Chapter 7 – Internal control Internal control – steps taken by business to prevent fraud – misappropriation of assets and fraudulent financial reporting‚ COSO defines IC as means to an end Achievements of objectives in the area of financial reporting‚ operations‚ compliance with law and regulations Foreign corrupt practices act: Transactions authorized with the knowledge of and authorization of management Means of achieving internal control – preventive control – prevents fraud ex: segregation
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Generally‚ every organization’s performance could be enhanced if they have a sound internal control system. Internal control sys has two subcategories: A) Control environment B) Control procedures and policies @ control activities Control environment is abt attitude of board n mgt‚ whether they have integrity(honesty) and value the importance of running a sound internal control system. So‚ if their attitude is good‚ they will raise awareness and foster good attitude among ppl in the org
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can get happiness out of achievements and they love challenges. ENTJs don’t show much emotion. ENTJs can be ruthless and make up only three present of the population. ENTJ STRENGTHS AND WEAKNESSES ENTJs have much strength that can be extremely helpful in the workplace‚ but ENTJs strong personality can also be a weakness. Strengths • Efficient • Energetic • Confident • Strong-Willed • Strategic Thinkers • Charismatic • Inspiring Weakness • Stubborn • Dominant • Intolerant • Impatient • Arrogant
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Internal & Managerial Control “Internal (Management) Control is the set of accounting & administrative controls and practices that help ensure that approved and appropriate decisions are made in an organization” * in other words‚ to make sure that the right thing happens and the wrong thing does not happen‚ either purposely or accidentally Why Internal Control? 1. To safeguard the assets against waste‚ loss & misuse 2. Check the accuracy and reliability of accounting data
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Strengths: Sales in convenience stores and the food service segment remained strong because of the Company’s well-established presence in the single-serving snack market. Sales of both potato and nacho chips increased‚ 4 warehouses replaced with cross-docking systems and reduced inventory levels by ASFC by approx.. 10% Anwar Ayoub successfully reduced inefficiencies in the manufacturing processes by lengthening the production runs. This reduced the cost of sales by approximately 7%. Weakness:
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Similar to other students‚ each of my five strengths has a significant influence on my life at Grace as well as my studies. First of all‚ being an achiever clearly empowers me to pursue my dream of becoming a teacher. A few of the characteristics of an achiever are great stamina‚ productive‚ and a hard worker; these will definitely benefit me in the coming years. Also‚ this strength will aid me in my goal of attaining good grades during my college time. No matter what‚ I always put my best effort
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became a very well known historian and biographer to the roman world. Although Suetonius had many great books of worth‚ the only one available to us today is The Twelve Caesars. In this essay an effort will be made to discuss the literary strengths and weaknesses of Suetonius in his book‚ The Twelve Caesars. Suetonius is told to be one of the greatest and most interesting historians of all time in the world today. He was one of the best biographers to the date‚ but Suetonius’s work did not have
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be Thane of Fife but also head of the military in Scotland on top of that. The support from the English army to overthrow Macbeth was not short term as it was supposed to be but continued for the time being as we regain control and keep order over Scotland until we have the strength and men to hold the cities on our own. I have begun to recruit more guards and heighten taxes until we have enough money to rebuild and restore the former glory of Scotland. This situation is due to the abuse of Macbeth’s
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The curriculum that I have chosen is the K-12 Physical Education curriculum of a school in the United States. The strengths and weaknesses of the curriculum were assessed and are explained below. Besides this‚ recommendations are also provided for improving the physical education curriculum of the school. Strengths and weaknesses of the school physical education program The school-community environment was examined and the quality of the environment was considered to be moderately strong. The
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Pattern remains amongst the most popular systems to assess these heroic individuals‚ it does in fact have its limitations. As the scoring system was essentially designed in an effort to discredit the historicity of Jesus Christ‚ there are many weaknesses within the system when interpreting
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