week 3 term paper
Stephaniearpi
Week3Lesson1.pptx
ACCT601 Week 3 Lessen
An excellent example of the week 2 term paper
The Importance of Audit Planning
The article by Gartland (2017) highlights an important step in an audit process, planning. According to the article, audit planning is not a simple process. It involves consideration of client industry and regulatory factors, client operations and administration, availability and assignment of firm resources, engagement timing, and much more. In addition, the article touches on auditing standards established by the AICPA related to planning an external audit. Though this article is about four years old, it carries significance in today’s audit procedure.
Gartland, D. J., C.P.A. (2017). The importance of audit planning. Journal of Accountancy, 224(3), 14-15. https://www.proquest.com/trade-journals/importance-audit- planning/docview/1933270057/se-2?accountid=44759
Term Paper – Week 3 Requirement
Complete the problem statement for your course project. You should discuss the topic problem for your term paper and a minimum of three to five problems that you intend to research related to your topic.
Sample – Finalized Problem Statement
Problem Statement - There are three issues that arise with inventory management which are inventory obsolescence, inventory seasonality and inventory shortages/overages. Consignment inventory can help address the inventory issues listed above.
Sample – 3 to 5 problems
I intend to research the impact of inventory obsolescence when companies hold consignment inventory. I will be answering the question does consignment inventory alleviate the cost of inventory obsolescence? I intend to show the difference between companies that currently use consignment inventory and those who do not. I plan on showing which types of business have the greatest impact regarding inventory obsolescence.
I also intend to research the inventory management benefits regarding the usage of consignment inventory. I plan to answer the question does consignment inventory help manage inventory shortages or overages?
Another issue I plan to research is the impact of working capital (cash flow) when consignment inventory is utilized. There are three areas that affect working capital which is DSO (days sales outstanding) which is the inflow of cash, DIO (days inventory outstanding) how long is cash being used for inventory and DPO (days payable outstanding) which is the outflow of cash. I will discuss the favorability to working capital due to consignment inventory.
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