Information Systems for Accountants.
Information Systems for Accountants
Follow the instruction to write 1500words report with a spreadsheet
You need to write the report based on the given journal entry.
And at the end, you need to adjusted all incorrect journal entry on excel.
All the work must be original
Turn it in report is requiredYou are a financial auditor and work on the ABC Building Ltd account. The Audit Partner is
suspecting that the CEO (Peter Pan) has used financial statement fraud techniques to inflate
net income and get higher bonuses.
Your Audit Partner is suspecting the following fraud schemes having been applied to inflate
net income:
• Concealed Cost of Goods Sold
• Fictitious Revenue
• Improper Asset Valuation
The General Journal
You are provided with two years of general journal data. The financial year start date is 1
June.
Your Task
Download the data file from vUWS to your computer. Please note that the materiality for the
engagement is $100,000. It is also important to note that bookkeeping is regularly done on
weekends.
Analyze the general journal using the various tools and features in a spreadsheet software
(such as Microsoft Excel) specifically addressing the above mentioned fraud schemes.
Identify no more than 20 transactions that would need to be investigated further. From these
transactions narrow down and specifically identify transactions that you suspect have been
applied to inflate income under the three fraud schemes stated above.
Write a report summarizing your findings on the analyses of the general journal of ABC
Building Ltd. In this report, provide a brief introduction of your task, outline the methods and
procedures you used in the spreadsheet software to identify the fraudulent transactions and
then present your findings (discuss the transactions that relate to each of the fraud schemes
stated above and how they were used to achieve the particular fraud scheme). Attach the final
spreadsheet with your report. In the spreadsheet include a new sheet to present the specific
journals that you have identified as fraudulent (categorized by fraud schemes given above).
You should provide proper and appropriate names to all sheets within the spreadsheet and the
spreadsheet file.
Information Systems for Accountants
