Internal Control and Risk Evaluation Since offering suggestions for Kudler earlier this month‚ the request has been received to analyze the risks involved. Suggestions included: improving functions of inventory‚ accounts receivable‚ accounts payable‚ and the payroll system with any company. When inventory is involved‚ it is important to maintain accurate records. This will be done for Kudler through automation‚ enhancement‚ and maintenance of the inventory. The risks involved in this change
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much time they spend studying‚ whether they get involved with campus organizations‚ and how they interact with their professors and peers. This year the researchers‚ based at Indiana University at Bloomington‚ also assessed how the economy was affecting students at a subset of the 546 American colleges that participated. The survey examined students’ employment‚ finding that among freshmen‚ nearly 20 percent worked on campuses‚ and about 30 percent worked elsewhere. For seniors‚ those proportions
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From: Mark Buchanan CC: Date: 11/22/2011 Re: Internal Control Evaluation Going Public: All publicly traded companies in the United States are required to maintain an adequate system of internal controls per the Sarbanes Oxley ACT of 2002 or SOX. Corporate executives and boards of directors must ensure that these controls are reliable and effective. In addition independent auditors must attest to the adequacy of the internal control system. Companies that fail to comply are subject to fines
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Elizabeth Knox March 10‚ 2014 How can Lei apply the four step control process outlined in the text to address the problem of misreporting hours? Solution: A Control system has four control steps and they are; Setting performance standards‚ Measuring performance‚ Comparing performance against the standards and determining deviations‚ Taking action to correct problems and reinforce successes. Lei can apply all the four control process in the following ways: Setting performance standards:
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Case Study 2: LJB Company’s Internal Controls Michael Del Toro FI504 - Accounting Abstract This paper shall focus on the criticalities involved in LJB’s transactions and how it may implement internal controls to the business processes while increasing the accountability of individuals involved in its ‘lean business process.’ With the advent of the Sarbanes-Oxley Act and its repercussions to the manner in which businesses must prevent fraud (both external and internal) to not misrepresent any of
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Kudler Fine Foods - Internal Control and Risk Evaluation Internal controls are an integral part of a company to provide a foundation for a safe‚ sound and successful organization. According to COSO‚ “the three primary objectives of an internal control system are to ensure efficient and effective operations‚ accurate financial reporting and compliance with laws and operations” (COSO‚ 1999). Proper internal control programs can help Kudler’s managers to make decisions‚ progress evaluations and mitigate
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How is pH affecting catalase activity? Hypothesis The catalase activity is assumed to be the most active in pH7. The higher or lower concentration away from the optimum pH of catalase‚ the slower the rate of activity is. Data Collection & Processing I collected the results of pH4‚ pH7‚ pH10 and pH13 after 2 minutes‚ and I repeated the experiment 3 times. Below is a table to show the results‚ their averages and standard deviations: | 1st time (sec) | 2nd time (sec) | 3rd time (sec)
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is product of socio-economic‚ psychological and environmental factors. For the last 20 years‚ education in Pakistan is growing as a profitable industry with prime objective of maximizing profit by delivering high quality education that produces well-educated‚ skilled‚ mannered students according to needs and requirements of the dynamically growing market. That’s why the scope of research is always there to find out what are the factors that affect the performance of the students. There are two
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MANAGEMENT CONTROL SYSTEM GROUP TASK SUMMARY Controls for Differentiated Strategies PRESENTED BY FINA ELWASISTE 0910534030 M. ALVICKY SATYWARDANA 1210534006 MUHAMMAD IRVAN ADHA 1210534022 INTERNATIONAL ACCCOUNTING 2014 Controls for Differentiated Strategies Focus of chapter is Contingency Theory: A specific structure and process for an organization depends upon various external and internal factors. Research studies have identified important factors that influence control system
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main types factors that affect the food selection of adolescents and how each of these factors affect their diets. As a result of examining various internet websites and books about this topic‚ this report describes the 4 types of factors that affect food selection and the factors that influence the food selection of teenagers the most. Consuming food is vital for adolescents since they aren’t fully developed yet‚ and what they eat is influenced by various factors. The main types of factors are psychological
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