The First Christmas Of My Family - 905 Words

December 24th, 2016 was the first Christmas I spent in America with my host family. All kinds of decoration were ready to light up and a variety of gifts were set up under the Christmas tree . My host parents and I were hanging up the Christmas socks at the fireplace. Within the 8 socks this year, there were three of them did not belong to the fireplace anymore. Baddy, Peter, and Jasmine, their socks were hung at the second-floor platform, a place for the dogs that no longer with us. Standing by the entrance door, I looked upward to the third sock with Jasmine’s name on it. With Jasmine’s Christmas sock moving from the fireplace and taking an empty space on the second floor, I realized something was change. It was not only about the dogs but also myself. Looked at the socks, I couldn’t help to recall the memory between Jasmine and I. The first time I met Jasmine was from the pictures my host family sent to me before I came to America. In one of the pictures, there were 2 big dogs chasing each other around in the back yard. One was Jasmine a nine-year-old black lab-mix, the other one was Haley, a 12 years old dalmatian mix with black patterns on the white fur. I worried that if I could get along with the dogs because for the first sixteen years in my life there never was a dog around. In my mind, I stereotyped big dogs as an aggressive and fierce animal. However, once I met them, I started to seem them as the best dogs in the world. Just like any other big dogs, Haley andShow MoreRelatedChristmas, 2009 Essay737 Words   |  3 Pagespatiently for Christmas to arrive because I always thought on Christmas as an occasion when the family gets together. And this past year (2009) was not different from the others; I was very excited waiting for Christmas. Especially, because I was going to spend this holiday in Mexico with my grandma, aunts, uncles and cousins, but all that emotion did not take me to a Christmas full of joy as the past years. Christmas was very important to me because it was Camila’s (my daughter) first time in MexicoRead MoreSummary : Christmas Tree 1171 Words   |  5 Pagessees different symbols when they think of Christmas.(GS1) A Christmas tree is a huge part of Christmas, it is decorated and the presents are set under it for Christmas day.(GS2) Snowflakes are a trail of pureness left by God to notice all the little things. (GS3) Santa is one of the first things that kids today think of when they hear the word Christmas. (Thesis statement) For Christmas there are many different symbols, (I) the Christmas tree is what the family takes part in with their own creativityRead MoreAustralian Christmas: A Holiday Short Story1282 Words   |  5 PagesAustralian Christmas Holiday Short Story When I was little, Id count down the days until Christmas for months beforehand. Each day, Id wake up, and Id tear the front page from my homemade Christmas countdown. The holidays have always been special for my family. Our home has long been the epicenter, just north of the shoreline, a great destination for friends and especially a holiday with family members trekking from all over the country to spend a week with us just in our home near Hyams BeachRead MoreChristmas Tree817 Words   |  4 Pagesanxiously awaited that special time of year when family gets together and everyone seems joyful and serene. As the snow falls lightly on the ground, one can sense a special atmosphere in shops, restaurants, and even on streets. This special holiday is based on a crucial time in religious history. Consequently, our society has passed down traditions to commemorate the Christmas season, a significant religious holiday. Beyond a doubt, my favorite holiday is Christmas. During this festive season, I love theRead MoreA Culture Event I Attended Was A Christmas Holiday Parade894 Words   |  4 Pagesattended was a Christmas Holiday Parade. I choose this event because this holiday can be interpreted in multiple different ways throughout the world. Differing cultures, societies, family traditions, and religion, are all factors on how each person celebrates this particular cultural holiday. Christmas Day is a huge occasion that is acknowledged and honored by many every year. Although it may be interpreted differently, the celebrations and festivities are seen all around the world. Christmas is a yearlyRead MoreChristmas Is A Sacred Festival Of The Christians And A Traditional Holiday For Atheists921 Words   |  4 PagesChristmas rationale Christmas is a sacred festival of the Christians and a traditional holiday for atheists. It is celebrated with great enthusiasm and gaiety all over the world. Students and almost all employees take a Christmas holiday break for two or three weeks. In this essay I will explain my three week schedule in Christmas holiday break from December 14th 2015 to December 31st 2015. I always create a study plan to navigate through my college education in a more organised way and to improveRead MoreThanksgiving Is A Day Of Giving Thanks1203 Words   |  5 Pagestime for family, friends, and great food and let s not forget a break from work. But my overall favorite time of the year is the holiday season, Thanksgiving and Christmas and the family traditions that brings out the holiday spirit. To start with, Thanksgiving is a day of giving thanks. It is not only a time to give thanks on that day, but to be thankful throughout the entire year. Thanksgiving is not just about the turkey and dressing, the honey ham or the pecan pies; it is day for families to gatherRead MoreThe Union Gospel Mission Of Portland1416 Words   |  6 PagesEvery year near the Christmas season there are several places in Portland Oregon asking residents of the city to donate gifts for those in need. There is the KGW toy drive, which is partnered up with Les Schwab Tires and KGW Television and Radio station. Donate a new unwrapped toy at any Les Schwab Tire store in the metropolitan area of Portland. They can also be delivered directly to KGW s station house located at 1501 SW Jefferson St. in Portland. Donations for gifts in Portland can range fromRead MoreComparing Thanksgiving and Christmas Essay555 Words   |  3 PagesThanksgiving and Christmas. This time of the year always is the happiest be cause everything feels so refreshing because I am spending quality time with the people I love most. When it comes to Thanksgiving and Christmas, I always seem to have the most memorable good and bad moments. These holidays have very different meanings but have the same feeling because it symbolizes, good food, good times with family and a whole lot of drama. When I think about Thanksgiving and Christmas, the first thoughtRead MoreI Am Very Thankful For My Pets Essay929 Words   |  4 PagesFamily Connecters I am very thankful for my pets. I have 6 pets altogether. I have two dogs and four fish, my dogs name s are Shelby and Missy and my fish s names are Flipper, Ariel, Pearl, and Pinkie. My dogs stay at my house and my fish stay at my grandparents house. This is the first Christmas and Halloween for my fish. My dog Shelby is nine years old and Missy is six years old. My fish will be four months on the 20th of November. My pets birthdays are, Shelby s is October 8th, Missy s is

Fossil Fuel Power Station - 4909 Words

A fossil-fuel power station is a type of power station that burns fossil fuels such as coal,natural gas or petroleum (oil) to produce electricity. Central station fossil-fuel power plants are designed on a large scale for continuous operation. In many countries, such plants provide most of the electrical energy used. Fossil fuel power stations have rotating machinery to convert the heat energy of combustioninto mechanical energy, which then operates an electrical generator. The prime mover may be a steam turbine, a gas turbine or, in small plants, a reciprocating internal combustionengine. All plants use the energy extracted from expanding gas - steam or combustion gases. A very few MHD generators have been built which directly convert the†¦show more content†¦Unloading one of these trains takes anywhere from an hour to an hour and a half. Older unloaders may still use manually operated bottom-dump rail cars and a shaker attached to dump the coal. Generating stations adjacent to a mine may receive coal by conveyor belt or massive diesel-electric-drive trucks. A collier (cargo ship carrying coal) may hold 40,000 long tons of coal and takes several days to unload. Some colliers carry their own conveying equipment to unload their own bunkers; others depend on equipment at the plant. Colliers are large, seaworthy, self-powered ships. For transporting coal in calmer waters, such as rivers and lakes, flat-bottomed vessels called barges are often used. Barges are usually unpowered and must be moved by tugboats or towboats. For start up or auxiliary purposes, the plant may use fuel oil as well. Fuel oil can be delivered to plants by pipeline, tanker, tank car or truck. Oil is stored in vertical cylindrical steel tanks with capacities as high as 90,000 barrels (14,000 m3) worth. The heavier no. 5 bunker and no. 6 fuels are typically steam-heated before pumping in cold climates. Plants fueled by natural gas are usually built adjacent to gas transport pipelines or have dedicated gas pipelines extended to them. [edit]Fuel processing Coal is prepared forShow MoreRelatedFossil Fuel Power Station4915 Words   |  20 PagesA  fossil-fuel power station  is a type of  power station  that burns  fossil fuels  such as  coal,natural gas  or  petroleum  (oil) to produce  electricity. Central station fossil-fuel power plants are designed on a large scale for continuous operation. In many countries, such plants provide most of the electrical energy used. Fossil fuel  power stations have rotating machinery to convert the heat energy of  combustioninto  mechanical energy, which then operates an  electrical generator. The  prime mover  may beRead MoreAdvantages and Disadvantages of Fossil Fuels1073 Words   |  5 PagesAdvantages of fossil fuels * major advantage of fossil fuels is their capacity to generate huge amounts of electricity in just a single location.   * Fossil fuels are very easy to find.   * When coal is used in power plants, they are very cost effective. Coal is also in abundant supply.   * Transporting oil and gas to the power stations can be made through the use of pipes making it an easy task.   * Power plants that utilize gas are very efficient.   * Power stations that makeRead MoreRenewable and Nonrewable Energy Resources Essay1505 Words   |  7 Pagesnon-renewable resources; and some of these include fossil fuels such as coal, gas and oil. Fossil Fuels ============ Coal, oil and gas are the sources of energy we call fossil fuels. They are called fossil fuels because they are decayed and altered remains of plants and animals that lived on earth hundred of millions of years ago. Fossil fuels are usually found below ground (like oil and natural gas). Fossil fuels hold a lot of stored chemical energy. BurningRead MoreFossil Fuels Coal, Petroleum, And Natural Gas756 Words   |  4 PagesFossil fuels—coal, petroleum (oil), and natural gas — are concentrated organic compounds found in the Earth’s crust. They are created from the remains of plants and animals that lived millions of years ago in the form of concentrated biomass. According to the US Energy Information Administration (EIA), fossil fuels meet 81 percent of U.S. energy demand. Scattered records of the use of coal date to at least 1100 BC. By the middle Ages, small mining operations began to spread in Europe, where coalRead MoreThe Impact Of Electric Vehicles On The Future Of Electric Cars1613 Words   |  7 PagesBackground Electric vehicles have been around far longer than their fossil fuel powered counter parts. They have been popular as early as the late 19th century and the early part of the 20th century. One of the best-selling vehicles at the point was the Columbia Runabout, which could go 40miles on a single charge and run at speed up to 25 kmph. They were initially considered a safer option when compared to cars powered by fossil fuels, as initial ICI cars were prone to backfire. This all changed withRead MoreEnergy1130 Words   |  5 Pagesfollowing major sources of energy for the production of electricity: fossil fuels, nuclear energy, solar radiation, and hydro energy. Fossil fuels include coal, petroleum, and natural gas. Fossil fuels are a finite, non-renewable resource. They remain the primary source for the production of electricity. The combustion of these fuels releases their chemical energy, which produces heat to power steam turbines. The steam turbines power rotating electric generators, which turn kinetic energy into electricityRead MoreThe Power of Water Essay1599 Words   |  7 Pagesand the general rise of cost of fossil fuels alternatives have been explored. One of these is hydrogen power in the form of the hydrogen fuel cell. This source of power is unique because the only direct byproduct of it is water. With hydrogen power there are several ideas that need to be understood to determine if hydrogen power can significantly reduce or replace fossil fuels in homes and cars. First, how hydrogen is able to produce power as well as what a fuel cell is and how it works. SecondRead MoreFuel Usage Of Electric Vehicles1389 Words   |  6 Pagesnon-renewable fossil fuels, and as such is not sustainable in the long term. The subject of this research is to investigate the impact of targeting 20% of the light passenger fleet being electric. The current electric vehicle fleet is less than 1% of the light passenger fleet, which consists mainly of petrol and diesel vehicles (Ministry of Transport (MoT), 2016). If the New Zealand government hopes to increase this figure to 20%, one of the main driving factors is reducing fossil fuel consumptionRead MoreUsing Alternatives Sources Of Energy1401 Words   |  6 Pages Up until a few years ago, we used to exploit fossil fuels for almost all of our needs (heating, transportation, etc.) without thinking if there are enough supplies or even about their negative effects their emissions cause to the environment. According to many scientific investigations our fossil fuel resources (oil, coal and gas) are running out, furthermore their emissions pollute the environment and contribute to the greenhouse effect. Undoubtedly, these situations as well as the fact that theRead MoreShould The Uk Replace Nuclear Power? Essay1375 Words   |  6 Pagesare facing two main problems about electr icity: resources of fossil fuels are running out and countries need to diminish their carbon emissions. Nuclear is seen as the most common alternative. Nuclear currently supplies 19% of the UK’s electricity and 11% in the world (NIA,2015). In the UK, all but one of the current nuclear plants are due to close by 2023. Should the UK replace their nuclear plants by a new generation of nuclear stations? Because of the accidents, costs and problems of nuclear waste

The Tragic History of Hamlet, by William Shakespeare Free Essays

In the Tragic History of Hamlet, by William Shakespeare, , the sane Hamlet occasionally switches between sanity and insanity. When madness orders Hamlet’s purpose, he puts on an â€Å"antic disposition† (I. V. We will write a custom essay sample on The Tragic History of Hamlet, by William Shakespeare or any similar topic only for you Order Now 463). On the other hand, when sanity proves worthy, Hamlet continues back to being logical. Hamlet claims he is â€Å"mad north-north-west (II. ii), meaning he is mad sometimes and sane other times. To achieve his goals, Hamlet continues back and forth between sanity and insanity, which ironically, shows his goal of revenge. To begin, Hamlet starts of insanity to try and achieve his goals. Hamlet uses is insanity as a weapon, changing insanity into the form of words or action. Hamlet is only insane towards his enemies or his enemies allies. For example, Hamlet attacks Ophelia, who has allied herself with Claudius with words â€Å"are you honest† (III. i) â€Å"are you fair† (III. i). Hamlet â€Å"speaks daggers† (III. ii) to Gertrude, because she is an interference to Hamlet. Also, Hamlet destroys Polonius so violently that Hamlet guarantees that Polonius is â€Å"dead, for a ducat, dead† (III. iv). Hamlet deeply harms both Ophelia and Gertrude with his words of insanity, while sending Polonius to the grace with his actions of insanity. All three people, Ophelia, Gertrude and Polonius, are Claudius’ allies, and by hurting Claudius’ allies, Hamlet is indirectly wounding Claudius. This is Hamlet’s short term goal: to get rid Claudius of allies. Besides using insanity to harm Claudius’ allies, the little presence of Hamlet’s insanity troubles Claudius. Gradually, Claudius gets more furious with Hamlet and knows that â€Å"madness in great ones must not unwatch’d go† (III. i. ). Hamlet’s insanity causes Claudius to send people to uncover the mysteries of his insanity. Hamlet’s fake madness causes Claudius to increase anger. Claudius’ confusion is Hamlet’s other short-term goal. In brief, Hamlet’s insanity has helped him achieve his short-term goals of eradicating Claudius’ allies and confusing Claudius. On the other hand, Hamlet returns to sanity and uses it as a method of concentration. Whenever Hamlet is sane, he is focused on the current situation. When Hamlet encounters the ghost, he tells it to â€Å"speak†, because he is â€Å"bound to hear† (I. v. ). While speaking with the ghost, Hamlet cries for his â€Å"prophetic soul† (I. v. ). Hamlet is also very focused when speaking and listening to Horatio. When Horatio tells Hamlet about the ghost of Hamlet’s father, Hamlet asks Horatio to â€Å"let him hear† (I. ii. ). While sane, Hamlet’s thoughts are clear and he is focused on the topic. When meeting his father’s ghost, he pays full attention to it. When Hamlet speaks to Horatio about Hamlet’s father’s ghost, Hamlet listens and speaks with sanity. Hamlet also refers to his â€Å"prophetic soul† (I. v. ). Since Hamlet describes himself to have a â€Å"prophetic soul† (I. v. ), it shows that his mind is very clear, unlike the mind of the insane. Hamlet’s short-term goal is to concentrate when necessary. When Hamlet is alone, his thoughts are very thorough. For example, Hamlet’s â€Å"to be or not to be† (III. i. ) speech is very clearly thought out. Hamlet’s thoughts are much more mature than those of the insane. Hamlet’s second short-term goal is to philosophize. Through the return into sanity, Hamlet is able to accomplish both his short-term goals of concentration and philosophizing. However, due to the constant reversal between sanity and insanity, Hamlet’s revenge is slowed down. Hamlet’s mind becomes tangled due to constant changes in personality, between sanity and insanity. Early in the play, Hamlet says that he will put on an â€Å"antic disposition† (I. v. ). However, in the last scene of the play, Hamlet tells Horatio that â€Å"in my heart there was a kind of fighting† (V. ii. ). At one point he says that he will fake insanity, while later, he says that there is fighting in his heart, which hints insanity. Due to this, Hamlet becomes indecisive. Hamlet’s inability to act causes his revenge to be slowed. In the end, it is believed that Hamlet is very sane. His act of insanity is to mess with the others heads. He knows that Claudius has sent Rosencrantz and guildenstern to spy on him. He doesn’t want them to know that what he is planning is to unveil the truth, and that Claudius murdered King Hamlet. He does not want Claudius to know that he knows the truth. Hamlet switches between sanity and insanity to achieve his short-term goals. He uses insanity against enemies and sanity as a method of concentration. However, the constant switch of sanity and insanity brings him a slow revenge. How to cite The Tragic History of Hamlet, by William Shakespeare, Papers

Procedures Financial Report Information DIPL †Free Samples

Question: Application Of Analytical Procedures To The Financial Report Information Of DIPL? Answer: Introducation Analytical processes to the financial report information of DIPL can help in developing the plan of audit. This plan of audit can be considered to be a particular guideline that need to be followed at the time of undertaking the audit. In particular, this assists the assessor in maintaining costs of audit at a reasonable level and assists in averting misunderstanding with the clientele. Analytical approach to the financial declarations of the firm DIPL refers to the process of dissemination of the information from the financial declaration of the firm. This process of evaluation can be carried out by utilizing a variety of mechanisms. However, by using an analytical approach of analysing financial declarations, different accountants as well as financial analysts can decipher information in order to help in arriving at vital business decisions. Analytical approach of common sizing helps in analysing the financial declarations to a common reference point. This in turn help in comparing the financial statements in terms of different period of time or else in terms of different corporations. Assessors can take into consideration the different line of items mentioned in the financial report, check their way of reporting. For example, the way of registering items such as net assets or else net liabilities along with owners equity in the financial reporting of the firm and the examine the digression from the normal. Benchmarking that is regarded as an analytical procedure can be utilized for analysing audit plan. Variance of actual financial declaration from the benchmark helps in recognizing the deviation and assists in analysing the cause of the detected variance in order to determine the root cause. In addition to this, ratio analysis can be considered as an appropriate analytical approach that can be used for comparing financial declarations and assessing plan of audit. Explanation of the way the results influence planning decisions for the audit The results of the planning decisions for the audit planning is necessarily influenced by the results of the analytical approach adopted for disseminating information from the financial statements. For example, outcomes of the ratio analysis namely, current ratio of the firm DIPL is calculated to be 1.42 in 2013, 1.46 in 2014 and 1.5 in 2015. Again, profitability ratio that is the profit margin calculated to be 0.068 in 2013, 0.60 in 2014 and 0.06 in 2015. This profitability ratio can reveal the condition of the net income earned by the firm as compared to the net sales of the firm DIPL (Duncan and Whittington 2014). However, this too can help the assessor to understand whether expenses are low or else high and whether the management of the firm have the requirement to curtail budget and at the same time expends of the firm. The favourable or else unfavourable changes in the ratio can be used as a factor of reference for assessment /audit of the soundness of the financial health and overall financial condition of the firm DIPL. Again, for instance, the use of solvency ratio calculated to be 0.62 in 2013, 0.44 in 2014 and 0.21 in 2015 helps in understanding the desirable as well as undesirable trends in the financial condition of the firm. Similarly, comparison of the ratio over the three year period can help in understanding whether the overall flow of cash of the corporation is adequate enough to meet both the short as well as long term liabilities of the corporation DIPL. The assessors can understand the relative position of the firm over the three year period and analyse the factor that led to the undesirable or else unfavourable condition of the corporation (Nalewaik and Mills 2016). Identification of inherent risk factors that arise from nature of business operations of DIPL As such, there are several important factors in auditing that comprises of incidence of material misstatements in the financial announcements of a specific concern. However, it can be hereby make certain that there are different forms of systematic along with unsystematic risks that reflect the way towards financial misstatements in the financial declarations of corporations. However, the detected risks might possibly be due to both financial as well as non-financial factors that eventually can avert a specific corporation for reflecting a true as well as fair view of pertinent financial declarations. Nevertheless, an evaluator might perhaps find it demanding to detect certain risks. William Jr et al. (2016) opines that identified risks may well be linked to different risks correlated to omission along with risks of diverse errors that is unthinkable for a specific bookkeeper. In essence, this can be regarded as the inherent risk that might arise from nature of business operations of DIPL. According to the given study, it can be hereby made certain that there are numerous transactions that are particularly omitted by the accountants otherwise the management of the corporation DIPL. However, this can sequentially direct lead towards inconsistencies particularly owing to the ineffectual planning of essentially the marketing along with sales activities. Furthermore, evaluation of the financial declarations of the firm also reveals the fact that the firm has failed to accomplish the preferred profit level from the revenue from sales (Hayes 2014). Particularly, this might be due to the management failure of the firm in identification of specific requirements and consequent adjustment of the functionalities of the corporation. Thus, it can be hereby concluded that the business organization has failed to analyse different micro as well as macro-economic facets that might perhaps be in existence in the form of economic, political along with social factors. This is subsequently reflected in the poor sales figure of the firm and led to diverse inherent risks (Arens et al. 2016). Apart from this, the workers of the firm DIPL have also escalated the overall inherent risks. Due to lack of experience and proficiency of employees in the corporation, the inherent risks of the corporation have escalated substantially. This is because accomplishment of a specific business concern depends on the competency of the members of the staff. The non-proficient workforces can enhance the inherent risks since they are bound to commit mistakes for instance, the errors of exclusion that further leads the way towards the misstated pecuniary announcements (DeFond and Zhang 2014) Again, other significant facets that contribute towards the inherent risks can be categorised into different sections specifically, environmental along with external facets, material misstatements in previous periods along with falsified exercises. Different environmental facets that direct the way towards inherent risk comprises of swift alterations in which there might be issues associated to valuation of inventory, stiff competition in the generic market along with shortage of adequate capital (Knechel and Salterio 2016). In addition to this, the corporation also undertake material misstatements that might perhaps direct towards inherent risk in the upcoming period. Evaluation of the current case of DIPL reflects the fact that the complexities as well as difficulties involved in the process of succession of CEO also involves inherent risk. Essentially, succession of CEO can be considered to be different and the candidates are extremely individual (Louwers et al. 2015). However, there are several risks that are inherent in the process of succession of CEO, quality of procedure of selection together with ease of transition as process is handled. So, commencement of the process without complying with the strategy, initiating the process late, inadequate involvement of the CEO and departure of candidates leaving the company might possibly lead to inherent risks. Analysis of the given case reveals that the process of implementation of the novel IT system generated certain issues. DIPL did not enough number of staff to handle the process of execution and installation and carry out the reconciliation as well as testing essentially before the new arrangement prior to the end of the year. Again, initial testing revealed that certain transactions undertaken were not accurately apportioned to the correct time period. Thus, this led to the material misstatement owing to inherent factors that is necessarily error or else omission in a specific financial declaration (Eilifsen et al. 2013). Furthermore, the recording of the cash receipts by the finance professionals of the company might perhaps lead to inherent risks if not properly handled. The members of the staff need to follow a proper sequence so that accounts receivables are properly registered and accounts receivable ledger need to be properly maintained. In addition to this, the bank reconciliation also needs to be properly recorded thereon (Cannon and Bedard 2016). Again, registering the revenue generated from the e-book, taking account of reprint of textbooks if required in the upcoming period can lead to diverse inherent risks due to complexity involved in the process. In addition to this, process of valuation of different raw material inventory at particularly average cost was not suitable since the present cost of paper was considerably above the average cost. Risk and way it might affect the risk of material misstatement in the financial report The identified inherent risks can be considered as the susceptibility of a particular assertion in association to material misstatement. Excessive pressure on employees and management: - Excessive workload on members of the staff of the corporation leads to poor bookkeeping. This leads to certain attributes namely propensity to encounter cash flow issues, poor operating outcomes along with poor liquidity (Barton and Bruder 2014). Risks of errors or else incorrect misrepresentation: - There remains reliability and intricacy owing to risks of errors as well as misrepresentation simultaneously. Integrity of the entire management: - Management of DIPL essentially lacks requisite integrity and thereafter they are also expected to be prepared for reputation loss in the entire business community (Beasley 2015). Unusual pressure on management: - Sometimes it happens that there exists incentives for management that leads to misstatement in the pecuniary declarations (Barton and Bruder 2014). Nature of entity business: - DIPL also leads to growth to major economic along with competitive circumstances. Again, these facets might affect the overall inherent risk of business entity for analysing audit planning structure in an effective way (Beasley 2015). Identification and explanation of two key fraud risk factors relating to misstatements arising from fraudulent financial reporting Identification as well as explanation of fraud risk related to material misstatement As rightly indicated by (), fraud risk leads to considerable losses of assets owing to fraud. The dissatisfaction of the workforce owing to excessive workload of the employees can induce them to involve in fraud. In addition to this, expectations from different investors to report specific financial outcomes or particularly by management to attain specific performance targets leads to high fraud risk. There also remains strong pressure to declare specific financial outcomes in a bid to avert generating the guarantees. The major fraud risks that might occur owing to the operations of the firm DIPL include workforce engages in fraudulent actions due to higher level of dissatisfaction of employees. The given case study on the operations of DIPL mentions that there remains huge pressure from particularly the board to acquire a novel accounting system. This excessive pressure on the employees to carry out the process of installation of the new IT system for accounting might lead to fraud. This implies that the employees might engage in fraudulent activities and handle the procedure of reconciliation in an improper manner and subsequently material misstatement. The case study also illustrates that the improper handling of the process of execution of the implementation of the information technology for the accounting system led to improper allocation of certain transactions around the end of the year. This in turn might lead to loss due to material misstatement and fraud risk. Another fraud risk that might occur include the risk of financial reporting fraud. At the time when there is excessive expectation from outside financiers to declare specific financial announcements or else from management to meet specific performance targets or else to meet certain goals to qualify for acquiring debt, there remains high risk of improper financial announcements. The statement of financial position of the company DIPL shows that the revenue of the company has increased over the period 2013 to 2015. In addition to this, the gross profit as well as the net profit has also increased. Furthermore, the current assets and total assets of the corporation DIPL has also escalated. However, the case study reveals that during the year 2015, the company has acquired a loan amounting to 7.5 million particularly from BDO Finance. Besides this, the case study also reflects the fact that this particular loan has a specific loan agreement that requires DIPL to maintain a present a cur rent ratio of around 1.5 along with a debt equity of approximately lower than 1. This shows that this requirement might pressurize the company to maintain the financial ratio so that they can acquire the credit. Therefore, this might lead to fraudulent actions and lead to improper reflection of financial position. In essence, failure of the company to maintain the definite benchmarks can again make the company non-eligible to acquire finance from BDO Finance. Explanation of the way the risk factors identified According to the given case, it can be hereby stated that process of valuation of different raw material inventory at particularly average cost was not suitable since the present cost of paper was considerably above the average cost. Risk of identifying fraudulent actions involved in implementation of the new IT system can be carried out by monitoring different activities at different phases. The risk of financial reporting can be detected by carrying out evaluation of financial statements by assessors, monitoring control mechanisms from time to time. References Arens, A.A., Elder, R.J., Beasley, M.S. and Hogan, C.E., 2016.Auditing and assurance services. Pearson. Barton, H. and Bruder, N., 2014.A guide to local environmental auditing. Routledge. Beasley, M.S., 2015.Auditing cases: An interactive learning approach. Prentice Hall. Cannon, N. and Bedard, J.C., 2016. Auditing challenging fair value measurements: Evidence from the field.The Accounting Review. DeFond, M. and Zhang, J., 2014. A review of archival auditing research.Journal of Accounting and Economics,58(2), pp.275-326. Duncan, B. and Whittington, M., 2014, September. Compliance with standards, assurance and audit: Does this equal security?. InProceedings of the 7th International Conference on Security of Information and Networks(p. 77). ACM. Eilifsen, A., Messier, W.F., Glover, S.M. and Prawitt, D.F., 2013.Auditing and assurance services. McGraw-Hill. Hayes, R., Wallage, P. and Gortemaker, H., 2014.Principles of auditing: an introduction to international standards on auditing. Pearson Higher Ed. Knechel, W.R. and Salterio, S.E., 2016.Auditing: Assurance and risk. Taylor Francis. Louwers, T.J., Ramsay, R.J., Sinason, D.H., Strawser, J.R. and Thibodeau, J.C., 2015.Auditing assurance services. McGraw-Hill Education. Nalewaik, A. and Mills, A., 2016.Project Performance Review: Capturing the Value of Audit, Oversight, and Compliance for Project Success. CRC Press. William Jr, M., Glover, S. and Prawitt, D., 2016.Auditing and assurance services: A systematic approach. McGraw-Hill Education.