MEMO To: Client From: Accounting Firm Re: Lawsuit Pending lawsuits against a company are both expensive and detrimental to a company’s image. The decision to understand the implications of a lawsuit to the company is the first step in minimizing risk and potential loss to the organization. Research was conducted based on the guidelines of the FASB to answer the client’s questions pertaining to the lawsuit. The memo provided to the client will answer the following questions: How are
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| Jax-on Co. | Memo To: | All Employees | From: | Matthew Deitrich CEO | Date: | February 2, 2014 | Re: | Financial Systems | Starting January 1, 2014 we here at Jax-on Co. have implemented a new accounting system for payroll. This includes using the CRC reimbursement system, and Concur expense reporting to accurately keep track of all mileage for full time employees and all expenses made while working for the company. Keeping track of expenses and mileage used by employees has been
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To: Manager From: Hunter, CPA Re: Deferred Taxes, Accounting Errors and Changes, Subsidiary As of May 14, 2012, this memorandum will provide thorough explanations the following questions: the methodology used to determine deferred taxes, the procedures for reporting accounting changes and error corrections, and the rationale behind establishing the subsidiary as a corporation. We will also discuss the professional responsibilities of a CPA, and the difference between a review and an audit.
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March 12, 2014 To: Bo Doddery From: Clayton Creech Subject: How to determine, you as the Owner of Fu Foods, your equity The Basic formula for determining owner’s equity To determine your owner’s equity, use the accounting formula of: Owner’s equity = Assets – liabilities I suggest to retrieve the balance sheet which provides an accurate picture of a corporation, sole proprietorship or a partnership assets, liabilities, and stockholders, sole owner or a partnership equity. Your assets
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cooling-off period. Third, KPMG allowed certain employees to own stocks in both the clients and affiliates. In response to SEC charges, KPMG agreed to pay $8.2 million without admitting or denying wrongdoing. The reporter concludes that the Public Company Accounting Oversight Board will investigate more on registered audit firms’ consulting business. Moreover, the SEC’s settlement with KPMG reminds firms the value of independence. This article reflects the materials in chapter 2 and chapter 3. In chapter 2
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| Deloitte & Touche LLC1 | Memo To: | Mary Stanford | From: | Ben Ji | Date: | September 26, 2012 | Re: | Goodwill Impairment Test | | | Galaxy Sports Inc. is a manufacturer of sports equipment. It is a public company with three reporting units: Fitness Equipment, Golf Equipment, and Hockey Equipment. During our audit, certain accounting treatments by Galaxy regarding goodwill impairment were found to possibly contradict with the Accounting Standard Codification. Based on my
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University of Phoenix ACC/561PR Prof Rafael Marrero Diaz November 26, 2014 Accounting Laws Memo To: Rafael Rodriguez From Carlos Carrion Pastrana – Business Consultant Re: Process and Laws that apply in Puerto Rico to establish a business corporation. It is a pleasure to help and guide you through the process of regulations and steps in establishing a community pharmacy in Puerto Rico. This type of business is very regulated and includes both state and federal laws. -The
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edu Assignment 1-2 Accounting Software Memo Resource: September 2003 article “A Strategy for Finding the Right Accounting Software” by Randolph P. Johnston located at the website for the Journal of Accountancy. Read the following memo: Your department’s accounting software is extremely outdated and you have included the purchase of new software in this year’s fiscal budget. You have decided it is time to start looking into purchasing your company’s accounting software and have chosen someone
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Accounting Memo TO: EXECUTIVE VICE PRESIDENT FROM: AYLIN RODRIGUEZ, ACCOUNTANT SUBJECT: SALES REPORT DATE: 8/10/2012 EXECUTIVE VICE PRESIDENT, The following is to request a meeting with you to discuss the sales report for the company. In the last three months we have lost 5% of our clients and, we have not received any new accounts at the moment. This can be an issue that with time and effort can be resolved. I would like to give you some ideas that will help to increase our sales and
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regarding several key financial and accounting principles. There will be all hands training meeting on May 25 @ 1100 local time, expected to last until 1300 and will be held at the Denver Embassy Suites conference room. The hotel will provide the video conference need for the offsite employees who will not be able to attend in person. This training meeting will provide the employees the necessary knowledge and understanding of these key financial and accounting principles. That is associated with
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