Tag: Accounting

ALL THE QUEENS HORSES ASSIGNMENT
Internal Controls and the Prevention of Fraud
Since understanding and implementing internal controls is important for all types of organizations, it is one
of this course’s Student Learning Outcomes. Many people are unaware of internal controls. And for many
that have heard the term ‘internal controls’ they don’t understand what they are and how critical they are in
preventing fraud. As a business professional your knowledge of internal controls will be an integral and
valued resource. Oftentimes you will need to explain internal controls to colleagues, supervisors, clients, etc.
This assignment will give you the opportunity to solidify and apply your knowledge of internal controls to an
actual fraud.
Is it possible for one person to steal over $53 million from a city with an annual budget of less than $10
million? Yes. The Rita Crundwell story provides a cautionary tale for why internal controls are important.
1. Read Chapter 6 in your textbook, specifically pages 245-250.
2. Watch the documentary film All the Queens Horses (about 1 hour and 10 minutes). The documentary’s
website lists ways to watch the film: https://www.allthequeenshorsesfilm.com/see-the-film. If you already
subscribe to one of the streaming options listed on the website you can watch for free, otherwise there is a
nominal fee. Alternatively, you can watch the documentary for free on tubitv.com.
3. The city council of a nearby municipality is aware of what happened in Dixon, Illinois. They want to ensure
that nothing similar happens in their town. However, none of the city council members have an accounting
background or expertise in internal controls or fraud. Therefore, they have hired you to prepare a formal
memorandum explaining:
• How the fraud in Dixon, Illinois was perpetrated.
• What components contribute to an increased risk of fraud occurring.
• All types of internal controls, why they are important, and how they work.
• What could have prevented the fraud in Dixon, Illinois.
• What internal controls would you recommend for municipalities to have in place.
When preparing your formal memorandum you should use complete sentences, proper grammar and
punctuation, and correct spelling. Plagiarism is prohibited. This link provides Steps to Avoid Plagiarism:
https://writingcenter.uagc.edu/steps-avoiding-plagiarism. Plagiarism will result in a grade of zero.
Below are some useful resources for preparing your formal memorandum:
• Introduction to Prewriting (Invention)
https://owl.purdue.edu/owl/general_writing/the_writing_process/prewriting/index.html
• Tone in Business Writing
https://owl.purdue.edu/owl/subject_specific_writing/professional_technical_writing/tone_in_business_
writing.html
• Parts of a Memo
https://owl.purdue.edu/owl/subject_specific_writing/professional_technical_writing/memos/parts_of_
a_memo.html

“One side effect of the audit implosion is an implosion of professional opinion. […] Professional opinions in the shadow of litigation, even at the level of internal accountability, become shallow, defensively negative and unhelpful.” (Power, 2000).
Drawing on examples from both the private and the public sector discussed in readings, illustrate and critically discuss the statement above in 2500 words

[November 21, 2022 09:39] 11/18/2022 11:44 Hello, I have adjustments. I tried to make an adjustments but it wasn’t letting me click send. I’ve looked at the word document but I’ve realised you’ve done it in a report from. It was meant to be done in an official letter form then the calculations in the appendix

11/21/2022 07:31 I’ve attached 1 new document, the document I attached You should use that as a guideline to answer the question/ do the calculations in the assignment. Please and thank you

[November 20, 2022 11:43] 11/20/2022 11:22 The writer did not use a reference from the accounting codification. The sample memo I have presented included those and I need the write to include a reference from the accounting codification with the proper notation (e.g. ASC 810-10). Use the reference to make the case why you think whether each of Logical Logistics’s vendor contracts contains an identified asset? and whether each contract conveys the right to control the use of the identified asset to the lessee. It should not take you long to make the proper corrections.

My order:
1- No theft, no match please.
2-You can find the instructions inside the document
3- Please write a paper in the document
4- Write a report on whatever you use to research and what you write in a different document because we will discuss it separately in class
Write at least 4 references using the APA style.
NB:
Please use simple language
Put the in-text quote in each.
Additions within the document.
Q2.Why is it important for companies to implement good internal control? What are the principles of internal control? Explain your answer.
Q3. A company wants to use the allowance method to account for bad debts. You are assigned to explain to the company the different ways it can use to estimate bad debts.

1) Federal Income Exam: Questions 1,5,8,10,25 I need help with (total of 5 multiple choice questions)
2) Federal Income HW: Schedule A worksheet (I will attach a fillable one)
2a) Schedule A fillable form
3) Cost Accounting HW6 Reflection: Write about the question I missed and recognize what went wrong. What I learned
4) Cooks Cost Accounting Shorts qs: Just 3 questions that need to be answer

Learning Outcomes
Discuss what is a joint process, and the difference between a by-product and a main product.
Explain how joint costs are allocated.
Discuss what factors are considered in choosing a joint cost allocation method.
Discuss how budgets contribute to the strategic management process.
Discuss what are flexible budgets, and how can they be used for sensitivity analysis.
10.2 Action Required:Watch the short video in the following link:

Joint Cost

Static and Flexible Budgets
10.3 Test your Knowledge (Question):
Discuss the concept of Joint Product and By-Product Costing. Difference between a by-product and a main product.
Explain the significance of budget for an organization. Discuss the role of budgets in the strategic management process.

10.4 Instructions: Answer the above questions to test your knowledge.
Post your answer on the discussion board using the discussion link below (Week10:Interactive learning Discussion)

The board is considering $5 billion. Take the most recent financial statements and prepare a set of projected financial statements based on the given assumptions. The CEO requests that you prepare a written report (including the financial statements) for her.
Generate a projected income statement based on the given scenario.
Analyze the impact on the income statement based on the given scenario.
Generate a projected statement of retained earnings based on the given scenario.
Analyze the impact on the statement of retained earnings based on the given scenario.
Generate a projected balance sheet based on the given scenario.
Analyze the impact on the balance sheet based on the given scenario.
Generate a projected cash flow statement based on the given scenario.
Analyze the impact on the cash flow statement based on the given scenario.

Lester Scholl’s administrative assistant calls you on Monday afternoon to set up a conference call between you and the chairman tomorrow morning to discuss the board’s reaction to your list and to discuss your next task. You call the number she gave you, and Lester joins the call shortly after.
“I’m pleased with your work,” he says. The board was impressed with your list of factors. Your ranking made sense because your explanations were well-written. I suspect they read everything you sent because it was concise and clear. Good job.”
“Thanks,” you say, and you feel relieved that your first assignment was well-received.
“Your list provided the basis for a good conversation about the manufacturing operations,” he says. “We want to know more about the economy of both countries to further inform our decision-making process.”
“That makes sense,” you say. “The United States and South Korea hold many distinct economic factors that may affect AutoEdge’s long-term financial performance.”
“Right,” he says. “Your research on the two economies will give the board enough information so we can advise the new, incoming CEO.”
“What should my research include?” you ask.
“In your research, you must take into consideration several macroeconomic factors,” he says. “We want to see information about the gross domestic product (GDP), unemployment, interest rates, and inflation for both the United States and South Korea. Make sure your research is current; that is, no more than 6 months old.”
“I’ll get started right away,” you say.
“Very good,” he says. “Let me know if you have any questions, and I’ll put you in touch with some of the other members of the board if I can’t provide the answers you need.”
“Great,” you say. “Thank you.”

PLEASE, MAKE SURE YOU ONLY BID IF YOU KNOW THIS TOPIC VERY WELL, and you are an Accounting expert and you know ”Accounting research”
No plagiarism; no match please . “use your own words”.
APA style reference for citing any quotes
Read all the instructions carefully and do as directed.
.
You should work on file (Assign. 2 ACCT403), but for one of the questions you will need some information from file name (Assign. 1 ACCT403)