Individual Assignment

Individual Assignment - Individual Assignment Internal...

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Individual Assignment: Internal Accountant’s Report to Management - Post to the <Assignment> link. You are the internal accountant at a company that is preparing for an upcoming government contract bid. The management in your company is deciding if it is necessary for the company to perform a full financial status review prior to the bid. As an internal accountant, prepare a report for management that provides supporting information for a full financial status review prior to the bid. In an APA-formatted paper, in no more than 1,050 words, include the following sections: Section I: The impact of occupational fraud and abuse on the company. Section II: U.S. governmental oversight of accounting fraud and abuse and its affect on the company. Section III: Potential corruption schemes to be aware of within the company. Section IV: Recommendation of types of accounting evidence and methods of gathering such evidence to support the financial status review. Internal Accountant's Report to Management You are the internal accountant at a company that is preparing for an upcoming government contract bid. The management in your company is deciding if it is necessary for the company to perform a full financial status review prior to the bid. As an internal accountant, prepare a report for management that provides supporting information for a full financial status review prior to the bid. Include the following sections: Metalico has requested that I prepare this bid for an upcoming government contract bid. My position with Metalico is I am an internal accountant with this position I am able to perform a full financial status review which will include a full financial status review. Section I: The impact of occupational fraud and abuse on the company. The impact of occupational fraud and abuse on the company can be devastating. It can reduce the revenues of the company, eat into the cash flows and can turn profits into losses. There are several ways in which occupational fraud and abuse can be carried out. Some of the common methods are fraud schemes that are carried out by the purchasing department. The most financially harmful frauds are those that are carried out in collusion. At an average a firm loses 5% of its revenue to fraud. Misappropriation of cash is the most common type of occupational fraud and abuse that is carried out in companies. Corruption is the next
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This note was uploaded on 11/17/2010 for the course ACC 556 taught by Professor Tilley during the Spring '10 term at University of Phoenix.

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Individual Assignment - Individual Assignment Internal...

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