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Chapter 15 Discussion, 1. Research for entry In section 4 of this chapter we looked at “Why Accounting Information is so Important". One of the topics in that section was “Accounting Fraud". Famous Accounting Scandals The following firms have been convicted or accused of accounting fraud: Enron, Lehman Brothers, Fannie Mae & Freddie Mac, and AIG, to name just a few. Using an internet search engine, find information on a recent accounting scandal. • Title of your entry should include the name of the company, and the date or timeframe of the scandal, the more recent the better. Consider some of the following to guide your entry: • Summarize what this firm does, and how/why they got into trouble. • what type of questionable accounting practice occurred in this firm • what were the consequences for this firm and the executives involved in the scandal • how were the public/investors/economy affected by this firms dishonesty • Document cited works and all references, links are ассеptable.

Question 8 Why might an Accountant user not see the Exceptions to Closing Date report in a QuickBooks Online company? The Audit Log is not enabled A closing date has not been set in the company O The Accountant user does not have the required permissions to view the report The Exceptions to Closing Date report is not available in a Simple Start subscription

erd-2020 Fall T x spurs meaning Google Upitan Oregon Trail Map magnetic packag.. Señor Wooly How to Ens Your Board CP1-4 Communication There are two common causes of business and accounting fraud: • A failure of individual character • A culture of greed or ethical indifference within an organization Required: Write a brief memo describing how these two factors could lead to accounting fraud. Thread: Wnte Your response as reguested above, It should be in memo format as cholarly sources to

AGREE OR DISAGREE WITH STUDENT 2 ANSWER Buddy's behavior was undoubtedly unethical, careless and fraudulent.While I do understand that being the manager for a reputable company presents a certain level of stress and need to fulfill deadlines he simply should have known better than to falsely record any debits or credits in the trial balance. The trial balance is a record of all debits and credits in a double-entry account book, with any disagreement indicating an error.any dollar amount on the trial balance. I can confidently say that Buddy was trained better and knows his companies ethical policies and protocols especially in his field and should know better than to make such a bad choice. Furthermore, his decisions not only affect his company's reputation, staff and higher management but also affect the lives of small business owners who entrust him with their money and accounts. If his unethical choice is discovered or progresses it could completely ruin the credibility of his…

4. Assume that you will be up for a promotion next month and you'd like to impress your boss with your data analytic skills. The company you work for normally books the current month's bad debit for the same amount as the prior month's actual accounts receivable write-offs. Using general accounting knowledge, explain why this process is not the best method. 5. Briefly describe Benford's Law. Draw a graph that exemplifies data which conforms to Benford's Law (i.e., what it should look like). And, briefly describe how auditors could utilize Benford's Law while conducting testwork.

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Which accountant tool in QuickBooks Online helps identify transactions that may have been removed accidentally from the company file?   A. Reclassify Transactions B. Voided/deleted transactions C. Close Books D. Prep for Taxes

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Accounting This is a business law principle for today's commercial environment by Twomey| Jennings |Greene 5th edition Question-what do you think of the increasing amount of reliance on electronic interactions? Some banks now charge to return the actual canceled check and some think that it is only a matter of time before there will be a charge for dealing with a "real" teller. What are the repercussions, good and bad, of this move toward electronic financial transactions?

Most computerized accounting systems use electronic forms to record transaction information, such as the invoice form illustrated at the top of Exhibit 7 in this chapter.a. Identify the key input fields (spaces) in an electronic invoice form.b. What accounts are posted from an electronic invoice form?c. Why aren’t special journal totals posted to control accounts at the end of the month in an electronic accounting system?

A. Prepare the following for the year ended 31 December 2020 i. Statement of affairs as at january 1 2020 ii. Bank account iii.accounts payable and accounts receivable accounts iv. Income statement V.balance sheet

Q1. Suppose you are an auditor who has been tasked with looking into the internal controls at a company. How can you evaluate the company's internal controls to see if they are sufficient?                                                                                    Q2. Why do companies use the allowance method to account for bad debts? Describe the diverse methods used to estimate bad debts in an accounting system. Provide examples for each method.    LONG answer with explanation for these two questions

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A 70. Subject:- accounting

6 The mechanics of accounting involve analyzing the effect on the accounting equation of financial transactions. Knowing how transactions affect the accounting equation allows you to consider and account for all the ramifications of sometimes complicated transactions. You are mentoring an accounting intern who asks for clarification about trial balances. She wants to know if a trial balance balances, would that guarantee that the trial balance is correct? Consider her question. What possible errors could happen and still allow the trial balance to balance?