Matching Items (16)
Description
#VanLife is a long-time, up and coming lifestyle movement on social media centered around the process of leaving the traditional nine-to-five work week for a life on the road in a camper van. While the ‘hippie-esque’ vagabond lifestyle has its humble roots long before the turn of the century, the inception of social media platforms such as Instagram and Pinterest have fueled the more recent popularization of a full-time life on the road. #VanLifers often freelance on the road, work part time jobs, or gain sponsorships to help fund their traveling and humble lifestyle.
As the #VanLife craze continues to grow, new businesses are finding ways to meet the demand in the market. For #Vanlifers who own and operate their own camper vans, specialized companies like GoWesty, Vanagain, and Boxeer offer a full range of parts, upgrades, and custom mechanical and systems conversion kits to keep these vans on the road as OE manufacturers discontinue production on these parts. For those who have an itch to try out the #VanLife for a shorter period and without the financial commitment, companies like Roamerica, TontoTrails, and adventureRIGS offer nightly and weekly rental opportunities on fully-outfitted campervans ready to hit the road.
For my Honors Project I wrote a complete analysis on the history, development, and modernization of the #VanLife movement. With plans to take to the road for an extended period of time after graduation, I also developed a complete financial plan for a one-year #VanLife experience. The financial plan includes a comprehensive set of budgets that scrutinize the start-up an operational costs of the #VanLife and associated travel.
As the #VanLife craze continues to grow, new businesses are finding ways to meet the demand in the market. For #Vanlifers who own and operate their own camper vans, specialized companies like GoWesty, Vanagain, and Boxeer offer a full range of parts, upgrades, and custom mechanical and systems conversion kits to keep these vans on the road as OE manufacturers discontinue production on these parts. For those who have an itch to try out the #VanLife for a shorter period and without the financial commitment, companies like Roamerica, TontoTrails, and adventureRIGS offer nightly and weekly rental opportunities on fully-outfitted campervans ready to hit the road.
For my Honors Project I wrote a complete analysis on the history, development, and modernization of the #VanLife movement. With plans to take to the road for an extended period of time after graduation, I also developed a complete financial plan for a one-year #VanLife experience. The financial plan includes a comprehensive set of budgets that scrutinize the start-up an operational costs of the #VanLife and associated travel.
ContributorsRischitelli, Noah Gary (Author) / Garverick, Michael (Thesis director) / Dawson, Gregory (Committee member) / WPC Graduate Programs (Contributor) / School of Accountancy (Contributor) / Department of Finance (Contributor) / Barrett, The Honors College (Contributor)
Created2018-05
Description
This case study analyzed the internal controls of a real estate company using the widely accepted COSO framework. Testing of the internal environment and controls was completed using the COSO framework. The major internal control problem identified in the study was a lack of ethical standards in the control environment. In addition to this main problem, inadequate documentation, no separation of duties, and unqualified employees were also identified as violations of effective internal controls. The department of real estate ordered a "cease and desist" on August 8, 2013 due to illegal company activities. The company participated in illegal actions regarding: the trust account and company documentation and procedures. Material weaknesses were found in the company's internal controls; therefore the result of this study was an adverse opinion on internal controls.
ContributorsFrederick, Nicole Lorraine (Author) / Munshi, Perseus (Thesis director) / Benali, Kayla (Committee member) / Barrett, The Honors College (Contributor) / School of Accountancy (Contributor) / Department of Psychology (Contributor)
Created2013-12
Description
The main goal of this study was to understand the awareness of small business owners regarding occupational fraud, meaning fraud committed from within an organization. A survey/questionnaire was used to gather insight into the knowledge and perceptions of small business owners, while also obtaining information about the history of fraud and the internal controls within their business. Twenty-four owners of businesses with less than 100 employees participated in the study. The results suggest that small business owners overestimate their knowledge regarding internal controls and occupational fraud, while also underestimating the risk of fraud within their own business. In fact, 92% of participants were not at all familiar with the popular Internal Control \u2014 Integrated Framework published by the Committee of Sponsoring Organizations of the Treadway Commission. The results also show that small business owners tend to overestimate the protection provided by their currently implemented controls in regard to their risk of fraud. Overall, through continued knowledge of internal controls and occupational fraud, business owners can better protect their businesses from the risk of occupational fraud by increasing their awareness of fraud.
ContributorsDennis, Lauren Nicole (Author) / Orpurt, Steven (Thesis director) / Munshi, Perseus (Committee member) / Barrett, The Honors College (Contributor) / Department of Information Systems (Contributor) / School of Accountancy (Contributor)
Created2014-05
Description
Cognitive technology has been at the forefront of the minds of many technology, government, and business leaders, because of its potential to completely revolutionize their fields. Furthermore, individuals in financial statement auditor roles are especially focused on the impact of cognitive technology because of its potential to eliminate many of the tedious, repetitive tasks involved in their profession. Adopting new technologies that can autonomously collect more data from a broader range of sources, turn the data into business intelligence, and even make decisions based on that data begs the question of whether human roles in accounting will be completely replaced. A partial answer: If the ramifications of past technological advances are any indicator, cognitive technology will replace some human audit operations and grow some new and higher order roles for humans. It will shift the focus of accounting professionals to more complex judgment and analysis.
The next question: What do these changes in the roles and responsibilities look like for the auditors of the future? Cognitive technology will assuredly present new issues for which humans will have to find solutions.
• How will humans be able to test the accuracy and completeness of the decisions derived by cognitive systems?
• If cognitive computing systems rely on supervised learning, what is the most effective way to train systems?
• How will cognitive computing fair in an industry that experiences ever-changing industry regulations?
• Will cognitive technology enhance the quality of audits?
In order to answer these questions and many more, I plan on examining how cognitive technologies evolved into their use today. Based on this historic trajectory, stakeholder interviews, and industry research, I will forecast what auditing jobs may look like in the near future taking into account rapid advances in cognitive computing.
The conclusions forecast a future in auditing that is much more accurate, timely, and pleasant. Cognitive technologies allow auditors to test entire populations of transactions, to tackle audit issues on a more continuous basis, to alleviate the overload of work that occurs after fiscal year-end, and to focus on client interaction.
The next question: What do these changes in the roles and responsibilities look like for the auditors of the future? Cognitive technology will assuredly present new issues for which humans will have to find solutions.
• How will humans be able to test the accuracy and completeness of the decisions derived by cognitive systems?
• If cognitive computing systems rely on supervised learning, what is the most effective way to train systems?
• How will cognitive computing fair in an industry that experiences ever-changing industry regulations?
• Will cognitive technology enhance the quality of audits?
In order to answer these questions and many more, I plan on examining how cognitive technologies evolved into their use today. Based on this historic trajectory, stakeholder interviews, and industry research, I will forecast what auditing jobs may look like in the near future taking into account rapid advances in cognitive computing.
The conclusions forecast a future in auditing that is much more accurate, timely, and pleasant. Cognitive technologies allow auditors to test entire populations of transactions, to tackle audit issues on a more continuous basis, to alleviate the overload of work that occurs after fiscal year-end, and to focus on client interaction.
ContributorsWitkop, David (Author) / Dawson, Gregory (Thesis director) / Munshi, Perseus (Committee member) / School of Accountancy (Contributor) / Department of Information Systems (Contributor) / Barrett, The Honors College (Contributor)
Created2018-05
Description
The direction of artificial intelligence is one of the most important and popular topics of technological development. Both experts and the average person agree AI will continue to play a massive role in virtually all industries. Despite this shared belief, AI has continued to progress at a limited rate, limited by conventional schools of thought and mathematical approaches. In order for truly intelligent technology to exist, one must succeed in modeling the human brain as a system, not its functionalities. Conventional AI attempts to account for all the variables and permutations of a given situation rather than creating a closed system that can implicitly utilize data to form completely unique conclusions without human intervention. By bridging the gap between mathematics, biology, and neurology, Igni will become the world's first hyper intelligent artificial intelligence system. In order to understand Igni, one must first understand the progression of conventional AI and its limitations. Then they can understanding the major components of Igni and how this technology overcomes conventional limitations in its journey to revolutionize most industries.
ContributorsYu, Vince Winghang (Co-author) / Patel, Ishan (Co-author) / Dawson, Gregory (Thesis director) / Garverick, Michael (Committee member) / Department of Finance (Contributor) / School of Accountancy (Contributor) / Barrett, The Honors College (Contributor)
Created2018-12
Description
Within this paper I summarize the key features, and results, of research conducted to support the development, design, and implementation of an internal control system at a startup small business. These efforts were conducted for an Honors Thesis/Creative Project for Barrett, the Honors College at Arizona State University. The research revolved around deciding which financial policies, procedures, and safeguards could be useful in creating an internal control system for small businesses. In addition to academic research, I developed an “Internal Control Questionnaire” for use as a ‘jumping off point’ in conversations about a business’ existing accounting system. This questionnaire is applicable across many industries, covering the major topics which every small business/startup should consider.
The questionnaire was then used in conjunction with two interviews of small business owners. The interviews covered both the overall financial status of their business and their business’ pre-existing accounting system. The feedback received during these interviews was subsequently used to provide the business owners with eleven recommendations ranging from the implementation of new policies to verification of existing internal controls.
Finally, I summarize my findings, both academic and real-world, conveying that many small business owners do not implement formal internal control systems. I also discuss why the business owners, in this specific circumstance, did not yet implement the aforementioned eleven suggestions.
The questionnaire was then used in conjunction with two interviews of small business owners. The interviews covered both the overall financial status of their business and their business’ pre-existing accounting system. The feedback received during these interviews was subsequently used to provide the business owners with eleven recommendations ranging from the implementation of new policies to verification of existing internal controls.
Finally, I summarize my findings, both academic and real-world, conveying that many small business owners do not implement formal internal control systems. I also discuss why the business owners, in this specific circumstance, did not yet implement the aforementioned eleven suggestions.
ContributorsDuncan, Spencer James (Author) / Garverick, Michael (Thesis director) / Casas Arce, Pablo (Committee member) / School of Accountancy (Contributor) / School of International Letters and Cultures (Contributor) / Barrett, The Honors College (Contributor)
Created2019-05
Description
Blockchain is a sophisticated and complex technology that will have a massive impact on the public accounting industry. Currently there is concern surrounding how blockchain may impact the industry as a whole. Auditors and accountants are worried that this technology has the potential to replace the responsibilities they fulfill. However, blockchain technology will not replace accountants and will enhance their daily activities by eliminating menial tasks, providing increased transparency, and allowing time to be spent in areas that require more consideration. This will change the role of accountants and professionals, requiring them to be more technologically proficient and analytically minded. This paper is organized as follows. There will be an initial explanation of the technology to inform the reader of what blockchain is and how it works. Then there will be a discussion regarding how blockchain technology relates to, and can be utilized by, public accounting firms as well as the implications of blockchain on the public accounting industry. These implications will be discussed followed by why they are extraneous, and how to combat them in both the assurance and advisory practices. In conclusion, recommendations will be provided for public accounting firms on how to effectively utilize the technology to their benefit.
ContributorsLomsdalen, Stephen A (Co-author) / Charen, Stephanie (Co-author) / Samuelson, Melissa (Thesis director) / Garverick, Michael (Committee member) / School of Accountancy (Contributor) / WPC Graduate Programs (Contributor) / Barrett, The Honors College (Contributor)
Created2018-12
Description
The purpose of the present study is to examine how the Sales and Operation Plan (S&OP) process can be improved in the manufacturing industry by using a cost model to evaluate changes in the manufacturing forecast in addition to reviewing past financial performance. The additional use of a cost model transitions form using a standard traditional S&OP process to dynamic modeling and scenario analysis that may lead to different decisions being made. The manufacturing company S&OP processes in scope of this project is suspected to not be using a cost model when making financial decisions but rather the traditional S&OP process. They do not have a rolling budget in place, but rather a static budget also known as an Annual Operating Plan.
ContributorsSeiki, Kaila (Author) / Licon, Wendell (Thesis director) / Garverick, Michael (Committee member) / Department of Finance (Contributor) / Department of Information Systems (Contributor, Contributor) / Barrett, The Honors College (Contributor)
Created2018-12
Description
The purpose of this thesis is to examine the factors leading to the valuations of professional sports teams, with a focus on three of the largest professional sports by revenue: soccer, baseball, and basketball. The main goal of this report is to analyze historical growth rates in the total price paid for professional sports teams and the value-added activities that lead to increased sales prices well above the Forbes yearly valuation. Additionally, we will incorporate statistical analysis and data sets highlighting different approaches and valuation tactics used when determining a proper sales price for a team that can be incorporated in future research and provide a basis for explaining the high price many are willing to pay to acquire a sports franchise.
ContributorsProietti, David Anthony (Co-author) / Frei, Sebastian (Co-author) / Goegan, Brian (Thesis director) / Garverick, Michael (Committee member) / School of Accountancy (Contributor) / Barrett, The Honors College (Contributor)
Created2018-05
Description
The competitive nature of business requires managers to consistently work towards eliminating unnecessary costs and improving financial management. Worldwide, fraud remains a pervasive and expensive problem for businesses. Fraud involving misappropriation of assets (commonly referred to as embezzlement) and fraudulent financial reporting cost organizations trillions of dollars worldwide. To better understand the most effective ways of combating misappropriation and to a lesser extent, fraudulent financial reporting, this paper evaluates research and reports the results of expert interviews with accountants, forensic experts, and security specialists.
ContributorsMurnane, George (Author) / Munshi, Perseus (Thesis director) / Pany, Kurt (Committee member) / School of Accountancy (Contributor) / WPC Graduate Programs (Contributor) / Department of Finance (Contributor) / Barrett, The Honors College (Contributor)
Created2016-05