Worksheet for You Decide Name _Sean Russi__ Course Code _AC/555__ Grade ___/ Date_08/15/2011__ Questions: Q1: Discuss how the SEC has influence (if any) over the audit of Smackey Dog Foods, Inc. Solution: The SEC would definitely have influence over the audit of Smackey Dog Foods. The SEC would want to make sure that the auditors from Keller CPA firm followed the audit standards while performing the audit. Q2: Discuss the essential activities involved in the initial planning of an audit. How do these all specifically to the Smackey Dog Food client?
Internal control ACCT504 Financial accounting and Managerial use, analysis Keller Graduate school of Management Professor : Linval Frazer Week 5: Case study 2 Friday , April 4, 2014 Preparing LJB’s Internal Control Reporting for Public Trading Background LJB Company , a small business local distributor who understands to go public in the future, the company should be in accordance with the law and may need to take more stringent internal control principles . At the request of the president , an independent internal evaluation of internal controls was conducted to evaluate the direction of strength and weakness. Objective The objectives of this report should evaluate the existing controls and make recommendations that will ensure the companies assets and help get the most accurate financial information. Based on a system of internal checks and balances will be just in my recommendations to the president of the company, since most of the internal control systems provide for independent internal control; This principle involves the review of data prepared by employees. To get the maximum benefit from an independent internal control : Control values and Integrity from the top make it clear that it is unethical activities will not be accepted , and set the tone for the company's culture .
Under the Securities Act of 1933, the MIFT does not automatically fall into the category of exempt securities, so the company must still file a offering statement with the SEC to avoid penalties. Next, we developed an analytical Matrix that assisted us in deciphering between security law exemptions the company could leverage, and how they would realistically apply to Viscotech’s situation (see Exhibit 2). After analyzing the security laws pertaining to the issuance of securities, we decided their best option was the Regulation A offering to exempt the transaction from registration. It would have allowed the company to “test the waters” through a provision of Regulation A offering which allows companies to publish or deliver a written offering circular, radio broadcast, or television broadcast to prospective investors to gauge their interest before filing an offering statement with the SEC and taking on the fees necessary to do so. However, an offering statement would have needed to be submitted to the SEC and cleared before actually raising money through the Regulation A offering.
Advertisements are not offers. Advertisements is use to inform the public about a particular item. What is written in the advertisement can be constituted as an offer. Betty should have taken time to research the offer before driving three hour in one hundred degrees heat. Companies have found ways around bait-and switch laws, it is called fine print.
The company is required to file the auditor's attestation report as part of the annual report”. 2. Ernst & Ernst argued that the mail rule was not relevant to its audits of First Securities since that rule only involved personal transactions on Nay and the escrow investors. Do you agree? Why or why not?
Although a public utility company could be classified as a monopoly, their marketing plans and prices they charge must have the approval of the government (All Business, 2012). Oligopoly An oligopoly is a situation in which a small group of companies have the control over the supply of a product or service and therefore are able to control market price. The two types of oligopoly are perfect, where all parties have the same product or service, and imperfect, where the involved companies have the product or service but have a different identity. Examples of these would be the product of cement for the perfect oligopoly and cigarettes for the imperfect oligopoly (All Business, 2012). Cartel A cartel is a group of companies or even countries that have an agreement to regulate the production of a product or service and in turn are able to control the pricing.
The proposed solution should address the business process, should be appropriate to the Hometown Deli, should be briefly described and its major components listed, and an explanation should be given for why and how this proposed solution will improve the business process. Be sure to read the instructions for the remaining projects in this Case Study (Projects 3-5) to get an understanding of the future projects that build on the proposed solution and to help you in deciding upon your solution. You want to propose a solution that can be used in the assignments that follow this one, so be selective and choose an appropriate solution. Purpose of this Assignment This assignment gives you the opportunity to apply your knowledge of technology solutions to improve a business process. This assignment specifically addresses the following course outcomes to enable you to: * analyze internal and external business processes to identify information systems requirements * identify and plan IT solutions that meet business objectives.
Note: This document contains confidential information about the interviewees and their companies. All information provided is only intended for the grading of this assignment by lecturer of this course. Any other use is explicitly prohibited by the interviewees. This essay contains two interviews about the respondents’ most successful and least successful B2B negotiation. The first two cases involve trading by a distributor and the two following cases involve purchases of winter equipment at Schiphol Airport.
CASE 13-5 SPRINGFIELD NATIONAL BANK This case needs to be approached from a bank lending officer’s point of view. There is no one given answer rather several different approaches to this case study. Basically, you need to determine the best empirical study and then formulate recommendations to either extend the line of credit sought by Dawson Stores Inc, or decline to do so based on the accounting information that has been provided by them. From what I have read and researched, I would strongly recommend that you start off by determining the starting point / focus of your empirical study of this case. In my opinion, I would focus on the current assets section of the statement of financial position since it provides the fundamentals of the company’s need for the loan.
To support Peter with the meeting (which requires to be held with Dave under the disciplinary procedure) a. Outline what preparation needs to be undertaken prior to the meeting (you must also describe the documentation which will be required as part of this process) b. Draw up an agenda, with guidance notes to ensure this meeting is held according to legal requirements. To be completed by lecturer: Result | Q1 | Q2 | Q3 | Q4 | 1st Submission | | | | | 2nd Submission | | | | | Comments Assessor Signature: Date: Result - Pass Fail Remediation Assessment Part 1