Question

Please provide this answer in your own words bit passage type about 500 words thank you so much!!

Instructions for submission Think of a company you may have worked for or one that you may be interested in working for. Once you have determined the company, write a paper that answers the following questions: • What is the name of the company? • What are the company's accounting and organizational internal control procedures? • What are your suggestions for the company on internal controls improvements? • Has the company ever experienced fraud? • What is the company's plan to reduce fraud? You will be assessed on: Detailed answers and explanations for each of the five questions • Organization and style of the essay (including APA formatting) Compose your paper using Microsoft Word or a Word compatible word processor (LibreOffice, Google Docs, etc.). Your paper must be 2 to 3 pages in length using 12 point. Times New Roman font, and include an introduction, body, and conclusion. You must also cite sources using APA format.

Answer 1

The company's name is Jensen Automobiles.

The following are the Accounting and Internal Control Procedures:

a.The company lays down certain principles and procedures that are issued from the Management.

b. The company doesn't prepare the Books of Accounts in accordance with the Generally Accepted Accounting Principles (GAAP)

c. The company tries to detect any threat that would have the possibility to jeopardize the integrity and it's ability to function smoothly by threatening the employees.

Suggestions:

a. The company should lay down certain principles and procedures involving all the staff of the organisation for transperency and letting everyone in the organisation to feel that they have participated in the company's progress and to have an environment that promotes ethical behaviour.

b. In order to compare the accounting and financial data with other players in the market and to compare with the past year's data,

The company has to prepare the books in accordance with GAAP and also to reduce the implications from the Government.

c. The company has to make enough arrangements that would possibly detect and prevent any threat to the integrity and ability to function smoothly by employing enough Personel and Surveillance methods to keep a track of the organisation on the whole.

The company has experienced fraud.

The plan to overcome is

A. doing background checks on new employees. Before hiring an employee, conduct a thorough background check that goes back seven years to see if there is a criminal history.

B.Employees may ask for paycheck advances and not pay them back. Utilizing a payroll that lets you approve everyone's time before they are paid may help to prevent payroll fraud.

C. customers buy items, use them and return them even though there is nothing wrong with the items. Requiring a receipt and having strict return policies may help to limit Fraud.

D. Institute an employee policy that outlines expected employee behavior anytime they represent the company, so that the reputation of the company may not be damaged.