This paper gives a broad description of an auditing profession and all matters that are connected with this area.
Introduction This paper gives a broad description of an auditing profession and all matters that are connected with this area. The first chapter concerns Polish auditing regulations. It focuses also on conditions that must be fulfilled to perform auditing profession in Poland. In the next three theoretic chapters it discusses types of auditing, internal control system and its importance for the company and relations between internal and external auditing. The fifth chapter is a description of an auditing process conducted in an inventory and warehousing cycle. The last chapter concerns professional ethics of an auditor, which is one of the most important fields of the reliable auditing. Chapter 1. Audit profession in Poland .1 Law regulations Accounting and auditing profession in Poland are performed in compliance with accounting law which came to daylight in 1995 and was further modificated. The most recent changes came to daylight on January 1, 2002. Not only does the law state accounting rules but also describes required course of action whilst auditing financial statements. Following categories of business entities are involved in the statutory audit of year financial statements: . Holdings 2. Banks and insurance companies 3. Entities emitting public securities, including pension and investing funds 4. Joint-stock companies 5. Other entities with staff of 50
'Positive accounting theory can explain the greening of financial accounting disclosure; it can not provide a framework for improving it.' Discuss
MA in FINANCIAL REPORTING SUBJECT 'Positive accounting theory can explain the greening of financial accounting disclosure; it can not provide a framework for improving it.' Discuss with reference to the problems faced in the development of social and environmental reporting both in the UK and overseas. INTRODUCTION This assignment attempts to evaluate the Positive Accounting Theory's (PAT) ability to explain the increasing inclusion of Environmental Reporting (ER) information in the financial accounts and to search if PAT can provide a conceptual framework for the ER. So as to deal with this research, there will be presented both Watts and Zimmerman (W.Z.) job and the job of other researchers arguing about, if and how, can the PAT be related with ER. Secondly, it is going to be examined what can provide a conceptual framework for the ER. Since ER is still based on a voluntary basis and there are not yet developed standards able to provide a satisfactory framework, the answer of this question is going to be found through a survey of the related academic literature and research, the everyday practise of the companies, and the suggestions of the interested parties both in United Kingdom and overseas. . THE POSITIVE ACCOUNTING THEORY AND THE ENVIRONMENTAL REPORTING . a. A brief description of ER disclosure and PAT During the last decades companies started to pay
Global Warming
Global Warming "Global warming is an increase in the earth's temperature due to fossil fuels, industries, agricultural processes caused by human activities, natural occurrences, and other gases."1 The process of global warming is somewhat complex but often referred to as short-wave solar radiation sinking into the Earth's atmosphere and warming the earth's surface; while long wave infrared radiation emitted by earth's surface is absorbed, and then re-emitted by traces of gas. 2 Climate changes that occur in our earth's atmosphere are primarily caused by a build-up of greenhouse gases. Greenhouse gases occur naturally in the environment; however human activity produces the largest amounts of greenhouse gases. There are many problems that can occur when high concentrations of greenhouse gases are present in our earth's atmosphere. The number one problem is that greenhouse gases cause the earth to trap in more heat. When higher levels of heat are trapped inside the earth's atmosphere it causes the overall average of the temperature to increase slowly over the years as more heat continues to be trapped. There are many misconceptions individuals have about global warming, for instance many individuals believe that pollution causes global warming, but in fact global warming is the result of burning fossil fuels, coal, and oil that release carbon dioxide. Another misconception is
Statistics report
Vietnam National University, Hanoi School of Business 44 Xuan Thuy, Cau Giay District, Hanoi, Vietnam, Tel. 84-4-7680456 Fax: 84-4-7680455 www.hsb.edu.vn Mark MANAGERIAL REPORT To: Board of Directors From: Nguyen Huu Hung (Mr.) ReMBA#7 Date: 4th March 2009 Dear Sir or Madam, This is my full report about Par, Inc., and Skaff Application Company. I used statistics analysis to express the result. Case 1: Par, Inc., Par, Inc. has produced a new type of golf ball. The company wants to know if this new type of golf ball is comparable to the old ones. Therefore they did a test, which consists out of 40 trials with the current and 40 trials with the new golf balls. The testing was performed with a mechanical fitting machine so that any difference between two the mean distanced for the two models could be attributed to a difference in the two models. The purpose of this managerial report is to provide a deep statistics analysis so that Par, Inc.,'s Board of Directors can rely on. We use Hypothesis Testing to test the mean (of normal distribution) of the driving distances of the current and new golf balls. For the current balls: * Number of observations: * Population mean: * Sample mean: * Standard deviation: For the new balls: * Number of observations: * Population mean: * Sample mean: * Standard deviation: Null
International trade has many potential benefits for participating countries, yet governments regularly impose barriers to trade. By using real-life examples, discuss the benefits of international trade and the reasons why restrictions are imposed.
International trade has many potential benefits for participating countries, yet governments regularly impose barriers to trade. By using real-life examples, discuss the benefits of international trade and the reasons why restrictions are imposed. Introduction We have been trading across boundaries since we found ways to move past borders. International trade is exchange of capital, goods, and services across international borders. There are two main ways for international trade, Exporting: Sale a product that produced in a country for consumers of another country, and Importing: Buy a product that produced in another country for consumers of your country. After international trade has taken part in the world in histories, it has gain political, economic, social importance in centuries, with all those importance of international trade; it has many benefits for participating countries. Throughout this essay I will interpret international trade and its potential benefits, and discuss the barriers which are associated with it, and at the end I will contribute a conclusion based on these aspects. Benefits of International Trade There are many items in a country that it doesn't have some that natural resources; such as oil and natural gas, metals, timber, coffee, tropical fruits, etc and this country need or want them, thus, every country in the world trades something from
monetary economy
The role of any currency in international finance reflects the confidence that is a reliable liquid instrument for financial transactions and a store of value. This confidence must depend on the depth, liquidity and efficiency of currency's home or domestic markets and on investment opportunities in those markets. Since Euro is being a new currency, it is still in process of earning confidence. It is also obvious that it has a long way to go before it reaches its full potential, both domestically and internationally. The euro's role as an international currency for finance will grow as Europe develops a full array of deep, liquid, and efficient financial markets, extending its integrated money markets. When Europe started to construct the Economic and Monetary Union (EMU) some important and profound changes started to take place in the banking industry and financial markets. In Europe, these changes have been significantly powerful by the introduction of Euro. A country that participates in the EMU loses the exchange rate as an instrument for adjustments to shocks hitting its country. Alternatives for not using monetary policy are possible fiscal and market policies. While applying market policies main aims of central banks are the efficiency and soundness of payment systems. In this paper, it will be discussed the nature of changes both in capital and money markets in EMU and
Explain the impact of foreign multinational enterprises on the British economy?
Explain the impact of foreign multinational enterprises on the British economy? Britain's position as the birth place of the industrial revolution in the late 18th century gave it a unique importance in the world economic system (Jones, 1996). Britain also had a geographical advantage which enabled access for multinationals to other markets. There were many corporations which established production bases in Britain from the 1850s onwards. The first of these the Colt gun manufacturing corporation and the North British Rubber Company which established its first base in Britain in 1853 and 1868 respectively (Jones, 1988). Although they did not continue to manufacturing for very long it did pave the way for further FDI in Britain. MNCs had a considerable impact on the British economy, be it positive or negative. The main sector that FDI has shaped over the years has been manufacturing. In terms of industries, foreign MNC have been particularly influential in electrical equipment before 1914 (Jones, 1988). Also the motor car industry was dominated mainly by companies such as Ford until the 1920s and by 1939 about a quarter of British production was controlled by Ford and Vauxhall (Jones, 1988). New technologies, management and stock control have been the main factors which have been shaped by MNCs. Multinational corporations in Britain provided much employment to the British
Oil Companies
The Oily Truth By: Michael Ethridge "I need a gallon of gas please," says the man to the gas attendant. "That'll be five dollars please." As we all know this price is outrageous, but is the price really that far off? Rising oil prices have been a major concern ever since the scare of an oil shortage in the 1970's. In the past ten years, gas has doubled in price. Due to this doubling in price, many questions have been raised. Such as; why so high of a price, and who controls this continually rising price? The answer to both of these questions can be found in oil companies. These colossus companies have been and continue to prey upon the public by attempting to squeeze every single last dollar that they can out of the U.S. public. "These major oil companies have hooked their hose up to the pocketbooks of American citizens and are sucking money from ordinary Americans," said Senator Byron Dorgan (Rothschild 5) The oil industry, composed of these massive companies, will continue to take our money as long as we say nothing and do nothing about it. Their need to be additional regulations set for oil companies before they get completely out of control. Oil companies have become extremely efficient in price gouging. Price gouging by definition is simply overcharging. The average gas price at present time is $2.87, that's a sixty-five cent increase over the previous year, and a
Organizations that influence current practice in accounting include the (FASB), (SEC), and (PCAOB)
Accounting Standards Accounting Standards Professional ethics are a code of conduct for financial accountings that addresses whether the action is right or wrong. Accounting principles are guidelines that financial accountants must abide by in the preparation of financial statements to ensure the legitimacy and accuracy of the report. Many organizations have been created to make sure that financial accountants are following guidelines and acting ethically in the business. Some of these organizations include the Securities and Exchange Commission (SEC), the financial Accounting Standard Board (FASB), and the Private Company Accounting Oversight Board (PCAOB). Financial Statements The exercises in the simulation ("Accounting Fundamentals," 2002) explain and relate the four principle financial statements of accounting. These four financial statements are the income statement, the statement of owners' equity, the statement of cash flow, and the balance sheet. The income statement is a report that shows the revenue, expenses, and resulting net income or net loss over a period of time. The statement of owner's equity presents the changes that take place in the owner's equity over a period of time. Changes in owner's equity can occur as a result of variation in the amount of investment, net income, and drawing. The statement of owner's equity relies on the results of the
Business economics coursework
LONDON SOUTH BANK UNIVERSITY BA Accounting & Finance Year 1 Business Economics coursework Unit Reference Number: December 2006 First name: Surname: Student number: Group number: Seminar tutor: Q1.Describe the British grocery market (supermarkets etc.). What kind of market structure does this market have? Provide evidence to support your case. The British grocery market is one of the most important and profitable markets in the UK. It is in great demand by providing population with food and drink products through retail outlets. Therefore the necessity of understanding its structure and prevailing tendencies arises. Albeit there is a multitude of convenience stores, grocers, flea markets, and other retailers, which reaches the number of 120,511(IGD retail figures published 16/05/2006), the extremely high concentration is noticeable in today's grocery business. Nearly 80 per cent of all shares belongs to four large corporations: Tesco (30%), Asda (17%), Sainsbury (16%), and WM Morrison (11%). The four giants expand their supermarket's netting by pushing small independent traders out of the business. Such the dominion of few firms in the market describes it as being oligopolistic. Figures from: http://www.acnielsen.co.uk/news/NovemberGroceryShares.shtml The essential purpose of all leaders in this structure is acquiring greater market power and manipulation