Case 3.1 Enron: Understanding the Client’s Business and Industry Price‚ Ria; Walters‚ Jessica 1. Inherent risk‚ a component of the audit risk model‚ refers to the susceptibility of the accounts to material misstatement‚ without regard to the systems internal controls. Inherent risk is a function of the nature of the client’s business‚ the major types of transactions‚ and the effectiveness and integrity of its managers and accountants. A clear understanding of the audit client’s business model is essential in assessing
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Case 3 LEADERSHIP STYLES AND MOTIVATION TO WORK Brako is a small manufacturing company that produces parts for the automobile industry. The company has several patents on parts that fit in the brake assembly of nearly all domestic and foreign cars. Each year‚ the company produces 3 million parts that it ships to assembly plants throughout the world. To produce the parts‚ Brako runs three shifts with about 40 workers on each shift. The supervisors for the three shifts (Art‚ Bob‚ and Carol) are experienced
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Automobile Pollution. Automobiles can cause many different kinds of pollution in the environment. Air‚ health and groundwater pollution are of the most common. The reasons for these problems can be contributed to exhaust systems and light switches that are standard equipment on most cars today. Older and newer cars alike are equipped with a catalytic converter system. Which are supposed to convert hydrocarbons‚ carbon monoxide and nitrogen oxides into harmless materials emitted from the automobiles
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Chapter 3 risk and challenges IN EMERGING MARKETS Introduction This chapter will expose the students on potential risks faced by firms that are doing or currently planning to enter an emerging market. This chapter will detail each and every element of political‚ economic and legal risk. Discussions on how to reduce the impact of risks are also discussed at the end of the chapter. OBJECTIVES After studying this chapter‚ students should be able to: 1. Describe political‚ economic and legal
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History of Automobiles Automobiles also known as Cars‚ Trucks and SUV’s are a very important part of our everyday lives. Automobiles have been around a lot longer than most people think. In Europe‚ automobiles date back to as early as the late 1700’s. European engineers began thinking of developing the first automobile to make life easier. By the mid 1800’s they began to think over how the automobile would run. Some manufactures tried using stream‚ combustion‚ and electrical motors to run their
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1800 ’s. By the 1900 ’s‚ it was uncertain which type of engine would power the automobile. At first‚ the electric car was the most popular‚ but at the time a battery did not exist that would allow a car to move with much speed or over a long distance. Even though some of the earlier speed records were set by electric cars‚ they did not stay in production past the first decade of the 20th century. The steam-driven automobile lasted into 1920 ’s. However‚ the price on steam powered engines‚ either to
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EasyStreet; Porsche gets into the business. (2002‚ December 16) with no author Porsche was invented by a German guy called Ferdinand Porsche in 1900. who was a young engineer and owner of a motor cycle company. ii. It took Ferdinand almost 3 years to come up with design of his first Porsche car called 356‚ which impressed the German government. One month after the first car 356 left the factory it won its first race and Ferdinand was encouraged by the government to design more models
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Case 11-2(b) Fair Value Disclosures Case 11-2(b) is an extension of Case 11-2(a). For this case‚ assume that the Case 11-2(a) facts remain‚ with the exception of the additional assumptions listed below for each security. As stated in Case 11-2(a)‚ Family Finance Co. (FFC) accounts for its investments at fair value‚ with changes in fair value reflected either in earnings (for trading securities) or other comprehensive income (OCI) (for available-for-sale (AFS) securities). 1 Because FFC uses
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Running head American Values Susan Haskins Rasmussen College Author Note This research is being submitted on July 23‚ 2011 for an assignment due on July17‚2011 for G142/SGY1000 for Sociology American Values I choose Freedom‚ Equality‚ and Group Superiority as my three values and how they complement as well as contradicts each other. My first is Freedom what this country was supposed to be founded on‚ the one reason why the English broke away from England‚ the people were tired of being
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Case EPR purchase decision at Benton Manufacturing company ITM R 6:00pm-10:00pm FALL 2014 Date:11/13/2014 INTRODUCTION (5 Points) Benton Manufacturing Company‚ Inc.‚ is a U.S. manufacturer of consumer durables with reported net sales in 1998 of nearly $1billion and operating profits of almost $180 million. In North America alone‚ the company operates 7 factories and 57 distribution centers while employing 5‚200 people. Recently‚ through the acquisitions of several companies Benton’s product lines
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