Research Paper
Undergraduate
International accounting standards and practices
The need for translation arises for reasons described above: transparency, accuracy, and relevance all demand that a consistent set of values and valuations be used. Without such translation, it would be all but impossible—and truly impossible, in many instances—for any outside parties to be able to review accounting statements that listed both domestic and foreign currency transactions and be able to come to a fair and reliable assessment of actual revenues, costs, and values. A consistent currency is needed for this, and consistent and meaningful currency translation methods are necessary to establish consistent and meaningful currency values.
Frame the Problems/Issues Into a Decision Question:
In the long run, all health care organizations want to lower the overall cost of blood operations. Economically, the cost of these operations as the Red Cross is the sole provider of blood to many health care organizations in the Carolina's. As such this organization has pricing power over many of the health care organization in the region primarily due to its leading position in the market. Blood has no substitute. Therefore, blood operations are essential to hospitals and therefore can not be cut or mitigated from budgets. Routine client operations pertain mainly to blood withdrawal, donations, infusion and much more. As such, hospitals have less negotiation power as blood is needed in their operations, and there is only one provider in the region. To help lower prices, competition should be encouraged in the region to better allow for a more efficient market. This competition will ultimately lower prices as two providers are in the region supplying all the health care organizations as oppose to one. In addition, if an independent operation can lower its over costs to operations, these cost can be transferred to consumers.