2023 Exercise 1 Individual Assignment Perform a bank reconciliation as of April 1 2016 using the bank | Assignments Online

Exercise 1: Individual Assignment

1. Perform a bank reconciliation as of April 1, 2016, using the bank statement for March 2016, cash receipts journal, and cash disbursements journal.
2. Compare the front and back of checks and the deposit slips to the cash receipts and cash disbursement journals and identify:
   1. Checks where payees do not match
   2. Irregular disbursements
   3. Irregular signatures
   4. Irregular endorsements
3. Review the bank statements for disbursements not involving checks and trace to the cash disbursements journal.
   1. What are these transactions?
   2. Where and when (date and day of the week) were these noncheck transactions actually made (not when recorded)?
   3. How far is the distance between the location of these noncheck transactions and Anderson Internal Medicine?
   4. Where does Tonya Larsen live?

Review the bank statements for disbursements not involving checks and trace to the cash disbursements journal.

1. What are these transactions?
2. Where and when (date and day of the week) were these noncheck transactions actually made (not when recorded)?
3. How far is the distance between the location of these noncheck transactions and Anderson Internal Medicine?
4. Where does Tonya Larsen live?
5. What part did Tonya Larsen play in making these noncheck disbursements?
   1. Did Tonya Larsen benefit from these noncheck transactions?
6. Review the deposits.
   1. How often and when were the deposits made?
   2. Is anything missing from the deposits?
   3. How do deposits relate to the bank reconciliation?

Exercise 2: Individual Assignment

1. List the items (e.g., check numbers, transaction dates, and individual amounts) and totals of each category of fraud.
2. What are the alleged frauds (e.g., accounts receivable skimming, disbursement fraud, embezzlement, larceny, payroll fraud, skimming, other)? Discuss each one.
3. How were each of the frauds concealed?
4. What circumstances allowed the frauds to happen (e.g., internal control failures, lack of background checks, missing policies and procedures)? Discuss and be specific.
5. What would you recommend (e.g., controls, monitoring) to deter future frauds from happening? Discuss and be specific.
6. Is there anyone you would like to interview? If so, what do you want to learn from them?
7. Are there any additional steps you would like to take with respect to the fraud examination?

Exercise 3: Group Assignment—Writing Report and Associated Schedules

1. Prepare a final examination report to the attorney for Southern Appalachian Insurance and an accompanying set of schedules
2. Prepare associated audio‐visuals (e.g., one‐page chart of talking points, summary schedule of the categories of the loss, simplified schedule of the details of each category, bar/pie/or line chart). Note: Do not put the schedules and audiovisuals in a PowerPoint or similar presentation. The schedules and audiovisuals are addendums to the report and MUST be referenced in the report.