ACCT 504 help A Guide to career/ ACCT 504 help A Guide to career/ - Page 3

Situation b. Nicole Lopez handles employee travel and expense reports f or Scott Sales Services. With the growth in the economy, the sales team began traveling extensively gaining new business. Because of the heavy volume, she no longer required the sales team to provide original airline, hotel, or car rental receipts. She told them to just keep their meals under the $100 per day per diem and no receipts were required. She allowed th em to use their own credit cards so they could get the frequent flyer poin ts. She required them to turn in a summary of the travel expenses quarter ly. Situation c. Michael Jordon is a new employee hired from Craigs List re commended by a co- worker. Mike was hired as a Human Resource Assistant. Mikes first day on the job he is told that he should follow his own judgments when deci ding how employee issues such as hiring and firing of employees, sexual harassment, and ethical infractions should be handled. Top of Form ? Requirements 1. Identify the missing internal control characteristic in each situation. 2. Identify each firms possible problem. 3. Propose a solution to the problem. ------------------------------------------------------------------------------- ACCT 504 Case Study 3 (Wang Appliance Store) For more course tutorials visit Construct and use a cash budget) Nathan Farmer, chief financial officer of Wang Appliance Store, is responsible for the company?s budgeting pr ocess. Farmer?s staff is preparing the Wang cash budget for 2014. A key