...Associate Program Material Appendix A Final Project Overview and Timeline Final Project Overview The final project consists of a currency conversion application. This application—similar to simple, practical programs on many travel or financial websites—includes the following elements: • Complete requirements analysis • Design • Verification • Validation and test documentation The currency conversion application is a menu-driven program that allows users to select one of five international currency types, input the amount of a foreign currency, and convert the foreign currency to dollars. The program displays the equivalent dollar amount and returns the user to the menu until he or she enters another conversion or quits the program. International currency type (menu selection) • Canadian dollars (rate: 1 U.S. dollar = 1.4680 Canadian dollars) • Mexican pesos (rate: 1 U.S. dollar = 9.5085 pesos) • English pounds (rate: 1.6433 U.S. dollars = 1 pound) • Japanese yen (rate: 1 U.S. dollar = 104.9200 yen) • E. U. euro (rate: 1 U.S. dollar = 0.7676 Euros) Final Project Timeline You should budget your time wisely and work on your project throughout the course. As outlined below, some CheckPoints and assignments in the course are designed to assist you in creating your final project. If you complete your course activities and use the feedback provided by the instructor, you will be on the right track to successfully complete your project...
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...Input-Process-Output |Input |Process |Output | |Currency Type |Get User Input |Currency type | |Currency Amount | |Currency Amount | |Exchange Rate | |Exchange Rate | |Currency Type |Choose correct type |Currency Type | |Enter Currency Amount |Calculate total to the |Dollar Amount | | |nearest Dollar amount | | |Foreign Currency Amount |Convert to U.S. Dollars |U.S. Currency Amount | |Currency Type |Display Results | | |Currency Amount |...
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...Associate Program Material Appendix K Currency Conversion Peer Review Design Inspection Report |Programmer’s Name: |Ken | |Date of Inspection |4/1/2012 | |Inspector’s Name: |Ken | Use the following criteria to evaluate the Currency Conversion Test Procedure. If the answer to the item question is yes, place an X next to that item under the Yes column. If the answer is no, add details next to that item under the Comments column. | |Yes |Item |Comments | | |X |Is the problem description clear, concise, and accurate? | | | |X |Are the inputs to the program identified? | | | |X |Are the outputs to the program identified? | | | |X |Does the test input result in the expected output? | | List of Defects Identify defects by checklist number and observed error, but do not include any...
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...IT/210 Final Project Currency Consolidation Requirements. Problem: Converting Currency A currency conversion application in a menu based system allowing users to select one of five set currencies to convert to and from the US dollar. The program will display the amount and will loop back to the beginning to allow another conversion or termination of the program. Currency Selections Canadian dollars (1US = 1.468 Canadian) Mexican pesos (1US = 9.5085 Pesos) English Pounds (1US = .66 Pounds) Japanese yen (1US = 104.92 yen) French francs (1US = 6.2561 Francs) Application-Level Requirements List 1. There should be a series of screens, in the application, that will help the user to input specified information. 2. Include general information and the title on the first screen 3. There should be explanatory material or external documentation. 4. Comments should be included in the program because this will allow other programmers to follow and track what has been done. 5. Should include the ability to clear the inputs and start the calculations over (just in case there are errors) Input process and output chart. INPUT | PROCESS | OUTPUT | Menu Options | Display Menu | Menu Options | Menu ChoiceCurrency | Get User Input | Menu choiceCurrency | CurrencyConversion formula | Convert Currency | Equivalent US dollar | Hierarchy Chart Main Module Main Module Display_Resluts Display_Resluts Get_Int_Value Get_Int_Value Display_Menu...
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...must be put into an account by a party opening up a futures position. When a transaction is initiated, a futures trader puts up a certain amount of money to meet the initial margin requirement; how ever, the remaining money is not borrowed. The amount of money deposited is more like a down payment for the commitment to purchase the underlying at a later date. Alternatively, one can view this deposit as a form of good faith money, collateral, or a performance bond: The money helps ensure that the party fulfills his or her obligation.' -margin requirements stock: are set by federal regula tors. -In futures markets, margin requirements are set by the clearinghouses. -daily settlement/marking to market: the conversion of gains and losses on paper into actual gains and losses. As margin account balances change. -The maintenance margin requirement is lower than the initial margin requirement. If the money in the margin account at the end of the day falls below the maintenance margin require ment, the trader must...
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...difference between the fair value and actual purchase value is accounted for as goodwill. However, it is hard to determine whether the difference should go to goodwill in this case without enough information in this case. If the $6 million price which paid by GPI is a bargain purchase, GPI should recorded the gain in the financial statement; if not, the difference will be adjusted into goodwill. GPI’s current accounting treatments will understate the PPE and overstate the goodwill in the consolidated balance sheet. At the same time, it will understate the depreciation expense of PPE and overstate the profit as a result. Therefore, GPI need to make necessary adjustments on the consolidated financial statement as stated above. Foreign Currency Conversion According to the current information provided, AOI is a self-sustaining subsidiary, thus the current-rate method is used in translating the financial statement of AOI when preparing consolidated financial statement. Assets and Liabilities should be translated at the current rate, while Revenues and Expenses are at the average rate. Any resulting gain or...
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...maximizing value for its shareholders. Strategic financial management also means that short-term goals may occasionally need to be sacrificed to meet longer-term objectives. A typical example is when a loss-making company trims its asset base through factory closures or headcount reduction in order to reduce operating expenses. While such actions have a detrimental effect on near-term results because of restructuring costs and other one-time items, it positions the company to achieve profitability in the longer term. (c ) Short Term Financial Management and Strategy Chapter 15: Short Term Financial Management Learning Goals Describe the scope of short-term financial management and the cash conversion cycle. Explain the funding requirements of the cash conversion cycle and strategies for minimizing negotiated liabilities. Understand inventory management:...
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...payment & the economic crisis faced by India forced India to adopt economic reforms. Government restrictions can often result in a currency with a low convertibility. For example, a government with low reserves of hard foreign currency often restrict currency convertibility because the government would not be in a position to intervene in the foreign exchange market (i.e. revalue, devalue) to support their own currency if and when necessary. Convertibility is the quality that allows money or other financial instruments to be converted into other liquid stores of value. Convertibility is an important factor in international trade, where instruments valued in different currencies must be exchanged.1 Currency Convertibility means the ability to freely exchange the currency of one Member State into the currency of another Member State. For example, a Barbadian should be able to easily purchase goods in a store in Port of Spain with his Barbadian dollars and receive his change in Trinidad and Tobago dollars. However, this does not always happen because of the existence of two different exchange systems in CARICOM – Fixed and Floating. Currency convertibility implies the absence of exchange controls or restrictions on foreign exchange transactions. The ease with which a country's currency can be converted into gold or another currency. Convertibility is extremely important for...
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...Doe: As a long-time admirer of the outstanding work that your organization has done in the community, I particularly enjoyed having the opportunity to see how you function from the inside. This correspondence outlines the complete scope of work you requested, including objectives, procedures, identification of responsibilities, and estimated fees. OBJECTIVE Provide professional assistance to determine best-suited information system available to meet the business needs based on data input; processes to add, change, or delete data; outputs such as reports or data files that will be exported to another system. Discuss the benefits and drawbacks of chosen information system .Examine the long term benefits on new system including the real costs of distributed software development over centralized development. Install hardware and software requirements making sure configuration is correct and ensuring current network or system is compatible with system. Evaluate additional expenditures for support, maintenance, and training. Success of this project is dependent not only on the software, but also on your personnel's skill, effort, and willingness to work as a team. SCOPE OF SERVICES Procedures Gather information about business needs and determine best-suited information systems for company by explaining various types of information systems available to you.. Explain costs, benefits of system, and drawbacks of the system. Install management software system to current system...
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...A REPORT ON INTERNATIONAL TRADE FINANCE (PROCEDURE, DOCUMENTATION, FOREX AND RISK) - With Reference to KOTAK MAHINDRA BANK The project report is submitted to the Department of International Business in partial fulfillment of course curriculum for the degree of MASTER OF BUSINESS ADMINISTRATION (INTERNATIONAL BUSINESS) Submitted by DURGA ANAND SANIPILLI REG NO: 1105616 Under the guidance of DR.MOHAN K PILLAI, & MR. M RAVI CHANDRA HOD, Department of international business, Associate vice president and BM Pondicherry University. Kotak Mahindra bank Hyderabad. DEPARTMENT OF INTERNATIONAL BUSINESS SCHOOL OF MANAGEMENT PONDICHERRY UNIVERSITY...
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...with the local bank from the beginning. The production facilities are old but were readily adaptable and had been well maintained. Baker also possessed a good chemist and a flexible production system, even though his father who was a brilliant chemist and the founder of this company had recently retired. * 2. Problem finding In Feb. 2006, Baker’s first international foray was dealing with Brazilian toy manufacturer Novo of 1,210 gallons. Novo was considering a second order 50% larger than original one. Baker was excited about the fact that they can expand their business to abroad as well as they can generate big margins from their sales with Novo. However receipt of payment from the insured in a foreign currency sale last illustrates the potential currency risk as the exchange-rate had changed since the time Baker and Novo had agreed on a per-gallon price. As a result profits generated from the first order was not as big as Baker anticipated and given further anticipated changes in exchange rates the new order would even gone worse than...
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...study of the various functional areas of accounting in all countries of the world, as well as the activities of a number of supranational organizations. C. This book provides an overview of the broadly defined area of international accounting, with a focus on the accounting issues encountered by multinational companies engaged in international trade and invested in foreign operations. II. There are several accounting issues encountered by companies involved in international trade. A. One issue is the accounting for foreign currency-denominated export sales and import purchases. An important issue is how to account for changes in the value of the foreign currency-denominated account receivable (payable) that occur as exchange rates fluctuate. B. A related issue is the accounting for derivative financial instruments, such as forward contracts and foreign currency options, used to hedge the foreign exchange risk associated with foreign currency transactions. III. There is an even greater number of accounting issues encountered by companies that have made a direct investment in a foreign operation. These issues primarily result from the fact that GAAP, tax laws, and other regulations differ across countries. A. Figuring out how to make sense of the financial statements of a foreign acquisition target prepared in accordance with an unfamiliar GAAP when making a foreign direct investment decision. B. Determining the correct amounts to include in consolidated financial...
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...study of the various functional areas of accounting in all countries of the world, as well as the activities of a number of supranational organizations. C. This book provides an overview of the broadly defined area of international accounting, with a focus on the accounting issues encountered by multinational companies engaged in international trade and invested in foreign operations. II. There are several accounting issues encountered by companies involved in international trade. A. One issue is the accounting for foreign currency-denominated export sales and import purchases. An important issue is how to account for changes in the value of the foreign currency-denominated account receivable (payable) that occur as exchange rates fluctuate. B. A related issue is the accounting for derivative financial instruments, such as forward contracts and foreign currency options, used to hedge the foreign exchange risk associated with foreign currency transactions. III. There is an even greater number of accounting issues encountered by companies that have made a direct investment in a foreign operation. These issues primarily result from the fact that GAAP, tax laws, and other regulations differ across countries. A. Figuring out how to make sense of the financial statements of a foreign acquisition target prepared in accordance with an unfamiliar GAAP when making a foreign direct investment decision. B. Determining the correct amounts to include in consolidated financial...
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...I. Introduction 2 II. Definition 3 A. Difference between translation and conversion 3 B. Role of FASB No. 52 4 1. Determine the functional currency: 4 2. Determine whether the functional currency of the subsidiary is also its home currency. 4 a) If the functional currency is the home currency, 4 b) If the functional currency of the subsidiary is not its home currency, 5 III. Reasons for Translation 5 A. Recording direct business transactions 5 B. Reporting operations conducted through a foreign enterprise 6 C. Measuring the enterprise exposure to the effects of currency fluctuation 7 D. Communicating with foreign audiences-of-interest 7 IV. Financial statement effects of alternative translation rates 7 A. Exchange rates used in translation 7 1. Current rate: 7 2. Historical rate: 7 3. Average rate: 8 B. Risks associated with fluctuations of exchange rates 8 1. Currency transaction risk 9 2. Currency translation risk 9 V. Foreign Currency Translation Methods 9 A. Single rate method 10 1. Current rate method 10 B. Multiple rate method 11 1. Current/noncurrent method 11 2. Monetary/nonmonetary method 11 3. Temporal method 12 VI. Foreign Currency Transactions 13 A. Exchange rate mechanisms 13 1. Independent float: 13 2. Pegged to another currency: 13 3. European monetary system: 13 B. Foreign currency markets 13 1. Exchange Rate 13 2. Types of Exchange rates 14 a) Spot rate: 14 b)...
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...Executive Summary Coloplast has been in operations in Denmark for nearly 60 years. The company specializes in producing medical devices such as disposable ostomy bags, antifungal cremes cleansers and moisturizers. For 42 years, all Coloplast operations were contained within Denmark, however 97% of its revenue was generated by exporting its products beyond its national borders. In 1999 the company changed its philosophy and began to investigate off shoring its production facilities. In 2001 the first Coloplast production facility opened its doors outside of Denmark. The expansion took place in Tatabanya Hungary. This location was chosen because of cheaper labour and land rates, as well as a more favourable tax rate. The city is located in the Western region of the country which provided better infrastructure. Coloplast had no blueprint to navigate through the expansion process, and had to learn and develop best practises by trial and error. By 2004 the management team in Tatabanya had advanced the production system to the point where it was outperforming the longer established Danish facilities. In 2005 Coloplast revealed an aggressive plan of Strategy 2008. In this plan the company states it will strive to achieve a profit margin of 18% while maintaining 10% organic growth. A key pillar of this plan is the continued relocation of volume production to Hungary and further expansion to China. Coloplast is at crossroads, it needs to decide if it has learned enough...
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