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
Simons Corp has unadjusted net income from continuing operations before tax of $168,000 before the following items were entered in the accounting records in 2013: 1. Unrealized
Uncertainty concerning the business It has been recognised in a variety of studies that the problem of adequately financing SMEs is a problem of uncertainty. A defining feature
im doing compound interest my calculator doest have anxy butyx cant do nothing with the ten being the power of .9
limitations of the balance sheet
You are considering whether or not to go to graduate school. Well... there are many things to consider, of course, such as the type of job you would thus get, the opportunity to li
Consequences of adjudication The consequences of the making of the adjudication order are: 1. The order must be advertised in the gazette and a local paper; 2. The ownershi
Focus Company issued a $30,000, 20 year bond with a stated interest rate of 7%. Assume interest payments are made annually. What is the selling price of the bond if the market ra
MUTUAL DEALINGS A right of set-off is allowed where there have been - (a) Mutual credits, debts or other dealings resulting in pecuniary liabilities, (b) Between the debtor an
Trustees right to be indemnified Trustees have, however, a right to be indemnified: 1. Out of trust property, for all expenses properly incurred in the execution of the tru
Aristo Ltd uses a system of absorption costing. The product passes through a machining department and an assembly department before it is completed. The assembly department is labo
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