Auditing case study Essay Example | Topics and Well Written Essays - 2000 words

Auditing case study - Essay Example ’s best performing market with a 4% rise in sales even though its export sales recorded a 1% contraction when compared to the previous financial year. Overall group data reported that sales into the U.S.A market rose by 24% whilst the European market indicated a 12% decline. The company’s overall profitability was assisted by the strengthening of the US dollar when compared with the sterling pound during this period. 2. The company’s profit before tax stood at  £2,052,000 in 2012/13 when compared with 2011/12 whereby it stood at  £843,000 before the IAS 19 pension adjustment. The main expenditure stood at  £555,000. The other expenses were  £228,000 which was mostly related to executive transition costs. Looking at their major products, Technical Fiber Products had an operating profit standing at  £1,450,000 compared to 2011/12 when it stood at  £629,000. Their turnover figures grew by about 6% on the preceding year’s turnover figure of  £12,599,000. Sales in the Defense and Aerospace sectors represented an 18% and 20% of the overall sales respectively. The sales of TFP into the U.S.A increased by 16% and 17% in US dollar and Sterling terms respectively. The U.S.A represented the TFPs most important market with which accounted for about 55% of its turnover while it stood at 50% over the preceding year. It was however not so rosy in when looking at the same sales out o f the U.S.A which shrunk by about 6%. The company took several steps aimed at consolidating the US operations. It closed the Cincinnati facility in mid-2012 while it will take until the third quarter of 2013 for the new facility at Schenectady to achieve to several consumer programs. The Schenectady facility needed an investment about US$3million initially. In conclusion, there is heightened audit risk in revenue area. 1. According to the annual report, the company is undergoing major re alignments in its principle market in the U.S .The closures of the Cincinnati plant and future closure of

The role of religion in health promotion from a sociological point Essay

The role of religion in health promotion from a sociological point - Essay Example The World Health Organisation (WHO, 1947) defines health as â€Å"a state of complete physical, mental and social well-being and not merely the absence of disease or infirmity† (Edlin, et al, 2000). This paper proposes to identify the benefits and factors relating to religion in the socialization of individuals, the development of social networks, and opportunities to enhance the health of various populations within the United States. The holistic view of health acknowledges the inter-relatedness of the spiritual, physical, psychological, emotional, social, and environmental factors that contribute to the overall quality of a person’s life. (Edlin, et al, 2000). Socialization may be defined as the process by which an individual learns the ways of a given society or social group so that he can function within it. The socialization process occurs through social relationships, hence it is a function of social interaction (Elkin, 1960). Through the mechanisms of religion: church attendance, participation, etc, socialization takes place. A principle of theosomatic medicine, as stated by Levin (2001) is that â€Å"regular religious fellowship benefits health by offering support that buffers the effects of stress and isolation†. Thus it is observed that by developing social contacts through the church or other religious organisation, the individual is able to come out of his isolation and get socialized into the religious group. Becoming a part of a group gives them a sense of belonging and security which has positive health outcomes. From a study conducted by Berkman and Syme (1979), for people between sixty and sixty-nine years of age, the relative risk of dying over the next nine years was 1.8 times greater for the most isolated men than the risk for the most connected men. For women in this age group, those with the least connections had three times greater risk than those with the most connections.. Surveys and research on Americans’ religious practices