...acquisition of long-term asset, depreciation of long-term asset, and allocation of cost in lump-sum purchase. The long-term asset account, depreciation and accumulated depreciation of long-term asset accounts should be detected for material misstatements. Finally, auditor should detect material misstatements in disclosure of depreciation and method of cost allocation for Little Drummer Boy Inc. In performing substantive procedures, auditor should test errors or fraud in (1) individual transactions (2) the ending financial statement account balances and disclosures. For Little Drummer Boy Inc. the engagement team didn’t test the long-term asset account and corresponding payable account to determine whether the fair value of property, plant, and equipment is properly recorded. Moreover, auditors didn’t performed tests in determine whether depreciation of plant and equipment is properly recorded in depreciation expense and accumulated depreciation accounts in accordance to estimations on useful life of the plant and equipment. The ending balance in plant and equipment should also be tested. The same procedures should be applied to test whether each asset account is properly debited in accordance to the amount of cost allocated to the particular asset. Ending balances in each of those asset accounts should add up to the total fair value of the plant ($865). In addition to tests on individual transactions and ending financial statement account balances, the engagement team should...
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...information technology (IT) and marketing strategies, thereby aiming at building long-term relationships and profitability. It is vital to maintain appropriate Customer Information management systems by acquiring customer databases and consolidating customer feedback. Companies interact with customers, treat them as organizational assets, learn about them and through the process of incorporating feedback and co-creation develop a level of intimaxy with them. e-CRM Important CRM goal is to build long-term and profitable relationships with chosen customers and further get closer to those customes with every point of contact with them. primary objective of most org is Customer Acquisiton followed by Customer Retention. Heart of Marketing is relationships and nurturing long-term relationships should be the goal of marketing practice. Definition e-CRm: activities to manage customer relationships by using the Internet, web browsers or other electronic touch points. A higher degree of interactivity possessed by these channels further allows companies to: * Engage in dialogue * Organize consumer redressal * Solicit feedback * Respond to controversies * Establish and sustain long-term customer relationships Comp need to rethink the most basic business relationship- the one btw. The organization and its customers. Despite media hype about the Internet changing rules of engagement with customers, it has not changed the underlying...
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...[pic] Work-life balance, employee engagement and discretionary effort A review of the evidence March 2007 Literature review by Dr Mervyl McPherson of the EEO Trust. Extracts from this publication may be copied and quoted with acknowledgement. ISBN No: 0-9582233-4-3 Equal Employment Opportunities Trust PO Box 12929 Penrose Auckland New Zealand Phone: 64 9 525 3023 Fax: 64 9 525 7076 Table of Contents Preface 3 Executive summary 4 1.0 Introduction 6 2.0 Definitions and evidence of relationships 6 2.1 Work-life balance 6 2.1.1 Productivity 7 2.1.2 Relationship between work-life balance and productivity 8 2.2 Workplace/work-life culture 11 2.2.1 Relationship between work-life balance and workplace culture 12 2.3 Discretionary effort and employee engagement: going the extra mile 16 2.3.1 Relationship between discretionary effort/employee engagement and productivity/profitability 20 2.3.2 Relationship between work-life balance and discretionary effort 21 2.3.3 Relationship between workplace culture and discretionary effort 23 2.4 Summary of inter-relationships of key factors 24 3.0 Changing a workplace culture 26 3.1 Case studies of culture change 27 4.0 Conclusion 29 5.0 References 30 Preface Employee engagement has been identified as critical to competitive advantage in a labour market where skilled, committed...
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...indirect financial interest in a client b. A loan or guarantee to or from a client or any of its directors or officers c. Undue independence on total fees from a particular client d. Concern about the possibility of losing the engagement e. Having a close business relationship with a client f. Potential employment with a client g. Contingent fees relating to an engagement 2. Self-review threat – the threat that a professional accountant will not appropriately evaluate the results of a previous judgment made or service performed in forming a conclusion about the subject matter of the engagement. Examples of the circumstances that may create self-review threat include: a. A member of the engagement team being, or having recently been, a director or officer of the firm. b. A member of the engagement team being, of having recently been, an employee of the client in a position to exert direct and significant influence over the subject matter of the engagement. c. Performing services for a client that directly affect the subject matter of the engagement. d. Preparation of original data used to generate financial statements or preparation of other records that are the subject matter of another engagement. e. Reporting on the operation of financial systems after being involved in their design or implementation. f. The discovery of a significant error during re-evaluation of the work of the professional accountant in public practice...
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...ENGAGEMENT Engagement and motivation The two are not the same, say John Sylvester and Ruth Patel mployee engagement has become a popular management term, often used to describe how organisations have approached the issue of productivity or morale among staff. It is widely used when discussing issues such as staff motivation, loyalty, retention, reward and recognition. E Engagement is a hot topic, but the signs are that few organisations are doing it well. Only 13 per cent of employees worldwide are engaged at work, according to GaUup's 142-country study The State of the Global Workplace carried out last October. The study suggests that only about one in eight workers are psychologically committed to their job and likely to be making a positive contribution to their organisations. It is vital to recognise that engagement is not the same as motivation. L8dD professionals need to ensure that employees are broadly engaged with the aims of their organisations before they can even think about implementing reward and recognition schemes aimed at boosting motivation. Such initiatives hope to achieve specific sales goals or service levels but, without engagement, there is a real danger that they will be met with indifference or cynicism. Employees will be more engaged if they feel they are learning and growing in their role and adding real value to the goals of the business. L8dD professionals have a critical role to play here: if they can foster...
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...Why does stakeholder engagement matter? Stakeholder engagement is considered to be important for the long -term success of the business. Nowadays more businesses are concerned about collaboration since they realize that emotions play a great role in determining business outcomes. In recognizing this, they tend to use more communication strategies aimed at engaging their customers more broadly and deeply. Here’s a map showing the significant impact of that stakeholder engagement events have on customer perception. http://www.coleridgeconsulting.co.uk/our-services/stakeholder_engagement_benefits.htm This is how I think about why stakeholder engagement is important: Stakeholder engagement displays the willingness to listen. It enables two-way communication which not only provides information but also seeks new inputs to the system. By receiving more information from customers, it leads to effective decision making by addressing possible problems in advance. Stakeholder engagement help managing business risks. Stakeholder engagement shifts from individual to shared responsibility. It turns opposition into support that helps building emotional connection to the organization and create organisational loyalty. By understanding how people are motivated, it allows the company to more easily identify new solutions that get greater stakeholder buy in. Moreover, when people feel be engaged, they are willing to put extra effort towards the business that they trust or...
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...Customer engagement Customer engagement (CE) is the engagement of customers with one another, with a company or a brand. The initiative for engagement can be either consumer- or company-led or the medium of engagement can be on or offline. CE aims at long-term engagement, encouraging customer loyalty and advocacy through word-of-mouth. Online customer engagement is qualitatively different from offline engagement as the nature of the customer’s interactions with a brand, company and other customers differ on the internet. Leveraging customer contributions is an important source of competitive advantage – whether through advertising, user generated product reviews, customer service FAQs, forums where consumers can socialise with one another or contribute to product development. Customer engagement is about encouraging your customers to interact and share in the experiences you create for them as a business and a brand. When executed well, a strong customer engagement strategy will foster brand growth and loyalty. NEED: CE-marketing is necessitated by a combination of social, technological and market developments: 1. Businesses are losing the power to dictate the communications agenda 2. Decreasing brand loyalty BUSINESS TO BUSINESS CONTEXT: Customer Engagement in a B2B (business to business) marketing context would typically include a collection of the following marketing programs: 1. Customer Advisory Board or Council 2. Customer Reference Program 3. Executive Sponsor...
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...Employee satisfaction and engagement City College Employee satisfaction and engagement Introduction “The game of basketball has been everything to me. My place of refuge, place I've always gone where I needed comfort and peace. It's been the site of intense pain and the most intense feelings of joy and satisfaction. It's a relationship that has evolved over time, given me the greatest respect and love for the game.” Michael Jordan The most important asset of an organization is not the building, the equipment, the offices around the world, nor the beautiful desk on the presidential office. The most important asset in any organization is the EMPLOYEE base. The employees are tangible assets that organizations need to invest time and money in because without them the organization does not go anywhere. In order to appreciate the most important asset the organization has to meet two important requirements, employee satisfaction and engagement. When I talk about satisfaction I mean the fulfillment of employee’s wishes, expectations, and personal needs. The engagement portion occurs when the employee is fully involved in, and enthusiastic about, his or her work. But how can the organization achieve these important goals? They need to transform the organization from a place of dissatisfaction and disengagement into a place of opportunity whereby the employee feels there is peace, comfort, joy and long-lasting relationships. A leader of an organization...
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...Stakeholder engagement Stakeholder engagement is a process which is close to the heart of all major organisations which have a sound operating philosophy. By engaging with the stakeholders, the CEO’s ensure the long term success of their business or projects. This is by getting the various interested parties to buy into the success of their venture by making them a part of the decision making and also ensuring that their concerns or requirements are met. Even though this may be driven by rules and regulations to a great extend, we are witnessing a more proactive, inclusive and broader approach in recent times. This is usually a cradle to grave approach taking into consideration the whole life span of the project and its continued or total impact on the various parties involved. The positive impact of good stakeholder relationship on reputation and in turn the profitability of the venture is well recognised by the business community. In fact the brand value of a company is directly proportional to its positive rapport with its stakeholders. As in any relationship mutual trust, respect, transparency and understanding, all play a part in maintaining a constructive engagement with the stakeholders. It takes time to build trust and past records become very important for an organisation embarking on a new venture. Organisations have to tailor their engagements to suit their business depending on the size of the project, its nature and impact on the stakeholders and the environment...
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...25% of students in the 43 countries studied reported a low sense of belonging and an average of 20% of students reported low participation. Although there is some discrepancy in numbers due to differences in sampling and measurement, these studies show that overall, more than one in five students is disengaged from school. Student engagement is a multifaceted concept that includes behavioral, emotional, and cognitive components (Fredricks et al., 2004). Behavioral engagement refers to students’ participation in academic and non-academic activities at school. Emotional engagement refers to students’ sense of belonging at school and identification with school. Cognitive engagement includes mental involvement with learning through the exercise of thinking. Research has shown that each component of engagement is significantly related to student outcomes; however, previous studies have for the most part examined only one or two components of student engagement (e.g., Alexander, Entwisle, & Horsey, 1997; Woolley & Bowen, 2007). Therefore, studies that examine all three components of student engagement are needed. Student engagement is more malleable than other status indicators or student traits that have been shown to be related to student outcomes (Finn, 1993; Fredricks et al., 2004) because it is responsive to change in the social environment. Although individual intelligence and family background are significant predictors of student achievement and other...
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...BEHAVIOR TERM PAPER EMPLOYEE ENGAGEMENT Submitted by - Anjali Krishnan Pgdm-a Roll –p14110 INTRODUCTION Employee engagement is basically defined as a participative process that uses the input of employees to increase their commitment to the organization’s success. The basic logic is that by involving workers in decision making that affect them and by increasing their autonomy and control over work lives, employees will become more motivated, more committed, more productive and more satisfied towards to their job. MAJOR FORMS OF EMPLOYEE ENGAGEMENT • PARTICIPATIVE MANAGEMENT: Participative management basically deals with the decision making process as the subordinates share a significant power of decision...
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...There are differences between attitude, behaviour and outcomes in terms of engagement. An employee might feel pride and loyalty (attitude); be a great advocate of their company to clients, or go the extra mile to finish a piece of work (behaviour). Outcomes may include lower accident rates, higher productivity, fewer conflicts, more innovation, lower numbers leaving and reduced sickness rates. But we believe all three – attitudes, behaviours and outcomes – are part of the engagement story. There is a virtuous circle when the pre-conditions of engagement are met when these three aspects of engagement trigger and reinforce one another. Engaged organisations have strong and authentic values, with clear evidence of trust and fairness based on mutual respect, where two way promises and commitments – between employers and staff – are understood, and are fulfilled. Although improved performance and productivity is at the heart of engagement, it cannot be achieved by a mechanistic approach which tries to extract discretionary effort by manipulating employees’ commitment and emotions. Employees see through such attempts very quickly; they lead instead to cynicism and disillusionment. By contrast, engaged employees freely and willingly give discretionary effort, not as an ‘add on’, but as an integral part of their daily activity at work. But is employee engagement something new, or simply old wine (long-standing management approaches) in new (fashionable management-speak) bottles? Is...
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...Game Engagement Theory and Adult Learning Jesika A. Johnson INFT 101 9/9/2013 Throughout the article, authors provide information to debate if the theory of game engagement, when applied to learning, can be an effective tool. There are different types of theories developed to prove whether the application of gaming for learning is useful or not even suitable. To quote Benyon, Turner, and Turner (2005), engagement is described as being concerned with all the qualities of an experience that really pull people in. Now, these experiences are not limited to the world of gaming but to all aspects of a person’s life; embracing challenge and imagination. In using imagination and game engagement, a person can feel “a sense of authenticity, adaptation and immersion to create an experience of flow” (Benyon 2005). Flow is a theory developed to prove that there are elements in engagement that increase how “enjoyable, engaging, and immersive that experience is” (Whitton 2011). While some argue that this theory is effective, there has also been research to discredit the benefits of game engagement to learning. This research proves that game engagement has an impact on a person including difficulty navigating throughout, boredom and frustration; although this isn’t true of all people who attempt game engagement with learning. As the article provides more than enough information to make ones’ own debate, there is clearly more research to be provided in determining whether all learners...
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...Contents 1. Introduction 2 2. Motivations behind CSR 2 2.1 Self-Interest 2 2.2 Ethics 2 3. Arguments for CSR 3 3.1 Innovation 3 3.2 Cost-Saving 3 3.3 Brand Differentiation 3 3.4 Long-Term Thinking 3 3.5 Customer Engagement and Employee Engagement 3 4. Arguments against CSR 3 4.1 Misdirections 4 4.2 Controversial Industries 4 5. Conclusion 4 6. References 4 Is Corporate Social Responsibility a way to cover exorbitant charges? 1. Introduction Various authors have different definitions of what Corporate Social Responsibility. According to Lorde Holmes and Richard Watts, 1998 in their publication ‘Making Good Business Sense,’ they define CSR as “the continuing commitment by businesses to behave ethically and contribute to economic development while improving the quality of life of the workforce, their families, and the community.” Others like Mallen Baker, 2013 define it as “how business manage their business processes to produce an overall positive impact on society.” The underlying concept of CSR is that it's a form of self-regulation by firms to ensure they comply with both legal and ethical standards of a community. 2. Motivations behind CSR To argue for or against whether CSR is a way of covering exorbitant charges or not, we need to look critically at the core motivations behind CSR and other arguments made for or against it. According to Richard E. Wokutch, 1990 in his journal Corporate Social Responsibility Japanese Style, he identifies two key motivations...
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...Employee engagement August 2011 Issue 6 Employee engagement August 2011 APS Human Capital Matters: Employee engagement August 2011, Issue 6 Editor’s note to readers Welcome to the sixth edition of Human Capital Matters—the digest for time poor leaders and practitioners with an interest in human capital and organisational capability. This edition focuses on the concept of employee engagement and its application to the public service workforce. The contribution of employee engagement to organisational performance is central to many of the human capital reform initiatives advocated in Ahead of the Game: Blueprint for the Reform of Australian Government Administration. Importantly, there is an open question on whether the features of employee engagement in the public service differ from that of other organisations. The Australian Public Service Commission is working with other agencies on clarifying not only the key features of APS employee engagement but also what contribution engaged employees make to enhancing organisational capability. The concept of staff engagement has an enormous amount of currency in the business world today; for many the pursuit of ‘engaged’ staff is seen as an end in itself. But there are a broad range of definitions and interpretations of employee engagement in the literature: some are heavy with psychological theory while others link employee views and organisational strategy. However, there are common themes: for example, engagement is seen...
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