Review the engagement observation that follows and record the specific information that represents the recommendation and each of the following observation attributes: criteria, condition, cause and effect. Audit Observation and Recommendation: Corporation X associates are required to abide by the organization's formal Code of Business Conduct & Ethics (the Code). To ensure all employees are aware of the Code and their obligations under it, Corporation X requires all associates to acknowledge receipt of the Code. A global email was sent to all associates on July 1st informing them of their obligation to read and acknowledge the Code. Associates were instructed to complete and return acknowledgements by December 1st. Our audit testing indicated the following relative to the acknowledgement process: As of March 1st fewer than 50% of associates had completed and returned acknowledgments. Follow-up procedures have not been performed by human resources (HR) or department management to date. There is not a formal policy indicating actions to be taken if and when associates do not return acknowledgments. No disciplinary actions have been taken regarding associates who have not completed acknowledgments of the Code to date. Improving the acknowledgment process will help Corporation X demonstrate compliance with external regulations requiring a Code of Ethics. It will also help to ensure all associates are aware of their responsibilities and obligations to the organization under the Code. We recommend management enhance the acknowledgement tracking process to ensure all associates acknowledge receipt of, compliance with, and understanding of the Code. Policy and procedures need to be developed and implemented to take appropriate action when associates do not respond. Disciplinary action should be taken if associates refuse to complete and return acknowledgments, as required by policy. Management Response: Associates who have not acknowledged the Code as of March 24th will be sent a reminder notification the week of April 3rd informing them of the requirement to acknowledge the Code. A report of all associates who continue to be delinquent in acknowledging the Code will be provided to the applicable HR liaison for review and follow-up the week of April 17th. The HR function will partner with the department business heads of delinquent associates to obtain the necessary acknowledgments. A final report will be generated the week of April 24th to determine the remaining associates who have not acknowledged the Code. A verbal warning will be issued to all associates who have not acknowledged the Code by April 24th and a written warning will be provided to the associates who have not acknowledged the Code by April 30th. Accountability: Jane Doe Responsibility: John Smith Implementation Date: March 24 Write down the specific information in the engagement observation that represents the internal auditors’ recommendation and their observation attributes: criteria, condition, cause, and effect? Explain any reason that suggests that the observation, as presented, does not adequately address all the suggested observation attributes?

you landed a summer internship with a company that processes dental insurance claims for insurance companies. The company receives the insurance claims from dental offices, achieves authorization from the correct insurance company, and sends payment checks. You do not deal with dental customers directly; instead, you work with insurance companies on one side and dental offices on the other.

After two months with the company, you think a number of frauds may be occurring, and you feel the best way to search for these frauds is to investigate documentary evidence. Because hundreds of dental offices send insurance claims to your office, some may not be real dental offices. You contact the IT department and receive a set of files that represent the documents involved in transactions for the past three months.

You will conduct an investigation toward answering the questions below. You will be considered for testimony as an expert witness. You will prepare a report for the Court of your findings and will also prepare and submit with your report a resume outlining your experience and credentials that make you an expert in your field.

Questions:

Some dental offices may not employ real dentists and may be front companies that are sending claims out for work not performed. A real dental office should have a real office address with dental chairs, reception areas, etc. Are any dental offices instead using post office boxes in their payment addresses?

Real dentists should be sending claims to many different insurance companies. Since your company only represents a few of these companies, the sequential numbers on the claim sheets from a given dentist will rotate through all of the companies that the dentist is working with. If the numbers sent to you from a given dentist are sequential, you know that the dentist is only sending claims to you. Search the claims file for sequential numbers from any given dental office. Are any sending you sequential claims?

A human adult has 32 permanent teeth. Your company requires that each claim list the patient seen (identified by patient ID), the tooth worked on, and the type of work done. Because of the natural limitation on the amount of cavities that could be filled on any one person, it is rare that a person would have more than a few cavities in the three months of your audit (it is possible for a tooth to have more than one cavity). Using this field, calculate the total number of cavities submitted for each patient. Do any patients seem to be visiting the dentist too often?

Global Warming: WRAP Prompt 2013

You are a consultant for Con-Glom Inc., an industrial equipment manufacturing firm. A coalition of concerned scientists and environmental groups has issued a report on global warming, the theory that the recent gradual heating of the earth’s atmosphere is a result of human and industrial activity. The scientists point to several climate change risks: rising ocean levels, erosion of shorelines, disruption of agriculture, and loss of animal habitat. The coalition’s report suggests that Con-Glom and other large corporations are using loopholes to avoid complying with federal emissions standards because they are more concerned with profits and jobs than environmental preservation.

In response to the report and the public outcry it produces, Con-Glom faces a decision about whether or not to install filtering systems at its plants. The filtering systems are expensive to purchase and install (about $75,000 per site), and their use would initially decrease the productivity of Con-Glom's manufacturing plants at a time when the company already faces serious financial problems. Nevertheless, the company is seriously considering installing the filtering systems and publicizing its action as a means of countering the negative publicity generated by the report.

However, the decision is likely to be unpopular among employees and their families. The cost of the filtering systems and the loss of manufacturing output would force Con-Glom to scale back production by 5% and close one of its eleven production facilities. If the filtering systems are installed at ten facilities, the company will be forced to close its oldest and least efficient manufacturing plant, located in Greenwich, Illinois. This action would put 1,400 employees out of work, in an area already suffering from high unemployment. Alternatively, the company could install the filtering systems at only five of its plants. In this case, the Greenwich, Illinois plant would not need to be closed, but production would still need to be scaled back and 700 employees would be laid off.

Directions:

The company's CEO, William B. Friedman, has asked you to assess the situation facing the company and suggest a solution to the problem. Write a memo to Mr. Friedman in which you discuss your solution. A secondary audience might be the members of his Management Committee.

Elements of a desired response:

• A clear organized description of problem and explanation of solution
• inclusion of specific supporting details and evidence
• demonstration of a clear purpose and awareness of the audience
• effective development of your ideas
• appropriate style and tone for business document
• standard written English, spelling, grammar and punctuation

1) The rules and laws that govern economic life are called ___________.

a) Incentives

b) Scarcity

c) Terms of Trade

d) Institutions

2) When supply increases, the supply curve shifts _______.

a) Up and to the right

b) Up and to the left

c) Down and to the right

d) Down and to the left

3) A competitive equilibrium is efficient because it maximizes ______.

a) Consumer surplus

b) Producer surplus

c) Total surplus

d) All of the above

4) Consider the market for ice cream. Which of the following would you expect to cause the equilibrium price of ice cream to increase?

a) A decrease in the price of cream

b) An increase in the prize of frozen yogurt

c) Both a and b

d) Neither a nor b

5) Which of the following would NOT be counted as part of U.S. GDP in 2017?

a) A 2016 model year car sold in the United States in 2017

b) Eggs produced in the United States in 2017 and sold to consumers

c) The wages of an American soldier

d) A hockey stick produced by a Canadian worker in Detroit

6) Which of the following variables corrects for the effects of population but no inflation?

a) Real GDP

b) Real GDP per capita

c) Nominal GDP

d) Nominal GDP per capita

7) Which of the following is TRUE?

a) There was a lot of variation in real GDP per capita across countries in the year 1000

b) There was a lot of variation in real GDP per capita across countries in the year 2016

c) Both a and b

d) Neither a nor b

8) In the Solow growth model, why do countries grow faster when their capital stock is low?

a) Countries invest a larger fraction of output when the capital stock is low

b) When the capital stock is low, it is used less intensively, causing less depreciation

c) A country's economic institutions are stronger when it has a lower capital stock

d) The marginal product of capital is higher when the capital stock is low, increasing the return on investment.

9) Which of the following countries would the Solow growth predict to have the highest growth rate?

a) A poor country with bad economic institutions

b) A poor country with good economic institutions

c) A rich country with bad economic institutions

d) A rich country with good economic institutions

10) In the Solow growth model, what can explain long-run economic growth, such as that experienced in the United States?

a) Increases in technical knowledge

b) Increases in physical capital

c) Increases in human capital

d) Increases in investment rate

Case Study

Many of you are a registered nurse. Since your graduation 3 years ago, you have worked as a full-time industrial health nurse for a large manufacturing plant. Although you love your family (spouse and one preschool-aged child), you love your job as well because a career is very important to you. Recently, you and your spouse decided to have another baby. At that time, you and your spouse reached a joint decision that if you had another baby, you would reduce your work time and spend more time at home with the children. Last week, however, the director of human resources told you that the full-time director of health-care services for the plant is leaving and that the organization wants to appoint you to the position. You were initially thrilled and excited; however, you found out several days later that you and your spouse are expecting a baby. Last night, you spoke with your spouse about your career future. Your spouse is an attorney whose practice has suddenly gained momentum. Although the two of you have shared child-rearing equally until this point, your spouse is not sure how much longer this can be done if the law practice continues to expand. If you take the position, which you would like to do, it would mean full-time work and more management responsibilities. You want the decision you and your spouse reach to be well-thought-out, as it has far-reaching consequences and concerns many people.

Writing Pompts

• Determine what you should do.
• Examine both the individual aspects of decision making and the critical elements in making decisions.
• Make a plan including a goal, a list of information, and data that you need to gather and areas where you may be vulnerable to poor decision making.
• Examine the consequences of each alternative available to you.
• After you have made your decision, get together in a group (four to six people) and share your decisions.
• Were they the same?
• How did you approach the problem solving differently from others in your group?
• Was a rational systematic problem-solving process used, or was the chosen solution based more on intuition?
• How many alternatives were generated?
• Did some of the group members identify alternatives that you had not considered?
• Was a goal or objective identified?
• How did your personal values influence your decision?

Pick a job or discipline below or one that you would like to have in the future:

Go to Monster.com for job openings and pick a job title and locations (i.e. Costa Mesa), then click on a job that you might be interested in.

What are the job responsibilities (Job description)?

What is the job qualifications (Job specifications)?

Copy and paste your findings below.

Go to Glassdoor.com look for a similar job title, and pick a company. You will need to create an account.

Click on “Company Review”

Click on type a name of a company you are interested in

Click on the company name

Click on “Interview”

Copy and paste one comment or interview question that is listed

Go to Salary.com look for a similar job title

Click on Salary

Purpose:

• Familiarize and explore these three career websites, especially the last two.
• Research for possible careers
• Research for interviewing

From Monster.com

Name of Company: (type here with company name)

Job Title: (type here with job title)

Job Description:

(Use “keep text only” when pasting here)

Job Specification

(Use “keep text only” when pasting here)

From Glassdoor.com

Name of Company: (type here with company name)

Job Title: (type here with job title)

Comment or Question in Interview section

(Use “keep text only” when pasting here)

From Salary.com

Name of Company: (type here with company name)

Job Title: (type here with job title)

Type the medium salary (top of the curve)

(Type here)

List of possible jobs or discipline

Pick a company then the jobs that might be open

Milligan Companies, Inc (MCI)is a private company which owns five auto parts stores Houghton. MCI has gone from two auto parts stores to five stores in the last three years, and it plans on continued growth. Sheila and Walter own the majority of the stock. Sheila is the chairman of the board and the CEO. Walter is the COO as well as the CFO. Shares not owned by Sheila and Walter are owned by friends and family who helped get MCI started. Sheila started the company with one store after working in an auto parts store. To date, she has funded growth from an inheritance and investments from a few friends. They are thinking about expanding by several more stores in the near future.
MCI employs 20 full time staff. These workers are employed in store management, parts delivery and accounting. About 40% of MCI is retail walk-in business and the other 60% is regular customers where MCI delivers parts and bills these customers on account. During peak periods, MCI also uses part-time employees.
Your accounting firm ACC4100, is conducting the annual audit for the year ended December 31, 2020. Your audit team discovers numerous misstatements, mostly caused by human error and weak internal control. In aggregate, the misstatements are material, but management agrees to make your recommendation adjustments. Also, during 2020, MCI changed its method of valuing inventory from a weighted-average method to FIFO. When Sheila opened the first store, she thought the easiest way to value inventory was to use an average cost for each category of items. As the company grew, they never revised this practice. Now that the company is significantly larger with multiple stores, Sheila realize they need to be more focused on tracking inventory costs because of the impact of their profit margin.   The change was made to FIFO because it is more commonly used in the industry.
Your team concludes fieldwork on March 1, 2021 and Sheila is planning to provide the auditing financial statements and audit report to its lenders on March 6, 2023
A.      Does KCI have a justified change in accounting principle? If so, how should the change be presented in the financial statements?
B.      Assuming KCI has a justified change in accounting principle and has accounted for the change properly, draft the report that the CPA will issue.
C.      If management does not make agree to make the adjustments to correct the financial statements, and does not properly present the change in accounting principle in the financial statements. What reporting options does the CPA firm have?

One very diverse group of eukaryotic microbes are protozoa. All protozoa are eukaryotic, unicellular and lack cell walls. Many protozoan are chemoheterotrophs, getting energy and carbon from other organsims. Two groups of protozoans that are photosynthetic are dinoflagellates and euglenoids. Protozoans are divided into six groups: Parabasalids have a Golgi like organelles, a parabasl body, and lack mitochondria. Examples: are 1. Trichonympha which live in the guts of termites and digest cellulose into glucose. 2. Trichomonas which lives in the acidic environment of the human vagina, if the pH is increased, it can proliferate and cause inflammation which might lead to sterility. Diplomonadida lack mitochondria and have two rudimentary mitochondria called mitosomes, two equal size nuclei and multiple flagella. An example of this type of protozoan found in well water or lake water if Giardia, the ingestion of cysts leads to a GI infection characterized by flatulence and diarrhea. This protozon looks owl like in a light microscope because of the two nuclei. Euglenoza Euglenids:lack cell walls, have flagella, are chemoheterotrophic phagocytes in the dark, and have several features unique to euglenids. For one they store energy in a polysaccharide paramylon. They may move by a squirming motion called euglenoid movement. They have a protein pellicle under thier plasma membrane to give the cell shape. Most have a "red eyespot" that helps with phototaxis. Kinetoplastids have a single large mitochondria that contain a kinetoplast Two notable pathogens in this group are Trypanosoma and Leishmania. Alveolates have small membrane bound cavities beneath the plasma membrane called alveoli. In addition, alveolates have tubular mitochondria cristae. There are three subgroups. Ciliates have cilia for motility or to move water past the cell surface. Ciliates are chemoheterotrophic and have two nuclei. The only pathogenic ciliate is Balantidium. Paramecium is a well known pond dweller used to study regeneration. Apicomplexans are chemoheterotrophic animal pathogens. They contain apices which are organelles that contain enzymes that allow the protozoan to penetrate host cells. Three examples of apicomplexans are Plasmodium, cryptosporidium and Toxoplasma.

12. According to CDC toxoplasmosis is a neglected parasitic disease. Cats play an significant role in transmitting the protozoan because cats become infected by eating infected rodents or birds. An infected kitten may shed as many as a million cysts in thier feces for up to 3 weeks after infection. Humans may become infected by changing cat litter boxes or gardening without gloves. Suggest at least two ways a person may prevent infection based on this information. You may also visit the CDC websitehttps://www.cdc.gov/parasites/toxoplasmosis/gen_info/pregnant.html (Links to an external site.)Links to an external site..

Billingham Packaging is considering expanding its production capacity by purchasing a new​ machine, the​ XC-750. The cost of the​ XC-750 is $ 2.76 million.​ Unfortunately, installing this machine will take several months and will partially disrupt production. The firm has just completed a $ 45,000 feasibility study to analyze the decision to buy the​ XC-750, resulting in the following​ estimates: bullet ​Marketing: Once the​ XC-750 is operational next​ year, the extra capacity is expected to generate $ 10.00 million per year in additional​ sales, which will continue for the​ 10-year life of the machine. bullet ​Operations: The disruption caused by the installation will decrease sales by $ 5.01 million this year. As with​ Billingham's existing​ products, the cost of goods for the products produced by the​ XC-750 is expected to be 68 % of their sale price. The increased production will also require increased inventory on hand of $ 1.11 million during the life of the​ project, including year 0. bullet Human​ Resources: The expansion will require additional sales and administrative personnel at a cost of $ 2.09 million per year. bullet ​Accounting: The​ XC-750 will be depreciated via the​ straight-line method over the​ 10-year life of the machine. The firm expects receivables from the new sales to be 14 % of revenues and payables to be 10 % of the cost of goods sold.​ Billingham's marginal corporate tax rate is 35 %.

a. Determine the incremental earnings from the purchase of the​ XC-750.

b. Determine the free cash flow from the purchase of the​ XC-750.

c. If the appropriate cost of capital for the expansion is 9.8%​, compute the NPV of the purchase.

d. While the expected new sales will be $10.00 million per year from the​ expansion, estimates range from $7.95 million to $12.05 million. What is the NPV in the worst​ case? In the best​ case?

e. What is the​ break-even level of new sales from the​ expansion? What is the breakeven level for the cost of goods​ sold?

f. Billingham could instead purchase the​ XC-900, which offers even greater capacity. The cost of the​ XC-900 is $4.09 million. The extra capacity would not be useful in the first two years of​ operation, but would allow for additional sales in years 3 through 10. What level of additional sales​ (above the $10.00 million expected for the​ XC-750) per year in those years would justify purchasing the larger​ machine?

Sulfur compounds cause "off‑odors" in wine, so winemakers want to know the odor threshold, the lowest concentration of a compound that the human nose can detect. The odor threshold for dimethyl sulfide (DMS) in trained wine tasters is about 25 micrograms per liter of wine ( μ g/L ). The untrained noses of consumers may be less sensitive, however. The DMS odor thresholds for 10 untrained students are given. 30 30 42 35 22 33 31 29 19 23 (a) Assume that the standard deviation of the odor threshold for untrained noses is known to be σ = 7 μ g/L . To access the complete data set, click the link for your preferred software format: Excel Minitab JMP SPSS TI R Mac-TXT PC-TXT CSV CrunchIt! Do the three simple conditions hold in this case? Make a stemplot and use it to check the shape of the distribution. Choose the answer that best describes the stemplot. Yes, since this is an SRS, a stemplot shows that the distribution is roughly symmetric with no outliers, and σ is known. No, we cannot be sure. Although the stemplot looks roughly Normal and σ is known, these 10 students are not an SRS of the population in general, and without any more information on how they were chosen, they may not even be an SRS of the student population. No. Although this is a SRS and σ is known, a stemplot shows that the distribution is not symmetric and therefore cannot be Normal. No. Although this is a SRS and σ is known, a stemplot shows that the distribution has many outliers and therefore cannot be Normal. (b) STATE: What is the average (mean) DMS odor threshold, μ , for all untrained people? PLAN: Using the four‑step process, give a 95 % confidence interval for the mean DMS odor threshold among all students. SOLVE: We have assumed that we have a random sample and that the population from which we are sampling is Normal. Find ¯ x . (Enter your answer rounded to one decimal place.) ¯ x = μ g / L Find the standard deviation, σ √ n , of the sampling distribution of ¯ x . (Enter your answer rounded to four decimal places.) σ √ n = CONCLUDE: Choose the correct conclusion. With 95 % confidence, the mean sensitivity for all untrained people is between 27.56 to 33.24 μ g/L . With 95 % confidence, the mean sensitivity for all untrained people is between 25.06 to 33.74 μ g/L . With 95 % confidence, the mean sensitivity for all untrained people is between 26.76 to 33.04 μ g/L . With 95 % confidence, the mean sensitivity for all untrained people is between 28.07 to 32.74 μ g/L .