Acct100 discussion
Week 1
Link to information:
1.Based on the Uber accounting error discussed in the video introduction, select one of the following options and discuss how it may have prevented the dilemma associated with the payments to the drivers? Why is this so important?
Option A: Review required deductions for accuracy prior to finalizing payroll.
Option B: Ensure all payroll personnel are properly trained on payment agreement policy for drivers.
Option C: Hire more competent accounting managers.
*Part 2: Respond to a Peer (I added a peer post to reply to )Read a post by one of your peers and respond, making sure to extend the conversation by asking questions, offering rich ideas, or sharing personal connections.
Lakisha Washington RE:
I think the most important thing Uber could have did to prevent this oversight from the beginning is to hire more competent account managers. The most important thing about a business is that all employees are made aware of what it take for the business to be success and what things can decline the business and potentially effect there job. The knowledge in ever department of a business is extremely important because revenue is what creates and provides for the employees. Having people that are not aware and that don't take there job and knowledge seriously can cause very big oversights and is puts a strain on the revenue in the business. For example one time I worked in another department at my job when I work in the depart my pay is different but the senior pay clerk left and the company was in search of someone to fill the position.However, the new person was not properly trained I mentioned the overpayment to them the first time but every time it happened I did not feel it was my responsibility to let them know how to do their job. I felt it was my responsibility the first time but every time after that I felt like it was the accounting department responsibility to proper train their staff on how to figure payroll for people that worked in more than one department
2.link to information
As discussed in the video introduction, accounting fraud in large public companies has produced its fair share of major news headlines over the past 20 years. Even though laws like Sarbanes Oxley have been put in place to minimize the opportunity for financial fraud, the threat is still real in today’s corporate environment. Imagine you have been hired to oversee the financial audit of a major company in your city. During the audit, one of the company’s employees has disclosed a potential fraud situation involving an accounting department supervisor.
In addition to alerting your own manager about the situation, which one of the following options below would you choose to perform next as you proceed with your investigation? Only choose one.
Option A: Gather additional information by interviewing other company employees.
Option B: Meet with other members of the management team to discuss the company’s current internal controls for preventing fraud.
Why do you feel your choice would be most effective?
Discuss the reasoning for your selection.
Part 2: Respond to a Peer
Read a post by one of your peers and respond, making sure to extend the conversation by asking questions, offering rich ideas, or sharing personal connections.
Teresea Thomas
RE:
Hello Class,
The option that I chose to go with is option b, meet with other members of the management team to discuss the company's current internal controls for preventing fraud. I believe that this option my be best because speaking with people in a management position may give you better insight on how the company is ran. They may know why this is happening more than an outsider probably will. The company needs to make sure that they have the internal control controlled because that is where a lot of the fraud is happening. You may get a better understanding of what is going on and get to know everyone on that level. With everyone seeing how serious this fraud situation can be, they may act a little different and also try to prevent it from happening. They employees will be more alert about the situation.
https://blackboard.strayer.edu/webapps/osv-kaltura-bb_bb60/LtiMashupPlayIframeWrapper?playUrl=/browseandembed/index/media/entryid/1_quov7vvt/oadDate/false/playerSize/400x285/playerSkin/31110461/
Based on the Uber accounting error discussed in the video introduction, select one of the following options and discuss how it may have prevented the dilemma associated with the payments to the drivers? Why is this so important?
Option A: Review required deductions for accuracy prior to finalizing payroll.
Option B: Ensure all payroll personnel are properly trained on payment agreement policy for drivers.
Option C: Hire more competent accounting managers.
Part 2: Respond to a Peer
Read a post by one of your peers and respond, making sure to extend the conversation by asking questions, offering rich ideas, or sharing personal connections.
Sonya Williams
Professor and Classmates,
The issue surrounding the situation of payroll for uber drivers I believe all are equally at fault. This situation causes many individuals to start pointing the finger for blame. Therefore, I chose option C to hire more competent account managers that are aware of the policy and produces to follow in accordance with regulation address pay and payroll. To have a successful company meeting and training should always be in the planning and future goals of an organization. To ensure success and mission accomplishment I could go further to say it would be ideal to have an outside accountant agency that can handle payroll. Having competent account managers that are diligent in their role as supervisors and manager can foresee any issues or concerns ahead of time. When they are properly trained these issues are a non-factor or could have been caught earlier. The last thing any new company wants to have pay issues with its employees that cause so many issues to the fact of many individuals quitting causing drama for the organization.
Sonya