Acc 556 Week 1 - 1028 Words

Internal Accountant’s Report to Management | |Accountant | Memo To: Management From: Internal Accountant Date: 10/8/2011 Re: Government Bid Occupational fraud is defined as the use of a person’s job for individual enrichment through the purposeful mishandling or misapplication of his or her employer’s capital or assets (Wells, 2005). Occupational fraud can have a serious impact with far-reaching consequences. In 2004 for the Association of Certified Fraud Examiners (ACFE) conducted a survey that provided 508 usable studies of fraud for a total of over $761 million†¦show more content†¦The final category is conflict of interest. A conflict of interest occurs when an employee has an undisclosed economic benefit in a situation. For example, maybe the employee has a family member who works for one of the companies bidding on a project. If the employee knows that the family member will benefit and does not disclose the information to his superior than that is a conflict of interest. To begin the review process there should be some knowledge of the processes and procedures in the accounti ng department. It may be a good idea to observe all of the procedures that go into creating the financial statements. Look for any weaknesses or questionable practices and create a list of questions. Then in the next phase the auditor can conduct interviews to get a better understanding of the accounting staff. Observations and interviews can set the groundwork and provide information into any nuances or potential fraud or abuse. Any material weaknesses found can be further explored. Another recommended method for completing a status review is to work back from the financial statements. Make sure that all balance sheet accounts are properly documented and choose a handful of transactions to verify. In verifying the transactions it is important to look at the original documentation for each transaction. It is important to ensure that all of the documentation is accurate and complete. If there are missingShow MoreRelatedAcc 556 Complete Discussion Acc556 Acc 556 Complete Cour se Week 1 to Week 112045 Words   |  9 PagesACC556 ACC 556 Complete Course Week 1 to Week 11 Download Answer here http://workbank247.com/q/acc556-acc-556-complete-course-week-1-to-week-11/12254 http://workbank247.com/q/acc556-acc-556-complete-course-week-1-to-week-11/12254 http://workbank247.com/q/acc556-acc-556-complete-course-week-1-to-week-11/12254 ACC 556 Complete Discussion ACC 556 Week 1 Discussion Financial Statements  Ã‚  Please respond to the following: * From the e-Activity, analyze Apple’s most recent financial statementsRead MoreEssay Acc 556 Week 9 Acc556 Week 914012 Words   |  57 PagesACC 556 Complete Course ACC556 Complete Course Click Link for the Answer: http://workbank247.com/q/acc-556-complete-course-acc556-complete-course/22176 http://workbank247.com/q/acc-556-complete-course-acc556-complete-course/22176 ACC 556 Week 1 Discussion Financial Statements  Ã‚  Please respond to the following: * From the e-Activity, analyze Apple’s most recent financial statements. Based on your analysis, predict whether Apple’s financial health will likely improve or deteriorate over the nextRead MoreAcc 556 Week 10 Acc556 Week 1013988 Words   |  56 PagesACC 556 Complete Course ACC556 Complete Course Click Link for the Answer: http://workbank247.com/q/acc-556-complete-course-acc556-complete-course/22176 http://workbank247.com/q/acc-556-complete-course-acc556-complete-course/22176 ACC 556 Week 1 Discussion Financial Statements  Ã‚  Please respond to the following: * From the e-Activity, analyze Apple’s most recent financial statements. Based on your analysis, predict whether Apple’s financial health will likely improve or deteriorate over the nextRead MoreAcc 5561986 Words   |  8 PagesSyllabus School of Business ACC/556 Version 5 Forensic Accounting Copyright  © 2012, 2011, 2009, 2008 by University of Phoenix. All rights reserved. Course Description In this course, students are introduced to the conduct of fraud examinations, including a discussion of specific procedures used in forensic accounting examinations and the reasoning behind these procedures. Topics include an overview of fraud and abuse, forensic evidence, substantive procedures for cash outflow irregularitiesRead MoreIncome Taxation Solutions Manual 1 300300 Words   |  1202 Pagescorporations assets are used for business purposes, the corporation qualifies as a small business corporation and a subsequent sale of shares would be entitled to the Buckwold and Kitunen, Canadian Income Taxation, 2012-2013 Ed. Solutions Manual Page C-1 Copyright  © 2013 McGraw-Hill Ryerson Ltd. capital gain deduction of $750,000. Although Court will be subject to further taxation when dividends are paid to him from the corporation, double taxation will not occur to the extent that income consists