Mitchem Lethbridge Ltd. is an individual franchise of the parent company Mitchem Office Corporation, which holds a contest every third year to award the franchise with the greatest improvement in net income. This year the Lethbridge franchise has won the contest, however the Halifax franchise, who had a net income increase of 60%, contends that Lethbridge’s financial records have been manipulated to reflect higher net income numbers. The Mitchem head office has asked us to look at the financial records and interview the Lethbridge management to determine if an audit is required because of suspect manipulations to the statements. We also have been required to suggest some improvements to the contest rules to the Mithcem head office. The Lethbridge franchise is currently solely owned by Lisa McGovern and had been going through a tough year in 2010. At the end of the period they made many adjustments that had negative effects on the net income in the 2010 year and positive effects towards the net income of the 2011 year. These issues and the effects they had on net income will determine if there is a need for an audit. They will also help provide insight to determine any improvements that can be applied to the rules of the contest to ensure the future winners are indeed complying with the rules. Improvements would also help curb franchises towards the purpose of the contest, which is to be continually improving net income each year. After determine Mitchem Lethbridge Ltd. Financial statement, we comment on some issues them may address, and…
The next day, Antonio, who had no idea that Carrie had already sold the books to Norvel, told…
Grant Madill worked in a company called Potter & Associates for several years. He started dating a coworker named Jane Barry, who he eventually married. However, in the company’s policy the company does not prohibit dating coworkers, but it does have a policy forbidding married couples from both being employed by the organization. Since Grant married Jane, he clearly breached and violated the company’s policy. The policy specifically states that, if two coworkers at Potter decide to marry, then the less senior of the two will have resign. Therefore under this policy, the management of Potter expected Grant to resign when he and Jane got married, as he had less seniority than Jane. Grant did not want and refused to resign, thereafter being…
Emens & Wolper Law Firm, LPA is a law firm that is located in Columbus, Ohio. Their experienced legal services include family business, oil and gas, estate planning, real estate, business succession planning, corporations and LLCs, and more. Their other areas of practice include purchase and sale of businesses, litigation assistance, probate, water, coal, sand, gravel, asset protection, and rights-of-way and pipeline easement issues. Emens & Wolper Law Firm, LPA aims to deliver the finest legal counsel possible.…
Paul Polishan apparently dominated Leslie Fay 's accounting and financial reporting functions and the individuals who were his subordinates. What implications do such circumstances pose for a company 's independent auditors? How should auditors take such circumstances into consideration when planning an audit?…
Alexander and Thurston, Inc. is a mail sorting equipment company providing high quality service to their customers. The increasing pressure to live up to the service contracts let company start to rethink about their current inventory control strategy from both their distribution center (DC) and facility. The challenge of this company is to reduce their inventory level while maintaining the high fill rate and further improving their service level.…
1. What was Harry Wiley's message? Did he relate it properly? How would you have received it?…
Inflation erodes the purchasing power of a bond 's future cash flows. A rise in inflation will cause investors to demand higher yields to compensate for inflation rate risk. Also, prices will tend to drop because the bond will be paying interest with less purchasing power.…
This paper is supported by an interview to Lorna Fermin, Case manager, South end Community Health Center, 1601 Washington Street Boston MA 02141. This is an assignment for Case Management in Human Services Class for Professor Frank Militello.…
The grocery industry has a relatively high market commonality; a lot of grocery stores are somewhat related in terms of technologies used, labor force and the products or services offered in the stores. Differentiation with other competitors is key for survival in this highly competitive industry.…
The form of legal organization that I chose and I felt to be most advantageous to my company is establishing or having a sole proprietorship. I felt that this form is appropriate because having a sole proprietorship style of business, means that the business is possessed and ran by one person. And as I stated and presented within my business plan, that the company Handy Mann Inc. is owned and operated by Robert Streater and no one else. It is a company ran by a sole proprietorship legal organization. If I had to choose of which type of liability my company possessed, it would have to be a limited liability over unlimited liability.…
LJB Company, a local distributor, has asked your accounting firm to evaluate their system of internal controls because they are planning to go public in the future. The President wants to be aware of any new regulations required of his company if they go public so he met with a colleague of yours at a local restaurant. The President of the company explained the current system of internal controls to your colleague. Your colleague has since been promoted to a tax position so she has passed on the information below so you can generate recommendations for the partner at your accounting firm to share with the President of LJB Company.…
Spring Semester Intern New York Start Date Negotiable Bessemer Venture Partners (BVP) is the oldest venture capital firm in the world, carrying on a tradition of growth investing that has continued since 1911. With a presence in Silicon Valley, Boston, New York, Israel, India, Russia, and Brazil, the firm manages one of the largest venture and growth equity funds in the industry. Over the past 30 years, BVP has taken more than 100 companies public and generated top-decile venture returns. BVP was an early investor in countless companies that have fundamentally changed industries, including Skype, LinkedIn, Pinterest, Yelp, Diapers.com, OLX, Postini, Twilio, Cornerstone OnDemand, VeriSign, BladeLogic, HotJobs, Gerson Lehrman Group, LifeLock, Gartner, Parametric, Staples, Veritas, Parallels, Sports Authority, and Millennial Media. BVP invests across investment stages and across all areas of high technology—including Internet, software, digital media, cleantech, biopharma, healthcare IT, and financial services. BVP is seeking an intern to research and identify investment opportunities in the mobile gaming sector. This is roughly a 10 hour per week unpaid commitment and will primarily involve: Research in the mobile gaming ecosystem and identification of leading mobile gaming businesses. Proactive outreach and conversations with CEOs of leading mobile gaming businesses. Attendance at mobile gaming industry conferences. The internship will provide candidates with the opportunity to develop venture capital experience at one of the leading venture firms and develop strong insights and relationships in the mobile gaming industry. Job Requirements Intellectual curiosity and passion for technology/entrepreneurship/investing. Comfort proactively contacting and speaking directly with CEOs of companies. Minimum ten hours per week unpaid commitment. If you are interested in the internship, please send your resume to Brian Feinstein at brian@bvp.com.…
usually 3 years or less, at an agreed-upon price. The borrower pays an option fee,…
Campbell and Bailyn’s Boston Office: Managing the Reorganization Case Study Analysis Principles of Management- July 2012 Synopsis • Fixed Income Division: International Investment Bank’s Securities Brokerage division facing rapid change • New Products flooding the markets, structural cyclical industry change challenges the limits of firm’s expertise and its traditional form of organization. • Kevin Winston, RSM Manages Boston Office and maintain high level of sales. • Created Key Account Team (KAT) to increase sales of specialized, higher margin products.…