ACC406 Party Bar Case discussion

timer Asked: Feb 17th, 2019
account_balance_wallet $60

Question Description

5 page essay based on facts presented. I have attached the assignment listed below.

Tutor Answer

School: Carnegie Mellon University



Course title
Student name
Institution affiliation

Party Time Bar
With the rapidly growing technology, businesses are fighting to remain afloat and avoid
being outdone by fast-growing companies. Due to this, there has been an increase in the rate of
competition between companies. In valuing most of the closely-held business, there have been
numerous cases where the reported income of a business does not reflect the actual income
earned by a company. This issue is more common in privately owned companies; the privately
owned companies do not focus on reporting large profits. They tend to minimize the net income
in order to pay the taxes in a reasonable amount
The issue of the Party Time Bar is a case of a suppressed business income. With regard to
the forensic investigation that was conducted on Party Time Bar between May 1997 to July
1998, there are certain issues that have been brought to the attention of the government. The
investigation discovered very serious mistakes in how Party Time Bar operates and keeps its
financial records.
To begin with, there is a serious mistake in the wages system of Party Time Bar. As
discovered in the invest...

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Thanks, good work

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