...common type of business structure to start. It is business that does not have a difference from the owner and the business. Responsible for all your business’s debts, losses and liabilities can even come after personal property. • LIABILITY: Owner has unlimited liabilities because there is no difference between the owner and the business. • INCOME TAXES: The taxes are taxed just like any other form of income. • LONGEVITY/CONTINUITY: There is no partnership and when owner dies the business die since they are one in the same. However the assets can be sold. • CONTROL: The owner makes all decisions, there is no partnership therefore no one else to have input. • PROFIT RETENTION: The owner is free to do as they please with all profits. No rules or restrictions. • CONVENIENCE/BURDEN: This is the most convenient business to set up. The only cost is the actual products needed to run the business. Licenses or marketing supplies or tools needed. • LOCATION: They are no rules only to follow the laws according the state/area you are operating out of. Licenses or taxes follow the state laws. GENERAL PARTNERSHIP: General partnership is when people join together on a business and share all unlimited liabilities. Partnership can be done verbally or in a special agreement written out as an article of partnership, which can lay out all the details of the partnership. Like sole proprietor there is no difference between the partners and the business. They are legally...
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...Strategic Plan Nicholas Harvey MGT/498 June 8, 2014 Erick Aguilar Strategic Plan At Riordan cohesiveness is the word that we want to best describe our internal culture as well as how we formulate and implement our business strategy. Although the company is departmentalized, ultimately we are one team with one mission and that is to put out the best quality product while using the most cost effective methods possible. Although there will always be unforeseen occurrences in business we believe that it is vital to create a culture in which our employees, from the corner office to the bottom floor understand the importance of continuity and team work. If we are going to achieve a desired outcome we must first have the right personnel in place, who have a clear, concise understanding of the objectives of our company and are motivated to excel their individual areas of responsibility. In order for operations to run smoothly and achieve maximum effectiveness communication is a staple for the Riordan Corporation. It is impossible for business operations to run smoothly without effective communication. At Riordan we will use both verbal and written communication to ensure that any information passed up or down is properly received and understood. Verbal communication reinforced with emails and memos are great for passing on information. Any written communication should thoroughly express the objectives hat are being passed on. It is also equally important to receive confirmation...
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...enhanced, stored, or transmitted. The classification of the data should then determine the extent to which the data needs to be controlled / secured and is also indicative of its value in terms of Business Assets. The classification of data and documents is essential if you are to differentiate between that which is a little (if any) value, and that which is highly sensitive and confidential. When data is stored, whether received, created or amended, it should always be classified into an appropriate sensitivity level. For many organizations, a simple 5 scale grade will be sufficient as follows: Document / Data Classification | Description | Top Secret | Highly sensitive internal documents e.g. pending mergers or acquisitions; investment strategies; plans or designs; that could seriously damage the organization if such information were lost or made public. Information classified as Top Secret has very restricted distribution and must be protected at all times. Security at this level is the highest possible. | Highly Confidential | Information that, if made public or even shared around the organization, could seriously impede the organization’s operations and is considered critical to its ongoing operations. Information would include accounting information, business plans, sensitive customer information of banks, solicitors and accountants etc., patient's medical records and similar highly sensitive data. Such information should not be copied or removed from the organization’s...
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...1. Analyze the Quick Finance Company Network Diagram and describe the assumptions you will need to make in order to identify vulnerabilities and recommend mitigation techniques as there is no further information from this company. The company does not wish to release any security related information per company policy. Vulnerability is the intersection of three elements: a system susceptibility or flaw, attacker access to the flaw, and attacker capability to exploit the flaw (U.S. Airforce) therefore my assumptions on the network diagram shows that there are vulnerabilities that may exist as a weakness in the automated systems, security procedures, administrative controls, and /or internet controls of the finance company there could also exist hardware vulnerabilities that could lead to unprotected storage of hardware the solution is to store all hardware at the recommended temperature, software vulnerability can occur with insufficient testing and a lack of audit trail solution will be to test and secure all software used and update software as appropriate, audit trails enable security relevant chronological records of activities that occur in the software. There could be network vulnerability with unsecure network architecture and unprotected communication lines the solution will be to install and configure network security equipment to curb these issues. Personnel can be compromised and may be used to create problems either directly or indirectly on the system a solution...
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...premises. Cameras and software are being used to monitor and record all type of activities. Building Management System: DBBL’s Building Management System is managing the building site with and collects, organizes and distributes in real-time critical alerts, surveillance video and key information and provides a unified view of complex physical infrastructure environments from anywhere on the network. It covers company-wide multi-vendor physical infrastructure: racks, power, cooling, security, and environment. It can also detect water inside the datacenter and generates alarm. Disaster Recovery and Business Continuity Plan: The continuity of the business and services are vital for both the customers andemployees. It is acknowledged that disaster can happen. Keeping this in mind, our overall goals are to: * Reduce the impact of any kind of disaster by having a contingency plan. * Be prepared to face and handle any imaginable and un-imaginable disasters. * Minimize the adverse effects of imaginable disasters by taking preventive measures. * Avoid chaos by creating awareness among key employees so...
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...PA2 EXAMINATION BLUEPRINT 2011/2012 Effective Date: December 2011 This document is the property of: CGA-Canada 100-4200 North Fraser Way Burnaby, British Columbia Canada V5J 5K7 Phone: 604 669-3555 Fax: 604 689-5845 www.cga.org/canada Updated: April 18, 2011 CGA-Canada PA2 Examination Blueprint 2011/2012 Table of Contents About the Examination Blueprint ......................................................................................................................... 2 PA2 Examination ................................................................................................................................................... 2 PA2 Course ........................................................................................................................................................ 2 Prerequisite Courses for the PA2 Examination .................................................................................................. 3 Competency Weightings ....................................................................................................................................... 3 Structure of the Examination ................................................................................................................................ 5 Examination Competency Coverage ..................................................................................................................... 6 Scoring Model and Evaluation of Candidate Performance .......
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...was completed. The following memo pertains to the suggested journal entries and notes to the financial statements to address the concerns under IFRS. Loss during the year MML’s loss during the year is a one-time event and not considered an ordinary course of business. However, not enough information was provided to determine whether the loss was dependent on the decisions of the owners. Under the assumption that the loss was not a result of management actions, this loss would be classified as an extraordinary item (SOURCE - 387). As per IFRS, extraordinary items are no longer reported thus entries and notes to the financial statements are not required. The acquisition of MML necessitates John to consider whether the business will continue to operate in the foreseeable future. Since the loss has caused a reduction in the current year’s operating profitability, it is essential to consider the “going concern” assumption (SOURCE- chapter 2 387). MML will need to provide a disclosure of any material uncertainties with regards to the continuity of the company, which will provide financial statement users with more relevant and faithful representation of information (SOURCE - Chapter 2). “MML experienced a $500,000 reduction of operating profitability from a non-recurring transaction. It is predicted that MML will return to profitability within the next 12 months, reducing the potential risks that can impact the future viability of business operations.” New Lease Agreement ...
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...I have prepared the following Enterprise Risk Management (ERM) plan for your review. This plan was developed for use in Riordan Industries, Inc., Riordan Manufacturing, and all other Riordan ventures, subsidiaries, and partnerships. Unless otherwise noted, the term “Riordan” will refer to any or all of these entities. I have used the Committee of Sponsoring Organizations of the Treadway Commission (COSO) framework as a guide for recommendations regarding internal controls and corporate governance. The goal of this document is to provide a broad enterprise level framework that unifies the various parts of Riordan, to create an integrated whole. In doing so, the ERM mitigates the legal liability of the officers and directors of Riordan. Alternative Dispute Resolution It is reasonable to assume that in the course of business, Riordan will encounter conflict with a customer, a vendor, an employee, or some other person or organization. Riordan Manufacturing currently retains an independent law firm to handle all legal matters. Aside from the practice of keeping an attorney on retainer, Riordan appears to have no particular dispute resolution process in place. If a conflict escalates to the point that legal action is taken, it is most likely in Riordan’s best interests to settle disputes through the process of mediation. Mediation is preferable to other methods of dispute resolution for several reasons: Riordan avoids the risk of a potentially hostile venue or jury...
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...PA1 EXAMINATION BLUEPRINT 2014/2015 Effective Date: December 2014 This document is the property of: CGA-Canada 100-4200 North Fraser Way Burnaby, British Columbia Canada V5J 5K7 Phone: 604 669-3555 Fax: 604 689-5845 www.cga.org/canada Updated: January 21, 2014 CGA-Canada PA1 Examination Blueprint 2014/2015 Table of Contents About the Examination Blueprint ......................................................................................................................... 2 PA1 Examination ................................................................................................................................................... 2 PA1 Course ........................................................................................................................................................ 2 Prerequisite Courses for the PA1 Examination .................................................................................................. 3 Competency Weightings ....................................................................................................................................... 3 Structure of the Examination ................................................................................................................................ 5 Examination Competency Coverage ..................................................................................................................... 6 Scoring Model and Evaluation of Candidate...
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...Corporate Compliance Plan for Riordan Manufacturing University of Phoenix Riordan Manufacturing is a profitable plastics manufacturer with annual earnings of $46 million. The company is wholly owned by Riordan Industries, a Fortune 1000 company with revenues over $1 billion. The following are some of the products produced by Riordan Industries: plastic bottles, fans, heart valves, medial stents, and custom plastic parts (Virtual Organization, 2009). This compliance plan will state the company's legal responsibilities and regulations necessary to continue earning a profit. The plan will address the laws affecting the plastic industry and guidelines to ensure management and employees understand and obey the laws. The focus of the compliance plan will be on managing the legal liabilities of Riordan officers and directors. Riordan Manufacturing was started and founded by Dr. Riordan, a professor of chemistry. The company focused on research and development of plastic substrates. In 1992 the company purchased a fan manufacturing plant in Pontiac, Michigan. In the year 2000, the fan operation was moved to China. The corporate headquarters that include research and development is located in San Jose, California. Plastic beverage containers are produced in Albany, Georgia and custom plastic parts are produced in Pontiac, Michigan (Virtual Organization, 2009). The compliance plan will include an Alternative Dispute Resolution (ADR) to resolve a dispute, product liability to address...
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...Technology (COBIT) is to provide management and business process owners with an information technology (IT) governance model that helps in delivering value from IT and understanding and managing the risks associated with IT. COBIT helps bridge the gaps amongst business requirements, control needs and technical issues. It is a control model to meet the needs of IT governance and ensure the integrity of information and information systems. 5. Explain the major objective of the Control area (COBIT 4.1 Controls Collaboration link on the left side of the COBIT website) * “The COBIT Controls area within ISACA's Knowledge Center promotes collaboration and sharing of information, solutions and experience among COBIT users.” 6. From the COBIT Domains and Control Objectives section, list each of the types of control objectives and briefly describe them based on the descriptions on the website. * Plan and Organize – “This domain covers strategy and tactics, and concerns the identification of the way IT can best contribute to the achievement of the business objectives. The realization of the strategic vision needs to be planned, communicated and managed for different perspectives. A proper organization as well as technological infrastructure should be put in place.” * Acquire and Implement – “To realize the IT strategy, IT solutions need to be identified, developed or acquired, as well as implemented and integrated into the business process. In addition, changes in and maintenance...
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...company culture changed under new leadership. In ‘Nine Reasons Organizations Need to Change’, Robert W. Swaim explains, “Mergers and acquisitions create change in a number of areas often negatively impacting employees when two organizations are merged and employees in duel functions are made redundant. Entities can attempt to change their culture, including management and leadership styles, values and beliefs. Of all the things organizations can change, this is by far the most difficult to undertake.” When Comcast unveiled its new management structure for NBC Universal, the new setup was designed to ensure continuity in the film and cable networks businesses, while bringing key changes at the NBC network. Comcast COO Steve Burke, who would serve as CEO of NBC Universal, announced details of the new setup and reporting lines in an email memo. His explained that plans for a flatter structure would give him more direct oversight of the company's cable and broadcast TV networks. Burke planned on bringing in new talent...
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...network and all its components in GDI. The staff will consist of 11 personnel who will assist in this endeavor. Policy Directives Information Security Policy Policy Information security is the protection of information from threats in order to ensure business continuity, minimize business risks, and maximize business opportunities. GDI information security program is managed by the Computer Security Manager (CSM). The CSM ensures that an acceptable level of information security is achieved. Information Security is not the purview of any one functional group and requires the cooperation of all. Members of the workforce are responsible for the information and assets that they receive, store, utilize and transmit. (Louis, 2014) Security Management Guidelines Guideline The CSM will provide the following services to GDI 1. Will be the computer security manager for GDI 2. The create, maintain, review and communicate information security policies, guidelines and procedures 3. Review, document, approve and track exceptions to those policies, guidelines and procedures 4. Track and communicate any legal and regulatory legislation which will affect GDI 5. Work with business and customer units to develop Continuity plans for GDI 6. Monitor compliance efforts 7. Develop...
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...the event of unauthorized software being discovered it will be removed from the workstation immediately. 1.4. Data may only be transferred for the purposes determined in the corporate data- protection policy. 1.5. All disk drives and removable media from external sources must be virus checked before they are used within the corporation. 1.6. Passwords must consist of a mixture of at least 8 alphanumeric characters, and must be changed every 60 days and must be unique. 1.7. The physical security of computer equipment will conform to recognized loss prevention guidelines. 1.8. To prevent loss of availability of I.T. resources measures must be taken to backup data, applications and the configurations of all workstations. 1.9. A business...
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...PAYROLL SYSTEM 10 5.2 PAYROLL PROCESSES AND PROCEDURES 13 5.3 TIME REPORTING SYSTEM 15 5.4 PAYROLL AND HR INFORMATION SHARING 17 6 OTHER ISSUES 20 6.1 PROJECT MANAGEMENT 20 6.2 CHANGE MANAGEMENT & COMMUNICATION 20 6.3 SPECIAL REPORT REQUESTS FROM OTHER DEPARTMENTS 21 6.4 PRIVACY ISSUES ARISING FROM THE NEW SOFTWARE SYSTEM 21 6.5 PAYROLL-RELATED CONCERNS AS COMPANY EXPANDS 22 7 PAYROLL’S ROLE IN THE ORGANIZATION 22 8 ACTION PLAN AND TIMELINE 23 8.1 IMPORTANT DEADLINES 23 8.2 TIMELINE 23 8.3 POTENTIAL ACCOMPLISHMENTS/MILESTONES 24 9 CONCLUSION 25 10 REFERENCES 26 11 APPENDIX 28 1 Introduction NutriGrow is a Canadian owned and operated agricultural supplies manufacturer, operating in the province of Manitoba. The organization has been in business for 60 years, with relatively slow growth until the recent introduction of a new product that was marketed to large agri-businesses with great success. The strategic decision to market this product internationally means that NutriGrow will experience an unprecedented increase in their business activity over the next decade. In anticipation of this increase, management has given the payroll department at NutriGrow the tasks of implementing payroll best practices to become more efficient, re-organize the payroll department into a...
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