Customers can now track latest deals on airfares, laptops and other electronic product. This page is updated on real-time basis. Visit www.novelty-shoppers.com/deals.
Thursday, September 4, 2008
Dedicated page for hot deals
Customers can now track latest deals on airfares, laptops and other electronic product. This page is updated on real-time basis. Visit www.novelty-shoppers.com/deals.
Saturday, August 30, 2008
LAST DAY today
Today, Aug 31, 2008 is the last day for hotdeals on TOSHIBA laptop computers.
See www.novelty-shoppers.com for details.
See www.novelty-shoppers.com for details.
Friday, August 29, 2008
Have you heard of Graphology?
Of course it is not a study about "graphs" as the name implies. Its a study about handwriting and what it tells about a person in terms of personality, character, and many more. Remember the famous adage that "no two individuals are exactly alike" . Just like handwriting, " no two individuals have exactly the same handwriting". There you go.
Wednesday, August 27, 2008
Gear up for the "ber" shopping
Months ending in "ber" is just few days away. Smell of Christmas is on the way. Look for your gift ideas at www.novelty-shoppers.com. For that, ones your family and relatives would ask for "Pasalubong" or "Oleh Oleh". you'd be ready what to tell. You have wide variety of choices at very reasonable prices. Like buying them from the "outlet" malls.
Saturday, August 23, 2008
I Wished You Had A Dream
Part One ( of 2 Parts)
I Wished You Had A Dream
By A. De Forres
I wished one night you had a dream:
Across the seas you're crossing by
Showers of petals pouring from the sky,
Dancing and waving like winter snowfalls,
One by one they’re settling, on the beach you’re headed for.
Eagerly wanting to land, and excited to reach shore, you pray:
God, grant me the wisdom to understand what’s beneath and beyond what I see.
Endear my hearts with joyful thoughts of what these things are meant to be.
Bless me with the courage to accept the things that are up to me,
but most of all, grant me the strength to endure a few miles more, of paddling this unfriendly sea.
Before your eyes unfold, mystical sights of heavenly gestures never been told.
Sandy dunes and rocky hills turned white, embossed with petals holding each other tight.
Stones of all shapes, veiled with silky mantles as wide as the ocean fades.
Trees with branches adorned with silky laces like favourite old Christmas trees.
Colourful flowers of variant shapes and vibrant lustres, peeping and dancing in glorious hiss
Birds, bees and butterflies, crossing and gazing like fireflies in moonlight bliss.
Walking, creeping, crawling and chirping, all forms they come with heart enflamed to welcome a dear princess, long gone but always treasured.
Slowly you walk with awe, touching everything your hands could reach.
Tossing gleefully, you play like little princess in winter morning treats.
You sing and dance, swirling and swinging like Maria of The Sound of Music fame.
You sing “The Prayer” song with gusto like Celine Dion, a pretty and vibrant dame,
You play with all creatures like dear pets abound Noah’s Arc of yesteryears.
In all, you consume yourself with so much love, peace and joy in paradise wonders.
No fear, no rancour, no reservations nor doubts you ask :
God what have I done so well, and who have I become to deserve these Blessings?
__________________________________________________________________
No part of this writing may be copied or reproduced without prior written authorization or permission from the author.
Copyright : Adeforres -2008 . All rights reserved-
I Wished You Had A Dream
Part One
I Wished You Had A Dream
By A. De Forres
I wished one night you had a dream:
Across the seas you're crossing by
Showers of petals pouring from the sky,
Dancing and waving like winter snowfalls,
One by one they’re settling, on the beach you’re headed for.
Eagerly wanting to land, and excited to reach shore, you pray:
God, grant me the wisdom to understand what’s beneath and beyond what I see.
Endear my hearts with joyful thoughts of what these things are meant to be.
Bless me with the courage to accept the things that are up to me,
but most of all, grant me the strength to endure a few miles more, of paddling this unfriendly sea.
Before your eyes unfold, mystical sights of heavenly gestures never been told.
Sandy dunes and rocky hills turned white, embossed with petals holding each other tight.
Stones of all shapes, veiled with silky mantles as wide as the ocean fades.
Trees with branches adorned with silky laces like favourite old Christmas trees.
Colourful flowers of variant shapes and vibrant lustres, peeping and dancing in glorious hiss
Birds, bees and butterflies, crossing and gazing like fireflies in moonlight bliss.
Walking, creeping, crawling and chirping, all forms they come with heart enflamed to welcome a dear princess, long gone but always treasured.
Slowly you walk with awe, touching everything your hands could reach.
Tossing gleefully, you play like little princess in winter morning treats.
You sing and dance, swirling and swinging like Maria of The Sound of Music fame.
You sing “The Prayer” song with gusto like Celine Dion, a pretty and vibrant dame,
You play with all creatures like dear pets abound Noah’s Arc of yesteryears.
In all, you consume yourself with so much love, peace and joy in paradise wonders.
No fear, no rancour, no reservations nor doubts you ask :
God what have I done so well, and who have I become to deserve these Blessings?
__________________________________________________________________
No part of this writing may be copied or reproduced without prior written authorization or permission from the author.
Copyright : Adeforres -2008 . All rights reserved-
I Wished You Had A Dream
Part One
I Wished You Had A Dream
By A. De Forres
I wished one night you had a dream:
Across the seas you're crossing by
Showers of petals pouring from the sky,
Dancing and waving like winter snowfalls,
One by one they’re settling, on the beach you’re headed for.
Eagerly wanting to land, and excited to reach shore, you pray:
God, grant me the wisdom to understand what’s beneath and beyond what I see.
Endear my hearts with joyful thoughts of what these things are meant to be.
Bless me with the courage to accept the things that are up to me,
but most of all, grant me the strength to endure a few miles more, of paddling this unfriendly sea.
Before your eyes unfold, mystical sights of heavenly gestures never been told.
Sandy dunes and rocky hills turned white, embossed with petals holding each other tight.
Stones of all shapes, veiled with silky mantles as wide as the ocean fades.
Trees with branches adorned with silky laces like favourite old Christmas trees.
Colourful flowers of variant shapes and vibrant lustres, peeping and dancing in glorious hiss
Birds, bees and butterflies, crossing and gazing like fireflies in moonlight bliss.
Walking, creeping, crawling and chirping, all forms they come with heart enflamed to welcome a dear princess, long gone but always treasured.
Slowly you walk with awe, touching everything your hands could reach.
Tossing gleefully, you play like little princess in winter morning treats.
You sing and dance, swirling and swinging like Maria of The Sound of Music fame.
You sing “The Prayer” song with gusto like Celine Dion, a pretty and vibrant dame,
You play with all creatures like dear pets abound Noah’s Arc of yesteryears.
In all, you consume yourself with so much love, peace and joy in paradise wonders.
No fear, no rancour, no reservations nor doubts you ask :
God what have I done so well, and who have I become to deserve these Blessings?
__________________________________________________________________
No part of this writing may be copied or reproduced without prior written authorization or permission from the author.
Copyright : Adeforres -2008 . All rights reserved-
Do You Know That It Is Much Easier To Immigrate To Canada Than To The US?
For those among you who are intending to immigrate to Canada, here is a helpful tip you could read from a Filipino-Canadian.
Sunday, February 17, 2008
Keeping Fraud At Bay
Don’t loose sight..keep a third eye and a sixth sense
Frauds don’t happen by accident, there are forces behind it and it is not always for money.
Frauds don’t happen by accident, there are forces behind it and it is not always for money.
Dealing With People
Tips:
People's basic instinct is to do the best they can but there are forces and limitations that prevent them to. They were hired with trust on their qualities and capabilities…..trust them as you would want them to trust you….
People's basic instinct is to do the best they can but there are forces and limitations that prevent them to. They were hired with trust on their qualities and capabilities…..trust them as you would want them to trust you….
Dealing With Auditees
Tips:
Managers wear hats….deal properly for optimum support ……never compromise professional responsibilities….be cool under fire……keep calm and firm.
Managers wear hats….deal properly for optimum support ……never compromise professional responsibilities….be cool under fire……keep calm and firm.
You and the "Auditor" in You"
Tips:
Be alert, critical, creative and be a salesman all the time. You need these to be dynamic
Enhance your skill, practice and be biased for results.
Understand your organizations business and relate with needs
Be alert, critical, creative and be a salesman all the time. You need these to be dynamic
Enhance your skill, practice and be biased for results.
Understand your organizations business and relate with needs
Examples of How Internal Control Is Understood
Even among graduates of accounting and auditing, undertanding internal control seems to be a challenge.
In several pre-hiring interviews I conducted with prospective Internal Auditors, Accounting Staff and even among candidates vying for supervisory positions in either Auditing or Accounting, it was not unusual for me to hear one attempting to define or describe Internal Control as a control exercised or implemented internally. Attempts to further clarify often lead to distinction of external auditing as one being undertaken by External Auditors as opposed to Internal Auditing being undertaken by Internal Auditors.
Instead of dismissing the chance of the applicant outright, I usually took it as a rare chance of exploring further why this so simplistic and almost idiotic answers could come out from supposed literate people on the subject. In most cases, I established that the primordial cause of this lackluster understanding was lack of experience.
I moved on with the so called practitioners. Those who had either been in the practice of accounting or auditing for at least 3-5 years. Indeed, it was gratifying to note that quite a number could readily describe Internal Control verbatim as it is defined in the books. That "it comprises the plan of the organization and all the coordinate methods and measures adopted within the organization to safeguard its assets, check the accuracy and reliability of records, promote operational efficiency and encourage adherence to prescribed policies and procedures".
True to its form and context, we could readily glean the aura of expertise and dependability from the words of the so-called practitioners. However, beaming the next question to test the level of the respondent’s understanding of what were said, a wide array of varying interpretations come about in even more diverse fashion. Again, why? If even among practitioners and supposed experts, they have varying interpretations of what Internal Control is, what more the non-practitioners, the operating managers, personnel and staff.
What about the senior managers who are supposed to be part of the Internal Control Process or at the least, of the Internal Control Structure?
As I continue to run several purposive yet discreet checking on the level of understanding about Internal Controls across various level of functionaries in various organizations, revealing reality comes in to fore. And that is, there is indeed a compendium of misunderstanding or misconception about the subject matter. From a relatively specific subject matter, too often the discussion proceeds and moves around the more general term of “control”.
With the unarguable adjective “Internal” before the word Control, there usually is a convenient way of playing what the whole subject matter meant. To many, Control is associated with either or a combination of the following meanings:
Control is preventing from happening
Control is checking
Control is auditing
Control is cost cutting
Control is monitoring
Control is controlling through policies, procedures, systems
Control is not allowing or disapproving.
Control is cushioning of impact
Control is a tool of management
Control is budgeting
Control is not doing wrong
Control is doing it right the first time
Obviously, there are many other descriptions that could evolved, and indeed, all of the above are correct. They respondents are absolutely right. The question however remains, so what is Internal Control then?.
Certainly, the answer at this point could easily be flawed with a limitless boundary of what other description could be advanced or offered as what indeed internal control is.
In several pre-hiring interviews I conducted with prospective Internal Auditors, Accounting Staff and even among candidates vying for supervisory positions in either Auditing or Accounting, it was not unusual for me to hear one attempting to define or describe Internal Control as a control exercised or implemented internally. Attempts to further clarify often lead to distinction of external auditing as one being undertaken by External Auditors as opposed to Internal Auditing being undertaken by Internal Auditors.
Instead of dismissing the chance of the applicant outright, I usually took it as a rare chance of exploring further why this so simplistic and almost idiotic answers could come out from supposed literate people on the subject. In most cases, I established that the primordial cause of this lackluster understanding was lack of experience.
I moved on with the so called practitioners. Those who had either been in the practice of accounting or auditing for at least 3-5 years. Indeed, it was gratifying to note that quite a number could readily describe Internal Control verbatim as it is defined in the books. That "it comprises the plan of the organization and all the coordinate methods and measures adopted within the organization to safeguard its assets, check the accuracy and reliability of records, promote operational efficiency and encourage adherence to prescribed policies and procedures".
True to its form and context, we could readily glean the aura of expertise and dependability from the words of the so-called practitioners. However, beaming the next question to test the level of the respondent’s understanding of what were said, a wide array of varying interpretations come about in even more diverse fashion. Again, why? If even among practitioners and supposed experts, they have varying interpretations of what Internal Control is, what more the non-practitioners, the operating managers, personnel and staff.
What about the senior managers who are supposed to be part of the Internal Control Process or at the least, of the Internal Control Structure?
As I continue to run several purposive yet discreet checking on the level of understanding about Internal Controls across various level of functionaries in various organizations, revealing reality comes in to fore. And that is, there is indeed a compendium of misunderstanding or misconception about the subject matter. From a relatively specific subject matter, too often the discussion proceeds and moves around the more general term of “control”.
With the unarguable adjective “Internal” before the word Control, there usually is a convenient way of playing what the whole subject matter meant. To many, Control is associated with either or a combination of the following meanings:
Control is preventing from happening
Control is checking
Control is auditing
Control is cost cutting
Control is monitoring
Control is controlling through policies, procedures, systems
Control is not allowing or disapproving.
Control is cushioning of impact
Control is a tool of management
Control is budgeting
Control is not doing wrong
Control is doing it right the first time
Obviously, there are many other descriptions that could evolved, and indeed, all of the above are correct. They respondents are absolutely right. The question however remains, so what is Internal Control then?.
Certainly, the answer at this point could easily be flawed with a limitless boundary of what other description could be advanced or offered as what indeed internal control is.
Misconceptions About Internal Control
Various literatures suggest that there is a variety in which internal control is understood, in the same manner that there are countless ways it is seen to be working across many organizations.
No less than the Public Company Accounting Oversight Board (PCAOB), the business control regulating body created under the US Securities and Exchange Commission through the Sarbanes-Oxley Act of 2002, has acknowledged “there has been confusion over the exact meaning of the term “internal control,” because the definition of the term has evolved through time. Historically, the term “internal control” was applied almost exclusively within the accounting profession”
Good governance is anchored on sound internal controls but internal control concepts per se are complicated and hard to discern even among practitioners and beneficiaries.
No less than the Public Company Accounting Oversight Board (PCAOB), the business control regulating body created under the US Securities and Exchange Commission through the Sarbanes-Oxley Act of 2002, has acknowledged “there has been confusion over the exact meaning of the term “internal control,” because the definition of the term has evolved through time. Historically, the term “internal control” was applied almost exclusively within the accounting profession”
Good governance is anchored on sound internal controls but internal control concepts per se are complicated and hard to discern even among practitioners and beneficiaries.
Basics of Internal Control
What is Internal Control?
Original definition:
“ Internal Control comprises the plan of organization and all the coordinate methods and measures adopted within a business to safeguard its assets, check the accuracy and reliability of its accounting data, promote operational efficiency, and encourage adherences to prescribed managerial policies” 1
1Source: Internal Control, American Institute of Accountants, 1949
Current Definition:
”Internal Control is a process, effected by an entity’s board of directors, management and other personnel, designed to provide reasonable assurance regarding the achievement of objectives in the following categories:
Effectiveness and efficiency of operations.
Reliability of financial reporting
Compliance with applicable laws and regulations.” * 2
2Source: Internal Control Integrated Framework, September 1992, Committee of Sponsoring Organization of the Treadway Commission, page 9
Original definition:
“ Internal Control comprises the plan of organization and all the coordinate methods and measures adopted within a business to safeguard its assets, check the accuracy and reliability of its accounting data, promote operational efficiency, and encourage adherences to prescribed managerial policies” 1
1Source: Internal Control, American Institute of Accountants, 1949
Current Definition:
”Internal Control is a process, effected by an entity’s board of directors, management and other personnel, designed to provide reasonable assurance regarding the achievement of objectives in the following categories:
Effectiveness and efficiency of operations.
Reliability of financial reporting
Compliance with applicable laws and regulations.” * 2
2Source: Internal Control Integrated Framework, September 1992, Committee of Sponsoring Organization of the Treadway Commission, page 9
Saturday, February 9, 2008
Understanding The Basics of Auditing
To put our early discussion into proper perspective, we cant excape from starting with theories. However, I promise you, I will try to make it concise. I will intersperse more of layman's interpretations to make it easier to understand.
General definition ( according to Merriam-Webster dictionary)
Audit - Formal examination of an organization's or individual's accounts or financial situation; the final report of an audit ; a methodical examination and review.
According to audit textbooks,
Audit - Examination of the records and reports of an enterprise by accounting specialists other than those responsible for their preparation.
In practice, audit or auditing is often used to mean review, inspection or examination. Hence you would normally hear different types of audits once an antecedent subject is connected to it. The most common examples of these are: financial audit, operations audit, management audit, IT audit. In some inventive journalism among audit practioners, anything that they do in which they could attach the word " audit" can be labeled as audit. Examples are : inventory audit, payroll audit, fixed asset audit, systems and procedures audit, and so forth. They are all valid and you can come up with your own type of audit and you will get understood. No doubt about it. These type of audits are obviously indicative of what is the object of the audit, or the areas that will be examined.
Another type of audit is according to what general groupings of auditors who perform the audit. Here, you would normally hear about External Auditors and Internal Auditors.
It is very tempting for people even audit professionals to readily offer a distinctive definition as to who these auditors are, and what audits do they perform.
Believe me, in quite a number of pre-employment interviews I did with audit applicants who are mostly CAs and CPAs, when I ask them to distinguish what is Internal Auditing and External Auditing, you know what most of them said? Internal Auditing are audits done by people (employees) inside the company while External Auditing are audits done by people (consultants or auditors from accounting firms) who are outside the company. Perfect isnt it? who can argue with that? well for us in the audit profession, thats a "no brainer" distinction.
In some schools of thoughts, internal and external auditing are considered to be generally the same in scope, afterall they are both auditing. They only differ in terms of who conduct or perform the audit. For people who does not have enough understanding about auditing, that may be fine but for us auditors and accountants, thats a BIG NO.
Internal Auditing and External Auditing have entirely different objectives, and these objectives also require different scope, timing, techniques, strategies and even the skills required of the auditors.
As defined,
Internal Auditing is an independent appraisal activity within an organization to check the accuracy and reliability of records and reports, promote operational efficiency, encourage adherence to prescribed policies, procedures, laws ands regulations, and to safegurad the organization's assets.
External Auditing is an independent examination of the organizations records and reports for the primary purpose of expression of an opinion on the fairness and accuracy of presenttaion of the organizations financial condition and results of operation for the period under review., in accordiance with Generally Accepted Accounting Principles (GAAP). While to a certain extent, external auditing may cover some areas normally covered by the internal auditors, their work on such areas are only those that may be incidental to their principal audit work, and often they are not as extensive and thorough.
Copyright 2008 Armando De Forres. All rights reserved.
General definition ( according to Merriam-Webster dictionary)
Audit - Formal examination of an organization's or individual's accounts or financial situation; the final report of an audit ; a methodical examination and review.
According to audit textbooks,
Audit - Examination of the records and reports of an enterprise by accounting specialists other than those responsible for their preparation.
In practice, audit or auditing is often used to mean review, inspection or examination. Hence you would normally hear different types of audits once an antecedent subject is connected to it. The most common examples of these are: financial audit, operations audit, management audit, IT audit. In some inventive journalism among audit practioners, anything that they do in which they could attach the word " audit" can be labeled as audit. Examples are : inventory audit, payroll audit, fixed asset audit, systems and procedures audit, and so forth. They are all valid and you can come up with your own type of audit and you will get understood. No doubt about it. These type of audits are obviously indicative of what is the object of the audit, or the areas that will be examined.
Another type of audit is according to what general groupings of auditors who perform the audit. Here, you would normally hear about External Auditors and Internal Auditors.
It is very tempting for people even audit professionals to readily offer a distinctive definition as to who these auditors are, and what audits do they perform.
Believe me, in quite a number of pre-employment interviews I did with audit applicants who are mostly CAs and CPAs, when I ask them to distinguish what is Internal Auditing and External Auditing, you know what most of them said? Internal Auditing are audits done by people (employees) inside the company while External Auditing are audits done by people (consultants or auditors from accounting firms) who are outside the company. Perfect isnt it? who can argue with that? well for us in the audit profession, thats a "no brainer" distinction.
In some schools of thoughts, internal and external auditing are considered to be generally the same in scope, afterall they are both auditing. They only differ in terms of who conduct or perform the audit. For people who does not have enough understanding about auditing, that may be fine but for us auditors and accountants, thats a BIG NO.
Internal Auditing and External Auditing have entirely different objectives, and these objectives also require different scope, timing, techniques, strategies and even the skills required of the auditors.
As defined,
Internal Auditing is an independent appraisal activity within an organization to check the accuracy and reliability of records and reports, promote operational efficiency, encourage adherence to prescribed policies, procedures, laws ands regulations, and to safegurad the organization's assets.
External Auditing is an independent examination of the organizations records and reports for the primary purpose of expression of an opinion on the fairness and accuracy of presenttaion of the organizations financial condition and results of operation for the period under review., in accordiance with Generally Accepted Accounting Principles (GAAP). While to a certain extent, external auditing may cover some areas normally covered by the internal auditors, their work on such areas are only those that may be incidental to their principal audit work, and often they are not as extensive and thorough.
Copyright 2008 Armando De Forres. All rights reserved.
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