330 : Safeguarding of Assets. 340 : Economical and Efficient Use of Resources. 350 : Accomplishment of Established Objectives and Goals for Operations or Programs 330 Safeguarding of Assets -- Internal auditors should review the means of safeguarding assets and‚ as appropriate‚ verify the existence of such assets Safeguarding of assets is those policies and procedures that "provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition‚ use or disposition
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estimate demand fluctuations to tailor vacation packages‚ seasonal discounts‚ for operations service resource plans to synchronize the flow of services‚ materials and budgetary cash flows. Internal information systems are used to model resource allocations in supply chains‚ human resources‚ developing action plans for unexpected increase or decreases in demand. Accounting and finance set operational budgets relative to demand forecasts‚ supply chain requirements to design a planning strategy to best
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software installed on them‚ are [tangible] resources of the business‚ and thus purchasing these laptop computers should be considered a form of investment. Handing out these computers to sales people should be considered a strategy for Resource Allocation and Management. It may be true that giving out a laptop computer to someone may temporary lift up his personal spirit and increase productivity for a short while‚ but the result in the long run is something managers need to consider. Failure to
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Training provides workers with skills needed in the workplace. However‚ many organizations have dynamic environments in which change is the norm. How can training requirements be identified when job duties are a moving target? There are three ways to approach training in dynamic and rapidly changing environments. First‚ the company can focus on those aspects of the job that are not changing; usually not everything can change all the time. Second‚ the training department can focus on becoming a rapid
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METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY Management Letter June 30‚ 2004 KPMG LLP 1900 Nashville City Center 511 Union Street Nashville‚ TN 37219-1735 October 31‚ 2004 The Honorable Mayor and Members of Council The Metropolitan Government of Nashville and Davidson County Nashville‚ Tennessee Ladies and Gentlemen: We have audited the financial statements of the governmental activities‚ the business-type activities‚ the aggregate discretely presented component units‚ each
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Substantive Procedures - Class of Transactions SALES AND SALES RETURN Occurrence Compare Sales of this year with Sales of last year as well as Analytical Procedures (for with budgeted and Industry average. Investigate unusual Overstatement) difference. Completeness (for Compare G.P. Ratio of this year with last year as well as budgeted and Industry average. Investigate unusual difference. Understatement) Review a reconciliation of Inventory (opening
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Allocation of Artificial and Transplantable Organs Everyday many Americans and others across the world are in need of artificial organs‚ which is are man-made devices that are implanted into a person to replace their own natural organ and to perform the same functions as that natural organ would. The ability of this to succeed has been one of the biggest achievements in medicine and still continues to save the lives of people everywhere. However‚ this subject also brings up a lot of controversy
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indirectly acquires a majority (over 50 percent) of its outstanding voting stock. 2 Amounts allocated to identifiable assets and liabilities in excess of their recorded amounts on the books of the subsidiary are not recorded separately by the parent. Instead‚ the parent company records the purchase price of the interest acquired in an investment account. The allocation to identifiable asset and liability accounts is made through working paper entries when the parent and subsidiary financial statements
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and air‚ as well as a living organism such as a fish‚ or it may exist in an alternate form which must be processed to obtain the resource such as metal ores‚ oil‚ and most forms of energy. There is much debate worldwide over natural resource allocations‚ this is partly due to increasing scarcity (depletion of resources) but also because the exportation of natural resources is the basis for many economies (particularly for developed nations such as Australia). Some natural resources such as sunlight
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ACCOUNTING 260 IMPAIRMENT QUIZ QUESTIONS 1. When should an entity conduct an impairment test? (2 Marks) Assets that are consider to have uncertain carrying amounts must be tested every year for impairment. Goodwill acquired in a business combination Intangible assets with an indefinite useful life Intangibles not yet ready for use Impairment testing of all other assets is required only if there is an indication that they might be impaired due to events such as the economic and
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