a. Both Ford and Toyota management comment on the fact that internal control over financial reporting has “inherent limitations.” What are those inherent limitations? Inherent limitations of internal control over financial reporting include things like fraud‚ human error‚ overriding of controls. Internal controls‚ no matter how big or small the company‚ can only assure that they provide “reasonable assurance” that the objectives of the internal control system and being achieved. b. Locate the
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Part A Both Marx and Plato’s utopias offer a vision of a society where citizens are not relegated to certain class roles just because of the level of wealth into which they are born. Their visions lead‚ however‚ in very different directions. Compare Marx and Plato’s notion of equality as laid out and practiced in their utopias. MARX- According to Marx humanity evidences two species characteristics: the capacity for harmonious society with others and the capacity for free‚ conscious and universal
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One day Tanemahuta was strolling in the forest when he saw that his children were starting to get sick because bugs were eating them. So‚ he asked his brother Tanehokahoka for help. Tanehokahoka called all of his children the birds of the sky together. Tanemahuta told the birds that someone was eating his children. He also said that one of the birds needed to come down so that his children could be saved. So Tanehokahoka asked Tui “ E’tui will you come down from the trees”. Tui looked up at the sun
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Chapter 2 Economics Problem Production Possibility Frontier (PPF) -boundary between those combination you chose to produce - there is a limited about of production capabilities -curve/ boundary for production possibility - the points inside curve are attainable -all points outside ppf are unattainable Production Efficiency -using resources to maximum capacity -efficiency means that if you increase production of pizza means you must give up cola (only way—no extra resources to use)
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and work with people. 3. Technical Skills A technical skill is the ability to perform the given job. Technical skills help the managers to use different machines and tools. It also helps them to use various procedures and techniques. The low-level managers require more technical skills. This is because they are incharge of the actual operations. Apart from Prof. Daniel Katz’s three managerial skills‚ a manager also needs (requires) following additional managerial skills. 4. Communication
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Managerial Roles Managers must wear many different hats in formulating and implementing task activities related to their positions. In an attempt to understand the diversity of hats managers must wear‚ Henry Mintzberg examined managerial activities on a daily basis. His study enabled him to identify ten different but‚ coordinated sets of behavior‚ or roles‚ that manager assume. These ten roles can be separated into three general groupings: interpersonal roles‚ informational roles‚ and decisional
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Week Two Read Me First MANAGERIAL BUDGETING Introduction This week covers the various cost descriptors such as fixed‚ variable‚ direct‚ indirect and the budget cycle. We will discuss applying cost-benefit analysis to an organizational situation and how it is used at different levels of public budgeting‚ governmental‚ and non-profit accounting. We will discuss line item budgeting‚ program budgeting‚ and performance budgeting This Week in Relation to the Course In the first week we
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Homework II – Managerial Economics – Fall 2011 Each question is worth 1 point. 1. A call provision gives bondholders the right to demand‚ or "call for‚" repayment of a bond. Typically‚ calls are exercised if interest rates rise‚ because when rates rise the bondholder can get the principal amount back and reinvest it elsewhere at higher rates a. True b. False 2. Sinking funds are devices used to force companies to retire bonds on a scheduled basis prior to their maturity.
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Chapter 3 of the book‚ "Worldly Philosophers" is mainly focused on Adam Smith and the "world" he belonged in. It starts off with the talk of a new vision‚ a remarkable vision that was formulated by no other than the Father of Modern Economics‚ Dr. Adam Smith. The talk of his vision was followed not only by a short biography of the renowned economist but of also brief narratives of his "absences of mind". Adam Smith was born on 1723 in Kirkcaldy‚ County Fife‚ Scotland. He was a moral philosopher
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26 year-old Thomas was driving his 700 HP Lamborghini Adventador LP 700-4 down a windy road going about 150 mph during the middle of the night. Thomas worked late at a hospital so it was usual for him to arrive home late. While driving around a blind corner‚ he sees a squirrel‚ sitting on his side of the road. He is driving way too fast too slow down now but tries to swerve to avoid the small squirrel and goes off the edge of a steep hill and rolls his new Lambo. The next morning he wakes up
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