Case Studies - Tests of controls and tests of balances in audit Essay

Case Studies - Tests of controls and tests of balances in audit program format - Essay Example g the test of controls for cash in the case of The Ourtown Independent School District should have the following questions answered by yes, no, or not applicable. If the answer is no, the next for any of the following questions pertaining to cash receipts for agency should lead us to conduct more extensive test on balances since such negative answer or answers will denote a weakness of the internal control that would affect the materiality of misstatement in the accounts pertaining to the company under audit. The Ourtown Independent School District’s cash disbursements, answers to the following questions s will assist in assuring that all payments are properly approved, recorded, and supported by appropriate documentation as way of testing the presence of appropriate controls. Since internal control includes all the policies and procedures to safeguard the school district’ assets, an analysis of the journal entries should also be evaluated. Accounting realities may provide the special opportunity to make adjustments to accounting records. Although the general journal is used as basis to record non cash items, it is also as important as the other books of original entry namely the cash receipts and cash disbursements journals. Entries made could used to hide the fraud committed on case; hence the answers to the following questions are desirable for the test of controls for cash: Part of good internal control for cash is the existence of trust fund system which requires the practice of establishment and maintenance of petty cash. To ensure the same, the following questions could be used to evaluate whether controls are meant to provide for a timely recording of expenditures of cash in the accounting system: A good internal control for cash requires periodic bank account reconciliation, which is a primary tool for assuring the proper recording and accounting for all cash account activity. To attain the accomplishment of the same the following questions need

See below Research Paper Example | Topics and Well Written Essays - 3500 words

See below - Research Paper Example This piece of research paper addresses human resource development in relation to the human resource perspectives and theories and analyzes how this is different in two major companies with different environment and core technologies. This paper identifies Hewlett Packard and Nestle as the two major companies with quite different environments and attempts to find how these two companies modeled and structured its human resource development practices and strategies. Human Resource Development According to Blanchard and Thacker (2007, p. 29), Human Resource Development plays vital role in improving the effectiveness of an organization by providing employees with knowledge, skills and abilities (KSA) that in turn can enhance their current as well as future job performance. Human resource development is thus a broad term that includes training, development and coaching to the employees of an organization in order them to learn, grow and adjust with various workplace related issues. As men tioned earlier, due to a number of ever-changing business contexts like technology, workplace changes etc, workers are to cope with all such changes and related issues. This is one of the main reasons why people in an organization need training and development. Training, development and any other program that is essentially a part of Human Resource Development help people in the organization become high performing workers, highly productive and thus to help the organization become highly profitable as well as highly competitive in the market as well. Blanchard and Thacker (2007, p. 29) explained what happen if knowledge, skills and abilities are not considered as important and employees are trained or developed to improve these areas. If new KSAs are not seen relevant, they won’t get converted to employees’ jobs and this will cause nothing more than wastage of the available resources. Effective training and developmental programs can meet needs of both employees and or ganization. Werner and DeSimone (2008, p. 4) defined Human Resource Development as â€Å"a set of systematic and planned activities designed by an organization to provide its members with the opportunities to learn necessary skills to meet current and future job demands†. Gaining new knowledge, learning new methods of performing the jobs, understanding easier ways to do the current or future jobs, developing these knowledge and skills to perform them are at the core of human resource development. Workplace learning and performance has recently become an extremely important human resource concern. As human resource management focuses on workplace learning and its integral part, namely knowledge management, the Human Resource Development program aims to develop the knowledge, skills, expertise, abilities, productivity and satisfaction of the people in the organization. Human Resource Development has recently evolved to be a management strategy that, with the title HRM, makes in dividuals sound almost like the nuts and bolts of an organization that can be interchanged and dispensed with at will (Wilson, 2005, p.