Although there are lot of reasons I should get this scholarship, I will present the ten most relevant reasons that qualify me to earn this scholarship. First, I need to reduce the cost associated with my study. One thing is certain: if I get only one scholarship, it can help me pay for the cost to learn at college. Second, It will help me get an education. This scholarship will help me get an education without worrying how I will repay it. Third, it will help me pay the expenses associated with my studies. I should get this scholarship because I can’t pay out of my pocket all the cost associated with my education.
Fourth, it can help me go to any school I want to go to. This scholarship will give me the opportunity to choose between several schools. fifth, it will make my family happy because they don’t have to pay for it. Sixth, it will make my life easier financially. I will be able to focus on my studies instead of worrying about the finances. Seventh, it will avoid me to pay high tuitions. I will pay less for those big tuition that people have to pay if they don’t get any scholarship. eighth, Getting this scholarship will look good on my resume.
In addition, I should get this scholarship because it will make my learning experience happier. Finally, this scholarship will motivate me, it will help me work hard in order to deserve it. a. Fraud is an intentional misrepresentation of facts, like Misappropriation of assets. In order to commit fraud a person has to have motivation, opportunity, and rationalization for committing the fraud. PCAOB AU 316 describes fraud as follows, “Fraud is a broad legal concept and auditors do not make legal determinations of whether fraud has occurred.
The Term Paper on Management of Primary and Secondary Education in Nigeria
Introduction There is no gainsaying the fact that education is very vital to the pace of social, political and economic development of any nation. This is why most nations of the world strive to devote a sizeable proportion of their Gross National Income to develop the educational sector. In Nigeria, between 7. 6% and 9. 9% of our annual expenditure is devoted to education. Management of primary ...
Rather, the auditor’s interest specifically relates to acts that result in a material misstatement of the financial statements. The primary factor that distinguishes fraud from error is whether the underlying action that results in the misstatement of the financial statements is intentional or unintentional. For purposes of the section, fraud is an intentional act that results in a material misstatement in financial statements that are the subject of an audit.
Two types of misstatement can occur related to fraud, misstatement of fraudulent financial reporting and misstatements arising from misappropriation of assets. PCAOB AU 316 describes the two types of misstatements as follows, “Misstatements arising from fraudulent financial reporting are intentional misstatements or omissions of amounts or disclosures in financial statements designed to deceive financial statement users where the effect causes the financial statements not to be presented, in all material respects, in conformity with generally accepted accounting principles (GAAP).
”(AU 316. 06)
Misstatements from misappropriation of assets is described as follows, “Misstatements arising from misappropriation of assets (sometimes referred to as theft or defalcation) involve the theft of an entity’s assets where the effect of the theft causes the financial statements not to be presented, in all material respects, in conformity with GAAP. Misappropriation of assets can be accomplished in various ways, including embezzling receipts, stealing assets, or causing an entity to pay for goods or services that have not been received.
The Essay on Are financial accounting statements useful to investors?
1.1 IntroductionFinancial accounting statements are summaries of monetary data about an enterprise and are used in an attempt to help make informed decisions in the present and future.Financial statements portray the effects of transactions and other events by grouping them into broad classes (or elements) according to their economic characteristics.The three basic financial statements are the ...
Illegal acts is the violation of laws and government regulations, like not following environmental safety rules. There are two types of illegal acts, direct and indirect. Direct illegal acts have an effect on financial statements, like not paying taxes which increases net income. Indirect illegal acts doesn’t have a direct effect on the financial statements, like not following the rules of the EPA and receiving a fine.
PCAOB AU 317 describes illegal acts as “The term illegal acts, for purposes of this section, refers to violations of laws or governmental regulations. Illegal acts by clients are acts attributable to the entity whose financial statements are under audit or acts by management or employees acting on behalf of the entity. Illegal acts by clients do not include personal misconduct by the entity’s personnel unrelated to their business activities. ”(AU 317. 02) b.
Information and evidence has to be gathered in order to reach a conclusion on whether Vinand Petroleum is committing fraud/illegal acts in its contract awarding process. Information like previous contract awarding processes documentation, reason for not winning the bid according to the losing company, thorough study of Vinand Petroleum’s Contract Policy Manuel, match reason with proof for fired employees in the past 10 years, and competence of regularly awarded companies.
