Howard Street Jewelers‚ Inc. A. Synopsis Howard Street Jewelers Inc. is a small retail business owned by Mr. & Mrs. Julius Levi for more than 40 years. Undoubtedly‚ the company had its ups and downs. It survived its previous sales slack by cutting costs. Currently‚ the business is experiencing a continuous downward spiral of its cash position notwithstanding the safety measures the company had taken. With that‚ Mrs. Lore Levi got alarmed that the jewellery company might close. Mrs. Levi
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Case: Goodner and Howard Street Jewelers Cases Student Name: Shucong Li Date: 09.16.2014 I. Three conditions of Fraud Triangle: 1. Incentive or pressure to perpetrate fraud： a) Excessive pressure for management to meet third party expectations b) Financial stability or profitability is threatened c) Management’s personal financial situation is threatened 2. Opportunity to carry out the fraud a) Nature of the Industry or entity’s operations b) Complex or unstable organizational structure c) Ineffective
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internal control concepts that could have prevented Betty’s embezzlement from the company. • Segregation of duties: Betty had responsibilities in too many areas. She maintained the cash‚ the cash receipts‚ and the sales records for Howard Street Jewelers. This not only provided Betty with plenty of opportunity‚ but also gave her the means to conceal the theft. • Authorization of transactions: Betty was able to put items on layaway without authorization from management. • Physical controls: Cash
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any real responsibilities to pursue the matter any further. However‚ if he suspected something was amiss he should have discussed it with the Levi’s to let them know there may be a problem. In addition to preparing tax returns for Howard Street Jewelers‚ alternately assume that the CPA (a) audited the business’s annual financial statements. If the CPA were their auditor‚ he would have a responsibility to bring any hint of fraud to the attention of the audit committee. (b) reviewed the annual
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Henne Jewelers Refund Policy RETURN POLICY If you are not completely satisfied with your purchase‚ you may return the unworn item to us within 30 days of the sale date for either a refund or exchange. If 30 days have elapsed since your purchase‚ unfortunately we can’t offer you a refund or exchange. In order to be eligible for a return‚ your item must be unused and in the same condition as you received it. It must also be in the original packaging. A sales slip must accompany all refunds and exchanges
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After reading‚ “The Jeweler Wallace Chan: “The Stone Is Me‚” I believe that the making of jewelry isn’t easy‚ and it requires a lot of time and dedication. In this article they talked about Wallace Chan and his path to how he ended up doing what he loves most‚ making jewelry. But not just any jewelry. Each of his pieces mean something to him‚ he makes it with all of his love‚ and all of his pieces are technically his children. Wallace Chan started out working with his family making plastic flowers
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1. The internal control concepts that the Levis ignored were a. Segregation of duties - No one person should be responsible for all transactions from the beginning to the end. Betty had too many responsibilities that were interwoven and should have been performed by more than one person. She handled the cash that came in‚ maintained the cash receipts and the sales records. Another concept that this relates to is that no one individual should perform more than one of the following; recording transactions
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Michael Hill Jewellers (MHJ) is one of the most recognizable names in the New Zealand retail jewellery industry. In 1979‚ Michael Hill opened his first store in Whangerei. Until then‚ jewellery stores had been run primarily by craftsmen jewellers. Michael Hill changed this with the philosophy “to make jewellery buying less intimidating and more accessible to the public.” In order for any company to succeed‚ it has to take a look at the environment in which it operates. This is why an external environmental
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analysis of humankinds are well-presented in his tragedies. Even though they have bad deeds‚ tragic characters in Shakespearean plays are not evil in their natures. Most scholars agree that being tragic does not mean being cruel and evil. R. N. Hallstead and John Arthos mention innocent and pure soul of Othello in their articles. This theory can be analyzed with the help of one of the important characters in one of the important plays by William Shakespeare: Othello‚ The Moor of Venice. According
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Philosophy Paper Crystal Watson Philosophy Paper Since the beginning of the twenty first century‚ there have been changes in our global economy and multifaceted world that has shifted the culture of the United States education system. Because of this shift‚ most educators have taken on the responsibility to change the way they teach‚ what they teach and change or enhance resources to help them the (educator) keep up with the forward momentum in education. This holds true especially for the
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