Standardized Testing Is Not Be Completely Honest I Do Not...

Standardize Testing Being completely honest I do not know much about standardized test. I remember having to take them as a student in elementary and junior high. I knew that I would not be receiving a letter grade on these test. I remember never stressing about taking the test. To be honest if I did not understand the question I was the kid that just made a design on the answer sheet. I absolutely was not aware of the reasoning or purpose of test. As a parent, I see my kids stress out about taking the standardize test. As a parent this concerns me. I don t know about you, I don t want my kiddo stressing out about a standardize test. I need to know about these test. How did they come about, what is the purpose, does standardize test benefit students, teachers or schools and are they truly beneficial to my child s education. Standardize test are a result from that No Child Left Behind Act (NCLB). The NCLB became a law in 2002 by President George W. Bush. The reason for NCLB was a growing concern that the American education system was no longer internationally competitive ­Ã‚ ­ - significantly increased the federal role in holding schools responsible for the academic progress of all students. (Klein, 2015). NCLB purpose is to ensure that all children have a fair, equal, and significant opportunity to obtain a high-quality education and reach, at a minimum, proficiency on challenging State academic achievement standards and state academic assessments. This purpose can beShow MoreRelatedStandardized Testing Is Not Be Completely Honest, I Do Not Know About Standardized Test1363 Words   |  6 PagesStandardize Testing Being completely honest, I do not know much about standardized test. I remember having to take them as a student in elementary and junior high. I knew that I would not be receiving a letter grade on these tests. I remember never stressing about taking the test. To be honest if I did not understand the question I was the kid that just made a design on the answer sheet. I absolutely was not aware of the reasoning or purpose of tests. As a parent, I see my kids stress out about takingRead MoreCode Of Ethics Is Absolutely Essential For Every Education Major1297 Words   |  6 Pagescode is labeled Standard 1: Legal Compliance. This code states that an educator must abide by state, federal, and local laws and includes but is not limited to the conviction of a felony, crimes involving moral turpitude; including anything having to do with the sale or possession of drugs, and sexual crimes such as trafficking or assault. If educators fail to follow the law, they are at risk of losing their certificate and will most likely have to be proven guilty or not guilty in order to determineRead MoreEssay on Feasability of Self-Assessment in ESL Classrooms3368 Words   |  14 Pagescomponents of the education. Traditional exams and tests are mostly based on materials taught in the course to meet predetermined objectives. They cannot assess whether or not learners can apply it. To truly understand some new ideas, students need to apply it. My experience as an English teacher provides some ideas to frame my discussion of assessment. Although many teachers think that the scores of the exams and the tests are objective and cannot be wrong, I think that these scores are uncertain they needRead MoreAttention Deficit Hyperactivity Disorder ( Adhd )2303 Words   |  10 Pagesa relatively vague illness, and this sort of variance is frightening. Without any stability in these areas, the impression of ADHD becomes more and more unclear. As someone who has been diagnosed with ADHD, yet does not feel affected by the illness; I believe clarifying the mystery that is ADHD is enormously important and both the public perception and academic research play a role in this. From the beginning of each article, the differences in genres stick out. For the popular articles, the titlesRead MoreToo Far Ahead of the It6117 Words   |  25 Pagesconsensus about Peachtree Healthcare’s long-term aims and how best to achieve them. Paul—like other board members and some in Max’s management inner circle—was applying constant pressure on Max to follow the example of others in the health care industry: Push ahead on standards and on the systems and processes to support them. â€Å"You’ve got all the hospitals doing things differently. You’ve got incompatible technology that’s held together by sweat and ingenuity and, possibly, prayer. Just do what otherRead MoreToyota - a Brief History10847 Words   |  44 PagesToyota and Why It Is So Successful The History of Toyota For organizational convenience I will discuss Toyota history as follows: †¢ The start †¢ The 1940s †¢ The 1950s †¢ Etc. The start. The Toyota Motor Corp. (TMC) had its beginning in 1933 when it was established as a division within the Toyoda Automatic Loom Works, Ltd. The founder of Toyota was Kiichiro Toyoda (1894–1952), the son of Sakichi Toyoda (1867–1930). The values that have underpinned Toyota success startedwith Sakichi who was the sonRead MoreGrading System Rationale6250 Words   |  25 Pageseducators than those associated with grading and reporting student learning. Despite the many debates and multitudes of studies, however, prescriptions for best practice remain elusive. Although teachers generally try to develop grading policies that are honest and fair, strong evidence shows that their practices vary widely, even among those who teach at the same grade level within the same school. In essence, grading is an exercise in professional judgment on the part of teachers. It involves the collectionRead MoreA Concise Guide to Market Research Using Spss71933 Words   |  288 Pagesnoses, 7% to clean mirrors, 3% to clean children’s faces and hands, and 8% use it to remove make-up. Further research led Procter Gamble to believe that the optimal tissue color is blue/yellow and that the package needed to be cubic. Advertising tests showed that the Charmin bear worked well, giving the product an emotional appeal. In the end, Procter Gamble launched Charmin successfully in an already saturated market. In order to gain useful consumer insights, which allowed the company to optimizeRead MoreEmployee Retention Techniques in Wipro9775 Words   |  40 Pages ACKNOWLEDGEMENT I take this opportunity to express my deep gratitude to all those who helped me in the completion of this study. This work is the result of direct and indirect cooperation of various persons to whom, I wish to express my gratitude. It is my proud prerogative to place on record my sincere thanks to I am highly indebted to my faculty guide Mr. GAURAV GUPTA who despite his busy schedule , took out time and helped me with his valuable inputs form time to time . I am highly indebtedRead MoreThe reddit study guide9469 Words   |  38 Pages---------------------------------------------------------------- Good students: How do you go about getting good grades? [Serious]  (self.AskReddit) submitted  1 day ago  *  by  irollon ---------------------------------------------------------------- 18 July 14, Friday Asked by irollon Collated by Salticido Exported to Word by SailboatoMD Contents # Topic Contributor Page Remarks 1 GOAT ME Salticido 2 + Summary 2 Study/Test Environment lshdevanarchist 7 3 Feel the Teacher Hawkian

Child Labor Should Be Banned Worldwide - 1011 Words

Patience Richwine Mr. Bergmann Honors Sophomore English P6 10 October 2016 Child Labor Tired muscles, achy feet, and extreme drowsiness are some of the symptoms children feel after working a long day at the factory or mine. Children all around the world are forced to work in factories, mines, or in agriculture every day. They lose their childhood, education, and possibly their families due to child labor. There is a long history of child labor, with many health risks. Along with health risks there is an education deprivation from the children. Child labor needs to come to an end, and that can only happen if we stand together. Although many countries allow children in the workplace child labor should be banned worldwide. The background history of child labor can be surprising. Although child labor has gone on throughout history it reached it peak during the Industrial Revolution. Children came from poor families who needed the extra couple of dollars they made to keep living.When parents couldn’t afford to raise their child they would sometimes turn them over to an owner of a mill or factory for them to work twelve to eighteen hours a day, only making about one dollar a week.(scholastic.com) Factory and mill owners liked having children in the workplace because children were small enough to fit into spaces where adults could not, they could be paid less than adults and they were easier to control. There were many times that the U.S. tried to pass laws against child laborShow MoreRelatedNegative Effects Of Child Labor In Ghana1583 Words   |  7 PagesLives of little ones are destroyed, when child labor is employed. This is one of the famous slogans that shows the severity and the cruelty of child labor. Child labor refers to work that threatens children’s health and safety or deprives their right to education (Herring). 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Abortion is also an act which violates human rights, technically because the baby in the mother’s womb also has the same right to life that we do. In 2003, there were approximately around forty-two million abortions per year globally, or 115,000 every day. This was a drop from forty-six million in 1995 (In Brief: Facts on Induced Abortion in the United States n.d.). Abortions are currently done by millions and millions of women worldwide to stop undesirable and unintentionalRead MorePhilosophy - Child Labour1582 Words   |  7 PagesPhilosopher- Ian Paul Point: Child Labour can be Stopped by Changing International Trade Policies. -Remaining cases of child labour should be gently taken away following economic improvement - It should be removed slowly and still provide support for families who need it -CHILD LABOUR- unicef defines child labour as- ages 5-11 working one hour or more for wages, or twenty-eight hours at home; ages twelve to twenty-four working fourteen hours or more for wages, or twenty-eight hours atRead MoreShaleen Singh I am writing this policy paper for the laws on abortion, in order to show the1700 Words   |  7 Pages24 weeks into a pregnancy, and partial birth is even permitted in certain states. Today many women get abortions for reasons such as they cannot provide for a child or it interferes with their lifestyle. These are not the only cases however, abortion was made legal for cases like rape, incest, and medical needs that meant the mother or child would die if the pregnancy went full term. Before 1973 abortion was illegal, however they still occurred and were referred to as â€Å"back alley abortions†, whichRead MoreHuman Cloning Is Not More Difficult Than Cloning921 Words   |  4 Pagesthe nucleus of a human egg and replacing it with the nucleus of an existing person (Glannon, p. 89). It is the genetic duplication of an existing person (CGS). Identical twins are a naturally occurring cloning (Science Daily). Several countries worldwide have bans on human cloning (Kilner). The U .S. government has cut funding for cloning research (Kilner). Arguments in favor of human cloning point out the benefits of advancing technology, while those against question the effect it has on human dignityRead MoreMarketing in Coca-Cola1224 Words   |  5 Pagescola is an internationally recognized soft drink company with great and ambitious plans to further grow the brand majority of the soft drinks in the coolers, and in vending machines. The brands include among others, sprite, fanta and so forth on a worldwide scale. SWOT Analysis Strengths Coca cola is the Market leader in soft drinks; the company has massive global appeal with products loaded with exclusively over-romanticizing image, an image many people from all walks of live have taken deeplyRead MoreForced Marriage During The Middle East1729 Words   |  7 PagesThe Reasons of Arranged and forced marriage 1. Family reasons Parental approval for the choice of the spouse is very Important in those Muslims society. In case of complications, the family will come to assist the couple. Anne Goddard of Child Fund International in the article Forced Marriage Continues in Many Countries said that Families are afraid for girls †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. To become pregnant particularly. Parents are in the tradition of practicing forced marriage in order to pass their beliefsRead MoreChild Labor Research Paper4040 Words   |  17 PagesIn the United States, child labor and sweatshops are illegal, and society frowns upon any business that exploits children in the production of goods. Though most would say that they would not support a company that uses child labor to produce its goods, almost everyone has, in fact, knowingly or unknowingly, supported these businesses in one way or another. Children are involved in the production of many of the everyday goods we import from overseas, including the manufacturing of clothes, shoesRead More Child Labor Essay2301 Words   |  10 PagesChild Labor Child labor has been around for long time and it still exists in todays world. Thiskind of labor provides problems or difficulties in the economic world. Child labor is social problem with the rise of industrial production and capitalism. It appeared in earlier ages in agricultural societies when the children all around the world had to work along with 19th century, spreading to many countries. The problems started when many children, younger than ten years old, were employed

Financial Management Woolsworth Ltd.

Question: Discuss about the Financial Management for Woolsworth Ltd. Answer: Introduction Woolsworth Ltd is one of the major Australian retailers with its business spread throughout Australia and New Zealand. It is the second largest company in Australia in earning revenue also the second largest in New Zealand. It is the largest Australian Liquor Takeaway Retailer, and was named worlds largest Liquor takeaway retailer in 2008. Woolsworth has more than 3000 stores which are spread across Australia and New Zealand. They are retailers of food, liquor, petrol, general merchandise, home improvement and hotels. It has an employee base of around 198,000 people (Wesfarmers Limited, 2015). Few of the brands owned by Woolsworth include Endeavour Drinks Group, Big W, Masters Home Improvement, ALH Hospitality Services, etc. this company is regarded as a down to earth and a family oriented company, which strongly believes in ethical values and hard working culture with responsibility. It follows a transparent policy by keeping the customers as the heart of business and decision makin g. In our analysis below, we have studied the qualitative and quantitative details of the company which are supported by important financial ratios, which will the investor to decide if they should or they should not invest in the aforementioned company. Financial statement analysis of the company Woolsworth Ltd - 5 year income statement Particular 2015 2014 2013 2012 2011 Revenue 60,868 60,952 58,674 55,441 54,280 Cost of revenue 44,345 44,475 42,913 40,792 40,186 Gross profit 16,524 16,478 15,762 14,649 14,093 Operating expenses Sales, General and administrative 3,499 10,063 9,616 8,989 8,728 Other operating expenses 9,983 2,882 2,798 2,358 2,316 Total operating expenses 13,482 12,945 12,414 11,348 11,043 Operating income 3,042 3,532 3,347 3,301 3,050 Interest Expense 255 278 410 318 300 Other income (expense) 281 260 278 85 265 Income before income taxes 3,068 3,515 3,215 3,068 3,015 Provision for income taxes 930 1,057 960 885 875 Minority interest -9 7 5 - 16 Other income -9 7 5 - 16 Net income from continuing operations 2,137 2,458 2,255 2,183 2,140 Net income from discontinuing ops 10 -366 Other 9 -7 -5 - -16 Net income 2,146 2,452 2,259 1,817 2,124 Net income available to common shareholders 2,146 2,452 2,259 1,817 2,124 From the above data it is evident that Woolsworth ltd that the revenues of the company have been consistently improving every year. Also, the net profits have continued to follow the trend which is in line with the revenues of the company (Wesfarmers Limited, 2015). The gross profit of the company has maintained its trend of being near to 27%. Also, the company is taking steps to maintain its debt portion of the capital structure; this has been evident from decreased interest expenses in the five years. Following the 5 year details of Woolsworth Balance Sheet: Particulars 2015-06 2014-06 2013-06 2012-06 2011-06 Assets Current assets 7,661 7,175 6,226 5,802 6,593 Non-current assets 17,676 17,030 16,024 15,779 14,502 Total assets 25,337 24,205 22,250 21,581 21,094 Liabilities and stockholders' equity Liabilities Current liabilities 9,169 7,558 6,866 6,766 8,288 Non-current liabilities 5,334 6,394 6,356 6,627 5,213 Stockholders' equity 10,834 10,252 9,028 8,188 7,593 Total liabilities and stockholders' equity 25,337 24,205 22,250 21,581 21,094 From the above extract it is clearly visible that the total assets of the company have increased over the period of five years. This is because of increased operations of the company. There has been a shift of classification of long term and short term liabilities in the current year. The increase in current liabilities is due to increased operations. It can also be seen that the company is trying to reduce its debt ratio, in order to maintain its leverage (Horngren, 2013). Following is the History of earnings of Woolsworth for last five years: Particular 2015 2014 2013 2012 2011 Net income available to common shareholders 2,146 2,452 2,259 1,817 2,124 Earnings per share Basic 1.70 1.97 1.83 1.49 1.73 Diluted 1.70 1.95 1.82 1.48 1.73 Weighted average shares outstanding Basic 1,257 1,248 1,237 1,222 1,216 Diluted 1,260 1,253 1,243 1,228 1,216 EBITDA 4,465 4,789 4,590 4,270 4,173 The earnings history of the company Woolsworth Ltd has been consistent. It has shown growth from the years 2011 to year 2014, but there has been a decline in the earnings in the year 2015. The overall performance of the company has been considerably been good (Wesfarmers Limited, 2015). Ratio Analysis Ratio analysis is an important tool, which is helpful in making investing decisions. Following are the few important ratios for Woolsworth Limited which may help the investor in taking the right decision. Current ratio Current ratio is a type of liquidity and efficiency ratio. It helps the firms to calculate if they have sufficient current assets which can be used to fulfill the obligations of short term liabilities. Current assets are the assets which can be readily converted in to cash, that is, they can be converted into cash within a period of three months. This is not only an effective tool to calculate companys efficiency, but it also helps to have a check on the working capital of the company (Horngren, 2013). Working capital is the blood of an organization. Lack of working capital may halt the production and result in huge losses for the company. An acceptable current ratio is industry based. Usually it lies from the range of 1.5 to 3. In case the current ratio falls below 1, it shows low liquidity and future possibilities of cash crunch for the company. Current Ratio 2015 2014 2013 2012 2011 Current Assets 7,660.90 7,106.10 6,226.10 5,802.10 6,593.00 Current Liabilities 9168.60 7489.50 6866.00 6766.20 8288.30 Current Ratio 0.84 0.95 0.91 0.86 0.80 From the above it is clearly evident that the current ratios of the company from last five years have been below 1. This shows that the company has low liquidity. Though the company is meeting with its liabilities on a timely manner, the company may any point of time have cash crunch which may affect the working of the enterprise. The company showed an effort to bring a positive change in the current ratio in the year 2014 and 2013. But again in the year 2015 the ratio fell to 0.84, which is not very healthy. The company should take measures to improve its liquidity position and its current ratio. P/E ratio The price earnings ratio is the ratio which helps the investor to calculate the price of the share of the company in terms of its earnings. It represents how many times of the earnings of the company is the investor willing to pay for the share of the company. Higher the ratio, it represents investors trust and confidence in the company. It is more of in industry comparison tool among the companies. It can also be said as; the amount the investor is willing to pay for the company per dollar earnings of the company. This helps the investor to calculate the maximum amount it can pay for a companys share. Price Earnings Ratio 2015 2014 2013 2012 2011 Price 26.96 35.22 32.81 26.80 27.75 Earnings for the year 1.71 1.97 1.83 1.49 1.75 Price Earnings Ratio 15.78 17.92 17.97 18.02 15.89 The price earnings ratio of Woolsworth showed an increase in the years 2013 and 2012 but it showed a sudden decline in the year 2015. The price of the share of the company is not only affected by matters which take place inside an organization but it is also affected due to market forces. The price of wools worth was highest in the 2014 with a PE ratio of 17.92. But in the year there was a decline in this ratio, and it reached to the level of 15.78. The company can improve its ratio by improving its operating effectiveness and increasing earnings per share (Spiceland et. al, 2011). Net Profit Margin ratio The net profit margin ratio helps to calculate the percentage of net profit earned on total sales made by the company. It is calculated by dividing the net profits of the company by total sales of the company (Melville, 2013). The level of net profit margin depends on the industry. For example, the information technology industry has a high net profit margin, but that of the retailing sector is very low. Net Profit Margin 2015 2014 2013 2012 2011 Net Income 2137.40 2458.40 2254.90 2179.20 2140.30 Sales Revenue 60,679.10 60,772.80 58,516.40 54,777.10 54,142.90 Net Profit Margin 3.52 4.05 3.85 3.98 3.95 The revue from sales of Wools worth has considerably increased over the period of five years. A steady increase has been seen from the years 2011 to 2014, but a sudden decline in the year 2015 was seen. This decline was evident not only in the net profit margin, but also in the total sales revenue of the company. But the investors need not consider this as a step back as the decline was not too heavy, a little variance may be noticed due to market forces and government policies (Parrino et. al, 2012). Return on Total Assets Return on total Assets Ratio more popularly known as ROTA, is a financial ratio which helps to calculate EBIT as a percentage of total assets of the company. This ratio calculates how efficiently the company is making use of its assets. Higher ratio indicates more efficient use of assets, and lower indicates that the company is not using its operating efficiency totally (Davies Crawford, 2012). Return on Total Assets 2015 2014 2013 2012 2011 Net Income 2137.40 2458.40 2254.90 2179.20 2140.30 Total Assets 25,336.80 24,136.50 22,250.20 21,581.10 21,094.50 Return on Assets 8.44 10.19 10.13 10.10 10.15 The company has maintained its ROTA of approximately 10 every year for four years, but a sudden decline of ROTA to 8.44 was seen in the year 2015. This shows that the company has not efficiently utilized its assets in the current year. It needs to take measures so that the assets can be best put to use. Better utilization of assets will generate better returns and low wastages for the company in future. Debt ratio This ratio helps the investors and the company to calculate the percentage of assets which are financed by funds which are not owned by the company. The lower the ratio, better it is for the company. The company needs to maintain its leverage so that it does not have to face future burden of meeting with its obligations (Brealey et. al, 2011). Debt Ratio 2015 2014 2013 2012 2011 Total Liabilities 14,204.80 13,611.10 12,949.70 13,134.80 13,248.70 Total Assets 25,336.80 24,136.50 22,250.20 21,581.10 21,094.50 Debt Ratio 56.06 56.39 58.20 60.86 62.81 The debt ratio of Woolsworth Ltd has declined over the last five years. The company has maintained its trend and the debt ratio have reached from 62.81% in 2011 to 56.06% in year 2015. This is a positive sign and depicts that the company is trying to lower its debt ownership. This will result in lower interest expenses for the company, increasing its earnings (Northington, 2011). Dividend Discount Model valuation of stock The dividend discount model calculates the share price based on dividend paid by the company and its growth prospects along with the rate of return required by the investors (Albrecht et. al, 2011). It takes into consideration all this information in order to calculate the expected share price of the company. It ascertains the stock price by the following formula: P0 = D1 Re-G In this formula, P0 = Current price of share, D1 = Expected dividend, Re= Current market rate and G= Growth Rate (Albrecht et. al, 2011). In the year 2015 the dividend of Woolsworth was 139 cents, that is $1.39. The growth rate of this dividend is expected to be 5% and the rate of return required is 10%, using this information we calculate the expected share price of Woolsworth Ltd. We get, P0 = 1.39*1.05 = 29.19 0.10-0.05 The share is currently trading at $21.34, the share is trading cheap and the investor should go long. As per the Dividend discount model the value of shares of Woolsworth are $29.19, but in the market it being traded at $21.34. The investor should invest now in the shares of Woolsworth as the price is expected to go up to $29.19 (Needles Powers, 2013). Recommendation The investor should go long on the shares of the shares of Woolsworth. The overall performance of Woolsworth has not been very remarkable in the year 2015, but still the company is expected to generate huge returns in future. The performance of the company has been more or less in level with the other companies in this industry. Therefore, based on all the information above, it is recommended to invest in Woolsworth Ltd. Conclusion As per the information and analysis above, it is clear that though the performance of the company has not been up to the mark in the year 2015, it is expected to generate huge returns in future. The company has the capacity to utilize its assets in more efficient manner in the future which will generate returns for the company (Williams, 2012). Hence, the strong performance of the company is expected to continue in future with growth possibilities. References Albrecht, W., Stice, E. and Stice, J 2011, Financial accounting, Mason, OH: Thomson/South-Western. Brealey, R., Myers, S. and Allen, F 2011, Principles of corporate finance, New York: McGraw-Hill/Irwin. Davies, T. and Crawford, I 2012, Financial accounting, Harlow, England: Pearson. Horngren, C 2013, Financial accounting, Frenchs Forest, N.S.W: Pearson Australia Group. Melville, A 2013, International Financial Reporting a Practical Guide, 4th edition, Pearson, Education Limited, UK Needles, B.E. Powers, M 2013, Principles of Financial Accounting, Financial Accounting Series: Cengage Learning. Northington, S 2011, Finance, New York, NY: Ferguson's. Parrino, R., Kidwell, D. and Bates, T 2012, Fundamentals of corporate finance, Hoboken, NJ: Wiley Spiceland, J., Thomas, W. and Herrmann, D 2011, Financial accounting, New York: McGraw-Hill/Irwin, University Press Wesfarmers Limited 2015, Wesfarmers Limited Annual Report and accounts 2015, viewed 13 July 2016, https://www.asx.com.au/asx/research/company.do#!/WEShttps://www.wesfarmers.com.au/ Williams, J 2012, Financial accounting, New York: McGraw-Hill/Irwin.

System Integrity and Validation free essay sample

Computer assisted auditing tools and techniques CAATs is highly recommend for Kudler finer Foods. The ability to share information with clients and auditor’s is one of the selling points. The main selling point of using CAATs is that every avenue of Kudler’s accounting information system will be reviewed and will ensure Kudler Finer Foods that their system integrity is intacted as well as the validation of the system. In the brief to follow will explain why using computer technology and CAATs makes the best business sense. System Integrity and Validation Kudler Finer Foods has come to the accounting firm in search of recommendations regarding the companies, computer information system, automated process of their accounting information system, data table analysis, internal control and risk evaluation, and an audit proposal. Kudler’s recent visit was warranted by concerns of the company’s system integrity and validation. Kudler Finer Foods has an excellent rapport with the accounting firm. We will write a custom essay sample on System Integrity and Validation or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The accounting firm will inform Kudler on the selected auditing techniques the accounting firm will use to validate data, and their system integrity. The firm will provide an explanation of the functions of the audit productivity software, followed by an explanation of the uses in the systems design. Computer Assisted Auditing Techniques used to Validate Data and System Integrity In today’s auditing world, companies use accounting information systems to manage the companies business electronically. In the past, before computers aided in the organization of business documents, audits were conducted on paper. Audits are performed using Computer Assisted Audit Tools and Techniques (CAATTs) or Computer Assisted Audit Techniques (CAATs). Computer assisted audit tools and techniques (CAATTs) is defined as the software used to enhance the auditor’s productivity and used to extract data and analysis. The second T in CAATTs refers to the techniques used to enhance the effectiveness and efficiency of the audit. The other form of computer assisted audit tools and techniques is CAAT, which has one t. Because this computer assisted audit has one t, the single t represents techniques. CAATs by definition, has the same meaning as CAATTs with the exception of enhanced auditor’s productivity and extracting data and analysis (Hunton, Bryant, Bagranoff, 2004, p. 78). Using CAATs for information technology audits consists of the auditor’s following 10- steps. Each of the steps will cover a wide area of objectives, processes, and identify different task that need to be performed. The 10- steps to using CAATs will be cover in the PowerPoint presentation. Validating data will be accomplished by running a series o f test data to ensure the system is updating and running properly. The test data is made up by the auditor to establish that the results received are the results the auditor is looking for. This particular type of test will be conducted throughout each of the systems to confirm the each system is working. The integrity of the system will also be tested in a similar style. Testing the integrity of the system occurs in step seven of the 10 step process. Function of Audit Productivity Software Audit Productivity Software aids in the individual auditor’s productivity. Audit productivity software is constructed of five different programs. The five programs start in this sequence, electronic working papers, groupware, ngagement management, reference libraries, and the program document management. Each of these programs enables the auditor’s to complete his or her personal productivity. Electronic working papers were once done manually and can be automated enabling the efficiency of the auditor’s. E-work papers enable the auditor’s to share client’s information and make changes electronically. After the auditor’s have made the appropri ate corrections GAAP compliant financial statement can be generated automatically (Hunton, Bryant, Bagranoff, 2004, p. 179). Groupware allows the clients and other auditor’s to share the information found using a couple of different programs. These programs are common groupware programs the auditor’s and their client’s use such as Lotus Notes, Novell GroupWise, and Microsoft Exchange. The other remaining software’s are Time and Billing, Reference Libraries, and Document Management. The remaining software’s are very important. Time and Billing affect the cash flow because business conducted may be conducted in different time zones and need to be billed correctly to receive payment on time. Reference Libraries are as they sound, company reference libraries store the company’s information is relevant to auditor’s to complete the audit throughout the companies different items. Document management allows the company to save hard copy document to files in the computer that can be viewed easily by auditor’s using the Internet. Audit productivity Software use in the Systems Design Kudler Finer Foods has a strong accounting information system in place serving three different locations. The industry specific accounting information system used by Kudler Fine Foods would benefit from the use of audit productivity software. The reason the audit productivity software would work with Kudler’s system design is because the information can be easily viewed by their auditor’s and clients using the Internet, reducing the travel time the auditors would waste traveling to each of the three location’s. Conclusion Kudler Finer Foods needs to ensure their accounting information system maintains system integrity and validation. System Integrity and Validation free essay sample Preface Kudler Fine Foods located in San Diego, California is a specialty food store that is continuing to grow. Due to the company’s growth, it is necessary for Kudler to make a better use of technology for all aspects of the business. Currently Kudler process a large amount of data through computer programs which is used between all three locations, but with upcoming expansions, Kudler needs the ability to track all of that information and also be confident that the information is reliable. With that being said, Kudler would benefit greatly from Computer Assisted Auditing Techniques (CAATs). It is recommended that Kudler use CAATs, because it will assist with streamlining the IT audit process. CAATs are techniques that â€Å"are used to increase the efficiency and effectiveness of the audit function† (Hunton, Bryant, Bagranoff, 2004, pg. 178). Not only will CAATs assist with making Kudler’s audits go more smoothly, but it will also assist auditors with obtaining more reliable, relevant, sufficient, and useful information. We will write a custom essay sample on System Integrity and Validation or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page There are 10 key steps of CAATs that can be implemented that will assist Kudler in creating a framework for their audits. CAATs are divided into two techniques that will be beneficial to Kudler. The first is validating application integrity. The purpose of this technique is to find whether the source code has been compromised. Verifying the overall integrity of the applications is the second CAATs technique. This technique’s objective is to ensure that the data was imported correctly and also to find any irregularities within the data. Due to the fact that the business continues to grow, the use of CAATs will only assist Kudler in its growth. If Kudler goes with the recommendation to incorporate CAATs, it will assist in streamlining the auditing process. System Integrity and Validation Recommendations were made to Kudler to implement CAATs into the auditing process. This implementation will be beneficial to the company as far as validating and verifying information. The use of audit productivity software would allow an organization to streamline and automate processes. Organizations can take it a step further and use audit productivity software to assist with the desi gn of computer software. The following brief will discuss CAATs and audit productivity software. Computer Assisted Auditing Techniques Computer Assisted Auditing Techniques (CAATs) can be used to both validate application integrity and to verify data integrity. Data validation determines whether the source code has been compromised. The applications can be validated through test data, parallel simulation, or integrated test facilities. Test data is simply fabricated data entered into the system by the auditor to test the integrity of the system. For example, the auditor may process a payable through the system by creating a vendor and entering an amount to see the process of actually cutting a check from the system. An integrated test facility (ITF) can test applications as they are used on a daily basis. â€Å"The ITF approach integrates the auditor’s contrived test data through the client’s system along with the normal transaction processing† (Hunton, Bryant, Bagranoff, 2004, pg. 189). During the ITF process, auditors must ensure that the client’s data is not corrupted. All information entered into the system by the auditor should be reversed. Verifying data integrity is ensuring that the data was imported properly and without any irregularities. There are a number of audit tools that can be used to assist with verify integrity such as extracting data, importing it into ACL, and stratifying. Detecting fraud is important when verifying integrity. Audit Productivity Software Functions Audit productivity software provides computerized audit solutions and allows companies to manage and keep track of audit reports. Audit productivity software has a number of functions such as measuring productivity, resource optimization, data management, and automation. Measuring productivity is simply appraising the performance of the organizations audit reporting. By using audit productivity software, auditors and clients are able to get the best use of all of their resources. For example, each staff member’s time will be used adequately. The auditors’ time will be focused on testing the information in the system, instead of spending hours of time sorting through information deciding what to test. The clients can spend their time completing auditor requests. Data management allows auditors and clients to keep track of all of the information entered into the system by the auditors as well as original information entered by clients. Audit productivity software also allows for automation of the auditing process. Information in multiple systems can be integrated with audit productivity software. Automation can streamline the auditing process for any organization, and as mentioned previously, it can increase productivity of not only the auditor but for the client as well. Using Audit Productivity Software for System Design Using the audit productivity software can be beneficial when designing systems for an organization. Audit productivity software can assist with minimizing discrepancies between the company software and the actual audit software. The use of audit productivity software provides functionality to the audit process. That same software could be used to help with the design of an organization’s software systems. Software such as electronic working papers, groupware, and time and billing software can all be implemented when designing software systems. If groupware is implemented these systems would have the ability to not only share files, but schedules and calendars as well. Time and billing software is implemented, auditors can better track time spent within that system according to their unique login. Implementation of electronic working papers assists with everything from daily journal entries to financial statements. Using this software to create a framework for the design of new software would only ensure that audits went smoothly. The audit process can go with little to no incidence, if organizations and auditors would use computerized audit techniques, and audit productivity software. Both the CAATs and the productivity software assist with creating a more automated process. As audit automation increases the time and energy put into the actual audit decreases. Organizations as well as auditors can be more confident that the audit material is reliable and efficient. ? References Apollo Group, Inc. (2011). Kudler Fine Foods. Retrieved from https://ecampus. phoenix. edu/secure/aapd/cist/vop/Business/Kudler2/internet/index. asp Bagranoff, N. A. , Simkin, M. G. , Strand Norman, C. (2008). Core concepts of accounting information systems (10th ed). New York: Wiley Sons.