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Essay / Research Paper Abstract
This 8 page paper is based on a case study provided by the student. Bright home builders is a Chinese construction company, they face a number of internal control issues; poor control over employees and poor accounting standards. The paper looks at three strategic alternatives for each issue which may be adopted to remedy the problems along with the advantages and disadvantages associated with their strategies. The bibliography cites 3 sources.
Page Count:
8 pages (~225 words per page)
File: TS14_TEbrightH.rtf
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Unformatted sample text from the term paper:
in the needs to move staff around. Where work is being undertaken it is not always up to standard, the result of this is increased costs when work needs to
be redone. The employees are taking advantage of the trust placed in them as employees, some are billing for hours not worked, some employees are not on site when expected.
In addition to this there is also a potential problem with Miss Zhao, at best Mr. Wang is lost without her as she is the only one who understands the
payroll system installed and she is also responsible for paying al of the bills. There is also a potential for fraud, as there are no checks or balances on her
work, and she appears to have more money than she earns. 2. Poor financial reporting standards; Mr. Wang is considering looking at joint venture with a US firm. However, the
current accounting standards are poor, and would not be sufficient to gain a partner, especially with reference to the Sarbanes-Oxley Act. The current accounts had assets which do not exist,
and are not accounting for all revenues. This is a problem not as it appears that if a joint venture does go ahead, he may be held personally accountable for
any inaccuracies. In addition to this there is talk of the Chinese government adopting similar standards. It may be argued that the
acceptance and knowledge of these accounting practices are also having an impact on the behavior of the staff, who feels that if Mr. Wang can falsify his accounts then it
is accountable for them to do the same. Alternatives for Issue 1 There are a number of strategies which can be adopted to increase the level of control
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