Premium Essay

Something's Fishy

In: Business and Management

Submitted By anasantos
Words 1174
Pages 5
Something's Fishy at Jones Company
By Martin J. Coe, MBA, ACFE Educator Associate, CPA, CISA; Jeffrey Coussens, MFA; and John Delaney, DBA, ACFE Educator Associate, CPA, CIA
Part II for CONT 5400 at UPR-RP
COLLINS REPORTS TO REYNOLDS
Collins was proud of his analysis; he told Reynolds the company should bring this machining operation in-house so the profit margin could improve. But Reynolds was cautious. She said it would be prudent for Collins to first find out the firm to which Jones Company had outsourced this machining operation before it used Smith Company; the previous vendor might have been cheaper. She also asked Collins to examine Smith Company's vendor file.
Collins discovered that the vendor Jones Company used before Smith Company charged 50 percent less than Smith Company for the same machining operation. He also found that Jones Company had paid Smith Company more than $2 million for outsourced machining the previous year. The vendor file contained all the necessary documentation to establish Smith Company as a valid vendor; however, Smith Company had been added as a vendor after CPI purchased Jones Company. After Reynolds reviewed this information, she told Collins to perform a public records search on Smith Company.
Collins found Smith Company's articles of incorporation. The articles listed Tony DeMarco as an officer of Smith Company. DeMarco is Jones Company's production manager and Reynolds recalled seeing in the audit paperwork that DeMarco had approved payment of invoices submitted by Smith Company. She knew immediately that the problem was worse than she'd originally thought, and fraud might be afoot. The next step was for her and Collins to interview DeMarco.
AUDITORS INTERVIEW PRIME SUSPECT
Collins had never interviewed a fraud suspect before, so Reynolds, who had interviewed several, gave him some pointers. Reynolds warned him they…...

Similar Documents

Free Essay

Tactix Case Study

...Visit: Prerana Website, FB Page Tactix: The Simulation Challenge Greetings from NITIE, Mumbai! Round 2: Case of the Fishy Company April 2012: Fishy Company is a tier 1 supplier of a big automobile OEM. Fishy started its operation in the last year only i.e. around September 2011. It provides 2 sub assembly parts to the OEM. For making these parts Fishy uses 3 kinds of raw materials i.e. Metal tube, containers and cleaves. These raw materials are supplied by tier 2 suppliers who are domestic as well as international. Inventory as we all know is boon as well as bane. High inventory means high holding costs and capital tied up. Low inventory means stock outs, low customer service level and loss of reputation. So the inventory should be just right. Fishy needs your help As Fishy is a new company, the past 6-7 months it had kept stock of these raw materials based on rule of thumb. However now with the business growing they want to use some scientific models to determine how much stock they should keep for each raw material. Fishy has approached your team to prepare the scientific model. They have sent you the excel sheet “Fishy Details” (attached with mail) which has all the details about the forecast and consumption patterns of these raw materials from September 2011 to March 2012.  “Cover day norms” sheet tells you about the current cover days that Fishy keeps for its raw materials, In-transit stock and finished goods inventory at Fishy’s supplier end.  Transit and......

Words: 761 - Pages: 4

Premium Essay

Cathdral

...these words leave his mouth it is like a light goes off in his head and he sees how foolish he has been acting. His inability to describe something that he believes is so beautiful shows him the he is truly unable to see beauty in other things. This is where I believe the blind man starts to purposely do something’s to open the husbands eyes. The blind man ask the husband to draw the cathedral for him, I think that this shows the husband the importance of believing in someone. I think when the husband starts to draw and begins to think to himself about how are can I show him what I see and the beauty that I see when I look at the cathedral. I think it shows the husband that even though the blind man can’t see the cathedral with his eyes doesn’t mean he can’t appreciate it for its beauty. The final step in the husbands epiphany is when the blind man says to the husband “ never thought anything like this could happen in your lifetime, did you, bub?” to me that was like him saying if you give someone a chance instead of judging them from the outside instead of seeing the beauty within you will never make friends. I believe the author relates threw the husbands epiphany something’s that we do in society today. In society today we take our first impressions of people and without even knowing them and we put them into categorizes weather good or bad. My interpretation of this story is that everyone may be set in their own ways and are very comfortable that way, but that should......

Words: 797 - Pages: 4

Free Essay

Thesis

...ODOR (Fishy) |  |  |  | | extremely fishy |  |  |  | | very much fishy |  |  |  | | moderately fishy |  |  |  | | slightly fishy |  |  |  | | not detectable |  |  |  | |3. TEXTURE (Crunchy} |  |  |  | | Very crunchy |  |  |  | | Moderately crunchy |  |  |  | | pliable |  |  |  | | |  |  |  | |4. FLAVOR (fishy) |  |  |  | | extremely fishy |  |  |  | | very much fishy ......

Words: 4304 - Pages: 18

Free Essay

Swimmer

...Change into your suits faster; I want to see you in and out of the lockers quickly; go put on your goggles; you didn’t get your buoy and kickboard; go back and get them; get in pool and do a 500 warm up; don’t pout; just do it; remember, water is your friend, don’t fight against it; that’s not swimming; do the set again; I better see you make those intervals; swim fishy, swim; don’t slow down or I’ll make you do it again; these are sprint sets; those are not sprints; kick faster; I want white water; I don’t see white water; no, I don’t want to see knees; look at the clock, not at me; come on, make those intervals; that’s the only way to improve your times; stop breathing, it slows you down; those elbows are not supposed to be there; let me see shoulders; I want shoulders out of the water; look at me; watch how I do it; keep swimming; but there’s water in my goggles; no, leave them; get used to it; if you can’t make these intervals, you’re not supposed to be here; I need more gliding; use those hips and roll your body; close your fingers; you need to streamline pass the white lanes; you better not breathe; do your drills again; go on the top; don’t be lazy now; your stroke needs to extend; don’t slap the water, that hurts; pull as you rotate your shoulders; get plenty of sleep; eat a light lunch; go to the diving blocks and get ready; don’t be late; I have butterflies in my stomach; good, get that adrenaline going; you dropped a second, good job; your stroke is better than......

Words: 379 - Pages: 2

Free Essay

Aldskfj

...herself for all that she had done and relieved that it was finally over. ***************************************************************** Explanation: I simply chose to stick with the way Neil Gaiman wrote the story because it seemed like he was wrapping up the story. And then surprisingly he comes out with this hand that’s very dangerous. If the book didn’t contain everything it has right now it would just feel like something’s always missing. The book just gives you a thrill ride experience, and there no way that it could be better than how it already is right now. In the book Coraline, there is a great exciting conflict and a bumpy solution, and I just love it. ***************************************************************** Support (2): Coraline visits Miss Spink and Miss Forcible. They ask to read here tea leaves and immediately they are astounded. “You know, Caroline,” she said, after a while, “you are in terrible danger (page 20).” After Miss Spink says that, it’s foreshadowing that something is going to happen to Coraline. Coraline also become fishy when Mister Bobo tells her something that she knows part of, but she doesn’t understand all of it. “The mice have a message for you,” he whispered. Coraline didn’t know what to say. “The message is this. Don’t go through the door.” He paused (page 16).” After Coraline had a bad experience with the other mother and rushed home, she found her parents were missing. The whole night she was very scared and......

Words: 1415 - Pages: 6

Free Essay

My Life

...are caught between a rock and a hard place, you are in a position where you have to choose between unpleasant alternatives, and your choice might cause you problems; you will not be able to satisfy everyone. Between the devil and the deep blue sea. If you are caught between the devil and the deep blue sea, you are in a dilemma; a difficult choice. Between the lines If you read between the lines, you find the real massage in what you're reading or hearing, a meaning that is not available from a literal interpretation of the words. Beyond a shadow of a doubt If something's beyond a shadow of a doubt, then absolutely no doubts remain about it. Beyond belief If people behave in such a way that you find it almost impossible to accept that they actually did it, then you can say that their behaviour was beyond belief. Beyond our ken If something's beyond your ken, it is beyond your understanding. Beyond the pale If something's beyond the pale, it is too extreme to be acceptable morally or socially. Big Apple (USA) The Big Apple is New York. Big bucks If someone is making big bucks, they are making a lot of money. Big cheese The big cheese is the boss. Big fish in a small pond A big fish in a small pond is an important person in a small place or organization. Big hitter A big hitter is someone who commands a lot of respect and is very important in their field. Bigger fish to fry If you aren't interested in something because it isn't important to you and there are more important......

Words: 23261 - Pages: 94

Premium Essay

Manager

...http://www.acfe.com/resources/view-content.asp?ArticleID=857[8/18/2009 2:17:57 PM] © May/June Association of Certified Fraud Examiners Something's Fishy at Jones Company Classroom Case Takes Auditors from Investigation to Confession By Martin J. Coe, MBA, ACFE Educator Associate, CPA, CISA; Jeffrey Coussens, MFA; and John Delaney, DBA, ACFE Educator Associate, CPA, CIA In this following fictional case designed for classrooms or seminars, an intrepid seasoned internal audit manager and an inexperienced but willing staff auditor investigate suspicious financial activity at Jones Company. Their discoveries reveal their hunch was right, and they stop the fraud. The authors have designed this fictitious case to illustrate in courses or seminars some of the more important aspects of the fraud examination process. Of course, the authors have simplified the process to provide a more concise classroom example. Teaching notes and an accompanying DVD with video segments (not produced by the ACFE) are available at no charge from Martin Coe, mj-coe@wiu.edu. Custom Parts Inc. (CPI) of Chicago is a large original equipment manufacturer (OEM) of vehicle parts in the automotive industry. CPI has grown exponentially in the past 10 years because it purchases smaller OEMs that have an established customer base. Though CPI typically allows the companies it purchases to continue their sales and production offices, it administers all other functions from its corporate headquarters...

Words: 498 - Pages: 2

Free Essay

Fraud

...Classroom Case Demonstration “Something’s Fishy at Jones Company – from Investigation to Confession.” Designed for the classroom or a seminar, an intrepid seasoned internal audit manager and an inexperienced but willing staff auditor investigate suspicious financial activity at Jones Company. Their discoveries reveal their hunch was right, and they are able to stop the fraud. This case can be used in a classroom or seminar setting to: ● Discuss the Fraud Triangle and the importance of symptoms ● Discuss accounting symptoms of fraud ● Perform financial statement analyses to determine if fraud is suspected ● Identify and test a fraud hypothesis ● Analyze an interview ● Analyze an interrogation ● Draw conclusions and prepare fraud reports The case requirements include: 1. Perform horizontal and vertical analyses of the financial statements. 2. Describe other financial statement analyses that the auditor could have performed. 3. Describe a public records search. 4. Analyze this case using the fraud triangle. 5. What is the fraud hypothesis in this case? Session Topics This case includes teaching notes (provided on the conference website) and a video (30 minutes) depicting a suspect interview and a separate interrogation. The video highlights verbal and non-verbal cues to look for when interviewing and a non-confrontational approach to interrogation. During this session we will view the video and discuss how the case might be used in the classroom or seminar. Copies of the video......

Words: 9218 - Pages: 37

Premium Essay

What I Have Learned

...A few Things I have learned in my 18 Years Life tosses a lot of lessons, some are difficult to learn and some are easier, it’s all about how you handle it. Something’s that life wants you to know, are little and stupid and seem life they don’t have any significance to your life. However, it is either going to educate you not to do it again, or it will be a amusing story to tell your friends down the road. The little things make life a little lighter sometimes where as the large things helps you open your eyes and helps you in the long run. Life has taught me numerous things. Everyday I learn something new, adding to that list. One of the very first things that I recall learning, is to not lie on the ground attempting to look underneath the vacuum when mom is in the middle of vacuuming. For some individuals, this lesson is one that does not need to be learned, but for me, it was something I had to learn. Spending hours of crying, as my mother pulled every strand of hair out, and hours of my mom being annoyed yet laughing about it anyways because how bizarre is it, that I got my hair stuck in the vacuum. While facing the pain, I thought I learned that I should steer clear of housework; my mom on the other hand, did not. Something else I have learned is that telling someone that they look ill or worn-out, isn’t going to make him or her feel better. I, of all people should know, this because if someone were to walk up to me and say something like that, my heart would...

Words: 1101 - Pages: 5

Free Essay

Self Esteem in Adolescents with Anorexia

...none of their answers are to involve weight, food, or negativity. DISCUSSION POINTS: After the activity is completed the facilitator must encourage discussion within the group on what they have learned and gained from this experience and how they will use the information they have gathered to address their needs. OUTCOME: This activity is intended for the group to look deeper into their own feelings and what they believe they are lacking in their lives. Participants will be open to different kinds of thinking other than their own. The activity is meant to motivate participants to inner healing. REFERENCE: Medina, A. (n.d.). Motivations for Recovery - The Something Fishy Website on Eating Disorders. Eating Disorders | Anorexia | Bulimia | Binge Eating Disorder | Compulsive Overeating | The Something Fishy Website on Eating Disorders. Retrieved April 3, 2013, from http://www.something-fishy.org/reach/games_needing.php   GROUP ACTIVITY #3 (TERMINATION ACTIVITY) TOPIC: Goodbye Gifts OBJECTIVE: Upon termination of the group each participant will receive a parting gift to take with them as a reminder of wishes of hopes other members have for them along with metaphorical gifts they have received throughout group therapy. MATERIALS: • Table and chairs for all participants in group • Large piece of white poster board. • Markers and Crayons DESCRIPTIONS/INSTRUCTIONS On the day of a participant’s final group present the participant with a large piece of white......

Words: 3407 - Pages: 14

Free Essay

Fishy

...grayling spikefish pompano, steelhead trunkfish cobia goatfish lined sole? Velvetfish golden trout black bass dory, capelin trench monkfish cuskfish tapetail hammerhead shark European chub, sardine. Round stingray Dolly Varden trout southern Dolly Varden, Ganges shark bigscale huchen, mudfish! Horsefish longnose lancetfish powen sea lamprey European perch lighthousefish grunter bonnetmouth, grunter northern sea robin longfin dragonfish. Speckled trout loosejaw sole torrent catfish sand knifefish wobbegong southern Dolly Varden deepwater flathead. Chum salmon roanoke bass plaice lemon shark, jack footballfish roosterfish dab Port Jackson shark. Does your lorem ipsum text long for something a little fishier? Give our generator a try… it’s fishy! Paragraphs:...

Words: 743 - Pages: 3

Free Essay

Little Red Riding Hood

...somebody pleae help me. Narrator : Little red riding hood dodged the Wolf and shouted for help. Wolf 1 : No one is here to help you. Even your grandma shouted for help, but now she is in my stomach sleeping peacefully. Narrator : The wolf pounced on her and gulped her too in one bite. After a hearty meal, the wolf again slipped into grandma’s bed for an afternoon nap. In the meantime, the hunter was passing by the cottage and heard the strange snoring of the wolf. Hunter : What’s that strange noise ? Narrator : The hunter peeped inside. He saw the wolf sleeping on the grandma’s bed. Hunter : Where is the old woman ? Narrator : The hunter looked around and became suspicious when he saw the wolf’s bulging tummy. Hunter : Something’s fishy ! All these days you’ve been troubling others. I was just looking for you, you sly wolf. This time you cannot escape from me. Narrator : He slowly entered into the cottage and took out his hunting knife. Hunter : Let me gently cut open his stomach. I hope can save the granny from harm. Narrator : He cut open the stomach and saw the red hood. Hunter : Oh my god, little riding hood. This wolf has swallowed her too ! Narrator : First Red riding hood jumped out of the wolf’s tummy and next came out her grandma. They both were troubled by the deep darkness inside. Hunter : Are you okay my child. Red riding hood : Yeahh, but it was dark inside. Thank you kind hunter, thank you for saving me and my grandma. Grandmother :......

Words: 2199 - Pages: 9

Premium Essay

Student

...the movie. The main one being the illegal adoption of his daughter Gaby, but Alicia’s friend Ana returns from exile and confronts Roberto about his involvement in her arrest. Even Roberto’s father and brother call him out on the injustice of his practice. It would be difficult to know what I would do in that situation, but if I were Alicia I would try to do the right thing and keep in contact with Gaby’s abuelita. I do believe that Roberto had to do with the illegal adoption. What confuses me is why Alicia waited until her daughters fifth birthday to question where she came from. She should have wondered these things initially. She didn’t question how her husband got a baby with no questions asked, it seems to me like it would have been fishy from the very beginning. This movie was interesting because it didn’t show the side of the victim. Instead it focused on the lives of a family that was built on the forced separation of another family. By doing that the viewer could see how all people were affected by the crisis in Argentina in the 1980’s....

Words: 290 - Pages: 2

Free Essay

Idioms

...sometimes you just gotta let your hair down you can't judge a book by its cover spare the rod, spoil the child you're driving me insane like a fish out of water if it ain't broke, don't fix it resting on one's laurels she's got eye's in the back of her head butterflies in his stomach a taste of his own medicine cry me a river love is blind there's something fishy about that time stands still thank God it's friday A Blessing In Disguise:  Something good that isn't recognized at first.  A Chip On Your Shoulder:  Being upset for something that happened in the past.  A Penny Saved Is A Penny Earned:  By not spending money, you are saving money (little by little). A Picture Paints a Thousand Words:  A visual presentation is far more descriptive than words. An Arm And A Leg:  Very expensive. A large amount of money. An Axe To Grind:  To have a dispute with someone. Beat A Dead Horse:  To force an issue that has already ended. Beating Around The Bush:  Avoiding the main topic. Not speaking directly about the issue. Charley Horse:  Stiffness in the leg / A leg cramp.  Chew someone out:  Verbally scold someone. Don't Look A Gift Horse In The Mouth:  When someone gives you a gift, don't be ungrateful. Down To The Wire:  Something that ends at the last minute or last few seconds. Ethnic Cleansing:  Killing of a certain ethnic or religious group on a massive scale. Finger lickin' good:  A very tasty food or meal.  Green......

Words: 589 - Pages: 3

Free Essay

Waiting on the Lord

...is a time of celebration it is this time that we get together. Laugh, rejoice, fellowship together; we may even cry together. We eat some good old food, hear good singing and preaching. And we are able to connect and re-connect with old friends/places again. It reminds us of the journey God has brought us on so far in our life and how you can testify of how God has kept you from last year to this year. This celebration allows you to connect and reconnect with family and old acquaintances, and places. And many times celebrations like this allow us to see just how far we have come and to give thanks for how we made thus far. YET CHURCH I believe this morning that we We have had to endure something’s, experience something’s, encounter something’s, realize something’s and wait on something’s in order to be where we are now and where we still have to go. All of us have come to places in our lives where we felt trapped. Have you ever felt this way? Have you ever felt you was at your breaking point and no matter what you do, it wouldn’t get better. One would say you at the end of say you are at the end of your rope. At this point Optimist would say, “Just tie another not in the rope.” Pessimist would say, “Just let it go.” All of us has faced this challenge at one time or another. What do you do with a marriage that is on the rocks, or children with problems you can’t solve, or problems on job, or having more bills than money, or being restless with grief of a loved one? No......

Words: 2447 - Pages: 10