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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…
Maxifield, S. (2010). Gender and risk: women, risk taking and risk aversion. Gender in Management, 25 (7), 586 -- 604.
Ng, L. (2011). Best management practices. Journal of Management Development, 30 (1), pp. 93-105
Nolop, B. (2012). The Essential CFO. Hoboken, NJ: Wiley
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…
Andrew, G (2009), Operation Management, Saga Publications
Bish, E, (2005) Managing Flexible Capacity in a Make-to-Order Environment Management Science, Prentice Hall Publications
Brown, S & Kate, B (2001), Operation Management: Policies and Procedures, Pearson Group Publications
Bettley, A & David, M (2005), A Strategic Approach to Operation Management, McGraw Hill Publications
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:…
Sandrick, Karen. (1995). From CFO to CEO: What Does it Take to Make the Leap? Healthcare Financial Management. Retrieved July 7, 2008 at http://findarticles.com/p/articles/mi_m3257/is_n12_v49/ai_17869137
Taub, Stephen. (2003). Now Playing: CFO as CEO. CFO.com. Retrieved July 7, 2008 at http://www.cfo.com/article.cfm/3007934?f=most_read
No author. (2005). CFO to CEO. Corporate Finance. Retrieved July 7, 2008 at http://www.cristassociates.com/press/CorpFin_CFOtoCEO_040105.pdf
Sandrick, Karen. (1995). From CFO to CEO: What Does it Take to Make the Leap? Healthcare Financial Management
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…
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…
Dufree, S. (2005). Top Spot. CFO. Retrieved from: http://www.cfo.com/article.cfm/4444468
Kaskey, J. (2010). Monsanto CEO to Leave. Business Week. Retrieved from: http://www.businessweek.com/news/2010-11-22/monsanto-says-cfo-casale-to-leave-become-ceo-at-chs.html
Howard, T. (2006). Pepsi Co Names CFO. USA Today. Retrieved from: http://www.usatoday.com/money/companies/management/2006-08-14-pepsi-ceo_x.htm
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,…
Yesilhark, M. (2000). What are the roles and responsibilities of a finance department?
Retrieved February 12, 2005, from Hausarbeiten.de
Web site: http://www.hausarbeiten.de/faecher/vorschau/8283.html
Department Functions. (2002). Retrieved February 12, 2005, from City of Kirkland
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…
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 Weigh 'No Child Left Behind'. CBS News. Retrieved April 24, 2009 from http://cbs2chicago.com/politics/No.Child.Left.2.278792.html
Shelly, Bryan. (2007). A Small Lever: Federal Funding and State Compliance to No Child Left Behind. Wake Forest University. Retrieved April 21, 2009 from http://www.allacademic.com//meta/p_mla_apa_research_citation/1/9/8/5/6/pages198564/p198564-1.php
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…
Brownstein, Howard and Edward Gavin. "When Bad Things Happen to Good Customers." Business Credit, June 2003, retrieved from ProQuest 27 June 2007.
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…
Pickert, K. (2010). The Unsustainable U.S. Health Care System. Time. Retrieved from: http://swampland.time.com/2010/02/04/the-unsustainable-u-s-health-care-system/
Santerre, R. (2010). Health Economics. Mason, OH: Cengage.
Zelman, W. (2009). Financial Management of Health Care Organizations. San Francisco, CA: Josey Bass.
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:
Globusz Publishing (2010). Standard cost. Globusz Publishing. Retrieved November 9, 2010 from http://www.globusz.com/ebooks/Costing/00000014.htm
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…
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…
Goldsmith, Benjamin E., Charles Robert Butcher, Dimitri Semenovich, and Arcot Sowmya. Forecasting the Onset of Genocide and Politicide: Annual Out-of-Sample Forecasts on a Global Dataset, 1988-2003. Rochester, Rochester: 2012.
Hewitt, Ronald T. "Valuing it Human Capital." It Professional Magazine 14, no. 1 (2012): 58-60.
Larson, Richard C. "Emergency Response: Operations Research Models for Homeland Security." or-MS Today 31, no. 5 (2004): 22-9.
Mitchell, Kenneth. "The Other Homeland Security Threat: Bureaucratic Haggling." Public Manager 32, no. 1 (2003): 15-18.
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…
Parrott, David. The business of war: military enterprise and military revolution in early modern europe. Cambridge University Press, 2012.
"The Fellows: David Parrot." New College at the University of Oxford. University of Oxford, 11
Oct 2013. Web. 9 Nov 2013. .
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…
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…
Marks & Spencer 2010 Annual Report. Retrieved February 11, 2011 from http://annualreport.marksandspencer.com/overview/about-us.aspx
Yahoo! Finance: Marks & Spencer. Retrieved February 11, 2011 from http://finance.yahoo.com /q/bs?s=MKS.L+Balance+Sheet&annual
TullowOil.com. (2011). Retrieved February 11, 2011 from http://www.tullowoil.com
Yahoo! Finance: Tullow Oil. Retrieved February 11, 2011 from
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…
Yahoo! Finance, various pages. (2009). Retrieved November 25, 2009 from http://finance.yahoo.com
Federal Reserve. (2009). Money Stock Measures. Federal Reserve. Retrieved November 25, 2009 from http://www.federalreserve.gov/releases/h6/Current/
Bureau of Economic Analysis. (2009). National Economic Accounts. BEA. Retrieved November 25, 2009 from http://www.bea.gov/newsreleases/national/gdp/gdpnewsrelease.htm
Bureau of Labor Statistics. (2009). Employment Situation Summary. BLS. Retrieved November 25, 2009 from
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…
1) Richard Behar (March 16, 1998). "Why Subway Is 'The Biggest Problem In Franchising' That's the assessment of a congressional staffer who studied." Forbes Magazine. http://nextraterrestrial.com/pdf/FDeluca-Fortune%20March%2016%201998.htm . Retrieved August 1, 2012.
2) Joe Ducey (June 26, 2007). "Sub-Standard." KNXV-TV (Phoenix, Arizona. Archived from the original on August 18, 2007. http://web.archive.org/web/20070818130828/http://www.abc15.com/content/news/investigators/story.aspx?content_id=cf4c217c-1910-4040-9a33-0102fdd135c7 . Retrieved April 8, 2008. "His office recently warned Subway, for shorting a customer and the ABC 15 Investigators found Subway was the biggest offender in our test."
3) "SUBWAY Free Cookie Promotion for Completing SUBWAY Receipt Survey." Financial Tips and Articles on How to save More Money and Earn Extra Cash from Credit Card Offers and Banking Bonuses to Travel Savings and Shopping Discounts including Promotional Code Offers and Merchant Discount Links That Assist You in Maximizing Money. N.p., 6 June 2011. Web. 02 Aug. 2012. .
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.…
Gordon, L.A. (2002). Return on information security investments: Myths & Realities. Strategic Finance, 84(5), 26-31.
Spontak, S. (2006). Defense in Depth: How financial executive can boost IT security. Financial Executive, 22(10), 51-53.
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…
Campanizzi, J. (no date). The write stuff for quality. Career Development. Retrieved February 27, 2012 from http://qpc.co.la.ca.us/cms1_035856.pdf
Jerz, D. & Bauer, J. (2011). Writing effective email: Top 10 email tips. Jerz's Literacy Weblog. Retrieved February 27, 2012 from http://jerz.setonhill.edu/writing/e-text/email/
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…
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…
Caldwell, B. & Harris, J. (2008). Why Not the Best Schools?: What We Have Learned from Outstanding Schools Around the World. Sydney: Australian Council for Educational
Chabotar, K.J. (2006). Strategic finance: Planning and budgeting for boards, chief executives, and finance officers. Washington, DC: Association of Governing Boards of Universities and Colleges.
Meyers, R. (1996). Strategic Budgeting. USA: University of Michigan Press.
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…
Fitch, T. (2009). Career Opportunities in Banking, Finance, and Insurance (2nd ed.). New York, NY: Infobase Publishing.
Griffin, R.W. (2010). Management (10th ed.). Mason, OH: Cengage Learning.
U.S. Department of Labor and the U.S. Bureau of Labor Statistics (2010). Occupational Outlook Handbook 2010-2011. Washington, DC: U.S. Government Printing Office.
(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.…
Costs of Your Health Plan. (2010). CNN. Retrieved from: http://money.cnn.com/2010/10/20/pf/rising_health_care_costs.moneymag/index.htm
Patient Satisfaction Surveys. (2011). Info Serve. Retrieved from: http://www.infosurv.com/patient-satisfaction-survey/
McLaughlin, C. (2006). Continuous Quality Improvement. Sudbury, MA: Jones and Bartlett.
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…
Altman, E.I., ed. The High-Yield Debt Market: Investment Performance and Economic Impact, 41-57. 1990.
Atkinson, T.R. Trends in Corporate Bond Quality. Hardingson, 1967.
Goodfriend, Marvin; Parthemos; James, Summers, Bruce J. Recent financial innovations: courses, consequences for the payments system, and implications for monetary control, Economic Review, March 14-27, 1980
Schneider, S.H. Laboratory Earth: The Planetary Gamble We Can't Afford to Lose. Basic Books New York, NY. 1997.
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…
1. Benesko, Gary G, Inter-Corporate Business Engineering -- Streamlining the Business Cycle From End to End, Cary/North Carolina: Research Triangle, 1997.
2. Garret, John and Waters, Donald, Preserving Digital Information. Report of the Task Force on Archiving of Digital Information, Washington, D.C.: 1996
3. Keeney, Jennifer, Just-in-Time Financing, Fortune Small Business, Friday, February 8, 2002.
4. Knight, Charles Passages of a Working Life London: 1864, II, 66-67.
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…
Del Sol Medical Center, (2014), Our Mission and Values, accessed at http://www.laspalmasdelsolhealthcare.com/about-us/mission-vision-values-and-goals.aspx
Emory, (2014), Emory Healthcare, accessed at http://www.emoryhealthcare.org/about-us/mission-vision.html
Whelan, D, (2010, Aug 31), America's Most Profitable Hospitals, Forbes, accessed at http://www.forbes.com/2010/08/30/profitable-hospitals-hca-healthcare-business-mayo-clinic.html
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…
The U.S. Department of the Treasury, (2010). Duties & Functions of the U.S. Department of the Treasury. Retrieved November 25, 2010 from http://www.utreas.gov.
The U.S. Department of the Treasury, (2010). FY 2010 Budget in Brief. Retrieved November 25, 2010 from http://www.ustreas.gov/offices/management/budget/budgetinbrief/fy2010/BIB-ExecutiveSummary.pdf .
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…
Al-Jassar Ahmed & Massachusetts institute of technology. 2005. International project finance.
Cambridge: Massachusetts Institute of Technology, Department of Civil and Environmental Engineering. Pages 21-234.
Dewar John. International Project Finance: Law and Practice. (Oxford: Oxford University
Publishing Press 2011)
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…
Department of Homeland Security, (2012). "Written testimony of U.S. Immigration and Customs Enforcement Homeland Security Investigations Investigative Programs
Assistant Director Leigh Winchell for a Senate Committee on Homeland Security and Governmental Affairs, Permanent Subcommittee on Investigations hearing titled "U.S.
Vulnerabilities to Money Laundering, Drugs, and Terrorist Financing: HSBC Case
History"16 Jul. 2012.
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.
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…
About the Directorate for Management. (2011). Retrieved from http://www.dhs.gov/xabout/structure/editorial_0096.shtm
About the Science and Technology Directorate. (2011). Retrieved from http://www.dhs.gov/xabout/structure/editorial_0530.shtmUnited States Department of Border and Transportation Security. (2010). Retrieved from http://homelandsecurity.uslegal.com/department-of-homeland-security/components -
Department of Homeland Security. (2012). Retrieved from http://www.gov.com/agency/dhs/
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…
Business Innovation & Skills. 2011. The economics of the Green Investment Bank: Costs and Benefits, rationale and value for money. [online] Available at: http://www.bis.gov.uk/assets/biscore/business-sectors/docs/e/12-554-economics-of-the-green-investment-bank.pdf [Accessed 10 June 2012].
Clean Energy Council. March 2012. Design Features of the Clean Energy Finance Corporation.Deloitte. [online] Available at: http://www.cleanenergycouncil.org.au/...CEFC.../ ... [Accessed 10 June 2012].
Commonwealth of Australia. 2011. Clean Energy Finance Corporation, Expert Review. [online] Available at: http://www.cefcexpertreview.gov.au/content/Content.aspx?doc=report/default.htm [Accessed 10 June 2012].
Department for Business Innovation and Skills. 2012. UK Green Investment Bank. [online] Available at: http://www.bis.gov.uk/greeninvestmentbank [Accessed 10 June 2012].
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…
Amos, M. & Petraeus, D. (2009). The U.S. Army Marine Corps Counterinsurgency Field
Manual. New York: Signalman Publishing
Center for Excellence Defense against Terrorism (2008). Responses to Cyber Terrorism.
California: IOS Press
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…
Loeb, R. And M. Workman (2002) Annual budgeting as a management tool. Robert Loeb and Company. Retrieved 6 September 2005 at http://www.robertloebandcompany.com/articles/body_articles.html2002
Miller, G.J. And J. Rabin. (2001) Performance-based budgeting. Boulder, CO: Westview Press.
Porter, W. (2005, June 1). CRO advantage: outsource clinical trials to launch biotech development success. Biopharm International. Retrieved 8 September 2005 from www.highbeam.com.
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…
Bennetch, Paul. 2012. "Terrorism expert: al-Qaida's 9/11 tactics an 'abject failure'." Cornell Chronicle [Ithaca, NY] 13 Mar 2012. Retrieved from http://www.news.cornell.edu/stories/March12/BergenCover.html
Blair, Dennis C. 2010. United States Senate Select Committee on Intelligence. Annual Threat Assessment of the U.S. Intelligence Community for the Senate Select Committee on Intelligence. Washington, DC: Government Printing Office, Retrieved from http://intelligence.senate.gov/100202/blair.pdf
Esposito, Richard, Matthew Cole, and Brian Ross. 2009. Officials: U.S. Army Told of Hasan. ABC World News. Retrieved from http://abcnews.go.com/Blotter/fort-hood-shooter - contact-al-qaeda-terrorists-officials/story?id=9030873
Holt, B. 2010. Islamic wealth management. Unpublished raw data, Thomas Jefferson School of Law, San Diego, CA.
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…
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…
Business Day. (1996, August 15). Humana inc. (hum, n). The New York Times. Retrieved from http://www.nytimes.com/1996/08/15/business/humana-inc-hum-n.html?src=pm
Gamble, M. (2011, July 11). The quiet takeover: insurers buying physicians and hospitals. Retrieved from http://www.beckershospitalreview.com/hospital-financial-and-business-news/the-quiet-takeover-insurers-buying-physicians-and-hospitals.html
Harvard Business School. (1994). Humana inc. managing in a changing industry. Manuscript submitted for publication, Department of Business, Harvard Business School, Boston, Massachusetts.
McClure, B. (2011). DCF analysis: coming up with a fair value. Investopedia. Retrieved August 2, 2011, from http://www.investopedia.com/university/dcf/dcf4.asp
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)…
There are a variety of factors that could affect the price of a company's stock. Key amongst these include: economic shocks/conditions (including, but not limited to, natural disasters and wars), business environment, and the firm's internal dynamics (including the financial management decisions made by the key officers) (Parrino and Kidwell, 2009).
7. What's wrong (if anything) with saying the basic financial goal of a business is to "maximize profits?"
According to Drury (2006), there
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…
No author. (2009). Top ten countries with which the U.S. trades. Census.gov. Retrieved December 6, 2009 from http://www.census.gov/foreign-trade/top/dst/current/balance.html
No author. (2007). David Ricardo and comparative advantage. NetMBA.com. Retrieved December 6, 2009 from http://www.netmba.com/econ/micro/comparative-advantage/
US Department of State. (no date). Protectionism in the interwar period. U.S. Department of State. Retrieved December 6, 2009 from http://www.state.gov/r/pa/ho/time/id/17606.htm
Evenett, S. (2009). The G20's assault on world trade. VOX. Retrieved December 6, 2009 from http://www.voxeu.org/index.php?q=node/4008
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…
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…
Sapovadia, V.K. (2003). Good Corporate Governance: An Instrument for Wealth Maximization. MBA Department of Saurashtra University Conference, India. http://papers.ssrn.com/sol3/papers.cfm?abstract_id=955289 . Accessed January 18, 2008.
Corporate governance (2007). Wikipedia, the free encyclopedia. http://en.wikipedia.org/wiki/Corporate_governance . Accessed January 19, 2008.
ICGN Statement on Global Corporate Governance Principles (2005). International Corporate Governance Network. European Corporate Governance Institute. www.ecgi.org/codes/documents/revised_principles_jul2005.pdf. Accessed January 19.
La Porta, R. et al. (1999). Investor Protection and Corporate Governance. Social Science Research Network. http://papers.ssrn.com/sol3/papers.cfm?abstract_id=183908#PaperDownload . Accessed January 19, 2008.
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…
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…
CIPFA (2009). The role of the chief financial officer: In public service organizations. The Chartered Institute of Public Finance & Accountability. Viewable at www.cipfa.org.uk/panels/finance_director/download/role_cfo.pdf.
Writing, A. (2012). What are the duties of officers of an organization? Chron.com. Viewable at http://smallbusiness.chron.com/duties-officers-organization-535.html .
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…
Manu Carricano, Jean-Francois Trinquecoste, and Juan-Antonio Mondejar. "The rise of the pricing function: origins and perspectives. " the Journal of Product and Brand Management 19.7 (2010): 468.
Thomas H. Davenport. "Make Better Decisions. " Harvard Business Review 1 Nov. 2009
Vrinda Kadiyali, Pradeep Chintagunta, and Naufel Vilcassim. "Manufacturer-retailer channel interactions and implications for channel power: An empirical investigation of pricing in a local market. " Marketing Science 19.2 (2000): 127.
Krishna, a., F. Feinberg, and Z. Zhang. "Should Price Increases Be Targeted?-Pricing Power and Selective vs. Across-the-Board Price Increases. " Management Science 53.9 (2007): 1407-1422.
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…
Hanna, J. (2014). The costs and benefits of Sarbanes-Oxley. www.forbes.com Retrieved from http://www.forbes.com/sites/hbsworkingknowledge/2014/03/10/the-costs-and-benefits-of-sarbanes-oxley/#483d803d2776
Harper, J. (2016). "More than just data": The impact of Bayesian machine learning on predictive modeling. https://analyticsweek.com Retrieved from
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…
Gregory, L.M. (2011). CISSP for Dummies. New York.
Krause, H.F. (2009). Information Security Management Handbook. New York City.
Risk Management: The Importance of Redundant Backups. (21, November 2012). Retrieved from Softlayer: http://blog.softlayer.com/2012/risk-management-the-importance-of-redundant-backups
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…
Berkeley (December 2009)"students debt "Schackner Pittsburgh Post Gazette
Fetterman Mindy (2006)"Young people struggle to deal witht kiss of debts "USA Today
Kantrowitz, Mark (2010-03-26). "Student Loans - The New York Times." Nytimes.com. http://www.nytimes.com/info/student-loans/?inline=nyt-classifier . Retrieved 2011-02-07.
Schemo, Diana Jean (June 10, 2007) "Private loan deepen acrisis in student Debt "by new York times Tim Grant,(July 29,2009) "student loan puts college graduates into deep financial hole" Pittsburgh Post Gazette
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…
Bagehot, Walter. 1927. Lombard Street: A Description of the Money Market, John Murray, London.
Balbach, Anatol B. 1981. "How Controllable is Money Growth?" Federal Reserve Bank of St. Louis Review, vol 63, no 4, April, p. 5.
Becker, Gary S, Steven N. Kaplan, Kevin M. Murphy and Edward A Snyder. (2002 / winter). "The Economic Effects of September 11," GSB Magazine, University of Chicago's Graduate School of Business.
Bell, Stephanie. 2000. "Do Taxes and Bonds Finance Government Spending?." Journal of Economic Issues, Vol. 34, no. 3, pp. 603-620.
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…
Abramson, S. (1980). Adverse Occurrences in Intensive Care Units. Journal of the American Medical Association 244 (14): 1582-1584.
Ahmadi, M. (1989). Traditional vs. Nontraditional Work Schedules. Industrial Management 31(2), 20-23.
Bennett, M. & Hylton, J. (1990). Modular Nursing: Partners in Professional Practice. Nursing Management 21(3), 20-24.
Beauchamp, T.L. & Childress, J.F. (1994). Principles of Biomedical Ethics, 4th ed. New York: Oxford University Press.
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…
Accounting Tools (2016). Flexible budget.. Accounting Tools.com. Retrieved April 15, 2016 from http://www.accountingtools.com/flexible-budget
Barnat, R. (2014). Strategic control: Formulation and implementation. Strategic Control.com. Retrieved April 15, 2016 from http://www.strategic-control.24xls.com/en135
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…
"Bad debt rising: when to sell your accounts receivable." (Aug 2004)
Healthcare Financial Management. Retrived 21 Apr 2005 athttp://www.findarticles.com/p/articles/mi_m3257/is_8_58/ai_n6154194
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…
Delta, G., & Matsuura, J. (2008). Law of the Internet. Aspen Publishers Online. Retrieved from https://www.techopedia.com/2/29789/internet/world-wide-web/money-laundering-the-internet-way
IMF. (2016). Anti-Money Laundering/Combating the Financing of Terrorism. Retrieved from https://www.imf.org/external/np/leg/amlcft/eng/aml1.htm
Kaplan, E. (2006). Tracking Down Terrorist Financing. Retrieved from http://www.cfr.org/terrorist-financing/tracking-down-terrorist-financing/p10356#p6
Kassner, M. (2013, Dec). Money Laundering, the Internet Way. Retrieved from Techopedia:
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…
"Healing Ministry of the Madras Diocesan Medical Board" Retrieved from http://www.csimadrasdiocese.org/hospital.htm Accessed 21 August, 2005
Kamath, Gauri. "Doctors in arms" Retrieved from http://www.businessworldindia.com/Nov1003/indepth01.asp
Accessed 21 August, 2005
"Parkwest Medical Center" (October 25, 2004) Retrieved from http://www.covenanthealth.com/coldfusionapplication/covhlthwhatsnew/Detail.cfm?Post_ID=12027 Accessed 21 August, 2005
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…
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…
Apple Inc. SWOT Analysis. (2012). Apple, Inc. SWOT Analysis, 1-9.
Apple Inc.: The Steve Jobs Effect. (2012). Apple Case Study: The Steve Jobs Effect, 1-16.
Czinkota, M.R., & Ronkainen, I.A. (2013).International Marketing. Cincinnati: South-Western.
Daft, R.L. (2013). Organization theory & design. Mason, OH: South-Western Cengage Learning.
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…
1. Brealey, Myers Principles of Corporate Finance, 5th ed. The McGraw Companies Inc. 1996
2. Van Horn, J Financial Management and Policy, 11th ed., Prentice Hall, New Jersey, 1998
3. Limitation of Ratio Analysis http://cbdd.wsu.edu/kewlcontent/cdoutput/TOM505/page26.htm
4. Activity-Based Costing and the Development of Cost Pools http://www.qry.com/lmu/book/mach5.pdf
constitute itself as a business plan for a heart hospital, with a determine goals to establish the main factors and outcomes that may determine both the outlet's utility and its success as an economic entity. We will aim to analyze the reason for investing in a heat hospital, the financial assumptions we are dealing with, as well as the risks associated with such a project.
From the very beginning, we need to point out towards the distinct specificity that such a business project implies. When referring to the specificity of a heart hospital, we tend to include it in the larger category of healthcare facilities, where a distinct approach is needed in order to correctly blend the two different levels of description we will describe below.
First of all, any healthcare centre and a heart hospital in particular is designed to help the patients improve their health condition. As such,…
1. CDC/NCHS. American Heart Association 2001-2004. On the Internet at http://www.americanheart.org/presenter.jhtml?identifier=1200026
2. American Heart Association. 2004. On the Internet at
Williams Case Settlement
Mr. Governor, our youth represents our state's future - addressing and correcting the discrepancies that will be addressed in this memo should be a main priority and maybe even the ultimate objective of the Williams Class action lawsuit educational budget adjustments. The Courts have spoken and have obviously concurred that the California Educational System has been broken for quite some time and is in need of serious financial reform. The decision reached by the courts in the Williams' Class action lawsuit affirms the requirement of the State's obligation to provide an adequate educational process for this state's citizens.
The Williams' Class action lawsuit has become a successful demonstration that points out the blearing differences between an education received by our states rich and poor children when it comes to a K. through 12th grade education. The California State Legislature has confirmed that there is a significant funding…
Hill, John (2002). School Cutbacks Concern Analysts. Bee Capitol Bureau.
School cutbacks concern analyst
Hill warns lawmakers the governor's proposed budget-cutting plan could cause undue harm in classrooms.
John Hill -- Bee Capitol Bureau
Hyundai company analysis
Finance is a critical function in any business. It acts as an indicator for the health of a company, as well as determining its growth. When a company realizes new investment opportunities and other future aspirations, finance enables such ventures. Thus, finance reflects the performance of an organization (Gruen & Howarth, 2005). Measurement of performance takes place over a period of time. Organizations practically present their financial performance on a quarterly and yearly basis while others carry out a monthly exercise of tracking their performance. The government requires that all companies present an annual assessment of their performance. The information is featured in the form of financial transactions of sales, investments, savings and others. The information is part of a document called the Annul eport. Investors are informed by the annual report of companies before deciding on whether to invest in the company (Mclean, 2003).…
Cleverly, W.O., Cleverly, J., & Song, P. (2011). Essentials of health care finance. Sudbury:
Jones & Bartlett Learning.
Gruen, R., & Howarth, A. (2005). Financial management in health services. New York: Open
Mclean, R. (2003). Financial management in health care organizations. Clifton Park: Delmar
Strategic Perspectives in Management Accounting and Finance
The main reason for differentiation in the accounting studies seemed to occur due to the functionalist perceptions in the expertise of social studies. According to Dellaportas and Davenport (2008) professions are being separated by occupation on the basis of the level of distinctiveness one occupation has from another; a model first designed by Greenwood in 1975.
Abercrombie et al. (1994, p. 335) in their study explained that such distinctiveness is surrounded by the concept which results in more beneficiary outcomes for the public than for an individual's professional interest in providing services. This simply means that it was an original human demand that gave birth to all professions. There's an equality on profession's social compulsion i.e. there is a balance between a professional's job and his obligation to serve the public. In this regard Carey (1965, p. 376) asserted that it was in…
Abbott, A. The system of professions: an essay on the division of expert labor. Chicago: University of Chicago Press (1988).
Abercrombie, N., Hill, S., Turner, B.S. The penguin dictionary of sociology. 3rd ed. Ringwood: Penguin Books (1994).
Bedard, J. The disciplinary process of the accounting profession: protecting the public or the profession? The Quebec experience. Journal of Accounting and Public Policy; 20 (2001) (4/5): 399 -- 437.
Bivins, T.H. Public relations, professionalism, and the public interest. Journal of Business Ethics; 12 (1993) (2): 117 -- 26.