Texas Anti Marijuana Laws Should Be Banned - 966 Words

Texas has had a long history of being a state that marijuana is smuggled into across the border with Mexico. The anti-marijuana laws in Texas are some of the strictest in the United States with high fines and long prison sentences. Currently under Texas laws the possession of 2oz or less can result in 180 days in jail and or a fine up to $2000 dollars, as well as your license being suspended for 12 months. So why does Texas take a such a harsh stance against marijuana? Why does Texas keep throwing money on fighting a war on marijuana? How many more of our fellow Texans are going to have their lives ruined over using a plant that grows out of the ground. Through research I will show and explain how the current aggressive laws and policy against marijuana in Texas effects not only the users, but every Texan. The beginning of Texas anti-marijuana laws can be traced back to the city of El-Paso (Drug Policy ORG). Prior to 1914 Texas had no laws concerning the usage or sale of the p lant, but then the stories of people using marijuana in Mexico and terrorizing people made their way to El-Paso and the Deputy Sheriff Stanley Good. Deputy Good made it a personal mission of his to get El-Paso to make the substance illegal. The whole basis of his argument is that immigrants from Mexico will come to the Untied States and use the drug and terrorize El Paso. At the time marijuana use was prevalent in the border towns by both Americans and Mexicans but nobody gave it anyShow MoreRelatedThe War Over Marijuana1862 Words   |  7 Pagesrogue elephant in the game room everyone running for president pretends not to see. (Steigerwald) The present works aim is to analyze the concerns which revolve around the marijuana state and federal legalization debate, with special emphasis on its positive outcomes. The majority of clinical research studies concerning marijuana use and its effects unravel the uncertainty which surrounds the subject and present the common pattern of insisting that further clinical enquiry is necessary. MeasurableRead MoreShould Marijuana Be Legalized?1788 Words   |  8 PagesThe use of marijuana has been around since B.C. times and was banned by the US government in Marijuana Tax Act of 1937. However, the debate over the legalization of cannabis sativa, known as marijuana, has been one of the most prominent and controversial issue in society today besides same sex marriage. Over the centuries, a shift in opinion in the favor of legalization has been seen. There are five jurisdictions in the United State that have rejected the failed prohibition of marijuana and changedRead MorePrayer, Homosexuality, And Alcohol And Drugs1469 Words   |  6 Pagesbetween religion and freedom. This paper will discuss three areas where this battle is manifested: public prayer, ho mosexuality, and alcohol and drugs. America today reflects the outcome of each side’s ability to make laws and the measures that were taken to achieve its goals. These laws have reshaped America. One area of reform in reshaping America involves education, specifically the controversy of keeping or prohibiting prayer in public schools. There were two landmark cases concerning the controversyRead MoreMedical Cannabis Should be Legal Essay1657 Words   |  7 Pagescontroversial issue whether drugs such as marijuana should be legalized or not. Some people advocate this issue and believe that legalization is the only solution left for the nation while other oppose because it will increase the numbers of drug users and drug related crimes.Marijuana is a drug that is legal in the United States.This drug is bad and cause some side effect to your brain and body.Scientists have found smoking marijuana can cause you to loses your memory. Marijuana has many psychological and physicalRead MoreThe Associate Justice Of The Supreme Court1378 Words   |  6 Pagessister and a younger brother. Thomas father walks out of his life at an early age. His mother eventually sent him and his brother away to live with her parents in Savannah, Ga. Thomas attended the College of Holy Cross and graduated from Yale school of law. Thomas has accomplished many accomplishments in his lifetime, that’s why I find Thomas one of the most influential individuals to serve in the courts. He was nominated by bush to serve a seat on the U.S. court of appeals for the District of ColumbiaRead MoreThe Issue Of Marijuana Legalization1712 Words   |  7 PagesThe matters of marijuana Marijuana is still illegal in the eyes of the federal government but the states claim it is, in fact, legal for the states to openly practice recreational and medicinal usage of the drug. Now with many people sick the only other option after numerous prescriptions that make the people sicker marijuana given its pain releasing properties seems to be the only thing we can count on. Marijuana first dated euphoric use dates back to 2737 BC. Its use spread from China to IndiaRead MoreGun Crimes Cause Serious Harm to Children by Christine Watkins871 Words   |  4 Pagesfactors that must be taken into consideration. Fred Reed, the author of, â€Å"Why Gun Control is Certain to be Effective† Discusses that there are many illegal activities that have long since been banned, but are still affecting America as a whole, negatively. Substances such as alcohol, meth, cocaine, and marijuana in most states, are readily available to the people willing to partake in criminal activities (Gun Control). By looking at America’s past, it is obvious that making something illegal does littleRead MoreMedical Marijuana Should Be Legal1851 Words   |  8 Pagesrecent years, medical marijuana has become legal in 23 states across the country, including washington D.C, new york,new jersey, oregon, and many others. Medical marijuana has been know too aid cancer patients und ergoing chemotherapy, along with a large number of medical conditions like Glaucoma, Arthritis, migraines, hepatitis C and many others. While there is a large following in the medical marijuana movement, there is also a large counter-movement who want to medical marijuana to stay illegal. InRead MoreLegalizing Weed Essay2923 Words   |  12 Pagesglorifies the cultivation of marijuana. Cypress Hill, a Los Angeles based rap group, has long championed the legalization of recreational and medical marijuana, which has recently become a pressing issue in this day of alternative medicine, civil liberties, and humane treatment for the terminally ill. As an increasing number of states pass laws allowing medical marijuana and authoritative studies legitimizing both recreational and medicinal use of marijuana continue to appear the argumentsRead MoreEssay about The Arguments for and Against Drug Testing in the Work Place2159 Words   |  9 PagesARGUMENTS FOR AND AGAINST The Arguments For and Against Drug Testing in the Work Place Becky M. Kanipe Orientation to Doctoral Learning in Psychology The Arguments For 2 Abstract The issues of whether society should permit the business sector to test for the presence of illegal drug use by the employees, is one in which seemingly convincing arguments can be proposed to support it, as well as equally convincing arguments against the concept. In this paper, I will

Education For A Better Future - 1493 Words

Education for a Better Future As students approach their senior year in high school the stressor of trying to get into an exceptional school kicks in; however, undocumented students deal with the fear of uncertainty in their future. â€Å"Around 65,000 undocumented immigrants graduate from high school, but out of those 65,000 only 6,500 go on to attend college†(Kelsey). Where these students come from should not affect the level of education they can obtain. Other states across America have already starting allowing undocumented students to apply for financial aid along with in-state tuition. There are thousands of undocumented students that get accepted into prestigious schools, but find themselves hopeless in the end because the cost may be too much to bear. Undocumented students should be able to earn in-state tuition given that they meet or excessed academic standards set by colleges, but given this certain laws should also be in place in order to avoid a surge of undocumen ted immigrants coming to America as a result of it. In United States twenty out of the fifty states are offering undocumented students the chance for in-state tuition. â€Å"Five of those states (California, Washington, Texas, New Mexico, and Minnesota) are going as far as offering undocumented students financial aid†. In order for those undocumented students in those twenty states to be granted these benefits they must first qualify and meet the states requirements. Although some states mayShow MoreRelatedA Better Future. . â€Å"Education Is The Passport To The Future,1528 Words   |  7 PagesA Better Future â€Å"Education is the passport to the future, for tomorrow belongs to those who prepare for today†, exclaimed Malcolm X in BrainyQuotes.com. People have very different reasons on why going to college and getting an education is important for them. A college education is one of the key values to one’s successful future by providing a secure pathway into finding a lifetime career. College education does not only help a person get a job, but also teaches he or she how to invest in themselvesRead MoreA Better Education For A Brighter Future1225 Words   |  5 Pages A Better Education for a Brighter Future When we think of our favorite celebrities and leaders, it is hard to imagine them having a life that is nothing but prosperous. However, many celebrities overcame many trials and tribulations before they become famous and rich. These individuals had proven that even if you are born into a ‘bad situation’ you have the potential to pull yourself out of poverty. These actors, musicians, TV hosts and writers all grew up in poor and poverty strickenRead MoreThe Aims Of Education : A Better Society For The Future1269 Words   |  6 PagesThe aims of education to me is produce a better society for the future. To help them be moral, ethical, and develop a higher sense of thinking. This way they can help progress society as a whole, and advance further together into the future. Having the future citizens of the world have a higher sense of thinking can aid them in their decisions more moral; assist them in determining what is right and wrong. Students will need to learn how to be more open minded and able to share knowledge amongstRead MoreEarly Childhood Education: A Wise Investment Approach for a Better Future721 Words   |  3 PagesTitle Early Childhood Education: A wise investment approach for a better future. 1. Core message There are many benefits from improving quality in Early Child Education services and the trade-off between affordability and quality in these services should not determine the efficiency of this improvement. Even though this latter issue (affordability versus quality) comes to reality and associated dollar cost might impact on families’ budget, it should be explain benefits from this kind of actionsRead MoreEducation Is Not For Our Future And Better Prepare Us For The Real World1582 Words   |  7 Pagesinstitution that is supposed to shape our future and better prepare us for the real world. We pay them thousands of dollars so we can earn a degree that can earn us thousands of dollars and maybe much more. We have been shaped to think that this is the exact path that we have to take when we grow up and exactly how the majority of young adults are spending their late teens to early 20s. Now to get into these institutions in which we receive our higher education from we have to meet certain requirementsRead MoreProfessional Development of Nursing Professionals824 Words   |  4 Pages(IOM) introduced a two year contract in 2008 (IOM, 2010). The basis of the contract is recommendations, which will impact the future of nursing care, and include changes in â€Å"public and institutional policies at the national, state, and local levels† (Future, 2010). This essay will provide a basic understanding of the IOM’s contract, including the impact on nursing education, nursing practice in primary care, and the impact on the nurse’s role as a leader. Overview the IOM Report: Transforming NursingRead MoreClass Dismissed By Meredith Maran1027 Words   |  5 Pageschildren gain better futures. The author mentions that parents who devote more time and effort are those who believe that schools and education will improve their children’s chances of success. Most of them benefited from education when they were students. In contrast, parents who do not believe schools and education put less effort into their children’s educations. In addition, the author points out that social background determines how much parents devote to their children’s educations. The inequalitiesRead MoreEducation Is The Establishment Of Accomplishment1220 Words   |  5 Pages Education is the establishment of accomplishment, on the off chance that you have objectives and exclusive standards; you can fulfill them through education. Higher education is a system where a four year degree can give you a wide enduring future. Being that the hig her education is the most specific way to achieve a goal in the future in terms of jobs and higher earnings. More on the higher education are now financially aided by the government and that helps students a considerable during theirRead MoreEducating Afghan Girls Education929 Words   |  4 Pages Educating Afghan Girls’ Education is one of the most important contributors to having a successful future. In developed countries such as North America boys and girls are fortunate enough to have access to an unbiased education system. Therefore, allowing children to have countless opportunities. However, in countries like Afghanistan girls are marginalized and neglected the right to learn. Afghanistan is a country of war, where women and girls are often the worst victims. In 2011, Afghanistan wasRead MoreArgumentative Essay - Education in Latin America848 Words   |  4 PagesEDUCATION = FUTURE, A LATIN-AMERICAN PERSPECTIVE by Ana-Maria Gonzalez â€Å"Education leads to a brighter future.† Quite a clichà ©d phrase, actually. So popular, that people tend to forget the true significance of it. It is known that Latin America faces numerous problems that makes looking into the future a discouraging view; but we fail to realize the lack of education may be the root of these issues, including violence, unemployment and poverty. Even though education is widely available in Latin

How Private Schools Are Using iPads

Private schools are on the forefront of using technology to further education. NAIS, or the National Association of Independent Schools, has developed a set of principles about technology use in their member schools that emphasizes the importance of training teachers so they can implement the new technologies in their classrooms. As technology educator Steve Bergen of Summercore has noted in his thirty years experience implementing technology in private schools, the key to implementing technology well in schools is training teachers to use it well and use it across the curriculum. Here are some novel ways private schools across the country are using technology, including iPads. Using the iPad to Teach Across the Curriculum Many private schools have begun to use tablets, including iPads. For example, Cambridge Friends School, a co-ed Quaker pre-K through 8th grade school in Massachusetts, developed a program by which every sixth, seventh, and eighth grader will use an iPad to replace laptops. As reported in Business Wire, The iPads were provided in part thanks to a grant from Avid founder Bill Warner and his wife, Elissa. The iPads are used across the curriculum, in every subject matter. For example, students use them to watch time-release photos of an osmosis and diffusion lab. In addition, students were able to see a slide of the Maya temple of Chichà ©n Itzà ¡ and then swipe across the slide to see what the temple looked like 1,000 years ago. Using the iPad to teach Math San Domenico School, a boys and girls pre-K through 8th grade day school and a 9-12 girls day and boarding school in Marin County, California, has a 1-to-1 iPad program for grades 6-12 and an iPad pilot program in grade 5. The schools technology department works to train teachers in all grades to use the technology to further educational goals. For example, math teachers at the school use iPad math text applications, and they also use the iPad for taking notes and managing homework and projects. In addition, teachers can use applications such as videos from Khan Academy to reinforce their skills. Khan Academy has over 3,000 videos on a range of academic areas, including math, physics, history, and finance. Students can use their videos to practice skills and keep track of how well they are doing towards reaching their goals. Another well-known math application is Rocket Math, available as an iPad application. Through this program, students can practice math skills through worksheets or through math missions on the iPad. At the nearby Drew School a co-ed 9-12 school in San Francisco, all students also have an iPad. Students are trained about how to use their iPads, and they are allowed to bring their iPads home. In addition, the school hosts training sessions for parents to learn how to use the iPad. At the school, math teachers digitally project math problems that students can work out on their iPads, and teachers and students use a program called SyncSpace Shared Whiteboard to work together on math problems. The images captured on the Whiteboard can be e-mailed or saved. Eventually, the school plans to replace all textbooks with iPads. The iPad as an Organizing Device Students can also use the iPad as an organizational tool. Some teachers at different schools have noted that the iPad can help middle school and other students who tend to lose or misplace homework handle and centralize their assignments. In addition, students who have iPads do not misplace their textbooks or notebooks. Students can also use the iPad to take and organize notes using tools such as the Note function or a program such as Evernote, which allows students to tag notes and place them in specific notebooks so they can be easily found. As long as students dont misplace their iPad, they have all their materials at their disposal.

Financial Accounting 1 - 4806 Words

Multiple Choice: 1. In general terms, financial assets appear in the balance sheet at: a. Face value b. Current value c. Cost d. Estimated future sales value 2. Which of the following practices contributes to efficient cash management? a. Never borrow money – maintain a cash balance sufficient to make all necessary payments. b. Record all cash receipts and cash payments at the end of the month when reconciling the bank statements. c. Prepare monthly forecasts of planned cash receipts, payments, and anticipated cash balances up to a year in advance. d. Pay each bill as soon as the invoice arrives. 3. Each of the following measures strengthens†¦show more content†¦9. Which of the following actions is least likely to increase a company’s accounts receivable turnover? a. Encouraging customer’s to use bank credit cards, such as VISA and MasterCard, rather than other national credit cards, such as American Express. b. Offer customers larger cash discounts for making early payments. c. Reduce the interest rate charged to credit customers. d. Sell accounts receivable to a factor. 10. On October 1, 2011, Coast Financial loaned Barr Corporation $300,000, receiving in exchange a nine-month, 12 percent note receivable. Coast ends its fiscal year on December 31 and makes adjusting entries to accrue interest earned on all notes receivable. The interest earned on the note receivable from Barr Corporation during 2012 will amount to: a. $9,000 b. $18,000 c. $27,000 d. $36,000 11. Puget Sound Co. sold marketable securities costing $80,000 for $92,000 cash. In the company’s income statement and statement of cash flows, respectively, this will appear as: a. A $12,000 gain and a $92,000 cash receipt. b. A $92,000 gain and an $8,000 cash receipt. c. A $12,000 gain and an $80,000 cash receipt. d. A $92,000 sale and a $92,000 cash receipt. 12. The primary purpose for using an inventory cost flowShow MoreRelatedFinancial Accounting 14890 Words   |  20 PagesFINAL EXAM 1 1. Which of the following is the fundamental accounting equation? Current assets + Current liabilities = Owners equity Assets + Owners equity = Liabilities Cash = Debts + Common stock Assets = Liabilities + Owners equity 2. On December 31, 2014, Track Record Inc.s sales people have ï ¬ rm outstanding orders totaling $1.66 million, which, it has guaranteed its customers, will be fulï ¬ lled during the month of January 2015. If Track Record includes the $1.66 million in its sales ï ¬ guresRead More1-The Presentation Of Financial Accounting Information1310 Words   |  6 Pages1- The presentation of financial accounting information is governed by a combination of legal requirements and accounting regulations and conventions. Different types of business entities are governed by different requirements for the preparation of financial statements. Discuss the different elements of financial statement and support with examples from the Annual report of Al Marai. Balance sheet: financial statement that summarizes a company s assets, liabilities and shareholders equity atRead MoreFinancial Accounting Libby Chapter 1 Notes4725 Words   |  19 Pagesï » ¿Lesson 1:   The Accounting Process (Textbook Libby et al. Chapters 1 and 2). Objectives:  Ã‚  Ã‚  Ã‚  Ã‚   When you have successfully completed this lesson, you will be able to... Define accounting and explain its purpose Define business and identify the different types of businesses Explain the accounting equation: Assets = Liabilities + Owners Equity Visualize the start of a business, create accounting transactions for it, and prepare simple financial statements   Reading Assignment Please read chaptersRead MoreAdvanced Financial Accounting Chapter 1 Notes Essay2661 Words   |  11 Pages1 Intercorporate Acquisitions and Investments in Other Entities McGraw-Hill/Irwin Copyright  © 2009 The McGraw-Hill Companies, Inc. All rights reserved. The Development of Complex Business Structures †¢ Enterprise expansion as a means of survival and profitability – Size often allows economies of scale – New earning potential – Earnings stability through diversification – Management rewards for bigger company size – Prestige associated with company size 1-2 OrganizationalRead MoreFinancial Accounting IFRS Edition E2 CH.1 Answer7691 Words   |  31 PagesCHAPTER 1 Accounting in Action ASSIGNMENT CLASSIFICATION TABLE Brief Exercises A Problems B Problems 5, 6, 7, 11 1A, 2A, 4A 1B, 2B, 4B 3 6, 7, 8, 10, 11 1A, 2A, 4A, 5A 1B, 2B, 4B, 5B 4 8, 9, 12, 13, 2A, 3A, 14, 15, 16, 17 4A, 5A 2B, 3B, 4B, 5B Learning Objectives Questions Do It! Exercises 1. Explain what accounting is. 1, 2, 5 1 1 2. Identify the users and uses of accounting. 3, 4 1 2 3. Understand why ethics is a fundamental business concept. 4. Explain accounting standardsRead MoreEssay on Financial Accounting Theory and Analysis† Text and Case: 1-2644 Words   |  3 PagesFinancial Accounting Theory and Analysis† Text and Cases Case 1-2 Accounting Ethics a. What, if any, ethical issue is involved in this case? Legally the financial vice president is not obligated to move to the new standard; however, I do see an ethical issue with this decision. The ethical decision lies in the fact that the vice president is knowingly presenting financial statements that do not reflect the true condition of the company. This is a great example of the line between ethicsRead MoreBAF 301 Accounting and financial management Assignment 1 Mohammad Gholamali 20101147 Dr. Suja900 Words   |  4 PagesBAF 301 Accounting and financial management Assignment 1 Mohammad Gholamali 20101147 Dr. Suja Sarah Thomas Colleague of Electrical Electronics Engineering Introduction In this report I am going to write some of the important principle and assumption and guidance used to prepare accounting statements. In the world of business there are some general rules and principles which the universe of accounting uses them as a general guidance. There are some international framework like Financial accountingRead MoreRelationship Between Accounting Principles Board And The Financial Accounting Standards Board1349 Words   |  6 Pagesbrief history of the relationship between the Accounting Principles Board and the Financial Accounting Standards Board. Accounting Principles Board. In 1936 the American Institute of Accountants merged with the American Society of Certified Public Accountants, forming a larger organization later named the American Institute of Certified Public Accountants (AICPA). In 1936 the American Institute of Certified Public Accountants Committee on Accounting Procedure (CAP) was formed.(Schroeder CatheyRead MoreThe International Accounting Standards Board1687 Words   |  7 Pagesbeen a significant transformation in the global financial structure. These remarkable chang es are a result of increasing global competition, changes in business and political climate, increasing technological advancements etc. Globalization in particular has given the corporations and individual borrowers to look beyond the borders for finance and investment opportunities. In order to protect these investors and to maintain the market integrity a financial reporting framework was developed. This frameworkRead MoreU.s. Accounting Practices Can Cause Complications1060 Words   |  5 PagesAfter a thorough analysis of several U.S. accounting failures such as those at ENRON, Worldcom, and others, individuals in the European Union and around the world claim that had the U.S. followed International Financial Reporting Standards, instead of U.S. GAAP, these debacles might never had happened. For many years, the accounting profession had faced several challenges developing a set of guidelines that would be generally accepted and universally practiced around the globe. In more r ecent years

Robin lane fox Free Essays

It is an immense task to relate the story of the world’s most successful conqueror in 553 pages but Robin Lane Fox manages to narrate the tale of Alexander the Great in a way no other author ever has. A story that has been repeated over and over again, and every account of the life of Alexander the Great has many versions which is somewhat shrouded in mystery, with elements of ambiguity. We will write a custom essay sample on Robin lane fox or any similar topic only for you Order Now Main Body:   Fox manages to find a completely new angle on the intriguing account of the history’s most enigmatic leader, putting aside mundane details and stiff diction used by historians and instead using the evidence and facts and enveloping them with all the energy, passion and vigor which the incredible account of Alexander’s life deserves. Born in 336 BC Alexander became the king of Macedonia at the age of 20, from there on he established an empire far greater then any other conqueror could ever even think of, he was the only military leader who was never defeated in any battle. The book has all the dramatic and tragic elements to make it seem like a work of fiction but the historically accurate details and facts used by the author makes this book a reliable source for historical information. Fox really made a reader see what Alexander’s times was like and how the people belonging to his times were like, he plunges into the depths of this man’s desires in a desperate need to narrate to the reader what motivated this young King to conquer the world. The account of Cleitus’s murder by Alexander is an exceptionally well written part; Mr. Fox writes that â€Å"the gist of the taunts that resulted in his murder can still be recovered today†. The description in the book about various aspects of the surroundings whether it be nature or interiors is superb the author really wants the reader to experience the times and events of Alexander the Great. Every chapter narrates the famous battles and conquests making them even more interesting with myths and legends related to them. Fox not only gives the report of the events happening at that time but also comments on how they affected the later civilizations. He writes about the various events that took place during Alexander’s life and what changes his conquests brought about in the world.   However there are shortcomings in the book as well for instance the author does not analyze the militarily tactics, all historians agree that military tactics show the true brilliance of Alexander the great, also the battle of Granicus is described very briefly and the description accepted by most historians is rejected by Fox where he says that it never took place as is told, but Alexander and his army fought in an open ground on the other side of the river. Conclusion: Many readers may find this book lacking in insight to the military life of this great leader. Fox perhaps wanted to give the reader an insight into what kind of a person Alexander the Great was instead of what he accomplished, since he often got distracted from narrating the story and goes on to making his own assumptions. The book is not an easy read but it does present Alexander the Great in a completely new light. WORKS CITED Book Rags â€Å"Alexander the Great by Robin Lane fox†, Accessed October 9, 2006, from: http://www.bookrags.com/ How to cite Robin lane fox, Papers

Case Study Swot Analysis of Chic Fashion Limited

Question 1: Using a SWOT analysis identify any weaknesses and threats that will assist in evaluating Fashion Adornments Pty Ltd's business risk and indicate how these may affect the audit of the financial report. Answer 1: The SWOT Analysis (Weakness and Threats) is enumerated below:- Weaknesses: Inactive Participation from recogn them strengthens the companys administration. ized concerns. Pay of laborers is expensive. Threats: Competitors, suppliers who are ready to supply almost homogeneous products in lesser price. Non up gradation of the quality of products. Any political, social or economic contingencies which may be the reason for fall of the industry. Effect on Audit of Financial Report: Based on the risk associated with a project or proposal, the auditor may give an opinion on how weaknesses associated with such project can be curbed. If the control and compliance department is not working properly; the auditor may give recommendations to the management regarding those issues. Question 2: a) Explain the effect on inherent risk of CFL's relationship wih the department stores, b) Indicate two financial report items that would be affected and the assertions most at risk? Answer 2: a) Inherent risk in a business organization would take place even if there is strong internal control, such as uncertainty relating to changes in economical, political, social scenarios, non availability of sufficient funds. There should be enough tools or mechanisms to mitigate such risks. CFL with its department store would be vulnerable if in the department store such fraudulent activities are taking place which the company has no idea about. If the products in the departments are not adequate to meet customers requirement, for example in a situation of more demand and less supply, an inherent risk is associated with that as the customer are left with the option of buying the same product from the competitor companies. Regular up gradation of systems and a control in the inventory management has to be put in force. b) Two financial reporting items that would be affected are inventory (pilferage), fixed assets (due to depreciation). Question 3: Identify six application controls present within the payroll system that one may be able to place some reliance on and explain why each is a control. Answer 3:- The application control system and their importance: The batch processing system ensures input authorization, tackling huge volume of data. Comparing the manually computed data with the data produced by system ensures the reasonableness of the resulted outcome. The employee details whether valid is checked by the computer indicates that the data is integrated. Application process control is being done when the documents, reports are authorized by the competent authority. By checking the validation, reasonableness, logicalness, limit and sequence of the data validation and edit control is taken care of. Output control is performed by taking authorization from employees as they put their signatures in payroll masters listing. Each of the above are controls as the presence of each of them strengthens the companys administration. Question 4: Explain the implications of the errors noted in the tests of controls Answer 4: Test of controls are taken in the auditing process when a large number of transactions are involved in the audit and it is not possible to verify each and every transactions or data within the audit period. In this problem, 80% cases are such that all control activity has been followed. Payment to an unapproved supplier in which no explanations were provided and some of the payments did not bear evidence amount to 6% of the sample size, requires follow up procedures or it can form a qualified opinion. 2 of the payments were not supported by approved purchase order; management needs to give reasons for that, as it is one of the important documents for generation of purchase. 2 instances were found in which no supporting documents were found except the original lease agreement. The errors which occur during the conduct of sample audit can be mitigated if the samples are selected in a proper way, the material error are to be reported by the auditor in the report. Proper explanations from the management will be needed in cases where documentation like order copy, bills, invoices were not found, as they are the indication of poor internal control. Question 5: Provide two examples of CAATs that could be undertaken using generalised audit software to assist with the audit of the valuation and allocation assertion for inventory of fashion adornments.Provide two examples of Caats that could be undertaken using generalised audit software to assist with the audit of the existence for inventor of fasion adornments. Give two reasons why one might not use generalised audit software to audit the inventory of Fashion Adornments. Answer 5: Computer Assisted Audit Techniques (ACL, ESKORT) are protocols of audit using the computer system as a device. One of the processes for valuation and allocation is fraud detection techniques by the use of data mining. The inventories must be coded; a check digit method may be adopted for the same.Another example of CAAT that could be undertaken using generalized audit software is of checking validating the period on which the inventory are recorded, whether they are correctly classified or not, the position of level of inventory in a particular point of time. Question 6:- Provide the opinion on the appropriateness of the audit assistant's conclusions in each of the two situations above. Answer 6:- Two examples of CAATs, for the audit of existence of inventory are IDEA (Interactive Data Extraction and Analysis) and Audit Command Language (ACL), they are suitable for performing continuous audit and data analysis. Two reasons for not implementing generalized software would be- The users might be unable (or difficult) to understand the system. They are expensive. In the background of the case, the error was related to 3% of accounts payable tested, the errors were termed as immaterial. It could be observed if such errors have impact on internal control system. The nature of such error and follow up with the management could be necessary. The Audit Assistant conducted a test where 6% errors were found, and the tolerable misstatement rate was 4%. The mistakes were not material in character. Material misstatements are reflected in audit reports to give a qualified opinion. In this case, the errors are to be dealt by informing the management of such flaws. The management is required to give explanations as they are above the rate of tolerable misstatement rate. References: Aidi Ahmi, S. K. (2013). The utilisation of generalized audit software (GAS) by external auditors. Managerial Auditing Journal , 88-113. Arndt, E. (2009). The SWOT vs. the Risk Analysis. Business Star tup Advice , 1. AU Section 312, S. o. (2006, December). Audit Risk and Materiality in Conducting. Audit Risk and Materiality in Conducting an Audit . USA: AICPA. Augustine, O. E. (2013). Impact of Audit Evidence on AuditorS Repor. Research Journal on Finance and Accounting , 92-93. Blokdijk, J. H. (2004). Tests of Control in the Audit Risk Model: Effective? Efficient? Wiley Online Library , 1. Bragg, S. (2011). What is a payroll journal? Accounting Tools , 1. Christine Bellino, J. W. (2007). Auditing Application Controls. The Institute of Internal Auditors , 1-4. Crumbley, N. A. (2008). Auditors Responsibilities with Respect to Fraud: A Possible Shift? THE CPA JOURNAL , 1-2. Isabel Pedrosa, C. J. (2012). Computer Assisted Audit Tools and Techniques in Real World: CAATT's Applications and Approaches in Context. International Journal of Computer Information Systems and Industrial Management Applications , 161-168. K.L. Jeyaraj, C. M. (2012). Application of SWOT and Principal Component Analysis in a Textile Company- A case study. International Journal of Engineering Research and Development , 46-49. Loughran, M. (2010). How to Assess Inherent Risk in an Audit. 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