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Zero-Based Budgeting enforces all levels of management in an organization to become a part of the budgeting process. The adaptation of Zero-Based Budgeting in a government organization or even a private firm can make a significant difference to their resource allocation, despite a few negatives mentioned above.
The achievement of the above target can be more difficult in certain industries – where competition is stronger; an indicative example is the airline industry. Southwest Airlines is among the most powerful firms in the US Airline industry; in 2007 the firm’s profits were estimated to $9,861 (in millions) – a significant increase compared to the firm’s profits in 2003 – about $5,937 (in millions);
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Coordination failure can be described as the situation in which the bank is illiquid and solvent, but the market is incapable of resolving the difficulty. The difficulty can be temporary if it is resolved rapidly. This is because the credit counterparty limitations obstruct any single institution from doing the required lending and thus, the need for coordinated lending.
the inventory purchased at highest cost is first accounted for when the inventory is sold or issued. The profits of the company appear low, which could be beneficial if the company wants to reduce its tax payments. The cost of goods sold is based on the most recent purchase price and the cost of inventory is based on the earliest purchase price during the year.
The Financial Service Authority is the regulator of the UK’s financial services (Financial Services Authority, 2011). It lays down various rules and regulations regarding the operations in the stock market. There are strict regulations in UK stock markets. Saudi stock market is regulated by the Capital Market Authority.
The capital structure of the company is highly volatile. There are no long term strategic financial plans. Keeping these facts in view analysis is made of this financial strategy of the company making a comparative study of other firms in the industry.
The third activity pertains to developing in house talents which are often called “homegrown” players. Arsenal Holdings Plc operates in the same segment of football clubs but it also derives its major source of revenue from Real estate development. The Emirates Stadium has been at the heart of Arsenal Club and it is constantly investing money in the stadium to attract the soccer fans.
Economists, as well as policymakers, believe that a high rate of current account deficits does not necessarily call for concern (Ghosh & Ramakrishnan 2006, 44). This is primarily because a high current account deficit can be financed rather easily from flows of long term capital, which is, overall beneficial to the entire economy as a whole.
Goodall (2011) reports that the government has already admitted that the merger will have winners and losers even if the taxes and NICs are integrated partially. The government can be the most potential winner of such a move because this practice is better to cut down the costs of keeping two separate systems in order to manage taxes and benefits.
Singapore and Sydney competing with each other for the title of leading regional financial services hub. Australia has undergone a concerted push to show its capabilities in the financial sector to the world. Singapore is also reorganizing its regulatory and corporate environment to attract and retain the globe's financial giants. For a good operation of financial regulatory system independence, transparency, and integrity are necessary.
Probability, Price, and Preferences form the basis of a systematic approach to rational decision-making in an uncertain world and these three P’s are central to Total Risk Management: prices, in considering how much one must pay for hedging various risks; probabilities, for assessing the likelihood of those risks; and preferences, for deciding how much risk to bear and how much to hedge.
All agencies are agreed upon one fact that, a single factor authentication as the only controlling element is totally inadequate to protect information about the customer or to the movement of funds between two or more parties. If proper precautions are taken, systematic controls are established, diligent practices are followed and adequate provisions are made, then Online Banking is as safe as any other normal commercial venture.
The paper will try to point out the problems that are mostly generated from the different risk perceptions and how these risks can be evaluated effectively. The increasing importance of risk in corporate scenario is explained by putting forward a number of risk theories. This explanation will constitute the qualitative study of this report.
The IAS2 Inventories is a standard that has been developed with the objective of finding an accounting treatment for the inventories. The paper will also detail the measurement, presentation and disclosure details of the standard. A brief comparison of the standard has also been made with that of GAAP of US.
In the commercial world, guarantees are a commonly used phenomenon. These guarantees can range from the negotiated arrangements designed to help sales of services and products of a business and guarantees to bank loans as accommodations to business associates. The IFRS 4 was introduced in March 2004 mainly to regulate the insurance industry (Epstein et al 2008: 614).
The Easy Jet Airline Company, Ltd. is one of Europe’s largest low fare airlines, plying 387 routes between 104 European and North African airports. It holds an operating license permit from the United Kingdom Civil Aviation Authority to carry passengers, cargo and mail on aircraft with 20 or more seas.
The country has been proved as having the potentials for a high level of growth despite the extremely hostile global marketplace which ‘fights’ the development of its members especially when these belong to the ‘zone’ of ‘developing countries’. Towards this direction, the Bombay Exchange market should be considered as offering significant help to India’s financial development even under the pressure caused by the instability.
The BSE example shows that the introduction of innovative economic measures can help the development of a country’s economy in all its sectors. However, the control over the application of these measures in practice is necessary in order for any malpractices to be avoided. The existence of turbulences of course should be regarded as a normal phenomenon, however with the appropriate political and economic basis.
The strategy of differentiation emphasizes that firms need to create a competitive advantage of their own against their peer groups. They have to be able to service the customer with more valued products which are premium priced. The customer also needs to experience the superiority of the service they offer and that should be maintained if not improved further.
The main priorities of NFP entities in Australia can be defined in different aspects. The primary goal is to follow legal terms of operation and engagement. The next goal is to gather up funds and undertaking of plans. The next goal is in relation to the maintenance of the operation and characteristics as not-for-profit entities, thus, no sales can be undertaken.
The risk associated with such an investment is that of obsolescence. This may occur where such assets are no longer needed despite their being in good working order. This is due to the fact that new assets are frequently invented in IT and which come with more superior aspects and thus technical obsolescence in the virgin case is highly possible.
Dubai Islamic Bank plans to open up 10 new branches in 2009. It has offshore branches in Pakistan and the bank underwent a major rebranding exercise in 2006 where it adopted its new, easy to spot, green and yellow logo. The bank has therefore stayed with the mass as far as its IT spending is concerned, which is very competitive.
The degree and value of finance vary according to the size and nature of business. Financial statements are the reflection of these financial activities. Companies are mandated to provide it to their stakeholders so as to keep their operations transparent and measurable. Government authorities responsible for maintaining business ethics and compliance has framed strict guidelines regarding its execution.
According to the report of the fraud-consultant, Yardley initially opened an account at the Chatham and Dover Building Society but every two months he would draw a cheque worth £1 million pounds payable to an account in an offshore branch of the CDBS in Jersey. However, in two instances, Yardley drew from the said accounts.
The information provided through a firm’s cash flow statement can be used in order to evaluate the firm’s position in its market. In this case, it would be valuable for the relevant figures to be compared with the figures included in other financial statements of the firm, especially those of the profit and loss account statement.
Sending out questionnaires to a random sample in the UK will not give correct results keeping in mind the factors like response rate and the number of respondents. Hence if the numbers of respondents are not high enough the results obtained through this form of research will not be statistically significant.
Manchester Money Universal plc holds a 20% equity investment in Aytoun plc which was acquired through a share exchange transaction during the year 2002. Aytoun is a recognized name in the medium-sized supermarket chain industry and enjoys a considerable market share. The company is listed on the London Stock Exchange and has been classified as a small and medium-sized entity by the Securities and Exchange Commission.
The primary research objective is to find out the effect of the global financial crisis and its effect on the Islamic banking industry in the US. The Islamic finance industry has proved more resilient than the conventional banking industry and more stable. This relationship is a result of non risky investments and asset based financing. The concurrent results can demonstrate the relationship between less volatility of Islamic banks.
The third production line which is considered to have served its useful life needs to be evaluated for its value and recognition in the company’s machinery records. Also, it needs to be assessed for safety issues and other problem areas like cost of production and output. Machinery which is idle and placed outside needs to be assessed for its inclusion in fixed assets and depreciation amount charged.
This will help gain a clear idea of what the article’s main purpose, hypotheses, and findings are. This will be followed by a critical discussion of the findings and the limitations of the research. However, before moving into these aspects of the article, it is essential to view the importance of this article. The next section will deal with the importance of the article in the field of the study and the reasons for choosing this article.
In a bid to make ‘pension’ an important savings instrument the government has raised the Annual Allowance to £255000 from the fiscal year 2010/11. The employers’ contribution towards personal or company pension schemes will lower the amount of taxable business profits as these contributions will be allowed as a tax deductible expense. This is good from the viewpoint of the employees as well as it lowers their burden of tax bill.
A budget is defined as an itemized summary of estimated or intended expenditures for a given period along with proposals for financing them (Yahoo, 2007). Budgeting is an accounting mechanism that serves the purpose of a control device that helps the organization plan the future utilization of economic resources.
Despite limitations, technical analysis is a useful technique for anticipating and projecting price and volume values for financial assets. It can assist market players in whether to hold on, buy, and sell assets that can be helpful in promoting affluence and prosperity. Technical analysis can also be used as an indicator of the economy's health based on price and resistance levels of markets.
This report will chiefly focus on the contribution of various entities to the capital market. The historical performances of their activities will also be figured out. Since the last decades, significant changes have been registered in the Australian capital market which makes it increasingly important to examine the evolution of the modern regulations and rules. This will help to generate qualitative findings.
As the marketing, production, and organization plans, the financial plan is an important part of the business. Financial planning determines the potential investment commitment needed for a new business. There is also better management of selling expenses. This is a positive effect of better financial planning.
A budget possesses different definitions depending on the user. For an accountant, a budget is “a summary statement of plans expressed in quantitative terms; it guides individuals or an accounting entity in reaching financial or operational goals.”
Price wars depend upon the market structure which could be an oligopoly, highly fragmented, or growth-oriented. While some believe that early entry can give the firm an edge over competitors as it would mean monopoly and locking-in the customers, others contend that aggressive strategies can also lead to increasing returns.
Ratio Analysis is an important tool to convert the financial statements of companies into common statements and to assess the performance of the company over a period of years. This allows us to see the financial trend of a company. This also allows us to look at various aspects of the company, such as Profitability, Liquidity, Financial Leverage and how well is it carrying out its operations.
For all the theories formulated and models structured to attempt to explain the movement of market prices, there is no consistently accurate formula for it. Similarly, no rational observation would constantly apply to the way investors behave in the course of the daily activities in the financial markets.
As regards the international tax problems created by electronic commerce, OECD also has its views on trading through e-commerce. Due to electronic commerce, a person can carry on business with any country or in any country without being a resident of that country. OECD has stressed on effective management in this context.
The Audit methodology would involve planning of checklist of samples to be collected, on-site sampling, physical visits, verification of papers & electronic records, and interviewing. If the auditors detect serious risks, they would be included in the scope detailing the nature & extent and request for an increase of Man-days shall be put forward.
Study elaborates adequately about the recent action of Australian Government regarding giving the guarantee to the deposits, its advantages and some disadvantages. Since the time of Adam Smith, market economies have evolved enormously. Advance capitalist economies, such as the United States, Western Europe and Japan have three distinguishing features: Trade and specialization, money and capital.
The preceding chapter provided the problem and its background to situate the topic of research and provide appropriate direction for the research design. Pursuit of the research problem and questions are qualified by the existing literature on the topic of valuation, risk assessment, and failure forecasting.
In the process, cost-effective innovative measures may be introduced in the process such as the employment of modern technology in handling projects and project costs. Costing methods are of fundamental importance since a better method put in place supports the estimation of project costs that is the basic component towards the generation of cost budgets. Cost budgets are important for planning as a function of any formal organization.
From the evaluation, it is evident that the adoption of IPSAS and other modern commercial stands by central governments will increase accountability and transparency in the public sector thereby helping to ensure public sector reforms. Moreover, their adoption will appeal to investors and the public and enhance the process of decision making within the government. However, this transformation is not a one-off event.
These assumptions help analysts and researchers evaluate their field of data, statistics, and draw certain almost predictable evaluations. There can be many conditions differing from situation to situation which could justify the use of a quantitative model. Generally, in most cases, there are certain three distinct states that can generally require the usage of a quantitative model.
Obama’s tax policies are more equitable and fairer in my opinion but they still do not go far enough to encourage growth to lead America into the future in this current changing economic environment. McCain’s proposals simply went in the wrong direction because it entailed much less revenue for the government.
The accounting standard setters for both the United States and the United Kingdom have always implied that the stakeholders are the ones who should actually benefit from standards. However, both standard setters fell short “of giving a definition linked to the public interest” due in part to the changing definition of the ‘true and fair view’ phrase.
The main problem of the corporation is no standard to measure the efficiency of each department on a monthly basis. As explained by the consultant, though the sales budget, operation budget and the marketing expanse budget all are correctly planned, still the company failed to achieve its sales and profit target. This indicates that the plans were not well executed due to a lack of coordination among different departments.
The above quote of the study indicates that the changes in the deposit rates by the UK banks are relatively rigid indicating that the banks are too strict in their dealing with depositors while setting the deposit rates. However, the rate-setting on loan products is relatively more synchronized as large banks tend to have relatively more manipulate power.