...It is the second Monday night in October and it is now 3 a.m. You cannot sleep. You are the CFO of Marysville General Hospital, a 300-bed community hospital in the Midwest. Your hospital board meets at noon on the second Tuesday of each month. You have a truly awful report to give the board, and you are dreading it more than anything else you've done in your 15-year career as a hospital senior manager. The target for days in accounts receivable (which the board and CEO set some years ago) is 55 days. When AR days are at 55, cash flow to the hospital is strong and you can meet all monthly obligations while putting some money away into investments for the hospital’s future. It has been several years now since the hospital has seen its AR at 55 days. There have been many factors, but AR has been in the 70–80 day range for some time now. Last month it crept up over 90 days, and this month you have the painful task of reporting to the board and CEO that the hospital is carrying 100 days in accounts receivable. You must come up with a plan to bring AR days back in line, and you will not be able to accomplish that alone. It will take cooperation from the medical staff, the clinical departments, health information management, the business office, and many others. But it must happen and it must happen soon, or your community could actually lose its hospital. Your Role/Assignment Come up with a plan to bring AR days back in line. It will take cooperation from the medical...
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...statement ■ Statement of retained earnings ■ Post-closing trial balance The financial statements must be created in one Microsoft Word document (.doc or .docx file). Alternatively, an Excel workbook may be used (.xls or .xlsx file). The Word or Excel file will be uploaded for grading. INSTRUCTIONS Read the following instructions thoroughly before beginning your work. This will help you to become familiar with what is involved in the project. Some students start on the project right away, thinking they’ll save time. Those students tend to get stuck and spend more time working through the project than is necessary. The material you need to know in order to complete the project has been covered in the textbook and the assigned exercises and problems. If you understand the chapters and completed the assigned homework problems, you should have no problem with the project. The project is to be done by hand with a pencil and paper. Use the blank forms provided. At the end of the project, you’ll be given instructions for creating and uploading the financial statements in a Word or Excel file for grading. 27 Graded Project Graded Project Note: The formatting of financial statements is important. They follow Generally Accepted Accounting Principles (GAAP), which creates a uniformity of financial statements for analyz- ing. This allows for an easier comparison, as all businesses follow GAAP. Therefore, the financial statements should be created exactly the same way shown or referenced...
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...statement Statement of retained earnings Post-closing trial balance The financial statements must be created in one Microsoft Word document (.doc or .docx file). Alternatively, an Excel workbook may be used (.xls or .xlsx file). The Word or Excel file will be uploaded for grading. Read the following instructions thoroughly before beginning your work. This will help you to become familiar with what is involved in the project. Some students start on the project right away, thinking they’ll save time. Those students tend to get stuck and spend more time working through the project than is necessary. The material you need to know in order to complete the project has been covered in the textbook and the assigned exercises and problems. If you understand the chapters and completed the assigned homework problems, you should have no problem with the project. INSTRUCTIONS The project is to be done by hand with a pencil and paper. Use the blank forms provided. At the end of the project, you’ll be given instructions for creating and uploading the financial statements in a Word or Excel file for grading. 06155200: Graded Project Instructions & Worksheets 1 Note: The formatting of financial statements is important. They follow Generally Accepted Accounting Principles (GAAP), which creates a uniformity of financial statements for analyzing. This allows for an easier comparison, as all businesses follow GAAP. Therefore, the financial statements should be created exactly...
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...Statement of retained earnings ■ Post-closing trial balance The financial statements must be created in one Microsoft Word document (.doc or .docx file). Alternatively, an Excel workbook may be used (.xls or .xlsx file). The Word or Excel file will be uploaded for grading. INSTRUCTIONS Read the following instructions thoroughly before beginning your work. This will help you to become familiar with what is involved in the project. Some students start on the project right away, thinking they’ll save time. Those students tend to get stuck and spend more time working through the project than is necessary. The material you need to know in order to complete the project has been covered in the textbook and the assigned exercises and problems. If you understand the chapters and completed the assigned homework problems, you should have no problem with the project. The project is to be done by hand with a pencil and paper. Use the blank forms provided. At the end of the project, you’ll be given instructions for creating and uploading the financial statements in a Word or Excel file for grading. G r a d e d P r o j ec t G r a d e d P r o j ec t 28 Financial Accounting Note: The formatting of financial statements is important. They follow Generally Accepted Accounting Principles (GAAP), which creates a uniformity of financial statements for analyzing. This allows for an easier comparison, as all businesses follow GAAP. Therefore, the financial statements should be ...
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...TABLE OF CONTENT Introduction_________________________________________________________________________1 GROUP REPORT________________________________________________________________1 Visual Application Sketch___________________________________________________________1 Menu Form_____________________________________________________________________3 Menu Form Codes_____________________________________________________________3 LoginCreate Form_____________________________________________________________________4 Login TabPage 1___________________________________________________________4 Create A New Account TabPage 2_________________________________________________5 LoginCreate Form Codes_________________________________________________________5 Customer Form__________________________________________________________________7 Customer Form Codes___________________________________________________________8 Advertise Form_____________________________________________________________________9 Advertise Form Codes_______________________________________________________10 Payment From_____________________________________________________________________11 Payment Form Codes_______________________________________________________12 Staff_Login Form_____________________________________________________________________13 Staff_Login Form Codes_________________________________________________________14 Staff Form_____________________________________________________________________15 ...
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...hypothesis (Donald R. Cressey, 1973). The fraud triangle is a model for explaining the factors that cause someone to commit occupational fraud (acfe, n.d.). Type of fraud: Management fraud Fraudulent financial reporting Misappropriation of assets. (Arens/Elder/Beasley, 2012) ©2012 Prentice Hall Business Publishing, Auditing 14/e, Arens/Elder/Beasley At the types of fraud, usually the Management fraud are including fraudulent financial reporting and the misappropriation of assets. Why the company will occurs the fraud, because the employees and managers have incentive, opportunities and attitude. The fraud specific fraud risk area are including revenue and accounts receivable fraud risk, inventory, purchases and other area Management fraud Management fraud, as the name suggests, is perpetrated by the top management of a company who has the intention of misleading investors (Dutta, 2013). Usually management fraud by accounting manipulation and misstates the...
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...will answer five questions: 1) Who is affected? 2) What are the likely consequences? 3) Are there any rights or duties at stake? 4) What principles are involved? and, 5) What are the implications for the characters? Lastly, the case will be examined through the lens of an HR practitioner; specifically, how to best resolve the given situation will be discussed. 1) Who is affected? Ed Harrison, his staff—specifically John Blank, the Jewish employees and the Christian employees particularly, and the HR person or department. As the owner of the agency, Ed Harrison is affected. Due to the small size of the firm, he will ultimately be involved in the incident between Blank and the born-again Christian. If the company had been bigger, Harrison may not have heard about this issue if it was resolved through HR or another party. John Blank is clearly affected as he is offended by the religious screen saver of another employee. He claims that the other Jewish employees are also offended—though a first hand account from them is not provided. Consequently, Blank has spoken with the born-again Christian—and has not yet resolved the matter. Thus, this employee is now too affected. This can potentially lead to a clash between the religions 2) What are the likely consequences? Though a discussion of how HR should handle this scenario will be followed shortly, consequences that I can talk about now are any of those actions that will lead to resolvment. Not all people can always be...
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...waived his fourth amendment rights for search and seizure, case number CE340659 expiring 9-9-17. During a compliance check of property belonging to Jeter, deputies located additional items of personal identifying information belonging to at least nine other potential victims. Additionally in Jeter's possession were two completed checks and one blank check none of which belonged to Jeter, and a useable quantity of a brown tar-like substance consistent with heroin. The suspected heroin later showed a positive presumptive test for heroin using a NARK II...
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...mpensation management Disclaimer This document contains a collection of online assignment questions intended solely for the use of the SCDL students. If you are not the intended recipient, please delete the document. This document may contain viruses. I have taken every reasonable precaution to minimize this risk, but not liable for any damage you may sustain as a result of any virus in this document. You should carry out your own virus checks. Please note that this document is susceptible to change and I shall not be liable for any improper, untimely or incomplete transmission. I have taken every reasonable precaution to make sure that the questions from other subjects do not creep in. If this happens without my knowledge, please ignore it and bring it to my notice so that I can rectify it at the earliest. I do not guarantee the occurrence of these questions in your FINAL EXAMINATIONS. Thank you for all the support. *********************************************************************************************************************************************** Multiple Answer Question Extent of employees turnover depends upon :- Correct Answer Physical conditions within organisation , Type of industry , Male to female ratio True/False Question Performance standards & norms for incentive payments should be set up high for better results. Correct Answer False Multiple Choice Multiple Answer Question E.S.I. Act aims at providing...
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...Group Case # 2 Student Name: Pardeep Kaur Student ID: 300586082 Student Name: Course: Advanced Auditing, ACCT 742 Bud's Big Blue Manufacturing Accounts Receivable Confirmations List the four factors auditors should consider when evaluating the results of confirmation procedures: External confirmations are direct written response from third parties, addressed directly to auditors. External confirmations are obtained to satisify the existenance, accuracy, allocation, and cutoff objectives. It is important that the auditor keeps control on the procedures to get unbiased results. Confirmations should be tailored designed to meet the specific objects of a particular audit engagement and auditor should consider all the factors which can affect the responses. Followings are the four factors auditor should keep in mind while evaluating the external confirmations to arrive at the conclusion that responses received provide sufficent appropriate audit evidence regarding the assertion being audited: The reliability of confirmations: The auditor has to understand the reliability of the responses because even though the responses are obtained from the external sources, circumstances may affect the reliability. Responses may carry some risks of interception, frauds, and modifications. Information obtained may be not from authentic sources. The nature of any exceptions, including any implications and if any restrictions are imposed by the client over or included...
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...see the word count in the selection. Contextual ribbon tabs Some tabs appear on the ribbon only when you need them. For example, if you select a table, you’ll see Table Tools, which includes two extra tabs — Design and Layout. Dialog box launchers If you see this icon next to any group of ribbon commands, you can click it to see a box with more options. Minimize the ribbon Click here to close the ribbon and show only the tab names. Switch views Switch to Read view, Print view, or Web view. Zoom in or out Move the slider to adjust the view magnification. Quick Start Guide When you first open Word 2013, you’ll see that you have several choices for getting started — using a template, a recent file, or a blank document. Search for online templates Type keywords into the search box to find templates online at Office.com. Suggested searches Click on the words below the search box to find some of the most popular...
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...company based on an idea of making exceptional natural dog food not only for their dogs but also for their community. Its popularity grew and they expanded their business to opening a boutique division named Best Boy Gourmet, with food that must be consumed no later than 3 days after its production. This was the beginning of some issues that as the company grew, these issues grew also. Major Issues. There is a lack of solid internal controls in Smackey Foods based on the trust that is being put into certain employees to complete their positions. Some indicators were present that would have indicated that the internal controls should have been appropriately applied. These indicators are waste issues, sales projections being off 11%, and accounts receivable. The first issue that is found with Smackey Foods, is the fact that there is a lot of waste and it is mentioned a couple times within the narrative. It is odd that even though demand seems to be high that the waste is also high. Since they rely on fresh ingredients they are putting themselves in a precarious position that would put them in a stance to fail in the winter months. If one ingredient is unattainable or late, it can spoil the rest of the materials, which is one indicator why waste is so high. They should have invested in equipment such as refrigeration storage, to keep the materials fresh. Then the waste from lack of use and lack of materials would be solved. Another indicator is the field work observation...
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...policies, plans, and procedures implemented by a firm to protect its assets” (Bagranoff, 2008, p. 240). The necessary procedures are in place to ensure the validity and efficiency of the data that the users input into the Accounting Information Software (AIS). The flowcharts reveal the pattern for the accounts receivable, accounts payable, inventory process, and payroll processes. Each process will generate many levels of risk factors that can be reduced by several internal control procedures. According to Hunton, Bryant, and Bagranoff (2004), the assessment of IT risks are by the managers and auditors to determine how to apply resources (p. 51). The cost-benefit analysis is crucial to ensure that the cost of the internal control to reduce the risk does not increase the monetary value of the control. The purpose of the internal control application is to create a smooth operating procedure that does not deter effectiveness and efficiency of the data. Along with the AIS internal controls, there are other controls that will assist in creating a trustworthy working environment. The risk assessment is greater when the assets are more liquid (Bagranoff, p. 243, 2008). With accounts receivable, it is important to assume that the risk of misuse of the financial assets. The internal control should be within each process to ensure validity. The suggestion of segregation of duties, user id secured access to different modules of the AIS, and approval process should be...
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...Case Study: LJB Company Internal Control Recommendations There are two primary goals of internal controls. The first is to safeguard its assets from employee theft, robbery, and unauthorized use. The second goal is to enhance the accuracy and reliability of its accounting records. This is done by reducing the risk of errors and fraudulent activities in the accounting process. Public companies are now required by regulations Sarbanes-Oxley Act of 2002 (SOX) among them to formalize control procedures in writing. Privately held companies and other organizations also have an interest in the benefits that result from formalizing and documenting their internal control procedures. Companies must develop sound principles of control over financial reporting and continually assess that the controls are working. The new rules require management to disclose to the public any material weakness identified by management. The report must also state that the company’s independent public accountant who audited the financial statements included in the annual report has attested to and reported on management’s evaluation of internal control over financial reporting. This new attestation requirement under Section 404 expands the scope of the accounting firm’s audit procedures beyond the work required solely to render an opinion on the financial statements (1). Without adequate controls to ensure the proper recording of transactions, the resulting financial data may become unreliable and undermine...
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...Score: ______ / ______ Name: _Kennedy Maddox Student Number: ______________________ | | |1.Elsie is making a quilt using quilt blocks like the one in the diagram. | | | |[pic] | | | |a. How many lines of symmetry are there?Type your answer below. | | | |4 lines of symmetry | | | | ...
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