II. Accounting and Auditing in the Philippines T his chapter presents an overview of Philippine accounting and auditing arrangements. It provides context for the following chapters on professional infrastructure‚ accounting and auditing standards‚ accounting and auditing training‚ and government budgeting and accounting arrangements. The chapter comprises eight sections‚ as follows: Part One: Accounting 1 – Introduction – identifies historical factors that have influenced accounting arrangements
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(Components of internal control) The chapter identified five components of internal control. Listed below are specific control policies and procedures prescribed by Suntron Company. 1. Management gives careful consideration to the requisite knowledge and skills personnel need at all levels of the organization. Control environment. Planning‚ executing‚ controlling‚ and monitoring and entity’s activity is what is used to develop an overall framework for an entity to meet its objectives. 2
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Nature of Auditing and the Public Accounting Profession 1. Auditing neither creates goods nor adds utility to existing goods and therefore does not add value to business. Auditing exists only because it has been legally mandated. Auditing exists because it is needed by the company. It is beneficial to users who need assurance if their financial statements reflect economic conditions that occurred in a period. Without reliable information‚ companies might make less effective decisions which
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Humanity is undergoing in the post-Cold War era an economic and social crisis of unprecedented scale leading to the rapid impoverishment of large sectors of the World population. National economies are collapsing‚ unemployment is rampant. Local level famines have erupted in Sub-Saharan Africa‚ South Asia and parts of Latin America. This "globalization of poverty" --which has largely reversed the achievements of post-war decolonization-- was initiated in the Third World coinciding with the debt crisis
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Project about: the effect of political economy of the state in global business. Submitted by: Amira Elwelely Submitted to: DR.Saed ghalap International Political Economy (IPE) is the rapidly developing social science field of study that attempts to understand international and global problems using an eclectic interdisciplinary array of analytical tools and theoretical perspectives. IPE is a field that thrives on the process that Joseph Schumpeter called "creative destruction." The growing
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Why Homeschooling Is Not for Everyone Is it a bad thing that homeschooled kids may be different than public school kids? Some people say that homeschooled children are smart and polite. On the other hand‚ there is a different opinion that home-educated children are lazy‚ old-fashioned‚ naïve and do not have a good education. Homeschooling is the education of children at home by parents who have numerous reasons for it; for example‚ better test results‚ religious reasons‚ and living in
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Apart from its various advantages‚ Cinema is not free from its evil effects. Film artistry is‚ unfortunately‚ compelled to compromise with people’s popular taste and appeal to their lower instincts. Too many films dealing with sex problems and with the ways of the criminals are now shown‚ f These are apt to affect public morality. The substandard catering of music I and recreation is likely to injure public taste and outlook and is not ultimately good for the art. The Cinema has far reaching
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Sections 4.4‚ 4.5‚ and 4.6 are not included in the Demo file 4.1 General requirements 4.1 Is the EMS established‚ documented‚ implemented‚ maintained‚ and continually improved in accordance with ISO 14001 requirements? This catch-all question can only be answered at the end of the whole audit. Typically‚ if there is a noncompliance here‚ there must be other major noncompliances somewhere else in the system. If so‚ reference them in the ‘Auditor Notes’ field. 4.1 Is the scope of the EMS
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Now days people become aware of decreasing in the travel expenses of the international travelling and this has positive impact on the tourism industry‚it is a trend without drawbacks.Both positive and negative impact of the increasing tourism activity will be discussed in this essay. Tourism industry is playing a important part in different countries in term of social economy.Firstly‚a host countries will benefit in term of currency exchange rate thus has a positive impact on the locals whether
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Smoking is a form of addiction depending on the sedative effect of nicotine on the brain and nervous system. There are lots of reasons why people start smoking. The main reasons are peer group pressure‚ feeling left out while friends’ smoke and trying to fit in with the crowd‚ stress at home‚ work‚ school‚ trying to attract attention‚ act cool or become popular‚ and calm down their nerves. Firstly‚ smoking impacts almost all aspects of a person’s health. Smoking causes diseases like asthma‚ and
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