposal to close an elderly persons’ care home. The council members want to suppress this information from becoming public knowledge because there is a forthcoming by-election in the electoral division where the care home is located.The consultant has agreed not to submit the invoice for their fees, which are significant, until after the by-election. Normal accounting treatment would require the consultant’s fees to be included as an expense in the accounts. Additionally, the estimated costs of the potential closure may need to be included as a provision in the accounts. The members will not make their decision known until after the by-election, which will be after the audit has been completed and the opinion signed. A. Identify, define and explain two ethical dilemmas that are present in the scenario

EBK HEALTH ECONOMICS AND POLICY

7th Edition

ISBN:9781337668279

Author:Henderson

Publisher:Henderson

Chapter12: Medicare

Section: Chapter Questions

Problem 2QAP

See similar textbooks

Similar questions

economic Announcing in his Budget 2023 speech on Tuesday, Deputy Prime Minister and Finance Minister Lawrence Wong said cars with an OMV (the approximate cost of a car before taxes) higher than $80,000 will incur an additional registration fee (ARF, or the main car tax) of 320 per cent. The changes will take effect from the next round of certificate of entitlement (COE) bidding, which closes on Feb 22. Mr Wong said these changes are expected to affect the top one-third Do more research and apply what we have learned in “Demand & Supply”, “Elasticity” and “Taxation” to answer the following questions. 1. How does the ARF hike impact the luxury car market? Discuss the impact on the price and quantity of luxury cars (Use Demand and Supply graph to interpret your answer). 2. Mr Wong said the ARF hike was expected to affect the top one-third of cars and would generate about $200 million in additional revenue a year. Do you agree with his opinion? Apply the concept of elasticity to…
Shen is a tenured faculty member who teaches molecular physics at a university where he earns an annual salary of $160,000. He intends to take the next year off to focus on writing a new undergraduate physics textbook, so he will not earn any income next year. He is currently deciding how much of this year's salary he should save for next year. Assume that there are no tax implications associated with the decision, and ignore what happens after next year. Therefore, next year Shen will consume whatever he saves this year plus interest, and he is not concerned with the future beyond next year The following graph shows Shen's preferences for consumption this year and next year. Suppose initially Shen cannot earn interest on the money he Use the green line (triangle symbol) to plot Shen's budget constraint (BC) on the following graph. Then use the black point (plus symbol) to show his optimum consumption bundle. Note: Dashed drop lines will automatically extend to both axes. CONSUMPTION…
Jonathon and his family were negotiating a lease for commercial premises to be used for their Italian restaurant. Part of the negotiation concerned the ability of Jonathon to demolish a wall in order to remodel the interior and build a pizza oven. The landlord shook Jonathon’s hand and told him they had a deal and that he could go ahead and get started. Jonathon took out a large bank loan to finance the remodelling. Four weeks later, Jonathon received a letter from the landlord indicating that he did not intend to proceed with the lease. Jonathon has already spent $100,000 on the remodelling but he has not received a signed a lease as yet. Since there is no breach of contract, does Jonathon have any other recourse in equity?
Timber Solutions Ltd. is expanding and needs to hire more personnel in the accounting office. Leena Barker, the chief accounting officer, knew that her cousin Rose was looking for a job. Leena offered Rose a job as her assistant. Leena will be responsible for Rose’s performance reviews and training. What suggestions would you make to improve internal control at Time Solutions Ltd
A local art association holds an annual fair that has expenses of $5247. Based on prior history, the art association expects to make $17429 from the sale of food. This year, the art association would like to make a total profit of $27282 to help pay for an after school program for at risk kids. The fair usually charges an admission of $7. To meet the profit goal, how many people must attend the art fair this year?
In Protected View. Enable Editing e isn't genuine, and you may be a victim of software counterfeiting. Avoid interruption and keep your files safe with genuine Office today. Get genuine Office Q1. A company produces circuit boards used to update old-fashioned computer equipment. The taxes cost the company $20,000 per month, and the executive salaries cost $30,000 per month. The Materials used in the production cost $60 per circuit board. The selling price per unit isp $150 -0.02D. Maximum output of the plant is 4,000 units per month. a. What is the profit per month? b. Determine optimum demand for this product. c. What is the maximum profit per month? d. At what volumes do breakeven occur? e. What is the company's range of profitable demand?
Suppose your firm receives a $5.94 million order on the last day of the year. You fill the order with $1.91 million worth of inventory. The customer picks up the entire order the same day and pays $1.02 million up front in cash; you also issue a bill for the customer to pay the remaining balance of $4.92 million within 40 days. Suppose your firm's tax rate is 0% (i.e., ignore taxes). Determine the consequences of this transaction for each of the following: a. Revenues b. Earnings c. Receivables a. Revenues Revenues will d. Inventory e. Cash by $ million. (Select from the drop-down menu and round to two decimal places.)
The Office of the Auditor General is mandated to conduct audits of all public institutions inJamaica. It has been observed that the same observations and recommendations are made each year in the Auditor General’s Reports concerning increased misuse and misapplication of public funds. Following the establishment of new parish councils in some parishes around the country four years ago, there is concern that the trend of misuse and misapplication of public funds may be experienced in these newly established councils just like is the case with the existing councils. The Ministry responsible for local government has decided that consultants should be engaged to hold workshops with the controlling officers of the newly established councils on the importance of transparency and accountability in the use of public funds and the importance of internal controls systems. You work for a consultancy firm that has been engaged to run these workshops and all the new districts around the country.…
A manufacturing company provides jobs for many people in a small town where employment is not easy to find. The company has stayed in the town even though it could find cheaper workers elsewhere, because workers are loyal to the company due to the jobs it provides. Over the years, the company has developed a reputation in the town for taking care of its employees and being a responsible corporate citizen.The manufacturing process used by the company produces a by-product that for years has flown into the town river. The by-product has been considered harmless but some people who live near the river have reported illnesses. The by-product does not currently violate any anti-pollution laws.What are the issues of integrity, ethics and law posed in the case study? What options does the company have, and what should it do and why?
The Zagat Restaurant Survey provides food, decor, and service ratings for some of the top restaurants across the United States. For 15 restaurants located in Boston, the average price of a dinner, including one drink and tip, was $48.60. You are leaving on a business trip to Boston and will eat dinner at three of these restaurants. Your company will reimburse you for a maximum of $50 per dinner. Business associates familiar with these restaurants have told you that the mea cost at one-third of these restaurants will exceed $50. Suppose that you randomly select three of these restaurants for dinner. a. What is the probability that none of the meals will exceed the cost covered by your company (to 4 decimals)? b. What is the probability that one of the meals will exceed the cost covered by your company (to 4 decimals)? c. What is the probability that two of the meals will exceed the cost covered by your company (to 4 decimals)? d. What is the probability that all three of the meals will…
Describe the three steps in a replacement captial budgeting project in great detail
Data indicates that 20,000 cars in your town face unrecoverable losses totaling $24273776 annually due to theft and accidents. If insurance covers these losses, and 31% of premiums are set aside for operational costs, what premium should be charged to car owners?