Financial accounting and Managerial use Essay Example for Free

Financial accounting and Managerial use Essay Background LJB Company , a small business local distributor who understands to go public in the future, the company should be in accordance with the law and may need to take more stringent internal control principles. At the request of the president, an independent internal evaluation of internal controls was conducted to evaluate the direction of strength and weakness. Objective The objectives of this report should evaluate the existing controls and make recommendations that will ensure the companies assets and help get the most accurate financial information. Based on a system of internal checks and balances will be just in my recommendations to the president of the company, since most of the internal control systems provide for independent internal control; This principle involves the review of data prepared by employees. To get the maximum benefit from an independent internal control : Control values and Integrity from the top make it clear that it is unethical activities will not be accepted, and set the tone for the companys culture . There are several principles of management : 1. Establishment of responsibility: management is most effective when a single source may be responsible for the problem, including the authorization and approval of transactions. Weakness: LJB has only one accountant who serves as treasurer and controller , which can optimize the processes , but it creates an inherent risk . Cashier handled informally . Accountant is so busy that the company handles the checkout bit differently . All employees have access to the petty cash drawer and just put a note asking if they use any of the cash. Recommendation: * Align the specific obligations of employees to limit access to authorized employees so that the buyer is not the same person who authorizes the payment without the approval of the head at least . Otherwise , a person may make payments that are made to yourself. * Use unique passwords per employee to protect the purchasing system to provide adequate documents and records management. * Assign petty cash custodian. 2 . Segregation of duties : After one employee should , without duplication of effort , provide a sound basis for evaluating the work of another employee. 2 * Strength: Accountant receives the checks and completes the monthly bank reconciliation. This force , as the bank and the company maintain independent records , which may not always agree on what may be a simple mistake of either party. To maintain maximum benefits , a worker who has no other duties associated with cash should prepare a reconciliation. * Weakness: The same accountant all purchases of supplies and pays for these purchases per hour is a dual role . Petty cash handled all . * Recommendation: 1. Divide the purchase task to avoid the temptation of possible abuse. Keeper of the petty cash fund makes payments , but the reviews accountant to recharge . 2 . Require the authorization of the buyer and payment of employees on vacation at different times of the year. 3 . Documentation and procedures to provide evidence that the transactions and events occurred * Strength: Accountant recently started using pre- numbered invoices. * Weaknesses: Unclear procedures for shipping requirements , invoices and time signatures in developing accounting documents . All employees are required only to leave a note in the box , not supply a receipt. * Recommendation: * Delivery document indicates well have been shipped, invoice sales means that the client has been announced. Use remittance advice (mail receipts ) , cash register tapes, and deposit slips . * Require signature to identify the person responsible for the activity . * If possible , the user pre- numbered documents . It also helps to ensure that the transaction is no recorded several times or not at all . * Require time when documents should be sent in accounting for timely accounting. * Require receipts for most, if not all operations on a small number of dollars. Note: accountant wants to buy an indelible ink machine to print their checks. I would recommend the purchase of this equipment , depending on the cost-benefit analysis . Keep blank checks in safes with limited access will  be my first suggestion to cut spending immediately , with no additional costs. | 4 . Physical control can be mechanical and electronic asset protection . * Strength: Before leaving for the weekend accountant , accountant will move checks in a safe in his office . * Weakness: For salaries , checks selected accountant and left in his office for pick-up . Cashier box is not locked. * Recommendation: * Closed storage inventory and records management and control at all times, and not just for the weekend . * Alarm to prevent tampering if appropriate cost benefit * Closed petty cash . 5 . Independent internal verification includes an overview and comparison of the data to reconcile * Strength: Does not work . * Weaknesses: Unclear procedures requirements signatures , such as small cash transactions. Accountant is so busy that the company handles the checkout bit differently . All employees have access to the petty cash drawer and just put a note asking if they use any of the cash. * Recommendation: 1. Require an accountant to examine receipts and documents to verify costs to replenish funds. 2 . Surprise internal audits 6. Office of Human Resources * Strength: Employees seem to stay with the company for a long time and seems to be loyal . * Weakness: The President is still quite embarrassed because he was forced to fire one of their employees for viewing pornography on a company computer. He later learned that this man was a convicted felon who served time for molesting children. The Company had a hard time getting the employee to admit that this is it, because the company does not assign individual passwords. The President expressed his disappointment because he and an accountant and an interview and approve all new employees. * Recommendation: 1. Perform back ground checks and verify education credentials 2 . Check references , but never used the figures provided a reference sheet 3 . Employees bonds that deal cash 4 . Assign unique passwords for employees Conclusion: There are limitations of internal control , but they must provide reasonable assurance that assets are protected and accounting are accurate. Currently, as a small company LJB can not have a very complicated system of internal control , but must recognize the reality of the law for trading companies with the public are held at a higher level of compliance . LJB Company does some things right , but there are several areas for improvement . Literature : http://map.ais.ucla.edu/go/1002631 Paul D. Kimmel , Jerry J. Weygandt, Donald Kieso 2010 Business Economics http://www.macomb.edu/About+Macomb/College+Policies/Policies/Guidelines+for+Purchasing+Activities.htm https://www.cms.gov/Regulations-and-Guidance//fin106c07.pdf http://www.brockport.edu/intcontrol/questions.html

Advertising Essay examples -- essays research papers

Billboards, signs, radios, newspapers, television, and internet are main instruments that we as society see or use everyday and advertisers use as channels to advertise to society. Advertising has a major role in businesses and advertising is a business in itself. How else would businesses get their name and product or service out to the consumer by efficient means and time? A business may create a product and within a couple days reach consumers across the nation to sell that product. Without advertising businesses would not expand into nationwide companies, they would only exist as bricks and mortars in towns where they exist and the community knows them. Without advertising competition would only exist between companies by positive feedback of consumers and their price. Without advertising our society would move at a snails pace to grow. Spending would be minimal as well as sales. Advertising creates more business to be done and more spending to be done. Furthermore, advertising is a paid link between the business and the consumer to inform and persuade them about a product or service to promote consumer sovereignty of products available to the consumer.   Ã‚  Ã‚  Ã‚  Ã‚  To understand the disputes and arguments of advertising, the definition of advertising has to be established. Advertising happens to be anything that distributes a message to another to inform or persuade. A garage sale sign pinned on a tree is a form of advertising. But to keep it from a business standpoint, advertisements are â€Å"paid, nonpersonal communication forms used with persuasive intent by identified sources through various media† (Commerce and Morality p43). In order to make advertising unique from announcements and other types of information, advertising main purpose is to inform and persuade to consumers to go out and buy the service or product. The advertisers have a general knowledge of who their target audience is, but do not know the individual that exist within the target audience. â€Å"They [advertisements] appeal to unknown individuals† (Commerce and Morality p43). For example, advertisers may target teenagers to sell a new hip shoe. Advertisers will have hip teenagers to model the product instead of mother or father figures to identify with the target audience. So on the whole, the advertisers may touch the target audience, but each individual in the target aud... ...m or her to buy something than himself or herself. Coca cola is one of the biggest soft drink companies. The amount of times I will see some form of advertisement of Coca Cola would be less than five times in a day. Is this a lot? The amount I will see a movie advertisement is less than ten times in a day, which involves two and a half minutes of my twenty four hour day, and that is being generous. Consumers should reevaluate what they claim.   Ã‚  Ã‚  Ã‚  Ã‚  Overall consumer sovereignty is not hindered by advertising. Advertising creates more choices for consumers to consider which product they most desire. Consumer sovereignty exists for a consumer if he or she wishes. Many consumers fall into the trap of having to spend money, and right then an advertisement comes along which causes them to buy something. The root of buying products starts with the consumer themselves not the advertisement. Advertising does not control the consumers on what they buy; advertising merely informs them on what they can buy. Consumer sovereignty goes hand in hand with advertising to create an economic system for consumers to obtain products that they wish and for businesses to flourish.

Modernization and Indigenous Cultures Essay

Introduction Modernization is the process of moving from farming and agricultural society to an industrial society and it mainly deals with societies after the Industrial Revolution of the mid-18th century. Some key features of modernization would be large, formal organizations and division of labor based on specialization of skills and abilities. There is more control over environmental resources such as oil, water, land, and animals. There is also a distinct improvement in the quality of life during this time. Because of a higher per capita income individuals are able to buy more goods and services, have more recreational time, and have better housing and health care. Modernization can have both positive and negative effects on society and can often bring about controversy. In this paper I will look at examples of how modernization has affected cultures and traditions around the world. Theories Before we look at the effects of modernization on different cultures we will look at a few specific theories concerning how modernization affects society and community. The German sociologist Ferdinand Tà ¶nnies (1855-1937) formed two theories concerning modernization which he called _Gemeinschaft_ and _Gesellschaft_. Ferdinand Tà ¶nnies viewed modernization as the progressive loss of human community – _Gemeinschaft_. He also believed the Industrial Revolution weakened the social bond of families and communities by emphasizing the impersonal business attributes like money, efficiency, and self-interest – _Gesellschaft_. Tà ¶nnies belief was that modernization turns societies inside out so that individuals are essentially separated in spite of uniting factors (Macionis, 2006, page 457). Peter Berger, whose work was greatly influenced by Ferdinand Tà ¶nnies, identified four major characteristics of modernization: the decline of small, traditional communities, the expansion of personal choice, increased social diversity, future oriented and higher focus on time. As we look at societies and cultures around the world we will see how these four characteristics play a large part in explaining the effects of modernization on each. There are other aspects of modernization that are not quite as appropriate for explaining the affects on indigenous cultures but should still be discussed. Other theorists such as Emile Durkeim, whose view of modernity differed from Tà ¶nnies’s in a more optimistic manner. He viewed modernization as a change from community based bonds to a community based on economic priorities – division of labor. There was Max Weber, who thought that modern societies valued efficiency over tradition; therefore, modern people will adjust to anything that will allow them to attain their objective. Weber felt that for modern people, truth is the result of rational calculation. Then we have Karl Marx, who analyzed modernization as the ascendancy of industrial capitalism. He anticipated a socialist revolution that would lead to an egalitarian society. The problem with Marx’s theories is that he had an idealistic view of how the world would work, and underestimated the dominance of bureaucracy in shaping modern societies (Macionis, 2006). Cultures and traditions Traditional culture, in a broad sense, is human activity such as religion, philosophy, moral standards, laws, society, history, and art that have been learned and passed on in a community or group over a long period of time. Whether a society can survive modernization without losing its identity is the question that is debated by many people. In Asian countries such as Japan, Modernization has often been confused with Westernization. This is partly due to the fact that the concept originated during the Industrial Revolution in England. It is also due to the fact that accepting modernization often meant accepting a Western culture and its resulting way of life. Many feel that Japan is a great example of how a thoroughly modern way of life can exist in a non-western society. Others argue that Japan has become distinctly more western as a result of its modernization. The main thing to understand about Japan is that it has always been on the periphery of culturally developed countries such as China, and has become accustomed to accepting foreign developed cultures. The fact is that Japanese people have always had a great interest and curiosity in imported things, including religion and science. This is why Japan never felt a strong resistance against the introduction of Western culture. Effects on Family There was a United Nations study conducted in the mid-80’s that examined the effects of modernization, urbanization, and industrialization on the family structure. Part of the findings were focused on developing countries where wide-spread poverty was forcing families to migrate to areas where work could be found; mainly large cities. Technology and development have both positive and negative effects on family. It is true that there is usually an improvement in living conditions; especially in the area of health care, income, living conditions, and education. On the other hand it can lead families into an impoverished life, loss of social identity and traditions, and an effort to ever improved innovation with no regard for the effects on family life. Most would agree that the positive or negative effects of modernization on the family are not intentional, but a product of growing  population and ever-advancing technology. It can be said that few activities resulting from modernization have been geared explicitly towards families; whether to reduce the negative effects or improving their well-being. There have been many changes in family structure due to modernization. Along with the change in roles and responsibilities within the family are changes in values. This includes a greater pressure to adopt the values, culture, or viewpoints of the dominant group. â€Å"The emphasis on individualism is probably pre-eminent among the values of developed societies†. (Development and the family, 1985) There is a very large pressure on families and small communities to integrate into the dominant culture. Although there has been a long-term shift away from the extended family towards the nuclear family, the extended family is still regarded in some instances (among rural-urban migrants, for one) as a way to continue social and cultural traditions while adapting to new circumstances and behaviors (Development and the family, 1985). It is inevitable that there will be clashes between the dominant culture and that of family values. Industrialization and Urbanization There are two key aspects of modernization in which we need to explore; Industrialization and Urbanization. Both can be looked at as a byproduct of modernization and have related affects on a society’s culture and traditions. The effects of industrialization on a family, as with modernization, is influenced by the distance they must travel to acclimate themselves to the new way of life. Some of the pressures that a traditional family structure might face include; work schedules that reduce the time a family spends together, less family production as a unit, and a diminished societal network due to migratory labor. In the U.N study mentioned above, urbanization is listed as the third major aspect of development impacting on family functioning, particularly the rapid growth of rural-to-urban migration (Development and the family, 1985). Some of the negative aspects of urbanization on family life would include  decreased communication between family members, separation of family members and lack of communal support for urban migrants, more single-parent households and postponement of child-bearing. All of these factors affect how communities and families develop, and how their culture and traditional values are passed on. There are also areas like Sao Paulo in South America where modernization has caused substantial population growth over the last 100 years. In the case of Sao Paulo, widespread coffee cultivation created sudden prosperity to a region that was fairly isolated. Then there was another population surge as manufacturing was established in the area. By the middle of the 20th century Sao Paulo became the chief manufacturing center of Brazil. The problem with that much growth in a generally poor country is the mass influx of people. With over-crowded cities come crime, air and noise pollution, traffic congestions, and most importantly a labor force that seriously outnumbers the available jobs (Cohen, 2004). Many individuals from outlying areas will continue to travel to this city in hopes of a better life, and most will end in continued poverty. It’s possible that many will end up in areas like Prestes Maia. The largest squat in Latin America, some 258 families, nearly 2,000 people, have crammed into this disused textile factory. Its 20 story’s provide shelter for some of the poorest people in arguably the most unequal place on earth (Study in contrast, 2007). There is no longer a sense of community in large cities like this. How can there be a local support network when each individual is busy looking after themselves. Conclusion Most people would probably say that globalization and modernization rarely cares for societies and culture, but that statement is not completely accurate. Cultures do not always have to modify themselves and adapt to the global changes that are being imposed upon them. There have been cases, like the Kayapo in Brazil, where natives used modern technology to help fight the intrusion of developers. In the case of the Kayapo people, they used video  cameras to film treaty negotiations and then used them against the government when they tried to go back on their word. This seems to be the exception rather then the rule. In most cases though, the reality is that dominant cultures do overwhelm smaller indigenous cultures. Small communities and societies are often torn apart by the pull of large urban areas. Because of modernization there has been an increase in personal choice. With industrialization come more opportunities for an individual to choose there future. People no longer had to stay on the farm to ensure that the family would produce enough to survive. This also led to the decline of small traditional communities. Individuals and families would travel to where the opportunities were. The problem is that those that are left behind feel abandoned by those who migrate to the cities. This fact alone creates a cultural division between indigenous peoples. Central and South America are a classic example of how a dominant culture can completely decimate that of the indigenous people. The Portuguese and Spanish left a lasting impression on the indigenous way of life. That influence reached new heights during the Industrial Revolution of the 18th and 19th century. Not only were the Europeans extracting recourses from the area, they were also introducing new ways of thinking, new technologies, and a new type of economy. It would be almost impossible for a lesser developed people to compete against the dominant culture of a technologically advanced society. References Cohen, B. (2004). Urban Growth in Developing Countries: A Review. _World_ _Development_, _32_, Retrieved March 06, 2008, from http://www7.nationalacademies.org/dbasse/Cities_Transformed_World_Develop ment_Article.pdf Development and the family. (May 1985). _UN Chronicle_, 22, p.xix(2). Retrieved March 17, 2008, from General OneFile via Gale:http://find.galegroup.com/ips/start.do?prodId=IPS Macionis, J. J. (2006). Society: The basics (8th ed.). Upper Saddle River, NJ: Pearson PrenticeHall. Study in contrast. (2007, March 14). The Statesman,1. Retrieved March 6, 2008, from ProQuest Newsstand database. (Document ID: 1232854241).

Physical Journeys Essay (Last Seen 1210am...) - 802 Words

From your study of the prescribed text and related material, what were the most significant aspects of physical journeys that you noted? Throughout physical journeys there are many aspects contained within. These aspects are what shape and form people throughout their journey. The most notable aspect of a physical journey is overcoming the barriers and obstacles which are confronted throughout the journey. This idea is evident within the prescribed texts â€Å"Migrants†, â€Å"Last seen at 12:10am† and also thought the related text â€Å"Rising from the ashes†. Communicating the difficulties in a journey is the poem â€Å"Migrants† the poem highlights the experience of a migrant family coming to Australia to seek asylum post WWII. Throughout the poem it†¦show more content†¦The use of intertextuality â€Å"†¦ merrily, merrily, merrily, merrily, life is but a dream† reveals how life consists of barrier and obstacles which cannot be stopped. When it states â€Å"life is but a dream† it demonstrates how you cannot control your everything which occurs throughout your life. The obstacles within the protagonists journey are overcome by the use of the quote â€Å"I’m smiling. I’m back.† Which signifies how his obstacles were overcome and is able to continue his life journey. Both the prescribed texts and the related text â€Å"Migrants,† â€Å"Last seen at 12:10am† and â€Å"Rising from the ashesâ€Å" utilise the concepts of overcoming barriers contained within their physical journeys. Migrants uses culture coming together to symbolise migrants overcoming the barrier while the love of the mother to break any barriers or obstacles. Rising from the ashes uses items of great possession being taken away which symbolises inevitable events which are contained within journeys. Therefore, it is revealed that overcoming barriers and obstacles within the journey are an important aspect which can form shape and strengthen an individual throughout theirShow MoreRelatedPopulation Problem in Bangladesh14871 Words   |  60 PagesThe Bangladeshi English Essay Book An Analysis by Robin Upton, January 22nd 2006 Public Domain under (cc) http://creativecommons.org/licenses/by-nc-sa/2.0 Jan 2006 - Robin Upton - http:// www.RobinUpton.com/research Contents Purpose........................................................................................................... 1 Introduction to Essay Books .......................................................................... 1 Impact of Essay Books .................