Internal Control Essay

Internal controls are processes and procedures put in place by any organization to ensure that its objectives are met.   It consists of all the measures undertaken by the business in protecting its resources against waste; enhancing efficiency, reliability and accuracy in financial reports; compliance with the laid down regulations; and evaluation of performance at all levels. Protection against inventory theft and loss in the studied case is realized in several ways. First, there is proper documentation of all the transactions that are carried out. An official receipt is used in every transaction. The second and the most reliable method employed to prevent the loss is the authorization of only one individual to handle the cash. All the orders and payments are made at the counter. No order can be processed before the payment for that order is made. Separation of duties also plays an important role in preventing the losses. Here, every individual is designed a specific task and everyone must be accountable and answerable for any action, omission or decision made, especially if it leads to misappropriations. The business also employs the direct control technique over assets as a means of preventing losses. It is the sole responsibility of the owner of the restaurant to do the stocking whenever there is a deficit. At the end of the day, there is a proper audi t and reconciliation of the accounts. The control procedures employed by this organization include separation of duties, authorizations, proper documentation of the transactions, and restricted access to assets. According to one of the employees, sound personnel policies are never used. The application of most of these control procedures is easily seen. The one evident most is the separation of duties. Here, every employee is assigned a specific task like, cooks only does the cooking, serving only done by those in the serving department and the cash handled by the   individual at the counter. Other controls are not seen like documentation, other than the issuance of receipts. According to one employee of this organization, the employer has no trust on his workers. The well being of the workers is also not considered. I suggest that the owner of this business should provide good working conditions for his workers and appreciate their efforts by motivations. Good customer relations should also be considered. Use of modern technology and equipment should be employed as the demand of the goods and services here sometimes go beyond the supply. The stakeholders of this business include the general customers, the workers (employees) and the owner of the business (the employer). The moral (ethical) issues in the internal control of this organization include provision of free meals to the workers and offering of the transportation facilities to the employees during odd hours of the night. This however, does not bring the conclusion that the internal controls are ethical. They are still insulting as the trust cannot be developed between the employees, the employer and the customers.

The Leader s Ethical Values Influence Leadership Style Essay

Would it amaze you if you discovered that ethics and leadership style are correlated? The leaders come from various industries for instance, public, private, government, and non-profit/for-profit. The leader’s ethical values influence leadership style. The research suggests that the transformational leadership style is established on deontological ethics whereas transactional leadership is based on teleological ethics. Leader values and transformational/ transactional leadership suggest that a divergent set of ethical values serves as the foundations of the respective leadership influence processes. Teleological (utilitarianism) ethics are associated with transactional leadership while deontological (moral altruism or Kantian rights) ethics are linked to transformational leadership. A transactional leader behaves in a moral way that brings great satisfaction to the greatest number of people. Teleological ethics emphasis on the ends and outcomes is consistent with the influence process of transactional leadership. Utilitarian values can take the form of either act (decisions based on outcomes) or rule (decisions based on rules) utilitarianism. Experimental research demonstrates that leaders primarily base their responses to ethical dilemmas on utilitarian beliefs. The change-oriented leadership literature distinguishes transformational and transactional leadership styles. Transactional leaders influence followers by controlling their behaviors, rewarding agreed-uponShow MoreRelatedConcept Of An Advancing Leadership Style1660 Words   |  7 Pagesconcept of an Advancing Leadership Style. I will identify the characteristics of a leader, and the external and internal environments that would play a part in any leadership style. 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Grading System Indian education system Free Essays

The Indian education system has taken a step forward towards reviving the education system with the introduction of grading system in session 2009-10. It will help in reducing the pressure on students during exams. In the last five years the meaning of education has changed for students from imbibing knowledge to merely scoring marks, resulting in myriad forms of education policies. We will write a custom essay sample on Grading System Indian education system or any similar topic only for you Order Now As per reports, every day more than 17 students aged between 15-25 years commit suicide in India due to non-performance in the examination or an entrance test. Watching young children of the country succumbing to the undue pressure of scoring high marks is horrifying. One of the points to note here is the thinking of the society, which puts lot of pressure on students to ‘to perform’. This pressure from schools, parents, peer groups and society takes away the youthfulness of a child. Further, a health report also supports that this often causes health hazard such as fatigue, body aches, eye weakness, stress and in more severe cases, depression (neurotic/psychotic. Looking at today’s education scenario, the Central Board of Senior Education has introduced educational counselors and child psychologists in schools to boost the confidence of young students and mentally prepare them for the board examination. This method has helped in reducing the stress and making them comfortable with the examination. Understanding the board exam system in India and its relation with students is of great importance in present times. While c oping with the expectations of school, parents and society and keeping pace with their talent, students face a lot of hardships. Thus, the implementation of a grading system and abolition of board exams is really a boon for students. Adoption of grading system in India, the grading system was introduced in 2008-09 from class I-VIII, reducing the exam stress. Extending the concept to class IX and X has further reduced the pressure, giving students an opportunity to explore other avenues. Following the US model, the implementation of the grading system is to bring in more practical education than the current theoretical method. This model prescribes a varied range of opportunities, providing children of all levels a platform to showcase their talent and pursue their interests traditionally; class XI students were given subjects as per marks scored in Class X. This system often disappointed students if they scored low. Moreover, if a student didn’t get the required percentage due to poor scoring in one subject, then the entire percentage gets affected. The grading system will give students relief. It will provide ample opportunities to students to excel in their choice filed. How to cite Grading System Indian education system, Essay examples