the supervisor tells you to change the aging category of a large account from over 120 days to current status and prepare a new invoice to the customer with the revised date and that agrees with the new category this will change the required allowance of uncollectible accounts from $180,000 to $135,000. Identify the key internal and external stakeholders. what are the negative impacts that can happen if you do not follow the instructions of the supervisor?

Q: Which preventive, detective, and/or corrective controls would best mitigate the following threat,…

A: The internal control is a process of assuring that all the assets are safe and all the recorded…

Q: Which of the following is NOT an example of application control?* a. Pre-filled forms are already…

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Q: Curtis, a maintenance supervisor, submitted maintenance invoices from a phony repair company and…

A: Answer:   Option C

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A: The Accounts Payable Aging Report is a detailed record of the amounts owed to a business by its…

Q: a) Should every company switch from the traditional three-way matching process (purchase orders,…

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Q: This is your first month working as a bookkeeper and you notice a discrepancy when trying to…

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Q: While in the process of posting from the journal to the ledger a company failed to post a $500…

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Q: Suppose you are working in an organization where your best friend is your colleague. One day due to…

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Q: Which of the following is NOT an example of an opportunity to commit fraud in the accounting…

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Q: You are currently working in a mid-tier accounting firm. In an engagement meeting with a client, the…

A: The audit agreement should only be accepted when the auditor is free to perform his roles. An…

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Q: What does it mean to say that internal control has limitations and what are these limitations?

A: Note: “Since you have asked multiple question, we will solve the first question for you. If you want…

Q: You will have the opportunity in this discussion to recommend adequate internal controls over sales…

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Q: 1.Is it fair for creditors to continue reporting late payments after the payments have been made?…

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Q: Based on the given scenario, outline your response to the management's proposal and mention any…

A: In the given case scenario, the management has proposed to use data warehouse instead of operational…

Q: Are any time lags in recording economic events typically experienced in payroll systems? If so, what…

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Q: Choose only one answer as well as state their reasons/rationale for the answer chosen. A customer…

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Q: Discuss any control weaknesses found in the flowchart. Recommend any necessary changes.

A:

Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.