LBJ Company: Internal Control Evaluation Accounting 504: Managerial Use & Analysis Case Study 2 Written by: 8/10/13 This evaluation is being presented as an assessment of the preparedness of the LJB Company to go public at a future date. By researching current regulations regarding publicly traded firms we hope to prepare for a smooth transition into the trading market. The Sarbanes-Oxley Act of 2002 (SOX) has established the following guidelines
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To: President of LJB Company‚ Thank you for selecting our firm to provide your company with an evaluation of your organizations internal control system. Internal control systems are vital in securing your organizations assets‚ it will limit the risk of fraud as well as misuse of your assets. Comprehending how to separate duties among your employees will aid in improving transparency as well as keep your company financially strong. Before the company decides to go public it is important to know
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Accounting 504 Case Study 2 Keller Graduate School of Management Prepared by: Samara Ellison Prepared for: Professor Hicks 3 April 2013 To: LJB Company President From: Samara Ellison‚ Accounting Firm Subject: Evaluation of LJB Company’s Internal Control Structures Date: 3 April 2013 Hello LJB Company President: First‚ I would like to thank you for hiring my accounting firm to evaluate LJB’s internal controls system. This report will inform you of any new internal control requirements
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Internal Control Requirements for Publicly Traded Companies In a meeting last week‚ the president of LJB expressed interest of going public in the near future and asked us about the internal control requirements for such action. To become publicly listed‚ LJB must follow the Sarbanes-Oxley Act of 2002 (SOX)‚ which requires all US publicly traded companies to maintain an adequate system of internal control. Under SOX Section 404‚ a company must report on internal controls over financial reporting
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strument-valuation-securitization/financial-accounting-reporting/ipo-spotlight/index.htm Kimmel. Financial Accounting. 6. VitalSource Bookshelf. John Wiley & Sons‚ ‚ Tuesday‚ November 27‚ 2012. http://devry.vitalsource.com/books/9781118233634/id/B7-2 [pic]
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Business Organization HCS 567 Business Organization Starting any business venture has many challenges. One of the most important decisions to be made to help ensure success is choosing the correct business organization. In order to choose the correct type of organization it is important to understand each type of organization along with the pros and cons for each. Sole Proprietorship The most prevalent organizational type is the sole proprietorship. Sole proprietorship is usually found among
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Case study week 2 1. If your international firm were doing business in Asia‚ is there anything that your company could do to ease the tensions these cultures are experiencing? Be specific. If my company started or planned on doing business in Asia it should be my job to try and fit in with the culture of Asia with respect‚ not saying that I have to change my whole life to suit them‚ but for instance if you speak a language it should be my job to learn and speak and adapt‚ not come to Asia speaking
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Welcome to MKTG410 Advertising and Public Relations SUMA10-Sec B Assignment Week #2 – Case Study Instructor: Mark Preising Date: 7/18/2010 Case Study: 1. The three strategies are: 1. Introducing a new product 2. Refining or repositioning an existing product 3. Extending a product line The new Beetle is an entirely different product from the earlier version. Although it looks like its predecessor it has been upgraded to compete in today’s market. They have kept up with trends and took
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Ethics in Public Administration: Week 2 Assignment Case Study 1 Isabel Carter PADM505 October 19‚ 2014 Kennedy Maranga Dennis the city Manager is working late and he catches his new Budget Director Susan in a compromising situation with the Assistant City Manager. The employee policy prohibits this type of behavior between their employees. According to the City Code of Ethics this type of behavior is unacceptable and calls for dismissal. Ethics is not the act of controlling co-workers behavior
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Andre Young ACCT 504 Case Study 2 1. Establishment of responsibilities. Only one person handles all the finances and the petty cash is open for just about any one to manage and handle cash. Need to be retuned to no one can handle petty cash but a public accountant. 2. Segregation of duties. Their has to be some one overseeing every one in the company. Their has to be some one over seeing the accountants‚ the checks being written and some one controlling the petty cash. People are usually
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