Enforcement of Ethical Behavior and the Importance of Timing in the Recording of Purchases

Discussion Topic 1:

At Calhoun's, a large department store, Angie and Neal are department managers in the housewares and shoe departments, respectively. Neal has observed Angie taking inventory from her housewares department home with her, without paying for it. She also tried on several pairs of expensive running shoes in his department and found one that fit her. Soon after, Neal discovered that the pair of shoes she liked was missing. However, Neal did not report Angie for any of these incidents.

From an accounting point of view, does ethical behavior have to be legally enforced? Why or why not? 

What should Neal do in the above scenario?

Discussion topic 2:

Hiller Corporation manufactures electronic components and never closes its books until at least ten days after the month end. This way, it can sort out ownership of goods in transit, and document which goods were received by month end, and which were not.

You've just graduated from Strayer University with your bachelor's degree in accounting and have been hired by the Hiller Corporation as a new accountant. Your supervisor asks you to record the 8th of February's $50,000 inventory sales transaction that is FOB destination to be part of the month of January revenue account.

As an accountant, how would you handle the above situation? Include concerns about the importance of timing in the recording of purchases and ethical standards.