Accountaability In The Workplace

     Accountability is defined as, the obligation imposed by law or lawful order or regulation on an officer or other person for keeping accurate record of property, documents, or funds. The person having this obligation may or may not have actual possession of the property, documents, or

Misstatement in auditing is the difference among the amount, grouping, presentation or disclosure of any reported financial statement element and the amount, grouping, presentation or disclosure mandatory for the element to be in agreement with the pertinent financial reporting framework (Moroney, Campbell, & Hamilton, 2014). Material misstatements can occur due to either fraud or error (ACCA Global, 2014). The auditor ought to ascertain and evaluate the risks of material misstatement right from the financial statement level and the assertion or declaration level (Arens, Elder, & Beasley, 2013). The process involves first gaining an understanding of the organization and its control procedures.

Taking ownership of work tasks allows an individual to become accountable for their activities in the workplace. It provides a person with an opportunity to conduct assessment of performance against a set of tasks for which the person has accepted responsibility. This makes

The most primary example that can depict the encompassment of ownership is that of a textbook. When we read a textbook, our eyes encapture the words in order to let our brains process and store that information. In that sense, we own the information because at

owner can make decisions independently of others and maintain responsibility for own business. He keeps his own

The owner is responsible for everything that goes on in the business and has to do a lot of work. The owner also receives all the profit and is able to make decisions on their own.

First off, how do responsibility and accountability differ? In the definitions of responsibility and accountability, the other is mentioned either in the original definition or as a synonym, so this means that the words are very similar, but what actually sets these two words apart? Responsibility differs from accountability, in such that responsibility can be shared, while accountability cannot be shared; being accountable also means more than just being responsible, it means to be ultimately

When not meeting deadlines occurs more than once, and worse, becomes a habit, damage to the unit and the Army becomes dangerous. Just one Army unit becoming habitually inefficient becomes a liability. The operations of the other units and the whole U.S. Army become adversely affected. When the Army of the greatest military force in the world fails to perform its tasks and responsibilities successfully or inefficiently, the superpower status of the USA would be imperiled, and subsequently, the security of the country would be placed in terrible danger.

Your report will form your assessment for the learning and assessment area Internal Control and Accounting Systems that comprises the following two QCF units:

Bitcoin now has the largest market capitalization among all kinds of crytocurrency. Bitcoin 's success has generated a number of other crypto-currencies including Litecoin, Peercoin, and Namecoin, etc. Bitcoin, an electronic currency, is established by computers producing a string of unique numbers through complicated math problems. Bitcoin is sold on unregulated exchanges and acknowledged by an increasing number of people and businesses due to the fast speed and low transaction cost. One Bitcoin is now valued at about $500 and other crypto-currencies hold less value. The trend is that cryptocurrencies are attracting more interest as potential investments. A distinguishing feature of crypto-currency is that it is not issued or backed by government. So it is difficult for government to manipulate or interfere with. Governments around the world hold different perspectives

The owner are people who own the business and hence they have a word in the final decision made to proceed in the business. They are interested in the business because they have put in the money and it’s their money. If the business suffers a loss then the owner suffered a loss too and if the business gained profit the owner did too. There are different types of ownership: partnership, sole traders and group owners. They all have the same objective; to prosper in the business.

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Control- Owners are permitted to organize the company in the way they prefer. All choices about how the business will operate are made by the owner. The owner has the choice of hiring someone to run the company or doing it themselves.

Accounting Information Systems ACCOUNTING SYSTEMS, INTERNAL CONTROLS, AND ETHICS Prepared for the course team by Vimlesh B. Narayan Unit 1 Contents Unit 1 Contents 2 Concept Map 3 Learning Outcomes 4 1.1 Introduction 5 1.2 Accounting System Design 6 System Objectives and Design Factors 6 Designing the System 8 1.3 Internal Control Systems 17 Objectives of Internal Control Systems 17 Structure of Internal Control Systems 18 Why You Should Consider the Components? 21 Internal Control Principles and Limitations 25 1.4 Control over Revenue and Receipts 31 Internal Control Objectives and Strategies 32 Combined Document Flows and Related Activities 35 1.5 Control over Purchases, Inventories,

Moreover, the relation between ownership of business and management and control is also key to form of business entrepreneur may invest in (Baron & Shane, 2008, p. 272). If management of business is too independent from the ownership, it may not work well for the owner in case mismanagement case results. Stability and continuity of