Approach to Doing Business Assignment Essay Case Study

Approach to Doing Business Assignment

Order ID	53563633773
Type	Essay
Writer Level	Masters
Style	APA
Sources/References	4
Perfect Number of Pages to Order	5-10 Pages

Description/Paper Instructions

Approach to Doing Business Assignment

Sources must be cited in APA format. Your response should be four (4) double-spaced pages; refer to the “Assignment Format” page located on the Course Home page for specific format requirements.

Today’s business arenas are extremely competitive nationally and internationally. Please thoughtfully consider the following statements and provide answers supported from information in your textbook and include at least one outside source with appropriate citations.

1. Support a leadership impact ideology for TQ implementation by synthesizing the processes necessary to provide an organization with a TQ paradigm.
2. Assess three (3) characteristics that contribute to a TQ organization by prioritizing the steps necessary to achieve a competitive advantage in the marketplace using TQ methodology.
3. Evaluate how you, as a manger, would integrate three (3) specific leadership initiative tools to provide your company with a TQ organization.

 

Some information from the chapter that can be helpful

 

The total quality approach to doing business may be radically different than what management and employees are used to. Managers who are used to sitting in their lonely towers at the top of the pecking order and issuing edicts from on high are likely to reject the concept of employee involvement and empowerment. Employees who are used to competing against their own fellow workers for promotion and wage increases may not be open to mutually supportive internal partnerships and teamwork. Situations such as this can create an environment that is hostile toward change, no matter how desirable that change is. Change can be difficult, even when people want to change. It can be impossible in a hostile environment.

ACC 490 Final Exam MCQs. Get An A++.

Home>Business & Finance homework help>Accounting homework help

1. F: Under direct control should be independently.
   2. F: Domestic companies should be companies under its jurisdiction
   3. F: Senate should be Congress
   4. T
   5. F: GAAS should be GAAP.
   6. F: Overstatements should be understatements
   7. T.
   8. T
   9. F: Relevance should be competence and competence should be relevance
   10. F: Second should be third.
   11. F: Internal should be independent
   12. T
   13. F: Immediately after should be Before
   14. F: Delete not.
   15. T.
   16. F: Cannot should be may.
   17. T.
   18. T.
   19. T
   20. F: Do not allow should be allowMultiple Choice:
   Required: Indicate the best answer choice for each of the following.
   1. Within the generally accepted auditing standards, the general standards relate primarily to:
   a) qualifications of the auditor and the quality of the auditor’s work.
   b) qualifications of the auditor.
   c) the relationship between GAAS and generally accepted accounting principles.
   d) the fairness of the financial statements.
   e) the general distribution of audit reports.

   2. The essence of the due care standards is that the auditor should not be quilty of:
   a) bias.
   b) objectivity.
   c) errors in judgment.
   d) fraud.
   e) negligence.

   3) Gross negligence can best be defined as:
   a) fauilure to exercise due care.
   b) misrepresentation.
   c) failure to exercise even slight care.
   d) criminal fraud.
   e) collusion.

   4) Section 18 liability is relatively narrow in scope because it relates only to a false or misleading
   statement in documents “filed” with the:
   a) FASB
   b) IRS
   c) SEC
   d) AICPA
   e) IMA

   5) For a particular assertion, contril risk is the risk that:
   a) a material misstatement will occur in the accounting process.
   b) controls will not detect a material misstatement that occurs.
   c) audit procedures will fail to detect a weak control system.
   d) the prescribed control procedures will not be applied uniformily.
   e) an immaterial misstatement will occur in the accounting process.

   6) Which of the following would not be an important factor in the understanding an entity’s industry,
   regulatory environment and other external factors?
   a) the competitive environment.
   b) the political environment.
   c) relevant accounting pronouncements.
   d) technological developments
   e) the nature of the entity.

   7) Which of the following would not be considered underlying accounting data?
   a) sales invoices.
   b) the general ledger
   c) books of original entry
   d) accounting manuals
   e) accounts recievable ledger

   8) Which of the following would not be considered corroborating information?
   a) canceled checks held by the client
   b) confirmations from vendors
   c) oral evidence obtained from client personnel
   d) the accountant’s work sheet
   e) other information obtained by the auditor

   9) The importance of the accept/reject decision for a particular client si reflected in the inclusion of
   “acceptance and continuation of clients” as:
   a) the subject of Statement of Financial Accounting Standards 96.
   b) the subject of Statement of Auditing Standards 7.
   c) a separate rule in the AICPA Code of Conduct.
   d) an explicit part of the General Standards
   e) one fo the quality control elements for CPA firms.

   10) In the communication with the predecessor auditor, the potential successor should make specific and reasonable inquiries regarding matters that may affect the decision to accept the engagement. Which of
   the following items are likely to be included in the inquires?
   a) the integrity of management
   b) disagreements with management about accounting matters
   c) specific areas of audit difficulty and cost
   d) the predecessor’s understanding of the reasons for a change in auditors
   e) disagreements with management about auditing matters

   11) The quality control element(s) most directly related to the auditor’s assessment of her competence to
   perform the audit is (are):
   a) assigning personnel to the engagement and consulation
   b) assigning personnel to the engagement
   c) consulation
   d) independence
   e) supervision

   12) In making judgments about materiality at the account balance level, the auditor must consider the
   relationship between it and financial statement materiality. This should lead the auditor to plan the audit
   to detect misstatements that:
   a) are individually material to the statements taken as a whole
   b) are individually immaterial to the statements taken as a whole
   c) may be immaterial individually, but may aggregate with misstatements in other accounts to a material
   level.
   d) bring the cumulative total of known misstatements to the level of materiality established by
   management
   e) are individually material to the account balance

   13) The auditor has choosen the preliminary strategy of lower assessed control risk. Which of the
   following is not a validly specified component of this strategy?
   a) use planned assessed level of control risk or moderate or low
   b) plan tests of controls, probably testing computer controls embedded in the client’s system
   c) plan restrictive substantive tests
   d) plan few, if any, tests of controls
   e) use a planned assessed level of analytical procedures risk at a high level

   14) For which of the following accounts is the primarily substantive testing strategy least likely?
   a) bonds payable
   b) trade accounts payable
   c) equipment
   d) capital stock
   e) machinery

   15) Which of the following risk factors is an example of an assertion specific inherent risk factor?
   a) Management override of internal controls
   b) The impact of technological developments
   c) Inadequate accounting skills
   d) Management turnover
   e) Contentious accounting issues.

   16) Which of the following would be considered the most conservative settings for inherent risk and
   control risk?
   Inherent Risk Control Risk
   a) 1.01.0
   b) 1.00.0
   c) 0.00.0
   d) 0.01.0
   e) 0.50.5

   17) Which of the following factors are included in a firm’s control environment?
   Board of Director Integrity and EthicalCommitment
   Valuesto Competence
   a) NoYesYes
   b) YesYesYes
   c) YesNoNo
   d) YesYesNo
   e)YesNoYes

   18) “A significant deficiency, or combination of significant deficiencies, that results is more than a
   remote likelihood that a material misstatement of the annual or interim financial statements will not be
   prevented or detected” is the definition of:
   a) a material weakness
   b) a significant deficiency
   c) a control defiency
   d) a material misstatement
   e) an internal control deficiency

   19) In PPS sampling plans, the risk of incorrect rejection is:
   a) stated explicity in the mode.
   b) not controlled at all
   c) directly related to sample size
   d) controlled indirectly by specifying anticipated misstatement
   e) always quantified

   20) In the audit risk model, audit sampling apllies to:
   a) detection risk
   b) inherent risk and control risk
   c) control risk and detection risk
   d) inherent risk and detection risk
   e) control risk

RUBRIC QUALITY OF RESPONSE NO RESPONSE POOR / UNSATISFACTORY SATISFACTORY GOOD EXCELLENT Content (worth a maximum of 50% of the total points) Zero points:  Student failed to submit the final paper. 20 points out of 50:  The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. 30 points out of 50:  The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately.  Elements of the required response may also be lacking. 40 points out of 50:  The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples.  The answer is complete. 50 points:  The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples.  No aspects of the required answer are missing. Use of Sources (worth a maximum of 20% of the total points). Zero points:  Student failed to include citations and/or references. Or the student failed to submit a final paper. 5 out 20 points:  Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. 10 out 20 points:  References to scholarly sources are occasionally given; many statements seem unsubstantiated.  Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. 15 out 20 points:  Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented.  APA 6th Edition is used with only a few minor errors.  There are minor errors in reference and/or citations. And/or there is some use of questionable sources. 20 points:  Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented.  APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. Grammar (worth maximum of 20% of total points) Zero points:  Student failed to submit the final paper. 5 points out of 20:  The paper does not communicate ideas/points clearly due to inappropriate use of terminology and vague language; thoughts and sentences are disjointed or incomprehensible; organization lacking; and/or numerous grammatical, spelling/punctuation errors  10 points out 20:  The paper is often unclear and difficult to follow due to some inappropriate terminology and/or vague language; ideas may be fragmented, wandering and/or repetitive; poor organization; and/or some grammatical, spelling, punctuation errors 15 points out of 20:  The paper is mostly clear as a result of appropriate use of terminology and minimal vagueness; no tangents and no repetition; fairly good organization; almost perfect grammar, spelling, punctuation, and word usage. 20 points:  The paper is clear, concise, and a pleasure to read as a result of appropriate and precise use of terminology; total coherence of thoughts and presentation and logical organization; and the essay is error free. Structure of the Paper (worth 10% of total points) Zero points:  Student failed to submit the final paper. 3 points out of 10: Student needs to develop better formatting skills. The paper omits significant structural elements required for and APA 6th edition paper. Formatting of the paper has major flaws. The paper does not conform to APA 6th edition requirements whatsoever. 5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6th edition paper. They can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements.  The student also significantly writes too large or too short of and paper 7 points out of 10: Research paper presents an above-average use of formatting skills. The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. 10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper.
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