Lewis Mumfords Technics and Civilization free essay sample

In the segment The Monastery and the Clock, in Lewis Mumford’s Technics and Civilization, the clock is viewed as the key-machine of the advanced mechanical age. How such a machine figured out how to change the manner in which we experience our reality is exceptional. First utilized in seventh century monastery’s to maintain a standard of control over the priests and to guarantee that occasions occur routinely. Presently the clock is an essential piece of human advancement. Since its creation it has arranged humankind to be good with future machines. Be that as it may, what is a clock and what does it do? A clock is something that estimates time and time in my definition is the span of a day and the occasions inside the day. Time is something we people made, an ancient rarity, to gauge and monitor the occasions in our day. With it we hold more an incentive in our day and the time we have. We will compose a custom exposition test on Lewis Mumfords Technics and Civilization or then again any comparable subject explicitly for you Don't WasteYour Time Recruit WRITER Just 13.90/page The clock, over hundreds of years, for sure has changed the manner in which we see our days, our lives. The rise of Western Civilization has been set apart by the tickers capacities. It was the displayed machine that set the establishment for future machines. Machines these days require visit upkeep and the capacity to run nearby different machines. This is made conceivable by the clock, which permitted individuals to cooperate with the machines routinely and at fitting occasions. Mumford states that the clock â€Å"marks a flawlessness toward which different machines yearn. Without it the innovation we need to today may have never been near. The clock has such huge worth since it has impacted numerous parts of mankind’s life. Without it, the things we esteem, for instance, the time we get the chance to go through with our family, would be distinctive in light of the fact that we would have no clue about to what extent or short that period was so we may not esteem it so much. Time is something I accept we esteem like never before on the grounds that our time is restricted in a day and from a more extensive perspective our life expectancy. There’s such a great amount to do and for some there might be very little time left. Additionally, a few people who hold cash and riches as something important will see time as something similarly as significant. As the familiar adage goes, â€Å"time is money†. The social impacts of the check are likewise present in our lives. The clock and time has become such normality that to us it is â€Å"second nature†. All that we do, particularly in American culture, has to do with the clock or time. The measure of time we rest to when our morning timer awakens us to the measure of time we work. Our age has moved to one that depends vigorously on the clock. In a manner the clock has made us to some degree mechanical in that we ascend toward the beginning of the day, have breakfast, lunch and supper simultaneously regular. We follow the hours, minutes, and seconds of the clock with such commonality, yet we have our own regular organic clock that occasionally is by all accounts overlooked. For example, when I’m up doing schoolwork around evening time, my organic clock will disclose to me its chance to rest however when I take a gander at the computerized clock I see that its still from the get-go in time and reveal to myself that its not sleep time yet. At last, the clock has help incorporate our general public with what it is today. This ever-present machine today has molded the qualities and activities of humanity. Without it our human advancement presently would not have the option to capacity and it would be the â€Å"collapse of our whole society†. To value the clock, one would simply need to suppose it were no more.

Performance Pay at Safelite Auto Glass Case Study

Execution Pay at Safelite Auto Glass - Case Study Example Execution Management is without a doubt one of the most significant territories in dealing with the tasks of a business undertaking. Obviously the current administration of Safelite Auto Glass, especially the CEO John Barlow and COO Staglin need the firm to be productive and venture into new markets. Since the time the difference in the executives in 1987, there have been endeavors towards growing Safelite’s reach and markets. For this reason, Barlow hit upon permitting the arrangement of establishment tasks the whole way across the USA, a move which expanded the quantity of Safelite outlets from 250 to 550 inside two years from 1987 to1989 (Hall et al., p 1) . The issue here was that hides away opened up rather randomly and clients had issues finding the stores. To manage this issue, the CEO at that point hit upon utilizing portable trucks to give fix and establishment administrations to the clients at their own area. There was no compelling reason to carry the vehicle to the fix outlet. Be that as it may, here again the issues confronted were organizing the requirements of the clients and arriving at the areas accurately. To unravel these issues, it was chosen to open up distribution center style areas complete with experts and fitters who could administration, fix and fit out a vehicle windshield all from this focal area. The interchanges organize introduced here was utilized to course calls to the experts so administration and fix work could be completed with at least time wastage. A restricting variable here was that such a large number of calls came into the more focal and well known areas while others remained inactive, yet this also was being tended to by sending calls to areas that were not all that occupied. It is very obvious that these extension endeavors accompanied an expense. To utilize inert limit with respect to those stockroom areas that were not very occupied, the administrators of those areas had themselves been given a show pay plan that necessary them to do some genuine fitting, fixing and overhauling when the spot was not very occupied. Possibly a portion of the directors may have disdained this twofold job. However the truth of the matter is that they needed to improve the profitability of the distribution center before they could be considered for a rating redesign. While obviously the current execution pay plan isn't working, some portion of the explanation is management’s absence of vital long haul thinking. This is apparent from the way that issues creep up and are comprehended on the run. At the outset the establishment framework made an overabundance of stores in certain areas and shortage in others; it likewise made inner rivalry which was counterproductive. The utilization of trucks as portable fix shops was creative yet incorporated a cost that ought to have been considered before propelling this activity. Safelite’s own lacks in the present execution pay plan cause it to appear that t he laborers are being oppressed after the underlying assurance time of 12 weeks have passed. At the underlying stage, the laborer is being ensured a 12-week fundamental pay rate contingent upon his past profitability. However, following 12 weeks have passed, the laborer needs to substantiate himself again by meeting the distinction and furthermore put forth attempts to build his profitability. This may not generally be conceivable because of regular varieties, power of rivalry and administrator predisposition in a specific stockroom. As showed, the laborers would relax in the initial 12 weeks of the arrangement except if pushed by upright directors. They would want to play pinochle (Hall et al., p 5) while keeping up at least profitability. Also, in spite of the best correspondence frameworks there is an absence of appropriate coordination between the request takers on telephone and the professionals and the drivers. This point should be tended to in light of the fact that it is hav ing an

Auditors Report - Free Essay Example

Auditors report Contents Introduction: Responsibilities of audit committee: Audit report: Internal Vs External audit: Relationship: Reporting: Scope of performance: Objective: Audit committee: parts of an audit report: Report title: Introductory paragraph: Scope paragraph: Executive Summary: Opinion paragraph: Auditorà ¢Ã¢â€š ¬Ã¢â€ž ¢s name: Auditorà ¢Ã¢â€š ¬Ã¢â€ž ¢s signature: Audit process: Types of audit reports: Unqualified opinion: Qualified opinion: Adverse opinion: Disclaimer of opinion: Importance of audit report: Purpose of external audit: Function: Time frame: Significance: Types: Misconceptions: Role of auditorà ¢Ã¢â€š ¬Ã¢â€ž ¢s report in corporate governance: Conclusion: Introduction: Auditing is the process through which the chartered accountants, income tax lawyers, accounts all together helps in accessing the business transactions of the company and filing reports as per the government norms and conditions of that particular country. Auditing is done on a yearly basis. It includes all the requirements related to the economic health and finance of the company that has to be required to be presented before the government agencies for legal and taxing purposes. The effectiveness of auditing can be seen by observing the effectiveness of the audit committee itself which does the external and internal audit of the company. Thus its composition and independence of the members of auditing confirms the free and fair auditing followed in the company. the presence and absence of the audit committee helps in figuring out the quality of the financial reporting that a company adopts. Thus presence of audit committee confirms an attempt of the company to develop a fair repo rting system, while on the other hand, the absence of audit committee clearly signifies the not so good intensions of the company. With the present laws in force the audit committee formation is compulsory in case of company crossing a certain amount of turnover, thus it becomes easier to keep a close eye on the working of the companies which earlier did not had any audit committee. Thus the audit committee members are now more answerable to the government than their corporate owners. Responsibilities of audit committee: The important duty of the audit committee members is to interact with the external auditors during auditing.Audit scope negotiation process is also done by the audit committee.When the auditors assign lower control risk to clients with high corporate governance quality, the auditors may expend less audit effort.Expertise,independence and experience are lacked by many audit committee members.Audit committee acts an effective vehicle in pursuing the interest of shareholders.Less pressure is exerted on the high quality audit members to increase the audit effort.The responsibilities of an auditing committee are: Checking the choice of accounting policies and principles. To hire an external auditor To oversee the audit process To monitor the internal control process. In many countries audit committee was introduced to alleviate the weakness of corporate governance.High profile corporate failures which involves fraud,poor accounting and internal control failure made the organizations to realize the importance of auditing committee.AC plays an important role on the quality of financial reporting.The earnings quality of a company is improved by the audit committee.Meetings,independence and background of the members are also affect the quality of the financial report.The absence of an audit committee affects the financial reportà ¢Ã¢â€š ¬Ã¢â€ž ¢s quality.Audit Committee helps an organization to develop a fair reporting system.The formation of audit committee is made compulsory in many countries.Therefore companies which do not have AC is working on the audit committee formation.It is the responsibility of the audit committee members to answer than the government rather than the corporate owners. Audit report: A busineesà ¢Ã¢â€š ¬Ã¢â€ž ¢s financial status is officially evaluated with the combination of auditorà ¢Ã¢â€š ¬Ã¢â€ž ¢s opinion and data collected on the businessà ¢Ã¢â€š ¬Ã¢â€ž ¢s financial transactions and situation is known as audit report.This is the common process used by companies to examine their own records and to release their financial information to investors and shareholders. (TylerLacoma, 2009) Internal Vs External audit: Auditing may occur either inside or outside the company.An accountant who works in the company perform internal auditing.Internal auditing is easier than external auditing because the auditors are familiar with company records and they have experience in generating such records.The investors and official agencies do not have trust in internal auditing.Some business may not have proper resources to perform internal auditing.Therefore external audit is practiced in some companies.For this purpose, companies hire a firm to perform audit for them. (TylerLacoma, 2009) Relationship: In order to assess the effectiveness of business operations internal auditors are appointed on behalf of management.Internal controls of the business is the main concern of internal auditors. An accountant who works in the company perform internal auditing.External auditors can be appointed by the shareholders of the company to perform external audit.These external auditors are independent of the company and management. (Anon., 2011) Reporting: For both internal as well as external audit a common code of conduct and ethics is applicable.However, they differ in terms of whom they report to.An internal auditorà ¢Ã¢â€š ¬Ã¢â€ž ¢s report is private and it is only for the directors and management of the business.An external auditorà ¢Ã¢â€š ¬Ã¢â€ž ¢s report is presented to the shareholders and public. (Anon., 2011) Scope of performance: External audit is performed beyond scope to avoid conflict of interests.The main aim of external audit is to check whether the financial report is free from any misstatement and whether they depict a true and fair view of the entity.Financial and non financial aspects of a firm is focused by internal audit.Fraud is detected by internal audit.Internal audit also provide advise on internal controls and performance appraisal on corporate governance.A businessà ¢Ã¢â€š ¬Ã¢â€ž ¢s risk management strategies are evaluated by internal audit. (Anon., 2011) Objective: A opinion on the financial statement of an entity is expressed by external audit.Functions of external audit are determined by the statutes.The internal audità ¢Ã¢â€š ¬Ã¢â€ž ¢s functions are determined by the board and management.The value to operations of an organization is added by internal audits.Operational audits and compliance procedures are the main focus of internal audits. (Anon., 2011) Audit committee: An Audit committee is meant to monitor the companys financial reporting process on fair grounds by making internal controls and risk management. Thus the committee is meant to bring forth the truth about the companyà ¢Ã¢â€š ¬Ã¢â€ž ¢s financial condition that its financial gains and losses, future investment and past requisitions. Thus the audit committee confirms all the facts and figures about the financial conditions of the company. This committee should consist of the non-executive directors of the board. The number of non executive directors should be at least three and in case of chairman included in the board than he should be an independent candidate. (Anon., 2011) parts of an audit report: Audit reports are used by the accountants to publish the data collcted by them during their fieldwork of a company. Seven elements are needed to complete the audit report.These seven elements are report title, introductory paragraph, scope paragraph, executive summary, opinion para graph, auditorà ¢Ã¢â€š ¬Ã¢â€ž ¢s name and auditorà ¢Ã¢â€š ¬Ã¢â€ž ¢s signature. (Andrew, 2009) Report title: The audit date and the addressee of the report are included in the title of the report.The auditorà ¢Ã¢â€š ¬Ã¢â€ž ¢s last day of fieldwork is the date and the board members and stockholders are the addressee.The word independent is also mentioned in the title to set it apart from the internal audits. (Andrew, 2009) Introductory paragraph: This is a boilerplate text which states that audit has been carried out.Financial document used to perform the auditing are identified here and it also credits the responsibility of the management for the accuracy of the financial statements.The time frame covered by the audit is determined in this section. (Andrew, 2009) Scope paragraph: This paragraph emphasize that the rules and standards set by Generally Accepted Audit Standards were followed during audit.A reasonable assurance is provided to indicate the claims made by the financial statements are accurate.The test methods carried out by the auditors to test the accounting methods followed by the company is indicated in the scope paragraph. (Andrew, 2009) Executive Summary: The findings of the auditing is summarized here.The auditor determine the content of the summary.Executive summary does not provide much opinion but it clearly expresses the findings of the audit. (Andrew, 2009) Opinion paragraph: The financial situation of the company and the methods and procedures used to reach a conclusion are included in this paragraph.Auditors opinion on the financial stability of the company is included here.Conformity or non conformity of the auditorà ¢Ã¢â€š ¬Ã¢â€ž ¢s opinion based on the Generally Accepted Accounting Principles are included in this section. (Andrew, 2009) Auditorà ¢Ã¢â€š ¬Ã¢â€ž ¢s name: At end of the audit report it is the responsibility of the auditor to print his name.The auditor must also included the name of the firm or the certified accountant he is working for. Auditorà ¢Ã¢â€š ¬Ã¢â€ž ¢s signature: The auditor is accountable for the audit results up to the date stated in the audit reportà ¢Ã¢â€š ¬Ã¢â€ž ¢s title.The signature of the auditor below his name is the acknowledgement for this accountability. (Andrew, 2009) Audit process: The following steps are included in the audit process. The audit objectives,timing and format of the report and distribution are discussed by scheduling a conference. The internal controls and operations are assessed for the soundness. To ensure proper operation the internal controls are tested. All preliminary observations are discussed with the management. Before the release of the audit report, a discussion on the draft is done with the management. The critical issues raised in the audit report are followed to check whether they have been successfully resolved. (CaliforniaUniversity, 2012) Types of audit reports: Four types of audit reports are: Unqualified opinion Qualified opinion Adverse opinion Disclaimer of opinion (TylerLacoma, 2009) Unqualified opinion: It is also known as clean opinion.In an unqualified opinion an auditor determines the financial statements provided by the firm does not have any misinterpretations.This also indicates that the financial record of the firm is maintained in accordance with the standards of Generally Accepted Accounting Principles(GAAP).Unqualified opinion is considered as the best type of report. The word à ¢Ã¢â€š ¬Ã…“independentà ¢Ã¢â€š ¬Ã‚  is ddedin the title of the report to indicate that the audit is done by an unbiased third party.Main body is followed by the title.The main body includes the auditorà ¢Ã¢â€š ¬Ã¢â€ž ¢s responsibilities,audit purpose and the findings of the audit. (TylerLacoma, 2009) Qualified opinion: Qualified opinion is given when the financial record of a firm is not maintained in accordance with GAAP but there is no misinterpretation in the financial statement.The writing of qualified opinion is extremely similar to that of unqualified opinion.An additional paragraph,providing the reasons why the audit report is not unqualified is included in the qualified opinion. (TylerLacoma, 2009) Adverse opinion: Adverse opinion is the worst type of opinion given for a business.Adverse opinion indicates that the financial record is not maintained in accordance with GAAP and also indicates there are misinterpretations in the financial statements.Adverse opinion is the indication of fraud.When adverse opinion is given it is the responsibility of the firm to correct its financial statement and have it re-audited, because the investors,lenders and other requesting parties will not accept adverse opinion. (TylerLacoma, 2009) Disclaimer of opinion: When the financial record of a firm is unavailable, an auditor cannot complete the accurate audit report,in this case the auditor issues disclaimer of opinion, stating that the financial status of the firm cannot be determined. (TylerLacoma, 2009) Importance of audit report: In order to gain support from the investors, board of directors and interested public, business and non-profit organization carry out audit as a part of their annual financial reporting.Auditorà ¢Ã¢â€š ¬Ã¢â€ž ¢s report acts as a certificate that an external auditor has audited the financial statement of the organization.The auditorà ¢Ã¢â€š ¬Ã¢â€ž ¢s opinion in the report is considered as the essence of the reports.For the well being of any organization auditorà ¢Ã¢â€š ¬Ã¢â€ž ¢s report is very important.The auditorà ¢Ã¢â€š ¬Ã¢â€ž ¢s report helps to find out the financial stability of a firm. (wisegeek, 2013) The finances of a firm is ensured by the auditorà ¢Ã¢â€š ¬Ã¢â€ž ¢s report,keeping in with the legal requirement, both the accounts payable and accounts receivable are conducted.External auditors are used to conduct the audit because they are unbiased.Auditorà ¢Ã¢â€š ¬Ã¢â€ž ¢s report is a useful tool for small companies.Auditorà ¢Ã¢â€š ¬Ã¢â€ž ¢s report helps the new fir ms to make sure there is proper accounting for all assets, cash flow and liabilities incurred during the calendar period under consideration. (wisegeek, 2013) Auditorà ¢Ã¢â€š ¬Ã¢â€ž ¢s report helps the organizations to enhance their current method of bookkeeping.The auditorà ¢Ã¢â€š ¬Ã¢â€ž ¢s report may suggest to for some basic changes in the accounting process which may eliminate duplication of efforts.Other suggestions may include appropriate expense classification,processing reports on employee expenses and similar matters.Many believe auditing is conducted when there is suspicion of wrong doing.Annual auditing is carried to check whether internal audit is done properly.Auditing also point out the area which can be improved.Auditorà ¢Ã¢â€š ¬Ã¢â€ž ¢s report plays a major role in the investorà ¢Ã¢â€š ¬Ã¢â€ž ¢s decision making process.Auditorà ¢Ã¢â€š ¬Ã¢â€ž ¢s report helps a firm to gain the trust of investors, shareholders and interested public.Auditorà ¢Ã¢â€š ¬Ã¢â€ž ¢s re port also give suggestions to the firm to improve certain areas. (wisegeek, 2013) Purpose of external audit: An external audit checks the effectiveness of internal controls,process,guidelines and policies and incompliance with government requirements,industry standards and company policies.The errors in the financial statement is prevented by the external audit. (MarquisCodjia, 2012) Function: A full assurance to the investors and financial market participants are provided by the external audit.External audit indicates the accounting records of the firm, are fair and they comply with GAAP,industry standards and regulatory requirements.Full assurance indicates the confidence of the investors and the audit results are accurate.Balance sheetmprofit/loss statement,owner;s capital statement and cash flow statement are included in a financial statement. (MarquisCodjia, 2012) Time frame: Throughout the year, an external audit process is carried out.When the company closes its accounting records and prepares financial statement, an external auditor start testing the financial statement of the company.An external auditor along with the internal auditor review areas with problem.In accordance with such review the external auditor carry out the auditing process.The external auditors discuss audit planning,resource allocation and testing schedules with the head of the department of areas under review. (MarquisCodjia, 2012) Significance: Audit report is useful for three groups.They are management,regulators and investors.Operating breakdowns and segments showing risks are learnt by the top management and audit committee.Business trends and corporate practices are detected by the investors.The companyà ¢Ã¢â€š ¬Ã¢â€ž ¢s economy standing is gauged by the investors with the help of the audit report. Companys economy standing and managements short term and long term initiatives are gauged by the investors with the help of audit report. (MarquisCodjia, 2012) Types: Auditing a financial statement is the primary audit requirement from a company.A financial statement audit is done to ensure the correctness of financial statement.Errors and breakdowns in internal control and procedures are detected by operational audit.How employees abide by regulations in performing tasks are evaluated by senior management with the help of compliance audit.The control around software and technology infrastructure are ensured by information systems audit. (MarquisCodjia, 2012) Misconceptions: Financial audit is performed by a certified public accountant.For performing other audits there s no need of certification for external auditors. (MarquisCodjia, 2012) Role of auditorà ¢Ã¢â€š ¬Ã¢â€ž ¢s report in corporate governance: Corporate governance consists of board of directors,audit committee and other supervisory committees.An auditor does not have any direct corporate governance responsibility. The auditors report provides a check on the information aspects of the governance system. The auditors report helps the corporate governance to increase the soundness of the operations and internal control. The reports also helps the audit committee to use an effective method in preparing the financial report of the firm. Audit report helps the management to identify the operation breakdowns and segments with high risks. Regulators can identify the business trends and corporate practices. Audit report helps the corporate governance in decision making process,accountability and monitoring. Audit report provides confidence.Uncertainty and risks are reduced by audit reports. The information required by the corporate governance for decision making is provided by audit report.Audit report focus on internal controls. The audit report assists the corporate governance in achieving the goal. (wisegeek, 2013) Conclusion: Auditing is the process of checking the financial report. For every firm it is necessary to conduct auditing. Auditing carried out by the external auditor is effective compared to that of internal auditor. Auditing is done to check the financial record of a firm.investors and shareholders always wants an unbiased external auditor to cheche k the financial statements.exernal auditing gains the trust of investors and shareholders. Financial stability of of an organization can be identified with the help of the audit report.audit report also helps to take investment decision.audit report also identifies the misinterpretation in the financial statements. Bibliography Andrew, 2009. ehow. [Online] Available at: https://www.ehow.com/info_8784373_7-parts-audit-report.html [Accessed 20 December 2014]. Anon., 2011. DianaWicks. [Online] Available at: https://www.ehow.com/info_8478956_difference-between-internal-external-auditing.html [Accessed 20 December 2014]. CaliforniaUniversity, 2012. Internal auditing. [Online] Available at: https://daf.csulb.edu/offices/univ_svcs/internalauditing/audits.html [Accessed 20 December 2014]. MarquisCodjia, 2012. ehow. [Online] Available at: https://www.ehow.com/about_6614835_purpose-external-audit.html [Accessed 20 December 2014]. TylerLacoma, 2009. ehow. [Online] Available at: https://daf.csulb.edu/offices/univ_svcs/internalauditing/audits.html [Accessed 20 December 2014]. wisegeek, 2013. wisegeek. [Online] Available at: https://www.wisegeek.com/what-is-an-auditors-report.htm [Accessed 20 December 2014]. 1 | Page

Pictures of Ronald Reagan - Photos According to Eras

A Comparison of Whitman’s Song of Myself with Ginsberg’s Howl

American poetry, unlike other nations’ poetry, is still in the nascent stage because of the absence of a history in comparison to other nations’ poetry humming with matured voices. Nevertheless, in the past century, American poetry has received the recognition it deserves from the creative poetic compositions of Walt Whitman, who has been called â€Å"the father of American poetry.† His dynamic style and uncommon content is well exhibited in his famous poem â€Å"Song of Myself,† giving a direction to the American writers of posterity. In addition, his distinct use of the line and breath has had a huge impression on the compositions of a number of poets, especially on the works of the present-day poet Allen Ginsberg, whose debatable poem â€Å"Howl†Ã¢â‚¬ ¦show more content†¦Such formations of the words by both the poets add to the feeling of flexibility and freedom from the limitations of time and space in their poems. This is the leading trai t and similarity of the respective ‘catalogues’ of both â€Å"Song of Myself† and â€Å"Howl† (Moritz 6). The element of similarity is evident not only in the form but content and style as well (Monforton par. 2). Whitman’s speaker speaks in the voice of first person. Comparing Ginsberg with Whitman, he is possessed by Whitman who uses the personal pronoun ‘I’ more often, culminating in the hug between the body and soul, town and country, sexuality and spirituality, and science and mysticism – all-pervasive but Whitman’s ‘I’ is not completely identified in the absence of ‘you,’ who is not real; it is the imaginative audience of Whitman, which differentiates the poetry of Whitman, as he says, â€Å"You shall not look through my eyes either, nor take things from me,’ you shall listen to all sides and filter them from yourself,† (Whitman 26). The self of Whitman is all-encompassing; it absorbs all activities rural or urban. There is a unity in all diverse ‘items’ of the self and in the self. Ginsberg uses the same device in â€Å"Howl† to pay his

Auditing Opinions and Assurance

Questions: Indicate the type of opinion that should be expressed in each of the following situations,providing reasons for your choice-1.The auditor was unable to obtain confirmations from three of the clients major customers that were included in the sample .The auditor was able to satisfy himself about the balances of these accounts using other audit procedures? 2.The client restricted the auditor from observing the property ,plant and equipment .The property, plant and equipment is a material part of the assets making up 20% of total assets?3.Management have excluded from the financial report the necessary disclosures in relation to a contingent liability .If this becomes an actual liability it will have a material effect on the financial report?4.A significant proportion of a retailers sales are on a cash basis and inadequate records have been maintained. There are no audit tests that can be done to assure yourself that cash sales are accurate? 5.You have been asked to do the audit for a new client this financial year .While you are satisfied that there appears to be no material misstatements for the information during the current financial year the client will not provide any information about the opening balances of accounts at the start of the financial year?6.You have just started auditing the financial statements of a client which has not been following the Australian Accounting Standards since it began operating five years ago?7.A client has been using the LIFO method of accounting for inventory which is disallowed under the Australian Accounting Standards.This has had a material effect on the financial statements however its effect is currently limited to the effect on the Inventory value?8.The auditor of Numark has just completed the audit and is satisfied that there are no material misstatements however the clients continuation as a going concern is in extreme doubt as its major customer has gone into liquidation and it appears very unlikely that other customers will take its place due to the highly specialised nature of its products? Answers: Introduction Auditing is the process of checking and verifying books of accounts of the business organisation. Audit is conducted by qualified auditors only and after checking and verifying financial statements, auditors are required to express its opinion. Audit opinion is the verdict of auditors on the financial statements and state of business operations of business organisation. There are four types of audit opinions i.e. qualified opinion, unqualified opinion, adverse opinion and disclaimer (Types of audit opinions, 2011). Following are different independent case of audit opinion: 1. In this case, auditor is not able to obtain confirmation from some customers regarding account balance but on the other hand, auditor has performed another procedure to satisfy himself about correctness of account balances. In this case, since auditor is satisfied therefore auditor can express unqualified opinion (Cipriano et al., 2016). As all reservations related to balances is cleared from other audit procedures therefore unqualified audit opinion will be expressed by auditors. Under unqualified audit opinion, financial statements and books of accounts are clear from any defect. 2. In the given case, auditor is restricted by the management or client in performing its duties or undertaking audit process. Since property, plant and equipments are integral part of any financial statements therefore it shall be examined in detailed manner. In this case, auditor shall express disclaimer of opinion. Disclaimer of opinion is the type of auditor opinion under which auditor is not able to audit financial statements of business entity. Since in this case, auditor is restrained from observing or auditing the property, plant and equipments of the business entity. Therefore auditor is not able to comment on amount of property, plant and equipments and should issue disclaimer of opinion (Davis, 2004). 3. In this case, since management or account of the business organisation is not able to disclose contingent liabilities which can become actual liabilities in future. In this case, auditor shall express qualified opinion. Unqualified opinion is the audit opinion under which, financial statements or financial records of the business organisation is not maintained according to accounting standards. Accounting standards are those standards which accountant of business organisation has to follow while preparing and presenting financial statements. Under qualified audit opinion, there is no misrepresentation in financial statements of books of accounts are identified by auditor (Li et al., 2012). But there are issue or issues in presentation of financial statements or preparation of books of accounts. 4. In this case, since business organisation is not able to perform audit test to satisfy him to her (auditor) regarding correctness and accurateness of cash sales during the year. Since cash sales to the retailer is the significant portion of the cash sales. In this case, auditor shall express disclaimer opinion on the preparation and presentation of financial statements. In this case, disclaimer audit opinion will be given by auditor because; in this case there is no misrepresentation in the financial statements (Gaganis et al., 2013). But sales figures are not able to be checked or verified by the auditor since there are no adequate supporting records. In this case, additional paragraph is required in audit report that will highlight the reason of disclaimer opinion of auditor. 5. In this case, since new business organisation is required to be audited by the auditor. Therefore there shall be initial engagement between auditor and client (business organisation). In initial engagement, auditors are required to check and verify correctness of opening balances of the current period. Then only audit procedure shall be initiated. In this case, management are not able to provide any evidence and auditor is not able to examine the correctness of opening balance. Therefore auditor shall express disclaimer audit opinion related to opening balances of the financial statements of client. In this case, there is no possible way to examine opening balance therefore auditor shall not comment on the same. 6. In this case, client has not been following Australian Accounting Standards from the beginning of its business operations. Since in this case business organization has not followed Australian Accounting Standards therefore auditor shall issue adverse audit opinion or disclaimer opinion if auditor is not able to verify financial statements. Under adverse auditor opinion, auditors feel that business organization is not able to follow accounting standards while preparing financial statements. In addition to that adverse auditor opinion is expressed when financial statements reflect misrepresentation (Lopez et al., 2009). Therefore in this case, business organization or client has not followed Australian accounting standards therefore in this case auditor shall express adverse audit opinion. 7. In this case, since business organisation or client has been following Last in Last out inventory management method which is disallowed under Australian accounting standard. In this case, business organisation or client has violated Australian accounting standards and this has brought in the notice of auditor. In this case, auditor shall express adverse audit opinion. Under adverse audit opinion, business organisation has not followed Australian accounting standards and is misrepresented to stakeholders. Same is the case with the current client or business organisation, then had not followed Australian accounting standard under accounting for inventory. Only FIFO and weighted average method of accounting is allowed (Sarath, 2016). Therefore adverse audit opinion shall be expressed by auditor. 8. In this case, since financial statements reflects no adverse situation and there is no material misstatement in the financial statements of the business organisation i.e. Numark. In other words, financial statements of Numark deserve unqualified audit report. But on the other hand, auditor came across situation under which major customer of Numark had gone into liquidation and this will impact business operations or business situation of Numark. Therefore auditor need to reconsider the case, since this liquidation of clients major customer will impact going concern therefore auditor cannot issue unqualified audit report to business organisation or client. In this case, auditor shall issue disclaimer audit report (Mao et al., 2015). Since auditor is not able to analyse how and up to what extend liquidation of major customer of Numark will impact its business in real terms. Therefore auditor shall issue disclaimer audit opinion. References Cipriano, M., Hamilton, E.L. Vandervelde, S.D. 2016, "Has the lack of use of the qualified audit opinion turned it into the Rotten Kid threat?", Critical Perspectives on Accounting, . Davis, R.R. 2004, "Using Disclaimers in Audit Reports",The CPA Journal,vol. 74, no. 4, pp. 26. Gaganis, C., Pasiouras, F. Spathis, C. 2013, "Regulations and Audit Opinions: Evidence from EU Banking Institutions", Computational Economics, vol. 41, no. 3, pp. 387-405. Li, L., Tian, G. Qi, B. 2012, "Auditors' unqualified opinions on internal controls and accrual quality", Nankai Business Review International, vol. 3, no. 4, pp. 332-353. Lopez, T.J., Vandervelde, S.D. Wu, Y. 2009, "Investor perceptions of an auditor's adverse internal control opinion",Journal of Accounting and Public Policy,vol. 28, no. 3, pp. 231-250. Mao, M.Q. Yu, Y. 2015, "Analysts' Cash Flow Forecasts, Audit Effort, and Audit Opinions on Internal Control",Journal of Business Finance Accounting,vol. 42, no. 5-6, pp. 635-664. Sarath, B. 2016, "Audit quality within adverse selection markets",Asian Review of Accounting,vol. 24, no. 1, pp. 2-18. Types of audit opinions 2011, , Singapore Press Holdings Limited, Singapore.

Managing Organizational Culture

Introduction In managing an entity, the organisational culture plays a vital role to its success. In reality, the organisation is an amalgamation of different people with varied cultures, which interact to produce a particular and distinct culture(s) that the company has to uphold. Organisations could have one or more cultures as long as those practices could lead to its success.Advertising We will write a custom essay sample on Managing Organizational Culture specifically for you for only $16.05 $11/page Learn More Essentially, the management has the mandate to make sure that the culture(s) that the entity adopts, are non-controversial or do not impede the articulation of the organisational goals. In this paper, the focus is on two important aspects of organisational management. First, it discusses the degree to which the organisational culture could be managed. Secondly, it seeks to establish whether the organisational culture is critical to its succes s. Meaning of Organisational Culture According to E. Ogbonna and L. Harris, organisational culture is a set of behavior and practices that the company adopt in the productions system in order to achieve success while accomplishing the objectives of the organisation (Ogbonna Harris, 1998). Effectiveness of Organisational Culture In companies, the organisational culture only becomes effective if its leads to profit maximisation in the entity. A sustainable organisation would have effective policies to ensure that the organisational culture(s) are not used in the interest of the individuals, but would be used wisely for the benefit of all. In addition, authentic sustainability could be attained if the company management is willing to explore the emerging new cultural practices, which offer more positive impacts to the organisation (Ogbonna Harris, 1998). Adherence to such cultural practices would be the best mechanism to evaluate the effectiveness of the organisation culture. For the organisation to achieve the desired state of the art cultural environment, it would have to ensure that it minimizes the manner in which the entity segregates its employees. Notably, this management practice would result in unity of the organisation where all stakeholders accept and abide by the cultural practice in the company. Many administrators in the organizations have resorted to using certain cultural connotations that can be eliminated in order to realize the dream of sustainability, a situation showing the effectiveness of the organisational culture (Ogbonna Harris, 1998). Environmental friendly cultures would also lead to interaction of the diversities to develop a way of practice that might lead the organisation to prosperity.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More An entity should therefore ensure that the cultural attributes, which are likely to ground the company op erations are not allowed. In this case, the organization would also advocate for cultures that are less harmful to the company operations (Werbach, 2009). Organizations that accept and embrace particular culture(s) are easily manageable and could lead it to triumph. For instance, the practices that could create conflict among the employees must be discouraged in totality (Werbach, 2009). Ethical Culture The ethical behavior that that organization applies in order to make sure that it maintains proper relations with its clients, among the employees and with the organization at large would be referred to as organization ethical culture. Thus, the organization employees and other stakeholders ought to behave in a way that is in line with both the law of the country and the business ethical codes. In every business, ethics policy touching on culture should be implemented to guarantee the presence of togetherness between consumers and other workers in the organizations. For sustainabilit y reasons, the organization must ensure that it builds and maintains its cultural status and trust for the company. Therefore, even though the culture of the organization would have an impact on noteworthy, it should ensure sustainability is tied to organisation strategy. Some of the ethical cultures in the organisation include honesty, communication, commitment, discipline, and non-discrimination among others. Managing Organisational Culture The greatest concern of any organisation manager would be to address effectively the cultural issues that could make the organisation unsustainable. Managers and leaders in the organisation would only be confident when there are prospects indicating that the organisation would be sustainable (Ackroyd Crowdy, 1990). However, the cultural environment in which the organisation operates would be very dynamic. Organisation environment has numerous forces, institutions and factors that for instance would be beyond the organisation control and would affect the functioning of the entire organisation. Before the 21st century, organisation managers would only consider profit motive as the greatest function of sustainability, than addressing the cultural issues, which also have adverse effects in its management (Ackroyd Crowdy, 1990. In managing the cultural problems, the leadership in organisation should work very hard to ensure that the cultural diversity is adequately addressed.Advertising We will write a custom essay sample on Managing Organizational Culture specifically for you for only $16.05 $11/page Learn More This approach would make sure that the problems related to cultural confrontations are minimised and subsequently eliminated in the entity. The leaders also believe that if an entity fail to resolve cultural conflict over years, it would be unsustainable due to anticipated wrangles over ethnic affiliations. In this regard, for the organisation to sustain itself the management would ensur e there are strategies to regulate organisation behaviour and subsequent culture (Ackroyd Crowdy, 1990). Sustainability would be equated to profitability, meaning that the culture of the organisation must be inclined to this trend. The ideology has since changed due to the complexities in the organisation culture and environment. Current managers deal with a myriad of cultural issues in order to ensure sustainability and human relationship to the natural world would overtake profit motive in priority. In today’s organisational environment, managers are much more concerned with the cultural problems and influence on the company, thereby contribute on ways of minimising them. Therefore, the managers had realized that the underlying reason for sustainability would be drawn from the analysis of organization’s effect on, and reaction to culture. In the company, there are cultures associated with the relationship among the different stakeholders so that the organisation cou ld sustain the production with minimal conflicts (Ogbonna Harris, 1998). Previously, the managers would externalize the cultural interplay in the organisation, and failed to note that the employees in the company are the major agents of cultural dynamics. This means it is the managers should adopt policies, which can bring together and harmonise the cultural differences among the players in the organisation without prejudice. Research shows that externalization of these cultural contributions to the organisation, without solving the internal problems related to the employee’s cultural practices would only increase the negative effects of organisational culture on the workers’ performance (Ogbonna Harris, 1998).Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Externalization of the organisational cultural influences would also threaten the manner in which the entity would operate as well as weakening the social support systems. Notably, the current cultural amalgamation in the organisation is responsible for harmonising the ethnic orientations, thus creating a cultural friendly environment that would expose certain workplace cultures. The managers should evaluate the impacts of cultures on the workers performance and adopt ways, which are not detrimental to the entity. In this case, the cultural factors that threaten the production process could be dealt with without externalising them. In an organisation setup, the concept of externalizing the cultural problems shows the inefficiency and limit entail the achievement of growth and success. The organisation would be sustainable only if it would ensure that the systems, and policies employed, would not be controversial to the articulation of company policies. A sustainable organisation is the one that accepts and harmonizes the cultural diversities, which are found in the company in line with the organisational dominant culture (Ogbonna Harris, 1998). This means the management should be in a position of add value to the employees other than segregating them on cultures. There are organisation cultures, which would be encouraged if they help in educating workers, to achieve prosperity and give yield, and for road maintenance. All these would result from positive cultural attributes for within the environment. In addition, these cultures that the company embraces must be documented in the company journals and scholarly article to aid studies about the company (Ogbonna Harris, 1998). The entity would not pay anything towards the correction of cultural factors that emanates from its operations and employee interaction. The cultures that would be evidenced in the organisation could eliminate the impacts of negative practices in firms, and such should be documented and p resented in the financial accounts of the entity (Meek, 1988). For example, when inter-ethnic cultures clash in the company, then the people ways of life might be prioritized than the company goals, thus reducing productivity in the organisation. Here, the management should take this cultural conflict as an organisation failure and this would gauge an entity’s level of sustainability (Ogbonna Harris, 1998). The consequences of these actions would negatively affect the organisation and general public. The persons outside the entity would not be affected by the organisational culture since he/she does not interact with the management and other workers in the company (Willmott, 1993). The cultural conflict in the organisation would make the innocent persons pay the price of such problems that they did not incur, and referred to as externalization of cultures. The condition would arise when the unrestrained company operations yield undesirable social results (Ogbonna, 1992). Mor eover, consequences like other problems brought about by cultural differences in the work environment, the dangerous practices, for instance, incurs externalization of cultures (Ackroyd Crowdy, 1990) Essence of organisational culture The organisational culture is essential because it helps the company become more sustainable. Progressive organisational culture encourages investors and promotes its development (Werbach, 2009). According to Smircich, the society and organisational cultural environments have become too oriented to making of profits than the environmental safety (Smircich, 1983). In this regard, it is necessary to adhere to organisational practices that would make the company produce items, which are less hazardous to the environment. Since the steady application of the company culture might increase its production qualitatively and quantitatively, the management should resist and eliminate any cropping bad culture in the company (Meek, 1988). Ogbonna suggested that th e organisational culture either makes it productive or less productive depending on its management (Ogbonna, 1992). In this case, positive cultures improves the organisation’s credentials and popularity. This is essential because increasing cultural management practices would help the organisation reduce tension, making it viable and successful (Ogbonna, 1992). Basically, ensuring that the employees embrace organisational culture is vital in ensuring that it progresses and becomes sustainable. The employees are the links between the company and its clients, meaning that the culture that they practice would affect the organisation (Willmott, 1993). The organisation culture is vital as it helps in providing positive feedback and might enable the workers advise the company’s management about the likelihood of a given culture, either being suitable or unsuitable for the organisation (Meek, 1988). Through appropriate organisational culture, the employees would always seek w ays in which they can use to improve their efforts towards ensuring a balance between the individual and the company culture (Barney, 1986. In that aspect, they would achieve significant improvement by ensuring the resources at their disposal are used prudently (Meek, 1988). Therefore, the organisation should only adopt cultures and production practices, which are appropriate and sustainable. Finally, organizational culture is also essential because it makes the employees use the resources of the company for its benefits and not that of the person (Barney, 1986). Conclusion In summary, cultural values, activities, and conduct of people are based on the moral principles of the organisation and ensures that it achieves the objectives. The organisation’s main concern is the cultural behavior of humans in determining the aspect that is right and wrong bearing in mind the accepted conduct and behavior of societies. Lastly, for the organisation to maintain profit advances, producti vity, progress to expansion, and thus sustainability of the organization, it should ensure it reduces its cultural interferences, as much as it maintains profits and productivity. In the end, they must produce quality products and build a reputable organization that people would want to work with and work for. The ethical culture of an organisation should be spelt in the company policy and all the workers should adhere to such guidelines while performing their duties. References Ackroyd, S. Crowdy, P. (1990). â€Å"Can culture be managed? Working with â€Å"raw† material: The case of the English slaughtermen.† Personnel Review, 19(5), 3- 13. Barney, J. (1986). â€Å"Organizational Culture: Can it be a source of sustained competitive advantage?† Academy of Management Review, 11(3), 656-665. Meek, V. (1988). â€Å"Organizational Culture: Origins and Weaknesses.† Organization Studies 9(4), 453-473. Ogbonna, E. (1992). â€Å"Managing Organizational Culture: Fantasy or Reality?† Human Resource Management Journal 3(2), 42-54. Ogbonna, E. Harris, L. (1998). â€Å"Managing Organizational Culture: Compliance or Genuine Change?’† British Journal of Management 9(4), 273-288. Smircich, L. (1983). â€Å"Concepts of Culture and Organizational Analysis.† Administrative Science Quarterly, 28(3), 339-358. Werbach, A. (2009). Strategy for Sustainability: An Organisation Manifesto. Harvard: Harvard Organisation Press. Willmott, H. (1993). â€Å"Strength is ignorance; Slavery is freedom: Managing culture in modern organizations.† Journal of Management Studies, 30(4), 515-552. This essay on Managing Organizational Culture was written and submitted by user Lorelai A. to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.