This website uses cookies to ensure you have the best experience. Learn more

Just For Feet Case Essay

909 words - 4 pages

Just for Feet

1) High risk financial statement items for Just for feet are the outrageous increase in debt from 1998 to 1999. The disappearance in property and equipment from 1998 to 1999. Also the large decrease in inventory from 1997 to 1998 would need to be looked into. The doubling in accounts payable is also something that would need to be examined

2) Some of internal audit risks are that management was obsessive over earnings and doing anything to meet earnings expectations. Also some other problems are that management aggressively interprets accounting standards. Management also accepts high levels of risk. These all provide an environment in which employees will do what ...view middle of the document...

4) Management accepts high levels of risk. 5)- places significant emphasis on earnings. 6) - Emphasis on earnings

5) if I was Thomas Shine in this case I would feel that I was in a very awkward position because he obviously does not want to lose a big customer. He was probably pressured into believing that this would never get back to them. Not only would lying affect just for feet but it would also affect Thomas Shines Company and how his company was affected. I do not think I would do it but I will never know the extent of the relationship between the two executives.

The Leslie Fay Companies:

1) BDO Seidman should have looked more carefully at several items during their audit. First they should have looked more closely at sales because sales had a large growth rate through the late 1980’s despite slowing sales and growth in the dress industry. Second they should have looked at receivables which increase from 1988 to 1990 even though there was a massive write off in receivables when their customer allied federated department stores filed for bankruptcy. Also the COGS from 1990 to 1991 decreased despite a historical increase in their COGS year to year. Also total operating expenses dropped nearly 6% in 1990 and 1991, when every other year it increased. Inventory turnover and total asset turnover was constant from 1988 to 1991 despite the slowing sales trend in the industry.
2) Some data that I would have liked to obtain in the Leslie Fay audit would be invoices for their purchase orders in order to confirm their total accounts receivable. I would also like to see inventory statements to confim total warehouse...

Other Papers Like Just for Feet Case

Cmis 102 Homework 1 Essay

674 words - 3 pages for room 2 * W2: The width for room 2 * L3: The length for room 3 * W3: The width for room 3 * L4: The length for room 4 * W4: The width for room 4 * T1: Total square feet for room 1 * T2: Total square feet for room 2 * T3: Total square feet for room 3 * T4: Total square feet for room 4 * Total_SqFt: Total useable square footage in the house Test Plan: Test Case # | Input | Expected Output | 1

Mysterious Roses And The Cold Feet

418 words - 2 pages . Leaders such as mangers and senior managers have to step in and take action. In this particular instance the Mysterious Roses and the case of cold feet, G bio sports find themselves resolving very serious dilemmas. Ethical Issues Presented in the simulation The Case of the Cold Feet and Mysterious Roses were the two simulations that presented two different issues with different solutions. The issue surrounding the case of cold feet is that

Mat 126 Week 1

989 words - 4 pages cost $150, etc. How much will it cost to build a 90-foot tower?” (Bluman, 2005). To solve this arithmetic sequence problem, we are going to the formula “an=a1+ (n-1) d” to determine how much it will cost to construct a 90-foot tower. The n is considered the nth term which is 9 (1 for every 10 feet) we are looking for. The a1 is the first term; in this case it is the first $100 for the first 10 feet. The d is the common difference which is the

Footbinding

699 words - 3 pages wet bandages dried, they slowly tightened, making the binding even tighter.” "For years my grandmother lived in relentless, excruciating pain. When she pleaded with her mother to untie the bindings, her mother would weep and tell her that unbound feet would ruin her entire life, and that she was doing it for her own future happiness." "In due course, her feet lost much of their original shape. Blood and flesh were squeezed into a pulp and then

Naked Foots

882 words - 4 pages these; they limit the senses. I feel just like Myranya Werlemann states in her Barefoot Rights essay, “Feeling the ground beneath me, no matter if it's smooth or rough, wet or dry, cold or warm, is a very important part of my life.” I, too, find it necessary to experience these wonderful feelings on my feet. Shoes act as a barrier between me and the world I am standing on, so I prefer to be shoeless so that I can experience a sort of oneness with

Exercises During Pregnancy

3398 words - 14 pages Specially useful in case of edema, cramping, post epidural numbness in the feet and legs. 5. Shoulder Rotation How to do? Single Arm Place the right fingertips up on the right shoulder. Slowly rotate the arm and shoulder joint around as if drawing a large circle with the tip of the elbow. Extend the movement to rotate fully into the shoulder joint. Do 5 times one way and then reverse the direction for 5 circles. Repeated on the

Eat My Shorts

661 words - 3 pages CHAPTER 15 Case Synopsis: The Rise of the New Groupthink Solitude is out of fashion. Our companies, our schools and our culture are in bondage to the idea that creativity and achievement comes from collaboration. Most of us now work in teams, in offices without walls, for managers who prize people skills above all. Lone geniuses are out and collaboration is in. The author of this article calls this ‘The New Groupthink.” But there’s a

Tree Values

3379 words - 14 pages thinning process. Second, the number of trees in each tree grade at each 10-year increment is calculated based on the probabilities in Exhibit 3 of the case for trees on thinned, managed forestland. Third, the growth in DBH every 10 years is different: 2” instead of 1”. This difference leads to changes in DBH of the trees at each 10-year increment, hence different board feet per tree and price. Table 10 shows the price of 1,200 crop trees with 12” DBH

Patterns of Rhythm and Rhyme in Poetry

1232 words - 5 pages : * iambic trimetre – three iambic feet in a line: e.g. Who sets an apple tree May live to see its end, Who sets a pear tree May set it for a friend. * iambic tetrameter – four iambic feet in a line: e.g. And then my love and 1 shall pace, My jet black hair in pearly braids. * iambic pentameter: e.g. Her lovely looks a sprightly mind disclose Quick as

Spontaneous Human Combustion

989 words - 4 pages happens chemically, inside the body. Interestingly, almost every case attributed to this singularity has seen the victims being consumed almost entirely, including the bones, while leaving extremities such as feet unscathed. The rest of the room usually remains intact as well, the fire not having spread out. Centuries ago, it was believed that imbibing alcohol would amplify inflammability; in other words, getting drunk would be the cause of their

Proxemics

1273 words - 6 pages a scratch on the head as if I was surprised and shocked that he had chosen to pick the locker right next to mine when clearly he could have chose any locker in the room. I knew it wasn’t a big deal but when I’m in a setting like a locker room I like to have my four feet of space just like mostly any person would want. Lastly, public space is the last category of territory. Public spaces are open to anyone for temporary ownership. Examples

Related Essays

Just For Feet Essay

3220 words - 13 pages , & Gramling, 2011). In the case of Just for Feet, fraudulent transactions were booked. In 1998, Just for Feet began recording in its accounting records monthly booth income amounts that were allegedly received from vendors. The offset to the revenue accounts for accounting purposes was a booth assets account. An analytical indicator of fraud is to identify unusual entries to an account, for example, most accounts are affected by transactions in a

Just For Feet Essay

686 words - 3 pages and perform audit procedures to detect misstatements.To plan the nature, timing, and extent of audit procedures, the auditor should establish a materiality level for the financial statements as a whole and materiality levels for particular accounts or disclosures.The auditor should determine the amount of tolerable misstatement for purposes of assessing risks of material misstatement and planning and performing audit procedures at the account or

Bigger Foot Case Study

764 words - 4 pages Bigger  Feet  –  Case  study     October 29th of 2012 Kiara M Prof: Christine Clark Bigger Feet (Case study nº 1) Entrepeneurship and New Ventures Business opportunities are typically born when someone sees a problem, and then finds a solution to that problem. For “Bigger Feet”, the opportunity came to the entrepreneur in 2004 because his founder was having difficulties finding shoes that fit his 13 sized feet

Cats And Buttered Bread. Make Up Your Own Issue About Anything And Get People To Care About It

699 words - 3 pages We had to make up an issue for class, most people just did abortion or peer pressure but I wanted to, as usual, be a comedian so I did this. I got a good grade for it and people in my class and my teacher actually laughed and kept their attention won me while i was reading it. =DCats and Buttered Bread.I’ve decided to make an issue of this question: “If a cat always lands on its feet and buttered bread always lands butter side down