PAYROLL AND PERSONNEL CYCLE CHART Journals needed for this cycle is the payroll journal and the general journal. In this cycle‚ transactions such as payroll taxes are checked to make sure they are deducted and remitted to the appropriate agency‚ and that payroll is accrued. The payroll and personnel cycle begins with the hiring of personnel and ends with payment to the employees for the services performed and to the government and other institutions for the withheld and accrued payroll taxes and
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Upon the completion of auditing the financial records of Apollo Shoes‚ Inc. it has been confirmed that there has been sufficient evidence obtained to support the audit opinion. There is a concern pertaining to the results of last year’s audit‚ because the audit was conducted last year by Smith and Smith CPA’s and VP of finance Mr. Unum has requested that we do not contact Smith and Smith. After careful review it has been determined that the issuance of an unqualified audit report would be appropriate
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nd nd 2 INTERNATIONAL CONFERENCE ON BUSINESS AND ECONOMIC RESEARCH (2 ICBER 2011) PROCEEDING GENERATION Y AND CHOICE OF MOBILE SERVICE PROVIDER: A STUDY ON THEIR PURCHASING DECISIONS IN CHOOSING A MOBILE SERVICE PROVIDER. Evelyn Toh Bee Hwa Taylor’s University Taylor’s Business School. toh.evelyn@taylors.edu.my Eva Lim Wei Lee UCSI University. evalim@ucsi.edu.my Robin Cheng Taylor’s University Taylor’s Business School. Robin.cheng@taylors.edu.my ABSTRACT The biggest group
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Apollo denied our request to speak with the predecessor auditors because of “litigation concerns.” I’ve looked at the 8-K filed by Apollo and the auditors referenced in the 10-K. I didn’t attach a copy because it didn’t say much‚ just something about “incongruent goals‚” blah‚ blah‚ blah. Against my advice‚ Arnold decided to accept the engagement anyway. Keep your eyes open! The good news is that the predecessor auditors‚ Smith and Smith‚ CPAs‚ have a good reputation‚ so you can use last
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GA-3 Prepared K.E;M.B.(1/13/2012) Apollo Shoes‚ Inc. Relevant Matters Based on Minutes (December 31‚ 2011) Information Relevant to 2010 Audit 1. Remarks by Apollo Shoes Inc. CEO Larry Lancaster in regards to the 10% projected increase in sales for the 2011fiscal year. (“Well they better increase by that much or heads will roll.”) GA-3.1 2. Majority vote by members of the board to internalize
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transactions‚ and analytical procedures for the following Apollo Shoes cycles: o Inventory and warehousing cycle o Cash cycle 1. Abstract‚ Inventory and warehousing cycle (tests of controls) YOLANDA 2. Intro‚ Inventory and warehousing (substantive tests of transaction) AMY 3. Conclusion‚ Inventory and warehousing cycle (analytical procedures) JUSTINIA 4. Cash cycle (Test of controls) ANNABELLE 5. Cash cycle (substantive tests of transactions and analytical procedures) JENNIFER Methodology
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Systems Over The Payroll Cycle • Internal Control Checklists For The Payroll Cycle • Tests Of Control Of Payroll • Internal Controls Systems Over The Stock Cycle • Internal Control Checklists For The Stock Cycle • Tests Of Control Of Stock INTERNAL CONTROLS OVER PAYROLL To understand the need for controls‚ it is helpful to break down the payroll process into its component stages. The table shows the various stages of the payroll “cycle”‚ together with:
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Apollo Shoes‚ Inc. Potential Problem Areas December 31‚ 2011 The following refers to the Comparative Trial Balances‚ GA-7.1 through GA-7.5: Accounts Receivable‚ Other Receivables‚ Allowance for Doubtful Accounts‚ Bad Debt ExpenseInventories and Reserve for Inventory Obsolescence Prepaid Insurance and Insurance Expense Machinery‚ Equipment‚ and Office Furniture Accounts Payable Taxes Payable Line of Credit Sales‚ Sales Returns‚ Net Sales – Relationship to Inventory Research & Development
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Apollo Shoes Audit Report Anderson‚ Olds and Watershed Certified Public Accountants 123 Main Street Upper Saddle River‚ NJ 00712 INDEPENDENT AUDITOR’S REPORT To the Stockholders Apollo Shoes‚ Inc. We have audited the accompanying balance sheets of Apollo Shoes‚ Inc. as of December 31‚ 2008‚ and the related statements of income‚ comprehensive income‚ shareholders’ equity‚ and cash flows for the year ended‚ and related notes to the financial statements. We have also audited management’s assessment
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Beginning the Audit ACC 546 June 11‚ 2012 Anderson‚ Olds and Watershed Phoenix‚ Arizona 85003 Mr. Larry Lancaster Apollo Shoes Phoenix‚ Arizona 85003 Dear Mr. Lancaster‚ The purpose of this letter is to make sure we have an understanding as to what the audit of Apollo Shoes financial statements will consist of for the year ending December 31‚ 2011. The objective of this audit of the company’s financial statements is to confirm that all aspects of the company are in compliance
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