Chapter 5: Internal Control over Financial Reporting 1. Internal control is a process designed to guarantee the achievement of the objectives of reliable financial reporting‚ compliance with laws and regulations and ineffective and inefficient operations. FALSE 2. Auditing standards require that the auditor exercise professional judgment and maintain professional skepticism throughout the planning and performance of the audit. TRUE 3. If internal controls are not enforced they are useless
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(Scott‚ 2008). There are essential fats that our body needs‚ but the excess of fat is when one is considered obese. When one has excess body fat‚ it causes health problems by putting one at risk for several diseases and can put strain on the body’s internal organs. There are factors which are associated with the obesity epidemic that some people may not be aware of. There are biological and environmental factors which contribute to the obesity epidemic today. A person’s genetic makeup can play
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decided to sell food. The most popular food items are pizza‚ hot dogs and BBQ sandwiches. The busiest time will be one hour prior to the game beginning and during half time. Julia was able to secure a deal with a pizza company to deliver 14” pizzas‚ 8 slices each for $6 before the game and before half time. Julia found a 3’ x 4’ warming oven she can rent for $600 or $100 per game to keep the food warm. She has saved $1500 to purchase food and supplied for the first game. The money from the games will
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Generally‚ every organization’s performance could be enhanced if they have a sound internal control system. Internal control sys has two subcategories: A) Control environment B) Control procedures and policies @ control activities Control environment is abt attitude of board n mgt‚ whether they have integrity(honesty) and value the importance of running a sound internal control system. So‚ if their attitude is good‚ they will raise awareness and foster good attitude among ppl in the org
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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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Wireless Signals XXXXXXXX IT/242 March 3‚ 2013 XXXXXXX Wireless Signals Technology in general is in a constant state of invention and development especially in the computer industry. Network technology has made much advancement over the last 10 or more years. Today networks are now wireless‚ able to transfer data at faster speeds‚ and new network technology has increased security. Wireless technology sends and receives digital
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Task Investigation Essay on Internal Control Submit your completed Task to your teacher at the first lesson of Term 3 The Scenario Kay Slater‚ an experienced surfie and owner of Surfies and Boardies‚ has employed nine staff in her business to make and sell surf boards‚ and surfing equipment and assist with administration. She has employed her staff as follows: * Five of the employees work in the factory where valuable equipment is stored and used. Of these‚ one is responsible for the inventory
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Title | Examining Different Arguments Related to the Choice of a Career | Assessment Part A: Critically Evaluating an Argument | Build your mindmap. | Arts and Sciences (Advantage): Lots of flexibility in career choices: Logically Sound | Arts and Sciences (Disadvantage): Leads to a career in food service - ’Do you want fries with that?’: Overgeneralization | Education (Advantage): The best way to make a difference in the world: Overgeneralization | Education (Disadvantage):
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3. What was glam rock and how can its influence be seen in 1970s rock? Glam rock was characterized as a form of rock that was performed by male performers who wore makeup and very feminine clothing. Many glam rock bands had very elaborate stage shows and costumes and were also known to make many references to both sexuality and drugs in their performances and lyrics. In addition to the sexual references‚ glam rock was also known for its gender ambiguity as well as depictions of androgyny. Glam
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4. Organisation background Inkwell Limited is a manufacturer of re-cycle inkjet and laser toner printer cartridges. Inkwell Limited printer cartridge is widely applicable. The main commercial focus is on strong retail market that demand cheaper and greener products Inkwell Ltd has a couple of small main suppliers that produce 4.1 Inkwell Limited is a limited company‚ established in 2003. The head office and
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