...Brief Introduction of Financial Risk Management Financial risk management is an interdiscipline with various researching subfields including the studies of mathematical methods to maximum the profits, quantitative analysis of financial databases and investment decisions. In other words, it is aimed to bridge the gap between mathematical theories and practical financial analysing tools (Nawrocki 1999). It could also be defined as“Living with the possibility that future events may cause adverse effects” (Kloman 1999). Risk and profit are always an integral. The variety of risks including portfolio risk, credit risk and liquidity risk became a financial conundrum which equalled to a group of destructive nuclear bombs hidden in the monetary market. Consequently, the risk management represents the core competence in insurance and banking industries. With the innovation of IT technology, more advanced computer software has been introduced in financial area which results that the risk management has made impressive strides in last decade. As the academic field mature constantly, the abstract mathematical and statistic concepts reifies to accessible programs which could predict the trends of investment returns, for example, the expected earnings at the end of next week after buying certain amount of stock at next Monday (Chapman 1996, iv). The origin of risk management could date back to the game theories introduced by two French mathematicians...
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...ReseaRch PaPeR Commerce Volume : 3 | Issue : 1 | January 2013 | ISSN - 2249-555X A Study About Awareness of Mutual Funds Among the Investors of Navsari District Keywords Mutual Funds, Investment alternatives, Investors’ perception. Dr. M. P. Desai Head, Department of Accountancy,Udhna Citizen Commerce College, Surat. Residence: 50,Niral Nivas, Ashapuri society,Vijalpore road, Navsari,396445, Gujarat. Mr. Mayur K Joshi Asst. Prof., Department of Accountancy,Udhna Citizen Commerce College, Surat. Residence: Vinay readymade, 7, shopping center,Dudhiya talav, Navsari,396445, Gujarat. ABSTRACT The financial securities include ownership securities (like shares, mutual fund units) and creditorship securities (like debentures, bonds). Ownership securities are more risky than creditorship securities. Investment decisions relating to ownership securities involve planning of investment strategies according to the extent of diversification desired by individuals. Investors can reduce risk and maximize returns by way of mutual fund investments, enjoying the expertise of professional fund management. In India, Mutual fund industry is an organised financial system, accessible to individual investors having varied needs and options. In order to identify awareness of mutual funds among the investors of Navsari District, a careful collection of primary data through questionnaire was made. Introduction Financial system comprises financial institutions, services, market and...
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...for Global Development Food & Business Applied Research Fund (ARF) Second Call for Proposals 2014/2015 Valid for Round 3: 19 January - 12 May 2015 The Hague, - January 2015 Contents 1 5 Validity of the call for proposals 5 Aim and objectives 6 Foci 7 2.3 Target groups Guidelines for applicants 9 3.1 Who can apply 9 3.2 What can be applied for 10 3.3 When can applications be submitted 11 3.4 Preparing an application 11 3.5 Impact pathways, monitoring & evaluation 11 3.6 Knowledge sharing with the Food & Business Knowledge Platform 12 3.7 Submitting an application 12 3.8 General regulations and Intellectual Property Rights (IPR) 4.1 Procedure 4.2 6 Available budget 1.3 2.2 5 3 2.1 4 Background 1.2 3 3 1.1 2 Introduction Criteria 15 4.3 Governance of the Programme 16 5.1 Contact 6.1 General instructions for applicants 19 6.2 Specific instructions for applicants 19 6.3 Multi-Annual Strategic Plans of the embassies 26 6.4 M&E matrix of the Applied Research Fund 27 Aim Assessment procedure Other information Annexes 6 8 13 14 14 18 18 19 Chapter 1: Introduction / Food & Business Applied Research Fund (ARF) 1 Introduction 1.1 Background The Food & Business Applied Research Fund (ARF) is a subsidy scheme of the Dutch Ministry...
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...Market Funds 2012 The World Behind Fitch’s MMF Ratings by Charlotte Quiniou, CFA, Director in Fitch Ratings Fund and Asset Manager Rating Group Fitch money market fund (MMF) rating is far more than just a stamp on a fund. Its value for investors comes from the depth and breadth of the underpinning rating analysis and process. A key component of a Fitch MMF rating is also the regular, independent surveillance performed by Fitch’s analysts, which supports ongoing dialogue with fund managers, so that systematic mechanical reactions are avoided. To better serve investors, Fitch provides information on rated MMFs and developments in the money market industry, notably based on MMF surveillance information, through freely available periodic publications and online tools. A Disciplined procedures ensure consistency Fitch conducts analysis and assigns ratings on MMFs following a consistent, disciplined process that is applied globally. The diagram in Figure 1 provides a summary view of the major steps followed by Fitch when assigning or reviewing a MMF rating. At the start of the rating process, each MMF is assigned to a group of two analysts: the primary (or lead) analyst, and the secondary (or back-up) analyst. Analysts are responsible for leading the analysis and formulating a rating recommendation. The primary analyst is typically responsible for the continuous surveillance of the rating, once it has been assigned, and maintaining the dialogue with the fund manager...
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...will protect the chemical dependency program from unforeseen threats or events that could interrupt the success of the program. This requires the source of revenue to be readily available to the chemical dependency counseling program in prison. Public-Private Partners However, for any financial contingency plan to be successful there needs to be sources of revenue available. One source of revenue is the public-private partner. There are many forms of the public-private partner that can be put to use by the program. The Operations and Management model involves a public partner (federal, state, or local government agency or authority) who contracts with a private partner to provide or maintain a specific service (North, 2011). Through O&M, the public partner retains control over the chemical dependency program and retains management control. The next type of public-private partnership is the Operations, Maintenance, and Management. In this public-private partnership the public partner will retain ownership of the public program but the private party may also invest capital into the program. The private investor will receive a return on his or her money based on his or her investment and the resources of the program. The longer the contract terms, the greater potential for the private...
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...RUNNING TITLE: MAGNOLIA THERAPEUTIC SOLUTIONS CASE STUDY Magnolia Therapeutic Solutions Case Study Tamara Owens University of Phoenix Financial Management in Human Services/BSHS 373 Frieda Flowers October 28th, 2013 In the Magnolia Therapeutic Solutions case study the board member made decisions based on what if’s. Working in the financial area in the nonprofit industry I have seen decisions like this come about numerous of times. The board decided to approve a budget and spend money on a grant which they received the previous year and was almost sure that they would be rewarded on that grant again in the future. The boards decision caused the organization to take a vital financial fail because the grant was not renewed so this caused layoffs and other organization cut backs. If I was on the board I would have definitely rejected the decision to spend money which was not approved or in present. Majority of grants are city, state or government funded. This means there are certain stipulations which may come with getting approved for those grants and sometimes the funds are not always available. Magnolia was a new organization which was growing at a steady pace. The jump and demand of services happened because of a major event “911” which had occurred in their city. It was great that Magnolia was able to assist the victims and their families with PTSD. Which this is why they receive the grant they received to increase staff and services. However, I would have based...
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...Financial Statements of THE ALGONQUIN COLLEGE OF APPLIED ARTS AND TECHNOLOGY Year ended March 31, 2005 THE ALGONQUIN COLLEGE OF APPLIED ARTS AND TECHNOLOGY Financial Statements and Supplementary Schedules Year ended March 31, 2005 Auditors’ Report Statement of Financial Position.....................................................................................................2 Statement of Operations ...............................................................................................................3 Statement of Changes in Net Assets ............................................................................................4 Statement of Cash Flows ..............................................................................................................5 Notes to Financial Statements ......................................................................................................6 Supplementary Schedules Schedule A - Revenue ..........................................................................................................24 Schedule B - Academic Expenditures ..................................................................................25 Schedule C - Educational Resources Expenditures .............................................................25 Schedule D - Student Services Expenditures.......................................................................26 Schedule E - Administrative Expenditures...............................
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...Case Study 1: Volkswagen in America – Managing IT Priorities INTRODUCTION This report identifies problems and recommends effective solution to CIO of VWoA Dr. Matulovic regarding the new priority management system for approving important IT project and also making right decision in spending IT project budget. IMPACTS OF INSUFFICIENT FUNDS * Estimated project budget was $170 Million but the parent organisation allocated only $60 Million. This reduced the efficiency of VWoA’s final result as most other projects were unfunded. Recommendations: CIO Dr. Matulovic could have raised for more IT project Budget from parent corporation VWAG. Board members of VWAG and Dr. matulovic could have discussed about requesting fund from government as government – private partnership or made partnership with any other private organisation for funding or could have applied for Bank loan. * Failure of SAP implementation over supply chain management domain caused a major loss to the organisation. Recommendations: As this was highly important and most costly ERP system implementation process they can guided and funded completely by VWAG parent company. As they are very critical ERP system and their failure cause adverse effect, Dr. Matulovic and IT steering committee could have fully funded the project from the allocated $60 Million budget CORPORATE GOVERNANCE ISSUES * Poor governance of internal structures, internal operations and lack of communication or reporting services lead...
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...Lahore University of Management Sciences FINN 400 – Applied Corporate Finance Spring 2013 Instructor Dr. Fazal Jawad Seyyed, CFA Room No. 208 SDSB Office Hours TBA Email fazal.jawad@lums.edu.pk Telephone 042-3560-8030 Secretary/TA Saleem A. Khan TA Office Hours TBA Course URL (if any) LMS Course Basics Credit Hours 4 Lecture(s) Nbr of Lec(s) Per Week 2 Duration 1:50 Recitation/Lab (per week) Nbr of Lec(s) Per Week Duration Tutorial (per week) Nbr of Lec(s) Per Week Duration Course Distribution Core ACF - Core Elective Open for Student Category Close for Student Category COURSE DESCRIPTION Applied Corporate Finance is a case-based course in intermediate level finance. It provides insights into the role of the financial manager, whose primary responsibility consists of acquiring funds needed by the firm and directing these funds into projects that will maximize the value of the firm for its owners. In reaching this objective, financial managers perform such varied roles/tasks as financial forecasting and analysis, raising capital from most economical sources, channelizing firm’s resources to projects with best pay offs, dealing in foreign currency and global financial markets to name a few. As an applied course, the focus is on: (a) application of financial concepts, models, and tools to address typical problems faced by financial managers, (b) examining financial theories and concepts in light of corporate practices and empirical evidence...
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...five public sector accounting techniques, which one do you prefer as the best to be applied? Explain your answer! First of all, I think it is necessary to observe the five techniques that can be applied in public sector accounting in order to decide which one is the best to be applied. 1. Budget Accounting. This technique presents the budgeted amount and the actual amount recorded in pairs (double entry). 2. Commitment Accounting. This accounting technique recognizes transactions and records them at the time the order was issued. This can be used in conjunction with cash accounting and accrual accounting. 3. Fund Accounting. The technique is performed with the concept of fund. It treats a working unit as an accounting entity and budget entity which stands alone. 4. Cash Accounting. In this technique, revenues are recorded when cash is received, and expenses are recorded when cash is removed. 5. Accrual Accounting. This technique differentiates between cash revenues and rights to earn cash, and cash expenditures and obligations to pay cash. In my opinion, accrual accounting technique is the best technique to use for public sector organizations. In this technique, revenues and expenses are recognized when earned or incurred, regardless of whether cash is received or spent. The use of the accrual basis in the public sector is one of the characteristics of modern financial management practices that aim to provide more transparent information and improve the quality...
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...United Nations Voluntary Fund on Disability (UNVFD) Project Proposal Application for Funding Form (Maximum 6 pages) INSTRUCTIONS To complete this section, please see instructions for the preparation of the Summary page: a. Project title: b. Name of implementing agent(s): c. Project location: d. Proposed starting date: e. Project duration: f. Amount requested from Voluntary Fund (US$): g. Government inputs: h. Implementing agent inputs: i. Other donor inputs: The Project Proposal Application for Funding Form has five sections: I. Background and justification of the project II. Objectives of the project III. Expected results of the project IV. Project implementation and management V. Project budget I. BACKGROUND AND JUSTIFICATION This section should provide a brief introduction to the current social and economic situation related to the geographic region and beneficiaries of the project. The background should also describe: a. The problem or critical issue which the proposal seeks to resolve b. How the proposal relates to other relevant national development strategies and policies c. Whether there are other programmes and activities which will complement the proposal d. How the need for the project was determined e. How intended beneficiaries were involved in project identification and planning f. What kind of assistance the concerned Governmental offices will provide ...
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...an environmental management charge (EMC). It is a way for visitors to contribute to keeping the Great Barrier Reef great for future generations to enjoy. The EMC funds received by GBRMPA are vitally important in the day-to-day management of the Marine Park. It is used to monitor, manage and improve the resilience of the Great...
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...NAME : COURAGE MUNZARA FACALTY : COMMERCE PROGRAMME : RISK MANAGEMENT AND INSURANCE Analyze the cost of risk The existence of risk and the nature of it being the state of the word, “risk” is associated with everything we do in life. This in the today’s world, business risk and the ability to quantify that risk in monetary form is proving to be of equal importance. Therefore, any risk manager’s core objective is to manage enterprise wide risk, leading to a fall in total costs associated with risk exposures. Due to these factors cost of risk has taken form, showing the dollar value of managing these risks and ways of reducing, preventing and controlling them effectively The concept in cost of risk was introduced by, a risk professional named Douglas Barlow in the late 1959 to 1972. This concept in his view was like a formula for all the factors related to management of risk. Ultimately the cost of risk was then defined by disintegrating it into four basic components which makes up the structure of the concept namely the cost of actual losses sustained, cost of measures for loss prevention, insurance premiums, and administrative expenses. In short the above elements make up the formula for cost of risk. COST OF FUNDING LOSSES As one of the major element in cost of risk, which is widely used and tracked is the insurance premiums. Which is associated...
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...the American people. Furthermore, with the Volcker Rule embedded into the act, it will ensure that banks are no longer allowed to own, invest, or sponsor hedge funds, private equity funds, or proprietary trading operations for their own profit, unrelated to serving their customers. The government will monitor banking activities through the use of the newly created Financial Stability Oversight Council that will work with the Office of Financial Research to use its resources and authority to investigate any it sees fit (CroweHorwath). Additionally, the act creates an instrument for government to shut down failing financially institutions without it creating a financial panic that leaves American taxpayers on the hook for the risky activities done by others. The act promotes market discipline that eliminates the expectation that the government will be there to bail them out in the situation where they fail. As it can be seen by the key provisions of the Dodd-Frank Act, its main purpose is to protect American families from having to go through the Great Recession, which we still currently are in, even after seven years and making sure that the market is no longer unmonitored, which is one of the weakness the act is intended to cure. The Dodd-Frank Act was created on the simple principals that regulation must be applied consistently, institutions should bear the risk not taxpayers, and regulatory figures...
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... exchange-traded funds, insurance, forward contracts,swaps, options, many types of over-the-counter and derivative products, and futures contracts. Public futures markets were established in the 19th century[1] to allow transparent, standardized, and efficient hedging of agricultural commodityprices; they have since expanded to include futures contracts for hedging the values of energy, precious metals, foreign currency, and interest rate fluctuations. A mutual fund is a type of professionally managed collective investment scheme that pools money from many investors to purchase securities.[1] While there is no legal definition of the term "mutual fund", it is most commonly applied only to those collective investment vehicles that are regulated and sold to the general public. They are sometimes referred to as "investment companies" or "registered investment companies."[2] Most mutual funds are "open-ended," meaning investors can buy or sell shares of the fund at any time. Hedge fundsare not considered a type of mutual fund. In the United States, mutual funds must be registered with the Securities and Exchange Commission, overseen by a board of directors (or board of trustees if organized as a trust rather than a corporation or partnership) and managed by a registered investment adviser. Mutual funds, like other registered investment companies, are also subject to an extensive and detailed regulatory regime set forth in the Investment Company Act of 1940.[3] Mutual funds are not taxed...
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