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Why did the British think they had to impose tighter controls and more financial obligations on the American colonists?
The British felt that the American Colonists should pay to bear the costs relating to their country's defense. The British also felt that they were evading the laws that regulated imperial trade. The war that ended in 1763, brought a great debt of about 122 million pounds to the British treasury. Hence the need for tighter regulations on the American Colonists.
What are the obligations of federal agencies with regard to internal controls?
Assess and document their internal controls over financial reporting. Document their assessment of the effectiveness and reliability of those internal controls. Provide a separate assurance statement
What is CFO and Controller?
Cheif Financial Officer - Controls the financial aspects of a company.
What are internal controls in accounting?
Internal controls in accounting are systems set in place to regulate the financial process. This ensures valid financial statements and allows businesses to track progress on their financial goals.
Which piece of legislation is not based on financial internal controls?
FISMA
How did the French and Indian War change the relationship between the British and their North American colonists. Focus on the economic changes England tried to place on the colonists?
The French and Indian War significantly altered the relationship between the British and their North American colonists by leading Britain to impose stricter economic controls and taxes to cover war debts and fund colonial defense. The implementation of measures such as the Stamp Act and the Townshend Acts aimed to generate revenue directly from the colonies, which angered many colonists who felt they were being unfairly taxed without representation. This shift fostered growing resentment and a sense of unity among the colonists, ultimately sowing the seeds for the American Revolution.
Does an unqualified report on internal controls over financial reporting imply that the company does not have any significant deficiencies in controls?
yes
What types of controls does Newell use?
Newell Brands employs a variety of controls to manage its operations effectively, including financial controls, operational controls, and quality controls. Financial controls help in budgeting and monitoring expenses, ensuring profitability. Operational controls focus on supply chain efficiency and inventory management, while quality controls ensure that products meet safety and performance standards. Additionally, Newell leverages performance metrics and data analytics to drive decision-making and continuous improvement across its brands.
What is finacial control?
Financial controls ensure that the resources of an organization are correctly and efficiently utilized.
Why did the british feel they had a right to tax the colonies?
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What application do management information systems have in financial management?
The chief financial officer analyzes historical and current financial activity, projects future financial needs, and monitors and controls the use of funds over time using the information developed by the MIS department.
Components of financial information systems?
There are six major components of financial information systems. Those components are people, procedure and instruction, data, software, IT infrastructure and internal controls.
