Corporate Financial Internal Controls

Corporate Financial Internal Controls Whether a business is privately or publicly owned, regulated under a number of United States Government compliance laws, corporations should follow due diligence and incorporate internal controls to ensure accountability in their financial reports. Management is the first line of defense in maintaining the truthfulness in finance of the company. Managers must be alert to the accounting system that is at hand, without this first line awareness, rudimentary protection of the company financial reports would be at risk.In being in the trenches, so to speak, managers need to know the features of the accounting systems that are in use at the company and its controls ( Noordin, 1997). Some of these features include having reliable personnel with clear responsibilities, separation of duties, proper authorization, adequate documentation and cost benefit analysis ( Noordin, 1997). Record keeping is absolutely an essential in conducting business, whether the company is enterprise or small busin ess, records are the core of maintaining accountability in day-to-day activities.English: Figure 16: Set-up and roles within the ex...Having effective internal control techniques is important in keeping the company books "under control," and companies are including the specific controls that are employed in their annual reports, this is considered a good corporate governance practice (Willis, et al, 2000). Even the Security Exchange Commission (SEC) and Financial Accounting Standards Board (FASB) do not require the publishing of the internal controls in the annual report of the company. Over the last ten years, auditors and preparers have reached agreement on some of the routine internal control items to be included in the annual reports (Willis, et al, 2000). These reports now include the following topics within the body of the published works: Financial statement presentation; Purpose, nature and components of the company's internal controls; role of the internal audit, role of th e audit committee, role of the independent auditor...

GLOBAL LOGISTICS AND SUPPLY CHAIN MANAGEMENT Essay - 1

GLOBAL LOGISTICS AND SUPPLY CHAIN MANAGEMENT - Essay Example Therefore, the total cost of the Model needs to be redefined. Carrying cost is constant; the model assumes that carrying costs are constant; however, this might vary depending on the quantity of inventory, economies of scale, increase in storage space, and renting of new warehouse. Independent orders; the increase of orders may increase the cost of saving by reducing the transportation and paperwork. This means that the original EOQ should be modified and developed to deal with the change. In essence, this means that the optimal strategy is computing one product Instantaneous delivery; the model assumes that the orders is delivered instantly; however, this can be modified to include the safe stock. In other words, the model assumes that there was no delay in delivery of stock and the delivered stock is as demanded. The model is based on assumptions hence not accurate; for instance, it assumes that there is a steady demand of the product for immediate restocking. However, the model does not consider variables such as economic fluctuations, as well as, seasonability of some products. Moreover, it assumes that holding charges, ordering costs, and inventory units are constant. This is difficult hence needs a constant monitoring of the inventory levels. In simple terms, the model is limited by the assumptions since the formula does not consider other factors and different products in the same order. Moreover, the model is based on complex mathematical calculations that require an individual to have a good understanding of algebra. This model disadvantages the small entrepreneurs who lack knowledge in calculating such figures. Notably, level production strategy is concerned with producing a plan that helps in maintaining a steady rate of employment and production. Satisfying demand requires that production in a firm be increased and lowered to

Hardware Replacement Project Essay Example | Topics and Well Written Essays - 1750 words

Hardware Replacement Project - Essay Example Management also needs to consider the various factors that are at play when choosing projects that deliver the best business value. It also includes the factors that influence project risk and strategies for minimizing risks. How the five key variables of project management relate to this scenario The five key variables of project management namely scope, time, cost, quality, and risk apply to this scenario in that their proper analysis can guide the management of this project on organizing and accomplishing the work. They also guide on how to direct activities, report project progress, control project execution and analyzing project results. Scope as a variable of project management defines what and what is not to be included in a new project. In this scenario, the organization should define all the work that needs to be undertaken for successful completion of the new CRM solution project. This will ensure that the scope of the project/work/activities undertaken do not expand beyond what was originally intended. In project management, time refers to the quantity of time required to complete a project. Before the new project can begin, the organization requires to establish the time needed to complete major components of the new CRM solution project. ... Since this is an information systems project, the management should also add the cost of software, hardware and workspace. In project management, quality acts as an indicator of the extent to which the result of a project meets the project objectives specified the management. In this scenario, the quality of the new CRM solution is evidenced by the level of improvements in decision-making and organizational performance in regard to customer relations. In project management, risks refer to the possible problems that would threaten a project’s success. As for this scenario, risks include those possible problems that might prevent the new CRM solution from achieving its objectives. They can achieve this by lowering the quality of its output, increasing its cost and time, and preventing the completion of the project. Considerations that must be applied when selecting projects that deliver the best business value When choosing from a range of projects, organizations should select p rojects that deliver the best business value. In essence, these are projects that promise the greatest benefits to the organization. The two major considerations that must be applied when selecting this type of projects include costs and benefits, and how they relate to the organization’s information systems plan. The costs should be lower than the benefits presented by the project but if the costs are more than the benefits, the project should be rejected. In addition, the investment should represent an attractive return on the capital invested by the firm. In order to know this, the organization is required to conduct additional financial analysis after ascertaining that

My Leadership Style Essay Example for Free

My Leadership Style Essay Abstract Leadership is defined as a social influence process in which an individual seeks the participation of subordinates in an effort to research organizational goals. (Kinicki-Kreitner (p.346). My personal leadership style is based on the situational theory of leadership. Based on the type of situation my ability to adapt my leadership style is what makes me an effective manager. My Leadership Style Leadership is defined as a social influence process in which an individual seeks the participation of subordinates in an effort to research organizational goals. (Kinicki-Kreitner p.346) Being a leader in today environment is even challenging than ever. This is due to the pressure for increased transparency due to corporate greed, government pressure and individual corruption. There are great leaders throughout our history such as Martin Luther King, George Washington, and Jack Welsh. However, great leaders don’t have to be good. Barbara Kellerman notes that â€Å"leaders are like the rest of us are: trustworthy and deceitful, cowardly and brave, greedy and generous†. (Kinicki-Kreitner p.346) Hitler, Mussolini, and Stalin are examples of great leaders that use their influence for their own personal gain. Kinicki-Kreitner states that â€Å"to assume that all leaders are good is to be willfully blind (p.346). There are many different leadership styles and different leadership theories that individuals and corporations use. My personal leadership style is based on the Situational Theory. It is also transactional and adaptive compassionate and open. The situational theory of leadership is based on the effectiveness of a particular style of leader behavior depends on the situation. As the situation changes, so does the leadership style of the leader. As a retail manger managing 103 employees, my leadership styles changes on a daily basis. Things are always changing in this fast pace environment. Rules,  regulations, personal challenges, customer issues, are some of the many challenges that my managers and I face on a daily basis. I relate very well to Fiedlers’ situational model of leadership. His model is based on two factors. The first factor is that the degree which the situation gives the leaders control and influence is the likelihood the leader can successfully accomplish the job (Kinicki-Kreitner p.352). The second factor is based on how the leader is motivated. Is he or she motivated for accomplishment of the task or for close and personal relations? (Kinicki-Kreitner p.352) Based on these assumptions, my leadership style is based on build relationships. I value building relationships with people. I believe that building structured relationships with my employees will give them confidence in me and my ability to lead them. Making hard decisions such as hours reduction was easier to communicate to my employees because of the relationship that I built with them. They were able to understand and accept that this was necessary for the greater good of keeping the store open and profitable. This leads me to believe that I have a high amount of situational control within my environment. Situational control refers to the â€Å"amount of control and influence a leader has in his or her environment† (Kinicki-Kreitner p.352) There are three dimensions of situational control. They are Leader member relations, task structure and position power. I relate to all three dimensions with leader-member relations being the highest. Due to the relationships that I have built within my organization, I have the support, loyalty and trust of my assistant managers and my hourly employees. Leaders in today’s economic and political conditions must me servants and not dictators. Robert Greenleafs servant-leadership approach emphasizes â€Å"increased service to others† through a holistic approach.(Spears p.1) Larry Spears in â€Å"Practicing Servant-Leadership† states that the â€Å"great leader is first experienced as a servant to others work, promoting a sense of community, and a the sharing of power in decision making† (p.1) Being a servant-leader is a approach that I use within my organization. By holding daily huddles and having my employees state their opinion on any issues allows them to feel involved in the daily operation of running the store. Having an open heart is also an important aspect to my leadership ability. Ronald Heifetz and Marty Linsky in â€Å"Leading with an Open Heart†, states that  if we â€Å"lose our capacity for innocence, curiosity, and compassion. Our innocence turns to cynicism, our curiosity turns into arrogance and our compassion turns into callousness†. (p.2) Being a leader in my organization is very challenging. However, the situation theory allows me to adapt to each and every challenging situation on a daily basis. Managing with an open heart and being a servant leader will allow me to take on any challenges without becoming a dictator or being resentful in the decisions that I make. The ultimate key to my leadership style is building relationships. Building structured relationships allows loyalty, respect and confidence that I get from my employees knowing that I will lead them in any situation. References Kinicki, A., Kreitner, R. (2009). Organizational Key concepts, Skills, Best Practices. (4th ed.). Ashford University Heifetz, R. Linsky, M (2002) Leading with an Open Heart. In the Leader to Leader Journal Retrieved February 10, 2010 from http://www.leadertoleader.org/knowledgecenter/journal.aspx?ArticleID=127 Spears, L. (2004 Practicing Servant-Leadership. In the Leader to Leader Journal Retrieved February 10, 2010 from http://www.leadertoleader.org/knowledgecenter/journal.aspx?ArticleID=51.

US Soldiers and Their Relationship With Society in America After the Vi

US Soldiers and Their Relationship With Society in America After the Vietnam War Imagine playing in the NCAA National Championship game in front of 50,000 people and millions of others watching via their televisions at home. After an intensely fought game the final score indicates that a loss was suffered. Hopes and dreams of winning a National Championship are gone and one can only contemplate what could have gone the other way and what may be in store for next season on the journey home. Once arriving to campus the cheers and mass distributions of congrats are heard by those in the surrounding society for the effort and hard work exhibited by the players on the team. Although defeat was endured, positivity still lingered amongst the community. The story of the losing team in a National Championship game is seen numerous times every year. However, the relationship the society of America displayed with the returning soldiers from the Vietnam War had a negative aura that is still shown over 30 years later. The Vietnam War was filled with controversy from the beginning and it has yet to end today. The Vietnam Veterans in America suffered from social, physical, and psychological problems that only complicated their relationship with society and is portrayed statistically and through examples from soldiers since the day they returned from the battlefield. The Vietnam War was an extremely controversial war that took the lives of many Americans and resulted in America’s first losing campaign. The U.S. was involved in Vietnam since World War II supporting Ho Chi Minh and his Communist forces against Japanese occupation. After the result of an incident involving two US vessels, President Lynden Johnson ordered jets to bom... ...amongst the society and the individual soldiers may roam for years to come. Hopefully the next time America is faced with entering war the players come home from the championship game with a win and a remarkable homecoming. Learn more about the Vietnam Veterans and the Vietnam Memorial (1) Lembcke, Jerry. The Spitting Image: Myth, Memory, and the Legacy of Vietnam. New York: 30. (2) Lembcke, 30. (3) Dean, Eric T. Jr. Shook Over Hell: Post-Traumatic Stress, Vietnam, and the Civil. War. Cambridge: 183. (4) Edwards, Adam Charles. Personal Interview. (5) Lembcke, 32. (6) Lembcke, 1. (7) Lembcke, 31. (8) Witteman, Paul A. â€Å"Lost in America.† Time, 11 February 1991: 76-77. (9) Witteman, 76. (10) Witteman, 77. (11) Witteman, 76. (12) Witteman, 76. (13) Witteman, 77. (14) Dean, 195. (15) Dean, 196.

Counseling Case Study Essay

Introduction – Robert is a 46 years old high functioning male. He just recently got divorced and he self-referred himself for counseling. On the first session, he denied any of problems between him and his wife. He doesn’t seem painful about living away from his children. He didn’t describe well about his feelings and emotions. Therefore, we will mainly use Cognitive Behavioral Therapy. CBT builds a set of skills that enables an individual to be aware of thoughts and emotions; identify how situations, thoughts, and behaviors influence emotions; and improve feelings by changing dysfunctional thoughts and behaviors. Once he gets to know him better, he will see more improvement. Treatment Plan – Problem: 1. Lack of relationship with children 2. Have not notice the reasons about recent divorce 3. Avoidance, denial and isolation 4. Possibility of low self-esteem 5. Highly functional at work and outside the house only Goals: 1. Increase self-worth, self-value and self-image 2. Develop the ways to have fun 3. Recovery the relationship with ex-wife for himself and his children Plan: 1. Assigned homework – making plan for weekend activity 2. Develop a relationship with his children 3. Writing journal about his feelings 4. Self-evaluation(find what kind type of person, what he likes) Conclusion Divorce is 2nd stressful change in life.(1st is of Death of spouse) Client needs time for adjusting changes. Even though he is high functioning, he is having a hard time coping with his divorce that he claims was unexpected and  to him everything was fine. During this case study we came to an understanding on what he think is important and what he will be willing to work on. He will be given homework and will journal about his feelings, what he would like to improve and the type of relationship he wants to develop with his children. He will be given the proper tools on how to manage his coping skills and will learn to validate how hard his changes are going to be. We will monitor his progress and decide what type of adjustment is going to be needed for his recovery. Resource (Reference) Jeffery A. Cully, PH.D. & Andra L. Teten, PH.D. A Therapist’s guide to brief cognitive behavioral therapy Meeting with Military & Family Life Counselor â€Å"Dee Moriaty†

Survival of the Sickest Essays - 859 Words

Survival of the Sickest, written by author Dr. Sharon Moalem, is a book discussing why evolution has not allowed for the destruction of certain diseases. He states that these deadly diseases, such as Anemia, Hemochromatosis, and High Cholesterol, are in fact tools that evolution used to help the human race survive. He explains how these diseases helped fight against more dangerous and life threatening sicknesses such as, Malaria, the Bubonic Plague, and Vitamin D deficiency related illnesses. The main idea of this book is a simple one. Evolution did not necessarily favor adaptations that made us better. Instead, it favored adaptations that helped us survive. Even if these adaptations would end up killing us in the long run. This book†¦show more content†¦The subject matter itself is also an interesting and entertaining combination of fact and speculation. The author is not scared to go off on a limb and suggest seemingly unreasonable ideas and then quickly uses scientific facts to back up his speculation. For example he explains how the wood frog completely freezes itself in the winter in order to survive. In the spring it thaws out and returns to the normality of living. He uses this example to explain that one day cryogenic freezing could be an effective life sustaining tool. He also says that diabetes is caused from an ice age by the name of the Younger Dryads. As unbelievable as it sounds, he proves that it is a logical argument using scientific facts and research. He also takes the reader on a history lesson in order to explain why diseases helped the human race. The population today may not need Hemochromatosis to protect against the bubonic plague, but at one point in history, only those with this deadly disease survived the onslaught of the Black Death. The simple writing style and lightness of the somewhat delicate topic makes this book a fantastic read that can be enjoyed by a range of people. Experts in the subject field of biogenetics and curious high school kids can both appreciate this book for what it is; and insightful, fascinating, fresh look at the world of biogenetics and what it can mean for you personally. I say personally because scientists have com toShow MoreRelatedSurvival Of The Sickest By Sharon Moalem1806 Words   |  8 Pages â€Å"What doesn’t kill us, makes us stronger† (p. 28). In the scientific novel Survival of the Sickest by Sharon Moalem with Jonathan Prince, self-acclaimed â€Å"Medical Maverick† Dr. Moalem makes in-depth analyses of current human diseases that, ironically, may have led to the survival of mankind in the past. He presents a novel concept that greatly contradicts what have been universally accepted beliefs surrounding biology and the process of human evolution for a long time. With the use of myriad scientificRead MoreSurvival Of The Sickest By Sharon Moalem1628 Words   |  7 PagesJamie Zeng ID #: 5982 Stuyvesant High School Summer Reading Assignment 2015: Survival of the Sickest â€Å"What doesn’t kill us, makes us stronger† (p. 28). In the scientific novel Survival of the Sickest by Sharon Moalem with Jonathan Prince, self-acclaimed â€Å"Medical Maverick† Dr. Moalem makes in-depth analyses of current human diseases that, ironically, may have actually been beneficial to the survival and evolution of mankind throughout its existence on Earth. With the use of myriad scientific studiesRead MoreSurvival of the Sickest Chapter Summaries Essay1288 Words   |  6 PagesChapter 1 Summary In chapter one it talks about how hemachromatosis is a hereditary disease and it’s the most common genetic disease for people of European descent, in which the body cant register that it has enough iron. So it keeps absorbing as much of it as possible, and this can have very, serious side effects (including death). Iron is very important for bacteria, cancer, and other things to grow. The way this disease is most easily treated is blood letting. Looks like all those crazy blood-lettingRead MoreSurvival Of The Sickest : The Surprising Connections Between Disease And Longevity1058 Words   |  5 PagesBiology, more specifically evolution, is the reason why I find science so interesting. Survival of the Sickest: The Surprising Connections Between Disease and Longevity was right up my alley, and one of the most thought-provoking books I have ever read. It was also very different from most books I read, since non-fiction books are usually not my first choice. However, I am very ha ppy that this book was a part of the summer assignment not only because I enjoyed it, but also because how it will helpRead MoreCharles Darwin s Survival Of The Sickest By Dr. Sharon Moalem2195 Words   |  9 Pagesway to adapt to their environment and produce more offsprings. As discussed in the novel of Survival of the Sickest, written by Dr. Sharon Moalem, Moalem gives readers an evolutionary approach to the mystery behind modern day diseases by looking into the past. For my purpose, I will be discussing the evolutionary advantage behind three crucial diseases that were vitally important for our ancestors survival which are diabetes, hemochromatosis and favism. Modern day diabetes is one of the most commonRead MoreLife Is A Constant State Of Creation1448 Words   |  6 PagesAs writer Sharon Moalem said, â€Å"life is in a constant state of creation.† (Survival of the Sickest, paperback version, p.139), and it is true. For centuries organisms have been changing and †˜creating’ entire new species to be able to survive and reproduce. Evolution, the process in which all living beings have been developing from their earlier forms, occurs over and over again and will continue doing so to be able to keep the species alive and well fit to live in their current given environmentRead MoreDr. Sharon Moalem And Jonathan Prince1264 Words   |  6 Pagesscientific book Survival of the Sickest . They discuss that if diseases weren t helpful, shouldn t they have been eliminated through natural selection or shouldn t humans have developed resistance to them through the use of evolution? Moalem and Prince answer the questions by going back in time and analyzing the uses of diseases, and come across surprises that may help humans in the future as they may have in the past. Though Moalem and Prince discussed many diseases in their book Survival of the SickestRead MoreDiseases And Viruses Are Preventable Harmful, Dr. Sharon Moalem1280 Words   |  6 Pa gesin their blood to create heat.† In addition, in areas of cold weather more people are diagnosed with diabetes. Thus, it is easy to imagine that people with diabetes had an advantage over other people during the time of the Younger Dryas. Survival of the Sickest has definitely modified my perspective of diseases and inheritance. I would never have thought that diseases could have actually helped us, however if you think about it, it seems reasonable because if diseases were bad for us, evolution wouldRead MoreMedical Allocation And Its Effects On Society773 Words   |  4 Pagesbe increased by allocating aged donors to aged beneficiaries, in light of the fact that the shorter expected joining survival of more established kidneys might be less grave for more seasoned beneficiaries, who are not anticipated that would live the length of a more youthful beneficiary. Since the survival of transplant beneficiaries of all ages is more noteworthy than the survival of patients on dialysis, it is contended that it is ideal to utilize more seasoned perished benefactor kidneys thanRead MoreGlobal Health 101 : Universal Declaration Of Human Rights Essay1024 Words   |  5 Pages100. A score of 20 means the kidney is expected to last longer than 80% of available kidneys. The score is a reflection of the age and health of the donor. On the recipient side, the comparable measurement is called the Estimated Post Transplant Survival (EPTS) score. The scale is the same, zero to one hundred and here too a score of twenty means the recipient is likely to need a kidney longer than 80% of all recipients. The factors that go into calculating the EPTS score include age, length of time