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asses the financial status of the hospital, I've used the indicators frequently mentioned in the health-care literature and my conclusion is that the current management did a good job.
The operating margin [(Total operating revenue - operating expenses)/Total operating revenue)] increased from a negative 36.1% to 4.24% in 1993, indicating a constant progress. The gross margin also had an excellent evolution, from -30.24% in 1990 to 4.81% in 1993.
The return on equity ratio is probably the most impressive indicator, considering the relation to the difference between its value in 1993 and the one in 1990. It went from -69.62% to a staggering 14.88% in only 3 years. The values recorded in 1993 exceed even the national averages, which is great for a hospital with important financial problems just a few years before.
As far as liquidity is concerned, the current ratio is the most frequently used indicator. Its value…
1. Flex Monitoring Team - Briefing Paper No. 7 "Financial Indicators for Critical Access Hospitals" - May 2005, available on the Internet at http://flexmonitoring.org/documents/BriefingPaper7_FinancialIndicators.pdf
Financial Analysis of Lehman rother
The history has been full of financial collapses and financial scandals and one of the biggest financial collapses that a company has ever seen was that of Lehman brother. The collapse of a firm as huge as Lehman rother and a firm which has such great experience of over a hundred years lead the world into a shock. It created doubts in the minds of people regarding the condition of other financial institutions. The history of Lehman rother is rich which is further discussed.
The history of Lehman rother dates back to 1844, when a boy named Henry who was a 23-year-old son of a cattle merchant who immigrated to the United States from Germany and he settled in Alabama State of the United States where he opened dry goods store. In 1847, when Henry Lehman's elder brother arrived to Alabama, the firm…
1. Bebchuk, L.A., Cohen, A., & Spamann, H. (2010). The Wages of Failure: Executive Compensation at Bear Stearns and Lehman 2000-2008. Yale Journal on Regulation,27(2), 257+.
2. Blake, D. (2000). Financial Market Analysis. New York: Wiley. Cetorelli, N., Mandel, B.H., & Mollineaux, L. (2012). The Evolution of Banks and Financial Intermediation: Framing the Analysis. Federal Reserve Bank of New York Economic Policy Review, 1+.
3. Dwyer, G.P., & Tkac, P. (2009). The Financial Crisis of 2008 in Fixed Income Markets.Federal Reserve Bank of Atlanta, Working Paper Series, 2009(20), 1+.
4. Fitzpatrick, T.J., & Thomson, J.B. (2011). How Well Does Bankruptcy Work When Large Financial Firms Fail? Some Lessons from Lehman Brothers. Economic Commentary (Cleveland), (2011-23), 1+.
Had the organization employed the techniques of activity-based costing, they would have realized the need to change their approach and had started manufacturing small size and fuel efficient engines, as most of the customers were requiring these items. "If Ford [...] had used activity-based costing, they would have realized early on the utter futility of their competitive blitzes of the past few years, which offered new-car buyers spectacular discounts and hefty rewards" (Drucker, 2003).
Unlike absorption costing, marginal costing uses the traditional division into direct, indirect, fixed and variable costs. The accounting method sees that the final marginal cost of a product will be calculated by summing up the direct costs of labor, the direct costs of materials, the direct expenses and the variable overheads (Brown). The applications of marginal costing revealed that Ford was able to support a price advantage relative to General Motors and Chrysler due to its…
Bernstein, L.A., Wild, J.J., 1999, Analysis of Financial Statements, 5th Edition, McGraw-Hill Publishers, ISBN 0070945047
Berry, a., 1999, Financial Accounting: An Introduction, 2nd Edition, Cengage Learning EMEA, ISBN 186152479X
Brown, G., Introduction to Costs Accounting: Methods and Techniques, http://www.globusz.com/ebooks/Costinglastaccessed on March 9, 2009
Drucker, P.F., 2003, Peter Drucker on the Profession of Management, Harvard Business Press, ISBN 1591393221
7. Overall Performance
Lufthansa is one of the strongest corporations of the globe and a major player on the European airline market. Its success is obvious in the satisfaction of their customers or the fact that their employees love working for the company, and it often materializes in opportunities for growth and development. Throughout the past recent years, the German airline organization has managed to increase its customer base, its fleet as well as its product offering. But these are not the sole indicators of prosperity. The financial analysis of Lufthansa revealed a strong economic agent. Despite the existence of some few issues which…
April 3, 2007, World Airlines, Flight International
2009, Investopedia, http://www.investopedia.com last accessed on February 11, 2009
2009, Deutsche Lufthansa AG, Reuters, http://www.reuters.com/finance/stocks/ratios?symbol=LHAG.DElast accessed on February 11, 2009
2009, Website of the Lufthansa Group, last accessed on February 11, 2009
The decision of investing or not here then depends on the personal adversity to risk of each individual investor. The general theory states that each investor should construct a diversified portfolio, which adequately balances high risk-high gain shares with medium or even low rates of risk and gains (Hagin, 2004). New Zealand could then be assimilated with a medium risk-medium gain share, and as such would be perceived as a valuable addition to one's portfolio. In this order of ideas then, the recommendation would be that of investing in the country.
Amadeo, K., 2009, An Introduction to the Financial Markets, About, http://useconomy.about.com/od/themarkets/a/capital_markets.htm last accessed on December 17, 2009
Hagin, ., 2004, Investment Management: Portfolio Diversification, isk and Timing -- Fact and Fiction, John Wiley and Sons
Healy, J., 2001, New Zealand Capital Markets, Ministry of Economic Development, http://www.med.govt.nz/upload/18163/healy.pdf last accessed on December 17, 2009
Malkin, B., 2009, Financial Crisis:…
Amadeo, K., 2009, An Introduction to the Financial Markets, About, http://useconomy.about.com/od/themarkets/a/capital_markets.htm last accessed on December 17, 2009
Hagin, R., 2004, Investment Management: Portfolio Diversification, Risk and Timing -- Fact and Fiction, John Wiley and Sons
Healy, J., 2001, New Zealand Capital Markets, Ministry of Economic Development, http://www.med.govt.nz/upload/18163/healy.pdf last accessed on December 17, 2009
Malkin, B., 2009, Financial Crisis: Australia and New Zealand Guarantee All Ban Deposits, The telegraph, http://www.telegraph.co.uk/finance/financetopics/financialcrisis/3187662/Financial-crisis-Australia-and-New-Zealand-guarantee-all-bank-deposits.html last accessed on December 17, 2009
hus, today, if someone asked you whether they should invest in Apple, Inc., the answer would be "yes."
Appendix a Steve Jobs: CEO and Co-Founder
Steve Wozniak: Co-founder
imothy D. Cook: COO
Peter Oppenheimer, CFO
Philip W. Schiller: SVP of Marketing
Jonathan Ive: SVP of Industrial Design
ony Fadell: SVP of iPod
Ron Johnson: SVP of Retail
Sina amaddon: SVP of Applications
Bertrand Serlet: SVP of Software Engineering
Scott Forstall: Vice President of Platform Experience.
Mac Personal Computer System
Mac OSX and OSX server
Ipod and iunes
Apple Remote Desktop
Final Cut Studio
Final Cut Studio
Apple has seen new success as a result of its iPod music player, which has increased profits by $320 in the second quarter of June, 2005. he positive reviews of iPod has given the…
The most significant threat to Apple is the high level of competition that exists in the it industry.
Apple's earning and profits has continually increased since the year 2000. Fiscal years ending in 2005 and 2006 both saw significant increases in Apple's revenues. At the end of 2005, Apple's after tax income was $1,328 million, which was a 399.24% increase from the previous year. For the fiscal year ending in 2006, Apple's after tax income was $1,989 million, which represented another 49.7% increase. Apple's earning per share for the 2006 fiscal year was $2.27, whereas in the previous year it was $1.55 and the year before that only $00.36.
Importance of Financial Statements
The Importance of Accurate Financial Statements to Outside Business Interests
The four financial statements are the balance sheet, income statement, statement of cash flow, and statement of owner's equity. All of these statements are interactive even though they each serve a unique purpose. They are intended to assess the health of a business and their accuracy is vitally important to investors, creditors and other outside interests. The income statement, statement of cash flow, and statement of owner equity, close out at the end of each year. The balance sheet amounts are carried over from year to year (Kurtz, 2010).
Both internal and external entities use these statements in order to inform the decision making process. These documents provide pertinent information on the financial position (balance sheet), profitability (income statement), and operating, investing, and financing activities (statement of cash flow and statement of owners…
"Cash vs. accrual accounting." (2000). Inc. Nolo.com Inc. Retrieved September 27, 2012, from http://www.inc.com/articles/2000/04/19194.html
Horngren, C.T., Harrison W.T., & Oliver, M.S. (2012). Accounting (9th ed.). Upper Saddle River, NJ: Pearson Prentice Hall.
Kurtz, D.L. (2010). Contemporary business, 13th ed. Hoboken, NJ: John Wiley & Sons Inc.
Lasher, W.R. (2008). Practical financial management (5th ed.). Mason, OH: Thomson South-Western.
financial statements by business entities. The purpose of this is so that one can understand about the business cash, how the business acquired or generated it, how it was used and in what ways and tomorrow's business plans, financial position of a business, performances and its position. The paper will go ahead to analyze if there is any significance of cash for the survival of a business and the impacts of the various financial sets. The arguments that will prevail will be based on the importance of the different financial statements to a business survival.
Cash is a crucial constituent of a business and I do agree that a business cannot survive without it. 'As a matter of fact the main aim and goal of a business is to generate cash and profits not only in the short run but also in the long-term.' (Minnery, 2006) Every business has everyday…
Elliot.B, 2005, Financial Accounting and Reporting; Financial Times/Prentice Hall, United Kingdom
Graham B. 1998, The Interpretation of Financial Statements Harper Business, amazon
Minnery.B. 2006, 'Don't question the importance of cash flow' The independent, viewed date 28 May 2006, www.independent.co.uk
MoneyInstructor.com. 2009, The importance of cash flow statement; viewed; Aug 19, 2009 www.moneyinstructor.com/doc/importance....
financial statements Hawaiian Airlines 3 years. Access information contained Hawaiian Airlines balance sheet income statement calculate: • Liquidity ratios o Current ratio o Acid-test, quick, ratio o eceivables turnover o Inventory turnover • Profitability ratios o Asset turnover o Profit margin o eturn assets o eturn common stockholders' equity • Solvency ratios o Debt total assets o Times interest earned Show calculations ratio
Hawaiian Airlines Financial Analysis
Hawaiian Airlines is a relatively small airline operator at a global level, being the 11th by size in its own country. Still, the notable element about the company is that it is the flag carrier, which virtually means that the company receives governmental support in order to conduct its operations (Bennett, 2006). Hawaiian Airlines is an integrant party of the larger company Hawaiian Holdings, which has placed itself within the market as the company ensuring a quick access to a good time in…
Bennett, S. (2006). A sociology of commercial flight crew. Ashgate Publishing
Cento, A. (2008). The airline industry: challenges in the 21st century. Springer (2012). Investopedia. http://www.investopedia.com accessed on October 4, 2012
Website of Hawaiian Airlines, http://www.hawaiianairlines.com / accessed on October 4, 2012
Financial Analysis of Pepsi and Coca Cola
Synopsis of Companies
Pepsi and Coca-Cola companies boast of having two of the most recognized and preferred or desired beverages in the whole world. These two establishments are very fierce competitors in the beverage industry and incessantly compete with one another with the main objective of becoming the main and top distributor of not just sodas built but other beverages as well. This fierce rivalry that exists between the two companies is referred to as the "Cola Wars" and began in the period leading to the 1980s and has since then continued and become even more intense. In the period leading to the 80's Pepsi boosted and increased its market share, a time which coincided with Coca Cola Company being the top most distributor and supplier of beverages (PepsiCo Annual eport, 2013).. At this point in time, the two companies energetically and dynamically…
Goodman, A. (2013). PepsiCo, Re-Energized. Forbes. Retrieved from: http://www.forbes.com/sites/agoodman/2013/06/14/pepsico-re-energized/
O'Toole, B. (2014). Green Mountain stock soars on Coke partnership. CNN Money. Retrieved from: http://money.cnn.com/2014/02/05/investing/green-mountain-coca-cola/
Passport. (2013). Coca-Cola Co The SWOT Analysis, In Soft Drinks (World). Retrieved from: http://www.euromonitor.com/medialibrary/PDF/Coca-Cola-Co_SWOT_Analysis.pdf
PepsiCo, Inc. And Subsidiaries. (February 19, 2013). Form 10-K.
The auditor's opinion letter is a basic form letter that says it conducted the audit according to accepted auditing principles, and that the financial statements of Major Medical Center accurate reflect the financial condition of the organization. It is impossible to tell from the auditor's statement itself that anything is wrong -- this is the standard form for such a statement and most of them look like this.
The first thing to look for would be numbers that have changed a lot when there is not much reason for them to change -- the outlying events are quite important. The revenue has not changed much, so this looks like a mature business. Therefore, there should not be major changes in other line items. Salaries and wages have increased in line with the increase in revenues, which makes sense. The one thing that concerns me is "Net assets released…
Financial analysis is a tool that allows third parties to analyze corporate financial statements. One of the main reasons that the Securities and Exchange Commission requires that statements are compiled and presented in a consistent manner is to ensure that third parties will be able to use the statements to compare different companies. These comparisons can, among other things, help with investment decisions. This paper will compare PepsiCo and Coca-Cola Company, the two leading soft drink marketers in the world. PepsiCo is actually the larger of the two companies, because it is more diversified, with its snack food properties. These properties also alter the company's finances, creating certain points of difference between the two companies. This report will cover a number of different forms of financial analysis, arriving at a conclusion about which company has the stronger financial position.
The first set of ratios to be studied…
FTC. (2010). FTC puts conditions on PepsiCo's $7.8 acquisition of two largest bottlers and distributors. Federal Trade Commission. Retrieved May 19, 2012 from http://www.ftc.gov/opa/2010/02/pepsi.shtm
Leckey, A. (2010). Coca-Cola Co. outlook strong after big acquisition. Los Angeles Times. Retrieved May 19, 2012 from http://articles.latimes.com/2010/oct/31/business/la-fi-leckey-20101031
Loth, R. (2012). Financial ratio tutorial. Investopedia. Retrieved May 19, 2012 from
he only observation that could be made here is that one would expect a larger proportion of the total expenses to be allocated to research and development, given the fact that this is such an important part of Microsoft's activity and essential in order to obtain a competitive advantage on the market.
Asset and Capital Structure
Cash and cash equivalents
otal fixed assets
he asset structure at Microsoft reflects some of the particularities in the industry, notably the fact that the inventory levels tend to be quite low, as compared to the other assets. his means that the I industry is not one supporting production on stock. At the same time, the value of the total fixed assets is significantly high, which can be partly explained by the size of the company and the investments in land, buildings and equipment.
The return on assets at Microsoft was 0.24 in 2008, as compared to 0.22 in 2007. As most of the other profitability and asset management figures, the return on assets also shows a better performance in 2008.
Part IV -- Conclusions and Recommendations
Microsoft's results, both in terms of absolute value from the income and cash flow statements and balance sheet and the ratio analysis, show a solid, extremely competitive company, whose results have improved from 2007 to 2008, despite the global economic crisis. Its capacity to retain low levels of inventory, to gradually increase its efficiency in using assets and to bring new products to the market are some of the positive aspects at Microsoft. As a recommendation, the company could consider allocating a larger proportion of its expenses into research and development.
Thus, the Board ultimately had little control over this particular cost, which is how it is found itself in a difficult financial position this year. The general lack of control over the budget is a definite weakness for the Bridgeport Board of Education.
In lieu of financial statements, there were two main resources available to help assess this organization's health. Its budget book was the primary source, as it detailed the Board's financial situation with respect to its inflows and outflows. News items are also helpful. Since the Board is not a public company, it is not required to disclose items of financial significance, but such items may come to light through the local news media.
The organization's approach to creating shareholder value is to spend its money on the programs that deliver on its strategic objectives. These include graduating students at a college-ready level, reducing the dropout rate to…
Bridgeport Public Schools Budget Request 2009-2010.
Bridgeport Board of Education website, various pages. (2009). Retrieved November 12, 2009 from http://www.bridgeportedu.net/
Lambeck, L. (2009). Bridgeport schools face health insurance funding gap. Connecticut Post. Retrieved November 12, 2009 from http://www.allbusiness.com/education-training/education-administration-school-boards/13333032-1.html
Brewer, R. (2008). Bridgeport school funding dilemma: No easy solutions. 06106. Retrieved November 12, 2009 from http://06106blog.org/2008/03/07/bridgeport-school-funding-dilemma-no-easy-solutions/
Financial esource Management
eaching a financial decision regarding heath care services
All forms of industries deemed financial management as expressive in origin till the 1960's. Its basic and sole role was to ensure financing for completing the business's operatives and functions. The department for business planning or marketing would project a net total for meeting the services and meeting daily demands; managers would calculate the assets required to complete a given project needed, equipment's, supplies and building. Financial management is a field which focuses on business securities as well as the markets in which they are in key demand. Also, more emphasis is made on how businesses can tap new markets and unlock their hidden potential. As a result, financial management books were pretty explanatory and predictable in origin during those times. (Sandrick, 2008).
These days, financial management plays a pivotal role in day-to-day operations of a business. The responsibility…
Allen, S., and M. Bombardieri. 2008. "A Healthcare System Badly Out of Balance." The Boston Globe, November 16.
Glaeser, E.L. 2004. "The Governance of Not-for-Profit Organizations." The International Journal of Not-for-Profit Law 6 (3).
Halvorson, G.C. 2005. "Healthcare Tipping Points." Healthcare Financial Management (March): 74 -- 80.
Helvin, L.K. 2008. "Caring for the Uninsured: Are Not-for-Profit Hospitals Doing Their Share?" Yale Journal of Health Policy, Law, and Ethics (summer): 421 -- 70.
Financial Proposal: Dorchester, Ltd.
As discussed in earlier papers, for Dorchester, the final decision as to which particular nation to invest in is dependent on a range of distinct scenarios; these factors naturally impact the selected acquisition target. Before the acquisition target is selected, the nation which houses the potential acquisition target needs to be scrutinized closely. For instance, the trade environment of the nation where the prospective acquisition is located needs to be assessed, since this factor will impact the cost and ability to engage in trade. The political environment of the nation where the prospective target resides is also a crucial factor that needs to be examined closely. No potential targets exist in peaceful vacuums; rather all the prospective nations looked at during this course have some element of political risk attached to them. Furthermore, as discussed during earlier assignments, it's been found that political stability of a…
Brown, C. (2011, January 20). How to Finance an Acquisition. Retrieved from Inc.com:
Ford, P. (2010, August 17). China's economic status is good news for the country ...
right? Retrieved from Csmonitor.com: China's economic status is good news for the country ... right?
Overall, at&T is the more profitable of the two companies. That Verizon has the stronger gross margins and at&T the stronger net margins indicates that at&T does a better job of controlling its cost structure than does Verizon.
The telecommunications industry is highly competitive in both the landline and wireless segments. By 2006, wireless spending had match wireline spending. hile this presents significant opportunities for telecommunications, much of that spending comes in the form of cannibalizing, as wireline revenues have been decreasing steady over the past decade, matching the steady increases in wireless spending.
There are four major wireless operators in the U.S. And over 170 regional players (Megna, 2009). Competition is based on coverage area (capital investment), price and customer service. Both firms can be considered industry leaders. As of 2007, at&T had a subscriber base of 65.7 million and wireless revenues of $10.9 billion. Verizon had…
MSN Moneycentral Verizon. Retrieved October 24, 2009 from http://moneycentral.msn.com/investor/invsub/results/statemnt.aspx?Symbol=VZ&lstStatement=Balance&stmtView=Ann
MSN Moneycentral at&T. Retrieved October 24, 2009 from http://moneycentral.msn.com/investor/invsub/results/statemnt.aspx?Symbol=T&lstStatement=Balance&stmtView=Ann
Loth, R. (2009). Financial Ratios Tutorial. Investopedia. Retrieved October 24, 2009 from http://www.investopedia.com /university/ratios/
Chen, B. (2009). Verizon iPhone? Don't hold your breath. Wired. Retrieved October 24, 2009 from http://www.wired.com/gadgetlab/2009/10/verizon-iPhone/
Despite having an exceptional pace of growth throughout the early years of their existence, Saatchi & Saatchi is facing client attrition and declining revenues. What had happened through their continual restructurings was the corporation lost track of their core vision, mission and values. The distance between these three core attributes of their business and financial performance had drifted apart so far that financial results were showing the increasingly disjointed nature of their corporate culture (Greenhalgh, 2004). The reliance on a balanced scorecard to unify their core vision, mission and values back to financial performance was needed (Niven).
As a result of the continued deterioration of financial and customer performance, management at Saatchi & Saatchi put into place financial and customer-driven goals for the company. The financial objectives included the foundation of their company's resurgence and comeback, including growing the revenue base faster than market rates, converting…
Greenhalgh, C. (2004) Building a Strategic Balanced Scorecard: Saatchi & Saatchi Complementary Case Study. Business Intelligence Company. Retrieved February 17, 2013, from http://www.business-intelligence.co.uk/PDFdownloads/strat_bsc/Saatchisr.pdf
MyStrategicPlan (N.D.) Balanced Scorecard: Performance Measurements for Success. Retrieved July 20, 2010, from http://www.mystrategicplan.com/strategic-planning-topics/balanced-scorecard.shtml
Niven, P. (N.D.) Financial perspective. EPM Review. Retrieved July 20, 2010, from http://www.epmreview.com/Resources/Articles/Delivering-shareholder-value-growing-revenue-and-enhancing-productivity.html
Robin, D. (ND) Vision, Mission and Values: Management Tools for Building a Better Workplace. Daniel Robin & Associates. Retrieved July 20, 2010, from http://www.abetterworkplace.com/027.html
Financial managers and CEO's play important roles in ensuring that organizations meet their specific goals. The skill levels for both positions are high and require a great deal of patience and experience. The purpose of this discussion is to determine whether being a financial manager is the best preparation for later becoming a CEO.
ole of the Financial Manager
According to the Bureau of Labor, financial managers must have a bachelor's degree in a field such as business administration, accounting, economics or finance. Although, as the business world becomes more competitive, organizations are requiring financial managers to have Master's degrees and a great deal of experience before they can become financial managers. The Bureau also explains that financial managers are vital to the success of any organization and their jobs involve supervising the preparation of financial reports, direct investment activities, and implement cash management strategies. As computers are increasingly used…
Campbell, M.W., Kowalski, R.B. Healthcare Financial Management Association Apr 2000
Financial Managers. 2004. Bureau of Labor and Statistics. http://www.bls.gov/oco/ocos010.htm
In the case of Arctic, the company is relying, in terms of long-term financing, almost exclusively on retained earnings. Retained earnings can be defined as earnings that are "retained by the company to be reinvested in its core business or to pay debt," basically, a form of not paying out dividend to the shareholders and reinvesting profit. Retained earnings amount for 65.1% of total asset value, a similar proportion as the one in 2003.
Retained earnings play the same role at Polaris as well. In 2004, these amounted up to 46.2% of total asset value. On the Polaris 2004 balance sheet, on the other hand, the retained earnings are accounted for as shareholders' equity.
As a conclusion in terms of debt usage, both companies use no or almost no long-term bank debts to finance their activity and there is no financial leverage worth analyzing. In both cases, the shareholders' equity…
The return on assets is calculated by dividing net income by the total assets value. The return on assets was 13.1% in 2004 for Polaris, with 16.5% in 2003. We can observe a 3.4% difference in the return on assets here and this can be explained by noticing that the total assets value increased with over 18%, while the net income actually decreased in value. This means that the newly acquired assets have not yet begun to generate income from their activity.
At Arctic, the return on assets was 10.6% in 2004 and 11.8% in 2003. The slight decrease in Arctic's return on assets value can bear the same explanation as in Polaris's case: net income decreased, while the total assets value has actually increased over this period.
The return on equity value will actually measure the amount of profitability that the shareholder obtains from the company. It is calculated by dividing the net income
The overall examination of financial documents is integral to the proper functioning of government entities. For one, examinations help to prevent budgetary shortfalls that may jeopardize the economic viability of governments. Stress tests, are particular useful as they provide outlooks contingent of varying macroeconomic situations. These stress test and examinations, when done correctly, allow stakeholders to make proper assessments as to the financial stability of their government. Without these assessments, unexpected events may cause policy changes that harm society overall. Aspects such as the budget cuts currently underway in many of the nation's largest states are a direct result of lackluster financial examinations. Consequently, the individuals will have to sacrifice in the form of higher taxes and lower benefits (McKenna, 2006).
When evaluating Swobodaville's financial condition based on the partial list of factors given, a number of elements cause concern. First, the low income, sales tax exempt households,…
1) Gilbert W. Joseph and Terry J. Engle (December 2005). "The Use of Control Self-Assessment by Independent Auditors." The CPA Journal.
2) Guthrie, J., Roger Burritt and Elaine Evans. 2011. "The Relationship between Academic Accounting Research and Professional Practice," in Bridging the Gap between Academic Accounting Research and Professional Practice, eds. Elaine Evans, Roger Burritt and James Guthrie.
3) McKenna, Francine. "Auditors and Audit Reports: Is The Firm's "John Hancock" Enough?"( 2006). Forbes
3.2.3 Portfolio Diversification of Investment in Global Property Markets
ecause the global property markets are affected by globalization and specific country / regional factors, means that the overall amounts of risks will vary, the most notable include: transparency and efficiency. Where, each country / region has different on laws and regulations pertaining to the real estate markets. This means that the risks in a number of different markets will depend upon specific market conditions themselves, reflecting these two factors. To protect themselves against these kinds of risks, many investors will often seek to diversify their portfolio. Diversification is: when you are investing a number of different asset classes in real estate, across a variety of countries / regions. The idea is that if a risk occurs in a specific country or region, the other areas that you are diversified in will protect you against the severity of the declines. For…
2009 A Year of Revival for Property Sector, 2010, Visit Kuwait. Available from: . [30 March 2010].
Barwa Real Estate, 2010, Arabian Business. Available from: . [30 March 2010].
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Dubai Property Companies Called Merger Off, 2009, Property Wire. Available from: [30 March 2010].
This aspect of the study were inclusive of works of "economic historians on the development of financial systems" most particularly the "banking systems" worldwide and exactly what the resulting impact will be. (Rousseau & Sylla, 2001) hile the two identified "strands of literature" one dealing with domestic and the other international developments, are no always related to one another" but are however, both elements of the story called financial globalization." Definition of a "Good Financial System" states that there are five key components which are: (1) Sound public finances and public debt management; (2) Stable monetary arrangements; (3) a variety of banks, some with domestic and others with international orientations, and perhaps some with both orientations; (4) a central bank to stabilize domestic finances and manage international financial relations; and: (5) ell-forming security markets."
Impacts of Globalization on National Economies
Impacts on the economies of the world have been stated…
Rousseau, Peter L. And Sylla, Richard (2001) "Financial Systems, Economic Growth and Globalization"
Financial Systems, Economic Growth and Globalization" 2001 Oct 15 Online available at http://www.nber.org/~confer/2001/globes01/sylla.pdfr.org/~confer/2001/globes01/sylla.pdf
Bruno, Giovanni S.F. et al. (2003) Measuring the effect of globalization on labor demand elasticity: An empirical application to OECD Countries ISBN 1616-4814. FLOWENLA Discussion Paper 2 available Online at http://www.eastwestmi gration.org retrieved from the Internet 26 May 2006
Gartzke, Erik (2003) War, Peace, and the Invisible Hand: Positive Political Externalities of Economic Globalization International Studies Quarterly Volume 47 Issue 4-Page 561 - December 2003 doi:10.1046/j.0020-8833.2003.00279.x Quan Li21Columbia University, 2 the Pennsylvania State University
Financial Management in Healthcare
Medicare and Medicaid are programs run by the government and which provide medical services as well as services that are health care related to particular groups of individuals in the United States. It is imperative to note that these two programs are exceedingly dissimilar but are supervised and overseen by the Centers for Medicare and Medicaid Services which is a department that is found within the Department of Health and Human Services of the United States. The origin of these two programs dates back to the year 1965 when they were created after President Lyndon B. Johnson signed changes to the Social Security Act (Crosta, 2015) for the national health care program. This program was principally created at the time when individuals who were aged 65 years and above found it impossible to obtain private coverage for health insurance. In particular, this was a time when…
Wareham, T. (2014). Funding the Transformation: Three financial considerations will shape hospitals' transition success. Trustee.
Scamperie, K. (2013). The fee-for-service shift to bundled payments: financial considerations for hospitals. Journal of Health Care Finance 39(4):55-67.
Addicott, R., Buck, D., Goodwin, N., Harrison, T., Ross, S., Sonola, L., ... & Curry, N. (2013). Transforming our health care system. The King's Fund.
Puerto ico became a possession of the United States after the Spanish-American War in 1898, but has never been fully incorporated into the Union (Pantojas-Garcia, 2013). It later became a Commonwealth in 1952, a status it maintains to this day. The subject of the status of Puerto ico has, since that time, been controversial. There have been multiple referendums on the subject, the latest in 2012, but as yet there has not been a change in the status of Puerto ico. The 2012 referendum indicated a majority of Puerto icans want the status of their territory changed, with most preferring full statehood. Yet this number is not sufficient to break what is essentially a stalemate, and there are other options as yet on the table. This paper will look at the issue of the stalemate, its causes, and will explore the ideas of solutions.
Analysis of History
Puerto icans are…
Davilla, A. (1997). Sponsored Identities: Cultural Politics in Puerto Rico. Temple University Press: Philadelphia.
Garrett, R. (2011). Political status of Puerto Rico: Options for Congress. Congressional Research Service. Retrieved November 18, 2014 from http://fas.org/sgp/crs/row/RL32933.pdf
Pantojas-Garcia, E. (2013). The Puerto Rico status question: Can the stalemate be broken? Caribbean Journal of International Relations & Diplomacy. Vol. 1 (2) 41-52.
Bush, who declared that corporations which jeopardized the investments and jobs of millions of individuals should pay their dues. The United States Senate and the House of epresentatives also became involved and proposed numerous modifications.
The pillar of the changes occurred in financial reporting after the accounting scandals is based on increased transparency and more support in conducting audit operations. The XBL system for instance will allow the Securities and Exchange Commission to conduct analyses in a more efficient manner. All efforts to improve the financial reporting system have been condensed into the Sarbanes-Oxley Act. It represents the most important regulatory act of the past 70 years and it is applicable all around the world; it addresses issues that refer to all players in the corporate reporting chain.
Bautista, L.., 2004, Implications and Effects of Sarbanes-Oxley Act, Securities and Exchange Commission, etrieved at http://www.adbi.org/conf-seminar-papers/2006/03/30/1739.implications.effects.sarbanesoxley/onMarch 13, 2009
Cooper, C., 2007,…
Bautista, L.R., 2004, Implications and Effects of Sarbanes-Oxley Act, Securities and Exchange Commission, Retrieved at http://www.adbi.org/conf-seminar-papers/2006/03/30/1739.implications.effects.sarbanesoxley/onMarch 13, 2009
Cooper, C., 2007, Extraordinary Circumstances: The Journey of a Corporate Whistleblower, John Wiley and Sons
Lee, H., Effects of Sarbanes-Oxley Act of 2002 and SEC Final Rulings on Auditor Independence, SUNY Institute of Technology, Retrieved at http://www.sba.muohio.edu/abas/2003/vancouver/lee_auditor%20independence.pdfonMarch 13, 2009
Malpass, a., June 2, 2002, hp_:I/help animals.net/news artic/91719, Quoted by Hannon
Prior to the corporate financial scandal, WorldCom was one of the largest long distance telephone companies (euters, 2003). Initially headquartered in Mississippi it later moved to Virginia. The company grew fast by acquiring other companies such as MCI Communications in 1998 and UUNET technology in 1996. Other companies acquired included, Metromedia in 1992, esurgens Communications Group in 1993. In the course of this acquisition spree, WorldCom undertook two complex takeovers. The first was the 1998 acquisition of CompuServe from H& Block where it retained the network division, sold off the online service to American Online (AOL) and the second, the acquisition of Digex in 2001, and disposed of all Digex assets to Allegiance Telecom (Kaplan & Kiron, 2004). With these acquisitions, it gained a favorable reputation in the market as a company with a solid foundation.
Facts of the WorldCom Case
The WorldCom fraud case is one of the…
Kaplan, R.S., & Kiron, D. (2004). Accounting Fraud at WorldCom. HBS Premier Case Collection .
Reuters. (2003, April 14). WorldCom to emerge from collapse. Retrieved from www.cnn.com: http://edition.cnn.com/2003/Business/04/14/worldcom/
Ryerson, F. (2009). Improper Capitalization and The Management of Earnings. Las Vegas: Macon State College.
The Securities and Exchange Commission, 02 Civ. 3288 (United States District Court For the Southern District of New York June 26, 2002).
Nevertheless, more crucial remained the truth that the dollar itself oscillated severely as against the yen that is another vital currency for carrying out business for the affected nations. The fading of the dollar within the decadal period from 1985 to 1995 made a huge boon in the trade surplus for the affected nations. Thereafter, the acute turnaround began in 1995 wiped their enormous edge in price and damaged their current account situation, which in its effect spoiled the trust in the market created an appropriate climate for the crisis. To put it differently, it was not the system of linking the dollar in its own which is responsible. The cause was the non-observance of the basic instability in the economies of the nations and the uncontrolled oscillation of the exchange rate of dollar-yen. The dilemma was the outcome of the huge quantity of unstable capital and the blind follower…
Akyuz, Yilmaz. Causes and sources of the Asian Financial Crisis. Paper presented at the Host Country Event: Symposium on Economic and Financial Recovery in Asia. UNCTAD X, Bangkok. 17 February 2000. Retrieved at http://www.unctad-10.org/pdfs/hi_akyuz.en.pdf. Accessed on 3 February, 2005
Chakravarthi Raghavan. G -24 calls for international regulation of financial markets. Retrieved at http://www.twnside.org.sg/title/g24-cn.htm . Accessed on 3 February, 2005
Fischer, Stanley. Reforming the International Monetary System. November 9, 1998.
Psychology, Financial Decision-Making, and Household Management
Reason for Selecting Subject
The reason I chose this subject is that in the recent times, the aspect of financial education and understanding has become a contentious and significant one. Its importance has been realized largely because there is increasing intricacy of financial products and also the increasing accountability and liability of people with respect to their own financial well-being. It is imperative to note that knowledgeable, financially educated customers are more capable of making proper decisions for their households and as a result are better suited to enhance their economic and financial security and welfare (Hilgert and Hogarth, 2003). What is more, in accordance to behavioral economics, psychology plays a significant role in the financial and economic decisions made within the household. For instance, consumers with a great amount of money will spend less as compared to consumers with smaller amounts. The same…
As a customer, I will expect quality services from BDO.
Mutual funds portfolio turnover is one of the easily explained investment qualities for investors. While expressed as percentages, it shows the portion of securities in the fund's portfolio of those sold and bought in a year. All these information is found in the reports and financial statements we present. When the lower percentage figure is reported, it will equate to a long portfolio-holding period. For example, if the turnover is 10% it means that the portfolio would be reconstituted after five years. On the other hand, when the turnover is 100% the portfolio will be reconstituted in one year. I will select one with 100% turnover because it can be reconstituted in a period of only one year (Feldman & Libman, 2011, p. 43). This will be economical and profitable instead of waiting for a long period to be reconstituted.…
Feldman, M. & Libman, a. (2011) Crash Course in Accounting and Financial Statement Analysis. Brooklyn, NY: John Wiley & Sons.
Epstein, L. (2012). The Business Owner's Guide to Reading and Understanding Financial Statements: How to Budget, Forecast, and Monitor Cash Flow for Better Decision Making. Brooklyn, NY: John Wiley & Sons
Chief Financial Officer (CFO) in most corporations, both public and private, has expanded exponentially in recent years (Favaro, 2001). Compliance requirements and increased dependence on accounting information has caused the role of the CFO to take on increased importance.
The role and responsibilities of the CFO vary from corporation to corporation and there is no hard and fast rule as to what the role and responsibilities of a CFO might be (Farag, 2011). Such roles and responsibilities can be extensive but there are essentially five major roles that nearly every CFO fills in the modern corporation. The first such role is to participate fully in the leadership of the corporation. In this role, the CFO, using his knowledge of accounting rules and principles, contributes to the overall corporate strategy and assists in formulating policy for the organization.
The second role filled by the CFO is to be actively involved in…
Farag, H. (2011). Evolving Capital Markets and the Changing Role of the CFO. In T.S. Environment, Ulrich Hommel (pp. 127-141). New York: Springer .
Favaro, P. (2001). Beyond bean counting: The CFO's expanding role. Strategy & Leadership, 4-8.
Zhang, I.X. (2007). Economic Consequences of the Sarbanes-Oxley Act of 2002. Journal of Accounting and Economics, 74-115.
Responsibilities of CFO
Accounting 201 and Finance301:
Discussion Question: Discuss FASB and IASB. Comment on at least two specific aspects of the two standard setting boards and their role in setting accounting standards. Also, watch 2 provided YouTube videos and post comments.
FASB and IASB
The Financial Accounting Standards Board (FASB) was established in 1973 to set and improve accounting and reporting standards for private sector U.S. entities (Financial Accounting Standards Board, n.d.). Though the Securities Exchange Commission (SEC) has the power to set standards for publicly held companies, it relies on private organizations to set and improve standards, and the SEC officially recognizes the FASB's standards as legitimate standards for nongovernmental entities in the U.S. The FASB is independent of any business or organization so it can carry out its duties fairly and impartially. In order to carry out its mission, the FASB publishes the FASB Accounting Standards; along with…
Agilent Technologies, Inc. (2014). Annual Reports. Retrieved November 27, 2014 from www.investor.agilent.com Web site: http://www.investor.agilent.com/phoenix.zhtml?c=103274&p=irol-reportsannual
Agilent Technologies, Inc. (2014). Company Information. Retrieved November 27, 2014 November 27, 2014 from www.agilent.com Web site: http://www.agilent.com/about/companyinfo/index.html
CFO Studio. (2012, April 2). David Mudrick - CFOs becoming CEOs . Retrieved November 27, 2014 from www.youtube.com Web site: https://www.youtube.com/watch?v=E2GxuhDRVYg
CFO Studio. (2012, February 1). Ron Gaboury - CFOs becoming CEOs . Retrieved November 27, 2014 from www.youtube.com Web site: https://www.youtube.com/watch?v=y5HkWah-bfs
financial comparison of Pepsi and Coke. The comparison of the two companies is facilitated by the use of GAAP, which means that the financial statements of the two companies are constructed, broadly, according to consistent methodologies and criteria. As a result, there should be direct comparability between the statements of these two companies.
Two main techniques will be used for this comparison. The first is horizontal analysis, where the results of the company are compared against past results from the same company. The second is vertical analysis, where the results of each company are compared on a year-over-year basis according to how the different line items are weighted. The two companies can also be compared on this basis. Horizontal analysis allows the two companies to be compared on the basis of which company is growing faster or controlling costs better. The vertical analysis allows the two companies to be compared…
Overall, it is reasonable to conclude that the trends in the financials of these two companies favor PepsiCo, simply because the company appears to have responded to its financial challenges more quickly. For example, Pepsi had a massive increased in selling, general and administrative expenses in FY2010, but recovered to contain those expenses in FY2011. Compare this with Coca-Cola, where the firm's selling, general and administrative expense increased significantly in FY2011. It is worth considering, however, that the trends we are seeing may be reversed in the coming 2012 fiscal year. Both companies have the opportunity, having identified negative trends, to reverse those trends with solid financial management. When sales increase at a relatively slow rate, the best response is to cut the costs more rapidly. Both of these firms appear to take the view that revenues are cyclical and therefore it is not important to worry about slowdowns, but that is not the case at all. Both firms need to be more aggressive, because the vertical analysis shows that expenses as a percentage of revenues are increasing. This means that both companies have seen their margins reduced over the past couple of years.
Both Pepsi and Coke have had trouble recently on account of costs that are increasing much faster than revenues. However, we can see from this analysis that the costs associated with PepsiCo have been contained better than the costs that Coca-Cola faces. This tells us that Pepsi may well be responding better to a negative environment than Coke is. The company has maintained its margins better and in general outperformed its rival, based on horizontal and vertical analysis, over the past couple of years.
Financial Stakeholders in a Business
Main financial stakeholders, their power and influence in a business
Stakeholders refer to people affected or have an interest in the objectives and operations of the business. The business has a variety of stakeholder segments, which have been broadly categorized as follows:
The classification of stakeholders varies in terms of interests to the activities of the business and their power to influence key decisions. The fact is that key stakeholders do not enjoy equality in terms of their influence and power. This is evident across all business sectors. Senior managers tend to have more influence compared to mere environmental activists (Schaltegger & Burritt, 2010). The table below defines the main financial stakeholders and their impact on the business:
Main financial stakeholders
Impact on the Business
Dividends, share price growth and profit growth
Election of directors
Banks & other Lenders
Principal and interest…
Cowton, C., & Haase, M. (2008). Trends in business and economic ethics. Berlin: Springer.
Dawkins, S. (2007). CIMA Exam Practice Kit Management Accounting Decision Management: 2007 Edition. Burlington: Elsevier Science & Technology.
Dayananda, D. (2012). Capital budgeting: Financial appraisal of investment projects. Cambridge [u.a.: Cambridge Univ. Press.
Lewis, R., & Trevitt, R. (2013). Financial accounting. Cheltenham: Nelson Thomas.
status of women in the pre and post revolutionary days. The paper also touches upon the current status of women to show how the changes that took place in the 19th century finally affected the life of American women in the 20th century.
THE STATUS OF WOMEN IN AMEICA IN THE 17TH AND 19TH CENTUIES
Women in the United States have worked hard to achieve some sort of equality to their male counterparts in every field of activity. Social economic and political conditions have undergone a massive change since the country attained freedom in 1776. Women were a significantly oppressed section of the society in the 17th and 18th centuries, there were no voting rights for them and they were kept out of armed forces and other businesses. This resulted in lack of economic resources for women, which further lowered their position in the country, as they had to depend…
VIRGINIA ROHAN, Staff Writer, AMERICAN HISTORY'S GLASS CEILING., The Record (Bergen County, NJ), 11-07-1999, pp y01
Turshen, Meredith, Missing the miracle. Vol. 14, Women's Review of Books, 01-01-1997, pp 19-20
BEST AND WORST STATES FOR WOMEN EMPHASIZE ECONOMIC & POLITICAL DISPARITIES AMONG STATES., U.S. Newswire, 11-19-2002
Status of women in America, http://www.iwpr.org
status of Australia's external position, we should first briefly explain the sign conventions, as they are presented in the explanatory notes 3 to 5. As such, International investment position statistics follow the sign convention used in the balance of payment: for foreign assets, "position data and any transaction increase or other flow increase in assets is shown with a negative sign." This is why all the positions noted as Australian investment abroad are marked with a negative sign, so as to show a cash flow leaving the country.
At the end of the analyzed period (September Quarter 2003), the total Australian investment abroad amounted for $477,188 million, an increase of almost $14,000 million from the beginning of the period (around 3%). The main components of the investment abroad are direct forms of investment (such as equity capital and reinvested earnings) and portfolio investment assets, these two forms of investment accounting…
Hindu society dictates that once a girl is married, she no longer belongs in the home of her parents and her husband's home is her entire future. She may never return to her maternal home on a permanent basis, for that would bring shame upon her in Hindu society. This is the reason why Hindu weddings are always characterized by much weeping as the girl ceremoniously bids farewell to her ancestral home. Her husband becomes her God, his home becomes her home and her life is dedicated to serve him and obey him. In the absence of the support of her maternal home, dowry was provided as a means to provide for the girl's new family needs in the event of a financial crisis. However, over the years this practice has degenerated into a mercenary enterprise, where a premium is placed on a male and the woman is bought and…
Narayan, Vasundra: http://college.hmco.com/history/readerscomp/women/html/wm_016100_hinduism.htm
Malhotra, Rajiv: (2000): http://www.infinityfoundation.com/ECITempowermentframe.htm
Dollar, David and Gatti, Roberta: (1999): Gender Inequality, Income and Growth: Are good times good for women?: www.worldbank.org/gender/prr
O'Henry, Edward: THE JAYAMALA RITE in EASTERN NORTH INDIA: OUTSIDERS' and INSIDERS' MISUNDERSTANDINGS, Department of Anthropology, University of Houston, Houston, TX 77204-5020 http://www.unm.edu/~jar/v59n4.html#a4
Status of Women in Choson Dynasty
The status of women in the Choson dynasty is not worthy of discussing but of pitying. Women used to have two ranking in this dynasty, one that of a sex slave, and the other one, if the woman has brains and is lucky, was that of a power manipulator (Park, 4). Either women were highly regarded due to their social status or the relationships with that of high ranking officials or the royals or they were taken up as things that need not be cared but used, as many sex scandals and coercive seductions in the history of the Choson dynasty represents.
To cite briefly, women were the most repressed in this dynasty, many restrictions, though still prevail today, they are the outgrowth of the older laws and rules that binds women to obey the laws that are today proclaimed as against…
Kendall, Laurel, and Mark Peterson, ed. (1983) Korean Women: View from the Inner Room. New Haven: East Rock Press, pg. 28-39.
Kim, Yung-Chung, ed. (1979) Women of Korea: A History from Ancient Times to 1945. Seoul: Ewha University Press, pg. 33.
Mattielli, Sandra, ed. (1977) Virtues in Conflict: Tradition and the Korean Woman Today. Seoul: Samhwa, pg. 145-190.
Park, Young-hai, ed., (1986) Women of the Yi Dynasty Seoul, Korea: Research Center for Asian Women, Sookmyung Women's University, pg. 4.
Research conducted to date for example suggests that, for consortia-based procurement exchanges and Sector Procurement Collaboratives the bargaining power of representing multiple groups of buyers and their collective purchasing power provides economies of scale and leverage in bargaining with suppliers (Devine, Dugan, Semaca, Speicher, 2001). The motivations of purchasing consortia are primarily focused upon gaining expected cost savings and collect information on supply markets (Tella, Virolainen, 2005). Although perfectly in line with accepted marketing views and strategies, there is a gap in this research, which does not take into account the long-term effects of inter-process maturity and transaction velocity over time.
According to Johnston et al. (2003, p. 23), the recognition of trust as an important part of the buyer-supplier relationship does not preclude fact of paucity of empirical evidence to suggest the level of such importance. Trust and its dependent behaviors, as well as its impact on inter-organizational activities,…
Matthew G. Anderson, Paul B. Katz. (1998). Strategic sourcing. International Journal of Logistics Management, 9(1), 1-13. Retrieved June 13, 2009, from ABI/INFORM Global database. (Document ID: 34024516).
Chad W. Autry, Susan L. Golicic. (2009). Evaluating buyer-supplier relationship-performance spirals: A longitudinal study. Journal of Operations Management
Markus Biehl, Wade Cook and David a. Johnston (2006). The efficiency of joint decision making in buyer-supplier relationships. Ann Oper Res, 145, 15-34.
Nicolas Bloch, Thierry Catfolis. (2001). B2B E-marketplaces: How to succeed. Business Strategy Review, 12(3), 20-28.
Funding Juvenile Justice Programs
Juvenile Justice Budget Cuts
The State of Funding for Juvenile Justice Programs
States facing budget crises have been forced to cut back on a variety of social programs, including those designed to help juvenile offenders get the help they need to become positive contributors to society. A quick search on the internet for news stories about cuts at the state level reveals widespread concern about what impact this trend will have on future society. At the federal level, the Obama administration has proposed a cut in federally-funded youth mentoring program and increases for prevention programs (Youth Today, 2012). This essay will examine whether leaving juvenile offender to fend for themselves is good public policy.
Juvenile Offender Program Effectiveness
A 2009 statistical analysis of all studies examining the effectiveness of juvenile justice programs found that overall; recidivism is reduced by a statistically significant 6% (Lipsey, Howell, Kelly,…
JJA (Kansas Juvenile Justice Authority). (2012). Provider Handbook. Juvenile Justice Authority, State of Kansas. Retrieved 26 Jan. 2013 from http://www.jja.ks.gov/documents/ProviderInfo / JJA_Provider_Handbook_June2012.pdf.
JJA (Kansas Juvenile Justice Authority). (2013). Larned Juvenile Correctional Facility. JJA.KS.gov. Retrieved 26 Jan. 2012 from http://www.jja.ks.gov/facilities_larned.html.
Lipsey, Mark W., Howell, James C., Kelly, Marion R., Chapman, Gabrielle, and Carver, Darin. (2010). Improving the Effectiveness of Juvenile Justice Programs: A New Perspective on Evidence-Based Practice. Center for Juvenile Justice Reform, Georgetown University. Retrieved 25 Jan. 2013 from http://cjjr.georgetown.edu/pdfs/ebp/ebppaper.pdf.
Marso, Andy. (2012, Sep. 19). Proposed juvenile justice cuts vex local board. CJOnline.com (Topeka Capital-Journal). Retrieved 26 Jan. 2013 from http://cjonline.com/news/2012-09-19/proposed-juvenile-justice-cuts-vex-local-board .
Why that Dollar in Your Pocket is More than just a Piece of Paper
Money in contemporary society has taken a primary role in life. It affects everything from the quality of a person's social life to the quality and quantity of available food. elow the history, value and use of money are considered.
The first system of economy was a barter system. ecause of issues such as double coincidence of wants as a necessary condition of trade, acquiring goods by this system was often costly in terms of time and effort. In order to reduce transaction time, a money system emerged. The first money emerged in the form of goods. Goods that evolved into money were those that were generally accepted in exchange for goods. Livestock and grain are examples of goods that became money during the years of around 9000-6000 C. Cattle are estimated to probably be…
Beggs, J. "Euro Under Pressure but Recovery is in The Wind." Euro Economy & Financial Markets,
Beggs, J. "Euro Interest Rates Have Further to Go." Euro Economy & Financial Markets,
Beggs, J. "Sterling Under Pressure." UK Economy & Financial Markets,
Bischoff, B. "Consumer Action: The New Conversion Rules." In SmartMoney.com, October 21, 1998.
This is also reflected in the view that there is a lot of difference between a high school senior and a college freshman. egarding the world of student journalism, the U.S. Court of Appeals has also agreed with this view. This is reflected in the campus newspaper theft which was not taking place till the beginning of the 1990s. This is now a regular source of trouble for college student media. (Trends in College Media)
At the same time, this has not reflected in the quality of college newspaper, and some of them are of excellent quality. Let us look at some college newspapers for this purpose. One of them, namely the Boston College Chronicle has worked on the recently concluded papal conclave and also tried to inform the audience about what the world can hope from the new Pope. Certainly this information when they appear in a college magazine…
Censorship of College Student Newspapers. Administrative Censorship of the College Press. Retrieved at http://www.collegefreedom.org/report5.htm . Accessed on 28 April, 2005
CSU, Northridge Newspaper Silenced. 11 May, 1989. Retrieved at http://www.totse.com/en/conspiracy/institutional_analysis/papcensr.html . Accessed on 28 April, 2005
Davisson, John. GSEU Strikers Return to the Classroom. 25 April, 2005. Retrieved from www.columbiaspectator.com/- 32k Accessed on 28 April, 2005
Glaser, Dale; Collins, King. Review of Eagle and the Controversy of 1996-1997. Retrieved from www.greenmac.com/eagle/Updates/Up2.html. Accessed on 28 April, 2005
Immigration in Europe
The issue of immigration in Europe has become one of the pressing subject matters especially for governments within the European Union. In contrast to the United States which has experienced immigration for centuries, for Europe this issue is of a recent demographic inclination since the past five decades or so. There are several migrants who make an attempt to move into Europe and settle there. This particular paper will seek to discuss three immigrant groups that form the majority of the immigrants who seek to enter the EU borders. These three immigrant groups include Syrians, Afghans and Eritreans.
Immigrant Groups and their Push and Pull Factors
There are numerous physical, social and economic reasons and factors that play a great role in the reason as to why people migrate to different nations or expanses and these factors can be normally categorized as 'push' and 'pull' factors. In…
BBC News. "Why is EU struggling with migrants and asylum? September 2015. Retrieved online from: http://www.bbc.com/news/world-europe-24583286
Collett, Elizabeth. "Immigrant integration in Europe in a time of austerity." Washington, DC: Migration Policy Institute, 2011.
Eliott, Sarah. "The push and pull of the world's most dangerous migration route -- what's really behind the flock of thousands to Europe these days?" Politics Inspires, 2015.
Giovagnoli, Mary., Yale, Samantha. "New Study on Immigrant Integration Compares and Ranks the United States, Canada, and Europe" American Immigration Council, 2011.
Financial Statement Analysis
In this particular essay, I undertake the financial analysis of five companies, all of which are set in the retail industry. Three of the companies, Tesco Plc, Sainsbury's and Wm Morrison Supermarkets plc are some of the largest food retailers in the United Kingdom. Ocado which is the fourth company is the largest online food retailer in the whole world and lastly Crawshaw Group PLC is also in the business of operating a chain of retail food stores. Every company will be discussed individually and it will encompass information regarding the history of the company, the products and the services, the consumers and also other information.
Tesco Plc is a company that is based in Britain and is the largest food retailer in the United Kingdom. It is one of the biggest retailers in the globe as it is the third in position in the retail industry…
Accounting for Management. (2014). Return on common stockholders' equity ratio. Available: http://www.accountingformanagement.org/return-on-common-stockholders-equity-ratio/
Bloomberg. (2015). Crawshaw Group Plc company information. Retrieved from: http://www.bloomberg.com/research/stocks/snapshot/snapshot.asp?ticker=CRAW:LN
Bloomberg. (2015). Wm Morrisons Supermarket plc. Retrieved from: http://www.bloomberg.com/research/stocks/snapshot/snapshot.asp?ticker=MRW:LN
Investigating Answers. (2014). Operating Leverage. Available: http://www.investinganswers.com/financial-dictionary/ratio-analysis/operating-leverage-2795
Business Plan for a Financial Divorce Software
Business Plan Divorce Software
Business Plan relating to the Sales of a new Financial Divorce Software.
Business Plan relating to the Sales of a new Financial Divorce Software
Keys to Success
Legal Form of Ownership
Location and Facilities
Products and Service
Ps of Marketing
Financial Statements and Projections
evenue and Cost Estimate
Forecasted Profit and Loss Statement
Forecasted Balance Sheet
Financial planning is involved in every aspect of life. Individuals and businesses have to formulate their daily, monthly, and yearly budgets in order to achieve a balance between their incomes and expenditures.…
Association of Divorce Financial Planners, (2012). Divorce Financial Planning. Retrieved on July 7th, 2012, from
Blythe, J. & Megicks, P. (2010). Marketing Planning: Strategy, Environment and Context, 3rd Edition. U.K: Prentice Hall
Cadle, J., Paul, D., & Yeates, D. (2010). Business Analysis, 2nd Edition. Swindon: British Informatics Society
Francis, P. (2010). Creating the Marketing Executive of the Future Using Key Deming Principles, Journal of Executive Education, 9 (1): 127-138
International Financial Markets and Institutions:
Throughout the globe, today's landscape of international financial market and institutions has continued to experience several changes that require practitioners to examine new models. The need for practitioners to examine new models that are relevant to the state of these markets and institutions has also been necessitated by the recent events that contribute to financial crises, which have been very dramatic. Actually, the recent financial crisis has had significant impacts on the financial institutions and markets resulting in the need for changes. International financial markets and institutions have become an important aspect of economies because they affect daily life. This is primarily because they involve the huge flow of different types of funds in the entire economy that in turn impact the profits of businesses, production of goods and services, and economic well-being of countries. In some cases, the events in these institutions and markets…
Accounting Education (2010), International Capital Market, Accounting Education, viewed 7
Australian Securities Exchange (n.d.), Absolute Return Funds, Australian Securities Exchange,
viewed 7 June 2012,
The reduction in liabilities represents a move to reduce financial leverage in a period of tightening credit and risk profiles. The cash build-up too is an assertive move to combat liquidity concerns and build structural soundness to the balance sheet. AMD management implicitly understood that their internal financial condition was threatening to unravel the company with stagnant revenues and bloated expenses. As such the repositioning of AMD to take advantage of new revenue opportunities in their fusion process technology was an important step. Add to this a streamline of operations to improve the income statement, a strengthening of the balance sheet through targeted asset increases and strategic debt reductions; and the result are 2010 financial statements which show AMD "achieved many financial milestones: increasing revenue 20% year-over-year, restructuring the balance sheet, reducing overall debt, improving gross margin and delivering positive adjusted non-GAAP free cash flow" (AMD Annual eport. 2010)
Advanced Micro Devices. AMD. (2009). 2009 Annual Report. Advanced Micro Devices.
Retrieved September 19, 2011 from http://phx.corporate-ir.net/External.File?item=UGFyZW50SUQ9MzI2ODh8Q2hpbGRJRD0tMXxUeXBlPTM=&t=1
Advanced Micro Devices. AMD. (2010). 2010 Annual Report. Advanced Micro Devices.
Retrieved September 19, 2011 from http://phx.corporate-ir.net/External.File?item=UGFyZW50SUQ9ODUyNDV8Q2hpbGRJRD0tMXxUeXBlPTM=&t=1
Kuali Financial System is a comprehensive administrative suite designed to incorporate the needs of universities, colleges, commercial firms, and interested organizations that share a common interest of open, modular, and distributed systems in a cheaper, more efficient way. The system is designed to meet the individual needs of each organization that can be implemented for efficiency. The software package contains internal controls that administration can implement for the organizations needs where transactions are input one time and the information is routed to every individual who needs it, including persons who need to approve the transactions, persons who just need to know, and persons who use the information to prepare various reports.
The system can be implemented with administrative controls and features that are unique to the organization. The administrator can dictate in the system the work flow process, internal controls on where information flows, approval mechanisms, including primary and secondary…
The Kuali Financial System: Community-Developed Software for Education. (2010, May). Retrieved from Delta College: http://deltacollege.edu/dept/business/kfs/documents/KFS%2-%20Community%20Developed%20Software%20for%20Education.pdf
Hollamon, A. (2007, Apr 23). Kuali Workflow Arizona. Retrieved from The University of Arizona: http://confluence.arizona.edu/confluence/display/KUALI/What+is+Kuali+Enterprise+Workflow
McNeely, K.T. (2006, Feb). A Flexible Financial System. Retrieved from National Association of College and University Business Offices: http://nacubo.org/Business_Officer_Magazine/Magazine_Archives/February_2006/A_Flexible_Financial_System.html
Financial Projections for Touch My Knuckles
Touch My Knuckles, a firm selling mixed martial arts appeal, including shirts, fleeces, hats and sweatshirts will provide a great potential for investment. The aim of this paper is to look at the financial statements for the first three years of operating, including start-up costs, cash flow, income statement and balance sheet. Following the financial analysis consideration will be given to the way in which the may be raised an issue of capital structure.
The following financial statements indicate potential of the business. The financing being requested in $248,560, this can been calculated with reference to the start up costs, less the available capital, with an allowance of the operating loss that will be made in the first month.
The start up costs are relativity modest due to the use of outsource suppliers who will send the goods directly to the…
Despite the highly purposeful construction of the annual report, however, there are no inaccuracies or deliberate attempts to mislead investors immediately apparent in MD's assessment of its financial situation, and indeed the annual report provides an excellent roadmap for the company's decision-making process during the year. Its divestment of certain operations was a direct response to the reduced capital -- through heightened repayment obligations and the loss in sales -- that the company experienced and continues to predict for the immediate future (MD 2009). Other company decisions were likewise based on appropriate and immediate recognition of and response to financial data.
t the same time, some of the financial figures that MD presents in its annual report show operating losses extending back several years before the onset of the recession, in some departments (MD 2009, pp. 60). The company's responsiveness to this issue seems to have been slower…
At the same time, some of the financial figures that AMD presents in its annual report show operating losses extending back several years before the onset of the recession, in some departments (AMD 2009, pp. 60). The company's responsiveness to this issue seems to have been slower than the annual report indicates; though the organization was spurred into restructuring and divesting itself of some of its less profitable operations by the recession, some of these problems existed previously. The new partnerships that the company formed during the year also seem to be the result of analysis of rising operating costs, especially when paired to the reduced sales and income that the company experienced during 2008. Most of AMD's decision-making appears to come form an analysis of projected (and real) costs and income; it was not until the recession severely hurt income levels that the extra costs the company was accruing became a significant problem.
Many of the major decisions made by AMD in 2008 were, of course, the result of complex and long-term analyses that are beyond the scope of the current paper. Even a brief analysis of the 2008 annual report, however, demonstrates the company's reliance on and utilization of financial data and analyses. It is only with accurate and complete information that responsible and effective decisions can be made, by both investors and the company itself, and AMD definitely strives to provide that in its annual report. This does not prevent the company from presenting the information in such a way that puts it in an advantageous light, however.
In this case there are differences due to the income level of the person who is replying.
The Americans who are making more than $34,000 a year generally say that the persons getting aid from welfare could manage their own lives without help from the government if they really tried, while the replies from the lower income groups feel that they could not manage. This continues on in the opinion of the comparatively richer group to say that the people getting poverty assistance could manage without assistance as they get the assistance without having to do anything for it. This continues on with persons having little knowledge of the changes in law that has come up. Only half the respondents were aware of the changes in the law. However of the persons who are aware of the changes in the law 61% think that the new law is working well,…
America's most costly welfare recipients are Fortune 500 companies. Cato Institute News Releases. June 30, 1999. Retrieved at http://www.cato.org/new/catonew-06-99.html . Accessed on 30 June, 2005
Bumpass, Larry. Ryder, N.B. The Changing Contexts of Parenting in the United States. Retrieved at http://parenthood.library.wisc.edu/Bumpass/Bumpass.html . Accessed on 29 June, 2005
Cauchon, Dennis. State, local spending up despite downturn. USA Today. 14 January, 2003. Retrieved at http://www.usatoday.com/news/nation/2003-01-14-state-budgets-usat_x.htm . Accessed on 30 June, 2005
Danziger, Sheldon; Loury, Glenn; Murray, Charles; Wilkins, Roger. Does Welfare Cause Illegitimacy? 9 April, 1994. Retrieved at http://www.mugu.com/cgi-bin/Upstream/murray-loury-welfareAccessed on 29 June, 2005
It may be most appropriate when there is a question of adding a new service or getting rid of a current service, but makes less sense for a department which is expected to continue in service.
Incremental budgeting is a part of the rolling forecast system. If there is a sudden spike in revenue, for example, it may make sense to do an incremental budget to take into account the new variable.
-down budgeting means that the CEO or CFO dictates how much money is present, and allocates it to each department. This has the benefit of control of expenditures, but the drawback that the department managers feel no responsibility to hew to a budget in which they had little or no input.
A s-up: This method starts at the department level and builds to an overall picture. While each department may want to have its needs fulfilled, there needs…
Economist. (2007, January 18). The Ivory Trade. Economist, p. n.p.
Fleisher, C.S. (1991). Using an Agency-Based Approach to Analyze Collaborative Federated Interorganizational Relationships. Journal of Applied Behavioral Science, 116-130.
Malkiel, B. (1996). A Random Walk Down Wall Street. New York: WW Norton.
Robinson, J.C. (1997). Physician-Hospital Integration and the Economic Theory of the Firm. Medical Care Research and Review, 3-24.
Because the home country is not required to reimburse foreign depositors for losses, there is no corresponding financial penalty for lax supervision; there is, though, a benefit to the country with lenient regulatory policies because of increased revenues generated and the employment opportunities these services provide (Edwards 1999). Furthermore, banks seeking to conduct multinational business are attracted to countries where incorporation laws and the regulatory framework offer less regulatory oversight (Edwards 1999). The quid pro quo nature of offshore financial services is clearly indicated by Edwards's observation that, "Multinational banks provide the offshore financial centre with increased tax revenue and employment for its citizens. Because the benefits outweigh the costs, offshore financial centres have a powerful incentive to maintain lenient regulatory policies. As a result, multinational banks incorporated in an offshore financial center successfully avoid supervision by an effective home country regulator" (1999, p. 1267). Given the scope of the…
Black's Law Dictionary. (1999). St. Paul, MN: West Publishing Co.
Boise, C.M. & Morriss, a.P. (2009). 'Change, Dependency, and Regime Plasticity in Offshore Financial
Intermediation: the Saga of the Netherlands Antilles.' Texas International Law Journal, vol. 45,
no. 2, pp. 377-379.
Also, on April 1, 2004, Sony recognized a charge of 4,713 million yen (net of income taxes of 2,675 million yen) as a cumulative effect of an accounting change. (Form 20F Year Ended Mar. 31, 2008)
22.214.171.124 During the quarter ended December 31, 2004 Sony adopted EITF Issue No. 04-8 which requires that the maximum number of common stock that could be issued upon the conversion of contingently convertible debt instruments be included in diluted EPS computations from the date of issuance regardless of whether the conditions to exercise the stock acquisition rights have been met. As a result of the adoption of EITF Issue No. 04-8, Sony's diluted, Sony's diluted EPS of income before cumulative effect of an accounting change and net income for the fiscal year ended March 31, 2005 decreased by 7.26 yen and 7.06 yen, respectively, as a result of adopting EITF Issue No. 04-8. (Form…
Documents submitted to the SEC (EDGAR) Form 20F and others. http://www.sony.net/SonyInfo/IR/library/sec.html
Health Care Finance
Financial analyst Eric Feigenbaum (2009) notes that while we like to think of hospitals in terms of compassion, patient care and dedication to altruistic aims, they are businesses concerned with revenues and expenses like any other business (Feigenbaum 2009, p.2). In today's hectic world of economic downturn and financial struggles felt from individuals of every demographic and social status, revenue and expense accounting are issues that must be addressed carefully by nearly every business in every market. The same holds true for the health care industry and health care providers. With financial uncertainty come threats for health care providers in managing revenue and expenses during the upcoming years. However, with these threats remain certain opportunities for health care providers to take on in order to combat the uncertainty that comes with managing revenue and expenses when the amount of each is not ideal.
With the appropriate management…
Bristow, W. (2009). How to thrive during a recession. Doctor's Digest. 81(1): p.16.
Retrieved from: LexisNexis Database.
Feigenbaum, E. (2009). Categories of expenses and revenues in the hospital business setting. Demand Media, 2(1), pp. 2-5. Retrieved from: ProQuest Database.
Johnson, N., McNichol, E. And Oliff, P. (2011). Feeling the recession's impact on health care. Handbook of Health Economics 3(2), pp. 54. Retrieved from: ProQuest Database.
Accounting Process and Financial tatements.
A reliable internal system of accounting is an essential element of a solvent profit or nonprofit business entity. By recording virtually every business activity or endeavor, with regards to the creation of monetary inflows of sales revenue and monetary outflows of expenses resulting from operating activities; an accounting system should provide the financial information needed to evaluate the profitability or effectiveness of past and operations. Along with maintaining data for reporting purposes, an effective accounting system will effectively report the status of asset resources, creditor liabilities, and ownership equities of the business entity. With today's rapid and ever expanding technological developments have lead to increasing operating speeds, convenient data storage capabilities, reliability and significantly reduced costs.
Historically, maintaining an effective accounting system involved extensive manual labor which was described as tedious, aggravating, and time exhaustive. Recording transactions, adding subtracting, summarizing, and checking for errors were…
BASIC FINANCIAL ACCOUNTING REVIEW: media.wiley.com/product
Smith; Outlines & Highlights for Financial Accounting Basics. AIPI; 3 edition (October 19, 2006).
Stickney, Clyde P., Weil, Roman L.; Financial Accounting: An Introduction to Concepts Methods, and Uses. South-Western College Pub; 10 edition (July 2, 2002).
Maher, Michael W., Stickney, Clyde P., Weil, Roman L.; Managerial Accounting: An Introduction to Concepts, Methods and Uses. South-Western College Pub; 10 edition (March 13, 2007)
Cox Communications Telecommunications Innovation
Status of the Sustainability Movement
The telecommunications industry, supported by the United Nations and the International Telecommunications Union, launched a formal cooperative effort to promote sustainable business practices and technology in June 2001. The Global e-Sustainability Initiative (GeSI) was officially launched on World Environment Day with the vision "to help improve the global environment and to enhance human and economic development, and thereby make a key contribution to a global sustainable future" (Thomsen, 2001).
This industry-wide initiative was significant in that its founders included some of the biggest global players: AT&T, British Telecommunications, Cable and Wireless, Deutsche Telekom, Ericsson, Lucent Technologies, Marconi, Telcordia Technologies, Telenor as, and the European Telecommunications Network Operators Association. Members implemented various programs to achieve environment-friendly business practices. For example, British Telecommunications calculated that employee use of audio and video conferencing contributed to saving over one million tons of CO2 emissions the…
AT&T investments in sustainability yield results in 2010. (2011) Fierce Telecom. Retrieved June 9, 2011 from http://www.fiercetelecom.com/press_releases/att-investments-sustainability-yield-results-2010
Adelman, T. (2010). For telecom industry, energy efficiency is only half the equation. . Retrieved June 7, 2011 from http://www.environmentalleader.com/2010/11/08/for-telecom-industry-energy-efficiency-is-only-half-of-the-equation/
Bakrie Telecom is the pioneer of green business. 2011. The Jakarta Post. Retrieved June 7, 2011 from http://bataviase.co.id/node/648347
Bardelline, J. (2011). ULE creates sustainability standard for cell phones. Greenbiz.com Web site. Retrieved June 7, 2011 from http://www.greenbiz.com/news/2011/01/06/ule-creates-sustainability-standard-mobile-phones
190). The Act also helped to create a "too-big-to-fail" mindset (Walter, 2004) that would have profound implications during the economic downturn of 2008 and beyond.
Why did you include this piece of legislation in your list? The Act is described by Sammin (2004) as being "the biggest revision in financial services law since the Great Depression" (p. 653).
iegle-Neal Interstate Banking and Branching Efficiency Act of 1994
What were the problems/conditions giving rise to the legislation? apid consolidations among the nation's banks were creating the potential for diverting needed banking resources from communities (ose, 1997).
What were the major provisions of the Act? The iegle-Neal Interstate Banking and Branching Efficiency Act of 1994 (hereinafter "the Act") contained the following major provisions:
A. Bank holding companies that are adequately capitalized and managed can acquire a bank anywhere in the United States one year after this law is enacted.…
Alexander, K., Dhumale, R. & Eatwell, J. (2006). Global governance of financial systems: The international regulation of systemic risk. New York: Oxford University Press.
Coustan, H., Leinicke, L.M., Rexroad, W.M. & Ostrosky, J.A. (2004). Sarbanes-Oxley: What it means to the marketplace; from support to apprehension, accounting professionals express their thoughts. Journal of Accountancy, 197(2), 43-44.
Feinberg, R.M. & Reynolds, K.M. (2010). An examination of entry and competitive performance in rural banking markets. Southern Economic Journal, 76(3), 624-625.
Gup, B.E. (2003). The future of banking. Westport, CT: Quorum Books.
Google and Microsoft Financials
Strayer University Assignment 5 Financial management Bus 508 Google, aleader internet information searching, challenged big manes internet technology.Compare contrast Google's business model financial management Micrsoft's, launched Bing
Google and Microsoft financial and business performance
The increase in internet users and technological advancement has made Microsoft and Google record increased number of customers. The success of any company will entirely be dependent on the financial position and financial records it pose. "With intense competition, managers and stakeholders have to develop and adopt strategies that ensure growth in market share and growth in the profits" Foley, 2008.
Google is one of the companies that has recorded growth in performance and increased the number of users within the shortest period. It is also important to note that the company was not adversely affected by the economic recession that hit companies across the globe.
In analyzing the financial performance…
Foley, M.J. (2008). Microsoft 2.0: How Microsoft plans to stay relevant in the post-Gates era. Indianapolis: John Wiley & Sons.
Lowe, J. (2009). Google speaks: Secrets of the world's greatest billionaire entrepreneurs, Sergey Brin and Larry Page. Hoboken, N.J.: John Wiley & Sons.
Porter, G.A. (2009). Financial accounting: The impact on decision makers Toronto: Nelson Education.
Rittinghouse, J.W., & Ransome, J.F. (2010). Cloud computing:Implementation, management, and security. Boca Raton: CRC Press.
Today's financial environment makes business analysis difficult and hard to predict. Globalization and rapid changing trends dominate business news and affect both Wall Street and Main Street in different yet substantial ways. ank of America is a very popular topic of discussion in today's world of economics and global markets. The business environment ank of America currently lives within is rapidly changing and fiercely competitive. ank of America is seemingly in much trouble today in many different ways. The purpose of this essay is to discuss the business environment ank of America operates within, and compare and contrast its practices and procedures with its competitors.
A useful tool in understanding the financial health of any particular corporation begins with looking at its financial statements. Income statements, balance sheets and cash flows often determine the financial health of any particular company. ank of America's financial statements are…
Bank Of America Corporation Financial Statements. Yahoo Finance. Retrieved from http://finance.yahoo.com/q/ks?s=BAC+Key+Statistics
Bank of America Corporation Competitor Analysis. Daily Finance. Viewed on 3 June 2011 from http://www.dailyfinance.com/company/bank-of-america-corporation/bac/nys/top - competitors
Bradford, G. (2011). Why you should avoid these 6 banks. Seeking Alpha June 2011. Retrieved from http://seekingalpha.com/article/273420-why-you-should-avoid-these-6-banks
Citigroup, Inc. Financial Statements. Yahoo Finance. Retrieved from http://finance.yahoo.com/q/ks?s=C+Key+Statistics