Financial Reporting
Essays

Wal-Mart's annual report, like the annual reports of most economic agents, can be found on their website, under the section designed for investors. This placement of the annual report is indicative of its financial importance and its role as a source of information for current and potential investors. Additionally, the quick and easy accessibility to the annual report of the largest American retailer reveals their commitment to transparent communications with any category of interested stakeholders, such as customers, employees, business partners, the public, governmental and non governmental institutions and so on.

In this paper we are comparing FASB and GASB accounting methods. This takes place by looking at the two standards and different forms of accrual accounting. Once this occurs, is when we can see how the two approaches are similar and dislike. This is the point that most accurate comparisons will be made.

Alcan's continued revenue growth is the result of the combined success of increasing sales in four main business units, in addition to growth through acquisition. The cumulative effects of these two factors have served to create a profitable business and one where a highly decentralized organizational structure dominates (Chang, Wang, 2011). The catalyst of the organization becoming so decentralized is the continued revenue gains made across four businesses, each competing in market areas that face heavy pricing and commodity-like market conditions. Despite the heavily process-centric based approaches the industry takes to supply chain management, production and distribution, Alcan has been also able to profitably grow sales in the more mature markets they compete in. The senior management and IT departments credit the highly decentralized nature of the enterprise-wide systems that run the company. During the time period of the case, Alcan generated $23.6B in sales in 2006, and has 68,000 employees throughout its global operations that span 61 countries. The four major groups include Primary Metal, Engineered Products, Packaging and Bauxite & Alumina. Each of these business groups have their own Enterprise Resource Planning (ERP) system and IT infrastructure. They each also have their own maintenance contracts with enterprise software vendors including SAP who the company pays approximately $100M a year in maintenance fees to. There are also the costs of operating over 400 different pricing systems, many of which duplicate functions across divisions as well. The new CIO of the company, Robert Ouellette, enters into a challenging situation and one that will require a completely different IT and organizational structure to succeed. Organizational Environment The Alcan organizational environment is highly decentralized to the point of there being four separate companies in the same corporation, each with its own entire value chain and supporting functions. As with the value chain concept, each of the four divisions has created its own main and supporting functions, and no two business units or divisions are the same. From the initial supply chain management and supplier quality management processes and systems to the supplier qualification, new product development, production and fulfillment including logistics, each business unit is significantly different than the other. When information systems and processes become unique to a given organizational business unit or division, the information and intelligence shared redefines the identity and over time, the core competencies of a business unit (Boh, Yellin, 2007). This is exactly what's happening in the four business units of Alcan during the time period of the case study. The Primary Metal, Engineered Products, Packaging and Bauxite & Alumina have in effect become their own companies, each with its own ERP, Manufacturing Execution System (MES), Supply Chain Management (SCM) and myriad of pricing and distribution systems. The case states that there are over 400 different pricing systems in place across the four business units or divisions. CIO Robert Ouellette and other senior executives see the potential for consolidating all systems together and creating a centralized IT architecture. Creating a highly centralized IT architecture and framework would require the fundamental structure of the company to change significantly. It would also require an entirely new IT architecture, followed by redefinition of processes, systems and procedures throughout the company. As the information platforms or technologies of a business define not only the performance of divisions but the structure and performance of business models over time, Robert Ouellette and his staff must think strategically as to how they will modify the overall organizational structure.

The advent of technology has increased the popularity of database usage in firms, yet the legislation regulating the field has yet to be finalized. The changing nature of the IT sector, coupled with the legislative traits, creates several situations in which the companies find it difficult to comply with the regulations. This paper recognizes some of those difficulties, and also proposes some solutions.

The objective of this work is to examine Auditing Standards in Australia.

Creating transformational change in companies by automating their most challenging processes, strategies and systems is what Cincom Systems excels at today. The company has five different product divisions, each selling enterprise software into various segments of the Customer Relationship Management (CRM) marketplace. Privately held with 700 employees employed across five continents, Cincom is also profitable and has had many customers on maintenance contracts for over two decades. The future of Cincom is predicated on how well strategic plans can be defined and executed with its major partners including IBM, Microsoft and SAP. Of these three, Microsoft offers the greatest potential for accelerating the product development plans of the Cincom Manufacturing Business Solution (CMBS) business unit. CMBS generates between $7M to $10M a year in revenue, both on maintenance contracts in addition to new software sales, and has created a line of CRM and Enterprise Resource Planning (ERP) systems that are designed for complex manufacturers. In order to stay competitive, Cincom must move these systems to the Software-as-a-Service (SaaS) platform, which is how they can be migrated quickly and easily to Cloud computing platforms Microsoft has including the well-known Azure platform. This migration from being purely a licensed application to being on the SaaS platform also needs to include greater support for analytics and business intelligence (BI) within the applications as well. With these new features, the CMBS enterprise suite would be able to generate 30 – 40% more sales. In addition, the costs of supporting customers would drastically be reduced as the SaaS platform would make it possible to streamline new product releases on a central application platform. At present Cincom CMBS struggles with getting its enterprise customers to upgrade their existing CRM and ERP systems as well. With a SaaS-based system the company could roll out entire versions without having to deal with timing and costly delay issues as customers procrastinate on releases. This approach will help to alleviate one of the greatest hidden costs of enterprise software development, having to support multiple versions of legacy applications (Lindley, Topping, Lindley, 2008). It is anticipated this strategy will save nearly $7M over the next five years in development costs alone. Moving to a SaaS-based CRM and ERP systems will also significantly open up the opportunity to integrate these systems to legacy applications customers have neglected to integrate with their existing on-premise applications. The greater the level of integration between legacy systems and CRM and ERP software suites, the higher the Return on Investment (ROI) and more effective analytics and financial reporting (Borch, Hartvigsen, 1991). Cincom sees the potential in their three year strategic plan to solve long-standing problems that their on-premise software strategies have slowed down sales of their highest-end and most profitable enterprise software. The intent of this analysis is to provide a description of the Cincom Manufacturing Business Solutions (CMBS) business unit, perform a SWOT analysis, define how the Web Services plan created with Microsoft will impact their business in the next three years and how this plan will be measured and analyzed for effectiveness.

Pennsylvania, also known as the keystone state is one of the four commonwealth states in the United States. It earned the title of commonwealth due to its organization by the commonwealth consent of its citizens during the colonial period. The commonwealth of Pennsylvania offers a wide range of services to enhance the quality of life to its 12.6 million people. This paper presents the Tax Revenue Analysis for the State of Pennsylvania and New York

Dealing with fraudulent practices within accounting is a daunting process. Evaluating massive amounts of data over a very short period of time must be done systematically in order to provide irrefutable evidence that either supports or denies allegations of fraud within financial reporting. Thus, it is important to effectively map out the design process of the investigation, gather data efficiently through the appropriate channels, and then evaluate data based on presumed categorical differences in order to make clear assumptions about possible financial fraud that can hold up in a court of law.

General electric is operating under turbulent internal and external environments. The SWOT analysis reveals that the strength of GE has made the company to dominate the markets over the years. The company is still facing threat of competitors despite its strength. The PESTLE analysis shows the external environment that the company is operating. The Porter five forces analyze the company competitive environment. The company has power over the buyers. With the competitions that the company is facing, GE does not have power over the buyers. GE needs to take the advantages of economic of scale, and use procurement and outsourcing techniques to lower costs and deliver value to its customers.

¶ … disclosure principle in accounting is the standard adopted by the accounting profession, which "calls for financial reporting of any financial facts significant enough to influence the judgment of an informed…