What would we do without cell phones? Have you ever left your phone at home and noticed just how much you needed it throughout the day? Advancements in technology have grown exponentially in the past ten years, from Blackberrys and Nokias to iPhones that can do pretty much anything you could imagine. The first cell phone was invented in 1973, and it took twenty-two years to invent text messaging. Nowadays, texting is one of the most popular means of communication, on par with phone calls. Although text messages and phone calls can achieve the same function of communication, both have their advantages and disadvantages. The advantages of texting are XYZ but the downsides are ABC. Calling has the advantages of DEF, but it could also be problematic because of GHI.
Texting can be fast, simple, and get a reply faster, recorded for later use, can be used as a notepad, and keeps conversations private. Calling makes conversations and interactions feel more personal and professional, safer to use while in a car, and more realistic and emotional. There are several main advantages of texting over calling. The first advantage over calling is that when texting someone, you will get an immediate response a search was done by____ and they found that “90 percent of text messages get read within 3 minutes of delivery”, while when you call someone, the other person might not be able to answer due to inconvenience, or more often they will avoid answering on purpose. The second main advantage of texting over calling, is that all your texts are recorded and are easy to find while you would have to write down what the phone call is about and risk losing what you have written down. There are services that can record the call, it may be hard to find a certain part of the phone call. Another advantage of texting, is that if you are in a situation where you don’t have access to a pen or paper, you could simple text yourself the information so you could access the information at a later time.
The third reason that texting is better than calling is when you are in a situation when having a phone conversation is not possible, or appropriate like on the bus or train. Although texting has its advantages, there are several disadvantages. The first disadvantage is that that language of texting has reached a point to when almost everything is abbreviated. Messages are becoming so condenses that the full meaning of the message isn’t clear to the receiver. The second disadvantage of texting is the lack of tone and emotion that comes with it. An example of this would be when a friend of mine asked if I could hang out with him, I responded saying that I couldn’t and that I was busy. He thought that I said I couldn’t and I was busy in a angry tone when I meant it in a calm tone.
The last disadvantage of texting is that it isn’t in real time like calling someone or talking in real life. When texting, it might take hours for someone to reply while when calling you will get a response immediately. Although texting might have its perks, calling does have some advantages over texting. The first advantage being, it is more professional and personal. I would never make a business deal, or a job interview over text. The second advantage of calling is that conversation is more full. With texting, messages are condensed and can cause misunderstanding.
while with calling, sentences are not condensed and can better explain what the person is saying. The third advantage of calling is the ability to add emotion to your speech. UCLA professor Albert Mehrabian found that 58 percent of communication is through body language, 35 percent through vocal tone, pitch, and emphasis, and a mere 7 percent through content of the message. You can’t infer what the person on the other side of the phone is saying with only the 7 percent you are receiving. You can’t take an important test with only 7 percent of your brain power. Despite the fact that there are many advantages of calling, there are also many disadvantages. The first disadvantage is that there are certain situations where it is inappropriate to call someone such as when they are in the middle of a meeting or in class.
The second disadvantage is that when you want to communicate a simple message across but you don’t have time to have a long conversation it’s hard to do that. The third disadvantage is that people may intentionally not answer the phone call which will make it hard to have a conversation.
Insert surname2 Professor’s name Student’s name Course title Date Internal controls and
Internal controls and fraud prevention
Many companies may not be ready to accept that their businesses are vulnerable to fraud. A report published to the nations by Association of Certified Fraud Examiners, projected that a normal business firm loses 5% of its annual revenue due to fraud. According to the report, fraud inherently involves concealment efforts and many cases are never detected. Organizations are positive to implementing particular ant-fraud controls internally in effort to lessen the opportunities for fraud commitment. First step is that they should understand the ways in which occupational fraud may be carried and determining which internal controls to put into practice.
Occupational fraud schemes according to the report may be put in to three categories and which include; Asset misappropriation which involves cash, property and data theft, Corruption; and Financial statement fraud schemes involving deliberate misrepresentation, misstatement, or omitting financial statement data. Historically, although asset theft has produced lowest average loss, such schemes accounts for the greater part of past reported fraud activities. In the same category, there are ways which an employee may use to steal organizational resources and assets, including fraud disbursement of money and stealing cash receipts such as through fictitious vendors, billing schemes, check tempering and fraudulent cost reimbursement. Analyzing and understanding this entire category is the critical first stride to design a successful control environment in a company and this may assist in detecting and preventing fraudulent activities. Victim organizations which had implemented the following anti-fraud control systems suffered considerably lower loss than those which lacked these controls (Donelson, Dain Matthew Ege, & John McInnis, 2015).
Fraud hotline implementation or web-based portal
This is where both external and internal sources may confidentially and anonymously report suspicious and fraudulent behaviors. Procedures and policies relating to the hotline must be well and clearly publicized by the management in the attempt to endorse and support its practice, implement fraud hotline, especially if accompanied with anti-retaliation policy or whistle-blower rewarding program which can improve the effectiveness of the overall businesses’ control environment by increasing detection perception. Traditionally, the receipt of external or internal tips represents the most common discovery way in each of the fraud scheme categories listed.
Separation of duties
Involves asset custody; transaction authorization which affect those assets and reporting or recording of related transactions. Duty separation underlying theory is that an individual employee must not be in the position of committing and counseling fraudulent activities. The internal processes control must be programmed in a way that an individual responsibilities and roles, as check and balance of other person’s work. Such system may serve to minimize the undetected error risks while limiting the opportunities of misappropriating assets or concealing misstatements intentionally in the financial statements.
Bank account reconciliation and review of management
Involves cyclic account reconciliations and bank statements that may give imminent in to the difference between the business cash balance as per the statement from bank and per the balance sheet, while still giving the completeness and accurateness of the data recorded in the business cash ledger. According to the quantity of the cash transactions and the dimension of the organization, bank reconciliations may take part anywhere in daily or even monthly basis. The bank reconciliation process should also engage adequate separation of duties, in that the bank squaring off, check signer, and cash bookkeeping duties must be separated.
Protection and reconciliation of petty cash
This should be done on a cyclic basis by employees who are authorized. Although the petty cash funds are normally represents the insignificant cash amounts held by an organization, improprieties may signify broader management issues regarding the approach to internal control systems and the business control environment (Onoja, Emmanuel & Haruna Usman, 2015).
Donelson, Dain C., Matthew Ege, and John McInnis. “Internal control weaknesses and financial reporting fraud.” Auditing: A Journal of Practice and Theory (2015).
Onoja, Emmanuel E., and Haruna Usman. “Internal Audit Techniques and Fraud Prevention: A Case Study of Selected Local Government Councils in Bauch State.” Mediterranean Journal of Social Sciences 6.4 (2015): 232.
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