Case Study 2 -Internal Control 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
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LJB Company: Internal Controls LJB Company: Internal Controls Contents Introduction 3 Internal Control Requirements 2 Strengths and Recommendations 2 Violations 3 Conclusion 4 Works Cited 4 Introduction LJB Company has asked the accounting firm to evaluate their system of internal controls because of the plan to go public in the near future. The president wants to be aware of any new regulations required of his company if they go public. The current system of internal controls
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Internal Control Being that LJB Company is still a small company with faith in their long term employees puts LJB in an advantage over competitors. Having long term employees show and express the loyalty towards the company. There is one advantage of LJB Company being a small firm as we are approaching our initial public offering. Because of some small issues that will need to be resolved as per internal control requirements‚ LJB being a small firm it should be easier to bring change with implementation
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reliable and effective. As with any business‚ the transformation of going from a private to public requires some extensive planning and preparation. It is recommended that LJB being a relatively small sized company in terms of its employees should reevaluate the costs versus the benefits of being a public traded company. If LJB decides to issue stock it would be wise to answer the following questions How many shares should be authorized for sale? How to issue the stock? What value should
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LJB COMPANY | Internal Control | REQUIREMENTS AND REVISIONS | Prepared To: LJB Company’s President Prepared By: Yenny Gutierrez6/03/2013 | TABLE OF CONTENTS Introduction New Internal Control Requirement 4 Establishment of responsibility 4 Segregation of duties 4 Documentation procedures 4 Physical controls 4 Independent internal verification 5 Human Resources controls 5 Reviewing LJB Internal Controls 5 Pre numbered invoices 5 Ink machine
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All publicly trader companies in the USA are required to maintain and have an up to date system of internal controls. Since the LJB Company is wishing to become a public entity‚ I am glad to be able to assist in this action. First‚ the rules and regulations must be reviewed and compared to the company and how it can become public. To make the company attractive to buyers‚ investors‚ and other capital sources‚ it is crucial that the corporate organization and governance are well manifested. Corporate
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International Distributors International Business Networking Seminar Kevin Hanske - 3104007 Angga Surya Pradana - 3104008 INTERNATIONAL BUSINESS NETWORKING PROGRAM - “Y” CLASS UNIVERSITY OF SURABAYA - FACULTY OF BUSINESS & ECONOMICS 2013 Foreign Distributors When selling products in foreign markets‚ a firms should maintain relationships with local distributors over the long term even after establishing their own local network to handle major clients. In theory‚ local distributors provide
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(February 1). The Case: The Darby Company manufactures and distributes meters used to measure electric power consumption. The company started with a small production plant in El Paso‚ Texas and gradually built a customer base throughout Texas. A distribution center (DC) was established in Ft. Worth‚ Texas and later as business expanded to the North‚ a second distribution center was established in Santa Fe‚ New Mexico. The El Paso plant was expanded when the company began marketing its meters in Arizona
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Sorzal Distributors 2 Identification of the Strategic Issues and Problems Sorzal distributors is a nationally recognized importer and distributor of a wide variety of South American and African artifacts and a major provider of southwestern Indian authentic jewelry and pottery. Based in Phoenix‚ Arizona‚ the company is a well established organization that has built its reputation on customer satisfaction through the verification of every piece of artifacts it imports. Expansion of the company
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pressure from the firm’s clients. However‚ the new offerings only account for a small percentage of Sorzal’s sales. 2. How would one define Sorzal’s Business? How might accepting the contract affect Sorzal’s Business definition? Sorzal’s is a distributor of primarily authentic items that sell at high value to a customer base‚ which is interested in the authenticity of the items. This differentiates them from their competitors because they have a reputation of selling unique‚ authentic pieces. To
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