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　　一. Essay 1
　　Background: A firm has only one salesperson, who’s in charge of setting the credit term, billing and collecting the returned parts. All returned parts are not entered into the account, and are recognized as other revenues when these returned parts are sold.
　　1.  Identify the objectives of internal control
　　1.effectiveness and efficiency of operations
　　2.reliability of financial reporting
　　3.compliance with applicable laws and regulation
　　4.safeguarding of assets
　　2.  Identify and explain 4 Weaknesses in internal control concerning segregation of duties
　　1.salesperson shouldn’t have the authority of setting the credit terms,where he can give the customer credit terms discretionarily.
　　2.the salesperson shouldn’t bill and collect the returned parts,which violate the segregation of duty of authority and custody.
　　3.the sales person shouldn’t be responsible for accounting,which violate the principle of segregating the authority job and record keeping job
　　4.the sales person shouldn’t be responsible for collecting the returned parts and the accounting job,Because when less returned goods recorded than actually happened ,it is difficult to detect
　　3. Identify and explain segregation of duties
　　segregation of duties involves assigning different employees to perform functions such that an employee acting alone is prevented from committing an error or concealing a fraud in the normal course of his duties.
　　there are four types of responsibilities should be segregated:
　　1.the authority to execute transactions.
　　2.record keeping of the transactions
　　3.custody of the assets affected by the transactions.
　　4.periodic reconciliation of the existing assets to recorded amounts.
　　4.  Identify the conflicts the accountant faced according to the Standard Code of Ethics. The proper course of actions.（one accountant 發(fā)現(xiàn)這些不妥，要怎樣反饋給老板）
　　It conflicts with the standard of “disclose delays or deficiencies in information timeliness,processing,or internal controls” and “recognize and communicate professional limitations that preclude responsible judgment”
　　Actions:
　　1.set the internal control system .
　　2.set the internal audit system .
　　3.optimize the control environment.
　　高頓網(wǎng)校小編為您介紹美國(guó)各所大學(xué)：賓夕法尼亞大學(xué)
　　賓夕法尼亞大學(xué)（University of Pennsylvania ），簡(jiǎn)稱(chēng)賓大，位于賓夕法尼亞州的費(fèi)城，是美國(guó)一所著名的私立研究型大學(xué)，八所常青藤盟校之一。創(chuàng)建于1740年，是美國(guó)第四古老的高等教育機(jī)構(gòu)，也是美國(guó)*9所從事科學(xué)技術(shù)和人文教育的現(xiàn)代高等學(xué)校。本杰明·富蘭克林是學(xué)校的創(chuàng)建人。賓夕法尼亞大學(xué)University of Pennsylvania 在藝術(shù)、人文、社會(huì)科學(xué)、建筑與工程教育上處于領(lǐng)先地位，其中最為知名的學(xué)科是商學(xué)、法學(xué)與醫(yī)學(xué)。