Assess the accuracy of the statement. INTERNAL AND EXTERNAL AUDITING Introduction by Emil Nacua Timely and Valid internal and external audits are a primary safeguard which prevents unethical financial behaviour within a business. Audits examine the past and present financial records as they are important to maintain accuracy for those who use the records as they are an aspect of control which is used by the business. This business report will assess the effectiveness of audits as a primary
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Find the Revenue Function: Let p be the price per hamburger and q be the number of hamburgers sold Revenue = (unit price) x (quantity sold) (40‚000‚ 1.00) (20‚000‚ 2.00) (q‚ p) y = mx+b slope = 1.00-2.00 = -1 40‚000-20‚000 20‚000 1.00 = (-1/20‚000)(40‚000) + b 1.00 = -2 + b +2 +2 3 = b y = (-1/20‚000)x + 3 p = (-1/20‚000)q +3 This is the demand equation Revenue = q((-1/20‚000)q + 3) Revenue(q) = (-1/20‚000)q^2 + 3q This is the revenue
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ARCHTYPES OF BUSINESS MODELS: LOOKING FOR PATTERNS BY: SALAU ADEDAMOLA ABSTRACT This research incorporated dynamic capability view into the field of business model and proposed an analytical archetype consisting of five interlocking propositions that helps executives as well as researchers gain new insights into the realm of business model competitiveness. The constructs of BM is at the forefront of current business strategy thinking and managers need more advanced models for understanding
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Ethical Dilemma: Two or more values you hold dear‚ or Personal value conflicts with organizational value Prescriptive (Normative) Principles→Focus on consequences (teleological ethics): Practical and already underlines business thinking. But difficult to evaluate all consequences‚ right of minorities can be sacrificed./Focus on duties‚ obligations‚ principles (deontological ethics): The means matter more than the ends‚ Decisions based on abstract universal principles such as honesty‚ fairness‚ rights
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9.19 Assertions Background information Existence or occurrence: -assets or liabilities of the entity exist at a given date and whether recorded transactions or events have occurred during the period Completeness: -transactions‚ events and accounts that should be presented in the financial statement are included Cut-off -all transactions‚ events and accounts have been recorded in the correct period Right and obligations: -assests represent rights of the entity and liabilities are the obligations
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in Latvian schools nobody wears them. 2. Black schools and white schools still exist‚ as well as schools on religion Q.2. Please give ONE example that shows that management is not the same everywhere around the world. 1. In China for example‚ business ppl don’t like to sign papers‚ they are more open for mutual trust‚ if u want to sign paper with them‚ they will think that u don’t trust them‚ but In Eu or Usa everything must be signed and written down to ensure that there won’t be any problems
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Solutions Manual to accompany Auditing: a practical approach by Jane Hamilton CHAPTER 1 Introduction and overview of auditing [pic] John Wiley & Sons Australia‚ Ltd 2010 Chapter 1 – Introduction and overview of auditing 1. What does ‘assurance’ mean in the financial reporting context? Who are the three parties relevant to an assurance engagement? An assurance engagement (or service) is defined as ‘an engagement in which an assurance
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Exam 5 Review (Final Exam) Dr. Bentley (Guest Lecture) TwoGether in Texas * Know what Twogether in Texas is * Trying to better marriage and stuff * Communication * Conflict resolution skills * Know the public cost of divorce * 30‚000 Chapter 12 & Lecture * Know the types of resources * Rewards * Punishments * Authority * Respect /love * Expertise * information * Know the difference in how men and women speak
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internal auditors should provide assurance and consulting on – the scope of internal auditing (governance‚ risk management and control processes). Standard 2100 is one such injunction – “The internal audit activity must evaluate and contribute to the improvement of governance‚ risk management‚ and control processes using a systematic and disciplined approach.” What are these processes that internal auditing has to evaluate and contribute to the improvement of? The best way to describe them
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Chapter 1 Auditing and Internal Control Review Questions 1. What is the purpose of an IT audit? Response: The purpose of an IT audit is to provide an independent assessment of some technology- or systems-related object‚ such as proper IT implementation‚ or controls over computer resources. Because most modern accounting information systems use IT‚ IT plays a significant role in a financial (external audit)‚ where the purpose is to determine the fairness and accuracy of the financial statements
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