Prepared For ACCT405: Financial Accounting Instructor Tim Vantuyl 6/8/2014 Case Study 2: LBJ Company Internal Control Assessment By Brian Tucker Student ID D40318643 Table of Contents Preface …..3-5 Body of Report Page …..6 Objectives of Internal Control …..6 Components of Internal Control …..6 Strengths …..7-8 Weaknesses Summary and Conclusion Preface With its introduction in 2002 the Sarbanes Oxley Act was meant to slow and detour the accounting infractions and criminal acts
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process. The financial reporting process is governed by accounting rules and standards, managerial incentives, and enforcement and monitoring mechanisms. It is important for a user of financial information to understand the financial reporting environment along with the accounting information presented in financial statements. In this chapter, the concepts underlying financial reporting are discussed with special emphasis on accounting rules. Next the purpose of financial reporting is discussed
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through 5 (up to p. 164) of Simkin’s Core Concepts of Accounting Information Systems or from class notes. I expect the exam will contain ~40 points in multiple choice questions and about 30 points in short discussions. Study tips: Learn to use the features of the text book. Study end-of-chapter material such as Key Terms and Test Yourself. Review the objectives at the beginning of each chapter and compare with the chapter-end summaries. Terms you should know (by chapter): * AIS, audit
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EDWIN KATO 15406 La Loma, Houston, Tx HOUSTON, TX 77083 edio2004@yahoo.com 832-774-9218 QUALIFICATIONS SUMMARY Financial Analyst with more than 2 years of increasingly responsible employment with a large corporation. Diversified, progressive experience in the analysis of financial / economic data supporting enterprise decision making including marketing and investments; financial planning, forecasting, and modeling; company valuation; credit underwriting; and portfolio management. PROFESSIONAL
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Financial information is needed for decision making purpose. * Book keeping and Accounting will provide such information. * Meaning of Financial Accounting * Process of identifying, measuring, classifying, recording, summarizing and interpretation of the transactions of a business in terms of money to ascertain the result and financial position of business activities of particular period. * Accounting is the art of recording, classifying and summarizing, in a significant manner and
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Course Description This course introduces students to the foundations of communication in a business accounting setting. Students are exposed to various topics related to interpersonal and group communications within the context of applications to the accounting field. Students will develop skills in the forms of written communication, including memos, e-mails, business letters, and reports. Other topics include communication ethics, collaboration, information utilization, critical thinking, and
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preparing your responses to the questions in the annual report project. If you did not purchase the workbook you are not permitted to use this template. INTRODUCTION TO THE CORPORATE ANNUAL REPORT: A Business Application with IFRS Content 3rd edition Copyright 2011 by Applied Accounting Analytics. All rights reserved. Reproduction or translation of this book beyond that permitted by the applicable copyright law without Applied Accounting Analytics’ permission is prohibited. Requests for
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describing cash, cash equivalents, receivables and inventories for Home Depot for the year ending on January 31, 2010, are all included in the Summary of Significant Accounting Policies. The Summary of Significant Accounting Policies is always the first footnote in financial statements prepared. This footnote is prepared in accordance with generally accepted accounting principles (GAAP) and contains the general policies for recording assets, liabilities, revenues and expenses. When firms wish to include
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Riordian Manufacturing Accounting Riordan Manufacturing, Inc., the global leader in the field of plastic injection molding. The company produces plastic bottles, fans of all sizes, heart valves, medical stents and custom plastic parts. Riordan Manufacturing is fully owned by Riordan Industries and has 550 employees and generates an excess of $1 billion in revenue with a projected $46 million of annual earnings. Riordan has facilities in San Jose, California, Albany, Georgia, Pontiac, Michigan
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and third, it is to recommend the possible actions and preventive measures to curb these scandals. 1. Introduction In the recent years, the public and business community have been surprised with the exposure of many corporate scandals and accounting fraud by the managers of the company. It disappoints many stakeholders as after the financial crisis in 1997, many efforts have been initiated and implemented to strengthen the business control and foundation of the company. One of the important
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