Catastrophes and Stress - 2715 Words

Ailen Fernandez PSY 102 April 21, 2013 Jones, Jennifer Catastrophes and Stress American Leader Martin Luther King Jr. once said, â€Å"An individual has not started living until he can rise above the narrow confines of his individualistic concerns to the broader concerns of all humanity† (Martin). Luther King believed that in order for us humans to have a meaningful live we must put aside our personal problems and care about the problems of humanity as a whole. The earthquake of Oakland, California in 1989 is a true example of this quote. As the sirens of ambulances roared through the abolished city thousands of civilians gathered together, taking risks, to help those that were in the borderline of life and death. Learned helplessness,†¦show more content†¦Although the Kelly’s admit to survivors guilt based on their own footage it seems like they could have done more to prevent the tragedy that happen when the other car dumped into the whole. The only thing that Debbie and Thomas Kelly did to warn upcoming light wa s to put on their flashing light. Debbie took out her recording camera and started to record the gap between the highway, meantime a car was coming and didn’t see the gap crashed in it. Instead of recording Debbie and Thomas should have tried to grab the attention of the drivers so that they wouldn’t have fallen through the road gap. They now experience survivors’ guilt because they survived not crashing into the road gap when the others did (Amaldo, 2004). Survivors’ guilt has been studied in many situations because it is a psychological disorder that affects individuals that have survived a scarring catastrophe. The Holocaust is one of these catastrophes that have left survivors with a sense of guilt. A study done by Gertrude Schneider upon 50 Holocaust survivors demonstrated that some but not all had a sense of survivors’ guilt (Schneider, 1975). Fourteen of the interviewed victims admitted that they felt bad for â€Å"being passive victimsâ⠂¬  and that they would have â€Å"preferred to have died honorably† (Schneider, 1975). Others said that there was no way that they could have fought back and prevent them from going through that horrible experience of being in the camps (Schneider, 1975).Show MoreRelated Stress And How To Manage It Essay1142 Words   |  5 Pages Stress and How To Manage It Everyone has stress, and we all have different stressors. Each person has their own way of coping with stress. some ignore their problems while others face them head on. There are four types of stressors and we all experience them at some point in our lives. One of these stressors is hassles. Hassles are a part of everyday life, but if they arent coped with, they an cause major problems. One hassle in my life is me being constantly sick all of the time. Lately, I haveRead MoreDisaster Of A Subduction Zone1507 Words   |  7 PagesTokyo1, causing a devastating regional and global catastrophe. 1.1 Megathrust Earthquakes Megathrust earthquakes are defined as interplate earthquakes caused by one tectonic plate being forced under another in a subduction zone. During the lifetime of a subduction zone, two plates are constantly moving towards each other, and due to the great amount of friction, these plates get â€Å"stuck† in various areas 2 (fig 1). Due to the build-up of stress in these areas, the plates eventually unlock andRead MoreStress and Health1544 Words   |  7 PagesStress and Health Psychology Andrew Arnold March 25, 2010 Ever wonder about how stress affects our bodies and our health? This word stress is thrown around by the media so much it’s losing its meaning but have you ever wondered how they define stress? The Merriam-Webster dictionary defines stress as a physical, chemical, or emotional factor that causes bodily or mental tension and may be a factor in disease causation. Our text book defines stress as the term used to describe the physicalRead MoreStress : Stress And Stress963 Words   |  4 PagesStress Management One definition of stress is, â€Å"A state of mental or emotional strain or tension resulting from adverse or very demanding circumstances†. Stress can be as small as everyday hassles or as extreme as catastrophes. Stress is a part of our everyday lives and at times can feel as if it is controlling us; as if there is nothing we can do to get rid of it. However, there are ways to cope with stress, to minimize it and hopefully avoid it as much as possible. It is important to know whatRead MoreHomeless Population Essay991 Words   |  4 Pagesthese population? Our text illustrates that there are various populations within the homeless community. 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Clinics and hospital preparedness have turned into a concentration of federal government, localRead More Stress Affects Everybody Differently Essay1128 Words   |  5 PagesWhy Stress Affects Everybody Differently The word stress technically refers only to how our body reacts to stressors, different external inputs. Many stressors are not inherently stressful. There are conscious and unconscious things that occur in our inner world that determine whether a stressor in the external world will trigger our stress response, called mediating responses and moderating factors. (1) Some stress is good for us and motivates us. But signs that stress has gone tooRead MoreThe Vasa Gunship Catastrophe699 Words   |  3 Pagescommunication, and a stringent timeline, the ship was poorly constructed. As a result, Vasa sunk after sailing only 1,000 yards, perishing 50 men and all of the war supplies. 1. Who is responsible for this catastrophe? In this case, it is difficult to blame one individual for the Vasa catastrophe because several decision-makers were involved. Still, King Gustav’s numerous design alterations complicated construction and pressured decision-makers into accommodating his irrational demands. AdditionallyRead MoreU.s. Geological Survey Registered The Tohoku Earthquake1546 Words   |  7 Pagesoutcomes.6,7 1.2 Catastrophe The Tohoku Earthquake shared numerous similarities with other recent megathrust earthquakes—including the 2010 Haiti Earthquake, 2005 Kashmir Earthquake, and 2004 Sumatra Earthquake—with regards to casualties, damage costs, and environmental damage sustained.9,10,11 All of the above catastrophes had death tolls confirmed to be over 10,000, and each generated billions of dollars’ worth of damages.12 However, compared to other similar natural catastrophes, what made the 2011Read MoreCyber Attack And Cyber Attacks958 Words   |  4 Pagescontext of the Asia Pacific region rebalance. Resourcing JAM-GC will delay the rebalance, and address China’s expansion of their ‘comprehensive national power’ and international influence (Annual Report to Congress: PRC, 1, 15). DSCA: Complex catastrophes resulting from cascading failures of multiple interdependent life-sustaining infrastructure components amplifies the need for defense support of civil authorities (DSCA) while complicating the operational environment (JP 3-28, II-1). When state

Analytical Review of the Financial Position and Reporting...

Executive summary. This report is prepared from the standpoint of a shareholder who is interested in the financial performance of Next plc with the particular concern for dividends, earnings and share price. The main findings of this report are the following: †¢ accounting policies adopted by Next plc correspond to the required standards and, in our views, prove to be relevant, reliable, understandable and consistent. †¢ Analysis of investment ratios, gearing ratio and profitability ratios was done and, in our view, being a highly financed business Next plc managed to deliver quite decent results in this testing and critical period. It adopted such policies and made such decisions that allowed earning per share rise 24% and increase†¦show more content†¦Objectivity is another characteristic of the accounting information that is not easy to assess being an outsider. Accountants are human beings and they have to exercise a certain amount of personal judgement when they prepare the financial statements. It is a characteristic that should be assessed internally by the company management or by the auditors who have access to internal accounting information. 2. Analysis of the financial strengths and weaknesses. Since this report is prepared from the standpoint of a shareholder we will look at the following ratios: investment, profitability and gearing. Investment ratios are important for us as they assess the returns and performance of shares. Profitability ratios are crucial as they provide an insight to the degree of success in creating wealth for the business (Peter Atrill, Eddie McLaney, 2008) that directly affects the future of the business and can highlight additional indications of whether keeping on investing in this company or consider other alternatives. Gearing ratio will give us an idea of risks associated with our investment. We will do the comparison with the same ratios for the past period, i.e. for the period of six months to July 2009. Having done calculations by applying the appropriate formulas we have received results as follow. The investment ratios. 6 months to July 2010 6 months to July 2009 Dividend cover ratioShow MoreRelatedSample Essay1741 Words   |  7 Pagesproposal development in collaboration with Sales, Delivery, Finance and Legal teams for Cognizant Business Consulting in banking and finance domain to the tune of $700K in year 2017 †¢ Recognized subject matter expert in predictive analytics, running analytical techniques training session for colleagues and editor of Analytics newsletter for domain consultants †¢ Excellent communication interpersonal skills, good networking skills and ability to multi-task †¢ Organized thought process and well-structuredRead MoreAn International Financial Services Group6096 Words   |  25 PagesAbout Prudential Prudential PLC is an international financial services group with significant operations in Asia, the US and the UK. They serve around 24 million insurance customers and have  £496 billion of assets under management. Prudential was founded in London in 1848 on the principles of integrity, security and prudence, and they still adhere to those principles today. The Prudential Group is divided into four business units, each of which has a clearly defined set of objectives within itsRead MoreTypes Of Project Selection Models6139 Words   |  25 PagesQuestion # 1 (25 points): Briefly summarize two types of project selection models. Provide examples of each and indicate how they apply to projects. Be logical and analytical on your respond. Types of Project Selection Models: Of the two fundamental types of choice models (numeric and nonnumeric), nonnumeric models are more seasoned and easier and have just a couple subtypes to consider. We analyze them first.  ·Non-Numeric Models: These incorporate the accompanying: 1. The Sacred Cow: For thisRead MoreAcca P7 Notes24991 Words   |  100 Pages13 CHAPTER 4 – ASSIGNMENTS I: THE AUDIT OF FINANCIAL STATEMENTS 16 CHAPTER 5 – ASSIGNMENTS II: GROUP AUDITS 42 CHAPTER 6 – AUDIT REPORTS AND OTHER REPORTS 45 CHAPTER 7 – ASSIGNMENTS III: OTHER ASSIGNMENTS 57 CHAPTER 8 – CURRENT ISSUES AND DEVELOPMENTS 63 INTRODUCTION TO THE PAPER AIM OF THE PAPER The aim of the paper is to apply relevant knowledge, skills and exerciseprofessional judgement in analysing, evaluating and concluding and reporting onthe assurance engagement and other auditRead MoreInternational4856 Words   |  20 Pagesorganisation Number public limited company pages Royal Bank of Scotland Indian rupee Standard Poor acronym for Strengths, Weaknesses, Opportunities, Threats Volume BRICS countries bn e.g. et al. FDI FERA GDP i.e. ibid. IBM IT n.d. Ltd m ml NGO No. plc pp RBS Rs SP SWOT Vol. List of Tables III II. List of Tables Table 1: Overview of Divestment Reasons in Emerging Markets ............................... 5 Table 2: Projected percentage of world GDP .................................Read MoreEssay about Burberry Strategic Analysis3193 Words   |  13 PagesExecutive Summary1 Strategic Review A)Strategic analysis of Burberry i. Environmental Analysis†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦1-3 ii. Resources and competence analysis†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.3-4 iii. Purpose/culture/stakeholder analysis4 B) Recommendation for future development i. Three options suggested using TOWS Matrix5-6 ii. Chosen strategic option6 Appendices and Bibliography7-13 Executive Summary This report is a strategic review of Burberry PLC and analyses the EnvironmentalRead MoreMarketing Project of Reckitt Benckiser19417 Words   |  78 Pagesin 1995. Benckiser Johann A. Benckiser founded a business in Germany in 1823. Its main products were industrial chemicals.[6]  Benckiser went public in 1997. 1999 to present The company was formed by a merger between Britains  Reckitt amp; Colman plc  and the Dutch company  Benckiser NV  in December 1999. Bart Becht became CEO of the new company and has been credited for its transformation, focusing on core brands and improving efficiency in the supply chain. The new management team strategy of innovationRead MoreMarketing Project of Reckitt Benckiser19403 Words   |  78 Pages1995. Benckiser Johann A. Benckiser founded a business in Germany in 1823. Its main products were industrial chemicals.[6]  Benckiser went public in 1997. 1999 to present The company was formed by a merger between Britains  Reckitt amp; Colman plc  and the Dutch company  Benckiser NV  in December 1999. Bart Becht became CEO of the new company and has been credited for its transformation, focusing on core brands and improving efficiency in the supply chain. The new management team strategy of innovationRead MoreFeasibility Study on Setting Up an Environmental Laboratory9679 Words   |  39 Pagesall samples using officially approved test methods such as: ASTM (American Society for Testing and Materials), BS (British Standards), EPA (Environmental Protection Agency), APHA (American Public Health Association), AOCS (Association of Official Analytical Chemists), NBS (National Bureau of Standards), API (Association of Petroleum Industry) and In-house methods. Quality Assurance Policy STOOK Environmental Services Company is committed to providing its clients with the highest quality dataRead MoreFeasibility Study on Setting Up an Environmental Laboratory9668 Words   |  39 Pagesall samples using officially approved test methods such as: ASTM (American Society for Testing and Materials), BS (British Standards), EPA (Environmental Protection Agency), APHA (American Public Health Association), AOCS (Association of Official Analytical Chemists), NBS (National Bureau of Standards), API (Association of Petroleum Industry) and In-house methods. Quality Assurance Policy STOOK Environmental Services Company is committed to providing its clients with the highest quality data in

The Disturbing Truth Frida Kahlos My Dress Hangs There...

The Disturbing Truth: Frida Kahlo’s My Dress Hangs There Art is not always pleasant, but neither is society. Art and society have a reflective relationship with one another. During social, religious, and political controversy, artists such as Frida Kahlo incorporated imagery into their portraits of society which are often disturbing to the viewer. The role of an artist often includes acting as a social critic, to show us aspects of our cultural landscape that are unpleasant. In this manner, the art acts as a commentary on the negative aspects of Western civilisation. During the thirties and forties, Kahlo incorporated the hidden realities of economic and social depression into her works. Frida Kahlo was a Mexican artist, most often†¦show more content†¦There are three main aspects of this painting, each representing a different aspect of society. The first and lower part of the painting shows the working class, gathered in desperate and impoverished lines. This shows the lack of compassion available in the American economy. The Bourgeois society is represented in the top half of the painting; tall office towers line the city sky which is a dominating reminder to Americans of a chance for prosperity. The Statue of Liberty sits in the distance; Frida pushes the ideal of Western strength and freedom to the background, which realizes the possibility of American economic failure. The water is a dark grey, reflective of the dreary years of the depression era. A collection of six industrial smoke-pipes reach high from behind the commericialist towers of the city. They seem to acknowledge the defining role of lower class workers and industrial society in the prosperity of America. Emerging from this middle area is a tall brick church. The dark stoned walls give a European look to the landscape, and seem somewhat reminiscent of the Dark Ages in Medieval society. In the stained glass window rests a cross, symbol of Christian faith, corrupted by a snake-like creature. The combination of the church with a historically recognized sign for evil is quite a strong image. It seems as though

Auditing Business Industry Benchmark

Question: Describe about the Auditing for Business Industry Benchmark. Answer: 1. The current ratio of the organization is one, which less than the industry benchmark of 1.8. As such, this indicates the existing financial strength of the organization is moderate and does not match the industry standards. Thus, Messier Jr (2016) stated that the auditing techniques adopted in the business enterprise shall help in identifying the financial strengths as well as the weaknesses of the business enterprise and taking pertinent measures for recovering the situation. As such, the management of the business enterprise has to take the necessary measures in using the auditing tools as an essential technique in presenting authentic and transparent financial statements for the business entity. The days in receivables, technique indicates 8 days, when compared to the industry benchmark of seven days. As such, the management of the business entity has to take review measures in reducing the amount of debtors period for the development of the organization goals and the objective s. In the context of inventory turnover, the audited period of the organization is 3 days and this is exactly the industry benchmark. According to Arens et al. (2012), the inventory turnover refers the number of times the inventory has been used in a particular year. In the context of Nirvana Pty Ltd., this is the same as compared to the industry benchmark of 3 days. In this regard, the auditing procedures in the business organization shall relate to the recognizing the financial constituents that has assisted the entity in its growth. Here, the internal audit department has to play a pivotal role in determining the financial constituents of Nirvana Pty ltd. Therefore, the inventory ratio of the company has to be considered healthy. The debt equity ratio of the company is 0.50. Therefore, the percentage of the debt to the equity shall be called substantial. However, this is not a satisfactory debt equity ratio when compared to the industry of benchmark of 0.20. The management of the brand shall has to play a decisive role in assessing the reasons behind such rising debt in the organization. Thus, the auditing procedures adopted in the business organization shall verify these issues which would have an influence on the inherent financial strength of the organization. According to Biggs et al. (2012), there would be substantial business risk that a business entity can face where the portion of debt is greater than the presence of equity in the business entity. As such, this is a pertinent business risk that the company is facing in the context of the long-term organizational goals and the objectives of the business enterprise. Therefore, the total ratio analysis procedures of the business enterprise would reflect that the financial situation of the company can be shown as moderate. The current ratio of the company shows that the company does not have enough financial resource to pay off the short term loans of the company. In this regard, it can be stated that the auditors of the company has to pay an active in analyzing he ratio analysis techniques of the organization. Besides this, there are several sources that the company gathers external financing for the business organization. Through the auditing techniques implemented in business entity these sources of income has to be evaluated to measure the financial condition of the business entity Therefore, the operational department of Nirvana Pty Ltd has to ensure that there are no wastage of funds for the business entity. Lothe (2013) stated that on the basis of the ratio analysis of the company, the audit plan of the organization shall have to be implemented to identify the existing defiencies in the financial statements in the annual reports of the company. In this regard, it can be stated that the financial situation of the company is one of the considerations that has to be taken into account, while implementing the auditing policies in the business enterprise. In addition, the nature of the firm where the firm is operating is another determining factor on the auditing policies implemented in the business organization. According to Boritz and Huo (2013), the firms operation in the exclusive or the niche cat egory segment shall have different auditing measure than in business organizations, which caters to the masses. The measure of accounting taken in assessing the existing financial assets of the company is another essential consideration that has to be revaluated in the auditing procedures of a business entity. In addition, Voiculescu and Bumbescu (2014) noted that the ratio analysis techniques offers the relevant financial information to the auditors to take essential financial decisions. Besides this, the ratio analysis techniques shall help in making financial decisions for the entity. In the context of the Nirvana Produce Pty ltd, the auditor has to understand that the change in the composition of the company would have an influence on the financial structure of the company. Due to the structural changes in the company, there shall be enormous influence on the financial strength of the company. Besides this, the company has to make the necessary alterations in the operational pol icies of the company. As such, activities like this would have additional expenses on the production, operational as well as manufacturing activities of the company. Therefore, such factors shall have to be considered in assessing the financial position of the company at the end of the year. Lenz and Sarens (2012) stated that both current ratio as well as the debt equity ratio of Ni reflects the essential financial state of the company. Therefore, auditors have to consider such financial information of the company in giving essential advice to the company. Budescut et al.(2012) stated that the accounting measurement in the company can be classified as fair value method or the historical value method. The measurement of the assets of the business entity would have to be dependent on the nature of the measurement method chosen in the business organization. The Fair value method of accounting chosen shall measure assets based on their present value which is in contrast to the historical value method. 2. The internal control system is a systematic procedure of recording goods and buying the cash payments in the business entity. As such, the operational procedure in the business entity an effective manner, that would prevent any discrepancy in the operational procedures of the entity. Chandler and Edwards (2014) stated that the electronic funds transfer ( EFT) is an effective tool that would ensure that the payment of cash transactions can be easily achieved through the transfer of cash to another payment, in a negligible amount of time and effort. This method gives the additional time to the consumers to select goods as per their choices and preferences at the store. In addition, the bookkeeper plays a pivotal role in the recording of cash transactions in the books of accounts in the business organization. As such, the bookkeeper in the organization maintains the creditors ledger and reconciles the cash on a daily basis. The bookkeeper in the organization approves the payment of g oods in the business enterprise and states the bank account on a monthly basis. Contessotto and Moroney (2014) stated that the accounting software followed in the business organization comprises of order/sales, purchase / creditors as well as the payroll processes in the business organizations has to be correctly assessed to facilitate the organization goals and the objectives of the business entity. Therefore, the accounting software in the business organization has been playing a pivotal role in the recording of the cash transactions in a business enterprise. The warehouse staff in a business enterprise is to maintain the goods in the operations procedure of the business organization. The sales clerk in the business organization would take phone and email orders and would also develop the buying slips for the consumers coming into buy the goods. As such, the warehouse staff as well as the buying staff in the business organization have used these slips. Thus, the total process is a systematic procedure that would assist the business organization in maintaining authenticity of any financial transactions implemented in the business organization., However, there are certain discrepancies present in operational as well as financial processes of the business entity. In this regard, it can be stated that the customer payment as well as the cash recording procedure in the business entity have to be considered. Evetts (2014) stated that this is a very lengthy and time-consuming process and has a considerable impact on the operational processes of the business entity. In addition, there were a significant number of short payments, that can have an adverse influence on the operational and the financial policies of a business enterprise. Besides this, the accounting software implemented in Nirvana Pty Ltd organizations shall have to match with the operational policies of the business entity. Furnham and Gunter (2015) mentioned that the accounting software that is implemented in the business organization should help in the financial analysis of the organization. As such, the accounting software that is implemented in the case of this shall be helpful in analyzing the financial situation of the business entity and take corrective measures for organizational growth. This is not possible in the case of the accounting software that is being implemented in the business entity. Besides this, Kumar and Sharma (2015), the electronic funds transfer that is being adopted in the business organization is not always authentic and would have an influence on the operational procedures implemented in the business entity. The internal control system that is implemented in the business organization does not facilitate coordination between the various departments in the business organization. Griffith et al. (2012) stated that the auditing procedures of the business entity and have an impact on the operational procedures of Nirvana Pty Ltd. To facilitate the external procedure of the business enterprise, there must be proper coordination between the various department. In the internal auditing procedures, there is no system of external audit followed in the business organization. The management of business enterprise shall have to implement frequent monitoring measures implemented in the business organization. In addition, the auditing measures followed in a business enterprise would have to take proactive measures in res olving organizational growth and prosperity in the international market. The audit risk in the business organization shall have to be reduced, in the context of the financial policies followed in the business organization. Hayes et al. (2014) stated that the auditing procedures implemented in the business organization should have to be re-innovated to ensure financial sustainability and growth in the international market. Using advanced accounting software shall help to considerably reduce the errors in the financial policies of the company (Srivastava and Shafer 2012). The recent structural changes in the business organization shall have to be considered in forming the financial strategies of the business entity. The cash recording procedure in the business organization is a detailed process that shall consist of many steps. As such, it is a sequential flow of activities that is carried out by many parties in the organization. This increases the chance of any discrepancy towards the financial statements prepared in the annual reports . In this regard, it can be noted that the management of the business organization has to take proactive measures in assessing the existing financial position of the business entity. According to Johnstone et al. (2013), the business enterprise have to measure the past financial statements in a business to understand the financial policies and trends of the business entity. There shall be discrepancies regarding the payment of taxes in the business organization. IF Nirvana Pty Ltd operates in multiple countries, the business entity shall have to payment of taxes, without arising of any legal issues in the business organization. The conversion of the partnership c ompany into a proprietary limited company shall incur business expenses of the business entity. The business entity shall currently require external funding for rising of the company funds. As such, this situation of the company shall have to be assessed in a particular manner to help the company make maximum utilization of the available funds in the business entity. Therefore, the total financial structure of the company shall have to be re-innovated so that these financial policies so that any wastage of the financial losses of the company has to be prevented. 3. The audit approach in the case of the networked personal computer head accounting software shall depend on many factors. In this regard, it can be stated that the benefits of the accounting software in the business organization would have to be judged on its usage in preparing the year-ended annual statements of the. The audit procedure shall also be emphasizing in the cost of running the operations. The audit software that is implemented in Nirvana Pty Ltd. would consist of a number of functions like sales credit ledger as well as recording of transactions in the business entity. Thus, the accounting software has been playing a proper role for the development of the financial policies in a business enterprise. According to Porter et al. (2014), the auditing procedures followed would have to be evaluated in the context of the organization procedures in the business entity. Besides this, the present financial issues of business entity have to be assessed in an appropriate manner to find out the causes of the discrepancies in the business organization. It is the responsibility of the auditor to verify each voucher of the daily financial transactions of the business entity. Peters (2012) stated that this would reduce the capital expenses of the business organization and lead the business organization to a path of growth. In this regard, it can be stated that the auditors have to perform intensive audit research of the business entity. The CAAT audit procedure would help the business enterprise in attaining the audit objectives. These include the engagement management software as well as the generalized audit software. As such, the benefits of using such computer aided auditing techniques are as follows: Facilitating sharing of information amongst the group members thereby ensuring reviewing of the work done Proper workflow standardization Due to the paperless nature of storing of data, data cannot be easily lost. In addition, there is no risk of losing the lost data due to the lower storage requirements. According to Rust et al. (2011), the most common audit software are teammate, Pentana as well as APEX and MKInsight. In the context of Nirvana Pty Ltd, these audit softwares would be helpful in assessing the financial situation of the business entity The Generalized audit software has a pertaining function that is to store data. Chandler and Edwards (2014) stated that a generalized audit software can be used to identify and assess vast financial data to identify the errors in the year-ended financial statements present in the annual reports of the company. As such, it can be said that there are several benefits in using the generalized audit accounting software. These includes the following Improving the efficiencies of the automating manual procedures in the business entity More detailed insight of the financial statements can be achieved through implementing generalized auditing procedures. More in-depth evaluation of the financial statements can be available to the auditor. According to Evetts (2014), the generalized auditing softwares that are available to the audits software are TOPCAATs, ACL as well as IDEA. In the context of Nirvana Pty Ltd., the generalized audit software as well as the engagement Management software can be used in determining the operational policies of the business entity. The N P has an extensive financial policy that can be used in determining the financial strategies of the business enterprise. The generalized audit software and the can be used in establishment of the operational policies of the business entity. In the context of Nirvana Pty Ltd., these CAATs techniques has been essential in gathering the total financial information of the business enterprise and preparing appropriate the financial policies that shall help the business information in attaining business growth and sustainability in the domestic and the International market. Besides this, the CAATs in the auditing process would assist Nirvana Pty Ltd in structuring the auditing process towards a specific objective. In conducting the audit approach of the network personal based-accounting the following auditing steps can be taken. Assess the operational expense of the business organization- The existing operational expenses of the organization should be accessed through the auditing expenses incurred in a entiy (Tabor 2013). In this context, it can be noted that auditing tools shall consist of the necessity features that shall help the business enterprise in recognizing the errors that would have an influence on the assessment of the financial position of a business entity. b. Checking of vouchers - The vouchers in the organization would have to be regularly checked regularly to prepare authentic financial statements for the business entity. Chandler and Edwards (2014) mentioned that the vouchers in the organization have to be monitored, to assess the cash expenses of the organization. The monitoring of the vouchers assist the business entity in identifying the weaknesses in the total business functionalities of the organization Use of technology - The technology has to be used in an appropriate manner to reduce manual workload. As such, the use of technology has been necessary for the business entity for the development of goals and the objectives of a business enterprise. According to Arens et al. (2012), the use of technology has been effective can bring down the auditing costs and the time. Therefore, technology would have to be extensively used in bringing about the necessary changes in the financial policies of the business entity. Past financial reports The past financial reports shall have to be assessed to assess the existing financial trends of the business and compare it with the past years financial records. The past years financial record shall provide a glimpse of the financial situation of the organization, and thereby leading the entity towards achieving greater financial sustainability. References Arens, A.A., Elder, R.J. Beasley, M.S., (2012). Auditing assurance services: an integrated approach. Prentice Hal l Biggs, S.F., Mock, T.J. Watkins, P.R., (2012). Auditor's use of analytical review in audit program design. Accounting Review, pp.148-161. Boritz, J.E. Huo, K., 2013. Business Models Audit Risk Assessment: An Investigation of Alternative Information Presentation Techniques. In CAAA Annual Conference. Budescu, D.V., Peecher, M.E. Solomon, I., (2012). The joint influence of the extent nature of audit evidence, materiality thresholds, misstatement type on achieved audit risk. Auditing: A Journal of Practice Theory, 31(2), pp.19-41. Chandler, R.A. Edwards, J.R., (2014). Recurring Issues in Auditing (RLE Accounting): Professional Debate 1875-1900. Routledge. Contessotto, C. 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