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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Control mechanisms are important to every organization. Without them‚ it would be difficult to determine whether or not the planning‚ organizing and leading functions of management are effective and productive for the company. Although some mechanisms are used widely throughout many organizations and companies‚ some mechanisms are tailored to fit a specific organization. Management must determine the most appropriate control mechanisms for their company. In this paper‚ we provide a brief description
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Q 1: What is Money Market? What are the important functions performed by it? Ans. A.MEANING OF MONEY MARKET:- A money market is a market for borrowing and lending of short-term funds. It deals in funds and financial instruments having a maturity period of one day to one year. It is a mechanism through which short-term funds are loaned or borrowed and through which a large part of financial transactions of a particular country or of the world are cleared. It is different from stock market. It
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"Money Hungry" by Sharon G. Flake. The following book is about a thirteen year old girl named Raspberry Hill and her mother. Raspberry is known to be obsessed with money and will do almost anything to get it. Unfortunately‚ it’s not a rumor‚ but it is true for one reason. Raspberry and her mother use to be homeless‚ and when they finally got a place in the projects‚ she promised herself she would never go back to being homeless again. She starts to make money the best she can‚ saving and never spending
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qualities-demands and is money an effective motivator at work to make each of them to become an “outstanding” employee. Managers of a company can apply a lot of effort to make the working place of their company look attractive for professional and skillful employees. It is not enough just to pay the salary now. Money nowadays is not a factor that can make the employee work at his full capacity or even continue working at home. It is as simple as that. A person works in a company only because of money‚ or in other
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Value of Money Extra Problem Set 1 1. You are planning to retire in twenty years. You ’ll live ten years after retirement. You want to be able to draw out of your savings at the rate of $10‚000 per year. How much would you have to pay in equal annual deposits until retirement to meet your objectives? Assume interest remains at 9%. [$1254] 2. You can deposit $4000 per year into an account that pays 12% interest. If you deposit such amounts for 15 years and start drawing money out of
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you about money. Is it the root of all evil? What is money and what is evil? The Chambers school dictionary defines money as the coins and banknotes‚ which are used for payment.The dictionary also defines evil as wicked‚ harmful and unpleasant. You could say that money is the root of all evil but now that would be a lie. The Bible reference from which this idea is derived clearly states that the LOVE of money may I repeat that the LOVE of money is the root of all evil not that money itself is the
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Can Money Buy Happiness? Introduction Over the years‚ there have been heated debates on whether money can buy happiness. Majority argue that money cannot‚ by all means‚ buy happiness. However‚ a considerable body of economic researchers thinks otherwise. Different studies seem to agree‚ that to a certain extent‚ money can buy happiness. Therefore‚ it appears that money can buy happiness‚ to some extent if used appropriately. In order to be able understand how money‚ as an item of exchange‚ can buy
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beyond‚ we all use money to live in this world. We as new generation of human should not think that money is part of our lives. With only money‚ not all things you can get‚ So‚ I will say money is not everything. STATEMENT OF SPECIFIC PURPOSE II. Don’t always depend on money. PREVIEW OF MAIN POINTS III. Reason why people should not depends on money. A. Money can’t help us when we are dying. B. Affect the morality of people to negative situation. C. Money brings destruction
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Disadvantages Of Spending Money Everyone uses money. We all want it‚ work for it and think about it. If you don’t know what money is‚ you are not like most humans. However‚ the task of defining what money is where it comes from and what its worth belongs to those who dedicate themselves to the discipline of economics. While the creation and growth of money seems somewhat intangible‚ money is the way we get the things we need and want. Here we look at the multifaceted characteristics of money. Before the development
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