Accrual basis on accounting is the method of accounting that most business and professionals are required to use by law because of its matching principles. It provides better picture of a company’s profits during an accounting period. Cash basis accounting is a very simple form of accounting. In cash basis accounting, revenues are recorded when cash is actually received from customers and expenses are recorded when they are actually paid, no matter when they were actually invoiced. According to "Accrual" (2012),” Cash-basis accounting does not recognize promise to pay or expectations to receive money or service in the future, such as payables, receivables, and prepaid expenses”.
High dollar value inventory is stored in secure areas at the stores and distribution centers. Inventory consists of a large number of products, with wide variations in unit costs, which could lead to inaccurate amounts. | Given the significance of the value of inventory located in the distribution centers, the auditor would most likely want to test controls and observe the physical inventory counting at the two distribution centers. The auditor would likely test controls related to inventory at the store level and select a sample from among the 77 stores to visit. While at the distribution centers and stores, the auditor is likely to focus on testing inventory in the secure areas.
Also, based on Target’s income statements, Target doesn’t have any revenues or expenses non-recurring in nature. Due to no change in accounting policy and no nonrecurring income items, Target doesn’t have much restated financials except certain reclassified amounts in prior years, which, however, can be negligible and doesn’t affect our analysis for comparability purpose. Target operates in three business segments: U.S. Retail, U.S. Credit Card, and Canadian. Target discloses detailed qualitative and quantitative information regarding these three segments in its report. Majority of Target’s current revenues are from its retail business in U.S. For the past several years, the retail sales amount and EBIT in retail segment increase steadily, and maintain a stable EBIT margin rate of around 7% each year.
Jerry Brown, Tom Harkin and Steve Forbes are among the American politicians who have brought flat tax proposals into the public eye, although despite their efforts, no flat tax has ever been passed at the federal level. The Flat Tax Debate The flat tax debate is a complex one. An intuitively obvious advantage of a flat tax is that no one receives special treatment; all people whether poor or rich are taxed in exactly the same way. Proponents of Flat Tax Proponents also claim that a flat tax system would be so much simpler that it would result in considerable savings to all parties; the time and energy businesses and individuals spend annually in preparing tax forms would be greatly reduced, as would the costs to the government of collecting revenue. The Internal Revenue Service, for example, could be substantially downsized with tax returns requiring no more space than a postcard.
Bernie Madoff Scandal-The King of Ponzi Schemes This particular ethics case scrutinizes Bernie Madoff scandal in detail. This is an intriguing case that delves into how Bernie Madoff was able to conceal such large scale fraud for number of years. With this said, an appropriate problem statement for this specific case would be, “The SEC, along with number of those who had knowledge of the fraudulent activity simply swept the scandal under the rug”. Although the single largest issue concerning this case was Bernie Madoff’s blatant disregard for other in conducting the fraud, this fraud could have been detected at a much earlier stage. As the case illustrated, there were dozens of serious and valid red flags that SEC was bombarded with by efforts made from Harry Markopolos.
No, because there is no sense in calculating there jersey numbers but stats maybe. 2. The Fair Isaac Corporation (FICO) credit rating scores obtained in a simple random sample are listed below: A. Mean Median Mode Midrange 760.92 753 no mode 733 B. No, the mean here is 760.92 much higher.
It is useful when trying to see at what prices a large quantity of stock are trading outside the market in a merger. 4. No. DFA believed in efficient market theory, which implied that the price had already reflected all of the market information. So it was not necessary to do fundamental analysis.
OHS Hazard Identification Activity 1 * 1 How can the responsible person make an assessment as to which hazard identification tool to use? By first considering what the required outcome needs to be the responsible person can look over policies and procedures to work out not only what hazard identification tool would be the best to use but also the correct way to put the tool into use and to make sure the outcome will result in correctly identifying the hazards. By looking at previous outcomes the responsible person can also see if the tool has worked previously and how well it may work in the future What are some examples of hazard identification tools? Some of the tools used to identify what may become a hazard in the workplace are safety audits, MSDS sheets, body mapping, interviews with employee, having workplace walkthroughs or inspections, reviewing all previous incident or hazard reports and also reviewing things such as the plant or machinery diaries and the registers for the dangerous or hazardous goods that may be at work, ctivity 2 * What are some underlying reasons for utilising hazard identification tools? So that information can be collected on various specifics that relate to that hazard by using the tools and if the correct tools are used there should be a reduction in the injuries surrounding the hazard.
Because the risk can’t be eliminated entirely, the risk management process allows information security program managers to balance the operational and economic costs of protective measures and achieve gains in mission capability (NIST, 2011). Principles and Fundamentals The most effective way to implement risk management is to identify systematically critical assets and operations, as well as vulnerabilities across the agency. Risk is the impact of the realized threat on vulnerability as per the following risk equation: Risk = Threat × Vulnerability × Event Cost. Threat is the likelihood that a particular vulnerability will be successfully attacked over a certain period. Vulnerability is any weakness in a given system whose exploitation leads to a violation well as any non-compliance with any mandated information security requirements.
Lists of indicators are not exhaustive and to be used carefully and sensitively in the assessment of vulnerability and risk. People who are abused may develop a pattern of behaviour that they feel will reduce the chances of the abuse re-occurring. This needs to be borne in mind when trying to understand why a person is behaving in a certain way. It is important to remember that abuse occurs where there