Auditing theory

The chairman should have been or presently a senior practitioner in public accountancy. 14. The following sectors represented by the PICA to the membership of AAAS have one representative, except a. Government c. Commerce and industry b. Public practice d. Academe 15. Statements on financial accounting standards constituting GAP are issued by the a.Philippine Institute of Spas. C. Audit Standards and Practices Council. B. Securities and Exchange Commission. D. Accounting Standards Council. 16. Indicate whether the following functions would be performed by: P S – Senior M – Manager AS – Audit Assistant (1) Supervises two or more concurrent audit engagements Performs detailed audit procedures Overall responsibility for audit Signs audit report s d. 17. The amount of audit fees depend largely on the – Partner a. Size and capitalization of the company under audit. B. Amount of profit for the year. C. Availability of cash. . Volume of audit work and degree of c ompetence and responsibilities involved. Page 3 of 7 18. In determining audit fees, an auditor may take into account each of the following except a. Volume and intricacy of work involved. C. Number and cost of manors needed. B. Degree of responsibility assumed. D. Size and amount of capital of client. 19. Under this method of billing a client, the external auditors charges on the basis of time spent by principals/partners, supervisors, seniors and Juniors at predetermined rates agreed upon with the client Maximum fee basis c.Flat sum basis Retainer basis d. Per diem basis RA No. 9298 – Philippine Accountancy Act of 2004 and its AIR 1 . Which of the following is not one of the specified objectives of the Accountancy Act of 2004? A. Examination for registration of Spas. B. Supervision, control, and regulation of accounting practice. C. Standardization and regulation of accounting education. D. Promulgation of accounting and auditing standards. In all of the following situations except one, a person is deemed to be engaged in professional accounting practice.Which of them is the exception? A. Performing audits or verification of financial transactions and records for more than one client. B. Employed as the department chairman that supervises the BAS program of an educational institution. C. Employment as controller of a private business enterprise and such employment squires that the holder thereof should be a CPA. D. Appointment in the government where first grade civil service eligibility is a prerequisite. A person is not deemed to be engaged in professional accounting practice if a.Her merely holds himself out as skilled in the science and practice of accounting and qualified to render services as a CPA. B. He merely offers to render services as a CPA to the public, but does not actually render such services. C. He offers or renders bookkeeping services to more than one client. D. He installs and revises accounting systems for more than one client. Pr actice in Public Accountancy shall constitute in a person a. Involved in decision making requiring professional knowledge in the science of accounting, or when such employment or position requires that the holder thereof must be a certified public accountant. . In an educational institution which involve teaching of accounting, auditing, management advisory services, finance, business law, taxation, and other technically related subjects. C. Who holds, or is appointed to, a position in an accounting professional group in government or in a government owned and/or controlled reparation, including those performing proprietary functions, where decision making requires professional knowledge in the science of accounting, d.Holding out himself/herself as one skilled in the knowledge, science and practice of accounting, and as a qualified person to render professional services as a certified public accountant; or offering or rendering, or both, to more than one client on a fee basis or ot herwise. Any position in any business or company in the private sector which requires supervising the recording of financial transactions, preparation of financial tenements, coordinating with the external auditors for the audit of such financial statements and other related functions shall be occupied only by a duly registered CPA.Provided (choose the incorrect one) a. That the business or company where the above position exists has a paid-up capital of at least and/or an annual revenue of at least b. The above provision shall apply only to persons to be employed after the effectively of the Implementing Rules and Regulations of RA 9298. C. The above provision shall not result to deprivation of the employment of incumbents to the position. D. None of the above.

Did Lizzie Borden Commit Murder

A little over a century ago an atrocious double murder was committed, in the two-half story house at 92 Second Street, in Fall River, Massachusetts. This crime shocked the city of Fall River, as well as the nation, as Lizzie Borden, a 32-year-old Sunday school teacher, went on trial for the murder of her father and her stepmother. (Augustine). An all male jury eventually acquitted her on the accusations. (Aiuto). To this day, the murderer of Andrew J. Borden and Abby Gray Borden is still unknown, but in the public mind everyone believes it was Lizzie Borden.Lizzie was born and grew up in Fall River, Massachusetts. She was the youngest daughter of Andrew Jackson Borden, who was a very successful Banker and Sarah Borden. Sarah died when Lizzie was very young and Andrew then married Abby Durfee Gray. Lizzie grew up with an elder sister, Emma. Neither of them ever married. It is said the sisters hated their stepmother, mainly because of the family’s inferior social position. (Hist ory Channel). Many of the wealthier houses at the time had electricity and running water, the Borden house did not, making Andrew’s reputation a penny pincher. Clark). On the day of August 4, 1892, the bodies of Andrew Borden and his wife were found mutilated. (History Channel). As opposed to 40 whacks, in the popular rhyme, 19 blows struck Abby Borden by a hatchet or axe to the back of her head and neck. (History Channel). At the time she was cleaning the guestroom of the family home, at 9:30 am. Andrew Borden, who had returned home around 10:30 am, after his daily business had been attended to, was napping on a couch in the parlor, when he was attacked. (Lizzie). 11 blows were struck upon Mr.Borden's head and face, to the point that one eye hung from its socket, making him unrecognizable. (History Channel). There were only two people in or about the house at the time of the killings, Lizzie Andrew Borden and Bridget Sullivan, the Borden's maid. (Clark) There is some specula tion as to others that may have been responsible for these evil acts. Among the other alleged killers is John Morse, the brother of Andrew's first wife, Emma Borden, Lizzie's elder sister. Soon after the murders, Lizzie emerged as the prime suspect after John Morse’s alibi checked out. Clark). She then was arrested and tried on three counts, the murder of Abbey, of Andrew, and of them both and, if found guilty, faced death by hanging. (Clark). What makes the Fall River murders so perplexing is that the motive, the weapon and the opportunity for such a crime are all absent. When the Fall River constabulary investigated the murders, they found no money or jewelry missing, not even small amounts of change or the packet of bus tickets as were taken in the daytime break-in at the Borden home twelve months earlier. (History Channel).There was some speculation on Andrew having a will, but no will was ever found, leaving the entire estate to Lizzie and Emma. (Clark). A local pharmaci st reported Lizzie coming into his store and asking for prussic acid or hydrogen cyanide on several different occasions two weeks prior to the murders. (Augustine). Lizzie insisted that she needed it to clean an item of clothing, but the pharmacist refused to sell it to her without a prescription. (Augustine). Also, when the bodies had been discovered many people from throughout the neighborhood were entering and exiting the crime scene and could have easily moved evidence to protect Lizzie. Clark). Besides the lack of a clear motive for the murders, there was also the perplexing lack of opportunity. Fall River found the entire Borden house locked up as usual, and during the two-and-a-half-hour period in which both murders were completed, the maid Bridget was outside the house washing windows and daughter Lizzie was inside the house reading a magazine. (History Channel). Even if one of the two committed the crime, the violent and bloody act should have been noisy enough to attract t he attention of the other. There was also not a lot of blood splatter at the crime scene. (Clark).If Lizzie were to have murdered her parents there should have been some sort of blood on Lizzie’s clothes. (Clark). The prosecution used this as a key part of their trial. They had a witness that said she saw Lizzie burning a blue dress in her kitchen and the prosecution insisted that it was the dress Lizzie killed her parent’s in. (Clark). Lizzie did in fact burn a dress and was seen doing so, but she was burning it because she had no use for it anymore because it was soiled with paint. (Clark). June 1893, Lizzie was arrested and sent to trial. The all-male jury was put into a difficult position. (Lizzie).It was the Victorian Era where women were considered delicate flowers and not capable of killing someone and it was not a common issue to deal with in those times. (History Channel). After only an hour of deliberating, the jury declared Lizzie to be not guilty. It is sai d it only took them 15 minutes to decide, but out of respect for the prosecution, they waited another 45 minutes before they informed the court of their decision. (Lizzie). Shortly after the trial, Emma and Lizzie each inherited half of their father's estate, about $200,000. 00 each, which was a large amount of money in those days. (History Channel).Their first purchase was a home on The Hill, at 7 French Street, which Lizzie named Maplecroft. (Clark). Lizzie also changed her name to Lizbeth. (Clark) Lizzie became a social outcast after the trial, with few friends remaining loyal. (History Channel). Her every move was criticized: if she appeared solemn in public, it was because she was guilt-ridden because of her crime; if she was happy, it proved she was a heartless monster. Lizzie soon had to travel farther to do her shopping, but she was not left along by reporters. (Clark). Reports after the trial of Lizzie usually were rumors, from engagements to cases of shoplifting.These pape rs never seemed willing to print tales of her good deeds, such as her many charitable donations, her aide to deserving young people who could not afford a college education. (Clark). Nor did they print stories of her love of animals, or of the arts. (Clark). The murder of Andrew and Abby Borden will forever be a cold case and one of the most gruesome crimes that could have been committed by a woman. People will always have some sort of curiosity towards this case because of the lack of evidence, the opportunity and motive that could have possibly been.Works Cited Aiuto, Russell. â€Å"Lizzie Borden Took An Ax. † TruTv. Turner Broadcasting System, 2010. Web. 27 Oct 2010Augustine, Megan. â€Å"Dusting off a Cold Case with Modern Forensics: Lizzie Borden†¦fortyone. † The Forensics Examiner. 14. 4 (2005): 52+ Academic OneFile. Web. 14 Oct 2010.Clark, Denise M. â€Å"How Lizzie Got Away With Murder. † Crimemagazine. com. Crime Magazine,2010. Web. 25 Oct 2010. Th e History Channel: The Strange Case Of Lizzie Borden. New Video, 2005. DVD. â€Å"Lizzie Andrew Borden. †Karisable. com. Karisable Burns. 26 Apr. 2004. Web. 27 Oct 2010.

Affirmative Action Essay Example for Free (#8)

Affirmative Action Essay ? Affirmative Action has remained one of the most controversial social issues of our time. Aggressive non-discrimination was the original intention, but it soon became clear that merely promising not to discriminate would have little effect on the racial bias in our society. My own opinion was first formed by my father and influenced by the conservative environment in which I lived. Since then, I have experienced a much broader view of American society. I have heard many different opinions on affirmative action from all aspects of our culture and I have changed my mind. The roots of affirmative action can be traced back to the passage of the 1964 Civil Rights Act, where legislation redefined public and private behavior. The act states that to discriminate in private is legal, but anything regarding business or public discrimination is illegal (Affirmative† 13). There are two instances when opposing affirmative action might seem the wrong thing to do. First, the nobility of the cause to help others. Second, affirmative action was a great starter for equality in the work place. The case against affirmative action ests heavily on myth and misunderstanding, and following illustrates that an absence of affirmative action in today’s society will only reinforce racial injustice. Myth 1: The only way to create a color-blind society is to adopt color-blind policies. Although this statement sounds unthinkingly possible, the reality is that colorblind policies often put racial minorities at a disadvantage. For instance, color-blind seniority system tends to protect white workers against job layoffs, because senior employees are usually white (Ezorsky, 1991). Myth 2: Affirmative action has not succeeded in increasing female and minority representation. Several studies have documented important gains in racial and gender equality as a direct result of affirmative action (Bowen & Bok, 1998; Murrell & Jones, 1996). For example, affirmative action has helped five million minorities and six million whites and minority women to be promoted in the workplace. The effect of the affirmative action program previously documented show important gains in racial and gender equality according to, Roger Clegg of the Academic Search Premier. America is known as the land of opportunity. However, it became evident that â€Å"opportunity† was only available to white men. Later, laws were passed to ensure equal opportunity regardless of race, sex, and religion. These affirmative action laws were set in place by our government with the intent of correcting the social evil known as prejudice; but in doing so, they created a monster. Affirmative action has become an ineffective, outdated, and socially harmful policy that is weakening our great nation. Should Affirmative Action be mended or ended? Affirmative action is an attempt to correct unequal distribution of benefits (status, income and wealth, power and authority,) and burdens associated with ethnic and gender differences. When we become citizens of this nation, at birth or otherwise, we get a warranty. That warranty is supposed to be honored by every government franchise in every village and hamlet of this nation. It is non transferable, and it is good for the life of the vehicle. We are guaranteed the right to vote, the right to due process; the right to be free, not to be enslaved, as long as we conduct ourselves in accordance with the laws of our nation; and the right to equal treatment under the law, regardless of our race, color, sex, religion national origin. These are rights which attach to us as individuals, not as members of a group. Affirmative action has its roots in that passion for fairness. When President Lyndon Johnson explained affirmative action to the nation, it is significant that he said,’ You can’t bring a man to the starting line who has been hobbled by chains and expect him to run the race competitively. ‘ Fairness dictated that the nation pursue affirmative action to compensate black Americans for the wrong that had been done. Affirmative action was a technique for jump-starting the process of integrating black Americans into the fabric of American society, for changing the culture of America from an exclusive society into an inclusive one. I will never abandon my faith that America can become Ronald Reagan’s â€Å"shining city on the hill,† a society in which a person’s gender or race or ethnic background are irrelevant in the transactions of their government. Let us not mourn the death of affirmative action. Instead, let us proclaim our belief that the spirit of equal opportunity, which affirmative action engendered, has become a permanent fixture of America’s social, economic, and political landscape. Let us have faith in our own sense of fair play and keep affirmative action alive. Efficiency is important to the success of any machine, including economic machines. Affirmative action increases diversity, but it does so at a cost. The cost is that it promotes racism indirectly by focusing on differences. I have a better idea. The main goal behind affirmative action is to promote unity and efficiency. So the question is what is the best way to do that? One way, is to simply provide unity incentives. Instead of punishing qualified white males, we should instead provide incentives to white males to promote diversity and unity. The best way to do this is to use the tax system. Greater unity should mean lower taxes, meaning tax incentives to anyone who promotes unity. The more women you hire, the lower your taxes. The more minorities you hire, the lower your taxes. If your business is diverse according to guidelines, you should actually be able to earn money for promoting diversity and unity. Affirmative action is wrong; you should not punish qualified employees. You should instead reward shareholders, CEO’s, and the corporation itself for doing what is rational, and in the best interest of the bottom line. So one replacement for affirmative action could be unity tax deductions. Another replacement for affirmative action could be unity credits, where individuals who choose to run their business or give to charities which promote unity, can actually receive credits for doing so and abolish affirmative action. That great American pastime—baseball—is a reminder of the intensity of our passion for fairness as we encourage the crowd to ‘kill the umpire’ if he makes what we consider an unfair call. As we drive home at the end of the day, our hands gripping the steering wheel, our bumper kissing the one ahead, when to our right a vehicle speeds along the curb and merges ahead of us at the moment when an opening appears, our passion for fairness surfaces. The protrusion of one of our fingers signals our belief that one of the rules of fairness has been violated. In every sport I can think of—baseball, basketball, football, tennis—one is expected to play between the white lines. To do otherwise is unfair and carries a penalty. The problem with affirmative action is that it singles out a particular ethnic subsection of the lower class, while leaving many deserving people behind solely because of their heritage. Instead, this society should focus on raising the bar for all members of the lower and middle class who wish to educate themselves and better their economic, intellectual and cultural positions in life. We should do this by providing more lower class young adults of all colors and creeds with inexpensive higher education. I strongly believe that only when affirmative action is unnecessary and outmoded should we abolish it. We should not destroy our current solution without creating a newer, better one. In conclusion, affirmative action policies, as they exist right now, are ineffective, outdated, hypocritical, and harmful. On the other hand, affirmative action is the best thing since peanut butter, where all people of all race can enjoy a good sandwich. Though all of these may be argued well by both sides, this last point is indisputable. Affirmative Action, no matter how it is explained, rationalized, justified, or disguised, will still be the center of social issues in our time and the time to come. Affirmative Action. (2017, Jan 15).

The problem of unpaid labour in latin American economics Essay

The problem of unpaid labour in latin American economics - Essay Example International Labor Organization (ILO) in 2006, about 6 million children in Latin America are engaged in the workforce as laborers (Antonopoulos, and Hirway, 2009). On the same score women have been found to be heavily involved in unpaid labor all across Latin American economies. Research conducted by the United Nations on this subject has found that the gap between women and men in paid labor is quite huge. Many women and children still suffer from certain forms of discrimination or slavery at their places of work. Research has also shown that efforts are being made to ameliorate such discrepancies in the workforce and bring some ethics into organizations. Such efforts like bridging the gap in health, education, markets and access to credits as well as protection of labor rights have been devoted to address these alarming disparities. Such initiatives have been important yet not sufficient to bridge the huge gap that already exists and women still feel underrepresented in paid labor (MaganÃŒÆ'a, 2013). It must be recognized that by bridging the gap between paid and unpaid work is a positive goal that influences positively pro-poor growth, social cohesion and general human developments and must be encouraged. As such policy makers must focus their attention to address the gaps that exist in health, education, labor rights and access to credits as these have been found to influence greatly the productiveness of women in the workforce. The ILO defines child labor as any work that interferers with the child’s development. In Latin America many children are engaged in the regional workforce either formal or informal. It is a difficult problem to combat as it as a result of the high poverty levels and entrenched societal customs. It is therefore the aim of this paper to look at such problems of unpaid labor in Latin America and find out possible solutions. The succeeding discussion elucidates the problem in more detail. The number of people engaged in unpaid or

Analyzing the Statement of Cash Flows Assignment

Analyzing the Statement of Cash Flows - Assignment Example Therefore, Net Income is the position of a company’s business based on matching incomes versus expenditure but cash flow will only reflect actual movement of money without any considerations for the accruals (Epstein, 2014). A comparison of the Cash from operating activities to the Net Income for techno in 2008 stands at a ratio of 177,387/242,329= 0.73 and 2009 stands at 24,525/316,354= 0.08. Therefore, Techno had a 73% rate in 2008 and it dropped to 8% in 2009. This is a low quality income showing a great imbalance. The time taken to convert any credits or accruals to cash is stretching an indication of a pending problem that may lead to crippled operations. The first red flag is the declining number of receivable from $-49,704,000 in 2008 to $-288,174,000 in 2009. This deterioration is emphasized by a minimal decline in inventory over the two years. The Net Income figure is also overrated because the Accrued liabilities have almost doubled over the two years which puts the company at a delicate position if the creditors demand instant payment ((Epstein, 2014)). This position would not be the same in 2008 because the Cash from Operating Activities $177,387,000 was enough to cover the accrued liabiliti es of $41,079,000. Techno has also engaged in heavy borrowing both in short-term and Long-term in 2009 to probably support the business from the weak position confirmed by the declining ratio between a 73% rate in 2008 and it dropped to 8% in

Strategic and operations management Assignment Example | Topics and Well Written Essays - 2250 words

Strategic and operations management - Assignment Example This is one of the leading companies in the world with building materials. This company is however based in Ireland (Diana, 2013). It is important to highlight that CRH is quite focussed and takes into consideration every business hitch and utilizes it for the better. The company realized the factors that lead to the business and noted keenly with a lot of concern that for the company to excel, the price that is charged on the various commodities should be relatively cheap and affordable that favours a large number of people. It is also important to highlight the other factors that the company considered; the quality of services that are offered. This is the overall view, perception as well as experience that the customers get after consuming the products. The value that the customer attaches to the product offered and how the interact with the persons providing the service depicts the quality as either high or low quality (Diana, 2013). The company being ranked as one of the top leading companies in the world in terms of the provision of the building materials, it is important to highlight that the company had to strategize and develop ways to meet the large demand for the products that they offer. This therefore means that the company had to be more reliable and accountable in terms of productivity. This also led to the company establishing smaller markets and enterprises within due to the variations in the legal issues in different parts of the world. This was in the essence that the company had consequently known that micro-markets enhance the successful business performance (Diana, 2013). In the realization of the tight as well as the difficult market environment, it is important to highlight that CRH developed strategies for the successful operations. These strategies were with certain key elements as they are well explained and clearly discussed below: It is also important

Education Management Systems Personal Statement Example | Topics and Well Written Essays - 500 words

Education Management Systems - Personal Statement Example The task assigned is primarily to man the communication systems of the ground operations of the peacekeeping unit. This being a very critical job in any military operation and any slight error here could even disrupt the planned strategy of the operations. Further, being with diverse group of people from different countries, the operational effectiveness would heavily rely on our personal traits. Though initially I was a little doubtful on the success of my initiative, the skills acquired during the younger days when I had spent weeks with the convicts and addicts in an awareness initiative might have given the openness to associate with people with different culture, language, habit and style. Though these are the traits that have helped me to bring out the best in the field of my operation, I am also aware of a lot of missing virtues in me. Being away from home for considerable period of time, absence of emotional bond with the friends and relatives is the major lacuna in me. This has led to fewer friends back home and also at work. But being with the job that I like the most, these shortcomings seldom disturbs me at the moment.