Internal Control of Accounting System Essay Example | Topics and Well Written Essays - 2000 words

Internal Control of Accounting System - Essay Example The propensity for loss is great irrespective of the nature of the fraudulent activity. Fraud threatens the stability of a business as it leads to significant financial losses. According to Association of Certified Fraud Examiners, employee theft accounts for 7% of typical businesses losses (Chorafas, 2001). Accounting professionals are the trusted advisors for business clients. It is upon the accountants to educate business clients about the risks associated with fraud, and the significance of good internal controls and how to implement internal controls. This paper discusses suggestions for overcoming the lack of segregation of duties that are often present in small businesses due to inadequate staff. The paper further explains the important role business owners and independent accountants play in creating a good internal control environment. The paper discusses red flags, which may be indications of fraud along with several reports that are helpful in monitoring and reviewing financial records (Vona, 2011). The accounting system offers businesses with a constant way in which to use their data and financial material. A system of control is essential as it controls the three key partitions within the accounting system. These segments include the design, analysis, and implementation. Internal control is a system within a system and it plays a major role in the success of the accounting system.  An accounting system controls businesses from fraud and abuse by ensuring that information employees relay timely and accurate information and that all the accounting processes meet set regulatory requirements. This paper discusses how internal controls are set and how the control system functions (Basingstoke, 2004).

Doping in Sports Research Paper Example | Topics and Well Written Essays - 1000 words

Doping in Sports - Research Paper Example Doping in athletes is the most current element that threatens the entire athletics body in the world. Athletes have been found to have used performance enhancing drugs in various athletic competitions through out the world. The motive behind the use of these drugs is not yet established. But the fact remains constant that the primary reason for using performance enhancing drugs by some athletes his to gain competitive advantage and thus snatch the rewards. In some cases personal accomplishments and ambitions such as the need to win medals for their countries are among the driving factors that make athletes engage in doping. Among the commonly abused drugs among athletes include anabolic asteroids, androstenedione, human growth hormones, stimulants, creatine, erythropoietin and diuretics. According to this research, about 1-3 million athletes in the United States have been involved in the use of anabolic steroids by the year 2005, with designer steroids being the commonly abused (O'Le ary and John 23). II. Dangers and Side effects The side effects and the health risks associated with performance enhancing drugs are difficult to assess to the fact that these drugs are illegal. However, studies have revealed the consequences of using these drugs as discussed below. Effects of anabolic steroids The use of anabolic steroids comes with very adverse effects on athletes. The effects however, manifest themselves differently depending on gender. For instance, men develop prominent breasts, baldness, infertility and impotence. In advanced stages, the male testicles become shrunken. On the mother hand, females develop deeper voice, increased body hair, baldness, frequent or sometimes absence of periods (Houlihan and Barrie, 67). Effects of Androstenedione This is a drug that is legally found in prescription form. However, the use of it as a performance enhancing drug is illegal in some countries like the United States of America. The effects of androstenedione in men are; diminished sperm production, breasts enlargement and shrinking of the testicles. In females the effect is that is common is masculinization, such as voice deepening and male-pattern baldness. Effects of human growth hormones This hormone is also known as gonadotropin, and is mainly used by athletes to increase the mass of the muscles and performance. However, the human growth hormones have anabolic effect. Among these effects are; High blood pressure (hypertension), Muscle weakness, Diabetes, pain in the joints and impaired glucose regulation (Khan et al, 12). III. Drug testing procedures Test for doping can be done in two ways. One through blood sample test and the other is done through urine sample test. However, urine sample test is the most commonly used method. The procedures followed are as shown below. Step1. Notification of selection for a urine test The athletes are notified of selection for a test an anti-doping agency through the use of an official Doping Control Form. Step2. Reporting for sample collection The notified athletes are expected to report to the Doping Control Station with immediate effect on the specified time. The