During an operational engagement‚ an internal auditor observes a large number of above-ground storage containers and a large amount of black emissions from a smokestack. The organization has an environmental safety department. The engagement is not designed to consider environmental concerns. The best course of action is to A. Make a note to consider environmental risk concerns when developing the engagement plan for the next year‚ but do not expand the scope of the existing engagement because
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BLG & Co.‚ CPAs 306 3rd Flr. MSA Second St.‚ Ayala-Alabang‚ Muntinlupa City Philippines SUBSTANTIVE TESTS – PURCHASE/ACQUISITION TRANSACTIONS ASSERTIONS OBJECTIVE PROCEDURES I. Existence Or Occurrence II. Rights and Obligations To determine that recorded purchases are for items that were acquired. To determine that purchases are the entity’s acquisitions and liabilities. For a sample of purchase transactions recorded in the purchases journal‚ trace vouchers to authorized purchase
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Murabaha Documentation & Practical Issues There are a number of documents involved in a Murabaha financing transaction. The most essential of these documents are: * Master Murabaha Financing Agreement * Agency Agreement * Order Form / Draw Down Notice * Declaration * Purchase Evidences * Demand Promissory Note * Payment Schedule Master Murabaha Financing Agreement (MMFA) * Its an agreement between the client and the Bank whereby the client agrees to
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Expenditure Cycle Introduction Definition: recurring set of business activities & related info-processing operations‚ associated with procuring goods & services from suppliers (primary external info exchange) & cash disbursements Objectives: minimise total cost of acquiring/maintaining inventory‚ supplies & services Goals of Expenditure Cycle • Purchase from reliable vendors (service-focused) • Purchase high quality items (quality-focused) • Obtain best possible prices for
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Dashman Case-Study Summary of the Case Study: The Dashman Company is large concern having 20 plants located in the central part of US‚ which makes many type of equipment for the armed forces. All 20 plants were working as a separate independent unit. In an effort to avoid the anticipated shortfall of certain essential raw materials required by the plants‚ Mr. Post was appointed as VP-Purchase to coordinate the purchasing activity by the President‚ Mr. Manson. Mr. Larson who was very experienced
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To: Zhichao Wang’s Laptops Shop From: Yeyang Jia Subject: NetSuite Application Control Testing Weakness #1. 1. Weakness being tested: Create a check to pay a vendor an amount that is higher than the accounts payable due the vendor. 2. Test Setup: a. I created a purchase order‚ which is purchasing 100 keyboards from Al Systems Ltd with purchase price of $45.00. So‚ the total amount owe the vendor in this purchase transaction is $4‚500. Then‚ I confirmed that the company has received
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Implementation Plan Implementation Premier Network Solutions will be constructing an entire network infrastructure for the company. This documentation will show the methods and processes used to implement the strategies and procedures. Schedule Purpose: Premier Technology will be developing the network. The implementation Projected start time will be Nov 12‚ 2012‚ Jan 3‚ 2013 will be the projected finish time. Cabling Premier Technology will begin installation and setup as soon as
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Vendor Selection Process The vendor selection process can be a very complicated and emotional undertaking if you don’t know how to approach it from the very start. Lack of effort‚ poor planning or taking shortcuts will serious jeopardize the success of the vendor selection process. When you opt for the lowest bidder without undertaking a complete vendor selection process and you do not have the right vendor‚ you will soon experience bad customer support‚ poor quality of missed delivery dates. Going
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Chapter II System Design Description of the Existing System The Memory Lane Bookstore is a medium sized bookstore in the heart of Bacolod City. The owners had the idea of putting up this kind of business because they themselves love to read and has collected books throughout their school years. It started four years ago as a simple "pocket book for rent" business and blossomed to cater as textbooks source for various college courses. It didn’t stop there as they started stocking their inventory
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Activity 4.6 - Assignment: Module 4 Review Part 1: Review Questions What is an opinion leader? Discuss how marketers attempt to use opinion leaders to help sell their products? Provide examples? Opinion leaders are individuals whose behavior and ideas are looked up to and are considered a model for others to base/reflect their own behavior and ideas or ideals and opinions on. These individuals have a way to influence others who follow them. Marketers attempt to use them to help sell their products
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