The complete Writing Project and Presentation is found in Getting Started. Upload the portion of the project due this week. Requirements: Writing, using soft

/ Accounting / By

 

The complete Writing Project and Presentation is found in Getting Started. Upload the portion of the project due this week.

Requirements:

Writing, using software, and interpreting results is a large part of your learning experience. These assignments are designed to improve your use of technology and communication skills. Using proper business English and resources from the library you will comment and share your research with your classmates. Make sure you note your source in proper APA format.

Project Information:

The owner of a small snack food and potato chip manufacturer, California Crunch Company, has asked you to investigate a possible issue with the company’s payroll.  They have provided you with this year and last year’s income statements and two payroll files.  The “HR Master” file gives you important information about each employee.  The “Payroll” file detailsthe company’s payroll for the last 5 pay periods of the year. You will be conducting some audit procedures for California Crunch and analyzing the results.

Week 4 Writing Assignment Part 4:

This project is split into four (4) parts with one (1) part due each week of the course. Based on your readings, use of technology, research of literature, and other sources do the following:

Week 4:  Present your project to the class for discussion

Due Dates: This project is completed over several weeks so be sure to follow the due dates carefully.

Grading Rubric: Please refer to the grading rubric specific requirements.

Library Assistance

ink to Keiser’s elibrary resources:  http://kesu-verso.auto-graphics.com/MVC/

PowerPoint instruction on how to use the Keiser elibrary:   Keiser Slide show Library-Orientation-login-and-navigate-lesson1.pptx Keiser Slide show Library-Orientation-login-and-navigate-lesson1.pptx – Alternative Formats

Guidance on how to log in and use the Keiser elibrary:   KU Library login guide2014October3.pdf KU Library login guide2014October3.pdf – Alternative Formats

How to cite work from the library:   How to cite work from the library.docx  How to cite work from the library.docx – Alternative Formats

This link helps with APA format:  https://owl.purdue.edu/owl/research_and_citation/apa_style/apa_formatting_and_style_guide/general_format.html

Graded Activity:

Click on Getting Started to review the requirements for the writing project.  Then click the title link above labeled “Week 3 Writing Project – Part 3” to upload part 3 of the writing project.

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California Crunch Company Financial Statement

Valery Salazar

Keiser University

Auditing 1

 Dr. Jennifer Bolden

March 11, 2023

California Crunch Company Financial Statement

Introduction:

The income statement for the years ending 31 December 2018 and 2017 of the California Crunch Companies summarizes the business’s financial position. The income statement will be dissected, and steps will be suggested for raising the company’s bottom line in this article (Bussoli et al., 2023). The income accounts for the year ending December 31, 2018, of California Crunch Companies include the company’s sales, costs, and net income. Payroll costs, gross pay, deductions, and net pay may all be seen on the financial statements. This report aims to summarize and evaluate the financial statements of California Crunch Corporation (Conroy et al. 2022).

2.1 Sales and Cost of Goods Sold:

In 2018, California Crunch Industry’s net sales were $8,353,542, up 4% from 2017’s $7,998,832. The total cost of sales was up by 3%, from $3,621,532 in 2017 to $3,745,623 in 2018. While the uptick in revenue is encouraging, the corporation can boost its gross profit margin by cutting its cost of goods.

2.2 Gross Margin:

From $4,377,300 in 2017 to $4,607,919 in 2018, a 5% rise was seen in gross margin. Gross margin improvement is encouraging, but the firm has to sustain it by cutting costs and driving up sales. The long-term financial sustainability of the firm depends on keeping a stable gross margin. Improving operating efficiency, obtaining cheaper rates with suppliers, and investing in sales and marketing strategies to extend the client base are all things the firm should be doing to reduce the cost of products sold and increase revenues.

2.3 Operating Expenses:

Overall costs rose by $700,000, or 7%, to $3,130,312 in 2018 from $2,926,980 in 2017. Wages and salaries increased by 9 percent, which is a lot compared to inflation and other costs. To save on expenses, management must examine the company’s pay scale.

The corporation may examine its compensation, wage structures, and other operational expenditures to see where savings might be made. To do so, the company may renegotiate contracts with its suppliers, cut down on discretionary expenditure, and enhance the effectiveness of its operations (Iacuzzi, 2022).

2.4 Operating Income:

Revenue from operations rose from $1,450,320 in 2017 to $1,477,607 in 2018, a 2% increase. An uptick in operating revenue is encouraging, but the firm may do even better by cutting its operational costs to boost its bo

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California Crunch Company Financial and Ratio Analysis

Valery Salazar

Keiser University

Auditing 1

 Dr. Jennifer Bolden

March 19, 2023

California Crunch Company Financial and Ratio Analysis

Introduction

For the California Crunch Company’s financial statements, revenue, COGs, and operational expenditures may all be compared from 2017 to 2018 using a horizontal analysis. Just dividing sales revenue by net sales yields the gross profit margin. Additionally, the current and debt-to-equity ratios can be calculated to assess the company’s liquidity and solvency (Conroy et al., 2022).

Performing preliminary analysis and establishing a key expectation

In Excel, I compared 2017 and 2018’s net sales and COGs utilizing a horizontal analysis to evaluate financial reports. Although business’s net sales increased by 4%, the COGs rose by 3%, showing that it has to lower its product price to enhance its gross profit margin.

I analyzed the financial statements by comparing 2017 and 2018 performance side-by-side. The study displays the year-over-year percentage change within every line item. I also calculated the gross and net profit margin ratios (Bussoli et al., 2023). The results are as follows:

Horizontal Analysis:

· Net Sales increased by 4%

· The cost of Goods Sold increased by 3%

· Gross Margin increased by 5%

· Operating Expenses increased by 7%

· Operating Income increased by 2%

· Interest Expenses increased by 1%

· Other Income increased by 3%

· The income Tax filing threshold increased by 2%

· Net Income increased by 2%

Gross Profit Margin:

2017: $4,377,300 / $7,998,832 = 54.73%

2018: $4,607,919 / $8,353,542 = 55.11%

Net Profit Margin:

2017: $891,862 / $7,998,832 = 11.15%

2018: $909,265 / $8,353,542 = 10.89%

For the payroll analysis in IDEA, I performed tests to check for duplicate employee IDs, same pay periods and missing employee information. I also calculated the average hourly wage and overtime hours for each employee. These tests ensure that the payroll data is accurate and complete.

· Explanation of analyses:

· Horizontal analysis: This analysis helps to identify trends and changes in the financial statements from year to year.

· Gross profit margin: After subtracting the price of products sold from total sales, this ratio indicates the proportion of revenue retained as profit. If the ratio is greater, the business is doing well.

· Net profit margin: Using this metric, you can see what prop

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California Crunch Company Result Analysis

Valery Salazar

Keiser University

Auditing 1

Dr. Jennifer Bolden

March 25, 2023

Results Analysis and Internal Controls Recommendation

Introduction

Comparing the Three Gross Pay Payment Periods for Employee ID 217, The investigation concluded that the payment was legitimate since the employer accurately reflected the employee’s pay rate and working hours on the pay stub. Yet, it is clear that the identical payroll checks as specified on the payroll slip were issued after reviewing the identical payroll checks, tax, or deductions (Conroy et al. 2022). For example, on November 2, 2018, the assumption was 0.2163 for the base pay rate of $23.91, and the reduction was 0.3199 for the base pay rate of $24.90 on the same day. Dates 14 December 2018 are another example, with pay rates of 23.91 and 24.90, respectively, using presumptions of 0.2163 and 0.3199. As just one worker is represented in the pay stub, the analysis table contains no information on former workers who were let go. Employment ID 217’s gross compensation is correct. The paycheck is proof of employment by detailing the employee’s wages, deductions, and hours worked. The employee has proof that identical computations and deductions were made from both payroll checks. For instance, on November 2, 2018, 0.2163 was subtracted from the 23.91 hourly rates and 0.3199 from the 24.90 hourly rates. On the same day in 2018, deductions of 0.2163 were taken from the 23.91 hourly rates, and 0.3199 were taken from the 24.90 hourly rates. This investigation proves the gross salary associated with employee ID 217 is correct. As just one worker is shown on the pay stub, the analysis also confirms that there were no layoffs. This further verifies that the employee’s gross salary is accurate. In addition, the pay period and rate shown on the pay stub were adhered to correctly by the employer. This shows that the company has been respectful of the employee’s rights and has been meeting its commitments (Bussoli et al., 2023)

A further investigation into the issue of unpaid workers and their deductions was conducted. Workers 212, 333, 396, and 885 don’t have any means of support or motivation. There was a lot of redundancy in the payroll system, which made it difficult to manage. An employee with the ID number 212 has been copied five times, and so have the ID numbers 333, 396, and 885. There was also no deception since there was. In the second round of calculations, workers 212, 333, 396, and 885 were found to be missing income and deductions. Research revealed that worker 212 was mentioned five times, whereas the other three were only li

  The complete Writing Project and Presentation is found in Getting Started. Upload the portion of the project due this week. Requirements: Writing, using software, and interpreting results is a large part of your learning experience. These assignments are designed to improve your use of technology and communication skills. Using proper business English and resources from the library you will comment and share your research with your classmates. Make sure you note your source in proper APA format. Project Information: The owner of a small snack food and potato chip manufacturer, California Crunch Company, has asked you to investigate a possible issue with the company’s payroll.  They have provided you with this year and last year’s income statements and two payroll files.  The “HR Master” file gives you important information about each employee.  The “Payroll” file detailsthe company’s payroll for the last 5 pay periods of the year. You will be conducting some audit procedures for California Crunch and analyzing the results. Week 4 Writing Assignment Part 4: This project is split into four (4) parts with one (1) part due each week of the course. Based on your readings, use of technology, research of literature, and other sources do the following: Week 4:  Present your project to the class for discussion Due Dates: This project is completed over several weeks so be sure to follow the due dates carefully. Grading Rubric: Please refer to the grading rubric specific requirements. Library Assistance ink to Keiser’s elibrary resources:  http://kesu-verso.auto-graphics.com/MVC/ PowerPoint instruction on how to use the Keiser elibrary:   Keiser Slide show Library-Orientation-login-and-navigate-lesson1.pptx Keiser Slide show Library-Orientation-login-and-navigate-lesson1.pptx – Alternative Formats Guidance on how to log in and use the Keiser elibrary:   KU Library login guide2014October3.pdf KU Library login guide2014October3.pdf – Alternative Formats How to cite work from the library:   How to cite work from the library.docx  How to cite work from the library.docx – Alternative Formats This link helps with APA format:  https://owl.purdue.edu/owl/research_and_citation/apa_style/apa_formatting_and_style_guide/general_format.html Graded Activity: Click on Getting Started to review the requirements for the writing project.  Then click the title link above labeled “Week 3 Writing Project – Part 3” to upload part 3 of the writing project. 1 2 California Crunch Company Financial Statement Valery Salazar Keiser University Auditing 1  Dr. Jennifer Bolden March 11, 2023 California Crunch Company Financial Statement Introduction: The income statement for the years ending 31 December 2018 and 2017 of the California Crunch Companies summarizes the business’s financial position. The income statement will be dissected, and steps will be suggested for raising the company’s bottom line in this article (Bussoli et al., 2023). The income accounts for the year ending December 31, 2018, of California Crunch Companies include the company’s sales, costs, and net income. Payroll costs, gross pay, deductions, and net pay may all be seen on the financial statements. This report aims to summarize and evaluate the financial statements of California Crunch Corporation (Conroy et al. 2022). 2.1 Sales and Cost of Goods Sold: In 2018, California Crunch Industry’s net sales were $8,353,542, up 4% from 2017’s $7,998,832. The total cost of sales was up by 3%, from $3,621,532 in 2017 to $3,745,623 in 2018. While the uptick in revenue is encouraging, the corporation can boost its gross profit margin by cutting its cost of goods. 2.2 Gross Margin: From $4,377,300 in 2017 to $4,607,919 in 2018, a 5% rise was seen in gross margin. Gross margin improvement is encouraging, but the firm has to sustain it by cutting costs and driving up sales. The long-term financial sustainability of the firm depends on keeping a stable gross margin. Improving operating efficiency, obtaining cheaper rates with suppliers, and investing in sales and marketing strategies to extend the client base are all things the firm should be doing to reduce the cost of products sold and increase revenues. 2.3 Operating Expenses: Overall costs rose by $700,000, or 7%, to $3,130,312 in 2018 from $2,926,980 in 2017. Wages and salaries increased by 9 percent, which is a lot compared to inflation and other costs. To save on expenses, management must examine the company’s pay scale. The corporation may examine its compensation, wage structures, and other operational expenditures to see where savings might be made. To do so, the company may renegotiate contracts with its suppliers, cut down on discretionary expenditure, and enhance the effectiveness of its operations (Iacuzzi, 2022). 2.4 Operating Income: Revenue from operations rose from $1,450,320 in 2017 to $1,477,607 in 2018, a 2% increase. An uptick in operating revenue is encouraging, but the firm may do even better by cutting its operational costs to boost its bo 1 2 California Crunch Company Financial and Ratio Analysis Valery Salazar Keiser University Auditing 1  Dr. Jennifer Bolden March 19, 2023 California Crunch Company Financial and Ratio Analysis Introduction For the California Crunch Company’s financial statements, revenue, COGs, and operational expenditures may all be compared from 2017 to 2018 using a horizontal analysis. Just dividing sales revenue by net sales yields the gross profit margin. Additionally, the current and debt-to-equity ratios can be calculated to assess the company’s liquidity and solvency (Conroy et al., 2022). Performing preliminary analysis and establishing a key expectation In Excel, I compared 2017 and 2018’s net sales and COGs utilizing a horizontal analysis to evaluate financial reports. Although business’s net sales increased by 4%, the COGs rose by 3%, showing that it has to lower its product price to enhance its gross profit margin. I analyzed the financial statements by comparing 2017 and 2018 performance side-by-side. The study displays the year-over-year percentage change within every line item. I also calculated the gross and net profit margin ratios (Bussoli et al., 2023). The results are as follows: Horizontal Analysis: · Net Sales increased by 4% · The cost of Goods Sold increased by 3% · Gross Margin increased by 5% · Operating Expenses increased by 7% · Operating Income increased by 2% · Interest Expenses increased by 1% · Other Income increased by 3% · The income Tax filing threshold increased by 2% · Net Income increased by 2% Gross Profit Margin: 2017: $4,377,300 / $7,998,832 = 54.73% 2018: $4,607,919 / $8,353,542 = 55.11% Net Profit Margin: 2017: $891,862 / $7,998,832 = 11.15% 2018: $909,265 / $8,353,542 = 10.89% For the payroll analysis in IDEA, I performed tests to check for duplicate employee IDs, same pay periods and missing employee information. I also calculated the average hourly wage and overtime hours for each employee. These tests ensure that the payroll data is accurate and complete. · Explanation of analyses: · Horizontal analysis: This analysis helps to identify trends and changes in the financial statements from year to year. · Gross profit margin: After subtracting the price of products sold from total sales, this ratio indicates the proportion of revenue retained as profit. If the ratio is greater, the business is doing well. · Net profit margin: Using this metric, you can see what prop 1 2 California Crunch Company Result Analysis Valery Salazar Keiser University Auditing 1 Dr. Jennifer Bolden March 25, 2023 Results Analysis and Internal Controls Recommendation Introduction Comparing the Three Gross Pay Payment Periods for Employee ID 217, The investigation concluded that the payment was legitimate since the employer accurately reflected the employee’s pay rate and working hours on the pay stub. Yet, it is clear that the identical payroll checks as specified on the payroll slip were issued after reviewing the identical payroll checks, tax, or deductions (Conroy et al. 2022). For example, on November 2, 2018, the assumption was 0.2163 for the base pay rate of $23.91, and the reduction was 0.3199 for the base pay rate of $24.90 on the same day. Dates 14 December 2018 are another example, with pay rates of 23.91 and 24.90, respectively, using presumptions of 0.2163 and 0.3199. As just one worker is represented in the pay stub, the analysis table contains no information on former workers who were let go. Employment ID 217’s gross compensation is correct. The paycheck is proof of employment by detailing the employee’s wages, deductions, and hours worked. The employee has proof that identical computations and deductions were made from both payroll checks. For instance, on November 2, 2018, 0.2163 was subtracted from the 23.91 hourly rates and 0.3199 from the 24.90 hourly rates. On the same day in 2018, deductions of 0.2163 were taken from the 23.91 hourly rates, and 0.3199 were taken from the 24.90 hourly rates. This investigation proves the gross salary associated with employee ID 217 is correct. As just one worker is shown on the pay stub, the analysis also confirms that there were no layoffs. This further verifies that the employee’s gross salary is accurate. In addition, the pay period and rate shown on the pay stub were adhered to correctly by the employer. This shows that the company has been respectful of the employee’s rights and has been meeting its commitments (Bussoli et al., 2023) A further investigation into the issue of unpaid workers and their deductions was conducted. Workers 212, 333, 396, and 885 don’t have any means of support or motivation. There was a lot of redundancy in the payroll system, which made it difficult to manage. An employee with the ID number 212 has been copied five times, and so have the ID numbers 333, 396, and 885. There was also no deception since there was. In the second round of calculations, workers 212, 333, 396, and 885 were found to be missing income and deductions. Research revealed that worker 212 was mentioned five times, whereas the other three were only li

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