Reference no: EM132477936
Assignment - Answer one of the following questions:
Describe the need for a petty cash fund. How does the fund work and why is it needed? What are some controls that should be placed on the petty cash fund?
What is the purpose of the bank reconciliation. What are the operational benefits and the control benefits? Do some research to find a fraud cash that was caught through bank reconciliation.
If you have worked in a financial institution or a retail establishment discuss where you worked and your position. Then list at least 5 internal controls that the company imposed on its employees. Discuss each one and why that control was put in place.
Ethics: Barbara's Brownies produces different varieties of brownies that she sells to grocery, candy, and gift shops. These sales are made with the terms FOB shipping point, and she generally ships the brownies on the same day that the order is received or on the next day if necessary. The company's fiscal year end is December 31. During the last week of December Barbara takes a look at her financial reports before deciding when to ship orders received that week. If sales and profits for the month and year have been good, she may delay shipments until early January. If sales and profits have been poor, she will deliver all that she can in December.
With terms of FOB shipping point, when does Barbara record a sale? If she ships in January and records the sale in January has she violated any accounting rules?
Do you think it is ethical for Barbara to delay shipments until the next year? Why or why not? Who may be harmed by that decision?
What impact will delaying the recording of sales until January have on her financial statements for December and January? Who may be harmed by that decision?
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What would be the tax ramifications
: Assuming that the fraud has been continuing for several years, what would be tax ramifications to the executives of not reporting earnings on their tax returns
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What is bad boys inc cost of capital
: If Bad Boys, Inc. raises capital using 45% debt, 5% preferred stock, and 50% common stock, what is Bad Boys, Inc.'s cost of capital?
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What are the impact of social policy
: Explain how policies affect social agencies and how social workers work with clients, such as Tessa or Luisa. What are The Impact of Social Policy
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Calculate the tax impact of disposing the equipment
: You purchase a piece of equipment for $440K at the beginning of the year (Jan 1, 2020). Calculate the tax impact of disposing the equipment on Jan 1, 2024
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How does the fund work and why is it needed
: Describe the need for a petty cash fund. How does the fund work and why is it needed? What are some controls that should be placed on the petty cash fund
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What interest rates does the bank offer on its cds determine
: Transaction Deposits or checking account; transaction account; Savings Deposits or savings account; Time deposits; Money Market Deposit Accounts
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Analyzing social problems and social policy
: Analyzing Social Problems and Social Policy. A description of the social problem you selected and any known causes or explanations for the problem
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Who are the stakeholders involved in the project
: Discuss the scope of your project and how it aligns with the goals of the organization. Who are the stakeholders involved in the project?
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Upper range of confidence interval
: A stock has monthly returns of 02.13%, -18.55% , -06.63%, and 32.24%. What is the stocks geometric average return?
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