Complete Case 6.5- Avis Love, evaluate the case and write a case


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Complete Case 6.5- Avis Love, evaluate the case and write a case analysis on this i submitted case through documents it must be 5-7 pages in length, including APA format and include 6-7 scholarly citations/references. my email id s..0@gmail.com Prepare the case analysis using APA format. It should be complete plagiarism free other wise I will get zero Complete Case 6.docx Complete Case 6.5- Avis Love, Staff Accountant from the case book. The written case analysis must be 5-7 pages in length, including APA format and include 6-7 scholarly citations/references. Prepare the case analysis using APA format. It should be complete plagiarism free other wise I will get zero and I want my money back This case is based upon an actual series of events. Names and certain background information have been changed to conceal the identities of the individuals involved in the case. CASE 6.5: Avis Love, Staff Accountant “Oh no, not Store 51,” Avis Love moaned under her breath. For the third time, Avis compared the dates listed in the cash receipts journal with the corresponding dates on the bank deposit slips. Avis shook her head softly and leaned back in her chair. There was no doubt in her mind now. Mo Rappelle had definitely held open Store 51’s cash receipts journal at the end of October.1 Avis Love was a staff accountant with the Atlanta office of a large international accounting firm. Several months earlier, Avis had graduated with an accounting degree from the University of Alabama at Birmingham. Although she did not plan to pursue a career in public accounting, Avis had accepted one of the several job offers she received from major accounting firms. The 22-year-old wanted to take a two- or three-year “vacation” from college, while at the same time accumulating a bankroll to finance three years of law school. Avis intended to practice law with a major firm for a few years and then return to her hometown in eastern Alabama and set up her own practice. For the past few weeks, Avis had been assigned to the audit engagement for Lowell, Inc., a public company that operated nearly 100 retail sporting goods stores scattered across the South. Avis was nearing completion of a year-end cash receipts cutoff test for a sample of 20 Lowell stores. The audit procedures she had performed included preparing a list of the cash receipts reported in each of those stores’ accounting records during the last five days of Lowell’s fiscal year, which ended 31 October. She had then obtained the relevant bank statements for each of the stores to determine whether the cash receipts had been deposited on a timely basis. For three of the stores in her sample, the deposit dates for the cash receipts ranged from three to seven days following the dates the receipts had been entered in the cash receipts journal. The individual store managers had apparently backdated cash receipts for the first several days of the new fiscal year, making it appear that the receipts had occurred in the fiscal year under audit by Avis’s firm. Avis had quickly realized that the objective of the store managers was not to overstate their units’ year-end cash balances. Instead, the managers intended to inflate their recorded sales. Before Avis began the cutoff test, Teddy Tankersley, the senior assigned to the Lowell audit and Avis’s immediate superior, had advised her that there was a higher-than-normal risk of cash receipts and sales cutoff errors for Lowell this year. The end of Lowell’s fiscal year coincided with the end of a three-month sales promotion. This campaign to boost Lowell’s sagging sales included bonuses for store managers who exceeded their quarterly sales quota. This was the first time that Lowell had run such a campaign and it was a modest success. Fourth-quarter sales for the fiscal year just ended topped the corresponding sales for the previous fiscal year by 6 percent. When Avis uncovered the first instance of backdated cash receipts

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