ACC 700 Milestone two Newham Company
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The second milestone is a rough draft of the second artifact for your professional portfolio, a sample audit. The sample audit will consist of three main parts:the business risk analysis, the sample audit program, and the report of recommendations. Thiswill be graded using the rubric at the end of this document and is an opportunity for you to organize your thoughts and receive feedback from your instructor for the final submission. Note that the submission guidelines for this milestone are less demanding than those for the final submission. Once you have submitted this milestone and receivedfeedback from your instructor,it is up to you to incorporate this feedback and complete the artifact by meeting thesubmission requirements found in the Final Project Guidelines and Rubric document.
Newham Company Information
Newham Company is a publicly traded company operating in the “personal product” industry.Newhammanufactures cosmetic and body-care products.These products are sold to large department chain stores, such as Target and Walmart,to be sold and distributed to the final consumer. Competitors include Revlon, Inc.(REV –NYSE) and Avon Products, Inc.(AVP -NYSE).
NewhamCompany has experienced steady growth over the past several years. Recently, there has been a change in executive management, includingthe CEO and CFO.The change was sparked by questionable bonus paymentsthat werepaidto the executive management teambased on the company’s performance.In addition, a recent lawsuit has been filed based on claims that a new product was not properly advertised,leading many customers to experienceallergic reactions.
Sales and Accounts Receivable
A sample of weekly sales invoices shall be analyzed from the sales report by product category. All sales are on account. Sales are classified into four product categories: cosmetics, skin...