Internal Control Essays and Term Papers
Last update: August 10, 2014-
Internal Controls and Sox
I. Introduction a. Overview of Paper This paper will first take a brief look into what internal controls and the Sarbanes Oxley Act are. Then it will proceed to show the relationship, or interrelatedness, of the two. It will then give an International perspective and possible future of the Act, as felt by the author and finally sum up with a brief conclusion of the author’s thoughts on the Act as a whole. Afterwards the
Rating:Essay Length: 2,183 Words / 9 PagesSubmitted: November 9, 2009 -
Internal Controls
Running head: INTERNAL CONTROLS Internal Controls All companies have a need and responsibility to track their financial positions. Depending on the size of the company, those tracking systems or accounting systems, can be very simple or very complex. “An accounting system is a set of records, procedures, and equipment that routinely deals with the events affecting the financial performance and position of the entity (Shiraz Noordin, 1997).” The accounting records are kept to measure financial
Rating:Essay Length: 707 Words / 3 PagesSubmitted: December 20, 2009 -
Internal Controls Essay
Internal Controls Paper FIN/324 University of Phoenix November 2, 2005 Internal Controls Paper When it comes to the internal controls of firms and enterprises, executives are constantly keeping a close look on the accuracy and effectiveness of these controls along with seeking ways to better them. According to COSO (2004) the implementation of internal controls helps guide companies in reaching towards their profitability goals, the accomplishment of their mission statement, and helps minimize any unexpected
Rating:Essay Length: 735 Words / 3 PagesSubmitted: January 8, 2010 -
Understanding Internal Control
Obtaining an understanding of internal control allows auditor’s to identify the types of material misstatements that could occur in the financial statements, consider the factors that affect the risk of material misstatements, and design substantive tests. An auditor obtains the understanding from researching the clients business. An auditor will take inquires from management and personnel, observe client activities and operations, walk-through the business, and inspect client documents and records. Gathering that information and understanding
Rating:Essay Length: 656 Words / 3 PagesSubmitted: January 11, 2010 -
Small Business Internal Controls
Small Business Internal Controls Entrepreneurs and small owners often forget a very important part of operating a business, internal controls. In fact, poor internal controls and dishonest employees were listed as the reason for 30% of small commercial business failures. (Hrncir, 223) Even with this knowledge many small businesses do not have an understanding of the intent and effectiveness of internal controls. An internal controls system is the written and spoken set of rules and
Rating:Essay Length: 943 Words / 4 PagesSubmitted: January 19, 2010 -
Internal Controls
Internal Controls Internal controls are an essential part of a company’s financial and business policies and procedures. The Committee of Sponsoring Organizations of the Treadway Commission (COSO) defines internal control as “a process, effected by an entity's board of directors, management and other personnel, designed to provide reasonable assurance regarding the achievement of objectives in the following categories: effectiveness and efficiency of operations, reliability of financial reporting, and compliance with applicable laws and regulations” (COSO).
Rating:Essay Length: 845 Words / 4 PagesSubmitted: February 7, 2010 -
Identify Internal Control Principles
A. Identify internal control principles 1.The first internal control principal is an applied establishment of responsibility. Only one designated person is authorized to handle the tickets. One roll is designated per shift and the manager locks the roll in the cash register. Also designating only one person like a cashier to handle cash and different individuals should be assigned the duties of receiving cash, recording cash, and custody of cash. 2.The next principal is the
Rating:Essay Length: 476 Words / 2 PagesSubmitted: March 3, 2010 -
Howard Street Jewelry Accounting Case Study on Internal Controls
Howard Street Jewelry Accounting Case Study on Internal Controls 1. The main internal control concept the Levis ignored was segregation of duties. No one person should be responsible for all transactions from the beginning to the end. Betty had too many responsibilities that were interwoven and should have been performed by more than one person. She handled the cash that came in, maintained the cash receipts and the sales records. Another concept that this relates
Rating:Essay Length: 1,039 Words / 5 PagesSubmitted: March 21, 2010 -
Benefit from Assessing Internal Control Procedures
There are many ways for a company to benefit from assessing their control procedures. Internal controls are operating practices that are established to provide reasonable assurance that specific objectives will be achieved and every employee in the organization is responsible for internal controls. Implementing internal controls will help your business reach its performance and profitability targets, and most importantly prevent loss of resources. Internal Controls help to ensure reliable financial reporting, as well as, making
Rating:Essay Length: 571 Words / 3 PagesSubmitted: March 30, 2010 -
Internal Controls
Introduction In recent years, many organizations have published guidelines and standards on internal control and defined it in various ways. All of the definitions captured the basic concept of internal control using different words. The definitions are very similar in that they recognize internal control's extensive scope, responsibility, relationship to achieving the organization's mission, and its dependence on people in the organization. Internal Controls are an important part of each system used to regulate and
Rating:Essay Length: 782 Words / 4 PagesSubmitted: March 31, 2010 -
Computer Sabotage - Internal Controls
The most expensive and best-publicized incident of computer sabotage happened at Omega Engineering Corp of Bridgeport, New Jersey. It was a classic example of inside hack attack, whereas a former employee intentionally launched a logic bomb that permanently caused irreparable damage, destroying more than a thousand programs in the matter of a few seconds. Omega Engineering was a thriving defensive manufacturing company in the 1990s; it used more than 1,000 programs to produce various products
Rating:Essay Length: 272 Words / 2 PagesSubmitted: May 22, 2010 -
Internal Controls - Accounting
Internal Controls are processes that enable an organization to obtain its objectives of operational efficiency and effectiveness, reliable financial financial reporting and maximum compliance with the laws, regulations and polices within the industry in which it operates. Internal controls are meant to safeguard the assets and resources of the organization through detection of any errors, fraud, and theft within the organization. The basic principles of assessing internal control systems of an organization include the board
Rating:Essay Length: 488 Words / 2 PagesSubmitted: February 12, 2018 -
Design a Universal Remote Control
If you were asked to design a universal remote control for a smart home please describe (with reasons) the design of the user interface. Years ago setting up a remote control system for a home would have sounded like a thought out of a wild imagination. However, there are things that man has come up with today that have made the world stand up and take notice. Wiring a home or putting everything on remote
Rating:Essay Length: 1,745 Words / 7 PagesSubmitted: December 6, 2008 -
Enlightenment Versus British Political Control - the Colonial American Enlightenment Ideals Compared to the British Oppression
Enlightenment Versus British Political Control The Colonial American enlightenment ideals compared to the British oppression The development of enlightenment ideals such as equality, democracy, and religious freedom were more influential on the American colonists than the British oppression, and helped catalyst the American Revolution. The idea of equality is a strongly preached idea of enlightenment, and was one of the main points in the evolution to the American Revolution. As stated in the declaration of
Rating:Essay Length: 914 Words / 4 PagesSubmitted: January 7, 2009 -
International Marketing
A firm's international marketing program must generally be modified and adapted to foreign markets. This international marketing program uses strategies to accomplish its marketing goals. Within each foreign nation, the firm is likely to find a combination of marketing environment and target markets that are different from those of its own home country and other foreign countries. It is important that in international marketing, product, pricing, distribution and promotional strategies be adapted accordingly. In
Rating:Essay Length: 3,598 Words / 15 PagesSubmitted: March 4, 2009 -
International Marketing
A firm's international marketing program must generally be modified and adapted to foreign markets. This international marketing program uses strategies to accomplish its marketing goals. Within each foreign nation, the firm is likely to find a combination of marketing environment and target markets that are different from those of its own home country and other foreign countries. It is important that in international marketing, product, pricing, distribution and promotional strategies be adapted accordingly. In order
Rating:Essay Length: 3,008 Words / 13 PagesSubmitted: March 4, 2009 -
Brinkerhoff International Inc Case Study
MEMORANDUM TO: JUAN C. ARAQUE FROM: GROUP #6 SUBJECT: CASE STUDY FOR COMPANY "BRINKERHOFF INTERNATIONAL INC." DATE: 11/14/00 CC: HUMAN RESOURCE DIRECTOR OBJECTIVE: After careful review and analysis of the situation and the facts surrounding the company Brinkerhoff International Incorporated (BII), our team has been able to develop a viable course of action to efficiently improve productivity and relations within the organization. PROBLEMS IDENTIFIED: It is apparent through financial records that Rig 1-E by far
Rating:Essay Length: 2,797 Words / 12 PagesSubmitted: March 4, 2009 -
International Trade
International Trade In today's world there are many issues in need of reformation, one of which is international trade, otherwise known as globalization. Although there are a great deal of rules, regulations, and policies imposed on international trade, the manner in which those rules have been enforced is a major controversy that seems to be escalating day by day. At the center of the controversy is the World Trade Organization (WTO). The WTO was established
Rating:Essay Length: 841 Words / 4 PagesSubmitted: March 11, 2009 -
International Gray Markets
Reference: Prince, Melvin and Davies, Mark. "Seeing Red Over International Gray Markets", Business Horizons, March-April 2000. pp. 71-74. Summary/Description: International gray markets pose a real threat to manufacturers and their licensed retailers and they also represent a legit market that is just trying to get the end consumer the best quality product at the lowest price. It's all a matter of who you're talking to. An international gray market is an unlicensed or unplanned channel
Rating:Essay Length: 883 Words / 4 PagesSubmitted: March 11, 2009 -
Japenese-American Internment Camps
"Herd В‘em up, pack В‘em off, and give В‘em the inside room in the badlands"(Hearst newspaper column). Many Americans were feeling this way toward people of Japanese descent after the attack on Pearl Harbor. The feelings Americans were enduring were motivated largely by wartime hysteria, racial prejudice, and a failure of political leadership. The Japanese-Americans were being denied their constitutional rights, they were provided poor living conditions in these relocation camps, and by the time
Rating:Essay Length: 484 Words / 2 PagesSubmitted: March 17, 2009 -
Gun Control
Gun Control Gun control is a very big issue in the United States today. Many people don't agree with the gun control laws that they have today. Gun control laws only take guns away from law-abiding citizens. Many people have their own reasons for owning a gun. Why would the government want to make it harder for people to own a gun? People that own guns are not very likely to be attacked by criminals.
Rating:Essay Length: 1,348 Words / 6 PagesSubmitted: March 22, 2009 -
Japanese Internment
The 1940's was a turning point for American citizens because World War II was taking place during this time. Not only was America at odds with other countries, but also within its self. America is a huge melting pot full of diverse cultures and people from all nations. People travel from all over the world to the United States of America. These people had one goal in mind, a life of freedom and equal
Rating:Essay Length: 3,799 Words / 16 PagesSubmitted: July 15, 2009 -
International Business Negotiations
1 Introduction As an exchange student in business study’s I chose to follow the course International Business Negotiations. It sounded like an interesting subject, because nowadays companies don’t stay in their country. They want to go across the borders. To get there you have to be able to negotiate with local people all around the world. So for me it is important to know how to negotiate. In addition to this interesting course I have
Rating:Essay Length: 1,586 Words / 7 PagesSubmitted: November 8, 2009 -
Control Issues
2001: A Space Odyssey is just that: a long wandering voyage of the body and mind. Stanley Kubrick and Arthur C. Clark collaborated brilliantly. In examining both works, the film and the novel, there are certainly differences, yet the theme and overall idea coincide thoroughly. That this was made in the 1960's augments both accomplishments. The visuals, seen in 2004, are still captivating. What they must've seemed like in 1968! I flout those who received
Rating:Essay Length: 691 Words / 3 PagesSubmitted: November 8, 2009 -
Do You Agree That International Organizations Are the Ideal Solution-Providers for the Problems of a Globalizing World? Use Case Studies of Environmental Issues, Refugee Plight and Poverty Where Appropriate.
Essay Question: Do you agree that International Organizations are the ideal solution-providers for the problems of a globalizing world? Use case studies of environmental issues, refugee plight and poverty where appropriate. It is inevitable that states have to put aside their national boundaries and come together to “cooperate, adjust, accommodate and compromise” to solve global problems and resolve conflicts which by definition of globalisation (the interconnectedness of states) would have spill-over effects on political, economic
Rating:Essay Length: 2,523 Words / 11 PagesSubmitted: November 8, 2009