Contemporary Issues in Auditing Assignment Example | Topics and Well Written Essays - 3000 words

Contemporary Issues in Auditing - Assignment Example An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe our that our audit will provide a reasonable basis for our opinion. Our audit procedures will include test of of documentary evidence supporting the transactions recorded in the transactions, tests of physical existence of inventories, and direct confirmation of receivables and certain other assets and liabilities by correspondence with selected customers, creditors, legal counsel, and banks. At the conclusion of our audit, we request certain written representations from you about the financial statements and other related matters. Our fees for this audit will be based on the time spent by various members of our audit staff at our regular rates, pus direct direct expenses. We will notify you immediately if any circumstances we encounter that could significantly affect our initial audit fee estimate f In order to us to work as efficiently as possible, it is understood that your accounting staff will provide us with the prior year's trial balance on or before January 15, 2008, and also with the schedules and and account analysis described on the separate attachment. It is standard operating procedure tha... ..................... February 20, 2008 Delivery of audit report......................... March 5, 2008 Our fees for this audit will be based on the time spent by various members of our audit staff at our regular rates, pus direct direct expenses. We will notify you immediately if any circumstances we encounter that could significantly affect our initial audit fee estimate f8,000. In order to us to work as efficiently as possible, it is understood that your accounting staff will provide us with the prior year's trial balance on or before January 15, 2008, and also with the schedules and and account analysis described on the separate attachment. If these arrangements re in accordance with your understanding, please sign this letter in the space provided and return to a copy to us at your earliest convenience. Very truly yours,----------------------------------- Carter and Corbin Chartered Accountants Accepted by: ____________________ Date Ethical Part cover 15% - The information that should be passed to the new auditors- clearance from previous auditor To the Stockholders, Rentokill Initial London November 28, 2007 Dear sir/maa'am: It is standard operating procedure that a new external auditor must contact your company's former external auditor. Thus, please send us recommendation letter addressed to your prior

Quantitative Analysis for Managers Essay Example | Topics and Well Written Essays - 750 words

Quantitative Analysis for Managers - Essay Example This essay describes an allocation of manufacturing overheads and explaines it using an examples. This essay responses to the request for the analyses of the allocation of manufacturing overheads related to two our products. A comprehensive report detailing the allocation basis and possibilities of our two products Rona Loa coffee and Colombian coffee along with their related implications and recommendations are provided for your study. Using activity based costing as the basis for assigning manufacturing overhead cost to products, the researcher established the total amount of manufacturing overhead cost assigned to the Rona Loa coffee and to the Colombian coffee for the year amounts to  £32,900 AND  £7,300 respectively. The amount of manufacturing overhead cost per kilo of the Rona Loa coffee and the Colombian coffee amounts to  £0.33  £3.65 respectively. The unit product cost of one kilo of the Rona Loa coffee and one kilo of the Colombian coffee amounts to  £4.83  £7. 15 respectively. The researcher also calculated costing as the basis for assigning manufacturing overhead cost to products, the total amount of manufacturing overhead cost assigned to the Rona Loa coffee and to the Colombian coffee for the year amounts to  £32,900 AND  £7,300 respectively. For detailed working regarding the calculation of these amounts please refer Appendix A and B. It also provides the reader with the detailed statistics tables and results.... Traditional costing systems therefore can result in significant under-costing and over-costing. However, traditional costing systems are simpler and easier to implement than ABC systems. The use of such a rate enables us to determine the approximate total cost of each job when completed. In recent years increased automation in manufacturing operations has resulted in a trend towards machine hours as the activity base in the calculation. It is believed fluctuations in product costs serve no useful purpose. To avoid such fluctuations, actual overhead rates could be computed on an annual or less-frequent basis. However, if the overhead rate is computed annually based on the actual costs and activity for the year, the manufacturing overhead assigned to any particular job would not be known until the end of the year. Simplistic overhead allocations using a declining labour base cannot be justified, particularly when information processing cost are no longer a barrier to introducing more s ophisticated cost systems (Drury 2004). ABC provides a way to allocate costs more accurately when overhead costs are not incurred at the same rate as direct labor hours. Using ABC means that all the individual activities that are part of a process can be accurately costed. For example in case of our entity it will be possible to accurately determine the cost of each activity involved in processing a coffee from input to final packaging. In this way it will be easy to identify the most and least expensive parts of the process. Process improvement activity could then focus on the most expensive parts of the process. A model could then be constructed showing a comparison between the existing process costs and the redesigned process and its associated costs.

No Taxation Essay Example for Free

No Taxation Essay The demand of No Taxation without Representation was the primary force in motivating the American revolutionary movement. It was also a symbol for democracy and freedom to the American people. The slogan described how Americans weren’t represented in British Parliament. Americans said that they did not vote for someone to represent them in Parliament and therefore, cannot be taxed. Justice is what the people wanted.In the mid-1700’s, due to the high debt created by the British after the French and Indian War, parliament created a series of new taxes used on only the American colonies to gain revenue. One of the most unpopular taxes, called the Stamp Act, required a stamp to be put on all legal documents for a certain fee. This upset many people in the colonies including the Virginia House of Burgesses, which was the legislature in Williamsburg, Virginia, at the time. The committee there created a resolution to ask the same rights as Britons, who had representatives in Parliament to defend themselves against taxation without representation (Document A). As Daniel Dulany says in Document C, â€Å"A right to impose tax on the colonies, without their consent for the single purpose of revenue, is denied†¦Ã¢â‚¬  Dulany and many others agreed that taxing the colonists for revenue, or to make money, should not be allowed without the colonists agreement. Dulany also says that regulating the trade of the American Colonies is within the rights of the British to do so without American consent. The Americans took this to heart, and by 1765, the phrase of no taxation without representa tion was a common thought supported by Dulany’s idea. The British then came up with Virtual Representation. Virtual Representation is the idea that every member of the British Empire is represented by every Member of Parliament. The colonists disagreed with Virtual Representation, still displaying their anger or unconstitutional taxes through No Taxation without Representation. In Document F, the Second Continental Congress explains why they believe in the idea of independence and the explanation of taxation without representation is the first thing the address. In his pamphlet, Common Sense, Thomas Paine explains the absurdity of an island, England, ruling a continent, America. Common Sense begins to stir thoughts of revolution and independence in the minds of Americans.

Water Scarcity in Singapore

Water Scarcity in Singapore Student Name: Rosa   Abstract This report mentioned about the water scarcity in Singapore. There are lots of water problems happened over the few past years. I have searched several websites and some scientific essays about the problem which is discribe as a serious water shortage in Singapore. The hypothesis is that they can improve the situation if they continue to follow their policy, and the final findings actually proved my hypothesis. At last, several solutions are compared and judged, such as using water from another city while developing the water system inside their country. Also, other ideas and factors are concerned in this report. Introduction This is a scientific report which is all about water scarcity in Singapore. It is a serious problem that their usable water is really in a shortage level. Every living life there lived on their limited water resources. These problems mentioned different areas in water chemistry, such as analyzing the elements in the water to make sure if the properties of those rivers are suitable for people to live. In China, it is common to see green water in the city, because of the impurities that came from the factories mixed in the water. (XinHua, 2011)Accorfing to the research, there are only 100 cubic metres available for each person in China. However, in rural places of China, this kind of position is even serious, these are all caused by the environment. To talk about water, aquatic ecosystem is a large factor of this area, it means the whole surroundings, including the living things and the environment in a particular place. Chinese governments had made countless laws to protect the water properties, and had encouraged people in those areas start to take actions to collect rain for desalinating. This way can actually improve the water problem but is not enough for people to use during time passed. From my point of view, the best way of dealing with this problem is to keep the strategy that they are using now, because it will be fine to keep the country going on. Methodology My research information is quite reliable, because they referred many websites from government, academic websites, and also from some famous universities. Several websites and essays are compared together in order to find the best information for my main topic. The causes of polluting water, the local situation of water in China and Singapore, the supply and the demand of water that each country faces, all the problems mentioned above are researched carefully. The reliability of each websites are checked, and the usable factors of information are selected, my hypothesis is supported by these information, so they yshould be brilliant ideas in this report. Findings According to the research I had done, water scarcity becomes the largest problem for the whole world. The increasing of population forces the government to solve water scarcity immediately. After mid-1960s, Singapore started to develop its economy, and this causes the large demand of water but citizens can not paid for it. Hence, this leaded to the water scarcity. Chew Men Leong said that Singapore mostly relied on water from Malaysia since 1927. These countries are always friends because of the relationship of water. Years later, Chew Men Leong indicated that their Singapore government should use the lands wisely and hurry up in the area of water reuse system. Then, they spent years of time working on improving the reuse system, meanwhile, they appeal people to save as much as they can. (INSEAD.edu) The biggest problems happened in Singapore are the reuse of water, and the supply problem. The website shows that it often rains in Singapore, but the lands in Singapore are too limited, there are only few lakes that can store water. Another problem is that the population in Singapore is continuing to raise, although the usable water is providing more and more by the government, citizens still do not have enough water to live. I have done same search on China, it is also a country that facing a serious situation with water scarcity, and there are some relations between these two countries. After research we can see that the government had transform water from Johor to cities in Singapore in order to improve the serious problem. Further more,from 2011, the technique of collecing water had helped Singapore increase 2/3 of their lands so that citizens have more lands to live on. Here listed the problems China has: (Graphic 1) Lagging water resource management reforms Lack of an integrated, efficient, and effective institutional system Weak water resource management Underdeveloped water rights system Slow establishment of water markets Overemphasis on engineering projects compared to management approaches Lack of a stable financing mechanism for environmental investment Insufficient attention to role of natural water bodies to support ecosystems (Glenshewchuck, 2010) Discussion Referred to the findings, the hypothesis is supported. What government did to their citizens is not enough for solving this water problem, because the information I collected had obviously shows that as the development passing, the population of people in Singapore had also raised a lot, and they are still worrying about the supply of water in their country. If this policy is used in China, it also can not solve water scarcity, especially when the population are too large, because this is the largest cause of a mass of water demand. As the hypothesis described, the government can do more to their country, such as develop more lakes for storage the rain, they had already set up a great water reusing and water desalinating system, and the weather there provides them enough rain each year, if they could use those rain, the problem must be reduced a lot. Water scarcity had disrupted peoples life in Singapore, and nowadays the problem is getting larger and larger, the governments also mad e laws to protect and remind people that fresh water is not countless. Believe that everyone in the world can see different types of advertisements both on the wall and television, they are all about telling people to save water, bacause as we know, there are only 2.5 percent of water can be used by human. In addition, we can easily find that there are some similarities between Singapore and China, although they are not in the same situation, even they are totaly different in the reasons of water scarcity, they are both need an integrated water system. They are both slow in developing water system. (Glenshewchuck, 2010) Hence, the protection and more strategies should be done by every individual in the whole world, Singapore can also use the strategies which China used, firstly compelete the policy of using water, reduce the price of water for poor peole rationaly, and then keep environment clean enough for people store water for reusing. In order to improve the environment, both of them had appeal people to keep rivers clean, and what they can do is to continue this action. Conclusions and Recommendation All in all, the hypothesis is supported by the evidences I provide before. Obviously, there are also a large amount of researches can be done, because the development is moving faster and faster, the demands are also becoming larger and larger, if they do not change this situation, it could be worse. However, there are only references from the Internet, but I think this is not enough, there should be more references from scientific books, because books are published to the public, they can not be changed by anyone. References The world bank. Dealing with water scarcity in Singapore: Institution, Strategies, and   Ã‚  Ã‚  Ã‚   Enforcement (2006), world bank [online.] Available from:   Ã‚  Ã‚  Ã‚   http://siteresources.worldbank.org/INTEAPREGTOPENVIRONMENT/Resources/   Ã‚  Ã‚  Ã‚   WRM_Singapore_experience_EN.pdf [Assessed on 5 October 2016] Hua, Xin. Beijing to fight water scarcity (2011), China daily [online.] Available from:   Ã‚  Ã‚  Ã‚   http://www.chinadaily.com.cn/china/2011-10/08/content_13851695.htm   Ã‚  Ã‚  Ã‚   [Assessed on 5 October 2016] Liping, Jiang. How to combat water scarcity in China (2011), China.org.cn [online.]   Ã‚  Ã‚  Ã‚   Avalable from: http://www.china.org.cn/opinion/2011-03/03/content_22043145_2.htm   Ã‚  Ã‚  Ã‚   [Assessed on 6 October 2016] Glenshewchuck. Water scarcity- China (2010), world resources sin center [online.]   Ã‚  Ã‚  Ã‚   Available from: http://www.wrsc.org/story/water-scarcity-china-0   Ã‚  Ã‚  Ã‚   [Assessed on 6 October 2016] Tackling Singapores water shortage, INSEAD[online.] Avaiable from:   Ã‚  Ã‚  Ã‚   http://centres.insead.edu/innovation-policy/events/documents/Singapore-WaterShortage.pdf   Ã‚  Ã‚  Ã‚   [Assessed on 6 October 2016]

Human Cloning is not a Moral Issue Essay -- Argumentative Persuasive T

Human Cloning is not a Moral Issue There has been an onslaught of protests and people lobbying for a ban on human cloning ever since Dolly the sheep was cloned by Dr. Wilmut and his colleagues. Not only has the media exploited the ethics of the issue and scared the public with images of Frankenstein and evil scientists, but many worldwide authorities such as President Bill Clinton, Jacques Chirac of France, and Prime Minister John Major of Great Britain have all spoken out publicly against human cloning and have proposed legislation and committees to regulate and/or ban it. Religious leaders and the Pope have also talked about human cloning's dangers of "Playing God" and the "loss of uniqueness" that an individual would suffer if he or she were to be cloned. Many of these fears are misguided, misrepresented, and illogical. The benefits of human cloning would far outweigh the drawbacks, and cloning research should not lose funding or be banned. The most popular objection to human cloning is the assumption that science would be playing God if it was to create human clones. Reverend Albert Moraczewski states that cloning is intrinsically morally wrong, is an attempt to play God, and exceeds the limits of the delegated dominion given to the human race. (Madigan, 8) To say that this argument is unclear and unsupported is generous. It refuses to differentiate between cloning and the interruptions of biological processes which are viewed as commonplace in today's society. Religious objections were once raised at the prospects of autopsies , anesthesia, artificial insemination, organ transplants, and other acts which were seen to be tampering with divine will. (Madigan, 3) Yet enormous benefits have been reaped by each of these... ...crime or illegal activity has a victim involved with it. Human cloning has no victim or loser in it. It is a chance for the advancement of science and humankind. Banning it or eliminating research funds would be a tremendous mistake when we haven't even perfected it or discovered all of the possible benefits. Works Cited Hopkins, Patrick D. Bad Copies: How Popular Media Represent Cloning as an Ethical Problem. Hastings Center Report April 1998: 1. SIRS Researcher. West High Library, Iowa City. 25 Jan. 2000 Madigan, Timothy J. Cloning Humans. Free Inquiry Summer 1997: 1. SIRS Researcher. West High Library, Iowa City. 20 Jan. 2000 The benefits of Human Cloning. Human Cloning Foundation. 25 Jan. 2000 Vere, Stephen. The Case for Cloning Humans. Taking Sides: Science, Technology, and Society. T. Easton (ed.); McGraw-Hill Publishing, 2000. 1-12.

William Blake :: essays research papers

William Blake is said to be a very visual artist and in his visions, is where he got all of his ideas. In this essay I’m going to explore some of Blake’s works and the visions that caused him to write about some of the things that he wrote about. William Blake, born November 28, 1757, grew up as the son of a haberdasher, Blake, with close to zero education in a London suburb due to having a bad temper. He taught himself everything that he knew. From the ages of 0 to 14, he taught himself how to read and he had read many of Milton’s pieces, the Bible, and some of Shakespeare’s work. He also taught himself Latin (Norton 65). During his free time since he didn’t attend school, he spent this time in a print shop. He spent his pocket money for engravings of different Italian Masters. All of this freedom that he had helped him to gather impressions and sensations from the world that helped him with his drawings until he died. Later in his life he decided on apprenticing as an engraver instead of becoming an artist, even though he was a friend of many of the great artists. He worked as an apprentice for a well-known engraver. His engraving skills that he learned helped him with his craftsmanship, and a higher br anch of art (Raine 9-10). Blake married an illiterate woman at the age of twenty-four, named Catherine. He decided on courting her in Battersea, and the church where they were married is the only church still standing to this very day (Raine 7). Blake encountered many hardships in his life including being arrested for making slanderous statements about different things. All of the events that Blake endured in his life had a great influence on his masterful writings and drawings. It was once said that Blake and his wife were so poor, that his wife would lay an empty plate in front of him at dinner because they didn’t have anything at all to eat, and this made Blake start drawing pictures of what he wished was on his plate. One task that he was assigned was to draw many of the monuments of kings and queens in Westminster Abbey. When Blake was young he had many different visions that also caused him to start drawing these visions on the flaps of his dad’s books.

Education in the UAE Essay

Modern educational system of the UAE, which was introduced in the beginning of the 1970s, comprises a number of private and governmental educational establishments available both for male and female students. It has 4 academic levels, including primary, preparatory, secondary and higher education. The first three levels are compulsory. Governmental schools, colleges and universities are opened for the students to study for free. Currently, about 40% of educational establishments in the UAE are private (The US Department of State, 2007). The development of the country’s educational system started in the early 1900s, when a lot of engineering schools and colleges were opened throughout the country, including the Taimia Mahmoudia (opened in 1907), Al Ahmadia (1912), Al Otaiba (1930), Al Qassemia (1935) and many others. By the early 1950s, Al Qassemia became the first systematical school, where students were provided with organized curriculum and a system of exams, and it was the first educational establishment to launch school diplomas. In 1971, when the Emirates were united and the Ministry of Education was established, the modern era of education in the UAE has started. Several important educational reformations were implemented and a series of universities were established, including UAE University (1976), Higher Colleges of Technology (1988), Zayid University (1998) and others. In 2003, the first international education zone was opened in Dubai, which is currently a center of the country’s e-learning, development and research. According to the US Department of State, 25% of total federal spending is directed to education (The US Department of State, 2007). As a part of the governmental plan â€Å"Education 2020†, since the beginning of the century such important structural changes took place in education, as enhancement of elementary school curriculum, introducing new English language programs, launching innovative teaching techniques focused on self-learning, opening new up-to-date educational facilities and so on. References Taboor, A. A. (2008, February 28). History of Education. The Ministry of Education. Retrieved November 27, 2008, from: . The US Department of State. (2007). United Arab Emirates country profile. Library of Congress. Federal Research Division. Retrieved November 27, 2008, from: .