CheckPoint Impacts of Unethical Behavior XACC/280 March 11, 2014 The company that I chose to research is Tyco International. Tyco International was involved in an unethical behavior many years ago. Suspicions came up about there being some wrongdoings being done in the accounting department, and there was. At this point an investigation began; after a few years of investigation, in 2002 it was announced that Dennis Kozlowski (Tyco’s former CEO) , Mark Swartz (Tyco’s former CFO), and Mark Belnick
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Internal Controls XACC/280 m m Internal controls are an integral part of a business operation because of the extreme importance of assets. Assets are basically an economically valued item owned by an individual or corporation, which most often has a direct conversion rate to cash. Examples are cash, securities, accounts receivable, in-stock product, business equipment, real-estate, cars, and other valuable property. Assets are business resources which could lead to being able to generate
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Running Head: Reversing Entries CheckPoint: Reversing Entries XACC280 Week 5 Writer’s Name Course Name, Semester No, Class Level Supervisor Name February 10, 2010 ANSWER KEY BE4-12 At October 31, Nathan Company made an accrued expense adjusting entry of $1,400 for salaries. Prepare the reversing entry on November 1, and indicate the balances in Salaries Payable and Salaries Expense after posting the reversing entry. Nov. 1 Salaries Payable .............
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3 Adjusting the Accounts Chapter STUDY OBJECTIVES After studying this chapter, you should be able to: 1 Explain the time period assumption. 2 Explain the accrual basis of accounting. 3 Explain the reasons for adjusting entries. 4 Identify the major types of adjusting entries. 5 Prepare adjusting entries for deferrals. 6 Prepare adjusting entries for accruals. 7 Describe the nature and purpose of an adjusted trial balance. The Navigator ✓ The Navigator Scan Study Objectives Read Feature Story
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INTERNAL CONTROLS JANINE LEWIS XACC/280 DECEMBER 8, 2013 JOSE RODRIGUEZ INTERNAL CONTROLS Internal controls are methods that companies put in place to protect themselves from errors, internal fraud or corruption. The methods consist of review, checks and balances, and procedures that make sure a company’s business is being conducted orderly and efficiently. They also ensure that the policies and procedures that are put in place are being adhered to. Internal
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Wilson Roldan Week 7 Checkpoint PepsiCo. Appendix A: Current ratio for 2005: $10,454 (Current Assets) $ 9,406 (Current Liabilities) $10,454 divided by $9,406 is equaled to 1.11% Current ratio for 2004: $8,639 (Current Assets) $6,752 (Current Liabilities) $8,639 divided by $6,752 is equaled to 1.28% Vertical analysis for 2005: Current Assets divided by Total Assets 10,454 / 31,727 = .3294 or 32.9% Vertical analysis for 2004: Current Assets divided by Total Assets 8,639 / 27,987
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Question 1: The constant head tank preserves the volume by allowing the water in the reservoir to overflow into the discharge tank, when the water flow is kept constant. This ensures to that the flow is constant. The effects of small changes in fluid level and volume when overflowing are considered negligible. This constant volume tank represents a pressurized hydraulic reservoir, with constant pressure, making the manometer fluid levels constant and accurate during the readings. If the water levels
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Checkpoint: Ratio, Vertical, and Horizontal Analysis The current ratio shows the percentage of liabilities there is compared to the assets. It is the total current assets divided by the total current liabilities. The vertical analysis is the current assets divided by the total assets for that year. The result is shown in percentage. The horizontal analysis is the change in assets. The current assets of one year divided by another year will show the increase or decrease in assets for those
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There are four basic assumptions in financial accounting. The first is the monetary unit assumption which states that a company can only report transaction information in financial records that can be expressed in a monetary amount. The next assumption is the economic entity assumption. This assumption states that the company’s financial information and activities need to be recorded separate from the owners and other entities. Next, the time period assumption tells companies to divide the economic
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Internal Controls xxxxxx Accounting 280 April 8, 2012 xxxxxxxx Internal controls ensure that all public companies follow a standard set of rules to operate and report finances in business. It is required by law to monitor the different models of internal controls. According to Renee O'Farrell (2012), "'internal controls' can be defined as actions and procedures by which a company monitors itself". The two primary goals of internal controls are to safeguard assets from theft and unauthorized
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