Discuss your organization and why you chose that particular process. List and explain the steps in the process from start to finish.

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Business Process

Instructions
Select a typical business process (sales, purchasing, payroll, etc.) from your organization or an organization you would like to create. Discuss your organization and why you chose that particular process (the importance of the process). List and explain the steps in the process from start to finish. You may use the textbook’s order-to-cash and purchase-to-pay steps from Chapter 2 as examples.

Based on the five components of an internal control system critically discuss what auditors could do to reduce the risk of fraud associated with deficiencies in their client’s internal control system.

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Auditing

Assignment Task

You should produce a report covering parts A and B below. Exclude executive summary but in-text citations should be provided throughout the report.

Part A
Research into any high-profile corporate fraud case for which the amount involved exceeds £249
million (either caused by fraudulent financial reporting or misappropriation) and briefly discuss the role played by external auditors in the scandal. You must also identify the audit approach and/or
procedures used by the auditors prior to the fraudulent activity being exposed and lessons learnt
from such a scandal.

Part B
ISA 315 states that auditors need to understand their clients’ internal controls to be able to assess
the risk of material misstatement. Based on the five components of an internal control system
critically discuss what auditors could do to reduce the risk of fraud associated with deficiencies in
their client’s internal control system. A report with all the requirement listed below (maximum 1,500 words).

Provide your thoughts how the statement of cash flows works in concert with the balance sheet and income statement of provide a picture of a company’s financial situation.

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Statement of cash flows

Provide your thoughts how the statement of cash flows works in concert with the balance sheet and income statement of provide a picture of a company’s financial situation.

Briefly interpret the results of each item or comment on all 4 items together.

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Nike Inc. SEC-10K Report

PAGE 2: This page is the start of the main body of your paper. Your paper must have the section headings in bold and follow the same numbering sequence as below.

Introduction and Company Background Information (minimum ½ page) 5 points.

Discussion on Income Statement (minimum ½ page) 12 points

III. Discussion on Balance Sheet (minimum ½ page) 12 points

IV. Discussion on Statement of Cash Flows (minimum ½ page) 12 points

V. Ratio Analysis (need a minimum of 3 ratios) 16 points. Computational support must be shown. Alternatively, if you found the ratios on a website, you can use it with the condition that you must cite your source here in this section as well as at the end of the paper along with other citations.

(1) Current Ratio: 1.1

Comments: You must briefly interpret the results in 1-2 sentences.

(2) Accounts Receivable Turnover 2.5

Comments: You must briefly interpret the results in 1-2 sentences

Note: The above ratios were provided for illustrative purposes only. You decide which ratios you wish to use. You must follow the format provided in the sample Costco report to avoid loss of points.

VI. Horizontal Analysis (need a minimum of 3 items-2 from Balance Sheet and 1 from Income Statement) 16 points

Account 2016 2015 Difference $ Difference %

Cash $1,050,000 1,000000 $50,000 5%
Accounts Receivable etc.
Comments: You can briefly interpret the results of each item or comment on all 4 items together. If you choose to comment on each item, your comments must immediately follow each item.

Note: The above accounts were provided for illustrative purposes only. You decide which accounts to analyze. You must follow the format provided in the sample Costco report to avoid loss of points.

VII. Vertical Analysis (need a minimum of 3 items-2 from Balance Sheet and 1 from Income Statement) 16 points

Note: The base accounts Sales or Total Assets or Total Liabilities & Stockholders’ Equity does not count as one of the two items although you need to include the base account used.

Eg. Income Statement

Base: Revenues $5,000,000

CGS $1,000,000/$5,000,000 =20%

Net Income: $2,000,000/$5,000,000=40%

Balance Sheet

Total Assets Base: 10,000,000.

1. Cash 1,000,000/10,000,000 = 10%.

2. Inventory: 2,000,000/10,000,000=20%.

Comments: You can briefly interpret the results of each item or comment on all 4 items together. If you choose to comment on each item, your comments must immediately follow each item.

Note: You must follow the format provided in the sample Costco report to avoid loss of points.

VIII. Conclusion (minimum 1/4 page) 5 points

IX. References: Minimum of three. 6 points

Resources to use:

https://www.sec.gov/ix?doc=/Archives/edgar/data/320187/000032018721000028/nke-20210531.htm

Provides an overview of what was learned from the course and how it applies to the student’s career goals.

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Administartive manager

Introduction
Provides an overview of what was learned from the course and how it applies to the student’s career goals.

 

What is balance sheet and how does it provide a company’s financial standing.

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The Balance Sheet

What is balance sheet and how does it provide a company’s financial standing.

How was Melissa Robinson able to commit fraud without detection? What controls could have prevented this fraud from occurring?

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A Wolf In Sheep’s Clothing

Read the case study: A Wolf In Sheep’s Clothing, beginning on page 121 of the textbook and complete the following:
Answer the following questions:

How was Melissa Robinson able to commit fraud without detection? (List and explain at least three)

What controls could have prevented this fraud from occurring? (List and explain at least three)

What controls could have detected this fraud before Melissa was able to pilfer more than $60,000? (List and explain at least three)

List at least three examples for each question. Provide thorough explanations for each, and make sure that you are answering the question that’s asked.

What is the advantage of using comparative statements for financial analysis rather than statements for a single date or period? How does the use of the materials requisition help control the issuance of materials from the storeroom? Describe how total variable costs and unit variable costs behave with change in the level of activity.

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Accounting Writing Assignment : Unit 3

Choose a question below. You only need to select one question from the list below:

1. What is the advantage of using comparative statements for financial analysis rather than statements for a single date or period?

2. How does the use of the materials requisition help control the issuance of materials from the storeroom?

3. Describe how total variable costs and unit variable costs behave with change in the level of activity.

How do computerized budgeting systems aid firms in the budgeting process? Why would standard cost be a more appropriate transfer cost between cost centers than actual cost? Discuss the principal limitations of the cash payback method for evaluating capital investment proposals.

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Accounting Writing Assignment : Unit 4

Choose a question below. You only need to select one question from the list below:

1. How do computerized budgeting systems aid firms in the budgeting process?

2. Why would standard cost be a more appropriate transfer cost between cost centers than actual cost?

3. Discuss the principal limitations of the cash payback method for evaluating capital investment proposals.

Using the data file provided by Turf Products, perform some analytical tests using IDEA that you think may be necessary.

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Aud. Week 2

Writing, using software, and interpreting results is a large part of your learning experience. These assignments are designed to improve your use of technology and communication skills. Using proper business English and resources from the library you will comment and share your research with your classmates. Make sure you note your source in proper APA format.

Project Information:
One of your accounting firm’s high net worth clients, Todd Caito, is considering investing a significant amount of money in a new toy manufacturing company. The company, Turf Products, is predicting it will have the hottest toy this holiday season, based on the sales revenue it has generated the last three quarters. Todd has provided you with the detail for the revenue account and would like you to conduct some procedures and analyze the results. Todd is concerned the revenue figure might be overstated.

Week 2: Using the data file provided by Turf Products, perform some analytical tests using IDEA that you think may be necessary. Remember there are tutorial videos on the IDEA website to assist you. Write a 1-2 sentence explanation for each analysis you are performing and printscreen your results along with the history log when you have completed the analysis in IDEA to turn in this week.