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This is because it causes increased application of common procedures and familiar trends as many executives would like to maintain such pay by not involving in high-risk projects which are potentially beneficial but untested. The executive remuneration process is also arguably affected by financial crises as they promote low-profit margins.
It is worth noting that the increased expenditure of countries arising from the exponential population growth strains government coffers. To finance its operations, the government needs to collect revenue through taxation. It has however been realized that there exist some concepts surrounding tax imposition and collection that tend to make it difficult to effectively collect the taxes.
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This method is appropriate because the use of the machine for more than 20,000 hours makes it useless and a new machine will have to be purchased. An analysis of whether the new proposal would or would not allow machine hours to be used as the basis for depreciation to the questions for respondents is contained on page 5 of the exposure draft.
Segregation of duties is whereby an individual is assigned a certain task partially, and another individual or individuals are assigned the remaining part of the task. This is a common internal control procedure. An employee who makes cash deposits to the bank should be different from the one who accepts cash payments from customers.
This paper shall provide an overview of the type of business ownership they will opt for, the kind of accounting information system they will select, the set of individuals for whom their financial statements shall be important, and lastly the constraints to which they will be subjected to in case of financial reporting.
According to the report every organization computerised their accounting system that reduced the work time considerably. Today almost every Multi National Company relies on Accounting Information system and telecommunicating of accounting information for running the business successfully and reaching clients all over the world.
For this topic, I chose ACM Shipping Group, PLC since it is a large company that has worldwide operations. Necessarily, the company also needs large capital to fund its numerous investments. ACM is a publicly registered company in UK that started operations in 1982.
Being one of the biggest insurance companies in the world, Prudential Insurance Company has various resources that play a critical role in its operations to ensure that the provision of financial services is done to high standards. In addition, we find that the company had both intangible and tangible resources that facilitate its delivery of the services to its esteemed customers who were the targets.
The impact of IT in terms of cost and effectiveness on the auditing procedures has been analyzed. This research has extensively analyzed the computer-aided auditing tools, the rules of auditing in the UK and Kurdistan, the impact of these tools in different levels of auditing, the compatibility of the auditors with these new technologies and the usage of these tools in the United Kingdom and Kurdistan.
The financial crisis facing America in the 2008 financial year posed the greatest economical threat that the American society had witnessed in a long time. The disaster came unexpectedly and renowned financial institutions experienced massive losses. In the years preceding the financial crisis, Americans had bestowed a high level of trust in the leading banking institutions.
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The author states that Goldman Sachs defrauded investors by failing to reveal the apparent conflict of interest on mortgage investment it floated as the housing market became sour. The charges that were brought forward by the Securities Exchange Commission argued for fraud in the trading of toxic subprime mortgage derivative securities.
Interpretation of Accounts Introduction Absolute raw data about the company such as revenue generated, profit earned, total capital employed or total debt involved cannot provide any meaningful information unless they are converted in the form that can help make necessary decisions.
Margate plc operates in the leisure industry in the South-East of England. The company has expanded rapidly in recent years mainly by the acquisition of other businesses. The wet weather in the summer of 2012 has affected sales. High Dean plc is considering making a substantial, long-term investment in Margate plc.
Accountancy is not a profession Introduction Accounting or accountancy is the procedure that is used for conveying necessary business information to various users (Elliot and Elliot, 2004). This communication takes place mainly in the form of financial statements, which show the economic resources that are controlled by a firm’s management.
The weakening society has put additional pressure on small businesses and the other hand banks are not confident enough to finance any new venture or small business. This study would be on, the effect of the financial crisis on small enterprises, other modes of financing other than bank loans, and capturing the point of view of the various participants.
There are some scholars who have recognized various aspects which enable the company to create and execute a capacity to modify. Moreover, issues in leadership and responsiveness to external changes are very vital aspects for adopting a common understanding of the realistic and probable organizational environment.
The author states that the introduction phase of the new gaming console must involve costs related to Research and Development of the new design and features. These costs may be high but since the overall life and profitability of the new console depend on research and planning, there is a need to incur them with special attention.
The other structural reforms facilitated by the International Monetary Fund in South Korea included the usual: “trade liberalization, capital account liberalization, reform of corporate governance, corporate structure, and the labor market, and the provision of information on foreign exchange reserves and other financial data” (Lim 4).
The basic activities of the company include manufacturing and marketing of mobile communication, media devices, PCs and digital music players together with a variety of software and services (Apple Inc, 2012). Ratios Interpretation Profitability Profitability has improved in 2012 as compared to previous two years.
. The government has the authority to alter the plans in the budget. The United Kingdom pre-budget reports have increasingly been used to announce any alterations in the spending plans. This essay seeks to critically analyze the success of the British government in using spending review in the execution of government strategies.
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The impact of the financial crises seems to have gone past the imagination of leaders of foremost economies. The administrations of various countries have taken and continue to adopt unseen, significant actions, but we need to watch and wait for the results. Moreover, real estate investment is an essential contributor to household welfare, urban development, and the growth of an economy.
WealthWise involved in offering insurance and investment services to customers since 1986. The company was floated by J. Dai, who initiated the business with the intention of contributing to society through social work, and not just profit maximization. WealthWise offers retirement plans, investment options, Aged care services, insurance facilities, and superannuation services to its customers.
The main mission of a budget is to allocate resources within an organization, while enabling stakeholder participation (NACSLB 3). However, different budgeting methods perform different functions, such as goal implementation and efficiency (NACSLB 3). There are four general types of budgeting approaches, such as line – item, performance, program, and zero – based budgeting (Tyer & Willand).
The capital and revenue expenditure divide has been a major topic of discussion among business people, tax advisors, and judges for quite a long time. There is no simple test that can help decide on the issue in all the circumstances. At times, various judicial judgments lead to conflicting conclusions, too.
A concise definition was provided by Gapenski (2008), who stated that the budget is the detailed plan, expressed in dollar terms that specify how resources will be used within a period of time. When a health organization's budget pertains to the plan that includes activities, expenses, costs, resources and revenues within a specific period of time, it is called the operational budget.
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The German people were apprehensive at the beginning of losing the stable DM and acquiring a currency that had high inflation rates. This skepticism has gradually disappeared, and the currency has come to be viewed as stable. The financial crisis of 2008, however, led to a questioning of the stability of the Euro as a stable monetary system.
The evidence may as well constitute warning signals for the US to restructure its economic policies in favor of the swift implementation of ambitious strategies for proper debt reduction. The fear of fiscal consolidation measures due to their unpopular nature with the voters only serves to undermine growth prospects in the long run with an additional burden on fiscal sustainability.
There are many factors affecting the business in the education sector. One of the most important factor is financial factor since the university is not fully supported by the funding council grants. The total income in the year is 2010-2011 is £74 million of which £34 was the grant received.
There are many approaches used by economists and financial analysts to gauge the efficiency in which forms are utilizing their resources to generate income. Some assumes that performance of the firm is determined by industry in which it operate while others believe that performance of a firm is specific to its own internal factors (Lecture 4, 2012).
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One of the major department of the organization which indeed is the most critical one when it comes to the business ethics is the accounting and finance department. Not only most of the ethics are breached in this department but it is also one of the most sensitive ones (Fieser, 2013).
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.
Tesco plc is one of the largest retailers across the globe having more than 2300 supermarkets and convenience stores. Tesco launched its e-commerce business in the year 2000. In the year company added a new clothing brand to its UK stores. The revenues surged up to 6% which is the highest increase in the last five years which was due to the acquisition of Homeplus in South Korea.
It further looks at the benefits of issuing bonds and financial leverage over other sources of finance. The financial statements of the company are also examined and thereafter conclusions and recommendations arrived at.
The fundamental aspects were the losers and winners, same treatment to all stakeholders, the divergence of interest amongst the shareholders, the quality of the management in both firms, the obligatory strategy and values to operate the BAE and EADs including the accountability of the managers among others (Suder, 2011; p. 353).
Invesco criticized the proposed deal citing poor terms, state interference, and a lack of strategic underlying principles. The problems that BAE has raised include the share buyback program, possible deviation from its generous dividend payout as well as the doubts imposed by inviting German and French stakeholders to the deal.
There are many observations on the balance sheet. The liquidity position has deteriorated since last year. There is no cash balance available at the end of the year 2012. Investment in non-liquid assets such as inventory and prepayments has increased together with the investment in receivables since last year.
It is commonly believed that good managers make good leaders or a leader requires managerial skills in order to become an effective leader. Certain people believe that the concepts of management and leadership are different from each other; others are of the belief that these two terms are similar and are used interchangeably.
Undoubtedly, small business sectors, better known to be the Small and Medium Enterprises (SMEs), have gained immense significance as key contributors to overall economic growth. As stated in the report published by OECD in 2004, “These firms typically account for more than 90% of all firms outside the agricultural sector, constitute a major source of employment and generate significant domestic and export earnings”.
There must be checks and balances that will mean that this approach will not be exclusively adopted by organizations. Management of corporate organizations should therefore analyze their industry situation, organizational goals, and the operational environment to be able to come up with prudent governance structures for the success of organizations as well as the satisfaction of all interested parties.
Many economists consider the financial crisis also known as the sub-prime crisis that shocked the world in the year 2007-08 to be one of the worst crises of all time. The United States of America was the epicenter of this crisis. The sub-prime crisis caused many key businesses to close down and equity markets all around the world recorded a tremendous decrease in their respective indices.
It contains the financial statements and economic activities that the company undertook in the preceding year. Annual report is intended for its various stakeholders who have a stake and interest in the performance of the company particularly the shareholder’s who have invested in the company.
The model is based on the notion that not all risks should affect asset prices. Specifically, a risk that can be diversified away when held along with other investments in a portfolio is, in a very real way, not a risk at all (Perold, 2004, 8). Therefore, when investors are faced with a decision on which stock top invest in, they want to know how the stock will contribute to the risk and expected return of their portfolios.
Conflict of interest applies to different kinds of circumstances and behaviour and so various professions have laid down guidelines in relation to this as well as their corporate social responsibility (CSR). Conflict of interest affects the ethical practices and corporate social responsibility (CSR) of underwriters in a number of ways.
Conflict of interest that is apparent among different departments in investment banking results to some dreadfully and severe consequences such as increased cases of market manipulation that risk business activities and operations. For instance, in United Kingdom investment banking sector, different underwriters have a conflicting interest over whether to facilitate effective communication between the Chinese banks and United Kingdom banks.
Managements’ functions within an organization are planning, controlling, leading, arranging, staffing and decision making. Management accounting practices and records for a company are designed and operated in a way to help managers perform their functions easily.
This framework is mainly used by organizations whose business is mainly based on services rendered rather than tangible goods and products (Chen, 2009). It is mainly based on strategic management and views the provision of services as an industrial process subject to the same optimization procedures that are utilized in the manufacturing and selling of tangible goods.
Participants in foreign exchange markets include institutional investors, central banks, and global financiers such as the World Bank, financial institutions, corporations, speculators, and governments. Simply put, the forex market finances international trade. Due to the increased level of global trade, the foreign exchange, market has grown since as early as 1980 to the present.
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Reference can be made, for example, to financial reporting; the specific task cannot be developed without the support of appropriate market research. Moreover, it has been proved that financial information and information content of earnings has the power to affect the investors’ decision-making process.
Question 1 By upholding ethics in their auditing exercise, I think independent certified public accountants can maintain an independent audit engagement even if their fees are paid by the entity. By adopting the aspect of objectivity, that excludes prejudice, compromise and bias, auditors gives fair view of the company financial position.
Fuel hedging is a strategy practiced in the airline industry to stabilize the budget and offset risks involved in changing prices. Fuel hedging can result in benefits and/or downsides relative to the budget of airlines. Fuel hedging does not ensure absolute positive results for all firms and in all circumstances.