RUNNING HEAD: Internal Controls and Maintaining Company Morale FINAL PAPER DEVELOPING AND IMPLEMENTING EFFECTIVE INTERNAL CONTROLS AND MAINTAINING EMPLOYEE MORALE By Melissa P. Abbey EM 290D DIRECTED STUDEY IN MANAGEMENT Submitted To Professor Donovan A. McFarlane, D.B.A. FREDERICK TAYLOR UNIVERSITY Moraga, California September 25, 2013 Abstract This report explores the aspects and importance of effective internal controls and how to maintain positive employee morale while
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Contents Internal Control Requirements………………………………………………….3 Bank Reconciliation…………………………………………………………………..4 Pre Numbered Invoices……………………………………………………………..4 Pay Checks………………………………………………………………………………..4 Indelible Machine……………………………………………………………………..4 Purchasing and Paying for Supplies…………………………………………..4 Human Resources……………………………………………………………………..4 Petty Cash…………………………………………………………………………………5 Assign Passwords………………………………………………………………………5 Review and Evaluation of Internal Controls………………………………6
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INTERNAL CONTROLS Assignment U03A3 Joseph A. Mendoza MBA 6014 Capella University Introduction When a company becomes public, opportunities open up for such company to grow, expand , and have global presence. With these opportunities, come responsibilities toward the shareholders. Those who choose to invest based on the strength and possibilities of the company. For years, markets were shrinking responsibilities, and shareholders suffered through investments made on bad information
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Evaluating and Improving Internal Control in Organizations Internal control is a crucial aspect of an organization’s governance system and ability to manage risk. It is also fundamental to supporting the achievement of an organization’s objectives and creating, enhancing, and protecting stakeholder value. High-profile organizational failures typically lead to the imposition of additional rules and requirements, as well as to subsequent time-consuming and costly compliance efforts. However
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SETTING UP INTERNAL CONTROLS IN A CORPORATE ORGANIZATION BY OBATOMI JOSEPH(ACA, ACE ,HND (ACCA/ BSC APPLIED ACCOUNTING,OXFORD BRKS UN-IN VIEW) Every corporate organization either profit motivated or nonprofit motivated is exposed to one peril or the other. These perils could be financial or non- financial. These could be fire, accidents, natural disasters, and other destruction of assets. But the most frequent losses that businesses and non profit organizations suffer are from theft and embezzlement
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AN EVALUATION OF THE INTERNAL CONTROLS SYSTEM FOR CASH FOR THE CASE OF NAIROBI SMALL BUSINESSES BY CLEOPHAS MUSINGA A Management Research Project Submitted In Partial Fulfillment For The Requirements Of The Award Of Bachelor Of Commerce (BCOM), School Of Business, University Of Nairobi JULY, 2008 DECLARATION This research project is our own original work and has not been submitted for academic purposes in any institution of higher leaning. Name Number
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weaknesses in internal controls, the systems a public company employs to collect, process, and disclose financial information to satisfy its statutory reporting requirements. Recent corporate and accounting frauds have demonstrated the inadequacy of internal controls with regard to revenue recognition. The act also contains requirements aimed at ensuring proper revenue recognition. The new auditing requirements for internal controls states that auditors must test the scope of a company’s internal control
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Internal Control Case Study #2 Acct 504 Accounting and Finance Managerial Use Table Of Contents 1. New Internal Control requirements if company goes public (pg. 2) 2. Suggest what company is doing correct and why ink machine should not be purchased. Pg. 3 3. Internal control principle used 4. What are the wrong internal control methods being used and Principle that is being violated and recommendations on how to improve
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Goodner Brothers, Inc. Internal Control Issues 1.List what you believe should have been the three to five key internal control objectives for Goodner’s Huntington sales office. 1. Assets Safeguard The padlock and other some security are used as a physical protection of Goodner’s inventory from stolen by unauthorized person. 2. Authorization of Transaction Goodner’s policy said that the new customer required an approval of the sale manager for the credit sale. The objective of this
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ACCT-504 Week 5 Case Study 2 Internal Control – LJB Company Click Link Below To Buy: http://hwcampus.com/shop/acct-504/acct-504-week-5-case-study-2-internal-control-ljb-company/ Or Visit www.hwcampus.com Case Study 2 – Internal Control- Due by Sunday of week 5 LJB Company, a local distributor, has asked your accounting firm to evaluate their system of internal controls because they are planning to go public in the future. The President wants to be aware of any new regulations required
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