...CHAPTER ONE INTRODUCTION 1.0 Background OF THE STUDY Financial accountability is not complete without audit, which remains one of the most neglected and mis-understood areas of financial management. This could be traced to the crudeness of accounting methods used in the early stages of civilization where individuals check account by themselves. It is for this reason that the practice of audit has been accorded its rightful place with a view to imposing some system of check upon person whose business involves to record the receipt and disbursement of money on behalf of others. However, the need for audit mostly government account is precipitated by a number of issues. One of such issue is the size of the public sector, the financing of which have become very burdensome, especially with the fall in public revenue resulting from the change of circumstances of the international oil market. According to Asechemic (1999), the pervasive presence of public sector is due, in part, to the historical national condition of a weak private modern sector in the past colonial Nigerian economy. The economy activity of government arising from this historic condition has made the Nigerian public sector very large. A need to reduce the size of the public expenditure has become clear to many observers. The privatization and commercialization project in the structural adjustment programmers (SAP) is an office response to the call for a reduction of public sector spending. ...
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...BREWERY, PLC IGBAEKEMEN GODDY OSA1 & IDOWU OLUWAFEMI AMOS2 1,2 Department of Sociology, Nigeria Police Academy, Wudil, Kano, Nigeria ABSTRACT The need for this study arose from the acknowledgement of organizational commitment on employee productivity as the most critical in all organizational analyses, and the determinant often found between goals of the organizational all the needs of employee within it, therefore, necessary to empirically study how the impact of organizational commitment on employee are coping with the challenges of employee productivity. The presence of organizational commitment to employees can be used to gain employees support for organization and in turn maximize the benefits it receive from their employee with greater productivity and individual performance seems to increase in the same proportions. Organizational commitment and employee productivity issue are emerging as the most critical work force management challenges of the past, present and immediate future driven by, employee loyalty. Frontline manager, supervisions, a project leader, team captain or human resource manager actually has more power in an organization to reduce poor productivity, because the factors that drive employee satisfaction and commitment are largely within the direct manager’s control, and for this to be achieved successfully there is need to understand the motive as a bases of performance require to motivate employee in order to improve their commitment to...
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...TOTAL QUALITY MANAGEMENT PRACTICE IN SMALL AUDIT FIRMS IN NIGERIA CHAPTER ONE INTRODUCTION 1.1 Background of the study Total quality management (TQM) practices in small audit firms have had accounting antecedence. The concept can be traced back to early 1920 production control idea notably, the concept developed in the late 1940’s and 1950’s, pioneered by American Feigenbaum, Deming and Juran. The concept total quality management (QTM) has many definitions. The gurus of total quality management discipline like Deming, Juran, Crosby, Ishikawa and Feigenbaum defined the concept in different ways, but still the essence and spirit remained the same. According to Deming, quality is a continuous improvement process towards predictable degree of uniformity and dependability. He identified fourteen principles of quality management to improve productivity and performance of an organization. Juran defined quality as “fitness for use”. According to him, every person in an organization must be involved in the effort to make products or services that are fit for use. Crosbly defines quality as conformance to requirement. His focus was on zero defects and doing it right the first time. Ishikawa also emphasized importance of total quality control to improve organizational performance. According to him, quality does not only mean the quality of products but also of after sale services, quality of managing the company itself and the human life. Feigenbaum defined total quality management...
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......................... 12 Preventing another Lehman........................................................................................................... 16 Conclusion ...................................................................................................................................... 19 Reference ....................................................................................................................................... 22 2 Abstract Failure of Lehman Brothers marks an important point of modern economic history. In a matter of eight months a successful and respected financial institution filed for bankruptcy creating a ripple effect across the banking world spread over various political boundaries. This paper examines the genesis of the risk and finds that it was well within the limits of executives and management of Lehman Brother to stop the complete annihilation. It was possible to sustain despite suffering serious damages if Lehman Brothers...
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...Securing Linux Platforms and Applications Project Project Part 1 Task 1: Outline Security Policy This security policy is essential to the First World Bank Savings and Loan. It is used to break up the security plan not measurable, specific, and testable goals and objectives. This security policy would be used to provide all current and prospective customers online banking services while keeping the First World Saing bank competitive in the financial marketplace. This solution is also an imperative due to an estimated revenue of $100,0000,000 flowing in by virtue of online credit card transactions specific to banking and loan application based services. This security policy will go on to outline the specific regulations and legislation that are in agreement with the statutory compliance criteria. Below is a recommended view of the characteristics and components of the recommended security based policy. Taking up the stake of the performance, cost, and security of maintaining the Linux, and open source infrastructure will be within the premise of the defined roles and responsibilities. Annual cost savings are estimated to amount to $4,000,000 (approx) by virtue of implementation of this solution. The ‘C’-‘I’-‘A’ triad will be a crucial requirement fo the First World Savings Bank and translates to Confidentiality, Integrity and Availability respectively. Confidentiality aspect with reference to First World Savings Bank – Confidentiality refers to the principle that states...
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...CHAPTER ONE INTRODUCTION 1.0 PREAMBLE One constant variable that permeates through man’s entire life is uncertainty. Uncertainty and man are inseparable. As man builds organizations and institutions that he utilizes to make his existence easier, uncertainties also creep into these organizations and institutions. All human transactions carry these uncertainty traits. These transactions are many and varied but arise essentially, as stated above, as inherently of man and the institution created by him. One of the ways man has tried to manage and control the damaging effects of uncertainty in his institution especially as it relates to his financial transaction in use of budget. These are many varied definitions of budget, according to Obazele (2000:127)in his book titled Accounting for public sector Activities in Nigeria. Budget is defined as a “statement whish express future plans in financial terms.” It is also defined by Okoye (1979: 301). In his book titled Cost Accounting Management Operational Application, as “plans prepared and approved before The of use. A budget is defined in the institution of cost and management Accounting, 1966 edited of Terminology as a financial and/or quantitative statement prepared and approved prior to a defined period of the policy to be pursued during that period for the purpose of attaining a given objective”. Going by the above definitions of budget by previous authors, it could be deduced that a budget as an element of control in it...
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...Principles of Management Control Systems 20 Fo rI B ICFAI UNIVERSITY S U se O nl y C la s s of 09 Principles of Management Control Systems 20 Fo rI B ICFAI Center for Management Research Road # 3, Banjara Hills, Hyderabad – 500 034 S U se O nl y C la s s of 09 The Institute of Chartered Financial Analysts of India, January 2006. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, used in a spreadsheet, or transmitted in any form or by any means – electronic, mechanical, photocopying or otherwise – without prior permission in writing from Institute of Chartered Financial Analysts of India. Fo ISBN 81-7881-995-3 Ref. No. PMCS/A 01 2K6 31 For any clarification regarding this book, the students may please write to ICFAI giving the above reference number, and page number. While every possible care has been taken in preparing this book, ICFAI welcomes suggestions from students for improvement in future editions. rI B S U se O nl y C la s s of 20 09 Contents PART I: AN OVERVIEW OF MANAGEMENT CONTROL SYSTEMS Chapter 1 Chapter 2 Chapter 3 Chapter 4 Chapter 5 Chapter 6 Chapter 7 Introduction to Management Control Systems Approaches to Management Control Systems Designing Management Control Systems Key Success Variables as Control Indicators Organizing for Adaptive Control Autonomy and Responsibility Transfer Pricing 3 15 28 42 57...
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...Principles of Management Control Systems 20 Fo rI B ICFAI UNIVERSITY S U se O nl y C la s s of 09 Principles of Management Control Systems 20 Fo rI B ICFAI Center for Management Research Road # 3, Banjara Hills, Hyderabad – 500 034 S U se O nl y C la s s of 09 The Institute of Chartered Financial Analysts of India, January 2006. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, used in a spreadsheet, or transmitted in any form or by any means – electronic, mechanical, photocopying or otherwise – without prior permission in writing from Institute of Chartered Financial Analysts of India. Fo ISBN 81-7881-995-3 Ref. No. PMCS/A 01 2K6 31 For any clarification regarding this book, the students may please write to ICFAI giving the above reference number, and page number. While every possible care has been taken in preparing this book, ICFAI welcomes suggestions from students for improvement in future editions. rI B S U se O nl y C la s s of 20 09 Contents PART I: AN OVERVIEW OF MANAGEMENT CONTROL SYSTEMS Chapter 1 Chapter 2 Chapter 3 Chapter 4 Chapter 5 Chapter 6 Chapter 7 Introduction to Management Control Systems Approaches to Management Control Systems Designing Management Control Systems Key Success Variables as Control Indicators Organizing for Adaptive Control Autonomy and Responsibility Transfer Pricing 3 15 28 42 57...
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...Tomlinson \ ■L& 11 * . ; P O W E R E D BY C O B U I L D ■ t; j ju B P H Contents Unit 1 O 2 Topic Grammar focus Holidays and travel Free time Exam Page number Grammar practice Sub-skill Simple tenses Present sim ple, past sim ple and present perfect Speaking Part 1 W riting Task 2 6 Continuous tenses Past continuous, present continuous, present perfect W riting Task 1 Reading 10 continuous 3 Fame Past N arrative tenses: past perfect and used to/would Reading Listening Section 2 14 Education Future 1 Witt and going to Listening Section 1 Speaking Part 3 18 The Internet Future 2 Present continuous fo r future and future perfect Listening Section 2 Reading 22 The family Word order and punctuation Subject + verb + object and punctuation W riting Task 2 Speaking Part 2 26 7 The environment Subject/verb agreem ent S ingular + p lu ra l nouns/verbs and determ iners Reading W riting Task 1 30 8 Food Countable/ uncountable nouns Countable and uncountable nouns Speaking Part 2 Listening Section 1 34 9 Employment and finance A rticles Using a, the or no article W riting Task 1 Reading 38 10 Youth Linking words and signposting Giving additional, opposite, contrasting inform ation Reading Listening Section 4 42 ...
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...• Academy ol Management Executive, 2001. Vol. 15, No. 4 Are you sure you have a strategy? Donald C. Hambrick and James W, Fredrickson Executive Overview After more than 30 years of hard thinking about strategy, consultants and scholars have provided an abundance of /rameworks for analyzing strategic situations. Missing, however, has been any guidance as to v^hat the product of these tools should be—or virhat actually constitutes a strategy. Strategy has become a catchall term used to mean whatever one wants it to mean. Executives now talk about their "service strategy," their "branding strategy," their "acquisition strategy," or whatever kind of strategy that is on their mind at a particular moment. But strategists—whether they are CEOs of established firms, division presidents, or entrepreneurs—must have a strategy, an integrated, overarching concept of how the business will achieve its objectives. If a business must have a single, unified strategy, then it must necessarily have parts. What are those parts? We present a framework for strategy design, arguing that a strategy has five elements, providing answers to five questions—arenas: where will we be active? vehicles: how will we get there? differentiators: how will we win in the marketplace? staging: what will be our speed and sequence of moves? economic logic: how will we obtain our returns? Our article develops and illustrates these domains of choice, particularly emphasizing how essential it is that they form a unified...
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...a) If an archaeologist had excavated Tazumal in the early 1930s, they would have used the Classifactory-Historical paradigm. Going into the site, an archaeologist’s goals would not to just collect objects, but take context into account. The whole site has historical importance and can teach us about the people who inhabited the land. All aspects of the site have to be studied and, following the lead of Alfred Kidder, many different disciplines of study need to come together to gather as much data as possible. Ethnographers, geographers, botanists, meteorologists, and physical anthropologists should be present at the site to collect the whole scope of information that can be gathered. Examining the ceramics at the site would be a great place to start the chronology, and based off the sequence they would probably determine roughly three distinct time frames, which are now the Preclassic, Classic, and Postclassic periods of Mesoamerica. The older pottery...
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...INTERNATIONAL MONETARY FUND AND THE WORLD BANK Managing Public Debt: Formulating Strategies and Strengthening Institutional Capacity Prepared by the Staff of the IMF and World Bank Approved by Christopher Towe, Danny Leipziger, and Kenneth Lay March 3, 2009 Contents Page Acronyms...................................................................................................................................3 I. Introduction ............................................................................................................................5 II. The Financial Crisis: Implications for Debt Managers .........................................................6 III. Work Program Linkages ......................................................................................................7 IV. Medium-Term Debt Management Strategy.........................................................................8 A. Developing the Framework.......................................................................................8 B. The Guidance Note..................................................................................................10 C. The Cost-Risk Analytic Tool ..................................................................................11 D. Preliminary Results from Early Application of the Framework .............................13 V. Debt Management Performance Assessment (DeMPA).....................................................15 A. The DeMPA Framework........
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...monetary system through their close relationship with regulatory authorities & governments the regulation imposed on them by those government. 1.1: Origin of the report For any business school student only curriculum activity is not enough for handling the real business situation, therefore it is an opportunity for the students to know about the field of business through the internship program. As internship program is a perfect blend of the theoretical and practical knowledge. This report is originated to fulfill the requirement of the assign project internship report on “Loan Disbursement and recovery system” has been assigned to me by Human Resource Division (HRD) of NCCBL, Head Office, Dhaka. In this regard, I have worked as an internee in National Credit and Commerce Bank Ltd. (NCCBL), JATRABARI BRNCS from 8th NOV, 2009 to 8th FEB, 2010. During this period I learned how the host organization works with the help of the internal supervisor. On the basis of working experience in this period I have prepared this report and I have tried my level best to relate the theoretical knowledge with the practical work situation 1.2:...
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...interpret the world around us our customers’ needs, the future of technology, and the global business climate. Whatever changes that future may bring, our vision Dell Vision will be our guiding force. Mission Statement Dell’s mission is to be the most successful Computer Company in the world at delivering the best customer experience in markets we serve. In doing so, Dell will meet customer expectations of: Highest quality Leading technology Competitive pricing Individual and company accountability Best-in-class service and support Flexible customization capability Superior corporate citizenship Financial stability Organizational Structure Michael Dell is the chairman of the board of directors of Dell Inc. He has held this position since he founded the company in 1984, In July 2004, Kevin Rollins assumed the titles of president and chief executive officer. Kevin Rollins has been with Dell since accepting the position of senior vice president, corporate strategy, in 1996. Headquartered in Round Rock, Texas, Dell Inc. is managed on a geographic basis. The three geographic segments are the Americas, Europe, and Asia-Pacific. Dell Inc. maintains more than 7 million square feet of office, research, manufacturing, and distribution space in the United States. In addition, a new half-million square-feet manufacturing facility is under construction inNorth Carolina and is expected to begin operations in late 2006. Dell’s sales in America are reported in two different...
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...Leslie Studdard Contributing Author: Tim Dexter, Klaus Fabian, Hiro Inami, Edward Jiang, Incheol Kang, Kazuko Kawahara, Kei Saito, Elise Tung-Loo, Jackie Yeung The Programs (which include both the software and documentation) contain proprietary information; they are provided under a license agreement containing restrictions on use and disclosure and are also protected by copyright, patent, and other intellectual and industrial property laws. Reverse engineering, disassembly, or decompilation of the Programs, except to the extent required to obtain interoperability with other independently created software or as specified by law, is prohibited. The information contained in this document is subject to change without notice. If you find any problems in the documentation, please report them to us in writing. This document is not warranted to be error-free. Except as may be expressly permitted in your license agreement for these Programs, no part of these Programs may be reproduced or transmitted in any form or by any means, electronic or mechanical, for any purpose. If the Programs are delivered to the United States Government or anyone licensing or using the Programs on behalf of the United States Government, the following notice is applicable: U.S. GOVERNMENT RIGHTS Programs, software, databases, and related documentation and technical data delivered to U.S. Government customers are "commercial computer software" or "commercial technical data" pursuant to the applicable Federal Acquisition...
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