...“Struggle for control” Hemingway’s Margot and Faulkner’s Emily can both be contrasted for their motives of killing the men they once loved. In comparison, Margot and Emily were both similarly strong-willed characters in their own way. These two characters were not satisfied with the relationship they had with their husbands (Emily was not married). The unsatisfactory relationships they had ultimately led to the deaths of their partners. Margot and Emily desired the feeling of control, whether it is to have the power to control or the feeling of being controlled. Margot and Emily both needed to have a sense of control. Margot wanted to have the power in order to dominate her relationship with her husband. On the other hand, Emily was accustomed to the constant manipulation of her father. Each character had opposing motives and situations for killing their companion. Margo t’s reason for killing her husband Francis was the fact that he would soon gain control of their relationship. She did not want to lose dominance and control of their relationship. In the beginning of “The Short Happy Life of Francis Macomber,” Margot was in charge and did whatever she pleased. For instance, she openly slept with other men and managed to blame it on her husband’s weakness. Once Margot felt that she was about to lose control, she decided to kill Francis so that she would not look vulnerable. In contrast, Emily’s motive for killing Homer was to meet her personal need for her ideal...
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...managers a clear vision of targets to achieve in a year. (Montana and Charnov, 2000) Today Budgets are used by almost all companies as its use allows the managers to establish the objectives of the business in quantitative terms which is usually for a year. Budgetary control is a system of management control in which actual income and spending are compared with planned income and spending, so that you can see if plans are being followed and if those plans need to be changed in order to make a profit. (Financial Times) The major aim of any organization is to create wealth for their shareholders for that they need to make plans and the major plan for it is budgets. Budgets are also heavily linked to the strategy as budgets plan the future of an organization they must be implemented in the strategy of the organization. “A strategy can be viewed as describing how an organization matches its own capabilities and opportunity in the market place to accomplish its overall objectives.”(Bhimani 2012) The budget of an organization shows its financial capabilities and it must be prepared according to the long term strategy of the organization. This essay will hence examine the advantages and limitations of budgetary control and its effect on performance management. Organisations in the modern day comprise of many different departments that must have proper coordination and communication in order to achieve growth and profits. A budget is a mere translation of a company's strategic objectives...
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...Control- Defined as any process that directs the activities of individuals toward the achievement of organizational goals. Utilizing control effectively is how managers can make sure that activities are going as planned. Control is a means or mechanism for regulating the behavior of organization members. Left on their own, people may act in ways that they perceive to be beneficial for their selves or the organization they work for but that action may actually harm the organization as a whole. In some cases it’s just plain ignorance, individuals just don’t realize the overall costs of their actions. Thus, control is one of the fundamental forces that keep the organization together and heading in the right direction. Purpose- To ensure that activities are completed in ways that lead to accomplishment of organizational goals. * It can provide organizations with indications on how well they are performing * It allows an organization to adjust performance in order to keep moving in the right direction. Set performance standards Every organization has goals: profitability, innovation, satisfaction of customers and employees, and so on. A standard is the level of expected performance for a given goal. So set standards for any and all activities —financial activities, operating activities, legal compliance, charitable contributions, and so on. Measure performance It’s an ongoing process. Performance measures should be valid indicators (e.g. days absent...
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...Per request of the President of LJB Company HS Accounting Firm has reviewed the company’s existing internal control mechanisms and provided answers to the president’s questions. This report advises the President on new internal control requirements, what the company is doing well, and identify what they are doing wrong. Additionally, review the proposed purchase of an indelible ink machine by the company. Internal Controls is so critical that the U.S. Congress has passed a law, The Sarbanes-Oxley Act, to require public companies or those going public, to maintain a system of internal controls and to require that their auditors examine those controls and issue audit reports as to their reliability (Harrison, 2013). Internal control is important because it prevents fraud or unintentional errors by accomplishing the following five objectives; safe guarding assets, encouraging employees to follow company rules, promoting operational efficiency, ensuring accurate and reliable accounting and complying with legal requirements. We at HS Accounting LLC have provided the following answers to the president’s questions. B. If your company decides to go public here are the New Internal Control requirements as mentioned in chapter 4, page 236. 1. Public companies must issue an internal control report; we must evaluate and report on the soundness of the company’s internal control. 2. The Public Company Accounting Oversight Board to oversee our audit reports. 3. We cannot be both...
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...Internal control plays a very important role in preventing and detecting fraud, also helps to protect the company’s resources and helps to achieve specific goals or objectives. The company, using internal control in compliance with Sarbanes-Oxley Act and regulations, looks more trustful and stable for investors. Internal control has five elements the company should consider before going public and everyone in the company has responsibility for internal control to some extend. The top managers of the organization set a “tone at the top” by making “clear that the company values integrity and that unethical activity will not be tolerated”1. The top managers review the way the personnel controls the business and how they establish policies and procedures. The top managers also have responsibility “to identify and analyze the various factors that create risk for the business and must determine how to manage these risks” . The risk management includes external and internal risks, analyzes the environment the company works in and predicts any factors that can influence business activities and profitability. It also includes right attitude, competence and monitoring of the risks to achieve stability and timely decisions. The main component of internal control is controlling activities. It helps to complete the internal control with a good communication and information system and periodical monitoring. In general control of activities includes: segregation of duties, establishment...
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...internal control a. What is internal control? Internal control is a process, effected by an entity’s board of directors, management and other personnel, designated to provide reasonable assurance regarding the achievement of objectives in the following three categories: * Reliability of financial reporting * Effectiveness and efficiencies of operations * Compliance with applicable laws and regulations Internal control is design to achieve management objectives in three categories. In financial reporting category, the management objectives are related to producing reliable financial reports and safeguarding assets. In the operations category, same examples of management objectives are maintaining a good business reputation, ensuring a positive return an investment, increasing market share, promoting new products innovation, and using assets effectively and efficiently. In the compliance category, the board of management objective is compliance with the regulation and law that affect the entity. The definition of internal control identifies several important concepts. Internal control provides reasonable assurance, not absolute assurance, that management objectives will be achieved. Because people operate the controls, breakdowns can occur. Internal control can help prevent and detect many errors, but it cannot guarantee that will never happen. Several limitation of internal control system prevents management from obtaining complete assurance that controls are absolutely...
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...Software Requirements Specification FOR AUTOMATIC RAILWAY GATE CONTROL SYSTEM PREPARED BY: SHIKHAR MALIK (13BCE0494) EMAIL: shikhar.malik2013@vit.ac.in SUBMITTED TO: PROF. AKILA VICTOR SOFTWARE ENGINEERING LAB (L5+L6) SCHOOL OF COMPUTER SCIENCE AND ENGINEERING Table of contents 1. Introduction 1.1 Abstract……………………………………………………………………………………………………………………………..3 1.2 Purpose……………………………………………………………………………………………………………………………..4 1.3 Scope………………………………………………………………………….……………………………………………………..5 1.4 Overview ……………………………………………………………………………………………………………………….... 7 2. Overall Description 2.1 Process Model……………………………………………………………………………………………………………………8 2.2 Work Break-down Structure……………………………………………………………………………………………….9 2.3 Data flow Diagram……………………………………………………………………………………………………………. 10 2.4 Tentative Schedule…………………………………………………………………………………………………………….11 2.5 Use-Case Model ………………………………………………………………………………………………………………..12 3. Specific Requirement 3.1 Functional Requirements……………………………………………………………………………………………….....14 3.2 Non-Functional Requirements……………………………………………………………………………………………14 ...
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...CONTROL TECHNIQUES 1. INTRODUCTION The assignment requires critically analyzing one of the key aspects of managerial organization and making suggestions to improve the current status of the selected organization. Out of the four areas I chose control techniques for this assignment. Management controls have always existed, in order to control the behavior of employees with the purpose of ensuring that organisational objectives are achieved. Many of these controls were accounting controls, such as budgets, standard costs, variance analysis etc. As organisations became more sophisticated, non financial controls were added. These controls included targets such as quality, waste, delivery lead-time, customer satisfaction etc. When other controls, such as those in respect of personnel, information systems, corporate policies, working practices etc. are added, the result is a system of management control, although often the components of the system lead to different behaviors. In his seminal work on the subject, Anthony (1965) defined management control as: “The process by which managers assume that resources are obtained and used effectively and efficiently in the accomplishment of the organisation’s objectives” His classic categorization of control was of three levels; strategic, management and operational which he saw as linked. In his work, management control was seen as the interface between strategic planning and operational control such that management control...
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...17, 2015 SEC578 Keller Grad School Of Mgmt How do Administrative Controls demonstrate “due care”? To better answer this question lets define “Administrative Controls” and “Due Care.” Administrative Controls can be the defined as direction or exercise of authority over subordinate or other organizations in respect to administration and support, including control of resources and equipment, personnel management, unit logistics, individual and unit training, readiness, mobilization, demobilization, discipline, and other matters, while Due Care is the degree of care that a person of ordinary prudence and reason (a reasonable man) would exercise under given circumstances. With this understanding we can see that Administrative Controls establish the ground work for an employee to understand and be able to do their job in accordance to the company’s policies and procedures. Administrative controls consist of approved written policies, procedures, standards and guidelines. Administrative controls form the basis for the selection and implementation of logical and physical controls. Logical and physical controls are manifestations of administrative controls. Some industry sectors have policies, procedures, standards and guidelines that must be followed – the Payment Card Industry (PCI) Data Security Standard required by Visa and Master Card is such an example. Other examples of administrative controls include the corporate security policy of Gramm-Leach-Bailey (GLB), which...
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...Internal Control FAQ What is Internal Control? Internal control is the integration of the activities, plans, attitudes, policies, and efforts of the employees of a department working together to provide reasonable assurance that the department will achieve its mission. More simply, internal control is what a department does to see that the things they want to happen willhappen…and the things they don’t want to happen won’t happen. Why are internal controls important? The overall purpose of internal control is to help a department achieve its mission and accomplish certain goals and objectives. An effective internal control system helps a department to: * Promote orderly, economical, efficient and effective operations. * Produce quality products and services consistent with the department’s mission. * Safeguard resources against loss due to waste, abuse, mismanagement, errors and fraud. * Promote adherence to statutes, regulations, bulletins and procedures. * Develop and maintain reliable financial and management data, and accurately report that data in a timely manner. What are the components of an internal control system? The Committee of Sponsoring Organizations (COSO) internal control framework identifies five inter-related components: Control Environment: The control environment, sometimes referred to as “tone at the top”, is the foundation for all other components of internal control. The control environment is influenced by management’s...
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...INTERNAL CONTROLS RUTASHA BRABHAM 1XACC/280 AUGUST 7, 2011 Internal controls are beneficial to a company’s structure and organizational design. Internal controls consists of all the measures taken by the organization for the purpose of; (1) protecting its resources against waste, fraud, and inefficiency; (2) ensuring accuracy and reliability in accounting and operating data; (3) securing compliance with the policies of the organization; and (4) evaluating the level of performance in all organizational units of the organization (internal controls are simply good business practices (Internal Audits, n.d.). There are five components of internal controls. Control environment, risk assessment, control activities, information and communication, and monitoring are the five components of internal controls. The control environment is connected to the outline of the company. The control environment involves the integrity, ethical values, the company’s philosophy, and the competence of the entity’s people (US Regents, 2011). The control environment provides the structure for a company’s policies and values for their day to day activities. Control environment factors include integrity and ethical values, the commitment to competence, leadership philosophy and operating style, the way management assigns authority and responsibility, and organizes and develops its people, and policies and procedures (US Regents, 2011). Risk assessment is a step in a risk management procedure...
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...WORLD ARGUMENTS FOR AND AGAINST BIRTH CONTROL Argument 1 for Birth Control: Birth control paves the way for responsible family planning. In today’s hard times, it is but a couple’s due diligence to properly plan for family life. Planned pregnancies ensure that both the soon-to-be father and mother are ready for the daunting task of taking care of a child. Planning for a family entails not just financial investment but emotional investment as well. Until the couple is ready to face the realities and hardships of parenthood, birth control must be practiced. It may be accomplished via 100% abstinence from sex or thru other medically acceptable means. Birth control helps any couple to engage in sexual relations while controlling the timing of when they would start a family together. Argument 2 for Birth Control: Birth control saves lives and reduces abortion. The conscious decision of birth control and the access to various methods have proven effective in the prevention of unwanted pregnancies. There is an extremely large possibility that unwanted pregnancies lead to abortion, especially for countries that are non-Catholic. It is also a fact that during childbirth, there is a high risk of death as well. If birth control is practiced, you prevent unwanted and untimely pregnancy and you do not only save the unborn child but the mother as well. Argument 3 for Birth Control: Birth control prevents destitution or utter poverty. Providing quality of life to one’s...
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...general and application controls in a computerized information system. | 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13 | 52, 53, 54, 55, 57, 58, 59, 60, 61, 62, 66 | 2. Explain the difference between auditing around the computer and auditing through the computer. | 14, 15, 16 | 51, 65 | 3. List several techniques auditors can use to perform tests of controls in a computerized information system. | 17, 18, 19, 20, 21 | 64 | 4. Describe the characteristics and control issues associated with end-user and other computing environments. | 22, 23, 24, 25 | 63 | 5. Define and describe computer fraud and the controls that an entity can use to prevent it. | 26, 27, 28, 29, 30 | 56 | SOLUTIONS FOR REVIEW CHECKPOINTS H.1 Given its extensive use, auditors must consider clients’ computerized information systems technology. All auditors should have sufficient familiarity with computers, computerized information systems, and computer controls to be able to complete the audit of simple systems and to work with information system auditors. More importantly, auditors must assess the control risk (and the risk of material misstatement) regardless of the technology used for preparing the financial statements. In a computerized processing environment, auditors must study and test information technology general and application controls. H.2 COBIT (which stands for Control Objectives for Information...
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...need to set a system of internal controls and to clearly outline the risks that are inherent in these systems. To begin, internal control systems are the various methods and measures designed to safeguard assets, to check the accuracy and reliability of accounting data, to promote operational efficiency, and to encourage adherence to prescribed managerial policies. First, there we will identify the risks and internal control points by incorporating these risks into the flowcharts provided in the information systems. The risks for the payroll system are bad inputs that would lead to deficient or distorted payroll amounts (requiring input controls), improper access of the files by the wrong people (personnel controls & access controls), and loss of these critical records (backup systems for this data). The risks inherent in the AR system are in making sure the inputs to the system are reliable. There are risks in the inputs to the system, to make sure the system processes the transactions correctly and completely, and the calculations are sound and the outputs of the system are correct. Furthermore, there are risks in the controls within the database to make sure the data is stored correctly and that the proper inventory is accessed in a manner that will preserve true transaction nature of the business in the data (concurrency controls). Furthermore, there should be controls on who accesses the data at the appropriate time (personnel controls), there should be a solid log...
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...Internal controls are functional procedures to safeguard all parts of a business, especially playing a key role in the accounting system. The quality and functionality of a business can determine if a business will succeed or fail. The typical business has many internal control standards that work for the type of company they have. Having these internal controls is not enough to help a business; the law requires companies to monitor these controls to make sure they are being followed correctly. Internal controls have the ability to make or break the goals a company may have while at the same time keeping the compliance of their staff efficient. In 2002 the Sarbanes-Oxley Act, or also known as SOX was passed after scandals became public about numerous corporations. The Sarbanes-Oxley Act was created in 2002 in order to introduce changes to the financial practice and corporate governance regulations. The main point of this act was to ensure that companies would pay attention to the internal controls. The responsibility is on the corporate executives to ensure the reliability of the internal controls that have been put in place for financial reporting. This law has made all companies and their executives liable for any inaccuracies made in the company’s financial reporting due to lack of internal controls. When a company has internal controls in place, it shows the company is responsible and that they care about the financial reporting for their company. If a company were to...
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