PRINCIPLES AND PRACTICE OF MANAGEMENT Subject content
BACKGROUND TO MODERN MANAGEMENT
Introduction
Role of Theory in Management
The Managerial Skills
Functions of Managers
THEORIES OF MANAGEMENT
Classical Management Theory
Administrative Theory
Bureaucracy by Max Weber (1864-1920)
Scientific Management Theory
Behavioral Management Theory
Systems Theory
Contingency Theory
PLANNING FUNCTION
Types or levels of planning
Hierarchy of Management
Steps in Planning
ORGANIZING FUNCTION
Elements of an Organizational Structure
Organisational design
STAFFING FUNCTION
Human Resource Planning
Components of HR Planning
Recruitment and Selection
Training and development
Performance appraisal
Employee compensation
DIRECTING FUNCTION
Motivation
Theories of Motivation
COMMUNICATION
Functions of Communication
The Process of Communication
Causes of Communication Failure
Types of Communication
Recent Posts
State the evidence, which you, as the auditor, would like to find in place and pay attention to when vouching the following payments made by RR Paper Mills Ltd., during the financial year ended 31 October 2002. The last call on 5, 000 ordinary shares at Sh, 15 per share
Explain five factors which would indicate to the auditor that the going concern assumption of the business entity he is auditing is threatened
A very important aspect of the audit of the financial statements by an external auditor is the observation of the physical stocktaking. Required: List four procedures that an auditor would need to undertake prior to attending a company‘s stock-take
State the evidence, which you, as the auditor, would like to find in place and pay attention to when vouching the following payments made by RR Paper Mills Ltd., during the financial year ended 31 October 2002. Salesmen‘s commissions amounting to Sh. 3, 000, 000
A very important aspect of the audit of the financial statements by an external auditor is the observation of the physical stocktaking.Required: Why does the auditor need to attend a stock-take of the company that he audits?
You are a senior member of the audit team at Grain Millers Ltd., a company whose business is milling maize, wheat and other products for local consumption. The annual turnover for the year ended 30 September 2002 amounted to Sh. 1.5 million and most of its sales were on credit.The audit team leader has assigned you the audit of the provision for bad and doubtful debts which has been set at Sh. 4.75 million; out of which Kshs 3.25 million relates to the provision against specific bad and doubtful debts and the balance of Sh. 1.5 million is a general provision determined as a percentage of overdue debtors with a higher percentage being applied against the longest overdue accounts. Required: What is meant by the following terms as used in auditing: Cut off procedure? and Audit in depth?
You are a senior member of the audit team at Grain Millers Ltd., a company whose business is milling maize, wheat and other products for local consumption. The annual turnover for the year ended 30 September 2002 amounted to Sh. 1.5 million and most of its sales were on credit.The audit team leader has assigned you the audit of the provision for bad and doubtful debts which has been set at Sh. 4.75 million; out of which Kshs 3.25 million relates to the provision against specific bad and doubtful debts and the balance of Sh. 1.5 million is a general provision determined as a percentage of overdue debtors with a higher percentage being applied against the longest overdue accounts. Required: Outline the audit procedure you would apply in verifying the general provision for bad and doubtful debts and Explain how you would verify the specific provision for bad and doubtful debts
A very important aspect of the audit of the financial statements by an external auditor is the observation of the physical stocktaking.Required:How does the auditor satisfy himself that the procedure adopted by the management with regard to stocks have been applied throughout the financial period?
Briefly explain the meaning of the following terms as used in auditing: The materiality concept and the going concern concept
The National Metal Works Limited manufactures and retails door and window frames. The company recently dismissed their external auditors. The directors have approached your firm of accountants to act as their auditors and the directors have proposed a fee of KShs. 1, 000, 000 plus a bonus of 1% of profits after tax. Required: Describe the steps you would take before advising the partners of your firm whether to accept the appointment as auditors or not
