What is internal control? It is the organisational plan and all the related measures that an entity adopts to: * safeguard assets * encourage adherence to company policies * promote operational efficiency * ensure accurate and reliable accounting records. It is either an administrative control or an accounting control Characteristics of an effective internal control system include: * Competent‚ reliable‚ and ethical personnel * Assignment of responsibilities * Proper
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institute that are referred to as records. This information generated is also use for projecting and planning purposes. (Managing records at school level). Managing and organization student’s records into a cohesive and efficient might seem like an impossible task‚ but it depends how much effort is placed in it‚ that makes it possible. School that properly manages their records meets its legislation responsibilities‚ aids its administrative processes and ensures that records are stored when needed and destroyed
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2-1 BU8101 Accounting: A User Perspective Lecture 2 The Accounting Cycle Wednesday‚ 17 August 2011 Mrs. Ho Yin Kheng S3-01C-88 Nanyang Business School Nanyang Technological University Email: yklau@ntu.edu.sg Tel: 67905694 2-2 LO 2 Lecture Outline 1. Analyzing Business Transactions 2. Recording Process a. b. c. d. e. f. The Source Document The journal The accounts Debit and Credit rule Recording process illustrated Unadjusted trial balance 3. Adjusting entries
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Work in process. Merchandise inventory. Raw materials. Rudolf Diesel Company’s inventory records show the following data: Units Unit Cost Inventory‚ January 1 5‚000 $9.00 Purchases: June 18 4‚500 8.00 November 8 3‚000 7.00 A physical inventory on December 31 shows 3‚000 units on hand. Under the FIFO method‚ the December 31 inventory is $21‚750. $21‚000. $27‚000. $24‚000. Rudolf Diesel Company’s inventory records show the following data: Units Unit Cost Inventory‚ January 1 5‚000 $9.00 Purchases: June
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The story “The Odyssey” written by Homer was an intriguing epic poem from start to finish. The story had many adventures and scenes that kept readers wanting to read more. The end of the novel turns very violent and gruesome‚ when the mail character goes on a killing spree and slaughters dozens of men and women who were living and working in his palace while he was at sea. This action was taken to the extreme and was highly unnecessary on his part. When people think of the great adventurer and leader
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The NMC (2008) state that record-keeping is fundamental in nursing practice. Accurate record-keeping ensures effective patient care and protects their welfare by promoting consistency of care (Spouse et al. 2008). The NMC (2008) introduced Essential Skills Clusters 2010 (NMC 2010) to pre-registration nursing which conveys that communication must be effective‚ both orally and in writing so that the meaning is always clear. Dougherty and Lister (cited by Hutchinson 2006) also identify that language
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Accounting and Profiling Information Management System A System Proposal Presented to the Faculty of the Information Technology Education Program University of the Immaculate Conception Fr. Selga St.‚ Davao City _________________ In Partial Fulfilment of the Academic Requirements for the Subject SYSTEMS ANALYSIS AND DESIGN (SAD) By: Dayrit‚ John Paul N. Evasco‚ Allan Christopher G. Mendoza‚ John Mark N. September 2013 Table of Contents Part I SYSTEMS ANALYSIS
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Written Assignment I 1.2) Boeing Company is the largest manufacturer of commercial aircraft in the United States and is a major employer in Seattle‚ Washington. Explain why each of the following individuals or organizations would be interested in financial information about the company. a. California Public Employees Retirement System. One of the world’s largest pension funds. They would be interested in Boeing’s financials to see how much the company contributes to their employee’s 401K
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Public Company Accounting Oversight Board; Will it Protect Investors? The Public Company Accounting Oversight Board (PCAOB) was created by Sarbanes-Oxley Act of 2002. This board was created to oversee the audit of public companies‚ subject to the securities laws‚ in order to protect the interests of investors (15 USC 7201‚ 2002). It was created in wake of the recent financial scandals of Enron‚ WorldCom‚ and Global Crossing to name a few. This "Act" established by Congress is to create an oversight
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1. CheckPoint: Record Formats * Resource: Ch. 4 of Essentials of Health Information Management: Principles and Practices 1. Summarize‚ in 250 to 300 words‚ the differences among source oriented records‚ problem oriented records‚ and integrated records. 2. Include how you think the advantages and disadvantages of each record format affect everyday work—remember to think about retrieving records as well as filing them. 3. Post your CheckPoint in your Assignment Section as an MS-Word
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