The accounting department supervisor independently reconciles the accounts receivable subsidiary ledger to the accounts receivable control account monthly. C. The accounting department supervisor controls the mailing of monthly statements to customers and investigates any differences reported by customers. D. The billing department supervisor matches prenumbered shipping documents with entries in the sales journal. AICPA AACSB: Analytic AICPA BB: Critical Thinking AICPA FN: Risk Analysis Bloom's: Application Difficulty: Hard 32. Which of the following internal control activities most likely would assure that all billed sales are correctly posted to the accounts receivable ledger?
The audit report must show report that management has established and maintained internal controls for financial reporting. Certification of each annual report must be verified by the executive offers of the company, the report must show that they maintained established internal controls. The offices of the company must include in their reports evaluation of the internal controls effectiveness. Included in the reports, there must be reports of fraud that may have an effect that have any effect on the internal controls. The Sarbanes-Oxley Act contains 11 titles that describing rules and requirements for financial reporting in the United States (Wang,
Merliss wants to be sure that all reporting for this transaction is proper and transparent. The company asks you to research disclosure requirements related to its capital structure. A) Identify the authoritative literature that addresses disclosure of information about capital structure. Statement of Financial Accounting Standards (SFAS) No. 129 This statement sets standards for disclosing information about an entity’s capital structure.
Following is an overview of the Plan with regard to compliance by each of the Facilities with regard to the universal and individual reporting obligations they face with respect to tax policies, employment laws, environmental and manufacturing regulations, international trade restrictions, tariffs, transportation, and the political stability of international governments and trade opportunities. I. Enterprise Liabilities The responsibility for the reporting requirements has been divided amongst the individual managers and directors in such a manner as to provide a system of checks and balances to minimize the opportunities for error by the Company and to limit its legal liabilities. A sample of the division of those responsibilities is as follows: 1) The Chief Financial Officer, with the assistance of the Comptrollers or Senior Financial Officers and Accounting Department Managers of each of the facilities owned or operated by the Company, shall bear responsibility for making all payments and ensuring that the Company complies with all applicable federal, state, municipal and international laws, statutes, regulations or otherrequirements in connection
• The consumers should have access to viewing and printing contracts and all terms and conditions. The mentioned considerations listed above are required under the Frequent Shopper Program of Kudler Fine Foods. Ethical Considerations of Frequent Shopper
The FCPA sets out an intent or knowing standard of liability for corporate management. It requires all companies whether doing business abroad or not to set up a system of internal
Financial Statements ACC/290 For a successful business and effective performance of the company is necessary to know basic assumptions of the analysis of financial statements. Financial statements is the understanding that the analysis should be subjected to observation, testing, evaluation and formulation of a diagnosis process that took place in company and that as such, are summarized and embodied in the financial report. Financial analysis is exhaustive research quantification, description and evaluating the financial status and performance of business operations. Companies are required to at the end of each financial year, after all business changes its accounting records locked, in order to determine the exact and final state which has the purpose of compiling the financial statements. This report contains information on the financial position, performance and any changes affecting the financial position of
My chart of accounts would include Cash, Accounts Receivable, Accounts Payable, Equipment, Supplies and Salaries and Wage expense. If I operated a merchandising firm, the chart of accounts would also include Inventory, Sales Revenue, Sales Returns and Allowances, Sales Discounts and Cost of Goods Sold. A CPA would have to perform more functions in the reconciliation of financial records. In my company I would utilize the Accounting Information System to ensure the accuracy of accounts and to make sure all transactions are collected and processed so that I can review the Income Statement in a timely fashion. I would also utilize the segregation of duties to ensure no one person can defraud the company by being allowed to record and control assets.
The Act expressly governs all entities that are required to register with and annually report to the Attorney General. Attorney General has identified hospitals, educational institutions, religious organizations, government organizations, and political action committees as exempted from the Nonprofit Integrity Acts. Although these entities may be exempt from the Act’s provisions, the Attorney General’s office has jurisdiction to investigate alleged mismanagement of assets
RECORDS KEEPING COMPLIANCE FORM PURSUANT TO 18 U.S.C. § 2257 MODEL IDENTIFYING INFORMATION AND AFFIDAVIT: Model understands that all the information given in this Agreement is being provided to comply with federal law and any false statement will subject Model to both a civil action by Producer as well as criminal prosecution under federal and state law. _________ (Model’s Initials) Please print legibly. a. Legal Name: ______________________________ (Full Current Legal Name: First, Middle, Last) b.