Identify the major transactions processed

Assignment Help Financial Accounting
Reference no: EM13887058

With your instructor's consent, select a place where you have worked or an organization in which you have some acquaintance (relative or friend), and therefore have access. Choose one area of operations (cash receipts, sales, shipping, receiving, or payroll) for review. For the area selected:

a. Identify the major transactions processed.

b. Select a representative transaction and perform a walkthrough of the application to gain an understanding of processing and controls implemented to mitigate the risks of misstatements.

c. Document the important controls identified during the walkthrough.

d. Identify control procedures you would recommend to improve the organization's internal controls.

Reference no: EM13887058

Questions Cloud

Locate the line of neutral points : A long straight horizontal cable carries a current of 2.5 A in the direction 10° south of west to 10° north of east. The magnetic meridian of the place happens to be 10° west of the geographic meridian. The earth's magnetic field at the location i..
Genetically engineered a species of fish : GloFish, Inc. has genetically engineered a species of fish that glows in normal lighting conditions.
Identify where the major transportation modes are used : Identify where the major transportation modes are used in the EESC from SLP3: rail, inland water, ocean steamer, and/or OTR.
Create a relational database using ms access : Create a relational database using MS Access
Identify the major transactions processed : Identify the major transactions processed. Select a representative transaction and perform a walkthrough of the application to gain an understanding of processing and controls implemented to mitigate the risks of misstatements.
How could a manager use the findings and conclusions : Do a comparison of how the three examples of management research provided could each inform management decision-making and how are the three examples similar or different in their approach to the problem studied?
Musical characteristics of the music : Musical characteristics of the music and the visual aspect of the art. In your opinion, how programmatic is the music? In what ways does the music convey (or not convey) the artwork's mood and/ or visual element? Address any other issues you feel ..
Describe nature of the accounting judgment made by company : Describe the nature of the accounting judgment made by the company regarding the residual value of the cars it leases. How would those judgments affect the auditor's assessment of the control environment?
What is the magnitude of the other field : A magnetic dipole is under the influence of two magnetic fields. The angle between the field directions is 60º, and one of the fields has a magnitude of 1.2 × 10 -2 T. If the dipole comes to stable equilibrium at an angle of 15º with this field, wh..

Reviews

Write a Review

Financial Accounting Questions & Answers

  Self employed individual-pays state income tax payments

Brian had a tax overpayment of $500 on his 2013 state income tax return and applied this to his 2014 state income taxes. What is the amount of Brian's state income tax itemized deduction for his 2014 Federal income tax return?

  Income statement-balance sheet and statement of cash flow

Chapman Company issued $400,000 of 20 year, 6 percent bonds on January 1, 2013. The bonds were issued at face value. Interest is payable in cash on December 31 of each year. Chapman immediately invested the proceeds from the bond issue in land.Prepar..

  Ethicseugene wright is cfo of caribbean cruise lines the

ethicseugene wright is cfo of caribbean cruise lines. the company designs and manufactures luxury boats. its near

  Disclosed raw materials used in production

Carolina Plating Company reported a cost of goods manufactured of $520,000, with the firm's yearend balance sheet revealing work in process and finished goods of $70,000 and $134,000, respectively. If supplemental information disclosed raw materials ..

  Question northern food processors nfp gives mango-banana

question northern food processors nfp gives mango-banana fruit juice. all materials are considered direct costs

  Shoppe charges tourists to use their credit cards purchase

Rachel's Beach Shoppe charges tourists to use their credit cards to purchase merchandise at the vacation store. On Monday, Rachel sold $2,500 in merchandise to tourists that used their credit cards to purchase beachwear at the store.

  What the net income would have been in the second year

Second year net sales $684,000 wrote off $10,800 of accts. as uncollectible ussing the direct write off method and reported net income of $68,300. What the net income would have been in the second year if the allowance method [using 2.5% of net sales..

  Compute the margin of safety in dollars

Compute the following (a) the margin of safety in dollars and (b) the margin of safety ratio.

  Prepare circuit citys statement of cash flows

Prepare Circuit Citys statement of cash flows for the year ending May 30, 2001.

  How will total dividend be divided between common stock

The company declares a total dividend of $ 200,000. If the dividends on preferred stock are one year in arrears ( in addition to the current year), how will total dividend be divided between the common and preferred stock?

  Theory question based on revenue recognition

Theory question based on revenue recognition - What factors does the standard discuss that may impair the ability to make a reasonable estimate of returns?

  Businesses are faced with fixed costs

People often say that, more and more, businesses are faced with fixed costs. What evidence can you find for this? Cite a clear example (not directly from the textbook) of a cost that is becoming more fixed than it has been in the past, and give reaso..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd