the runershop - 2272 Words

Case 11.1 Instructional Notes The Runners Shop: Litigation Support Review of Audit Documentation for Notes Payable Mark S. Beasley, Frank A. Buckless, Steven M. Glover, Douglas F. Prawitt ï€   INSTRUCTIONAL OBJECTIVES To provide hands-on experience with evaluating audit documentation. To illustrate the auditor’s objectives and purposes when documenting the audit work performed. To highlight the care required by auditors when documenting audit work. To illustrate the linkage of management assertions to audit evidence in the context of auditing Notes Payable. KEY FACTS The Runners Shop (TRS) was a family owned business founded seventeen years ago. TRS sold athletic footwear and related products for runners. TRS†¦show more content†¦The cooperative learning activity of Homework Review can be used for the â€Å"out-of-class† assignment. Students meet in small groups to compare and discuss deficiencies they identified by schedule. After students have had a few minutes to compare and discuss their answers the instructor can randomly call on individual students to identify deficiencies they noted. PROFESSIONAL STANDARDS Relevant professional standards for this assignment are AU Section 230 â€Å"Due Care in the Performance of Work,† AU Section 326 â€Å"Evidential Matter,† AU Section 330 â€Å"The Confirmation Process,† and AU Section 339 â€Å"Audit Documentation.† SUGGESTED SOLUTION 1. Describe the purposes of audit documentation and explain why each purpose is important. Properly prepared audit documentation should provide 1) a basis for planning the audit, 2) a record of evidence collected and results of tests performed on the evidence, 3) a basis for determining the appropriate audit report and 4) a basis for review by supervisors of the work performed. Achievement of these four purposes aids the auditor in providing reasonable assurance that the audit was conducted in accordance with the auditing standards. 2. Review Green and Brown, LLP’s audit documentation guidelines and explain why an audit firm would want to include each of the listed items in its audit documentation. The guidelines provided provide the following benefits: Title - Having a proper title helps

Intrinsic value of corporations Free Essays

The Legalization of Marijuana Pot, grass, weed, hash, and ganja or Just a few of over 200 slang terms used to describe one very important issue in today’s society. One of the biggest topics up for debate, which has risen In popularity within the last couple years, is the discussion on the legalization of marijuana. There are several affiliated areas discussed within this essay exposing the arguments, stakeholders, and reasoning for why marijuana should or should not be legalized. We will write a custom essay sample on Intrinsic value of corporations or any similar topic only for you Order Now Between the state and federal law contradictions, he issue of legalization of marijuana for pharmaceutical or recreational use in the United States affects not only the policy makers and medicinal patients, but also the adolescents and regular recreational users of today’s society. By observing a brief history behind what Marijuana actually Is, Including all of the side-effects, voting citizens and politicians can grasp a better understanding of how to approach this issue by first understanding the background behind it. Procom. Org is a nonprofit organization that is dedicated solely to the history and background of marijuana to inform anyone wanting more knowledge about this Issue. To begin, Marijuana comes from the dried blossom tops of cannabis static plants, one of three plants within the genius Cannabis. It consists of chemical compounds known as cannabises, which produce psychoactive and physiologically effects on the user. The most active cannabis compound Is delta-9-thermodynamically, or otherwise referred to as TECH. TECH is absorbed rapidly into the blood stream after inhaling or ingesting. The short-term psychological and physiological effects of this chemical compound are felt within minutes. Slow reaction time, rapid heart rate, increased blood pressure, Armenia, euphoria, and an increase in appetite are some of the many effects of TECH. After about three to four hours, these effects wear off; however the chemical compound of TECH remains for up to six months within the body. Procom. Org breaks down the study of cannabis for medicinal and recreational purposes for nearly 5,000 years using an easy to understand timeline. Many Americans have no knowledge of the path marijuana has made on our history or why it was even legal. Without the knowledge of why it became illegal, how can one make an informed decision in our Democracy. Marijuana was brought to the United States y the Spanish where It became a major commercial crop unregulated by the United States government and was a common Ingredient I n medicines. It was commonly prescribed to patients for minor medical issues such as nausea or labor pains. In the early twentieth century, marijuana began to be used for recreational purposes. During the sass’s, the U. S. Federal Bureau of Narcotics, renamed the Bureau of Narcotics and Dangerous Drugs, launched a prohibition campaign using the association of marijuana with anti-social behavior and violence to influence United States society towards the banning of this drug. They tagged marijuana as a dangerous substances. In the sass’s, it became widely used as a symbol of rebellion against authority among college students and the so-called â€Å"hippie† generation. Finally, in 1970, The Controlled Substances Act was passed federally making all production and use of marijuana illegal in the United States due to the high abuse with no acknowledged medical use of this classified schedule I drug. The banning of marijuana is evidence that perhaps legalization is not the best idea. The possible ability of it being a â€Å"gateway’ drug affects children and their future with drug abuse. Promoting one drug could lead to possibly promoting many more. This aspect to ensure future citizens of America’s health may indeed by a right path; however, it could be doing more harm than good. With this said, this is why voting citizens and policy makers need to take into account anything there is to know about the issue before making decisions that could affect future society. Today, marijuana production and use remains federally illegal; however, recently, in the last fifteen years, state legislatures in some states are becoming more lenient on the medicinal use of marijuana. In two particular states, Colorado and Washington, recreational use of marijuana has been legalized as well. According to the introduction of Vanderbilt Law Review, â€Å"Congress has the ability to overpower a state’s decision when they prohibit a permissible federal law; however, when a state discriminative a prohibited federal law, Congress does not have the ability to overpower them, but they can sway them to see in their favor† (Mikes, â€Å"This two-sided law had been widely overlooked by states until the passing of Amendment 64 in Colorado and Washington. Not only has it conflicted with federal laws, but Congress s trying to keep these states from being able to get licenses to mass produce marijuana and tax it by implementing more detailed federal policies. The White House released several reasons, including effects on adolescents, behind changing their opposition on legalizing marijuana not only for recreational use, but for medicinal use also. There is evidence that the use of medical marijuana to treat certain pain, nausea, and appetite stimulation caused by such illnesses as multiple sclerosis, cancer and AIDS can relieve or ease the patient of these symptoms temporary and has been suggested that the toxicity of this drug is less harmful then mom of the drugs currently prescribed for these particular illnesses. The Positive Health cohort study consisting of people with HIVE/AIDS between the states of Victoria and New South Wales, Australia concluded that â€Å"Therapeutic use of cannabises, whether through marijuana or synthetic oral TECH, deserves further consideration to clarify the many complex issues related to both the health of people using it and the social context in which PLAYA and health workers are expected to operate† (Kappa, et al. â€Å"Marijuana as therapy for people living with HIVE/AIDS: Social and health aspects†). The inhalation of marijuana can damage the brain, heart, lungs, and immune system due to the ability of smoke to cause cancer within the body. An alternative solution that is currently being explored is oral TECH or synthetic cannabises, such as traditional and enabling. It is administered through capsules or inhalants; however, as stated in Kappa’s article, since natural TECH on the human brain and the immune system is not fully understood, the effects of oral TECH cannot be fully predicted (Kappa, et al. Marijuana as therapy for people living with HIVE Since it is unclear rather therapeutic marijuana use does more harm than good, here are other aspects to consider on this issue. Studies show that adolescent marijuana usage for children under the age of sixteen who are still developing their cognitive and social skills are at a high risk of developing ADSM-IV clinical symptoms, mental health disorders, later on in life. A study done by the institutional review boards of wake Forest University Health Sciences and The University of Texas Health Science Center at San Antonio showed that psychological impairments â€Å"may relate to these individuals’ increased risk for future psychiatric conditions, including psychotic ND affective disorders as well as more severe substance use disorders† (Achaeans, et al. , â€Å"Impulsively, attention, memory, and decision-making among adolescent marijuana users†). Considering all the negative effects on an adolescent’s brain, research for recreational purposes is viewed by many as unnecessary. The argument is to consider the growing minds of our children so we can have a productive society in the future. Negative effects found on adolescents’ causes disapproval from the voters and can negativity affect the medical research by keeping it completely illegal. Addiction to marijuana arises more often today in adolescents and adults due to the more relaxed attitudes of the risks involved as stated in â€Å"Marijuana Legalization. As stated in Cohesion’s analysis, an article published by Cambridge University Press mentions that marijuana addiction is not as recognized because typically it does not ruin one’s health or life; however, addiction to a scheduled class 1 substance, rather or not it is bad for you, is still an addiction that needs to be treated (Achaeans, et al. , â€Å"Impulsively, attention, memory, and deci sion-making among adolescent marijuana seers†). Marijuana, within the last couple years, has become more accessible to the general public than ever before causing increasing awareness of the topic of legalizing marijuana. It has been proven, through multiple tests, analyses, and researches, that marijuana does indeed have specific reasons for recreational use. There are those that believe that no good can come out of legalizing marijuana and therefore strongly advocate their position on banning the notion. Drug abuse and the harm it inflicts on others is a popular topic among marijuana controversies. In order o bring awareness to the risks involved when using marijuana â€Å"the Office of National Drug Control Policy is working to reduce the use of marijuana and other illicit drugs through development of strategies that fully integrate the principles of prevention, treatment, and recovery†¦ † (â€Å"Marijuana Legalization†, The White House Washington). Not only are there health risks involved in consuming marijuana, other factors that would occur because of ratification include: Increase of use because of lowered price, tax revenue would be offset by higher social costs, and it would further burden the justice system. Taking into account all the facts and medical uses for cannabis, an informed voter can finally make a decision based on logic instead of opinions. The development of the legalization of marijuana is not Just about deciding between being for or against it. It is more or less about being educated and aware of the multiple arguments brought into the debate on this issue that takes into account the effects on adolescents, policy makers, and medicinal or recreational users. As individuals we are given the choice to decide where we stand on the issue. Our own personal choices and decisions, in the end, have the ultimate decision on whether or rugs’! In our history we can only see an ongoing conflict amongst various drug users – and producers† (Sebastian Marigold). How to cite Intrinsic value of corporations, Papers

Salvador Dali- the Persistence of Memory free essay sample

Dali lived in the shadow of his brother all of his life. When he was five he was taken to his brothers grave and told by his parents that he was his brothers reincarnation, a concept which Dali came to believe. Dali said, We resembled each other like two drops of water, but we had different reflections. â€Å"He was probably a first version of myself but conceived too much in the absolute. Images of Dali’s long-dead brother would reappear embedded in numerous of Dali’s later art works and this event really impacted the artist he became. Dali’s first step towards art began when he joined the San Fernando Academy of Fine Art in Madrid. It is here that his passion of art started. At the age of 21 years, Dali’s talent took an boots of confident when he presented his first one-man show in Barcelona. This inspired him so much that it led to him being a recognised as an international artist. We will write a custom essay sample on Salvador Dali- the Persistence of Memory or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Three years later, he attended the annual Carnegie International Exhibition in Pittsburgh and presented amazing detailed pieces of art. Following this was another one-man show in the year 1929. Dali had been leaving his artistic life as an impressionist all along this period. However, after the 1929 Paris exhibition, he transformed his life into surrealist. As a surrealist, Dali was working with people of distinguished experience. This included artist Dadaist Andre Breton, who was the surrealism artist leader at that time. Dali was becoming perfect and very detailed in every single one of his masterpieces, through persistence, hard work and his extraordinary talent, Dali became the surrealism artist leader from then on. In 1931 Dali painted probably the most well-known surrealist art works known to man The Persistence of Memory. In this painting we are in front of a surrealistic landscape. It appears to be beach at dusk. The first central item is a strange figure; a soft head with an enormous nose a crease where you would assume would be an eye. This figure lacks a mouth; Its neck is lost in the dark as it rests lazily slept over the dark sand. We see this figure with its eye closed, with enormous eyelashes this object is left to the viewer to assume what this object is. The second central item is clocks/pocket watches that have appeared to be melted over different objects leaving a sense of lost time to the painting. The first clock/pocket watch is found drooping over the strange figure being consumed by the darkness. The other two clocks: The one that is smaller is closed and has a swarm of ants crowds together on the lid of the watch; the other enormous clock is blue and soft looking that is again melted drooping over an object in this case it is a block that would be assumed to be a table. This watch has a single fly on the face of the watch; the clock looks like it is slipping off the edge of the table. A broken tree is brought into the painting; this tree with a single branch without leaves on it sits the third clock. To the left on which it seems a rectangular wooden table although it sits on the sand incomplete. The third central item we see is an ocean bay illuminated strongly by the yellow and blue sky below this is a rocky cliff that slowly graduates down into a glass like reflective clear ocean water. A small stone in the right hand top corner projects its shade on the sand of the beach this stone is left the sea confused with the sandy desert and the reflections in the water. There is another stone in the top right hand corner just below the incomplete table that gives even more depth and shadowing to the image. The clocks are the most prominent design In Dali’s art work the persistence of memory; the drooping pocket watches possibly suggest the irrelevance of time during sleep. In other words, when we are asleep, or not conscious it is like time does not continue, only memories do and feelings do. This distortion of time can be easily seen by just about anyone who attempts to think about their own dreams and thoughts. The Persistence of Memory may have many interpretations. Some are more meaningful, others remain mysterious. Perhaps the images of the melting clocks are nothing more than ideas influenced by the Camembert cheese left for too long of a period of time on the table on a warm sunny day (as Dali had previously described his inspiration for this painting). But Dali would often make up ridiculous explanations for his paintings to purposely mislead people. But some peoples view on Dali’s painting is nothing more than a collection of ideas that are to do with the interpretation of everyday objects dreams and nightmares and the perception of reality, time, birth and death. Dali sometimes referred to his paintings as hand-painted dream photographs and The Persistence of Memory can certainly be characterized as that. Dalis paintings are psychologically deep and mentally thought out. Dali is a painter that will be remembered in history and his paintings will live on for generations to come and thousands more will admire his masterpieces.