SAMPLE FORMAT FOR TASK 1 PART A
*Course Mentor Note on the interpretation/application of the Taskstream Instructions: According to the instructions in Taskstream, you may conclude the task is asking you to include 3 components for Part A of Task 1 which are:
1. Six of seven characteristics
2. Advantages and disadvantages for each business organization
3. Brief description for each business organization
Thus, regarding the format for Task 1 Part A for LIT1, the Bullet/Listing approach (mentioned in the Task 1 Instructions) is below, which basically is you’ll describe each characteristic in usually about 1-2 sentences then move on. Example of how to apply this format:
This new rule is of potentially great importance to publicly traded companies, software providers, and consulting firms.
In very basic terms, public companies are now required to be more deliberate about how things are done, especially if they potentially impact financial reporting. Companies must have a comprehensive framework for internal controls and document the effectiveness of its internal controls. A failure to address this new rule may result in the inability of auditors to certify the company’s financial reports. This means more risk assessment, process analysis, testing, documentation, and other record keeping.
IT departments in some public companies are well-financed, well-organized, and well-controlled. For those companies these new rules will likely require the documentation of procedures that already exist. For those IT departments who are not as blessed with command, control, communication and project management, this can mean a lot of additional work — maybe a new way of doing business.
Software companies should expect that they will start to see requirements related to this new rule in RFP’s. They should also expect requests for new warranties and other assurances in license and maintenance agreements. Quality control procedures, including test methodologies, may need to be examined in light of this new rule.
Many consulting firms may have new opportunities for serving their clients. Developing a core competency in relevant frameworks of internal controls, including the COSO framework, may result in additional business opportunities.
For additional information or if you have questions or concerns about this new rule, please feel free to contact:
Paul H. Smith
ADDITIONAL TIPS FOR LIT1 TASK 1
The information you are learning/using in this task is considered “common knowledge”, which means it is widely known. When you use widely known information you won’t have to cite and/or reference anything for this task so long as you take the info you read about and then restate it in your own words.
From my experience most students don’t cite/reference and just restate everything in their own words. If, however, you do directly quote something from the Forms of Business Org doc or Skillsoft or an online resource that doesn’t have a title, page number, author, etc. then you would cite it as a website. To find out how to do...