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Evaluating Internal Controls
We generally only hear of scandal and material control weakness impacting public companies through our traditional media outlets. Evaluation of internal controls is just as important in privately held companies and small businesses. Research internal controls using online library resources, and the Internet. Respond to the following:
• Explain how the understanding of internal control for a public company differs from that for a private entity in accordance with Generally Accepted Auditing Standards, (GAAS).
• Find an article or a news story that discusses a fraud involving a weakness in control in a nonpublic company or small business. Give complete citation for the article. Summarize the article and discuss the weakness in control you believe led to the scandal or fraud.
• The Sarbanes-Oxley Act is the major act created as a response to failures such as Enron and it regulates many aspects of a company and its controls. Depending on whether your selected example occurred before or after SOX, discuss whether the act could have or did detect the fraud.
Suppose the same set of facts for Stacy Corporation as in Problem 10-2 except that market rate of interest of January 1, 2008, is 8 percent & proceeds from bond issuance equal $10,803.
Computation of the present value of each project using annual compounding rate - Evaluate the present value of each project using annual compounding, and report on the relative values and the difference between the two.
computation of cost of goods sold from given data.jasper company projects sales of 230000 in may 255000 in june 270000
Explain why the present value of a stream of cash flow and assets associated there with, fluctuate in value with the level of interest rates in the bond markets.
What is the correlation between the variables and sales and which variable appears to have the strongest relationship with sales? Why do you suggest this variable?
Is the process "capable: of producing components that meet specification? What fraction of components will fall outside of specification? What can management do to improve this fraction?
a firm with a 14 wacc is evaluating two projects for this years capital budget. after-tax cash flows including
Martin Software has 9.2 percent coupon bonds on the market with 18 years to maturity. The bonds make semiannual payments and currently sell for 106.8 percent of par. What is the current yield on the bonds? The YTM? The effective annual yield?
in the early 1990s cranston dispensers inc. was quick to realize that concern for the environment would cause many
One financial analyst commented: "P/E ratio of SOUAET shares is 20, based on the current share price. After the bonus issue the share price should fall to 10 yuan, with the result that the P/E ratio should fall to 10.
Categorize each ratio as leverage, liquidity, activity or profitability ratio. Discuss you results about each ratio of both companies. Present graphically and in tabular form the Market price analysis of both companies.
you will need to choose a company that has been listed on the toronto stock exchange for at least the last 5 years is
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