If Jason underestimates the dollar amount of ending inventory, what effect will it have on net income for the current accounting period? 3. Write a short paragraph explaining why a physical inventory should be taken at least once a year. 4. In groups of three or four, make a list of possible reasons that the actual ending inventory might not agree with the ending inventory according to a computer system.
Also claiming that Ferry was on his personal time when the accident happen because it happened after he left a pawnshop before is afternoon run. The court denied Netties appeal because Ferry was what the court considered employed by Netties because he was required to follow certain standards and Nettie's gave him the list of deliveries he had to do. Also the accident happened while Ferry was in route to the shop for his afternoon run. The fact that he was leaving the pawnshop was irrelevant because he was on his way to Netties to do his daily duties. Since Ferry was considered employed and in route to Netties the court denied the appeal concluding that Nettie's either controlled or had the right to control the manner in which Ferry Performed the duties for which he was employed.
Establishment of Responsibilities: By assigning only one person for handling of the checks as well as the processing of them, it provides a dafeguard against theft or errors. When only one person open the mail, it is not sure about all incoming checks are forwarded to the cashier. Therefore, one person should prepare the list of checks so that can be compared with daily cash summary. It makes sure that all checks on the lisst were deposited. All mail receipts should be opened in the presence of two mail
(3) c. (1) d. (1) Problem 14-23 a. (4) b. (4) c. (2) Problem 15-11 Sampling risk is risk that auditor reaches incorrect conclusion because sample is not representative of the population. Sampling risk is an inherent part of sampling because not the whole population is tested. Sampling risk can be reduced by increasing sample size.
Record on daily cash and sales report. b. Remove the cash register tape. c. Reconcile the tape to the cash in the drawer, and investigate any differences. d. Remit the tape and the cash to central office.
Question B Discuss the advantages and disadvantages of Job Order Costing. Be sure to include specific examples of the advantages/disadvantages that you discuss. Week 3 Discussion Questions Question A What is the difference between operations costing and a process costing system? How does a company decide whether to use a job order or a process cost system? Question B How does the treatment of costs differ in ABC systems as opposed to traditional cost systems?
Government contractors often make mistakes on their invoices For instance, the financial person who processes the data is responsible processing the payment and has no way of knowing if the data is incorrect. The contracting officers should have this information and if they don’t’ have the proper information, the responsibility falls on the contracting officer. The clerical person responsible for processing payments doesn’t usually care whether the contractors get paid or not. Their goal is to process the paperwork
This will cause a lack of consistency in teaching from the management side and discipline of the employee in balancing both clients and management. Every district manager might not have the same goals for each salesman. District managers may have different expectations on how the salesman should perform during a sales call. This could be why each manager had different records of Marsh’s performance written down in the reports. When Marsh started working with Ted Franklin, it made a negative impact on his attitude towards his career.
The company was unable to maintain and manage the bonus incentive plan that they had in place before the crisis. The employees started to complain about the company’s policies and its situation also by underperforming, which in turn leads to low productivity. The manager Ron Bent had to figure out a way to address these problems, and come up with solutions so that the company can continue operating and supplying its clients. PROBLEM IDENTIFICATION Engstrom Auto Mirror Plant was facing the problem of not being able to keep their employees motivated in both good and bad times. The bonuses were perceived as being part of their regular paycheck, not rewards for high performance, which in long-term lead to de-motivation.
Chapter5. Explain why unions are formed. * Work and Job Conditions Explanation * Alienation Theory—the influence of machinery * Loss of personal contact with labor and products produced * Loss of personal involvement in the work * Pace of work estranging workers from each other * Scarcity Consciousness Theory—jobs are difficult to obtain and retain * Employees believe unions protect jobs by: * Negotiating work rules and apprenticeship programs. * Bargaining seniority and layoff provisions. * Agreeing to grievance procedures.