Outline the audit approach that you would take with the networked personal computer based accounting software in this audit engagement. As part of this audit approach develop and justify the use of at least two CAATs that you would use in this audit.
You are the audit senior for the audit of Nirvana Produce Pty Ltd (NP), a large wholesale fruit and vegetable supplier. NP operates out of a warehouse and office near the fruit and vegetable markets and also sources product directly from organic growers. Your firm has recently been appointed as auditor of this business.
Discussions with George Bowles has revealed that George Bowles and Thomas Hayes started the business 30 years ago as equal partners. They later converted the partnership to a proprietary limited company, each owning 50% of the shares. When Thomas died last year, George’s brother Marcus and his sons, George Junior and Jason bought out 50% of Thomas’ share at a market value of $2m. Thomas’ widow, Anna, holds the remaining 25% of shares in the business. The company now wishes to buy back Anna’s 25% shareholding but needs to raise the funds for the buy back through a loan from their bank.
Key ratios include:
Ratio Unaudited 2016 Audited 2015 Industry Benchmark
Current ratio 1 1.89 1.8
Days in receivables 12 days 8 days 7 days
Inventory turnover 3 days 3 days 3 days
Debt to equity .50 .50 .20
Debt is in the form of a mortgage over the warehouse and offices. The total value of shareholders’ funds is relatively small as the past dividend policy has been to pay out 90% of after tax profits.
Additional information
NP uses basic accounting software which can import a bank statement but has no facility for generating a file of creditor payments to be uploaded into the NP bank account. The software, which comprises order/sales, purchases/creditors and payroll modules, is on a server that is accessed through a number of networked computers in the office. Passwords are required to access various modules and authorisation levels of the system.
There are two sales’ clerks who take phone and email orders and generate packing/buying slips through the sales order module of the accounting software. These slips are used by warehouse and buying staff to purchase produce on the following morning and pack the produce into boxes. The debtors’ clerk uses the completed packing/buying slips to generate invoices which are attached to the boxes to be collected by the purchaser or a courier later that morning.
Often when the customer arrives to collect their order they identify other produce that they want and take that with their order. These goods are then added to the original invoice in the system and the revised invoice is emailed to the customer. Payments on sales invoices are due within seven days of invoice date and are generally paid by electronic funds transfer (EFT). A brief review of debtors identified that there were a significant number of short payments on the invoices. The debtors’ clerk matches the EFT payments to the invoices and chases up outstanding payments.
George and his sons do the buying in the morning on the basis of the information on the buying slips. Purchases are often made in cash at the market and the details noted on slips of paper which are passed to the bookkeeper when all the purchasing for the day has been concluded. Purchases direct from contracted growers are paid for through EFT on receipt of the goods and the purchase invoice.
Warehouse staff agree the goods to the invoice and pass the signed purchase invoice to the bookkeeper. The bookkeeper maintains and reconciles the cash purchase float daily. The bookkeeper also maintains the creditors’ ledger, approves and makes payments to creditors and reconciles the bank account monthly.
Payments to creditors are made within 7 days of the date of the invoice through the bank’s online payment system and then entered into the accounting software. The invoice is then stamped as paid and the date of payment and the bookkeeper’s initials are entered on the invoice. A brief review of the creditors’ ledger revealed that there were a number of duplicate payments to creditors which were being resolved.
The payroll is completed by the bookkeeper on the basis of normal hours worked though George must authorise any holiday pay, paid sick leave and overtime. All holiday, sick pay and overtime authorisation is completed online.
Question 1 (6%)
Analyse the ratios in conjunction with the additional information and identify implications for the audit and any particular audit steps that need to be undertaken to reduce audit risk. For example, if there was a worsening inventory turnover, one of the audit steps would include a review for obsolete inventory. Ensure that you also identify any potential weaknesses in this ratio analysis and any additional information that you will need to make a judgement about the business risk facing the company.
Question 2 (10%)
Identify the strengths and weaknesses in the internal control system described above. For each control weakness, identify the financial report assertions that may not be met. Suggest a control to correct any of the deficiencies identified. Identify how this weakness will affect your audit, indicating the additional audit steps and audit evidence that you will need to collect to reduce audit risk.
Question 3 (4%)
Outline the audit approach that you would take with the networked personal computer based accounting software in this audit engagement. As part of this audit approach develop and justify the use of at least two CAATs that you would use in this audit.
Rationale
This assessment has been designed to assess your ability to:
• be able to demonstrate risk management methodologies and the role of internal controls in an audit context;
• be able to design an audit plan and select and apply appropriate audit procedures for a financial statement audit;
• be able to exercise critical and reflective judgment.
PLACE THIS ORDER OR A SIMILAR ORDER WITH BEST NURSING TUTORS TODAY AND GET AN AMAZING DISCOUNT
The post Outline the audit approach that you would take with the networked personal computer based accounting software in this audit engagement. As part of this audit approach develop and justify the use of at least two CAATs that you would use in this audit. appeared first on BEST NURSING TUTORS .
Do you need a similar assignment done for you from scratch? We have qualified writers to help you. We assure you an A+ quality paper that is free from plagiarism. Order now for an Amazing Discount!
Use Discount Code "Newclient" for a 15% Discount!
NB: We do not resell papers. Upon ordering, we do an original paper exclusively for you.
Assume the following information on the price of small screen televisions and quantity demanded:
/in Uncategorized /by JosephAssume the following information on the price of small screen televisions
Assume the following information on the price of small screen televisions
Assume the following information on the price of small screen televisions
PLACE THIS ORDER OR A SIMILAR ORDER WITH BEST NURSING TUTORS TODAY AND GET AN AMAZING DISCOUNT
The post Assume the following information on the price of small screen televisions and quantity demanded: appeared first on BEST NURSING TUTORS .
Do you need a similar assignment done for you from scratch? We have qualified writers to help you. We assure you an A+ quality paper that is free from plagiarism. Order now for an Amazing Discount!
Use Discount Code "Newclient" for a 15% Discount!
NB: We do not resell papers. Upon ordering, we do an original paper exclusively for you.
Supply chain management is instrumental as it pertains to marketing as marketing plays a key role in integrating supply chain processes
/in Uncategorized /by JosephSupply Chain Management
Supply chain management is instrumental as it pertains to marketing as marketing plays a key role in integrating supply chain processes and promoting collaboration between stakeholders. In this week’s discussion focus on the benefits of supply chain management, how does the implementation of supply chain management result in enhanced customer value?
To get you thinking about what happens when supply chain management is absent do some research around the global toy recall by Mattel in 2007. It was discovered that some toys manufactured in China contained toxic lead paint and a design flaw which caused a safety hazard, Mattel had to recall 20 million toys that had been distributed and sold around the world. a minimum of 150 words. If you use any source outside of your own thoughts, you should reference that source. Include solid grammar, punctuation, sentence structure, and spelling.
PLACE THIS ORDER OR A SIMILAR ORDER WITH BEST NURSING TUTORS TODAY AND GET AN AMAZING DISCOUNT
The post Supply chain management is instrumental as it pertains to marketing as marketing plays a key role in integrating supply chain processes appeared first on BEST NURSING TUTORS .
Do you need a similar assignment done for you from scratch? We have qualified writers to help you. We assure you an A+ quality paper that is free from plagiarism. Order now for an Amazing Discount!
Use Discount Code "Newclient" for a 15% Discount!
NB: We do not resell papers. Upon ordering, we do an original paper exclusively for you.
How long does it take the penny to reach the ground?
/in Uncategorized /by JosephA penny is dropped from the top of the Empire State Building in New York City. The building is approximately 360 m tall. Knowing that gravity accelerates the penny at a rate of 9.8 m/s2, with what velocity does the penny hit the ground( neglecting air resistance)? How long does it take the penny to reach the ground?
PLACE THIS ORDER OR A SIMILAR ORDER WITH BEST NURSING TUTORS TODAY AND GET AN AMAZING DISCOUNT
The post How long does it take the penny to reach the ground? appeared first on BEST NURSING TUTORS .
Do you need a similar assignment done for you from scratch? We have qualified writers to help you. We assure you an A+ quality paper that is free from plagiarism. Order now for an Amazing Discount!
Use Discount Code "Newclient" for a 15% Discount!
NB: We do not resell papers. Upon ordering, we do an original paper exclusively for you.
Explain how the physical situation can be achieved ?
/in Uncategorized /by JosephIn transient conduction sometimes the boundary is specified to be at constant temperature, when transferring heat. Explain how the physical situation can be achieved ? Equal sized spherical shots one of copper and the other of steel are heated in a furnace. Sketch on the same diagram, the variation of temperature with time in these cases.
PLACE THIS ORDER OR A SIMILAR ORDER WITH BEST NURSING TUTORS TODAY AND GET AN AMAZING DISCOUNT
The post Explain how the physical situation can be achieved ? appeared first on BEST NURSING TUTORS .
Do you need a similar assignment done for you from scratch? We have qualified writers to help you. We assure you an A+ quality paper that is free from plagiarism. Order now for an Amazing Discount!
Use Discount Code "Newclient" for a 15% Discount!
NB: We do not resell papers. Upon ordering, we do an original paper exclusively for you.
create your brochure using word processing software (such as MS Word), you must designate headings and subtitles, using good brochure practices
/in Uncategorized /by JosephFor this assignment, assume that you are the new Director of Human Resources for a mid-sized healthcare organization. Due to potential business growth and expansion, your organization is planning to hire a significant number of new employees. In anticipation of this major hiring drive, you want to create information resources that will help managers understand the importance of the recruitment and selection processes.
Instructions:
Create a 6-8 page brochure to serve as a learning aid for managers. Incorporate both text and images. While you may create your brochure using word processing software (such as MS Word), you must designate headings and subtitles, using good brochure practices. (Effective brochures divide information into easily readable sections.)
Include the following topics in the learning aid:
Explain why the recruitment and selection processes are vital in healthcare workforce planning.
Explain the importance of measuring key competencies and skills.
Describe an effective recruitment and selection process.
Include a minimum of five (5) references, three (3) of which are peer-reviewed sources. The CSU-Global Library is a good place to find these sources. Format your brochure according to the CSU-Global Guide to Writing and APA Requirements.
The post
For this assignment, assume that you are the new Director of Human Resources f appeared first on
PLACE THIS ORDER OR A SIMILAR ORDER WITH BEST NURSING TUTORS TODAY AND GET AN AMAZING DISCOUNT
The post create your brochure using word processing software (such as MS Word), you must designate headings and subtitles, using good brochure practices appeared first on BEST NURSING TUTORS .
Do you need a similar assignment done for you from scratch? We have qualified writers to help you. We assure you an A+ quality paper that is free from plagiarism. Order now for an Amazing Discount!
Use Discount Code "Newclient" for a 15% Discount!
NB: We do not resell papers. Upon ordering, we do an original paper exclusively for you.
Refer to scenarios and reading assignments from previous weeks to complete this assignment.
/in Uncategorized /by JosephBUS 521 Assignment 3: Business Plan Part III Business Initiative and Technology Paper
Due Week 9 and worth 160 points
Note: BUS 521 Assignment 3: Business Plan Part III Business Initiative and Technology Paper
Due Week 9 and worth 160 points
Note: Refer to scenarios and reading assignments from previous weeks to complete this assignment.
In Part III of your business plan you will consider how your new business initiative will affect operations in your company. You will also evaluate different technologies and introduce the type of technology that will help you make a more efficient and high quality product or service.
Write a four to five (4-5) page paper in which you:
Your assignment must follow these formatting requirements:
The specific course learning outcomes associated with this assignment are:
In Part III of your business plan you will consider how your new business initiative will affect operations in your company. You will also evaluate different technologies and introduce the type of technology that will help you make a more efficient and high quality product or service.
Write a four to five (4-5) page paper in which you:
Your assignment must follow these formatting requirements:
The specific course learning outcomes associated with this assignment are:
PLACE THIS ORDER OR A SIMILAR ORDER WITH BEST NURSING TUTORS TODAY AND GET AN AMAZING DISCOUNT
The post Refer to scenarios and reading assignments from previous weeks to complete this assignment. appeared first on BEST NURSING TUTORS .
Do you need a similar assignment done for you from scratch? We have qualified writers to help you. We assure you an A+ quality paper that is free from plagiarism. Order now for an Amazing Discount!
Use Discount Code "Newclient" for a 15% Discount!
NB: We do not resell papers. Upon ordering, we do an original paper exclusively for you.
After completing this week’s Practicum Experience, reflect on a patient
/in Uncategorized /by JosephAfter completing this week’s Practicum Experience, reflect on a patient with a known history of a musculoskeletal disorder. Describe the patient’s personal and medical history, drug therapy and treatments, and follow-up care. If you did not evaluate a patient with this background during the last 9 weeks, you may select a related case study from a reputable source or reflect on previous clinical experiences.
This Assignment is due by Day 7 of Week 11. You will submit this Week 9 Journal Entry along with the Week 8 and Week 10 Journal Entries, the Week 11 SOAP Note, and your Practicum Time Log on Day 7 of Week 11.
PLACE THIS ORDER OR A SIMILAR ORDER WITH BEST NURSING TUTORS TODAY AND GET AN AMAZING DISCOUNT
The post After completing this week’s Practicum Experience, reflect on a patient appeared first on BEST NURSING TUTORS .
Do you need a similar assignment done for you from scratch? We have qualified writers to help you. We assure you an A+ quality paper that is free from plagiarism. Order now for an Amazing Discount!
Use Discount Code "Newclient" for a 15% Discount!
NB: We do not resell papers. Upon ordering, we do an original paper exclusively for you.
Outline the audit approach that you would take with the networked personal computer based accounting software in this audit engagement. As part of this audit approach develop and justify the use of at least two CAATs that you would use in this audit.
/in Uncategorized /by JosephOutline the audit approach that you would take with the networked personal computer based accounting software in this audit engagement. As part of this audit approach develop and justify the use of at least two CAATs that you would use in this audit.
You are the audit senior for the audit of Nirvana Produce Pty Ltd (NP), a large wholesale fruit and vegetable supplier. NP operates out of a warehouse and office near the fruit and vegetable markets and also sources product directly from organic growers. Your firm has recently been appointed as auditor of this business.
Discussions with George Bowles has revealed that George Bowles and Thomas Hayes started the business 30 years ago as equal partners. They later converted the partnership to a proprietary limited company, each owning 50% of the shares. When Thomas died last year, George’s brother Marcus and his sons, George Junior and Jason bought out 50% of Thomas’ share at a market value of $2m. Thomas’ widow, Anna, holds the remaining 25% of shares in the business. The company now wishes to buy back Anna’s 25% shareholding but needs to raise the funds for the buy back through a loan from their bank.
Key ratios include:
Ratio Unaudited 2016 Audited 2015 Industry Benchmark
Current ratio 1 1.89 1.8
Days in receivables 12 days 8 days 7 days
Inventory turnover 3 days 3 days 3 days
Debt to equity .50 .50 .20
Debt is in the form of a mortgage over the warehouse and offices. The total value of shareholders’ funds is relatively small as the past dividend policy has been to pay out 90% of after tax profits.
Additional information
NP uses basic accounting software which can import a bank statement but has no facility for generating a file of creditor payments to be uploaded into the NP bank account. The software, which comprises order/sales, purchases/creditors and payroll modules, is on a server that is accessed through a number of networked computers in the office. Passwords are required to access various modules and authorisation levels of the system.
There are two sales’ clerks who take phone and email orders and generate packing/buying slips through the sales order module of the accounting software. These slips are used by warehouse and buying staff to purchase produce on the following morning and pack the produce into boxes. The debtors’ clerk uses the completed packing/buying slips to generate invoices which are attached to the boxes to be collected by the purchaser or a courier later that morning.
Often when the customer arrives to collect their order they identify other produce that they want and take that with their order. These goods are then added to the original invoice in the system and the revised invoice is emailed to the customer. Payments on sales invoices are due within seven days of invoice date and are generally paid by electronic funds transfer (EFT). A brief review of debtors identified that there were a significant number of short payments on the invoices. The debtors’ clerk matches the EFT payments to the invoices and chases up outstanding payments.
George and his sons do the buying in the morning on the basis of the information on the buying slips. Purchases are often made in cash at the market and the details noted on slips of paper which are passed to the bookkeeper when all the purchasing for the day has been concluded. Purchases direct from contracted growers are paid for through EFT on receipt of the goods and the purchase invoice.
Warehouse staff agree the goods to the invoice and pass the signed purchase invoice to the bookkeeper. The bookkeeper maintains and reconciles the cash purchase float daily. The bookkeeper also maintains the creditors’ ledger, approves and makes payments to creditors and reconciles the bank account monthly.
Payments to creditors are made within 7 days of the date of the invoice through the bank’s online payment system and then entered into the accounting software. The invoice is then stamped as paid and the date of payment and the bookkeeper’s initials are entered on the invoice. A brief review of the creditors’ ledger revealed that there were a number of duplicate payments to creditors which were being resolved.
The payroll is completed by the bookkeeper on the basis of normal hours worked though George must authorise any holiday pay, paid sick leave and overtime. All holiday, sick pay and overtime authorisation is completed online.
Question 1 (6%)
Analyse the ratios in conjunction with the additional information and identify implications for the audit and any particular audit steps that need to be undertaken to reduce audit risk. For example, if there was a worsening inventory turnover, one of the audit steps would include a review for obsolete inventory. Ensure that you also identify any potential weaknesses in this ratio analysis and any additional information that you will need to make a judgement about the business risk facing the company.
Question 2 (10%)
Identify the strengths and weaknesses in the internal control system described above. For each control weakness, identify the financial report assertions that may not be met. Suggest a control to correct any of the deficiencies identified. Identify how this weakness will affect your audit, indicating the additional audit steps and audit evidence that you will need to collect to reduce audit risk.
Question 3 (4%)
Outline the audit approach that you would take with the networked personal computer based accounting software in this audit engagement. As part of this audit approach develop and justify the use of at least two CAATs that you would use in this audit.
Rationale
This assessment has been designed to assess your ability to:
• be able to demonstrate risk management methodologies and the role of internal controls in an audit context;
• be able to design an audit plan and select and apply appropriate audit procedures for a financial statement audit;
• be able to exercise critical and reflective judgment.
PLACE THIS ORDER OR A SIMILAR ORDER WITH BEST NURSING TUTORS TODAY AND GET AN AMAZING DISCOUNT
The post Outline the audit approach that you would take with the networked personal computer based accounting software in this audit engagement. As part of this audit approach develop and justify the use of at least two CAATs that you would use in this audit. appeared first on BEST NURSING TUTORS .
Do you need a similar assignment done for you from scratch? We have qualified writers to help you. We assure you an A+ quality paper that is free from plagiarism. Order now for an Amazing Discount!
Use Discount Code "Newclient" for a 15% Discount!
NB: We do not resell papers. Upon ordering, we do an original paper exclusively for you.
Do you see any problem with offering a free cup of coffee as an incentive for filling out a comment card?
/in Uncategorized /by JosephSometimes a creative twist on standard marketing research
methods can improve their effectiveeness. This was certainly true
for Jason Belkin, owner of Hampton Coffee Company, with two
coffeehouse locations in New York and a mobile espresso van. At one
time, Belkin used a mystery shopper service (which hires
individuals to pose as real customers to evaluate a company’s true
service performance) to assess customer experiences, but he decided
to turn to comment cards for the information he wanted. He now
offers a free cup of coffee to customers who fill out a card. The
comment card asks a number of questions, which you can see at
http://hamptoncoffeecompany.com/assets/uploads/CommentCard-front.pdf.
Do you see any problem with offering a free cup of coffee as an
incentive for filling out a comment card? Would you suggest any
other options for encouraging customers to provide their
feedback?
PLACE THIS ORDER OR A SIMILAR ORDER WITH BEST NURSING TUTORS TODAY AND GET AN AMAZING DISCOUNT
The post Do you see any problem with offering a free cup of coffee as an incentive for filling out a comment card? appeared first on BEST NURSING TUTORS .
Do you need a similar assignment done for you from scratch? We have qualified writers to help you. We assure you an A+ quality paper that is free from plagiarism. Order now for an Amazing Discount!
Use Discount Code "Newclient" for a 15% Discount!
NB: We do not resell papers. Upon ordering, we do an original paper exclusively for you.
Describe your plan to implement good scope change control practices.
/in Uncategorized /by JosephYour past projects gave the client wide berth when it came to suggesting changes at any time they saw fit. Often they expressed an unbridled enthusiasm in making frequent changes, many of which were not well thought out. Times have changed, and you need to implement effective management control.Describe your plan to implement good scope change control practices. Describe the change control process you will implement. Where does this process apply to the five PMI process groups?
PLACE THIS ORDER OR A SIMILAR ORDER WITH BEST NURSING TUTORS TODAY AND GET AN AMAZING DISCOUNT
The post Describe your plan to implement good scope change control practices. appeared first on BEST NURSING TUTORS .
Do you need a similar assignment done for you from scratch? We have qualified writers to help you. We assure you an A+ quality paper that is free from plagiarism. Order now for an Amazing Discount!
Use Discount Code "Newclient" for a 15% Discount!
NB: We do not resell papers. Upon ordering, we do an original paper exclusively for you.