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ethics , accounting

After reading the following, ;discuss in detail the following questions.

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On May 31, 2012, Express Delivery, the overnight shipper, had assets of $21,000,000 and total liabilities of $13,000,000,000. Included among the assets were property, plant and equipment with a cost of $17,000,000,000. During the year ended May 31, 2012, Express delivery earned total revenues of $28,000,000 and had total expenses of $25,000,000,000 of which $8,000,000,000 was depreciation expenses. The CFO and the controller are concerned that the results of 2012 will make investors unhappy. Additionally, both hold stock options to purchase shares at a reduced price, so they would like to se the market price continue to grow. They decide to ; “ extend” the life on assets so that depreciation will be reduced to $5,000, 000,000 for 2012.

  1. Discuss the motivation for the changes in the asset lives.
  2. Discuss the impact of the change on the net income.
  3. Discuss whether you find the change ethical or unethical
  4. Discuss whether AICPA code of conduct section 50 and 300 will help you make an ethical decision.

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