Bridgford Foods Essay Example for Free

Bridgford Foods Essay Bridgford Foods is known as a small, publicly traded company of the food industry. Clients of Bridgford Foods have a relatively high inherent risk. The operation of the said industry is subject to various risks, such as adverse changes in the general economic conditions, the evolution of consumer preferences, nutritional and health-related concerns, the inspections done, including the processing controls involved in the federal, state, and local products. The liability claims of consumer products and the risks associated with product tampering were also taken into careful consideration. Furthermore, several recalls made were associated with the recent outbreaks of illnesses among the meat and poultry products. Such greatly affected the operating results and the financial position of the company. In addition to this, industry characteristics were related to the factors that affected the assessment of materials of Bridgford Foods Corporation. Since the industry was very competitive, price cutting would have its related effects on the revenue. Unfortunately, Bridgford Foods was not part of the leading industries in the country. In terms of performance, the products of the said company were not as competitive as those of the leaders in the industry. In addition to this, the company is not as profitable and as financially stable as those of the major companies in the industry. For the year 2007, Bridgford Food had a decrease in its total sales, as compared to the other years. In a report issued, the company stated that, â€Å"sales for the first quarter ended in January 25, 2008, and was an estimated $1,319,000. Prior to the first twelve weeks of the fiscal year, there was a decrease in the total, which was 3.1%. The industry factors result in an increased assessment of the risk material misstatement of BridgFord Foods Corporation. This led to a lower determination of detection risk and more substantive tests. Estimations and assumptions were particularly important in the assessment of risks for material misstatement of Johnson, Inc. The management made certain estimations and assumptions that affected the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements. In addition to this, reported revenues and expenses during the respective reporting periods were also given much considerations. The amounts estimated related to liabilities for workers’ compensation, employee healthcare and pension benefits are especially subjected. The inherent risk relating to the accuracy of an account balance that involves a high degree of management judgment, or that is difficult to compute, is evaluated as high. Moreover, the credit risk of the company was diversified across a broad range clients and geographic regions. Losses incurred due to credit risks have recently been immaterial, with the client maintaining the cash balances at financial institutions. At times, these clients exceed the amounts insured by the Federal Deposit Insurance Corporation of $100 million per institution. However, the clients have significant amounts receivable amounts with few of the well known clients, although historically secure, could also be subject to material risk when the operations of these clients begin to deteriorate. Regardless of such dilemma, the members of the Bridgford family can still exercise significant control over the company. This is due to the fact that the family owns approximately 77% in stocks of the company, making them own more than three fourths of the whole company. On top of this, three members of the Bridgford family were members of the Board of Directors. This gives the members of the Bridgford family the ability to exert substantial influence and power over the management and affairs of the company. This include matters requiring the action of shareholders. the amendment to by-laws, the election and removal of directors, merger proposals, consolidation or sale of all or substantially all of the assets and other corporate transactions. The Bridgford family members who own majority of the stocks dominate in the decision making of the company. This factor led to a higher risk assessment of material misstatement fore there were no reviews regarding important decisions and actions taken. However, these should be taken in the best interest of the company and its stockholders. The inherent limitations included the realities of faulty judgments and decision makings, including the breakdowns that can occur due to simple errors and mistakes. Additionally, controls can be circumvented by the individual acts of some people, by collusion of two or more people, or by management override of the control. All the above factors increased inherent risk for a particular account balance assertion, making the evaluation relatively high. In the audit planning stage, where the evaluation of inherent risk for an account balance assertion is high, auditors regard this as a significant risk requiring special audit attention. The control risk of Bridgford foods is low. The client maintains and evaluates a system of internal accounting controls, and a program of internal auditing designed to provide reasonable assurance. In so doing, the company’s assets are protected and transactions were performed in accordance with the proper authorization, and were recorded accordingly. This system of internal accounting control is continually reviewed and modified in response to evolving business conditions and operations and to recommendations made by the independent registered public accounting firm and internal auditor. The client also has an established a code of conduct. Furthermore, the audit committee is composed of independent directors who are not officers or employees of the client, and do not have other relationships that impair independence. The audit committees also employ two financial experts. They are effective in overseeing the quality of controls and the management of fraud. From those mentioned, I believe that the accounting and internal control systems provide reasonable assurance that assets are safeguarded and financial information is reliable, with the overall control risk low. In general, the design and implementation of internal control are considered effective. The increase in the risk of material misstatement due to these factors will result in a lower determination of detection risk and an increase in the scope of the auditors work. Pre-audit engagement risk is significantly and positively associated with the estimated level of discretionary accruals reported in audited financial statements. As higher levels of discretionary accruals have been shown to be associated with higher risk of post-audit litigation, it appears that rather than taking actions that result in higher-risk clients reporting less aggressive discretionary accruals, auditors instead are accepting a higher post-audit risk for these clients.

Light and Dark Imagery in Joseph Conrads Heart of Darkness Essay examp

Light and Dark Imagery in Joseph Conrad's Heart of Darkness   Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚  Heart of Darkness by Joseph Conrad is a novel about a man named Marlow and his journey into the depths of the African Congo. Marlow is in search of a man named Kurtz, an ivory trader. Though Marlow?s physical journey seems rather simple, it takes him further into his own heart and soul than into the Congo. The setting, symbols and characters each contain light and dark images, these images shape the central theme of the novel.   Ã‚  Ã‚  Ã‚  Ã‚  Conrad uses light and dark imagery to help create the setting for the story; light represents civilization while darkness suggests the uncivilized. The novel opens on the deck of a boat called the Nellie, as we are introduced to the passengers we are told how the sun is slowly fading, and soon darkness will engulf the area. This image is Conrad?s first use of light and darkness; he uses it to foreshadow the ultimate darkness Marlow will face. Conrad is warning his readers to be careful, lest they let down their guard and allow the darkness to come them. The other character in the book, Kurtz, is taken over by the evil embodied in the darkness. During Kurtz?s journey into the heart of darkness the isolation, darkness and power all made him lose control of himself and allowed the darkness to take over.   Ã‚  Ã‚  Ã‚  Ã‚  Every aspect in Conrad?s book has a deep meaning, which can then be linked to the light and dark imagery. In the novel there are two rivers, the Thames and the Congo. The...

How much aggressive behaviour is shown on television? Essay

The average American child sees 32,000 murders, 40,000 attempted murders, and 25,000 acts of violence on television before the age of 18 (Ahmed, 1998). Gerbner’s studies of violence on American television (Gerbner, 1972; Gerbner & Gross, 1976; Gerbner et al. , 1980, 1986) Defining violence as: ‘†¦ the overt expression of physical force against others or self, or the compelling of an action against one’s will on pain of being hurt or killed’, Gerbner’s team have found that since 1967 the percentage of television shows containing violent episodes has remained about the same, but the number of violent episodes per show has gradually increased. In 1986, there was an average of around five violent acts per hour on prime-time television. On children’s weekend shows, mostly consisting of cartoons, about 20 violent acts per hour occurred. British research by Halloran & Croll (1972) and the BBC’s Audience Research Department were both based around Gerbner’s analysis. Both studies found that violence was a common feature of programming, although it was not as prevalent on British as on American television. Cumberbatch (1987), commissioned by the BBC, analysed all programmes broadcast on the (then) four terrestrial channels in four separate weeks between May and September 1986. The main findings from Cumberbatch’s (1987) study: Cumberbatch found that 30% of programmes contained some violence, the overall frequency being 1. 14 violent acts per programme and 1. 68 violent acts per hour. Each act lasted around 25 seconds, so violence occupied just over 1% of total television time. These figures were lower if boxing and wrestling were excluded, but higher (at 1. 96 violent acts per hour) if verbal threats were included. Death resulted from violent acts in 26% of cases, but in 61% of acts no injuries were shown, and the victim was portrayed as being in pain or stunned. In 83% of cases, no blood was shown as a result of a violent act, and considerable blood and gore occurred in only 0. 2% of cases. Perpetrators of violent acts were much more likely to be portrayed as ‘baddies’ than ‘goodies’, and violence occurred twice as frequently in law-breaking than in law-upholding contexts. Cumberbatch argued that whilst violence, and concerns about it, had increased in society in the decade up to 1987, this was not reflected by a proportional increase on television, even in news broadcasts. He concluded that: ‘While broadcasters may take some comfort from our data on trends in television violence, they must expect to be continually reminded of their responsibilities in this area and be obliged to acknowledge that a significant minority of people will remain concerned about what’s on the box’. More recently, the BBC and ITV commissioned Gunter & Harrison (1998) to look at the frequency of violence on terrestrial and satellite channels. Some findings from Gunter & Harrison’s (1998) analysis of violence on British television: The researchers monitored 2084 programmes on eight channels over four weeks in October 1994 and January/February 1995. The findings include: On BBC 1 and 2, ITV and Channel 4, 28% of programmes contained violent acts, compared with 52% on Sky One, UK Gold, SKY Movies and the Movie Channel.   Violence occupied 0. 61% of time on the terrestrial channels and 1. 53% on the satellite stations.   The greatest proportions of violent acts (70%) occurred in dramas and films; 19% occurred in children’s programmes. Most violent acts occurred in contemporary settings in inner-city locations. The majority of perpetrators were young, white males. One per cent of programmes contained 19% of all violent acts. Double Impact, shown on the Movie Channel, for example, contained 105 violent acts, as against on average 9. 7. The United States was the most common location for violence (47%), followed by the United Kingdom (12%). The third most likely location was a cartoon setting (7%), and then science fiction locations (4%). On the basis of the finding that violent acts account for 1% of programme content on terrestrial channels and less than 2% on some satellite stations, and the fact that 1% of programmes contained 19% of all violent acts, Gunter and Harrison concluded that: ‘The picture that emerges is not one of a television system permeated by violence, but rather one in which violence represents only a tiny part of the output and where it tends to be concentrated principally in a relatively small number of programmes’ (cited in Frean, 1995). An almost identical conclusion was reached by the American Academy of Paediatrics (Murray & Whitworth, 1999). As well as television, violent behaviour can also be seen at the cinema or on video (and what is shown may or may not be subsequently screened on television). Evidence indicates that a large percentage of 9-11 year olds have watched 18-rated videos, including particularly violent Nightmare on Elm Street, The silence of the lambs, and Pulp Fiction (Ball & Nuki, 1996; Wark & Ball, 1996). The effects of television on Children’s behaviour: Research into the effects of television on Children’s behaviour began in America in the 1960’s, following the publication of the results of Bandura et al’s ‘Bobo doll experiments’. These ‘first generation’ (or ‘Phase one’: Baron, 1977) studies involved filmed or symbolic) models. Essentially, Bandura et al. showed that children can acquire new aggressive responses not previously in their behavioural repertoire merely through exposure to a filmed or televised model. If children could learn new ways of harming others through such experiences, then the implication was that media portrayals of violence might be contributing to increased levels of violence in society (Baron, 1977). However, Bandura (1965) warned against such an interpretation in the light of his new findings that the learning of aggressive responses does not necessarily mean that they will be displayed in a child’s behaviour. Nevertheless, the possibility that such effects could occur was sufficient to focus considerable public attention on Bandura et al. ‘s research.

Persuasive Speech Basketball Coaching - 1238 Words

Basketball Coaching Emmanuel Spruill Mrs. Wright English III 20 March 2015 Emmanuel Spruill Mrs. Wright English III 20 March 2015 Basketball Coaching Dean Smith, Phil Jackson, James Naismith. What do these men have in common? They are successful basketball coaches. Play calling and smart strategies are a two things a successful basketball coach needs. It takes hard work and dedication to become a successful basketball coach. Coaches are suppose to teach beginners and professional athletes the skills they need to succeed at that particular sport. Coaches mostly teach elementary, middle, high school, or higher like the college level or the pros. Some coaches might not teach at those levels but they will tend to teach for recreation leagues. They have training and practices to help and improve the athletes’ form, technique, skills, etc. Along with helping the athletes individual skills, coaches are responsible for implanting into the players the importance of good competitive spirit, good sportsmanship on and off the court, and also teamwork. Coaches tend to evaluate their opponents so they can determine game strategies so they can put their team in the best position to win and establish certain plays to practice. During competition, either the coach or the point guard, usually tend to call out specific plays to score most of the time but they can also call out a play to slow the game down if it clo se. 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