Categories
ACCT 504 Case Study 2 (Williams Oil)
$10.00

ACCT 504 Case Study 2 (Williams Oil)

This Tutorial was purchased 3 times & rated A by student like you.

 

This Tutorial contains following Attachments

  • ACCT 504 Case Study 2 (Williams Oil).docx

Case study

(Learning Objectives 2, 4: Explain the components of internal control; evaluate internal controls) Each of the following situations reveals an internal control weakness:

Situation a. In evaluating the internal control over inventory for the Williams Oil Services Company, an auditor learns that the warehouse receiving clerk is responsible for ordering parts for supply inventory use in drilling services, counts the inventory when received at the dock, records the receipts into the inventory ledger, and takes the annual inventory, No supervisor reviews the receiving clerks work.

Situation b. Nicole Lopez handles employee travel and expense reports for Scott Sales Services. With the growth in the economy, the sales team began traveling extensively gaining new business. Because of the heavy volume, she no longer required the sales team to provide original airline, hotel, or car rental receipts. She told them to just keep their meals under the $100 per day per diem and no receipts were required. She allowed them to use their own credit cards so they could get the frequent flyer points. She required them to turn in a summary of the travel expenses quarterly.

Situation c. Michael Jordon is a new employee hired from Craigs List recommended by a co-worker. Mike was hired as a Human Resource Assistant. Mikes first day on the job he is told that he should follow his own judgments when deciding how employee issues such as hiring and firing of employees, sexual harassment, and ethical infractions should be handled.

Top of Form

? Requirements

1. Identify the missing internal control characteristic in each situation.

2. Identify each firms possible problem.

3. Propose a solution to the problem.

Write a review

Order Id


Order Id will be kept Confidential
Your Name:


Your Review:
Rating:   A   B   C   D   F  

Enter the code in the box below:



Related Tutorials
$13.00

This Tutorial was purchased 4 times & rated A by student like you.

ACCT 504 Week 7 Course Project JCP Kohls ..
$12.00

This Tutorial was purchased 4 times & rated A by student like you.

ACCT504 Case Study 3 on Cash Budgeting The cash budget was covered during Week 4 when we covered TCO D and you read Chapter 7. There is also a practice case study to work on. Your Professor will provide the solution to the practice case study at the end of Week 5. This case study should be up..
$12.00

This Tutorial was purchased 7 times & rated A by student like you.

ACCT 504 Week 5 Course Project Draft Spreadsheet ..
$13.00

This Tutorial was purchased 4 times & rated A+ by student like you.

Case Study 2 - Internal Control- Due by Sunday of week 5 LJB Company, a local distributor, has asked your accounting firm to evaluate their system of internal controls because they are planning to go public in the future. The President wants to be aware of any new regulations required of his ..
$12.00

This Tutorial was purchased 3 times & rated A by student like you.

The Entire Case Study is due Sunday at Midnight Mountain time at the end of Week 3. This Case Study is worth 100 points or 10% of your final course grade. This Case Study relates to TCO's D and E and Chapters 3 and 4. MAKE SURE TO COMPLETE ALL REQUIREMENTS WHICH ARE LISTED BELOW. There ar..
$25.00

This Tutorial was purchased 32 times & rated A+ by student like you.

1. (TCO A) Which one of the following is an advantage of corporations relative to partnerships and sole proprietorships? (Points : 5) Reduced legal liability for investors Harder to transfer ownership Lower taxes Most common form of organization 2. (TCO A) When a corporation dist..
$20.00

This Tutorial was purchased 5 times & rated A+ by student like you.

Week 1DQ 1 - Financial Reporting Environment and GAAP Week 1DQ 2 - Details of Financial Statements and Ratios Week 2DQ 1 - Accounting EquationAccounting Cycle Week 2DQ 2 - Accrual Accounting and Adjusting Entries Week 3DQ 1 - Merchandising Operations and Income Statements Week..
$64.00

This Tutorial was purchased 25 times & rated A+ by student like you.

ACCT 504 Week 1-7 All Discussion Questions   ACCT 504 Week 3 Case Study 1 Flower Landscaping Corporation   ACCT 504 Week 4 Midterm Exam Set 1   ACCT 504 Week 4 Midterm Set 2   ACCT 504 Week 4 Midterm Set 3   ACCT 504 Week 5 Case Stu..
$12.00

This Tutorial was purchased 8 times & rated A+ by student like you.

Course Project                        Financial Statement Analysis Project -- A Comparative Analysis of Oracle Corporation and Microsoft Corporation Here is the link for the financial statements for Oracle Corporation for the fis..
$10.00

This Tutorial was purchased 3 times & rated A by student like you.

Construct and use a cash budget) Nathan Farmer, chief financial officer of Wang Appliance Store, is responsible for the company?s budgeting process. Farmer?s staff is prepa..
$10.00

This Tutorial was purchased 3 times & rated A by student like you.

Case Study 1 (Part A) Analyze the impact of business transactions on accounts; record (journalize and post) transactions in the books; construct and use a trial balance)&..
$20.00

This Tutorial was purchased 25 times & rated A+ by student like you.

MAKE SURE TO COMPLETE ALL REQUIREMENTS WHICH ARE LISTED BELOW.             There are 10 sheets in the Workbook, including this one.      All of the information that you need for the project is lo..
$20.00

This Tutorial was purchased 61 times & rated A+ by student like you.

Course Project: A Financial Statement Analysis A Comparative Analysis of Nike, Inc. and Under Armour, Inc.   Below is the link for the financial statements for Nike, Inc. for the fiscal year ending 2014. First, select 2014using the drop-down arrow labeled Year, and then select An..
$8.00

This Tutorial was purchased 12 times & rated A by student like you.

Q -1 Other comprehensive income     A. includes extraordinary gains and losses.   B. affects earnings per share.   C. includes unrealized gains and losses on available-for-sale investments.   D. has no effect on inco..
$12.00

This Tutorial was purchased 7 times & rated A+ by student like you.

This Tutorial contains Excel Files which can be used to solve for any values (your Question may have different company name or values, but that can be solved using Excel file)     E2-17A  Dr Anna Grayson opened a medical practice specializing in physical therapy. Du..
$8.00

This Tutorial was purchased 12 times & rated A+ by student like you.

Q -1   Anderson Company had the following information in   20142014.   Accounts receivable 12/31/14. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  $14,000   Allowance for uncollectible account 12/31/14 (before adjus..
$25.00

This Tutorial was purchased 19 times & rated A+ by student like you.

This Tutorial contains 4 Set of Midterm Exam     1. Question : (TCOs A and E) Your friend, Ellen, has hired you to evaluate the following internal control procedures. Explain to your friend whether each of the numbered items below is an internal control strength or weakn..
$10.00

This Tutorial was purchased 7 times & rated A by student like you.

This Tutorial contains Excel Files which can be used to solve for any values (your Question may have different company name or values, but that can be solved using Excel file)     E 7-15A    Potvin Self Storage purchased land, paying $175,000 cash as a down..
$25.00

This Tutorial was purchased 8 times & rated A+ by student like you.

This Tutorial contains 2 Set of Final Exam       Question 1.1. (TCO D) Please describe the purpose of the Income Statement and the interrelationship between the income statement and the other major financial statements that we covered in this class. In your answer, ..
$12.00

This Tutorial was purchased 4 times & rated A by student like you.

This Tutorial contains Excel Files which can be used to solve for any values (your Question may have different company name or values, but that can be solved using Excel file)   E 1-17A CoffeeShop Doughnuts has current assets of $280 million; property, plant, and equipment of $43..
ACCT 504 © 2017 All Rights Reserved.Powered by:Ash Tutorial