...Corporation Accounting & Finance Department Plan Human Resources Department Plan Melanie Hanson Patrick Blessinger Bus3011 Spring 2014 Table of Contents 3. Executive Summary 4. Human Resources Description 4. Accounting and Finance Description 4. Human Resources Purpose Statement 4. Accounting and Finance Purpose Statement 5. Human Resources Goals and Activities 5. Accounting and Finance Goals and Activities 5. Management Goals and Activities 6. Human Resources Organizational Structure 6. Accounting and Finance Organizational Structure 6. Management Organizational Structure 7. Human Resources Interview 7. Accounting and Finance Interview 7. Management Interview 8. Human Resources Performance Standards 8. Accounting and Finance Performance Standards 8. Management Performance Standards 9. Conclusion 10. Accounting and Finance Organizational Chart 11. Human Resources Organizational Chart 12. Accounting and Finance Strategic Alignment Worksheet 15. Human Resources Strategic Alignment Worksheet Executive Summary The Atha Corporation is a company based on strong ethical standards and beliefs. In order to ensure these beliefs are enforced we have taken measures to revamp our company for the better. With the extra funds we have received from a partner, we will be able to expand our company to double the previous year’s sales. To do this we will need to make drastic changes in all departments, especially in Human Resources and Accounting and Finance. These...
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...economics, accounting and finance Understand why financial information is important List the main users of accounting information and understand their information needs Distinguish between management accounting and financial accounting List the main types of business ownership and outline their characteristics Summarize the advantages and disadvantages of each type of business ownership p 2 Panagiotis Dontis Charitos WBS, 2013-14 IN TODAY’S LECTURE... Topics Differences between economics, accounting and finance Importance of financial information Users of accounting information and their information needs Differences between management accounting and financial accounting i Main types of business ownership Characteristics Advantages vs. disadvantages 3 Panagiotis Dontis Charitos WBS, 2013-14 ECONOMICS - FINANCE – ACCOUNTING Economics is a social science Study the production, consumption and distribution of services or goods Explain how economies work and how do different economies interact Finance is a subset/tool of economics that studies the financial markets Personal finance, corporate finance, state finance Accounting is an essential part of finance and economics Precise recording, reporting and assessment of financial deals and transactions of a business Preparation of statements or declarations concerning assets, liabilities, and outcomes of operations of a business 4 Panagiotis Dontis Charitos WBS, 2013-14 ECONOMICS - FINANCE – ACCOUNTING Accounting ...
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...AREAS OF EXPERTISE Office management Profit & Loss Cash management Balansheet &cash flow statements Data protection Reconciliation PROFESSIONAL MBA(FINANCE-MARKETING) PERSONAL SKILLS Time management Versatility Data entry Neumerical skills PERSONAL DETAILS Sajesh Sankaran Dayyar building.Flat no:102vUAE Mob: 0559613374 Email:rijushankar@gmail.com DOB: 09/12/1990 Driving license: yes Nationality: Indian Sajesh Sankaran Accounts Executive & Accounts Assistant PERSONAL SUMMARY A highly efficient and competent finance officer with drive determinationand Exeperience of working in a busy finance department providing support tomanagment accounts.Possessing excellent numerical & data entry skills along with a comprehensive understanding of commercial, administrative and accounting procedures. Having a proven ability to ensure that day to day work is carried out in line the agreed policies and procedures and qualityatandards. Keen to find a challenging finance officer position with a successful and ambitious Company where Iwill be able to continue to increase my work experience and develop my ability. WORK EXPERIENCE Charted Accounts Institution(CA,Auding firm)/Algebra bookeeping, Dubai,India Accounts executive /ACCOUNTS ASSISTANT March 2013 - Present Responsible for developing weekly monthly financial reports showing analysis Of the financial accounts.Identifying...
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...Generally Accepted Accounting Principles Deborah Gandy HCS571 June 3, 2013 Tamica Lewis Generally Accepted Accounting Principles To meet health care changes resulting from decreased reimbursement an aging population, and technology the nursing professions responsibilities morphed from the bedside to the board room. In the last two decades a substantial increase in nurses in senior level positions in hospitals or other facilities reflects the need for nurses to obtain advanced degrees to meet the demands of heath care as a business. In a report published 2010, by the Robert Wood Johnson Foundation, and the Institute of Medicine (IOM) the summary report clearly identifies the need for nurses to participate fully as partners to improve the nation’s health care system(“The future of nursing: leading change, advancing,” 2010). To that end, in order for nurses to participate actively in shaping the health care system nurses need education in what many consider as non-traditional nursing subjects, such as finance. In response to the need for education in finance nursing curricula include at least one course as an under graduate, and one on the post- graduate level. Together these courses provide both academic and practical knowledge the nurse manager can translate readily to manage an organization or an individual nursing unit (Finkler, Kovner...
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...CSLO One: Apply the concepts, analytical techniques, and conventions of basic accounting in both the academic and practice environments. 1a. Describe THOUGHTFULLY why it is important to understand the application of concepts, analytical techniques, and conventions of basic accounting in both the academic and practice environments. (At least one paragraph.) Analytical techniques, and conventions of basic accounting In the accountants, no matter whether in public places exercise or perhaps business, expend time and effort and effort performing analysis with regards to clients. They must come to a decision tips on how to implement completely new information technology or perhaps auditing criteria, tips on how to provide abnormal monetary deals in the economic claims, and exactly how completely new levy legal guidelines influence their clients or perhaps companies. exactly how nicely recent auditing strategies perform and tips on how to improve these individuals; exactly how levy legal guidelines affect companies’ planning and information technology display; exactly how managerial information technology methods guide firms improve their by using the accessible information; exactly how information technology information impacts campaign and career within firms. therefore with the help of essential information technology knowledge there are the publicity to your school and also we could additionally find sensible understanding of exactly how financial is performed and also...
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...words (finance and accounting) as both have very wide meanings and applications in the business world. Most business has an aim to make profit and to remain solvent and the above two concepts play an important role in achieving this objective. This paper aims to answer the above questions and further goes on to say why both should and are considered a vital part of business and their importance in the whole business set up. Literature Review Accounting has been defined as the soul of the business (Collin P, 2004). Accounting is described as the means by which information is communicated in a firm, and is thus known as the language of business. Accounting is described as a vital function in preventing fraud and corporate corruptions in organisations (Glautier, M.W.E. and B. Underdown, Accounting theory and practice). Accounting is important as it provides information to external parties (stakeholders) by providing a true picture on the business financial position. Finance is described as an administrative function aimed at raising funds for the business (B.B Howard. Introduction to Business Finance). Finance is aimed to maximise the value of the firm and attain the main objectives of the firm; I. Shareholders wealth maximisation II. Profit maximisation This is achieved by determining the optimum capital structure and the efficient utilisation of resources by analysing risk and return (B. B Howard. Introduction to Business Finance). Findings and analysis Accounting Accounting...
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...over a 12-year period from 1997 through December 2009. QUESTIONS AND ANSWERS 1. What is the problem in the Koss Corporation case? This case evolves about a wide-ranging fraud committed by senior members of the accounting department of Koss Corporation. Over a period of years, Sachdeva, the Principal Accounting Officer, Secretary and Vice-President of Finance at Koss had stole over $30 million from the Company. Sachdeva used the embezzled funds to finance her extravagant lifestyle and for her personal spendings. Mulvaney, working in concert with Sachdeva, prepared false journal entries to disguise Sachdeva's misappropriation of funds. Sachdeva and Mulvaney attempted to hide the embezzlement in the Company's financial statements by overstating assets, expenses, and cost of sales, and by understating liabilities and sales. Over the last 12 years, Koss never realised the embezzlement made by the culprit. The embezzlement was revealed on December 18, 2009, when American Express (principal bank for Koss Corporation) notified the Company that funds were being wired from a Company bank account to pay for expenses on Sachdeva's personal credit card. Sachdeva was arrested after she admitted to using Company funds to pay for personal expenses, including payments for her personal credit card. 2. Who is or are involved in the...
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...Assignment 1: Application of Financial Statement Tasha L. Hodge Professor Doshi Acct 557: Financial Accounting. December 5, 2011 Abstract The purpose of this paper is to explain my reasoning on the importance of financial statements in a personal and professional environment. The balance sheet and the income sheet are the two most important factors that all business needs in order to attract and keep investors. The balance sheet reports assets, liabilities and equity while Income statement lists total income and total expenses. Select either the balance sheet or income statement and explain how the use of it may be applied to your everyday life. According to the principles of accounting website, “ Accounting is a set of concepts and techniques that are used to measure and report financial information about an economic unit. The economic unit is generally considered to be a separate enterprise. The information is reported to a variety of different types of interested parties ( principles of accounting, 2011). To greatly explain, these interested parties use either a balance sheet or income statement. The balance sheet, “reports the assets, liabilities, and stockholders equity of a company at a specific date”, (Weygandt, 2011). The income statement “ presents the revenues and expenses and resulting net income or net...
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...LO1 Understand the sources of finance available to a Business Finance is the most vital thing to run the business. Companies operating as commercial entities must have sufficient cash balances to facilitate their smooth operations. Cash requirement can be raised from different sources, ranging from equity, various forms of debt, to internally generated funds through retained earnings which would otherwise be distributed to shareholders (Myers and Myers, 1991; J. Gitman, 1991). The sources of finance can be classified as Internal and External, Short-term and Long-term or Equity and Debt (Bromwich & Bhimani, 2009, pp.45). The two main sources of finance for business include internal and external sources. The business managers decide which form of financing to be used in the business (Klammer, 2003, pp.35). Internal Sources of Finance Personal funds - utilized by sole traders and partnerships. Owner takes on risk of losing their money. Family and friends - utilized by sole traders and partnerships. Friends can not only lose money but also harm relationships Selling assets - Dormant (unused) assets are typically sold. Selling of fixed assets that are currently in use may solve liquidity problems but create future production problems. Retained profit - Profits reinvested back into the business External Sources of Finance Share capital - limited companies selling shares. #1 way for limited companies to raise money and can provide up to billions. Venture capital - invest...
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...Basic Accounting Concepts and Business Structures Karen Miersma ACC/537 July 14, 2012 Professor James Neuner Basic Accounting Concepts and Business Structures One of the first things looked at when studying accounting concepts and business structures is GAAP (generally accepted accounting principles). There is a hierarchy that accountants use when exploring “substantial authoritative support” (Kieso, Weygandt, & Warfield, 2007, Chapter 1, Financial Accounting and Accounting Standards) in their accounting practices. This hierarchy provides the framework needed to prepare company financial statements. This hierarchy is very important because it is the company’s responsibility to select the accounting principles for their financial statements and the company needs to be in compliance with GAAP. Hierarchy Here are four main categories in this hierarchy. The first is the most authoritative, etc. 1. FASB Standards; APB Opinions; AICPA Research Bulletins. 2. FASB Bulletins; AICPA Accounting and Audit Guides; AICPA Statements. 3. FASB Emerging Issues Task Force; AICPA AcSEC Bulletins. 4. AICPA Interpretations; FASB Implementations; Widely Recognized and Prevalent Industry Practices1. Descriptions The federal government established the SEC (Securities and Exchange Commission) to help regulate, standardize, and develop the financial information the stockholders receive (Kieso, Weygandt, & Warfield, Chapter 1, Financial Accounting and Accounting Standards, 2007). The...
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... |Updated information on the courses will be sent to successful candidates by Aalto | | |University, School Of Economics. | | | | | |*The same course can be transferred only as 1 course. | |First Level Modules | | |ACC1006 Accounting Information Systems |International Technology Venturing | |BSP1005 Managerial Economics |TU91.2010 Managerial Economics | |MKT1003 Principles of Marketing |23A00210 Introduction to Marketing (6 ECTS)...
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...University of Phoenix HCS/405 Sandra DiPietro Reporting Practices and Ethics Introduction Addressing financial reporting practices and ethical standards in health care finance can be done in various different ways. Either way this component of health care is addressed, it is important for a health care finance element, within an organization, to ensure that this is addressed correctly. A good way to explain and address the ethical standards in health care finance is by explaining the four elements of finance. These four elements include Planning, Controlling, Organizing, and Decision Making. With these four elements, addressing financial reporting practices and ethical standards in health care organizations, can be addressed, and will reflect how organizations accomplish this. Accounting Principles In health care organizations, financial reporting involves financial statements. There are four main financial statements. They are: (1) balance sheets; (2) income statements; (3) cash flow statements; and (4) statements of shareholders’ equity (U.S. Exchange Commission, 2011). The third part of a cash flow statement shows the cash flow from all financing activities. It is very important for an organization to report their finances, since financial reporting will provide investors with information about the organization’s management. Financial reporting also provides information for all of management of their earnings and cash flow...
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...Markets Personal Finance Active Trading Forex Professionals Tutorials Video Simulator Free Newsletters Global Professional Exams FINRA Exams Canadian Professional Exams Careers Continuing Education Exam Prep Quizzer FAQs Calculators Tweet 1 Disqus Email Print Feedback Frequently Asked Question November 18 2009 | Filed Under » Accounting, Consumer Goods, Electronics Should computer software be classified as an intangible asset or part of property, plant and equipment? In accounting terms, an intangible asset is something of value that is not of physical nature. On the other hand, property, plant and equipment (PPE) are just as the name suggests. PPE refers to physical long-term assets, such equipment that is vital to a company's operations and has a definite physical component. Under most circumstances, computer software is classified as an intangible asset because of its non physical nature. However, accounting rules state that there are certain exceptions that permit the classification of computer software as Property Plant and Equipment (PPE). Some of the statements that have rules concerning the classification of software include: Financial Accounting Standards Advisory Board (FASAB) Statement of Federal Financial Accounting Standards (SFFAS) No. 10, Accounting for Internal Use Software. Governmental Accounting Standards Board (GASB) Statement No. 42, Accounting of Costs...
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...Personal Statement The world of finance and investment banking attracts many top graduates. I am no exceptional, personally one of the biggest temptations to this subject is the perplexing range of career opportunities its suit all interests such as; auditing work, management consulting, corporate finance, IT consulting, tax planning, human resources and insolvency. As a person who likes to be in charge, have responsibility and be accountable, I see myself in the future as potentially running my own business or being in a management role. After studying accountancy for the first time at college, I discovered that it was the language of business, primarily because its sole purpose was to communicate information to decision makers. As I want to be a future business decision maker, I have decided that this is the subject I need to learn, as it will show me how to get valuable information, teach me what it means and also train me in how to use it to make better decisions. At some stage, all organizations have to present their performance in the form of financial statements. Accounting and finance professionals have to present and interpret such statements to verify and monitor the health of the company behind them. It is this particular aspect that has always appealed to me, I am keen to learn about the financial and accounting decisions that businesses and organizations need to make to be profitable and survive. Another major reason that attracts me to this course is...
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...Application of Financial Statements: The Balance Sheet Tonesha Gadson Strayer University Financial Accounting (ACC 557) Professor Mary Johnson May 27th, 2012 Abstract Many people may ask why Financial Accounting is needed and is so prevalent in the business world and in personal living. What is its importance and activities involved? Why is it so crucial in commerce performance and individual responsibilities? Most significantly, which financial statements are of great magnitude in work and life? To the point, financial accounting is the process of summarizing financial data taken from an organization's accounting records and publishing in the form of annual (or more frequent) reports for the benefit of people outside the organization. This financial data are then entered into financial statements, which is based on the main accounting equation: Assets = Liabilities + Owners’ Equity. Financial statements show you the money and show you where a company’s money came from, where it went, and where it is now (U.S. Securities and Exchange Commission, 2007). With that said, there are four basic financial statements in calculating an organization’s and one’s own financial stability: -Balance Sheet -Income Statement -Cash Flow Statement -Statement of Owners’ Equity In this report, a major emphasis will be placed on the initial basic financial statements and how it’s applied in the business world and personal use-the Balance Sheet. Not only...
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