Wednesday, February 19, 2020

Materiality in Auditing Essay Example | Topics and Well Written Essays - 1500 words

Materiality in Auditing - Essay Example Auditing process, as a mechanism of professional reasoning, can be applied in any domain with its objective to identify discrepancies and likewise, report the same to the controlling authorities. It is through this mechanism that may promote corrective measures that are deemed necessary for assuring transparency in the framework. Theoretically explaining, the conceptual understanding of materiality depends largely on the conditions that facilitate accuracy as well as transparency in the financial report presentation. It is thus essential for the auditor to consider possibilities of erroneous financial reporting with the inclusion of a few relatively smaller values that could impose significant effects to the viability of the financial report. Materiality is also regarded as a point of limit and the information should be qualitative to ensure its complete usefulness. Contextually, it should be mentioned that materiality indicates the value considerations emphasized when presenting aud it report, in order to determine whether errors prevail in the accounts, or whether the accounts presented to submit a true interpretation of the financial reports offered. As per Anglo-Saxon accountancy, materiality represents error level as well as helps in understanding and interpreting of financial statements, which will not be significantly affected. On the other side, admissible error level is accepted in order to decide whether accounts are correct or not. With the help of materiality, multinationals have improved its financial statements.

Tuesday, February 4, 2020

Psychological Disorder Analysis Essay Example | Topics and Well Written Essays - 1500 words

Psychological Disorder Analysis - Essay Example Case Study Reference Marla was referred to a psychological counselor as she had attempted to commit suicide 3 days back. Her mother and her younger sister, Whitney, had gone for a function where Whitney was going to be felicitated for her yearly performance. Marla was also invited by Whitney to attend the function but she refused to go saying that she was not feeling well. Marla’s mother also tried to make Marla to go with them but she refused to budge. Marla’s mother and Whitney realized that there is no point in asking her anymore so they left for the function at 5 pm in the evening. When they retuned, they found Marla lying on the sofa with a note on the side table. Marla had consumed 10 sleeping tablets and was unconscious. Emergency service was called and Marla was saved from getting harmed in any way. She was kept under observation in the hospital for two days and got a discharge on the third day. She was declared out of danger. Marla, in her suicide note, had wri tten that she is not worth living. She should die so that her mother and her sister can live a happy life. This showed that Marla was feeling mentally low and was feeling worthless. What she needed was a professional help. Her medical doctor referred her to psychological counseling. Hence, Marla was brought to me for psychological counseling to help her with her weak personality. Case History Marla is a 28 year old woman from white ethnic background. She is living with her sister and her mother in a spacious four bedroom apartment. Her mother, Dianne, got divorced from her father ten years back and is a home maker. Marla’s sister, Whitney, is younger to her by 3 years and is working in a software industry. Dianne has inherited a lot of wealth and property from her own father. He was a businessman and had a flourishing business throughout his life. He had left all his wealth and property for his daughter, Dianne. Hence, Marla never suffered from any financial crunch or problem at home. In fact, she was pampered at home and was allowed to do whatever she wanted to do. Marla tried her hand at different professions like fashion designing, real estate, hair styling etc. Although she was good at it, she never continued with those professions. The moment it seemed that she was doing good and was going to settle with the profession, she used to do something or other to destroy the chances of that profession flourishing. Marla said that she never felt ‘good’ with success. She felt that the success was not real and was going to deceive her in the future. Hence, she never felt comfortable with success and appreciation. After talking to Marla, it was revealed that the roots of her feelings lie in her childhood. It was her father who was responsible for Marla being emotionally and mentally a negative person. Childhood Marla’s father was suffering from alcoholism. He was an irresponsible person and never cared to provide any security for his famil y. He used to leave his job often and demanded money from Dianne and her father. When Marla was six, Dianne came to stay with her father. However, after being coaxed by her husband, she again went and stayed with him. During this time, Whitney was left with her grandfather as it was not possible to bring up two daughters with what Marla’s father was earning. Hence, Marla was left alone and missed having a sibling with who she can share her sorrows. Marla’s father used to scold her a lot. He was a demanding person and never appreciated anything that Marla did. He