西方财务会计课后题5-8答案

1、 PAGE 5绊CHAPTER板 5办1.啊叭The kno扒wledge 隘that jo摆b rotat隘ion is 盎practic白ed and 傲that on唉e e按m肮ployee 摆may per稗form an百others肮 job at蔼 a late捌r date 拔tends t吧o disco袄urage d白eviatio白ns from叭 prescr版ibed pr版ocedure叭s. Also凹, rotat拌ion hel奥ps to d翱isclose矮 any ir坝reg疤u安laritie按s that 埃may occ瓣ur.巴2.啊背Au

2、thori叭zing co俺mplete 败control鞍 over a哀 sequen佰ce of r艾elated 凹operati捌ons by 捌one ind扳ividual巴 presen岸ts oppo氨r瓣tunitie矮s for i靶neffici矮ency, e搬rrors, 凹and fra爸ud. The斑 contro岸l over 版a seque疤nce of 艾operati邦ons sho百uld be 版d艾i皑vided s耙o that 艾the wor搬k of ea扮ch empl安oyee is疤 automa跋tically澳 checke白

3、d by an鞍other e阿mployee白 in the艾 normal肮 course啊 of wor安k. A sy啊stem fu肮nctioni扮ng in t昂his ma扳n鞍ner hel艾ps prev搬ent err袄ors and芭 ineffi肮ciency.稗 Fraud 八is unli奥kely wi凹thout c敖ollusio爱n betwe耙en two 艾or more拔 employ叭ees.拔3.跋傲To redu皑ce the 氨possibi隘lity of凹 errors矮 and em傲bezzlem傲ent, th按e funct盎io

4、ns of爸 operat胺ions an埃d a矮c凹countin哎g shoul按d be se拔parated八. Thus,爸 one em耙ployee 斑should 拔not be 八respons爸ible fo胺r handl傲ing cas邦h recei昂pts (op板er颁a盎tions) 拌and mai版ntainin奥g the a芭ccounts唉 receiv埃able re跋cords (啊accoun隘t摆ing).捌4.盎叭No. Com半bining 胺the res巴ponsibi伴lity fo把r relat吧ed oper霸ations,把

5、 such a颁s combi案ning th癌e funct啊ions of稗 purcha阿s芭ing, re吧ceiving皑, and s稗toring 懊of supp澳lies, i搬ncrease半s the p盎oss安i拜bility 板of erro案rs and 啊fraud.罢5.靶艾The con把trol pr懊ocedure艾 requir拜ing tha叭t respo邦nsibili百ty for 傲a seque佰nce of 瓣related傲 operat哎ions be翱 divide办d among蔼 differ昂ent per背sons is哎

6、vi霸o颁lated i暗n this 稗situati凹on. Thi办s weakn佰ess in 蔼the int背ernal c鞍ontrol 袄may per昂mit irr罢egulari拌ties. F肮or exa捌m拌ple, th安e ticke芭t selle哀r, whil斑e actin矮g as ti案cket ta熬ker, co岸uld adm八it frie皑nds wit埃hout a 翱ticket.按6.蔼碍The res伴ponsibi搬lity fo绊r maint把aining 啊the acc捌ounting背 record拔s shoul摆d

7、be se叭parated按 from t皑he r半e癌sponsib艾ility f哀or oper佰ations 扒so that懊 the ac蔼countin叭g recor隘ds can 艾serve a案s an in岸depende扒nt chec艾k on o皑p耙eration耙s.吧7.鞍柏The ind盎ividual背 accoun俺ts rece扒ivable 绊ledger 扒account矮s provi拌de busi百ness ma肮nagers 叭i隘n啊formati凹on on t岸he stat昂us of i昂ndividu霸al cust捌ome

8、r ac罢counts,皑 which 挨is nece扮ssary f碍or mana敖ging co哎llectio罢ns. Man昂agers n啊eed to 爸know wh拜ich cus叭tomers 胺owe mon案ey, how俺 much t佰hey owe岸, and h拜ow long蔼 the am芭ount ow邦ed has 俺been ou熬t懊standin邦g.鞍8.皑绊The maj澳or adva背ntages 皑of the 案use of 扮special捌 journa半ls 懊are sub捌stantia邦l savin肮gs in r矮ec

9、ord-k盎eeping 八expense搬s and a扮 reduct哎ion of 扒re跋c搬ord-kee案ping er颁rors.绊9.捌袄a.柏拌250瓣；板b.哀隘None熬10.拜爸a.案半250颁；爸吧b.埃班1袄11.百般a.耙扳Sometim捌e follo背wing th挨e end o佰f the c蔼urrent 斑month, 岸one of 办two thi疤ngs may岸 happen斑: (1) a柏n overd袄ue noti澳ce will熬 be rec背eived f暗ro翱m Hoffm霸an Co.,扳 and/or跋 (2) a 白le

10、tter 敖will be昂 receiv跋ed from白 Hoffer昂 Co., i斑nformin凹g the b挨uyer of班 the ov懊erpayme傲nt. (It罢 is als阿o possi扳ble tha佰t the e耙r坝ror wil扮l be di阿scovere邦d at th案e time 袄of maki百ng paym昂ent if 袄the ori吧ginal i皑nvoice 傲is insp澳ected a吧t the t胺ime the挨 check 叭is bein叭g wri扳t稗ten.)敖岸b.颁拔The sch笆edule o笆f

11、 accou翱nts pay扒able wo笆uld not霸 agree 柏with th岸e balan拔ce of t澳he acco佰unts pa熬yable a暗ccount.俺 The er鞍ror mig袄ht also把 be dis挨covered袄 at the摆 time t柏he i鞍n肮voice i哎s paid.巴半c.俺翱The cre邦ditor w白ill cal按l the a唉ttentio半n of th颁e debto罢r to th班e unpai鞍d balan败ce of $氨1,000.摆拔d.昂熬The err班or will笆 beco

12、me跋 eviden奥t durin啊g the v坝erifica袄tion pr爸ocess a蔼t the e版nd of t矮he mont罢h. The 稗total d罢ebits i拌n the p鞍urchase鞍s journ伴al will巴 be les拌s than 疤the t案o熬tal cre板dits by疤 $2,000唉.捌12.靶岸a.鞍肮No, the搬 error 邦will no扒t cause百 the tr邦ial ba澳l扳ance to疤tals to胺 be une暗qual.昂扳b.敖拌No, the半 sum of鞍 the ba邦la

13、nces 跋in the 爱credito扒rs ledg颁er will岸 not ag蔼ree wit唉h the b瓣alance 疤of the 巴account暗s payab癌le a疤c拔count i案n the g岸eneral 半ledger.翱13.拌背a.摆啊Cash pa耙yments 阿journal佰；哀笆b.拔癌Purchas扳es jour摆nal澳；哀颁c.艾袄Cash pa奥yments 白journal绊懊d.跋拔Purchas罢es jour哀nal氨；摆霸e.扒坝Cash pa懊yments 颁journal吧14.俺版An elec拔tronic

14、笆form is敖 a soft岸ware wi疤ndow th哎at prov奥ides th八e input阿s for a扮 partic伴ular tr扮ansa颁c蔼tion. F皑or exam背ple, a 八check f爱orm pro霸vides t按he inpu敖ts (pay鞍ee, amo霸unt拜, date)背 for a 般cash pa半yment t瓣ransact敖ion. An隘 electr半onic in巴voice p绊rovides般 the in哀puts (c办ustomer岸, amoun碍t sold,案 item s盎old) fo捌

15、r recor芭ding re百venues 癌earned 柏on a矮c扮count.拜15.矮啊The use袄 of con俺trollin罢g accou板nts to 碍verify 拌the acc把uracy o罢f subsi唉diary a罢ccounts奥 is use熬d in a 鞍manual 懊system.叭 In a c奥ompu绊t败erized 搬system,皑 it is 拔assumed拜 that t艾he comp澳uter wi矮ll accu啊rately 捌sum the耙 indivi蔼dual tr袄ansacti百ons in 胺th

16、e sub扮sidiary叭 accoun扳ts in d碍etermin哎ing the坝 aggr哀e邦gate ba办lance. 板Thus, t胺here is把 no nee矮d for c爸ontroll俺ing acc皑ounts f吧or cont芭rolling半 the ac艾c挨u阿racy of吧 the in安dividua袄l posti百ngs.败16.熬疤For aut隘omated 佰systems扳 that u绊se elec搬tronic 把forms t皑he spec奥ial jou昂rnals a哎re not 绊used to拔 record熬

17、 origin伴al tran稗saction暗s. Rath般er, ele拔c-troni啊c forms芭 captur昂e the o哎riginal颁 transa笆ction d肮etail f翱rom an 罢invoice耙, for e罢x昂ample, 爱and aut板omatica胺lly pos笆t the t捌ransa爸c八tion de俺tails t耙o the a扮ppropri盎ate led疤ger acc懊ounts.肮17.埃唉E-comme绊rce can疤 be use搬d by a 稗busines鞍s to co碍nduct t安ransac

18、t袄ions di氨rectly 把with cu拜stomers澳. Thus,吧 an ord稗er can 伴be r盎e奥ceived 吧directl吧y from 办the cus扳tomers耙 Intern颁et inpu罢t and c傲ash can坝 be rec般eived f疤rom the巴 credit拜 card. 佰Many ti安mes, th氨e cash 半is rece碍ived pr凹ior to 扮actuall熬y shipp凹ing the佰 produc哎t, resu啊lting i扳n a fas暗ter rev皑enue/co稗llec

19、tio板n cycle蔼. Reduc白ing pap凹erwork 拔through挨out the八 cycle 按also im啊proves 蔼the eff扮i百ciency 艾of the 疤process拌. For e胺xample,袄 all of挨 the ac版countin板g trans安actions熬 can be拌 fed au把tomatic白ally fr啊om the 巴initial挨 Web-ba氨sed i般n佰puts.Ex. 51案As an i昂nternal扮 audito岸r, you 艾would p癌robably斑 disagr袄ee

20、 with凹 the ch罢ange in伴 policy白. First挨 Charte邦r has s靶ome nor爸mal bus笆iness r案isk ass扒ociated拌 with d阿efault 半on bank摆 loans.班 One wa靶y to he霸lp mini百mize th胺is is t百o caref跋ully ev叭aluate 佰loan ap芭plicati岸ons. La叭rge loa佰ns pres版ent gre半ater ri班sk in t澳he even蔼t of d摆e盎fault t扒han do 瓣smaller办 loan

21、s.办 Thus, 凹it is r阿easonab敖le to h霸ave mor蔼e than 哎one per隘son inv拔olved i斑n makin唉g the d稗ec氨i办sion to疤 grant 拌a large矮 loan. 白In addi艾tion, l颁oans sh霸ould be背 grante昂d on th耙eir mer埃its, no爱t on th傲e basis疤 of fav皑oritism靶 or mer佰e assoc班iation 拔with th搬e bank 靶preside暗nt. All隘o般w岸ing the坝 bank p靶

22、residen蔼t to ha暗ve sole扳 author敖ity to 伴grant l蔼arge lo安ans can啊 lead t氨o the p盎residen哀t grant胺ing loa吧ns to f稗riends 疤and bus把iness a氨ssociat鞍es, wit瓣hout th拜e r罢e肮quired 般due dil耙igence.懊 This c白an resu昂lt in a爱 bank b疤ecoming蔼 expose芭d to ve拜ry poor奥 credit熬 risks.奥 Indeed疤, this 半sc扳e俺nario i皑s

23、 one o爱f the c氨auses o袄f savin懊gs and 熬loan an俺d bank 岸fai艾l稗ures of搬 the pa肮st.Ex. 52把This is罢 an exa摆mple of半 a frau扳d with 肮signifi芭cant co爱llusion凹. Fraud凹s that 鞍are per办petrate伴d with 哎multipl熬e parti八es in d颁ifferen胺t posit瓣ions of搬 contro扒l make 办detecti白ng frau芭d more 叭di挨f翱ficult.癌 In thi爸

24、s case,胺 the fr癌aud beg跋an with搬 an emp暗loyee r败esponsi案ble for凹 author奥izing c把laim pa班yments.挨 This i摆s a sen案sitive 唉positio癌n becau啊se his 鞍decisio佰ns woul啊d initi昂ate pay胺ments. 白However靶, claim皑s would皑 need t熬o be au绊thorize哀d and v敖er懊i蔼fied be吧fore pa扮yment w坝ould be奥 made. 肮Knowing绊 this,

25、癌the emp斑loyee m翱ade sur颁e each 艾claim h邦ad a ph笆ony “vi伴ctim.” 拔Thus, t昂here wa罢s a ver八i板fiable 捌story b叭ehind e把ach cla巴im. Onl瓣y by tr八acking 扮physica稗l ev敖i疤dence o爸f the a氨ccident巴 could 跋it be d昂iscover办ed that案 the cl耙aim was佰 fictit坝ious. H版owever,罢 the ve俺ry natu耙re of t版he proc氨ess was安 t

26、o res扒olve sm版all cla芭ims qui伴ckly wi霸thout e胺xcessiv伴e contr阿ol. Las懊tly, co捌rrupt l鞍awyers 岸were br碍ought i办nto the般 fraud 稗to act 埃as atto啊rneys f佰or the 凹claiman氨ts. Thi阿s gave 斑the cla埃ims eve按n more 肮credibi搬lity. I斑n actua叭lity, t半he lawy皑ers had拜 done l鞍egitima白te bus颁i耙ness wi艾th the 拔truck

27、in爸g co办m拌pany, s斑o all a盎ppeared败 normal盎. This 板fraud w挨as disc芭overed 罢when th爱e fraud隘ulent e百mployee霸s bank袄 notice伴d irreg盎ulariti吧es in h把is bank叭 accoun昂t and n俺otified扳 author搬ities. 稗As the 安saying 笆goes, “矮Follow 鞍the mon傲ey!” As吧 a side办 note, 氨the cor百rupt cl袄aims ad败ministr蔼ator fe凹ll

28、into案 this b坝ehavior佰 due to坝 ga哎m耙bling p昂ro摆b肮lems.Ex. 53俺Event S翱ound sh八ould no败t have 隘relied 癌on the 绊unusual把 nature隘 of the板 vendor扮s and d埃elivery八 freque案ncy to 瓣u吧n肮cover t爸his fra靶ud. The罢 purcha案se and 懊payment鞍 cycle 芭is one 隘of the 暗most cr奥itical 版busines扒s cycle挨s to co半ntrol, 唉beca

29、use挨 the po碍tential板 for ab瓣use is 佰so grea霸t. Purc昂hases s板hould b凹e init巴i坝ated by柏 a requ隘isition碍 docume班nt. Thi班s docum半ent sho按uld be 颁counter艾signed 袄by a su安perior 皑so that癌 two pe肮ople ag岸ree as 傲to what吧 is bei绊ng purc昂hased. 爱The req扳uisitio巴n shoul唉d initi隘ate a p凹urchase癌 o板r拜der to 爱a

30、vendo扳r for g啊oods or扮 servic袄es. The八 vendor吧 respon佰ds to t跋he purc拜hase or袄der by 氨deliver罢ing the版 goods.吧 The go艾ods sho安uld be 叭fo绊r班mally r叭eceived搬 using 艾a recei板ving do俺cument.办 An acc隘ounts p氨ayable 伴clerk m败atches 拔the req氨uisitio艾n, purc伴hase or摆der, an罢d invoi疤ce befo澳re any 跋payment唉

31、is mad癌e. Such拜 “tripl俺e match霸ing” pr般events 巴unautho蔼rized r阿equests稗 and pa背y瓣ments. 伴In this肮 case, 啊the req爸uests w扮ere una扒uthoriz疤ed, sug盎gesting邦 that t把he empl耙oyee ha叭d sole 扳authori奥ty to m俺ake a r拜equest.斑 Second扮, this 案employe矮e had a艾ccess t奥o the i岸nvoices班. This 爱access 柏allowed耙 th

32、e em傲ployee 拔to chan半ge crit班ical ch般aracter奥i拔s背tics of懊 the in拌voice t柏o hide 把the tru办e natur白e of th跋e goods啊 being 凹receive伴d. The 半invoice半 should胺 have b按een del矮i唉v搬ered di耙rectly 傲to the 叭account伴s payab败le cler伴k to av翱oid cor叭rupting懊 the do俺cument.瓣 There 背apparen绊tly was疤 no rec澳eiving

33、拜doc柏u扒ment (c拌ommon f颁or smal柏ler com伴panies)疤; thus,霸 only t盎he invo埃ice pro摆vided p巴roof of氨 what w唉as rece霸ived an叭d to be半 paid. 拜If ther翱e had b板een a r盎eceivin柏g repor伴t, the 班invoice巴 could 昂not hav版e been 俺do俺c凹tored a熬nd gone霸 undete叭cted, b碍ecause 凹it woul扮d not h坝ave mat啊ched th拔e recei啊

34、v岸ing rep般ort.绊Note to疤 Instru翱ctors哎: This 败exercis班e is ba鞍sed on 昂an actu隘al frau半d.Ex. 54百a.啊办The mos耙t diffi霸cult fr矮auds to芭 detect扳 are th碍ose tha邦t invol鞍ve the 拌senior 阿managem白ent of 斑a co八m捌pany th唉at is i碍n a con版spiracy办 to com蔼mit the艾 fraud.爱 The se昂nior ma爸na翱g肮ers hav奥e the p疤ower t

35、o颁 access案 many p凹arts of邦 the ac敖countin爱g syste哎m, whil邦e the n伴ormal s板eparati败on of d吧uties i捌s su岸b扒verted 敖by invo鞍lving m搬any peo瓣ple in 奥the fra唉ud. In 肮additio拌n, the 版authori颁zation 哀control隘 is sub啊verted 把because巴 most o啊f the a安uthoriz盎ation p坝ower re暗sides i爸n the s暗enior m氨anag叭e百ment

36、.背b.哀盎Overall叭, this 隘type of拜 fraud 傲can be 艾stopped跋 if the笆re is s唉trong o拌versigh挨t of se把nior ma懊nag蔼e搬ment, s奥uch as 跋an audi岸t commi班ttee of颁 the bo扮ard of 板directo扒rs. Ind暗ividual爱 “whist八le blow办ers” in把 the co八mpany c敖an make哀 their 袄concern矮s known安 to the白 indepe阿ndent o按r inter般nal aud跋

37、i翱tors wh板o, in t皑urn, ca澳n infor绊m the a爸udit co翱mmittee吧. The a叭udit co般mmittee百 should板 be ind疤ependen敖t of ma矮nagemen肮t and h埃ave the笆 power 懊to mon把i啊tor the笆 action澳s of ma把n笆agement板.Ex. 55按1.昂跋General阿 ledger鞍 accoun拔ts: (e)捌；傲2.安邦Subsidi疤ary led安ger acc爱ounts: 吧(a), (b捌), (c),办 (d)Ex. 56哀a.

38、班般Cash re颁ceipts 班journal八；背b.Cash 唉receipt袄s journ蔼al搬；埃c.阿胺General爱 journa敖l (not 吧a reven斑ue tran巴sa氨c搬tion)扒d.案拜General案 journa熬l笆；皑e.巴巴Cash re昂ceipts 叭journal懊；耙f.袄芭Cash r拔e跋ceipts 按journal蔼g.昂背Cash re把ceipts 巴journal爱；吧h.Reven佰ue jour爱nal袄；挨i.捌盎Cash re搬ceipts 颁journal佰；隘j.碍俺General案 journa靶lEx

39、. 57办a.案拔Cash pa把yments 般journal袄；皑b.般叭Purchas按es jour敖nal吧；拜c.柏柏Cash pa版yments 埃journal暗；捌d.柏斑General佰 journa摆l版e.胺稗General坝 journa半l搬；扒f.百芭Cash pa懊yments 巴journal板；敖g.绊稗Purchas爸es jour班nal凹；拔h.Cash 搬payment翱s jou瓣r澳nal懊i.皑拜General盎 jou稗rnal懊；八j.百碍General安 journa捌l昂；阿k.Purch扒ases jo班urnalEx. 58凹Nov

40、.白耙3傲瓣Provide翱d servi背ce on a八ccount;邦 posted埃 from r扮evenue 笆journal澳.癌稗9奥扳Granted暗 allowa把nce or 芭correct昂ed erro埃r relat疤ed to s昂ale of 拔Novembe挨r 3; po爱sted fr隘om ge霸n坝eral jo斑urnal.伴哀13癌搬Receive凹d cash 案for bal败ance du佰e; post傲ed from熬 cash r挨eceipts耙 journa白l.Ex. 59爱靶稗扮REVENUE瓣 JOURNA班L笆般PAGE

41、8爱胺敖Invoice拔拔叭Post.扮癌Account吧s Rec. 摆Dr.安拜Date白板No.奥伴Account俺 Debite傲d案唉Ref.半案Fees Ea碍rned Cr办.2006爱爱1拌捌Mar.半癌2办瓣512爱坝Conrad 瓣Co. 昂搬瓣扒790癌捌1败挨2肮爱板8罢吧513叭澳Orlando拌 Co. 把瓣碍坝310唉半2盎半3敖绊邦12熬邦514肮俺Drake I办nc. 疤坝哀袄580奥扮3哎凹4伴耙啊22稗岸515班肮Electro捌nic Cen拔tral, I扒nc. 八哎蔼耙伴250暗佰4拔艾扒瓣31按办颁Total傲癌翱八哀1,930叭挨5扮扳耙奥C

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44、g), 板(i), (k澳), (l)熬2.百敖Subsidi般ary led碍ger acc巴ount: (胺a), (e)鞍, (h)爱；瓣3.澳柏No post阿ing req斑uired: 邦(j)靶Ex. 51凹2佰Feb.拔斑6哎鞍Purchas靶ed serv安ices, s百upplies昂, equip爸ment, o背r other拔 commod拔ities o哀n版 a翱c邦count; 矮posted 矮from pu挨rchases颁 journa办l.搬颁10瓣百Receive奥d allow稗ance or啊 correc巴ted err熬or rela八ted

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48、counts 癌Payable盎 Cr.矮Clea霸n板ing Su安p盎plies D巴r.半Account伴Post Re安f.版Amount扮2007八1皑May跋3柏Industr按ial Pro懊ducts, 隘Inc.袄凹85柏昂85鞍1扮2版12笆Carver 按Paper P伴roducts凹, Inc.般埃205绊哎205瓣2鞍3叭17盎Liquid 斑Klean S澳upplies叭俺170摆爱170罢3氨4斑20哀Fountai隘n Laund办ry Se跋r暗vice安傲70安矮Laundry板 Servic艾e Exp.盎53邦70肮4氨5白31柏Total埃扮530

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53、. Koss2006矮June拌芭21叭斑爸皑R1昂扳84熬白颁84佰败26败氨柏凹R1版扮273埃胺霸357K. Lee2006扒June伴吧19疤哀爸坝R1阿靶126班柏班126扒般28败盎笆伴R1班霸63案艾背189霸A. Somm败erfeld2006吧June矮巴16办皑按奥R1芭敖315哎澳版315b.霸GENERAL扒 LEDGER把Account凹s Recei熬vable搬碍12白跋Post.佰挨斑Balance摆摆Date耙鞍Item艾办Ref.哎氨Dr.绊背Cr.奥安Dr.案扮Cr.2006扒June熬吧30熬暗肮艾R1碍跋987埃袄爸987皑皑柏Office 扳Supp

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