...in the business world. Learning objectives 1. Explain the functions of accounting, and identify the three basic activities involving accounting. 2. Describe he roles played by public, management, government, and not-for-profit accountants. 3. Identify the foundations of the accounting system, including GAAP and the role of the Financial Accounting Standards Board (FASB). 4. Outline the steps in the accounting cycle, and define double-entry bookkeeping and the accounting equation. 5. Explain the functions and major components of the four principal financial statements: the balance sheet, the income statement, the statement of owner’s equity, and the statement of cash flows. 6. Discuss how financial ratios are used to analyze a company’s financial strengths and weaknesses. 7. Describe the role of budges in a business. 8. Outline accounting issues facing global business and the move towards one set of worldwide accounting rules. 1. Explain the functions of accounting, and identify the three basic activities involving accounting. Accounting measure, interpret, and communicate financial information to parties inside and outside the firm to support improved decision making. Accountants gather, record, and interpret financial information to management. They also provide financial information on the status and operations of the firm for evaluation by outside parties, such as government agencies, stockholders, potential investors, and lenders. Accountants...
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...finance seeks to analyze available financial information or data and then derive their inherent meaning in regard to the long term survival of a business. This paper seeks to explicate the role of managerial finance and their implication to the survival of contemporary business enterprises. Financial statements are instrumental to internal users in that it helps them to make key business decisions. Such users include business owners, employees, managers and other stakeholders with a direct interest in an organization. Performing financial analyses on such statements helps such parties to gain an in depth understanding on their implications to internal decision making processes. On the other hand, external users require financial analysis to make decisions regarding their investments in a given organization. These include the government, banks and other financial partners as well as potential investors. Following the above discussion, governments will always ask for financial statements to evaluate or ascertain how an organization complies with taxation rules and regulations whereas financial institutions will require this information to assess the credibility of an organization in regard to lending. According to Ulrike (2010) it is important to note here that the importance and size of managerial finance role differs across organizations and is dependent on the size and operations of such of organizations. Typically, the...
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...management functions in business, understand how business risk is assessed and managed, understand the effects of business risks and how they can be managed and understand approaches to crisis management and business continuity planning. The aim of this assignment is to raise business risk awareness and develop skills to assess, monitor and control business risks and to develop an appreciation of the implications of business risks I certify that the work submitted for this assignment is my own and research sources are fully acknowledged. Name: Date: Table of content Content | Page | Declaration | 1 | LO1: Understand the risk management function in business | 3 | P1.1 Examine the role of the risk management function in business | 3 | P1.2 Assess the role of business function sin the management of risk | 4 | LO2: Understand how business risk is assessed and managed | 5 | P2.1: Analyse the risk assessment process | 5 | P2.2 Evaluate approaches to managing risk | 7 | P2.3 Examine the risk management process | 8 | LO3: Understand the effects of business risks and how they can be managed | 9 | P3.1 Analyse the main drivers of business risk | 9 | P3.2 Appraise the impact of different types of risk for a business organisation | 10 | P3.3 Assess which business areas are high risk | 11 | P3.4 Analyse risk management strategies | 12 | LO4: Understand approaches to crisis management and business continuity planning | 13 | P4.1 Analyse the...
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...------------------------------------------------- 1. Using any object of your choice, identify and analyse the following: a. Function(s) b. Components c. Incremental innovations Outline what you consider to be the rationale behind ONE recent incremental innovation. Object: Global Positioning System (GPS) navigation device: a) Function: A GPS navigation device extracts information using signals from global positioning system to determine its position on earth. These devices provide information on altitude, longitude and latitude of a location. GPS navigation systems are used in military, aircrafts, ships and various transport means such as buses and cars. b) Components of a GPS device: - Antenna - Oscillators - Micro-processors - Power supply - Display and user interface - Data storage c) Incremental innovations GPS devices for cars GPS devices for cars GPS devices for military GPS devices for military GPS devices in Aircraft navigation GPS devices in Aircraft navigation Mobile phones with GPS technology Mobile phones with GPS technology GPS devices for ships navigation GPS devices for ships navigation Watches / straps with GPS navigation Watches / straps with GPS navigation Recent incremental innovation: Wrist straps / watches with GPS technology * Rationale: Basic idea behind this innovation is to create a new market of GPS devices for sports personnel / sports industry. Using these devices...
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...Mark Scheme (Results) January 2012 GCE Government & Politics (6GP01) Paper 01 PEOPLE AND POLITICS Edexcel and BTEC Qualifications Edexcel and BTEC qualifications come from Pearson, the world’s leading learning company. We provide a wide range of qualifications including academic, vocational, occupational and specific programmes for employers. For further information, please call our GCE line on 0844 576 0025, our GCSE team on 0844 576 0027, or visit our qualifications website at www.edexcel.com. For information about our BTEC qualifications, please call 0844 576 0026, or visit our website at www.btec.co.uk. If you have any subject specific questions about this specification that require the help of a subject specialist, you may find our Ask The Expert email service helpful. Ask The Expert can be accessed online at the following link: http://www.edexcel.com/Aboutus/contact-us/ Pearson: helping people progress, everywhere Our aim is to help everyone progress in their lives through education. We believe in every kind of learning, for all kinds of people, wherever they are in the world. We’ve been involved in education for over 150 years, and by working across 70 countries, in 100 languages, we have built an international reputation for raising achievement through innovation in education. Find out more about how we can help you and your students at: www.pearson.com/uk January 2012 Publications Code US030541 All the material in this publication is copyright © Pearson Education...
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...In the above case there are four parties that are privy to the happenings in the case. 1)BAINZ 2)CONSUMERS 3)REST OF THE FOOD INDUSTRY 4)GOVERNMENT. the government here is not concerned with the free market dynamics directly. but the welfare of the citizens who are also the consumers is the top most priority of the government. hence the consumer's interest is the government's interest. on one hand is BAINZ in this case is a dominant player in the food processing market with great emphasis on high quality products and backed by sound marketing. on the other hand are other players in the industry who are alleged to be resorting to production of adulterated food with a greed of earning profits to analyse whether by supporting the legialstion bainz violated the free market priciples and benefited itself we need to analyse two aspects of the case. 1)ethical 2)commercial. 1)ethical aspects Any company is obliged to function In a free and fair manner. Any goods and services that a company produces should benefit the consumer .if not benefit,they should not harm the customer’s well being. This was exactly what was happening in America where adulterated food was threatening the well being of consumers. Many food processing companies were indulging in unethical practices to earn additional profits. At such a time bainz came into the market with high quality products and dominated the market. It was fair and ethical in its production and selling practices. It invested in the latest...
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...CIPD Unit of Assessment – 09003 Unit title | Recording, analysing and using human resource information | Level | 3 | Credit value | 3 | Unit code | 09003 | Unit review date | Sep-11 | Qualifications link | Certificate in Human Resource Practice | Aim | To enable the learner to record, analyse and use accurate records relating to human resources and understand the legal implications of record keeping | Unit abstract The overall focus of this core unit is to develop the learner’s understanding of the important contribution which accurate data, whether stored manually or electronically, can make to the HR function. The legal implications of storing personnel data are also addressed. The unit will enable the learner to record data and interpret, analyse and present information clearly and accurately in an appropriate format to support the HR function in decision-making in order to meet organisation-wide objectives. The unit content is intended to span the remit of data management for all areas of the HR function including but not limited to human resource planning, performance management, absence management, recruitment and selection and disciplinary and grievance procedures. A separate unit is available for data management relating to learning and development. This unit is suitable for persons who: * are working in human resources in an administrative capacity * have responsibility for data management relating to individuals within an organisation...
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...CIPD Unit of Assessment – 09003 Unit title | Recording, analysing and using human resource information | Level | 3 | Credit value | 3 | Unit code | 09003 | Unit review date | Sep-11 | Qualifications link | Certificate in Human Resource Practice | Aim | To enable the learner to record, analyse and use accurate records relating to human resources and understand the legal implications of record keeping | Unit abstract The overall focus of this core unit is to develop the learner’s understanding of the important contribution which accurate data, whether stored manually or electronically, can make to the HR function. The legal implications of storing personnel data are also addressed. The unit will enable the learner to record data and interpret, analyse and present information clearly and accurately in an appropriate format to support the HR function in decision-making in order to meet organisation-wide objectives. The unit content is intended to span the remit of data management for all areas of the HR function including but not limited to human resource planning, performance management, absence management, recruitment and selection and disciplinary and grievance procedures. A separate unit is available for data management relating to learning and development. This unit is suitable for persons who: * are working in human resources in an administrative capacity * have responsibility for data management relating to individuals within an organisation...
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...marketing firm with headquarters in Canada. As director of marketing, Mr. L operates at top level management where he specialised in direct distribution specialist providing consulting. The second manager is Mr. K from Company B which is Malaysia’s leading construction groups. As construction manager in this large public organisation, Mr. K operates at middle level management as he makes sure that the construction projects are completed on time. These interviews identify how managerial work of these two managers coincides with Fayol’s (1916) managerial functions which describe the four functions of managers (Peterson & Van Fleet, 2004). Moreover, skills proposed by Katz (1974) which examine skills needed at different management levels are also assessed. (Pavett & Lau, 1983) According to Fayol (1916), the four functions of manager include planning, organising, leading and controlling (Lamond, 2004). Under planning function, managers define goals, establish strategies and develop plans to manage the work activities. In the organisation, managers do planning to achieve specific purpose or targets. Based on the interview, Mr. L rated it as ‘4’ which proves that, as a top level manager, he plans strategies to seize the opportunity in the current market. In a multinational company, he analyes various markets to capture the wants of each market and the shares involved. For Mr. K, planning is important but not as much as Mr. L. He rated it as ‘3’ because as a middle level manager...
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...|Analysing an Essay Question | 1. Introduction Common criteria of undergraduate essay writing focus on the following requirements: students need to be analytical and critical in their response students need to structure their writing logically students need to be persuasive writers | students need to answer the question | This booklet looks at, how to analyse your essay question. Other Learning Centre booklets in this series deal with the other aspects: • Analytical Writing deals with the difference between analytical and descriptive writing • Planning and Structuring an Essay deals with logical structures • Developing and Supporting an Argument deals with persuasion Expectations of student assignments One of the difficulties experienced by students, particularly in first year, is understanding what standard is expected in essays at tertiary level. As well as this, each subject discipline has its own ways of doing things and its own conventions about essay structure and writing style. For instance, in some subjects it is acceptable to write very personally and put forward your own opinions and feelings on a topic and in others such a personal response would not be appropriate. You need to find out the expectations and conventions...
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...create content, share it, bookmark it and network at a prodigious rate. The five key characteristics of social media: collectivity; connectedness; completeness; clarity and collaboration lend itself to be used increasingly to support crisis management functions. This paper examines the various categories of social media tools to understand how they can be utilised to enhance analytical and response capabilities of organisations for crisis management. The paper identified four main social media functions: (1) information dissemination, (2) disaster planning and training, (3) collaborative problem solving and decision making, and (4) information gathering, which are then mapped onto the three crisis management phases of preparedness, response and recovery to describe how a range of social media tools may be used to enhance crisis communications. Case examples of international organisations and governments using social media for crisis management are shared. The paper proposes a framework to enhance government use of social media for crisis management that encompasses the need for a mandate, differentiated guidelines and three key capabilities to be developed. 1 Introduction 1. Crisis management is a critical organisational function that involves planning and dynamic incident response to situations as they unfold, often in unpredictable ways. The cascading effects of an unfolding crisis can undermine a country’s ability to operate effectively and may result in serious harm to...
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...studies the economic phenomena in a wider social context and with different approaches (Martinesseu, 251) and its principal focus of analyses are the transaction costs. One of its main conception is that the more complex are the transaction, the higher will be the costs and consequently the higher will be the need for efficient institutional arrangements...
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...Economics is a chief importance in a household and country what a person chooses and how it may operate properly. Economics includes the study of labor, land, and investments, of money, income and production, and of taxes and government costs. “Economists seek to measure well-being, to learn how well-being may increase over time, and to evaluate the well-being of the rich and the poor. The most famous book in economics is the Inquiry into the Nature and Causes of The Wealth of Nations written by Adam Smith, and published in 1776 in Scotland. ("What is economics,”) With healthcare increasing in the country and insurance agencies providing consumers with the proper coverage for care these conditions are becoming a stress. But within this tension agencies are finding ways to merge and accommodate all aspects of consumers need financially and providing the care needed. According to the “Competitive Effects Analyses of Hospital Mergers” over the past decade, there have been more than 500 hospital transactions and realignment is expected to continue in 2014 and beyond. (Guerin- Calvert, 2014) Economically to control the flow, smaller independent hospitals are being advised to affiliate themselves with larger facilities to better contain their businesses as well as their patients. Innermost concern that patients have is the cost of coverage for the care that will be provided to them. And the trends in network to diminish a patient and their finances benefits are designed...
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...Understanding whether the company needs to expand and what skills they will need • Looking at where redundancies might be made • Using benchmarking to make sure that employees are paid at a competitive rate To identify areas of growth: • Looking at demographics and understanding where products sell best • Understanding what skills are needed to hit the target market and what skills current employees need to improve to increase productivity 2. Identify the range of HR data that organisations collect and how this supports HR practice. Range of HR data that organisations collect Exit Interviews Exit interviews enable HR to understand why an employee is leaving the Company. The HR department are then able to analyse the data and implement necessary changes i.e. it might be that the manager of that area needs additional management training or that Company are not paying competitively and a benchmarking exercise would be useful. By looking at this data the organisation can limit the number of employees leaving. Recruitment Looking at recruitment data enables HR to understand the timescale, success rate, top performing agencies and the number of interview stages, by looking at this information HR are able to make that the recruitment process runs as effectively as possible. It can also be used to monitor diversity and equality, and making sure that the organisation has a lawful recruitment...
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...FINANCE 305 : ESSENTIALS OF INVESTMENTS CHAPTER 1: Investments: Background and Issues. REAL ASSETS – assets used to produce goods and services. FINANCIAL ASSETS – claims on real assets or income generated by them. FIXED INCOME (DEBD) SECURITIES – are securities that pay a specified cash flow over and specific period. EQUITY – an ownership share in a corporation. DERIVATIVE SECURITIES – securities providing pay offs that depend on the value of other assets. AGENCY PROBLEMS – conflicts of interest between management and stockholders. ASSET ALLOCATION – allocation of an investment across broad asset classes. SECURITY SELECTION – choice of specific securities within each asset class. SECURITY ANALYSES – analyses of the value of securities. RISK-RETURN TRADE-OFF – assets with higher expected returns entail greater risk. PASSIVE MANAGEMENT – buying and holding a diversified portfolio without attempt to identify mispriced securities. ACTIVE MANAGEMENT – attempting to identify misplaces securities or to forecast broad future trends. FINANCIAL INTERMEDIARIES – institutions that connect borrowers and lenders by accepting funds from lenders and loaning funds to borrowers. INVESTMENT COMPANIES – company that manages funds for investors. An investment company can manage several mutual funds. INVESTMENT BANKERS – firms specializing in the sale of new securities to the public, typically by underwriting the issue. PRIMARY MARKET – a market in which new securities are offered...
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