Your Perfect Assignment is Just a Click Away

We Write Custom Academic Papers

100% Original, Plagiarism Free, Customized to your instructions!

glass
pen
clip
papers
heaphones

The Investigation of Potential Financial Statement Fraud in a Small Business

The Investigation of Potential Financial Statement Fraud in a Small Business

The Investigation of Potential Financial Statement Fraud in a Small Business

This case provides you with the opportunity to analyze a set of financial statements to determine if fraud may be occurring at a business.

Jack Palmer, a former colleague of yours at Wells Fargo Bank, owns several golf courses in Idaho. He is concerned that financial statement fraud is being perpetrated by his bookkeeper who may be in collusion with four other golf course managers. Each manager receives a substantial annual bonus on top of his or her annual salary if the golf course earns a certain amount of profits each year.

Jack recently attended a small golf course owner convention in Las Vegas. In discussions with other owners, he discovered that his golf courses were earning much more profit compared to other golf courses of a similar size in the Western region of the U.S.

When you and Jack worked together at Wells Fargo, he was the sales and marketing guy, and he affectionately called you ‘The Numbers Guy.’ You two made a great team together while working at Wells Fargo. Jack trusts your intuition and asked for your help.

At the first meeting, Jack brought a complete set of financial statements, prepared by his bookkeeper, for the past five years for each golf course, including the:

Statements of Financial Condition,

Statements of Revenues and Expenses,

Statements of Cash Flow, and

Statements of Stockholder’s Equity.

The level of detail available and provided to you by Jack in that first meeting, especially for the Statements of Revenues and Expenses includes the following:

-Revenues by type/source of revenues recorded/earned by the golf course

-Expenses by type/source of expenses recorded/paid by the golf course

In responding to the questions related to this case, be sure to provide references for all sources you used. Your answers to this case study should be 5 pages in total, including cover and reference pages. The body of the paper, which must be at least 3 pages in length, should be double-spaced. Make a copy of each question below and place the questions into the body of your paper in bold-type, so that we can both see that you have addressed each one of the questions in your submission.

 

 

Questions/Requirements

What additional information and documentation do you need from Jack before a second meeting? Be specific.

Given that you have five years of financial information for each of the golf courses, where and how would you start your financial statement analysis to determine if fraud was occurring? Be extremely specific addressing which financial statements you would start analyzing first, why, and how you would go about it.

Is there any external information you might try to obtain or asking for to assist in the preparation of your financial statement analysis described in the above bullet? Be specific.

At what point would you suggest to Jack that you need to meet with his bookkeeper? Is there a particular strategy you can think of to employ before meeting with the bookkeeper? If so, what would be your strategy, why, and what might the strategy accomplish if executed properly? Would you ask to meet with the bookkeeper alone or would you want Jack to be present? Why?

Hide Assignment Information

 

Turnitin®

 

Turnitin® enabledThis assignment will be submitted to Turnitin®.

 

Instructions

 

The Investi

gation of Potential Financial Statement Fraud in a Small Business

 

This case provides you with the opportunity to analyze a set of financial statements to determine

if fraud may be occurring at a business.

 

Jack Palmer, a former colleague of yours at Wells

 

Fargo Bank, owns several golf courses in Idaho.

He is concerned that financial statement fraud is being perpetrated by his bookkeeper who may be

in collusion with four other golf course managers. Each manager receives a substantial annual

bonus on top of

 

his or her annual salary if the golf course earns a certain amount of profits each

year.

 

Jack recently attended a small golf course owner convention in Las Vegas. In discussions with

other owners, he discovered that his golf courses were earning much mo

re profit compared to other

golf courses of a similar size in the Western region of the U.S.

 

When you and Jack worked together at Wells Fargo, he was the sales and marketing guy, and he

affectionately called you ‘The Numbers Guy.’ You two made a great te

am together while working

at Wells Fargo. Jack trusts your intuition and asked for your help.

 

At the first meeting, Jack brought a complete set of financial statements, prepared by his

bookkeeper, for the past five years for each golf course, including

the:

 

Statements of Financial Condition,

 

Statements of Revenues and Expenses,

 

Statements of Cash Flow, and

 

Statements of Stockholder’s Equity.

 

The level of detail available and provided to you by Jack in that first meeting, especially for the

Statements o

f Revenues and Expenses includes the following:

 

Revenues by type/source of revenues recorded/earned by the golf course

 

Expenses by type/source of expenses recorded/paid by the golf course

 

In responding to the questions related to this case, be sure to

 

provide references for all sources you

used. Your answers to this case study should be 5 pages in total, including cover and reference

pages. The body of the paper, which must be at least 3 pages in length, should be double

spaced.

Make a copy of each

question below and place the questions into the body of your paper in bold

type, so that we can both see that you have addressed each one of the questions in your submission.

 

Hide Assignment Information

Turnitin®

Turnitin® enabledThis assignment will be submitted to Turnitin®.

Instructions

The Investigation of Potential Financial Statement Fraud in a Small Business

This case provides you with the opportunity to analyze a set of financial statements to determine

if fraud may be occurring at a business.

Jack Palmer, a former colleague of yours at Wells Fargo Bank, owns several golf courses in Idaho.

He is concerned that financial statement fraud is being perpetrated by his bookkeeper who may be

in collusion with four other golf course managers. Each manager receives a substantial annual

bonus on top of his or her annual salary if the golf course earns a certain amount of profits each

year.

Jack recently attended a small golf course owner convention in Las Vegas. In discussions with

other owners, he discovered that his golf courses were earning much more profit compared to other

golf courses of a similar size in the Western region of the U.S.

When you and Jack worked together at Wells Fargo, he was the sales and marketing guy, and he

affectionately called you ‘The Numbers Guy.’ You two made a great team together while working

at Wells Fargo. Jack trusts your intuition and asked for your help.

At the first meeting, Jack brought a complete set of financial statements, prepared by his

bookkeeper, for the past five years for each golf course, including the:

Statements of Financial Condition,

Statements of Revenues and Expenses,

Statements of Cash Flow, and

Statements of Stockholder’s Equity.

The level of detail available and provided to you by Jack in that first meeting, especially for the

Statements of Revenues and Expenses includes the following:

-Revenues by type/source of revenues recorded/earned by the golf course

-Expenses by type/source of expenses recorded/paid by the golf course

In responding to the questions related to this case, be sure to provide references for all sources you

used. Your answers to this case study should be 5 pages in total, including cover and reference

pages. The body of the paper, which must be at least 3 pages in length, should be double-spaced.

Make a copy of each question below and place the questions into the body of your paper in bold-

type, so that we can both see that you have addressed each one of the questions in your submission.

Order Solution Now

Our Service Charter

1. Professional & Expert Writers: On Time Essays only hires the best. Our writers are specially selected and recruited, after which they undergo further training to perfect their skills for specialization purposes. Moreover, our writers are holders of masters and Ph.D. degrees. They have impressive academic records, besides being native English speakers.

2. Top Quality Papers: Our customers are always guaranteed papers that exceed their expectations. All our writers have +5 years of experience. This implies that all papers are written by individuals who are experts in their fields. In addition, the quality team reviews all the papers before sending them to the customers.

3. Plagiarism-Free Papers: All papers provided by On Time Essays are written from scratch. Appropriate referencing and citation of key information are followed. Plagiarism checkers are used by the Quality assurance team and our editors just to double-check that there are no instances of plagiarism.

4. Timely Delivery: Time wasted is equivalent to a failed dedication and commitment. On Time Essays is known for timely delivery of any pending customer orders. Customers are well informed of the progress of their papers to ensure they keep track of what the writer is providing before the final draft is sent for grading.

5. Affordable Prices: Our prices are fairly structured to fit all groups. Any customer willing to place their assignments with us can do so at very affordable prices. In addition, our customers enjoy regular discounts and bonuses.

6. 24/7 Customer Support: At On Time Essays, we have put in place a team of experts who answer all customer inquiries promptly. The best part is the ever-availability of the team. Customers can make inquiries anytime.