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Internal Controls

CMA 688 5-2

Jem Clothes, Inc., is a twenty-five-store chain concentrated in the Northeast that sells ready-to-wear clothes for young men and women. Each store has a full-time manager and an assistant manager, both of whom are paid a salary. The cashiers and sales personnel are typically young people working part-time who are paid an hourly wage plus a commission based on sales volume. The Problem 6 flowchart on page 459 depicts the flow of a sales transaction through the organization of a typical store. The company uses unsophisticated cash registers with four-part sales invoices to record each transaction. These sales invoices are used regardless of the payment type (cash, check, or bank card).
On the sales floor, the salesperson manually records his or her employee number and the transaction (clothes, class, description, quantity, and unit price), totals the sales invoice, calculates the discount when appropriate, calculates the sales tax, and prepares the grand total. The salesperson then gives the sales invoice to the cashier, retaining one copy in the sales book.
The cashier reviews the invoice and inputs the sale. The cash register mechanically validates the invoice by automatically assigning a consecutive number to the transaction. The cashier is also responsible for getting credit approval on charge sales and approving sales paid by check. The cashier gives one copy of the invoice to the customer and retains the second copy as a store copy and the third for a bank card, if a deposit is needed. Returns are handled in exactly the reverse manner, with the cashier issuing a return slip.
At the end of each day, the cashier sequentially orders the sales invoices and takes cash register totals for cash, bank card, and check sales, and cash and bank card returns. These totals are reconciled by the assistant manager to the cash register tapes, the total of the consecutively numbered sales invoices, and the return slips. The assistant manager prepares a daily reconciliation report for the store manager’s review
Cash, check, and bank card sales are reviewed by the manager, who then prepares the daily bank deposit (bank card sales invoices are included in the deposit). The manager makes the deposit at the bank and files the validated deposit slip.
The cash register tapes, sales invoices, and return slips are then forwarded daily to the central data processing department at corporate headquarters for processing. The data processing department returns a weekly sales and commission activity report to the manager for review.

Required:

a. Identify six strengths in the Jem Clothes system for controlling sales transactions.

b. For each strength identified, explain what problem(s) Jem Clothes has avoided by incorporating the strength in the system for controlling sales transactions. Use the following format in preparing your answer.

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Exploring the Top 10 Learning and Development Trends for 2023

Exploring the Top 10 Learning and Development Trends for 2023.

Exploring the Top 10 Learning and Development Trends for 2023

In today’s fast-paced and ever-changing business landscape, learning and development (L&D) have become indispensable for organizations looking to stay competitive and relevant. As we step into 2023, the field of L&D is witnessing significant transformations driven by technology, changing workforce dynamics, and a heightened focus on employee growth and well-being. In this article, we will delve into the top 10 learning and development trends for 2023 that are shaping the future of workplace learning.

1. Microlearning and Nano-Degrees

Microlearning, the practice of delivering bite-sized pieces of information and training materials, continues to gain momentum. In 2023, we can expect organizations to embrace microlearning even more. It caters to the short attention spans of modern learners and aligns with the ‘just-in-time’ learning philosophy. Alongside microlearning, the concept of nano-degrees or micro-credentials is on the rise. These mini-programs focus on specific skills or competencies, allowing employees to upskill quickly and stay relevant in their roles.

2. AI-Powered Personalization

Artificial Intelligence (AI) is revolutionizing L&D by enabling personalized learning experiences. AI algorithms can analyze individual learning patterns and preferences to deliver tailor-made content and recommendations. This not only enhances engagement but also boosts learning outcomes. In 2023, we can expect AI-driven learning platforms to become more sophisticated, making L&D more effective and efficient.

3. Virtual Reality (VR) and Augmented Reality (AR)

Virtual Reality and Augmented Reality are no longer confined to the realms of gaming and entertainment. They are making significant inroads into corporate training. VR and AR technologies enable immersive learning experiences, particularly useful for hands-on training, simulations, and complex skill development. Expect to see more organizations incorporating VR and AR into their L&D strategies in 2023.

4. Hybrid and Remote Learning

The COVID-19 pandemic accelerated the adoption of remote learning, and this trend is here to stay. Even as workplaces return to some degree of normalcy, hybrid and remote work arrangements are becoming the new standard. L&D professionals must adapt by offering flexible learning solutions that cater to employees both in the office and working remotely. This involves leveraging digital tools, webinars, and virtual classrooms.

5. Emphasis on Soft Skills

While technical skills are crucial, soft skills are gaining prominence in the workplace. Skills like emotional intelligence, communication, adaptability, and problem-solving are becoming critical for success. In 2023, organizations will invest more in developing these skills through training programs and coaching to create well-rounded and resilient employees.

6. Gamification and Serious Games

Gamification, the use of game elements in non-gaming contexts, and serious games, which simulate real-world scenarios for learning, continue to be effective strategies for employee engagement. In 2023, we can expect more creative and immersive gamified learning experiences designed to make training more enjoyable and impactful.

7. Data-Driven Learning Analytics

Data is the new goldmine in L&D. Learning analytics tools gather data on employee performance and engagement, providing valuable insights for course improvement and personalized learning paths. In 2023, organizations will rely heavily on data-driven decision-making to enhance the effectiveness of their training programs.

8. Diversity, Equity, and Inclusion (DE&I) Training

Diversity, equity, and inclusion have moved to the forefront of corporate priorities. In 2023, organizations will invest more in DE&I training to create inclusive workplaces and foster a sense of belonging among employees. This training will encompass cultural competency, bias awareness, and other essential components of a diverse and equitable workforce.

9. Continuous Learning Culture

Learning is no longer a one-time event but an ongoing journey. In 2023, organizations will foster a culture of continuous learning, encouraging employees to take ownership of their development. This involves providing resources, mentorship, and opportunities for growth and skill acquisition.

10. Reskilling and Upskilling

As technology evolves, job roles change, and automation becomes more prevalent, reskilling and upskilling are critical. In 2023, organizations will focus on identifying skill gaps and providing training programs to help employees adapt to changing job requirements. This not only benefits employees but also ensures the organization remains competitive in a rapidly evolving landscape.

In conclusion, the learning and development landscape in 2023 is marked by innovation, personalization, and adaptability. Organizations that embrace these top 10 trends will be well-positioned to thrive in a dynamic and competitive environment. As technology continues to advance and the workforce evolves, the importance of investing in employee development cannot be overstated. It is not just a trend; it is a strategic imperative for the future success of businesses worldwide.

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Defining Entities and Data Modeling— Business Rules

Given the following business rules, construct an ER diagram so each rule is captured for the database. Presume each rule is to be treated individually. Construct an ER diagram for each rule.

a. A retail sales company prepares sales orders for its customers’ purchases. A customer can make many purchases, but a sales order is written for a single customer.

b. A retail sales company orders inventory using a purchase order. An inventory item may be ordered many times, and a purchase order may be created for more than one inventory item.

c. A company that sells antique cars prepares a sales order for each car sold. The inventory for this company consists of unique automobiles, and only one of these automobiles may be listed on a sales order.

d. A grocery store identifies returning customers via a plastic card that the clerk scans at the time of each purchase. The purpose of this card is to track inventory and to maintain a database of customers and their purchases. Obviously, a customer may purchase an unlimited number of items from the grocery store. Items are unique only by a UPC code, and each UPC code may be associated with many different customers.

e. A video rental store uniquely identifies each of its inventory items so customers can rent a movie and return the movie via a drop box, and the store can identify which copy of the movie was rented and returned. A customer is allowed to rent up to six movies at a time, but a copy of a movie can only be rented by one customer at a time.

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2012 End of the World: A Retrospective Analysis of Apocalypse Predictions

2012 End of the World: A Retrospective Analysis of Apocalypse Predictions.

2012 End of the World: A Retrospective Analysis of Apocalypse Predictions

The year 2012 was the subject of intense speculation and apprehension for many people around the world, primarily due to various apocalyptic predictions. These predictions were based on interpretations of ancient texts, scientific hypotheses, and even pop culture. In this retrospective analysis, we will explore the various end-of-the-world predictions for 2012 and examine why they didn’t come to pass.

The Mayan Calendar

One of the most well-known 2012 apocalypse predictions was based on the Mayan calendar. The Mesoamerican Long Count calendar, used by the ancient Mayans, reached the end of its 5,126-year cycle on December 21, 2012. Many interpreted this as a sign of an impending cataclysmic event.

Retrospective Analysis:

In reality, the Mayan calendar didn’t predict the end of the world but rather the end of a calendar cycle. Just as our modern calendar resets at the end of December each year, the Mayan calendar simply rolled over to a new cycle. December 21, 2012, came and went without any apocalyptic events.

Nibiru (Planet X)

Another prominent prediction was the existence of a mysterious planet called Nibiru or Planet X, which was supposedly on a collision course with Earth in 2012.

Retrospective Analysis:

No credible scientific evidence supported the existence of Nibiru. Astronomers and space agencies worldwide confirmed that there was no such celestial body on a collision course with Earth in 2012. This prediction was purely speculative and sensational.

Solar Storms

Some 2012 predictions centered around the possibility of massive solar storms that would disrupt Earth’s electronic infrastructure and cause widespread chaos.

Retrospective Analysis:

While solar storms can pose a threat to our technological infrastructure, there was no evidence to suggest that an exceptionally destructive solar storm would occur in 2012. Solar activity varies cyclically, and scientists closely monitor the sun’s behavior. In 2012, there were no extraordinary solar events that threatened our planet.

Religious and Prophecy Predictions

Various religious groups and self-proclaimed prophets predicted the end of the world in 2012. These predictions often cited divine prophecies or messages from higher powers.

Retrospective Analysis:

Throughout history, numerous end-time predictions based on religious beliefs or prophecies have failed to materialize. 2012 was no exception. The lack of empirical evidence and the subjective nature of such predictions make them inherently unreliable.

Galactic Alignment

Some speculated that an alignment of the Earth, the sun, and the center of the Milky Way galaxy would lead to catastrophic consequences.

Retrospective Analysis:

Galactic alignments are natural and regular events in the cosmos. They have no discernible impact on Earth’s stability or climate. This prediction was rooted in pseudoscience and did not hold up to scientific scrutiny.

Conclusion

In retrospect, the apocalyptic predictions surrounding the year 2012 were based on a combination of misinterpretations, pseudoscience, and sensationalism. None of these predictions came to fruition, and the year 2012 proceeded like any other year in history. This episode serves as a reminder of the importance of critical thinking, skepticism, and reliance on scientific evidence when evaluating claims of impending doom. While apocalyptic predictions continue to emerge from time to time, they are rarely grounded in sound science or genuine prophetic insight. As we look back at 2012, it becomes evident that the world did not come to an end, and humanity continued its journey into the future, facing a different set of challenges and opportunities.

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