ACC 548 Week 5 Learning Team Assignment Reporting Requirements M to purchase http://allmysolution.com/ACC-548_c119.htm Product Description One issue in accounting is the qualifications of an accountant when working for a client. It is expected that a CPA will not engage in an assignment without proper qualifications. Your firm has the ability to bid on two projects: the first is engagement and examination work—not consulting or audit—for a small county hospital. The second is work for a private, not-for-profit nursing home. Prepare a memo of 700-1,050 words for the senior partner.
In groups of three or four, make a list of possible reasons that the actual ending inventory might not agree with the ending inventory according to a computer system. Jason Tierro, an inventory Jason Tierro, an inventory clerk at Lexmar Company, is responsible for taking a physical count of the goods on hand at the end of the year. He has been performing this duty for several years. This year, Jason was very busy due to a shortage of personnel at the company, so he decided to just estimate the amount of ending inventory instead of doing an accurate count. He reasoned that he could come very close to the true amount because of his past experience working with inventory.
The following Monday, Anderson received a message from Larsen’s lawyer letting her know any questions directed to Larsen would have to go through him. During the subsequent investigation by the new office manager, it was discovered that most of the alleged misappropriations involved the issuance of fraudulent checks, which were falsely recorded to look legitimate in the records and cash Larsen had stowed
Harriet Knox, Ralph Patton, and Marcia Diamond work for a family physician, Dr. Gwen Conrad, who is in private practice. Dr. Conrad is knowledgeable about office management practices and has segregated the cash receipt duties as follows. Knox opens the mail and prepares a triplicate list of money received. She sends one copy of the list to Patton, the cashier, who deposits the receipts daily in the bank. Diamond, the recordkeeper, receives a copy of the list and posts payments to patients’ accounts.
It took almost two years to discover the wrongdoings. The three elements of the Opportunity Triangle are commit, conceal, and convert. Committing the fraud is the starting point. Obviously, this occurred when Griffin decided to falsify the tax credits. Her motivation was mainly to financially assist friends and family.
Hebri sent a memo (dated July 24, 2002) to the agents directing them to obtain their own private security business licenses from the VDCJS and individual liability insurance so they could be classified as independent contractors. Issue: The issue is whether the bodyguards were considered to be employees or independent contractors for the purpose of the Fair Labor Standards Act. Decision: Judgment for Schultz. Reasoning: The five plaintiff-agents were employees under the FLSA. Because defendant CIS was one of their joint employers along with the Prince, CIS is jointly and severally liable for the payment of any overtime required by the FLSA during the agents’ employment.
One manager can order for the week and then alternate each week. This way, if one manager is out ill or for any other issue, there are two others who could handle the ordering with no hiccups in the system. Kathy also needs to hire a full time book keeper who can run all 3 stores until the volume is too large for one person, which it may already be, then each individual store needs to have a finance person. As far as the inventory, they can cut costs by hiring only one person to travel between the three stores with the help of the assistant managers. Everyone needs to be cross trained with every position.
Barbara will now be unemployed until she secures a job elsewhere, and with almost her entire earnings at Wal-‐Mart invested into her barely livable hotel room, she really has no extra money to get her by with living essentials until she is employed again. Leaving Wal-‐Mart seemed like a viable option to her because she had extra money saved away because she is not actually living on minimum wage. At the end of the day, Barbara has enough money to keep herself fed, clothed, and under a roof. Her friend, Melissa, on the other had, has very little money saved up and may not actually be able to sustain normal living conditions while in-‐between jobs. In conclusion, I applaud Ehrenreich for taking a stance against Wal-‐Mart and deciding to leave her job there.
Being with the company y for almost a year I can see the roles of a District Manager all the way down to my level as a Customer Service and Sales representative. The company acts not just as a bank but as a financial institution being able to serve almost all customers needs such a banking, insurance, credit, mortgages, loans, and more. Each individual from Tellers to CSSR’s to personal bankers and so are responsible for ensuring that customers know of all of their services that the bank offers and offering it to them as needed. The management team at the store level consisting of a store manager and a service manager are responsible that the sales of products and services are occurring when needed on every customer interaction whether it is form a teller or a CSSR or a personal
This paper will focus on consequential effects of ethical and unethical financial reporting, and the cascading affects on all supporting investors of Riverside Bottling Company. Background Riverside Bottling Company has secured a substantial insurance loan, which requires the general ledger to maintain at least a $200,000 monthly balance to avoid penalty charges as specified in the loan agreement (Weygandt, 2008, p. 382). For the month ending June 30 the balance of cash resulted in a $120,000 deficit. As the assistant controller, I report the discrepancy to the financial vice president, Gena Schmitt. Gena instructs that the cash receipts ledger to remain open for an additional day, as a $150,000 payment will post to the bank on July One from Oconto Distributors, and recorded as part of June’s receivables, which fulfills the requirements of the loan agreement, but misrepresents true closing receivables (Weygandt, 2008, p. 382).