To supplement her income, Jeanne Lester decided to start her own bookkeeping bus

Question

To supplement her income, Jeanne Lester decided to start her own bookkeeping business while still working as an office assistant at Howe & Lyon, a small CPA firm. Not having much start-up capital for her new business, she used her phone at work to contact clients and her work computer to print invoices and client letters. However, she ordered and paid for her own office supplies and used her own postage stamps to mail the invoices and letters. From the information given, has Jeanne misappropriated any of the firm’s assets? Defend your answer.

Explanation / Answer

Yes, Jeanne has misappropriated firm's assets by using the same for her personal purposes. A reasonable or small amount of usage may be accepted in professional ethics but regular usage for the same has increased the cost of phone bills and printing. Therefore, the acts of Jeanne are against professional code of conduct.

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