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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Executive Summary An on-site fitness center for Texas Instruments will prove to be advantageous to the company as well as its employees. Studies show that employees who exercise regularly are more productive‚ efficient‚ and pleasant to work with. Texas Instruments has the capability to increase employee retention‚ recruitment‚ and revenues by investing in a fitness center through Health Fitness Corporation. Health Fitness Corporation provides on-site fitness centers for numerous prestigious companies
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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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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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C.) Variable Factors in Fitness Center There are five areas of interest that would be play an essential role in the variable factors for a fitness center. The first interest would include utilities. Lighting and water plays a crucial role in maintaining the livelihood for a fitness center. The fitness center uses water to provide hot or cold showers to their members after workout‚ water fountains are available on almost every hall‚ and not to mention swimming pools and hot tubs that uses large
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Fitness Center Report With the launch of AJ’s Fitness and as their current MBA intern‚ I was tasked with analyzing the results of a recent survey that was given the fitness center’s current members. Of the 1‚833 members surveyed‚ we receive 133 usable responses. The following report details an analysis of the results from the membership survey‚ as well as some suggested changes that can be implemented by new management to increase overall membership satisfaction. Overall Satisfaction &
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Task Investigation Essay on Internal Control Submit your completed Task to your teacher at the first lesson of Term 3 The Scenario Kay Slater‚ an experienced surfie and owner of Surfies and Boardies‚ has employed nine staff in her business to make and sell surf boards‚ and surfing equipment and assist with administration. She has employed her staff as follows: * Five of the employees work in the factory where valuable equipment is stored and used. Of these‚ one is responsible for the inventory
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Executive Summary 1.0 Executive Summary Corporate Fitness will serve Seattle-area businesses‚ helping them to become more productive‚ while lowering their overall costs with innovative wellness programs and strategies. Our business is based on two simple facts: 1. Healthy employees are more productive than chronically ill employees. 2. It costs less to prevent injuries or illnesses than to treat them after they occur. At Corporate Fitness (CF)‚ we tie worker productivity directly to the health
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4. Organisation background Inkwell Limited is a manufacturer of re-cycle inkjet and laser toner printer cartridges. Inkwell Limited printer cartridge is widely applicable. The main commercial focus is on strong retail market that demand cheaper and greener products Inkwell Ltd has a couple of small main suppliers that produce 4.1 Inkwell Limited is a limited company‚ established in 2003. The head office and
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appropriations. The Centers for Disease Control and Prevention is example of a government run agency. The Centers for Disease Control and Prevention is one of the most important health agencies in the world. The Centers for Disease Control and Prevention is a federal government run agency that relies on stakeholders and partners to offer important insight in planning and evaluating‚ and contributions in helping Americans live long‚ healthy‚ and satisfying lives. Centers for Disease Control and Prevention
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