useful, it must be representative of and integrated into day-to-day corporate activities and corporate performance. ▪ If sustainability is seen only as an attempt to provide effective public relations, it does not create long-term value and can even be a value destroyer. ▪ The key to success is integrating sustainability into business decisions, identifying, measuring, and reporting (both
Words: 12220 - Pages: 49
COURSE NAME: MBA-621-FINANCIAL AND MANAGERIAL ACCOUNTING NAME: ANGELINA TAYLOR STUDENT ID: R1402D57229 DATE: 25-11-2015 ASSIGNMENT TWO Part 1- Planning and Control 1) The primary purpose of a budget The primary purpose of a budget is to serve the needs of management in respect of the judgments and decisions it is required to make and to provide a basis for the management functions of planning,c ontrol, communication and motivation. J R Dyson noticed the following about the usefulness
Words: 1844 - Pages: 8
systematic removal of waste by all members of the organization from all areas of the values stream. Lean is often referred to as a cost-reduction mechanism. Lean strives to make Lean, six sigma and lean sigma organizations more competitive in the market by increasing efficiency, decreasing costs incurred due to elimination of non-value-adding (VA) steps and inefficiencies in the processes as well as reducing cycle times and increasing profit for the organization. Objectives
Words: 4442 - Pages: 18
of the respondents had either fully outsourced or co-sourced their internal audit function. Further, non-department entities were found to more likely to fully outsource their internal audit function than the departments. Lack of technological know-how and service quality of external providers seem to outrank cost-related factors as reasons for outsourcing. The study also raises several issues in relation to a lack of segregation of duties in the process of selecting and monitoring outsourced arrangements
Words: 8669 - Pages: 35
Chapter 5 REVENUE AND MONETARY ASSETS Changes from Tenth Edition The chapter has been updated. The SEC’s SAB101 Revenue Recognition tests have been added. Approach The sequence of transactions for accounts receivable and bad debts often causes difficulty; indeed, the time that one is sometimes forced to spend on this topic is all out of proportion to its importance. Students often do not understand why an Allowance for Bad Debts account is necessary at all; they do not grasp the notion
Words: 14148 - Pages: 57
INTERNAL CONTROLS AND ORGANIZATIONAL PERFORMANCE: A CASE OF MEDIPONT INDUSTRIES LIMITED BY OCHOGE JOHN 05/U/9462/EXT SUPERVISOR MR. NZIBONERA ERIC A RESEARCH REPORT SUBMITTED IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE AWARD OF THE DEGREE OF BACHELOR OF COMMERCE OF MAKERERE UNIVERSITY JUNE 2011 DECLARATION I, Ochoge John, declare that this research report is my original work. It has not been submitted to any other university or higher institution
Words: 9967 - Pages: 40
McGraw-Hill/Irwin 2002 The McGraw-Hill Companies, Inc. Managerial Accounting, 5/e 10-1 CHAPTER 10 Standard Costing and Performance Measures for Today’s Manufacturing Environment ANSWERS TO REVIEW QUESTIONS 10-1 Management by exception is a managerial technique in which only significant deviations from expected performance are investigated. 10-2 Any control system has three basic parts: a predetermined or standard performance level, a measure of actual performance, and a comparison between
Words: 12077 - Pages: 49
Internal Controls LJB Company Name Submitted to ACCT504 Accounting & Finance: Managerial Use & Analysis School: Submitted: Executive Summary This report provides an analysis and evaluation of the internal controls at the LJB Company and what is required before going public. We will touch base on IT Governance, Sarbanes-Oxley and COBIT, highlight items that LJB is doing right as well as those items LJB is doing wrong and a few improvements along the way. Company Overview
Words: 2475 - Pages: 10
data needs to be controlled / secured and is also indicative of its value in terms of Business Assets. The classification of data and documents is essential if you are to differentiate between that which is a little (if any) value, and that which is highly sensitive and confidential. When data is stored, whether received, created or amended, it should always be classified into an appropriate sensitivity level. For many organizations, a simple 5 scale grade will be sufficient as follows: Document
Words: 6802 - Pages: 28
Accounting System Controls In accounting systems, certain controls are needed to ensure that employees are doing their jobs properly and ensure that the system runs properly. These checks are in the best interest of the organization. These controls come in the form of internal and external controls for the system. The internal controls are the checks that are placed in the system my the company's own management and directors. Today more and more companies are moving from the manual
Words: 2198 - Pages: 9
