Reference no: EM13486659
1. Today, many companies face budgetary challenges on a continual basis. Two critical aspects that businesses lack are effective control practices and monitoring. You have been asked by your manager of the Money Cares Investment Corporation, to outline problematic or risk areas in the company's financial procedures. Upon reviewing the budget, you notice that there is overspending in marketing supplies, transportation, and workshop items that include hospitality items such as food and drink for the customers. Each investment specialist is given a company credit card for the above expenses but there are no policies established for monitoring. Money Cares is a small business of 8 employees: CEO, Financier, a manager, 3 investment specialists, and 2 clerical assistants.
For this assignment you must identify possible risks for the Money Cares Investment Corporation. In establishing an investment company, you must answer the following
• What could go wrong?
o Identify at least 3 possible risks.
• What must happen in order for the company to succeed?
• What are the company's most vulnerable areas?
• Identify the company's assets
• Where is the most money spent?
• How should the budget activities be regulated?
• Identify some budgeting issues including format, and budget monitoring.
2. You are the newly hired accountant for The Gift Shop. The owner has just received the December 31, 2008 bank statement and has asked you to prepare the monthly bank reconciliation.
• Write the procedure documentation for the monthly bank reconciliation process in a professional manner.
o It will be the desktop guide used by others in the event of your absence to prepare the financial statements for The Gift Shop.
o It may be in the form of a memorandum or as a numbered listing of items, depending on your individual preference.
• Prepare the monthly bank reconciliation for The Gift Shop based on the information provided.
Additional information needed for bank reconciliation preparation follows:
• Cash per the unadjusted trial balance is $12,675.
• Cash balance per the bank statement is $12,780.
• Check #115 has not cleared the bank. It was written for $645.
• A deposit of $1,000 cleared the bank but was not recorded in the general ledger.
• A check for $250 was found in the owner's desk drawer.
• A deposit of $1,250 was taken to the bank after 2 p.m. on December 31, 2008 and was not posted by the bank until January 1, 2009.
|
Define the production of fluorine-containing compounds
: Carbonyl fluoride, COF2, is an important intermediate used in the production of fluorine-containing compounds. For instance, it is used to make the refrigerant carbon tetrafluoride
|
|
What was the mass of the block of ice
: A heat transfer of 9.1 ? 105 J is required to convert a block of ice at -13°C to water at 13°C. What was the mass of the block of ice
|
|
What is your estimate of stock bs price
: The current dividend is $1.50, its current price is $15.90. You are an analyst and believe that the required return on Stock B is the same as that on Stock A. If Stock B pays a constant dividend of $ 2, what is your estimate of Stock B's price?
|
|
Define the concentration of rm hconh_2 be at equilibrium
: Consider the reaction \rm CO(g) + NH_3(g) \rightleftharpoons HCONH_2(g),~~~~{\it K}_c=0.860 If a reaction vessel initially contains only \rm CO and \rm NH_3 at concentrations of 1.00 M and 2.00 M, respectively, what will the concentration of \rm H..
|
|
What are the company most vulnerable areas
: You are the newly hired accountant for The Gift Shop. The owner has just received the December 31, 2008 bank statement and has asked you to prepare the monthly bank reconciliation.
|
|
Find the general solution of the differential equation
: Find the general solution of the differential equation and write the differential equation as a system of three first order differential equations.
|
|
Explain the deposition of cu at the cathode
: Calculate the quantity indicated for each of the following electrolyses. Enter scientific notation as 1.23E4. (a) [Cu2+] remaining in 5.70E2 mL of a solution that was originally 0.412 M CuSO4, after passage of 3.50 A for 289 s and the deposition o..
|
|
How much gasoline spills out in this case
: Early in the morning, when the temperature is 5.0°C, gasoline is pumped into a car's 45 L steel gas tank until it is filled to the top. How much gasoline spills out in this case
|
|
Evaluate ecell for each of the following cells
: Use the Nernst equation and data from Appendix D to calculate Ecell for each of the following cells. Enter your answer with 3 significant digits. Enter scientific notation as 1.23E4.
|