CaseStudy2 Devry University ACCT504 Financial accounting and Managerial use

Apr 2nd, 2015
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Background LJB Company , a small business local distributor who understands to go public in the future, the company should be in accordance with the law and may need to take more stringent internal control principles . At the request of the president , an independent internal evaluation of internal controls was conducted to evaluate the direction of strength and weakness.

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Internal control ACCT504 Financial accounting and Managerial use, analysisKeller Graduate school of ManagementProfessor : Linval FrazerWeek 5: Case study 2Friday , April 4, 2014Preparing LJB's Internal Control Reporting for Public TradingBackground LJB Company , a small business local distributor who understands to go public in the future, the company should be in accordance with the law and may need to take more stringent internal control principles . At the request of the president , an independent internal evaluation of internal controls was conducted to evaluate the direction of strength and weakness.Objective The objectives of this report should evaluate the existing controls and make recommendations that will ensure the companies assets and help get the most accurate financial information. Based on a system of internal checks and balances will be just in my recommendations to the president of the company, since most of the internal control systems provide for independent internal control; This principle involves the review of data prepared by employees. To get the maximum benefit from an independent internal control : Control values and Integrity from the top make it clear that it is unethical activities will not be accepted , and set the tone for the company's culture . There are several principles of management :1. Establishment of responsibility : management is most effective when a single source may be responsible for the problem , including the

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