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Value for Money Audits
 
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"Everyone can use that extra set of critical eyes to help find waste and inefficiencies in government" ~ Bart Maves
Views: 681 Bart Maves
04. What is Value for Money.wmv
 
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This is the second video session on PFM jargon. We explain the meaning of 'value for money'. Go also to the PFM Board at http://pfmboard.com/index.php?topic=6406.0 to download a brochure issued by the UK Government on best practice for Value for Money in complex procurements.
Views: 2370 napodano
Efficiency, Effectiveness and Value for Money - Launch of Universities UK report 26th Feb 2015
 
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Efficiency, Effectiveness and Value for Money - Launch of Universities UK report 26th Feb 2015 with Sir Ian Diamond
Views: 1175 Universities UK
ASP (VALUE FOR MONEY AUDIT)
 
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-- Created using PowToon -- Free sign up at http://www.powtoon.com/youtube/ -- Create animated videos and animated presentations for free. PowToon is a free tool that allows you to develop cool animated clips and animated presentations for your website, office meeting, sales pitch, nonprofit fundraiser, product launch, video resume, or anything else you could use an animated explainer video. PowToon's animation templates help you create animated presentations and animated explainer videos from scratch. Anyone can produce awesome animations quickly with PowToon, without the cost or hassle other professional animation services require.
Views: 257 Tiara Aw
Value for Money in PPP -- Part 1
 
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Find courses at htpp://financeenergyinstitute.com Find files at htpp://edbodmer.com Shows how to set up equations for evaluating value for money in the context of PPP. Relatively simple equations
Views: 626 Edward Bodmer
The National Audit Office’s Value-for-Money Assessment of Transport Investments - Geraldine Barker
 
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Presentation on "The National Audit Office’s Value-for-Money Assessment of Transport Investments " by Geraldine Barker, National Audit Office, UK. Presented at the ITF Roundtable on "Ex-post assessments of transport investments and policy interventions: Prerequisites and methodological challenges" Paris, 15 September 2014.
Views: 389 IntTransportForum
Value of Audit: What misperception of audit would you bring clarity to?
 
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Four KPMG audit leaders from across the globe clear up some misperceptions around the audit. Follow #ValueofAudit on Twitter
Views: 1037 KPMG
Value for Money : Senate Wants Full Audit Of $16bn Egina Oil Field Project
 
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The Nigerian Senate has through its committee on local content demanded for full audit of the 16 billion Egina oil field Variation which was launched in 2013, with a target to commence operation in 2018‎. The upper chamber also‎ said that following allegations of corruption embroiled in the project, the Nigeria National Petroleum Corporation (NNPC) ought to have called for audit under the term of its contract. This is coming after the ad-hoc committee investigating the local content elements and cost variation of the Egina oil field contract and presented ‎first phase of it report to Senate‎ before embarking on recess. The chairman of the Committee, Senator Solomon Adeola made the demands while addressing contractors handling the Egina oil field contract, NNPC representative at National Assembly Complex today in Abuja.
Views: 386 Viable Tv
Why Audit?
 
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KPMG clients look to our audit professionals for the ability to provide a high-quality financial statement audit and industry insight and valuable perspective on salient business issues. Each of our engagements is tailored to the client's operational structure, industry and size, in order to meet professional standards, achieve the needs of investors and the capital markets and satisfy client's and audit committee expectations. We hire audit professionals who can help provide an independent, accurate, and transparent audit. Your commitment to quality, service, and integrity is key to your success, and ours.
Views: 27407 KPMG US Careers
Capital Budgeting 5: Present/Future Values- Higher Cash Balances
 
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Ken Boyd is the owner of St. Louis Test Preparation (www.stltest.net). He provides tutoring in accounting and finance to both graduate and undergraduate students. As a former CPA, Auditor, Tax Preparer and College Professor, Boyd brings a wealth of business experience to education.
Views: 2213 AccountingED
VAGO - Results of 2016–17 Audits: Local Government
 
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Victorian Auditor-General's report on Results of 2016–17 Audits: Local Government, tabled 29 November 2017.. This report comments on the outcomes of the 2016–17 financial report and performance statement audits of the local government sector.
Views: 292 VAGO ASG
AMERI SAGA: There was no value for money audit on the agreement- Minority. (1-08-18)
 
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AMERI SAGA: There was no value for money audit on the agreement- Minority.
Views: 775 MyJoyOnline TV
Value for Money audit for the G8 Legacy Fund
 
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Will the government support the AG in conducting a value for money audit on the G8 Legacy Fund
Views: 159 John McCallum
Universal Credit 'may never deliver value for money'
 
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Universal Credit 'may never deliver value for money'. The government's Universal Credit system has not - and may never - deliver value for money, according to a public spending watchdog. In a highly critical report, the National Audit Office (NAO) says the single payment scheme may cost more than the benefits system it replaces. It added that it might never be known if it will achieve its stated goal to increase employment. Universal Credit is the government's reform of the benefits system, consolidating benefits such as tax credits, unemployment and housing benefit into one monthly payment. It is designed to simplify the benefits system and to provide added incentive for claimants to find employment. This is the impact of universal credit. Line 18: Is welfare really working? The NAO report offers a withering critique of the scheme, echoing long-held criticism voiced by its opponents. It found the roll-out of Universal Credit has been much slower than was intended. It was due to be in place by October 2017, but after a number of problems only around 10% of the final expected caseload are currently claiming the benefit eight years later. The NAO found that in 2017, around one quarter (113,000) of new claims were not paid in full on time. Late payments were delayed on average by four weeks. From January to October last year, 40% of those affected by late payments waited around 11 weeks or more, and 20% waited nearly five months. The report authors found the use of foodbanks increased more rapidly after Universal Credit was rolled out to an area. However, they concluded that the scheme will continue because of the complexity that would be involved in returning to the previous system of benefits. Amyas Morse, head of the NAO, said: "The Department has pushed ahead with Universal Credit in the face of a number of problems, but has shown a lack of regard in failing to understand the hardship faced by some claimants. "The benefits that it set out to achieve through Universal Credit, such as increased employment and lower administration costs, are unlikely to be achieved. Yet the Department has little realistic alternative but to continue with the programme and hopefully learn from past mistakes." The NAO also found the Department of Work and Pensions (DWP) had not shown "sufficient sensitivity" towards some claimants and that it does not know how many are having problems with the programme or have suffered hardship. Reacting to the report, Frank Field, the chair of the work and pensions select committee, said: "This report blows up the DWP's constant assertion that everything is going well and that any criticism comes from those who wish to make trouble for Universal Credit. "The points that individuals have raised with the select committee are now writ large as systemic faults within the system and the government is caught in a trap of its own making. "The Universal Credit we have seen is a shambles, leaving a trail of destruction in its wake. Sadly, this report will make little difference if the senior officers running Universal Credit remain firmly entrenched in La La Land." In response to the report, a spokesperson for the DWP said: "Previous administrations poured billions into an outdated system with a complex myriad of benefits, which locked some people into cycles of welfare dependency. "Whereas we are building a benefit system fit for the 21st century, providing flexible, person-centred support, with evidence showing Universal Credit claimants getting into work faster and staying in work longer. "Universal Credit is good value for money and is forecast to realise a return on investment of £34bn over 10 years against a cost of £2bn, with 200,000 more people in work. Furthermore 83% of claimants are satisfied with the service and the majority agree that it 'financially motivates' them to work. "As the NAO acknowledges, we have made significant improvements to Universal Credit as part of our 'listen and learn' approach to its roll-out, and it's on track to be in all job centres nationally by the end of 2018." World Business Current Affairs Financial Economy Global Markets Original Jedi Business Donations Welsome https://www.paypal.com/cgi-bin/webscr?cmd=_s-xclick&hosted_button_id=DPK4PYVL8ZSZN
Value for Money
 
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Fazer mais com o dinheiro público !!!
Views: 444 Canal PPP
Brian Pallister asks acting auditor general to conduct a value-for-money audit
 
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Leader of the Offical Opposition Brian Pallister and MLA Heather Stefanson announced that they have asked the acting auditor general to conduct a value-for-money audit into the construction of Investors Group Field.
Views: 120 WinnipegFreePress
Introducing 'Value For Money' with Michael Weatherhead
 
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http://www.imainternational.com/training/factsheet/Value+for+Money http://www.nef-consulting.co.uk/ http://www.imainternational.com/ Michael Weatherhead, International Director, NEF Consulting introduces our 'Value For Money' course. This unique 5-day programme gives you the tools and knowledge to maximise and embed value for money (VfM) approaches in your projects, programmes and organisation. You learn about best practice in economic theory as well as how to practically apply existing and emerging tools. To develop and deliver this course, we partner with NEF Consulting, the consultancy arm from the leading UK think tank NEF (New Economics Foundation). This partnership combines the technical know-how of NEF Consulting with IMA’s extensive international development experience to deliver this unique course. It is designed for development practitioners responsible for maximising VfM through all elements of programme and project design and delivery. Delivered by development economists NEF Consulting, you will benefit from the latest thinking on how to guarantee your activities deliver maximum value to your organisation and its stakeholders.
Views: 689 IMA International
Audit Evidence: Analytical Procedures - Lesson 3
 
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In this video, 4.04 – Audit Evidence: Analytical Procedures – Lesson 3, Roger Philipp, CPA, CGMA, shifts the discussion of analytical procedures to a focus on financial ratios. The current ratio is current assets over current liabilities and is a measure of a company’s short-term liquidity. The quick ratio, or acid test, is similar to the current ratio but removes inventory from the numerator because inventory, though it is a current asset, is not as readily convertible to cash as other current assets. Next, Roger talks about the accounts receivable turnover ratio and gives us a handy way to remember the components of any ratio with ‘turnover’ in its title. This is to take the subject of the turnover ratio (in this case ‘accounts receivable’ is the subject), and flip it over into a fraction where the average subject balance is the denominator (in this case, average accounts is the denominator). Enjoy as Roger walks through what belongs in the numerator of the accounts receivable turnover ratio, and relates receivables valuation and A/R aging schedules to turnover ratio. In his next lesson about inventory turnover, which has average inventory in the denominator and cost of goods sold in the numerator, Roger provides an example for understanding how this ratio could be used in financial statement analysis. You’ll also enjoy more financial ratios such as working capital, which is current assets minus current liabilities and is a measure of solvency. Connect with us: Website: https://www.rogercpareview.com Blog: https://www.rogercpareview.com/blog Facebook: https://www.facebook.com/RogerCPAReview Twitter: https://twitter.com/rogercpareview LinkedIn: https://www.linkedin.com/company/roger-cpa-review Are you accounting faculty looking for FREE CPA Exam resources in the classroom? Visit our Professor Resource Center: https://www.rogercpareview.com/professor-resource-center/ Video Transcript Sneak Peek: Okay, now what are some of the ratios that we're going to be concerned with? And there are a variety of ratios that we look at. Some of the ratios that you'll see. There's the current ratio, quick ratio, inventory turnover ratio, receivable turnover, debt to equity ratio and so on. So some of the ratios of concern for us. Current ratio. Current ratio is current assets over current liabilities. It tells us how solvent the company is. If you've got four to one, that's good. If you've got one to four, that ain't so good. Then we've got what we call the quick or the acid test ratio and that's going to be these assets that are quickly convertible to cash. Of your current assets, which are quickly convertible? How about cash? How about marketable securities because a marketable security has a market. I own 100 shares of Apple, could I sell it today? Sure. How about accounts receivable, net AR? Well receivables, would someone buy your receivables? Could you factor, pledge, discount receivables? Yes you could, so they have a value. Divided by current liabilities. So what's missing from here to here? Here, this includes inventory. With inventory, can you quickly convert inventory? No, because you may have inventory that obsolete. You may have inventory that's overvalued. It's not lower of cost or market and so on. So therefore, that's not part of the quick or acid test. We have what we call accounts receivable turnover ratio. What is turnover? Whenever you see the word turnover, take the name and turn it over. So it's going to be something over average AR. Hmm, okay, and now accounts receivable comes out of what? Sales but what kind of sales? Total sales? No, because a total sale-- If somebody pays you cash what's the probability of collecting it? 100 percent as long as it's not counterfeit fake money. So it's going to be net credit sales. So credit sales over average AR, that's going to give you some kind of ratio, let's say 6.0. What does 6.0 mean? It means that your receivables turnover six times a year or every two months. That tell you valuation that maybe your receivables are so old that they're not going to be collectible. So if you're going to buy-- Let's say you want to buy my company and I go hey, I've got accounts receivable of one million dollars, I'll sell them to you for one million dollars. You're going to say, wait a sec, how much are they really worth? That's where you have to go out and you've got to figure out how often do they turnover.
Views: 16035 Roger CPA Review
B - Net Present Value   Moving Money Through Time
 
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Presented by AEE, instructed by Dr. Eric Woodroof, view short video to how to calculate the value of estimated savings gained from a project to current cash value. NOTE: Videos are for information purposes only, not eligible for CEU, PDH or Re-Certification credits.
Views: 1211 aee
EU-funded investments in airports provide poor value for money
 
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http://www.eca.europa.eu/en/Pages/NewsItem.aspx?nid=5505 A report published today by the European Court of Auditors (ECA) reveals that EU-funded investments in airports have not generated the expected results and have produced poor value for money. Due to a lack of adequate planning and forecasting, say EU auditors, some of the funded airports were situated too close to one another, while some of the construction projects were too big for the numbers of planes and passengers involved. Find more information on the European Court of Auditors website: http://www.eca.europa.eu/en/Pages/NewsItem.aspx?nid=5505
VALUE FOR MONEY AUDIT (Akuntansi Sektor Publik)
 
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video pembelajalan akuntansi sektor publik-- FKIP Ekonomi Unila kelas Akuntansi Semester 4- semoga bermanfaat :)
Views: 46 yayu ys
The value of ERM and Internal Control together
 
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Learn more at PwC.com - http://pwc.to/2eMJfG7 In the fifth video of this series, PwC's Dennis Chesley, Frank Martens and Jason Pett discuss why it's paramount that organisations marry both ERM and internal control to be in a better position to identify and respond to the most critical risks associated with their strategy.
Views: 3070 PwC US
Value of Audit Roundtable in Toronto: The role of capital markets
 
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Participants provide perspectives on the role of capital markets during the Value of Audit Roundtable in Toronto.
Views: 370 KPMG
National Audit Office Annual Report 2012
 
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The NAO Annual Report highlights that, during 2011-12, we met all our targets. The NAO saved public money through the delivery of £1.1 billion in financial impacts while continuing to deliver in our core areas of expertise, auditing 458 accounts and publishing 60 value for money reports during the year.
Views: 1766 National Audit Office
Communication Audit-Value of Membership
 
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NSPRA membership benefits
Views: 482 NationalSchoolPR
Level crossing removal program poor value for money: Auditor-General Andrew Greaves
 
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Level crossing removal program poor value for money: Auditor-General Andrew Greaves Level crossing removal program poor value for money: Auditor-General Andrew Greaves Level crossing removal program poor value for money: Auditor-General Andrew Greaves Subscribe my channel: https://www.youtube.com/channel/UCX-tJ-7Y5xybTyNx5-lA1GA?sub_confirmation=1
Views: 2 Martin P. Jones
Value for money analysis in Water, Sanitation and Hygiene (WASH) programming
 
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Value for money (VFM) analysis can be an important tool for programme performance management in the water, sanitation and hygiene (WASH) sector. It can be used across the project cycle – from planning and design through implementation, monitoring and evaluation. It’s often overlooked by project managers, however – or seen as an onerous box-ticking exercise. Drawing on research from a number of DFID-funded WASH programmes in sub-Saharan Africa and South Asia, this film helps bust some common myths surrounding VfM analysis while highlighting its applicability in a range of contexts. For more information, a guidance note on how to do VFM analysis for WASH programmes, and a synthesis report of the studies, visit: www.vfm-wash.org
Rolling out Universal Credit – NAO report
 
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Joshua Reddaway, Director, Work and Pensions Value for Money at the National Audit Office, examines whether the Department for Work and Pensions is on course to achieve the aims of Universal Credit. Read the full report here: http://ow.ly/ki1X30kvKup
Level crossing removal program poor value for money: Auditor-General Andrew Greaves
 
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Level crossing removal program poor value for money: Auditor-General Andrew Greaves Level crossing removal program poor value for money: Auditor-General Andrew Greaves Level crossing removal program poor value for money: Auditor-General Andrew Greaves Subscribe my channel: https://www.youtube.com/channel/UCX-tJ-7Y5xybTyNx5-lA1GA?sub_confirmation=1
Views: 0 Martin P. Jones
How to Perform a Home Energy Audit - This Old House
 
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Host Keven O’Connor assists in performing a whole-house energy audit. (See below for a shopping list and tools.) Click here to SUBSCRIBE to the official This Old House YouTube channel: http://www.youtube.com/subscription_center?add_user=thisoldhouse How to Install a Solar-Powered Water Heater: https://www.youtube.com/watch?v=Hr9G9OACxxY&index=147&list=PLkJADc1qDrr_0NxtmzECiOWkr5de82kXV How to Choose a Thermostat or Home Automation System: https://www.youtube.com/watch?v=5ew_iPwJRB0&index=149&list=PLkJADc1qDrr_0NxtmzECiOWkr5de82kXV How to Install Solar Panels: https://www.youtube.com/watch?v=subiaaXBoDI&index=156&list=PLkJADc1qDrr_0NxtmzECiOWkr5de82kXV Shopping List for How to Perform a Home Energy Audit: - Dust mask and work gloves, used when working with fiberglass insulation - Fiberglass insulation, for plugging holes and gaps in attic floor - Expanding foam insulation, for sealing over plugged holes and gaps in attic floor - Corrugated cardboard, for making baffles that fit between the rafters Tools for How to Perform a Home Energy Audit: - Infrared monitor camera, used to detect hot and cold areas around the house - Utility knife, used to slice fiberglass insulation and cardboard baffles to size - Staple gun with 1/2-inch staples, used to fasten cardboard baffles to the rafters Follow This Old House: Facebook: https://www.facebook.com/ThisOldHouse Twitter: https://twitter.com/thisoldhouse Pinterest: http://www.pinterest.com/thisoldhouse/ G+: https://plus.google.com/+thisoldhouse/posts Instagram: http://instagram.com/thisoldhouse Tumblr: http://thisoldhouse.tumblr.com/
Views: 29715 This Old House
Open and objective dialogue with the auditor
 
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ICGN Kuala Lumpur conference on 12 July 2017. Value of Audit. Visit kpmg.com/ValueofAudit to learn more. Leslie Eu, Audit Committee Chair, YTL Corporation Berhad; Datuk Dr. Syed Muhamad Syed Abdul Kadir, Audit Committee Chair, Malakoff Corporation Berhad; Mun Kong Foong, Head of Audit, KPMG in Malaysia; Mark Vaessen. Partner, KPMG in the Netherlands and Project Lead, Value of Audit.
Views: 149 KPMG
VALUE FOR MONEY AUDIT (Akuntansi Sektor Publik)
 
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video pembelajalan akuntansi sektor publik--FKIP Ekonomi Unila 2017-Kelas Akuntansi Semester 4-- SEMOGA BERMANFAAT ! ^^
Views: 19 yayu ys
European Court of Auditors - Guardians of EU Finances
 
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Who checks that #EU taxpayers’ money is spent well? How do the #EUauditors help improve Europe’s financial management? Who are the EU auditors? How do the auditors make sure we get value for money from the EU? ℹ️ http://eca.europa.eu
How to maximize value for money from analyst contracts
 
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2013 webinar with Rachel Godwin (then Harnden), from Progress Software, Duncan Chapple and Bram Weerts from Kea Company. We recommend six steps for firms wanting to get more value from analysts, but there's one over-arching observation: it's a win-win activity. We've found that account executives at analyst firms are generally willing partners in helping clients to get the best value. Of course they want to maximise contract value, but they know that the wrong portfolio of services won't be highly valued. With very few exceptions, you can expect salespeople at analyst firms to be serious partners. Here's how to do it. 1. Audit. Large organizations sometimes lose sight of what is being spent with analyst firms outside of what goes through the primary contract. Identifying this current spend and adding it to total spend, strengthens your position. Having all the data in hand before the contracts are presented puts one in a position of strength. 2. Benefits. Analyst firms should give valuable insight into market changes and developments, future trends, technology insights, what others are doing, and what customers want. The analysts can be an information bridge between vendor and clients. By measuring the benefits of subscriptions, you can establish value for money. 3. Goals. Clients need to establish which firms best allow it to meet business goals. That means understanding who the priority users are, what parts of the value proposition are primary, and what users of analysts services find each firm's strengths and weaknesses to be. 4. Options. Any choice is only as good as its best available alternative. So identify alternative sources of research and inquiry access. There may be some areas of duplication between the analyst firms, and there might be some opportunity to better align analyst access internally. Identify the best alternative provider for every service, so you're not dependent on any one firm. 5. Portfolio design. Analyst firms employ some habitual tricks to get more power, including offering benefits which are either not essential to client success, or presenting established levels of service or access, which are not explicitly placed in the contract, as a special favour. To get around that, identify a portfolio of alternative firms that offer the best value for the analyst services that are critical for success. Consider taking a quarter off from your most long-standing contract, just to ensure you're not dependent on a provider. 6. Negotiate. Work to bring the best value services, shown in the benefits analysis, into the bottom line of the contract negotiation. Review contracts to ensure that the terms include what users need. Negotiate the contracts extensively in advance. Everything depends on those how well the analyst firm understands the client's initial needs, and how proactive it is in making that happen. The rest is mechanics and either account teams deliver or not. If they don't, they don't deserve your business.
Views: 285 Duncan Chapple
Tampa Electric’s free Energy Audit will help you save energy and money
 
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In this :30 radio spot, learn how Tampa Electric’s energy experts can help you save energy and money with a free Energy Audit.
Views: 252 TECOEnergyInc
Time Value of Money
 
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Here's Prof. Manoj Datwani explaining time Value of Money. Topics covered include: 1. Value of Money 2. Present Value 3. Future Value 4. Relationship between Present Value and Future Value [PV & FV] 5. Discounting Factor 6. Annuity 7. Perpetuity 8. Sinking Fund For any query or help, please reach out to us on 9029083303 To know more about us, visit www.qli.co.in
Ron Paul: Gold is Money! The Dollar's Value is Destined to Go Down
 
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08/18/2010 - http://www.RonPaul.com - http://radio.goldseek.com/ Ron Paul talks to Chris Waltzek on GoldSeek Radio. Topics of discussion include the Financial Reform Bill, competing currencies, the gold price, and 2012. -- Ron Paul is America's leading voice for limited, constitutional government, low taxes, free markets, and a return to sound monetary policies. For more information visit the following sites: http://www.RonPaul.com http://www.RonPaulNews.com http://www.CampaignForLiberty.com http://www.house.gov/paul http://www.DailyPaul.com http://www.RonPaulForums.com
Views: 13934 RonPaul2008dotcom
Ron Paul: Audit the Gold!
 
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08/26/2010 - http://www.RonPaul.com Ron Paul explains why we should audit the gold held by the federal government to find out if it's still there. -- Ron Paul is America's leading voice for limited, constitutional government, low taxes, free markets, a return to sound monetary policies, and a foreign policy that puts America first. For more information visit the following sites: http://www.RonPaul.com http://www.RonPaulNews.com http://www.CampaignForLiberty.com http://www.house.gov/paul http://www.DailyPaul.com http://www.RonPaulForums.com
Views: 28603 RonPaul2008dotcom
Putting Money Value in Your Service Business (Accounting and Bookkeeping)
 
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Knowing the value of your business is vital should an unexpected buyer come along and the timing is right for you to sell. You'll want to get the best price you can so make sure you have an accurate idea of your business's worth.Procedure for Distraint and Garnishment. - The officer serving the warrant of distraint shall make or cause to be made an account of the goods, chattels, effects or other personal property distrained, a copy of which, signed by himself, shall be left either with the owner or person from whose possession such goods, chattels, ... In both cases, the BIR shall issue a collection letter requiring the taxpayer to pay the deficiency tax or taxes on these undisputed items. This is a process that may eventually lead to the BIR's exercise of collection enforcement measures such as the service of a warrant of distraint/garnishment.GARNISHMENT. Also known as wage execution. A court-ordered method of debt collection in which a portion of a person's salary is paid to a creditor. Often used to collect child support payments. The process by which a judgment creditor seizes money, which is owed to his judgment debtor, from a third party known as a ...Whether the taxpayer agrees or refuses to pay the proposed deficiency taxes, the docket of the case will be endorsed for review to the Assessment Division of the Regional Office (in the case of findings on taxpayers registered with the BIR district offices), or to the BIR Commissioner or her duly authorized ...Ours is a self-assessment system of paying taxes, where taxpayers determine their respective tax liabilities and pay them to the tax authorities. Revenue officers, however, through proper authorization, may conduct examinations after tax returns have been filed or should have been filed. The ultimate ...It has a check and balance mechanism where the tax authority (Bureau of Internal Revenue or BIR) has the right to conduct tax assessment or examination within three (3) years from required filing or from late filing (or 10 years, for fraudulent returns or if no tax return filed) to determine the extent of compliance of taxpayers.Deficiency assessment is an assessment of an additional income tax to cover a deficiency in income revealed upon an audit of the return made by the taxpayer. It is the amount that a taxpayer owes in.The SC stressed that the BIR must issue an LOA prior to issuing a Preliminary Assessment Notice (PAN), a Final/Formal Assessment Notice (FAN), or a Final Decision on Disputed Assessment (FDDA) to the taxpayer; otherwise, the assessment is rendered void for lack of due process.Assessment based only on Letter Notice is void. Due to technological advances, taxpayers can actually find themselves under the scrutiny by the Bureau of Internal Revenue (BIR), even though no detailed examination of the books and records is conducted. This is possible through the BIR's Reconciliation of Listing for.The Notice of Assessment shall inform the Taxpayer of this fact, and that the report of investigation submitted by the Revenue Officer conducting the audit shall be given due course. The formal letter of demand calling for payment of the taxpayer's deficiency tax or taxes shall state the facts, the law, rules and regulations, ...
Views: 65 EmelinoTMaestro
Fraud Auditing - Prof. Helen Brown
 
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Lecture 11: Fraud Auditing By Professor Helen Brown This lecture focuses on fraud. Fraud is defined (in this lecture) as any intentional act or omission designed to deceive others, resulting in the victim suffering a loss and/or the perpetrator achieving a gain. After going over possible incentives for partaking in fraud, the Professor goes over characteristics of fraudsters. Most workplace fraudsters are first-time offenders. Also, the size of the loss incurred by the firm is usually directly related to the position of the perpetrator - for example, a low ranking, standard employee leads to a smaller loss than if somebody like a CEO committed fraud, which would most likely lead to a very big loss. Many statistics regarding fraud are shown and discussed. For example, 67% of perpetrators are male while the remaining 33% are female. The median loss caused by males is approximately $232,000 while the median loss caused by female is approximately $100,000. The median age seems to range between 36 and 45 (middle age). Following the discussion of statistics regarding fraud, the Professor moves on to discuss the concept of fraud in greater detail. There are three general categories of fraud. Management fraud, for example, can include fraudulent financial reporting, which is essentially high ranking employees (managers) take unethical actions (i.e. alter financial statements) to meet earnings objectives. Misappropriation of assets involves theft of an entity's assets. Corruption is defined as any scheme in which an individual uses his or her influence in a business transaction to obtain an unauthorized benefit contrary to that person's duty to his or her employer. Out of the three, asset misappropriation is by far the "most popular." However, it also causes the least median loss compared to corruption ($250,000) and financial statement fraud ($4.1M). A chart is also shown detailing the different types of fraud. Following a lengthy class exercise, items that could entice an individual to partake in fraud are further discussed. Extrinsic motives include unrealistic performance and profit expectations, excessive financial pressures, complexity of industry, and instability of financial climate. Intrinsic motives include status gaining mentality, personal failures and / or addictions, perceived lack of appreciation / value, and cognitive dissonance. Personal deviance includes addictions, vices, and negative habits as well as unusual interaction and communication style. Non-conforming aesthetics and low morale and poor attitude are also listed as personal deviants. Professional deviants include unusual work schedule, misuse of company perquisites, inadequate productivity, and unreliability. Regarding how to assess the risk of fraud, auditing standards emphasize consideration of a client's susceptibility to fraud regardless of the auditor's beliefs about the likelihood of fraud and management's honesty and integrity. SAS 1 states that when exercising professional skepticism, an auditor neither assumes that management is dishonest nor assumes unquestioned honesty (in other words, to be as close to neutral as possible). SAS 99 provides guidance to auditors in assessing the risk of fraud. Next, the Professor goes over sources of information gathered to assess fraud risks. Communication among the audit team, inquiries of management, risk factors, and analytical procedures are all sources through which information can be gathered to assess the risk of fraud. Fraud assessments must be documented and reported (including the discussion, procedures, specific risks, reasons, other conditions, results, and the nature of the communications with management and audit committee). Responding to the risk of fraud is also covered. If fraud is discovered, the overall conduct of the audit must be changed to respond to identified fraud risks (such as assigning more experienced personnel to the audit or even a fraud specialist). Audit procedures must be designed and performed to address risks that have already been identified (in other words, tailor your system so that any fraud that has already occurred cannot happen again). The appropriate audit procedures necessary to address specific fraud risks depends on the account being audited and the type of fraud risk identified. Fraud: What, why and Who? 4:20 Characteristics of Fraudsters 5:20 Gender of Perpetrator 6:53 Age of Perpetrator 10:43 Employment Tenure 12:35 Position of the Perpetrator 13:40 Fraud 14:40 Types of Fraud 17:26 Burden of Proof 20:32 Class Exercise to recognize fraud (easy to do along with the class) 20:35 - 1:14:20 Motive 1:14:20 Autonomy 1:14:58 Deviance 1:15:56 The fraud triangle 1:16:49 Assessing the Risk of Fraud 1:19:26 SAS 99 - 1:20:30 Sources of Information Gathered to asses fraud risks 1:21:43 Documenting Fraud Assessment 1:22:18 Responding to the Risk of Fraud 1:22:49 Specific Fraud Risk Areas 1:23:53 Trust but Verify 1:24:32
Insights from reports tabled January to March 2018
 
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This edition of audit insights draws together key learnings from Australian National Audit Office (ANAO) reports tabled in the Parliament of Australia from January to March 2018. It provides insights around value for money being significantly enhanced through ensuring that officials engaged in a procurement have a full understanding of what they're buying and the market.
Views: 305 ANAO Communication
Going Concern Opinion
 
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This video discusses the issuance of a going concern opinion by a company's auditor. In the course of auditing a company's financial statements, an auditor may come to have doubts about the company's ability to continue operations into the future (to continue as a "going concern"). For example, the auditor may believe the company being audited is about to go bankrupt. In such a case, the auditor may still issue an unqualified audit opinion (a "clean opinion") if the financial statements are presented fairly, but it will include an additional explanatory paragraphy in its audit opinion where it expresses doubt about the company's ability to continue as a going concern. The video provides an excerpt from an actual audit opinion that was issued by Deloitte & Touche in March of 2009 after it audited General Motors' financial statements. Edspira is your source for business and financial education. To view the entire video library for free, visit http://www.Edspira.com To like Edspira on Facebook, visit https://www.facebook.com/Edspira To sign up for the newsletter, visit http://Edspira.com/register-for-newsletter Edspira is the creation of Michael McLaughlin, who went from teenage homelessness to a PhD. The goal of Michael's life is to increase access to education so all people can achieve their dreams. To learn more about Michael's story, visit http://www.MichaelMcLaughlin.com To follow Michael on Twitter, visit https://twitter.com/Prof_McLaughlin To follow Michael on Facebook, visit https://www.facebook.com/Prof.Michael.McLaughlin
Views: 2913 Edspira
Century of Enslavement: The History of The Federal Reserve
 
01:30:12
TRANSCRIPT AND RESOURCES: http://www.corbettreport.com/federalreserve What is the Federal Reserve system? How did it come into existence? Is it part of the federal government? How does it create money? Why is the public kept in the dark about these important matters? In this feature-length documentary film, The Corbett Report explores these important question and pulls back the curtain on America's central bank.
Views: 1693028 corbettreport
Financial Management - Lecture 02
 
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Financial accounting, financial reports, financial statements, annual report, verbal section, verbal report, audit, balance sheet, financial position, assets, liabilities, income statement, profit/loss statement, income, profit, earnings, net income, net loss, bottom line, revenues, expense, statement of cash flow, cash inflow, cash outflow, statement of retained earnings, statement of stockholder equity, to finance, financing, funding, source of funds, external financing, internal financing, stockholder equity, equity, capital, financial forecasting, financial decisions, managerial accounting, current assets, short-term, assets, liquidity, long-term assets, fixed assets, property, plant, equipment, PPE, land, tangible, intangible, paid-in capital, contributed capital, retained earnings,
Views: 134311 Krassimir Petrov
Alexis Kimbrough: Making Money as a Musician, Knowing Your Value & Growth Group | INTERVIEWS (2017)
 
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Subscribe to our YouTube channel: http://bit.ly/2xiUrpU Become a Patron of the show: http://bit.ly/1N0ySGA Follow Marcio: http://bit.ly/2eZMyuy | Follow Ross: http://bit.ly/2eZLZk4 Follow us! Twitter: http://twitter.com/bridge_atlantic iTunes: http://bridge-the-atlantic.com/itunes Patreon: http://patreon.com/bridgetheatlantic For more episodes, visit http://bridge-the-atlantic.com Follow us on Twitter: http://twitter.com/bridge_atlantic Subscribe on iTunes: http://bridge-the-atlantic.com/itunes Support us on Patreon: http://patreon.com/bridgetheatlantic --- Our guest today is Alexis Kimbrough out of Atlanta, Georgia. Alexis is the founder of Growth Group - an accounting firm focusing on musicians and creative businesses. With Growth Group, Alexis helps musicians manage their taxes, plan for recording and touring, and more. Alexis has dedicated her accounting career to helping music creators make a prosperous living by loving their craft, and in this interview we hear the most common problems musicians have around money, when musicians should start working with an accountant, and more. Highlights: - “Growth Group is my giveback to a music community that gave to me” - Alexis Kimbrough - Alexis shares one of the biggest fears artists have around making money - “In addition to the creation, you have to be willing to market yourself” - Alexis Kimbrough - Alexis shares that too many musicians devalue their work because they’re worried about being seen as a sellout - “As musicians you change people’s hearts - and that is valuable” - Alexis Kimbrough - Alexis shares that musicians bring a valuable service to the world and they should be compensated - “What you offer to the world is valuable and there should be no shame in making money from it” - Alexis Kimbrough - “Selling out is not making money - it’s doing something that isn’t true to you” - Marcio Novelli - Alexis shares some of the most common problems musicians have around money - We hear from Alexis how artists can start saving and managing their money successfully - Alexis shares that small changes in habits can make a big difference over time to saving money - “Once you’ve monetized your music, you should start working with an accountant” - Alexis Kimbrough - An accountant can also help you to audit your time to make sure you’re making the best use of your time Advice: - When it comes to recording or touring - start with the resources you already have - An accountant should ask you about your goals, so you know whether they can help you achieve them - Make sure any accountant you are working with is certified and can legally work with you - Check if an accountant has worked with musicians before, so they have the right experience Guest Links: - Website: http://growthgroup.com - Facebook: /growthgroup - Twitter: @growthgroup - Instagram: @growthgroup Sponsors: - Chris Keaton @ Chris Keaton Presents - Christine Infanger @ Thirty Roses - Music Entrepreneur HQ - Music Launch Hub - Buck Naked Soap Company
Views: 1276 Bridge The Atlantic
How To Build A Brand | Brand Audit Kezia Luckett | Small Business Marketing
 
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http://www.howtobuildabrand.org | To book your brand audit with Sammy Blindell, email [email protected] No matter what stage you are at on your business growth journey, this 1 Hour Intensive Brand Audit with Sammy Blindell is a power-packed session that will give you the next best strategic steps to move your business forward in the right way first time. Listen to this video to find out what Kezia Luckett got from going through the Brand Audit process and here's what Maaike Frankena also said about her recent Brand Audit with Sammy: "The Brand Audit coaching session with Sammy was terrific! It brought us so much clarity on our values and how to organise our marketing strategy to target different key decision makers to get to our ideal customers. By the end of the call we also knew our exact brand colours and we covered so much during this session that really helped us to get clarity on our next steps. This was such a big bump for us and now we know we are going to fly! It was really good for both of us Directors to be on the call at the same time with Sammy and especially good for our business. If you have any doubts about your strategy, don’t think it will pass. I’ve tried for 4 years to ignore the signs and it doesn’t work. I kept just bumping into the same problems again and again, which wasted an awful lot of time as a result. This audit was incredible value for money and we were able to move forward straight away to start implementing what Sammy did with us during the session. Seriously, don’t wait. Contact Sammy now and get your Audit call booked in. Yes you have to pay for it, but you’ll get LOADS more back from it!" This audit really is a great step for you at EVERY STAGE of your business, as it has helped thousands of other business owners, just like you, to boost brand awareness, enhance credibility, reduce wasted time on marketing that won't work for you specifically and increase cash flow. What is the brand audit process? Before your call with Sammy on Zoom (an online video conferencing tool that you will be given a special link to join), Sammy will spend 30 minutes going through all the answers you give her to the pre-audit questionnaire and values activity that you'll receive beforehand. Then during your session together, Sammy will give you advice and cover any points you bring to the meeting, as well as: - Your brand values - Your company colours - A colour guidelines sheet, showing your exact Pantone colour references - Suggestions for your logo (whether you have one or you are starting from scratch) - Suggestions for your website (whether you have one or you are starting from scratch) - Clarity on your ideal target market - A clear vision of how to target your ideal customers - An immediate strategy with marketing ideas to kickstart your campaign - Introductions to any connections we have that will help you to move forward - A recording of your session, so you can review it at any time This full Brand Audit service is just £297 + vat - a fraction of what you will make back when you implement the advice and training Sammy gives you during the call. As soon as your payment has been made, your Brand Audit will be booked into Sammy's diary. Email Sammy now to get started: [email protected] Subscribe to this channel to make sure you don't miss out on any of the how to strategies Sammy shares regularly and comment below to let us know what other videos you want us to create for you.