Showing papers on "Audit published in 1972"

Predicting the Near Term Profit and Loss Statement with an Econometric Model: A Feasibility Study

Abstract: Conventional financial statements present a model of key financial stocks and flows in the business firm. For all their problems, monthly and quarterly profit and loss statements remain in widespread use by management for internal control and planning, and by stockholders and lenders as a device to evaluate corporate financial performance. Accordingly, shortterm prediction of the income statement is a continuing planning requirement of corporate management. In addition, a growing interest has been recently displayed among accountants in evaluating the feasibility of including projections of financial statements as part of the annual report. These factors heighten the profession's interest in the usefulness of tools and methods for near-term financial forecasting along three dimensions: (a) to facilitate consideration of the practicability of proposals that financial projections be involved in audited statements; (b) to aid consideration by the management services function of possible client requests for externally prepared short-term income statement projections; and (c) to aid corporate accountants in evaluating available tools for short-term income statement forecasting. At the present time, near-term income statement prediction by corporations is most usually accomplished by basically qualitative methods supplemented in a growing number of cases by exponential or related data smoothing procedures. The results of this approach typically leave ample room for improvement in predictive accuracy. This study is directed at exploring the application of the tools of econometrics to predict the monthly profit and loss statement of a firm. Our

Medical audit in North America.

Abstract: Medical audit has been defined by a leading authority1 as "the evaluation of the quality of medical care as reflected in medical records." In his review of quality evaluation Donabedian2 has described three ways of assessing the quality of care : firstly, the study of the structure, setting, and organization of medical care; secondly, the study of the process of care; and, thirdly, the study of the outcome of care. Audit is used chiefly as a means of assessing process and outcome. An audit may be either internal or external. Internal audit is performed by members of the institution itself and is usually a continuing process. External audit is conducted by independent assessors and is usually episodic.

Understanding Company Financial Statements

Abstract: Companies and their reports the financial statements taxation and audit regulation, formats, accounting standards and inflation tools of analysis and sources of information profitability, return on investment and value added liquidity and cash flows sources of funds and capital structure. Appendices: debits and credits (double entry) annual report and accounts of British Vita plc for the year ended 31 December 1992 interim report of British Vita plc for the six months ended 30 June 1993.

Audit of quality of dental care; a pilot-study*

Abstract: Dr. Friedman, with the cooperation of Dr. Schoen, has engaged in an intriguing study of the possibility for evaluating the quality of dental treatment through an examination of patients’records and radiographs.

Accountability Demands Involvement.

Abstract: ^EDUCATIONAL assessment, de centralization, educational audits, cost effec tiveness, performance contracts, behavioral objectives these are efforts at establishing accountability in education. More and more often parents, citizens, the government, board members even educators—are begin ning to hold individuals responsible for attaining specific results in schools. A recent Gallup survey of the public's attitudes toward the schools reveals that 61 percent of public school parents felt a teacher should be paid on the basis of the quality of his work. They strongly (68 percent) favor a system that would hold teachers and administrators more accountable for the progress of students. A remarkable 60 percent of those surveyed indicated they were against tenure for teachers. 1 Unlike the past, when failure to learn was seen as a weakness in the student, the developing view is that if pupils have not learned, the teacher has not taught. Minority parents have ceased to accept the idea that their children are to blame when achieve ment is far below the national average. They feel the educators are responsible for poor pupil performance. A major factor which has precipitated accountability is the skyrocketing cost of

The distribution audit—an application of output budgeting

Abstract: Management’s function is cyclical, consisting of seven elements: 1. Defining objectives. 2. Examining the alternative methods available. 3. Allocating resources. 4. Examining the effectiveness of resource allocation. 5. Planning. 6. Organizing. 7. Control.