Jayde, Inc., is a private, medium- sized manufacturing company with an office, a warehouse, and a distribution center in metropolitan Chicago. Jayde’s accounting system currently comprises a hodgepodge of various software packages: a general ledger system (custom developed by a local software company), a Web- based inventory system, an off- the- shelf company), a Web-based inventory system, an off the shelf payroll company), a Web based inventory system, an off-the-shelf payroll system, and a different off- the- shelf accounts receivable/ payable system. Jane Spinner, Jayde’s controller, is a minority share-holder who has been overseeing all accounting operations for the past 20 years. She pretty much has a complete picture of the accounting system in her head, but little system documentation exists except for the vendor- supplied user manuals relating to the various accounting software packages. Required Betty Brins, Jayde’s CEO and primary shareholder, has decided that Jayde will go public. Your assignment is to write a memo relating to the issue of what Jayde needs to do in order to prepare
Answer to relevant QuestionsCollateral Deposit (Part 2)2 (This is a continuation of Problem 27 in Chapter 2.)RequiredPart 1 prepares an analytic flowchart and cross-references it to the list of procedures that accompanies Problem 27 in Chapter 2.Part 2 ...Discuss the purpose of the following questions that appear on an internal control questionnaire. a. Does the company have an organization chart?b. Are the duties of the principal accounting officer segregated from those of ...Collateral WithdrawalDan Matt drew up a flowchart for the depositing of collateral (Problem 57) and turned it over to his senior. The senior inquired if collateral was only deposited and never withdrawn. Dan realized he had ...Distinguish between a “subpoena” and a “search order.” Which is more difficult to obtain?The Westco Plumbing Services Company serves the Miami metropolitan area. It has 24 plumbers on staff, each with his or her own company truck. Each truck is fully equipped, and all plumbers take their trucks home at night, as ...
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