User Account

All Pages

You have been asked to educate the accounting department

Assignment Help Other Subject
Reference no: EM13460715

You are an accountant at a local CPA firm that is auditing the accounting records of ABC Company. You have been asked to educate the accounting department about the limitations of the internal control system in preparation for an upcoming audit. During your audit, you have identified that because of a weak internal control system, an adjusting entry for prepaid insurance was not recorded for the first 3 months of the year at $500 per month.

  • Identify the limitations of the internal control system. Provide at least 3 limitations.
  • Provide at least 2 examples of internal control procedures, and explain how these procedures can be implemented.
  • Identify symptoms of a lack of internal control.
  • Explain the impact of the missing journal entry on the financial statements of the company.

Reference no: EM13460715

Questions Cloud

Train engine has a mass of 21 x 107 and is moving acrossed : train engine has a mass of 2.1 x 107 and is moving acrossed a bridge at 23.9 miles per hour what is the kinetic
The exchange rate turned out to be 110 yen per dollar at : japan life insurance company invested 10000000 in pure-discount u.s. bonds in may 1995 when the exchange rate was 80
Explain how decisions are made in your workgroup which : discuss how decisions are made in your workgroup. which model is used for what situation? be sure to provide specific
A diagnosis of mental illness is most formidable obstacle : since the beginning of the movie age from the cabinet if dr. caligari to terminator 2 from silence of the lambs to a
You have been asked to educate the accounting department : you are an accountant at a local cpa firm that is auditing the accounting records of abc company. you have been asked
An object weighs 30 n how would you explain this statement : an object weighs 30 n. how would you explain this statement according to what you know about mass and acceleration due
Silber received ff4 as a cash dividend instantly before the : mr. james k. silber an avid international investor just sold a share of rhone-poulenc a french firm for ff50. the share
Using the 8 elements of reasoning that were outlined in : elements of reasoning and intellectual standards using the 8 elements of reasoning that were outlined in week 2 purpose
Suppose a 299-kg child sits 127 m to the left of center on : suppose a 29.9-kg child sits 1.27 m to the left of center on the same seesaw as the problem you just solved in the

Reviews

Write a Review

Other Subject Questions & Answers

  Do you typically use more intuitive or analytical thought

Do you typically use more intuitive or analytical thought? When and in what situations? Give a couple examples. Discuss adolescent egocentricism, and give 3 examples of egocentric fantasies or fables of adolescents. Can you remember your own experien..

  Tripartite theory of knowledge

Present and explain the Tripartite Theory of Knowledge and how it is related to conceptual analysis. Use the steps of the Tripartie Theory and apply them to a philosophical subject.

  Define risk management-components of risk management

Define risk management, the components of a risk management program, and how the risk management process can reduce organizational risk. Examine the roles and responsibilities of a risk manager as well as those of the clinical delivery team, includin..

  Progressives believed

Progressives believed that

  Psychological methods and psychological skills

Discuss Vealey's distinction between psychological methods and psychological skills. What are the different categories of psychological skills?

  Describing agricultural revolution

Explain and examine how the Medieval World laid the foundations for advances in modern science and technology. What was the Industrial Revolution? Describe and analyze the social, economic and political changes and its significance to society as a ..

  Larger society in the dominion era

What social systems connected individuals with the larger society in the Dominion era (1490-1750)?

  Respondto a classmate who described a different tool than

1.post your response to the following imagine you are the manager of a wireless lan and your boss has asked you to

  Industrial security operation

What do you believe are the major components of any industrial security operation? How would it fit into the organization’s overall security plan?

  What are key sources of conflict in the organizational

what are key sources of conflict in the organizational setting? what are the key impediments to efficiently resolving

  Relate to employees’ motivation-productivity-satisfaction

How do compensation systems relate to employees’ motivation, productivity, and satisfaction?

  Thoughts in opinions on both theories

Personal thoughts in opinions on both theories and which would you support one overthe other.

Free Assignment Quote

Assured A++ Grade

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd