I was a licensed tax preparer and accounting major years ago, so I have some experience in this area. I am not surprised that the tax preparer refuses to pay for an interpreter because as a small, independent business person with no employees this would constitute “an undue burden” for her. Businesses that employ 20 or more employees would be under a legal obligation to pay for interpreting services, but that is not the case here. I would tell my friend about the risks involved with hiring a tax preparer who does not work for a larger firm. I would advise my friend to ask the tax preparer if he/she carries professional liability insurance.
The city did not renew the grant that causes a shortage of $500,000 and the organization has to cut staff. Personal decision versus Board’s decision If I were on the Board of Director’s and was given this proposed budget that includes the grants from the previous year and anticipated grants I would not have approved the budget. The budget was made to include grant money that was not guaranteed to be given the following year. Mary did not take into account that she has already hired extra counselors and other administrative services. She should have made sure that the city was willing to renew their grant, before including this in her budget.
It is vital that owners and managers of businesses are able to recognise the indications of potential difficulties. Remedial action can then be taken. In this unit you should develop the skills and knowledge needed to understand and manage finances. The unit is divided into two parts. The first is an understanding of the accounting processes necessary to provide accurate and relevant financial information.
Because this is something the company or that particular district had never experienced it seems they were unfamiliar with how the employee might be able to accomplish her job while using a stool. Sometimes people are so closed minded they are unable to see the same things can be accomplished in different ways. Using a step stool would have enabled the employee to do her job successfully with out causing harm to herself or to other employees. The lawsuit promotes social change by persuading Starbucks and other companies to see people by what they can bring to the company and what benefit they may have, not by what they can’t do, or by what may be more difficult for them to difficult for
The accounting statements were capital spending schedules, which differed in spending amounts (Mintz & Morris, "Case 2-1 Cynthia Cooper and WorldCom," 2011). When audit personnel, Cynthia Cooper, required an explanation for the difference in the capital spending schedules; finance directors explained it as “prepaid capacity”, but had no knowledge of what “prepaid capacity” meant (Mintz & Morris, "Case 2-1 Cynthia Cooper and WorldCom," 2011). The case from here became even more tainted with dishonest practices and explanations. Cynthia Cooper and Glyn Smith meet with numerous WorldCom directors, executives, and external partners to gained a more in depth understanding of the situation; but continued to receive the run around. There were some WorldCom directors who made entries, but didn’t know what they were for and GAAP support (Mintz & Morris, "Case 2-1 Cynthia Cooper and WorldCom," 2011).
When the invoice is submitted the e-mail database must have enough memory to support the constant e-mails. If this is a credit sale, the invoicing department must forward the approval, along with the report to the compliance/accounting department. The accounting department has more access; because each item needs to be verified by them and they also need to verify the credit report is viable. Once they are finishing testing the invoice, they need to comment on the database that the certain individual tested this invoice and it is compliant or noncompliant. There should also be a brief explanation explaining why the transaction is what they deem it
(Rainer, 2011) Without that we will not be able to show were all the funds go in the business. Then you have the transaction processing system which will keep the records of all the receipts that we bought from another business. How would we be able to know what we got from what company? This one of the most important system is the office automation system which will log everything that we have in our record store to keep on track of our daily activities. Without this we wouldn’t be able to show what is going on in the business at the end of the year at tax time.
Because many information is stored in few places on the network machines, and many individuals has access to it, important is for organization to build the right architecture of needed database system and have the security policy in place before any of this will be used on a daily basis. The multilevel data distribution should be considered and have a few levels of security that allows not every individual access it to every data but only certain level of information. Architectural design plays important role in this step. Legal Issues Thinking about the legal issues can bring up many questions about what consequences may occur if the organization is not protected by the law in case of stolen data or attack to the database. One of the main issue that companies, individuals or database administrators can face or deal with when it comes to the database system is the copyright laws of the United States.
This is the most important quality of someone that works in accounting because you are responsible for recording all the financial information for the company and any wrong information could discredit your business and may also put you into a lot of trouble. Having great mathematical skills would also be another quality because you have to know your percentages and how to come with the figures for the budget as well. Also, having some knowledge of what investments would be good for the business as well. The type of education that I would require for my accounting staff would be that they are certified to be an accounting; I would also prefer that they have the work experience in the accounting as well. Having the experience in management would be a must as too, you would need to know how to handle yourself in certain situations when it comes to dealing with problems may occur or with dealing co-workers that work in your
Our company is small but is doing very well as far as making money; some of our employees do have a problem with following rules and regulations. The other day one of the owners found out that one of the other owner daughters that is working for our company in the shipping department has started her own coin business. This is a conflict of interest, although it is not illegal if a policy is not given to each employee to sign. That is why it is so important for policies and rules to be enforced at all times. If there aren’t any policies and rules enforced than the owners can find themselves in a bad situation such as a law suit against each