Date: Thu, 17 JAN 2008 7:42:53 +0000
From: "Darlene Wardlaw"
Subject: Understanding the Revenue Cycle
Attachment:
I’ve attached a Sales internal control questionnaire from another engagement that I think you can use for Apollo. You may want to talk to Karina Ramirez to get answers to the questions.
1. Complete the ICQ for Apollo. For “yes” answers, add a comment stating which department and clerk performs the function. For “no” answers, describe the possible “errors” or “frauds” that could occur because of the control weakness. 2. I’ve started a flowchart and listed some strengths and weaknesses, but had to leave before I could finish it. See if you need to add any more strengths and/or weaknesses that you find from
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| 9. Are sales prices and terms based on approved | | |
|standards? | | |
| 10. Are returned sales credits and other credits | | |
|supported by documentation as to receipt, condition, and | | |
|quantity, and approved by a responsible officer? | | |
| 11. Are shipped quantities compared to invoice | | |
|quantities? | | |
| 12. Are sales invoices checked for error in quantities, | | |
|prices, extensions and footing, and freight allowances, |
a. Consider the personality, emotions, beliefs, behaviors, goals interests, mental health, and strengths and weaknesses.
6. Although you are basically satisfied with the analysis thus far, you are concerned about the
There are several reasons why AGI should consider Mercury Athletic as an appropriate target for acquisition. First, acquiring Mercury could improve both companies financially. Acquiring Mercury would double AGI’s revenue. Although Mercury’s financial performance has been disappointing, they experienced top line growth of 20% in 2006. Unfortunately, their profitability has been disappointing due to price concessions to big box retailers and an unsuccessful women’s line. Mercury’s (and ultimately AGI’s) profitability could be improved by the synergies of the two companies merging. Synergies within supply chain, operations, research and development, and advertising should all improve Mercury’s EBITDA.
2.1 Evaluate prior learning and work-related experience to identify personal strength and weaknesses in self-development.
West Coast Fashions, Inc has decided to sell one of their segments, Mercury Athletic in the context of a broader reorganization. The head of the business development for Active Gear, Inc(AGI), John Liedtke, views this event as a good
This case study of Footwear International demonstrates the cultural differences in society. It shows the consequences when a society, like Bangladesh, get interpreted the wrong way by the people. John Carlson from Footwear International experienced an innocent mishap within his company, which had disrespected many people. He needs to let the people know that it was an honest mistake and that Footwear International will do whatever it takes to correct the problem.
I will then list areas I have identified as my own personal weak points for further development.
New Balance was founded by William J. Riley in 1906 in the city of Boston. Riley started by making arch supports for customers who had to spend all day on their feet. Over time the building of arch supports led to the creation of his first running shoe in 1925. As part of a local running club, Riley capitalized on an opportunity to improve running shoes of the time and his designs became widely popular. His new running shoes became so popular that by the 1940’s that production spread from running to many other sports. Then the expansion of the manufacturing significantly increased as he realized a need to running shoes with more selection for wider feet, and
1. A roll forward is an important test in relation to year-end balance of gross PPE. It is necessary for the auditor to have assurance about the amount on the year-end 2011 balance sheet. However, a majority of the dollar amounts on the balance sheet should have been tested in the previous year. Roll forward allows the auditor to asses any activity since the last recording on the balance sheet. The mathematical accuracy is crucial because if the numbers are off, the auditor could be tested additions and/or disposals information that is not right. The beginning balance after the roll forward must equal the amount from the audited balance from the previous year, and these must also agree to the lead sheet. This is because these are
The following memo aims to outline the results of the audit of Apollo Shoes, give recommendations to improve the company’s operations, and provide justification for our qualified opinion.
3. What major problems might you encounter with your new sales force structure as it relates to both external factors (customers) and internal factors (employee reactions)?
We designed the Apollo Shoes audit case to introduce students to the entire audit process, from planning the engagement to drafting the final report. Students are asked to assume the role of a veteran of two-to-three “busy” seasons, “in-charging” for the first time. Communication between the students and client personnel and other firm members takes the form of e-mail messages from the engagement partner (Arnold Anderson), the engagement manager (Darlene Wardlaw), an intern (Bradley
Basketball is a sport that relies a lot on the player’s footwork. You will realize that athletes in basketball normally make sharp cuts, jump around and move in all directions in a quick manner. The player must wear the right basketball shoes in order to do this. This will give the player a god opportunity to succeed in this game. The right pair of basketball shoes will provide the desired protection, traction and avoid injury while on the court. This is the reason why you should pick the right pair of basketball shoes. There are several things that you should consider when choosing the right basketball shoes. These include:
July 16th, 1969. It’s a peaceful morning at Cape Canaveral with pleasant temperatures and little wind. All is calm. Suddenly, a tremendous roar shatters the morning as the crew of Apollo 11 blast off toward the moon, riding the biggest rocket ever created. Burning 20 tons of explosive fuel a second, it propels Neil Armstrong, Buzz Aldrin, and Michael Collins into history. The spacecraft lands four days later on the moon. Millions watched as men took the first steps on a strange place 238,900 miles away, or 9 and ½ times around the earth. After placing America’s flag among the lunar rocks, the Apollo 11 crew lit their engines and headed for the small blue sphere we call home, splashing down safely in the ocean and completing Kennedy’s
The movie The Field of Lost Shoes, purely based off of the Battle of New Market, is both accurate and inaccurate when displaying soldiers’ lifestyle and their experiences that occurred during the Civil War. The movie is inaccurate in a way that is portrays soldiers having to leave their jobs, when they really did have jobs they had to leave. The movie is accurate in most scenes. Its accuracy proves to be correct in the scenes that women had to step in as nurses and help the wounded, soldiers leaving their loved ones, the horrible conditions that the soldiers had to fight through, and when groups of stable soldiers went to the field’s aftermath to rescue wounded soldiers and their loved ones. Overall, the movie is consistently accurate all the way through to show how the Civil War impacted the American lifestyle.