inventories are tightly controlled so that overstocking and obsoescence are not normally a problem. inventory although not as liquid as  cash is subject to theft. Company’s finished packaged products are shipped immediately to customers, although large quantities of purchased merchandise are maintaind on hand. The personnel handling purchases and inventory transactions are, in general competent. Access to the warehouse is unrestrictd. what are the significant audit risks with reference to the relevant facts.

 

"Looking for a Similar Assignment? Get Expert Help at an Amazing Discount!"

Invent an entrepreneurial company and research it; develop financial pro forma; do an executive summary and elevator speech; and, as the capstone of the project, develop an exciting presentation for investors.This assignment is your project proposal.  You will propose the company to be formed, provide preliminary information about it, and discuss how you will research its viability and strategy.

Write a paper on the new enterprise that addresses at least the following seven sections:

• Company & Product
• Description
• Industry
• Customer
• Competitor Analysis
• Marketing Plan Research
• Primary and Secondary Research

Make sure paper body starts with a summary where there is a statement of thesis (overview of the points to be made), continues with a discussion (or specific answers to specific questions), and ends with a conclusion. The seven specific sections should be annotated and have specific answers.

All papers should be written in the third person (he, he, it, and they). Make every effort not to shift to second person (you, your) as in, “When starting a company you need money.” Try to avoid shifting to the first person (I, we) as well. It is distracting to the reader and bad style to shift persons in a paper—students often do it in the middle of a sentence.

The requirements below must be met for your paper to be accepted and graded:

• Write between 750 – 1,250 words (approximately 3 – 5 pages) using Microsoft Word in APA style, see example below.
• Use font size 12 and 1” margins.
• Include cover page and reference page.
• At least 80% of your paper must be original content/writing.
• No more than 20% of your content/information may come from references.
• Use at least three references from outside the course material, one reference must be from EBSCOhost. Text book, lectures, and other materials in the course may be used, but are not counted toward the three reference requirement.
• Cite all reference material (data, dates, graphs, quotes, paraphrased words, values, etc.) in the paper and list on a reference page in APA style.

References must come from sources such as, scholarly journals found in EBSCOhost, CNN, online newspapers such as, The Wall Street Journal, government websites, etc. Sources such as, Wikis, Yahoo Answers, eHow, blogs, etc. are not acceptable for academic writing.  

 

"Looking for a Similar Assignment? Get Expert Help at an Amazing Discount!"

Inventory Valuation and Earnings

Santiago, Inc., began operations as an importer of fine Chilean wine to the United States. Sales and purchase information is provided below.

 Year 1Year 2Year 3 Units $Units $Units $Sales250  140  300  Purchases300@$10200@$15?@$20Ending Inventory50@$1050@$10       60@$15   

Santiago, Inc., uses the LIFO method of inventory valuation. The purchase amount for Year 3 has been left blank because the company has not yet decided the total number of units to purchase during the year. (Assume that all sales occur on the last day of the year, after all purchases for the year have been made. The company’s year-end is December 31.)

Required

1. How many units should be purchased in Year 3 if the firm’s objective is to minimize income taxes for the year?
2. Answer
3. Compute the cost of goods sold for Year 3 assuming that the number of units computed in (1) is purchased.
4. $Answer
5. How many units should be purchased in Year 3 if the firm’s objective is to maximize reported income for the year?
6. Answer
7. Compute the cost of goods sold for Year 3 assuming that the number of units computed in (3) is purchased.
8. $Answer

 

"Looking for a Similar Assignment? Get Expert Help at an Amazing Discount!"

Inventory observations involve an auditor understanding the company’s planned counting procedures, so that the auditor can conclude the count was adequately planned and executed. You are one of a number of staff auditors observing the inventory taking at a client’s warehouse – the products in the warehouse are retail electronic products (TV’s, stereos, etc). Your test counts indicate that one client counting team is making what appears to be a number of mistakes, both over and under counting. Indicate in one or more paragraphs what you would do as a result of noticing this activity.

Inventory audit issues during audit of a retail business. The very basic requirement of an inventory audit is the categorization of the inventory. Inventory Categorization ismainly done on ABC…

 

"Looking for a Similar Assignment? Get Expert Help at an Amazing Discount!"

Investigation of the economic indicators of Hong Kong. Economic indicators should include Unemployment, Housing, Consumer price index, Industrial production, Gross domestic product, Broadband internet penetration, Retail sales availability of resources both human and natural resources.

 

"Looking for a Similar Assignment? Get Expert Help at an Amazing Discount!"