Assignment #1: Moss and Mcadams Accounting Firm

Although I do agree that Sullivan acted recklessly during the audit, I do not believe that he, alone, was responsible for the deficiencies noted

Q.1 – Briefly describe the dilemma presented in this case study. Who are the key players and what are some of the antecedents that have led to the present problem? Ans. When the best manager, takes certain actions which go against the core values of the company, it becomes really difficult for the management to make a fair judgement. They are stuck in a dilemma of what would be a better judgement. As a leader, it is very important to be fair and impartial to your team members. And so is the dilemma presented in the case, Bob’s Meltdown, Nicholas G. Carr. The key players in this case are1. Annette Innella 2. Robert Dunn 3. Jay Nguyen Annette Innella is the Vice President, Knowledge Management at Concord Machines. She was recently hired by

The focus of EEC’s investment of the purchasing of the supplier is to cut down on

Scanlan's decision not to close down the mine is a reflection of what happens when "mock bureaucracies" become the norm. Scanlan's based his decision not to close down the mine on the assumption that the Director would reopen the mine and fire or replace him with a more "reasonable inspector".

a service department’s costs have been allocated, costs are not reallocated back to it under

Better communication needs to be created between mid and upper management. Proper communication will lead to a better understanding of the goals desired. Feedback is provided by upward communication, which makes employees feel involved and can help managers to get employees to understand their concerns (Thrilwall, 2012). Cooke and Peterson communicated scarcely and poorly. No regular meeting were scheduled. When the two did communicate there was no clear and actionable dialogue. Communication is only successful when both the sender and receiver understand the same information as a result of communication ( MindTools, n.d.) Both Cooke and Peterson should establish regular structured communication. This can be accomplished by setting periodic meetings, written updates via e-mail or memos. These meeting will provide downward communication that will allow information to be dispensed to the team working on the projects in question. These meeting will make Peterson and her team feel more involved in the direction of the project and it will also keep Cooke abreast of the attitudes and values of her employees. Cooke can defuse any potential problems

You may omit explanations of the transactions. Skip a line between eah set of journal entries.

3. What are each of the financial statements commonly called in for-profit health care organizations and in not for-profit care organizations?

uses budgeted fleet hours to allocate variable manufacturing overhead. The following information pertains to the company 's manufacturing overhead data:

Describe at least two (2) career options someone with an accounting education can pursue. Be sure to reference sources such as the Bureau of Labor Statistics and the American Institute of Certified Public Accountants.

I would be very wary of a business professional that presented so many problems in such a short time predominantly in the fundamental area of communication. McRae’s team members tried to overrule Ludmilla’s efforts to bring back culturist aspects and were very insensitive in

QuickBooks and Sage 50 Accounting are both great options for small business accounting. These programs help manage business finances which can drastically save time that may have been spent creating Excel spreadsheets and more. However, while both programs are sufficient for small businesses, the programs differ based on what they can offer your company.

The second issue appears to be lack of person-group (PG) fit. PG fit is where employees and co-workers generally get along and has similar attributes such as education, values and supporting one another. Hence, this is not the case of PG being visible between Benton and Scoville. From the case this information has been gathered:

Stephen Richards’ actions were plain and simply criminal, and therefore very serious. Richards used his position of power as the Global head of sales to compel clients into boosting sales earnings by quarter. And ultimately this led to "overly aggressive accounting practices" to boost their reported earnings. It was well known to CA’s

At the time the fraud existed, internal controls were almost non-existent. The management team employed a number of improper accounting practices that did not comply with GAAP. As stated earlier, CEO Dean Buntrock not only allowed internal controls to be bypassed, he encouraged them to be ignored and shaped accounting policy with the sole purpose of making the targeted earnings numbers every year. The auditing firm, Arthur Andersen, LLP, was also shown to have complicity. The partners at Andersen knew that the company’s policies were not compliant so they provided Waste Management with proposed adjusting entries to their books. Waste Management refused to make the adjustments so Andersen had Waste Management sign off on a list of 32 steps the company must do to change its practices. The document legally constituted an agreement among the two parties and clearly shows that Andersen was aware of fraud that Waste Management had covered up in the past. Furthermore, Andersen did not stand up to the company and continued to