Solution-Access the impact of time lags

Access the impact of time lags

Assignment Help Accounting Basics

Reference no: EM132450562

Discussion 1:

1. Evaluate the inherit risk of employee access to funds and other assets, indicating how internal controls can minimize the risk. Explain your rationale.

2. Imagine you are the audit partner in charge of the field audit. Make recommendations for verifying that all checks sent by the customers have been appropriately deposited and recorded in the general ledger.

Discussion 2:

1. Access the impact of time lags between realizing and recognizing economic events in the purchase and payroll systems, indicating how any negative effects may be minimized. Provide support for your rationale.

2. From the e-Activity, assess the impact of the emerging issues identified by the PCAOB and determine the types of controls that could be implemented to mitigate those identified risks. Support your position.

Reference no: EM132450562

Questions Cloud

Determine Machines Incs depreciation expense deductions : On February 4, 2016, Machines bought a new computer system for $5,100. Determine Machines, Inc.'s depreciation expense deductions for 2013 through 2016

Create an argument in agreement of the pcaob : Create an argument in agreement or disagreement that the creation of the PCAOB has been effective with improving the reliability of audited financial statement

Calculate sandhill net income as a percent of sales : Vertical analysis (common-size) percentages for Sandhill Co.'s sales revenue, cost of goods sold, Calculate Sandhill's net income as a percent of sales

Compare calculated mass of saturn to the actual value : You have learned that Kepler's third law, P2 = a3, applies to any object orbiting the Sun. Newton was able to derive Kepler's third law using his law of gravity

Access the impact of time lags : Evaluate the inherit risk of employee access to funds and other assets, indicating how internal controls can minimize the risk. Explain your rationale

Discuss greatest risk of failure for an erp system : Evaluate the pros and cons of implementing an ERP system using the "big bang" or "phased in" approach for a medium- to large-sized university

Calculate the distance from the center of the sun : Calculate the distance from the center of the Sun to the center of the Earth when the Earth is at perihelion (q) and aphelion (Q) of its orbit

What events could shift the demand and supply of that labor : How your chosen organization determines what quantity of labor to demand and what events could shift the demand and supply of that labor

Science of the stars paper-telescopes in astronomy : View the following interactive multimedia located in the Classroom:

User Account

All Pages

Access the impact of time lags

Reference no: EM132450562

Reference no: EM132450562

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

How much control does fed have over this longer real rate

Coures:- fundamental accounting principles

Accounting problems

Theory of interest - term structure of interest rates

Write a report on internal controls

Prepare the bank reconciliation for company

Cost-benefit analysis

Theory of interest

Liquidity and profitability

What is the expected risk premium on the portfolio

Simple interest and compound interest

Capm and venture capital

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT