Week 3 Homework 16-26 Weaknesses in Jameson Company ’s Internal control procedures: INGREDIENTS INVENTORY 1. The raw materials are received by one of the employees of the batching department and it is only at the end of the day that tallies are given to the inventory control department. Reason: There is no control to ensure that the actual raw material signed in is actually received and used. 2. The inventory control department uses weekly reports of production and standard formula to
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Financial management L. Fung AC3059‚ 2790059 2012 Undergraduate study in Economics‚ Management‚ Finance and the Social Sciences This is an extract from a subject guide for an undergraduate course offered as part of the University of London International Programmes in Economics‚ Management‚ Finance and the Social Sciences. Materials for these programmes are developed by academics at the London School of Economics and Political Science (LSE). For more information‚ see: www.londoninternational
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*********************** Definitions as per Section 2 of the Motor Vehicle Act‚ 1988: (40) "Stage carriage” means a motor vehicle constructed or adapted to carry more than six passengers for hire or reward at separate fares paid by or for individual passengers for whole journey or for stages of journey . (7) “Contract carriage” means a motor vehicle which carries a passenger or passengers for hire or reward and is engaged under a contract‚ whether express or implied for the use of such vehicle
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Bookkeepers vs Professional Accountants Many bookkeepers in our world today define themselves as accountants‚ but what is the difference between a Professional Accountant and a Bookkeeper? This essay aims discuss and examine the relationship between each of the occupations‚ examine the differences that sets the two occupations apart and then explore what makes an accountant a professional in today’s world. Comments made by third parties will be looked at in depth in order to reach a fair conclusion
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Subject: Negligence Liability of Accountants ______________________________________________________________________ Facts By law‚ accountants may be responsible for customers that hire them in various legal theories‚ including contract‚ fraud and negligence. Accountant malpractice happened when he or she violates the duty of reasonable care‚ knowledge‚ skills and judgment that he or she is due to a client or to the laws to provide auditing and other services. South Asset Management Co hired
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Traditional and Nontraditional Litigation Paper Carlos Orozco LAW/531 May 20‚ 2013 Lillian Hill Watson Traditional and Nontraditional Litigation Paper According to Cheeseman‚ (2010) the process of bringing‚ maintaining‚ and defending a lawsuit is called litigation. Nowadays‚ this process has been enhanced by annexing non-judicial dispute resolution in the form of arbitration‚ negotiation‚ mediation‚ and quite a few others. These forms are commonly known as alternative dispute resolutions
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Accountant Career Project: Report Business 101 Career Overview Accountants carry the primary responsibility for bookkeeping services such as payroll‚ bank reconciliations‚ general ledger posting‚ along with managing financial statement compilations and oversee efficient use of funds and related tasks. Correspondingly‚ they provide some Human Resource functions such as Employee Handbook compilation‚ and benefits management. Another responsibility of accountant’s is taxes:
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Accounting is more than just adding numbers and being good at math. Accountants have to “ensure that financial records are accurate and that taxes are paid properly on time.” (Bureau of Labor Statistics [BLS]‚ 2012‚ para. 1). There are several different types of accounting. These types include‚ auditors‚ forensic‚ public‚ tax professional‚ financial advisor‚ and consultants. It takes a lot of hard work and dedication to become an accountant. You have to go through years of school to earn your degree‚ already
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Recommendation for an Internal Accountant Recommendation for an Internal Accountant Internal Auditing is an independent‚ objective assurance and consulting activity designed to add value and improve an organization’s operations (What is internal auditing?‚ 2010). Internal accounting control is a series of procedures designed to promote and protect sound management practices‚ both general and financial that will increase the likelihood that: * Financial information is reliable‚ so that managers
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Lawreine The Job Life of Accountants Accounting professionals had a hard time during their school days. They have experienced sleepless nights just to study. They also experienced failures and downs. But at the end‚ they pursued their goals and they became professionals. Accountant is a high-level of career. They have hard tasks every day. An accountant must possess qualitative characteristics that will satisfy the users of financial statements. However‚ accountants have benefits too. Because
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