...is to provide assurance that an assertion corresponds with some established criteria. An audit involves gathering and evaluating evidence to support the assertions and preparing a communication indicating the work done by the auditor and his or her opinion regarding the degree of correspondence between the assertions and established criteria. two primary types of audits are financial audits and compliance audits. In a financial audit, the management of a business asserts that the financial statements are prepared in accordance with generally accepted accounting principles (GAAP), which are the applicable criteria. The financial statement auditor attests to the degree of correspondence between those financial statements and GAAP The objective of a financial audit is to determine whether the financial statements are prepared in accordance with generally accepted accounting principles (GAAP). The management of an organization is responsible for preparing the financial statements. The auditor is responsible for rendering an opinion on the fairness of those financial statements based on his or her audit. When preparing the financial statements, management must follow GAAP, which are the principles and practices that govern financial re porting. Internal auditors are employees of the organization whose activities are being examined and evaluated during an independent audit. The primary purposes of internal auditing are to review and assess a company's policies, procedures, and...
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...To: Zachary Evans, Vice President of Operations From: Joseph Mirola, Claims Manager Subject: Company Fitness Center Makes Us Money _______ Through research and analysis, it has been discovered that the Rocky Mountain Mutual Company Fitness Center is a financial asset to the company. By reviewing company records you will see that the Fitness Center decreases employee absenteeism, increases employee productivity and reduces medical cost to the company. I believe that with some key leader support and proper attention our Fitness Center could become Rocky Mountain Mutual’s biggest asset. When it comes to absenteeism, our employees of Rocky Mountain Mutual who use the center miss almost half as many days of work as those who don't. They missed an average of six days of work per year as compared to those who do not use it with a staggering twelve days of work per year. As you can see, the statistics show that the Fitness Center is a major contributing factor of the health of our employees. With having said that these numbers in turn have shown to reduce the medical cost to our company. The research that was done shows that the employees fall into three different medical categories. These categories are those ranging from frequent users of the center, going three or more times per week, accounts for 10% of all Rocky Mountain Mutual employees, those considered average users go once or twice per week,accounting for 25% of all employees and the last category of non-users , the...
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...data protection services.Marketing is an administration process whereby the assets of the entire association are used to fulfill the needs of chose client assembles with a specific end goal to accomplish the targets of both sides. Showcasing, then is the above all else a demeanor of brain instead of a progression of capacity. Customer being the vital part of a business, organizations gives them a lot of importance. Business organizations studies the customer’s habits, preferences, taste, choice etc, to deliver them full satisfaction (Grönroos, 1989). Importance of customer portfolio analysis Evernet respects the value of customer portfolio analysis and manages the customer portfolio of the organization in an effective way. Evernet believes that the real growth of the organization depends on its customers. The customer value idea will be impacted by the organizational execution and decides the structure of competitive advantage towards defining choice limits of the purchasers (Reinartz, & Kumar, 2003). The procedure of conveying client worth is grown inside of a microeconomic system of the business associations. The business associations assume a discriminating part in helping the existing clients and prospective clients in understanding the quality connected with their purchasing choices (Turnbull, 1990)....
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...economics. | | | | |2. |In the audit of historical financial statements, which of the following accounting bases is the most common? | |easy | | |c |a. Regulatory accounting principles. | | |b. Cash basis of accounting. | | |c. Generally accepted accounting principles. | | |d. Liquidation basis of accounting....
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...Chapter 1 Multiple-Choice Questions 1. easy Recording, classifying, and summarizing economic events in a logical manner for the purpose of providing financial information for decision making is commonly called: c a. finance. b. auditing. c. accounting. d. economics. 2. easy In the audit of historical financial statements, which of the following accounting bases is the most common? c a. Regulatory accounting principles. b. Cash basis of accounting. c. Generally accepted accounting principles. d. Liquidation basis of accounting. 3. easy Any service that requires a CPA firm to issue a report about the reliability of an assertion that is made by another party is a(n): b a. accounting and bookkeeping service. b. attestation service. c. assurance service. d. tax service. 4. Three common types of attestation services are: easy a. audits, reviews, and “other” attestation services. a b. audits, verifications, and “other” attestation services. c. reviews, verifications, and “other” attestation services. d. audits, reviews, and verifications. 5. (SOX) easy The organization that is responsible for providing oversight for auditors of public companies is called the ________. d a. Auditing Standards Board. b. American Institute of Certified Public Accountants. c. Public Oversight Board. d. Public Company Accounting Oversight Board. 6. (SOX) The Sarbanes-Oxley Act applies to which of the following companies? easy a. All companies...
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...------------------------------------------------- ENGLISH SKILLS FOR INTERNATIONAL BUSINESS COURSE SYLLABUS SEMESTER 3, 2013 INSTRUCTORS 1/ Ngo Thi Tuyet Mai (Assoc. Prof, Ph.D) Email: maingotuyet@yahoo.com Phone: 0904324282 2/ Tran Thi Thu Trang (M.A) Email: trang.tranthithu@gmail.com Phone: 0989886107 3/ Nguyen Bich Ngoc (PhD. Fellow) Email: bichngoc159@gmail.com Phone: 0919956929 CLASS HOURS: | 1-3, Monday, D2-203 | OFFICE: | Building 7, Room 307 & 310 | OFFICE HOURS: | Appointments are usually available | ------------------------------------------------- | | Course Description: This course is designed for International Business Management major who will ultimately be engaged in doing business internationally. In this course, students will learn the basis of writing business letters and the purpose of writing a business letter; draft a plan for the letter; write the letter; and edit the letter to ensure it fulfills your purpose. Particularly, an introduction to international business letter with some typical correspondence such as Enquiries, Replies and Quotations, Orders, Complaints and Adjustments will be delivered to the students. The course aims to document international standard banking practice for examination of commercial documents under the UCP 600, including a general overview of import – export, commercial documents, the principles of the UCP 600, the international standard banking practice to examine these documents...
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...• Systems Thinking encompasses a variety of methods, tolls and principles with the purpose of seeing interrelatedness of forces that is part of a process (Senge et al. 1995). • Relating to the article, I will apply the Four Levels of Thinking from the topic of Systems Thinking. The Four levels by (Senge et al. 1995) consists of Events – which is the issue at hand that often need immediate response, Patterns – the changes in variables that occur over time, Systemic Structures – the cause that supports and create the patterns which led to the events, and lastly, Mental Model – which are individual and business beliefs which causes the structure to be the way it is. From the article, the event where Google turned Palestine into a state by changing its name on its Palestinian homepage from “Palestinian territories” to “Palestine”, suggesting that they recognized the upgraded UN status. This action has caused a spark in the diplomatic row as it carries great symbolism (Hammond 2013). One of the pattern in the past is where the European Union (EU) ban the export of spyware technology by European companies to governments and countries such as Iran, this action by EU is getting others to be involved and not to complicit in human rights abuses(Hammond 2013). One of the systemic structures that can be seen in the article is globalization, and the cause of this event is mainly due to greater interconnectivity, sharing of social, economic and political issues in today’s world (Hammond 2013)...
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...Wireless technologies Remote innovations wireless correspondence advancements are the best responsibilities to mankind. Remote correspondence incorporates the transmission of information over a division without help of wires, connections. The transmitted detachment can be wherever between two or three meters and a colossal number. A rate of the contraptions used for remote correspondence are cordless telephones, GPS units, mobiles, GPS units, remote PC parts, and satellite TV. Mobile technologies Portable innovation is absolutely what name illustrates – advancement that is advantageous; it implies any device which you can pass on with you to perform a wide variety of "assignments". It is development that allows those errands to be performed by method for vehicles, PDA, compact PCs, et cetera. A standard phone has gone from being near a fundamental two-way pager to being a PDA, a GPS course system, a web project, and minute errand individual structure, a video gaming system, and significantly more. It consolidates the use of a variety of transmission media, for instance, radio wave, microwave, infra-red, GPS and Bluetooth to consider the trading of data by method for voice, content, video, 2-dimensional institutionalized labels and that is just the tip of the iceberg. Progresses in the remote development are offering opportunities to associations to ponder how they offer to their customers by opening up their business channels. Ways in which wireless technologies improve the organization’s...
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...TAX PLANNING CASES 1. The Duke of Westminster” Principle. Lord Tomlin stated: “every man is entitled, if he can, to order his affairs so that the tax attaching …is less than it would otherwise be. 2. The “Ramsay” Principle: This was established in a Capital Gains Tax Cases in relation to composite transactions. At the time, the most prevalent scheme to avoid tax(especially Capital Gains Tax ) was to enter into a series of transactions, which would facilitate the following: a) Conceal the sale of property subject to Capital Gains Tax (CGT) b) The exchange of shares for shares, which would not have CGT implications. This interdependent series of transactions would normally be “circular and self cancelled “. The Ramsay doctrine provides that whether a series of transactions is genuine or artificial would be dependent on the end result. Transactions which have no commercial purpose are treated as a fiscal nullity. The preordained series of transactions are disregarded if they have no business purpose other than achieving the preordained end. The same principle was extended in CIR vs. BURMAH OIL CO.LTD. 3. Francis vs Dawson Facts of the Case George Dawson and family owned two private companies which they wanted to sell. If they were sold in UK at a gain, it would be subject to Capital Gains Tax. Dawson wanted to sell to W Ltd a UK company. He was advised to sell by an exchange of shares for shares with an offshore company, G Ltd. G. Ltd then sold...
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...customs, ceremonies, behaviours and beliefs shared by a social gathering (national, ethnic, organizational, and so on) Cultures likewise offer languages, or methods for talking. From a correspondence view, societies are made and remade through the words we use to describe our planet. Society speaks to a normal set of qualities shared meanings, imparted by parts of a people, an association, a project/programme reason unit or a calling (e.g., architects versus researchers). Culture change with the times however the speed at which the society of different establishments change vary widely. Organizational culture is defined as needs of qualities and conducts that help the strange social and mental environment of an association. Organizational society incorporates an association's desires, involvement, good sense, and qualities that hold it together, and is communicated in its mental self profile, internal workings, communications with the outside planet, and expected desires. It is dependent upon imparted state of mind, convictions, traditions, and composed and unwritten decides that have been produced after some time and are recognized quality. Organizational society imply to culture in any sort of association be it school, college, not-for-profit groups, government institutions or business elements. Associations (e.g., project/programme reason associations) improve their own particular society. The society of an association comprises of components that are valued and rehearsed...
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...Volume 1 3L’s Learning Services Business Communications Business Writing in the Mortgage Industry Business Communications Underwriting Training Manual ( 3L’s Training Services 12345 Main Street • Suite 100 Atlanta, GA 30303 Phone 404.555.0167 • Fax 404.555.0168 Table of Contents Introduction 1 Training-at-a-Glance 1 The Writing Process 2 Planning Business Messages 3-9 Defining Your Purpose 3-4 Understanding Your Audience 4-5 Gathering Information 6-7 Establishing a Good Relationship 8-9 Writing Business Messages 10-16 Organizing Your Message 10-13 Understanding the Need for Organization 14 Composing and Shaping Your Message 15-16 Answer Key 17-20 Lesson 2a 17 Lesson 2b 18 Lesson 2c 18-19 Lesson 3a 19-20 Introduction W elcome to the Underwriting Training Course. This course will help you to determine the relevance of effective business communications in your Underwriting job. Good communication skills are important in any business because these skills help the organization succeed. “Only through effective communication can you anticipate problems, make decisions, coordinate work flow, supervise others, develop relationships, and promote products and services” ( Thill and Bovee 4). While only a portion of the Underwriter’s...
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...1. Identify the nuggets from the two-day sessions of Business Ethics class and explain how would you apply those nuggets in your work place. ANSWER: Nuggets from the lecture Ethics defined as the study of right or wrong and as broadly as the general inquiry into what is good. Ethics examines the right or wrong within the context of moral duty. Business ethics is a form of applied ethic in business activity that examines ethical principle and moral or ethical problem that may occurred on business environment. It is applies to all business activity either to the conduct of individual or entire organization. Some business may have same issue related to the business ethic such as problem of product quality, transparency of the financial statement, environmental issues, human right, workplace quality and safety issue etc. In business a company shall create a regulation and code that will regulate the daily life and how business should perform in ethical way. Those we call it Code of Business ethic and Conduct. Code of business ethic and conduct for the company is very important to set up and regulate the life of company. It’s collection of principle in term how they believe and aims to live by. It is also reflected the corporate culture and its vision and mission of the company. How the code of conduct applied in Chevron which they call it “The Chevron Way”. The Chevron code of conduct built in line with their company’s vision and mission. Integrity is one of highest...
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...Price Waterhouse Coopers Organizational Behavior Name: Institution: Introduction The primary center of the lead research was to discover the relationship in the middle of employees and management in admiration to inspiration at Price Waterhouse Coopers . From the online investigation of workers conduct and management meeting, it got observed that there was a potential hole in inspiration. This hole was a separation in the middle management and employees. Employees' perspective was unique in relation to that of the chief, in which they regularly obliged an instrumentality a prize or a reward to enhance an individual's performance. Most employees didn't take working at Price Waterhouse Coopers as their future occupation for different reasons. Price Waterhouse Coopers faces several organizational behavior challenges. However, solutions to these challenges can be provided to better the company. Organizational Behavior Challenges Improving People Skills: Unless employees and officials are prepared to have the obliged skills to adjust those progressions, the set objectives can't be accomplished within the set deadline. There are two separate classifications of skills, which include managerial and specialized skills. Innovative, structural, and ecological progressions, are quickened at a faster rate good to go afield. For managerial skills, they incorporate listening, arranging and sorting out, rousing, heading, critical thinking, and choice making skills...
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...comprises of an organization's structure, work and authority flows, people and management information systems which is designed to help the organization accomplish specific goals or objectives. If LJB Company decides to go public, the components of the Internal Control would be based upon the procedures of a controlled environment, risk assessment, control activities, information and communication and monitoring. LJB has had a great retention rate that allows us to identify on a business and personal level with the employees. The employees here at LJB, have shown consistent work ethic as they have also proven to have a shared investment with the company. Our controlled environment is tightly knitted together with the job duties delegated to individuals that matches their specific education and back ground. There was mention of an indelible ink machine. Using this machine would help prevent fraud because the ink used cannot be erased or washed away. This machine falls under the internal control principles of cash disbursements Quarterly training and testing will also be implemented to make sure all employees are made aware of any new changes, policies and procedures that have taken place within the company....
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...Assignment One: Information Needs for the AIS Lindsay Bostick ACC 564 Accounting Information Systems Note: This assignment is submitted on April 15, 2016 to Dr. Ahmad Abudiab in fulfillment of a requirement for successful course completion. Introduction of Accounting Information Systems “Accounting is a data identification, collection, and storage process as well as an information development, measurement, and communication process. By definition, accounting is an information system, since an AIS collects, records, stores, and processes accounting and other data to produce information for decision makers (Romney, p. 10).” The accounting process controls what happens in other groups such as marketing, services, human resources, sales, IT, staff, customer service, organizational, and inventory. Decisions are only made if the accounting team allows them to. Funding needs to be budgeted and accounted for before any money is spent within those other teams. “An AIS can be a paper-and-pencil manual system, a complex system using the latest in IT, or something in between. Regardless of the approach taken, the process is the same. The AIS must collect, enter, process, store, and report data and information (Romney, p. 10).” It doesn’t matter if the accounting team uses software such as QuickBooks, an internal accounting system, or just an EXCEL spreadsheet to collect the information as long as it is timely and accurate. The company that...
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