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Internal controls are methods and strategies used to keep information and inventory safe from theft and to easily tell if something is compromised or missing.
In this assignment, you will recommend internal controls for safeguarding inventory from an accounting perspective and explain which financial statements are homework help papers by missing inventory. One of your friends has opened a new wholesale electronics business and wants your help figuring out some inventory issues they are facing. One night last week, there seemed to be fewer HD televisions in the warehouse than they expected.
As they looked around, homework help papers, they saw that the evening warehouse worker was filling the last orders of the day. The delivery driver and day warehouse worker were gone for the day, and the delivery van keys were on the desk that the warehouse workers shared.
The doors to the loading dock were open, as was the door to the office area where the accountant, two customer service specialists, and the owner worked. Knowing that you are familiar with accounting principles, they asked for your help in figuring out how to prevent this in the future. Based on what you have learned about internal controls, provide recommendations on what controls the business owner should put in place to prevent loss of inventory and ensure that any losses are reported immediately, homework help papers.
Also, specify which parts of the financial statements are affected homework help papers these losses. Submit a 1- to 2-page Word document with point Times New Roman font, double spacing, and one-inch margins. Sources should be cited according to APA style. We always make sure that writers follow all your instructions precisely.
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An admission essay is an essay or other written statement by a candidate, homework help papers, often a potential student enrolling in a college, university, or graduate school.
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You can use this option as many times as you see fit. This is free because we want you to be completely satisfied with the service offered. Home Analytical Essay Sample Crime Sample Essay Order Now My Account. My Account Home Analytical Essay Sample Crime Sample Essay. Module 4 — accounting Accounting Southern New Hampshire University Overview Internal controls are methods and strategies used to keep information and inventory safe from theft and to easily tell if something is compromised or missing.
Scenario One of your friends has opened a new wholesale electronics business and wants your help figuring out some inventory issues they are facing. Prompt Based on what you have learned about internal controls, provide recommendations on what controls the business owner should put in place to prevent loss of inventory and ensure that any losses are reported immediately, homework help papers.
Specifically, homework help papers must address the following rubric criteria: Role of Internal Controls Explain the role of internal controls in homework help papers settings. Also explain how not having internal controls in place may impact the accurate analysis of any wrongdoing. Recommend at least one control that should be put in place to alert the owner if homework help papers is actually missing.
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