Ica Gh Syslabus

Objectives and Expected Performance Outcome of each part THE INSTITUTE OF CHARTERED ACCOUNTANTS (GHANA) Syllabus for ICAG Qualifying Examinations ACCRA 2009 Institute of Chartered Accountants, Ghana 1 Proposed Sylabus for ICAG Qualifying Examinations Contents Introduction Features and Inovations of the New Scheme Objectives and Expected Performance Outcomes of Each Part PART 1 1. 1 1. 2 1. 3 1. 4 Financial Accounting Fundermentals Business Management Economics Management Information Systems PART 2 2. 1 2. 2 2. 3 2. Quantitative Tools in Business Audit and Internal Review Business and Corporate Law Principles and Practice of Taxation PART 3 3. 1 3. 2 3. 3 3. 4 Financial Reporting Public Sector Accounting Cost and Management Accounting Financial Management PART 4 4. 1 4. 2 4. 3 4. 4 Advanced Financial Reporting Advanced Audit and Professional Ethics Corporate Strategy and Governance Advanced Tax Planning and Fiscal Policy Review of Qualifying Examinations Syllabus May 2010 Proposed Tra nsitional Arrangements 1 2 3 4 11 17 25 32 37 42 50 55 61 68 73 80 86 98 108 115 116 2 Institute of Chartered Accountants, Ghana Financial Accounting FundamentalsINTRODUCTION After nearly four years of organizing examinations on the current syllabus of the Institute of Chartered Accountants (Ghana), professional programme, the first of which was held in May 2005, it is now considered appropriate and timely to revise and update it in order to bring it in line with current state of knowledge and to make it more relevant to the current demands of employers and clients. The job of the Chartered Accountant has become more sophisticated because of the effects of globalisation, developments in information technology and the complexity of the modern business organisation.The modern day chartered accountant, for instance, not only expresses an opinion on the accuracy and fairness of financial statements, but also advises management on the viability of investment projects, tax matters and ren ders specialised advisory services, etc. In many cases, he is called upon to serve the nation as a member of a special investigation panel. In order to perform these functions creditably, he needs to have acquired proficiency in accounting theory and practice. The new syllabus would be examined in May 2010. The new syllabus attempts to meet the dual goals of the scheme through the subject structure and coverage.The 16-subject, 4-level-structure examination combines subjects which address the practical skills requirements of the potential professional accountants with others which are mainly of the theoretical or conceptual nature and therefore serves as a good grounding for the Professional Accountant. SUMMARY OF NEW STRUCTURE Exhibit 1: Chart of New Examination Scheme 1. 1 1. 2 1. 3 1. 4 Financial Accounting Fundamentals Business Management Economics MIS & Business Systems 3. 1 3. 2 3. 3 3. 4 Financial Reporting Public Sector Accounting Cost and Management Accounting Financial Mana gement PART 1PART 3 PART 2 PART 4 2. 1 2. 2 2. 3 2. 4 Quantitative Tools in Business Audit and Internal Review Business and Corporate Law Principles and Practice of Taxation 4. 1 4. 2 4. 3 4. 4 Advanced Financial Reporting Advanced Auditing and Professional Ethics Corporate Strategy and Governance Advanced Taxation and Fiscal Policy Institute of Chartered Accountants, Ghana 1 Proposed Sylabus for ICAG Qualifying Examinations FEATURES AND INNOVATIONS OF THE NEW SCHEME This new scheme was developed on a well-established context for a review and change. The following new features and innovations stand out. A four-part structure of 16 papers in total. †¢ Fusion and integration of some courses. This is meant to encourage an integrative learning approach and to minimize the negative of the â€Å"tunnel vision† subject-by-subject training. The combination of related courses is therefore meant to derive more meaning and synergies. For example, it is not uncommon to find very sim ilar questions and requirements on â€Å"Budgeting and Variance Analysis† in both the old [i. e. Current] Management Accounting and Cost Accounting papers. †¢ Clearly defined and achievable learning outcomes from Part to Part.This should partly resolve the problems associated with the placement of partly qualified candidates in industry and on other programmes. †¢ A more rational, easy-to-fit and implement, graduate conversion and exemption scheme has been incorporated. It is hoped that this will motivate higher grade candidate entrants—degree and diploma holders —to acquire sufficient accountancy competence and speed up their eventual professional qualification. †¢ All students have ten (10) years from the date of registration within which to complete all the examinations of the Institute of Chartered Accountants (Ghana).After the ten (10) years period any student who has not completed the examinations of the Institute will not be eligible to tak e the examinations. †¢ Better focus on business [financial] strategy and reporting or communication skills, thereby enabling candidates to appreciate the overall realities of the business environment and to use advisory skills more effectively. †¢ Introduction of some more relevant programmes and appropriate titles — the New Business Strategy is more about management, making accountants strategic decisions makers. Increased emphasis on business advisory skills at the final Part 4. 2 Institute of Chartered Accountants, Ghana Financial Accounting Fundamentals OBJECTIVES AND EXPECTED PERFORMANCE OUTCOME OF EACH PART Each of the 4 Parts of this examination scheme has a broad objective and expected performance outcome as stated below. Additionally, within each subject at any Part, the syllabus coverage as well as the detailed but specific objectives and learning outcomes are stated. The broad objective and learning outcomes of the four (4) Parts are as follows: PART 1 â € ¢ 4 basic/foundation papers. Provision of basic principles and knowledge required to understand the Business Environment. PART 2 †¢ Four (4) traditional core papers. †¢ Test of technical expertise required of a modern accountant. †¢ Acquisition of background knowledge and skills necessary for effective performance at middle management level. PART 3 †¢ Four (4) core papers. †¢ Emphasis on business cases, strategy and advisory skills. PART 4 †¢ Four (4) core papers. †¢ Emphasis on business cases, strategy and advisory skills. Result and Interpretation The pass mark is 50%. The results will be published as â€Å"pass† or â€Å"fail.A candidate who fails has the option of rewriting this paper in subsequent examinations till his/her candidature expires. Institute of Chartered Accountants, Ghana 3 Proposed Sylabus for ICAG Qualifying Examinations PROFESSIONAL PART 1 PAPER 1. 1: Financial Accounting Fundamentals 1. OBJECTIVES AND LEARNING OUTC OMES This paper is designed to enable candidates acquire and appreciate fundamental accounting knowledge in organisations. At the end of the course, the candidate should be able to: Demonstrate sound knowledge and understanding of accounting principles, concepts and their application in the preparation of financial statements.To ensure that students have a sound understanding of the techniques of double entry accounting and can apply its principles in recording transactions, adjusting financial records and preparing non-complex financial statements. Able to identify and correct omissions and errors in accounting records and financial statements. Able to specify the components of financial statements and prepare and present non-complex accounts for sole traders, partnerships and limited companies. Specify why an entity maintains financial records and prepares financial statements.Identify the sources of information for the preparation of accounting records and financial statements. R ecord and account for transactions and events resulting in income, expenses, assets, liabilities and equity in accordance with the appropriate basis of accounting and the laws, regulations and accounting standards applicable to the financial statements. Prepare a trial balance from accounting records and identify the uses of the trial balance. Prepare accounts and financial statements from incomplete records. Understand the different bases of preparing financial statements. Apply some international financial reporting standards.Define the qualitative characteristics of financial information and the fundamental bases of accounting FORM OF EXAMINATION The examination will be a three-hour paper consisting of five compulsory questions. (All the five questions must be answered. ) 3. SYLLABUS WEIGHTING GRID This grid shows the relative weightings of topics within this subject and should guide the relative study time spent on each. The marks available in the assessment will equate to the w eightings below. 4 Institute of Chartered Accountants, Ghana †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ 2. Financial Accounting FundamentalsHowever, there might be slight variations in some instances as they serve as a guide only. SYLLABUS COVERAGE Conceptual Framework of Accounting, Maintaining Financial Records Principles of Double Entry & Books of Prime Entry Adjustments to Accounting Records and Financial Statements Accounting for non-current Assets (tangibles and intangibles) Preparation of Financial Statements including Cash Flow Preparation of Financial Statements for Non-profit Making Organisations, Preparation of Financial Statements from Incomplete Records Accounting for specialised transactions Introduction to financial statements analysis TOTAL WEIGHTING (%) 0 15 20 20 15 10 100 Institute of Chartered Accountants, Ghana 5 Proposed Sylabus for ICAG Qualifying Examinations PAPER 1. 1 Financial Accounting Fundamentals MAI N TOPIC SYLABUS CONTENT (Cont’d. ) 1. 1 Conceptual Framework of Accounting a. Define and explain the scope of accounting, financial accounting, book-keeping, cost and management accounting, and their similarities and differences. b. Explain the needs of external and internal users of accounting information. c. Describe forms of Business Entity: and explain the meaning of ‘entity. ’ d.Explain the categories of business organisations. (i) Sole Proprietorships: Their characteristics, benefits and limitations. (ii) Partnerships: Their characteristics, benefits and limitations. (iii) Limited Liability Companies: Their characteristics, benefits and limitations e. Explain the differences between Partnerships and limited liability companies. f. Explain the purpose of financial statements by 1AS 1. g. Explain the accounting assumptions and concepts. h. Outline the components of financial statements. i. Identify the main users of financial information and their information needs. . Identify and explain accounting concepts and conventions. k. Outline the qualitative characteristics of financial statements. l. Outline the elements of financial statements and the basis of their recognition and their measurements. m. Explain Accounting Standards: their purpose, standards setting process, IASB membership. a. Specify why an entity maintains financial records and prepares financial statements. b. Identify the sources of information for the preparation of accounting records and financial statements. c.Record and account for transactions and events resulting in income, expenses, assets, liabilities and equity in accordance with the appropriate basis of accounting and the laws, regulations and accounting standards applicable to the financial statements. d. Record and account for changes in the ownership structure and ownership interests in an entity. 1. 2 Maintaining Financial Records 6 Institute of Chartered Accountants, Ghana Financial Accounting Fundamental s PAPER 1. 1 Financial Accounting Fundamentals MAIN TOPIC SYLABUS CONTENT (Cont’d. ) 1. 3 Principles of Double Entry and Books of Prime Entry a.Understand and apply the accounting equation. b. Identify the elements of financial statements: †¢ Types, definitions, relationships and distinctions. †¢ The nature of transactions. c. Outline the contents and purpose of different types of business documentation, including: quotation, sales order, purchase order, goods received note, goods dispatched note, invoice, statement, credit note, debit note, remittance advice, receipt. d. Identify the main types of ledger accounts and books of prime entry (cash books, the sales day book and the sales ledger, the purchases day book and the purchases ledger) and understand their nature and function. . Understand and illustrate the uses of journals and the posting of journal entries into ledger accounts. f. Identify the main types of business transactions e. g. sales, purchases, paymen ts, receipts. g. Identify correct journals from given narrative. h. Illustrate how to balance and close a ledger account. 2. 1 Adjustments to accounting records and financial statements a. Identify and explain the types of errors that can affect trial balance and its effects on financial statements. (i) Explain how these can be corrected. (ii) Explain the purpose of suspense accounts. iii) Explain the uses of journals to correct errors in draft financial statements. b. Explain the accounting for the following in financial statements; (i) Stocks/inventories. (ii) Tangible non-current assets. (iii) Fixed Assets and Depreciation. (iv) Intangible non-current assets and amortisation. (v) Accruals and prepayments. (vi) Debtors/receivables and trade creditors/ payables. (vii) Provisions and contingencies. (viii) Returns inwards and outwards. (ix) Discount received and discount allowed. (x) Capital and revenue expenditures. Institute of Chartered Accountants, Ghana 7Proposed Sylabus for ICA G Qualifying Examinations PAPER 1. 1 Financial Accounting Fundamentals MAIN TOPIC SYLLABUS CONTENT (Cont’d. ) xii. Bad debts, provisions for doubtful debts, provisions for discounts on debtors. c. Prepare Bank Reconciliation Statement. 2. 2 Accountingfor Non-current Assets a. Describe the accounting treatment for property, plant and equipment in accordance with IAS 16. b. Explain the methods and policies of depreciation (limited to straight line, reducing balance and revaluation methods). c. Explain the reasons for depreciation and accounting for provision for depreciation. . Account for disposal of property, plant and equipment using ledger accounts. e. Account for recognition of Intangible assets in accordance with IAS 38. f. Explain the differences between depreciation and amortization. a. Prepare and present income statement and balance sheet of a sole trader: i Manufacturing Account ii Trading Account iii Profit and Loss Account iv Balance Sheet a. Describe the procedure for forming a partnership. b. Outline the provisions in the Incorporated Private partnership Act 1962 (Act 152) in relation to the preparation of partnership accounts. c.Prepare final accounts of partnership: †¢ Trading, profit and loss account †¢ Profit and loss appropriation account †¢ Partners’ capital and current accounts †¢ Balance sheet d. Explain the procedure for admission of a partner. e. Explain the methods of valuing goodwill. f. Explain revaluation in relation to an admission of a new partner, change in the profit sharing ratio, or a retirement/death. 3. 2. Preparation of Financial Statements of a Partnership Firm 3. 1 Preparation of Financial Statements of a Sole Trader 8 Institute of Chartered Accountants, Ghana Financial Accounting FundamentalsPAPER 1. 1 Financial Accounting Fundamentals MAIN TOPIC SYLLABUS CONTENT (Cont’d. ) g. Prepare partnership accounts for an admission, change in the profit sharing ratio, or a retirement. h. Pre pare accounts for simple dissolution (excluding piecemeal realisation). 3. 3 Preparation of Financial Statements of a company a. Distinguish between. – Ordinary Share and Preference Share. – Authorised Capital and Stated Capital. – Income Surplus and Capital Surplus. b. Describe the nature and types of debentures. c. Explain the nature and purpose of final accounts of a limited liability company. . Draft company final accounts for internal use. e. Define cash flow and explain cash flow statement. f. Describe the usefulness of cash flow statement. g. Prepare a simple cash flow statement in accordance with IAS 7. a. Identify the type of entity that is a non-profit making organisation. b. Identify the purpose of such organisations. c. Outline the differences between income statement for non-profit making organisation and income statement for a profit making business. d. Prepare receipts and payments account, income statement and a balance sheet for a non-profit mak ing organisation.Prepare Income statement and balance sheet of an entity from incomplete records. 4. 1 Preparation of Financial Statements for Not-for-Profit Organisations 4. 2 Preparation of Financial Statements fromIncomplete Records 5. Accounting for a. Explain joint venture. Specialised b. Distinguish between joint venture and partnership. Transactions Joint Venture; c. Explain how to make entries in the accounts of a joint venture. Investments; d. Explain investments accounts, and how they are Royalties; used. Branch Institute of Chartered Accountants, Ghana 9 Proposed Sylabus for ICAG Qualifying Examinations PAPER 1. Financal Accounting Fundamentals MAIN TOPIC SYLLABUS CONTENT (Cont’d. ) e. Record transactions in investment accounts. f. Explain royalties, minimum rent and short workings. g. Record royalties in the books of the lessee and lessor (including sub-royalties or leases). h. Prepare departmental and branch accounts (excluding foreign branches). 6. Introduction to Financial Statement Analysis a. Calculate basic financial ratios from given income statement and/or balance sheet: – Profitability Ratios – Liquidity (Short term solvency) Ratios – Gearing/Leverage Ratios – Activity/Efficiency Ratios – Investment Ratios b.Explain the meaning and uses of the above ratios. c. Outline the limitations of financial ratios as tool for performance measurement. LIST OF RECOMMENDED TEXT 1. 2. 3. ICAG Study Text. Wood F. Business Accounting 1: Financial Times. Millichamp, R. A. (1992) Foundation Accounting; DPP. RELEVANT LEGISLATIONS 1. 2. Companies Code, 1963, Act 179. Incorporated Private Partnership Act 1962, Act 152. 10 Institute of Chartered Accountants, Ghana Business Management PAPER 1. 2 Business Management 1.OBJECTVES AND LEARNING OUTCOMES At the end of the course, candidates should be able to: †¢ †¢ †¢ †¢ †¢ †¢ explain the objectives of business and the functions of management; expl ain the major concepts, theories and techniques in the field of general management; apply the concepts, theories and techniques in analysing and providing solutions to business problems; describe the various functional areas of an organisation and how they relate to one another; describe the environment within which businesses operate; appraise the impact of economic, social, political, legal, technological and global changes in the environment on management decisions. . FORM OF EXAMINATION The examination will be a three-hour paper of seven (7) questions. Candidates will be required to answer any five (5) questions. 3. SYLLABUS WEIGHTING GRID This grid shows the relative weightings of topics within this subject and should guide the relative study time spent on each. The marks available in the assessment will equate to the weightings below. However, there might be slight variations in some instances as they serve as a guide only.Syllabus Coverage Introduction to Management Planning and Decision Making Organizing, Motivation, Leadership, Controlling Communication Groups and Team Work Human Resource Management Marketing Management Operations Management TOTAL Weighting (%) 10 15 30 15 10 10 10 100 11 Institute of Chartered Accountants, Ghana Proposed Sylabus for ICAG Qualifying Examinations PAPER 1. 2 Bussiness Management MAIN TOPIC (Cont’d. ) SYLLABUS CONTENT Introduction to Management a. Explain the objectives of business organisations. b.Explain the four (4) functions of management and state the other major elements in the management process. c. Explain the roles of management. d. Explain the types of skills needed by managers. e. Describe how managerial jobs differ according to the levels and areas of responsibility. f. Explain the evolution of management theories. g. Explain how socio-cultural, legal, economic, political and technological and global changes influence businesses. h. Explain the concept of stakeholders and distinguish between primary an d secondary stakeholders. i. Explain the nature of the power and interests of takeholders. j. Explain the social responsibility of businesses. Planning and Decision Making a. Define and differentiate between the following key terminologies: Planning †¢ Forecasting †¢ Objective setting †¢ Policies †¢ Programmes †¢ Schedules †¢ Procedures †¢ Budgeting b. State and describe types of plans. c. Categorise the types of planning at the different levels of management. d. Explain the planning process. e. Explain the steps in the decision making process. f. Appraise alternative solutions and select appropriate solution(s) to organisational problems. g.Evaluate and apply skills necessary for effective decision making as regards the entire spectrum of management and organisation. 12 Institute of Chartered Accountants, Ghana Business Management PAPER 1. 2 Bussiness Management MAIN TOPIC (Cont’d. ) SYLLABUS CONTENT Organising a. Describe the elements that make up organisational structure and its related units. b. Develop organisational charts and explain their importance. c. Describe the main approaches to job design. d. Explain the major methods of vertical co-ordination, including formalisation, span of management, centralization vs. ecentralisation, delegation, line and staff positions. e. Analyse delegation, authority, responsibility and accountability and their impact on motivation and organisational culture. f. Explain, analyse and evaluate the concept of coordination as an integral part of management. g. Distinguish between types and conditions for business and organisational integration. h. Identify and state the characteristics and relationships associated with planning, organising, leading and controlling in organisations. i. Appraise the role and importance of co-ordination. a.Define leadership. b. Explain the major sources of a leader’s power. c. Explain the following leadership theories: †¢ Traits theory â⠂¬ ¢ Behavioural theory †¢ Contingency theory †¢ Managerial grid †¢ Tannenbaum and Schmidt leadership continuum †¢ Fieldler’s contingency theory †¢ Situational leadership †¢ Path-goal theory. †¢ Contemporary theories d. Explain the various leadership styles Leadership Institute of Chartered Accountants, Ghana 13 Proposed Sylabus for ICAG Qualifying Examinations PAPER 1. 2 Bussiness Management MAIN TOPIC (Cont’d. ) SYLLABUS CONTENT Motivation . Explain the theories of motivation. b. Describe the role of behavioural aspect of motivation. c. Evaluate the limitations to motivation theories. d. Describe how teamwork and consultative management are used as motivational tools. e. Outline the linkage between motivation and output. a. Explain the nature and importance of organizational control. b. Describe the control process. c. Discuss the different organisational control process. d. Explain the different control methods. a. Explain the mean ing and role of communication in modern organisations. b.Explain the main forms of communication. c. Describe the communication process. d. Distinguish between organisational communication channels and explain their role in managing effectively. e. Discuss the roles of negotiation in the management process both within an organisation and with external bodies. f. Identify and describe barriers to communication. a. Define and analyse the concept of management groups, inter or intra-group relations and how motivation influences group/managerial behaviour. b. Analyse and evaluate the concept of team approach in directing organisational activities. . Explain how groups are formed within organisations and how this affects performance. d. Explain the nature, functions and purposes of social groups in organisations. e. Explain inter-personal and inter-group relations and distinguish between them. f. Define and analyse the concept of organisational culture and business etiquette in organisat ions. Controlling Communication Groups and Teamwork 14 Institute of Chartered Accountants, Ghana Business Management PAPER 1. 2 Bussiness Management MAIN TOPIC (Cont’d. ) SYLLABUS CONTENT Human Resource Management a.Explain the role of the human resource management function and its relationship to other parts of the organisation. b. Describe the recruitment process. c. Distinguish between training and development and show their relationship. d. Explain the meaning and effects and/or application of job evaluation, staff appraisal, performance measurement and evaluation; promotion and demotion. e. Explain the disciplinary procedure in human resource management. f. Explain compensation systems and the significance of indirect compensation. g. Explain the concept of organisational health and safety and its benefits. . Distinguish between duties of employer's and employees responsibilities. Marketing Management a. Explain the marketing concept. b. Outline the strategic roles of ma rketing in organisations. c. Explain the main elements of a marketing plan and importance. d. Explain segmentation and targeting of markets and positioning of products within markets. e. Explain the elements of the marketing mix and their application. f. Describe the role of technology in modern marketing. g. Explain the differences and similarities in the marketing of products and services. h. Design and implement a pricing strategy. . Explain customer care strategies as a means of achieving competitive advantage and their relationship with total quality management. Institute of Chartered Accountants, Ghana 15 Proposed Sylabus for ICAG Qualifying Examinations PAPER 1. 2 Bussiness Management (Cont’d. ) MAIN TOPIC SYLLABUS CONTENT Operations Management a Explain the following types of production process: †¢ Job production †¢ Batch production †¢ Mass/continuous/flow production b. Explain and compare the following methods of plant layout: †¢ Process layout â € ¢ Product layout †¢ Fixed-position layout. c.Discuss the role of operations management in organizations. d. Explain the concept of quality and total quality management. e. Explain how the quality of products and services can be assessed, measured and improved. RECOMMENDED/REFERENCE TEXTS 1. 2. 3. 4. 5. ICAG Study Text. Appleby P. O. Modern Business Administration, Pitman. Boachie-Mensah, F. O. Essentials of Management, Woeli Publishing Services. Cole, G. A. Management: Theory and Practice. DP Publications. Marfo-Yiadom, E. Principles of Management, Woeli, Publishing Services. 16 Institute of Chartered Accountants, GhanaEconomics PAPER 1. 3 Economics 1. OBJECTIVES AND LEARNING OUTCOMES On completion with this paper, candidates should be able to: †¢ explain the nature and scope of economics; †¢ define and explain the fundamental problems of satisfying wants from scarce resources with alternative uses or describe resources allocation in relation to competing wants; à ¢â‚¬ ¢ explain and offer illustrations of the main techniques of economic analysis as a basis for business decisions; †¢ identify how macroeconomic variables and government economic policies affect and/or influence an organisation. explain the main features and contemporary trends of the Ghanaian economy and apply the concepts and techniques of economics to current business issues. 2. FORM OF EXAMINATION The examination will be a three (3) hour paper of seven (7) questions, five (5) of which should be answered by candidates. The paper will consist of two (2) sections, A and B. Section A will consist of four (4) questions on microeconomics and Section B will consist of three (3) questions on macroeconomics.Candidates are required to answer three (3) questions from Section A and two (2) questions from Section B. 3. SYLLABUS WEIGHTING GRID This grid shows the relative weightings of topics within this subject and should guide the relative study time spent on each. The marks availab le in the assessment will equate to the weightings below. However, there might be slight variations in some instances as they serve as a guide only. Institute of Chartered Accountants, Ghana 17 Proposed Sylabus for ICAG Qualifying Examinations PAPER 1. 3 Economics SYLLABUS COVERAGE (Cont’d. ) WEIGHTING (%)Basic Economics — Concepts and Systems Price and quantity determination Elasticity concepts Theory of consumer behaviour Theory of production Theories of costs and revenues Theory of the Firm National income accounting Money and banking Public Finance International Trade TOTAL 7 10 8 10 10 5 10 10 10 10 10 100 18 Institute of Chartered Accountants, Ghana Economics PAPER 1. 3 Economics SECTION A: Microeconomics MAIN TOPIC (Cont’d. ) SYLLABUS CONTENT Basic Economic Concepts and System a. Define and explain economics in relation to production, distribution. b. Consumption of goods and services. c.Explain the concepts of scarcity, choice and scale of preference. d. Explain the concept of opportunity cost in relation to individuals, firms and government. e. Identify the main characteristics of the various economic systems and explain their merits and demerits. f. Discuss the role of economics in business decision making. a. Define demand and supply and identify the types. b. Identify and explain the determinants of quantity demanded and supplied. c. Explain individual and market demand and supply using tables, graphs and equations. d. Distinguish between a change in quantity demanded and a change in demand. . State and explain the determinants of a change in demand and a change in quantity demanded. f. Distinguish between a change in quantity supplied and a change in supply. g. State and explain the determinants of a change in supply and a change in quantity supplied. h. Identify and explain the determinants of a change in supply and a change in quantity supplied. i. Explain the concepts of equilibrium price and quantity via demand and supply with the aid of tables and diagrams. j. Determine equilibrium price(s) and quantity(ies) mathematically for a single and a two-commodity model. . Define and explain maximum (ceiling) and minimum (floor) price legislations and give reasons for legislating prices. l. State and explain the consequences of price legislation with the aid of diagrams. m. Explain the remedies for the consequences of price legislation. Institute of Chartered Accountants, Ghana 19 Price and Quantity Determination Proposed Sylabus for ICAG Qualifying Examinations SECTION A: Microeconomics MAIN TOPIC (Cont’d. ) SYLLABUS CONTENT Elasticity Concepts a. Distinguish between own price (point/arc), cross and income elasticities of demand. b.Calculate and interpret coefficients of own price (point/arc), cross and income elasticities of demand. c. Identify and explain the determinants of price elasticity of demand. d. Calculate and interpret coefficients of price (point/ arc) elasticity of supply. e. Identify a nd explain the determinants of price elasticity of supply. f. Explain how elasticities are used in pricing decisions, production and incidence of taxation. a. Define and explain the concept of utility. b. Define and graph total, average and marginal utilities and calculate average and marginal utilities from total utility. . State and explain the law of diminishing marginal utility. d. Use the law of diminishing marginal utility to explain equilibrium of the consumer (one commodity, two or more commodities) and derive the demand curve. e. Use the equilibrium conditions for two commodities to determine the equilibrium quantities consumed via tables. f. Use the law of diminishing marginal utility to resolve the paradox of value. g. Explain substitution and income effects and use them to show the curvature of demand curves for normal, inferior and Giffen goods. a.Identify, define and explain the factors of production. b. Explain fixed and variable inputs in relation to short and long r un production periods. c. Define and explain total, average and marginal products. d. Calculate marginal and average products from total product and represent total, average and marginal products graphically. e. Identify and explain the relationships between total, average and marginal products. Theory of Consumer Behaviour The Theory of Production 20 Institute of Chartered Accountants, Ghana Economics SECTION A: Microeconomics MAIN TOPIC (Cont’d. ) SYLLABUS CONTENT . State and explain the law of variable proportions and use the law to explain the stages of production. g. Explain the long run behaviour of output (returns to scale). a. Distinguish between: †¢ Private and social costs. †¢ Implicit and explicit costs. b. Define, tabulate, represent graphically and explain the inter-relationship of short run costs (fixed and variables costs; total, average and marginal costs). c. Use the law of diminishing returns to variable proportions to explain the conventional shap es (Ushapes) of the average variable cost and marginal cost curves. d.Explain and represent graphically, long run costs. e. Explain economies and diseconomies of scale. f. Use economies and diseconomies of scale to explain: †¢ The position of the long run average cost curve in cost-output, space. †¢ The conventional shape of the long run average cost curve. g. Define and explain total, average and marginal revenues. h. Explain the behaviours of total, average and marginal revenues in both price-taking and pricemaking industries. a. Define the concept of profit in relation to normal and economic profits. b. Distinguish between accountant's and economist's profits. . Distinguish between economic profit and economic loss. a. Distinguish among factory, firm and industry. b. Explain the general concept of equilibrium of the firm. c. Define the various forms of market structures (perfect competition, monopoly, monopolistic competition) and identify the characteristics of each of them. d. Explain the short run and long run positions of the Institute of Chartered Accountants, Ghana 21 Theories of Costs and Revenues Theory of the Firm Proposed Sylabus for ICAG Qualifying Examinations SECTION B: Microeconomics MAIN TOPIC (Cont’d. )SYLLABUS CONTENT perfectly competitive firm, monopolistic firm and monopolistic competitive firm. e. Define oligopoly and identify its characteristics. f. Define, distinguish and give reasons for regulation, deregulation and privatization of firms. National Income Accounting a. Explain the stock and flow concepts of measurement. b. Define national income. c. Explain the following methods of measuring national income: †¢ Expenditure approach †¢ Product (output) approach †¢ Income approac d. Identify and explain the problems and factors that influence the size of national income. e.Explain the relevance of the size of national income. f. Define consumption, savings, investment, government expenditure, imports and exports. g. Identify and explain the determinants of consumption; savings, investment, government expenditure, imports and exports. h. Explain income determination, equilibrium income, the multiplier and the basic accelerator. i. Compute equilibrium income, tax, disposable income and savings. j. Define and explain aggregate demand and aggregate supply. k. Illustrate changes to equilibrium level of national income using aggregate demand and aggregate supply analysis. . Define, identify types and explain measures for tackling unemployment. a. Identify and explain the origins, nature, features and functions of money. b. Identify types of banks and explain the functions of central and commercial banks. c. Explain credit creation by commercial banks. d. Identify and explain the instruments of monetary policy. e. Explain Monetary Policy Formulation through the Monetary Policy Committee (MPC). Money and Banking 22 Institute of Chartered Accountants, Ghana Economics SECTION B: Microeconomic s MAIN TOPIC (Cont’d. ) SYLLABUS CONTENT f.Explain the effects of monetary policy on business organizations. g. Define stock exchange and explain its functions and importance. h. Define and explain demand and supply of money and the three motives of holding money. i. Define and explain inflation and the Philips curve. Public Finance a. Identify and explain the sources of government revenue b. Identify and explain the various items of government expenditure. c. Define National Budget and explain balanced budget, deficit budget and surplus budget. d. Identify and explain sources of financing budget deficit and its economic implications. . Explain Fiscal Policy and identify its tools. f. Define tax and explain the principles (progressive, regressive and proportional) and incidence of taxation. g. Outline the merits and demerits of direct and indirect taxes. h. Define national debt and identify the sources of national debt accumulation. i. Explain the arguments for and against in crease in national debt. j. Identify and explain ways of managing the national debt (e. g. debt swap, Highly Indebted Poor Countries (HIPC). Initiative, conversion of national debts into bonds etc. ) a. Give reasons for international trade. . Explain the concept and consequences of globalisation for business and national economies. c. Explain the concept of balance of payments and its implications for business and for government policy. d. Identify and explain the various components of balance of payments. e. Distinguish between balance of payments deficit and balance of payment surplus. Institute of Chartered Accountants, Ghana 23 International Trade Proposed Sylabus for ICAG Qualifying Examinations MAIN TOPIC SYLLABUS CONTENT f. Explain the causes and effects of fundamental imbalances in the balance of payments. g.Identify and explain exchange rate systems (fixed, flexible and managed float). h. Analyse the interrelationship between exchange rate and current accounts balance. i. I dentify and explain types of international trade controls, arguments for and against trade control and liberalization. j. Explain the role of major institutions (e. g. World Bank, International Monetary Fund) in fostering internal development and economic stabilization. RECOMMENDED/REFERENCE TEXTS 1. 2. 3. 4. 5. ICAG Study Manual on Economics Begg, D. Economics, McGraw-Hill Colander, D. C. Microeconomics, McGraw-Hill Colander, D. C. Macroeconomics, McGraw-Hill Pomayie, P.Macroeconomics, An Introductory Text 24 Institute of Chartered Accountants, Ghana Management Information Systems PAPER 1. 4 Management Information System 1. OBJECTIVES AND LEARNING OUTCOMES This paper is concerned with the strategic importance of information systems to organisations in the modern business environment. It recognises that although may organisations employ Information Technology (IT) Professionals, Chartered Accountants now have a key role to play in the provision of information that adds significant v alue to the ever-increasing volume of data processed for management decision making.At the end of the course, candidates should be able to: †¢ Develop an understanding of general information system concepts and practices and technological environment of the contemporary organisation. Apply a systematic approach to the use of information technology in organisations. Appraise the technological environment in order to support the practical aspects of information provision and usage. Identify and apply project management techniques; and develop project proposals. †¢ †¢ 2. FORM OF EXAMINATION The examination will be a three-hour paper of six (7) questions made up of Sections A and B.Section A will consist of a compulsory case study question of 40 marks. Section B will consist of five (5) questions out of which candidates will be required to answer three (3) questions. 3. SYLLABUS WEIGHTING GRID This grid shows the relative weightings of topics within this subject and shoul d guide the relative study time spent on each. The marks available in the assessment will equate to the weightings below. However, there might be slight variations in some instances as they serve as a guide only. Institute of Chartered Accountants, Ghana 25 Proposed Sylabus for ICAG Qualifying Examinations PAPER 1. Management Information System SYLLABUS COVERAGE Systems Theory and Practice Information Systems Computers in Communication Information Technology and the Professional Accountant Business Strategy and IS/IT Alignment Project Management TOTAL MAIN TOPIC SYLLABUS CONTENT (Cont’d. ) WEIGHTING (%) 10 35 10 20 10 15 100 1. Systems Theory and Practice Systems concepts and definition a. Explain systems concepts and give examples of real systems. b. Explain the essence of systems approach to problem solving. c. Describe the holistic features of systems. d. Differentiate between system boundaries and environments. . Explain the following system types: †¢ Open †¢ Cl osed †¢ Adaptive †¢ Cybernetic †¢ Deterministic †¢ Probabilistic (or stochastic) System and Subsystems a. Explain the relationships among subsystems in a typical business context. b. Apply the theory of sub-optimality and systems objective. c. Explain the need for system control and feedback. d. Explain the following system control elements: †¢ Standard †¢ Comparators †¢ Sensor †¢ Effectors e. Represent the control mechanisms diagrammatically. 26 Institute of Chartered Accountants, Ghana Management Information Systems PAPER 1. 4 Management Information System (Cont’d. MAIN TOPIC SYLLABUS CONTENT 2. Information Systems Application of Information systems in the organisation a. Define and distinguish between data and information. b. Explain the attributes of good information, i. e. accuracy, timeliness, brevity, conciseness, reliability, etc. c. Explain the concept of the value of information. d. Explain the term, Information Technology. e. Explain the role and uses of information in organisation i. e. competitive advantage and support of managerial functions. f. Explain the different types of information systems, i. e. TPS, MIS, DSS, EIS, and ES. g.Describe the three levels of information in relation to the levels of management. Traditional file Structures and storage Media a. Explain the terms, computer file; record; field; record key. b. Explain the relationship and difference between transaction and master files. c. Describe the key methods of file organisation and access. d. List the characteristics and explain the workings of the different storage media — magnetic tape, magnetic disc, diskette, CD-ROM, DVD, Zip disc, flash disk, etc. Database Design and Implementation a. Define database and explain the importance of databases in the operations of an organisation. . Describe the types and enumerate the advantages and disadvantages of database models — hierarchical, network, relational and object-ori ented. c. Explain with examples, components of a Database Management System (DBMS) — hardware, software, people (users, designers, administrators, procedures, data/information). d. Apply database tools to real life systems — Entities, attributes and Relationships. e. Explain entity relationship modeling, data analysis and entity life history. Institute of Chartered Accountants, Ghana 27 Proposed Sylabus for ICAG Qualifying Examinations PAPER 1. 4 Management Information System (Cont’d. )SYLLABUS CONTENT 2. Information Systems (Cont’d) Computer Hardware and Software Concepts a. Explain the hardware concepts of the computer and list its benefits and shortcomings. b. Describe the categories/generations of computers — super, mainframe, mini and microcomputers. c. Draw the basic functional units of a computer system and show how they interrelate — CPU, input/output devices (peripheral devices). d. Describe the various types of computer memory â₠¬â€ semi-conductor memory, cache memory, video memory and flash memory. e. Explain operating systems — single user, multi user. f. Explain system software and describe its components. . Explain the functions of the operating system (os). h. Explain Applications software and describe Packagres. Bespoke software, special purpose software, general purpose software. i. Viruses, worm. j. Explain with examples the evolution of computer programming languages — machine language, assembly language, high level language, 4GL and 5GL. g. Explain the concept of software testing — unit testing, static testing, dynamic testing and regression testing. h. Explain the use of the following: †¢ CASE tools †¢ Prototyping tools †¢ Query language. i. Describe the qualities of a good programme.Representation of processes in computer Systems a. Draw diagrams to represent computer processes using the following tools: †¢ Programme flowchart †¢ Decision trees â₠¬ ¢ Decision tables †¢ Data flow diagram Human Computer Interfaces (HCI) a. Explain the various types of communication between users and computer systems — command driven, menu 28 Institute of Chartered Accountants, Ghana Management Information Systems PAPER 1. 4 Management Information System (Cont’d. ) SYLLABUS CONTENT driven, GUI, user-friendliness. b. Internal and External design of systems. 2. Information Systems (Cont’d) Systems Development Life-cycle (SDLC) a.Explain the following phases of the SDLC: †¢ Problem identification †¢ Feasibility studies †¢ System investigation †¢ System analysis †¢ System design †¢ Implementation †¢ Post-implementation review. b. Describe the methods required to measure the success of the system. c. Apply structured methodology to system development. Processing Systems Options a. Describe the processing options and their characteristics (batch, real-time, demand, online, distributed, cent ralized and decentralized processing). IS/IT in the organisation a. Explain the role and describe the staffing, functions and responsibilities of the IS/IT department in an organization. . Explain the principles of facilities management and outsourcing. Controls and Security of Computer Operations a. Explain the principles of system security and control. b. Explain the under-listed control measures: †¢ Administrative controls †¢ Input and output controls †¢ Operational controls †¢ General controls †¢ Verification and Validation c. Explain the principles of hardware/software maintenance (preventive, corrective, adaptive and perfective). Institute of Chartered Accountants, Ghana 29 Proposed Sylabus for ICAG Qualifying Examinations PAPER 1. 4 Management Information System (Cont’d. )MAIN TOPIC SYLLABUS CONTENT Data communication Principles, Objectives and Uses 3. Computers in Communications a. Explain the importance of computer networks and distributed pr ocessing. Computers in Communication a. Explain the following computer network types: †¢ Wide area †¢ Metropolitan area †¢ Local area b. Explain computer network topologies and protocols. c. Internet, Intranet, Extranet. Office Automation a. Explain office automation. b. Explain E-Business c. Explain the following: †¢ E-Commerce †¢ E-Mail †¢ Telecommuting †¢ E-Banking †¢ Telesales †¢ Video conferencing †¢ Tele conferencing †¢ EDI †¢ E-Learning 4.Information Technology andthe Professional Accountant Information Technology and the Contemporary Accountant a. Explain how information technology influencing the ways in which organization are structured, managed and operated. b. Identify the required level of knowledge of information technology by professional accountants which can be applied to practical problems in the organization. Information Technology Knowledge and Skills Areas a. Explain the role of the accountant in inform ation technology concepts for business systems under the following: 30 Institute of Chartered Accountants, Ghana Management Information SystemsPAPER 1. 4 Management Information System (Cont’d. ) MAIN TOPIC SYLLABUS CONTENT †¢ The professional accountant as a user information technology. †¢ The professional accountant as a manager information system. †¢ The professional accountant as a designer business information systems. †¢ The professional accountant as an evaluator information systems. 5. Business Strategy and IS/IT Alignment of of of of a. Explain the approach that an organisation may follow to formulate its strategic business objectives. b. Identify current trends in information technology and the opportunities they offer to organisations. c.Distinguish between a business strategy and an information systems strategy. d. Identify responsibility for the ownership of this strategy. e. Explain the use of IS/IT for competitive advantage, using Porter's mo del. a. Define Project Management and explain the terms of reference of a project. b. Explain the roles and responsibilities of staff who manage and participate in projects. c. Explain roles and responsibilities of the project manager. d. Explain the advantages of using a project management software package in the project management process. e. Construct and analyse a project network. f. Construct and interpret a Gantt chart. . Project Management LIST OF RECOMMENDED TEXT 1. 2. 3. 4. 5. 6. 7. 8. ICAG Study Manual. Stubbe, R. Computers and Information Systems. French, C. A. Data Processing and Information Technology; 9th Edition. Landon, K. C. Information Systems and the Internet. Kenneth E. Kedeall, K. E. Systems Analysis and Design. Senn, J. A. Information Systems in Management. Wadsworth. Anderson, J. A. Data Processing Vol. 1 & 2; M & E Pitman. French, C. S. Data Processing and Information Technology. DPP. Institute of Chartered Accountants, Ghana 31 Proposed Sylabus for ICAG Qual ifying Examinations PROFESSIONAL PART 2 PAPER 2. : Quantitative Tools in Business 1. OBJECTIVES AND LEARNING OUTCOMES At the end of the course, candidates should be able to: †¢ Develop the understanding and application of statistical and mathematical techniques needed to solve business and accounting problems. †¢ Explain and interpret the role of the relevant aspects of quantitative techniques needed to solve business and accounting problems. †¢ Make the most informed decision in business and accounting scenarios. 2. FORM OF EXAMINATION The examination will be a three-hour paper of seven (7) questions in all out of which candidates are required to answer any 5 questions. . SYLLABUS WEIGHTING GRID This grid shows the relative weightings of topics within this subject and should guide the relative study time spent on each. The marks available in the assessment will equate to the weightings below. However, there might be slight variations in some instances as they serve a s a guide only. SYLLABUS COVERAGE Data collection and interpretation Decision making under risk and uncertainty Forecasting techniques Planning and control techniques Optimisation and decision making techniques TOTAL 32 Institute of Chartered Accountants, GhanaWEIGHTING (%) 10 20 25 25 20 100 Quantitative Tools in Business PAPER 2. 1: Quantitative Tools in Business MAIN TOPIC SYLLABUS CONTENT (Cont’d. ) 1. Data Collection and Interpretation a. Collect statistical data using the various sampling methods. b. Classify and tabulate data in the form of frequency distribution table. c. Present data pictorially in the form of bar chart, pie chart, give, histogram, Z-Chart, Gantt chart, Lorenz curve, etc. d. Calculate measures of central tendencies ( mean, median and mode) from a given data. e.Calculate measures of dispersion (standard deviation, range, mean deviation, variation, coefficient of variation, quartile deviation and skewness, etc) from a given data. a. Define probability. b. Distinguish between equally likely and mutually exclusive outcomes. c. Explain marginal, joint and conditional probabilities. d. Apply Bayes' theorem to problem solving. e. Draw probability trees. f. Distinguish between dependent and independent events. g. Explain the laws of probability. h. Calculate and interpret expected value and standard deviation of a discrete random variable. . Use decision tree to solve problem. j. Prepare a conditional pay-off table. k. Use normal distribution to solve problems. Matrix Algebra a. Present matrix information in a tabular form. b. Solve matrix algebra: addition, subtraction, scalar multiplication, matrix algebra. c. Solve problems involving matrix inversion. d. Solve simultaneous equations by matrix algebra. e. Solve problems involving probability transition matrices. 2. Decision Making Under Risk and Uncertainty Institute of Chartered Accountants, Ghana 33 Proposed Sylabus for ICAG Qualifying Examinations PAPER 2. : Quantitative Tools in Business MAIN TOPIC SYLLABUS CONTENT (Cont’d. ) 3. Forecasting Techniques Simple Linear Regression Analysis a. Draw scatter diagram. b. Find the equation of the line of best fit using the east squares method. c. Draw the line of best fit on a scatter diagram. d. Interpret the regression coefficient. e. Use the regression equation to forecast. f. Use the computer output to test for regression (t-test, ftest). Simple Linear Correlation Theory a. Distinguish between regression and correlation. b. Explain negative zero and positive correlation. c.Distinguish between product-moment and Spearman's rank correlation coefficient. d. Calculate and interpret product-moment and Spearman's correlation coefficients. Time Series Analysis a. Explain time series. b. State and explain the components of a time series. c. Determine the trend using the methods of moving averages and least squares. d. Apply additive and multiplicative models to determine average seasonal variations. e. Use time se ries to forecast. 4. Planning and Control Techniques Network Analysis a. Distinguish between critical path method (CPM) and programme evaluation and review techniques (PERT). . Draw network diagrams using activity-on-arrow and activity-on nod models. c. Explain optimistic, most likely and pessimistic times for an activity. d. Calculate the expected duration and variance for an activity. e. Determine critical path and project duration. f. Distinguish among and calculate total float, independent float and free float. 34 Institute of Chartered Accountants, Ghana Quantitative Tools in Business PAPER 2. 1: Quantitative Tools in Business MAIN TOPIC SYLLABUS CONTENT (Cont’d. ) g. Calculate the probability and minimum time for completing a project. h.Crash a project using cost-time slope (lease incremental cost) concept. i. Use network analysis to allocate resources. Stock Control a. State the importance of keeping stock. b. Distinguish the simple economic order quantity (EOQ), gradu al replenishment and discounts models. c. Use these models to calculate the optimum quantity and determine reorder levels and safety stocks. d. Use the discrete probability to calculate the optimum quantity and determine reorder levels and safety stocks e. Use the normal distribution to determine the reorder levels, service levels and safety stocks. 5.Optimization †¢ and Decision Making Techniques Differential Calculus a. Differentiate polynomial functions (first and second derivatives only). b. Determine the turning points of a function (maximum, minimum, point of inflection). c. Use differential calculus to maximize revenue and profits (with or without tax) and to minimize cost (including the stock control, EOQ problem). d. Use differential calculus to determine point elasticity of demand. Integral Calculus a. Derive a function given its derivative. b. Apply integration to business problems. Linear Programming a. Formulate the primal linear programming problem. . Formulate th e dual linear programming problem. c. Solve the linear programming problem (involving two variables) graphically. d. Set the initial simplex tableau. Institute of Chartered Accountants, Ghana 35 Proposed Sylabus for ICAG Qualifying Examinations PAPER 2. 1: Quantitative Tools in Business MAIN TOPIC SYLLABUS CONTENT (Cont’d. ) e. Carry out the first iteration of the simplex tableau. f. Interpret the final simplex tableau. g. Explain limiting factors (scarce resources) and their shadow prices. h. Carry out sensitivity analysis on the graphical and simplex solutions.LIST OF RECOMMENDATION TEXT 1. 2. 3. ICAG Study Text Francis, A. Business Mathematics and Statistics. Continuum. Lucey, T Quantitative Techniques. Continuum. 36 Institute of Chartered Accountants, Ghana Audit And Internal Review PAPER 2. 4: Audit and Internal Review 1. OBJECTIVES AND LEARNNG OUTCOMES The course is aimed at developing the candidates' knowledge and understanding of the audit process from the planning st age through to the reporting stage and the techniques used in the conduct of internal and external audit. At the end of the course, candidates should be able to †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ 2. xplain the nature , purpose and scope of an audit; state and explain the purposes of the regulatory framework within which the auditor's work is conducted; outline the qualification, functions, responsibilities and rights of an auditor; describe the audit procedures required at the planning stage of an audit; explain the techniques for collecting and evaluating audit evidence; explain the techniques for collecting and evaluating audit evidence; explain and apply basic auditing concepts like internal controls, sampling, compliance test, substantive test, weakness test, etc; assess audit risk and design appropriate audit procedures; draw valid conclusions from the results of audit tests; and prepare various reports relating to audit assignments. FORM OF EXAMINATION The examination will consist of three-hour paper. Candidates are to answer all the five (5) questions set. 3.SYLLABUS WEIGHTING GRID This grid shows the relative weightings of topics within this subject and should guide the relative study time spent on each. The marks available in the assessment will equate to the weightings below. However, there might be slight variations in some instances as they serve as a guide only. SYLLABUS COVERAGE Nature, Purpose and Scope of an Audit. The Regulatory Framework of Auditing and Professional Considerations Audit Planning. Evidence Gathering Internal controls and Evaluation of Control Risk Internal Audit and Other Assurance Engagements Conduct of Audit and Assurance Concept, process and Need for Assurance Reporting Framework TOTAL WEIGHTING % 20 20 20 15 10 15 100 37Institute of Chartered Accountants, Ghana Proposed Sylabus for ICAG Qualifying Examinations PAPER 2. 4: Audit and Internal Review MAIN TOPIC SYLLABUS CONTENT (Co nt’d. ) 1. Nature, Purpose and Scope of an Audit a. Define an audit. b. Explain the purpose/general objectives of an audit (distinguish between primary and secondary objectives). c. Examine the advantages of auditing to stakeholders. d. Explain and distinguish between the following types of audit: †¢ Internal/External †¢ Statutory/non-Statutory †¢ Financial/Operational †¢ Interim/Continuous /Final e. Explain the inherent limitations of an audit. f. Explain the concept of expectation gap. a.Describe the nature, purpose and scope of auditing standards and auditing guidelines (International auditing Standards). b. Explain the procedure for developing auditing standards and auditing guidelines (International Auditing Standards). c. Examine the statutory and ethical considerations relating to acceptance and continuance of audit assignments. d. Assess the code of professional conduct — independence, objectivity, integrity, duty of care, confidentiality an d conflict of interest. e. State the qualification of an auditor. f. State persons disqualified for appointment as an auditor. g. Describe the procedure for appointing and removing an auditor. h.Examine the duties, responsibilities, powers and rights of auditors. i. Describe the process of accepting audit engagements. j. State and explain the contents of letter of engagement. k. Examine the legal liabilities of the auditor. l. Explain how auditors are remunerated. m. Explain management and auditors respective responsibilities for the presentation of financial statements and detection of fraud and error. 2. The regulatory framework of auditing and Professional Considerations 38 Institute of Chartered Accountants, Ghana Audit And Internal Review PAPER 2. 4: Audit and Internal Review MAIN TOPIC SYLLABUS CONTENT (Cont’d. ) 3. Basic Principles and Concepts of Auditing a.Explain the fundamental principles and concepts of auditing: †¢ Walk through test †¢ †¢ †¢ à ¢â‚¬ ¢ †¢ †¢ †¢ †¢ †¢ †¢ Weakness test Compliance test Substantive test Vouching Audit risk Audit sampling — judgmental and statistical, and sample selection methods Systems based audit Materiality True and fair view Directional and rotational testing Systems and risk based audit. 4. Auditing Planning and Evaluation a. b. c. d. Explain the purpose and advantages of audit planning. Describe the process of audit planning. Prepare audit planning memorandum. Examine analytical review procedures as a planning technique. e. Evaluate preliminary materiality levels and audit risks. f. Evaluate the adequacy of accounting system. 5. Internal Controls and Evaluation of Control Risk a. State the reasons for organisations having effective systems of control. b. Identify the fundamental principles of effective control systems. c. Identify the main areas of a business that need effective control systems. d.Identify the components of internal control in both man ual and IT environments, including: †¢ the overall control environment and Control Procedures †¢ preventive, detective and corrective controls †¢ internal audit as a control factor e. Define and classify different types of internal control, with particular emphasis upon those which impact upon the quality of financial information. f. Show how specified internal controls mitigate risk and state their limitations. Institute of Chartered Accountants, Ghana 39 Proposed Sylabus for ICAG Qualifying Examinations PAPER 2. 4: Audit and Internal Review MAIN TOPIC SYLLABUS CONTENT (Cont’d. ) 5. Internal Controls and Evaluation of Control Risk (Cont’d) g. Identify internal controls for an organisation in a given scenario. h. Identify internal control weaknesses in a given scenario. i.Identify, for a specified organisation, the sources of information which will enable a sufficient record to be made of accounting or other systems and i n t e r n a l controls. j. Defin e internal control. k. State and explain the types and limitations of internal control. l. Explain the following in relation to internal control: objectives, methods of ascertaining, recording, evaluation, testing systems, control environments and control p

Advertising Light Beer Essay

Our group decided to focus on light beer that is targeted to mainly college students. Since our clients are college students, we wanted to relate to their preferences of mainly inexpensive beer. We agreed to focus on competitors such as Bud Light, Miller Lite, and Coors Light, who all target mainly college students. According to an online article â€Å"Social Media Overview of Coors light, Bud Light, and Dogfish Head Brewery† Coors Light beer is one of the most popular beer brands in North America. Coors Light’s target demographic appears to be college students. After researching Coors Light’s social media we have learned that they do not update their Twitter page on a regular basis. In fact, their first â€Å"tweet† on Twitter was back in October 2009 that wrote, â€Å"Coors light BC is now on Twitter! This is your home base for the most up to date Coors Light Information, check here for event info and more.† Also, the only official Coors Light Twi tter account is named @CoorsLightBC, created from British Columbia and Canada. The article explains that since the creation of the Coors Light account, the company has only achieved a few over four hundred followers, and only having forty nine tweets. When searching, Coors Light on Facebook, the Canadian website appears, which only has a little over one hundred â€Å"likes† and only posted one picture that did not have an explanation beneath it describing the picture. Coors Light makes it difficult for its company to build brand awareness and drive customer engagement, which social media is greatly used to do. Coors Light’s Facebook page is bare and not informative. Since Coors Light targets their beer towards mainly college students, which most college students have Facebook pages, we feel that this puts Coors Light at a disadvantage. Since they are not updating statuses on Facebook or interacting with Facebook friends, they are not building brand awareness or driving customer engagement through this medium. Bud Light is the â€Å"number one selling beer† in the United States, according to an online article from Social Media Overview. Before researching, our group thought that Bud Light and Coors would be heavily involved with social media. However, we were surprised to see that the two large industries do not rely on social media. Bud Light does not have a Twitter account, however Budweiser does. Although Bud Light does not rely on Twitter to promote its beer, Bud Light is active on Facebook. Our group likes the updated format and timeline that Bud Light’s Facebook page has to offer. The pictures are appealing and they have over thousands of â€Å"likes.† The official website offers a place where you can watch the video ads for Bud Light, which was a good thing to include in the site. It also states at the top of the page that it is the official sponsor of the NFL. In addition, Bud Light Platinum has its own page, which it gives descriptions and other interesting information. For example, Bud Light’s well developed page offers Facebook friends chances to win contests along with other promotions. Our group enjoyed reading status updates on Bud Light’s page that tries to engage conversation with Facebook friends. In addition to Bud Light using Facebook frequently, Miller Lite plays an active role using Facebook to communicate with customers. Miller Lite uses its Facebook page to advertise its products, celebrity endorsements, videos, along with contests also. Miller’s Facebook page is easily accessed through visiting Miller Lite’s home website page. When looking for Miller Lite on Twitter, Miller Lite MX and Miller Lite Panama are the first two to appear, which both are in mostly Spanish. However, both Miller Lite Twitter accounts have over one thousand followers, and tweet consistently on a daily basis. We found it confusing trying to find Miller Lite’s U.S. Twitter page, since the other two accounts were in Spanish we did not find Twitter to be very useful to learn about Miller Lite. The Miller Lite website uses celebrity endorsements such as NASCAR driver Brad Keselowski and there is a button to follow Brad on Twitter. There is also a Miller Lite shop where you can purchase hats, t-shirts, etc online. We liked how they had a place on the website where you can find stores that sell Miller Lite near you and locate them. There was also a video blog with the Miller Lite commercials. Our group has learned that many popular and profitable companies do not frequently update their Facebook or Twitter page. However, being involved with social media can benefit companies greatly by giving them the opportunities to build brand awareness and drive customer engagement Works Cited http://patperdue.com/social-media-overview-of-coors-light-budlight-and-dogfish-head-brewery/ http://www.facebook.com/#!/miller.lite3 http://www.facebook.com/#!/pages/BUD-Light-Platinum/270969619613664 http://millerlite.com/ http://www.budlight.com/age_gate.php http://www.coorslight.com/AgeGate/

The Most Devastating Lifestyle Disease

Disease concept note: Type 2 diabetesBy:College:Course:Professor:Date:Type 2 diabetesDiabetes has been named as one of the most devastating lifestyle disease on the globe. Unlike other diseases caused by lifestyle practices like cancer; it has no curative medicine. If affected one is advised to maintain a strict prescribed routine and medication to help return body cells to their normal functioning. Only two types of diabetes exist and both have the same causes. Apart from Glucose levels; insulin levels dictated by livers production in ones bloodstream that dictate if he or she affected with either type of diabetes strains. In type 2; better as diabetes mellitus, the glucose measure in blood is comparatively high to the insulin to counter it in the blood stream. Insulin is a fluid originating from the liver to facilitate the intake of processed glycogen into all body tissues, glucose is essential as it acts like the fuel that make all the vital organs function. Surprisingly, the two types of diabetes have same origins and use almost the same treatments. A slight disparity is only noticed when two patients in question come from distinct age brackets. If so, there treatment differs. It is mostly adults above 41 years that get the disease due to inactivity and obesity. If exhibited in children the cause is usually narrowed to one hence treatment becomes easy.Signs and Symptomsfrequent thirst and urination When glucose builds up in the body, tissues usually become dehydrated because the glucose will be sucking water from them too maintain it aqueous state. In effect the patient will feel dehydrated, drink water frequently and urinate all the time.Increased hunger; if the tissues exhibit prolonged resistance to insulin, their glucose levels will gradually decrease and this will culminate their inactivity. They will send hunger triggers to the brain and the affected patient will be compelled to feel hungry from time to time.Weight loss; if tissues in the body resist insulin all the time, the body will adjust naturally by slowly burning the glycogen deposits in muscles into glucose. This will lead to a drastic loss of body weight. General body weakness and fatigue; these effects are caused by prolonged hunger and weight loss. The muscles in limbs will be dehydrated and the patient will frequently feel tiredBlurred vision; the body will naturally tend to dehydrate other body organs to stabilize its level of manufactured glucose running in the blood. The eye balls will be dehydrated; this will be followed by an uncomfortable itchy and eventually a blurred vision.Slow scab formation on injuries and sores; high sugar levels hamper the production of heparin; the effect being reduction coagulation. After this; untreated wounds and sores will take long to heal if not heal at all. Acanthosis; this is the appearance of dark spots and skin fold and creases. High Sugar level will cause the body defense system to become weak and the patient will have an altered skin appearance due to fungal and bacterial inhibitionCausesLifestyle; One's lifestyle is always pivotal to how his body functions, if one fat and sugar consumption has risen then he or she is more likely to experience devastating effect of diabetes mellitus. Generic trait transfer; If from the patients lineage there has been history of the diseases then it is more likely that that the disease was inherited.Insulin resistance: when tissues in the body frequently resist insulin, the likelihood of type 2 diabetes to take effect increases. As the absorption rate of glucose reduces the chances of disease creeping in skyrockets. ComplicationsWhen type 2 diabetes goes is not stabilized or of the treatment does not work then the following complications will appear. Note; these complications may appear gradually, or sporadically.Atheroscherosis; it is the hardening and tightening of blood vessels. When blood sugar levels rise they will corrode then clog the walls of veins. This may lead to insensitivity of limbs.Cardiovascular disease; the effect of glucose clogging the walls of blood veins is that the lumen will narrow and blood will pressure will increase. The later consequence of this is heart attack, stroke and eventually death.Neuropathy; high sugar levels cause severe injury on capillaries. he effect of this are tingly, burning, numbness or pain feeling arising from the feet up to other body organs in the thorax. Kidney damage; delicate capillaries located in the kidneys will be damaged and the blood filtration process will halt causing the kidney to fail.RemediesThere is no curative medicine for the disease and medicine is only prescribed to help calm the effects or hasten some the healing process. The below remedies are given as recommendations as they only touch on the patient's lifestyle.Diet check; a diabetic patient must be cautious of the fat and sugar levels in his meal. Foods that have cholesterol, trans fat, and saturated fats should avoided at all costs.Regular exercise; this helps reduce the fat level in blood. Excess fat makes body tissues resistant to insulin. Exercise will also maintain the blood flow in one's body. It doesn't have to vigorous; a 30 minute a day is enough.Weight check; drastic weight loss is a sign of the disease advancing and weight gain to uninfected people increases the infection risk. These are enough reasons to keep ones weight in check. Regular medical checkup; glucose tests should be done regularly to ascertain the sugar levels in ones blood. It is only by the checkups that a patient will monitor the progress of the disease.ReferencesSource of symptoms and signs of type 2 diabeteshttps://www.mayoclinic.org/disease-conditions/type-2-diabets/symptoms-causes/Source of causes and remedies type 2 diabeteshttps://www.everydaydiseases.com/heart-health/heart-disease-and-diabetics

Advantages and Disadvantages of EU Research Paper

Advantages and Disadvantages of EU - Research Paper Example This has promoted economic progress and convergent political ideology that has significantly boosted the peaceful co-existence of the member states. EU has some challenge to the stronger economies that are members like Germany. Their economy is vulnerable to sump in regard to homogeneous currency due to the burden from unstable economies like Greece. The reduced barrier to trade has facilitated cross border transaction. This means significantly lower cost of business among member states with greater gain in terms of efficiency and consistent supply of goods and services. Divergent political ideologies have facilitated internal disagreements on macro and micro-economic policies. This has led to instabilities in specific policy recommendations especially in the aspect of political and economic performance disparities among member states. EU members use a common currency which helps citizens from member states to transact easily in any of the countries. This has promoted economic strength of the region and socio-political co-operation in the region. The effect has been seen in stronger currency relative to the US dollar. Mass consumption that results from this scenario continue to expand the economic performance of the Union. The economic disparity among member states means that the poor performers are exposed to indirect suppression and face significant macroeconomic pressure to comply with the Union’s requirements. This has a structural socio-economic huddle that has seen some member states exhibiting uncooperative behavior. Besides, the globalization effect seems to override some member states capability hence leading to unpredictable economic prospects. Owing to the strong economic ranking of most member states and the mass industrialization that characterize the region, it offers better bargaining power in international market. This has significant boost in industrial growth, political

Responce lettr Essay Example | Topics and Well Written Essays - 2000 words

Responce lettr - Essay Example Therefore, the meaning family tends to be on an individual basis because each individual could be living in a unique household. The increase in divorce rates is relatively alarming and the changes in sexual preferences have influenced families to adopt different family structures across many of the civilized nations. The implication of this is that this concept is not a unique challenge because the occurrence of broken families applies in mostdeveloping and developed societies. However, parents have the responsibility of helping their children to understand that these challenges exist rather than leaving them to suffer because of the sour relationship that may exist between them and their estranged spouses. In this case, this response letter will seek to explain how best individuals can express themselves without harming the feelings of other family members using the Johari window of disclosure. Further, it will also focus on the ways of easing dialect tension that may exist between family members using the dialect tension theory and the possible ways of communicating with them in order to avoid such tensions in the future. 1. Self-disclosure As per this scenario, the advancements made in technology such as social media helped in establishing a relationship with a sibling from the father that abandoned his family years back.The challenge here is that how does one remain loyal to the family that provides them with shelter and the other necessities of life andalsoseek to establish a bond with siblings from the other parent without hurting their feelings. One feels as though they have the obligation to lay out the facts straight before both parties, but this has a high likelihood that one of the parties might be hurt in this process (Rotenberg, 2006). Essentially, this can be challenging to the self-disclosure aspect in which one feels that developing a relationship with a family that their parents do not approve of makes them disloyal and ungrateful. Self-disclos ure is the most advisable way of handling such a situation as compared to lying, secrecy, or making hints that may suggest disloyalty to family. However, no options for maintaining a healthy relationship between family members are without consequences, but the outcome has not been as severe in the event that one comes out clean about the situation. In this case, an individual seeks to know the other family members that they share a lineage with the mistakes committed in the past are hindering the prosperity of this newfound relationship. However, the secret conversations that began without intending any harm could have been the beginning of this stalemate, but this does not mean that anyone is to blame for this situation. In this case, the mother and the stepbrother appear to be of importance, but the question that begsis to what extent. There is also the opportunity to know the stepbrotherbetter and develop a lasting relationship or maintaining the good mother-child relationship th at has existed for a much longer time. In order to establish whether the self-disclosure process is worth the risk, it is pertinent to ascertain whether it is substantive to do so or whether it is worth the risk. On the contrary, the execution ofself-disclosure should be with caution especially on the sibling met via Facebook because their personality is still a mystery. The Johari Window model of self-disclosure 1. Open/ free

Journal Essay Example | Topics and Well Written Essays - 250 words - 101

Journal - Essay Example Economically, business organizations are embracing social media for their growth and survival. From marketing their products or services to interacting with their potential employees virtually, producers and employers respectively are saving on time and costs favoring profit making. Skilled labor for the companies behind the social tools creates employment for many where they are based. In addition, social media is enlightening people from different cultural backgrounds on the various beliefs thus contributing to world peace because of mutual understanding amongst individuals. Interracial relationships are proof of the understanding. On the other hand, there is a spur of criminal acts because a persons’ location is both voluntary and involuntary exposed to the public. This makes it easier for a criminal to track down their victim without going through trouble especially if both are within the same locus. Person to person social interaction is disintegrating because virtual interaction seems easier. Consequentially, this has diminished hospitality and courtesy while promoting cyber bullying. The latter and over exposure to the devices in use to access social media has brought about psychological and physical health issues, which are affecting thousands the users by the day. This in turn counteracts the output of the individuals to an economy leading to decreased productivity of the economy in the long

Gospel of Mark Paper Essay Example | Topics and Well Written Essays - 1500 words

Gospel of Mark Paper - Essay Example rk was seen as a â€Å"translator or interpreter† of Peter – according to a statement made by a church father called Papias – with many commentators trying to identify his work with what â€Å"could only have come from Peter† (Court, 1990, p.47). On the other hand, as Drane points out, there are â€Å"remarkable similarities† between the first three gospels, aka the synoptic gospels, namely Matthew, Mark and Luke, which contain almost identical accounts of the teachings of Jesus; this comes to mean that they either derived their material from a common source or two of them are based on the third (2001, p. 1-2). Court writes that there has been â€Å"an explosion of a different kind of scholarly interest† in the Gospel of Mark during the second half of the twentieth century, with a different emphasis on what the writer – referred to as â€Å"Mark† – himself intended, presenting the materials he had collected in a particular way (1990, p. 47). Moreover, a close examination of the three synoptic gospels indicates that both Matthew and Luke used Mark’s gospel as the basis, â€Å"into which they fitted the extra material† they deemed it necessary (Drane, 2001, p.3). However, scholars widely agree that the Gospel of Mark is the â€Å"nearest thing† to a report of Jesus’s life, aiming to communicate a â€Å"picture of Jesus as he was† (Drane, 2001, p.6); while the complex themes Mark treats about the person of Jesus, along with the most pervasive and problematic feature – the theme of mystery and the hidden identity of Christ – actually denote a theological approach in the understanding of Christ (Court, 1990, p.48-49; Moloney, 2002, p.6). Although Mark’s gospel tells the facts of Jesus’s life, as stated by Drane, â€Å"in the simplest and most dramatic way†, it begins with the declaration of faith (2001, pp.6-7): â€Å"The beginning of the gospel of Jesus Christ (the Son of God)† (Mark 1:1 New American Bible). Moving rapidly from John the Baptist to Jesus

Development of Brazil's Market Essay Example | Topics and Well Written Essays - 1000 words

Development of Brazil's Market - Essay Example The process of industrialization that took place around the year 1960 led to the development of economic sectors like the automobile industry, steel industry and the expansion of the infrastructure ventures. After world war two, the economy of Brazil rose and by the year 1975 it had an annual Gross National Product of 7.4%. On the other hand, the Gross Domestic Product (GDP) was ranging to 8.5%. Moreover, by around 1970s the per capita income of Brazil multiplied four times putting it at around US$ 2,200. Around the year 1980s, United States made a significant step that in turn affected the international trade market. It increased the rate of interest in the capital market. That factor made Brazil make an adjustment in the economy, which later translated to the economy of Brazil dropping so drastically. From the year 1990, Brazil made several reforms in the economy like privatization of certain industries, tightening measures in the economy that encourages foreign investment. Further more from this decade, Brazil resorted to supporting the internal economy; therefore it decided to encourage investors in the country. In an effort to implement new changes, Brazil experience inflation, until they decided to improve income distributing. The Brazilian exchange market for the year 2009 was at 25%, however, three years later BOVESPA showed negative deviation reduced to 20%. In the successive years, the stock exchange market has drastically dropped to the extent that most of the people do not want to talk about the market trend. The primary reason as to why there was a decrease from the year 2013 was because of low demand for the products of China that is the principal trading partner. In addition to that, the kind of leadership in China has also contributed the dwindling in performance in the stock exchange market. The female president who was elected in the year 2011 concentrated much on the on the banking and other

Heroic Paradigms from Iliad to Aeneid Essay Example | Topics and Well Written Essays - 2000 words

Heroic Paradigms from Iliad to Aeneid - Essay Example The Aeneid does not explicitly deal with Roman politics in fact it is a story about a mythological figure Aeneas who lead Trojans to Italy after the Greeks destroy their homeland. Unlike Homer’s Aeneas who is portrayed as a warrior who boasts about his prowess on the battlefield and then proceeds to lose in every one of them since he was a bad warrior Vergil projects him as a tragic figure who is in search of a rational explication about the actions of God who destroy human beings and make them suffer, The same Gods who love and protect him. Some of the major heroic paradigms that are explored in â€Å"The Iliad† include the ideals of heroism: bravery, courage, super-strength, intelligence and nobility. The Homeric Hero is a man of action who is never incapacitated because he survives on his instinct. Unhindered by doubts he soars above humanity and performs action that ensures his ever lasting fame and glory. Achilles fits this description of Homeric Hero although it i s observed that his character develops gradually through out the text. The readers realize that Achilles of Iliad 22 is a man with a higher mission, who is ready to stake everything, including his own life in order to fulfill his mission. Hence he acts totally differently from the man of Iliad 1 who acts as a petulant child with a short temper and has the tendency of making irrational decisions. Therefore it can be inferred that the glory associated with Homeric Hero lives up to the definition of a hero of the Greek times. So it is perceived that the audience of the time believed that a hero should be an individual above all other human beings with special qualities of bravery, strength and intelligence. On contrary Aeneas is introduced in the poem as, â€Å"And suddenly Aeneas felt his limbs go numb with cold †¦I envy your fate†¦Why didn't you kill me on the plains of Troy When you had the chance and free my soul with your strong hand?† (Vergil 3). In the very begi nning the protagonist has surrendered his will to fate and desires death. This explication is in complete contrast to the heroic paradigms set by the Greeks. Hence from this it can be inferred that Vergil’s Aeneid enlightens the readers about the cultural trend during the Vergil’s time had shifted from hero worship to a character more closely related to a common man who suffers pain and is not above the rest of mankind. Western Thought According to Plato and Aristotle the best way of learning is through communicating with others or collectivization. Socrates ‘Dialectic Method’ is a common technique that is employed in most of the classes. According to which he sat in the market place, started of a conversation on a certain topic and then picked up their flaws out of the ensuing argument and then brought each conversation to a proper ending or conclusion. A similar style of discussion and study is also implemented in this course of philosophy. This method h elps the students to not only think about and share their personal ideas but also it enlightens them about the thoughts and feelings of their fellow students as well hence providing them with an opportunity to learn from the experiences or the point of views of other individuals. The Early Western thought processes of each writer vastly differ from one another. For example although Homer and Vergil in their respective epic poems deal with same mythological figures yet

PRINCE2 Scenario 1 Essay Example | Topics and Well Written Essays - 500 words

PRINCE2 Scenario 1 - Essay Example n would help in tracking processes, generating exception reports in case of failures, taking corrective actions for corresponding sub-processes and rendering appropriate feedback to authors. Proper format would also help in logging in explanations for different sub-processes, understanding the relationships between them and thereby determine what inputs and outputs each process require. 6 The Department of Education and Training (DET) is one of the largest departments of Queensland Government. Prime objective of this department is to enrich the life of the people of Queensland by involving them in a lifelong learning process by the means of education and training. The department wants to be the renowned among the Queenslanders as the prime service provider. The department also wishes to provide more advanced and attractive service to the people and want to become the first point of contact of students, parents, jobseekers, employers and community support organizations. The Department of Education and Training, in order to achieve all above mentioned objectives, has selected online media to introduce all its services and to provide all required information to the people of Queensland. The main objective of choosing online media is department want to provide an integrated view of all its activities and priorities to the internet clients. Currently the department’s websites provide all the information regarding the old Department of Employment and Training. Presently there are two websites of the department. These are http://web.archive.org/web/20020926093202/http://www.det.qld.gov.au/ and http://web.archive.org/web/20021122174416/http://www.tafe.net/. In order to modify and change this web presence department has decided to invest a lot in technology, with the objective of improving the usability, functionality of the websites. A project board has been established; where the practice manager of the department named Jason Kennelly is the executive. Department

Should journalists get close to politicians Essay

Should journalists get close to politicians - Essay Example Notwithstanding this, politicians need channels of media in order to be imaged for their voters in a favorable way; in turn, journalists need politicians for their news making. In such a context, in a given paper it is stated that journalists are unavoidably close to politicians; however, in given conditions their judgments should be as independent as possible. To start with, previous century showed that journalists and politicians were working as the partners. Historically, media were included in the wider field of power, elections and politics. In particular, successful ideological propaganda of World War I and the 1930s are the most dramatic cases in this context (Blumer and Gurevitch, 1995, p. 11). In fact, these social spheres showed themselves as really powerful in the retrospective; and so, it is crucial to realize the scale of this impact. In combination of journalism and politics, mental influence caused by media appeared to be much more effective than torturing bodies by physical violence in the previous centuries (Mateos, 2009). This is the reason why the unity of media and politics was inevitable as together they double the influence they accomplish. And so, media steadily forgot to report on and about politics as independent observer; in turn, journalists behave as active participants in the political struggle (Blummer and Gur evitch, 1995: 4). Therefore, analysis of journalism will be insufficient if political component is eliminated from its content. Moreover, previous bipolar system that determined international relations also led to the emergence of ideologically specific media. In this context, Robert McChesney discussed the influence caused by the former political situation in America which paralyzed all the efforts to create more democratic system free of corporate media (McChesney, 2004). As a result, the three-dimension approach to define media appeared: private (or corporate),

International development project analysis Essay Example for Free

International development project analysis Essay Introduction: †¢ New science, technologies and ideas are crucial for the achievement of the goals, but global research investments are insufficient to match needs and do not focus on the priorities of the poor. †¢ Many technological and policy innovations require an international scale of research effort. †¢ DFID’s (Department for International Development) Central Research Department (CRD) commissions research to help fill this gap, aiming to ensure tangible outcomes on the livelihoods of the poor. †¢ CRD seeks to influence the international and UK research agendas, putting poverty reduction and the needs of the poor at the forefront of global research efforts. †¢ CRD manages long-term research initiatives that cut across individual countries or regions, and only funds activities if there are clear opportunities and mechanisms for the research to have a significant impact on poverty. †¢ CRD works closely with DFID’s Chief Scientific Adviser to maintain external links, particularly with UK Science, Whitehall and political stakeholders, to promote DFID’s agenda. †¢ DFID is seeking views to help it develop a new research strategy 2008-2013. Your chance to get involved When developing policies, it is recognized that consulting with a wide range of interested groups helps to ensure that the impact of its proposals on different sectors of society is taken into account. Public consultations are carried out wherever possible as recommended in the Code of Practice on Consultations by the Cabinet Office in January 2004. The Code aims to increase the involvement of individuals and groups in public consultations, minimizing the burden it imposes on them, and giving them enough time to respond. This guidance is used in conjunction with the compact between the government and the voluntary and community sector which includes a specific code of good practice on ‘Consultation and Policy Appraisal’. If you would like to take part in DFID public consultations, information will be posted on these pages. . . . Page-2 Page-2 Consultation The Cabinet Office is conducting a review of Consultation Policy to see how Government consultations can be improved and is keen to hear your views. As the centre–piece of this review, Hilary Armstrong MP, Minister for the Cabinet Office and Social Exclusion, has launched a paper entitled â€Å"Effective Consultation† to seek evidence on Government consultations. The consultation is aimed at anyone with an interest in responding to government consultation exercises, from those who regularly respond to the Governments consultations to those who might be interested in doing so. These might include business organizations, voluntary and charitable sector organizations, campaigning bodies, trades unions, citizens, etc. The Better Regulation Executive is keen to meet with people who have experience of Government consultations and to discuss with them how Government consultations can be improved. The BRE is therefore organizing a series of events with Government Offices including two, larger, public seminars on the subject. †¢ Annual Reports: Assessment of performance on government consultations. †¢ Code of Practice: The Cabinet Office Code of Practice on Consultation sets out the basic principles for conducting effective Government consultations. †¢ Consultation Guidance: Guidance for running consultations in government. †¢ Current Cabinet Office Consultations: A list of current Cabinet Office consultations with links for more information. †¢ Government Consultations: Links to departmental consultation websites. †¢ Effective Consultation Events: Further details on the Better Regulation Executives program of Consultation events. The following eight Millennium Development Goals (MDGs) were agreed at the United Nations Millennium Summit in September 2000 and nearly 190 countries have subsequently signed up to them. The eight Millennium Development Goals: 1. Eradicate extreme poverty and hunger. 2. Achieve universal primary education. 3. Promote gender equality and empower women. 4. Reduce child mortality. 5. Improve maternal health. 6. Combat HIV and AIDS, malaria and other diseases. 7. Ensure environmental sustainability. 8. Develop a global partnership for development. . . . Page-3 Page-3 REPORTS AND FORMATS Annual Report Format for DFID-contracted Research Programmes Front cover with Title of Research Programme, Reference Number and the Period Covered by the report. Include a table of contents, annexes, etc. , as necessary. 1. Background Information Title of Research Programme: Reference Number: Period covered by report: Name of lead institution and Director: Key partners: Countries covered by research: Planned Actual Start Date: End Date: Total programme budget: 2. One page summary (A narrative focussing on two main questions: (i) How far have intended outputs as listed in the logframe been achieved? And (ii) What is the impact of the research programme so far? ) 3. Key Themes Progress towards outputs and impact What are the research outputs? Outputs OVIs Progress Recommendations/Comments Where are the research impacts? Purpose OVIs Progress Recommendations/Comments 4. Lessons learnt †¢ Working with Partners †¢ Good Practice/Innovation †¢ Project/programme Management †¢ Communication 5. Programme Management Annual Report Summary sheet for R4D 1. Background Information Title of research programme: Reference Number: Period covered by report: Name of lead institution and Director: Key partners: Countries covered by research: Start Date for research programme: End Date for research programme: 2. One page summary 3. Products and Publications Inception Phase Report Format Front cover with Title of Research Programme, Reference Number and the Period Covered by the report. Include a table of contents, annexes, etc. , as necessary. 1. Background Information Title of research programme: Reference Number: Period covered by report: Name of lead institution and Director: Key partners: Countries to be covered by research: 2. A document of overall plans to complement your research proposal and setting out: †¢ Themes. †¢ Planned activities. †¢ Areas for development during life of the research program. †¢ Where appropriate, a response to referees comments on the original research proposal and/or any comments or note of endorsement from the CAG/CARG. 3. Finalized log frame 4. Plans for capacity development 5. The Management structure for the research program 6. Ongoing monitoring arrangements for the research program 7. Communication strategy 8. Annual activity plan 9. Detailed financial plan.