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It is essential to identify whether the project has to be financially justifiable and if the addition of the new product to the range creates higher levels of revenues and profits to the company. Investment appraisal techniques are applied to the project in order to estimate the returns from the project.
Accounting treatment of intangibles have evolved through the years, whether under GAAP or IFRS. The treatment of intangibles have important implications for how revenues and expenses are presented and it also opens the issue of possible manipulation of income statements in attempts to manage the earnings and thus deceive investors and other stakeholders.
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Many opportunities exist for Tesco, one of them being the improvement of customer relationships. This customer relationship can be improved by encouraging the customer to make greener decisions. This way the company can enhance its image and be recognized as an environmentally friendly company.
It is important to have in mind that the findings of CAPM are valuable only under standardized market conditions – where the distance between the ideal market and the current market is not too long; otherwise, i.e. in markets that suffer from severe turbulences the findings of CAPM would not help to estimate the performance of investment – even at an average level.
The questions that often rise out of the public eye are those that stress the desire to know what advantage insider trading has economically, for it has thus far caused the public to feel unfair treatment. Consequently, as a moral decision the unfairness of insider trading in the public eye is, henceforth, unethical and should be illegal.
Islamic “shariah - code of conduct” is based on Muslim’s Holy Book “Quran” and the sayings and traditions of the Prophet Mohammed, which preaches brotherhood and mutual interest in order to establish “just and equitable social order” in the society. Takaful insurance was introduced to minimize the risk by mutual agreement.
There was a variance with the sales units for Product A. Product A was slated to sell 27500 units and make £690,000 which is a sales price of £25.09/unit. The actual number of units sold was 29000 and the total revenue was £720,000 which is a sales price of £24.83. The price difference causes a loss of revenue equal to £727,610.
AASB 138 prescribes that an intangible asset item meets the strict definition and recognition criteria. It prescribes that the nature of intangible assets is such that, there are no additions or replacements of part of it. This results in subsequent expenditures which maintain the expected future economic benefits from an existing intangible asset.
The authors in their efforts to illustrate the importance of an effective development process for introducing new systems into SMEs; a case study on the development of TQM in SMEs was studied (Ghobadian and Gallear, 1997). This case study highlighted the critical issues when developing a new system within an SME.
The globalized financial system fuelled the vulnerabilities of economies to the Global Financial Crisis. Hong Kong’s trade performance was negatively influenced by the crisis and between 2007 and 2009, exports of the country declined significantly. The banking sector of the economy was also hit by the financial crisis and because of the significant contribution of Hong Kong’s banking sector to GDP, the overall economy also faced major shocks.
Inflation has to be present in an economy for it to grow however, it needs to be controlled and closely monitored and has to be addressed to while designing a monetary or fiscal policy for a country or preparing a financial budgeting policy for an organization or a country.
The bailout of AIG made news because it was the highest recipient of the Federal funds that were made available under the TARP or the Troubled Assets Relief Plan that was passed by the Federal government. The point of contention in bailing out AIG was that it was too big to fail and hence needed all the support that the Federal Government could extend.
The mindset of the employee influences their productivity. With the tool, employees feel more appreciated and entrusted. They, therefore, take such opportunities to learn leadership and management roles besides the obvious motivation. This way, the organization benefits increased efficiency and sustained operations.
Overall, globalization has many benefits, because it represents free trade being chosen over domestic protectionism, which can lead to negative results. Only in a few countries (10 out of 34) did the majority of people consider globalisation a positive factor for local economic development.
There would be shortage of credit money in the economy resulting in decreased demand which would in turn lead to unemployment as firms would cut their supply. Individuals have a moral responsibility to try to pay their mortgages on time. If judging the option of strategic default purely on moral or ethical grounds then it is surely wrong to knowingly gobble up other people’s owed amount and hence should be avoided at all costs.
Public sector budgeting requires strict compliance while it is not mandatory to follow the budget recommendations line by line in the private sector. The private sector company’s success is always measured in terms of cash profit, while the public sector organizations' success is always measured based on performance (Corbett et al, 1996).
There are a lot of studies conducted with regard to investment in a foreign subsidiary and most of the research point out that political and economic steadiness are essential circumstances to pull indirect investment from abroad. Country risks and environmental risks are other vital factors to be considered while making an investment in a foreign subsidiary. Country risk actually takes place in in the form of sovereignty risk or transfer risk.
Since there isn’t yet any actual and immense harm for implementing a single currency, it is not impracticable for UK to try and be one with the other European countries who have joined the euro trend. After all, all of them belong to the same continent, Europe. Whatever benefits they could get will ultimately help all the European countries.
The keyword that describes the external auditor is the independence of work and the unbiased and transparency of reports. The internal auditors are recruited by the companies. But the external auditors have much more responsibly on their shoulders to reveal the truth and facts of the firm (Singh, 2007, p. 154-155).
In general, private equities are defined as “equity securities of companies that have not ‘gone public’ … generally illiquid and thought of as a long-term investment” (Private Equity, 2007). Despite this seemingly restrictive definition, the industry has managed to return profits at much higher rates than firms operating in the public sphere while holding onto companies for sometimes only a span of a few years.
This caused banks to face a difficult time after customers failed to repay their loans. The expectations of house owners dwindled, and many of them had to turn to other means of earning income as the houses were unable to fetch anything substantial as anticipated.
The global economy has seen one of its toughest periods during the recent financial crisis. It’s been more than two years and the world economy is yet to completely recover from this turmoil. Unlike some of the previous crises this one is more global in nature and as a result of that effects of it are more significant. It has greatly impacted the operational models of multinational corporations.
To interpret information present in financial statements of various companies, analysts employ fundamental accounting concepts, which help them to form uniform assumptions while comparing performances among different companies. Therefore, in order to properly analyze and interpret financial statements, it is important to understand the meaning and implication of key accounting concepts.
Another component of the audit risk is that of the control risk. This is the risk that material misstatements, i.e. fraud and errors, will not be detected, prevented, and removed on an appropriate basis with the help of the internal controls. This risk also approaches the risk of weak internal control and needs extra attention from the auditors' point of view.
The currency board arrangement is defined. The costs and benefits of Hong Kong’s currency board system since 1983 is investigated before finally concluding. ‘Currency board arrangement is a special case of a rules-based monetary system. It is a system based on rules rather than discretion that serves to establish credibility.
For the UK government, the takeover resulted in the creation of employment opportunities, improving living standards, technological skills acquisition, increased government revenue, and improvement in the skills levels of the population. Tax revenues increase due to materials importation, finished product exportation, and workers’ employment.
The G4+1 (US, Australia, New Zealand, and the UK) have called for the amendment of rules for effecting in these countries. We will study the balance sheet of two companies Leighton Ltd and Clough Ltd in the light of this paper.
The auditor should determine whether all related-party transactions were adequately recorded then disclosed to the auditing party. Unusual sales terms that may be fraudulent or insubstantial in nature usually arise from related-party transactions therefore, the auditor should examine the veracity of sales transactions between both companies especially during the near end of the reporting period.
There are three different approaches to a study in this regard. These are qualitative, quantitative, and mixed-method studies. The quantitative aspect of the research only discovers and explores the numerical proof and data available on the topic. Qualitative research on the other only depends on data gathered from observations, surveys, and non-empirical sources.
Many positive effects of FDI on employment in Uganda have been discussed. The negative effects of FDI on employment such as child labor and low paid jobs that do not require skills have not been left out. Data gathered through secondary research during the course of this research is found to be less reliable in gauging the effects of FDI on employment in Uganda and needs to be validated against quantitative and qualitative information.
As such, one acknowledges the business to open and the corresponding accounts. Furthermore, entrepreneurial income is identifiable in its accounts thus determining the success of the venture. Bank account equally allows an individual to comprehend market dynamics. Indeed, bank accounts allow entrepreneurs to comprehend the income statements thus making it simple to rank their financial performance.
The share capital, donations, bank loans, assets are some of the items which may form a part of this director’s report. The directors’ report will also include future plans of either going public or if already a public company the share allocation plans would be discussed. Apart from the director’s report notes to accounts will be provided at the end which will support the financial statements (BERR, 2009).
Therefore, statutory audits play a very crucial role by giving an opinion on whether the audited entities’ financial reports are true and fair, thereby, facilitating informed decision- making of the users of such an opinion. Also, it is evident in the analysis that there is an expectation gap and it is necessary to manage this gap. As noted by Alvarado, this gap can be managed through creation of awareness to stakeholders about limitations.
In fact, lending under the particular terms (i.e. subprime lending) can have many forms around the world in accordance with the financial structure of each particular market and the rules used for the regulation of financial transactions in each state. However, it would be necessary to notice that subprime lending is not used by all consumers worldwide; it is rather preferred by specific categories of the population.
The entrance of China into the World Trade Organization (WTO) introduces cheap foreign capital and technology, but a large scale and sudden capital flows and foreign speculation significantly increase the likelihood of a twin crisis. At the moment, the rapid increase in China’s foreign exchange reserves suggests that there is a large amount of speculative money in China in anticipation of an appreciation of the RMB.
The P/E ratio has decreased. This is due to the fact that M&S is an established company and its growth potential has been decreasing. But the book value per share has been increasing which is good on the side of the company. The market price is relatively lower times the book value although the return on equity is high.
When it is evident from such analysis and also from the investigation of other factors and information that the business of borrower will remain a going concern that can easily service the costs and principal repayments of loans, then the only lender should decide in favor of lending. Otherwise, the lender should shy away from the proposal.
it becomes clear that a company need not borrow as much as it can unless it is really warranted. There should be a judicious mix of debt and equity in the capital structure so that in times of emergency, the reserves of equity will come to the company’s rescue. Without deviating from the first principles of corporate finance, a company can borrow instead resorting to equity in the interests of the existing shareholders.
Section 201 of the Act clearly sets forth specifications to eliminate this type of occurrence. This aspect represents one of the strongest provisions of the Act in that it overrode “…the long-standing objections of the accounting industry to the creation of an independent regulatory body that would set standards and discipline auditors”.
The significant factor about total market demand is that it varies according to market conditions. Because of this, it can be called the market demand function or response function. Sales Phasing and % Mix Information and Calculation of Mixes for 2006, Forecast mix for 2007, and Proposed Sales and mix for 2008.
Generally, more profitable investments will be less liquid and a balance has to be achieved. Another important decision is about financing the various departments of the firm. Both are targeted at ensuring the overall satisfaction of the company's shareholders.
Even though it has its roots in the Asian financial crisis of 1997, the market turmoil was mainly created as cheap loans were given without background verification as the concentration was on quantity rather than n quality. Secondly, as the loans were passed on to financial institutions, the banks did not carry risks.
Increases in cost for Marketing are very high and require detailed review to identify whether there have been omissions in budgeting and also to identify individual items that have contributed towards high costs. All other areas with the exception of Personnel have also to be investigated for drawing conclusions.
The comment that auditors are not independent is not unfounded. In recent past independence of auditors has faced the wrath of various governing and other regulatory authorities. The professional independence of auditors has been held responsible for many major corporate collapses and financial debacles very recently.
The development of BITs does not lead to the limitation of their powers within the international community; all their principles (including the principle of ‘fair and equitable treatment’) continue to offer to foreign investors specific benefits and protection under the terms that the requirements of BITs are met.
Later on, as all the FDI increased the exchange rates of Korea and Taiwan as well they too stopped being FDI favorites in the early nineties. The Japanese firms were now faced with the dilemma of shifting their FDI’s back into ASEAN countries to avail the advantages of low-cost labor. The same happened to the ASEAN countries eventually and their exchange rates increased as well. Now Japan chose China for its large consumer market and low wages.
It is argued that financial intermediation is the process which allows the process of investment and savings to take place. Financial intermediaries are firms who borrow from those who want to save and lend the same to those who want funding to finance themselves. (Winton, 2002). However, the role played by banks has greatly increased their overall importance in modern economies.
Whereas the methods based on discounted cash flows provide a more objective basis for evaluating and selecting investment projects. These methods take into account both magnitude and timings of expected cash flows in each period of the project’s life. “The discounted cash flow methods offer a valuation based on future earning capacity and recent financial performance.
While some of the relationships between NPV, IRR, and cash-flow timing seem intuitive--indeed, they are discussed in popular introductory textbooks--until now a precise mathematical link has not been established. Nor has there been adequate formal development of the role of duration in explaining ranking conflicts between projects.
To arrive at a proper investment decision in the present analysis, considering the various factors discussed in detail, although the volatility of the shares of Barclays Bank is slightly higher than that of HSBC and the current dividend level is lower, it is strongly recommended that the investor can buy the shares of BARCLAYS having higher expected returns and projected earnings growth rate coupled with the long term dividend growth rate.