Answer for Question 1 Based on the case study‚ the proper strategy which able to overcome the current problems from OnTarget company is using centralized authority. According to Robert Monczka‚ the centralized authority exists when the decision-making process is the responsibility of a single person. The single person will be duty bound by the top management of the company and will be accountable for proper performance of any purchasing activities. (Monczka‚ 2005) Centralized authority able to
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Background of the Study Consumer buying behavior can be defined as the way in which consumers or buyers of goods and services tend to react or behave when purchasing products that they like. Buyers tend to exhibit different types of buying behavior when they are in the process of purchasing goods and services and the behaviors witnessed are influenced by the type of product he/she wants to buy. Consumer buying behavior involves a long process where the buyer has to identify the product‚ study well
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During an operational engagement‚ an internal auditor observes a large number of above-ground storage containers and a large amount of black emissions from a smokestack. The organization has an environmental safety department. The engagement is not designed to consider environmental concerns. The best course of action is to A. Make a note to consider environmental risk concerns when developing the engagement plan for the next year‚ but do not expand the scope of the existing engagement because
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BLG & Co.‚ CPAs 306 3rd Flr. MSA Second St.‚ Ayala-Alabang‚ Muntinlupa City Philippines SUBSTANTIVE TESTS – PURCHASE/ACQUISITION TRANSACTIONS ASSERTIONS OBJECTIVE PROCEDURES I. Existence Or Occurrence II. Rights and Obligations To determine that recorded purchases are for items that were acquired. To determine that purchases are the entity’s acquisitions and liabilities. For a sample of purchase transactions recorded in the purchases journal‚ trace vouchers to authorized purchase
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Murabaha Documentation & Practical Issues There are a number of documents involved in a Murabaha financing transaction. The most essential of these documents are: * Master Murabaha Financing Agreement * Agency Agreement * Order Form / Draw Down Notice * Declaration * Purchase Evidences * Demand Promissory Note * Payment Schedule Master Murabaha Financing Agreement (MMFA) * Its an agreement between the client and the Bank whereby the client agrees to
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Expenditure Cycle Introduction Definition: recurring set of business activities & related info-processing operations‚ associated with procuring goods & services from suppliers (primary external info exchange) & cash disbursements Objectives: minimise total cost of acquiring/maintaining inventory‚ supplies & services Goals of Expenditure Cycle • Purchase from reliable vendors (service-focused) • Purchase high quality items (quality-focused) • Obtain best possible prices for
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Dashman Case-Study Summary of the Case Study: The Dashman Company is large concern having 20 plants located in the central part of US‚ which makes many type of equipment for the armed forces. All 20 plants were working as a separate independent unit. In an effort to avoid the anticipated shortfall of certain essential raw materials required by the plants‚ Mr. Post was appointed as VP-Purchase to coordinate the purchasing activity by the President‚ Mr. Manson. Mr. Larson who was very experienced
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To: Zhichao Wang’s Laptops Shop From: Yeyang Jia Subject: NetSuite Application Control Testing Weakness #1. 1. Weakness being tested: Create a check to pay a vendor an amount that is higher than the accounts payable due the vendor. 2. Test Setup: a. I created a purchase order‚ which is purchasing 100 keyboards from Al Systems Ltd with purchase price of $45.00. So‚ the total amount owe the vendor in this purchase transaction is $4‚500. Then‚ I confirmed that the company has received
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Implementation Plan Implementation Premier Network Solutions will be constructing an entire network infrastructure for the company. This documentation will show the methods and processes used to implement the strategies and procedures. Schedule Purpose: Premier Technology will be developing the network. The implementation Projected start time will be Nov 12‚ 2012‚ Jan 3‚ 2013 will be the projected finish time. Cabling Premier Technology will begin installation and setup as soon as
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Vendor Selection Process The vendor selection process can be a very complicated and emotional undertaking if you don’t know how to approach it from the very start. Lack of effort‚ poor planning or taking shortcuts will serious jeopardize the success of the vendor selection process. When you opt for the lowest bidder without undertaking a complete vendor selection process and you do not have the right vendor‚ you will soon experience bad customer support‚ poor quality of missed delivery dates. Going
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