... The primary purpose of this essay is to comparatively analyze information disclosure of intellectual capital in the UK and China, using the content analysis method on company annual reports. In contemporary society, the importance of intellectual capital (IC) and the popularity of using IC to value a company’s competitiveness have been increasing. The definition offered by the Chartered Institute of Management Accountants (2001) is probably one of the most comprehensive definitions: “…the possession of knowledge and experience, professional knowledge and skill, good relationships and technological capacities, which when applied will give organizations competitive advantage.” Predicting a company’s future market performance is one of the key functions of IC information disclosure (Roslender and Fincham, 2004). Consequently, IC will have a significant role in the future value creation process. This study has some limitations, such as the small sample number, which has implications for how representative the data are. Ten companies in the respective stock markets were selected in the UK and China (total twenty) and content analysis was performed. A larger sample would have made the calculations too complex for the time available. The following paper reports the results of empirical research indicating that the trend of IC information disclosure is steadily increasing in both China and the UK, indicating that British companies had a better approach...
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...Disclosure Analysis Student ACC/422 February 6, 2012 Instructor Disclosure Analysis Paper Companies have many financial reports to reveal to the public every year and quarter. These reports show items such as intangible assets, stockholders equity, and equipment. Financial information reports through the balance sheet, income statement, stockholders equity, and the statement of cash flow. Best Buy’s annual report shows how well the company has been during over the past years and explains cause for changes. Best Buy has seen a decrease in receivables, cash, and cash equivalents over the past few years, yet the merchandise inventory has shown increases. Receivables Best Buy’s receivables consist primarily of amounts due from mobile phone network operators for commissions earned; banks for customer credit card, certain debit card and electronic benefits transfer (EBT) transactions; and vendors for various vendor funding programs (Best Buy, 2011). According to Best Buy (2011), “We establish allowances for uncollectable receivables based on historical collection trends and write-off history. Our allowances for uncollectible receivables were $107 and $101 at February 26, 2011, and February 27, 2010, respectively.” Best Buy has seen a decrease in receivables in the past three years, in fact 2011 saw a 308 million dollar decrease from the prior year (Best Buy, 2011). One possible reason for the decrease may be the economy. Some consumers do not use credit cards for luxury...
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...information’ (MFI). It illustrates how the same type of ‘soft’ intangibles information changes as it progresses through analyst information intermediation processes. The latter concern: company disclosure; analyst acquisition and analysis of company information; analyst reporting processes; and market impacts. The common information concerns ‘soft’ or qualitative information about the company intellectual capital (IC) or intangibles in the company business model. Banks and bank analysts are used as examples. Knowledge, social and economic factors in the wider ‘market for information’ (MFI) are shown to be major influences on ‘soft information’ and how it changes in analyst information intermediation processes. Negative knowledge and social factors play a role in weakening and eventually destabilising economic processes in analyst and the MFI. They were important factors in creating knowledge and information problems in analysts and the MFI, both ongoing, and during the crisis of 2007-09. These factors are also part of a solution to the problems. The solutions include improved, transparent knowledge of business models of companies, analysts, and rest of MFI. They also include active use of social forces to create critical and reflexive performativity conditions in the MFI. The empirical analysis is discussed in a novel theoretical...
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...Introduction This report will give an overview of the aim behind collecting data, types of data collected, methods used and how the collection of the data supports the department’s practices. It will also give a brief outlook on the importance of legislation in recording, storing and accessing data. Why Organisations Need to Collect Data To satisfy legal requirement: every few months there is some request from the government sector to gather, maintain and reports lots of information back to them on how many people do we have in the organization, working hours, how much our expenses for the whole year, we should keep data stored in case information is needed to defend the company legal actions that could arise at any time To provide documentation in the event of a claim: safety legislation and health required that require that records are kept of accidents , whenever an employee make claims to employment tribunals and the employer need to defend such a case he will demands on the accuracy and comprehensive of personal records To provide the organization with information to make decision: since the computer software is developed the information is more readily available, will aid identify problems and helps in taking decision in relation to promotion and salary increases. Types of data that is collected within the organization and how each supports HR or L&D practices There are 2 types of Data that is collected by HR Functions and below is a description of...
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...Ownership and Disclosure A Review of Literature By BADRU Bazeet and Mousa Sharaf Adin Hezam Abstract This is a review of various literatures on ownership and disclosure which has been carried out by various researchers in different countries. So far majorities of the researchers shows that the extent of corporate disclosure is negatively associated with a higher management of ownership structure and the extent of corporate voluntary disclosures is positively related with a higher institutional ownership structure. But findings also show that the negative relationship is weaker if the firm has a higher proportion of independent non- executive directors. Introduction Ownership Structure is a mechanism that aligns the interest of Shareholders and Managers. Corporate governace is the capstone of the activities that can reduce agency costs. Corporate mangers disclosure policies are influenced by firm’s ownership and governance on the level of various types of information disclosure. This is a summary of literature review on ownership structure and corporate disclosure. Studies have shown that ownership structure can be state, legal, managerial and block holder depending on the countries and cultural environment. Blockholder ownership is the percentage of shares held by substancial shareholders( that is shareholdings of 5% or more). Jensen and Meckling (1976) argue that substancial shareholders are expected to have both greater power and incentives to monitor management, as...
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...JOURNALISM (PCIJ), (COLLECTIVELY, THE "RIGHT TO KNOW. RIGHT NOW! COALITION") EXPLANATORY NOTE The people's right to information held by government is expressly recognized in no less than the Constitution. Article III (Bill of Rights), Sec. 7 of the 1987 Constitution states: The right of the people to information on matters of public concern shall be recognized. Access to official records, and to documents and papers pertaining to official acts, transactions, or decisions, as well as to government research data used as basis for policy development, shall be afforded the citizen, subject to such limitations as may be provided by law. Complementing the Bill of Rights provision on FOI is the state policy of full disclosure of all state transactions involving public interest. Article II (Declaration of Principles and State Policies), Section 28 reads:...
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...Running head: DISCLOSURE ANALYSIS PAPER Disclosure Analysis Paper Mandy Diaz University of Phoenix Michael Littlejohn ACC422 / Intermediate Financial Accounting II August 23, 2010 Disclose Analysis Paper The consolidated financial statements include the accounts of Wal-Mart Stores, Inc. and its subsidiaries. Significant intercompany transactions have been eliminated in consolidation. Investments in which Wal-Mart has a 40% to 60% voting interest and which Management control are accounted for using the equity method. The management at Wal-Mart has developed and maintains a system of internal and disclosure controls, including an extensive internal audit program. Those controls are designed to provide reasonable assurance that the Company's assets are protected from improper use and that Wal-Mart's accounting records provide a reliable basis for the preparation of financial statements. They continually review, improve and modify their systems and programs in response to changes in business conditions and operations and on the recommendations that are made by Wal-Mart's internal and external auditors. They believe that the system of internal and disclosure controls provides reasonable assurance that Wal-Mart's assets are safeguarded and that the financial information disclose is reliable. Wal-Mart considers investments with a maturity of three months or less when purchased to be cash equivalents. The majority of payments due from banks for third-party...
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...Disclosure Analysis Paper General Motors, one of the largest cars and trucks manufacturer, is more than a century old and has a large scope of the industrial activities, mostly focusing on the motorized transportation with engineering and manufacturing to make all possible. GM was founded in 1908, by William Durant, as a holding company for Buick and McLaughlin Stocks. Global headquarters are located in Detroit, Michigan with manufactures located throughout 35 countries. GM designs, builds and sells trucks, cars and automobile parts around the world, also providing financing services with General Motors Financial Company, Inc. Analyzing results of the business with five segments: GM International Operations, GM North America, GM South America, GM Europe and GM Financial. Consolidated financial statements include accounts and the subsidiaries that are controlled by ownership with a majority voting interest and consolidated interest entities, which are the primary beneficiary. Continuing evaluations with involvement with variable interest entities determines whether GM still have interest that are variable and are primary beneficiaries. When criteria gets met, GM requires consolidation of the VIE’s. Share of earnings or the losses of the nonconsolidated affiliates are included in the consolidated operating using the equity method for accounting when able to exercise significant influence over operating and financial decisions, using the cost method of accounting...
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...Opt-In vs. Opt-Out From the viewpoint of the customer, an advantage of the opt-in versus opt-out approach to collecting personal information is the convenience of knowing personal information will not be collected unless you have opted to allow the organization to collect your personal information. However, I also find it a hindrance to be forced to decide to opt-in or opt-out of personal information disclosure by organizations. When referencing opt-in or opt-out approaches to collecting personal information an advantage to both is that the customer is informed of the organization’s intent to collect and distribute personal information. Many organizations have taken advantage of customers and collected personal information for internal use and distribution without the knowledge or consent of their customers. From the viewpoint of an organization, the opt-out approach would likely be the most desirable methodology. By using the opt-out approach customers must decidedly opt-out of allowing personal information to be collected. I suspect, many customers would not read notification language to opt-out and as a result inadvertently allow their personal information to be collected. As a result, the opt-out approach would probably result in a higher number of customer complaints that their personal information was collected. However, the organization would likely compile more personal information for internal use and sale to outside entities. For any organization the decision to...
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...Journal of Economic Literature 2010, 48:4, 935–963 http:www.aeaweb.org/articles.php?doi=10.1257/jel.48.4.935 Quality Disclosure and Certification: Theory and Practice David Dranove and Ginger Zhe Jin* This essay reviews the theoretical and empirical literature on quality disclosure and certification. After comparing quality disclosure with other quality assurance mechanisms and describing a brief history of quality disclosure, we address two sets of theoretical issues. First, why don’t sellers voluntarily disclose through a process of “unraveling” and, given the lack of unraveling, is it desirable to mandate seller disclosure? Second, when we rely on certifiers to act as the intermediary of quality disclosure, do certifiers necessarily report unbiased and accurate information? We further review empirical evidence on these issues, with a particular focus on healthcare, education, and finance. The empirical review covers quality measurement, the effect of third-party disclosure on consumer choice and seller behavior, as well as the economics of certifiers. ( JEL D18, K32, L15, M31) 1. Introduction A young couple expecting their first child might consult healthgrades.com hospital rankings to help choose where to deliver their baby. A year later, the couple decides they need an SUV and consults performance specifications provided by manufacturers and reads Consumer Reports to learn about reliability. Soon thereafter, the couple ...
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...Disability and Disclosure According to the Americans with Disability Act of 1990, a potential employer cannot ask an employee if he or she has a disability. Despite this law, it may be beneficial to disclose a disability to an employer. This paper reviews the stigma around disability in relation to employment and the importance and benefits of disability disclosure, including those that are invisible, and the fears that may come along with disclosing a disability. Meeting the Quota According to Guimarães (2015), approximately 15 percent of the world is considered disabled. According to the Bureau of Labor Statistics (2015), only 17.1 percent of people with disabilities are employed in the United States; compared to the worldwide statistic...
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...Soon afterwards, Qwest’s stock price had increased significantly, to higher than its original price. It was later discovered that Qwest had not been following the full disclosure principle and were misrepresenting nonrecurring revenue from things such as the sale of capital equipment as “data and internet service revenues”. They also failed to disclose the impact of these nonrecurring revenues. This memo will discuss questions related to the ethics and importance of the full disclosure principle as it relates to this case. 1. The full disclosure principle states that you should include all information that would affect a reader’s understanding of those statements in an entity’s financial statements. This is very important because many of the people who read financial statements in order to invest are not trained accountants. Following the full disclosure principle will allow investors to make informed decisions concerning the company. 2. In this situation, Qwest’s failure to disclose the extent of nonrecurring revenue misled investors into thinking the company was making more money than it actually was. Not only did the company not disclose that a lot of the revenue was nonrecurring, it purposely miscategorized them as “data and internet service revenues”. This information did not follow the full disclosure principle and contributed to investors making poor decisions on the company. 3. This sort of misrepresentation could have been avoided if Qwest...
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...* Business Entity: assumes that the business is separate from its owners or other businesses. Revenue and expense should be kept separate from personal expenses. * Going Concern: assumes that the business will be in operation indefinitely. This validates the methods of asset capitalization, depreciation, and amortization. Only when liquidation is certain this assumption is not applicable. The business will continue to exist in the unforeseeable future. * Monetary Unit principle: assumes a stable currency is going to be the unit of record. The FASB accepts the nominal value of the US Dollar as the monetary unit of record unadjusted for inflation. * The Time-period principle implies that the economic activities of an enterprise can be divided into artificial time periods. §Principles[edit] * Historical cost principle requires companies to account and report assets & liabilities acquisition costs rather than fair market value . This principle provides information that is reliable (removing opportunity to provide subjective and potentially biased market values), but not very relevant. Thus there is a trend to use fair values. Most debts and securities are now reported at market values. * Revenue recognition principle holds that companies should record revenue when earned but not when received. The flow of cash does not have any bearing on the recognition of revenue. This is the essence of accrual basis accounting. Conversely, however, losses must be recognized...
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...Boundaries and self-disclosure In the movie was the first session between Sean and Will. When Will said that Sean might have married the wrong woman from looking at Sean’s picture, Sean gets upset and tells Will to watch it. However, Will continues to push Sean’s button by speaking negatively about his wife. Here, Sean could’ve asked for Will to stop speaking about and say why. However, because of who Will is, he might have kept on speaking about her. Sean shares his experiences with Will to build rapport. This process develops trust and allows for more open speech as a result of Will feeling as if he can relate to Sean. There were three specific points in the movie were change was inspired, all of which were targeted at Will. The first...
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..."Disclosure" opens in a specialist's holding up room where Ruby Turpin is holding up with her spouse, Claud. As she regularly does, Mrs. Turpin relaxes by classifying the other holding up room occupants by class—"white rubbish," working class (like her), et cetera. This is the segretated South, so there are no dark individuals here, yet Mrs. Turpin is glad to judge them, as well. She recognizes a wonderful looking lady as one of her own class, and they start an unmoving discussion that focuses first on their belonging and in the end on their dissatisfaction with social equality demonstrators. They reason that it would be a smart thought to send every single dark peopl back to Africa. Amid this discussion, the other lady's girl, Mary Grace,...
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