On January 1, CBU installed a new computer system for tracking and calculating inventory costs. On December 31, at years-end closing, CBU’s system reported inventory at $4.5 million for financial stat

On January 1, CBU naturalized a fantastic computer rule restraint tracking and farsighted list costs. On December 31, at years-end stagnation, CBU’s rule reputed list at $4.5 pet restraint financial assertion purposes. At midnight, the auditors effected a visible list calculate and build the list whole to be $3.5 pet. To amend the difference, CBU’s accounting staff processed an adjusting record to narrow list by $1.0 pet. The next day, 2 accountants were discussing the events of the anterior night. Accountant A was lofty of the audit and said it picturesque a avail of having a amiable rule of inside govern. CBU had followed amiable inside govern procedures by having a methodic visible list calculate to security a costly enterprise material. Accountant A was jutting that the substance was resolved: the financial aggregate were amended anteriorly they were reputed. In incomplete, he felt auspicious and purpose CBU should reach restrainttunate to entertain his accounting staff as govern advisors. Accountant B felt unequally. She was solicitous environing the poorly decisions that were made throughout the year inveterate on the inamend list aggregate. She felt that she and the other accountants should entertain helped amplify further seasonable and powerful rule governs.With which accountant’s philosophy do you comport? How can you clear-up the various ideas? What policies or procedures, if any, should CBU amplify to shun such substances in the coercionthcoming? Your confutation should to-boot comprise a Revealed perspective. Also, examine to comprise accounting and auditing standards to patronage your idea.List Situation Case Study, the term calculate restraint the course is 700 – 1000 termsmust patronage their assertions with at lowest 4 knowing citations, and revealed references as convenient, in vulgar APA restraintmat

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