Application of American Accounting Association- Free-Samples

Questions: 1.Using the American Accounting Association (AAA) ethical decision model explain the ethical issues involved here and recommend a course of action for Jacqui. 2.With reference to relevant case law, prepare a report for the managing partners of MYH on the strength of any negligence case that Oasis might bring against MYH. Answers: Introduction American Accounting Association (AAA) incorporated in 1916, is seen to be having a reputable and rich history for holding premier community of the accountants in academia. The diversity among the membership has been able to create an environment with appropriate innovation and collaboration. The study is intended to address the legal and the ethical issues which need to be considered by the audit division at Miller Yates Howarth (MYH). The main consideration of the study will consist of application of American Accounting Association (AAA) based on the ethical issues and the decision models. The recommendations of the study have shown an effective use of the model. The final section of the study has been seen with the relevant application of the case laws which has been prepared as per the recommendations made by the managing partners at MYH. 1.AAA Model Determination of Facts The given case is considered as per the consideration made by the MYH accounting firm. This is seen to mainly operate in NSW and Queensland. Morgan Fertilisers Pty has been further considered to be long standing client with the operations located in Tamworth and Toowoomba. Morgan Fertilisers has gone through recent changes as the contractors for the waste management has been changed to Dumparound Ltd. Jacqui Leaks one of the senior auditor has been seen to be having the knowledge about the community activities and she has been seen to be having the knowledge about the local council investigating norms in the toxic waste in one of the sites (Azahari, 2013). Identification of ethical issues The considerations of the ethical issues have been considered as per the activities of Morgan Fertilisers Pty, who has changed its contractor to the Dumparound Ltd. for management of waste. The ethical concern has been considered as per the investigation made by Dumparound Ltd. for waste management at one of the sites. The contract made between Dumparound and Morgan Fertilisers is seen to be investigated by the local council norms and the toxic level in one of the sites. The contract between Morgan Fertiliser and Dumparound has not been able to specify for any damages and has not been signed by Dumparound Ltd. The main aspect of the contract is held substantially for last 3 years and has concerning issues for Jacqui. Identification of major principals and rules, values The existing ethical and the legal concern have been considered as per AASB 102 on valuation of inventories. The cost of valuation needs to be recognized as per the asset and this needs to be carried forward for recognition of the revenue. The main applicable code has been seen to be APES 110 Code of Ethics for Professional Accountants is applicable as per Section 310 conflicts of interest. The application of the rule has shown that MYH members are expected to extend the support for ethical and legitimate objectives and apply relevant procedure in the organization (BIRD OROZCO, 2014). Specification of the alternatives The alternative specification has been evaluated as per the adjustment of the inventories and this has been adjusted in the inventories as per the years end and the dates of physical count. Furthermore, the auditor is required to analyze the inward and the outward movement of stocks with the cutoff date and established the validity date as per the closing year date (Nelson, Proell, Randel, 2016). Comparison of values and alternatives The values have been compared based on the APES 110 Code of Ethics for Professional Accountants vs. AASB 102 on valuation of inventories. The application of the APES rules of the membership has been seen with the responsibility of the employing the organization as per the professional obligations and comply with the various types of the fundamental principles. The member in the business needs to support the procedures and the rules appropriate to the organization. The important consideration for the AASB 102 rulings has been based in terms of measuring the net realizable value and the cost of asset and these needs to be carried forward with the recognition of the revenue. The inventory cost has been based on the evaluations and the reliable factors of the cost in making the assets ready for use. Identification of the alternatives access the consequences The inventory value is seen to be overvalued and the various types of the income needs are overstated in the gross profit of the company. The overvaluation has been further seen to be take place in the retained earnings. The various types of the consideration for the equity and the total assets may be seen to be overvalued as per the retained earnings. Recommended Decision The recommendation for Oasis Ltd has brought forward the negligence which has been charged during the conduction of audit at MYH. It needs to further base on the sole consideration to deal with the way MYH may or may not held for the issue of negligence. 2.Report for the managing partners of MYH The various types of the considerations as per AASB 102 on valuation of inventories has been identified as main issue and the error in the inventory valuation is based on the cost of the asset recognized or the total value whichever is lower. The inventory cost needs to be based on the cost of purchase, conversion cost and the cost incurred in making of an asset which is ready with a specified purpose. The inventory cost may or may not recovered as per the inventories which are seen to be obsolete or damaged. It has been further observed that the inventory cost has not been recovered based on the evaluated expenses and assessed the expenses based on the sales policy expansion. The important consideration for recording of the inventory is below the cost of the net realizable amount which is seen to be reliable in nature. This should not be carried with the excess amount of the expected realization of the sales amount. The inventory is seen to be overvalued with the net income and the gross profit needs to be overstated. The important consideration has been further seen to be considered as per the overvaluing of the equity of stockholder, retained earnings and amount of net profit. The overvaluation of the inventory has been further seen to be considered as per the starting period of the accounting year and the same has been seen to be considered as per the accompaniment of the time frame. The cost of goods needs to be considered as per the COGS will be high and the period of the net income and gross profit is considered to be too low. As per the Morgan Fertilisers case, the carrying value of the inventory has been considered to be particularly high based on the inventory value which has been depicted in the balance sheet of the company. 50% of the inventory has been further considered to be obsolete and this has been not supposed to include the valuation of the inventory. The different types of the considerations made for the inventory has been further seen to base on the actual value. MYH stock valuation needs to be taken into consideration by the management. The case of Morgan Fertilisers is considered as per the high inventory value and the values which have been taken into the consideration in the balance sheet of Oasis Ltd. Despite of the varying nature of the considerations, after two months the inventory value of the company has been seen to be overstated. More than 50% of the inventory has been also considered as obsolete in nature and this has been further seen to be obsolete and not included in the valuation of the inventory. The physical confirmation of the inventories has been considered as the responsibility of the management. The duty of the management has been further seen to be considered as per the checking of the inventories once in every year and this has been seen to be conducive in the establishment of the financial statement. The auditor needs to consider the evaluation with the complete review of the technique and get acquainted to the adequate and suitable audit confirmation, which is comparable with the physical inventory. The auditor needs to be present physically with the inspection and the investigation of the inventory to check the systems around the management to record the changes based on the dependability of the procedures. The auditor cannot opt for the inventory count which is seen to be available as per the alternative measures for the inventory adjustments in terms of the date of count and accurate recording of the same. The auditor needs to review the management information and the internal control with the various considerations of the tagging, identification of the obsolete and non moving items. The auditor needs to consider the various types of the cut off procedures for the valuation of the WIP and the movement in the inventory. The various types of the third party considerations are depicted below as follows: The financial statement is not seen to be true in nature The auditor has been recklessly ignoring the fact and considering the same to be untrue The errors has been committed while preparation of the final accounts There has been certain amount of negligence on part of the auditor employe The main applicable case has been seen to be done based on Esanda Finance Corporation Ltd v Peat Marwick Hungerfords (1997). The main observation has shown that the corporation has lent money as per the audit report. The default in the payment has been observed with Esanda claiming to the auditors to provide the loans as per the audit report and the breaches made in the accounting standard (Wang Cuthbertson, 2015). Conclusion The given case has been able to show that MYH has verified the stock appropriately. It has been also seen that they have been able to approve the valuation and did not consider the obsolescence for stock. The different types of the evidence has been further able to depict that Oasis Ltd. has been included for significant pressure which has been considered by the client based on the completion of the audit process with the limited nature of the time. The completion of the audit process has been further seen to be considered from the balance sheet of the company. The various considerations of the report has been also able to depict that Oasis Ltd should bring forward the significant negligence with the audit of MYH. Reference List Azahari, F. (2013). Shariah Audit in a Legal Process: Future Growth in Specialised Skills. Malayan Law Journal, 6(xciii), 118. BIRD, R. C., OROZCO, D. (2014). Finding the Right Corporate Legal Strategy. MIT Sloan Management Review, 56(1), 8189. Retrieved from https://www.redi-bw.de/db/ebsco.php/search.ebscohost.com/login.aspx?direct=truedb=bthAN=98547057site=ehost-live Nelson, M. W., Proell, C. A., Randel, A. E. (2016). Team-oriented leadership and auditors willingness to raise audit issues. Accounting Review. https://doi.org/10.2308/accr-51399 Wang, T., Cuthbertson, R. (2015). Eight Issues on Audit Data Analytics We Would Like Researched. Journal of Information Systems, 29(1), 155162. https://doi.org/10.2308/isys-50955

Suicide and Depressive Disorders free essay sample

This paper establishes a link between suicide and depressive disorders by focusing on the mental condition of a person suffering from some form of depression. The following paper examines the reasons why many psychologists link suicide with depressive disorders. The writer asserts that suicide takes place only when the person has lost interest in life and death seems to be the only option left, and this is exactly how a person in a state of depression may feel. Thus this paper explores 60 percent of suicide cases, where the factors that played the most influential roles were depression and mood disorders. Suicide is 11th leading cause of death in the United States and this is the reason why studying the possible causes has become even more important now than ever before. It is important to note that suicide is linked with depression in many cases and in this paper we shall try to establish this particular connection. We will write a custom essay sample on Suicide and Depressive Disorders or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page National Hospital Ambulatory Medical Care Survey revealed that close to 80 American take their own life everyday and some 1900 visit emergency units because of attempted suicide. It is believed that no one actually plans suicide, it happens when the problems become greater than the resources available for overcoming them. But taking ones own life is no easy task and therefore there is bound to be some psychological factors influencing the final decision. We can establish the link clearly once we study depressive disorders in detail.?

In The 1980s Art Punk Movement, The Only Thing The Market Liked Better

In the 1980's art punk movement, the only thing the market liked better than a hot young artist was a dead hot young artist, and it got one in Jean-Michel Basquiat, whose working life of about nine years was truncated by a heroin overdose at the age of twenty-seven. His career, both actual and posthumous, appealed to a cluster of toxic vulgarities. The artist wasinstinctual, someone outside mainstream culture and therefore not to be rated in its terms: a wild pet for the recently cultivated collector. Jean Michell Basquiat was indeed a great artist, however he was not meant to be a celebrity. Basquiat, gave the art world what they most desired, he filled a fetish about the freshness of youth, blooming among the discos of the East Side scene. Basquiat also fueled the audience's goggling appetite for self-destructive talent. This essay intends to prove that Basquiat did not deserve his celebrity status, through analysis of his drug addictions, his reckless lifestyle and his primitive a rt. Jean-Michel Basquiat lead an incredibly wild life. After his escape from suburbia into the feverish and frantic world of Soho, New York he primarily associated with the most renowned artists and celebrities. Jean-Michel's life was filled with the gods of monsters of the neo-primitive art movement, it all seemed so glamourous, he would model for Armani clothes, create famous art works with Andy Warhol, dance at studio 54 and sleep with Keith Harring and Maddona. But this is where the illusion ends. Basquiat's life was constant turmoil. He was perpetually in a drug induced haze, being addicted to more drugs than person could possibly invision. At a time he had a live in errand boy who would do nothing more than hook-up Basquiat with his drug-de jour. His habit eventually, and inevitably lead to his untimely death at the age of 28. While alive Jean-Michel was incredibly licentious, a bisexual artist/model/musician with a taste for every form of carnal expression can (as you might imagin e) get into a lot of trouble. He would unabashedly have up to ten relationships in the air at once and still feel the need to visit prostitutes and mistresses. In life Basquiat contracted numerous venereal diseases and was the very epitome of sexually irresponsibility. Basquiat's art mirrored his life. His paintings held bold strokes of beautiful colours over shoddy canvass painted with fury and distemper. While some may argue that the paintings of Jean-Michel Basquiat are deceptively simple many say they are sloppy works covered in irreverent text and portraits that any grade one student could imitate and improve. Basquiat would spin out art without paying any attention or care to the final product. However it is a difficult thing to prove anti-art, because of the fact that art is so personal and individually interpreted. Bibliography Basquiat: A Quick Killing in Art

Free Essays on “Teenage Use And Abuse Of Drugs And Alcohol“

â€Å"Teenage use and abuse of Drugs and Alcohol† I have learned a few things in my experience with drugs and alcohol, one of which the difference between experimentation, use, and abuse of drugs and alcohol. I see the differences as follows; three tries are experimentation, more than that is use. Abuse is characterized by the need to have the drug (whether it is marijuana, cocaine, alcohol, or tobacco) and the preoccupation with getting it. I have also learned that some of my peers are more likely to be attracted to and hooked on drugs, nicotine, and alcohol. I have concluded that the risk increases with these following factors and that more than one of these can â€Å"tip the scales.† 1. A family history of drug use or alcoholism 2. A family in turmoil 3. Learning difficulties 4. Behavioral problems before adolescence 5. Early school failure 6. Hyperactivity 7. Poor impulse control 8. Rebelliousness 9. Low self-esteem 10. The belief that â€Å"it can’t happen to me† 11. Thinking that marijuana (or cocaine, or heroin if it is not injected) is not addictive Although I do not believe that these are the reasons why I have used drugs and alcohol, I do believe that these have not helped me to â€Å"just say no.† In my years of use I have often seen warning signs in friends, that could have helped their parents notice what was going on. Instead of noticing the warning signs, listed below, they found out the hard way, through the law. The warning signs I personally have noticed in teens using drugs (including myself) are as follows. 1. A change of friends from those you know and a new friend who seem to avoid you. But don't pin all of teens troubles on "bad friends." Often the child who is already troubled is the one who is drawn to a group that is taking dangerous risks and is heavily committed to using drugs and alcohol. 2. Friendship with older teenagers and young adults. ... Free Essays on â€Å"Teenage Use And Abuse Of Drugs And Alcoholâ€Å" Free Essays on â€Å"Teenage Use And Abuse Of Drugs And Alcoholâ€Å" â€Å"Teenage use and abuse of Drugs and Alcohol† I have learned a few things in my experience with drugs and alcohol, one of which the difference between experimentation, use, and abuse of drugs and alcohol. I see the differences as follows; three tries are experimentation, more than that is use. Abuse is characterized by the need to have the drug (whether it is marijuana, cocaine, alcohol, or tobacco) and the preoccupation with getting it. I have also learned that some of my peers are more likely to be attracted to and hooked on drugs, nicotine, and alcohol. I have concluded that the risk increases with these following factors and that more than one of these can â€Å"tip the scales.† 1. A family history of drug use or alcoholism 2. A family in turmoil 3. Learning difficulties 4. Behavioral problems before adolescence 5. Early school failure 6. Hyperactivity 7. Poor impulse control 8. Rebelliousness 9. Low self-esteem 10. The belief that â€Å"it can’t happen to me† 11. Thinking that marijuana (or cocaine, or heroin if it is not injected) is not addictive Although I do not believe that these are the reasons why I have used drugs and alcohol, I do believe that these have not helped me to â€Å"just say no.† In my years of use I have often seen warning signs in friends, that could have helped their parents notice what was going on. Instead of noticing the warning signs, listed below, they found out the hard way, through the law. The warning signs I personally have noticed in teens using drugs (including myself) are as follows. 1. A change of friends from those you know and a new friend who seem to avoid you. But don't pin all of teens troubles on "bad friends." Often the child who is already troubled is the one who is drawn to a group that is taking dangerous risks and is heavily committed to using drugs and alcohol. 2. Friendship with older teenagers and young adults. ...

Health and Safety 1 Assignment Example | Topics and Well Written Essays - 2250 words

Health and Safety 1 - Assignment Example Principal contractor's legal responsibilities for notifiable projects: Monitor and oversee construction while coordinating with the contractor. Prepare and implement a plan for the project and site rules. Share relevant portions of the plan with contractors. Provide suitable welfare facilities available on site before beginning work on site, and maintain them through the project. Check competence of all parties appointed by him. Ensure dissemination of all needed information to all workers. Consult with workers before and during work on site. Assist CDM co-ordinator by liaising with him on design. Ensure security of site and safety of all workers on site. Contractor's legal responsibilities for all projects: Monitor and oversee own performance as also that of workers on site. Assume responsibility for competence for their employees. Training of their employees Providing information to their workers to enable maximum productivity and quality. Comply with requirements as set out in Part 4 of the CDM regulations document. Provide good and adequate welfare facilities for own workers. Contractor's legal responsibilities for notifiable projects: Check whether the client is aware of his own duties, and whether a CDM coordinator has been appointed and HSE notified prior to beginning work. Cooperate and coordinate with principal contractor while planning and executing work, as also setting down site rules and reasonable directions. Provide details pertaining to the work to any contractor engaged in the project, including the principal contractor. Provide information for the health and safety file whenever required. Give feedback on the plan to the principal contractor, identifying and pointing out any problems. Inform the... The main provisions outlined within the document and their introduction by project management is as follows. These are common for both MHSWR 1999 and CDM regulations, 2007, differing in scope and resultant measures: Encourage all involved (Client, design team, contractors and workers) to work towards the seamless integration of safety and health issues into the process of building construction. This has been made possible by introducing the CDM coordinator who makes compliance possible through extensive pre-project coordination between all concerned. Reduce and eliminate hazards through better planning and management from the start of a project. As the client responsibilities have been more clearly defined, it is in the clients best interests to involve designers and the contractors to identify and reduce hazards before actual construction starts, thereby reducing project creep through efficient project management and time lines. Effective targeting of effort to maximise health and safety improvement outcomes.

Consumer Behaviour Essay Example | Topics and Well Written Essays - 3000 words - 5

Consumer Behaviour - Essay Example the report is limited to the discussion and analysis of psychological and consumer environment factors and their impact of consumer purchasing decision of Red Bull energy drink. The case study of Richey & Michaels (2001) has been used to study the various marketing activities and strategies of Red Bull. In consideration to the consumer behaviour models and theories, the marketing practices of Red Bull have been discussed. In the first section, the consumer decision process has been discussed. In the second section, the impact of psychological core factors on consumer decision process has been studied and in the last section, the impact of consumer environment factor on consumer decision process has been discussed. As shown by Schiffman & Kanuk in the model of Consumer Decision Making, the three steps are very important in decision making process. These steps shape the psychological core factors of consumers, which directly influence the decision of the consumer; therefore, the three steps are very important for the companies to influence the consumer behaviour. A consumer recognises a need when he faces a problem. For example, the need for a drink may arise when an athlete has exhausted after playing a game, a spectator in the audience is lacking energy to fully participate in the concert, a truck driver is staying at the rest area on highway after long driving, a working person is back home from office, a student is lacking energy to keep a pace in studies etc. Out of the two states of consumers for problem recognition including actual state or desired state, the need for a drink will be the desired state of the consumer. After recognising the need, the repurchase research beings, if the consumer perceives that purchasing or consuming a particular product can satisfy his need. In most of the decision making process, the consumer recalls his past experiences however, when the consumer does not have any prior experience, he may need to conduct an extensive

Importance Of Proteins And Minerals For Human Research Paper

Importance Of Proteins And Minerals For Human - Research Paper Example Magnesium is one of the major minerals without which one’s moods may be affected. Magnesium enhances proper functioning of alimentary, osteoarticular, cardiovascular and the endocrine systems which in turn affects one's moods. It has a great impact on biochemistry functions in the brain, as well as, the fluidity of the neural membrane. Therefore, deficiency in magnesium may lead to depression, hallucinations, nervous fits, tremors, hyperexcitability, insomnia, and seizures. It is also essential in the management of certain emotional problems and mental disorders (Serefko and Szopa, 2013). Additionally, consuming magnesium aids in reducing and managing some diseases such as asthma, migraine, alcoholism, renal calcium stones, arrhythmias, heart diseases and premenstrual tension syndrome. This is because magnesium helps increases serotonin levels in the brain that affects moods. Depletion of magnesium in the body, allows the sodium and calcium ions to get into the postsynaptic ne uron and exit potassium ions. The increase in the influx of calcium ions leads to the production of poisonous reactive oxygen species and nitric oxide radicals. In extreme cases, neuronal death and neuronal swelling could also occur. Moreover, deficiency in magnesium ions coupled with excess calcium ions causes brain cell dysfunction. This leads to behavioral and mood disorders including depression. However, change in moods, including depression and paresthesia resolves immediately after the administration of magnesium (Serefko and Szopa, 2013). The second most important mineral in maintaining one's moods is omega-3. Omega-3 fatty acids are the long-chain polyunsaturated fatty acids that are found in various plant and marine life. People with depressive disorders are likely to have mood swings in case omega-3 is absent in their diet. Dietary changes in the intake of fatty acids are believed to have numerous pathological consequences.