finance departments are the best place to train future CEOs?
The finance department is one of the best places to train future CEOs. This is because the experience that they will receive will have an impact on their ability to deal with a host of challenges. At the same time, they are learning how to effectively work with others and coordinate with various departments. The combination of these factors is providing CEOs with: the ability to adjust and address a host of challenges that are impacting the firm. Once this takes place, is the point that everyone is willing to go the extra mile in helping the firm to be successful in achieving its larger organizational objectives. (Nolop, 2012, pp. 3 -- 21)
Provide two actual examples of CFOs of publicly-traded companies who became CEOs of publicly-traded companies within the past 5 years. Do these individuals have the CPA and/or…… [Read More]
Managerial Decision Making
Finance department always plays a dominating role in the long run productivity in an organization and hence the reasons why the organizations strive try to strengthen this strategic function (Andrew, 2009). Organizations primary objective is to increase the level of surplus by taking effective strategies and mitigating the expenses.
There are numerous challenges which the organizations face during its day-to-day operations but to combat with those challenges are the actual bravery of the organization (Andrew, 2009). During the operations, an organization faces number of challenges like financial challenge, capital challenges, economical challenges, and political challenges (Bish, 2005). Appropriate strategies and tactics are more than necessary to cope up with these challenges comprehensively (Brown & Kate, 2001). For this piece of work, we have to perform the risk analysis of a chosen company. While doing this assignment, one has to consider it as an expert consultant in multinational…… [Read More]
Moreover, many firms do not groom their CFOs to one day take the top position, wary of just such limitations.
In many industries, CFOs are not suited to the CEO role, because their skills do not reflect the key competitive advantages of the firm. However, in many cases the CFO is in the best position to drive shareholder value, and their skills in evaluating and structuring mergers and acquisitions can prove invaluable.
2) 1. The present value of 5700 one year from now at 3.6% interest is $5,501.93. The present value of 8900 two years from now at 3.6% interest is $8,294.14. The combined present value of these two accounts is $13.796.07.
2. At a 5% discount rate, the NPVs of the cash flows are: Year 1 $43.809m; Year 2 $67.120m; Year 3 $57.877m for a total of $168.806m. At a 12% discount rate the NPVs of these flows are:…… [Read More]
Introduction and Company Overview
Apple is an integrated designer and marketer of consumer electronics. The company’s products include computers, smartphones, tablets, wearables, as well as the software that powers these devices. Apple is based in California, but contracts out manufacturing to third parties, typically in China. It runs physical retail stores, and online stores, in dozens of countries around the world. The global nature of Apple’s business presents significant challenges for the finance department. In recent years, the company has been so profitable that it had massive cash holdings. These have typically been either returned to shareholders via dividends, and or invested in short-term securities, both of which provide more work for finance. This paper will serve as an introduction to the finance function within Apple.
Finance Touches Everything
In most companies, and Apple is no exception, the Finance department operates as its own team, but it serves all of…… [Read More]
Do you think finance departments are the best place to train future CEOs? Provide two actual examples of CFOs of publicly-traded companies who became CEOs of publicly-traded companies within the past 5 years. Do these individuals have the CPA and/or CFA designations?
The reason why the finance departments are such a good place to train CEOs is they are teaching them about: how effectively controlling costs are a major part of an organization's success. When they are running a major corporation this will help them to create strategies that will support the long-term viability of the business. This is the key in being able to increase the earnings and the stock price.
Two examples of CFOs who were promoted to run publically traded companies over the last five years include: Indra Nooyi and Carl Carlisle. In the case Indra Nooyi, she was promoted to the CEO position of…… [Read More]
These are federal stimulus funds for policing programs that are community oriented. As these programs has already awarded $1 billion in ARRA funds. (2010).
If the Lowell Police Department is able to receive ARRA funding from the COPS program, additional layoffs can be averted, while building a rapport with the community. Many lessons became evident, when we were undergoing the painstaking cuts for the police department. One lesson that could be the most valuable is: understanding the community and its needs. Therefore, all of the City of Lowell's departments appreciate the camaraderie established through the process of budgetary cuts. As they are working together to: provide as many services as possible to benefit the community. Once this takes place, it means that the government is more efficient and responsive to the needs of the people.
While cutting any budget is an experience: a department head, staff, and the community never…… [Read More]
Department of Finance is the lead agency supporting the Government's key economic and financial policy outcomes through the provision of advice and coordination of resource allocation for Government programs. It also provides financial services to the Government and the community, covering asset and liability management, collection of state taxes and insurance and superannuating administration. The organization is made up of a diverse group dedicated people with a wide range of skills, including accounting, finance, economics, business service, insurance, superannuating and management.
The Finance Department is comprised of three divisions:
Finance Administration Division
This division is responsible for the overall direction and policy implementation. It is also responsible for coordination of the Finance Department, which includes:
a) Budgeting and Accounting
Finance is responsible for the preparation, implementation and monitoring of the City's Operating, Utility and Capital budgets. The focus is to administer these processes to meet the needs of the community,…… [Read More]
There is no evidence yet that federal involvement in the education system has improved outputs, which would be a prerequisite for efficiency. Part of this problem is data deficiency -- it is simply too early to tell if students reared under NCLB are more competitive because the first wave have barely left school, if they have left at all.
ith respect to Liberty, certainly federal involvement in education funding has constricted liberty. Even a small amount of federal funding can result in a strong federal influence on policy (Shelley, 2007). This influence on the system contributes to the erosion of state control. hile the states control the curriculum de jure, they are subject to varying degrees of influence from the federal government, depending on their dependence on Title I financing.
US Department of Education website. Retrieved April 24, 2009 from http://www.ed.gov/about/offices/list/ous/international/usnei/us/edlite-org-us.html
No author (2007). Congress to eigh 'No…… [Read More]
It was also very interesting to note that many large suppliers may actually step in to help their troubled client. Again, this makes sense, especially if the client is a long-term business partner doing a major amount of business with the company. Saving a company actually makes sound financial sense in these cases, and uniting with a group of company creditors is also a good idea. It seems that for the most part, when a company runs into financial difficulties, if they are a viable and respectable company, there are resources available to help them regain their footing and continue business. This shows how important it is to always have excellent relationships with customers, no matter what business you engage in.
Brownstein, Howard and Edward Gavin. "When Bad Things Happen to Good Customers." Business Credit, June 2003, retrieved from ProQuest…… [Read More]
The Steps that Can be Taken to Address Financial and Reimbursement Issues
The most effective way for controlling costs, is to find out where specific waste and misuse of funds is occurring. This will help administrators to identify those areas where there is a lack of accountability and ineffective controls. Once this occurs, you would then begin seeking out specific recommendations from the different department heads about: how they can control costs and increase productivity. This will allow us to determine specific tactics that can be utilized on the divisional level to effectively control costs. (Santerre, 2010. pp. 416- 432)
The next step is to seek out other sources of outside financing (such as grants). These can be used to help modernize the facility and provide funding for new programs that are in demand. This will allow the hospital to be able to finance and expand the different services that…… [Read More]
One batch takes 20 hours to make and produces 400L of ice cream. Sales last year totaled 50,000,000 liters of ice cream and the plant was working at full capacity. Therefore, the plant's capacity in working hours is:
50,000,000 / 400 = 125,000 batches * 20 hours per batch = 2.5 million machine hours. That is 285 machines in the plant, each working 24 hours per day.
Fixed manufacturing costs are $3,000,000 in total. The plant produces 50,000,000 liters of ice cream last year. Thus costs are 3,000,000 / 50,000,000 = $0.06 per liter of ice cream.
Variable factory overhead is $1,000,000 for the plant, or one-third of the fixed manufacturing overhead. This means that the variable factory overhead is going to be $0.02 for every liter of ice cream.
Based on the costs of inputs, the total cost of a liter of ice cream is as follows:
A2015893…… [Read More]
Discuss some of the motivations firms have for setting up production facilities in other countries. Will the effect on the host country differ depending upon the motivation? Explain. Will the effect on the source country differ depending upon the motivation? Explain. What relationship might trade barriers (or the lack of trade barriers) have in determining a company's primary motivation for producing abroad?
The reasons for the foreign investment are high profit returns, and the rate of return is dependent upon the capital invested, the tax reductions and employees' fund. The foreign investment or production company is highly welcomed by the government because the company is expected to bring in foreign exchange. THz enhances the purchasing power of the country in international currency; thereby the nation has to rely minimum on loans and international borrowing.
The major motivation that the international investor has towards foreign investment is that cheap labor…… [Read More]
These insights are equally applicable to forecasting how global events will potentially impact the United States and its trading partners. The same techniques used for anticipating terrorism threats can use used for anticipating conditions of genocide and political upheaval, even in countries that appear to be economically and politically stable (Goldsmith, utcher, Semenovich, Sowmy (2012), et.al.). The DHS has also had to architect it systems that overcome bureaucratic inertia and protecting bureaucracy instead of flattening it (Larson (2004), pp. 29). Having had to streamline not just their own structure but the integration points with many other departments and divisions also shows how unique their cross-functional structure is (Mitchell (2003), p. 18). Using the lessons learned of organizational structure efficiencies and dynamics of cross-functional performance in more expanded areas could solve the impasse on budgeting within the broader U.S. government as well. There is also the potential to combine…… [Read More]
Department of Defense Analysis of Parrott's The usiness Of War
It has come my attention that superiors at the Department of Defense (DOD) have requested my input on the historical role of played by private defense contractors, and the following report is intended to provide a synthesis of the work published by perhaps the most respected and recognized sources on this subject. Dr. David Parrott is the author of the seminal treatise on private military contracting throughout history -- titled The usiness of War: Military Enterprise and Military Revolution in Early Modern Europe -- and by adapting his thorough and comprehensive research on the influence of military enterprisers, mercenaries, and other segments of the private defense contracting industry, the DOD can formulate a more informed strategic foundation with which to shape future policy. As Parrott's writing style and logical construction can often be extremely obscure, the following biographical account and…… [Read More]
Finance & Management
The acid test, or quick, ratio adjusts current assets by removing less liquid assets, primarily inventories. It is expressed as coverage of so many times and is used to calculate working capital as the excess of current assets over current liabilities. By subtracting the inventories, or less liquid assets, it adjusts the assets to calculate for a truer working capital picture.
The current ratio measures short-term solvency, the extent current assets are sufficient to cover current liabilities. This ratio relates total current liabilities to cash, marketable securities, and receivables. If the current ratio is less than 1 and a competitor in the same industry is higher than 1, it shows that the company is carrying less inventory than its industry counterparts.
The inventory turnover ratio measures the liquidity of the inventory by calculating the number of times on average a company sells the inventory during…… [Read More]
An investor choosing between two different companies must undertake several steps in order to determine the best investment. In addition to understanding the industry of the company from a strategic perspective, a thorough financial analysis should be conducted. The strategic analysis will help to understand the underlying trends of the financial assessment. The financial analysis should include a ratio analysis, and should focus on the key areas of liquidity, solvency, leverage and profitability. In addition, the performance of the company's equity should be analyzed, particularly in relation to the company's financial performance. This will help to determine if the current share price is good value. This report will analyze two different companies -- Marks & Spencer and Tullow Oil -- using these criteria. There will also be a brief corporate social reporting analysis.
Marks & Spencer Overview
M&S is a department store retailer based in the UK, but operating…… [Read More]
Target's chart, however, shows that the company has tracked the market and GDP fairly closely, indicating that perhaps it does not trade the way a discount retailer should.
Johnson & Johnson
JNJ is a pharmaceutical and consumer products company. It competes in pharmaceuticals, consumer products in the health and beauty segment and in medical devices. The company was founded in 1886 and today is a multinational conglomerate with operations in 57 countries and with approximately 250 subsidiaries.
To a certain extent, JNJ's product line is price inelastic. Pharmaceutical demand is tied to overall consumer demand and the state of the economy, but not to the same extent that many other consumer products are. As a result, JNJ would be expected to have less significant swings in its stock price relative to the GDP, other macroeconomic indicators, or the Dow Jones. The stock, however, has traded roughly in line with the…… [Read More]
Subway Finance and Info Systems
The practice of finance and accounting is a very important component within the context of business operations. As the global economy continues its tepid pace of expansion, cost controls are now paramount to company success. Managing inventory, sales, loss, and other financial aspects are critical to the success of any franchise. Subway is no different in this regard as the company must content with intense price competition along with a consumer with less discretionary income. Throughout the course of my interviews, I acquired knowledge as to how many owner account and control costs. I also gained insights as to how these owners utilize information technology in an effort to forecast future demand while also eliminating inefficient behavior on the part of associates. Through these subsequent conversations, I was better able to garner a better understanding of the finance department. I was also better able to…… [Read More]
Security Finance & Payback
A strong effective information security program consists of many layers that create a "defense in depth" (Spontak, 2006). The objectives of information security is to make any unauthorized, unwanted access extremely difficult, easily detected, and well documented. Components of strong defense include firewalls, virus filters, intrusion detection, monitoring, and usage policies. Some businesses are missing the business culture, policies and procedures, separation of duties, and security awareness.
The Finance Department is critical to the security of the information system. Financial executives can set the tone, encourage compliance with security policies, and lead by example. Allowing the sharing of passwords puts the information security at risk, especially where financial, employee, and customer information is concerned. When employees are uneducated regarding compliance regulation, the organization can end up in trouble with authorities. Employees should be evaluated on information security measures, not just on customer service measures.…… [Read More]
At the end of the email, the sender makes it clear that questions and comments are to be directed to her, which improves the clarity of the email and highlights the sender's authority on the matter.
The second email, the goodwill email, was constructed keeping in mind Jerz and Bauer's conventions, along with Campanizzi's (no date) advice on goodwill messages. The message remains clear and simple, but gives praise so that the person with the good idea and presentation receives direct praise for her efforts. In addition, the email highlights the connection between this positive contribution of Ms. Johnson and her performance review, which provides incentive for her to continue with her excellence contributions to the company.
In both emails, vocabulary is kept simple, and there is no jargon used that the reader would not understand. It is important to keep the English simple, especially in situations like the first…… [Read More]
Stories detailing the rise and fall of the Egyptians, the Roman Empire and other great nations proved mesmerizing and intriguing.
My interests in other areas have also been diversified; I have pursued many adventures, participated as president of many clubs, and won many competitions in music, sports, dance and more. My strength has always been academics however. During high school I was presented the unique opportunity to come to the United States and continue my education. It was here that I decided to study history initially. Though my parents pressured me to study finance or business, I found such work tedious at least initially. I did however entertain my parents and begin taking more classes in finance. This was probably the best decision I have ever made and helped create the professional I am today.
The more I learned the more I came to understand that finance was more than…… [Read More]
Providing online course options for requirements would likewise reduce overall operating costs for the university, in terms of classroom space. Online teachers tend to be paid less than teachers of 'real world' classes, and these classes can more easily be staffed by adjuncts. Shifting the focus of teaching to adjuncts and teaching assistants would also limit the high cost of faculty salaries, especially for common core classes and departments with lower enrollments, where students may welcome the flexibility of an online venue. . Offering faculty members in non-priority departments the ability to retire is another way to reduce costs.
Prioritizing which tenured faculty members are necessary to retain, which departments cannot be shifted online or transformed into joint majors or joint programs with other, nearby institutions, and enacting a more stringent review process for tenure, to create a leaner institution is all essential. So can giving students more credits for…… [Read More]
Finance Director in a eputable Organization
A couple of weeks ago, I came across a poster in a gift shop that read: "you cannot run away from your destiny!" I couldn't agree more. Deep down, I have this great conviction that I was destined to be a Finance Director in a reputable organization.
I developed a liking for things monetary at a very early age. When I was only 6 years old, I used to have a small jar of coins that I hid under my bed. This was my 'savings account' and every coin I got (mostly solicited handouts from family members) went into the jar. Every day, before going to bed, I would pour out the contents of the jar on my bed and take stock of the number of coins I had. Looking back, I guess I was slowly honing (albeit subconsciously) the prerequisite cash management skills…… [Read More]
(McLaughlin, 2006, pp. 600 -- 610)
Greater amounts of coordination, is when you are working on: improving relations with the community and outside donors. This will allow the hospital to be able to have increased access to additional sources of funding (i.e. foundations and wealthy individuals). They could help to: refocus the kinds of treatment options that are delivered at the facility and the culture inside the organization itself. Once this occurs, it means that the overall quality of care that patients are receiving will increase dramatically. If these different resources can be used as a part of the financing and reimbursement strategy; this will help to address the long-term challenges facing the facility. (McLaughlin, 2006, pp. 600 -- 610)
How will the effectiveness (success) of your plan be measured?
The effectiveness of our plan will be measured using two different types of tools to include: surveys and outside consultants.…… [Read More]
finance and financial entrepreneurship. The basis of the article is on a discussion that was held on this subject among four leading lights of financial entrepreneurship in the United States - Michael Milken, Lewis Ranieri, Richard Sandor and Myron Scholes. These people are famous in their own right and have had a sizeable role in financial entrepreneurship in the U.S. over the last 20 years. We have first discussed their achievements to get a clear idea about their personal achievements. This would certainly give a clear idea of what is possible in the U.S. today. They are of course interesting characters and one has to remember that the ideal entrepreneur of the 21st century cannot be thought of as an updated version of Henry Ford. After the discussion of the people, the meeting and the discussions held there are summarized. ased on the total information collected, we have come to…… [Read More]
Internet-based applications, commerce, financing and accounting have exposed static IT acquisitions and the operating environments involved require fresh and revised processes and procedures to tackle and solve the vigorous reflux and rush of capacity, function, service, and support conditions. With the continuing increase of data center costs, workloads and more demanding service delivery requirements, IT organizations are looking for more and more innovative procurement and asset management approaches. One such approach to that provides dynamic capacity capability with practical and prearranged budget accountability is the Just in Time (JIT) system. This system alternative helps balance service delivery consistencies, improves dexterity and provides an elastic financial management. The gating factor for most such capabilities is the varied, though rapidly improving server and storage vendor offerings.
The main idea behind the principle of Just in time (JIT) is to exclude the roots of manufacturing waste by getting just the right quantity of…… [Read More]
Finance and Hospitals Mission and Vision Statements
Finance is a term which is generally associated with the management of money including assets and liabilities. The most common association in everyday life may be the way income is managed to pay liabilities (debts), and allocate funds to expenditure. This includes decision made regarding everyday events as well as major life decisions.
When looking at the everyday events, the income will usually be in the form of wages from a job and/or allowances, such as from a student loan, or support from parents or a partner, and will then be allocated to expenditure.
The allocation of the income should be prioritized to satisfy liabilities or debts, and pay for essential expenditure. If funds are left over, non-essential expenditure may take place. Liabilities or debts which are seen in everyday life include the paying of mortgage and loan repayments, such as credit card…… [Read More]
Department of Treasury
The primary aim of the U.S. Department of the Treasury is the maintenance of a strong economy and the creation of job opportunities for the American people (U.S. Treasury, 2010). The Department achieves this through three key focuses. The first focus is the promotion of conditions that enable prolific economic stability and growth both within the U.S. As well as abroad. The second focus is on strengthening national security of the U.S. By effectively eliminating threats and through the protection of the integrity of the nation's financial system. The third focus of the U.S. Treasury is the effective management of the U.S. Government's resources and finances (U.S. Treasury, 2010). The most important vision of the Treasury is to set the international standards in economic and financial leadership (U.S. Treasury, 2010).
There are several core values that underlie all of the functions and activities of the U.S. Department…… [Read More]
This can subsequently result as the massive benefits to the commercial contestants devoid of the incurring of the extra cost that pertaining to such commercial participants. The participation of the export credit agencies accompanied by the existing multilateral developments institutions normally results to the lofty stage of the ecological, employment and other supplementary social standards, which are extremely expensive and cumbersome to, accomplished.
The application these existing social standards are normally highly significant to these multilateral institutions concerning the outline policy perspectives accompanied by the chief structures and the existing projects.
These policies perspectives and the chief aims enhance the best practice that pertains to the execution of communications and the whole projects. Numerous leading private sponsors and the existing commercial lenders have finally commenced the process of incorporating of these standards. These standards include the equator principles and the other existing ecological requirements that are aimed at safeguarding of…… [Read More]
Criminal gangs do exploit global trade networks using confusing documentation associated with legitimate business transactions. Such criminals ideally make use of Trade-ased Money Laundering (TML). This is a scheme that Colombian drug cartels have capitalized on. Homeland Security Intelligence has in this regard instituted Trade Transparency Unit (TTU) to counter TCOs resolve to launder illicit proceeds through manipulation of international trade and financial systems. The TTU partners with foreign nations to exchange trade data
. It has partnered with Mexico, Panama, razil, Colombia, Ecuador, and Paraguay to mention but a few countries with a view to identifying, investigating, and prosecuting international criminal gangs that engage in TML. The ICE, ITU, and intelligence analysts in the field together with the foreign customs and law enforcement agencies responsible for border control and enforcement of financial crimes make use of TTU's computer systems called the Data Analysis and Research for Trade Transparency System…… [Read More]
The budgeting process requires the university to have a clear sense of its core values: What is more important -- a new athletic facility or maintaining high salaries for faculty? The way that a university education is transmitted to students will also be impacted by the budgetary process. Providing more online courses may cut facilities expenditures, but students will be deprived of the benefits of peer and professor interaction. These classes may be taught by adjuncts and non-tenured faculty -- is it right to create a culture of poorly paid teachers who do not receive benefits?
The most important lesson is that no institution can be all things to all people -- the institution must set priorities and strive to achieve its goals. By trying to do everything, given the limited resources at its disposal, the university will inevitably fail.… [Read More]
Policy Changes in Healthcare Finance
The American Medical Association (2013) developed the Current Procedure Terminology (CPT) codes decades ago in the 1960s. The first edition was published in 1966 and over the subsequent years several updated versions were created. The reasons for developing the CPT code system was to make communications about medical procedures easier between health care providers, help patients and their doctors submit claims for services to insurance providers, create a structure that would facilitate the development of an electronics records system, and create categories that would help researchers collect data on the health care field.
The CPT code system expanded with each subsequent edition and with publication of the second edition the codes were transitioned from a 4 to a 5 digit system (American Medical Association, 2013). This transition was necessary as the services covered by the code expanded beyond medicine, radiology, and…… [Read More]
Principal Directorates of Department of Homeland Security
Border and Transportation Security
The largest component of the Department of Homeland Security is the Directorate of Border and Transportation Security (BTS). This division is responsible for maintaining the security of the nation's borders and transportation systems. BTS employees about 58% of DHS's total employees, has nearly half of its operating budget, and includes what was formerly TSA, Customs, the border security functions of INS, the Animal and Plant Health Inspection Service, and FLETC. Just like the other directorates of DHS, it is managed by an undersecretary of homeland security (United States Department of Homeland Security, 2012).
This department brought together several agencies from such departments as the Treasury Department, the Department of Justice, the Department of Transportation, and the Department of Agriculture. The mission of this directorate is to secure the borders and transportation systems of the United States and to…… [Read More]
CEFC and the Future of Environmental Finance
The Clean Energy Finance Corporation (CEFC) represents the most aggressive environmental finance initiative sponsored by the Australian Government to date. The CEFC is an independent entity established as part of the Clean Energy Future Policy by the Australian government. As of March 2012, funding for the program totaled AUS $10 billion in government backed investments for the commercialization and deployment of clean energy technologies. This research will explore the CEFC and its role in the development and deployment of environmentally friendly energy sources and alternatives.
Governments around the world recognize the need for developing clean and renewable energy sources that reduce their environmental impact. The topic of global warning and climate change has increased the need for the development of less energy intensive and environmentally damaging energy sources. Although the role of human beings in these changes is a topic of debate, it…… [Read More]
Financial and law enforcers, military and reporting of intelligence are carried out by respective agencies drawn on limited coordination efforts (Whitmore, 2002). While agencies can pull and push intelligence data, these structures lack a centralized system for collecting intelligence. This limits the ability to conduct a meta-analysis of data across inter-agencies systems. Lack of proper coordination efforts reduces the usefulness of financial intelligence thus making it difficult to link the financial intelligence with other useful information. Critics claim that financial evidence is useful in supporting a case; it does not lead to prevention of terrorism attacks (Linden, 2007).
However, a centralized system of coordination may be an effective way of exploring financial data through linking it with other useful information. This can be made useful if the agencies improve their overall understanding of the financial networks of terrorists. The new homeland security departments are signals that there are efforts for…… [Read More]
production/income and so on. Some companies also include quality assessments as part of their analysis of department efficiencies.
5.Explain the role of the budget in the business control cycle.
Budgets can be used to help a firm meet goals and objectives. The business control cycle consists of four steps. The first is setting the standard, that is, creating the budget. The next is recording the performance of the company's departments. Third, variances from the budget are identified and analyzed to understand why they occurred. Finally, action can be planned to either correct problems identified this way, or to put preventive measure in place to enhance future performance.
6.Analyze internal and external control mechanisms that can be put in place to monitor and evaluate the budget.
Internal control mechanism could include consistent follow-up on internal and external audit findings and reporting findings of internal audits to the head of the organization…… [Read More]
S. interests. What is different is that we have names and faces to go with that warning."3 This emphasis on recognizing the adaptability
3 Dennis C. Blair, Annual Threat Assessment of the U.S. Intelligence Community for the Senate Select Committee on Intelligence, (U.S. Senate Armed Services Committee, 2010).
of the terrorist is central to the government's overall response, in terms of both planning and execution, as evidenced by findings presented in the wealth of threat assessment material released to the public each year.
With the oft mentioned terrorist training camps and secret underground bases littered throughout the Middle East long since located and reduced to rubble, jihadists the world over have increasingly turned to the internet to lure potential borrowers and launder funds on a global scale.4 the last Homeland Security Threat Assessment, delivered to the Senate Select Committee on Intelligence in 2008 and covering the period from that date…… [Read More]
Annotated Literature Review
Carlitz, R. (2013). Improving transparency and accountability in the budget process: An assessment of recent initiatives. Development Policy Review, 31(1), S49-S67.
The author of this article is a political science professor at the University of California, an exemplification of his mastery and knowledge of the subject. The article emphasizes the importance of transparency and accountability in the budget process. With reference to empirical literature, the author points out that though there is no universally accepted methodology for ensuring transparency and accountability in public budget management, there are four important ingredients of success: the production of valid information, alliances between stakeholders, legal empowerment, and international support. Enhancing transparency and accountability in the budget process is vital for ensuring efficiency in the allocation of public finances, promoting fiscal discipline, minimizing corruption and embezzlement of public funds, and most importantly, increasing public confidence in public institutions. The element of stakeholder…… [Read More]
Humana's Corporate Finance Analysis
In 1992, David Jones, the Chairman and Chief Executive Officer of Humana Inc. considered a major change within its integrated strategy of managing both hospitals and health plans because Jones thought about whether it still made sense for the company to jointly operate both hospitals and health plans, considering emerging trends within the healthcare industry within the United States. However, the Chairman/CEO felt there was more data and a comprehensive investigation was vital of Humana's tactics and procedures by elder executives who had regarded an array of alternatives for reorganizing the business' commercial formation embracing the entire severance of the company's infirmary and health plan processes. The fiscal forecasters who track Humana believed that parting was even more possible even though they were predictably controlled and there was no abrupt risk of evasion on its liabilities. In conclusion of the supervising team felt that…… [Read More]
he field of finance largely concerns itself with investment analysis and the management of funds. he fields of accounting and finance are distinct from each other. Essentially, finance, from the occupational perspective, has largely got to do with the efficient procurement and utilization of funds. On the other hand, still from an occupational perspective, accounting largely concerns itself with the examination and analysis of financial data, and preparation of financial statements. It should, however, be noted that the roles of both professions do in some cases overlap. Indeed, accounting according to Khan and Jain (p. 1.5) should be viewed as a finance sub-function.
In a typical corporation the finance function is divided into two divisions, or departments. What are they? What does each department do?
he finance function is typically divided into the financial accounting and management accounting divisions. Management accounting in the words of Drury (2006, p. 7)…… [Read More]
S. inflation in check, even during economic boom times.
The debate about increasing protectionism in the U.S. boils down to a clash of cultural values. In the natural course of international trade, there will be those who suffer and those who benefit. International markets are amoral. Trade is conducted between nations with the intent of raising the standard of living for both, but this is on aggregate, not universally. As a result, jobs losses in some sectors, particularly those where the U.S. does not have comparative advantage, are inevitable. To enact protectionist measures to stem those job losses will have three negative impacts.
The first is retaliatory trade measures. Tariffs and other protectionist measures tend to go hand in hand. If a country protects its industries, nations that trade with that country will do the same. This is the classic Smoot-Hawley scenario. To protect American jobs during the…… [Read More]
demise of the department store. This starts by describing the current situation in retail, which involves departments stores losing the interest of consumers and being forced to close, while smaller specialty stores become more popular.
After describing the general demise and the current situation, the author explains the reasons behind the demise. The first reason given is that the department store was originally created in a time before the automobile. It was then a new way of retailing and the stores were only competing against small family-owned retailers. This includes that the previous system of bartering was replaced with a system with fixed prices where consumers were guaranteed satisfaction or their money back. The author also notes that departments stores were a place to go as much as they were a place to shop. This section of the article explains why department stories initially became popular.
The first change in…… [Read More]
76), ROE has ranged from 21.6% to 28.3% in recent years, with the 2007 figure being 25.6%. This reflects outperformance of both the industry and the market. The ROA has exhibited similar outperformance of both industry and market. The return on assets for JNJ over the past several years has ranged from 13.1% in 2007 to 17.l% in 2005. The industry five-year average is 8.85% and the market five-year average is 7.50%.
Net Income increased despite decline in revenues
Growth in each business segment
R&D expense growing slower than revenues
2-year upward trend in net income
Upward trend in cash levels
Upward trend in cash flow from operations
Current ratio 46.36% higher than industry
Interest coverage 80.09% higher than industry
Net margin 14.04% higher than industry
Return on Equity 1414.79% higher than industry
Return on Assets 48.02% higher than industry
Decline in revenue this year (1st…… [Read More]
The most important objectives proposed by the ICGN refer to shareholders. Therefore, it is recommended to optimize return to shareholders, which should become the most important objective for a company. In other words, "corporate governance practices should focus board attention on this objective. In particular, the company should thrive to excel in comparison with the specific equity sector peer group benchmark" (ECGI, 2005). Another objective refers to the long-term prosperity of the business. This requires the development and implementation of a corporate strategy that focuses on increasing the equity value on a long-term.
Another recommendation refers to facilitating the exercise of ownership rights by all shareholders. In relation to this, all shareholders must be treated equitably. One of the most important recommendations refers to increasing the shareholders' possibility to be a part in the decision making process for matters of extreme importance to the company's activity.
The importance of corporate…… [Read More]
leading the Treasury Department's efforts to use microfinance in promoting international development. It is my recommendation to the deputies group that the United States expands its funding of microfinance initiatives in post-conflict and humanitarian crisis situations. Microfinance can entail a small loan given to an individual or a group of individuals at shared costs (microcredit), or it can come in other forms such as insurance [Definition of terms GOOD]
The interest rates are relatively high, and of course some individuals do not pay back their loans
Nevertheless, [Considers opposition GOOD]
Nevertheless, many cases, most prominently the Grameen Bank, for which Muhammad Yunus won the Noble Prize, demonstrate that a great majority of enrolled individuals repay their loan and interest, to the extent that some microfinance institutions and funds are able to turn a profit and attract commercial investment REFERENCE.
Recent movements in microfinance have advocated for the focus in funding…… [Read More]
Nonprofits of all kinds have to fight in these tough times to earn donations or even some business-related revenues associated with their missions. But many people forget that the fiscal responsibility of these public benefit corporations extends beyond the act of earning their money or gathering donations. They need also to accurately report the revenues they earn and ensure that the dollars are spent in accordance with their promises. Traditional business investments can be lax in the pursuit of profits, but charities have to be very honest as they try to help others.
The job of the Financial Officer is to ensure that the records and actions of the club are as consistent with these nonprofit and social benefit expectations as possible. This person (sometimes with a committee) must be part of the leadership team and must take the steps necessary to help the organization's director and governing…… [Read More]
From a supply chain standpoint, pricing departments must also create a high level of communication and collaboration across a business as well. Their role is to be the orchestrators of internal effort to manage suppliers to pricing and margin levels, ensuring consistency and focus on share goals. This is one of the primary reasons pricing has now become a strategic initiative within many businesses. For change to occur in how companies do their pricing strategies, it often takes a senior executive to manage the change in processes and systems to ensure pricing becomes strategy and shifts away from being tactical in focus (Marn, oegner, Zawada, 26).
From the sell-side or the distribution and selling channels standpoint, pricing has never been more critically important to a company's profitability. The continued consolidation of industries and commoditization of products making tracking pricing elasticity by product category critical, especially when they are sold through…… [Read More]
Financial Accounting egulatory Compliance
The roles of the Board of Directors and Chief Executive Officer of a public company are invaluable in establishing an ethical environment that generates quality accounting and reliable financial reporting for shareholders and investors. In fact, their involvement in this important issue largely pertains to corporate structure and corporate governance. Understanding that structure requires cognizance of the fact that when a company is publicly traded, it is technically owned by the shareholders. Shareholders, of course, are the many different people who own public stock in a corporation. In that respect, everyone who works for the corporation actually works for the shareholders. The next level up in corporate governance is the employees who work for the corporation, and who are responsible for the daily operation of it. These are the people who are actually responsible for implementing the measures ordained by their superiors -- the Chief Executive…… [Read More]
GLOBAL FINANCE, INC. (GFI)
IT ISK ASSESSMENT PAPE
When it comes to the risk assessment of Global Finance, Inc. there were identified vulnerabilities that were occurring in the locations of Technical Security, Management, and Operational. Vulnerabilities at the company are looked at as being weaknesses that could possibly be oppressed by a group of threats or just threats in general. Basically, all of these vulnerabilities are able to be alleviated by safeguards that are recommended. These safeguards are security features and certain controls that, when included or added in the information technology environment, alleviate the risk that is connected with the operation to what are the manageable levels. However, a complete conversation of the vulnerabilities and suggested safeguards are discovered in this report. If the safeguards suggested in this risk assessment are not applied, the outcome could be alteration or damage of data, disclosure of sensitive information, or denial of…… [Read More]
student aid programs.
Student finance aid can be described as funds given to the student to make it easy for them to fix cost of education such as fee and tuition, room and board, supplies and books where the students are undertaking their education like in universities, colleges or private schools.The funds which is being given out to public educations by government in general is known as financial aid meaning that it is being given to particular students, Financial aid can also be referred to as scholarship, although scholarship has some other components like students loans and grants.Loans are finance that one lend and must be paid back with an intrest after a period of time.In the case of student loan the money will be taken back after graduating.Aid is the help one is given.
All the U.S. states governments and The United States government offer loans, grants and work…… [Read More]
disrupting America's economic system is a fundamental objective of terrorists
Even as the world continues to struggle with the terrible shock from the September 11 attacks in New York and Washington, one principle lesson has already become clear: disrupting our economic system is a fundamental objective of terrorists.
Prior to September 11, our economic environment was certainly not immune to terror, in comparison to many other nations; we lived relatively terror-free. Now, however, the aftermath of the terrorist attacks serves as a grim reminder that international relations and security developments can dramatically affect economic performance.
US History is replete with countless examples when macro fundamentals are overtaken by what economists refer to as, exogenous shocks -- surprise events that can profoundly and often unpredictably shift political and economic resources, and send even the most accurate forecasts astray. Commodity shocks, such as the two OPEC jolts in the 1970s, are classic…… [Read More]
Technological Solutions for the NY Department of Health
The (New York) NY Department of Health is one of the public organizations under the New York government dedicating in delivering high quality healthcare for the NY residents. Before 2007, the health department used the manual method to process patents' records, which was not only prone to medical errors, the manual method was also time consuming leading to high cost of operations. In 2007, the NY department of health introduced a new information technology to enhance quality health care delivery and reduce the cost of operations.
The objective of this paper explore the new IT tools introduced by the NY health department.
Description of NY department of Health
Increasing competitions among non-profit organizations and continuous demand for the innovative services have made large numbers of governments and nonprofit organizations to consider integrating the innovative technology to deliver quality services to…… [Read More]
Healthcare Practices in Nursing Today
Over the last 50 years, health care systems all over the world have experienced rapid and significant changes. Some of these changes have been the result of innovative developments in medical science and technology that have greatly benefited patients, prolonging and saving the lives of millions. Some of these changes, however, have had the unfortunate result of limiting patient access to prescribed treatment and diminishing the overall quality of care.
Significant challenges are being faced in health care as systems restructure and reinvent themselves in a difficult and often painful effort to make more efficient use of their available resources (ICN, 2001). Since health care is such a labor-intensive industry, the stresses on these systems inexorably trickle down to affect those employed by the system. Nurses, who are the most highly trained caregivers who have ongoing, regular patient contact, stand at the very heart of…… [Read More]
Effectiveness refers to hitting targets that are set. When an organization is reaching its goals, it is effective. Efficiency is the level of effectiveness divided by the effort to get there. In essence, how much does the organization get out of its resources. Both can be applied to operations, financials and any other organizational metric.
The four phases of management control are programming, budget preparation, execution and evaluation (Barnat, 2014). The programming element involves choosing what programs or lines of business an organization will pursue, i.e. the strategic direction. The budget is how the resources will be allocated within the organization. . The execution refers to the operating tactics used to implement the strategy. Lastly, evaluation is a control process where management examines what worked, what didn't, and whether or not the organization hit its objectives.
A forecast budget is typically built on the previous budget, where estimates…… [Read More]
hat are the dynamics of patient accounts receivable? hat are some of the factors affecting patients accounts receivable?
Facing the challenge of how to address the hospital's unpaid accounts receivable can be one of the most emotionally draining issues for a patient accounts receivable department. In addition to people simply reigining on their payments, the department must face patients who cannot pay, who did not understand that their insurance would not cover a procedure, or patients who simply refuse to pay because they fault the hosptial for inapprorpriate care.
Such a combination of patient's financial, insurance, legal, and emotional complaints often drives some hospitals to explore the option of moving their accounts receivable from a primary collecting agency within the hosptial to a secondary agency. But once a hosptial has written an accounts recievable off to bad debt and sends it somewhere else, it can be very cumbersome…… [Read More]
Why is the internet important to money laundering?
A large number of nations now have aggressive policies in place against money laundering, rendering it exceedingly difficult for offenders to apply traditional money laundering tactics. But this also leads them to strive at creating new tactics with the Internet being one of the popular new modes they employ (Kassner, 2013).
Globalization and the Internet have made it possible to pay for services online. Several online merchants and customers make use of the numerous web-based payment services available. A number of these individuals aren't eligible to own credit cards or have no bank accounts. Thus, web-based payment services enable them to purchase products/services online and transfer cash directly. Numerous online sellers are very willing to get paid online, since they are cheaper than credit card payments (Delta & Matsuura, 2008).
The web-based payment services may be located anywhere in the…… [Read More]
In United States the Congress had passed the Medicare Prescription Drug, Improvement and Modernization Act of 2003 or MMA and with this imposed a stoppage for 18 months on the starting of new physician owned specialty hospitals. At the same time, they also wanted to know the position regarding certain matters of physician owned heart, orthopedic and surgical specialty hospitals through MedPAC. The team visited sites, made legal analysis and met the share owners in these hospitals and finally presented a report to the Congress. It had also gone through the cost reports received from Medicare and inpatient claims of 2002, which was the most recent at that time. This will naturally form the basis of such hospitals being permitted or not. (Physician-owned specialty hospitals)
Findings of MedPAC:
The findings of this committee showed that:-
Physician owned hospitals generally treated patients who had less severe problems…… [Read More]
One of the most crucial factors towards the success of a shipping company is effective operations management. Shipping companies establish organizational structures and cultures that seek to promote effective operations management. Some of the major divisions in ship management include commercial, operation, administration, finance, and technical departments. Operations department is mandated with the task or responsibility of handling all issues relating to shipping management and ensuring that the shipping company undertakes activities that focus on achievement of respective business objectives. However, this department works in collaboration with the other departments to ensure that all functions and activities are coordinated and streamlined. Through the coordinated activities, the operations department has several responsibilities and authority that enable it to act as a link between the ship and the office. This paper discusses the authorities and responsibilities of the operation department as a link between the ship and the office.
Overview of Operation…… [Read More]
Apple (Mac) Finances and Globalization
Apple's goal is not making money, claims Sir Jonathan Ive - Apple's head of design. For a mega company that is worth a reported $539 billion, this might pass as a frivolous statement and Ive admits this. However, he asserts that his sentiments are true and factual. Ive clarifies that their goal is producing excellent products. These statements were made at the British Embassy's Creative Summit and were reported by The Telegraph. He stated that in being successful at this goal, consumers like the products Apple produces and when the company operates efficiently then revenue will definitely follow.
What happened in a courtroom in California does however negate these statements as Apple has engaged Samsung in several patent law suits in a number of countries the world over. In one such case against Samsung tablets and smart phones, Apple claims that Samsung products are blindly…… [Read More]
Sound usiness ased on Sound Finances
Podosave Ltd. is a food retail organization for which I will present a financial analysis based on the information I gained and the knowledge I acquired as a result of my role within the business.
My role was to work within the business, recruiting for vacant positions and training existing employees in order that they were able to attain relevant skills for their roles. Reporting to Head Office, I would relay information that was relevant to the HR department and act on the department's behalf.
The role of financial management in business
Financial management is fundamental to the success of a business and the strength of its financial 'health'. Those who work in managing a firm's finances should be able to identify its strengths and weaknesses whilst locating opportunities for growth. A key component of this is to compare financial statements against…… [Read More]