My Personal Learning Experience Of Corporate Finance And...

The following self-assessment essay will be a brief analysis of my personal learning experience of Corporate Finance and Investments module, and a brief description of my development planning. This essay includes four paths, therefore, I shall explain my motivation of studying particularly this module, my strengths and weaknesses, critical and analytical learning, as well as my future career expectations. 1.1 Motivation As stated by the business dictionary, ‘’Motivation is leaded by internal and external factors that stimulate desire and energy in people to be continually interested and committed to a job, role or subject, or make an effort to obtain a goal.’’ I strongly agree with the definition as if there is motivation, there is power to achieve your goals. My goal is to succeed in both personal and professional life. In my opinion a human being is in a continuous learning process during existence in order of being productive. Also, I think that an individual to achieve a target must always know his own priorities and limits. I am strongly motivated to learn Corporate Finance because is the foundation course for my future career targets. Ever since I have decided to study Corporate Finance, I knew that this subject is a path opening field. I am confident that my continuous curiosity of what is happening around world, interest and desire for learning different subjects will help me to prosper. On the other hand, there are also some difficulties in studying this moduleShow MoreRelatedThe Importance of Financial Reporting980 Words   |  4 PagesIntroduction Financial reporting being my last module in this course has been quiet rewarding and beneficial as it provides comprehensive guidance for the acquisition of requisite knowledge and skill to appraise my current role as an accountant. The theories, concepts and ideas introduces new areas otherwise would not have been exposed to, for example, potential uses and limitations of Extensible Business Reporting Language (XBRL). It laid solid foundation for the application of financial accountingRead MoreF.C Case Study Harvard Business School14046 Words   |  57 PagesInstructor Guide CORPORATE FINANCE COURSE NUMBER: MBA591 [pic] Jones International University ®, Ltd. 1.800.811.JONES (5663) http://www.jonesinternational.edu  ©2008 Jones International University ®, Ltd. All rights reserved. 9697 East Mineral Avenue, Englewood, Colorado 80112, USA This workbook and all accompanying audio-visual material, manuals and software (collectively, the Materials) areRead MoreF.C Case Study Harvard Business School14033 Words   |  57 PagesInstructor Guide CORPORATE FINANCE COURSE NUMBER: MBA591 [pic] Jones International University ®, Ltd. 1.800.811.JONES (5663) http://www.jonesinternational.edu  ©2008 Jones International University ®, Ltd. All rights reserved. 9697 East Mineral Avenue, Englewood, Colorado 80112, USA This workbook and all accompanying audio-visual material, manuals and software (collectively, the Materials) are copyrighted with all rights reserved. Under the copyrightRead MoreThe Pricing Of Products Is A Vital Point Of Determining The Earning Capacity Of Our Company2055 Words   |  9 PagesAfter four rounds of Avenir’s (the company’s name) operation, we found that an extravagant price is the main challenge we face with. The pricing of products is a vital point in determining the earning capacity of our company. Initially, we ramped up investment spending in research and development because consumers were obsessed with the next generation of phones (new technology). We still earned huge sums of money when pricing was high. But with the change of market conditions, the original price wasRead MoreA Study of Loan Disbursement and Recovery System of Shahjalal Islami Bank Ltd- Gulshan Branch7599 Words   |  31 PagesFulfillment of the Requirements for the Degree of Ba chelor of Business Administration Supervised By: R. Tareque Moudud FCMA, ACS, ACMA (UK) Director, Office of Placement Alumni (OPA) Submitted By: Mashuk Ifthaker ID # 08-11857-2 Major: Accounting Finance Date of Submission: May 10, 2012 INTERNSHIP AFFILIATION REPORT ON â€Å"A study of loan disbursement and recovery system of Shahjalal Islami Bank Ltd- Gulshan Branch† Letter of Transmittal May 10, 2012 RRead MoreFinance6839 Words   |  28 Pages Mr. Mohd Jamil Jelani is a Senior lecturer in banking and finance. He holds a Bachelor of Accountancy (Honours) and MBA in Applied Finance and Investment from National University of Malaysia; he is also a Chartered Accountant from Malaysian Institute of Accountants. Prior to his lecturing career, he served as a Group Financial Controller of a local company. Mr. Mohd Jamil has a wide experience in the teaching of Accounting and Finance, as he has been involved in the academic field for more thanRead MoreDebonairs Pizza Product-Market Expansion Growth Strategies27204 Words   |  109 PagesProgramme Objectives 5.2 Programme focus 5.3 Module description and rationale PROGRAMME ADMINISTRATION 6.1 Programme Management 6.2 Programme registration 6.3 Registry and despatch 6.4 Finance 6.4.1 Fee payment 6.4.2 Payment of fees and other dues 6.4.3 Re-enrolment 6.4.4 Payment plans 6.4.5 Additional fees/charges 6.4.6 Deferrals 6.4.7 Miscellaneous costs 6.4.8 Cancellation of registration/fee liability 6.4.9 Registration of specific/incomplete modules 6.4.10 Payments 6.4.11 Account Det ails 6.4.12Read MoreInternship Report on Hbl6597 Words   |  27 Pagesability and potential to complete this Internship. I also pay my gratitude to the Almighty for enabling me to complete this Internship Report within due course of time. Words are very few to express enormous humble obligations to my affectionate Parents for their prayers and strong determination to enabling me to achieve this job. I take this opportunity to record my deep sense of gratitude and appreciation to my university, which made my internship possible for me, as I am enrolled in Department ofRead MoreMarket Research About Scope And Relevance Of Ug Products5777 Words   |  24 PagesMARKETING By ï  ¶Ã¯â‚¬  Dhruv Verma Enrolment No: 1221000643 E-mail: vermadhruv05@gmail.com Under the Guidance of Mr. Devendra Mishra Marketing Manager (Lilac Education Services Pvt.Ltd.) Institute Management and Technology (IMT-CDL) My Internship in Lilac Education Services Pvt.Ltd. gave me a privilege to do Market Research in education industry. The objective of Internship was to find the Scope and Relevance of UG Products in Ghaziabad. This survey was conducted with the help ofRead MoreBusiness Plan For A Company9569 Words   |  39 PagesPositioning Statement 7.5 Pricing Strategy Sales 8.1 Sales Strategy 8.2 Sales Forecast 8.3 Sales Programs 8.4 Strategic Alliances Management 9.1 Management Summary 9.2 Management Team 9.3 Management Team Gaps 9.4 Organisational Structure 9.5 Personal Plan 9.6 Human Resource Management Pricing Policy 10.1 Supplier Details Financial Plan 11.1 Start-up Summary 11.2 Start-up Budget 11.3 Financial Introduction 11.4 Important Assumptions 11.5 Monthly Costs References Supporting Statement

Early Childhood Education Goal For Qualified Teachers

In the Pathways to the Future: NgÄ  Huarahi, the 10 year strategic plan for Early Childhood Education goal for qualified teacher in centres should be by these years: - 2007 50 percent of regulated staff in every teacher-led service are required to be registered teachers - 2010 80 percent of regulated staff in every teacher-led service are required to be registered teachers - 2012 all regulated staff in every teacher-led service are required to be registered teachers. (Ministry of Education, 2002, pg 14) Since this plan developed by the sector and the government was put in place, the Minister of Education has changed the amount of qualified teachers in centres. The Minister made this change as he felt that there will be insufficient qualified teachers available to meet the 2010 targets. (New Zealand Kindergarten Inc., 2009). I believe that for children to have quality early childhood education then there needs to be fully qualified teachers in all centres to support children through this vital period in their lives. Clare Wells, Chief Executive of New Zealand Kindergarten Inc. agrees with me and has said â€Å"It seems the government has decided that 80 percent qualified and registered teachers in a centre are enough† (New Zealand Kindergarten Inc., 2016). Qualified teacher’s in early childhood education matter for the children of New Zealand. I will use research and literature to argue my position on this issue. I will talk about the key aspects of only having toShow MoreRelatedThe Early Childhood Development Of Australia1269 Words   |  6 Pagesrecent years the early childhood sector in Australia has undergone a number of legislative and organizational changes, which have impacted on the overall structure of service provision in Australia. Initiatives introduced by the federal government have changed the face of childcare from simple ‘child minding’ services, to full early childhood educational facilities, offering comprehensive age specific ‘high quality’ educational curriculum, which cover all ages and stages of early childhood developmentRead MoreEarly Childhood Curriculum For New Zealand927 Words   |  4 PagesBackground This physiological approach is the early year’s curriculum for New Zealand was published in 1996 after there was consultation with practitioners from the child care sector. The values (Lee 2013 p.3) ‘reflected in Te Whariki’s focus on equity and respect for children’s rights (and responsibilities), together with the aim of supporting children growing up in a democracy in which they will make a contribution.’ Two people who were given the responsibility to develop the curriculum were;Read MoreUnderstanding The Professional Roles Of Supporting Consultee And Consultant Field Of Early Childhood Education Essay1200 Words   |  5 Pages Why Program Selected The program I have selected for this assignment on consultations in Early Childhood settings is Sunshine Academy Early Education Center located in Brookline, Massachusetts. Sunshine Academy philosophy focuses on each child’s unique abilities and potential. Engaging qualified staff with a caring, nurturing, loving and supportive attitude, and to create opportunities for families, and staff to be involved in all aspects of your child’s care. Diversity of families of everyRead MoreEarly Childhood Education More About Care Than Education Essay1872 Words   |  8 Pages Is early childhood education more about care than education? Is early childhood more about free-play than learning? The late 1980s saw the campaign for quality early childhood education and is now seen as a site for early intervention and for the maximisation of the child’s potential from the earliest possible age (Duhn, 2009). Over the years early childhood has become a foundation for children from birth to 5 years of age making it a quality based learning which will make a life time differenceRead MoreThe National Association For The Education Of Young Children856 Words   |  4 PagesAccording to Bredekamp (2014, p. 19), â€Å"growing attention to early education primarily results from impressive research demonstrating its effectiveness in improving outcomes for children†. Throughout this research, the organization â€Å"National Association for the Education of Young Children (NAEYC)†, has established a set of standards for early childhood educational progr ams (Bredekamp, 2014, p. 5). These standards were created specifically to help families determine which preschool, kindergartenRead MoreEffective Devices And Its Positive Effect On Children1725 Words   |  7 Pages A research that investigated the idea of employing appropriate devices and its positive effect on children, children at an early age can use computer programming and computerized exercises in a method in accord with educationally appropriate implementation (Bern, Horn 2010). The main purpose of this research was to employ the technology of TUI (Tangible User Interface) to principally re-visualize the method children use for computer programming, the improvement included the curriculum and theRead MoreAn Early Childhood Educator Can Reconstruct The Life Of A Child1708 Words   |  7 Pagesbecoming an Early Childhood Educator can reconstruct the life of a child (Rawlings 127). Early Childhood Education is a profession that works with children from birth up to eight years of age (Garvis and Pendergast 104). Most of the theory of knowledge in early childhood is that children learn through movement. When children engage through play they develop a sense of individuality that helps them discover who they are, build relations with others, and understand their cultural background. In early childhoodRead MoreThe Random Assignment Perry Preschool Project On Soft Skills As Well, But No Sustained Iq Gains1165 Words   |  5 Pagesparental education, and housing density (Schweinhart). Unlike the Head Start study, the design involved random assignment to either a preschool program group or a no-preschool program group with elements of accommodation to reality (for example, younger siblings were assigned to the same groups as their older siblings to prevent the spread of program effects into the no-program group). This allowed the study to be closer to a true random assignment. The program had a 6:1 student to teacher ratio andRead MoreThe Creative Curriculum Program Is An Effective Learning Style981 Words   |  4 Pagespreschool teacher, Diane Trister Dodge, this early childhood education program with a comprehensive curriculum is structured to be directed by the teacher, but initiated by the children. The philosophy of the Creative Curriculum is to allow the children to learn at their best efforts in an environment that is safe and open for exploration. Child centers that use this curriculum allow the children to develop and learn through planned programming, select materials, and guided learning. The goal is toRead MoreEssay on The Benefits of Preschool1430 Words   |  6 Pagestheir children while they are at work for the day. It is in preschool where children learn the necessary skills needed to succeed in school and in life. With high-quality preschools and qualified teachers the possibilities are endless. Its not only the children who reap the benefits of Early Childhood Education; their parents, fellow peers, and even society feel the positive effects of quality preschool programs. Children enrolled in quality preschool programs are more likely to succeed academically

Essay on The Relativity of Ethical Issues - 1277 Words

Nowadays moral ethics are considered relative. Relative to culture, relative to the needs of a person, relative to circumstances and relative to what one assumes is right or wrong. Everyone has a different perspective on what is true; a person might believe that ‘x’ is true while another may not. The same concept applies to ethics, one person might say killing animals for food is correct and another might say it is incorrect as we can survive on natural food. So each person has a different estimation on making truth claims about ethics, the opinion depends on what is right or wrong and what is ethical and what is not. Social relativism lessens ethics to sociology: what is right is whatever a particular society says is right. Radical†¦show more content†¦Why else would philosophical inquiry be perceived to have advantage except on the assumption that the inquiry, if productive, moves us toward truth? The claim with the assertion that such inquiry is fruitful because it gives us a more complete understanding, or a more comprehensive viewpoint. Many scientists talk about claims being true, e.g., it is true that heparin increases the clotting time of blood. Karl Popper pointed out; science does not progress on the backs of truths, but rather, on the backs of falsifications. A good scientist does not attempt to prove his claim to be true. He tries and proves his theory false. He starts with the illogical hypothesis: If theory X is not true, then Y should not happen. Then, if Y does happen, that shows that it is not the case that theory X is not true. In other words he, is to examine as much evidence as possible, in a manner that is as precise, and as objective as possible, and only after he has failed to prove his theory false, i.e., it is not the case that theory X is not true, it is he justified in proclaiming its truth, the theory an remain open for re-evaluation. The main ethical issue in this chosen content is stem cells. Today a child lies in the hospital dying of heart failure. The expectations are low that he will be one of the people receiving a transplant beforeShow MoreRelatedCultural Relativism in Business1590 Words   |  7 Pages5D Cultural Relativism: Cultural relativism is the view that all beliefs are equally valid and that truth itself is relative, depending on the situation, environment, and individual. Those who hold to cultural relativism hold that all religious, ethical, aesthetic, and political beliefs are completely relative to the individual within a cultural identity. Cultural relativism (CR) says that good and bad are relative to culture. What is good is what is socially approved in a given culture. OurRead MoreEthics : Value Theory, Normative Ethics, And Meta Ethics1501 Words   |  7 Pagesâ€Å"questions about what our guiding ideals should be, in what sort of life is worth living, and how we should treat one another† (Landau). The purpose of these questions allows society to focus the key points of ethics, hedonism, physiological egoism, ethical egoism, and divine command theory. The questions above drive three main recognized points in ethics: Value Theory, Normative Ethics, and Meta Ethics. Value theory raises the question, â€Å"What is the good life?† The good life is driven by what it thatRead MoreConflicting Moral Arguments : Louis Vaughn s Philosophy, Moral Relativism And Moral Objectivism872 Words   |  4 Pageshow things are, but to â€Å"prescribe how things should be† (2). In Philosophy, moral relativism and moral objectivism are two conflicting but somewhat overlapping school of thought. These beliefs govern the way an individual acts; they also decide the ethical guidelines from which the law is written. In this essay we will delineate the differences between the two sects of belief. Pojman asserts that many people self-report as moral subjectivists; he writes that humans fall victim to rashly praising relativismRead MoreEthical Relativism Is An Unsound And Unreliable Ethical Philosophy1742 Words   |  7 Pages Ethical Relativism is an unsound and unreliable ethical philosophy Mohammed Jweihan Ethics for a Global Economy Ethical Relativism is an unsound and unreliable ethical philosophy Cultural and ethical relativisms are widely used theories that explain differences among cultures and their ethics and morals. Morality deals with individual character and the moral rules that are meant to govern and limit one’s character. On the other hand Ethics is somewhat interchangeable with moralsRead More Mackies Arguments Against Objective Values Essay1693 Words   |  7 Pagesanalysis has been occupied by emotivists and descriptivists concerned with the literal meaning of statements, already presupposing Mackie?s style of subjectivity but not developing a defense of this assumption. Conceptual analysis would also limit ethical inquiry to the meanings, just as discussing how color fits the notion of a secondary quality locates the property of color without actually probing its status or scientific workings. Finally, Mackie clarifies that his position concerns objective valuesRead MoreCultural Relativism And The Nature Of Truth Essay1338 Words   |  6 Pagesideologi es between cultures. Cultural relativists emphasizes the element of relativity in relation to a person’s values in the sense that the truth is dependent on or a function of a person’s cultural traditions (Brandt, 2006, p. 1). Even expanding above the notion of personal values, cultural relativism advocates for relativity in terms of ethics. This view ultimately rejects a single â€Å"correct† set of general ethical principles or ethical truth. Cultural relativism enables moral differences between culturesRead MoreA Brief Note On Medical Students Without Borders891 Words   |  4 Pagespublic health efforts. However, STEGHs have been plagued with critiques claiming the programs inflict more harm than aid, which has led to ethical violations, cultural insensitivity, and lack of sustainability. Academic and medical communities have been developing principles to eliminate controversy and encourage cultural humility, long-term sustainability, and ethical protocol. Two-thirds of matriculating medical students expect to participate in a STEGH during medical school (Melby, et al. 2015). TheseRead MoreMoral Relativism And Moral Concepts972 Words   |  4 PagesMoral relativism is a methodological principle of interpretation of the nature of morality underlying ethical theories. It is expressed in the fact that moral concepts and ideas gave extremely relative, changeable and arbitrary. Moral principles, concepts of good and evil are different in different people, social groups, and individuals in a certain way connected with the interests, beliefs, and inclinations of people, limited regarding its value time and place. But this diversity and variabilityRead MoreOutline and Assess the Use of Experiments in Social Psychology Drawing on the Cognitive Social Perspective and Phenomenological Perspective1672 Words   |  7 Pagesquestioned what actually is social psychology, and many answers can be found, however the general consensus of social psychologists is that it is the science of the socially structured mind. Prof Haslam (2006) stated â€Å"For me as a social psychologist, the issue is how is ‘the mind’, how are our thoughts structured by society?† Furthermore I will draw on two of the four main theoretical perspectives of the discipline, the first of which being the cognitive social perspective. The ontology of the perspectiveRead MoreEssay on Phil 1600 Ch 3 Questions685 Words   |  3 Pageseach of Kohlberg’s six stages of moral development? a. Stage 1: Punishment and Obedience i. This means that if one doesn’t obey the authority he will get punished. So moral decisions are made to avoid punishment. b. Stage 2: Instrument and Relativity i. Moral decisions are made based on â€Å"what’s in it for me?† Basically you need a reward system to have order. c. Stage 3: Interpersonal Concordance i. Moral decisions are made in order to maintain good interpersonal relationships. An example

Heart of Darkness, by Joseph Conrad and The Rime of the...

Marlow and the Mariner in Heart of Darkness and The Rime of the Ancient Mariner are both morally ambiguous characters with many similarities. Each embarks on a great journey in which their character is tested numerous times. Their trials lead to many profound revelations about humanity, which are explored in ways only possible because of their hazy morality. At the start of their adventures, both Marlow and the Mariner were only sailors looking for adventure and fortune. The motivations for their actions were simple; Marlow was â€Å"lost in all the glories of exploration† (pg. 13), and the Mariner was only seeking to avoid a storm. But each would be changed in profound ways by their journeys, in great part due to their ambiguous†¦show more content†¦His decision to continue no matter what caused him to wait quite a while for the rivets necessary to begin his journey down the river and the helmsman to die in the barrage of the natives before ever reaching Kurtz. But it was the same traits that allowed him to analyze the true nature of the lawless environment and of the people in it, as in his â€Å"suspicion of† the natives’ â€Å"not being inhuman† (pg. 37). The adventures of Marlow and the Mariner ended with profound revelations. After he unconsciously blessed the snakes, he was returned to his homeland by a higher power. But he had â€Å"penance more† (l. 410) to do for his actions. Upon returning, he found himself compelled to tell his story to those that needed to hear it, and to seek out new recipients of his story through long travels, teaching them all to respect all the creatures of the Earth. Upon finding Kurtz, Marlow was able to see the true significance of Kurtz’s transformation, being free from the hypocrisy of his crewmates. Kurtz, too, is tinged with moral ambiguity; he began as an upstanding, educated citizen, but even he couldn’t resist the corruption of an environment witho ut any restrictions on his actions. His lust for power and ivory consumed him, transforming him into a brutal, greedy man without respect for any kind of code. He thought of himself as a god. ButShow MoreRelatedBelonging Essay4112 Words   |  17 Pages†¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ Carver, Raymond Cathedral in The stories of Raymond Carver AF Chabon, Michael The amazing adventures of Kavalier and Clay AF Clare, Monica Karobran: the story of an Aboriginal girl AF Conrad, Joseph The heart of darkness AF Cormier, Robert The chocolate war YA Cormier, Robert I am the cheese YA Courtenay, Bryce The power of one AF Dickens, Charles Oliver Twist AF JF Dickens, Charles Tale of two cities AF JF Dostoevsky, Fydor Crime and punishment

Team and Small Group Experience Free Essays

There have a few experiences that I have had, where I have been a member of both a team and a group. There are many similarities as well as differences among a team and a group. One of the biggest and most common similarity is that both of them want to be able to reach a particular goal. We will write a custom essay sample on Team and Small Group Experience or any similar topic only for you Order Now The team that I am currently a member of is a women’s basketball team. I am also part of a small group. I met a few local girls through Facebook that have been wanting to loose weight just like me. My team was started up by some friends that wanted to form a league to play for the city. They put some ads on Craigslist and Facebook to see if anyone wanted to try out for the team. After doing the try outs and deciding who was actually going to be on the team, we got together twice per week for a period of one month for practice basketball games. Currently, we are in the â€Å"tournament period† and we play every Tuesday at 7:00 pm with other teams that are also playing with the city. We have three games left before we know how we placed and if we go to finals. After every game we get together for a few minutes and discuss how we did and what we can do to do things better and to strategize. Communication among the team has really made us improved the way that we play and make us better in every game. The group I belong is made up of six girls including myself. We all chat online and make plans, we state our goals and what we want to achieve with them. Each week one of us will make an exercising plan for the entire week and then at the end of the week we meet up somewhere to talk about how we did with our exercise plan. It is not all about work, we also get together to have some fun, like go to the movies, eat dinner or take out our kids to the park. Most of us have lost at least 10 lbs since we started our little group. We just support each other when we are lacking motivation. There are some differences that I noticed between the team and the group. For example, we had to try out for the basketball team. Then we were chosen and assigned to a position by the organizers of the team. We have all been working together to make our team better and become a good and strong team. The group that I am currently was actually made up by a group of friends that just wanted to have a support system to lose weight. We have made sure to always have something going on to help us stay fit or keep helping us lose weight. The team used practice basketball games twice a week and a little get together that we had at the beginning of the season to motivate us and help us to get to know each other. This helped us feel more relaxed at the actual games and to know how each team player was used to playing in the court. The coach and the assistant coach wanted to do these two things to ensure that there was a healthy relationship among the players because in the past not knowing each other had cause much tension in the games, causing many looses. Getting the basketball team together virtually would have not been a good idea. Practices needed to get done and there was no possible way that it could have been done over a computer, The best method of communication for the basketball team was in person, by phone or by text messaging. This methods were used to communicate with each and to be updated on times and location for basketball practices or actual games. My group of fitness pals, is able to interact virtually. We were able to chat via skype, email and use sites such as Facebook to stay in touch with each other. We were also able to interact with each other virtually to make actual plans to meet with each other on a weekly basis in person. Whenever the teams or groups meet exclusive using virtual communications, there is no physical contact, for that reason, the relationship would be more impersonal rather than personal. This is not the case with either the team that I am involved with or the group that I am involved in, since in both cases we do see each other face to face. The team and the group work well the way that they have been communicating and meeting, exclusive virtual communication would not be an option for either of them. Each player on the times played on assigned position, depending on the tryouts and what the coaches thought they would be best at. In the group, every week, a different person would take leadership and make a fitness plan for all of us, she would also plan a day during the week where we could all meet, talk or just hang out in person. It worked out better that way because that way we would not run in to reoccurring exercises or activities. Everyone in the basketball team did the same thing. We all showed up for our practice games and we would also show up 30 minutes before an actual game, just to make sure that we had a complete team. We got sponsored by my husband’s place of employment, so with the sponsorship they also gave us red uniforms for all the girls. Every week our coach assigned one of the team members to bring bottled water for all of the team players. Most of the time all of the players play fairly but in some instances things would get out of hand and the team member would either get benched or even suspended for a game. For the fitness group, there were not many rules. The only thing is that everyone had to participate in some way. Everyone had to take initiative at least once every two months two make plans and set goals on how to lose weight. That same person also had to plan something fun for us to do so that we could meet in person. Status and differences for the team was each individual team player, they had different positions and they each were in charge of covering it on the games. The coach and the assistant coach decided who would start in each position after they held the tryouts and saw us play. In rare occasions the players were change from positions, but mostly we always held our own position. In our fitness group, every week we had someone doing all the planning for our fitness goals and weight loss progress. A certain person would plan and then all of us would follow the plan and at the end of the week meet somewhere and discuss our progress. So basically the only thing that would change is that every week we had a different leader and different fitness plans and weight loss goals. According to the Maslow theory, the team’s belongingness depended on the power of the team players in that position that they were given by the coach and assistant coach to play in. Good self esteem was built because the team players feel that they are doing a good job with their position and in their own way feel that they are helping the team win the games. Safety in the basketball team was very important. All of team players needed to feel protected by one another when playing the game. The small group worked very close and well together. According to Maslow’s belongingness theory, the group worked well because they worked together to achieve a goal that they all had. Esteem was built by the group because we would talk to a daily basis and get together with each other once a week making us have some sort of bond. Each member of the group felt safe with each other because we were all working for the same urpose and we didn’t feel the need to hide anything from each other. In conclusion, I think that the main purpose of working with a team and having specific roles in it is to accomplish a goal. In this case the one goal that the basketball has is to win as many games possible. Working with a does not have many differences from a team, but in my group in particular we all have the same goal, which is too lose weight and get fit. A small difference is that on the group we are all working for ourselves instead of for a victory that belongs to everyone else. How to cite Team and Small Group Experience, Papers

Auditing and Professional Practice Australia

Question: The engagement partner has requested a meeting tomorrow to discuss audit plan for MTI She has requested several documents for that meeting. 1. A preliminary audit plan assessing internal control risk and providing preliminary judgment for detection risk. 2. A description of specific substantive procedures that could be conducted for the WIP inventory. You are required to justify the audit plan by referring to theoretical grounds learnt from this unit. Answer: Internal control is basically the processes well designed, implemented and maintained by those charged with governance, management and other personnel. The main objective of the internal control is provide reasonable assurance about the achievement of the entity objective with regard to reliability of financial reporting. It is the responsibility of the auditor to plan the audit of the financial audit. As per ASA 300 Planning an Audit of Financial report, the partner and other the team member of the engagement team shall be involved in planning the audit. (Board A. a., 2011) As per ASA 300, the auditor shall establish an overall audit strategy that set the timing, direction and scope of the audit and that guides the development of the audit plan. In the given case also Engagement partner of Dalen jay want to hold a meeting to discuss the audit plan of MTI. Before making any audit plan the Engagement partner must identify the characteristics and scope of their Engagement in the audit of the organization. As per ASA 315 (Board, 2013) Assessing and Identifying the risk of Material Misstatement through understanding the entity and its environment the auditor should identify the risk of material misstatement in the organization, whether due to fraud or error, at the financial statement and assertion levels. Thomas Smith also needs to understand the MTI and its environment including the internal control before starting any Audit plan. This will help Mr. Smith to reduce the risk of material misstatement at an acceptable low level. Business Risk is a risk which is resulting from significant event, condition, action, circumstances or inaction that could adversely affect an entity ability to achieve the objective of the entity. MTI is basically engaged in production of environmental friendly product such as recycle containers. However, the company also deals with variety of metal as well as plastics. Audit Plan Assessing risk and Judgment in detection risk for different department of MTI is as follows: Control regarding availing service of another organization: As per Guidance Statement GS 007 Audit Implication of use of Service Organization (Board A. a., Guidance Statement 007, 2011) it is duty of the auditor to obtain understanding of the nature and significance of service provided by the service organization and their effect on the users entity control. In the given case MTI is using the service of Machining and turning center suppliers which helps MTI to develop efficient operation by furnishing sample numerical control program for standard machine operation and by providing training to employee of the employees. In regard to the Service provided by the said organization Mr. Thomas need to identify the risk and internal control of MTI to deal with such risk. It has also been observed from the past working paper that due to lack of control one of the suppliers unfortunately sent the program which was infected with virus as a result of which entire system need to be clean by Tiffany with the antivirus. To avoid this time of situation Mr. Thomas smith would ask the management to prepare a report regarding service organization system, control objective, related control which has been designed and implemented during the period. Mr. Thomas Smith can also asked for the report of the service auditor with the objective of conveying reasonable assurance that include the service auditor opinion on the description of the service organization system and control objective. Further, MTI should first install all the Software purchase from the vendor in one standalone computer and after its successful installation it has been installed to another computer to reduce the risk of virus spreading in the entire network. Further, MTI must make an agreement with the supplier in case of any infected software supplied by them, they make to make good the amount of loss caused to the company due to installation of the infected software in the system. Control regarding Equipment maintenance: As per the previous working paper it has come to notice of Mr. Thomas Smith that the company used to purchase all the equipment from Tony Lee, the owner of the computer shop conventionally located three blocks away. In this regard Mr. Thomas must ask the company to get the quotation from at least three suppliers to compare the rate of the machinery which has been supplied by Tony Lee. Further, Mr. Thomas should also ascertain that what is the company procedure to ensure that proper maintaining and upgrading of the software has been done by the Tony Lee. Further, Mr. Thomas should also ask the company regarding the frequency of the updation and should check record that whether proper up gradation at regular interval has been done or not. Control regarding accounting software password: Mr. Thomas should also ensure that every person have different password. Further a log book in the system is maintained in which the details of the person using the system and making change should be recorded in order to prevent loss of data. However, in case of any undesired situation proper record should be there so that the person can be held for such undesired situation. Backup of data: Data Backup is one of the most important task of the organization. Mr. Thomas should check the company procedure for back up of data, person who are reasonable for back up of data, time interval between two back up and what document is maintained for backup. Further, since as per the company experience of lost of back up of data Mr. Thomas should ensure that the company back up is now store at a safe place. Control regarding the company data: Mr. Thomas should check what control has been adopted by MTI regarding the employee copying the Image and take it to their home. As there might be changes of theft in which the copied image can also be given to the competitor who might misuse the image of the company. Control regarding generation of reports: Mr. Thomas should have to understand how payroll is generated. How the working hours of the employee have been recorded and who authorize the working hours. Further, Mr. Thomas should also ascertain what control has been implemented in entering the input resource in the payroll system. Whether any system of cross checking is possible or not. If the cross checking is possible, then Mr. Thomas must cross check the payroll generated with the source document for some of the weeks and give their suggestion or view on the same. After generation of pay book and during payment of money to the worker the company must take signature of the worker in the pay book in order to avoid any future litigation. Control regarding Approval and updation of Quotation in the System: Mr. Thomas must check who is authorized to approve the quotation which has been entered in the stand alone electronic data interchange system. Further, Mr. Thomas will also check how frequently the quotation is updated in the system. Further, he should also check once the quotation has been approved by the customer how payment has been received by the company and its payment term. Mr. Thomas will also made sure that proper documentation has been maintained by the company for each and individual case. Control regarding monitoring staff hours: Mr. Thomas should check what procedure has been adopted by the company to monitor the total hours worked by the staff in an organization. Further, he should also check what type of report has been generated in the organization and what procedure has been adopted to rely on such report. Thomas should must cross check the report with the device which record the sign in and sign out time of the employee in order to cross check correct pay register has been generated. Beside this he should also check that labour hour rate provided by calculation is also correct. Control regarding Accounting Entry: Mr. Thomas should check the company internal control regarding Accounting Entry such as who authorizes the voucher, when entry has been done in the system, who is responsible for Entry e.t.c. After entraining the vouchers in the system what procedure is being adopted to ensure that the entry is correct. Control regarding Check issue: No one will be issued until and unless there balance is known. Further as and when an entry has been done in the system and it has been confirmed that the balance is being due to the suppliers then only payment should b ad to the suppliers. Control regarding backup of Accounting software: Once the Entry has been completed daily backup of the Accounting Software must be taken in order to avoid any unwanted circumstances of loss of data. Mr. Thomas should check the company policy of back up of data i.e. the person responsible for data back up, type of back up and the frequency of back up taken by the representative. Answer to Question No :2 Substantive test of procedure or transaction helps to reduce the level of detection risk so that the audit objective can be fulfilled. (James, 2011) . This test helps the auditor to detect the material misstatement in the financial statement. Substantive procedure include test of details of transaction details and analytical procedure of disclosures and account balance. (Not for Profit Orgnisation, 2009). As per ASA 501 on Existence and valuation of Inventory the auditor shall obtain appropriate audit evidence regarding the existence and valuation of inventory material in the financial statement. (Board A. a., April 2006). The auditor should must use the following assertion: Presentation and disclosures Records completeness, accuracy, cut-off Obligation Valuation and allocation Existence The following Steps to be followed by Mr. Thomas for conducting WIP Audit First of all Mr. Thomas needs to check the opening balance of the WIP as recorded and reconcile/ cross check the same with the closing of financial statement of the last year. Then Mr. Thomas will check the Cost sheet statement as prepared by the clerk and cross check each and every figure of the spread sheet as provided by the accounts clerk with the data available in the accounts. Before Finalizing the value Mr. Thomas must agree with the accounting records of the MTI to ensure the completeness / correctness of the data. Thomas then checks that proper Job no. has been allocated to each jobs by reviewing the working paper and other document maintained by the client. Thomas will also ensure that the quantity entered must tally with the customer order for each job other and should review each and every job card. All the raw material and quantity used in the completion of the jobs has been properly recorded and if any quantity has been cut from the normal practice of the production procedure, then the same must be noted and authorized. Further, Thomas. Should also check what procedure is following by the company to record such situation and how quality assurance team should be aware of such practice. Thomas should then check the company procedure for valuation of the WIP, that is to say which method is followed by the company to value the company WIP and the method adopted should not differ from its accounting policy. Thomas while valuing the work in Progress MTI has taken correct rate for its material and labour. Mr. Thomas should ensure that the valuation is done as per the company changed costing and allocation method of absorption costing. Mr. Thomas should ensure that all the overhead cost has been absorbed by using absorbtion costing method rather than any other method. Thomas should understand the company procedure to record the actual hours worked by the workers on particular jobs and how these hours are being recorded and who authorize the total hours worked by the worker in particular jobs. Then the hours worked by the worker need to cross tallied from the cost sheet and the pay register along with the rate of payment. Further Mr. Thomas should also ensure that proper accounting entry has been done in the accounts department regarding booking of the wages expenses. Thomas Should ensure that each job order should sale at a price which ahs been approved as per the quotation. Further, Mr. Thomas should also ensure that the payment from the buyer has also been received as per the agreed time limit without any delay. And in case of any major delay penal interest will be charged by the company as per the company policy. Currently MTI has the policy not to take advance from the customer. However, if the customer is new and the jobs require substantive material to be purchased, then advance may be taken from the customer and the company used to make progress billing, This progress billing is then deducted from the closing WIP. Mr. Thomas should check that in case of progress billing the amount has been actually received and the same should be shown as advance in the accounts department. Thomas should also check the company policy regarding how the completion of the work has been decided and who decided the percentage of the work completion. Further, Mr. Thomas should also check the calculation done by Isabella as per the given formula to ensure that the correct calculation has been done and the closing figure of work in progress inventory has been arrived correctly. Bibliography: Board, A. a. (2011). Auditing Standard ASA 300. Planning an Audit of Financial Statement , 35. Board, A. a. (2013). Auditing Standard ASA 315. Idntifying and Assessing the risk of Material Misstatement , 48. Board, A. a. (April 2006). Auditing Standard ASA 501. Existenance and valuation of Invntory , 13. Board, A. a. (2011). Guidance Statement 007. Audit Implication of the use of Service organoztion , 45. James. (2011). Test of Control and Test of Details. 12. Not for Profit Orgnisation. (2009). SA , 10.