Gold Bear Golf INC. Essay Example for Free

Gold Bear Golf INC. Essay 1.The professional auditing standards have a set of five management assertions. Of the five assertions, three are very important in regards to the Paragon audit. The descriptions below, audit procedure is explained that would have ensured the audit was completed accurately. a.Occurrence- The management assertion that ensures a particular transaction actually happened. In the case of a construction company such as Paragon, this could be verified by going to a job site and checking to see if the job is actually happening. b.Valuation/Allocation- The management assertion that ensures the transactions are accounted for the correct amount. Changing from percentage-of completion method to the earned value method resulted in significantly overstated revenues and material misstatements in the financial statements. The audit procedure that should take place in this situation is inspection of the records. Looking back at the records would show the change was not supported by the accepted accounting standards. c.Presentation/Disclosure- The management assertion that ensures all changes within a company are stated in the notes of the financials. These changes should be easy to understand and depict a complete picture of the company from the year. The audit procedure that should have taken place during the audit is inquiry. Sullivan and the staff should have questioned the managers on his or her decisions instead of taking their word as to why the changes were made. 2.The audit failures the SEC were referring to was the fact that Sullivan and his staff relied on the manager’s word. Sullivan and staff did not perform the accurate assertions to test the information provided from Paragon’s managers. The audit partner, Sullivan in this case, is the individual who is in charge of ensuring everyone on the audit is performing his or her job completely and accurately. Sullivan will take the blunt of the responsibility because he is ultimately the person who is in charge of overseeing the auditing the audit as a whole, but the audit staff should also face consciences from the findings. 3.A high risk audit means the chance that of material misstatement and fraudulent activities are significantly higher. Weak controls, changes in management, and changes in accounting methods are several reasons why an auditor would conclude a company is a â€Å"high risk† engagement. The audit partner basis the risk of engagement on his or her observations from the company. When working a high  risk engagement, an auditor will examine a higher percentage of the transactions from throughout the year. Checking more transactions means the auditors are going to produce the most accurate financials possible and ensuring no fraudulent activities are taking place within the company. 4.Auditors do have the responsibility of following the AICPA Audit and Accounting Guides for specialized industries. The AICPPA set guidelines for companies in these industries to follow to ensure the end product is of highest quality. Auditors should make sure the managers are following all of the rules and regulation set forth for that type of company, but these guidelines should never override or replace the Statements on Auditing and Standards. The Statement and Auditing Standards is the rule book for how and what is to be performed in an audit. the AICPA should make the Audit and Accounting Guides for specialized industries in accordance with the Statement and Auditing Standards so the companies are operating with the highest quality, in both products and financial standing. 5.When making a change in the accounting principle used within a company, there has to be very good reason why the company wants to. When these changed are made, they must be presented retrospectively. Managers must produce the financial statements for the past several years so the public can see the effects it has on the company. On the other hand, the changes in accounting estimates are applied prospectively. Managers use the new method in estimating cost and revenues from that point forward. The changes Paragon made are for accounting estimates. The percentage-in-completion method and the earned value method are accounting estimate methods. Boyd and Curbello will use the new method from that point forward. The problem Paragon ran into is disclosure. The changes were not properly disclosed in the financials. This is a problem because two method result in very different numbers for the company.

How does ICT affect both family and society? :: ICT Essays

 « There may be a reduced number of manual jobs. This is because computers and machinery can be used instead.  « ICT allows you to work from home. This is an advantage of no travelling and being able to live in any part of the country.  « There may be a reduction of jobs available because of the decrease in manual work. This would cause an increase in unemployment.  « The use of ICT gives the opportunity to work for yourself. It also makes it a lot easier than doing the work manually.  « There is the need to continually update worker skills, especially those who no longer spend year after year doing the same job.  « ICT can create new and interesting jobs. These can include jobs such as a computer programmer. This would also may work more enjoyable.  « With the increase in ICT there is the de-skilling or elimination of some office jobs. How will the new ICT system affect the family? A new ICT system is likely to affect the family in question, in different ways. However, it is likely to make the life of these people a lot easier and more manageable. It also allows you to be more organised. A Computer is especially helpful to school children and those who work. This is because using a computer is less time consuming, than compared to the manually writing everything up. It therefore makes life easier. Copies can be easily made meaning the family will not have to spends hours upon end rewriting documents. A new ICT system would allow the family to have improved communications around the world. The system would be equipped with the Internet and email service providers, such as Microsoft Outlook and Lycos. These facilities would allow the family to communicate with the rest of the world more easily. MSN messenger would be useful to children in the family and would also be convenient for work. The use of email is both quicker and more convenient than writing a letter. You can receive many attachments that you may have sent yourself or other people have sent. Email is a reasonably secure way of communication because you need a password to access your account. It is also useful because you can access your email from any server. You can also keep in contact with the family, no matter how far away they live. The family would have access to news on everyday events etc, via the Internet search engines and encyclopaedias. A new ICT system would allow the family to produce documents, databases, images, recordings etc. This is a lot less stressful than

Arizona Constitution

The American constitution plays a crucial role in delegating of laws in the country and it governs all citizens. On the other hand, a state’s constitution serves a similar purpose but only under the state’s jurisdiction. This constitution is the basis for other state laws including those of other sections of the state government. This implies that all the laws outlined by this constitution affect its organization, operations and maintenance. Actions carried out outside the constitutional boundaries are considered to be illegal. As such, the Arizona constitution has endeavored to effectively guide the State of Arizona by impacting on the state’s counties, schools, municipalities and corporations. This paper will discuss these distinct effects. In essence, the State of Arizona constitution sets boundaries for all laws within the state. In Article 12 of the Arizona constitution, the issue of counties has been clearly addressed. This article is detailed with guidelines regarding various aspects of counties. The county is hereby defined and its fundamental roles displayed. For instance in section 3 of this article, specifications are made on county officers, their election and term of office. A county is depicted to be inclusive of such officers like the sheriff, county attorney, treasurer, and superintendent of schools, a recorder and supervisors (Arizona State Legislature, 2007). These officers occupy these positions for a period of four years and this predicts when they cease to serve the people of Arizona. The article also specifies on the election of these officers, their qualifications, duties and powers. This ensures the effective use of the law when there are individuals or groups of people embarked on using corrupt and selfish means. Furthermore, citizens within a particular county are empowered to elect leaders of their choice and also in the enactment of county charters. Ideally, when the county’s citizens implore for the collection of taxes it must be done under the provision of the county charters. This protects citizens from unfair imposition of taxes. Municipalities are also subject to the jurisdiction of the Arizona constitution. As outlined by McClory (2001), Article 13 of the said constitutions dictates the conditions for the creation of municipalities. Section 1 of the article notes that the municipalities are not created by any special laws but by the existing legislature. The constitution mandates the minimal population for any city’s or town’s elevation into a municipality as 3,500 residents. Only then can these residents elect a board of freeholders which further develops a charter for the creation of the municipality. Again, the constitution explicitly leaves the role of enacting such crucial decisions to the citizens. Only after they have voted and a majority of the citizens having voted in favor of the charter is it passed. The Arizona constitution also gives municipalities the right to engage in business or entrepreneurial activities as stated in Article 13, section 5. This positively impacts on the municipality especially since such enterprises like garbage collection and waste disposal for all households can work positively in the municipal’s development. Apart from Municipalities, the Arizona constitution has also made provisions for other corporations. In Arizona State Legislature (2007) Article 14, Section 1 outlines a substantial definition of corporations to include associations and companies which possess powers and privileges not possessed by sole individuals or partnerships. In addition, these entities are individualized and empowered to sue others and be sued in return. This makes it simple for citizens who have qualms with such corporations to seek the intervention of the law since they are treated as such entities under the law. As constitution directs the procedures and requirements for the formation of corporations, it similarly warns that failure to incorporate these conditions will make corporations non viable and their claims inadmissible in courts. Corporations are also limited by this article in their capacity to fund political actions and endeavors. Article 15 also addresses the same issue of corporations only its concern is on public service commissions. It is in this regard that this Article establishes the Arizona Corporation Commission (Arizona Corporation Commission, 2010). As entities formed with the sole purpose of offering necessary services to citizens, the commissions perform the role of regulating and providing public utilities. The constitution also indicates that these corporations are under state regulation which aids in creating accountability and effective operations in these bodies. Finally, public education in Arizona is also another area which is strictly controlled by the Arizona constitution. This is inclusive of all types of schools be it elementary, middle or high schools. Included in this lot are also colleges and universities. In Article 11, these schools’ conduct and supervision is delegated to a board of education, superintendent of public instruction, among other governing bodies as per the law. The constitution has served citizens with low income earnings as it provides for the establishment of free schools. Furthermore, it also facilitates the acquisition of permanent state school funds which in Article 11, Section 8, should be derived from the sale of school lands, from estate shares and any bequests made to the state for educational purposes (Arizona State Legislature, 2010). Gifford and Hunter (2000) emphasize the integral role of constitutional provisions for school funding on the effectiveness of the public education system. Its impeccable endeavor to safeguard the wellbeing of the visually and hearing impaired has also ensured their appropriate treatment in their search for education.

Priam s Request For My Reflective Essay - 835 Words

Bri Wright Prof. Kiliani 11 October 2015 HUM 114 – 01 Priam’s Request For my reflective essay, I’ve decided to analyze the scene between Achilles and Priam in Book 24 of The Iliad. This is a very powerful scene, and one of the most important scenes of the book in my opinion. After Patroclus’ funeral, Achilles continued to abuse Hector’s body by tying his corpse to his chariot and dragging it around Patroclus’ barrow. The gods, however, decided that Hector deserved a respectful funeral. To make this possible, Apollo convinced Zeus and the other gods to order Achilles to allow the body to be ransomed. Zeus sends Thetis to talk to her son and persuade him to do so, while Iris goes to Priam to help him initiate the ransom. This is how the powerful scene in Book 24 is created. Priam comes to Achilles in a state of weakness, almost. He begins his speech by talking about Achilles’ father, and how he hopes for the day to see his son come back from Troy alive. Priam mentions how he has lost all of his so ns because of Achilles and the rest of the Greeks, and talks about how lonely he is. On page 231, he says, â€Å"But what is left for me? I had the finest sons in all wide Troy, and not one of them is left.† He asks for Hector’s body back and mentions the fortune in ransom he brought. He tells Achilles to pity him and think of his own father, and that he’s done what no other man has done, he’s kissed the hand of the man who killed his son. Achilles is filled with sorrow for his own