Reporting, Meetings And Timing Period - 1419 Words

REPORTING, MEETINGS TIMING PERIOD Project meetings are the most effective way of communication and distribute information among project stakeholders. Basically, it is an event which involves everyone who shares information or has any interest or influence in the execution of the project by discussing issues, accepting or rejecting any proposals and making group decisions to deliver the project faster and more efficient according to the planned baselines and expected outcomes. (Eric McConnell, 2010). Progress monthly reports: Within seven (7) calendar days after the end of every month a comprehensive project progress report shall be provided covering every significant aspect of the works. Progress Monthly Reports shall include: 1. Executive summary. 2. Safety statistics for the month illustrating safety related trends. 3. Any environmental incidents including details of incident, impact and corrective actions. 4. Summary of any potential and actual issues, including with respect to schedule, safety, environment, quality, cost, interfaces etc. And proposed remedial actions. 5. Narrative of major events and incidents. 6. Color photographs, showing progress in each significant area of work at site. 7. The works schedule updated to the month of reporting. 8. Where critical path activities are behind schedule a description of the actions taken or to be taken to ensure project completion date occurs by the time required. 9. Narrative on the most significant changes, additions,Show MoreRelatedEssay on Fraudulent Financial Reporting Schemes1289 Words   |  6 PagesFraudulent Financial Reporting Schemes Abstract Routine examinations, audits, or internal control procedures, do not reveal most accounting fraud. Only 20% is revealed by way of auditing, however whistle blowing accounts for most revealed accounting fraud. Financial statement fraud will usually occur in such schemes as: fictitious revenues, timing differences, concealed liabilities amp; expense, improper asset valuation, or asset/revenue overstatements (just to name a few), (Frempong, 2012)Read MoreSubsequent Events At The End Of The Accounting Period1574 Words   |  7 PagesEvents Subsequent events are events or transactions that occur after the balance sheet date, but before the financial statements are issued or available to be issued(FASB, 2009). Auditors must evaluate subsequent events at the end of the accounting period and discuss material items with the auditing team. There are two types of subsequent events, recognized and non-recognized(FASB, 2008). 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The company’s investment properties in Australia and properties held in joint venture entities are all subject to a semi-annual review to a fair market value every reporting period. The properties were independently valued made by external valuers or reviewed internally by the Property Review Committee and the directors of the company which shows that it is in accordance with the Accounting Standards on measurement afterRead MoreEssay about Purposes of Measuring and Reporting Systems for Companies1034 Words   |  5 Pages1. There are three key measuring and reporting systems for any company. Describe each of these and their purpose: Cash Flow Statement: A cash flow statement is a month by month statement of anticipated cash in against cash out. They assess the amount, timing and predictability of cash inflows and cash outflows and are used as the basis for budgeting and business planning. It provides a sharper picture of a companys ability to pay creditors and finance growth. Each section of the cash flow statementRead MoreThe Distribution Of Annual Net Income Scaled By The Market Value At The Beginning Of The Year1618 Words   |  7 Pagesdefines real earnings management (RM) to be the timing of investment or financial decisions with the direct intention of altering reported earnings or some subset of it. RM is a category of earnings management accomplished by changing the firms’ underlying operations, as opposed to changing accounting methods in reporting. Gunny (2005) focused on 4 major types of RM activities; decreasing discretionary RD expense, decreasing discretionary SGA expense, timing the sale of fixed assets to rep ort gains andRead MoreCase Report: Hms Pinafore1717 Words   |  7 Pagescostumes, advertising and any other service needed. Francis and his team will observe the exam period on mid December and also the Christmas holiday season as the University will be closed. Francis will have to make a network plan, identify the critical activities and execute the plan accordingly. From now on, we will meet with Francis and his team bi-weekly to follow-up the plan and ensure the timing and quality of the event. I. Process Elements /Table of Content Read MoreLong Distance Discount Services ( Ldds )1460 Words   |  6 Pagesethical accounting practices and having a strong corporate governance system in place. 2. Earnings Management (Q1A) Earnings management can be defined as the act of disclosing an earnings figure to stakeholders that has been reached after carefully timing certain economic events in order to have a positive influence on the reported figures (Degeorge et al 1999). 2.1 Motivations for Earnings Management Research has pointed out that managers choose to manage earnings due reasons such as capital marketRead MoreInvestigating The Auditor s Responsibility1731 Words   |  7 Pagesfraud that can act as a lead to the auditor in identifying fraud. 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REM is regarded as a short-sighted behaviour because it manipulates real activities, reducing companies’ long-term cash flow to increase short-run earnings (Roychowdhury, 2006). Thus, there is a