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Why? Be specific in identifying benefits and possible drawbacks to the proposed solutions. Yes, it has been proved that Activity Based costing has been a useful and workable alternative to the traditional volume based costing methods. The basic alternative solution proposed for the case study is definitely a good starting point for agricultural enterprises like John and Mary’s farm or cooperative or crop sharing ventures.
Justify your evaluation based on the information provided. [350 words] Business risks identified in the memorandum seem to be potential problems, but that is just the tip of the proverbial iceberg of the problems that are wrong with this company. First of all, the salaries for the people at the two top levels are Tony Lockett and Peter Roos.
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Eugene Fama conducted the strong-form tests to know whether the investors had any monopolistic access to the information relevant to the security’s price (Fama, 1970, p.383).
Introduction The first cities in Europe were Athens and Rome. Athens was perceived to be too expansive for the Greeks of the ancient world. At 432 BC, the population of Athens reached 250,000 residents. Rome was considered a giant city in the fourth century.
Overemphasis on the importance of Direct Labour: The fact that direct labour has lost its importance in modern manufacturing and is a small proportion of the total factory costs, makes the standard costing irrelevant because most of the overhead costs are allocated to the cost centres on the basis of direct labour hours.
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, Literature review
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The executives may be faced with dismissal following an action they undertook where the interests of the shareholders are not met. In the banking industry, therefore, this relationship in governance may be quite complicated in the sense that regulatory oversight is very likely to compromise the alignment of incentives.
The original content was compromising in issues of objectivity of financial statements; reporting entity; qualitative context of financial information; elements, recognition, measurement and presentation of financial statements; and on the accounts of interest from other entities.
Dividends are defined as a form of profit sharing by corporations with its investors. The dividend payout decisions rest primarily on the decision that should the earning be retained for future growth of the firm or to payout dividend to the shareholders. Dividends can be paid either in cash or through stocks themselves.
JP Morgan Chase & Co. deals in asset management, private banking, investment banking services related to treasury and securities, and even commercial banking. It generally concentrates on building up innovative strategies to meet the requirements of its client’s daily and future needs. Recently, JP Morgan Chase & Co. suffered a “significant” loss.
Organizational sustainability reporting, which could cover the economic, environmental, and social aspects of business operations is critical for companies for several reasons. The most important of which is how it serves the need of various stakeholders in and out of the organization, affected by its operations and activities.
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The authors go on to discuss the instances where the line between legitimacy and fraud might be crossed in earnings management, which is also a discussion of the continuum between legitimacy and fraud. Since management of forecasts is an important part of forecasts, some accountants sometimes fail to distinguish between the legal and fraudulent.
(Weygandt, Kimmel and Kieso, 2009). Manufacturing overheads can include costs like: i. Indirect material, ii. Indirect labor, iii. Electricity, gas and water bills etc for the operation of factory equipment during production, iv. Cleaning, repair and maintenance of machinery and equipment used during production, v.
Experts believe that the reason why some of these challenges exist is because the various financial environments of health entities and facilities have not been properly allocated; and in cases where the allocation have been done, not much have been done to maximize the potentials of these financial environments (Tombak, 2012).
In today’s environment where huge acceleration is a trend in the field of investments, the finance managers need to invest in stocks whose value will increase in the future, especially those which will increase considerably more compared to others. The term market efficiency explains the relationship between movements in the share price and the availability of information in the capital markets.
Nonprofit organizations have several ways of raising funds and they utilize debt as a secondary resource when compared to profit organizations that leverage through the usage of debt and most of them now consider it the primary source of raising funds. Accounting treatment for both the types differ and there is a certain degree of restriction is the usage of assets by the nonprofits.
A popular definition of the European sovereign debt crisis is that it is a situation in which several European countries face a risk of a breakdown in their financial institutions. deterioration of the problem of their large government debts, and the condition of bond yields rapidly shooting up (Investopedia 2012).
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Clean Energy’s Board of Directors has set high standards for the employees because employee efficiency is considered one of the key provisions of the company’s corporate governance strategy. In addition, the Board of Directors must ‘serve as a prudent fiduciary for shareholders’ (Corporate governance).
it is practically not possible to control some forces that operate outside a business, such as availability of capital and the world economic conditions, management need to inspire and guide internal operations in helping ensure a secure competitive position within the marketplace. Moreover, both innovation and adaptability are essential in helping gain market share and stay profitable in the event of fluctuating economic climates.
The fraud was done in two ways. First, WorldCom underreported expenses incurred that instead of reporting them as cost on the balance sheet, it was instead capitalized. Second, WorldCom bloated its revenue by reporting revenues from bogus revenue accounts making it appear that the company is profitable when it is not.
Company Background Dell Inc. is one of the leading companies in the computer industry. The firm was founded by Michael Dell in 1984. The firm grew rapidly by implementing a revolutionary supply chain system that eliminated the distributor by selling directly to the customer.
The sole aim of government contracting is usually to acquire services and goods and to undertake construction in a manner that promotes competition, access and fairness, and good results. Therefore for a company that wants to be awarded government tenders or contracts, it has to undertake to follow the policy guidelines.
Most managerial accountants have excellent quantitative capabilities. A tool that allows managerial accountants to determine the amount of sales that are needed to cover all variable and fixed expenses of the company is the breakeven point. The formula to calculate the breakeven point in terms of units is fixed expenses divided by unit contribution margin.
The origin of the financial crisis was rooted in the situation in which the mortgage loans defaulted and the debt instruments backed by such loans failed (Mizen, 2008). As an ultimate effect of the crisis financial markets in the US were disrupted along with which the financial markets of Europe and other countries were also adversely affected.
This discussion talks that in recent years, economies around the globe have been facing frequent mergers, alliances, and acquisitions due to rapidly changing needs of customers and markets. These activities usually, are functions of long-term corporate strategy, need for diversification or expansion or merely some legal contractual obligations.
Strategic management accounting refers to a business practice that focuses on external factors and nonfinancial information as well as information within the organization. In the above connection, strategic management accounting presents numerous benefits in organizational decision-making.
Proper management is paramount to the success of any organisation whether it is a public or private organisation. The management practices and principles employed differ from one organisation to another depending on their nature and the purpose of establishment. As suggested by Rodriguez and Hickson (1995), there are notable differences between the management of for-profit entities and non-profit entities.
Financial instruments, revenue recognition and lease accounting forms key among the accounting areas that the boards seek to address. If this initiative sails through then it will certainly have remarkable impact on the way companies account for most of their transactions.
A statutory auditor is a certified external auditor who has the statutory obligation to certify the accountability of the firm’s financial statements in accordance with professional auditing standards (European Commission 2011). In order to ensure stakeholder confidence regarding the transparency of the auditing process, it is necessary to promote the independence of statutory auditors.
The US Federal Reserve indicated that the programmed quantitative easing of purchasing $85 billion is not going to be carried out. Quantitative easing is used to stimulate the price when the corresponding interest rate decreases to 0%. The non-execution of the quantitative easing is set to correct the equity market.
Preparation of a balanced portfolio using broad market index funds is one of the most effective and simplest ways to prosper and diversify over the long term. The main underlying objective of an asset manager in offering a balanced portfolio to his clients is to increase the return from the investment made by the investor when all the elements of a portfolio is providing same risk or is to select a portfolio which would yield minimum risk when the return generated from the portfolio is constant.
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Although the market value of US companies have been reduced after economic recession but the investment by the foreign individual as well as institutional investors in US companies have not been reduced much due to the favourable rules, policies and tax implications of the country.
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Wealth Management in China (Discussion Report)
The paper provides an overview of the financial system of China from a cross country relative perspective. The paper reviews the potential wealth management business within China which is rising. Wealth Management refers to a perspective in which the country takes initiatives for the development and enhancement of the wealth of the country.
Sole trading is the simplest form of any business structure. It is easy and less expensive to maintain the business of sole trading. Most of the sole traders continue their businesses in their name and others choose for registering their business names. In the case of sole trading, there remains no distinction between the business and personal assets.
Effective and accurate forecasting of exchange rate fluctuations is a fundamental problem in international financial decisions. Exchange rate forecasting is necessary to evaluate the foreign-denominated cash flows involved in international transactions. It is important to analyze the risks attached to international business environments.
The concerned parties believe that the only way forward as far as the national debt is concerned is to raise the debt ceiling. The IMF and World Bank leaders believe that failure by the US to review its debt ceiling would adversely affect the world economy. This is because the United States economy is a key influence on the world economy especially because it is the largest economy in the world.
Risk management also encompasses determining the responses for those risks and constantly monitoring the progress. This is a proactive approach since it does not wait for the risks to occur before an action decision is implemented but rather predicts, quantify and acts in advance.
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, Personal Statement
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I would like to thank you sincerely for considering my application at UNIVERSITY and hope you will find me a sensible and valuable addition to your university environment. I would be very proud to be a part of your campus and would never cease seeking personal and professional growth throughout my tenure with your organization,
In this respect, a popular model designed by Sharpe (1964) and Lintner (1965) had explained this relationship as Capital asset Pricing Model (CAPM). The main idea of this model involves only one risk factor, the excess market portfolio return. In this model, the variation in the excess portfolio return is explained by the covariance of the market portfolio return with the portfolio return.
However, off late, the company has been suffering an image crisis due to its weakened customer service. The company chief, Michael O’Leary has admitted that they had been running like lunatics for the past 20 years and it is time that they change their modes. The company shareholders had been complaining about the airline’s image and share prices have faced a slowdown.
Objectivity A professional accountant should approach his duties with no bias. He should be free from conflict of interest and should not be subdued by undue influence of others when making professional business judgments. In the case, resisting the influence of the managing director to counter-sign the already signed checks would demonstrate objectivity.
It is the risk of occurrence of any misstatements of certain transactions which can prove to be material in the financial statements. It can also be present either individually or in aggregated form with other types of transactions. The internal control system of an organization is unable to either prevent or detect such misstatements.
There is also importance in noting that the costs associated with obtaining the two also reflect the relative risks for obtaining them. Therefore, a company that acquires the two at high costs has higher risks compared to one that obtains them at lower costs.
Here, the analyst compares the current item on the statement with the corresponding item on the previous year’s statement. The comparison is carried out using the actual values or percentage changes from year to year. The first step in a horizontal analysis is finding out the difference in the quantities comparing it with the base year.
The supply of leather in 1989 was very stable with a forecast of 3% growth for 1990. The demand for leather apparel products in 1989 was expected to reach a market growth of 3.5% and in 1990 the forecasted growth was 4%. G-III between 1985 and 1989 achieved a compounded growth rate of 68% (Yale).
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Accounting Theory Introduction Positive Accounting Theory Political Cost Hypothesis Small Businesses Role of Banks in Development of Small Businesses Federal Governments and Small Businesses Conclusion Accounting Theory \Introduction The theory of Positive Accounting seeks to make relevant accounting transactions based on the predictions of real world situations and occurrences.
Since America is so intensive it its quest to practice the Adam Smith’s depiction of Capitalism, the labor force correlates with the condition of the economy. Smith’s theory that propagated dependence of individualism that oozed out of the nation at this time period.
Corporate governance also describes how company management, board, stakeholders, and shareholders relate to each other so that conflict of interest is mitigated. The developments in the corporate governance of the UK companies have led to influential changes which have stimulated similar amendments in the corporate governance of the EU.
The author states that as a result, the positive performance of some investments will rule out the not so positive or negative performance of the other investments. The benefits from the process of diversification can only be accrued if the securities within the portfolio are perfectly uncorrelated.
In a Balanced Scorecard system performance is measured on the basis of four perspectives, namely, financial, customers, learning and development, and internal business process perspectives. It contains both the target scores and the scores achieved based on the given category. So it becomes easy to measure high as well as low performances.
The common room is to provide social work area for the students when they are not in class. This plan intends to redevelop the already existing vacant room in the university. This will make a better common room where student of Manchester University can spend their time and relax.