While evaluating Apollo Shoes‚ there are some areas of concern that are potential fraudschemes. The fraud can lead to the entire collapse/demise of the company if not corrected.These will also affect the share value and investor confidence. An overview of the process of investigation along with recommendations for the company.As with any company‚ revenue recognition is an important part of operations of a ApolloShoes. As stated in GAAP standards‚ revenue generated must be realistic and recognizable
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The artwork‚ ‘Apollo and the Muses on Parnassus’‚ contains many similarities to the ancient roman style‚ as it depicts religious scenes and lustful romance. In the center‚ Mengs portrays Apollo as the sun god and leader of the patron arts‚ surrounded by the muses that follow him for guidance. The Muses that surround him are depicted with their specific
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ICC-Memo Apollo Date 10/14/12 Initials While working on some of the sales transactions 51 deviations were discovered. The majority 31 out of 51 were missing credit approval notations. Also 10 of these are still unpaid. This could indicate weak controls in the credit department which could leave the company with
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Apollo 13 was overall a very accurate movie‚ scientifically and factually. Of course there were things changed in order to advance the story and make the movie more interesting‚ but most of these things were very small. Apollo 13 was an Apollo mission that came after the first landing on the moon. The problem was that since the United States had already beaten Russia to the moon people weren’t sure why they needed to go back‚ so there were less resources and money going into this mission. The
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Similar to what you did with the Revenue Cycle‚ I want you to prepare a bridge working paper for the audit of Apollo Shoes as of December 31‚ 2007‚ listing the major errors that could occur in the purchasing system and to describe the test of controls procedures for auditing related purchasing controls to determine whether reliable control exists. I don’t think that Apollo has enough purchase transactions that we need to rely on the controls (in other words‚ we’ll look at them all)‚ but we need
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Date: 19 Jan 1:30:27 From: Dennis Reese Subject: Revenue Cycle Problems I have looked over Bradley’s report and yes we do have some issues with the Sales‚ and Account Receivables. The fourth quarter deviations overstated are the worst because they can have the most effect on the Financial Statements. The controls need to be more uniform as Bradley stated because then they would even out through the months instead of hitting us mostly on the fourth quarter. The company reports financial
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Disagreements‚ 2. Misplaced conflicts‚ 3. Nonsubstantive conflicts‚ 4. Substantive conflicts. Disagreements: A disagreement is a mild conflict and usually involves issues that are not necessarily related to the relationship. In the movie ’Apollo 13’ this situation of disagreement occurs two days before the launch. When the flight surgeon Dr.Chuck predicts that Ken Mattingly (one of the three members of the Astronaut team) may get serious illness during their expedition‚ Jim Lovell (captain
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Engagement Letter Apollo Shoes‚ This letter is to confirm our understanding of the terms and objectives of our engagement and the nature of the services we will provide. We will audit the consolidated balance sheet of Apollo Shoes as of year end 2007‚ and the related consolidated statements of operations‚ retained earnings‚ and cash flows. The objective of our audit is the expression of an opinion about whether your consolidated financial statements are fairly presented‚ in all material
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A Self Reflection: While working on the communication project‚ we were fortunate to have had Ron Howard’s “Apollo 13” movie for reference to comprehend the complexity the team faced upon the incident that befell the mission. Both Gene Kranz (Lead Flight Director and Project Manager) and Jim Lovell (Apollo’s commander) maintained absolute control of a chaotic situation. While the team was becoming intractable‚ Kranz reigned in by channeling the ideas with “one at a time people” and asking his engineers
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Leon manipulates Father Paul’s Ministry to serve his Pueblo’s purpose after the death of Teofilo‚ someone who could be seen as an important figure within the Pueblo’s. Silko changes the short story’s basic structure to accommodate for cultural representation and adaptation throughout the changes of time. The simple way of Silko’s storytelling may seem confusing or strange to some‚ but in the context of the story; it is necessary. Silko does not give any of the characters any type of individual personality
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