| |UNIT TITLE |Unit 11: Financial Systems and Auditing | |ASSIGNMENT TITLE |Accounting and Management Control Systems | |ASSIGNMENT NO |1 of 2 | |SUBMISSION DEADLINE |Oct 26
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What is the mission of the organization ? To help end hunger in Eastern Massachusetts If it is a Nutrition/Food Program (i.e. Food Bank)‚ what need does it fulfill or address ? To provide healthy food choice to those seeking food assistance. Also to measure to nutrient quality of our inventory‚ provide nutrition education‚ and communicate of good nutrition to our donors and member agencies Who provides the organizations funding and/or operational resources ? They acquire food in many
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Theory Accounting Case 8.1 Simon Romario (023121023) Purwanto Gozali (02312132) Endah Puspitasari (023121065) 1. The article states that the US standard setter FASB requires companies to record a provision in relation to environmental cost of retiring assets (to reserve environmental liabilities) if its fair value could be reasonably estimated. How do you think companies would go about estimating such a provision? Estimation (or estimating) is the process of finding an estimate
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aligned goals. “Standards must be set for each department and individual position. This process is essential for the organization and for each employee” (Schwartz‚ 1999‚ p. 29). Most performance management systems provide this capability - but in this case the company chose Taleo because of the company ’s existing relationship with Taleo and the product ’s extremely easy to use interface. Since many of the workers in the mines only have occasional access to computers‚ they needed a system which required
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df Sig. (2-tailed) Mean Difference Std. Error Difference Lower Upper 9Profit Equal variances assumed 19.637 .000 1.254 31632 .210 5.881 4.690 -3.312 15.073 Equal variances not assumed 1.212 4882.059 .225 5.881 4.851 -3.629 15.390 Oneway Descriptives 9Profit N Mean Std. Deviation Std. Error 95% Confidence Interval for Mean Minimum Maximum Lower Bound Upper Bound 1 710 3.45 104.476 3.921 -4.24 11.15 -217 791 2 3650 58.49
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involved with contract‚ thus making the bank an innocent third party. The second defense is that Yost followed the proper auditing standards when conducting an audit. This means that if Yost were to find nothing‚ they would not be responsible. c. She will most likely win due to negligence. The company is responsible for implementing internal controls‚ and the president’s statement about the inventory count shows how it couldnt be her fault. First City National Bank is not going to win their suit for
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revenue growth as the previous fiscal year. It will take some time for the company to do better like before in the earlier years in sales growth. This increase however‚ does show improvement for the company as revenue growth hit a downward turn to 8% in the late 1990’s. For sales from 2002 to 2003‚ we are projecting another 13% increase because again we want to base the same revenue growth as the previous two fiscal years. Keeping the sales increase at a steady rate would still mean growth for
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Theresa Golding BA 418 – Auditing Dr. Charles Pineno April 25‚ 2010 PART 1: “Small Firms May Face Audit Music” (published in The Wall Street Journal on April 19‚ 2007) addresses the ending of the delay in applying portions of the Sarbanes-Oxley Act of 2002 to smaller companies. At the time of the article‚ some 6‚000 smaller public companies had yet to be required to “make an annual assessment of their internal financial-reporting controls with further review by the company’s outside auditor of
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1.26 Value of auditing Required: Would you obtain an audit for this company? Explain the reasons for your decision. Yes‚ audits exist because of regulatory mandate (required by government). There are three theories which propose reasons why demand for audits might exist without regulatory mandate: 1. Agency theory (The focus of the agency demand for auditing is more related to the stewardship role of accounting- which is more an examination of what has happened.) The separation of ownership
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Nature and Purpose of Auditing Content : • Definition and objectives of auditing • Types of audits • Development of auditing • Qualities of an auditor • Auditing process Objectives : Students should be able to : • Describe the definition and the objectives of auditing. • Distinguish between different types of audits. • Briefly describe the development of auditing. • List and explain
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