Internal Control Procedures Free Essays

The internal control system should be designed to detect and prevent fraud, errors and omissions, and material misstatements, but it can only provide reasonable assurance that the financial statements are free from material misstatements. The best designed internal control system will not prevent management override or collusion. The internal controls system is only as good as the management support behind the system; this includes training employees and actively monitoring the controls. We will write a custom essay sample on Internal Control Procedures or any similar topic only for you Order Now management should be investigated, explained and corrected as appropriate. Each of these internal. Internal control procedures are the responsibility of management. Each control should be evaluated based on risk and a cost/benefit analysis. There are several effective low cost procedures that can be implemented. These control procedures, when operating effectively, will provide reasonable assurance that mistakes will be either prevented or detected. Examples of controls that would have ensured that the prepaid adjustments were made would be to compile a check-list of recurring monthly journal entries, than as part of the financial statement review process, this check-list should be reviewed by management. At each financial statement date, each balance sheet account is reconciled; this will ensure that each balance is supported. All reconciliations should be reviewed and approved by management. Finally at each financial statement date, flux analysis should be performed by comparing the actual results with both prior period actual and the budget. All variances within a tolerance threshold defined by control procedures are manual processes, which can be implemented with proper staff training Symptoms of a lack of internal control include failure of management in exercising proper due care and proper staff supervision. These symptoms can be identified by missing documentation and identified errors in the account balances; and the lack of a company-wide ethics policy. (Herrera, 2010) Another symptom is that there is an identified lack of segregation of duties; which means that staff members have access and are performing tasks that are in contradiction to the normal assigned duties. We identified that the adjusting entries for prepaid insurance were not recorded for the first 3 months of the year. For the first three months, expenses were understated which means that net income was overstated, also current assets were also overstated. How to cite Internal Control Procedures, Papers

Ccot the Silk Road free essay sample

Hence the name, â€Å"Silk Road†, the trade of silk remained constant through time between the East and West. Silk also contributed to social status in many societies. Silk was expensive; therefore, many peasants could not afford it. It became a fashion statement, where people who had silk, were wealthy. It was similar to the way foot binding was in China; small feet were a sign of wealth. The impact of silk trade was that it connected Europe with Asia and that it made the economy of many regions, especially China, prosperous. The Silk Road was not always a safe trading network. After the fall of the Tang Dynasty, the Silk Road declined and the Silk Road fell into the hands of Islamic control. Asia’s nomads were divided into tribes that were not necessarily friendly to each other and usually pillaged each other. The were 2 routes on the Silk Road; one was the steppe route, where nomads were common, making it unsafe and the other route was in the desert, that was still very much dangerous, but many merchants preferred to travel on. China was not as strong as it used to be and couldn’t take over other territories where the Silk Road went through nor protect the caravans traveling though the routes. The Silk Road was revived during the Mongol conquest in the 1300’s where the Mongols united Asia and its nomads. The Mongols promoted and ensured safe conditions for traveling and trading on the Silk Road. Trading between the Mediterranean and Asia flourished and this allowed more cultural diffusion among the trading. The Silk Road was an ancient trade route between Persia and China. Between these two societies, they would trade many things, such as gems, livestock, and gun powder. Gun powder had a very big impact on Western Europe. The Arabs experimented with the gun powder and used it as a weapon against Europeans when they invaded Arabia in the 11th century, which made Europeans curious about the secret weapon they were using. Then after the Crusades, when trade flourished, the Europeans obtained gun powder from trade on the Silk Road. The gun powder took away the need of chivalry and replaced it with cannons and guns. The Silk Road helped gunpowder get to the Europeans and this ended the era of nomadic herders due to the technological advancements of settled societies. The Silk Road was created during Han China, when agriculture, commerce, and population flourished. The Silk Road always had the same purpose throughout history. Its purpose was to exchange commodities or luxury goods easier between Eastern and Western worlds. This purpose maintained the same throughout time due to the developing interest of items the East and the West have never had, such as silk and paper. The impact of the Silk Road is huge on both the East and West. While trading increases, so does the cultural diffusion rate. Cultural diffusion on the Silk Road remained stable. Marco Polo is an example of cultural diffusion. He wrote a diary, while traveling from Europe to China, using the Silk Road. When he traveled back to Europe, he inspired other explorers and increased trade on the Silk Road by sharing his diary and experiences. The East and West obtained knowledge and items that would greatly help them improve their technology that they might have not ever got/known if trading on the Silk Road didn’t exist. Trading has many positive impacts, but it also has its negative ones, too. Diffusion of diseases is something that was always spread while trading on the Silk Road. Trading is at its apex when a society has its Golden Age, which is political stability and flourished trading. While trading, diseases are also exchanged to societies that are not immune to it, which eventually evolves into epidemics. Diseases that were spread by the Silk Road include Smallpox, Measles, and the Bubonic Plague, the most effecting one. The Bubonic Plague, also known as the Black Death, was spread to humans by fleas and rats. It first hit and spread in Central Asia, specifically the Mongols in the 1400s. The Mongols spread the disease into the Silk Road, where it was further spread into the West. Populations in both Asia and Europe decreased immensely. The spreading of diseases remained unchanged throughout time due to non-immune societies and the contact between humans and infected animals. The epidemics impacted places socially, religiously, and economically. It put people into a state of shock and they thought the disease was a punishment from God because back then, doctors didn’t have the knowledge to understand diseases and to make advanced medicines. The Silk Road has changed religions, mostly Islam and Buddhism, as well. Religions got stronger throughout time by trade. Islam was often spread by merchants and missionaries. In the 8th century, Muslims controlled the western half of the Silk Road and any merchants converted to Islam to be able to trade easier with Muslim merchants. When trade flourished, merchants spread Islamic beliefs to distant lands outside the Islamic World (Asia, Europe, and Africa). This helped Islam become a world religion. Ibn Battuta was a Muslim explorer from India and like Marco Polo, he traveled to China by using the Silk Road. Throughout his journey in the 14th century, he spread Islam to other societies. The Silk Road had a big impact on religions, because not only did it help it spread, but it also helped it develop and adapt into different societies. Buddhism that originated from India also was spread by merchants on the Silk Road. The Silk Road was pioneered during Han China. The exchange of silk and gun powder greatly impacted the world into what it is now. Diffusion of religions and diseases also impacted the world. If there was no trading of the Silk Road, the world would have been different today: Europe would never have guns and Islam would have never become a world religion. The Silk Road maintained much continuity and also, changed throughout time. Annotated Bibliography Konkolewski, Nancy. Introduction to The Silk Road.   Cerritos College. Cerritos College, n. d. Web. 03 Mar. 2013. I used this source to find information about the Europeans and how they discovered silk. Zhou, Ruru. History of the Silk Road.   China Highlights. China Highlights, 4 July 2012. Web. 03 Mar. 2013. I used this source to find information about the Silk Road in different dynasties and the history behind it. Wild, Oliver. The Silk Road.   Department of Earth Science System. The Regents of the University of California, 1992. Web. 03 Mar. 2013. I used this source to find information about how the Silk Road came to be and what they traded on it. History of Silk Road.   Trave China Guide. Trave China Guide, 1998-2013. Web. 03 Mar. 2013. I used this source to find information about silk and how it contributed to trade on the Silk Road. I also used this source to find out why silk was so important to people in Europe. Silk Road Trade: History Of Gunpowder.   Essortment. Demand Media, 2011. Web. 17 Mar. 2013. I used this source to find information about the finding of gunpowder in Europe and how t got there. Waugh, Daniel C. The Pax Mongolica.   The Silk Road Foundation. Silkroad Foundation, 2000. Web. 17 Mar. 2013. I used this source to find information about the Silk Road during the times of Mongol control. Smith, John Masson. The Mongols And The Silk Road.   The Silk Road Foundation. Silkroad Foundation, 2000. Web. 17 Mar. 2013. I used this source t o find information about the Silk Road during the times of Mongol control and how it made it safer. Rossabi, Morris. The Silk Roads.   The Association for Asian Studies. Association for Asian Studies, Inc. , n. d. Web. 17 Mar. 2013. I used this source to find information about the Silk Road during the times of Mongol control and how it made trading flourish. Cross Cultural Exchanges On The Silk Roads.   Slideshare. SlideShare Inc, 2013. Web. 30 Mar. 2013. I used this source to find information about the spread of diseases by the trading on the Silk Road and how it created an epidemic. Han Dynasty (206 B. C. -A. D. 220) and the Silk Road  China. org. cn. China Internet Information Center, n. d. Web. 30 Mar. 2013. I used this source to find information about how the Silk Road was created, when it was, and why it was created. Cassel, Seth. The Silk Road Linking Asia, the Middle East, Northern Africa, and Europe As Evident by the Spread of the Black Death.   Flamingnet. Flamingnet LLC, Jan. 2006. Web. 30 Mar. 2013. I used this source to find information about the Bubonic Plague and how it affected different parts of the world. Bubonic Plague.   Loyola University Chicago. Loyola University Chicago, 2014. Web. 30 Mar. 2013. I used this source to find information about the Bubonic Plague and how it got spread to different societies by the Silk Road. Marco Polo.   TravelChinaGuide. com. Travel China Guide, 2013. Web. 31 Mar. 2013. I used this source to find information about the experiences that Marco Polo had and how it affected Europe and the Silk Road. Strickman, Tim. Spread of Islam Through the Silk Road.   Prezi. Prezi Inc. , 2013. Web. 31 Mar. 2013. I used this source to find information about how Islam was spread on the Silk Road and the Silk Road’s effect on the religion. I also used this source to find information about Ibn Battuta’s journey on the Silk Road and how he spread Islam. Szostak, John D. The Spread of Islam Along the Silk Route.   University of Washington. University of Washington, 2013. Web. 31 Mar. 2013. I used this source to find information about Islam’s spread on the Silk Road. DInnocenzi, Tom. Silk Road – Trade Route and Cultural Bridge between East and West. Tom DInnocenzi. Word Press, n. d. Web. 31 Mar. 2013. I used this source to find information about the spread of Buddhism and Islam on the Silk Road and how it affected both religions. Religion.   Silk Road. Silk Road Study Group. , 2000. Web. 31 Mar. 2013. I used this source to find information about

Explain the Difference Between Sequence and Rate of Development free essay sample

The sequence of development is a process where an event is followed one after the other and achieves a level of succession with a series of changes or growth for example the normal sequence in which babies and children learn different skills rolling over, sitting up, lunging forward, crawling, pulling up, cruising, standing unaided, walking and finally running. If a child has difficulty meeting a milestone it can mean delays in moving onto the next one.However each child is unique and we need to remember that development is holistic, children will â€Å"usually† follow the same pattern of development but the ages in which they reach them can vary depending on the individual and if there are disabilities that may affect them. Developmental milestones are given as a broad average of expectation and so some children may stand out for reaching a milestone earlier or later than their peers.Many skills and areas of development will overlap with each other so for something that is considered a physical skill like playing netball it cannot happen without having social and cognitive skills as well. We will write a custom essay sample on Explain the Difference Between Sequence and Rate of Development or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page If a young person’s growth is different and noticeable to that of their peers this has the potential to affect their behaviour, puberty can vary widely between boys and girls and even between children of the same sex by as much as 3years, having early puberty can attract unwanted attention in the form of acne, body odour or development of breasts.Development is normally divided into different areas but it does all link and connect into one another. Physical development will affect a child’s ability to socialise, grow in confidence and become independent. The rate of development is referring to the speed in which a child will develop, the sequence will always stay the same but the rate will change, when observing a child’s development, it is important to look at all areas but the difference between the sequence and rate is important as it can highlight areas in which the child needs extra support and will help to identify if the child has a special educational need such as dyslexia. The rate at which each child develops is individual to themselves.

Rocky Mountains or Rockies1 essays

Rocky Mountains or Rockies1 essays Rocky Mountains or Rockies, great chain of rugged mountain ranges in western North America, extending from central New Mexico to northeastern British Columbia, a distance of about 3220 km (about 2000 mi). The Rockies are bordered on the east by the Great Plains and on the west by the Great Basin and the Rocky Mountain Trench, a valley running from northwestern Montana to northern British Columbia. The Rocky Mountains form part of the Great, or Continental, Divide, which separates rivers draining into the Atlantic or Arctic oceans from those flowing toward the Pacific Ocean. The Arkansas, Colorado, Columbia, Missouri, RÃ ­o Grande, Saskatchewan, and Snake rivers rise in the Rockies. The Rockies may be divided into four principal sections-Southern, Central, Northern, and Canadian. The Southern Rockies, which include the system's broadest and highest regions, extend from central New Mexico, through Colorado, to the Great Divide, or Wyoming, Basin, in southern Wyoming. This section, which encompasses Rocky Mountain National Park, is composed chiefly of two northern-southern belts of mountain ranges with several basins, or parks, between the belts. The component parts include the Sangre de Cristo and Laramie mountains and the Front Range, in the east, and the San Juan Mountains and the Sawatch and Park ranges, in the west. The Southern Rockies include the chain's loftiest point, Mount Elbert (4399 m/14,433 ft high), in central Colorado. More than 50 other peaks of the Rockies rising above 4267 m (14,000 ft) are in Colorado; these include Longs Peak (4345 m/14,255 ft high) and Pikes Peak (4301 m/14,110 ft high). The Central Rockies are in northeastern Utah, western Wyoming, eastern Idaho, and southern Montana. They encompass the Bighorn, Beartooth, and Uinta mountains and the Absaroka, Wind River, Salt River, Teton, Snake River, and Wasatch ranges. The Uinta Mountains are the only major portion of the Rockies that extends east-west rather...

Marketing for Nike - Questions Essay Example | Topics and Well Written Essays - 1250 words

Marketing for Nike - Questions - Essay Example In 2005 another definition of marketing was developed by AMA. The new definition highlighted the importance of customer value and the quality of communication between the organization and its customers (Ferrell 2012). In 2007 the definition of marketing had to be changed, again, in order to cover a broader audience: the new definition of marketing focuses on the value not just of customers but also ‘of partners and of society at large’ (Ferrell 2012, p.7). In this definition the issue of corporate social responsibility is emphasized (Ferrell 2012). At this point, the need for aligning marketing practices with ethics is made clear. At this point, the application of the above definitions of marketing for NIKE should be explored. NIKE has based its marketing strategy on the needs of its customers (Mourdoukoutas 2012). From this point of view, the organization’s marketing strategy is aligned with the first definition of marketing, as developed by AMA. Another characte ristic of NIKE’s marketing strategy is the importance given to the communication with customers. This fact is made clear, for example, in NIKE’s ‘She Runs The Night’ campaign which was introduced by NIKE in order to improve the communication of the organization with ‘its female customers’ (Marketing 2013). ... The products that the firm developed in order to respond to the demands of such project are presented in Figure 1 below. The first of the images shows NIKE’s new logo while the second and the third images show two products that have been designed in order to help towards the transition to a digital society: ‘a wristband for tracking energy, in the central image, and a watch customized for sports’ (Intelligent HQ 2013). Through such products the firm aims to contribute in the expansion of digital products in daily human activities, a target that it is related to the society at large, and not just to individuals. Thus, NIKE manages to respond to the requirements of the third definition of marketing, as set by AMA. Question B The Marketing Concept reflects the key role of marketing: ‘the satisfaction of customer needs’ (McDonald 2007, p.3). The marketing activities of NIKE seem to be fully aligned with Marketing Concept, as described above. More specific ally: a) NIKE tries to respond to the needs of all its customers; the introduction of a marketing campaign for improving the communication of the organization with women (Marketing 2013) denotes NIKE’s willingness to keep all its customers satisfied, b) in 2013 NIKE presented a watch that it is specially customized for sports (Intelligent HQ 2013); this initiative is an effort of NIKE to respond to the need of its customers for wearing a watch even when being involved in sport activities that are quite demanding, c) moreover, NIKE tries to continuously update its product, emphasizing on innovation (Mourdoukoutas 2012); this practice also denotes the firm’s effort to respond to the need of its customers for innovative products, d) NIKE is aware of the

Choose a contemporary issue and offer an equally outrageous solution Essay

Choose a contemporary issue and offer an equally outrageous solution to highlight its importance - Essay Example Induced abortions according to World Health Organization (19) include those that are performed in relation to legal sanctions and those done against the law. The term therapeutic abortion, strictly defined, according to World Health Organization (19) refers to medically indicated abortion for women whose life or health is in danger in the case of continuation of pregnancy or if the health of the unborn child is threatened by congenital or genetic factors. We are faced by this issue of abortion, and it affects ladies mostly. There are various reasons why ladies opt for an abortion. Kim argues that (7) each year throughout the world forty-six million women chose abortion; that means every two seconds three women choose abortion. Even in the U.S., where there are more than 1 million abortions a year. Many ladies say the following reasons as to why they have an abortion. (Kim, 8-10). they have abortions to save their lives, they might have an abortion because rape or incest caused her pr egnancy, she might have health problems, she might be concerned with the health of the fetus, she might be too young to mother a child Abortion has only an advantage when either of the fetus is in danger, or the mother is in danger. The danger may vary from the mother to fetus, but if the mother's condition is in danger, then abortion is advised. There are many benefits to remaining un-pregnant â€Å"advantages of abortion† (Hill) and he continues to write that, there is solid research proving that having an abortion improves a young woman’s educational outcome. Hill provides a report by Battle Creek which says, â€Å"young women frequent state the issue of unplanned pregnancy and its impact on their financial future and educational as some of the key reasons for seeking abortion. Study findings, legitimates concern, for young women who conceive before the age of 21 and opt for an abortion has better educational outcomes compared to those who conceive before age of 21 and do not go for abortion. â€Å"Abortions Among Young Women and Subsequent Life Outcomes,† by David M. Fergusson et al., published in the March 2007 issue of Perceptiveness on Sexual and Reproductive Health, uses longitudinal data from Christ church Health and Development Study in New Zealand to analyze the extent for the decision abort has advantages to a woman† In an article of â€Å"Pros and Cons about Abortion†, it is argued that, many a times’ abortion helps safeguard woman’s health. There are women who suffer from various hazardous medical conditions such as heart disease, kidney, severe hypertension, and sick-cell anemia. These diseases can be life threatening and an abortion can be used to help prevent these conditions from affecting the mother. It continues to give another reason that, in male chauvinist societies, women are considered nothing more than child bearing machines. Therefore, an abortion provides an individual identity to the woman where she can make a decision on the fate of her child. From my own personal view, trying to look at the stated advantages of abortion, I can say that, there is none. Why, because, one is denying another person a life, same to murder, a fetus, even if still in the womb, its living, its life maturing, it is growing, hence abortion cuts short its life. Arguing from the point of; taking away life of a living thing is so wrong according to

Persuasive text analysis paper Essay Example | Topics and Well Written Essays - 1250 words

Persuasive text analysis paper - Essay Example The use of this art has a notable effect on the public to which it is directed in that it can help to shape a group’s opinions on particular matters. One of the most important speeches in American history utilizes persuasion excellently. It is the ‘I have a dream’ speech by Martin Luther King Junior (King, 2002). King delivered this speech on August 23rd 1963, in Washington to a huge crowd of mainly African American people who had come to listen to him. This speech revolves around the injustices that the black community was continually exposed to during this period. He devised this speech as the start of a revolution against racism that was eating into the United States making the African Americans live impoverished lives (Stewart, 2003). It was a call to not only the black community, but also to the white people to embrace justice in order to ensure equality. As much as the blacks had been freed from slavery almost 100 years back, he explains, true equality betwe en the black and the white folk had not yet been achieved. Racism was still very much a part of their lives, and this affected their living standards significantly. His main problem was mainly the inculcation of this mentality of racial superiority to the young children who did not know any better. It is safe to state that this speechis significant   in the eradication of racism in the United States (Price, 2006). King, in his speech effectively uses persuasion as well as other styles of language that make his speech truly unforgettable. An analysis to determine how effective the art of persuasion was and what effect it had on its audience is conducted. As previously explained, the speech focuses on the problem of racism that was affecting the African American community at that time. King uses the analogy as a language style in order to persuade his audience when also relaying his intended message. An analogy is a style that uses two objects that seem not to be related to each oth er in order to bring out a point. This process is used to provoke the imagination of the listeners to which it is addressed. King uses an analogy of a promissory note that the country provided to the blacks as they were freed from slavery. He states, â€Å"America has given the Negro a bad check; a check that has come back marked ‘insufficient funds† (Lucas, 2001). His analogy employs the use of a well-known object, a promissory note that is a business document that assures or promises and individual of payment at a specified time that both involved parties agree on. King compares the United States’ assurance of equality between blacks and the whites after the abolition of slavery as a promissory note. This promissory note is not valid since it has not fulfilled the conditions it was expected to in the first place. This means that the country has not been true to its word as such; it has given the African American community a ‘bad check’. Resultantly , the African Americans have been forced to live in bad conditions since they do not have the same rights as their counterparts, the white people do. Through this analogy, King altered the way most if not all of his public thought of the issue of racism. It was a problem that they were facing, but they had become complacent since not all their attempts to alleviate the discrimination had been successful. However, this speech gave them a new strength to press for