Case #1 Lakeside - 1563 Words

Case #1 [Type the document subtitle] 2/16/2014 Review Comments Summary Discussion Questions – 2 Hours Exercise – 1.5 Hours Table of Contents Title Page†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. Review Comments†¦Ã¢â‚¬ ¦.†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦........1 Team Summary †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..2 Table of Contents†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..†¦.3 Discussion Questions†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦...4 Question #1†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..4 Question #2†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..4 Question #3†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..4 Question #4†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..4 Question #5†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..4 Question†¦show more content†¦Second, Lakeside may feel the auditor isn’t necessarily on their side, even though as an auditor we need to stay neutral and that our obligation is to the stakeholder in the company. Case 1 - Exercise 1 Abernethy and Chapman Fraud Risk Factors Client: Benjamin M. Rogers Prepared by: Date: 2/16/2014 List the fraud risk factors that the CPA firm might encounter if they accept this audit engagement. Be sure to include a discussion of all items that will probably require special attention during the audit. For each of these fraud risk factors, indicate how the auditor should follow up on each potential problem if the engagement is accepted. Use the following formal Fraud Risk Factors Auditor Follow Up Material misstatement that existed on reporting historical cost on the new building. Approach this subject right away and speaking with the previous auditors for what they experienced on this issue. Rogers Corporation to construct the latest facility for Lakeside This issue needs more information and legal terms on whether or not this is allowable. The audit option that was rendered on the books for year ending in 2011 With Rogers refusing to write down the reported value of the property can cause some confliction between any auditor and owner. Talking to Rogers and the previous auditor is the best way to get to the bottom of this issue and see who is at fault. Not as much of aShow MoreRelatedWorkshop 11119 Words   |  5 Pages1. Why would the owners of Lakeside as well as the company’s banks require that an independent CPA firm perform the annual audit? The reason that there needs to be an independent auditor is so that they can remain unbiased. It could potentially make them less independent if they are auditing both Lakeside and the bank in which Lakeside is taking loans from. The auditing firm needs to stay independent in mind and appearance and this may be an issue when auditing both. 2. This case implies thatRead MoreWhy Would The Owners Of Lakeside1657 Words   |  7 Pagesï » ¿1. Why would the owners of Lakeside, as well as the company’s banks, require that an annual audit may be made by an independent CPA firm? Auditing in general, is necessary because of the existence of Information risk or the risk of unreliable information. Owners of lakeside may own the company but they are not closely involved in managing the business with the exception of Rogers, the only owner involved actively in the business’ day to day operations. So, an independent audit for non-managingRead MoreLakeside Auditing728 Words   |  3 PagesExercises Exercise 1 Following his discussion with Rogers, Andrews talked briefly with Carole Mitchell concerning the warehouse expansion. She indicated that Art Heyman had already prepared an analysis of the repairs and Maintenance account (see Exhibit 9-4). In addition, based on the debits to the Warehouse account (see Exhibit 9-5) he had located the invoices substantiating the capitalized transactions (see Exhibit 9-7) while reviewing the invoices received by Lakeside subsequent to the end ofRead MoreCase 5 2988 Words   |  4 Pagesï » ¿Case 5 - Exercise 2 Abernethy and Chapman Internal Control Evaluation Client: Prepared by: Date: Exhibit 5-2 is a portion of the audit program that Mitchell designed to test the operating efficiency of controls in the revenue and cash receipts cycle. For each individual test, indicate the anticipated results if the control procedure is working properly. Also, if the control is not functioning properly, list the potential problems that exist. Use the following format for your response: StepRead MoreEssay about Lakeside Hospital Case1244 Words   |  5 PagesLakeside Hospital A hospital just can’t afford to operate a department at 50 percent capacity. If we average 20 dialysis pa- tients, it costs us $425 per treatment, and we’re only paid $250. If a department can’t cover its costs, includ- ing a fair share of overhead, it isn’t self-sufficient and I don’t think we should carry it. Peter Lawrence, M.D., Director of Specialty Services at Lakeside Hospital, was addressing James Newell, M.D., Chief Nephrologist of Lakeside’s Renal Division, concerningRead MoreStudents At The University Of Alabama1033 Words   |  5 Pagesmore students to have places to live in the future. Providing housing on campus for nearly 8,000 freshman students is nearly impossible. The Presidential Villages house 1,840 students. Blout, Bryant, Bryce Lawn, Burke, Friedman, The Highlands, Lakeside, Parham, Paty, Ridgecrest, Riverside, Somerville, and Tutwiler house roughly 5,000 more students. These freshman options barely fit the ever growing number of new students coming to Alabama. The University of Alabama board of trustees recently approvedRead MoreLakeside Case 27160 Words   |  29 PagesFebruary 7, 2013 Abernathy and Chapman Wallace Andrews Lakeside 1235 Sentry Drive Richmond, Virginia 66266 Dear Mr. Wallace, We have researched the issues that were discussed regarding the possibility of Lakeside Company going public and the ramifications this action would have on their desirability as a client. We have also analyzed Lakeside Company’s financial statements to evaluate the possibility of misstatements. Attached, you will find our report discussing these issues. PleaseRead MoreBill Gates Is A Frugal, Persevering, Supreme Computer Geek987 Words   |  4 PagesMary Maxwell. The Gates family had a close relationship and a competitive spirit. As a child, Monopoly and Risk were his favorite games to play. Bill also loved to read. At thirteen his parents enrolled him in the Lakeside School preparatory in Seattle. While attending Lakeside School in Seattle, Gates was discovered computers for the first time. He was so intrigued with using the computer that he began ditching classes to work in the school’s computer room, alongside another student, Paul AllenRead MoreMr Zhang42340 Words   |  170 PagesThe Lakeside Company: Auditing Cases SOLUTIONS MANUAL 11e Table of Contents John M. Trussel and J. Douglas Frazer A Not on Ethics, Fraud and Sox Questions 2 A Note on Research Assignments 4 Introductory Case 6 Case 1 13 Case 2 21 Case 3 29 Case 4 39 Case 5 51 Case 6 67 Case 7 74 Case 8 83 Case 9 92 Case 10Read MorePros Of Rural, Suburban, And Urban Public Schools1240 Words   |  5 PagesJohn Dayton s (2007) article in Nebraska Law Review states that, many judicial opinions have recognized the disadvantaged circumstances of rural schools (p. 102). D. There have been many court cases involving the state and rural schools, including Tennessee Small School Systems v. McWherter, a court case from the Tennessee Supreme Court in 1993. In Tennessee Small School Systems v. McWherter, a coalition of small school districts, superintendents, school board members, parents, and students alleged

Environmentsl Sys Essay Example For Students

Environmentsl Sys Essay Conan PoitraThe SA227 family of aircraft are low wing monoplanes, built by Fairchild Aircraft Corporation. These aircraft include the Merlin IIC, Merlin IVC, and the Metro III. These three aircraft are powered by two turboprop engines equipped with constant speed, full feathering, four blade, reversible propellers made by Dowty-Rotol, or McCauley propellers. The cabin is pressurized, heated and cooled by bleed air which is ducted through valves, heat exchangers, and refrigeration unit. The air conditioning system supplies cold, hot, and fresh air to both the cockpit and the cabin. These aircraft have two independent systems; both are capable of complete air conditioning. Bleed air is supplied by each engine to drive cooling turbines that provide the cool air. The bleed air is routed to the center section of the aircraft and mixed with cool air to provide hot air. Fresh air is supplied by a blower and motor assembly located in the nose baggage compartment. Either bleed air system may be operated on the ground when the respective engine is operating. Ducts within the fuselage distribute the airflow to the passengers and the crew. An automatic temperature control system senses and regulates the temperature within the aircraft. PRESSURIZATIONThe cabin is pressurized to increase passenger comfort. The pressurization system automatically compensates for increasing aircraft altitude by maintaining cabin altitude as near to field elevation as possible. The cabin altitude will remain at sea level until airplane altitude reaches approximately 17,000 feet. The pressurization system also provides for the emergency dumping of cabin pressurization, automatic over pressurization relief, and negative relief. The pressurization system, within the limits available, maintain the cabin of the aircraft at any selected pressure altitude equal to or lower than the aircraft altitude. In normal operation, the system controls the increase or decrease in cabin pressure and the rate at which these changes in pressure take place. Safety features prevent the cabin from exceeding the maximum pressurization limit and from maintaining a negative pressure. A safety dump valve is used to manually dump cabin pressure. The entire fuselage, with exception of the nose baggage compartment, is pressurized. The outflow valve is located on the aft pressure bulkhead. The emergency dump valve is located on the forward pressure bulkhead. Normal airflow through the aircraft is rearward and out the outflow valve. HEATINGThe heating and cooling air conditioning system, the pressurization control system, and the fresh air system comprise the environmental control system (ECS). Bleed air supplied from the engines, mixed with cold air from the cooling turbines, is used for heating the cabin and cockpit. The heating system consists of two hot air mixing valves controlled by the temperature control system. Each valve controls the introduction of hot air into the cold air duct. An orifice plate is installed on all later model aircraft at the hot air entry side of the Hot Air Mixing Valve, between the hot air line flange and the valve gasket. The orifice reduces noise by restricting airflow. By reducing the airflow, the cabin will take longer to get warm. If you need to heat the cabin faster during the winter months, remove the orifice plate and reinstall it during the warmer months. The orifice plate may be removed permanently. COOLINGA cooling turbine is installed in each wing. Bleed air from the flow control valve drives the turbine. Cooled bleed air is used to cool and pressurize the cabin. Other systems remove moisture from the cooled air and help prevent ice accumulation in the system. Air enters the turbines and passes through an air-to-air heat exchanger. The cooling turbine inlet and outlet are located in the wing near the turbine. RAM air enters the heat exchanger and cools the bleed air. The inlet transition duct features a spring-loaded door to supply air to the heat exchanger in the event the inlet is blocked. Bleed air is routed through the heat exchanger and directed onto the turbine wheel. The turbine wheel and impeller are connected to a common shaft. The rotation of the impeller draws air through the inlet and over the heat exchanger coils. Air passing over the heat exchanger coils cools the bleed air. A sump housing assembly contains oil to lubricate the turbine wheel and impeller bearings . .ubbb1687713a94b68a8ce1f4b0466b9b3 , .ubbb1687713a94b68a8ce1f4b0466b9b3 .postImageUrl , .ubbb1687713a94b68a8ce1f4b0466b9b3 .centered-text-area { min-height: 80px; position: relative; } .ubbb1687713a94b68a8ce1f4b0466b9b3 , .ubbb1687713a94b68a8ce1f4b0466b9b3:hover , .ubbb1687713a94b68a8ce1f4b0466b9b3:visited , .ubbb1687713a94b68a8ce1f4b0466b9b3:active { border:0!important; } .ubbb1687713a94b68a8ce1f4b0466b9b3 .clearfix:after { content: ""; display: table; clear: both; } .ubbb1687713a94b68a8ce1f4b0466b9b3 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .ubbb1687713a94b68a8ce1f4b0466b9b3:active , .ubbb1687713a94b68a8ce1f4b0466b9b3:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .ubbb1687713a94b68a8ce1f4b0466b9b3 .centered-text-area { width: 100%; position: relative ; } .ubbb1687713a94b68a8ce1f4b0466b9b3 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .ubbb1687713a94b68a8ce1f4b0466b9b3 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .ubbb1687713a94b68a8ce1f4b0466b9b3 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .ubbb1687713a94b68a8ce1f4b0466b9b3:hover .ctaButton { background-color: #34495E!important; } .ubbb1687713a94b68a8ce1f4b0466b9b3 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .ubbb1687713a94b68a8ce1f4b0466b9b3 .ubbb1687713a94b68a8ce1f4b0466b9b3-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .ubbb1687713a94b68a8ce1f4b0466b9b3:after { content: ""; display: block; clear: both; } READ: Mahatma Gandhi EssaySERVICINGHEATINGNo regularly scheduled maintenance is required on the hot air mixing valve. The operation of the valve may be checked by placing the mode control in AUTO and moving the auto temperature control from COLD to HOT. The mixing valves should move near full travel with a smooth steady motion. Watch each valve for evidence of hang up or jerky movement. COOLINGThe cooling system is to be check every 200 hours, or at recommended inspection intervals, inspect the turbine for security of installation. Check the hoses and lines attached to the turbine for condition aAviation Essays