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The focus is on the concept of red flags and how we detect these inside a corporation. This is important, as the internal controls mechanism should define a specific approach for monitoring financial statements (and the base transactions below the consolidated statements) on an ongoing basis.
Address the following situation:
You are the controller of a global business unit of a major corporation. This business unit is comprised of 15 manufacturing plants globally, which roll up into consolidated business unit financials for which you are responsible. As a result, you are tasked with monitoring the financial results of the entire business unit, which entails ensuring that there are no fraudulent activities rolling up through your financial statements.
How would you design your monitoring system to handle this responsibility?
What specific steps would you put in place to manage the global financial statements?
If you did notice potentially questionable activity in one of your plants, how would you react? What would you do to investigate and address the issue?
What is the amount of its net credit sales for the period? What is the average collection period in days?
q1. a minister receives an annual salary of 16000 in addition to the use of a church parsonage with an annual rental
What method yields the highest depreciation expense for 2013 and what method yields the most depreciation over the four-year life of the equipment?
Inc. has finished a new video game, Snowboard Challenge. Management is now considering its marketing strategies and Which strategy is best: Do nothing and follow the advise of Mark Hobson
What is the change in annual operating income from discontinuing the talking dog product line?
Would it be possible for calcor company to achieve the first two of Kuhn’s goals without achieving his third goal of a 30% return on average assets before interest and taxes? Explain
For Turgo Company, variable costs are 63% of sales, and fixed costs are $185,500. Management’s net income goal is $58,071. Compute the required sales in dollars needed to achieve management’s target net income of $58,071.
Based on your response, do you think investors want fraud investigators brought into the company? Illustrate what about potential future investors? Why?
selection of a machine through irr.the following machines are mutually exclusive.you may select only one.nbspmachine a
Susan generated $55,000 of net earnings from the conduct of a tax preparation business that she operated during the tax-filing season. She also received wages of $66,800 from her full-time job. Compute the self-employment taxes due for 2014
Purpose the journal entry on Partner's books for the acquisition of Sizemic Corporation's net assets.
Operating profit is analysed before taxation as CGD has no control over group tax planning and estimates that its allocated overheads will drop by 80% the introduction of the owner driver scheme.
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