Salem Corporaton uses The calendar year as iTs fnancial and Tax annual accountng period.ManagemenT,

Salem Corporaton uses The calendar year as iTs fnancial and Tax annual accountng period.ManagemenT, because oF The seasonaliTy oF sales, wanTs To change To a fscal year beginning April1sT Through March 31sT. You have been asked To review The Tax law criTeria For making Thischange. WriTe a memo (750-1,000) To your C±O indicatng The ouTcome oF such a change oncurrenT Taxes and ouTlining The requiremenTs For making This change.2.Salem realizes The imporTance oF being a good corporaTe citzen and makes general conTributonsTo worldwide chariTable organizatons. ±or 2009, Salem wanTs To conTribuTe $1,500,000 To variouscharites. Based on 2008 Tax laws, iF Salem’s Taxable income beFore chariTable conTributons is$11,500,000 in 2009, calculaTe The chariTable conTributon allowance For 2009. Provide arecommendaton (500-750 word memo) To Salem managemenT regarding Tax implicatons oF ThisconTributon.3.CorporaTe eThics and Fraud have received much media a²enton Through reportng oF scandals aTmajor corporatons. Salem wanTs To make sure ThaT iTs fnancial reportng and Tax reportngresponsibiliTy is oF The highesT eThical sTandards. So ThaT you undersTand The Types oF eThicalmisconducTs ThaT corporatons are subjecT To and The penaltes ThaT can be given whenuncovered, use The InTerneT To research and fnd The Following:EThical sTandards For corporatonsRecenT changes To fnancial and reportng lawsCases where corporatons have commi²ed uneThical business practces and The resultngconsequences³he fnal wriTe-up should be approximaTely 750-1000 words. Make sure To menton The SOX acTand perhaps The IMA eThical code oF sTandards.Page 1 of 1

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