Accounts receivable

committing fraud, it is most likely concealing its actions in inventory, accounts receivables or expense accounts such as meals and entertainment and consulting. Because of the large size and complex nature of these accounts, it is difficult to determine their proper valuation and makes it easier for the management to manipulate the…

equivalents is that Google Inc. spent $738 million to settle its accounts payable and $1,000million paying its short-term debts. In terms of accounts receivable, it was stated in its 2014 Annual Report, “We record accounts receivable at the invoiced amount and we normally do not charge interest. We maintain an allowance for doubtful accounts to reserve for potentially uncollectible receivables” (citation). Net accounts receivable as a percentage of total assets went from 8% in both 2012 and…

incorporate a few tactics to strengthen their internal controls they could prevent this type of fraud within their business. Stefan used multiple types of skimming in order to carry out his crimes. The majority include Skimming and lapping of Accounts receivable, which are a result from poor collection procedures and poor supervision from higher management. By applying the basics of Cressey’s study to analyze winkers…

Hospital accounts receivable currently at 42 days, needs to improve and should be somewhere around 30 days. Both of these metrics need improvement which we have outlined in the recommendation…

purpose of this memorandum is to provide an account of my labor and considerations in regards to the audit of the Sales Discount Account of Old Main Manufacturing (OMM). I’ve prepared a draft of an audit program that outlines the steps that I have taken to complete the audit successfully. As a part of the program, I traced the cash receipts journal to the sales journal in order to determine the completeness and accuracy of the credit to accounts receivable and recording of the sales discount. I…

August will be: $3,000,000 X .7 = $2,100,000 (August billings collected in August). We would also assume from this question that 90% of the remaining outstanding bills from July would be paid in August. Therefore: 90% of July’s uncollected receivables will be collected in August: $900,000 X .9 = $810,000. $2,100,000 + $810,000 = $2,910,000 will be collected in August. Similar to the previous month - $90,000 of the outstanding balance from July will never be collected. 2. How…

Under GAAP, accounts receivable should be reported at their net realizable value. The net realizable value can be found by subtracting the allowance for bad debts from accounts receivable. Currently, GAC does not have an established allowance for bad debts. GAC currently uses the direct write off method and only accounts for the specific items they know they will not receive. However, with the change in customer base, this is especially important. The new customers are not as reliable as the…

flow statement is comprised of three main areas; operating activities, investing activities and financial activities. Cash flow from operating activities includes Net Income, Depreciation, Extraordinary gains/losses/write-offs, Accounts Payable, Inventory, and Accounts Receivable. The sum of losses or profits in each of these sections will total the net cash from operations. The analysis will cover three years’ worth of data outlining high, lows, and/or trends. The comparison of our company’s,…

BluJay Aviation Ivan V. Paulino Embry Riddle Aeronautical University MGMT 210 Max Profits Consulting Firm Dear Wren McKeemon & Brad Castanada BluJay Aviation, We here at Max Profits Consulting Firm are grateful for the opportunity to provide recommendations to your company, “BluJay Aviation”. We have been in the consulting business for over 20 years; we fully expect to meet your needs and concerns. We intend to provide unbiased and educated commendations to BluJay Aviation by…

as an account receivable which is the right to receive cash from the customer in the future. Usually, account receivables are collected rather in a short period of time. Next is notes receivables, they represent a written promise that the customer will pay a fixed amount of principle plus interest by the maturity date. The maturity date is the by which the note is due. The written document will serve as evidence of the debt. The notes receivable usually take more time than it does with account…