Essays on Pfister

Reflective Journal # 2

The reflective journal highlights my learning of the group behavior and norms of behavior in organizations and importance of organizational culture in creating the value of organizations. These are key topics that we have covered in the course and are important to understand the employees behavior (Pfister, 2009). I have understood that employees behavior is directly associated with their performance. If they have positive behavior they are more likely to contribute positively to the outcome of business decisions an activities. In my view this is a valid argument because individuals behave in a particular way depending upon their behavior, ...

Chinese and Americans might be perceived as entirely different kinds of people not only in the way they look but also the different cultures they have. Despite the perception that they are different groups, they have similarities in culture, violence and gender issues as discussed below. Chinese like cooking food at home and they eat together as a family around a table. Even if they take their food in the hotel, they eat together (Riess 12). The Americans, on the other hand, it is just part of the family members who make a meal together but not the whole ...

Investigative Procedures

Internal controls are important in detecting and preventing internal and external fraud. One of the objectives of an internal control system is to ensure the company assets are safeguarded from fraud, waste or other irregularities (Pfister, 2009, p 30). Internal controls are based on the concepts of segregation of duties, authorization limits and proper records or documentation of transactions. The internal controls also ensure physical security of the company assets. The detective internal controls include reconciliation of branch accounts and independent verification of transactions (Needles & Powers, 2010, p 264). However there are inherent limitations of internal control systems. They may ...

Limitations of the internal control systems

Internal controls are the procedures that the management institutes in the company in order to ensure the operations are running smoothly. The objective of implementing an internal control system is to ensure effectiveness and efficiency in the business, enable management detect, prevent and correct irregularities and ensure the organizational assets are safeguarded from misuse or theft. The internal control system however has some limitations. They are events that occur that will prevent the system from accomplishing the mentioned objectives (Pfister, 2009). The three inherent limitations of the internal control system are: 1) Collusion One of the crucial ...