The red flags in Crazy Eddie’s financial statements that suggested the firm posed a higher-than- normal audit risk include cash balance‚ inventories‚ and accounts payable. There was a drastic increase in the cash balance in 1985 from the cash balance in 1984 and it dropped in 1986 and 1987. This suggest that company did not leave much cash to operate. Inventories on hand increased from 1984-1987. Inventory turnover ratio dropped from 4.50 in 1986 to 3.22 in 1987. Days to sell inventory increased
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Crazy Eddie‚ Inc. Common Size Balance Sheets March 1‚ 1987 March 1‚ 1986 March 1‚ 1985 May 31‚ 1984 Cash 3.17% 10.47% 33.99% 3.76% Short-term investments 41.36% 21.14% 0.00% 0.00% Receivables 3.68% 1.77% 4.18% 7.12% Merchandise inventories 36.99% 47.16% 40.51% 63.83% Prepaid expenses 3.61% 1.86% 0.98% 1.41% Total current assets 88.81% 82.40% 79.66% 76.12% Restricted cash 0.00% 2.64% 10.77% 0.00% Due from affiliates 0.00% 0.00% 0.00% 15.69% Property‚ plant and equipment
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received competitive quotes for the painting work‚ the going rate for painting her house was about $4000. Her daughter also discovered that Duncan’s registration as a licensed painter had lapsed two weeks ago because he had forgotten to pay the renewal fee. The job is now complete and Duncan has asked Mary for $8000. Question: Is Mary contractually obligated to pay Duncan the $8000? Why? Ans: No‚ Mary is not contractually obliged to pay Duncan the $8000. In the given case‚ there are circumstances
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charge an entry fee‚ source sponsorship or Value In Kind(VIK) services or supplies. How to budget ~steps to follow: step 1 = set goals + initiate planning step 2 = establish objectives + identify event activities to accomplish goals step 3 = design plans + describe method of reaching the goals step 4 = budget preparation and approval + quantify income and expenditures based upon forecasts step 5 = seek quotations + source at least three quotations for the supply
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loading the goods on truck or container at the seller’s premises‚ and for the subsequent costs and risks. In practice‚ it is not uncommon that the seller loads the goods on truck or container at the seller’s premises without charging loading fee. In the quotation‚ indicate the named place (seller’s premises) after the acronym EXW‚ for example EXW Kobe and EXW San Antonio. The term EXW is commonly used between the manufacturer (seller) and export-trader (buyer)‚ and the export-trader resells on other
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I had been only 13 when I decided I wanted to make money. That was an easy thing to do‚ as all young teenagers have desires for things‚ and money is mandatory to buy such things. It was especially easy for me to decide this as I could see my family was struggling. But deciding you have the want for money‚ even if you have the will to work for it‚ and actually feeling the cold hard cash in your hands are two very different matters. I should really start this story with my first job‚ teaching guitar
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University of Cape Town FACULTY OF LAW GUIDELINES FOR MINOR DISSERTATION/RESEARCH PAPERS LLM and MPhil by Coursework and Minor Dissertation Postgraduate Diploma CONTENTS What is expected of a minor dissertation/research paper? ..................................... 2 Finding a supervisor ................................................................................................ 2 Expectations .................................................................................
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Crazy Eddie 1. 2 . If better‚ more complete audit procedures were performed‚ it is likely that many of the major accounting irregularities and fraudulent practices could have been uncovered. a) The falsification of inventory count sheets: The auditors could have conducted full physical inventory counts‚ or performed random inventory counts at warehouses or stores undisclosed to the management at Crazy Eddie prior to the tests. This would have prevented the management from strategically
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9. Stores include at a minimum: Wal-Mart‚ Target‚ King Soopers‚ and Walgreens 10. Can also be purchased online at any stores previously mentioned and on acnefree.com with an additional shipping and handling fee c. Ingredients and Products vi. 2.5% Benzoyl Peroxide is present in all three products sold in the kit 11. Benzoyl Peroxide is an organic compound in the peroxide family.
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SAQ OUTLINE: Explain the formation of stereotypes and their effect on behavior. • Definition: Stereotypes assign similar characteristics to all members of a group‚ despite the fact that the group members may vary widely from one another. • Characteristics: • social-cognitive theories: • our social world is very complex and presents us with too much information • since our capacity to process information is limited‚ there is a need to simplify our social way • one of the way to avoid information
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