Internal Control : Performance Measures
Essex Engineering
Topic: Performance measures,
Essex is an industrial company with three divisions. Both the
Midland Division and the North Division are long established.
Senior managers are concerned that these divisions have a high
percentage of products that are near the end of their product
life-cycle. Forecast sales increases over the next 5 years is
expected to be in the region of 4-5% per annum.
The East Division was acquired in 1999 and senior managers...
Controllership in Accounting
Topic: Violations of Internal Control
Michael has been recently hired as the Distribution Supervisor
for an international candy
company. The plant is in a rural area and is about to begin a
major expansion that will triple
its capacity. The company has generous benefits and has paid all
moving expenses for Michael
and his family. During the move, however, the movers damaged a
large piece of oak
furniture. Michael has contacted the moving company. The
insurance is...
The topic is: internal rate of return is used to make investment
decisions :
1.explain why you believe the topic is important.
2.Explain the calculations or concepts, and how it can be used
in decision-making.
3.Assuming your audience knows nothing about the topic, explain
how to apply it:
As an entry-level professional.
As a mid-level professional.
As an executive-level professional.
Ethics: Identify 1 ethical issue related to
this topic and explain how you would address it.
14-33 (Objectives 14-3, 14-5) Items 1 through 10 present various
internal control strengths or internal control deficiencies.
1. Credit is granted by a credit department
2.Once shipment occurs and is recorded in the sales journal, all
shipping documents are electronically marked “recorded” by the
accounting staff.
3.Sales returns are presented to a sales department clerk, who
prepares a prenumbered receiving report.
4.Cash receipts received in the mail are received by a secretary
with no record-keeping responsibility.
5.Cash receipts received in...