Case Study 2-Internal Controls 2014 ACCT 504 Table of Contents I) Introduction II) Internal Control Requirements-Sarbanes/Oxley Act III) Internal Controls-Strengths IV) Internal Controls-Opportunities for Improvement Introduction It has come to the attention of the president of LJB Company that an evaluation is needed to determine the reliability and level of compliance of the company’s
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for a company to benefit from assessing their control procedures. Internal controls are operating practices that are established to provide reasonable assurance that specific objectives will be achieved and every employee in the organization is responsible for internal controls. Implementing internal controls will help your business reach its performance and profitability targets‚ and most importantly prevent loss of resources. Internal Controls help to ensure reliable financial reporting‚ as
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Should Australia day be changed? Introduction: Most Australians celebrate Australia Day as the day Australia was founded. In contrast‚ Aboriginal people mourn their history and call it ‘Invasion Day’. My Three Arguments: Fairness/Justice/Equality because its fair for aboriginal people. Rebuttal: The most common refrain against this is‚ ‘It’s time to move on’. Here’s the problem with that statement. If you apply the same logic to non-Aboriginal Australia‚ then we should stop commemorating Anzac
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CHAPTER 3 SYSTEMS DEVELOPMENT AND DOCUMENTATION TECHNIQUES SUGGESTED ANSWERS TO DISCUSSION QUESTIONS 3.1 Data Flows: merchandise‚ payment‚ cash and register tape Date Source: customer Processes: capture sales and payment‚ give cash and register tape to manager Storage: sales file (register tape)‚ cash register 3.2 It is usually not sufficient to use just one documentation tool. Every tool documents a uniquely important aspect of a given information system. For example‚ system
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St. Philip’s Church Saint Philip the Apostle Church was established in the year 1927 at Pasadena‚ California. The architectural designs of the church have several influences from different era’s such as: Romans‚ Late Antiquity‚ Pantheon’s‚ Early Medieval Europe‚ Early Christian Architecture‚ and the Romanesque era. The church itself is a marvelous architectural building. The front side of the building has a circular small stain glass art on top. It has one huge arch and three small ones as an
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Checklist for Evaluating Internal Controls ACC 544 CHECKLIST FOR EVALUATING INTERNAL CONTROLS Introduction “In response to the number of major corporate accounting scandals rocking the financial world (e.g.‚ Enron‚ WorldCom‚ Xerox‚ KMart‚ etc.)‚ on July 30‚ 2002‚ Congress passed the most wide-sweeping financial reporting legislation since the 1930s (when it established the Securities and Exchange Commission). The Sarbanes-Oxley Act is intended to strengthen corporate
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Internal Cash Control Iasia Goodson ACC/220 June 27‚ 2010 Jaclyn Strauss Internal Cash Control The weaknesses in the scenario E4-5 are huge. The first one is the fact that the company checks are not prenumbered‚ how will you keep track of what check was written and what it was written for. Another weakness would be that the purchasing agent and the treasurer are authorized to issue checks that are kept in an unlocked file cabinet. There is so much room for theft here; as well
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Tanner Wiley Sociology Discussion 13 4/10/17 What is the sect–church cycle? How can this help us understand social change? Churches are religious bodies in which they tend to have low tension within their environments. Sects are religious bodies in which is opposite to churches and have relatively high tension within their environments and the people within. The sect-church cycle is basically how almost all new religious bodies begin as a sect or similar to it. And when/if they are successful in
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Case 1 (C & C Grocery) The mission statement for C & C Grocery is to provide an abundance of quality meats‚ produce and dry goods to customers at a convenient location for the most reasonable prices around with a smile and “a satisfied customer is a happy customer” attitude. This statement would afford the brothers the chance to branch out to other communities and open more stores and ensure they are as successful as the original store. By having over 200 stores by 1997 and with the employees
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Assesment 1 - What is youth policy and how does it influence the work of youth workers? By Ciara Davis Youth policy is a vital aspect of Australian society‚ and is constantly being re-written and altered. Policy is defined by the Oxford dictionary as “… A course or principle of action adopted or proposed by an organization or individual”. The term "youth" applies to young people roughly between the ages of 12 and 25 who are beginning‚ amidst‚ or towards the end of adolescence (Children and Young
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