The weaknesses in internal control over cash disbursements at Idaho Company are; 1. Checks are not pre-numbered, 2. More than one person is authorized to issue checks, 3. Unissued checks are not locked in a safe or locked cabinet. My recommendations to improve company procedures for internal control over cash disbursements are; there should only be one specified individual such as a treasurer authorized to sign checks. There should never be two people authorized for check signing. Make sure
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factor influences managerial decisions, using the calculation to support the decision. The analysis further recommends how the company can improve its profitability to deliver more value to its stakeholder, giving a brief plan to implement the recommendations. Finally, the research assesses the circumstances in which the company should discontinue operations and how management should react when confronted with these circumstances, including a rational behind the response. Fictitious Business Description
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1. What internal control procedures would you recommend to remedy the control deficiencies related to tuition receipt and refund procedures? Firstly, I would recommend actions geared towards safeguarding the college’s assets, as well designed internal controls protect assets from accidental loss or loss from fraud (especially as it regards to the acquisition of tuition receipts and the ensuing disbursement of funds). Secondly, the reliability and integrity of financial
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Let first look at the definition of internal audits and external audits. Internal audit is a function that is performed by company employees; it is responsible for performing audits (both financial and non-financial) within a wide range of areas within a business, as directed by the annual audit plan. Internal audit look at key risks facing the business and what is being done to manage those risks effectively, to help the organization achieve its objectives. On the other hand External audit is an
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PepsiCo’s Diversification Strategy in 2008 PepsiCo. has some important internal strengths. First of all, there is a tight control on the different levels of the supply chain and this has led to great efficiency. Second, there is a huge international exposure, a wide range of products and financially speaking there are impressive revenues. Last but not least, the company has a clever management. As for the opportunities there are many: one example is the potential growth of markets (especially
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Competition Bikes, Inc. Competition Bikes, Inc. makes bicycles for professional and other highly accomplished riders who compete in bike races, biathlons, and triathlons. Sixty percent of all race winners have been victorious using a Competition Bikes, Inc. bicycle when at least ten percent of the entrants were also using a Competition Bikes, Inc. bicycle. This extraordinary success rate consistently is a topic of conversation among racers and this word of mouth advertising has been effective
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|[pic] |Course Syllaubus | | |School of Business | | |STR/581 Strategic Planning & Implementation | Copyright © 2011, 2010, 2009, 2008 by University
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LBJ Company: Internal Control Evaluation Accounting 504: Managerial Use & Analysis Case Study 2 Written by: 8/10/13 This evaluation is being presented as an assessment of the preparedness of the LJB Company to go public at a future date. By researching current regulations regarding publicly traded firms we hope to prepare for a smooth transition into the trading market. The Sarbanes-Oxley Act of 2002 (SOX) has established the following guidelines for publicly traded corporations
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Internal Control Case Study #2 Acct 504 Accounting and Finance Managerial Use Table Of Contents 1. New Internal Control requirements if company goes public (pg. 2) 2. Suggest what company is doing correct and why ink machine should not be purchased. Pg. 3 3. Internal control principle used 4. What are the wrong internal control methods being used and Principle that is being violated and recommendations on how to improve
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|Case study : 2 | |Internal Control Evaluation | |LJB Company | |
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