Chapter 5: Internal Control over Financial Reporting 1. Internal control is a process designed to guarantee the achievement of the objectives of reliable financial reporting‚ compliance with laws and regulations and ineffective and inefficient operations. FALSE 2. Auditing standards require that the auditor exercise professional judgment and maintain professional skepticism throughout the planning and performance of the audit. TRUE 3. If internal controls are not enforced they are useless
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April 11‚ 2012 Marriot Corporation: The Cost of Capital Background: Marriot Corporation began in 1927 with J. Willard Marriot’s root beer stand. Over the next 60 years‚ the company grew into one of the leading lodging and food service companies in the United States. Marriot has three major lines of business: lodging‚ contract services‚ and restaurants. Lodging operations included 361 hotels‚ with over 100‚000 rooms that generated 41% of sales in 1987 and 51% of profits. Contract services
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fuel and noise emission by purchasing new Environmentally-friendly aircraft. (Sascha Mayer‚ 2007). If any delays due to climatic condition or technical quandary‚ then Ryan air Customer Service Desk (CSD) prompt refund is provided to customer. Weakness Employee relations: Ryan air’s relationship with employee is Fraught. Extra work load for Pilots. Also provide poor working condition for staff. For example: Banned from charging of mobile phones at work place. Ryan air has been involved in number
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Sherman v. Marriott Hotel Services‚ Inc. Facts: The plaintiff‚ Marcus Sherman‚ (African American Male) checked into Marriott Hotel on or about March 5 through March 7‚ 2003. During the plaintiff’s stay his room key was demagnetized. Plaintiff went to the front desk and inquired with a white male Marriott employee for a new room key. Marriott has a lock-out policy requiring guests to provide proper identification in order to receive a new key. Policy states guests are to be escorted by security
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FNSACC50A Implement & Maintain Internal Control Procedures ASSIGNMENT 1. Who is ultimately responsible for the corporate governance of an organisation? The Board of Directors 2. Who else plays a part in corporate governance? Shareholders‚ auditors and other stakeholders. 3. Who are the stakeholders? A person‚ group or organisation that has interest or concern in an organisation. 4. List the corporate governance requirements a company needs to adhere to: The company has an adequate
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Financial Decision Analysis~Marriott Corporation Case Study Executive Summary – Q5 – Hurdle Rate Analysis Hurdle rates‚ the weighted cost of capital that projected cash flows must exceed for initiatives to be considered‚ vary within Marriott Corporations due to their unique industry risk levels and capital structures. They use this number to determine which projects to accept‚ to adjust the rate at which the firm grows and as a measure for compensation within each business area‚ and as incentive
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The strengths and weakness of Adlerian Therapy Shane Wilson Rio Salado Collage Adlerian Therapy‚ which is based on the theory’s of Alfred Adler‚ points to the essence of normality as having a feeling of concern for others and places emphasis on social interests‚ the family dynamic‚ and ones influence based on early memories in life. Adler also placed emphasis on the order of one’s birth within the family such as whether one was the first‚ second‚ last‚ or only child born. His approach was centered
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The VRIO analysis is helpful in determining if a resource or capability leads to competitive advantage (Middleton‚ 2004). Resources/Capabilities Valuable? Rare? Costly to Imitate? Exploited by Organization Competitive Implications Strength or Weakness Key Account Management Initiative Yes Yes Yes Yes Sustained Competitive Advantage Strength and Sustainable Distinctive Competence Recruitment Process Yes Yes No No Temporary Competitive Advantage Strength and Distinctive Competence Brand Loyalty
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decide to take over the management of the farm on which they live. This simple animal fable contains many important insights about the predicaments of individuals in any given modern society. One of the themes central in the novel is the idea that weakness can be dominated by strength‚ fear‚ and trickery. Three of the episode from the story that is related to the theme is when Snowball got killed. When Snowball was blame for everything that happen and when Napoleon became friend with the humans‚
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can affect its operation.The business environment consists of the actors and forces that affect an organization’s ability to develop and maintain business with its targeted customers. These are the Micro Environment‚ the Macro environment and the internal environment.The micro-environment of an organization can best be understood as comprising all those other organizations and individuals who directly or indirectly affect the activities of the organization. The following key groups can be identified
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