Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
WILL SOMEONE PLEASE ASSIST ME WITH THIS ASSISGNMENTPreview Company, a diversified manufacturer, has five divisions that operate throughout the United States and Mexico. Preview has historically allowed its divisions to operate autonomously; corporate intervention occurred only when planned results were not obtained. Corporate management has high integrity, but the board of directors and audit committee are not very active. Preview has a policy of hiring competent people. The company has a code of conduct, but employee compensation packages depend highly on performance. Preview Company does not have an internal audit department and it relies on your firm to review the controls in each division.
Chip Harris is the general manager of the Fabricator Division. The fabricator Division produces a variety of standardized parts for small appliances. Harris has been the general manager for the last seven years and each year he has been able to improve the profitability of the Division. Much of the improvement in the profitability has come through aggressive cost cutting, including substantial price reductions in control activities over inventory
During last year, a new competitor has entered Fabricator's markets and has offered substantial price reductions in order to grab market share. Harry has responded to the competitor's actions by matching the price cuts in the hope of maintaining market share. Harry is very concerned because he cannot see any other areas where costs can be reduced so that the division's growth and profitability can be maintained. If profitability is not maintained, his salary and bonus will be reduced. Harris decided that one way to make the division more profitable is to manipulate inventory because it represents a large amount of the division's balance sheet. He also knows that controls over inventory are weak. He views this inventory manipulation as a short - run solution to the profit decline due to the competitor's price cutting. Harris is certain that once the competitor stops cutting prices or goes bankrupt, the misstatements in inventory can be corrected with little impact on the bottom line.REQIURED:A. A. Evaluate the strengths and weaknesses of preview Company's control environment
B. What factors in Preview company's control environment have led to and facilitated Harris‘s manipulation of inventory
Significant Findings or Issues - Substantive matters which are vital to procedures performed, conclusions reached or evidence obtained and include though aren't limited to: 1.
Carminho Building Products Ltd (an Australian company) is a client of Rodrigues Accounting (RA). Carminho Building Products Ltd (CBP) is involved in the development, manufacture a
For this problem we will be working with the Ericksen data set for describing the percentage of the population not counted in the US Census from 1980. In this data set we have diff
Purchases office supplies on account costing $12,600 during July. It pays $5,500 for these purchases during July and the remainder during August. Office supplies on hand on July 1
Consider a multinational listed company that has recently carried out an acquisition. You may also select a company that carried out an acquisition long ago as long as there is inf
Wendy is evaluating a capital budgeting project that should last for 4 years. The project requires $ 800,000 of equipment. She is unsure what depreciation method to use in her anal
Revaluations Partners rarely revalue their assets and any revaluations may be carried out when a new partner is being admitted or an old partner is retiring. To facilitate th
what is labour variance?
Occasionally cash flows may have to be discounted more often than once a year semi- monthly, daily, annually or quarterly. The outcome of this is as fold (i) The number of per
Cashflows from financing activities Financing activities are those activities that will lead to either an increase or decrease in shareholders funds and long-term liabilities.
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!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd