Hotdogs Does Case Essay

b. What medium would you use to reach each of these parties and what would your relative resource allocation be to each?

She’d been watching cash registers for fifty years and probably never seen a mistake before.” He knows the customers inside and out and categorizes them. Sammy also goes through the noises he hears when checking out a customer, he seems to know them pretty well. Sammy seems to be the daydreamer type and probably wont ever be anything more than a checkout clerk for many years to come.

Operations is separate from the accounting department. The employees in operations handle promoting the products. Also, Operations is in charge of making the products. The company’s accounting system is handled in-house by the cashier and the bookkeeper and by the accounting firm hired to handle the businesses’ financial reporting. The cashier handles all sales through the register. The register is balanced against the drawer each night by the bookkeeper and a deposit made the same day. The bookkeeper gives the accountant the drawer receipts and bank receipts for journal entries and later reports. The accountant checks all cash received and payments made against bank statements and collected paperwork. There is not a single person assigned to do all duties.

Computations and taking of customer’s orders are the process. The cashier should know it. Cashier need to change the money and give the change to customer. If there’s no change well, the flow will goes on.

* Documents used: customer order, sales order, shipping document, sales invoice, sales journal, remittance advice, bank deposit list, cash receipts jornal, credit memo, sales return and allowance journal, uncollectable account authorization form, a/r master file, a/r trail balance, monthly statement

This control is directly related to the accuracy transaction-related audit objective for sales. The auditor might test the effectiveness of this control by examining a sample of duplicate sales invoices for the clerk’s initials indicating that the unit selling price was verified.

Q1. What is the link between audit risk and engagement risk? How does the audit risk model allow the auditor to deal with these risks in the most cost effective manner?

-7:28:52pm he put the money and the receipt in top of the draw while continue counting the registers and processing change.

I started my job at Napoleon Party Mart about a month ago. After being shown how to use the register and the lotto machine I was put to work as a cashier. A good majority of costumers bought the same thing: cigarettes. I fell into a quite comfortable rhythm with this. Scan the cigarettes, check ID, press Enter, Total, then Cash. At the end of the day we had to count the cigarettes then compare with the earlier shift's inventory and my register reports.

[pic]s a senior in a professional services firm, you have been assigned to plan the financial statement audit of a private company named Toy Central Corporation (TCC). In addition, the partner on the engagement has asked you to identify business risks that could adversely affect TCC’s sustained profitability, so that they can be brought to the attention of the company’s board of directors. These tasks will require you to draw on your knowledge of supply chain management, marketing, internal controls, audit assertions, and financial accounting.

CASH - When payment is made by cash, the driver much check each note with a counterfeit detection pen, prior to leaving the client premises, to ensure no fake banknotes are passed. The driver should alert the office immediately any suspicious notes are received.

To record the sale of the stamps with the assumption of 10% of them will not redeemed

There where accounts that had the same debit and credit amounts just a few days apart. At the end of the last quarter in 2009, there were 22 sales recorded. At the end of the previous quarters there was not a high amount of sales which leads one to think that the sales were booked at the end of the year to make the company meet their goal. There was also a high number of invoices with no bill of landing. With a high number of no bill of landings, false billing is presumed. With a bill of landing of a lesser weigh than that which was invoiced, leads to the full order not being shipped, and over charging of the customer or that special arrangements have been made with the customer to receive a discount for early billing. There was also 5 times where invoices where invoiced before they were shipped. This leds to the fact that sales where most likely

Once Abagnale starts his speeches he gives many tips to employees on what to look for when people are cashing, and or depositing checks. He has developed a three-step system that all employees should follow. The first step he has is to be cautious of new accounts, because

1) As a cashier, you are responsible for whatever happens to your register; supposedly one day a customer’s credit/debit card would not read and they had no cash on them. What would you do?