Case 2.1 1. Family owned businesses are at higher risk for fraud and or misstatement due to the fact that many have trouble keeping up with technology, developing efficient and effective accounting processes, and maintaining their business profits. Also family owned businesses sometimes fail to create proper separation of duties due to the trust of family members. There is also the fact that when fraud takes place family members do not act on it because of their loyalty to family. Auditors could suggest a better separation of duties, bringing in of outside accountants and managers. Also auditors should be well prepared in knowing which documents apply to, and are available for a particular business. 2. Prepaid inventory account- to verify and match all documents pertaining to prepaid inventory.
Merchandise inventory – to distinguish which inventories in merchandise might have been included in prepaid inventory and double counted. 3. Grant thornton should have requested more documentation from the vendors rather than directly from JGI. Internally prepared audit evidence is less reliable that that from outside sources. 4. Testing the step by step procedures of a company first hand to evaluate their reliability. It is not required by GAAS 5. Obtaining documentation from outside sources, recalculation, questioning of the companies accountant Cohn 6. The auditors have no responsibility beyond bringing potential weaknesses to the companies attention.
Lakeside introductory case 1. Partner- is responsible for working with a
industry employs thousands of safety professionals, most of whom work for contractors (general or subcontractors). Prior to the 1980s, only a few progressive owners held employees and construction contractors who worked in their facilities to a higher level of safety performance than OSHA standards. Then came a real push for safety performance excellence as insurance carriers demanded that contractors provide their own full-time safety field supervision. In addition to the considerable efforts by safety-conscious…
Measure B: Clean Water Official Title and Summary ➢ This measure will work to repair water fountains in the A building as well as those around the baseball field. Not only that, new water fountains will be installed near the B building and the C building in order to make water available to students who have classes in those buildings. ➢ Many of the fountains in the A building do not work, depriving students of the opportunity to take a quick sip during passing period. ➢ Also, the additi…
addressed. Brick Township High School, needs to increase on the amount of field trip opportunities given to students, if any at all. This cause is very important, because field trips give students the opportunities to get engaged and interested in their studies. It not only lets students engage intellectually, but it also lets them engage emotionally and physically. This can result in a more powerful and memorable learning experience. Field Trips should be opportunities for those who have worked hard and…
Clinical Field Experience D: Advocacy The organization that I selected to do my clinical field experience at is called RHA Howell’s Child Care Center that is located in North Carolina. I had a chance to with the director whom has been employed with the facility for over 25 years. The facility is a based intermediate care for the mentally retarded (ICR/MR) which was founded by a lady named Irene Howell. It consist of 125 beds dedicated to intermediate care. The main function of this facility…
profession within the wider field of healthcare administration. Medical coders review the documents within a patient’s medical records. They will then translate the written documentation into medical codes that are used throughout the medical field. These codes are used to submit claims to third party payers, and to gather information by keeping track of incidents of specific diseases. Accurate medical coding is essential to the healthcare industry and is used every day to ensure the most quality care…
understanding of my work role and what is needed for this. For example; - Understand the aspects that I will need to carry out accurately - If there is room for improvement, where to get this training and get relevant experience To start working in this field you would need to do a lot of research as to what is needed and how to achieve this. To start off with one should decide in what field they want to work in and obtain a job description. In case, as I have decided I would like to work as a nursery…
All there organizations work hand in hand in order to protect the citizens of the county and the county as a whole. All three level of the criminal justice system have many different functions within each level organizations, but they all serve for the same purpose in which is to protect citizens from illegal acts, and to ensure that the United States is free from different attacks. The levels of the criminal justice system…
CHAPTER I INTRODUCTION Accountancy or Accounting is said to be the “language of business”. It is the art of communicating in terms of financial aspects in the business world. It communicates in the form of financial statements that shows the income, assets, expenses, liabilities and capital of a certain business. It is a branch of mathematical science that shows the reason behind the excellent success of a company, as well as its downfall or failure. Accountancy qualifies as a profession because…
best qualifications and jobs by their enhanced peers. Is this fair? Should people be free to use drugs like Modafinil and Ritalin to get ahead, or should education authorities and employers ban such enhancement, perhaps introducing urine tests to ensure that this ban is enforced, as cambridge neuroscientist Sir Gabriel horn has recently been quoted to suggest (henderson 2008)? We can start with a terminological point. Whether or not the use of cognitive enhancement drugs constitutes cheating depends…