ACC 599 Assignment 3 Durango Firm Analysis
FOR MORE CLASSES VISIT www.acc599study.com Financial management and accounting knowledge and skills Use of financial information by various stakeholders Capital budgeting ratios Outsourcing Economic and business Environment analysis Strategies Internal controls analysis Conclusion ===============================================
ACC 599 Final Exam Guide
FOR MORE CLASSES VISIT www.acc599study.com ACC 599 Final Exam Guide Final ACC 599 Question 1 Which of the following assertions would the auditor usually consider most relevant for accounts payable? Question 2 The Standards of the PCAOB can be broken up into three categories, i.e., general, fieldwork, and reporting. Which of the following concepts is considered in the reporting standards?
Question 3 Which of the following is a reason why an auditor needs an understanding of internal controls? Question 4 Which assertion addresses whether the financial statements items are properly classified in the financial statements? Question 5 What is the auditor's responsibility for testing internal controls when the auditor believes that the internal controls are effective and intends to rely upon them? Question 6 Which one of the following represents a control deficiency? Question 7 The PCAOB's AS No. 5 states that internal controls may be preventive or detective.Which of the following controls is preventive? Question 8 Which of the following procedures will an auditor use to better understand a client's internal control over accounting systems? Question 9 Which one of the following is an example of a conflict of interest for a CPA? Question 10 In what order is the AICPA Code of Professional Conduct presented? Question 11 What does utilitarian theory hold? Question 12 Independence in mental attitude is required of auditor on all audit engagements. What does this independence require? Question 13 The relationship between the sales cycle and an inventory system can best be noted in which of the following examples? Question 14 Which of the following must exist prior to the recognition of revenue by a company from the sale of a product? Question 15
A key indicator of fraud in the revenue cycle is the auditor's detection of which of the following? Question 16 The primary difference between positive and negative confirmations used in the audit of accounts receivable is which of the following? Question 17 All of the following are steps in an IT audit except Question 18 Control risk is Question 19 Tests of controls include Question 20 Segregation of duties in the computer-based information system includes Question 21 Which of the following is an example of a perceived opportunity that can lead to financial statement fraud? Question 22 What is the meaning of "short sell"? Question 23 According to study of financial statement frauds by the Committee of Sponsoring Organizations (COSO), who is the most common perpetrator of financial statement fraud? Question 24 Which ratio should be examined while analyzing the balance sheet to detect under recording of accounts payable? Question 25 Inadequate disclosure occurs when: ===============================================
ACC 599 Midterm Exam Guide
FOR MORE CLASSES VISIT
www.acc599study.com ACC 599 Midterm Exam Guide Midterm Exam ACC Capstone Question 1 The price/earnings ratio: Question 2 Interest expense creates magnification of earnings through financial leverage because: Question 3 What is the effect of the exercise of stock options? Question 4 A summarized income statement for Leveraged Inc. is presented below. The degree of financial leverage is: Question 5 The earnings per share is computed for: Question 6 Which of the following ratios usually reflects investors opinions of the future prospects for the firm? Question 7 Which of the following ratios is a primary measure of liquidity according to the corporate controller survey? Question 8 Which of the following variables indicates a measure of cumulative profitability over time? Question 9 Which of the following ratios is rated to be a primary measure of liquidity and the highest significance rating of the liquidity ratios according to commercial loan departments? Question 10 Which of the following is not a discounted cash flow model for valuation? Question 11 Which of the following depreciation methods is considered to be the least conservative?
Question 12 Which of the following ratios appears most frequently in annual reports? Question 13 Costs incurred when products and services fail to conform to requirements or satisfy customer needs after being delivered to customers are Question 14 ____ focuses on the relationship of activity inputs to activity outputs. Question 15 A costing system that first assigns costs to activities and then to products is Question 16 Costs incurred when products and services prior to being delivered do not conform to specifications or customer needs are Question 17 ____ are assigned using direct tracing and resource drivers. Question 18 Scrap and retesting are examples of ____ failure costs. Question 19 ____ can help a company become more competitive by providing more accurate cost data. Question 20 The capital investment decision making model that assumes that each cash inflow is reinvested at the project's own rate of return is Question 21 If the cash flows of a project are received evenly over the life of the project, the formula for the calculating the payback period is Question 22 The capital investment decision making model that assumes that each cash inflow is reinvested at the required rate of return is Question 23 Which of the following is a disadvantage of post audits? Question 24 The best model for choosing the best of several competing projects is Question 25
A follow-up analysis of a capital investment after it is implemented is called a ===============================================
ACC 599 Week 3 Assignment 1 Impact of the SarbanesOxley Act (SOX)
FOR MORE CLASSES VISIT www.acc599study.com ACC 599 Week 3 Assignment 1 â€“ Impact of the Sarbanes-Oxley Act (SOX) Assume that you are a CEO of a medium-sized company that needs a significant influx of cash for several expansion projects. As the CEO, you must determine whether your company should remain private or go public. Some companies postpone going public due to the unpredictability of economic and market conditions. Consider the ramifications of both alternatives. Construct an argument for and against going public. Before providing your response, review the guidelines and regulations associated with going public by visiting Small Business and the SEC located athttp://www.sec.gov/info/smallbus/qasbsec.htm. Use the Internet to research SOX law, located athttp://www.sarbanesoxley-101.com/sarbanes-oxley-compliance.htm. Write a four to five (4-5) page paper in which you: 1. Outline three (3) ways in which your medium-sized private company may benefit from going public, providing a rationale for each. 2. Create an argument that the same goals may be achieved if the company remains a privately held entity. Provide support for your argument.
3. When a company decides to go public, it can typically obtain capital by issuing stocks or bonds. Suggest four (4) leading financial ratios that will be evaluated and how each will impact the company’s decision to obtain expansion funds. Determine whether the results of the ratios would alter the decision to go public. 4. By researching the results of SOX compliance surveys, assess the financial impact that SOX might have on your company if it decides to go public. Considering the impact of SOX compliance, take a position as to whether your company can overcome the challenges posed by SOX compliance if the decision is to go public. Based on your research, support your decision by identifying the potential advantages and disadvantages that SOX may have on your company. Provide specific examples. 5. Make a recommendation as the CEO regarding the alternative (i.e., going public or staying private) that will best support the company’s expansion goals. Support your position. Use at least four (4) quality academic resources in this assignment. Note: Wikipedia and other Websites do not qualify as academic resources. ===============================================
ACC 599 Week 7 Assignment 2 Accounting and auditing enforcement
FOR MORE CLASSES VISIT www.acc599study.com ACC 599 Week 7 Assignment 2 – Accounting and Audit Enforcement Using the Internet, databases, or the Securities and Exchange Commission’s Website, located athttp://www.sec.gov/divisions/enforce/friactions/friactions2012.shtml, perform a search on several U.S. health care publicly-traded companies
and choose a health care organization that has been accused of committing health care fraud. Write a five to six (5-6) page paper in which you: 1. Evaluate the level of SOX regulations that applies to for-profit and not-for-profit health care organizations, indicating whether or not mandating SOX requirements for non-profits might reduce fraud and increase corporate governance. Provide support for your rationale. 2. Determine whether SOX has been effective in regulating ethical behavior of for-profit health care organizations. Defend your position. 3. Determine whether deficiencies existed in the IT environment, and suggest ways to improve audit trails, data integrity, and policies and procedures in order to reduce the risk of fraudulent activity. 4. Use at least four (4) quality academic resources in this assignment.Note: Wikipedia and other Websites do not qualify as academic resources. 5. Review the audit report issued by the external auditing firm from the companyâ€™s Website for the year it was accused of fraud. Then, determine whether the external auditors were negligent in preparing the audit report for the company. Formulate an opinion regarding which Internal Control was deficient or what GAAP was violated. Defend your position. 6. Determine what provision(s) of SOX was / were violated in the health care fraud case in question. Indicate whether or not SOX adequately provides sanctions to deter the behavior or if changes are needed to the regulations to remedy the issue(s) and thus ensure compliance. 7. Based on the fraudulent activity that occurred, recommend two (2) improvements to the internal control environment to reduce those occurrences. Provide detailed recommendations. ===============================================