...Operational Management – The Board of Directors is responsible for approving the Compliance Management Plan and is ultimately responsible for the effectiveness of company-wide compliance and associated systems of control. The Board has delegated responsibility for providing Board-level oversight about credit, operational, and financial risks to the Audit Committee, which consists of at least three Board members. The Chief Risk Officer (Terry McCoy) and appropriate representatives from specific business units and other members of the executive leadership team also attend Audit Committee meetings when the Audit Committee deems appropriate. The Audit Committee is chaired by one of the Board members selected by the other two Board members serving...
Words: 1580 - Pages: 7
...Introduction A report for the Eagles Ltd board of directors has been prepared by external consultant. In this report ratio analyses have been used to comment on the performance of the business over two year period (2008 and 2009). Profitability, Liquidity, Efficiency and Gearing ratios have been calculated (See Appendix) and used to reveal and explain the situation in the company. Firstly the importance of each kind of financial ratios is explained. Then each ratio is analysed according to provided information (income statement and balance sheet). Finally recommendation for further actions for Eagles Ltd is given. Limitations • If used incorrectly ratios can be useless and misleading (Elliott, B., and Elliott, J., 2005). • Ratios can highlight the problems that company has, but they can’t explain the reasons of these problems (Atrilll and McLaney, 2008). • Not all ratios are useful to all users. • In this particular case the field in which business operates is unknown. • The cash flow statement wasn’t available to compare money investments and actions taken each year. Profitability ratios Khan and Jain (2007) state that management of the company is interested in operating efficiency and owners expect reasonable returns of their invested funds. Income is crucial for survival and development of any business. (Atrill and McLaney, 2008) Profitability ratios 2008 2009 ROCE 49.3% 29.3% Net profit margin 28.7% 19.2% Gross profit margin 46.3% 41.4% ROCE (return on...
Words: 1745 - Pages: 7
...donations. The government receives money from taxpaying citizens and may be financed through bills or laws passed through Congress and the Senate. In order to maintain integrity with these entities, the people that the money comes from need to know where their hard -earned money is going. There have been at least two boards set up: the Governmental Accounting Standards board and the Financial Accounting Stand Board. These boards have installed several statements of standards that tell what type of items needs to be reported. They also set the standard on how to report these financial statements. These recommendations have come down from audiences such as the one reading this memorandum, the nonfinancial audience. The boards mentioned above are reviewing audit reports that receive federal grants and donations. This is to make sure independent audit firms are in compliance with all regulations. Another thing that has come down from the nonfinancial audience is the change in the reports has made it easier and simpler to understand for people that have a complete grasp on numbers. Each person that reads a financial report will be able to easily understand where the funds came from, how much money came in, and when and where the funds were spent. This simplicity in reporting makes it very easy not to take items out of proportion and...
Words: 617 - Pages: 3
...Memorandum To: Manager CC: CPA Report From: Victoria Callahan Date: 3/4/2013 Re: CPA Report Knowing what to write in the CPA report is important because of the information that is being used to make decision with. In the report it includes the questions that have been ask and what the responsibilities is for a CPA. The method that is used for deferred taxes is temporary difference. Temporary difference is the difference between the tax basis of an asset or liability and its reported (carrying or book) amount in the financial statements (Kieso, Wyegrandt, and Warfield, 2007). The reason is that the difference in the timing of the recording of the revenue and expenses. The accounting method that is used for deferred taxes is accrual. Deferred tax is recognized on the financial statements when the taxes are recognize on the asset or liability. The retrospective approach is an approach that the Financial Accounting Standards Board requires for companies when reporting accounting changes (Kieso, Wyegrandt, and Warfield, 2007). In this approach, when one would make the changes of the accounting principle he or she would go back in previous financial statement to make the changes. This would show the consistency in the company financial statements. When reporting an error the same principle applies. When making corrections to an error, one must restate the prior statement in order to correct the error. Afterwards, document what the error was and report it to the company management...
Words: 589 - Pages: 3
...A report is long document or a document that contains numerical data. But some organizations one or two page memos also called report. In others, PowerPoint slides printed out on paper can be viewed as reports. According to Locker, we must use the following steps in writing reports. 1. We must use time efficiently: Plan in advance how much time it is available to research and complete the report. It is helpful to draw up a timeline and set planning goals. 2. We must analyze the data and information: When analyzing our topic, we must ask ourselves series of questions, such as who is the intended audience for the report, and what do they want to know? What is the purpose of the report? For example, information reports collect data for the reader, analytical reports interpret data but do not recommend any action, and recommendation reports recommend action or a solution. (Locker, 2006). The following reports are good example of information, analytical, or recommendations reports depending on what they provide: Trip Report can share what the author learned at a conference or during a visit. Progress Report an academic report on how and why something has changed over time. Recommendation Report a report on how practical a proposal is. Credit Report s can simply summarize applicant’s income. Accident report is a report describing how someone was hurt or something was damaged 3. Organize the information: Organize these ideas into a preliminary plan, grouping related...
Words: 606 - Pages: 3
...Ethics and Tarvydas Model Laura Garcia PSYC 410 Dr. Lane October 26, 2014 Ethics and Tarvydas Model 1. The counselor receives an intake for an attending physician, whom has worked with the agency in the past. This intake call is inquiring on a personal matter regarding his 17 year old daughter with an eating disorder / exhibited symptoms of Borderline Personality Disorder. It is relayed during the call; the physician will continue the medication management portion of treatment, while the agency provides counseling services. It was presented during the intake he was concern with being well-known doctor that would like to keep this information private from others and would like to pay cash for service. Phase 1: The counselor is aware of the physician’s rights to keep his daughters condition private, however providing medication to a family member is cause for concern when there may not have been a proper assessment completed or if it is not being documented properly. The influence the medication can influence the process of therapy; especially when there may be no medical documentation of initial symptoms can cause various problems with treatment. It is important in determining if there is medical documentation supporting the diagnosis/medication and what types of tools were used in determining those findings. Determine why she was not referred to an agency earlier, and why is it in the best interest for the physician to continue medication when the counselor would...
Words: 1785 - Pages: 8
...3.12 Table identifying the location of the Standard Disclosures in the report. Identify the page numbers or web links where the following can be found: • Strategy and Analysis 1.1 – 1.2; • Organizational Profi le 2.1 – 2.10; • Report Parameters 3.1 – 3.13; • Governance, Commitments, and Engagement 4.1 – 4.17; • Disclosure of Management Approach, per category; • Core Performance Indicators; • Any GRI Additional Indicators that were included; and • Any GRI Sector Supplement Indicators included in the report. ASSURANCE 3.13 Policy and current practice with regard to seeking external assurance for the report. If not included in the assurance report accompanying the sustainability report, explain the scope and basis of any external assurance provided. Also explain the relationship between the reporting organization and the assurance provider(s). Governance, Commitments, and Engagement GOVERNANCE 4.1 Governance structure of the organization, including committees under the highest governance body responsible for specifi c tasks, such as setting strategy or organizational oversight. Describe the mandate and composition (including number of independent members and/or non executive members) of the highest governance body and its committees, and indicate each individual’s position and any direct responsibility for economic, social, and environmental performance. Report the percentage of individuals by gender within the organization’s highest governance...
Words: 1331 - Pages: 6
...Business Objective – ‘Global Finance Reports’ Operating Guide [pic] Support Team Last Updated on 04-Dec-2011 Table of Contents Objective 3 How to get access to the ‘Secured Finance Folder’ in BO 3 Folder Structure in BO for Global Finance Reports 3 Reports repository 3 BO Support Team 3 Annexure 3 Search Key option in BO 3 Additional Filter option in Bo 3 Enlarge screen with new window and show/hide tool bar 3 How to Change Parameters in BO 3 How to Select Input controls in BO 3 Report Layout Options 3 Objective Considering the complexities in our process, Finance teams always demand reports consolidated from combination of several Companies/Servers. Baan has limitations to generate reports from multiple companies/servers combination. Creating a global universe in BO connecting various company/server (Baan 4, Baan5) will enable us to create much needed consolidated reports at MEP code level. Global universe will also connect to FDSS for using Global mappings like Global Accounts, Bus Org, Global Cost centers, Global Product Lines.. Etc. Using Baan data and Global mappings, reports with Global dimensions can be produced dynamically. Business Objects will be used as the common reporting tool for Finance Reporting. BO will be used to produce dynamic reports from Baan similar to OLS formats. This will be a great help for the site Finance teams to effectively monitor their Month end numbers...
Words: 1016 - Pages: 5
...spills in history. The leak from the undersea well flowed for 87 days and polluted an estimated 68,000 square miles of the Gulf of Mexico waters and nearly 500 miles of coastline from Louisiana to Florida. At the moment of the accident BP was the leaseholder and operator of the Maconda well located off the coast of Louisiana. The company was ultimately responsible for conducting operations there safely and in respect of the environment. BP hired Transocean Ltd (the owner of the drilling rig Deepwater Horizon) to provide the vessel and drilling crew to implement BP’s operations of the Maconda well. 1 Investigations established that bad management on the Deepwater Horizon resulted in poor safety on the rig. The US chemical safety board concludes that a last-ditch safety device on the underwater well had multiple failures and wasn't tested properly. It found that the cause of the initial explosion involved multiple screw-ups with cement, drilling mud, fluid pressure, botched tests, management problems and poor decisions. The blowout preventer sealed the well temporarily, but then it failed and that caused the massive spill. 1 For a description of BP’s implication in the Deepwater Horizon accident you can also read Cherry and Sneirson (2011), p. 988-999. The authors also examine green marketing and corporate governance, identifying elements of each that encourage firms to engage only superficially in corporate social responsibility yet trumpet those efforts to...
Words: 1059 - Pages: 5
...legal trouble, it is also putting the practice in a position to be closed down, and the physician can lose their license, and the ability to practice medicine again. After all he took a Hippocratic Oath that he should live by as well as run his practice according to the mission statement. Scenario 2: Administration of Patient Medications in the Hospital Setting As a new graduate nurse working nights on a busy medical unit medication error is a possibility. Reporting a medication incident as a novice nurse becomes very challenging. Although it is unethical, dangerous, and possibly grounds for a lawsuit, I think as a newly graduate nurse clinician I may choose not to report the incident, because first of the fear of being reprimanded and possibly terminated. Then also fear of being reported to the licensing boards and possible losing my license to practice nursing. Another reason would be it will damage my self-confidence and attach a stigma of untrustworthiness among my colleagues. I will become so terrified of losing my job that I...
Words: 596 - Pages: 3
...requirements for reporting with respect to what needs to be reported, when it should be reported, and the procedure for submitting the report. 2. Setting up systems to ensure that reportable events are identified and submitted to the IRB in a timely manner. Examples of the type of events that may be reportable include: o An unanticipated problem, which may be defined as any unexpected event that affects rights, safety or welfare of subjects. The event could be physical such as an adverse drug experience or adverse device effect. The event could also involve some harm or risk (i.e. breach in confidentiality or harm to a subject's reputation). o Serious adverse event, which may be defined as a death, life-threatening adverse drug or device experience, inpatient hospitalization or prolongation of existing hospitalization, a persistent disability/incapacity, or a congenital anomaly/birth defect. o Protocol exception, which may be defined as enrollment of a research subject that fails to meet protocol inclusion/exclusion criteria. o Protocol deviation, which may be defined as a departure from the protocol as approved by the IRB for a single subject. o Data and Safety Monitoring Plan or Board summary reports. o Complaints concerning subject rights submitted by subjects or concerned parties, family members, or study personnel. The IRB will use the reports to assess whether the risks/benefit ratio is still reasonable, whether changes in the informed consent document or study procedures...
Words: 294 - Pages: 2
...Professional Higher Education Bachelor's Programme “European Business Studies” Analysis of LOreal CSR report 2011 Prepared by: Krists Dilba Maksims Simhovičs Table of contents 1. Main facts from the report 3 2. Motivation for choosing LOreal 5 3. Industry Analysis 5 4. Evaluation of the report 7 5. Assesment of the Report (quality principles) 19 6. Assesment of the Report (principles of content) 20 7. Conсlusions 22 1. Main facts from the report 1. L’Oreal has been a member of the UN Global Compact since 2003 2. L’Oreal also works closely with the following major associations and institutes: Anti-Corruption Commission of the International Chamber of Commerce, Global Council on Business Conduct, The Conference Board, Ethics and Compliance Officers Association, The Ethics Resource Center, International Business Ethics Institute, Institute of Business Ethics, Cercle d'Éthique des Affaires. 3. The L’Oreal is the largest cosmetics group in the world with 20.3 billions Euros of sales (2011), operating in 130 and having almost 70000 employees 4. L’Oreal invest 40 million Euros annually in programs that bring tangible benefits to communities all over the world. 5. The company engages in human rights protection, is against child labor, and also executes their buy & care programs to ensure sustainable growth and compliance with CSR strategy throughout their supply chain. 6. L’Oreal has also developed very stringent...
Words: 3971 - Pages: 16
...Unit 5 1.1 Define the following types of abuse Physical: The physical ill treatment of a person which may or may not cause physical injury. Physical abuse can also occur when people are not provided with adequate care and support, causing them unjustifiable physical discomfort. Sexual abuse: Sexual abuse includes acts which involve physical contact or non-physical contact. Contact abuse can include rape, sexual assault,and touching in a sexual way. Non-contact abuse can include people being forced to be photographed naked or made to let other people look at their body. Emotional/Psychological abuse: There is usually a psychological element to all forms of abuse. It may involve; The abuser acting in a calm but destructive manner, humiliating a person, treating a person as a child, and, indifference to the needs of a person. Financial abuse: This involves a persons funds or possessions being taken or used inappropriately by a third party. Institutional abuse: This can involve practices of abuse in an institutionalised environment, for example, where the rights of the person using the service are denied. This can involve, amongst other things, ignoring other forms of abuse, abuse by one or more staff member or staff misusing any power they may have over the people using their services. Self neglect and neglect by others: This is the deliberate withholding of, or intentional failure to provide a necessary level of care and support for an adult to meet his...
Words: 3545 - Pages: 15
...to promote a culture that promotes patient safety, the hospital’s Incident Reporting Policy is based upon a foundation of nonpunitive approach to incident/occurrence reporting. The hospital leadership will encourage open and honest reporting of injuries and hazards to patients, visitors and staff, this process will be nonpunitive in nature for all persons reporting incidents throughout the organization. Incidence/occurrence investigations will be viewed as an opportunity for education/process improvement, and will focus on processes and systems, rather than human error. Disciplinary action will be limited to only those employees who engage in willful or malicious misconduct, or those occurrences in which the employee failed to report an incident or hazard to patients in a timely manner. II. Responsibility A. All hospital employees, medical staff members, volunteers, and contract service members will participate in the hospital-wide incident reporting program. All incidents such as those listed as follows will be reported to the department of quality management: 1. Incidents involving inconsistencies with written hospital policies and procedures—informed consent, bedrails, patient...
Words: 3611 - Pages: 15
...is a company that provides electricity to about 7 million customers in the southern states. Bennie Gordon is one of the accounting managers at the division level who reports to Sarah Higgins; she is the controller of the division where Gordon works at. Higgins reports to Sam Thornton; Chief financial officer, who he then reports to Vannessa Jones, CEO of Jet Energy Co. The company is only allowed a rate of return on operating income of 12.5 % on sales of electricity, if the company exceeds these rates they would have to give customers cut on the rate they pay. Bennie Gordon has recognized some of accounting entries have not been journalized correctly, causing the company not to cut rates. The case gives an example of how some insures give Jet Energy rebates all the way up to $30.5 million dollars and these rebates have been journalized incorrectly these account entries kept the company from reducing the rates for the customer. Bennie Gordon had known about the situation for about two years and kept quite, now he has decided to speak out and fix the issue. In the first question it ask what steps should Gordon take to make sure the accounting matter is addressed and what steps we suggest to be taken, as well as what are the obligations of Gordon, Higgins, and Thornton. We suggested that Gordon should report what he recognized as incorrect journal entries to the boss Higgins. After reporting the issue he should go back and make the corrections of the journal entries as well...
Words: 496 - Pages: 2
