A Mutual Fund Company (“the Company”) has engaged your firm to conduct their internal audit services. All of the employees of the company are skilled investment managers and administrators. They are also very well paid compared to others in the industry. Upon reviewing the documents you found out that the CEO of the Company had formed a company which offered similar business products and services but had been fined by the Securities Commission for failure to file its statutory returns in a timely manner. You have also found out, from your search on the internet, that a company with a similar name is listed under the fraud watch-list of the Commission. As time is of the essence, you have contacted the HR Department of the company requesting a resume of the CEO. They advised that they could not locate it and that he was on vacation at that time. If have also attempted to google the name of this persons but you cannot locate him You also realize that the company did not file their audited financials from 2018. So you contacted the previous accounting firm who were not available to provide any feedback on the client company and the reasons why the accounts were not submitted to the regulator. You complete your review by cross checking the picture of the office with On a final attempt to confirm the information, you cross check the picture of the offices provided with the google maps and find out that there is another structure on that location and it is not the Fund Company

a. What are the red flags identified which might indicate money laundering activity and/or terrorist financing in this case?

b. What are the risks and the potential threats that the accounting firm may be faced with in this situation?

c. What KYC/Due Diligence work could the accounting firm have carried out and when?

The computer center at Rockbottom University has been experiencing computer downtime. Let us assume that the trials of an associated Markov process are defined as one-hour periods and that the probability of the system being in a running state or a down state is based on the state of the system in the previous period. Historical data show the following transition probabilities: To From Running Down Running 0.70 0.30 Down 0.20 0.80 If the system is initially running, what is the probability of the system being down in the next hour of operation? If required, round your answers to two decimal places. The probability of the system is What are the steady-state probabilities of the system being in the running state and in the down state? If required, round your answers to two decimal places. = =

Wings Hospital has had a busy week. Two issues have arisen: (1) an employee was dismissed just prior to unionization, and (2) a veteran was interviewed but not hired for a position and is alleging discrimination and harassment.

The hospital has just been unionized, and an employee was dismissed who was a designated union representative. The employer said she was found chatting with other employees on social media about the union during the lunch break on company computers 24 hours before the union was voted in, and the former employee filed a charge with the regional labor relations office.

In addition, the company’s CEO has received a charge of discrimination and harassment regarding a female veteran who was interviewed but not hired for an insurance coordinator position. The veteran claims the interviewer was making unseemly gestures towards her during the interview.

You can consult both your assigned chapter reading and the U.S. National Labor Relations Board (NLRB) website to address the checklist items below:

Checklist:

• Identify the labor relations law(s) pertaining to the two dismissed employees.
• State the potential steps that will be taken by the NLRB regarding the charges filed by the former employee.
• Identify the EEOC laws related to the alleged discrimination and harassment charges brought by the veteran who was interviewed but not hired.
• State remedies or actions needed to be taken by the HR Department/Wings Hospital to comply with the EEOC and labor relations laws that applied to this scenario.

LYFT enters into an agreement with University to set up a $60K prepaid account balance to be used for student rides from University sporting events. University pays at the beginning of each month and the balance is drawn down as trips are completed during the month. The contract runs from 7/1/2019 to 12/31/2019.

a. What entry(ies) does LYFT record on the first day of the month for this transaction? How does the entry change if LYFT receives the cash on the first day versus if receives the cash on the last day of the month?

B. Assuming LYFT aggregates and books the trips against University's balance at month-end, what entry is recorded at the end of the month if only $30K in rides are taken? What entry is recorded if the $20K unused balance is refunded to University at the end of the month?

c. If the contract is set up that any usage beyond the $50K will be billed to University at the end of the month, what entry(ies) would be recorded at month end if $75K in rides were taken during the period?

d. If LYFT grants all students enrolled at University a 10% discount, what would the entry(ies) be to record a $10 student ride from a University sporting event?

e. If the University does not pay for 6 months but utilizes $100K in rides, how would this be reflected in the 12/31/2019 balance sheet? What P&L considerations would you have to assess?

LYFT enters into an agreement with University to set up a $60K prepaid account balance to be used for student rides from University sporting events. University pays at the beginning of each month and the balance is drawn down as trips are completed during the month. The contract runs from 7/1/2019 to 12/31/2019.

a. What entry(ies) does LYFT record on the first day of the month for this transaction? How does the entry change if LYFT receives the cash on the first day versus if receives the cash on the last day of the month?

B. Assuming LYFT aggregates and books the trips against University's balance at month-end, what entry is recorded at the end of the month if only $30K in rides are taken? What entry is recorded if the $20K unused balance is refunded to University at the end of the month?

c. If the contract is set up that any usage beyond the $50K will be billed to University at the end of the month, what entry(ies) would be recorded at month end if $75K in rides were taken during the period?

d. If LYFT grants all students enrolled at University a 10% discount, what would the entry(ies) be to record a $10 student ride from a University sporting event?

e. If the University does not pay for 6 months but utilizes $100K in rides, how would this be reflected in the 12/31/2019 balance sheet? What P&L considerations would you have to assess?

In this assignment you will assume the role of a manager in charge of business development and write a brief report to your CEO outlining the situation you have evaluated based on the information you have received. Explain how the information you received will impact your firm.

2. Your report should be between 500-600 words.
3. You cannot and should not use outside resources.

START OF CASE

You just signed a contract with Dolce & Gabbana.
You are now in charge of the company’s operations in China.
Unfortunately, your predecessor caused a major crisis for your company (and was fired). Here below, you will see a brief memo written by your assistant.
Now, it is up to you to fix the problem. How would you manage the crisis in your company?

Dolce & Gabbana (D&G) is facing a major crisis in China where top e-commerce sites are dumping its products over accusations of racism. Thousands of D&G goods have disappeared from platforms run by companies like Alibaba and JD.com. The backlash against the Italian luxury fashion brand began earlier this week after it launched video ads featuring a Chinese woman struggling to eat pizza and other Italian food with chopsticks. The situation was then made worse by offensive comments that were allegedly sent from co-founder Stefano Gabbana's personal Instagram account. The videos and comments spread rapidly on Chinese social media, drawing accusations of racism and calls for boycotts from celebrities. The furor forced D&G to cancel a high-profile fashion show in Shanghai hours before it was due to start on Wednesday. The scandal could deliver a heavy blow to the company, as Chinese consumers account for more than a third of global spending on luxury products. The fashion house is now trying desperately

to limit the fallout. On Friday, Gabbana and co-founder Domenico Dolce appeared in a video message posted on social media to apologize to "all Chinese people around the world. Our families taught us to respect all cultures of the world," Dolce said. "We hope to receive your forgiveness for our cultural misunderstandings." The company has apologized previously and also said the offensive messages sent from Gabbana's Instagram account were the result of hackers. But that hasn't stopped the backlash so far.

Retailers yank D&G products

E-commerce company Yangmatou said in a social media post Wednesday that it had removed 58,000 D&G products, declaring that "the motherland is more important than anything else." Lane Crawford, a Hong Kong-based fashion retailer with several outlets in mainland China, said Friday that it is halting the sale of the Italian brand's goods in stores and online after customers started returning them. "We believe that brands need to be aware of the cultural implications of their actions and understand the potential backlash when customers feel their values have been disrespected," Lane Crawford said in a statement. Pages for D&G products on shopping sites operated by Alibaba and JD.com have been taken down, and the brand's products weren't showing up in searches on the sites. Alibaba and JD.com did not respond to requests for comment. D&G products were also unavailable on other online retail sites in China, including those of Yoox Net-A-Porter. A spokesman for Yoox Net-A-Porter acknowledged Friday that the brand's products were unavailable on the company's China sites.

Analysts Evaluations

Analysts warned that D&G's apologies may not be enough to prevent a sharp drop in sales in the world's second largest economy. "The damage to the brand in the eyes of Chinese consumers has already been done," said Ben Cavender, a senior analyst at China Market Research in Shanghai. On social media, people posted videos of themselves burning the brand's clothes or cutting them into pieces and using them to wash their toilets. Cavender suggested another risk is that shopping malls in China choose to start shutting down D&G stores. Hung Huang, a prominent Chinese fashion commentator and magazine publisher, said the Italian brand's use of celebrities to help market its products is likely to encounter difficulties. "I don't think anyone will touch them," she told CNN. Chinese celebrities are already "under pressure" to demonstrate their patriotism following movie star Fan Bingbing's recent temporary disappearance and allegations against her of tax evasion, according to Hung. "China is on a very patriotic bent right now so it's going to very difficult to get support," she said. But Hu Xijin, the editor-in-chief of nationalistic Chinese tabloid Global Times, wrote in a social media post that D&G shouldn't be too heavily penalized because of the incident. He argued that China needs to be more tolerant in order to show the world it's an open market.

END of CASE

You are the CEO of a small company that sells transportation and logistics software. Your company has not been doing well because of competition from larger rivals. You learn of a lucrative opportunity to sell licenses of your software to the Lackria Department of Transportation, a government agency of the nation of Lackria. Closing the deal could save your company from bankruptcy. In an impulsive moment, you meet with a Lackrian government minister and offer her ownership of a luxury lakeside home in exchange for a guaranteed software contract with the Lackrian government. The minister refuses your offer and asks you to leave her office. The next day you regret your decision. Discuss any possible violations of white collar laws.

ESSAY.

Sing Corporation, a manufacturer of steel products, began operations on October 1, 2016. Sing’s accounting department has begun to prepare the capital asset and depreciation schedule that follows. You have been asked to assist in completing this schedule. In addition to determining that the data already on the schedule are correct, you have obtained the following information from the company’s records and personnel:

When would it be appropriate for management to use different depreciation policies as they have done for Machines A and B?​

Case Management book (Fundementals of Case Management Practice, skills for the human services - 5th ed by Nancy Summers).

Assignment: Chapter 15 Case Study: A First Interview with Kerrie, the Case Manager

Please read the following case study and answer the questions to the best of your ability.

Case 15.1: A First Interview with Kerrie, the Case Manager

Today, Kerrie, a case manager, is conducting an initial interview with Bernadette. En route to her office from the waiting area, Kerrie remarks to Bernadette that she understands that Bernadette has come to the agency because her children were removed from the home. Bernadette nods.

Once in Kerrie's office, Bernadette shares with Kerrie that she was court-mandated to come to the agency for services, specifically to work on her problems with addiction and to learn better parenting skills. Bernadette says she was told that all of this must be accomplished before her children can be returned to her. Kerrie tells Bernadette that she was also addicted to heroin at one time, and then confides to Bernadette that she didn't lose her children because she was "too smart for that!" Kerrie laughs when she says this. Kerrie then points to pictures of her grown children and proudly announces that the older one just graduated with a major in pre-med from the local university.

Kerrie explains to Bernadette several agency policies and practices, including the agency's payment arrangements and confidentiality regulations. Kerrie then invites Bernadette to tell her what happened that precipitated Bernadette's children being removed from her care. As Bernadette talks about her addiction, her friends, her church, and the episode that led to her losing her children, Kerrie uses reflective listening, nodding, and leaning forward to hear what Bernadette is telling her. Kerrie asks Bernadette why she thinks she became addicted in the first place.

At the end of Bernadette's narrative, Kerrie stands up and tells Bernadette she has a good idea now about what the problem is and what she needs. Kerrie tells Bernadette that she will follow up soon to let Bernadette know what the agency can offer her. Kerrie opens the door, smiling, and nods for Bernadette to leave. Bernadette seems unsure of which way to go, so Kerrie points down the hall to the left and goes back in her office.

1. In this case, what did Kerrie do or say that was NOT professional or helpful?

2. What did Kerrie do or say that WAS professional and helpful? 3. What additional information should Kerrie have offered before Bernadette left?

3. What additional information should Kerrie have offered before Bernadette left?

Chapter 14: Admission-Seeking interviews

1. Probably the worst place to conduct an interview is in:
   1. An interrogation room
   2. In public
   3. The suspects home
   4. The interviewer’s office
2. Which types of employees are most likely to be entitled to representation in an interview?
   1. Employees of public companies
   2. Union employees
   3. Government employees
   4. Executives and other high-level employees
3. Jones feels he is getting close to an admission from Smith, an embezzlement suspect. All the following might further secure Smith’s cooperation EXCEPT:
   1. Tell Smith, “Look, it’s not like you’re Jack the Ripper. This kind of thing happens all the time.”
   2. Tell Smith he knows that he wouldn’t have borrowed the money if he did not have an urgent need for it.
   3. Say, “With the lack of internal controls here, management practically asking for something like this to happen.”
   4. Threaten Smith with criminal prosecution
4. A good example of an alternative question is”
   1. “Why did you borrow the money?”
   2. “Will you repay the money now or later?”
   3. “Did you deliberately plan this or did it just happen?”
   4. “What do you think happened to the money?”

1. During the interview process, the interviewer should:
   1. Encourage the subject to speak
   2. Interrupt the subject to clarify the question when the subject is not answering the question that was asked.
   3. Control the interview by allowing the subject to speak only 50 percent of the time.