Internal Controls XACC/280 Christopher Stone 5.1.2013 Internal controls are an integral part of a business operation because of the extreme importance of assets. Assets are basically an economically valued item owned by an individual or corporation‚ which most often has a direct conversion rate to cash. Examples are cash‚ securities‚ accounts receivable‚ in-stock product‚ business equipment‚ real-estate‚ cars‚ and other valuable property. Assets are business resources which could lead
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EXPERIMENT 1 – HEAD LOSSES IN PIPES Introduction: In this experiment‚ the aim is to find the losses of water flow in a pipe system.There are two types of losses. First the major losses which is caused by the the frictional effect of pipe. Second one is the minor losses which is caused by the turning points(corners) of pipes. Apparatus: • • • • • • 90° mitter bend 90° elbow bend 90° large radius bend Sudden enlargement in pipe diameter Sudden contraction in pipe diameter A pump to supply water
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Behavioral Finance Article Presentation “Are Investors Reluctant to Realize Their Losses” Are Investors Reluctant to Realize Their Losses? * This article was written by Terrance Odean. * This article was published by “Journal of Finance” in 1998. Aim of the Study By writing this article Terrance Odean wants to examine the tendency to hold losers too long and sell winners too soon. This tendency has been labeled Shefrin and Statman as a “disposition effect.” Terrance
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Discuss the role of power in shaping the distribution of benefits and losses in consumer society. In the UK today‚ there are a large amount of supermarkets and other shops‚ often out of town‚ in which we are able to buy all that we could possibly need. This has led to shopping becoming a leisure activity for many people; something to be enjoyed in your spare time. This activity has led to social scientists to believe‚ we now live in a consumer society. (Hetherington‚ 2009) states ‘Shopping is
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limitations of the internal control system and also give the reader three examples of such limitations. Internal control procedures will be thoroughly discussed and how the procedures are actually executed. Signs and symptoms of an underdeveloped internal control system and the impact of a missing journal entry on a financial statement will be further reviewed. With everything‚ there can be bad or there can be good. In accounting‚ however‚ there has to be a consistent control system in order
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Internal Controls for Outflows ACC/544 July 9‚ 2012 Internal Controls for Outflows Internal control over outflows helps to prevent mistakes and detect fraud within the acquisition and expenditure cycle‚ including the payroll cycle. Errors found in financial statements occur most commonly because of improper recording of expenses or fraudulent capitalization of expenses. Fraud can occur in a company’s outflow because of weak internal controls. This proposal explains
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Briefly discuss in point form ways/methods to classify computers COMPUTER SYSTEMS Computers can be classified as general purpose or special purpose. General-purpose computers are used to perform a variety of applications and the most common in business while special purpose computers are used for specific or limited applications e.g. military or scientific research. Computers can be classified by size or by use Categories of Computer Systems (by size) (i) Microcomputers (ii) Minicomputers
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Snatch theft Nowadays‚ snatch theft is becoming a serious issue in our society. So many snatch thefts happen in our society. There have been many reports of snatch thefts which has given a great impact to the society. The snatch thefts are causing people fear. Snatch thefts should be prevented in order to make people able to live in a peaceful place. We should be alert to surrounding all the time to avoid from snatch theft. We should not bring too much money or wear expensive things when going out
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Some people believe that weapons must be accessible for all citizens so they can exercise their right to protect themselves‚ while others suggest it can cause a larger breakdown for the safety of the Mexican people. According to a report made by the Mexican government‚ a total of “7‚724 drug war-related deaths in 2009” resulted from the impartiality and the continuous violence generated by the exchange of guns with the United States. President Obama had previously declared that “90% of the weapons
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Approximately 15 million United States residents have their identities fraudulently used each year with financial losses totaling upwards of $50 billion ("Identity Theft"). By the time one has fallen victim‚ their identity has already been stolen. Does this not make you wonder if you are not already one of the 15 billion victims? Close to 100 million additional Americans have their personal identifying information placed at risk of identity theft each year when records maintained in government and
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