Auditing Essay Example

Auditing Essay 5(a) Prepare a memo to the partner making a recommendation as to whether Barnes and Fischer should or should not accept Ocean Manufacturing, Inc. as an audit client. Carefully justify your position in light of the information in the case. Include consideration of reasons both for and against acceptance and be sure to address both financial and nonfinancial issues to justify your recommendation. MEMORANDUM To:Jane Hunter From:Corrine Subject: Ocean Manufactory Should be Accepted Date:February 3, 2012 Ocean Manufacturing, a medium-sized manufacturer of small home appliances, is our prospective client. First, we should decide whether to accept this client. The purpose is to minimize the likelihood that our auditors will be associated with clients who lack integrity. We can reduce the risk that material misstatements may exist and not be detected by the author. Therefore, we need to investigate the client and obtain certain information that we need. The first step to evaluate the client is to confer with the predecessor auditor. The client granted me permission to contact the previous auditor and he indicated the problems the firm had with Ocean: (1) complexities and problems with Ocean’s new IT system 2) management’s tendency to aggressively reflect year-end accruals in order to meet creditors’ requirements As far as we know the company switched to a new system in 2011 and the transition to the system was not well managed. The company was working to modify the system to make it better. Also, our local office’s IT team is fairly confident they will be abl e to diagnose Ocean’s control weakness and help Ocean overcome current difficulties. Therefore, the system is not an obstacle for our firm to accept the client. We will write a custom essay sample on Auditing specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Auditing specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Auditing specifically for you FOR ONLY $16.38 $13.9/page Hire Writer To meet creditors’ requirements, the management inappropriately reflected year-end accruals. The information reflected on the integrity of management, which might be a risk for us to accept the client. According to the predecessor’s assertion, the reason for the change of auditor is a disagreement over the fee. And the president of Ocean Manufacturing indicated that the main reason for the switch is to build a relationship with a more nationally established CPA firm. Whatever the true reason is, neither will be serious problem regarding accepting the client. We can refer to the fee in the engagement letter before all the auditing work begin. We don’t have a client in the home appliance industry and the industry has been growing at a steady peace. Therefore, the engagement will be a great opportunity for our company to enter a new market. According to the financial reports, we can get some information: On December 31, 2011, the financial report indicates a net profit of $3. 4 million and the net earnings are increasing steadily from 2009 to 2011, which means the company has potential to some extent. According to all the information, we find that the client is able to be accepted. 5(b) Prepare a separate memo to the partner briefly listing and discussing the five or six most important factors or risk areas that will likely affect how the audit is conducted if the Ocean engagement is accepted. Be sure to indicate specific ways in which the audit firm should tailor its approach based on the factors you identify. MEMORANDUM To:Jane Hunter From:Corrine Subject: the Risk Areas if the Ocean Manufactory is Accepted Date:February 4, 2012 Ocean Manufactory is a potential company and so is the industry. When our firm accepts the client, we will have an opportunity to explore the new market. Nevertheless, we can not ignores the risk we face. There are some risk areas we should consider since they will likely affect how the audit is conducted. The risk areas are as following: Home Appliances Industry The home appliance industry is a new industry for our firm and we have never had a client in this field. That means we are not familiar with this industry and lack the necessary expertise. In order to solve this problem we need specialists who do have the necessary expertise. The specialists’ work n this field can be used by our auditor to obtain sufficient audit evidence. Management The company experiences a significant management turnover. The new controller has little relevant experience and is not familiar with the company’s IT system. In this situation, the new controller can attend relevant training and talk to people who have more knowledge about the system to be more to familiar with the system as soon as possible. Accounting and Control System The new accounting system which maintains inventory, accounts receivable, accounts payable and so on was not well managed. Some problems will exist in balance sheet account classification and inventory tracking due to untrained personnel. Employees should obtain some training on the new system to help them work efficiently and effectively. Besides, our local office’s IT team can diagnose the control weakness and help them to overcome the difficulties. Internal management Some important reports like internal management budget reports and receivable billings are often late and inaccurate. The weak management will result in many serious problems. The Ocean Manufactory should strengthen the internal management and improve the effectiveness of the risk management control. Only in this way, the accountants can get the accurate and timely reports which is significant to our auditing process. 5. According to the previous auditor, the management tends to reflect the accruals aggressively in order to meet the creditors’ requirement. Facing the situation, we should try to talk to the management to figure it out. If the statement of the previous auditor is true, we will suggest the management to reflect the accruals accurately.

Highly Successful Parent Teacher Communication

Highly Successful Parent Teacher Communication One of the most beneficial aspects of teaching is building positive relationships with parents. Effective parent-teacher communication is essential for a teacher to be successful. A good relationship between parents and a teacher is invaluable towards maximizing the time that the teacher has with that student. A student who knows that the teacher communicates on a regular basis with their parents and who knows that their parents trust the teacher will likely put more effort into school. Likewise, a student who knows that the teacher rarely or never communicates with their parents and/or their parents do not trust the teacher will often pit the two against each other. That is counterproductive and will create problems for the teacher and ultimately issues for the student as well. Many teachers underestimate the value of building relationships with their students’ parents. Parents can be your best friends, and they can be your worst enemy. It is hard work for a teacher to build trusting cooperative relationships, but it will be well worth all the effort in the long run. The following five tips can help teachers build solid relationships with the parents of the students they serve. Build Their Trust Building a parent’s trust is often a gradual process. First of all, parents need to ensure that you have their child’s best interest at heart. Proving this to some parents can be challenging, but it isn’t impossible. The first step to building their trust is simply letting them know you on a more personal level. There are obviously personal details that you don’t want to give to parents, but don’t be afraid to talk casually with them about hobbies or interest outside of school. If a parent has a similar interest, then milk that for all its worth. If a parent can relate to you, then the communication and trust between you will likely be solid. Don’t be afraid to go the extra mile to help a student. This can win trust and respect faster than anything. Something as simple as a personal call to check on a student who has missed a few days due to illness will stand out in a parent’s mind. Opportunities like this present themselves from time to time. Don’t waste those opportunities. Finally, allow them to see you’re a terrific teacher with their child’s best interest in mind. Demand respect from your students and push them to succeed, but be flexible, understanding, and caring in the process. Parents who care about education will trust you if they see these things. Listen to Them There may be times that a parent has a question or concern about something. The worst thing you can do in this case is to be defensive. Being defensive makes it seem as though you have something to hide. Instead of being defensive listen to everything they have to say before you react. If they have a valid concern, assure them that you will take care of it. If you made a mistake, admit it, apologize for it, and tell them how you plan to remedy it. Most of the time a parent’s questions or concerns come down to miscommunication or misconceptions. Don’t be afraid to clear up any issues, but do so in a tone that is calm and in a manner which is professional. Listening to them is just as powerful as explaining your side. You will find more times than not that the frustration is not with you, but instead with their child and that they simply need to vent. Communicate Often Effective communication can be time-consuming, but it is crucial. There are many ways to communicate these days. Notes, newsletters, daily folders, phone calls, emails, visitations, open room nights, class web pages, postcards, and parent-teacher conferences are some of the most popular means in which to communicate. An effective teacher will likely use several means over the course of the year. Good teachers communicate frequently. If a parent hears it from you, there is a lesser chance of something getting misinterpreted in the process. An important thing to note is that most parents get sick of only hearing unpleasant news about their child. Pick three to four students per week and contact their parents with something positive. Try not to include anything negative in these types of communications. When you do have to contact a parent for something negative like a discipline issue, try to end the conversation on a positive note. Document Every Communication The importance of documenting cannot be underscored. It doesn’t have to be anything in depth. It needs to include the date, parent/student name, and a brief summary. You may never need it, but if you do, it will be well worth the time. No matter how strong of a teacher you are, you will not always make everyone happy. Documenting is invaluable. For example, a parent may not be happy about a decision you have made to retain their child. This is a process that often spans the course of the year. A parent could claim that you never talked to them about it, but if you have it documented that you did four times throughout the year, the parent has no basis for their claim. Fake It When Necessary The reality is that you are not always going to get along or like every parent of every child that you teach. There will be personality conflicts, and sometimes you just don’t have any similar interest. However, you have a job to do and avoiding a parent is ultimately not what is best for that child. Sometimes you will have to grin and bear it. While you may not like being fake, building some sort of positive relationship with their parent will be beneficial to the student.  If you try hard enough, you can find some kind of common ground with just about anyone.  If it benefits the student, you must be willing to go the extra mile even it is uncomfortable at times.

Human Behavior Essay Example | Topics and Well Written Essays - 750 words - 1

Human Behavior - Essay Example On this account, diversity management spells that incorporating a diverse workforce in an organization is indispensable to tapping into international markets, adapting to the varying business environments, and taking advantage of the rising opportunities. Diversity management thus embodies appreciation of differences in human behaviour and fully capitalizing on them to ensure optimal organizational performance. This paper reviews the role played by cultural diversity and ethical differences in organizational functionality and overall the performance. Seymen O. A. (2006) reviews the concept of cultural diversity and the different approaches to managing the diversity in an organizational set-up. Cultural diversity here is defined as a mixture of different people having distinct identities in matters pertaining to behaviour, traditions, and attitudes towards some issues. Cultures tend to differ as one moves from one geographic location to the other. Therefore, since business operations are no longer limited by geographic boundaries, it is almost impossible for an organization to operate successfully operate on a global scale without a culturally diverse workforce. Workers belonging to a given culture have a very distinct way in which they express their ideas and perceive the various issues in the corporate world. For instance, some cultures have negative perception about the idea of women dressing in tight trousers. On the other hand, there are those cultures which permit the freedom of dress code. Therefore, an organization having members drawn from such a diverse workforce must acknowledge this variations and effectively learn to manage the diversity. The other aspect of human behaviour which exhibits considerable diversity is in so far as matters of personal ethics are concerned. Just as is the case with culture, ethical standards which a person subscribes too is

Exchange risk Research Paper Example | Topics and Well Written Essays - 3250 words

Exchange risk - Research Paper Example Foreign exchange rates have an impact on the economic society as discussed. Low exchange rates are a signal to the recession economic period and consequent political instability. Conversely, substantial rates of exchange are a sign of stable commercial conditions for a country. The exchange rates directly affect the international trade. For instance, low exchange rate support activities like tourism and exports in the economy (Howell & PRS Group, 2011). At this point, domestic goods become inexpensive for the foreign buyers. Additionally, foreign currency rates have an effect on investment funds that either move in or out of an economy. The countries that have fluctuating currency are less attractive to investors from overseas. This because all investors are assumed to be risk averse and, therefore, like returns and dislike losses. At this time, foreigners liquidate their real estates, stocks, and bonds just because such derivatives are losing purchasing power to rival investments in other countries. Foreign investors prefer making financial investments when they think that price in them will be conserved as international profits are ultimately converted back to their domestic currency. The foreign exchange rate leads to an economic growth: it is true that the higher the price of the net exports, the higher the nation Gross domestic product. The country’s GDP is given as C+I+G+(X-M) Where C = consumer spending, C= capital, I= investment by the businesses and households, G= government spending and (X-M) = net exports.

Prisoners Of War In Japan Ww2 History Essay

Prisoners Of War In Japan Ww2 History Essay The Japanese attack against the United States in Pearl Harbor happened so quickly that most Americans were captured in the opening weeks of World War II. The Japanese captured a total of 140,000 American soldiers and held them in Japanese camps from 1942-1945. These prisoners were treated cruelly and inhumanely by their captors. In fact, more prisoners died in Japanese camps than did in German war camps. To prevent enemy soldiers from returning to their troops, the Japanese held prisoners of war in horrible camps throughout Japan, forced them to work in horrendous conditions, and treated them inhumanely. The living conditions the prisoners had to endure on the way to the camps was truly awful. When transported, the men were crammed into rusty old freighters and spent several nights in these hell ships (The POW Camps). The men on the ships had no room to move, were ill with dysentery and had very little food. Sometimes they were transported from one hell ship to another on their journeys to work camps. The camps were surrounded by barbed wire and closely guarded by Japanese soldiers (Wukovits 37). Prisoners of war slept in crowed barracks on mats (World War Two Japanese) and slept eight to thirteen prisoners to a room (Wukovits 37). Because the living conditions were so bad, the health conditions in the camps were also horrendous. In 1942, the Japanese decided that each prisoner would get fifteen ounces of rice or barley, a few vegetables and sometimes a few bits of meat each day (Wukovits 39). They suffered from starvation, malnutrition, ulcers and cholera (World War Two Japanese). 1-in-3 prisoners died from starvation, work, or diseases (World War Two Japanese). More prisoners died from disease and illness than from torture. The Japanese took no pity on the sick. If they were incapable of doing their assigned task because of their illness, they were made to do other jobs and their allotment of food was cut in half. Many men died because they were starved to death. One structure in each camp was known as the Zero Ward, because men who entered the ward with illness did not leave it alive (Wukovits 63). The prisoners of war were treated as slaves by the Japanese. In May 1942, the Japanese Prime Minister announced a no work- no food policy (Wukovits 39). They were forced to work in mines, fields, shipyards and factories (World War Two Japanese). Prisoners had to build bridges, dig ditches, garden and raise chickens. One of the most famous work assignments was the Burma-Thailand Railroad. Prisoners of war were forced to work side-by-side with Asian laborers to build the 260 mile railroad by hand. They worked from dawn until dusk moving earth and building bridges for 10 days straight (World War Two Japanese). They worked 16- hour days in 50-man teams cutting down trees, building roads and laying ties for the railroad (The POW Camps). Prisoners did not remain in the same areas for long. They were shipped off to various camps throughout Asia. A camp near Changi was the most notorious POW camp where prisoners who did not work were not fed (Trueman). In the beginning, the prisoners of Ch angi were not asked to do much and had plenty of food. However, in Easter of 1942 the Japanese changed their minds and formed work parties providing the men with very little food (Trueman). Many of the prisoners jobs were in conflict with the rules established by the Geneva Convention, but the Japanese did not care (La Forte, Marcello, and Himmel 115). The Japanese believed in Extreme Measures and treated the prisoners of war inhumanely. Japanese soldiers lived under the code of Bushido which involved complete obedience, bravery, honor and ultimate loyalty (Wukovits 14). The worst offense a Japanese soldier could commit was to surrender in battle. By this action he shamed his action and village, and his name would be removed from the towns registry (Wukovits 14). Therefore, American soldiers who surrendered were considered to have dishonored their country and were treated with contempt. Prisoners who tried to escape were killed either in groups or individually (Gevinson). The aim was to not allow a single escape, but to annihilate them all and not leave a single trace (Gevinson). One of the many difficulties the prisoners of war were faced with was the language barrier. The Japanese guards spoke very little English and prisoners were forced to learn Japanese to follow commands (World War Two Japanese). Those who did not follow com mands were beaten (Gevinson). Annelex Hofstra Layson in her memoirs of life in a World War II Japanese prison camp as a little girl said, The soldiers did a lot of arm waving and yellingà ¢Ã¢â€š ¬Ã‚ ¦ When we couldnt understand what they wanted us to do, the guards became angry. Their facial expressions would change, and they would start hitting and shoving people around. Even though no guard ever hurt me, I lived in constant fear that one would (41). Prisoners of war suffered horribly in Japanese camps during World War II. The living conditions were barbaric, because soldiers were forced to live in crowded barracks on mats. They suffered from starvation, diseases and malnutrition not only because of their living conditions, but because they were given very little to eat each day. Prisoners of war were forced to work side by side building a 260-mile railroad in 16 hour days doing hard labor with very little food (World War Two Japanese). Injured and sick prisoners were still made to work, but their food was restricted even more. The Japanese believed in a no work no food policy (Wukovits 39). The working conditions violated the laws of the Geneva Convention. Extreme measures were used by the Japanese with the prisoners of war, because they believed the soldiers were dishonoring their country by surrendering or being captured. The aim of the Japanese was not to allow any prisoners to escape. Their main goal was to eliminate all p risoners and not leave any traces of their existence. The Japanese did not speak any English and the soldiers spoke no Japanese, therefore they had difficulty following the commands and were beaten because of this. In conclusion, during World War II Japanese prisoners of war were held in appalling conditions, forced to work as slaves, and were treated inhumanely to prevent their return to their troops and to punish them for abandoning their country. Prisoners of War in Japan WW2

This is Water Summary Essay

Wallace delivered the Kenyon College commencement address that was not the typical commencement address you would normally hear at a graduation. He starts off his speech by telling a story having the idea that even the most â€Å"important realities are often the ones that are hardest to see and talk about. † He talks about living in the adult world that these soon to be graduates will enter and how it can be ere dull at times.And how learning about how to think about the choice we make in our life, the choices we make will impact our life whether it be a good impact, or a bad impact. Wallace delivers this speech (in a way to get these graduates not necessarily discouraged) giving the former students a face of reality that life is dull when you go through the same thing every day. And that when people go through the same thing â€Å"day in and day out† people tend to forget about the others around us.When forgetting about the other people around us occurs, Wallace belie ves that makes us believe that we are the â€Å"center of the universe. † This way of thinking as Wallace states is to be our â€Å"default setting† where we tend to block everyone our except for ourselves and if anyone gets in our way, then they must the ones at fault. Wallace also states, â€Å"if you really learn to pay attention, then you will know there are other options. † We have the choice to think of those other options, but we also have he choice to not think of those other options.Choosing the option to pay attention to the others around us and not be a â€Å"prisoner of our own brain† could possibly let ourselves live happier lives. Having awareness as Wallace stated, † Is unimaginably hard to do this, to stay conscious and alive In the adult world day In and day out. But, your education really Is the Job of a lifetime. † In conclusion, Wallace believes that we have choices to be aware of and to really think of the choices we make.

The Cheap Term Paper Help Game

The Cheap Term Paper Help Game It's obviously hard to find an excellent cheap customized essay writing service, but don't be concerned about purchasing from our site. Whenever you believe that the term paper you purchased from our company isn't up to the necessary standard or not what you expected, all you need to do is to send it to us, and we are going to do the vital revisions. You can be certain you will get writing help here for a sensible price, since the name of our site suggests. When you purchase term papers at experienced custom writing service, you can be certain to find the help that's well worth every penny. In any case, you'll certainly like our price policy. As you may consider purchasing cheap term papers for sale somewhere else, you won't discover the specific same warranties as we provide and the exact same perks we show our clients! In addition, you ought to know that having low prices doesn't mean that we're going to compromise on the degree of the content! Luckily, our rates are among the most competitive on the market, given that we make a bid to offer high-quality services at the best prices. A History of Cheap Term Paper Help Refuted Worse yet, an individual can get suspended for quite a long time if it's established he or she's involved in plagiarism. One reason why students seek our assistance is our capacity to provide unmatched quality. In such cases, they end up composing low quality term papers and essays which are way below the average grade. As a consequence, such students start looking for the best essay help to make certain that their project is going to be p roduced at the maximal level in accord with all academic standards. Vital Pieces of Cheap Term Paper Help Students employing a writing service need to be conscious of a few things before employing any service. Our writing team is made of experienced pros with various academic backgrounds and they're always prepared to work for you. Our crew of writers is the largest pride of our organization and the major reason behind our high reputation. Our crew of writers has gained a good deal of experience over the past few years from the affordable customized papers they have been writing (in addition to seminars and training they're taken through). There are lots of easy term paper topics to select from, and selecting the best one can make the full research and writing process simpler for you, and guarantee a high grade. You may easily order an example paper which will be written according to your necessary formatting style and topic. It's possible to buy inexpensive term paper at o ur service in a deadline! The manner you could locate a dependable term paper writing service comes in a number of forms. Term paper writer is not just profession, it's calling! It isn't just embarrassing but also demeaning to present a paper that's copied from different authors. Whether it's necessary to create a paper of special flawlessness, just purchase an essay here and our writers will provide help. Even should you need to purchase research paper done in 6 hours, you can rely on us. As soon as you're prepared to order an academic paper, it's time to determine which company that you need to employ. As a result, if you're searching for a professional to compose my research paper, contact us, and we'll offer assist. If you're writing a research paper, and you are searching for assistance from a respectable research paper writing service, you're certainly in the correct location. Vital Pieces of Cheap Term Paper Help Writing is a present that comes naturally. Studying only will help improve your abilities. You're going to be surrounded by writing professionals throughout the plan of order placement, and after you opt to purchase essay and select an allocated writer, things are likely to get even more exciting. The actual folks highly praise our essay help site. Experienced and attentive When you seek the services of an expert essay writer at our service, you obtain an opportunity to cooperate with an individual, who has an extraordinary educational background. Actually, a seasoned writer can get the job done much faster than any student as they've been writing academic assignments during their entire life. But What About Cheap Term Paper Help? What's more, we guarantee your future paper is going to be carried out in compliance with the greatest academic standards, so be confident that applying for our help, you make the ideal alternative. If you are prepared to produce the order, the procedure is simpler than ever! Our website has a user-friendly interface which allows you to pl ace an order in almost no time in any respect. Completely free amendments As the very best essay writing service, we would like you to feel absolutely happy about your purchase.