Essay on Finance and Internal Control - 976 Words

ACCT301 Week 2 Homework 1. In two to three paragraphs, describe the Sarbanes-Oxley Act and why it is important to the accounting profession. (15 points) The Sarbanes-Oxley Act was passed in 2002 by Congress after a series of scandals involving companies such as Enron, WorldCom, and Tyco. This was passed because of shady transactions and misrepresented financial data which caused shareholders to lose millions of dollars and their trust in investing in public companies. It was passed to create new rules of accountability and accuracy for public companies. It is important to the account profession because companies were required to have met certain conditions or face the consequences. The Act requires all public companies to†¦show more content†¦Control Activities: This refers to the organization’s policies and procedures which help ensure that the necessary actions are taken to speak out and address potential risks. Information and Communication: This focuses on the â€Å"nature and quality† of information that is needed in order to effectively control the systems used to develop such information and reports used to communicate effectively. Monitoring: This involves assessing the quality and effectiveness of the company’s internal control process over time. This includes assessing the design and operation of controls, the compliance with polices and procedures, and making sure everything is done according to the rules. 3. Describe the relationship between the Sarbanes-Oxley Act and COSO. (10 points) There are some close relationships between the SOX and the COSO. The COSO would essentially the framework for the SOX which took effect in 2002, forcing businesses to comply with different rules, policies, and producers. Though SOX is more rigorous about setting these standards and have implemented more guidelines, the COSO was essentially what the SOX Act used in order to stop fraud within a business setting. 4. Tom Jackson is a CPA who really likes to go to Las Vegas, play poker, and bet on football games. Tom knows that the accounting profession disapproves ofShow MoreRelatedFinance and Internal Controls Essay697 Words   |  3 Pagesï » ¿Finance and Investment Controls Just as all cycles discussed in this proposal the finance and investment cycles are vital to the return of borrowed assessments and the value (and longevity) of the company. Corresponded or intertwined to that of the investment cycle and business cycle, the Finance cycle deals with the company’s ability to pay back investors and entities that have facilitated finance to the company’s mission and vision. The finance cycle commences from the initial moments of obtainingRead MoreSources of Internal and External Finance for American Chicken959 Words   |  4 Pagesthe different sources of finance available to them , both internal and external. By doing this it will help them achieve both of their business objectives mentioned before. Overview There are two sources of finances available to American chicken, internal and external. Internal sources of finance are finances raised from inside the company for example profit that is re-invested into the business known as retained profit. Internal finance is generally the type of finance that a new business wouldRead MoreWhat is Finance Management?1598 Words   |  6 PagesWhat is finance management? â€Å"Financial Management is the Operational Activity of a business that is responsible for obtaining and effectively utilizing the funds necessary for efficient operation.† by Joseph Massie. What is capital market? â€Å"Are places where companies which need long term finance can meet investor† (business study guide, p120) P1.1- Identify the sources of finance available to new business you have chosen. Every business needs finance of money to invest; there are a number of waysRead MoreDefinition Of Primary Government : The City Of Bakersfield Essay895 Words   |  4 Pagesis approximately 100 miles north of Los Angeles. The City had an estimated population of 367, 315 as of January 2014. Government’s Financial Condition as of the balance sheet date: According to the letter of transmittal provided in the CAFR the finance director states the city is showing signs of recovery after the recent recession. The letter states that the City has been really careful managing their budget and ensuring they have a cushion to rely on in case of emergencies. Significant changesRead MoreSources of Internal and External Finance for Marks and Spencer760 Words   |  3 Pagesand Spencer Sources of Internal and External Finance for Marks and Spencer Mark and Spencer is one of the leading UK retail companies that deal in clothing, house hold items and most recently food. It has a range of outlets over the world for it products. Mark and Spencer source of finance is both internal and external which are discussed briefly in this paper. The paper further discusses the use of budget as a means to exercise financial control. Internal source of finance The Corporation reliesRead More CEO and Head of the Audit Committee of the Board of Directors1037 Words   |  5 Pagesmemo are, first, to explain the meaning and significance of evaluating control environment; second, to discuss the integrity and ethical values; third, to show the organizational structure; fourth, the importance of establishing commitment to competence; finally, to establish and segregate the division of responsibilities of finance and accounting department in order to establish the appropriate tone. Control Environment Control environment is the step engaged by a company to prevent fraud; both misappropriationRead MoreThe Impact Of Internal Controls On Tertiary Institution s Financial Performance1510 Words   |  7 PagesThe different impacts that internal controls on tertiary institution’s Financial Performance: Background of the study Internal controls refer to different measures employed by organizations so as to ensure attainment of the entity’s objective, goals and missions. With the aim of reducing wastes, theft or the misuse of organization resources specifically funds, different policies and procedures are enforced on the transactions to ensure appropriate transactions management. These provide the necessaryRead MoreKnottyville Case Essay1414 Words   |  6 Pagesï » ¿ Knottyville Country Club: Asset Misappropriation Srinivasan Ragothaman LEARNING OBJECTIVES After completing and discussing this case, you should be able to Evaluate misappropriation risk factors Evaluate internal controls Design new control Governance in non-profit sector Analyze materiality decisions Apply SAS 99, PCAOB AS5, and SAB 99 Perform cost benefit analysis Knottyville Country Club: An Instructional Case on Asset Misappropriation There was a stunned silence in the courtroomRead MorePlanning Objectives And Objectives Of An Organization Essay1298 Words   |  6 Pagesresponsibility and advises the council on issues related to internal and external audit, financial control, management of risk and the adequacy of the systems on internal controls. 2. Budget Holder Members of staff other than the Head of Academic Department or the Head of Professional Service or the Director of Finance who have been assigned a budget and is accountable to a Pro-Director or the Director of Finance. 3. Director of Finance This is the chief financial officer of the school, who is accountableRead MoreInformation Technology Audit Team Creation1287 Words   |  6 Pagespertaining to the entire organization. Moreover, the expected outcome of this report is to provide all crucial aspects of successfully creating an IT audit team, so that the team is fully efficient to figure out each and every pros and cons of the internal controls of an IT department. Focus for the Team The focus of an IT audit team is evolving from a traditional to a progressive approach. Whereas traditional auditors were audit focused and their objectives were mostly based on compliance, policies and

Essay on Both Sides of Gun Control in the United States

Usually when people think about guns they think about crime. But are the two really related? Do guns really lead to crime? And if they do, do laws that restrict firearm ownership and the use of guns stop the crime or protect people? These are the questions many politicians are asking themselves when creating gun control laws. The debate over gun control is nothing new. As you can see this debate still goes on today and is the cause for the beginning of gun control laws. Guns are extremely powerful weapons. They can cause destruction, harm or even death. They can be used to defend and protect or to threaten and kill. However you look at it, guns are powerful instruments, not only physically but socially. As high school students it is†¦show more content†¦Though they are different between each state, there are some basic federal laws that are working nationwide. These include that no person convicted of a crime can own a gun, a person must be 21 or older to purchase a handgun and that ?persons who engage in the business of buying or selling firearms must be licensed? (NRA). One of the laws having the biggest impact was the 1993 Brady Handgun Control Act which is now in affect in 32 states. This act requires a waiting period for the purchase of a handgun and a background check system to ensure against the possession of guns by felons. The effects of gun control laws have been highly effective but they don?t stop people from trying to get a firearm. The Brady Handgun Control Act made it more difficult to purchase and own a gun. Pro-gun affiliates see gun control laws as a way for the government to dictate the people. The real question is, Who should own a gun and what restrictions should they have to be able to keep it? This question is important to everyone related to the issue. Weapons have a big role in everyone?s lives. Most have their own hunting rifle or a collectible pistol. But either of these in the hands of a youth in your neighborhood could be dangerous. Americans value their rights to freedoms granted to them by the Constitution, which includes the possession of firearms as stated in the Second Amendment.Show MoreRelatedGun Control Laws Should Be Enacted1334 Words   |  6 PagesGun Control in America Gun Control in America has been argued back and forth for decades past. On one side it is strongly believed that the Second Amendment suggests that individual citizens have a constitutionally protected right to own a gun and protect themselves. These individuals believe that gun control laws do not in fact reduce gun violence. On the other side it is said if Gun Control laws are enacted there would be less gun and school violence. Also, it would be harder for criminals andRead MoreGun Control1106 Words   |  5 Pagesgames, veganism, etc. Gun control is one of the most highly contested debates in our nation today and is currently relevant due to the recent mass shooting in Las Vegas. The majority of those who are in favor of gun control believe regulation will lead to a safer society and they don’t want any more people to die from shootings. Others argue against gun control stating that it is their right as an American to own a gun if they choose to. While it’s reason able to say that both sides of the debate wantRead MoreEssay on The Gun Control Debate865 Words   |  4 PagesI have a very strict gun control policy: if theres a gun around, I want to be in control of it. -- Clint Eastwood Gun control has a history dating back to 1791, when the Second Amendment of the Constitution was ratified. However, more recently, the debate over gun control has escalated into a much more public issue to which many citizens can relate. After all, stories about incidents involving guns appear frequently today in newspapers and on television or the radio. One could say thatRead MoreGun Control Laws Should Not The Safety Of The Citizens1681 Words   |  7 Pagesnumber one country for number of gun related deaths ratio each year. â€Å"In Germany 381, in France 255, in Canada 165 in the United Kingdom 68, in Australia 65, in Japan 39 and in the United States, 11,127† (Moore Michael, 51:15-51:48). Due to the United States having the greatest number of gun related deaths, it is almost essential to implement gun-control laws that restrict people from purchasing and owning dangerous firearms. The laws that are created to control the guns should ultimately keep the safetyRead MoreTh e Issue Of Gun Control1208 Words   |  5 PagesWill Christopherson Traverson English 2 1 March 2017 Gun Control The United States has 88.8 guns per 100 people, or about 270,000,000 guns, which is the highest total and per capita number across the globe. The current public gun control debate in the United States seems to be placed on standby until it is sparked up by a major mass shooting. There were at least 126 mass shootings between January 2000 and July 2014.(pro). Opponents of more gun laws accuse supporters of using a horrific event to furtherRead MoreGun Debate to Bear Arms Essay538 Words   |  3 Pagesturn on the news there has been a mass shooting somewhere in the United States. This sparked up massive debates about the right to bear arms. Then lobbyists like the NRA, (National Rifle Association), step in and started to protect our rights to have firearms. Since then people all over the United States have been debating about gun rights. The Second Amendment, â€Å"a well regulated militia, being necessary to the security of a free state, the right of the people to keep and bear arm s, shall not be infringed†Read MoreThe Issue Of Gun Control1058 Words   |  5 Pageslandscape across the United States currently than that of gun control. Advocates on either side of the issue are quick to voraciously fight for what they believe, as well as to tear down anyone who sees the issue differently. But unlike other issues, it seems that gun control advocacy does not rest on a spectrum; either you are pro-gun control or you are against it, and anyone caught in the middle is likely to get flak from both sides. But why is the issue of gun control such a hot topic? AndRead MoreMass Shootings : Will Gun Control Legislation Provide Effective Prevention?1689 Words   |  7 Pagesshootings: Will gun control legislation provide effective prevention? Currently in the United States, there is a large debate going on about what we should do about gun control. This issue played a large role in the recent election of our president Donald Trump. In this issue, there are two sides as well as a middle section that agrees slightly with both sides. On the extreme sides of the issue, some people believe that guns should be completely not allowed in the United States, while some believeRead MoreGun Control And The United Kingdom952 Words   |  4 Pagesare have been 312 mass shootings all across the United States. Within the 312 mass shootings there has been 20 school shootings, including the Umpqua Community College shooting that just happened nearly a month ago. Both sides of the political spectrum cannot come with a Bi-partisanship agreement on guns. Even though Congress cannot decide whether or not to in act some type of gun control order what if gun control was not the answer? Gun Control, are a set of laws and policies of transfer, ownershipRead MoreAn Informative Essay on Gun Control1289 Words   |  5 Pages Due date Informative Essay on Gun Control Introduction The right to possess guns is a fundamental element to American identity. The right to own and operate guns under certain circumstances is in fact guaranteed as part of the United States Constitution. Over the course of American history and particularly in the 21st century, there exists a great debate over the possession of guns of private citizens. Both sides of the debate argue with fervor. There are those that argue fervently for

Chosen character in the play Essay Example For Students

Chosen character in the play Essay An Inspector Calls is set in the year 1912 but was written by J.B. Priestley in 1940, during the Second World War. Priestley had witnessed the suffering, torture and discrimination of the working-class people who lived throughout the two World Wars and the years that lay in between. Priestleys experiences had influenced him to expose his thoughts and opinions during the course of the play. These are expressed through the various roles played by the Inspector. Arthur Birling an affluent businessman, is holding a family dinner to celebrate his daughters engagement to Gerald Croft, who himself is the son of a very prosperous businessman. Into this scene intervenes a police Inspector, investigating the suicide of a young working-class woman.  The Inspector plays very important roles in this play. Without the Inspector, none of the characters encounter with Eva Smith (or otherwise known as Daisy Renton) would have ever come into the open. For this very reason the Inspector is known as the catalyst for the events of the play.  Whilst Birling is summing up his views on politics and society, the Inspector rings the bell and cuts off Birlings speech mid-way and Birling never gets to finish his speech. that a man has to mind his own business and look after himself and his own and-   This has a major significance in the play, as it shows that an average man like the Inspector can make someone as powerful as Birling, completely powerless. It also shows that the Inspectors points and beliefs were more valid and humane than Birlings capitalistic views and beliefs  The first impression of the Inspector is described by Priestley in terms of massiveness, solidity and purposefulness, this represents that he is an unstoppable force within the play.  He speaks carefully, weightily and he has a disconcerting habit of looking hard at the person he addresses. This symbolises the fact that the Inspector thinks carefully before he talks and that what he says has a valid reason. It also gives the impression that the Inspector sees through the person to the real person beneath. Before the Inspector arrives, Birling had been setting out his views, every man must only look out for himself, but the Inspectors role proves that this isnt the case. The Inspector also plays the role of a Socialist against a Capitalist. The Inspector is against Capitalistic views because he is not just concerned about himself but about others as well.  So you used the power you hadto punish the girl because she made you feel like that?  One of the most essential roles played by the Inspector is that he doesnt only just confront each character but he also forces each character to admit the truth. The irony that lies here is that the Inspector doesnt find out anything that he doesnt already know. The Inspectors intention is to merely get them to see what they and the others have done and to make them feel responsible for Eva Smiths (or Daisy Renton) death. The Inspector has a very specific technique of carrying out his interrogation.  One person and one line of enquiry at a time, Its the way he likes to work because otherwise, theres a muddle His role here as a policeman is quite unusual as compared to that of a usual policeman because a typical policeman wouldnt have insisted on interrogating one person at a time. Moreover, a typical policeman would have interviewed each person separately, this goes to prove that the Inspectors aim was to show the others what they have done. Another unusual quality that lies within the Inspector is that he is more concerned about criminal law than moral law. But the Inspector deeply believes moral values. He tells the characters:  If you are easy with me, Im easy with you He his here conveying that that you should do unto others as you would want them to do unto you. He also shows that he has love and pity for those who are willing to accept their responsibility, however not to the extent that of forgiveness. 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Yet he doesnt control their reaction and how they are affected by the girls death. No, wait a minute, Miss Birling, Then Id prefer you to stay

Relationship between charity, duty, and morality

The author of the article is trying to define the moral responsibility of every individual in society with regard to giving relief and alleviating suffering. He uses the case of refugees in Bengal, India. The refugees are experiencing an emergency that has gone unnoticed by many individuals. The relief they have received is not enough to alleviate their suffering.Advertising We will write a custom essay sample on Relationship between charity, duty, and morality specifically for you for only $16.05 $11/page Learn More The author’s argument is that it is necessary for the society to change its way of responding to the problems of needy people. The thesis of the article states that it is everyone’s moral responsibility to prevent suffering and offer assistance without sacrificing anything of equal moral importance. The author starts by stating that it is wrong for people to die from lack of basic human needs including food and shelter, as well as medical services. Singer talks of the importance of morality in society and uses the case of refugees in Bengal to present his ideas and arguments. He argues that people have a moral responsibility to prevent bad occurrences. Morality does not choose the type of person to help or their geographical location. In addition, distance should not be a hindrance. He argues that the geographical location of needy people should not be a reason to deny relief to the needy. The problem of distance has been overcome by globalization. Singer explores the issue of numbers and obligation, and their relationship to morality. According to him, it is immoral for anyone to refuse to help because other people are not doing it. It is an individual obligation to help and not a communal obligation. Singer argues that individuals should offer as much help as they can without causing suffering to themselves or their families. It is important for people to offer help as long as they do not expose themsel ves to suffering. He demonstrates the effect of communal perception on people’s willingness to help. Many people give relief because others do it. However, if others fail to do it, they also refrain from giving relief. This way of looking at moral responsibility is flawed. Singer talks about distance and moral obligation with regard to offering assistance to the needy. According to him, it is morally right to offer assistance only if it does not involve any immoral act. The author argues that there is a thin line between duty and charity. According to Singer, it is everyone’s duty to prevent unfavorable events from happening. He finds it necessary to redefine charity and duty. For example, he argues it is everyone’s duty to prevent unfavorable events.Advertising Looking for essay on philosophy? Let's see if we can help you! Get your first paper with 15% OFF Learn More Offering assistance should not be optional but a moral obligation. He adds that i t is important to develop a universal moral code that defines the moral duties of people in society. Offering help and preventing bad things from happening regardless of culture or geographical location should be a universal moral responsibility. He cites reasons why people fail to give relief. Many people consider relief as a responsibility of the ruling government. In addition, many people consider it as a way of postponing a problem instead of finding a lasting solution. However, he argues that these reasons should not stop people from giving relief. Singer says that people should focus their energies on helping to alleviate suffering so that such problems are not experienced in future. This essay on Relationship between charity, duty, and morality was written and submitted by user Brylee Espinoza to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.