Bsbwor501 Week 1 Assignment

Improved Essays
Bobby Weir graduated from a major state university in May of 2015 with a bachelor's degree in accounting. During his college career, Weir earned a 3.75 grade point average and was involved in many extracurricular activities, including the accounting honor society. His closest friends often teased him about his busy schedule and the fact that at times he was a little too "intense." During the fall of 2014, Weir interviewed with several large corporations as well as a number of public accounting firms. After considering all of his offers, he accepted an entry-level position on the auditing staff of Lesh and Mydland (L&M), a “Big 10” accounting firm. Weir was not sure if he wanted to pursue a partnership position with his new firm but he believed this was the best spot for …show more content…
In late June 2015, he was assigned to work on the audit of Rose Corporation, a large manufacturing company with a June 30 fiscal year-end. Weir's immediate supervisor was Johnny Pirelli, a third-year senior. On Weir's first day on the job, Pirelli informed him that his first assignment would be to audit Rose’s cash accounts and assist with accounts receivable. Weir was excited about his first assignment and was particularly pleased that he would be working with Pirelli (a CPA and CFE). Not only was Pirelli known for having an excellent rapport with his subordinates, but it was rumored that he was being groomed for a position that would oversee the fraud investigation work of L&M.
Like many newly hired staff auditors, Weir was apprehensive about his new job. Although he believed he understood the purpose of his position as a staff auditor, he was not sure that his staff training seminar and his one college auditing course had adequately prepared him for his new work role. After being assigned to work under Pirelli's supervision, Weir was somewhat relieved.

Related Documents

  • Improved Essays

    I am an accountant, who has asked by Denise Cook to provide her with advise. The Cook family had received their financial statements and they were concerned about some aspects of the statements. The Cook family believes that Mr. Ngo isn’t acting in good faith and is trying to cheat the Cook family of money that is rightfully owed to them. It is my job to provide a detailed report that analyzes aspects of the financial statements.…

    • 619 Words
    • 3 Pages
    Improved Essays
  • Great Essays

    Morenci is the largest copper mine in North America. Just before Richard started working there, they had set the world record for the highest production open pit mine in the world – 12.4 million tons of material were moved in 24 hours. It is geographically located in eastern Arizona. The mine is run by a company called Phelps Dodge. Approximately 2,000 people work at the mine.…

    • 1798 Words
    • 8 Pages
    Great Essays
  • Improved Essays

    Andy Wirth Essay

    • 458 Words
    • 2 Pages

    Andy Wirth is best known for his position as the CEO of Squaw Valley Ski, but there is more to this man than just his love of skiing and his keen business acumen which has made him a very successful man. He is a multi-faceted individual who pursues not only a wide range of professional interests but a great many personal and philanthropic ones as well. Andy Wirth is one of the most successful CEOs in the highly competitive and lucrative mountain resort industry but that has not prevented him from taking on additional challenges such as the founding of the Wounded Warrior Support Ironman Team which raises money for the Navy SEAL Foundation, tackling numerous environmental projects and community improvement programs and most recently taking on the challenging role of…

    • 458 Words
    • 2 Pages
    Improved Essays
  • Improved Essays

    Job Offer Negotiations Joe Tech is a recent MBA graduate negotiating the job offer for his first permanent position. The position offered is with a leading technology company in Silicon Valley, Robust Routers, for which Joe was an intern the prior summer. He performed well during the internship and his manager, Leigh Bultema, offered him a permanent position. The offer was for the Associate Produce Manager position in the Terabit Router Group and included the following: The offer was made in August of 2009 and Joe has only a week to accept or decline the offer. Joe has chosen to negotiate the offer to increase his compensation and avoid relocation from his home in Nashville, TN.…

    • 839 Words
    • 4 Pages
    Improved Essays
  • Great Essays

    Case Study Globe Alive

    • 1642 Words
    • 7 Pages

    SITUATION ANALYSIS PART 1 – GENERAL ANALYSIS Globe Alive Inc. is a software company based in Edmonton, Alberta. Their market focus is to assist Canadian companies that are operating business with a foreign company, specifically in the network design and servicing area. The company was expected to be a large office with 250 people recruited; however, they never did grow to their intended target size but they managed to become medium-sized firm. Also, Stan Ryder, one of the original founders and previous CEO of GAI, had recruited mainly his friends from different Edmonton-Based businesses to create the original executive team. Therefore, the company had never recruited a senior executive outside of the organization up until Helmut Schwartz.…

    • 1642 Words
    • 7 Pages
    Great Essays
  • Decent Essays

    Tell me, is or was Parminder an Industrial Engineer or something like that?? Or has he been with the company for a very very short time?? He is answering the questions so literally.…

    • 65 Words
    • 1 Pages
    Decent Essays
  • Improved Essays

    The source of problem for Bausch and Lomb was the chief executive, Daniel Gill. Gill created great pressure for the employees of B&L to generate revenue. He wanted to increase sales at any cost. In regards to the audit risk model, the inherent risk was very high.…

    • 724 Words
    • 3 Pages
    Improved Essays
  • Improved Essays

    Slide 1 (Biography)- Jeffrey Preston Bezos was born January 12, 1964, in Albuquerque, New Mexico, to 19-year-old Jacklyn Bezos and Ted Jorgenson. Growing up, he lived in Albuquerque, New Mexico, Houston, Texas, and Miami, Florida, though, currently, he lives in Medina, Washington. He grew up during a time when the internet was just starting out and forming, letting him explore the different options the internet had to offer before it became well known. Slide 2 (Childhood)- When he was around age 1, Bezos’ father left him, though, at age 4, his mother remarried to Miguel Bezos, who Jeff thought was his real father growing up. He also showed a strong interest in mechanics from a young age.…

    • 525 Words
    • 3 Pages
    Improved Essays
  • Great Essays

    Debits always balanced credits prior to closing, and after books were closed, assets were in balance with the total of liabilities and equity accounts. The aging receivables balance was in balance with each individual customer balances. But, the auditor could have used different other techniques to detect a possible fraud. Had he chosen to follow the active approach he would have seen many red flags.…

    • 1441 Words
    • 6 Pages
    Great Essays
  • Improved Essays

    Worldcom Fraud Essay

    • 714 Words
    • 3 Pages

    The fraud was perpetrated in two ways. First, reserve accounts were drawn down to boost earnings. However, when the reserve accounts eventually ran out of money, Scott Sullivan ordered the accounting staff to treat line costs, which should have been treated as expenses, as capital assets. This accounting treatment was against the Generally Accepted Accounting Principles, which should have been used by WorldCom’s accounting department. By classifying the line costs as capital expenditures instead of expenditures, WorldCom was able to write off the line costs over a longer period of time giving the company an instant boost to current profits while showing an increase to assets in the balance sheet.…

    • 714 Words
    • 3 Pages
    Improved Essays
  • Great Essays

    Computer Education Timeline

    • 5723 Words
    • 23 Pages

    ? James M. Atkinson http://www.linkedin.com/in/jamesmatkinson/ 127 Eastern Ave, #291 | Gloucester, MA 01930?|?(978) 551-1880?|?jmatk@tscm.com Executive Summary Over 40 years of experience with a wide variety of high performance mainframe, desktop, and embedded computers. Component level experience with computers, switching systems, cryptographic, and space communications systems.…

    • 5723 Words
    • 23 Pages
    Great Essays
  • Improved Essays

    The case study clearly shows the firm’s business strategies, their opportunities as well as their competitive advantage in the market. That notwithstanding, there are a lot of limitations that encounter the specific firms. Clearly, the merger which was facilitated by Marsh & McLennan was a move which was both an advantage and a disadvantage. This was majorly due to the fact that either companies or firms had an entirely different set of employees both in age and experience. On its side, Strategic Planning Associates was comprised of generally young professionals who possessed analytical skills.…

    • 719 Words
    • 3 Pages
    Improved Essays
  • Decent Essays

    CASE WRITE UP: “Bluestar`s Acquisition of Adisseo (A)” Prepared by: Emilio Ramirez Zuñiga 000126489, September 2015 INTRODUCTION In 2006 after 6 years of long talks and courtesies. Bluestar the largest subsidiary of ChemChina, a leading position company in china in industrial cleaning products, membrane, and water treatment products, had just achieve to acquire Adisseo, a French company which was the first one to synthesize methionine. PROBLEM STATEMENT After the negotiation was settling and the acquisition was successful, the executives were concern about their positions as well as the employees from Adisseo.…

    • 941 Words
    • 4 Pages
    Decent Essays
  • Great Essays

    Case Study A: Elektra Products Inc. Introduction An unhappy workplace results in demotivated employees leading to few new ideas and ultimately a decline in the company’s performance. This report analyzes the situation of a company going through a similar phase by identifying the core problem, performing a case analysis and offering recommendations. Summary Elektra products Inc.is an electronic manufacturing company that is held by the vice president Barbra Russel and has been in the business field for the past 80 years. Elektra’s specialty was producing all sorts of electrical products and selling them to the public.…

    • 1616 Words
    • 7 Pages
    Great Essays
  • Great Essays

    Company 1 Background - Asia Brands Berhad Asia Brands business operation can be traced back to 1970 as a fabric and clothing manufacturer, and it has since expanded into retailing apparel, footwear and other accessories of its in-house brands as well as international labels through consignment outlets or its own retail stores. Asia Brands launched its in-house brands Antioni (sports-inspired fashion) and Bontton (casual wear) subsequently after the company moved to its new manufacturing facility in Kepong back in 1985. In the 1990s, the company saw the need to learn the marketing skills of international brands. Thus, it took up the master license for the renowned American brand “B.U.M. Equipment” (American lifestyle fashion) in 1993 and then…

    • 1291 Words
    • 6 Pages
    Great Essays