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Internal Control And Operational Efficiency
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Book Synopsis Internal Control and Operational Efficiency by : Qiang Cheng
Download or read book Internal Control and Operational Efficiency written by Qiang Cheng and published by . This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this study, we examine whether and how internal control over financial reporting affects firm operational efficiency. We find that operational efficiency, derived from the frontier analysis, is significantly lower among firms with material weaknesses in internal control relative to firms without such weaknesses. We document some evidence suggesting that effective internal control leads to greater operational efficiency through reducing the likelihood of misappropriation of corporate resources and through enhancing the quality of internal reports for decision making. We also document that smaller firms benefit more from having effective internal control in terms of operational efficiency. In addition, we find that the market appears to understand the effect of ineffective internal control on operational efficiency: within firms with internal control material weakness, those with more negative market reaction experience a larger deterioration in operational efficiency. Lastly, we find that the firms that remediate their material weaknesses subsequently experience an improvement in operating performance and stock returns, and this effect is mainly driven by the improvement in operational efficiency. Overall, our study extends the literature by presenting systematic evidence on the effects of effective internal control on operational efficiency and firm performance.
Book Synopsis Standards for Internal Control in the Federal Government by : United States Government Accountability Office
Download or read book Standards for Internal Control in the Federal Government written by United States Government Accountability Office and published by Lulu.com. This book was released on 2019-03-24 with total page 88 pages. Available in PDF, EPUB and Kindle. Book excerpt: Policymakers and program managers are continually seeking ways to improve accountability in achieving an entity's mission. A key factor in improving accountability in achieving an entity's mission is to implement an effective internal control system. An effective internal control system helps an entity adapt to shifting environments, evolving demands, changing risks, and new priorities. As programs change and entities strive to improve operational processes and implement new technology, management continually evaluates its internal control system so that it is effective and updated when necessary. Section 3512 (c) and (d) of Title 31 of the United States Code (commonly known as the Federal Managers? Financial Integrity Act (FMFIA)) requires the Comptroller General to issue standards for internal control in the federal government.
Book Synopsis Internal Control and Nonprofit Organizations' Efficiency by : Wei Shu
Download or read book Internal Control and Nonprofit Organizations' Efficiency written by Wei Shu and published by . This book was released on 2015 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Using a sample of 6,771 Chinese public charities from 2005 to 2012, we investigate the role of internal control quality on nonprofit organizations' operating efficiency. We present evidence that internal control weakness and remediation of internal control deficiencies are positively related to operating efficiency measured as funds received from donors and fund usage efficiency by managers. Further analyses indicate that the role of internal control quality in efficiency is more significant for non-restricted donations, private fund-raising foundations, and local charities. Overall, our study extends the literature of internal control quality of nonprofit organizations by providing evidence of the effects of internal control on operational efficiency in a government-oriented environment.
Book Synopsis Principles of Accounting Volume 1 - Financial Accounting by : Mitchell Franklin
Download or read book Principles of Accounting Volume 1 - Financial Accounting written by Mitchell Franklin and published by . This book was released on 2019-04-11 with total page 1056 pages. Available in PDF, EPUB and Kindle. Book excerpt: The text and images in this book are in grayscale. A hardback color version is available. Search for ISBN 9781680922929. Principles of Accounting is designed to meet the scope and sequence requirements of a two-semester accounting course that covers the fundamentals of financial and managerial accounting. This book is specifically designed to appeal to both accounting and non-accounting majors, exposing students to the core concepts of accounting in familiar ways to build a strong foundation that can be applied across business fields. Each chapter opens with a relatable real-life scenario for today's college student. Thoughtfully designed examples are presented throughout each chapter, allowing students to build on emerging accounting knowledge. Concepts are further reinforced through applicable connections to more detailed business processes. Students are immersed in the "why" as well as the "how" aspects of accounting in order to reinforce concepts and promote comprehension over rote memorization.
Book Synopsis Internal Controls Toolkit by : Christine H. Doxey
Download or read book Internal Controls Toolkit written by Christine H. Doxey and published by John Wiley & Sons. This book was released on 2019-07-16 with total page 400 pages. Available in PDF, EPUB and Kindle. Book excerpt: Step-by-step guidance on creating internal controls to manage risk Internal control is a process for assuring achievement of an organization's objectives in operational effectiveness and efficiency, reliable financial reporting, and compliance with laws, regulations, and policies. This is a "toolkit" approach that addresses a practical need for a series of standards of internal controls that can be used to mitigate risk within any size organization. Inadequate internal controls can cause a myriad of problems that adversely affect its ability to provide reliable, timely, and useful financial and managerial data needed to support operating, budgeting, and policy decisions. Reliable data is necessary to make sound business decisions. • Toolkit approach with detailed controls and risks outlined for key business processes • Foundational for SOX 404 initiatives • Key material to improve internal control efforts • Guidance during M&A projects Poor controls over data quality can cause financial data to be unreliable, incomplete, and inaccurate—this book helps you control that quality and manage risk.
Book Synopsis Equity Valuation and Analysis with EVal by : Russell James Lundholm
Download or read book Equity Valuation and Analysis with EVal written by Russell James Lundholm and published by McGraw-Hill/Irwin. This book was released on 2007 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: While focusing on the underlying theories of financial analysis and valuation, this work aims to answer the question, "What is this company really worth?". It takes the view that sound forecasts of financial statements are the key input to a good valuation, and that other aspects of the valuation process are mechanical.
Book Synopsis How to Comply with Sarbanes-Oxley Section 404 by : Michael J. Ramos
Download or read book How to Comply with Sarbanes-Oxley Section 404 written by Michael J. Ramos and published by John Wiley & Sons. This book was released on 2004-03-29 with total page 306 pages. Available in PDF, EPUB and Kindle. Book excerpt: Designed specifically for Sarbanes-Oxley Section 404 compliance, How to Comply with Sarbanes-Oxley Section 404 features: A step-by-step approach to engagement performance Original material from a leading expert in auditing and accounting Practice aids, including forms, checklists, illustrations, diagrams, and tables In-depth explanations to help professionals understand how best to approach the internal control engagement Examples and action plans providing blueprints for implementing requirements of the Act Order your copy today!
Book Synopsis Accounting Information Systems by : Leslie Turner
Download or read book Accounting Information Systems written by Leslie Turner and published by John Wiley & Sons. This book was released on 2020-01-02 with total page 592 pages. Available in PDF, EPUB and Kindle. Book excerpt: Accounting Information Systems provides a comprehensive knowledgebase of the systems that generate, evaluate, summarize, and report accounting information. Balancing technical concepts and student comprehension, this textbook introduces only the most-necessary technology in a clear and accessible style. The text focuses on business processes and accounting and IT controls, and includes discussion of relevant aspects of ethics and corporate governance. Relatable real-world examples and abundant end-of-chapter resources reinforce Accounting Information Systems (AIS) concepts and their use in day-to-day operation. Now in its fourth edition, this popular textbook explains IT controls using the AICPA Trust Services Principles framework—a comprehensive yet easy-to-understand framework of IT controls—and allows for incorporating hands-on learning to complement theoretical concepts. A full set of pedagogical features enables students to easily comprehend the material, understand data flow diagrams and document flowcharts, discuss case studies and examples, and successfully answer end-of-chapter questions. The book’s focus on ease of use, and its straightforward presentation of business processes and related controls, make it an ideal primary text for business or accounting students in AIS courses.
Book Synopsis The Impact of Internal Control Mechanism on the Operational Efficiency of Small and Medium Scale Enterprises in Nigeria by : Adewale Adegoke Alawiye-Adams
Download or read book The Impact of Internal Control Mechanism on the Operational Efficiency of Small and Medium Scale Enterprises in Nigeria written by Adewale Adegoke Alawiye-Adams and published by . This book was released on 2014 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt: It is pertinent to understand the impact of Internal Control Mechanism on the Operational Efficiency of Small and Medium Scale Enterprises of any Country. The Internal Control Mechanism refers to all the policies and procedures adopted by the management of an entity to assist in achieving management objectives as much as practicable, the orderly and efficient conduct of its businesses including adherence to its own rules and regulations and policies. In other words, Internal control system implies that all expenditures are properly authorized; ensure that all incomes and revenues to which the company is entitled are properly documented. Small and Medium Scale Enterprises is defined by the Nigerian Central Bank as those whose capital investment does not exceed N 5 million including land and working capital or whose turnover are not more than N 25 million annually.Data were collected and analyzed using the Chi Square Analysis. The result of the study shows that if the Internal Control Mechanism of Small and Medium Scale Industries functions effectively it must have great impact on the operations and growth of Small and Medium Scale Industries. And it also shows that management of Small and Medium Sized Industries should have various measures in place of improving and strengthening their internal control system.On the strength of these evidences, this paper recommends that Small and Medium sized enterprises should endeavor to send its workers on training so as to improve the workers skill and broaden their knowledge thereby improving their internal control system. Also, access to assets should be limited to only authorized persons and the company should try as much as possible to always reconcile its bank statements promptly so that any error can be rectified immediately.
Book Synopsis Principles of Internal Control by : Alan Trenerry
Download or read book Principles of Internal Control written by Alan Trenerry and published by UNSW Press. This book was released on 1999 with total page 374 pages. Available in PDF, EPUB and Kindle. Book excerpt: An accounting textbook that describes the objectives and practices of internal control.
Download or read book Internal Control written by Olof Arwinge and published by Springer Science & Business Media. This book was released on 2012-11-07 with total page 205 pages. Available in PDF, EPUB and Kindle. Book excerpt: The concept of internal control has developed along with audit practice. As demands have been made for greater accountability in corporate governance, the significance of internal control systems in companies has increased. Traditionally internal control has had a fairly direct relationship to financial reporting quality but wider approaches to internal control have expanded those boundaries much further. Stakeholders are increasingly concerned with the effectiveness of internal controls, and disclosure requirements are making firms to go public with regard to their internal control systems. From a design perspective, current research suggests that internal control designs are contingent upon variables such as company strategies, risk appetite, regulatory characteristics, and organizational size. Also there is much to learn about internal control quality, and the way internal control quality is associated with overall corporate governance quality. This book fills that gap.
Book Synopsis Effective Operations and Performance Management by : Bloomsbury Publishing
Download or read book Effective Operations and Performance Management written by Bloomsbury Publishing and published by A&C Black. This book was released on 2010-10-01 with total page 460 pages. Available in PDF, EPUB and Kindle. Book excerpt: Effective Operations and Performance Management is a multi-author volume, written by practitioners and academics in their respective fields of expertise including Andrew Mayo, Subir Chowdhur, Andrew Cox and Leslie L. Kossoff providing coverage in all aspects of operations and performance within a company. The book addresses measuring and managing operational issues, providing you with a solid platform from which to develop strategies and grow your business. It includes over 30 chapters covering the management of operations and performance. It offers you a rich vein of thought leadership and best practice and practical step-by-step guides on methods to improve operational robustness and measure performance. There are a range of Checklists including Performing a Skills Gap Analysis, The Triple Bottom Line, Using and Understanding Financial Ratios for Analysis, Applying Stress-Testing to Business Continuity Management plus much more...
Book Synopsis Internal Control of Fixed Assets by : Alfred M. King
Download or read book Internal Control of Fixed Assets written by Alfred M. King and published by John Wiley & Sons. This book was released on 2011-01-31 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: For many companies, fixed assets represent the largest single aspect of their financial statement, yet rarely do they command time proportionate to the magnitude of the investment. This is the first book to show how to implement internal controls for fixed assets. It is a step-by-step guide for developing and maintaining a functioning internal control system that will withstand the closest scrutiny from independent public accountants and the PCAOB. With up-to-the-minute discussion of IFRS and GAAP, this is a must-have guide for controllers, auditors, and CFOs.
Book Synopsis Internal Control by : K. H. Spencer Pickett
Download or read book Internal Control written by K. H. Spencer Pickett and published by John Wiley & Sons. This book was released on 2002-03-14 with total page 385 pages. Available in PDF, EPUB and Kindle. Book excerpt: An entertaining introduction to a very serious and complex issue Internal control is no longer the exclusive domain of highly trained accountants on the internal auditing staff. Corporate boards, CEOs, and employees at virtually every level are now seen as responsible for designing, implementing, and monitoring these controls; few, however, have the training and background needed to fulfill this complex responsibility. Through the entertaining story of a manager's visit to the Caribbean, Internal Control: A Manager's Journey illustrates how control can be managed throughout an organization. In each chapter, Operations Manager Bill Reynolds learns the key concepts and techniques of internal control and discovers how to design, document, install, and monitor an innovative, efficient internal control policy. He discovers that effective internal control is based on risk assessment and should encourage innovation. He also learns important techniques for preventing, detecting, and correcting fraud. This unconventional, extraordinarily useful guide is peppered with practical examples and workable solutions that can be used to institute improved control and accountability in any company of any size. It's the ultimate resource for CEOs, CFOs, operations managers, and anyone involved in the design, implementation, review, or reporting of internal controls.
Book Synopsis Monitoring Internal Control Systems and IT by : ISACA
Download or read book Monitoring Internal Control Systems and IT written by ISACA and published by ISACA. This book was released on 2010 with total page 124 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Effect of Operational Control Quality on Operational Efficiency and Cost of Capital by : Sasan Saiy
Download or read book The Effect of Operational Control Quality on Operational Efficiency and Cost of Capital written by Sasan Saiy and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Recent high profile and costly operational risk events have focused the attention of bank managers and regulators on operational risk management practices since the early 2000s. This led the Basel II Accord to recognize operational risk as a separate risk. In this study, I examine whether operational control quality is associated with operational efficiency and the costs of debt and equity capital for a large sample of U.S. bank holding companies. I measure banksâ operational control quality using two measures: (1) the incidence of actual operational risk events as an ex-post observable proxy for weaknesses in operational controls, and (2) an index-based measure of operational risk management quality (ORMQ) as an ex-ante proxy, created via textual analyses of Form 10-K filings. First, I find that operational efficiency, derived from a frontier analysis, is significantly higher among banks with higher operational control quality. Second, I find that banks with stronger operational controls are associated with lower costs of debt and equity capital. These results are incremental to controlling for the quality of the internal control over financial reporting. Furthermore, in the changes analyses, I find that remediating firms exhibit higher operational efficiency and lower cost of capital estimates, while non-remediating banks are associated with no significant change in their operational efficiency estimate but exhibit a significant higher cost of capital. I also examine the net effect of operational control quality on equity valuation and find a positive association between operational control quality and equity prices. In addition, I observe that banks with higher operational control quality exhibit higher earnings persistence. Overall, the findings of this thesis suggest that operational controls have significant effects on banksâ operations and cost of capital, and that the operational risk information in banksâ Form 10-K filings is credible.
Download or read book Bar Code Technology written by and published by . This book was released on 1982 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt:
