“Accounting Methods and Inventories” Please respond to the following:
- Create a corporate policy designed to minimize inventory shrinkage related to theft, stocking errors, shipping errors, etc., indicating how the policy will be enforced and procedures that may need to be implemented.
- Inventory control requires constant attention. Propose a set of guidelines that reflect the necessary monitoring controls for three distinct types of business (e.g., a shoe retailer, a physician’s office, and a food vending truck) to minimize loss and waste. Indicate how each control will minimize risk of inventory loss.
“Internal Controls and Receivables” Please respond to the following:
- Use the Internet to research companies who have experienced misappropriation of assets or loss of customer information within the last five (5) years. Next, analyze the situation from the company you selected and the internal controls that may have been compromised to allow the problem to occur and the resulting financial impact to the business. Propose a plan to prevent this type of situation in the future.
- Assess the external and internal factors that influence credit policy and decision making within a company that extends credit to its customer when providing a good or service on account. Indicate the factor of most significance in today’s business environment. Provide support for your rationale.
“Information Protection and Privacy” Please respond to the following:
- Use the Internet to research current articles related to personal information privacy violations including customer database hacking and related privacy breaches. Next, evaluate the circumstances that contributed to the privacy violation, the consequence to the company to the breach, and management’s response to the breach, indicating the appropriateness of the response. Suggest how the company may have presented the breach and / or responded differently once the breach was discovered. Provide support for your rationale.
- Assess the ethical considerations for information privacy, indicating how these considerations should be addressed with a corporate policy. Provide support for your rationale.