1. You have worked with ABC consulting as the marketing manager for a number of years. Each of your salespeople must submit a monthly report detailing money they spent while consulting business on behalf of ABC Consulting. Each item on the monthly report must be coded as to the effect on assets, liabilities and equity. As marketing manager, one of your duties is to review the monthly reports. One salesperson's report for September shows the following:

Date	Description of Transaction	Amount of Transaction	Effect on Assets	Effects on Liabilities	Effect on Equity
AUG. 28	Delivered market strategy report for a key customer	$150,000	Increase Cash	No effect	Increased Revenue
SEPT.10	Purchased new desk for the office to be paid in October	$1500	No effect	Increased accounts payable	Increased office expense
SEPT.2-10	Took clients for Lunch and paid cash	$680	Decreased Cash		Increased owner investment
OCT.5	Paid for September cell phone usage	$130	Decreased Cash		Increased Expenses

Required-Using the elements of the critical thinking model described on the inside front cover, respond, focussing on the following key areas:

1. What problems are identified in the September report?
2. What is the goal of the monthly report and what is the purpose of your review?
3. What assumptions have been made or principles need to be considered in presenting the transactions?
4. What are the key factors and how do we rely on the facts to identify errors in the report?
5. How will you address the issues you have found with the salesperson? (5 Marks)