Category: Accounting

Jefferson Retailers’ losses

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Case 1 As an auditor, you have discovered the following pro-blems with the accounting system of Jefferson Retailers. For each of the following occurrences, tell which of the five internal control activities or procedures was lacking. Also, recommend how the company should change its procedures to avoid the problem in the future.

  1. Jefferson Retailers’ losses due to bad debts have increased dramatically over the past year. In or effort to increase sales, the managers of certain stores have allowed large credit sales to occur with out review or approval of the customers.
  2. An accountant hid his theft of $200 from the corn. pony’s bank account by overstating outstandir4 checks on monthly reconciliation. He believed the manipulation would not be discovered.
  3. Michael Meyer works in a storeroom. He maintains the inventory records, counts the inventory and has unlimited access to the storeroom. H: occasionally steals items of inventory and hide his thefts by overstating the physical inventor! records.
  4. Receiving reports are sometimes filled out day after shipments have arrived.

Additional revenue

Posted on | by Brian Leakey

SHORT CASES
Case I Clever, Inc., is a car manufacturer. Its 2015 income statement is as follows:
Clever, Inc. Income Statement for the Year Ended December 31, 2015
Sales revenue $20,000
Less cost of goods sold 10,000
Gross margin $10,000 Expenses 8,000
Net income $ 2,000
Alexander, Inc., is a car rental agency based in Florida. Its 2015 income statement is as follows:
Alexander, Inc. Income Statement for the Year Ended December 31, 2015
Sales revenue $20,000
Expenses 15,000
Net income 5,000
During 2015, both Clever, Inc., and Alexander, Inc., incurred a $1,000 fraud loss.

  1. How much additional revenue must each company generate to recover the losses from the fraud?
  2. Why are these amounts different? 3. Which company will probably have to generate less revenue to recover the losses?

What is fraud?

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  1. What is fraud?
  2. How does fraud affect individuals, consumers, and organizations?
  3. List and describe the five different types of frauds.
  4. What is the difference between civil and criminal laws?
  5. For each of the following, indicate whether it is a characteristic of a civil or a criminal case:
    a. Jury may consist of fewer than 12 jurors.
    b. Verdict must be unanimous.
    c. Multiple claims may be joined in one action.
    d. “Beyond a reasonable doubt.”
    e. Purpose is to right a public wrong.
    f. Purpose is to obtain remedy.
    g. Consequences of jail and/or fines. h. Juries may have a less-than-unanimous verdict.
  6. Why was Charles Ponzi so successful with his fraud scheme?
  7. What are some of the different types of fraud-fighting careers?
  8. How do employee fraud and management fraud differ?
  9. Do you think the demand for careers in fraud prevention and detection is increasing or decreasing? Why?
  10. Why are accurate fraud statistics hard to find?
  11. Describe the relationship between fraud, net income, profit margin, and the revenue required to make up for fraud losses.
  12. Why does it usually require trust for someone to be able to commit a fraud?
  13. In what ways is the Ponzi scam similar to other frauds?
  14. In your own words describe a CFE. 15. In your own words describe the purpose of the ACFE.

“Job Market Trends”

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Review the link on “Job Market Trends” at:
Employment Projections Home Page : U.S. Bureau of Labor Statistics (bls.gov)
In your discussion post address the following:
Find your current job (or similar job if you can’t find your specific job). Write the projected number, growth rate, and median pay. Were you previously aware of the job market trends?
Does knowing this information make a difference in the career path you are choosing? Why or why not?
https://www.bls.gov/emp/

Introduction to Quality Assurance

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With the consistently rising costs of health care services, utilization management and utilization review are routinely used in the vast majority of current health care settings. How are they evolving over time, and what is involved in these processes? What do health care managers need to be aware of as the processes play out?

In the absence of sweeping policy change (or the complete restructuring of the United States health care system), utilization management and utilization review are much more moderate processes to attempt to preserve the quality of care provided while controlling overall health care expenditures. Let’s learn a bit about each of these processes, and how they are implemented in our current health care environment.

Using the information in the required readings as well as some additional research in peer reviewed sources, complete your Case Assignment by answering the following:

  1. Compare and contrast utilization review and utilization management in health care. What are the similarities and the differences between each type of assessment? (Hint: One is generally a prospective process, and the other is generally a retrospective process). Baker, J. (2017, May 1). Improving quality of care through utilization management [Video]. https://youtu.be/g-T-YeP53nY
  2. Explain the specific role of each method in providing value-based health care. Who benefits from the method—the health care system, the insurance company, and/or the patient?
  3. Articulate how individual case management is critical to a hospital’s long-term survival. In what way does this practice protect your patients while keeping your doors open for business?
  4. What are the ethical pitfalls to be aware of in performing these types of quality reviews? What must health care managers be aware of in terms of ethical pitfalls and also potential unintended negative consequences?

Assignment Expectations

  1. Conduct additional research to gather sufficient information to support your analysis.
  2. Provide a response of 3-5 pages, not including title page and references.
  3. As we have multiple required items to be addressed herein, please use subheadings to show where you’re responding to each required item and to ensure that none are omitted.

Capital structure.

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Mary Francis has just returned to her office after attending preliminary discussions with investment bankers. Her last meeting regarding the intended capital structure of Apix went well, and she calls you into her office to discuss the next steps.

For this assignment, complete the following:

Describe capital structure.
Determine the WACC given the above assumptions.
Indicate how these might be useful to determine the feasibility of the capital project.
Recommend which is more appropriate to apply to project evaluation.
Define marginal cost of capital.

 

 

A key to tackling the talent war in the health sector is strategic planning for succession.

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A key to tackling the talent war in the health sector is strategic planning for succession. At any given time, a senior member of your team could resign or suffer an unexpected health emergency. The only way to move forward without major organizational disruption is through planning for such occurrences. In this assessment, you will gain experience benchmarking succession planning strategies based on current trends.

 

Assume your highest performing tenured manager of a 20-person department unexpectedly submitted her 2 weeks’ notice. Your next most tenured employee in the department has only 2 years of experience and is not ready to assume the position at this time. Additionally, there is a major health care organization in your area that seems to have the first pick when recruiting the talent you really need. The executive team for your organization has asked you to address this situation.

 

Read “Using the Performance Values Matrix Alongside a 9-Box Grid” from Performance Culture, Inc.

Using the 9-Box Grid Alongside the Performance-Values Matrix

 

Develop a 1,050- to 1,400-word strategic succession plan that addresses the following:

Priorities and steps to mitigate the impact of your employee’s rapid departure
A proposed recruitment plan to fill the managerial position
A preboarding checklist and onboarding plan covering an employee’s first 30, 90, and 180 days with performance metrics
Succession plan policies and practices that could be put in place to proactively avoid this situation
How the proposed plan aligns to current trends in the health care industry

Personal income taxes

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Personal income taxes are used to fund a variety of public programs. First, conduct research on what programs are funded by personal income taxes. Present one program you think is a good use of your income taxes and explain why. Next, present one program you do not think is a good use of your income taxes and explain why.

Anorexia Nervosa

Posted on | by Brian Leakey

Explain the neurology of this eating or feeding disorder (Anorexia Nervosa). Does the characterization of this eating or feeding disorder as a mental illness surprise you? What are your thoughts on the personal and/or cultural implications of classifying an eating or feeding disorder in this way, as opposed to a lifestyle choice or a matter of willpower? How might you support a family (or client) who is resistant to this seeing an eating or feeding disorder as a mental illness?
Describe changes in personality and social behavior that might be seen with this eating or feeding disorder. How would you assess for these changes?
Provide an overview of the health consequences and medical complications of this eating or feeding disorder.
Create a treatment plan for an individual diagnosed with this eating or feeding disorder using family-based therapy or other evidence-based therapy.

Ending inventory and cost of goods sold

Posted on | by Brian Leakey

Shown below is activity for one of the products of Denver Office Equipment:
January 1 balance, 500 units @ $55 per unit $27,500
Purchases:
January 10: 500 units @ $60 per unit
January 20: 1,000 units @ $63 per unit
Sales:
January 12: 800 units
January 28: 750 units
Required: (12 points)
Compute the January 31 ending inventory and cost of goods sold for January, assuming Denver uses LIFO and a perpetual inventory system.