Analysis Of George Washington s President Of The United...

When George Washington was elected President in 1789 by members of the fledgling United States of America, he was setting into motion a tradition that has stood the test of over 225 years - the presidential election. Even as the United States has seen dozens of wars, made hundreds of scientific advances, and selected thousands of politicians to seats everywhere from small town councils to Congress, the principles of the election have remained the same; the people band together to determine who will best protect their interests at home and assure that the US will always remain on top in foreign policy. Oftentimes, this is found to be a difficult decision, as public opinion is constantly wavering. One sees this in action particularly during the 1992 election - a battle of wills between Bill Clinton, George H.W. Bush, and Ross Perot; complete with lead changes, major vote swings, and Perot’s unprecedented initial success - ultimately a false alarm to the bipartisan establishment. Undoubtedly, the last 80 years have brought the biggest change to the election process - polling. Beginning with the Gallup poll in 1936, the industry has become a titanic business, growing unregulated by the United States government. Frequently, polls have come under fire for their inaccuracy, or for their role in blocking the Democratic process (the 2000 and 2004 elections come to mind). Nonetheless, the 1992 election was not notable because of alleged bias, but because of what the polls said aboutShow MoreRelatedGeorge Washington s Farewell Address Essay1258 Words   |  6 PagesChase Williams US History to 1865 Dr. Lisa Crutchfield October 14, 2015 George Washington s Farewell Address, Primary Source Analysis George Washington’s Presidential Farewell Address consisted of three critical elements that were considered vital for the functional survival of the country that had just won its independence. 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Pia Financial Analysis 2013 Year Free Essays

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Process of Sales of Manufacturing Goods †MyAssignmenthelp.com

Question: Discuss about the Process of Sales of Manufacturing Goods. Answer: Description of the Issue The process of sales of manufacturing goods to the staffs is processes outside theaccounting system of the company. In addition, proceed from the sales are used for the social and recreational activities of the staffs. Involvement of Fundamental Ethical Principles According to the conceptual framework of ethical accounting, in case anaccounting identifies organizationalaccounting operations not complying with the ethical principles, he/she needs to evaluate the level of threat so that they can be bring down to an acceptable level with the help of proper safeguards (ifac.org 2017). The provided case study states that the production manager allows the sales processes that are not processes with the help fair and true accounting policies. Thus, in this case, the self-interest threat of the accountants is involved. It can be seen that the accountants of Osmo has not been honest and straightforward. Thus, it can be seen that there is a violation of the principle of integrity. After that, it can be seen that the proceeds from the sales are use for social and recreational activities of the staffs instead of using it for the expansion and growth of the company. This process can be considered as unauthorized practice (ifac.org 2017). From this incident , it is clear that there is biasness in the decision-making process of the company. On the other hand, the objectivity of the total accounting process has not been maintained. A major fact is that the accountant of Osmo has not been professional to their works. Thus, it is clear that there is a violation of the accounting principles of objectivity and professional competence. It can also be seen that the accountants of Osmo has not included the necessary financial information in the financial statements of the company. As a result of this, the financial statements of Osmo fails to reflect the true and fair financial position of the company. Hence, on the overall basis, it can be seen that the accountant of the company has not behaved as a true accounting professional as the accountant has not complied with the rules and regulations of accounting principles. For this reason, it can be seen that there has been the breach of the accounting principle of professional behavior. Considerations The first consideration is process of sales value outside the accounting system of the company. As per the conceptual framework of accounting, it is required for every business organization to correctly record all accounting and financial information so that the financial statements of the companies show the actual financial position (Zadek, Evans Pruzan, 2013). This is a major material fact for Osmo. The next consideration is the use of the proceeds of sale for social and recreational activities of the staffs. It needs to be mentioned that the sales proceeds need to be used for the growth and expansion of the company instead of entertainment activities. These are the major considerations from the material facts of Osmo. It needs to be mentioned that the company is evading tax by not showing the actual amount of sales in the financial statements. Possible Courses of Action It can be seen that the annual revenue, asset value and employee base of Osmo has crossed the threshold limit of a small company. Thus, there is a requirement of conducting statutory audit of the accounts of Osmo. This can be considered as a major course of action for the issues (Thomas, 2012). It is clear that the sales accounts of Osmo have not been maintained as per the principle of accounting framework. Thus, it is required to establish effective and correct accounting system for various accounting processes of Osmo. This is another major course of action (Bebbington, Unerman O'Dwyer, 2014). It is required for the accountants of Osmo to consider all financial and accounting information that can have material impact on the financial position of the company. It will help in bringing integrity in the accounting works of the company. The implementation of key fundamental principles of accounting is required in the company. This implementation will make the accountants work with integrity and in an honest way. References (2017).Ifac.org. Retrieved 13 November 2017, from https://www.ifac.org/system/files/publications/files/ifac-code-of-ethics-for.pdf Bebbington, J., Unerman, J., O'Dwyer, B. (Eds.). (2014).Sustainability accounting and accountability. Routledge. DRURY, C. M. (2013).Management and cost accounting. Springer. Thomas, S. (2012). Ethics and accounting education.Issues in Accounting Education,27(2), 399-418. Zadek, S., Evans, R., Pruzan, P. (2013).Building corporate accountability: Emerging practice in social and ethical accounting and auditing. Routledge.