ARVI MARIE S. CALONZO BSA 4B Applications of Internal Control to Cash Receipts ---Cash receipts may result from cash sales; collections on account from customers; the receipt of interest‚ rents‚ and dividends; investments by owners; bank loans; and proceeds from the sale of noncurrent assets. ---The following internal control principles explained earlier apply to cash receipts transactions as shown: Establishment of responsibility - Only designated personnel (cashiers) are authorized
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Case Study Project What is the purpose of auditing? Describe the relationship between internal controls and the audit process. Answer The purpose of an audit is to provide financial statement users with an opinion by the auditor on whether the financial statements are presented fairly‚ in all material respects‚ in accordance with the applicable financial reporting framework. An audit also enhances the degree of confidence of intended users in the financial statements. Financial audits
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interrogatory. Should I be moral? If I should be‚ then why? Why is morality important to society? An assumption can be made that morals derive from a purely religious perspective or the Golden Rule approach. We are told that it is right to be moral. This is an ineffective answer‚ since it does not apply to someone outside the moral circle This in mind‚ there is really no way to prove this too a person who wants to know why he/she should be moral. According to Olen‚ the only answer
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Gun Control There should be a crackdown on guns. Is this world safe from gun violence? We all know this world is really out of control with the use of guns and it seems like as the years passed by‚ there have been so many killings happening that involving a gun. Also‚ just about anybody on the street can get their hands on a gun and you don’t have to buy it from a store. Maybe if there was a big crack down on guns it wouldn’t be so many needless deaths. It seems like as the years goes on there are
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legitimate‚ it may be called a legitimate order. The three kinds of legitimacy that determine the existence of sovereignty are rational legitimacy‚ traditional legitimacy‚ and charismatic legitimacy. Rational legitimacy is the accord of a people with all claims and acts that are clearly defined as to meaning and objective and that are governed by respect for legal regulations. Traditional legitimacy is accord with claims and acts of rulers because these rulers have "always" made these claims and committed
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Gun Control is good because it can prevent any robberies or any other kind of crime. Another reason gun control is good because age’s that are not 18 or older could not buy a gun without their identity to show if they are old enough to buy a gun to prevent that child or young adult to get hurt. You should have a gun if you are using it such as a tool or using it for protection‚ if you need a gun you should ask a sheriff or someone that carries a gun on their side you should ask them if you need
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Copy Is Texting Language Really Appreciated? In Texting: Why All the Fuss? By David Crystal‚ a chapter from Txting: The Gr8 Db8‚ he mentions‚ “Texting is just another variety of language‚ which has arisen as a result of a particular technology.” In the excerpt Crystal talks about the drawbacks and benefits of texting. His main focus in the text is how texting has influenced grammar in teenagers. But‚ are the teenagers really the only ones to blame in this situation? Is it the parents? Or maybe the
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The everyday automobile would seem like a silly thing to give up with all its amazing factors. But do the bad factors outweigh the good ones? Cars are becoming a large problem in our nation‚ with the effects they are creating on the atmosphere and world’s environment and people’s health‚ the dangers of driving‚ and the outrageously high costs they have‚ even when there is an easy alternative for the trouble of automobiles. When most people think of the negative side of cars‚ they might think
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One Health- Exam One 1. A) Why is the One Health paradigm important? The One Health initiative is a change in basic assumptions that focuses on surveillance of the environment‚ animals‚ and humans to predict occurrence of an outbreak before it happens. This is important in improving the health of communities because preventative measures will be used and it also makes people aware of what could happen if preventative measures were not taken. Scientists and doctors worldwide collaborate to develop
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Internal Controls for Local Government A Training Presentation for City of Tampa’s Leaders Training Objectives What you should know after this class: • • • • • Types of risk Who commits fraud and why Internal controls - who needs them 5 internal control components What you can do! 2 What are Internal Controls? To put it simply‚ internal controls are an exercise of common sense. You are practicing good internal controls when you? • Balance your checkbook • Keep your ATM/debit card
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