Describe how Minister of Finance is held accountable.
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Describe how Minister of Finance is held accountable.
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- Please describe the budget narrative and why it is so relevant.The traditional method for accounting purposes is the Gross Domestic Product. However, this method does not account for environmental changes.c) What is ‘triple bottom reporting’ and why is it considered important? Give an example of such reporting.The finance director, Montse Mirabelle, has informed you that a significant fraud took place during the year in the payroll department. A number of fictitious employees were set up on the payroll and wages were paid into one bank account. This bank account belonged to two supervisors, who were married, and were employed by Heraklion Co. One had sole responsibility for setting up new joiners in the payroll system and the other processed and authorised bank transfer requests for wages and supplier payments. These employees no longer work for the company and Montse has asked the audit firm for recommendations on how to improve controls in this area to prevent this type of fraud occurring again. Heraklion Co operates a Human Resources department. Required:(c) In relation to the payroll fraud, identify and explain THREE controls Heraklion Co should implement to reduce the risk of this type of fraud occurring again and, for each control, describe how it would mitigate the risk.
- Describe the budgeting process, three major budgeting challenges, and the four major types of budgets.Obtain and review a credit policy and procedures document from any selected financial institution. Review the contents and write a critique on the three key areas addressed in the policy. Highlight any one area which you think was not properly addressed, making two recommendations for improvement of the document, the policy and proceduresHow these credit-ratings companies measure and monitor performance? What is a credit scorecard, and how does that work?
- In addition to understanding budgeting processes, is it important to know the entity that prepared a budget for a criminal justice agency you work for? Why or why not? To what extent should a criminal justice agency or department allow social influence or pressure to influence budgetary policies or strategies? Justify your response. Provide an example of a time when social, economic, or legislative pressure influenced a fiscal policy in criminal justice.Discuss the role of the finance/accounts manager and identify two approaches for the below activities and justify your selection for recruitment and selection of operation and technical staff of a business Communication to staff on pending changes and other relevant information. Preserving the brand of the company and maintaining its local and global standing.Discuss any differences between the budgeting process of a company and budgeting process of a government.
- demonstrate an understanding of accounting principles and practices; apply Generally Accepted Accounting Principles (GAAP) in the accounting cycle demonstrate the relationship between GAAP and accounting practices describe the roles of various agencies (e.g., CPA Ontario, Ontario Securities Commission, Canada Revenue Agency) and their effects on accounting practices.Discuss the changes proposed by Budget 2021 in context of Income tax in detail.Read the above passage. How does this relate to business, and what are some solutions to this problem? What is the purpose of this passage and how does it affect the business management right now? Americans’ collective credit card balances totaled $986 billion at the end of last year, up $61 billion from the previous quarter, according to the Federal Reserve Bank of New York’s quarterly household debt report. Overall, U.S. household debt—including mortgage, auto, student loan, and credit card debt—grew to $16.90 trillion at the end of 2022. That $61 billion increase in credit card debt, however, was the largest quarterly jump recorded in the history of the N.Y. Fed’s data, which dates back to 1999. Additionally, the total accumulated credit card debt surpassed the pre-pandemic record of $927 billion. “Credit card balances grew robustly in the fourth quarter, while mortgage and auto loan balances grew at a more moderate pace, reflecting activity consistent with pre-pandemic levels,”…