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Semester “Spring 2011”
“Change Management (MGMT625)”
Assignment No. 2 Marks: 15
Solution:
Nadler’s requirements for organization change
For Nadler requirements for organizational change are three:
1. Motivating change
2. Managing the transition
3. Shaping the political dynamics of change
Nadler is a very well known figure in management research and consultancy. He recommended the following prerequisites for installing a change in an
organization.
1. Motivating Change (attitude-to-behavioral change approach)
It focuses on two method of manipulating attitude and behavioral change:
i) Persuasion / Cognitive / Emotional method (based on psychotherapy)
ii) Rational / Intellectual method (based on cost-and-benefit analysis method)
Hence managers get motivated on the above identified ways ad means.
2. Managing the Transition
Manager ought to develop switching skills in order to develop and acquire skills
and values of newer systems, processes, technologies, and even to new strategies.
Whenever an organization is in transition,
It means that managers and organizations have to bear the burden of both
systems; newer and the older one. In this situation a balance is required for
achieving the harmony and smooth progression from turning one system to
another one is extremely difficult. This has been earlier explained to you in
details.
3. Shaping the political Dynamics of Change
When change occurs in an organization an environment of politics emerge
automatically as change creates winners and losers. The results would be the
winners and losers will engage in organization conflict. So at this situation a
dominant condition of interest is required for resolution of the conflict.
Though it appears simplistic but the author analysis show that environmental
factors are more likely to pose potential threats to an organization’s well-being, while structural factors are an organization’s major means of achieving success or, at least, coping with threats.
:::::::::::::::::::::::::::::::::::::::::::::::::::::
Assignment
Semester “Spring 2011”
“Change Management (MGMT625)”
Assignment No. 2 Marks: 15
“Injecting a new system!!”
Punjab Public Library of Pakistan is one of the oldest libraries of the town founded in 1884
having total volume of around 259,000 books. As it serves the masses therefore government
decided to make the procedures of library a little efficient for which government provide
excessive funds to its Chief librarian.
The chief librarian decided to replace the manual catalogs with the computerized ones in the
library, in order to compete with the other libraries.
Chief librarian floated this idea among his staff and asked for their suggestions &
recommendations to ensure whether this plan can be implemented or not. He called group
meetings to discuss this issue and even he talked face to face individually to every member
involved in the manual catalog systems of the library. According to him it is mandatory to
discuss because they would be the individuals who have to run the computerized system,
therefore, they are required to be informed about this change.
This proposal of chief librarian looked attractive to the whole staff as they were convinced that
injection of computers will make their search convenient and less time taking. Moreover, the
employees will also get chance to upgrade themselves with the computer functioning which has
become an essential requirement for every literate person. This is more like a personal benefit
of self development for employees but this personal interest may lead to change acceptance.
The transformation started and the manual system was entered in the computer databases
gradually rather than abruptly. The shift was slow as first staff was provided training about the
simple use of computer applications. The staff members were totally ignorant to the use of
computer systems. In addition to this most of the staff was senior and well trained in operating
manual catalogs. Therefore, the computer training and teaching data entrance retrieval
techniques were time consuming. Another important aspect is this that they maintain the
manual catalog parallel to the computerized catalogs, this help them in recovering any data
loss. The changeover was slow but effective as it lessen the chances of failure to the greater
extent.
1. Read the above scenario carefully and identify & categorize the change activities as the
following three requirements of Nadler Model of change.
Motivating change
Managing the transition
Shaping the Political dynamics
5 marks each
Word limit: 250 words
Important Tips
1. This Assignment can be best attempted from the knowledge acquired after
watching video lecture no. 30 to lecture no. 33---and reading handouts as well as
recommended text book).
2. Video lectures can be downloaded for free from www.youtube.com/vu.
3. Assignment will be straight away marked ZERO if copied from any source. Copy
Paste from Internet is highly discouraged.
Schedule
Opening Date and Time June 20th ,2011 At 12:01 A.M. (Mid-Night)
Due Date and Time June 24th, 2011 At 11:59 P.M. (Mid-Night)
Note: Only in the case of Assignment, 24 Hrs extra / grace period after the above mentioned
due date is usually available to overcome uploading difficulties which may be faced by the
students on last date. This extra time should only be used to meet the emergencies and above
mentioned due dates should always be treated as final to avoid any inconvenience.
Important Instructions:
Please read the following instructions carefully before attempting the assignment solution.
Deadline:
• Make sure that you upload the solution file before the due date. No
assignment will be accepted through e-mail once the solution has been
uploaded by the instructor.
Formatting guidelines:
• Use the font style “Times New Roman” and font size “12”.
• It is advised to compose your document in MS-Word 2003.
• Use black and blue font colors only.
Solution guidelines:
• Use APA style for referencing and citation. For guidance search “APA
reference style” in Google and read various website containing
information for better understanding or visit
http://linguistics.byu.edu/faculty/henrichsenl/apa/APA01.html
• Every student will work individually and has to write in the form of an
analytical assignment.
• Give the answer according to questions asked, there will be negative
marking for irrelevant material.
• For acquiring the relevant knowledge don’t rely only on handouts but
watch the video lectures and use other reference books also.
Rules for Marking:
Please note that your assignment will be graded as Zero (0) if:
• It has been submitted after due date
• The file you uploaded does not open or is corrupt
• It is in any format other than .doc (MS. Word)
• It is cheated or copied from other students, internet, books, journals etc…
Mgmt623 HRM 623 Leadership and Team Management Assignment 02 Spring 2011”
Friday, June 24, 2011 Posted In HRM , Mgmt Edit This
Marks 15
“Honest disagreement is often a good sign of progress.” Do you agree with
this statement, why or why not? (7 Marks)
Does above statement provide any assistance to leaders in conflict resolution? Give
reasons to support your answer. (8 Marks)
Important Instructions:
Please read the following instructions carefully before attempting the assignment solution.
Deadline:• Make sure that you upload the solution file before the due date. No
assignment will be accepted through e-mail once the solution has been
uploaded by the instructor.
Formatting guidelines:
• Use the font style “Times New Roman” and font size “12”.
• It is advised to compose your document in MS-Word 2003.
• Use black and blue font colors only.
Solution guidelines:
• Your solution should not exceed the word limit of 450.
• Every student will work individually and has to write in the form of an
analytical assignment.
• Give the answer according to question
• For acquiring the relevant knowledge don’t rely only on handouts but watch
the video lectures and use other reference books also.
Rules for Marking
Please note that your assignment will not be graded or graded as Zero (0) if:
• It has been submitted after due date
• The file you uploaded does not open or is corrupt
• It is in any format other than .doc (MS. Word)
• It is cheated or copied from other students, internet, books, journals etc…
“Honest disagreement is often a good sign of progress.” Do you agree with
this statement, why or why not? (7 Marks)
Does above statement provide any assistance to leaders in conflict resolution? Give
reasons to support your answer. (8 Marks)
Important Instructions:
Please read the following instructions carefully before attempting the assignment solution.
Deadline:• Make sure that you upload the solution file before the due date. No
assignment will be accepted through e-mail once the solution has been
uploaded by the instructor.
Formatting guidelines:
• Use the font style “Times New Roman” and font size “12”.
• It is advised to compose your document in MS-Word 2003.
• Use black and blue font colors only.
Solution guidelines:
• Your solution should not exceed the word limit of 450.
• Every student will work individually and has to write in the form of an
analytical assignment.
• Give the answer according to question
• For acquiring the relevant knowledge don’t rely only on handouts but watch
the video lectures and use other reference books also.
Rules for Marking
Please note that your assignment will not be graded or graded as Zero (0) if:
• It has been submitted after due date
• The file you uploaded does not open or is corrupt
• It is in any format other than .doc (MS. Word)
• It is cheated or copied from other students, internet, books, journals etc…
Mgt401 GDB No. 3 solution
Friday, June 24, 2011 Posted In MGT Edit This
Schedule
Opening Date and Time
22nd June, 2011 At 12:01 A.M. (Mid-Night)
Closing Date and Time
24th June, 2011 At 11:59 P.M. (Mid-Night)
Note: No extra or bonus/grace period is available for attempting GDB.
Discussion Question
Abacus Shipment is a cargo company which is engaged in transportation of dry bulk and liquid cargoes globally. The management office of the company is located in Lahore and it is listed on the Lahore Stock Exchange since 1990.
In year 2010, Abacus lost an entire shipload of cargo worth Rs. 100 million on a voyage to Canada. This seems to be a big loss for the company but a fortunate thing that it was insured through an insurance policy from PACCS insurance company. According to the report of the surveyor, the amount is claimable with subjected to deductible clause (10% of the claim) in the insurance policy. Before end of year, Abacus received a letter about acceptance of claim covering 90% of total insurance policy with intimating that cheque is in the mail (means the cheque is issued but it is on its way to you by mail).
ABC freight forwarding company which handed over the shipment to Abacus filed a lawsuit of Rs. 100 million against it by claiming the lost of shipment with additional lawsuit of Rs. 4 million resulting from the delay. The “Appellate Tribunal” of legal counsel of shipping companies declared, “It is probable that Abacus Shipment would have to pay Rs. 100 million but it is also a remote possibility that it would have to pay further Rs. 4 million which is claimed by the ABC freight forwarding company as this loss is specifically excluded from the freight forwarding contract.”
Requirements
You are required to identify:
1. At which amount Abacus Shipment would need to make a provision at year end towards the claim of ABC freight forwarding company?
2. At which amount Abacus Shipment would need to recognize a contingent asset at year end towards the claim by company itself against the PACCS insurance company?
SOLUTION:
At which amount Abacus Shipment would need to make a provision at year end towards the claim of ABC freight forwarding company?
104 Million Rs. 1st Ans
At which amount Abacus Shipment would need to recognize a contingent asset at year end towards the claim by company itself against the PACCS insurance company?
90 Million Rs. 2nd Ans
Opening Date and Time
22nd June, 2011 At 12:01 A.M. (Mid-Night)
Closing Date and Time
24th June, 2011 At 11:59 P.M. (Mid-Night)
Note: No extra or bonus/grace period is available for attempting GDB.
Discussion Question
Abacus Shipment is a cargo company which is engaged in transportation of dry bulk and liquid cargoes globally. The management office of the company is located in Lahore and it is listed on the Lahore Stock Exchange since 1990.
In year 2010, Abacus lost an entire shipload of cargo worth Rs. 100 million on a voyage to Canada. This seems to be a big loss for the company but a fortunate thing that it was insured through an insurance policy from PACCS insurance company. According to the report of the surveyor, the amount is claimable with subjected to deductible clause (10% of the claim) in the insurance policy. Before end of year, Abacus received a letter about acceptance of claim covering 90% of total insurance policy with intimating that cheque is in the mail (means the cheque is issued but it is on its way to you by mail).
ABC freight forwarding company which handed over the shipment to Abacus filed a lawsuit of Rs. 100 million against it by claiming the lost of shipment with additional lawsuit of Rs. 4 million resulting from the delay. The “Appellate Tribunal” of legal counsel of shipping companies declared, “It is probable that Abacus Shipment would have to pay Rs. 100 million but it is also a remote possibility that it would have to pay further Rs. 4 million which is claimed by the ABC freight forwarding company as this loss is specifically excluded from the freight forwarding contract.”
Requirements
You are required to identify:
1. At which amount Abacus Shipment would need to make a provision at year end towards the claim of ABC freight forwarding company?
2. At which amount Abacus Shipment would need to recognize a contingent asset at year end towards the claim by company itself against the PACCS insurance company?
SOLUTION:
At which amount Abacus Shipment would need to make a provision at year end towards the claim of ABC freight forwarding company?
104 Million Rs. 1st Ans
At which amount Abacus Shipment would need to recognize a contingent asset at year end towards the claim by company itself against the PACCS insurance company?
90 Million Rs. 2nd Ans
MCM301 GDB No. 1 solution
Friday, June 24, 2011 Posted In mcm Edit ThisSemester “Spring 2011”
“Communication Skills (MCM 301)”This is to inform you that Graded Discussion Board (GDB)has been opened according to the following schedule
Schedule
Opening Date and Time
23rd June, 2011 At 12:01 A.M. (Mid-Night
Closing Date and Time
24th June, 2011 At 11:59 P.M. (Mid-Night)
Note: No extra or bonus/grace period is available for attempting GBD.
Discussion Question
Q. “Communication succeeds when we increase the area of common understanding”, Give your comments for the given statement.
(Word limit: 250 to 300 words)
Instructions:
Read the following instructions before giving your comments on GDB:
Use the font style “Times New Roman” and font size “12”.
Your answer should be relevant to the topic i.e. clear and concise.
Do not copy or exchange your answer with other students. Two identical / copied comments will be marked Zero (0) and may damage your grade in the course.
Books, websites and other reading material may be consulted before posting your comments but copying or reproducing the text from books, websites and other reading materials is strictly prohibited. Such comments will be marked as Zero (0).
Obnoxious or ignoble answer should be strictly avoided.
SOLUTION:
Q. “Communication succeeds when we increase the area of common understanding”, Give your comments for the given statement.
The first goal of business communication is that receiver common understanding is more important the message must be so clear that the reciever understand it as the sender means it to be understand for communication to be successfull the sender and reciver must achieve shared meanings suppose a supervisor send a e mail to a subordinate saying '' no one plans for a meeting like you do'' should the worker response or react with pleasure or disappointment? is the supervisor praising or critisizing?
:::::::::::::::::::::::::::::::::::::::
a. Communication does not succeed. Me and you could. What is certain is that if we don't understand each other, failure is imminent.
b. If you want to improve communication, first remove the pompous terminology. People link pompous terminology as an attempt to proof superiority.
c. Making the statement personal brings in a certain humanity to it; it accounts for emotions other than just pure rationale.
:::::::::::::::::::::::::::::::::::::::::::::::
I would put it differently...'If you and I reach out, we will be able to understand each other better.'
a. Communication does not succeed. Me and you could. What is certain is that if we don't understand each other, failure is imminent.
b. If you want to improve communication, first remove the pompous terminology. People link pompous terminology as an attempt to proof superiority.
c. Making the statement personal brings in a certain humanity to it; it accounts for emotions other than just pure rationale.
::::::::::::::::::::::::::::::::::::::::::::::::::::::
b. If you want to improve communication, first remove the pompous terminology. People link pompous terminology as an attempt to proof superiority.
c. Making the statement personal brings in a certain humanity to it; it accounts for emotions other than just pure rationale.
:::::::::::::::::::::::::::::::::::::::::::::::
I would put it differently...'If you and I reach out, we will be able to understand each other better.'
a. Communication does not succeed. Me and you could. What is certain is that if we don't understand each other, failure is imminent.
b. If you want to improve communication, first remove the pompous terminology. People link pompous terminology as an attempt to proof superiority.
c. Making the statement personal brings in a certain humanity to it; it accounts for emotions other than just pure rationale.
::::::::::::::::::::::::::::::::::::::::::::::::::::::
According to my point of view the affective communication should be always to achieve its desired goal in such way that both sender and receiver understand each other meaning and ultimately reach their desire purpose, we also know the massage should be clear and meaning full sense, precise and polite manners mean that receiver understand complete meaning, on the other hand In effective communication both individual sending a message and the individual receiving it must identify the significance of senders signal in all communications systems sender and receiver have to common understanding about what passing between them.
CS507 Assignment No. 4 solution
Friday, June 24, 2011 Posted In CS and IT Edit ThisQuestion:
A famous boutique in Lahore is going to launch a website to introduce online shopping facility for its customers.What kind of preventive measures can be adopted to save the website from the expected threats?
Also explain the technique used to make your electronic documents (such as email, text files) secured? [10 marks]Due Date:
Your assignment must be uploaded/submitted before or on 28th June 2011
SOLUTION:
As organizations move more business processes online, protecting the
privacy of the information used during these processes is essential. Because many confidentiality and automated processes rely on electronic documents that contain mission-critical, personal, and sensitive information, organizations must make significant investments to properly protect these documents.
Stop the Hack and Secure Your Website in 10 Best Methods
If you are a business owner, then you must know how important it is for you to
own website. You can use it to be able to reach as many target customers ashave your
possible.
After all, they are located in almost many parts of the world. You can display all your
products and services in yo ur website. But do you know that they can be a great
area for
hackers to play on? So how can you protect your website against hacking?
1.
Protect your files with passwords
. Surely, your website will contain scripts,
database, and files that are not meant to be shared publicly but for perhaps the
search engine bots. To avoid having an yon e getting hold of them, it may be ideal
to protect them with password. However, you hav e to make sure th at these are
ver y hard to decipher. This is because they can simply make use of passworddeciphering
software. You can combine alphanumeric characters and exhaust all
the character limits as much as possible.
2.
Secure your e-mail address
. There may be times when you will be receiving an
e-mail address courtesy of your online business form. There are even others who
will send a message directly into your mailbox. This may mean th at spammers
have got hold of your contact information perhaps in the Web or from someone
else. To prevent this, you can make use of software that will split your e-mail
address. It will then very hard for spamming software to read. You can also just
add an E-mail Us link into your website or an image which can be clicked and
allow your customers to send an
right away. There’s no need to reveal the
e-mail address.
3.
Don’t leave e-mail addresses anywhere
. Perhaps you’re thinking of mark eting
your website in forums and other public online networks. This is okay; however,
you have to be very cautious. Hackers and spammers are very much interested of
your e-mail address. You can make use of a bogus one, and simply add a link of
your website in the signature.
4.
Secure your source code
. There are hackers who are interested in getting your
source code to either destroy it or to build a website clone. That’s why it is very
important that you can protect it against such individuals. You can make use of
scripts that will allow your source code to remain hidden to Internet users. Or you
can simply make use of external CSS sheets as well as files for Javascript.
5.
Check for software patches
. If you have been using some software in building or
maintaining your website, make sure that you constantly update all of your files.
This may be because the older ones can no longer protect your website
from
hackers
and
spammers
.
6.
Sign up for updates
. Majority of the product and software updates may only be
announced in their respective websites. This is to encourage their customers to
continuously be up-to-date too of an y new products that they are currently
introducing into the market. To avoid the hassle, sign up using one secure e-mail
address in all of their newsletters. If you receive any updates, make su re you take
time in reading them.
7.
Add a robot.txt.
This is a special instruction you will give to search engines who
may be visiting your webpages. You can instruct them to only index those files
that are meant for users. You can also direct them to not index an y that are only
meant for webmasters. These may include files and images.
8.
Check the permissions you may have set for your uploaded files.
This is to
prevent any hacker from getting access into your important and confidential files.
You can confirm it by selecting CHMOD for your files located in the web hosting
server. Otherwise, if you aren’t sur e, then you can simply verify it from you r
webmaster.
9.
Take away old or unnecessary files.
It’s normal for search engines to keep files
from your website, especially if they are being ind exed. However, if you remove
them from the server, then no one can access them anymore. It will not be
obtainable for hackers and spammers.
10.
Know your server
. Your server is very essential as you basically keep all of you r
files there, and it will cause your website to run smoothly. Intruders, on the other
hand, can add virus or
malware
into your system, thereby causing damage into
your website. If you are running it on your own, you must know your server
properly. This way, you can set the right security and permission level for your
site.
How to provide persistent document security
A significantly more effective solution for protecting an electronic document is to
assign
security parameters that are an integral part of the document itself. The following
criteria
define persistent document security:
Confidentiality—Who should have access to the document?
Authorization—What permissions does the user have for working with the
document?
Accountability—What has the recipient done with the document?
Integrity—How do you know if the document has been altered?
Authenticity—How do you know where the document came f rom?
Non-repudiation—Can the signatory deny signing the document?
Access Controls
These controls establish the interface between the would-be user of the computer
system
and the computer itself. These controls monitor the initial handshaking procedure of
the
user with the operating system. For example when a customer enters the card and
the pin
code in an automatic teller machine (ATM), the access controls are exercised b y
the
system to block unwanted or illegitimate access.
The identity of the user needs to be established before granting access. The user
should
be given access to the nature and kind of resources he is entitled to access. Actions
taken
by users to have access beyond the limits defined should be blocked and recorded.
Cryptography
In literal terms, cryptography means science of coded writing. It is a security
safeguard to
render information unintelligible if unauthorized individuals intercept the
transmission.
When the information is to be used, it can be decoded. “The conversion of data into
a secret
code for the secure transmission over a public network is called cryptography.”
Encryption & Decryption
Cryptography primarily consists of two basic processes. These processes are
explained
through a diagram.
Encryption – the process of converting data into codes (cryptograms)
Decryption – the process of decoding the code arrived at data actually encrypted
Access controls focus on the correct identification of the user seeking permission to
access
the system. There can be various sources of identifying and authenticating the user.
•
What a user remembers – name, birthdates, password
•
What a user possesses – badge, plastic card
•
What a user is – personal characteristics
Biometrics
Identification of an individual through unique physical characteristics is proving to be
quite safe and secure for allowing access. The study of p ersonal characteristics has
been
extensively used for identification purposes.
Most commonly, following personal physical ch aracteristics are covered,
• Finger print
• Hand print
• Voice Print
• Facial profiling – measuring distance between various points on face
• Iris/retinal recognition – eye patterns
CS101 Assignment No. 4 solution
Friday, June 24, 2011 Posted In CS and IT Edit This
Assignment No. 4
Semester Spring 2011Introduction to Computing-CS101
Semester Spring 2011Introduction to Computing-CS101
Total Marks: 20
Due Date: 27/06/2011Objective:
Instructions:
Please read the following instructions carefully before solving & submitting assignment:
Assignment should be in your own wordings not copied from internet, handouts or books.
It should be clear that your assignment will not get any credit (zero marks) if:
o The assignment is submitted after due date.
o The submitted assignment does not open or file corrupt.
o The assignment is copied (from other student or copy from handouts or internet).
o Student ID is not mentioned in the assignment File or name of file is other than student ID.
o The format of the assignment is other than MS Power Point format.
For any query about the assignment, contact at cs101@vu.edu.pk
You are required to present yourself with the help of MS Power Point slides. Use MS Power Point to make a presentation fulfilling the following requirements.
1. Formatting requirements / instructions:
a. Each slide should contain Date, Name of the student and the slide number in the footer section of the slide.
b. Each slide except the title slide should contain VU logo at the upper right corner of the slide with appropriate size, not affecting the slide text.
c. Each slide should be furnished with a different slide transition effect.
d. All text in the presentation should be animated with suitable animations.
e. Title Slide Formatting
i. Main headings should be in the Times New Roman style with text size 50.
ii. Second heading should be in the Times New Roman style with text size 28.
f. Other Slides formatting
i. Headings on all other slides except the title slide must be in the Arial Black style with text size 40
ii. All text except headings should be formatted with style Arial and 24 text size.
iii. Bullets should be in small alphabetic order (Not in number order) where required.
Note: Use Slide Master feature to fulfill the above requirements
2. The contents requirements of the presentation:
a. Title slide should contain the name and VU ID of the student.
b. Next slide(s) should contain your Brief introduction with the Aim in life.
c. Next slide(s) should contain the information regarding the major qualifications in the tabular form like
Certificate / Degree Name | Passing Year | Obtained Marks/ Total Marks | Marks Percentage | Major Subjects |
d. There should be a bar chart at the next slide of the information presented in the table, with respect to Certificate / Degree and its marks Percentage.
e. Next slide(s) should have information about your interest / hobbies in the bullets form.
f. Last slide should have a “Thank You” message.
Note:
o Assignment should be in your own wordings not copied from net, handouts or books.
o Your presentation should not have more than 8 slides.
:::::::::::::::::::::::::::::: :::::::::::::::::
Solution
:::::::::::::::::::::::::::::: :::::::::::::::::
Click her for solutions and download the presentation: VUsolutions CS101 Assignment Solution
ACC311 GDB Solution
Friday, June 24, 2011 Posted In Acc Edit This
Semester “Spring 2011”
“Fundamentals of Auditing (ACC-311)”
This is to inform that Graded Discussion Board (GDB)
has been opened according to the following schedule
GDB Schedule
Opening Date and Time
22nd June, 2011 At 12:01 A.M. (Mid-Night)
Closing Date and Time
24th June, 2011 At 11:59 P.M. (Mid-Night)
Note: No extra or bonus/grace period is available for attempting GDB.
Discussion Question
Can an auditor ignore the substantive procedures for a material account balance if related internal controls are assessed to be very strong?
Required:
Provide your answer in the following pattern:1. ------------- (Yes / No)2. ------------- (Reason). Your reason should be confined only between two to three linesInstructions:
Read the following instructions before giving your comments on GDB:
Obnoxious or ignoble answer should be strictly avoided.
:::::::::::::::::::::::::::::::::::::::::::::::::::::::::
Solution:
Can an auditor ignore the substantive procedures for a material account balance if related
internal controls are assessed to be very strong?
Required:
Provide your answer in the following pattern:
1.
2.
----No--------- (Yes / No)------------- (Reason). Your reason should be confined only between two to three lines
To collect audit evidence that the management assertions (actual figures and disclosures) made in the
Financial Statements are reliable and in accordance with required standards and legislation.
Notes:
·
can be performed before year-end. For example, if the year-end is 31 December, the hard close may provide the auditors with figures as at 30 November. The auditors would audit income/expense movements between 1 January and 30 November, so that after year end, it is only necessary for them to audit the December income/expense movements and the 31st December balance sheet. In some countries and accountancy firms these are known as 'roll forward' procedures.Some audits involve a 'hard close' or 'fast close' whereby certain substantive procedures
“Fundamentals of Auditing (ACC-311)”
This is to inform that Graded Discussion Board (GDB)
has been opened according to the following schedule
GDB Schedule
Opening Date and Time
22nd June, 2011 At 12:01 A.M. (Mid-Night)
Closing Date and Time
24th June, 2011 At 11:59 P.M. (Mid-Night)
Note: No extra or bonus/grace period is available for attempting GDB.
Discussion Question
Can an auditor ignore the substantive procedures for a material account balance if related internal controls are assessed to be very strong?
Required:
Provide your answer in the following pattern:1. ------------- (Yes / No)2. ------------- (Reason). Your reason should be confined only between two to three linesInstructions:
Read the following instructions before giving your comments on GDB:
Obnoxious or ignoble answer should be strictly avoided.
:::::::::::::::::::::::::::::::::::::::::::::::::::::::::
Solution:
Can an auditor ignore the substantive procedures for a material account balance if related
internal controls are assessed to be very strong?
Required:
Provide your answer in the following pattern:
1.
2.
----No--------- (Yes / No)------------- (Reason). Your reason should be confined only between two to three lines
To collect audit evidence that the management assertions (actual figures and disclosures) made in the
Financial Statements are reliable and in accordance with required standards and legislation.
Notes:
·
can be performed before year-end. For example, if the year-end is 31 December, the hard close may provide the auditors with figures as at 30 November. The auditors would audit income/expense movements between 1 January and 30 November, so that after year end, it is only necessary for them to audit the December income/expense movements and the 31st December balance sheet. In some countries and accountancy firms these are known as 'roll forward' procedures.Some audits involve a 'hard close' or 'fast close' whereby certain substantive procedures
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