utline each internal control violation‚ which includes identifying each violation and identifying responsible party(-ies)‚ respectively. - Establishment of Responsibilities - Utilizing separation of duties for cash handling‚ which can be achieved by assigning different individuals to duties such as making payments‚ maintaining documentation‚ preparing deposits‚ reconciling records‚ etc. An essential characteristic of internal control is the assignment of responsibility to specific individuals.
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A. Identify internal control principles 1.The first internal control principal is an applied establishment of responsibility. Only one designated person is authorized to handle the tickets. One roll is designated per shift and the manager locks the roll in the cash register. Also designating only one person like a cashier to handle cash and different individuals should be assigned the duties of receiving cash‚ recording cash‚ and custody of cash. 2.The next principal is the segregation of duties
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Pepsi Internal Control Procedures Pam Sharratt XACC/210 April 10‚ 2013 Cito Vanegas Pepsi Internal Control Procedures The Pepsi Co. has many shareholders that they have to answer too when certain things just do not seem to add up. They have different teams of management to oversee every area of operation and to make sure the company is running effectively and gaining the best profit possible. Like other companies over the last few years they have had their ups and downs in certain areas.
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The Stock Market Reaction to Oil Price Changes Sridhar Gogineni Division of Finance Michael F. Price College of Business University of Oklahoma Norman‚ OK 73019-0450 March 13‚ 2008 Abstract I explore the reaction of the stock market as a whole and of different industries to daily oil price changes. I find that the direction and magnitude of the market‟s reaction to oil price changes depend on the magnitude of the price changes. Oil price changes most likely caused by supply shocks have a
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Fraud Prevention and Detection August 2009 Fraud Prevention and Detection for Credit and Debit Card Transactions Richard Collard Senior Business Lead and SME - Market Development ILOG‚ Software Sales‚ IBM Sales and Distribution Fraud Prevention and Detection Page 2 Contents Preface 2 Preface Over the past 20 years‚ financial institutions‚ governments‚ insurers and retailers have seen an explosion in the amount and types of fraud perpetrated against them. In the United Kingdom
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Internal Controls XACC 280 By University of Phoenix Professor This paper will discuss the internal controls and how they work in business. I will shed some light on the organizations financial and business policies‚ process and procedures. The purpose of these internal controls is to protect the company’s resources against fraud‚ misappropriate funds and most important waste. A company can spend quite a
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Diseases that are caused by the lack of some particular nutrient in a person’s diet are called deficiency diseases. Nutritional diseases are diseases in humans that are directly or indirectly caused by a lack of essential nutrients in the diet. Nutritional diseases are commonly associated with chronic malnutrition. Additionally‚ conditions such as obesity from overeating can also cause‚ or contribute to‚ serious health problems. Excessive intake of some nutrients can also cause acute poisoning 1
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DEFICIENCIES IN WRITING 1 Are Writing Deficiencies Creating a Lost Generation of Business Writers? Diane D. Arrington Grand Canyon University: UNV-504 Introduction to Graduate Studs in the College of Business July 8‚ 2015 DEFICIENCIES IN WRITING 2 It has become evident that the writing skills of business employees are considered inadequate. This problem has caused tangible as well as intangible costs. The tangible cost of employees’ deficient writing
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The Features of a Joint Stock Company When it comes to a joint stock company‚ one among the various types of business organizations which are instrumental towards the economic development in any country‚ the following are the various features: 1. Voluntary organization: A joint stock company is a voluntary organization or association of shareholders; 2. Legal person: It is a legal or an artificial person as a result of law. It has no physical existence; however‚ it functions as a separate
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What Are Nutritional Deficiencies? The recommended daily amount (RDA) of a nutrient is determined by how much the body needs to stay healthy. Nutrients can be obtained in a variety of ways—from eating a varied diet to taking vitamin supplements. A nutritional deficiency occurs when the body doesn’t absorb the necessary amount of a nutrient. Deficiencies can lead to a variety of health problems‚ such as problems of digestion‚ skin problems‚ stunted or defective bone growth‚ and even dementia. What
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