Internal Control Essay Example for Free

Internal Control Essay 1. Inform the President of any new internal control requirements if the company decides to go public.  As per the accident that happened in the company about some employees was viewing pornography on company computer and he had a hard time to get his employees admitted that they were the one who doing it. He should use limit access by individual passwords for each person to log in the computer systems. To make sure that which person was log on in the computer and do bad thing during that period. 2. Advise the President of what the company is doing right (they are doing some things well) and also recommend to the President whether or not they should buy the indelible ink machine. When your advice the President, please be sure to reference the applicable internal control principle that applies. From the passage that the accountant has recently started using prenumbered invoices following by the principle of internet control activities. Please find the Documentation Procedures passage below. From the passage, the president wants to buy an indelible ink machine to print their checks. In my opinion, I would like to recommend that he should buy an indelible ink machine following by the principle of internal control activities. Please find the Physical Controls passage below. Principles of internal control activities Documentation Procedures Companies should establish procures for documents. First, whenever possible, companies should use prenumbered documents, and all documents should be account for. Prenumbering helps to prevent a transaction from being recorded more than once, or conversely, from not bring recorded at all. Second, the control system shown that employees should promptly forward source documents for accounting entries to the accounting entries to the accounting  department. This control measure helps to ensure timely recording of the transaction and contributes directly to the accuracy and reliability of the accounting record. Require use prenumbered checks and account for them in sequence; each check must have an approved invoice; require employees to use corporate credit cards for reimbursable expenses; stamp invoices â€Å"paid†. Physical Controls Store blank checks in safes, with limited access; print check amounts by machine in indelible ink. 3. Advise the President of what the company is doing wrong (they are definitely doing some things poorly). Please be sure to include the internal control principle that is being violated along with a recommendation for improvement. Following from the passage that they have one accountant who serves as Treasurer and Controller which streamlines many of their processes. In this dual role, he purchases all of the supplies and pays for these purchases. He also recieves the checks and completes the monthly bank recommendation. The accountant is so busy that the company handels pretty cash a bit differently. He should asign duties to more than one person not only one because it hard for one person to control and serves as treasurer and controller in the same time. Following by Principles of internal control activities. Please find Segregation of Duties and Establishment of Responsibility passage below. From the following passage that all employees have access to the petty cash in a desk drawer and are asked to only place a note if they use any of the cash. In my opinion, he should limit access to the petty cash in a desk drawer, only one person could have responsible for the petty cash. Following by Principles of internal control activities. Please see the Establishment of Responsibility passage below. Principles of internal control activities Segregation of Duties Different individuals approve and make payments; check singers do not record disbursements Segregation of duties is indispensable in an internal control system. There are two common applications of this principle: 1. Different individuals should be responsible for related activities. 2. The responsibility for record-keeping for an asset should be separate from the physical custody of that asset. The rational for segregation of duties is this: The work of one employee should, without a duplication of effort, provide a reliable basis for evaluating the work of another employee. Segregation of related activities making one individual responsible for related activities increases the potential for errors and irregularities. Establishment of Responsibility An essential principle of international control is to assign responsibility to specific employees. Control is most effective when only one person is responsible for given task. Establishing responsibility often requires limiting access only to authorized personnel, and then identifying those personnel. Only designated personnel are authorized to sign checks (treasurer) and approve vendors. Compare checks to invoices; reconcile bank statement monthly

Sparta, not Athens, won the war against Persia Essay -- History

The Greek victory against Persia was largely due to efforts of mainly Athens but also Sparta as well. Athens was responsible for the major turning points of the Persian invasions, while Sparta was responsible for the deciding battle. Miltiades, with his skilful battle strategies, defeated the Persians during their second invasion at Marathon, which gave Athens a confidence boost on their military. During the third invasion, when the Athenians were evacuated to Salamis, Themistocles had devised a plan to trick the Persians which had resulted in Persian army without a supply line. Sparta?s importance had revealed during their sacrifice at Thermopylae and at Plataea, where they provided the most effective part of the army. Athens was an important contributor to the Persian wars. Its tremendous naval power along with their smart and innovative leaders, Miltiades and Themistocles, brought victory in situations which had thought to be impossible. An example of this is the battle at Marathon during the second invasion. The Athenians met the Persian?s large army among the hills, where their cavalry would ineffective, which was their strongest quality. Miltiades, informed by some Ionians that the Persian cavalry was absent, convinced Callimachus to strike. The battle had resulted in a win for Athens, without the help of Sparta and showed the superiority of the Greek hoplites compared to their Persian counterparts. Miltiades, knowing that the Persian?s strongest troops were placed in the middle and absence of cavalry, devised a strategy to encircle their enemy by strengthening their wings. This strategy is what brought victory, and in turn, was a moral victory for the Athens and eradicated the impression that Persians were unbeatable. Th... ...he Persian army, which gave way for the Spartans to shine at Plataea. So without the Athenian naval ships fighting, the war would have been lost as the Greek superior hoplites would have been outweighed by the incredible numbers of the Persians. The war against the Persians was won by both the efforts of Athens and Sparta, but the contribution made by Athens was much more important. The battles at Marathon and Salamis showed that Athens was not second place to Sparta and was capable of holding up their end of the battle. Sparta?s strength and honor as warriors was also an asset as it helped the battle at Plataea run smoothly for the Greeks. However, Athens efforts in the war were much more vital to the victory than Sparta as their victory at Salamis turn the whole war around, which only then gave a chance for Sparta to finally show their ability as fine warriors.

Key Events in the Space Race Essay

The 60s were infamous for many rapidly changing aspects pertaining to different topics at the time. The subject of space was one not to be left behind. This decade would be one of the world’s golden ages of extraterrestrial research and every event during this time would be recorded into history. In a period most people know as the ‘Space Race’, the Soviet Union (USSR) and the United States (USA) would compete for supremacy in space exploration. Most events occurred in this decade, but the period of the ‘Space Race’ itself lasted from the 1957 to 1975. Sputnik 1, the world’s first artificial satellite, was launched on October 4th, 1957 by the USSR. Sputnik itself was a polished metal sphere, 23 in. in diameter, with four external radio antennae to broadcast radio pulses. It was sent into an elliptical, low-Earth orbit and provided scientists with information. Its purpose was to measure the density and composition of the upper atmosphere, as well as measuring solar radiation, magnetic fields, cosmic rays, etc. It travelled at about 18,000 mi. per hour, taking 96. 2 minutes to complete each orbit. Signals continued to reach Earth for 22 days until the transmitter batteries ran out of energy on October 26, 1957. Sputnik burned up on January 4, 1958 as it fell from orbit upon reentering Earth’s atmosphere. It travelled at about 43. 5 million miles and spent a total of 3 months in orbit. Although life had been sent into space before, Yuri Gagarin would be the first human to exit Earth’s atmosphere. He was born on March 9, 1934 in a small village in the Soviet Union called Klushino. The cosmonaut boarded onto Vostok, a craft that consisted of a spherical descent module, 2. meters in diameter, which housed the astronaut, instruments, escape system, and a conical instrument module, containing propellant and the engine system. Upon reentry into the Earth’s atmosphere, the cosmonaut would eject from the craft at about 7,000 m. and descend via parachute, while the capsule would land separately. Gagarin’s mission to circle the Earth on April 12, 1961 lasted for 1 hour and 48 minutes. He was only 27 years old at the time and that was the first and last time he went into space, since he was too valued to send on a risky mission again. Gagarin may have been the first human in space, but Alan Shepard became the first American to exit Earth’s atmosphere. He was born on November 18, 1923 in Derry, New Hampshire. Although the flight was originally scheduled for October 1960, delays by unplanned preparatory work meant that this was postponed several times, initially to March 6, 1961 and finally to May 5. On April 12, 1961, Soviet astronaut Yuri Gagarin had become the first person in space and to orbit the Earth. On May 5, 1961, Shepard piloted the Freedom 7 mission and became the second person, and the first American, to travel into space. The suborbital flight only lasted a mere 15 minutes, but the launch was seen live by millions. While the USSR was showering in fame and glory, ahead of the US in the ‘Space Race’, America’s President John F. Kennedy declared the dramatic and ambitious goal of sending a citizen safely to the Moon before the end of the decade on May 29, 1961. This was announced before a special joint session of Congress. This decision would soon change the world forever in 1969. The Soviet Union left the United States in the dust again when they sent Alexey Leonov, a Russian cosmonaut, to become the first human to conduct a spacewalk on March 18, 1965. He was born on May 30, 1934 in Listvyanka, Kemerovo Oblast, USSR. His walk in space was originally to have taken place on the Vostok 11 mission, but this was cancelled, and the historic event happened on the Voskhod 2 flight instead. He was outside the spacecraft for 12 minutes and nine seconds, connected to the craft by a 5. 35 m. tether. America was humiliated once again in early 1966 as it watched the USSR successfully land the world’s first spacecraft to achieve a soft landing on the Moon. Luna 9 was launched on January 31, 1966 and landed on the Moon’s surface on February 3, 1966. Its mission was to land safely on any planetary body other than Earth and to transmit photographic data back. Signals lasted for 6 days until the last transmission was sent on February 6, 1966. The spotlight was moved from the Soviet Union onto the US for once when the country launched the Apollo 11 mission, an event that would forever change history. The primary objective of Apollo 11 was to complete a national goal set by President John F. Kennedy on May 25, 1961: perform a crewed lunar landing and return to Earth. The crew consisted of Neil Armstrong as the Commander, Michael Collins as Command Module Pilot, and Edwin â€Å"Buzz† E. Aldrin, Jr. as the Lunar Module Pilot. Apollo 11 was launched on July 16, 1969 and successfully landed on the Moon on July 20, 1969. Millions of American watched the event live on television. Armstrong set foot on the moon and declared â€Å"That’s one small step for man, one giant leap for mankind. † A few minutes later, Aldrin joined him. Together they collected soil samples and took photographs. They stayed on the moon for 21 hours. Many experiments were tested and 22 kilograms of lunar samples were collected. On July 24, the astronauts returned home aboard the command module Columbia, landing in the Pacific Ocean. On August 13, they rode in parades in their honor in New York, Chicago, and Los Angeles. Indeed, the time of the ‘Space Race’ is one not to be forgotten by the world. The Soviet Union and United States must be well acknowledged for all the effort spent on the study of space alone. While the USSR won some battles, the US won others. That, however, will never change the fact that they impacted the world, science, and history today.

Calculating Profit

The Role and Rights of Women in Western Europe and Eastern...

During the long nineteenth century, political revolutions, industrialization, and European imperialism resulted in dramatic changes in the role of women in Western Europe and Eastern Asia. As industrialization spread in Western Europe, women were no longer able to fulfill their dual role as a mother and a worker. After the introduction of industrialization, laborious tasks were moved from the household to factories and women were forced to choose either the life of a mother or the life of a worker. Women who chose to leave their households were subjected to harsh conditions, low wages, and long hours. The majority of married and middle-class women were confined to the home, and deprived of an education and civil rights. Unlike the†¦show more content†¦As industrialization spread in Western Europe, the production of products and goods moved from the household to factories which drastically changed family life. Married women were unable to work unless they left their chi ldren and home in someone else’s care. Moreover, middle-class women generally did not leave their homes in order to work. In contrast, the women of Eastern Asia rapidly joined the work force after the introduction of industrialization and made up a gigantic portion of the labor force. This difference is probably due to the fact that the rural women of Eastern Asia were always laborers, and they make up the majority of the female population. Additionally, European women generally preferred domestic labor to laborious tasks. Rural women were offered independence by leaving their homes in order to perform domestic work; they generally sent their earnings to their families or saved it for themselves. Moreover, the European women that participated in the work force were forced to travel long distances and were separated from their families from long hours. 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Analysis Of Parmenides Poem On Nature - 992 Words

In Parmenides’ poem â€Å"On Nature†, he argues that all things must meet three criteria to be classified as possessing ‘isness’, or having qualities that constitute existence. In order for anything to exist, the object must have no genesis or perishing, no change, and no qualitative distinction. In this paper, I will argue that Anaxagoras provides the best objection to Parmenides’ argument compared to both Empedocles and Democritus because he addresses more of the criteria put forth by Parmenides. Empedocles’ argument against Parmenides addresses genesis and perishing as well as change. He claims â€Å"there is no creation of substance in any one of mortal existences, nor any end in execrable death† (fr. 4). The passage suggests that which exists can have no beginning or end. Since the material explainers exist, they have no genesis or perishing. Also, objects remain â€Å"unmoved (because) they follow the cyclic process† of con tinual exchange (fr. 9, ll. 11). The fragment suggests that continuous movement equates to the absence of movement because if something is constant it remains unchanged. Anaxagoras proposes a response to Parmenides that addresses genesis and perishing, change, and qualitative distinctions. The response centers on eternal seeds that act as the building blocks for all objects. The seeds fit the criteria of having no genesis or perishing because they are eternal and therefore possess no beginning or end. He also presents the idea of the Mind which isShow MoreRelatedAristotle s Views On Metaphysics And Cosmology1481 Words   |  6 PagesParmenides, although generally ascribed the position of a monist, offers arguments through his poem that are not so clearly of monist persuasion and at times, creates a whole host of possible meanings. His views on metaphysics and cosmology seem to differ from his predecessor Heraclitus’ doctrine of flux, believing instead that all is continuousl y one and unchanging, maintaining that beings are what exist and non-beings cannot exist through the acknowledgement that what is existent cannot be createdRead MoreParmenides and Heraclitus5510 Words   |  23 PagesThis paper looks at two Greek philosophers, Heraclitus, and Parmenides. It examines their different theories as to how the universe was created, understanding of the universe, way of truth, way of opinion and the third way. The author explains that Parmenides, who came after Heraclitus, addressed part of his writings as a refutation of Heraclitus? views. He objected both to Heraclitus? view of the universe and how Heraclitus felt people could gain knowledge of it. From the Paper: WhileRead MorePhilosophy And Science Of The Same Breath2132 Words   |  9 Pagesquite an expert in the arts.† This praise is echoed in nearly every account of Democritus’ abilities, and he was well respected even among those who disagreed with his ideas. Democritus is reported by Diogenes Laertius to have written some 70+ books, poems, treatises and such, none of which survive except in references to their arguments. The most frequent commenter on the writings and ideas of Democritus is Aristotle, who seemed to consider him a prominent philosopher and somewhat of a rival in theRead MoreBroken Family3761 Words   |  16 Pagesliterature, epistemology, justice, virtue, politics, education, family, militarism Notable ideas: Theory of Forms, Platonic idealism, Platonic realism, hyperuranion, metaxy, khà ´ra Influenced by: Socrates, Homer, Hesiod, Aristophanes, Aesop, Protagoras, Parmenides, Pythagoras, Heraclitus, Orphism Influenced: Most of subsequent western philosophy, including Aristotle, Augustine, Neoplatonism, Cicero, Plutarch, Stoicism, Anselm, Machiavelli, Descartes, Hobbes, Leibniz, Mill, Schopenhauer, Kierkegaard, Nietzsche

Marketing and Strategy Lush Company

Question: Discuss about theMarketing and Strategyfor Lush Company. Answer: Introduction Lush Company deals with fresh handmade cosmetics and includes the pricing policies based on the mission statement of the company. The company decides to introduce new products into the market for the Christmas festival. It introduces the autumn leaf bath bomb that increases the customer satisfaction. Discussion While launching the new product in the market, Lush Company implemented certain pricing strategies that helped them to increase the sales and gain more profit. The company takes the help of the price skimming strategy and sells the product to the customers at a higher price. In the opinion of Yan and Ke (2015), the skimming strategy is helpful in reaching the breakeven with lower number of sales. The customers of Lush consider that higher the price of the product, the higher is the quality. Therefore, setting the price at a higher price allows the company to establish a satisfaction within the customers. As per the information achieved from the companys website, it can be inferred that the company to promote the new product uses no promotion or loyalty program since according to them the product price is set at fair price ('Lush' Lushusa.com, 2016). However, Hollensen (2015) argued that to build a strong relation between the company and its potential customers, a loyalty card is needed to be created. Conclusion The pricing strategy that the company uses is based on the psychology of the customers. However, launching a new product in the market becomes more effective when the company uses the price penetration strategy and sells its products at a comparative lower price. The strategy helps the company to attract a number of customers to purchase the new product. References Hollensen, S., 2015.Marketing management: A relationship approach. Pearson Education. 'Lush' (Lushusa.com, 2016) https://www.lushusa.com/ accessed 5 November 2016 Yan, B. and Ke, C., 2015. Two strategies for dynamic perishable product pricing to consider in strategic consumer behaviour.International Journal of Production Research, pp.1-16.