Risks and Internal Controls for Kudler Fine Foods ACC/542 June 3‚ 2013 Jana L. Highwort‚ MBA University of Phoenix Risks and Internal Controls for Kudler Fine Foods Internal controls are policies and procedures a company uses to ensure the accuracy and validity of their data. Risks are threats to that data that could be internal or external of the company (Hunton‚ Bryant‚ & Bagranoff‚ 2004). The following paragraphs will identify and analyze the risks and internal controls as they relate
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WHAT IS A MODEL? *A model is a physical‚ mathematical‚ or logical representation of a system entity‚ phenomenon‚ or process. *A simulation is the implementation of a model over time. *A simulation brings a model to life and shows how a particular object or phenomenon will behave. -Useful for testing‚ analysis or training where real-world systems or concepts can be represented by a model. *Modeling and simulation (M&S) provides virtual duplication of products and processes -Represents those
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owners on the importance of sound internal controls. Facilitating management’s conclusion on the effectiveness of the design and operations of internal controls within their respective areas Perform process documentation and tests of controls which will be used to support management’s overall evaluation Consolidating results to CEO and CFO for their final conclusion. Educating management and process owners on the importance of sound internal controls. Facilitating management’s conclusion
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Abstract In this assignment I will be looking at what Sarbanes-Oxley Act of 2002 is and why it came to be. How SOX has affected the accounting and auditing industry and what the benefits and costs are and what changes have happened or should happen moving into the future with SOX. Unit 4 Assignment A family man has invested a portion of his retirement into a growing stock and has been seeing remarkable growth over the past year and decides
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DEPARTMENT OF INTERNATIONAL ECONOMICS AND BUSINESS MANAGEMENT MOTIVATION SYSTEM IN ORGANIZATION Subject: Management Theory Lecture: Gitana Dudzevi?i?t? Group: Tvimtu-12 Vilnius‚ 2012 CONTENT INTRODUCTION 5 THE NATURE OF MOTIVATION IN ORGANISATIONS 6 Motivation and Performance in Organizations 6 HISTORICAL VIEWS OF MOTIVATION 6 NEED-BASED APPROACHES TO MOTIVATION 6 Need Hierarchies 7
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Locus of Control It refers to the individual’s perception about the underlying main causes of events in his/her life. The concept was coined by Julian Rotter in the 1950’s and has since become an important aspect of personality studies. It refers to the extent to which the individuals believe that they can control their life. Primarily persons could be classified as either having high internal locus of control or with high external locus of control. Those with high internal locus of control are the
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Internal Controls XACC 280 By University of Phoenix Professor This paper will discuss the internal controls and how they work in business. I will shed some light on the organizations financial and business policies‚ process and procedures. The purpose of these internal controls is to protect the company’s resources against fraud‚ misappropriate funds and most important waste. A company can spend quite a
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Senator Paul Sarbanes and Representative Michael Oxley drafted the Sarbanes-Oxley Act or "SOX" in 2002 in order to curb the incidence of corporate fraud. The “Act” was signed into law on July 30th 2002 by President George W. Bush with the express purpose of restoring public confidence in the financial markets; and after enacting “the Act”‚ neither Sarbanes or Oxley would run for re-election in the 2006 elections (Jahmani & Dowling‚ 2008). The intent of the SOX Act was to protect investors‚ and
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POWER SYSTEM OPERATION AND CONTROL USING THE SCADA SYSTEM INTRODUCTION Power System Operation and Control can simply be defined as the real time manipulation of certain status quantities based on the Power system design. These quantities are classified as follows 1. Integer- variables * Tap – settings on a Power transformer This is used to vary the secondary voltage to enhance quality of voltage being transmitted to consumers. * Status of circuit breakers‚ RMU fuses‚ feeder-pillar
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trader companies in the USA are required to maintain and have an up to date system of internal controls. Since the LJB Company is wishing to become a public entity‚ I am glad to be able to assist in this action. First‚ the rules and regulations must be reviewed and compared to the company and how it can become public. To make the company attractive to buyers‚ investors‚ and other capital sources‚ it is crucial that the corporate organization and governance are well manifested. Corporate executives
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