EFFECTIVENESS OF INTERNAL CONTROLS IN THE FORESTRY COMMISSION OF GHANA A CASE STUDY ATEBUBU FOREST DISTRICT. A THESIS SUBMITTED TO THE DEPARTMENT OF ACCOUNTING AND FINANCE, IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE AWARDS OF MASTERS IN BUSINESS ADMINISTRATION. (FINANCE OPTION) KWAME NKRUMAH UNIVERSITY OF SCIENCE AND TECHNOLOGY, KUMASI GHANA SCHOOL OF BUSINESS COLLEGE OF ART AND SOCIAL SCIENCE BY PRINCE KWAKU ASARE PG8365312
Words: 18473 - Pages: 74
Glossary oF Accounting, Finance and Economic Terms Accounting – pages 1‐7 and 8 Finance – page 7 Economics – page 7 ACCOUNTING: http://www.alpineguild.com/glossary_of_important.htm Account ‐‐ a record of financial transactions; usually refers to a specific category or type, such as travel expense account or purchase account. Accountant ‐‐ a person who trained to prepare and maintain financial records. Accounting ‐‐ a system for keeping score in business, using dollars. Accounti
Words: 24103 - Pages: 97
duties in the accounts and the finance department. The audit staff consists of well experienced and trained personnel. The CEO is aware of the importance of risk assessment procedures and is in the process of establishing of risk assessment team. The description shows adequate separation within the CBIS function, i.e. systems analysis and programming are separate from data processing and control. There are areas where the reporting procedures are very strong and carried out very efficiently. The
Words: 3316 - Pages: 14
Chapter 1 The Role of the Public Accountant True/False Questions 1. Independent audits of today place more emphasis on sampling for compliance with laws and regulations than the audits of the 19th century. Answer: True Difficulty: Medium 2. The American Institute of Certified Public Accountants issues CPA certificates and permits CPAs to practice. Answer: False Difficulty: Medium 3. A company is either audited by the GAO or internal auditors, but not both. Answer: False Difficulty: Easy 4. The SEC
Words: 2367 - Pages: 10
aspects of this transaction that you would like to have explained, and will also give you an idea of what the professional responsibilities are for the CPA’s involved. In addition, I will detail the methodology used to determine deferred taxes, the procedures for reporting accounting changes and error corrections, and the rationale behind establishing the subsidiary as a corporation. At the root of the advantage of using Certified Public Accountants in our examinations are their reputation, independence
Words: 1186 - Pages: 5
or topics on an examination. Auditing and Attestation (AUD) The Auditing and Attestation section tests knowledge and understanding of the following professional standards: Auditing standards promulgated in the United States of America (related to audits of an “Issuer” (a public company), a “Nonissuer” (an entity that is not a public company),
Words: 7341 - Pages: 30
Introduction My role at Smackey Dog Food is to apply the audit procedures and objectives to this company. A cursory examination reveals that there are many areas where Smackey's accounting practices can be improved. At times, there are faults with the techniques that are being used. At other times, there are faults just as much with the control systems. Inadequate control systems are often the cause of problems with a company's accounting practices, and ensuring that proper controls are in
Words: 2156 - Pages: 9
Assignment 2 AU2 Advanced External Auditing Question 2 a) Three specific business strategies that explain eBay’s decision to offer good for sale at fixed prices: 1. Expand into New Markets: With the shrinking market of auction bidders on eBay and a growing market of fixed price buyers, customers may not prefer to go in the direction of purchasing goods in an online auction. Since, in an online auction the customer has to wait till the end of the auction to see which buyer
Words: 4140 - Pages: 17
CHAPTER 9 Audit Sampling Review Questions 9-1 Nonstatistical sampling is an audit sampling technique in which the risk of sampling error is estimated by the auditors using professional judgment rather than by the laws of probability. Statistical sampling involves the quantification of the risk of sampling error through the use of mathematics and laws of probability. 9-2 Sampling risk is the possibility that the auditors will make an erroneous decision based on
Words: 9134 - Pages: 37
financial records. Accountants and Auditors prepare and assess financial records to declare the fairness and accuracy of a company’s financial records. Auditors perform what is known as an audit which is a close inspection of a company’s financial records to ensure they are correct; during a financial audit all financial records of a company including ledgers, internal financial reports, official published reports, accounts payable, and accounts receivable will be examined. This type of inspection
Words: 2683 - Pages: 11
