In the Goodner Brother’s case‚ the company has a “sloppy accounting practices and lax control over its inventory and other assets.” The key internal control weaknesses that were evident in the Huntington unit’s operation are control environment weaknesses‚ control activities weaknesses and monitoring weaknesses. 1. Control environment– Management’s attitudes‚ awareness and actions concerning controls Management’s philosophy and operating style plays an important role in the Goodner case. Goodner’s
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Goodner Brothers‚ Inc. Internal Control Issues 1.List what you believe should have been the three to five key internal control objectives for Goodner’s Huntington sales office. 1. Assets Safeguard The padlock and other some security are used as a physical protection of Goodner’s inventory from stolen by unauthorized person. 2. Authorization of Transaction Goodner’s policy said that the new customer required an approval of the sale manager for the credit sale. The objective of this
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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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Goodner Brohers‚ Inc. 1. List what you believe should have been the three to five key internal control objectives of Goodner Brohers’ Huntington sales office. A. Goodner’s executives should focus more attention on internal control measures rather than volume in order to have operating activities with efficiency. Although sales volume is related to profits‚ the company could not scrimp on operating expenses. Goodner should make sure there is a good and healthy environment when achieving high
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In this particular November 2016 case‚ two weeks’ worth of labor pounded into four‚ 24-hour days. Along with an unlikely team of feisty mothers‚ children‚ grandmothers and a group of all-around “good guys” ranging from age 60 to 10 years old‚ the Bates Brothers led the charge to change and save a family’s life with one of their “crete” houses. 43 percent of Navajos subsist below the federal poverty
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The Curious Case of Clark’s Brothers by Stuart Greig for RIZE USA Productions Channel 4‚ is about the tragic story of two brothers Michael‚ 42‚ and Matthew‚ 39 year olds of United Kingdom‚ who have developed an age-reversing disease‚ which leaves them behaving like young children. They both had jobs before and were able to have normal relationships until their mannerisms became more and more childlike… just like the film the Curious Case of Benjamin Button that starred Brad Pitt. Their form of the
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Big Brother Case Study The core issue on the hands of the Big brother agency is that the volunteers are scarce and the total matches between big and little brothers have dropped by 40% over the past 2 years. There are a number of boys in the waiting list sometimes for even 2 years anticipating to be matched with a big brother. Problems Identified: Recruitment and retention of volunteer Big brothers are crucial issues for the organization‚ increasing the comfort zone for the volunteers. The
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1. Background Harrison Brothers Corporation is one of the largest traditional department stores in the United States. The goal of the company is to become the leading chain of department stores that sells high quality clothing to middle-class and fashion-concerned customers. Like other companies in the retail industry‚ Harrison Brothers are experiencing various changes in customers’ buying preferences. In addition to that‚ the problem of retention of well-trained‚ highly motivated salesman and managers
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seldom happened. Eventually‚ the brothers were considered suspects. The media reported on the abnormal luxuries Erik and Lyle were purchasing. As well as releasing that the men inherited 14.5 million dollars. The case became controversial when Erik and Lyle admitted to being sexually abused by their father‚ therefore being able to use the self-defense plea. The media aided the prosecution by painting them as money hungry‚ affluenza gone wrong and liars. This case also sparked the debate if males
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Haley Ankenbauer Lehman Brother’s Discussion Questions Question 1: The financial position of Lehman Brothers on September 14th was that they were facing bankruptcy. The firm’s liquidity problem was much more than they expected. Just 5 days earlier the firm’s management had assured the board that they had $42 billion in liquidity. The firm actually had much less than this. This problem was very serious and the firm did not know what to do. Companies like JP Morgan kept pulling money for collateral
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