Water Shortages in the World

Introduction Water is a significant resource in human life. This is mainly because it helps to sustain life. It is also important to note that water supports plants, animals and other living organisms. Its supply is therefore necessary at all times. The world is home to about six billion people.Advertising We will write a custom essay sample on Water Shortages in the World specifically for you for only $16.05 $11/page Learn More However, about two billion of which face constant water shortage. Consequently, a number of researches have been conducted to establish its availability throughout the world. As a result, it was found that water crisis is a common problem in developing countries. This paper will try to establish differences in water shortage between developed and developing worlds (Resnick 1). Availability in developed countries Developed countries have few instances of water shortage. In fact, floods have been more prevalent in these regions tha n water shortage. According to statistics from World Bank, over 80 countries face water shortage. Moreover, it records that over two billion people lack clean water. However, developed countries like the U.S. rarely face water shortage issues. In fact, they have well organized water and sewage agencies that ensure every state is well supplied with water. Their only problems come in inter state feuds concerning water, accidental occurrence like oil spillage and flooding. These are sometimes unexpected although the country has put in place management strategies that forecast and attend to such issues. Even developed countries in deserts have water because they invest in water conservation and treatment. This is witnessed in Israel and Libya, as well as Australia. Nonetheless, it is important to note that concerns are rising even in developed countries on water shortage. This is expected to escalate in the next century (Resnick 1). Availability in developing countries Developing countr ies face several issues in relation to water. For instance, countries that have water face difficulties in managing its supply. Moreover, provision of clean water is a challenge to these nations. To make matters worse, countries that experience water shortage suffer from accelerating desertification. This, combined with their inability to conserve and manage available water has led to massive loss of life in affected areas. For instance, countries in the horn of Africa face recurrent famine each year and nothing is usually done to prevent such occurrences from happening. Kenya for example has faced massive loss of lives due to famine in the North Eastern region.Advertising Looking for essay on environmental studies? Let's see if we can help you! Get your first paper with 15% OFF Learn More Interestingly, response to such devastating hazards is usually slow and inadequate. Instead of solving the issue, they usually provide short-term solutions. This has continued to des troy lives in developing countries, which languish in poverty, violence and corruption, among others (Resnick 1). Differences Several differences exist between water shortage in developing and developed countries. Firstly, it is important to note that all countries are dispersed randomly in the world. Therefore, it would by unrealistic to say that developed worlds chose areas where water is available in abundance. In essence, developed countries have strategic policies and resources that ensure clean water is availed to every household. On the other hand, developing countries lack skills, resources and policies that can ensure water is availed to every household. Actually, water shortage in crucial areas like health centers and schools is quite prevalent in developing countries. While water shortages in developed countries are resolved quickly, those of developing countries result in national disasters. While developed world take full initiative in conserving water catchment areas, developing countries put little effort. Management of water supply in developing countries is poor as compared to that of developed world. In addition, pollution of water in developing countries is quite prevalent as compared to that of developed world (Resnick 1). Challenges of maintaining fresh water resources Scientists are estimating a global water crisis in the next century. This is due to several reasons. Firstly, global warming is causing climate change, which has affected the whole world. This is concerning weather prediction for planning purposes and increasing desertification, which increase disasters such as famine and drought. Besides, change in climate affects all parts of the world, which therefore experience unpredictable weather. Other causes of water shortage include pollution of rivers and lakes, deforestation and poor planning on water conservation methods, among others. Countries therefore face great challenges in maintaining clean and fresh water for consumption . One of the challenges includes water feuds between bordering countries like Israel and Syria. Egypt has also had problems with its neighbors over river Nile. Moreover, water agencies in poor countries are facing an uphill task in supplying clean water for consumption due to increased desertification, corruption, poor planning and increasing pollution (Resnick 1).Advertising We will write a custom essay sample on Water Shortages in the World specifically for you for only $16.05 $11/page Learn More How rich countries deal with scarcity Americans use a lot of water; in fact, statistics from CBS News averaged it at 150 gallons on a daily basis. This is far more than the British who use about 40 gallons daily. At this rate and expected increase in population to 9 billion, developed countries must find ways of addressing global water shortage. Interestingly, more water feuds between States have been witnessed in recent times. For instance, Georgia has had a court issues with Atlanta concerning Lake Lanier. In addition, Las Vegas’ only source of water, Lake Mead is receding. Developed countries have intensified water conservation methods. For instance, Israel recycles sewage water for drinking. Moreover, these countries are working to conserve environment in order to reduce water pollution. Another activity that takes place is effective use of water (â€Å"Water Shortage!† 1). How poor countries deal with scarcity Poor countries have an uphill task of providing clean and fresh water to their ever-increasing population. In addition, they face the risk of being overwhelmed by occurrences of water shortage and sanitation. Their disaster preparedness has been wanting. This has led to massive loss of lives as in Northern Kenya and Uganda, among other Sub-Saharan States. However, most agencies dealing with water supply and management are trying to explore alternative water sources such as ground and rainwater, among others. For instance, Kenya’s Ministry of water has drilled several boreholes in its Northern region to help salvage people and animals from famine. Moreover, they have taken the initiative of curbing pollution of rivers and lakes by industrial wastes. They have also stepped up efforts to promote environmental conservation through tree planting, investing on renewable energy and safe disposal of waste (â€Å"Global Water Shortage Looms In New Century† 1). Reasons for water shortage Availability of fresh water is becoming an issue even to developed nations. This is mainly due to the following reasons. Demand for water is increasing with increasing population and living standards. This is expected to exceed supply when population reaches 9 billion. Global warming has led to unpredictable weather; this change in climate is causing desertification in various parts of the world like China, Texas and sub-Saharan Africa.Advertising Looking for essay on environmental studies? Let's see if we can help you! Get your first paper with 15% OFF Learn More Pollution of rivers and lakes by industrial wastes and human activities is another reason for shortage of water. Neglect of water catchment areas through deforestation and mining has also caused water shortage. In addition, poor management and usage of water has decreased its supply (Kaminsky 1). Possible solutions Firstly, the world needs to be educated on wise usage of water. This will help in water conservation. Moreover, Industrial wastes should be treated before it is drained into rivers or lakes. This will help to conserve aquatic life as well as improve water and environmental conservation. Environmental conservation is also vital in reducing global warming, which affects climate patterns. This will reduce the number of natural calamities such as drought and famine. Proper management of water supply should be ensured to avoid spillage and contamination, which may infect people with water borne diseases. Furthermore, efforts should be made to find alternative sources of water like ground water, rainwater, among others (Resnick 1). Conclusion Water is very vital in human life. It is also a basic requirement for both plants and animals. Its conservation is therefore necessary for continued living. It has been noted in the recent past that water shortage is encroaching this world. This is mainly because of global warming, poor management, wastage, drought, pollution and deforestation, among others. Indications from statistics show that global water shortage is looming. It is therefore very essential that relevant stakeholders carry out necessary tasks to minimize its effects on life. This can only be done through collective initiative and participation from everyone in environmental conservation, among others (Ayre 1). Works Cited â€Å"Global Water Shortage Looms In New Century†. ag.arizona.edu. 6 Dec. 2011. Web. â€Å"Water Shortage!† theeconomiccollapseblog.com. TEC, 22 July 2010. Web. Ayre, Maggie. Metropolis strives to meet its thirst. BB C News. BBC News, 3 May 2007. Web. Kaminsky, Jay. Supply and Demand: Who’s gonna pay the pumper? whyfiles.org. Why Files, 22 Dec. 2006. Web. Resnick, Mitchel, and Silverman Brian. A global Shortage: Not all wet. whyfiles.org. Why Files, 22 Dec. 2006. Web. This essay on Water Shortages in the World was written and submitted by user Galilea B. to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. 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Free Essays on Serbs In Croatia

Media Review: Documentary; Death of Nation: Yugoslavia Serbs in Croatia (Ethnical and Cultural Problem) Introduction Modern societies are mostly stratified through the aspects of religion, race and ethnicity. Most of us would immediately associate terms of biological traits as the most important factors that are used for ethnic and nation identification. One of the main tasks of this paper is to explain and to support notion that ethnicity, nationality are and always will be socially and culturally constructed. It is important to say that question of political, economical and ideological power will also be included in the discussion as very important element that takes and gives social space to the development of nations and ethnic groups. Education, religion, language and history are elements that are used and exercised through the power and they can be recognize as sources of the power on their own. Following the anthropological definition on ethnicity; main factors that symbolize and represent ethnicity are religious belief, language and culture. BBC documentary â€Å"Death of Yugoslavia†, produced by Brian Lapping as well as several other written sources will be reviewed in order to give us better understanding how ethnicity and nationality are developed and influenced through the different time periods (Lapping, 1995). Some general information Balkan region with its historical, ethnic and cultural and political complexity was always interesting and rich area for every aspect of the cultural and ethnic research. Clash of the east and west Civilizations, cultural heterogeneity, mixture of Christianity and Islam and many other different cultural aspects have to be considered in order to get full understanding of situation. The BBC documentary is very analytical and systematic project that includes and explains most important historical events that happened during and before the last civil war i... Free Essays on Serbs In Croatia Free Essays on Serbs In Croatia Media Review: Documentary; Death of Nation: Yugoslavia Serbs in Croatia (Ethnical and Cultural Problem) Introduction Modern societies are mostly stratified through the aspects of religion, race and ethnicity. Most of us would immediately associate terms of biological traits as the most important factors that are used for ethnic and nation identification. One of the main tasks of this paper is to explain and to support notion that ethnicity, nationality are and always will be socially and culturally constructed. It is important to say that question of political, economical and ideological power will also be included in the discussion as very important element that takes and gives social space to the development of nations and ethnic groups. Education, religion, language and history are elements that are used and exercised through the power and they can be recognize as sources of the power on their own. Following the anthropological definition on ethnicity; main factors that symbolize and represent ethnicity are religious belief, language and culture. BBC documentary â€Å"Death of Yugoslavia†, produced by Brian Lapping as well as several other written sources will be reviewed in order to give us better understanding how ethnicity and nationality are developed and influenced through the different time periods (Lapping, 1995). Some general information Balkan region with its historical, ethnic and cultural and political complexity was always interesting and rich area for every aspect of the cultural and ethnic research. Clash of the east and west Civilizations, cultural heterogeneity, mixture of Christianity and Islam and many other different cultural aspects have to be considered in order to get full understanding of situation. The BBC documentary is very analytical and systematic project that includes and explains most important historical events that happened during and before the last civil war i...

Manager of a bank Essay Example | Topics and Well Written Essays - 500 words

Manager of a bank - Essay Example The position’s basic academic qualifications vary across banks. While some banks prefer people with Masters Degrees in Business Administration or post graduate diploma in business management, others recruit individuals with Bachelor degrees. Qualified accountants under Chartered Accountancy can also fill the position of a bank manager. Similarly, a Master degree in Economics is an entry qualification into the career position. While possession of any of these qualifications establishes an opportunity to be employed by a bank as its manager, a combination of two or more, and even possession of other academic qualifications in addition to these, adds competitive advantage to an individual for consideration into the position of a bank manager. Such qualifications are necessary for meeting the scope of work in the banking sector, which defines the roles and responsibilities of a bank manager. The manager has a general responsibility of overseeing operations in his or her branch or sets of branches and includes exercising control over branch employees and processes. The manager is for example responsible for marketing his branch and the branch’s offered products. He, with respect to this role ensures development of strategies for understanding customer’s behavior and influencing such behavior towards higher demand for the organization’s product. He is also responsible for meeting customers’ expectations and resolving any emergent problems from customers. This is achieved through two initiatives. Ensuring that customers’ utility through offered products is achieved by initiating market research in order to determine products that can meet customers’ changing needs. He also approves m arket research findings for implementation towards delivery of newly developed products and practices. The manager also listens to customers’ complains against his branch’s employees or products, and

"Verbicide" Assignment Example | Topics and Well Written Essays - 750 words

"Verbicide" - Assignment Example One challenge that people face is not the lack of knowledge of the language, but a lack of coherence in speaking it. This challenge has been occasioned, partly because the society is greatly specialized. This specialization has led to the division of language segments, each for a different and distinct sector of development for example. The language used, say in electrical engineering is strictly confined and distinct in that particular field. This confinement has meant that our language is sorted out based on the various accepted disciplines in our society. An electrical engineering student finds it difficult communicating on anything else besides electrical engineering. A person’s capacity to think as a whole has significantly been compromised as the language of the expert cannot explain the general state of our practical life. The battle against language is championed by people who subvert the vocabulary used by the general public. This selfish act is all in a bid to controlling others by availing biased meanings to particular issues. This has resulted in a gradual slow death of our vocabulary. The effect has been a situation where the people cannot define the problems that they face. This issue has brought about a quagmire of accumulated and unsolved problems. The words that the people cannot adequately describe these same imaginations. Another major problem is the decline in the experience of the world both in terms of range and depth. The decline has been so great that experience is rendered artificial. It is now hard to come across people who are skilled in working on farms or in forests. The vocabulary in such intimate areas has been rendered impoverished. Even when the people have the world’s experience, it is usually confined to non-participatory realms that make it artificial. Language plays a critical role in ensuring teamwork both in informal settings and at the workplaces. The issues affecting language are,

Alabama Immigration Law Essay Example for Free

Alabama Immigration Law Essay Policy Analysis I Paper CJA 463 Policy Analysis I Paper The new Alabama Immigration Law has set a new get tough standard for immigration law and policies. The law â€Å"[outlaws illegal immigrants from receiving any state or local public benefits, bars them from enrolling in or attending public colleges, and prohibits them from applying for or soliciting work]†. (Fausset,  para. 11) The Alabama Immigration Law also forbids the harboring and transport of illegal immigrants. The law also outlaws them from knowingly renting any type of facility or property and does not allow them to work any where in the sate. If a company has an illegal person on their payroll then it makes it an illegal practice to not hire a legal resident. A big issue that has come up in many debates is the fact that schools now have to verify the legality of students in their schools. It does not ban students from attending the school but it does require that the schools keep a report and send it in to the state board of education. Another issue is that the police department must detain any person that can no provide documentation of being a United States Citizen. The Governor of Alabama, Robert Bentley, initiated this bill into congress and it was passed. The bill takes effect on September 1st 2011. Opponents of the bill state that it is unconstitutional. Some of them even saying that it is going back to the pre civil rights era. People are afraid that students will be afraid to attend school in case they are found out to be illegal. If they are found to be illegal then their parents and family could be kicked out of their home, fired from their jobs and they could lose any benefits that they may have making it impossible for them to live. The fear is also that they will be harassed by other kids at the school making it hard for them to attend and learn. The constitutional issue that arises is the discrimination factor. Illegal immigrants are being discriminated against because of their background. It is against the constitution to do that. This has many people angry and looking to overturn the laws in Alabama because of this. This law is more of a regulatory policy because the government of Alabama passed the law to ban illegal immigrants from the state and the laws to enact this ban are going to be taken into effect. The policies and laws surrounding this new act will affect many people and organizations. The illegal immigrants are going to be affected but the police department will have to make a special unit to handle the illegal immigrants or the suspected illegal immigrants that are stopped and detained. This will cost the taxpayers more money and will cost the police department more money because they will have to build bigger facilities, hire more work force and ensure that everyone is multilingual that works on these task forces. Those that do not have the funds to build bigger holding facilities will have to incur the costs to transport the illegal immigrants to other facilities within the state to hold until another unit comes in and verifies their status. The schools will have to hire a whole team that counts and ensures legal status for all children in the school. This unit would need to be multilingual to help with the needs of the illegal immigrant children and to ensure they knew what to do with these statistics. The school system will incur many costs because the unit will have to research and prepare a report stating their findings to the state board of education in Alabama. The state as a whole will be affected because employers will be afraid to hire anyone that does not â€Å"look† American. The employers have to hire another set of employees just to handle the paperwork involved in the e-verify system and to ensure all of their employees are legally authorized to work in the United States. This will cost the employers more money and will leave them little to no room to give incentive raises or merit based raises because of the new jobs this will entail. When new jobs are added, more taxes and insurance is required causing some places to maybe even shut their doors.

Music in William Shakespeare’s Plays :: Biography Biographies Essays

Music in Shakespeare’s Plays    Elizabethans, during the time of the notorious William Shakespeare (1564-1616), were extremely sensitive to beauty and grace and had an undying enthusiasm for music and poetry. Music was a vital part of Elizabethan society; it was thought that a man who could not read music or understand it was poorly educated. The common entertainment and amusement was centered on music, song, and dance, people of all classes enjoyed the splendor of the music at this time. Since music was so popular and so widely understood, it is little wonder that most Elizabethan plays, including Shakespeare’s plays, have music in them.      Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Shakespeare uses music in his plays for several reasons, all of which are extremely significant. The first is evident in which music was so popular during this time that it influenced the performed plays. Shakespeare had a mixed audience who enjoyed and attended his plays. Music, which was understood practically universally allowed everyone to understand his plays and relate to them more easily. If people did not understand the language or the plot, the music could make it easier for them to follow along.      Secondly, on the stage music played a very important role. Music contributed to the atmosphere and set the mood in many of Shakespeare’s plays.   There was a special musicians’ gallery above the stage, the music sometimes was played on the stage, and there were occasions when it was played under the stage to achieve an eerie effect. During comedy plays gentle songs would be played with the lute and during tragedies and histories the sounds of trumpets and drums would echo through the theater. For example, if a king entered the trumpets would sound and everyone would know who it was. The Twelfth Night is also a good example; it includes instrumental serenades and rousing drinking songs, all to show the gaiety and sadness for the mood of the play.      Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Some songs and music are intended to represent a soliloquy, when private thoughts and feelings are performed. Songs, music, and sound effects represent themes, tones, moods, emotions, and even people. Shakespeare, being a lyric poet, used fifty or more songs in his plays and wrote hundreds of stage directions calling for music.

Pinnacle Manufacturing Case

Original Work please INTEGRATED CASE APPLICATION –PINNACLE MANUFACTURING: PART II 9-37 (Objectives 9-7, 9-8) In Part I of the case, you performed preliminary analytical procedures for Pinnacle (pp. 245–247). The purpose of Part II is to identify factors influencing risks and the relationship of risks to audit evidence. During the planning phase of the audit, you met with Pinnacle’s management team and performed other planning activities. You encounter the following situations that you believe may be relevant to the audit: 1.Your firm has an employee who reads and saves articles about issues that may affect key clients. You read an article in the file titled, â€Å"EPA Regulations Encouraging Solar-Powered Engines Postponed? † After reading the article, you realize that the regulations management is relying upon to increase sales of this division might not go into effect for at least ten years. A second article is titled, â€Å"Stick to Diesel Pinnacle! â €  The article claims that although Pinnacle has proven itself within the diesel engine industry, they lack the knowledge and people necessary to perform well in the solar-powered engine industry. . You ask management for a tour of the Solar-Electro facilities. While touring the warehouse, you notice a section of solar-powered engines that do not look like the ones advertised on Pinnacle’s Web site. You ask the warehouse manager when those items were first manufactured. He responds by telling you, â€Å"I’m not sure. I’ve been here a year and they were here when I first arrived† 3. You also observe that new computerized manufacturing equipment has been installed at Solar-Electro. The machines have been stamped with the words, â€Å"Product of Welburn Manufacturing, Detroit, Michigan. 4. During a meeting with the facilities director, you learn that the board of directors has decided to raise a significant amount of debt to finance the construction of a new manufacturing plant for the Solar-Electro division. The company also plans to make a considerable investment in modifications to the property on which the plant will be built. 5. While standing in line at a vending machine, you see a Pinnacle vice president wearing a golf shirt with the words â€Å"Todd-Machinery† You are familiar with the company and noticed some of its repairmen working in the plant earlier.You tell the man you like the shirt and he responds by saying, â€Å"Thank you. My wife and I own the company, but we hire people to manage it. † 6. After inquiry of the internal audit team, you realize there is significant turnover in the internal audit department. You conclude the turnover is only present at the higher-level positions. 7. While reviewing Pinnacle’s long-term debt agreements, you identify several restrictive covenants. Two requirements are to keep the current ratio above 2. 0 and debt-to-equity below 1. 0 at all times. 8.While reading the footnotes of the previous year’s financial statements, you note that one customer, Auto-Electro, accounts for nearly 15% of the company’s accounts receivable balance. You investigate this receivable and learn it has been outstanding for several months. 9. The engagement partner from your CPA firm called today notifying you that Brian Sioux, an industry specialist and senior tax manager from the firm’s Ontario office, will be coming on-site to Pinnacle’s facilities to investigate an ongoing dispute between the Internal Revenue Service and Pinnacle. 0. A member of your CPA firm, who is currently on-site in Detroit at the Welburn division, calls you to see how everything is going while you are visiting Solar-Electro in Texas. During your conversation, he asks if you know anything about the recent intercompany loan from Welburn to Solar-Electro. 11. During discussions with the Pinnacle controller, you learn that Pinnacle employees did a significant amoun t of the construction work for a building addition.The controller stated that the work was carefully coordinated with the construction company responsible for the addition. Required a. Identify specific considerations from Parts I and II of the case that affect your assessments of engagement risk and acceptable audit risk. Use each of the three factors in the text to categorize your conclusions: External users’ reliance on financial statements Likelihood of financial difficulties Management integrity As the Independent Auditor I would require from Pinnacle, the client a Management Representation Letter.This is a letter an auditor is required to obtain from management at the conclusion of fieldwork, confirming representations explicitly or implicitly given to the auditor, indicating and documenting the continuing appropriateness of such representations, and reducing the possibility of misunderstanding regarding the representations. b. Assess acceptable audit risk as high, medi um, or low considering the items you identified in requirement a. (A risky client will be assessed as a low acceptable audit risk. I will identify the audit risk as high. c. Identify inherent risks for the audit of Pinnacle using the information from Parts I and II. For each inherent risk, identify the account or accounts that may be affected. (1)Related Parties – A reporting entity’s affiliates, principal owners, and management also, any members of their immediate families. Points of consideration is a Pinnacle VP owning Todd-Machinery, its repair men working at Pinnacle at the time the auditor was at field work, while standing in front of vending machine. 2) While reviewing Pinnacle’s long-term debt agreements, there were several restrictive covenants. Two requirements are to keep the current ratio above 2. 0 and debt-to-equity below 1. 0 at all times. This is an item of consideration of possibilities for Pinnacle to â€Å"cook the books† so as to keep in compliance with covenant. (3) There is a high turnover of employees. After inquiry of the internal audit team, you realize there is significant turnover in the internal audit department. You conclude the turnover is only present at the higher-level positions. 4) While reading the footnotes of the previous year’s financial statements, you note that one customer, Auto-Electro, accounts for nearly 15% of the company’s accounts receivable balance. This receivable and learn it has been outstanding for several months. This is an inherent risk of being a related party transaction wherein goods could be sold to Auto-Electro, a related party, but Pinnacle has not received collection of receivables because this is just to make the financial statements look good as having the sale.Revenue and Inventory accounts are affected. (5)There is an ongoing dispute between Pinnacle and Internal Revenue Service. 10-43 (Objective 10-5) In Parts I and II of this case, you performed prelimi nary analytical procedures and assessed acceptable audit risk and inherent risk for Pinnacle Manufacturing. Your team has been assigned the responsibility of auditing the acquisition and payment cycle and one related balance sheet account, accounts payable.The general approach to be taken will be to reduce assessed control risk to a low level, if possible, for the two main types of transactions affecting accounts payable: acquisitions and cash disbursements. The following are furnished as background information: A summary of key information from the audit of the acquisition and payment cycle and accounts payable in the prior year, which was extracted from the previous audit firm’s audit files (Figure 10-12) A flowchart description of the accounting system and internal controls for the acquisition and payment cycle (Figure 10-13,p. 34)—the flowchart shows that although each of the company’s three divisions has its own receiving department, the purchasing and acco unts payable functions are centralized The purpose of Part III is to obtain an understanding of internal control and assess control risk for Pinnacle Manufacturing’s acquisition and cash disbursement transactions. Required a. Familiarize yourself with the internal control system for acquisitions and cash disbursements by studying the information in Figure 10-12 and Figure 10-13. FIGURE 10-12 Information for Audit of Accounts Payable — Previous Year . Prepare a control risk matrix for acquisitions and a separate one for cash disbursements using Figure 10-5 on page 308 as a guide. A formatted control risk matrix is provided on the textbook Web site. The objectives should be specific transaction-related audit objectives for acquisitions for the first matrix and cash disbursements for the second matrix. See pages 608–612 in Chapter 18 for transaction-related audit objectives for acquisitions and cash disbursements. In doing Part III, the following steps are recommen ded: (1) Controls a.Identify key controls for acquisitions and for cash disbursements. After you decide on the key controls, include each control in one of the two matrices. b. Include a â€Å"C‚† in the matrix in each column for the objective(s) to which each control applies. Several of the controls should satisfy multiple objectives. (2) Deficiencies a. Identify key deficiencies for acquisitions and for cash disbursements. After you decide on the deficiencies, include each significant deficiency or material weakness in the bottom portion of one of the two matrices. Answer:During a meeting with the facilities director, you learn that the board of directors has decided to raise a significant amount of debt to finance the construction of a new manufacturing plant for the Solar-Electro division. The company also plans to make a considerable investment in modifications to the property on which the plant will be built. Auditing Presentation and Disclosure. a. Completeness T he auditor should ensure that all required disclosures related to accounts payable and purchases have been included in the notes to the financial statements. Required disclosures include: 1.Payables by type (trade, officer/ employee, affiliates) and term (short-term and long-term) 2. Purchase contracts and purchase commitments. 3. Related party purchases and payables 4. Expenses by segment b. Valuation, Allocation and Accuracy The auditor should read the footnotes and other information related to accounts payable and purchases to determine whether the information is accurate and presented at the appropriate amounts. c. Rights and Obligations and Occurrence The auditor should compare disclosures to other audit eveidence to ensure that all disclosed information related to accounts payable and purchases has occurred. . Understandability and Classification The auditor should read all accounts payable and purchase related disclosures to ensure that they are understandable. The auditor sh ould determine whether material long-term payables or non-trade payables require separate disclosure. b. Include a â€Å"D‚† in the matrix in each column for the objective(s) to which each significant deficiency or material weakness applies. (3) Assess control risk as high, medium, or low for each objective using your best judgment. Do this for both the acquisitions and cash disbursements matrices.Control risk is to be assessed as high therefore as auditor, I would increase my risk sampling. Expenditure Cycle A. Internal Control- Purchases The following functions in a purchase transaction should be segregated: 1. Purchase Requisition The purchase requisition starts the purchasing cycle. The department in need of the asset or services sends a properly approved, serially numbered requisition to the purchasing department. The requisitioning department should not have the authority to actually place the purchase order. This would indicate a weakness in internal control. 2. Purchase OrdersThe purchasing department should place the order only after giving proper consideration to the time to order and the quantity to order. The purchasing department should also obtain competitive bids from various suppliers to make sure that the best price is obtained. The purchase order is issued only after proper approval. For internal control purposes, it is best that pre-numbered purchase orders can be used. There should be multiple copies that will be sent to: (i) the requisitioning department; (ii) the vendor; (iii) the receiving department; and (iv) the accounting department.If the purchase order is canceled, all copies should be recalled and filed so that every purchase order number is accounted for. 3. Receipt of Goods or Services The copy of the purchase order sent to the receiving department serves as an authorization to accept the goods when they arrive. It is preferable that the copy not indicate the quantity ordered. Thus, the receiving department is forced to count the goods upon arrival. A receiving report is prepared by this department and forwarded to the accounting department. The goods are forwarded to the requisitioning department .B. Internal Control – Accounts Payable The accounting department has three functions: (i) to record the payable, (ii) to approve the invoice for payment; and (iii) to record the payment after it is paid by the Treasurer. 1. Recording the Payable The copy of the purchase order sent to the accounting department notifies them that there will be a future cash disbursement. The receiving report is compared with the purchase order and the vendor’s invoice as to the quantity to prevent payment of charges for goods in excess of those ordered and received.The accounting department records the goods as received in inventory, and records a payable. 2. Approving Invoice for Payment and Recording Payment When the invoice arrives, the accounting department approves it by matching the invoice, purchas e order, receiving report, and (sometimes) the requisition. When payment is made, the payable is reversed. The accounting department should ensure that the invoice amount is correct, and that it accurately reflects any purchase discounts, before approving it for payment. C. Internal Control – Cash DisbursementsIt is best for internal control purposes to pay invoices by check. For effective internal control, the functions of approving the payment and signing the checks should be segregated. Approved voucher packets (matched invoice, purchase order, receiving report, and requisition) prepared by the accounting department (Accounts Payable) are received by the Treasurer, who prepares, signs, and mails the checks and cancels all supporting documents after payment. Paid vouchers are returned to the accounting department for posting of the payment and filing of the documents.