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The most vital limitation of the use of economic data accessible in yearly accounts from an investor’s issue of outlook is that this data is chronicled and the time gap between the time of announcing of the yearly report and buying into can give increase to matters which may sway the enterprise severely. The yearly report could encompass economic ratio investigation and competitors’ analysis.
Porter et al. were correct when they said the word ‘material’ is very important in auditing. However, managers and investors have no basis for assessing the effectiveness of the primary accuracy of reviewed accounts. This is understandable because auditors have a lot of adaptability in making materiality choices based on trained judgment.
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It is essential to note that Connor and Sehgal examined the intercepts of the multi-variate regression system to explain the cross-sections in mean returns. When the CAPM was used, it was found that all 3 stock portfolios gave positive intercepts. They were significant and lied in the 95% confidence level.
The basic reason is the limitation of the valuation process. It is difficult to assign historical costs to intangible like brand value and at the same time, it is difficult to ascertain its fair value in absence of a scientific method to ascertain the value of its future economic gains to the entity.
There are several factors to be considered while buying a new house. Most importantly, the natures of these factors are dynamic and constantly changing. So it is very important for the buyer to analyze each and every implication of the decision made and take the best decision so as to make a good investment (IOWA State University, 2008).
From the analysis of provided four cases, various sources of funding for different requirements have been determined. All the four cases were different therefore proposed procedure was also varying. Now, the overall analysis can be summarised in respect of cases. For purchasing any fixed assets for an existing company can be applied.
The directors and management of the company are responsible to maintain systems for record-keeping (Financial Services Regulatory Commission). The records usually include the entries of all accounting receipts and payments, sales and purchase of goods details, record of assets and liabilities of the company and annual stocktaking (Rikvin).
Generally speaking, it is quite essential to state that the Trust is structured as a unit trust, allowing for participation by all types of investors, including superannuation funds. It also means gearing benefits apply and, under current tax laws, the returns are generally untaxed before one receives them.
It can be observed that the right issue provides various advantages such as the option of targeting existing shareholders which enables an organization to do away with certain expenses. Lloyds could have also utilized preference shares and debentures options apart from using other equity shares such as bonus share and new issues to raise capital in their organization.
It is thus seen that BAE despite having been involved in some controversies has been a global market leader in its business and has provided a chain of services not only to companies but also to governments in their defense segments. It is believed that in future the company would soar greater heights in their efforts for providing state of the- art defense technology to their clients.
As the business is growing further and the technology is mounting, new intangible assets are being produced which are creating further questions regarding the accounting treatment of intangible assets. It can be concluded that the accounting for intangible assets will require more clarity so that the arguments of the accountants can be addressed.
Corporate governance remains difficult to perceive the issue for business students all over. Usually, it is mixed and confused with the issue of ethics. Ethical behavior is expected from everyone participating in the corporate governance process and inevitably from the directors and executives. Corporate governance basically is all about the characteristics of a governing process.
The current ratio is an indicator of a company’s liquidity position. It highlights whether the company is capable of meeting its short term obligations. The current ratio of J Sainsbury Plc for the years 2009 and 2008 is 0.54 and 0.61. This is lower than the current ratio of 0.78 of Tesco Plc, for the year 2009. Ideally, this ratio should be 2.
“Accounting is the collection and aggregation of information for decision-makers – including managers, investors, regulators, lenders, and the public” (Schempf, n.d.). The accounting system put an effect on the management behavior of an organization. Managerial accounting has effects across the departments, companies and even the countries.
The project appraisal techniques use ratios except for the net present value while cost-benefit techniques use purely absolute monetary value. The project appraisal techniques use the cash flows that are directly associated with the projects while the cost-benefit analysis uses both indirect and direct cash flows.
The disclosure should be made in writing only and for the independent accounting expert to accept the appointment; the parties who are touched by the conflict of interest must have allowed the expert to make the disclosure and also must have accepted the appointment of the independent accounting expert.
The main users of the lending sector are the investors and the borrowers in the financial market. The investors are actually the lenders in the market. By and large there are three types of investors in an economy. Firstly, the starters who prefer to get along with the crowd and do not involve themselves much in the speculation business.
Companies are under tremendous pressure from the public at large to be socially responsible as their actions. While there are no set standards available as of now to report issues related to these, some guidelines have been prepared by the Global Reporting Initiative (GRI). However, these are voluntary in nature and not mandatory for organizations.
The conclusions from the Baumol-Tobin model might be a very truthful one, with implications for real-life situations, but the problem is that the assumptions being made in this regard are oversimplified in nature. The worst problem with the model is that there is no room for any uncertainties in the approach, which is the most unrealistic of its kind.
Modern financial instruments have become increasingly complicated and mathematical modeling and analysis are being used for not only determining the present value of future earnings but also of the future value of today’s assets. The world of corporate finance which was once managed by business students is now controlled by mathematicians.
Islamic banking has gained increasing popularity in recent times because it has not been affected by the recent financial crash. Islamic banks have been demonstrating growth and exist side by side with U.K. banks. Islamic financial institutions are bound by Sharia law, which forbids the collection of interest or engaging in speculative activities.
It is generally considered that rules can help with clarity/comparability. But sometimes it happens that rules in existing standards come about because a standard is based on a poor principle or because it lacks principle. Hence experts argue that the use of a more suitable principle could diminish the need for arbitrary and detailed rules.
8 pages (2163 words)
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, Literature review
The banks were unconcerned about whether the solicitor had advised the wife in the prescribed manner. The aforementioned case law depicts this situation. Therefore, it can be concluded that the banks are chiefly interested in protecting their interests. In addition, it can be concluded that the solicitors work for the best interests of the bank and not the vulnerable party.
This can be done only if the information received by the decision-makers like Chancellor Brown will not be poor, lacking or far from the actual figures. One very good strategy is the United Kingdom's government to make most government transactions with its constituents and other nations transparent.
Most market analysts who can rightly predict the direction of monetary policies most often benefits a great deal on the market for bonds and securities. It can be seen that the effects of decisions of the CB do also affect consumption and savings from individuals, the value of the currency and the value of the based goods sold on the international market.
Writing a report for employers setting out the factors that need to be taken into account in determining its current financial/commercial status. The report includes a table setting out how the determination of different factors will affect the financial status of the project. Stating clearly the additional information still required.
8 pages (2280 words)
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, Literature review
It is quite important to note that only a couple of authors Steve Kaplan and Antoinette Schoar, CalPERS Investments, and Jesse Reyes have used cash-based techniques such as IRR, and even amongst them Jessereyes has criticized the IRR technique and suggests that time-based models are best for such analysis.
International Accounting Standards Board is currently responsible for the development of global standards in accounting and financial disclosure activities. The job of IASB is to develop IFRS (International Financial Reporting Standards) for incorporated businesses. Under IASC (International Accounting Standards Committee) IFRS was called IAS (International Accounting Standards).
Operating margin is the most critical measure of assessing the profitability of the firm’s operations and measuring how profitable a firm’s operations are. This is critical because the net profit margin may provide misleading figures because of the inclusion of extraordinary or one-off items in income statement which can inflate the figures.
9 pages (8227 words)
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, Research Paper
The MPC is made up of nine members namely the Bank's Governor, the two Deputy Governors, the Chief Economist, the Executive Director for Market Operations and four external members appointed by the Chancellor of the Exchequer (Bank of England, 2012). The decisions on what rate to be announced are made on a majority vote. The committee also publishes a quarterly inflation report.
In most cases when an M&A plan is applied within the international market (or the local one) the increase of the shareholders’ value is set as a priority; however most commonly this increase is limited while other targets (like the expansion of a firm or firms (in case of merger) within its market) is primarily pursued by the managers that administer the whole project.
In general, it is quite essential to state that banking services are no longer restricted to regional geographic areas but are accessible internationally through the Internet. As a result, traditional bureaucratic frameworks which are cumbersome and foster delay in response to customers are not desirable.
Investment performance concurs with the instinctive risk status. Treasury bills have the least mean return value when they are compared with other types of investments in the shares and stocks of large companies. Since investors are indisposed towards risk they like to play safe by paying more for safety and earning less.
Though the financial pundits did not expect much, so far as the task of altering the dire straits of the banking industry was concerned, still much has changed in the last two years. It is a fact that a number of the leading global banks have reverted back to profitability and have paid or do intend to repay the so infamous government bailouts.
The mortgage is money borrowed as a loan from mortgage institutions to finance real property acquisition. It is usually paid back in specified periods, installments and interest rates. There are several factors that affect these mortgage interest rates in any given transaction and they vary from one financial institution to another.
The recent global competition compels the organizations to become more integrated, highly automated and flexible in order to reduce their cost and enhance productivity. It cannot be possible to sustain the competitiveness devoid of an accurate cost mechanism and thus here lies the necessity of cost accounting.
When businesses promote their efforts at improving the social condition or changing the environment, they often publicise these activities in some form of corporate reporting. Corporate social responsibility involves a business having integrity, “thought to be one who will likely be honest and truthful; be fair, comply with laws, promote community interests and show consistency”.
The draft Conceptual Framework for Financial Reporting issued by the International Accounting Standards Board or IASB in 2010 not only stated the same objective but also added that general purpose financial reports aid the users in making an assessment whether or not the entity’s management and its board “have made efficient and effective use of the resources provided”.
8 pages (2365 words)
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, Literature review
The art of progress is to preserve order amid change and to preserve change amid order. — Alfred North Whitehead. Since accounting is an art, J. R. Wambsganss and B Sanford discuss the diverse opinions on the accounting treatment of Pollution Allowances as assets in the balance sheet. Secondary resources are gathered to affirm or disprove the pollution allowance issue.
The following paper is of financial ratios are extracted from the financial statements of Reckitt and McBride and industry data to facilitate analysis in terms of profitability of the company. Based on the net profit margin for years 2006 and 2005 Reckitt had 0.05 and 0.16 as compared with McBride’s 0.03 and 0.04 for the same years respectively.
Barclays Bank Plc is one of the prominent global banks in the industry dealing in retail, commercial and Investment Banking. The group has a significant number of activities in several countries and enjoys a substantial asset base. The financial statement for the year ended December 2009 of Barclays Bank Plc has been prepared in accordance with the accounting framework of IFRS.
14 pages (3500 words)
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, Research Proposal
Though this study will be qualitative as well as quantitative in nature, however, the focus will be on determining the use of data warehousing for financial reporting purposes. In a sense, this study will attempt to provide new practical tools to the managers to monitor the performance of the firms in real-time situations.
Judging impairment is a subjective financial activity. Financial managers are at will to determine the level of impairment of fixed assets. In the same context, accounting standard-setting does require compromise to strike an agreement and it cannot protect itself from the direct threat of politicization. Financial managers use their personal financial understanding for the purpose of providing.
Labour Union litigation settlement costs, fuel consumption and unproductive staff and labour administrative costs, and ageing aircrafts maintenance costs, through tough budgetary controls, and effective variance analysis, could go a long way in serving the financial interests of the stakeholders of British Airways and reverse its financial fortunes in the years to come.
16 pages (4768 words)
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, Literature review
Risks must be tied to earning to price, cash flow to price and dividend to price in all of the three dimensions stated above: small vs. big stocks, value vs. growth stocks and market returns sensitivity. Those risks analysis are necessary for investors to make informed decisions that are hidden by the CAPM.
Weak form of efficiency outlines that the future behavior or future prices of the shares cannot be predicted with the help of observing past trends in the prices. As such past is not considered as the effective means of predicting the prices of the shares and any kind of technical analysis may not result in abnormal profits to be obtained by the investors.
The traditional ways of trading no longer reaped the expected returns for the business houses. The financial services companies all across the globe are largely affected by such paradigm shifts. The influential factors of globalization have turned the world to be a smaller place to live in. The revolution of the internet has significantly affected the ways of doing business for the banks.
After pondering upon the current situation that your charity faces, I concur to your apprehensions regarding 50% down payment to Vital Office Furniture Limited with which you are not much familiar with. It is, in fact, a good practice to be very vigilant when beginning a relationship with a new supplier.
When using this procedure, expenses may be allotted according to the specific class of commodities where that class can be linked to those expenses (Daems, 2005.p.63). For example, if 100 chairs were manufactured at a value of US$-5000, each chair will have a production value of $5000/100 to get $500 per chair.
The budget of the Essex Fire Authority for the year 2004-05 shows a gross expenditure of £66,023,000. Essex net expenditure touches £62,069,000 after deducting a specific transitional grant of £821,000 and an income of £3,133,000. Due to an increase of £2,100,000 as a contribution to general balance, Essex's budgetary needs have reached a total.