...strengthen the company’s global financial competitiveness. Moreover, it will simplify the accounting and consolidation process significantly and reduce financial reporting costs. 2) What potential effect would arise if Klugen were to select the option under IFRS 3 to value non-controlling interest at the proportionate share of its subsidiaries’ net identifiable assets? For business combination, the buyer can control without buying all of the equity, the remaining , so-called the non-controlling, equity interests are measure either at fair value or at the non-controlling interests’ proportionate share of its subsidiaries’ net identifiable assets. Under IFRS 3, the potential effect would arise is that it will result in benefits for users by improving comparability and will increase the relevance of information provided. Moreover, it identifies and evaluates the main costs and benefits for users. 3) Do you believe that an impairment of goodwill would be more likely under IFRS or under U.S. GAAP? Why or why not? There is a difference in goodwill impairment measurement. Under U.S GAAP, two-step approach is used. It looks to the reporting unit. However, under IFRS, one-step approach is used. It is based on the value in use and it looks to the cash-generating unit. The cash-generating unit is smaller than reporting unit and leads to more impairment of goodwill. I believe that an impairment of goodwill would be more likely under IFRS. Under IFRS, good will is no longer deemed...
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...Memorandum: of Fraud Examination TO: Mr. Robert Moritz, U.S. Chairman and Senior Partner, PwC FROM: Bilen Kebede, Lead Forensic Accountant DATE: MAY 31, 2015 SUBJECT: Icon Telecom Lifeline Fraud Lifeline Fraud Executive Summary Using the Lifeline fraud case as an example, this memo will analyze the case and prevent future fraud by similar telecommunication companies. Suggested recommendations include a proactive fraud auditing, a whistle-blowing system, and employee assistance programs (EAPs). Facts of The Case and Charges In 2014, both Icon Telecom and Wes Yui Chew, who was the sole owner of the company, were convicted of making false statements and money laundering for around $27 million from cell phone subscribers and the US government. Beginning in 2005, Lifeline provided subsidies to participating telephone companies not only for landline service, but also for wireless service for qualifying low-income customers (U.S. Attorney’s Office, 2015). Nonetheless, Icon took advantage of the subsidy program to be reimbursed for more than it merited. Icon Telecom provided Lifeline discounts to subscribers from July 2011 through September 2013. In this short period of time, the organization misappropriated a large amount of the funds available. At the start of the business, the company stated that they had 2,200 Lifeline subscribers. By the end of 2012, Icon was claiming more than 135,364 subscribers. This dramatic increase in the number of subscribers went...
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...Project to Improve Financial Reporting and Auditing (PIFRA) By Azeez Ahmad Zai Deputy Accountant General AG Sindh, Karachi. Introduction: The Govt. of Pakistan took an initiative to address the shortcomings of the financial reporting system and to ensure good governance. The IMF carried out a survey in Government Accounting in early 1990s, followed by a diagnostic study sponsored by the World Bank. As a result, the Project to Improve Financial Reporting and Auditing (PIFRA) was introduced by the Auditor General of Pakistan in 1994. The main objective of this project is to computerize the whole accounting and auditing system of the country. The idea behind computerizing the whole system is to generate timely, accurate and reliable financial statements; to monitor fiscal deficit; to forecast flow of cash; to manage public debt and to achieve effective financial controls. The accounting system of Pakistan was inherited from the century old accounting system of the Indian govt. The old accounting system lacks timeliness, accuracy and most importantly transparency. Accounts of any organization, large or small, are the most important tool for curbing the corruption by keeping an eye on ins and outs of the money and more importantly they give the overall inner picture of the organization to the stakeholders which helps them take better financial decisions. While talking about the country as an organization the importance of the accounts becomes much more vital...
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...SUSTAINABILITY AT TELSTRA Bigger Picture 2014 Sustainability Report Sustainability at Telstra Contents CONTENTS About us Chairman and CEO message Sustainability scorecard Sustainability highlights Our approach Strategy infographic 03 04 05 06 07 08 Stakeholder engagement Key issues 09 10 11 Click on page links Transparency and accountability Bigger Picture 2014 Sustainability Report 2 Sustainability at Telstra About us ABOUT US Our business Telstra is Australia’s leading telecommunications and information services company, offering a full range of communications services and competing in all telecommunications markets. We employ close to 32,000 people directly, facilitate access to more than 1,900 points of presence across the globe and have one of Australia’s largest shareholder bases, with 1.4 million shareholders. We have a diverse range of customers, including consumers, small business, large enterprises and government organisations, and we strive to put them at the centre of everything we do. In Australia, our services are offered through 362 Telstrabranded retail stores, 90 Telstra Business Centres, 127 Telstra business and enterprise partners and are distributed by over 15,000 retail points of presence managed by our partners. In Australia we provide 16 million mobile services, 7.5 million fixed voice services and 3.7 million fixed data services. Telstra’s international businesses...
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...PROGRAMME 2013-14 CORPORATE SOCIAL RESPONSIBILITY COURSEWORK ASSIGNMENT WONG LAI HUNG 40136508 CONTENT Introduction ................................................................................................. P. 3 Evaluation - Reporting Quality Balance ........................................................................................................ P. 4 Comparability ............................................................................................ P. 5 Accuracy ..................................................................................................... P. 6 Timeliness ................................................................................................... P. 6 Reliability .................................................................................................... P. 7 Clarity ......................................................................................................... P. 8 Conclusion .................................................................................................... P. 9 Bibliography .............................................................................................. P. 10 Introduction Global Reporting Initiative (GRI) is provides the globally applicable guidelines to business organization that voluntary use to design and ensure the quality of their sustainability reports. GRI framework is helping the organization to measure and report the sustainability...
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...Launching a PMO is just like any other organisational change project and should be approached as such. In Transformed's experience there are a number of key steps that need to be undertaken to create a PMO that works for the organisation. 1. Establish the Role, Scope and Outcomes The role of the PMO will be different in every organisation. It is important to consult widely with stakeholders to establish their ideas and needs and to determine how and where the PMO will fit within the organisation. 2. Review Existing Projects and Skill Levels to Identify Needs Often the incentive for establishing a PMO comes from a history of failed or under-performing projects. Examining recent and existing projects will identify skills and other gaps that the organisation can address through the PMO. 3. Plan the Implementation According to Needs Once you have determined the purpose of the PMO and what it is to achieve you then need to prepare a PMO implementation plan. 4. Establish Procedures and Processes Depending on the scope of the PMO it may require documentation of issues like: project approval processes, recruitment and training and funding management. Document templates may also be developed. Develop reporting mechanisms and timeframes: The PMO is likely to have a number of different reporting responsibilities. For example individual projects may need to report regularly to the PMO and the PMO may have to provide an organisational or portfolio report to the executive. To be effective...
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...Sustainability Reporting Guidelines & Oil and Gas Sector Supplement © 2000-2012 GRI Version 3.1/OGSS Final version The Oil and Gas Sector Supplement is based on the G3.1 Sustainability Reporting Guidelines © 2000-2012 GRI Version 3.1/OGSS Final version Oil and Gas Sector Supplement Sustainability Reporting Guidelines RG & OGSS Table of Contents Overview of the Guidance provided in this Document for the Oil and Gas Sector Human Rights Society Product Responsibility 43 47 52 Preface Sustainable Development and the Transparency Imperative General Reporting Notes Data Gathering Report Form and Frequency Assurance 10 Glossary of Terms Acknowledgments 12 12 13 14 54 54 55 56 58 Introduction Introductory Section for the Oil and Gas Sector Overview of Sustainability Reporting The Purpose of a Sustainability Report Orientation to the GRI Reporting Framework Orientation to the GRI Guidelines Applying the Guidelines Part 1 Defining Report Content, Quality, and Boundary Guidance for Defining Report Content Principles for Defining Report Content Principles for Defining Report Quality Guidance for Report Boundary Setting 16 17 22 26 Part 2 Standard Disclosures Strategy and Profile 1. Strategy and Analysis 2. Organizational Profile 3. Report Parameters 4. Governance, Commitments, and Engagement 5. Management Approach and Performance Indicators Economic Environmental Social: Labor Practices and Decent Work 40 29 29 30 30 31 33 34 36 ...
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...Few memories as a failure on a major project from half a decade ago still vividly remains in memories. As a Research Assistant to Tim, it was my first paid job. Tim, an Engineer, worked in silos and had driver social style to his heart beat. He only communicated the expectations without delving in the details that he had in his mind. Even though the Office space was a closed knit space for 16 students, Tim seldom hung out with people to build personal relationships. He only interacted with others when there was a need. His lack of explanation on why the project was needed had left me wondering regarding purpose and design aspects of the new programming project. I struggled on how to effectively design the project and often sought help from other people, who recommended me that the project needed investment in new programming platform as old platform was incapable of achieving the project objectives. After making almost no progress on the project and wasting time in attempts to make old platform workable, I received a vehement email from Tim, stating that XYZ Inc. was deciding to scale back on funding, as no progress reports were submitted. I was shocked to learn that I was even expected to submit progress reports at the end of quarter on the undertaken project in which I had neither any clue nor communication. As an amiable person, I was too quick to reach an agreement with Tim on project deliverables. I had thought that I would be receiving friendly advice and guidance from...
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...and answer document, uploaded to D2L dropbox. You will have to find an IT professional to interview on your own. Description of this assignment 1. Each student needs to find a candidate for a Post-implementation Review (PIR) report describing an information systems development project. 2. Where can you find an information technology professional to interview? You will have to find an IT professional to interview on your own. 3. If you work for a business or government organization, you should consider interviewing the IT/MIS director for your organization. If you work P/T or F/T in any reasonably sized organization, it is likely that there are some IT workers around (like help desk staff, programmers, analysts, network technicians or even IT managers). It can even be a friend, relative or acquaintance you know who works in such a job. 4. The following is a list of themes that you could address in the interview: Please do not write this paper in question and answer format. Use the questions below to help guide the interview. ▪ What type of job does he/she do? For whom? ▪ What projects is he/she currently working on for the organization? ▪ What projects has he/she recently completed? ▪ What IT applications has the firm recently implemented? ▪ Were the most recently applications developed in-house, were they outsourced development or were they application software packages that were customized and purchased? ...
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...Kempen | C402/C405 | Extend Diploma Mechanical Engineering EDENGM22A/B | Peter Kempen | C402/C405 | | GCSE English | Katherine Davey | G4 | GCSE English | Katherine Davey | G4 | | AS English Literature | Francesca Thomas | A58 | | | | | Archaeology: Unit 1 | Caroline Wilcox | B254 | Archaeology: Unit 2 | Caroline Wilcox | B254 | | Vocational Business assignment completion | Kemi Osoba | A49 | Vocational Business assignment completion | Bekoe Newman | A49 | | Vocational Sport and Travel Tourism assignment completion | Danny Chilvers | A50 | Vocational Sport and Travel Tourism assignment completion | Danny Chilvers | A50 | | AS /A2 GraphicsExtend Diploma Year 2 Final Major Project | Mark Pearson | Art Rooms | AS /A2 GraphicsExtend Diploma Year 2 Final Major Project | Mark Pearson | Art Rooms | Spring Term Revision Schedule 2013-14 Week 1 | Tuesday 8th April | | Morning session 10.00-12.00 | Afternoon Session 1.00-3.00 | | Subject/course | Teacher | Room | Subject/course | Teacher | Room | | A2 Business (China Research Theme) | Nessa | A25 | AS Business | Nessa | A25 | | A2 Economics | Charles | G5 | AS Economics | Charles | | | AS Business | Sarah (11.00-12.30) | A39 | A2 Business (Higher level exam technique) | Sarah | A39 | | AS Law | Amina | A26 | | | | | Vocational Business assignment completion | Kemi Osoba | A49 | Vocational Business assignment completion | Bekoe Newman | A49...
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...New South Wales Auditor-General’s Report | Performance Audit | WestConnex: Assurance to the Government Professional people with purpose Making the people of New South Wales proud of the work we do. Level 15, 1 Margaret Street Sydney NSW 2000 Australia t +61 2 9275 7100 f +61 2 9275 7200 e mail@audit.nsw.gov.au office hours 8.30 am–5.00 pm 247 audit.nsw.gov.au New South Wales Auditor-General’s Report Performance Audit WestConnex: Assurance to the Government Roads and Maritime Services WestConnex Delivery Authority Infrastructure NSW Transport for NSW NSW Treasury Department of Premier and Cabinet The role of the Auditor-General GPO Box 12 Sydney NSW 2001 The roles and responsibilities of the AuditorGeneral, and hence the Audit Office, are set out in the Public Finance and Audit Act 1983. Our major responsibility is to conduct financial or ‘attest’ audits of State public sector agencies’ financial statements. We also audit the Total State Sector Accounts, a consolidation of all agencies’ accounts. Financial audits are designed to add credibility to financial statements, enhancing their value to end-users. Also, the existence of such audits provides a constant stimulus to agencies to ensure sound financial management. Following a financial audit the Audit Office issues a variety of reports to agencies and reports periodically to parliament. In combination these reports give opinions on the truth and fairness of financial statements...
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...For ""Anticipated Project Size"" use your internal metrics as guidance. For example, if you use lines of code, then mentally assign ball park values to Small, Medium and Large as part of determining whether to give this criteria a high or low score. Follow a similar process ""Anticipated Duration"". Since project duration depends on project complexity, mentally categorize earlier projects as short, average or long duration to help put the current project in context. 2. After assigning a score for each criteria, view the Feasibility Study Suitability Indicator to discover the best method to use for determining project viability. 3. Omitted criteria will give an inaccurate result, so ensure all criteria are scored before checking the indicator." Criteria "Score (1=high, 3=low)" Guidelines Business Risk "1 = Significant, high-risk projects 2 = Low-to-modertate risk projects 3 = Small, low risk projects" Technology Risk "1 = Significant, high risk technological risks 2 = Low-to-moderate technological risks 3 = Small, low technological risks" Anticipated Project Size "1 = Large 2 = Medium sized 3 = Small" Anticipated Project Duration "1 = Long 2 = Medium duration 3 = Short" Project Dependencies "1 = Substantial and intricate project dependencies 2 = Minimal or manageable project dependencies 3 = No project dependencies" ...
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...(EPIEC) . From there he gained a lot of working experience and knowledge which made him to success in his business later . Business Motivation and starting One of the motivating factors was his father’s dream of his establishment in the society and another factor was after the independence of Bangladesh Aminul Islam realized that a new country has been born, therefore, a lot of construction will be needed for the development of the country and that is when he came up with the idea of Project Builders Limited. He proposed the idea to three other recent BUET graduates and they agreed to start with this new business. After the death of one of the partner and other two sold their share currently Aminul Islam is the only Managing Director and Chairman of Project Builders Limited. Vision The vision of Project Builders limited is to make quality constructions and make a strong infrastructure development of the country. Mission Construction of important structure and projects and to become the number one construction builder in Bangladesh. Initial Finance The company was initially started with four partners along...
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...knowledge to serve my best to the organization as well as my professional growth. Academics Relevant Courses: • Completed six weeks course and training in JAVA from SLR Infotech Pvt. Ltd, CHANDIGARH. • Pursuing 6 Months course and training in JAVA from DUCAT,NOIDA. • Completed six weeks course in C++ From ICT, KAITHAL B. Tech Projects: S.No Name Of the Project Description Team Members Roles and Responsibilities 1. CHANDIGARH TOURISM (B.Tech Summer Training Project) It was a software project based on core JAVA. It includes all the places to visit , map of chandigarh , hotel room booking , slides . Backend was based on MS-ACCESS . 2 Coding of Some pages, database manipulation & connectivity and preparing Crystal Reports. 2. DELHI TOURISM (B.Tech Minor Project ) It was a software project based on core JAVA. It includes all the places to visit , map of delhi , hotel room booking , slides . Backend was based on MS-ACCESS . 2 Coding of Some pages, database manipulation & connectivity and preparing Crystal Reports. 3. CRIME FILE MANAGEMENT (B.Tech Major Project ) It was a website describing various departments in crime department. It includes 3 modules WRITER , INSPECTOR , ADMIN. Writer writes complaints , Inspector investigates by watching the record using id’s and admin has all the controls. Platform used was ECLIPSE and backend was ORACLE database. 2 Overall designing of pages & coding of Admin Panel. Extra...
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...The following case represents a realistic situation facing construction firm that has just won a competitive contract. The realistic conditions complicating the project are described in detail, as are the alternatives offered by the staff for dealing with these complexities. Case The Sharon Construction Corporation The Sharon Construction Corporation has been awarded a contract for the construction of a 20,000-seat stadium. The construction must start by February 15 and be completed within one year. A penalty clause of $15,000 per week of delay beyond February 15 of next year is written into the contract. Jim Brown, the president of the company, called a planning meeting. In the meeting he expressed great satisfaction at obtaining the contract and revealed that the company could net as much as $300,000 on the project. He was confident that the project could be completed on time with an allowance made for the usual delays anticipated in such a large project. Bonnie Green, the director of personnel, agreed that in a normal year only slight delays might develop due to a shortage of labor. However, she reminded the president that for such a large project, the company would have to use unionized employees and that the construction industry labor agreements were to expire on November 30. Past experience indicated a fifty-fifty chance of a strike. Jim Brown agreed that a strike might cause a problem. Unfortunately, there was no way to change the contract. He inquired about...
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