Internal controls and weaknesses report Essay Example | Topics and Well Written Essays - 1250 words

Internal controls and weaknesses report - Essay Example The paper "Internal controls and weaknesses report" aims to analyze purchase and payment and the receipt and sales functions of a business enterprise. Audit and assurance are important accounting functions which seek to check the completeness of financial records. These two functions are mandatory for businesses that operate as public limited companies. However, other business establishments, including sole proprietorship, can opt to conduct an audit of their business processes so as to ensure that their businesses are operating optimally. This voluntary action will go a long way in ensuring that the interest of the owner of the business is safeguarded. The purchase and sales functions of this business happens to have some weaknesses which can be remedied by the implementation of the recommendations that have been tabulated. The purchase and the sales function of a business are very important to a business. These functions ensure that the assets of the business are well taken care of . It is very important to ensure that these functions are operating optimally to ensure that the business operations run smoothly. Audit and assurance is the business function that maintains control on this processes. This function ensures that the correct books have been kept and the right transactions have been recorded. It also ensures that proper authority has been obtained for any business transaction to occur. An accounts payable clerk (AP) and purchasing officer (PO) are employed in addition.

Relationships with Grandparents Essay Example | Topics and Well Written Essays - 250 words

Relationships with Grandparents - Essay Example One study suggests that grandparents â€Å"are thought to exert influence is in adolescent and young adult grandchildren’s identity development† (Wise, 2010, p. 57). I would have to agree with this statement since there are various things about me in which I can point out to be my grandparents’ influence, and there are also a lot of events from my adolescent years in which I was able to appreciate family ties because of them. Furthermore, the generational gap between grandchildren and grandparents can be a tool in establishing a balanced relationship, while parents are busy working for the needs of the families. Grandparents can be very tolerating with our acts, especially if they live far from where our parents live. However, some of us failed to see their effort of bringing the essence of a complete family. As what Wise (2010) points out, the mediating roles of grandparents are evident when the child wants to visit the grandparents, accompanied by his mother or father. This is especially important since children from divorced parents need more social support. They could be a potential emotional counselor since they have more experience than their grandchildren, and consequently teach them how to handle things in a mature way. The role of the grandparents in the family, and the social structure as a whole is crucial in a way that they are in between being caregivers for their grandchildren and at the same time, needing care for themselves.