a) The Report’s main points The report identifies the complexities that exist within the economic paradigms with relations to uncertainties and economic instability that have characterized the markets and businesses at large. The report analyzes the imperatives of organizations identifying efficient approaches to governance‚ risk and compliance (GRC). This is a sensitization on the part of various business organizations and entities about business environment that involves a number of risks and
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Qiong Wu Instructor James Dutra ACC 412 March 26‚ 2014 Case 3.1 Dodgers Trolley Summary The Dodgers Trolley case is a simple problem related the internal control in auditing. Dodgers Trolley was original funded in New York‚ but Yankees performed much better. After nearly seven decades of mostly frustration on and off the baseball field‚ the Dodgers shocked the sports world by moving to Los Angeles in 1958‚ because Walter O’Malley saw the opportunity to introduce baseball to the increasing
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Case 1 Analysis of a Potential Audit Client Shea Galvin Review Comments Table of Contents Page 4: Discussion Questions Pages 5-6: Exercise Discussion Questions 1. An independent auditor would be needed so they can continue to be neutral. There is a possibility it could make the auditor not as self-governing if they are auditing Lakeside as well as the bank in which they are taking loans from. The auditing firm needs to stay free in mind
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AUDIT TECHNIQUES I. NATURE and PURPOSE of AUDIT TECHNIQUES Auditing Techniques are the basic tools utilized by auditors to obtain audit evidences. Auditing Technique is defined as any technique as any technique used to determine deviations from actual accounting and controls established by a business or organization as well as uncovering problems in established processes and controls. Auditing Techniques can be used to aid organizations by uncovering errors in business practices and providing
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CASE STUDY 1: PANERA BREAD COMPANY 1. What do you describe as Panera’s purpose‚ mission‚ and strategy? To satisfy customers with fresh baked breads‚ gourmet soups‚ and efficient service. Their strategy is to watch and carefully time market trends and orient the company toward innovating to fulfill consumers. 2. How well has Ron Shaich utilized the open systems model of organizations in moving Panera Bread Company forward in its competitive environment? I believe he has done a
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Auditing – acc546 (3 credits) In this course‚ students focus on the auditing practice performed by public accountants. Topics include the CPA profession and the auditor’s role‚ planning the audit‚ audit reporting and required communications‚ evaluating internal controls‚ audit programs for current assets and liabilities‚ and audit programs for other business cycles. This graduate-level course is 6 weeks. To enroll‚ speak with an Enrollment Advisor. Topics and Objectives The CPA Profession
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Question 1: Comment on the terms and conditions placed by the corporation. Answer: Consider the corporation’s point of view: Take a look into a couple T&C individually‚ Where CORPORATION wanted the hardware and software ordered from a single supplier‚ and wanted the equipment on a long lease and not outright purchase The committee formed by CORPORATION didn’t want to take the responsibility of the each and every item that was being purchased because in that case they would have had to run
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EMBA Spring 2015 Superior Manufacturing Company Managerial Accounting DR.: Khalid Hegazy Assignment Presented by: Mona Abdallah Student ID : 131239 Superior Manufacturing Company Question1: Do You Agree with Water’s decision to keep product 103? As per below calculations‚ dropping Product 103 will result in more loss while they were making a profit in case of keeping all of the 3 products. Based on this‚ I agree
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control framework used to conduct its assessment of internal controls. Discuss the options in selecting a control framework. Regarding the control framework‚ the SEC has made specific reference to COSO as a recommended model. Furthermore‚ the PCAOB Auditing Standard No. 5 endorses the use of COSO as the framework for control assessment. Although other suitable frameworks have been published‚ any framework used should encompass all of COSO’s general themes 24. Prior to SOX‚ external auditors were required
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Dell case According to the 10-K filed on 30/13/2012 on Dell’s website‚ the following data has been appeared on the fiscal 2012 financial statement. Sales: 62‚071 Total Assets: 44‚533 Net income: 3‚492 Cash flows from operating activities: 5‚527 Number of employee: 2012 109‚400(106700 regular employee and 2‚700 temporary employee) 2011 103‚300(100‚300 regular employee and 3‚000 temporary employee) 39‚900 located in USA and 66‚800 in other countries Dell’s products Dell’s products
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