...ENACTMENT OF ORDINANCE PROCEDURES/STEPS: Section 1, Rule VIII of the Rules of Procedure of the Sangguniang Panlungsod on Procedure for Ordinances, Resolutions and other legislative matters provides that “legislative actions of a general and permanent character shall be enacted in the form of ordinances, while those which are ministerial or administrative in nature and of temporary character or matters relating to proprietory functions and to private concern shall be acted upon by resolutions.” Section 4, also states that “Before an ordinance may be finally enacted, it shall undergo three (3) readings,” to wit: a. – First Reading, which shall consist of the reading by the secretary of the title of the proposed ordinance and the name of its author/s and shall be referred by the City Council to the appropriate Committee/s without debate. b. – Second Reading, at which the proposed ordinance, after having been sponsored on the floor by the Committee Chairman or by any Committee Member designated for the purpose, shall be read in full in the manner recommended by the Committee/s, whereon the motion shall be subject, first, to debate, and thereto amendments and all proper parliamentary motion. When the validity of the ordinance or resolution mandatorily requires public hearing, the Sangguniang Panlungsod shall strictly adhere to the following procedures: After the draft ordinance or resolution shall have passed second reading, the...
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...referred it to the Division Bench of the High Court, and then finally being disposed by the Honorable Supreme Court of India in 1990. The case assumes importance as it relates to some very important questions of law, which were finally put to rest by this judgment of the Honorable Supreme Court of India. This matter deals with the question of the jurisdiction of the civil courts in matters of Land Revenue. The other question that has been deliberated upon in this matter is as regards to the nature of Section 85 and Section 86 of the Punjab Land Revenue Act, 1887. These Sections being analogous to Rule 84, 85, and 86 of the Code of Civil Procedure, 1908 have been interpreted in light of the interpretation afforded to these Rules of the Civil Procedure Code, 1908. FACTUAL MATRIX OF THE MATTER At the heart of the dispute was the allegation that Sardara Singh had been appointed as the substitute Lambaradar on 8th November, 1957 for District Ferozpur replacing the previous substitute, Hardit Singh (the original Lambardar being Narain Singh, who had undertaken liability for the land revenue which was in arrears). It was alleged that despite collection of the amount by Sardara, the same had not been deposited with the Government Treasury; consequently he was prosecuted under Section 409 of the Indian Penal Code, 1860 in relation to the amount in arrears. However, he was acquitted by the...
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...SECURITY WEAKNESSES FOR QUALITY WEB DESIGN Contents Course........................................................................................................ Error! Bookmark not defined. Introduction ............................................................................................................................................ 3 Abstract .................................................................................................................................................. 4 Company Background.............................................................................................................................. 4 Software Weaknesses and Recommendations......................................................................................... 5 Hardware Weaknesses and Recommendations........................................................................................ 6 Network Security flaws and Recommendations ....................................................................................... 7 REFERENCES:........................................................................................................................................... 7 Introduction A company that deals with making web site and web business solutions is known as Quality web design. The company provides its customers to provide an opportunity so that they can spread their business through the internet. The other business solutions accompanied are accounting...
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...of ticket sales revenue, one would Look at the revenue transactions from the general ledger to track and verify ticket stubs were actually sold. In addition, people who buy tickets might not show up so that must be accounted for. To do this, check the subsequent cash receipts to see if sales in fact exist. 2. The purpose of analytical procedures performed during the planning phase of an audit are to help the auditor better develop the nature, timing, and extent of procedures to be performed. In addition, they help decide the appropriate level of assurance an auditor will apply. Analytical procedures performed during the fieldwork process serve as substantial tests that help the auditor obtain audit evidence relating to the particular assertions related to account balances or classes of transactions. The Analytical procedures used during the two stages relate directly to each other, in that one can not be completed without the other. The information gathered from one part of the procedure is compared to thoughts and expectations from another part. 3. An analytical procedure during the planning stage includes comparing revenue ratios for Burlington with those of previous years, industry standards, or competitors to find any possible issues relating to overstatement of revenue. This can also help determine whether or not the revenue results are reasonable. 4. Estimated Revenue: $2,531,334 SEE BELOW 5. When comparing the difference in revenue from the reported...
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...hired 7 employees and earned gross revenues of $89,984.20. From those revenues, my net profit totaled $14,046.83. Below are the details of how I attempted to best run my business. What adjustments did you make to try and improve performance? The primary adjustments that I made to improve performance included proper staffing procedures and inventory control procedures. With respect to staffing, I found that I initially had trouble serving customers quickly enough during peak hours. Customers dissatisfied with their queue times often left the store, resulting in lost sales. Accordingly, I hired additional personnel and ensured that at least three employees staffed the coffee shop during those hours considered to be peak. I found that these staffing changes led to a dramatic increase in customer satisfaction, at least as far as wait times were concerned. Perhaps the most important adjustment was implementing an inventory control procedure. When I first opened the shop, I had no idea which of my products customers would most frequently purchase. Over the first few weeks, I came to understand that customers purchased donuts and muffins at extraordinarily high rates, and they also consumed milk, cream, and sugar – accessory products – quickly. In any instance where one of these products’ inventory levels dropped to zero prior to the close of business, I found my daily customer satisfaction levels, and more importantly revenues, taking a significant hit. Moreover...
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...07 Revenue and Collection Cycle “What at first was plunder assumed the softer name of revenue.” Thomas Paine 7-2 Learning Objectives 1. Discuss inherent risks related to the revenue and collection cycle with a focus on improper revenue recognition 2. Describe the revenue and collection cycle, including typical source documents and control procedures. 3. Give examples of tests of controls over customer credit approval, delivery, and accounts receivable accounting 7-3 Learning Objectives (continued) 4. Give examples of substantive procedures in the revenue and collection cycle and relate them to assertions about account balances at the end of the period. 5. Describe some common errors and frauds in the revenue and collection cycle, and design some audit and investigation procedures for detecting them. 7-4 Overall Audit Approach 7-5 Inherent Risks • Improper Revenue Recognition – Cut-off – Bill and Hold – Channel Stuffing • Returns and Allowances • Collectibility of Receivables 7-6 Revenue Recognition • Must be (1) realized or realizable and (2) earned • SEC guidance (SAB 104) – Persuasive evidence of an arrangement exists, – Delivery has occurred or services have been rendered, – The seller's price to the buyer is fixed or determinable, and – Collectibility is reasonably assured 7-7 7-8 Exhibit 7.2 Revenue Recognition Rogues 7-8 Exhibit 7.3 Revenue and Collection Cycle 7-9 REVENUE AND...
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...company acquired Corporate Collaborations this entity manages private and public social media networks that earn its revenue providing corporate social network development and hosting services. The audit committee of the company has requested the company to hire a new audit firm with a better experience in auditing of public technology companies. 2. Auditing and reporting issues: Miss Kristine Drew is the senior auditor for this company and is responsible for auditing revenue. She should start by asking for reviews from the predecessor audit firm in order to identify any problems they faced and to incorporate appropriate actions in order to minimize those risks. Ms. Drew should start off by initially accessing the controls of the activity reports. If the controls are strong and the data could not be manipulated, then it can be presumed that the data is accurate if this is not the case, then Ms. Drew should take up the services of a professional to figure out a way and if it is still not possible then she should state the facts on the audit report. The existing customers with hosting contracts of three years are changed to five-year contract, the revenues from this change have to be accounted prospectively. The revenue recognition for the new contracts for hosting that is for five years with three months free service, at the end of the five-year tenure the revenue should be charged over five years and three months and not over...
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...assignment is intended to ensure you understand some of the basic terms used in this course. Complete the worksheet below according to the following guidelines: In the space provided, write each term’s definition as used in health care management. You must define the term in your own words. In the space provided after each term’s definition, summarize a health care management scenario that illustrates the importance of the skill, concept, procedure, or tool to which the term refers. In the scenario, you may wish to consider the following: o Why the skill, concept, procedure, or tool is necessary for accurate record keeping, operational efficiency, excellent patient services, employee management, regulatory compliance, reducing costs, forecasting, and so forth o Successes enabled by an adequate understanding or appropriate application of the skill, concept, procedure, or tool o Risks or failures associated with an inadequate understanding or inappropriate application of the skill, concept, procedure, or tool Save the completed worksheet as a Microsoft® Word document with your name in the file name. Submit the file to your instructor. Worksheet Submitted By: [Earlene Patton.] |Term |Definition |Scenario | |Balance sheet |A balance sheet is a sheet of paper stating what the|This tool is necessary...
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...BA 3322 – Report (Lecture 4 – Auditing the Revenue Cycle) Drea Tech Company has been growing rapidly and has recently engaged your firm as its auditor. It is actively traded over the counter (OTC) and management believes it has outgrown the service capabilities of its previous auditor. However, on contacting the previous auditor, you can learn that a dispute led to the firm’s dismissal. The client wanted to recognize income on contracts for items produced but not shipped. The client believed the contracts were firm and that all the principal revenue-producing activities were performed. The change in accounting principle would have increased net income by 33% during the last year. Drea is 32% owned by Anthony Dreason, who has a reputation as a turnaround artist. He bought out the previous owner of Drea Tech (formerly named Johnstone Industries) there years ago. The company’s primary products are in the materials handling business, such as automated conveyors for warehouse and production lines. Dreason has increase profits by slashing operating expenses, most notably personnel and research and development. In additional, he has outsourced a significant portion of component part production. Approximately 10% of the company’s product is now obtained from Materials Movement, Inc., a privately held company 50% owned by Dreason and his brother. A brief analysis of previous financial statement shows that sales have been increasing by approximately 20% per year since Dreason...
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...2011 year-end financial statements for Granger Paper Company (GPC). GPC is a profitable company that has been in business for many years. It is primarily a manufacturing company that buys wood from timber growers and converts the wood into a variety of paper products. It is a publicly traded company with a reputation as a good corporate citizen. Although GPC has been audited many times in the past by external CPA firms, this is the first year your firm has conducted the audit. GPC’s total revenue for 2011 is $80 million. In examining the revenue for the year, you notice that $3 million of the revenue does not come from GPC’s primary operations (i.e., revenue from sales of paper goods). This $3 million in revenue is labeled as timber revenue in GPC’s books. This strikes you as odd because, generally, GPC buys timber. That is, timber is part of the cost of goods sold for GPC and, as such, is an expense. You ask GPC’s controller, Pat Smith, why GPC is recognizing timber revenue? Pat informs you that GPC began diversifying its operations a few years ago. A natural extension of its business seemed to be growing and selling timber. So, five years ago, GPC bought 10,000 acres of land in Alabama and Mississippi for purposes of growing timber. The land was purchased from a previous timber grower that had recently harvested its timber. Immediately after purchasing the land, GPC planted pine tree seedlings on all 10,000 acres. You ask Pat what is the typical growing time...
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...INTEROFFICE MEMORANDUM OF LAW TO: Elizabeth A. Dennis, Esq. FROM: Tina Daniel, Paralegal DATE: October 15, 2014 RE: Tuomey, Halifax and Stark. STATEMENT OF FACTS Tuomey Hospital In 2003, several specialty groups informed Tuomey they planned to perform surgical procedures in office instead of at Tuomey’s 266-bed hospital. To avoid a reduction in surgical case volume Tuomey employed 19 specialists as part-time employees. They each had a 10-year contract that included: • Physicians were required to perform outpatient procedures at Tuomey hospital or facilities owned by Tuomey. • Tuomey was responsible for billing and collections from patients and third party payers, including Medicare and Medicaid. • Tuomey compensated each physician with annual base salaries that hinged on Tuomey’s net cash collection for outpatient procedures. •...
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...attests to the fact that services were performed and may be billed for (Maines). Most encounter forms use "Progress" codes that are non-billable until the procedure is completed (i.e. root canals and prosthetics). Commonly these are CDT codes with "P" appended, while completed procedures have "C" appended, or have no prefix/ suffix. Depending on coverage, some procedures may need to be 'prior approved' by the third party carrier to be paid after completion. Terms for this are usually spelled out in the third party contracts. After the dentist formulates a treatment plan, it is submitted for Prior Approval, and approved services/ amounts are assigned some kind of code for billing upon completion (often called a PA number. Superbills & encounter forms help you save time and capture all charges from your patient visits. You can configure a custom Superbill for each provider in your practice, print Superbills with prepopulated patient information from the appointment scheduler, and use those Superbills to document the charges for your patient visits. By using forms customized to your unique needs, you can save time while capturing all charges. Superbills & Encounter Forms Superbills, also known as "Encounter Forms", "Charge Slips", or "Fee Tickets", are pre-printed forms that are used to document the charges, via procedure codes, associated with a patient visit along with...
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...Case 8.3: Burlingham Bees: Using Analytical Procedures as Substantive Tests Required: 1. According to professional standards (AU 329): The auditor's reliance on substantive tests to achieve an audit objective related to a particular assertion may be derived from tests of details, from analytical procedures, or from a combination of both. The decision about which procedure or procedures to use to achieve a particular audit objective is based on the auditor's judgment on the expected effectiveness and efficiency of the available procedures. For significant risks of material misstatement, it is unlikely that audit evidence obtained from substantive analytical procedures alone will be sufficient. The auditor considers the level of assurance, if any, he wants from substantive testing for a particular audit objective and decides, among other things, which procedure, or combination of procedures, can provide that level of assurance. For some assertions, analytical procedures are effective in providing the appropriate level of assurance. For other assertions, however, analytical procedures may not be as effective or efficient as tests of details in providing the desired level of assurance. When designing substantive analytical procedures, the auditor also should evaluate the risk of management override of controls. As part of this process, the auditor should evaluate whether such an override might have allowed adjustments outside of the normal period-end financial reporting...
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...Central Government Act Section 141 in The Indian Penal Code, 1860 141. Unlawful assembly.-- An assembly of five or more persons is designated an" unlawful assembly", if the common object of the persons composing that assembly is- First.- To overawe by criminal force, or show of criminal force, 10[ the Central or any State Government or Parliament or the Legislature of any State], or any public servant in the exercise of the lawful power of such public servant; or Second.- To resist the execution of any law, or of any legal process; or Third.- To commit any mischief or criminal trespass, or other offence; or Fourth.- By means of criminal force, or show of criminal force, to any person to take or obtain possession of any property, or to deprive any person of the enjoyment of a right of way, or of the use of water or other incorporeal right of which he is in possession or enjoyment, or to enforce any right or supposed right; or Fifth.- By means of criminal force, or show of criminal force, to compel any person to do what he is not legally bound to do, or to omit to do what he is legally entitled to do. Explanation.- An assembly which was not unlawful when it assembled, may subsequently become an unlawful assembly. Central Government Act Section 447 in The Indian Penal Code, 1860 447. Punishment for criminal trespass.-- Whoever commits criminal trespass shall be punished with imprisonment of either description for a term which may extend to three months, or with fine which may extend...
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...of charges), and 10% self-pay (self-pay patients pay full charges—20% of self-pay results in charity care). DRG 250 accounts for 30% of the radiology department’s labor, supply, and overhead expenses. The department’s labor expenses are $500,000—labor expenses are expected to increase 4% next year due to raises. The department’s non-labor expenses are $200,000—non-labor expenses are expected to increase 6% next year due to inflation. The department’s overhead to increase next year as well. Using the budgeting steps, calculate the volumes, collected revenues, expense, and adjustments for DRG 250 in the radiology department for next year. Submit an Excel spreadsheet that shows detailed calculations and/or a Word document that includes answers to the assignment. Format your paper according to the CSU-Global Guide to Writing and APA Requirements. Project Volumes 1. Calculate the current volume for each x-ray procedure. Procedure Admissions Volume Hand x-ray 2,200 × .40...
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