...Overview of Airline Industry Depreciation Policies, 12/22/99 CFRA believes that certain airline companies have recently obtained an earnings boost by extending the depreciable lives and increasing the residual values relating to operating aircraft. In addition, some airlines have recently recorded one-time write-downs and losses on the sale of aircraft, leading to questions about the proper depreciable life of aircraft. Typically, an airline’s aircraft depreciation expense is derived by initially estimating both the useful life and the residual value -- or the perceived fair market value of the aircraft at the end of its estimated useful life. To determine the periodic depreciation expense -- which reduces the value of the aircraft on the company’s balance sheet while increasing operating expenses -- the total cost of the aircraft is reduced by the estimated residual value and that sum is divided by the estimated useful life. By increasing the estimated residual value and extending the estimated useful life of its aircraft, an airline company would prospectively record a lower depreciation expense on its income statement and a higher value for each aircraft on its balance sheet. Consequently, the airline would receive a boost to earnings in all future periods and a boost to earnings growth during the four quarters following the change, as prior financial statements are not restated. While near term earnings would be boosted by the reduced depreciation expense, future earnings...
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...First Solar Case Analysis Due to consideration of rising energy demand, global warming and nature of solar power, the solar industry has experienced a rapid development these years. First Solar, as one of the dominant companies in the industry, is suspected and scrutinized by CFRA for aggressive accounting practices. CFRA’s investigation aims at identifying potential risks in several areas, including revenue quality and recognition, inventory levels, customer and geographic diversification, warranty policies, production capacity growth, and supply chain. This case focuses on whether CFRA should flag First Solar and add it to the “biggest concern” list. The stock of First Solar has always been popular among investors considering the company’s outstanding performance. The price-to-earnings ratios of First Solar from the last three years (2006 to 2008) were much higher than the industry average ratios. Therefore, it is reasonable to speculate that prospects for earnings in the future are great. Furthermore, positive opinions from the professional institutions, such as “outperform” and “buy”, gave investors much confidence. The analysts, as well as investors, believed that sustainable increasing earnings and new market expansion could provide solid growth prospects for First Solar. Business Environment Analysis – PEST Analysis Solar energy acting as a promising alternative energy marks a bright future of the solar industry. However, this emerging industry also faces lots of challenges...
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...First Solar Case First Solar Case Analysis Due to consideration of rising energy demand, global warming and nature of solar power, the solar industry has experienced a rapid development these years. First Solar, as one of the dominant companies in the industry, is suspected and scrutinized by CFRA for aggressive accounting practices. CFRA’s investigation aims at identifying potential risks in several areas, including revenue quality and recognition, inventory levels, customer and geographic diversification, warranty policies, production capacity growth, and supply chain. This case focuses on whether CFRA should flag First Solar and add it to the “biggest concern” list. The stock of First Solar has always been popular among investors considering the company’s outstanding performance. The price-to-earnings ratios of First Solar from the last three years (2006 to 2008) were much higher than the industry average ratios. Therefore, it is reasonable to speculate that prospects for earnings in the future are great. Furthermore, positive opinions from the professional institutions, such as “outperform” and “buy”, gave investors much confidence. The analysts, as well as investors, believed that sustainable increasing earnings and new market expansion could provide solid growth prospects for First Solar. Business Environment Analysis – PEST Analysis Solar energy acting as a promising alternative energy marks a bright future of the solar industry. However, this emerging industry also...
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...CLASSIFIED EMPLOYEES HANDBOOK THE PERSONNEL COMMISSION ACHIEVING EXCELLENCE THROUGH MERIT REVISED | JUNE 2011 TABLE OF CONTENTS PREFACE I THE LOS ANGELES UNIFIED SCHOOL DISTRICT The LAUSD’s Mission The School System Board of Education and Staff II THE BASICS FOR NEW EMPLOYEES Orientation Expectations and Guidelines Performance Appraisals Disciplinary Action Notification of Absences Use of Telephones and E-mail Change of Address and Telephone Number Accidents and Safety Personal Property Dress Standards for Employees Employee Organizations Credit Unions Charitable Contributions Political Activity Publications III IMPORTANT POLICIES Equal Employment Opportunity Statement Nondiscrimination Statement Ethics Policy Office of the Inspector General - Hot Line Whistleblower Protection Policy Health and Safety Policy Attendance Policy Drug, Alcohol and Tobacco-Free Workplace Policy Workplace Violence Prevention Policy Sexual Harassment Policy Confidentiality and Non-Retaliation Child Abuse Reporting Policy Fingerprint Policy …………………………………………..14 …………………………………………..14 …………………………………………..15 …………………………………………..16 …………………………………………..16 …………………………………………..16 …………………………………………..16 …………………………………………..17 …………………………………………..18 …………………………………………..18 …………………………………………..20 …………………………………………..20 …………………………………………..20 2 ……………………………………………5 ……………………………………………6 ……………………………………………6 ……………………………………………7 ……………………………………………8 ……………………………………………8 ……………………………………………9 ……………………………………………9 …………………………………………...
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...Job Description Recruitment Paper 1) JOB DESCRIPTION Job Title: HR Generalist Job Statement: The HR Generalist is accountable for providing support to all employees and management through effective communication and administration across all functions of the workplace. Under the direction of the Director of Human Resources, the HR Generalist oversees recruitment, employee development, employee relations/labor relations, policy/contract interpretation, compensation administration, and legal compliance. Essential Functions: * Acts as liaison between employee and management to answer questions or address concerns regarding company policies, practices and regulations. * Assists in the development and improvement of human resources programs, policies and procedures, employee professional development, employee safety and training related activities. * Coordinates and monitors the recruitment and selection program; assists with the development of job descriptions, provides support in all phases of recruitment and selection processes including inputting, tracking, screening applicants and scheduling of interviews. * Maintains compliance with federal and state regulations concerning employment. Stays up-to-date on new developments in employment law. * Identifies training needs, develops training modules for training programs, as needed. Develops and delivers training materials. * Performs benefits administration to include claims...
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...bManual on Financial and Banking Statistics LIST OF ABBREVIATIONS ACF AD ADB ADR AFS AGM AIRCSC Auto-Correlation Function Authorized Dealer Asian Development Bank American Depository Receipt Annual Financial Statement Annual General Meeting All India Rural Credit Survey Committee Additive Outliers Auto Regression Auto-Regressive Integrated Moving Average Available For Sale CBS CC CD CD Ratio CDBS CF CFRA CGRA CII CO CP Consolidated Banking Statistics Cash Credit Certificate of Deposit Credit Deposit Ratio Committee of Direction on Banking Statistics Company Finance Combined Finance and Revenue Accounts Currency and Gold Revaluation Account Confederation of Indian Industries Capital Outlay Commercial Paper Consumer Price Index Consumer Price Index for Industrial Workers Capital Receipts Capital to Risk Weighted Asset Ratio Cash Reserve Ratio Council of Scientific and Industrial Research Central Statistical Organisation Central Vigilance Commission Development Action Plan Department of Banking Operations and Development Department of Banking Supervision, RBI Department of Company Affairs, (Now known as Ministry of Companies Affairs, MCA) Government of India AO AR ARIMA AFS CPI ASSOCHAM Associated Chambers of Commerce and Industry of India ATM ATM BIS BOI BoP BPM5 Asynchronous Transfer Mode Automated Teller Machine Bank for International Settlements Bank of India Balance of Payments Balance of Payments Manual, 5th edition Balance of Payments Division, DESACS...
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...Forensic Accounting in Practice Brittany Baskin Dr. John Theodore Contemporary Business November 18, 2012 When you think of the term forensics, what comes to mind? For younger readers CSI probably rings a bell, while the elder crowd would probably think of Quincy. Both TV shows glorified the acts of forensics in a medical sense. But a lesser-known form of forensics has been growing in use around the world. In light of recent accounting scandals throughout the world, investors and regulators have searched for various different methods to improve the safety of investors through more diligent accounting reporting practices. Until recently, detecting fraud was thought to be a part of the responsibility of the accountant. Fraud was something the internal or external auditors were expected to guard against by their periodic audits. We now know that auditors can only check for compliance of a company’s books to the Generally Accepted Accounting Principles (GAAPs) and to company policy; therefore, a new category of accounting had to be established, one which revealed the fraud for companies with suspected fraudulent transactions. This new area of accounting is known as forensic accounting. To fully understand the definition of forensic accounting, we can use parts of the definition of forensic medicine and accounting, both taken from Webster’s Dictionary, to produce a clear definition. Forensic medicine is a “science that deals with the relation and application...
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...Of all industrialized nations, the United States is the only country to not have a law granting paid family leave for mothers’ with a newborn. It was not until 1993, did the U.S. enact the Family and Medical Leave Act which allows workers time off to: bond with a newborn child; treat their own serious health condition; or care for a family member with a serious health condition. The intent for FMLA is to allow workers to balance family life with job obligations, but without wage replacement, many are unable to afford unpaid time off. Further, FMLA’s eligibility requirements exclude a substantial portion of the working population, primarily part-time, temporary, and vulnerable low-wage workers. Some states, such as California have taken action to ameloriate these pitfalls through paid family leave programs using state temporary disability insurance funds. California has been a frontrunner in many public health initiatives including being the first state to provide a comprehensive Paid Family Leave (PFL) program with “a wage replacement requirement for the time parents take to bond with a newborn or adopted child” (Cohen, 2011, p.2 ). This analysis will further examine California’s paid family leave program including its’ provisions, strengths, weaknesses, and its’ overall potential to be used as a template for future federal policy. Limited leave taking in the United States is largely a result of the eligibility restrictions for job-protected leave under FMLA and the inability...
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...EXPERIENCE hbr.org Case Study Suraj Srinivasan is an associate professor at Harvard Business School. Terranola was everyone’s favorite company until an investor went on the attack. by Suraj Srinivasan The Experts A Short-Seller Crashes the Party Guy Gresham, managing director, BNY Mellon Illustration: Maria Raymondsdotter Dan Mahoney, director of research, CFRA HBR’s fictionalized case studies present dilemmas faced by leaders in real companies and offer solutions from experts. This one draws on the HBS Case Study “Trouble Brewing for Green Mountain Coffee Roasters” (case no. 113035), by Suraj Srinivasan and Michael Norris, which is available at hbr.org. W hen the well-known hedge fund manager and short-seller Jeremiah Hughes first put Terranola in the spotlight, issuing ominous warnings about unsold products, a looming patent expiration, and flawed growth projections, the considered judgment of the company’s executive team was to do nothing. “I refuse to dignify this attack with a response,” said Henry Guillart, the CEO, after Hughes gave his negative presentation at an investor conference in New York. That decision turned out to have serious consequences. Terranola’s stock began tanking that afternoon, precipitating a slide that took the Seattle-based company’s reputation, employee morale, and ability to raise capital along with it. A month later, when Hughes spoke again about the company, everyone expected Terranola...
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...Anatomy of an USD 8 billion mistake: HP & Autonomy merger Zachary E. Fender BMGT 335-800 July 14, 2013 Introduction. Hewlett Packard (“HP”) under the executive management of former Chairman Ray Lane and former CEO Leo Apotheker, wanted to acquire a leading software company providing technology solutions in the unstructured data search & retrieval specialty. British software company, Autonomy, was identified as a good candidate and in August 2011 HP published their intent to acquire it. Apotheker was not a popular HP CEO and was criticized about his famous failure with the Palm acquisition which cost USD 1.5 billion. He persuaded HP Board of Directors to proceed with a merger and the result was a disaster: USD 8 billion write down. History of deal. HP had a string of high level executive changes that led to a hasty decision to spend a colossal amount of USD 11 billion to buy a software company that used accounting standards different from the USA. Carly Fiorina then Mike Hurd then Leo Apotheker and now Meg Whitman constituted the ever-changing CEO position. HP CEO Apotheker overruled the opinion of the HP CFO and persuaded the HP Board of Directors to proceed with the acquisition. New and current HP CEO, Meg Whitman, was on the HP Board of Directors that approved the deal and has survived the fallout. A deal was made with the Autonomy founder and CEO, Mike Lynch. Soon afterwards, problems emerged and the entire Autonomy management team...
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...The Financial Accounting Standards Board (FASB) governs the preparation of corporate financial reports. This paper will reflect on the FASB conception, its accountability, and members of the board. Furthermore, in many ways, the FASB standards known as generally accepted accounting principles (GAAP), places limitations on business practices and financial reporting requirements; but it is required since accounting standards are crucial in a market where financial information should be transparent, credible, and easy to understand but some would disagree. These standards help protect both the stakeholder and business communities. When and Why was the FASB created you may ask? In 1973, the FASB was created “ to establish and improve standards of financial accounting and reporting that foster financial reporting by nongovernmental entities that provides decision-useful information to investors and other users of financial reports” (FASB.org, 2012). Those standards are officially recognized as authoritative by the Securities and Exchange Commission (SEC) (Financial Reporting Release No. 1, Section 101, and reaffirmed in its April 2003 Policy Statement) and the American Institute of Certified Public Accountants (Rule 203, Rules of Professional Conduct, as amended May 1973 and May 1979), (FASB.org, 2012). Establishing these standards are extremely important because it effectively provides for an efficient economy when dealing with the allocation of resources to provide a more...
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...Accounting Assignment – Financial Analysis Name：China Medicine Corp. Content I. Company Overview 2 II. Securities Details 5 III. Financial Analysis 8 IV. Corporate Governance 12 V. References 18 Group: Group Member: Company Overview |Business Description: | |(Please provide underwriting analysis of business operations, existing product portfolio, services, etc.) | |The company is a distributor of pharmaceutical and medical products in the People's Republic of China (PRC), including prescription and | |over-the-counter drugs, Chinese herbs, traditional Chinese medicines made from Chinese herbs, nutritional supplements, dietary | |supplements, and medical instruments. The Company is also engaged in research and development with the aim of creating new pharmaceutical| |products and intellectual property that it may sell in the future. | |Strategy, Market and Dependencies: | |(Please provide analysis of the Company’s strategy strengths and weaknesses - business model, market share, and competition. What were | |the...
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...Group Name: The Corporate (A) SL. No. | Name | ID No. | 01 | Md. Saiful Islam | 104821 | 02 | Lenin Azad Polash | 104831 | 03 | Md. Whahiduzzaman Robin | 104865 | 04 | Rafiul Islam Chowdhury | 104965 | 05 | Md. Nazmul Hasan | 105043 | Letter of Transmission April 28, 2013 Md. Mosharraf Hossain Chairman Department of management studies Jagannath University, Dhaka. Sub: Submission of Assignment in “Employee Benefits of Walton (company)”. Dear Sir, We are very happy that we have been able to submit the assignment you have assigned to us. The assignment was to prepare the “Employee Benefits of Walton (company)” on the course named “Human Resource Management” as part of our academic activities. For the purpose of preparing the assignment we had to have an in-depth knowledge on Employee Benefits and the company Walton as well. This was the first ever opportunity for us to gain proper understanding to Employee Benefits and working on it over a company ever as such practical knowledge. Thank you for giving us the opportunity to learn the real life practice & increase the knowledge on Employee Benefit on the course “Human Resource Management”. Sincerely Yours Group Name : The Corporate (A) Section : A Department of Management Studies Jagannath University, Dhaka Table of Content Title | Subtitle | Page | Introduction | | vi | Background | Background of Bangladesh Small and Cottage Industry | vii | Definition | Definition of SME given...
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...COUNTY OF VENTURA CAFR ANALYSIS PA615 – Public Financial Management Instructor, All Holliman California State University, San Bernardino Carrie Harmon, Scott Perkins, Dana Cano, Veronica Pinkett-Veal, Lydia Khalil, Holly Benton June 10, 2010 Contents Executive Summary 2 Cover, Table of Contents and Formatting 3 Introduction 3 Independent Auditor’s Report 5 Management’s Discussion and Analysis 6 Basic Financial Statements 6 Government-wide Financial Statements 7 Fund Financial Statements 8 Government, Proprietary, and Fiduciary Funds – Financial Statements 10 Summary of Significant Accounting Policies (SSAP) 14 Note Disclosure (other than SSAP and pension-related disclores) 19 Required Supplementary Information (RSI) 19 Combining and Individual Fund Information and Other Supplementary Information 21 Statistical Section 22 Other Considerations 23 Executive Summary The purpose of this report is to conduct a comprehensive analysis of the County of Ventura’s Comprehensive Annual Financial Report otherwise known as the CAFR. This analysis afforded the group members an opportunity to apply concepts and theories acquired through a graduate level governmental accounting course and provided the group members with a more intimate view of local government finances. The County of Ventura was selected for three primary reasons: 1) the county is located in Southern California and can easily be compared to the County of Riverside; 2) Ventura County...
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...Reflective Summary: Review and reflect on the Health Insurance Billing and Reimbursement Discussion Board. Based on your review and reflection of new learnings in this course, write at least 400–600 words on the following: * What have you learned from others' responses? * What were the most compelling points from the interaction with your fellow students? * How did participating in this discussion help in your understanding of the Discussion Board task? * What approaches could have yielded additional valuable information in the students' networking? * What is still unclear after the discussion with your classmates that needs to be clarified? During week ones discussion board assignment, we discussed the different types of health insurance billing and reimbursement methods. This discussion board assignment required taking the time to research the history of health insurance and how it has evolved over the years to the system that we know it as today. By utilizing the discussion board portion of this class, I was able to learn many things from my classmates’ postings. I learned the many different methods of healthcare reimbursement that is still currently used today. I learned the history of health insurance, and why it was developed for the patients in the first place. I also learned many different views and opinions of my classmates that allowed me to reconsider and further educate myself on the views of the future of the healthcare industry. The most...
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