THE SHIPPING INDUSTRY ACCOUNTING TEAM Summary: Sarah (the name given by us) has been working in McKay, Sanderson, and Smith Associates a mid-sized accounting team located in Boston that is specialized in commercial accounting and audits for past five years. Her specialty is accounting practices for shipping companies, ranging from small to certain big fleets along east coast. About two months ago her company merged with another two other accounting firms which has offices in Miami, Seattle, Baton
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1. The audit risk model consists of four parts. These parts are planned detection risk, inherent risk, control risk and acceptable audit risk. Planned Detection Risk- the risk that the audit evidence will fail to detect material misstatements which exceed a tolerable amount. This specific part of the audit risk model consists of the other three and will only change if one of the other three changes. This determines the amount of evidence the auditor plans to gather. Inherent Risk-The auditor’s
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The System Design Project ACG3401 – Spring 2013 You have been assigned to a team that is responsible for the complete design of an accounting information subsystem to support the business cycle (e.g. revenue, expenditure, production, human resource management and payroll, or financial reporting system) assigned to your team by the professor for a hypothetical company of your choice. Points will be awarded for a presentation to the class as well as a final report that will include a business
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business processes include: * selling to retailers * customer relationship management * supplier relationship management, * order processing (a.k.a. fulfillment) * people management * financial management As you read the case study, look for references to the information systems that enable these processes. Also see the IT Checklist in the Start Here folder of this course’s Blackboard site for a more
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Riordan Service Request SR-rm-012 Carolyn Powers, Narada Culpepper, Delores Stevens, Mohamed Desouky, Steven Boettcher, Gregory Ganfi BSA 310 Business Systems Due January 25, 2010 University of Phoenix Riordan Manufacturing Systems Service Request SR-M-012 History and Background of Riordan Manufacturing Riordan Manufacturing Inc. began with Dr. Riordan who was a chemistry professor. Dr. Riordan received approval for a few patents that had something to do with processing polymers
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in-depth analysis of several areas including Human Resources, Marketing, Accounting, and Operations. The business need that will be furthered researched within this discussion will be in regards to Operations Inventory Control. According to the virtual organization portal, Riordan Manufacturing has five hundred-fifty employees and indicated there is a projection of $46 million annual earnings. “Riordan Manufacturing, Inc. is an industry leader in the field of plastic injection molding. With state-of-the
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security of all data transferred. The most crucial change is to verify that all the new hardware being used is compatible with the inventory database. Riordan Manufacturing, Inc. Information Systems Analysis Riordan Manufacturing, Inc. is an industry leader in the manufacturing of polymer plastics. The company began as a research and development (R&D) company, which created innovative patents, but later expanded to plastic beverage containers and fan production. The information systems vary
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audit of Smackey due to the SEC’s influence in setting generally accepted accounting principles (“GAAP”), the required disclosures for financial statements and any major changes proposed by the Financial Accounting Standards Board (“FASB”). Nonetheless, during the audit of Smackey, Keller CPA is subject the six generally accepted auditing standards established by the Auditing Standards Board (“ASB”) under the Accounting Institute of Certified Public Accountants (“AICPA”) which includes the ten
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P1 Describe the recruitment documentation used in a selected business If East ham shipping decides on hiring employees they have to initially advertise this vacancy. There can be a number of ways to advertise this vacancy out of the many a few may be newspaper, posters, website, web adverts and existing employees. Hypothetically if we say the vacancy is for a cashier in that case the recruitment process would be a lot quicker. The advert should state the job description and should specify the duties
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not have over 500 stockholders; which are the requirements for public and privately held companies. The SEC does have indirect influence over the audit because all companies, whether public or private are required to comply with General Accepted Accounting Principles (GAAP) and the SEC plays a significant role in influencing these standards. The auditors, while not bound by SEC rules they are required to obey specific audit rules and guidelines as outlined under the the American Institute of Certified
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