Large frauds can often be detected by performing financial statement analysis. Although such analysis can raise areas
Question:
1. Identify possible red flags.
2. Indicate if reasonable explanations exist for the areas ofconcern.
Transcribed Image Text:
KELLY ENTERPRISES, INC. STATEMENT OF CASH FLOWS FOR THE PERIOD ENDED DECEMBER 31, 2012 IN MILLIONS Cash from Operations Net income Change in accounts receivable Change in accounts payable Change in inventory Depreciation Net cash from operations Cash from Investing Additions to property, plant, and equipment Proceeds from sale of securities Net cash from investing Cash from Financing Borrowings of long-term delbt Cash dividends Net cash from financing Increase (decrease) in cash 2012 2011 2010 S900 (706) 150 (50) 105 S 499 S800 (230) 45 15 90 S 450 25 90 25 65 s (950) 25 S (925 s (690) 56 s (634 (790) S(775) 250 140) S 110 S (316) (150) 85 S 65 S 121 S 34 45
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 76% (17 reviews)
Some areas of concern are the rapid growth of receiv...View the full answer
Answered By
Cyrus Sandoval
I a web and systems developer with a vast array of knowledge in many different front end and back end languages, responsive frameworks, databases, and best code practices. My objective is simply to be the best web developer that i can be and to contribute to the technology industry all that i know and i can do. My skills include:
- Front end languages: css, HTML, Javascript, XML
- Frameworks: Angular, Jquery, Bootstrap, Jasmine, Mocha
- Back End Languages: Java, Javascript, PHP,kotlin
- Databases: MySQL, PostegreSQL, Mongo, Cassandra
- Tools: Atom, Aptana, Eclipse, Android Studio, Notepad++, Netbeans.
Having a degree in Computer Science enabled me to deeply learn most of the things regarding programming, and i believe that my understanding of problem solving and complex algorithms are also skills that have and will continue to contribute to my overall success as a developer.
I’ve worked on countless freelance projects and have been involved with a handful of notable startups. Also while freelancing I was involved in doing other IT tasks requiring the use of computers from working with data, content creation and transcription.
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Fraud examination
ISBN: 978-0538470841
4th edition
Authors: Steve Albrecht, Chad Albrecht, Conan Albrecht, Mark zimbelma
Question Posted:
Students also viewed these Business Law questions
-
Although financial statement fraud can be committed in many different ways and by people in different positions, history shows that the majority of financial statement fraud is committed by people in...
-
Financial statement analysis can be used to identify a companys weak areas so that management can work toward improvement. Can financial statement analysis be used for any other purpose? Explain.
-
Financial statement analysis can be used to identify a companys weak areas so that management can work for improvement. Can financial statement analysis be used for any other purpose? Explain.
-
Use the following information for Questions 1 a) and 1 b): a) At the beginning of the year, Juju Sdn. Bhd. estimated the following: Polishing Department Overhead Direct labour hours Kiln hours Firing...
-
Provide an example of an accrued expense. The adjusting entry associated with an accrued expense always includes a debit and credit to which account classifications?
-
Leota Sage saw a local motorcycle dealers newspaper advertisement offering a MetroRider EZ electric scooter for \($1,699.\) When she went to the dealership, however, she learned that the EZ model had...
-
Two water jets of equal size and speed strike each other as shown in Fig. P5.57. Determine the speed, \(V\), and direction, \(\theta\), of the resulting combined jet. Gravity is negligible. Figure...
-
Green with Envy provides environmentally friendly lawn services for homeowners. Its operating costs are as follows. Depreciation ..... $1,500 per month Advertising ....... $200 per month Insurance...
-
Majesty Company uses target costing to ensure that its products are profitable. Assume Majesty is planning to introduc product with the following estimates: Estimated market price Annual demand Life...
-
Relate the information flows to a florist agency near your college or university.
-
As an internal auditor for CRA, Inc., you are assigned to a team working on an ongoing project to identify possible fraud. The project started with time trend analysis of purchase prices of all items...
-
By examining first digits, Company XXX suspects fraud. You are asked to review the sample of invoices shown on the previous page to see if they make sense. You are familiar with several fraud...
-
Assume that Katrina Lake of Stitch Fix plans to expand her business to accommodate more product lines. She is considering financing expansion in one of two ways: (1) Contributing more of her own...
-
Purple Reign is a clothing manufacturer/retailer based in Minneapolis, MN. The company started by making and selling t-shirts with images of the musician Prince on them. Business picked up and the...
-
In 2 0 2 1 , Williams Sonoma reported total assets of $ 4 , 6 6 1 billion, total liabilities of $ 3 , 0 1 0 million, and common stock equity of $ 1 , 6 5 1 million. What was the firm's debt ratio in...
-
K Thao earned the following scores on her six management exams last semester. 77, 83, 41, 87, 77, 92 Find the mean, the median, and the mode for Thao's scores. The mean for Thao's scores is (Type an...
-
Sarah, Tim and Joe are in partnership. Adjusted profits for the year to 31 May 2023 are 300,000. Up to 31 October 2022, the partners share profits 35:30:35 after charging a salary for Tim of 12,000...
-
Solve the system. State whether the system is inconsistent or has infinitely many solutions. If the system has infinitely many solutions, write the solution set with y arbitrary. 3x-4y=4 -6x+8y=-8...
-
Using a framework, conduct an organisation review and micro-analysis which identifies gaps in the organisations internal and external research.
-
Chao, Louis, and Mari, unrelated individuals, own all of the shares of Cerise Corporation. All three shareholders have been active in the management of Cerise since its inception. In the current...
-
What is the purpose of preparing a telephone analysis? a. To identify callers b. To identify receivers c. To provide leads to potential witnesses d. All of the above
-
Henrioulle, an unemployed widower with two children, received public assistance in the form of a rent subsidy. He entered into an apartment lease agreement with Marin Ventures that provided,...
-
Emily was a Java programmer employed with Sun Microsystems in Palo Alto, California. Upon beginning employment, Emily signed a contract that included a noncompete clause that prevented her from...
-
EarthWeb provided online products and services to business professionals in the information technology (IT) industry. Earth-Web operated through a family of websites offering information, products,...
-
Describe, in steps, at least one strategy used to attack embedded operating systems. Describe, in steps, at least one strategy used to defend against the chosen attack.
-
how does a hypercompetetice environment challenge those in an industry
-
Describe how managers can reduce unnecessary costs, including real - world examples of how it has been done
Study smarter with the SolutionInn App