...Choosing a degree in Economics is a result of my interest in knowing why economies are they way they are and how capital markets operate. Studying economics at A level further strengthens my will to go further in the subject. Coming from a fast developing country, Nigeria. My interests tend to lean towards macroeconomics and learning how an economy can be driven forward. With the knowledge gained from an economics degree, I intend to someday be a part of the process of driving the Nigerian economy forward. In terms of career paths I intend on entering the commercial world and being a part of a fast growing sector of our economy, such as banking. I would eventually like to run a business of my own. The other subjects I am studying at A Level provide a good grounding in skills and knowledge for this course. The knowledge gained in geography has sharpened my analytical skills as I have learnt to gather and evaluate data. This will be very important for my research skills. Politics is valuable as it helps me look at issues from different angles, improved my essay writing and most importantly, keeps me on top with contemporary world issues and offers insight into how/why political choices are made by governments around the world. My interest in the subject goes beyond the classroom, as I have recently become an avid reader of the economist and financial times. I also read the famous ‘the undercover economist’ which raises questions such as why the gap between rich and poor countries...
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...I have never thought about being a student of economics three years ago before I applied for my undergraduate university. I was the Chief Editor of my high school’s newspaper and I was dreaming about becoming a journalist who builds a better world for the poor and the need and bring equality and prosperity to those less favored community. Three years of Economics study teaches me many things. Among them, the most important one is that there is another approach to the my goal. Many predecessors of mine have proven that the economy study can change the world by their thought and witness. Liberalism leads to the vitality and creativity in the global markets; Malthusianism convinces the developing countries to take actions on the population control; Welfare Economics help balance the living standard between the poor and the rich in some way. These are the changes I wish to make myself. It might not be the most direct way to help people or even a country sort out their financial problems like journalists or social workers do but it is the way that truly make a difference because the power of great thoughts can change the world fundamentally. I would like to be part of it, by making some contributions on Economics. Inspired by Capital in the Twenty-First Century, I am writing an essay about the distinction of distribution with my classmate. I have witnessed the inequality of income distribution : my mother worked as a contract worker for a company where her monthly income was half...
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...I developed interest in studying Economics the very day I was introduced to the subject in my first year in the secondary school. Although I had the penchant to become a Financial Management Specialist, I realized that I could hardly become a successful one without studying Economics. This underpinned my resolve to combine Economics with Accounting during my undergraduate studies. My exposure to the intermediate level of Economics broadened my reasoning and decision-making skills which further deepened my interest in Economics. I have realized that Economics is important in every aspect of human life and that the study Economics offers a plethora of Vista. As Finance Manager, I employ both micro and macro economic data in taking financial decisions that will be in the best interest of my employers and stakeholders of the firm. For example, I consider economic factors such as inflation, interest and exchange rates and the principle of opportunity cost when performing my financial planning and treasury management functions. Apart from helping an individual to make rational choices, decisions or maximize any resources no matter how small, the study of Economics enables one to evaluate the effect of economic policies on the welfare of citizens. It also helps to evaluate government policies on...
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...opportunities for the company. The corporate financial system often operates under the responsibility accounting theory. This dictates that a business should place individuals in charge of activities under their direct control. For example, one manager may be responsible for budgeting and cash-flow forecasting. Another manager is over capital structure and another over business valuation. This segregation allows each manager to focus on increasing the value added from their section of the department. The aggregate value added is the result of all managers working together. Economy of Bangladesh is in the group of world’s most undeveloped economics. Bangladesh is facing challenges from different angles though its prospect is bright in the future. Money and Banking is the center around which all-economic science clusters. Financial statements are prepared on the basis of facts in the form of cost data recorded in accounting books. The original cost or...
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...Department of Economics Undergraduate Program Application Thank you for considering the Department of Economics Undergraduate Program. Please read through these instructions carefully. Application Deadline & Notification: 2nd Friday (at 5pm) of each quarter (Autumn, Winter, or Spring only) for admission into the subsequent quarter. Applicants will receive a notification via email by the 5th week of the quarter regarding the admission committee’s decision. Application Checklist (please see econ.washington.edu/undergrad for complete details): Completion of Prerequisite Coursework All applicants must have: At least 45 academic credits earned (“sophomore”class standing). Completion of one English Composition course. 2.5 minimum GPA for coursework completed at UW; 2.5 minimum Weighted GPA (see application form). Applicants to the Bachelor of Arts must have ECON 200, ECON 201, eligible statistics course, and MATH 112 or MATH 124 completed with at least a 2.0 grade in each course and a 2.5 average across these 4 courses. Applicants to the Bachelor of Science must have ECON 200, ECON 201, eligible statistics course, and MATH 124, MATH 125, and MATH 126 completed with at least a 2.0 grade in each course and a 2.5 average across the first 4 courses listed. MATH 125/126 will be considered separately from the “prerequisite average” Regarding STATISTICS: Eligible statistics courses include: STAT 311, Q SCI 381, STAT 340, STAT 341, STAT 390. Ineligible statistics courses...
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...Financial statements are based on historical costs and as such the impact of price level changes is completely ignored. They are interim reports. The basic nature of financial statements is historic. These statements are neither complete nor exact. They reflect only monetary transactions of a business. The following limitations may be noted: 1. The financial position of a business concern is affected by several factors-economic, social and financial, but financial factors are being recorded in these financial statements. Economic and social factors are left out. Thus the financial position disclosed by these statements is not correct and accurate. 2. The profit revealed by the Profit and Loss Account and the financial position disclosed by the Balance Sheet cannot be exact. They are essentially interim reports. 3. Facts which have not been recorded in the financial books are not depicted in the financial statement. Only quantitative factors are taken into account. But qualitative factors such as reputation and prestige of the business with the public, the efficiency and loyalty of its employees, integrity of management etc. do not appear in the financial statement. 4. The rupee of 1995, as for example, does not mean the same as the rupee of 2010. The existing historical accounting is based on the assumption that the value of monetary unit, say rupee, remains constant and accordingly assets are recorded by the business at the price at which they are required and the liabilities...
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...Assignment 1: Application of Financial Statement Tasha L. Hodge Professor Doshi Acct 557: Financial Accounting. December 5, 2011 Abstract The purpose of this paper is to explain my reasoning on the importance of financial statements in a personal and professional environment. The balance sheet and the income sheet are the two most important factors that all business needs in order to attract and keep investors. The balance sheet reports assets, liabilities and equity while Income statement lists total income and total expenses. Select either the balance sheet or income statement and explain how the use of it may be applied to your everyday life. According to the principles of accounting website, “ Accounting is a set of concepts and techniques that are used to measure and report financial information about an economic unit. The economic unit is generally considered to be a separate enterprise. The information is reported to a variety of different types of interested parties ( principles of accounting, 2011). To greatly explain, these interested parties use either a balance sheet or income statement. The balance sheet, “reports the assets, liabilities, and stockholders equity of a company at a specific date”, (Weygandt, 2011). The income statement “ presents the revenues and expenses and resulting net income or net...
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...CHAPTER 1 Introduction to Financial Statements ASSIGNMENT CLASSIFICATION TABLE |Study Objectives | |Questions | |Brief Exercises | |Exercises | |A Problems | |B Problems | | | | | | | | | | | | | |1. Describe the primary forms of business | |1, 2 | |1 | |1 | |1A | |1B | |organization. | | | | | | | | | | | | | | | | | | | | | | | |2. Identify the users and uses of | |3, 4, 5, 6 | |2, 3 | |1 | |4A | |4B | |accounting. | | | | | | | | | | | | | | | | | | | | | | | |3. Explain the three principal types of | |7, 8 | |4 | |1 | |2A, 3A | |2B, 3B | |business...
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...Application of Financial Statement Strayer University A balance sheet is a financial statement that reports the assets, liabilities, and stockholder’s equity at a specific point in time. The balance sheet is like a snapshot of the financial condition of a company. The asset section lists everything that the company owns, such as cash, inventory, accounts receivable, and long-term assets such as property, land or equipment. The asset section helps analysts, investors, and creditors understand what a business owns and what their objectives are. The liability section of the balance sheet reports what a company owes, such as debts or loans. Liabilities are divided into two separate sections, current and long-term liabilities. Current liabilities are financial obligations that are to be paid within the coming year such as accounts payable and short-term loans. Long-term liabilities are obligations that the company expects to pay after one year such as bonds payable and mortgage payable. In understanding the assets and liabilities sections of the balance sheet, the manager can evaluate the relationship between the current assets and current liabilities. These relationships can be expressed in ratios such as the current ratio and working capital. The current ratio is calculated by dividing the current assets by the current liabilities. Working capital is calculated by subtracting the current liabilities from the current assets. The amount of working capital is an indicator of the...
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...TABLE OF CONTENT 1.1 Understand the organizational purposes of business ……………………...………... 2 Vision….….………………………………………………………………………..…2 Mission..…….…………………………….....….………………….............................2 Objective……..…………………...…………………………………………………..3 Goal……….……………………..…...……………………………………………….3 2.1 Economic systems attempt to allocate resources effective………………..………......4 Economy market………..……………………………………………………………..4 Command market………….…….………………………………………………….....4 Mixed market……………...………..…………………………………………………4 2.2 The impact of fiscal and monetary policy on business organizations …….....…..…...6 Fiscal policy…....…………..…………………………………………………………6 Monetary policy………………………………………………………………………6 2.3 The impact of competition policy …………………………………………………....8 1.1Understand the organizational purposes of business. A) Vision Vision is the organization aims to grow in the future. It is seen as the key for any company or business want to achieve certain success. Nothing was ever created without a vision. It guides and gives organization direction and purpose, and can serve as a powerful motivate for it. For example: At Nestlé, Nestle believe that research can help them make better food so that people live a better life. Good Food is the primary source of Good Health throughout life. Nestle strive to bring consumers foods that are safe, of high quality and provide optimal nutrition to meet physiological...
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...Economic Analysis of Apple Inc. Introduction 3 Industry analysis 4 Personal computers 4 Computer software 5 iPod and iTunes 5 Company analysis 7 Apple Computers Inc 7 Apple Inc 8 Innovation 9 Profitability 9 Recommendations 11 Personal computing 11 Conclusions 12 References 13 Appendix 14 Introduction The primary purpose of this report is to execute an economic analysis on Apple Inc. We will review the impacts that the competitive market has had on Apple, since it was founded in 1976. This report will detail how Apple Inc. is both a dire example of the adverse effects of monopolistic competition on a company as other companies into the market; as well as an exceptional example the economic rewards yielded by innovation and brand differentiation within a competitive market. An analysis of Apple Inc would be incomplete without reviewing its past and present competitors. Reviewing these competitors will help the reviewer gain insight into comparative advantages held by other companies and the economic impact this has had on Apple Inc. this report will review the industry as a whole in order to understand the impacts of industry level supply and demand upon Apple Inc. The report will briefly examine the impact of market prices and international trade as an aspect of this report. More importantly, it will review specialization is undertaken by Apple Inc and the economic benefits gained by this course of action. Essentially, the economic view of Apple Inc is...
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...Positive and Normative Analysis Positive analysis uses what is occurring in an economy as a basis for any statements regarding the future. A positive economic statement is based on fact and can have its accuracy tested. In contrast, a normative economic statement is subjective and cannot be proven or disproven. The statement “Minimum wages create unemployment among young and unskilled workers.” is a normative analysis. This theory could not be tested because every individual would have a different opinion regarding reasons for unemployment within the groups being discussed. Also, testing data from two different groups to see if their reasons for unemployment are the same would be extremely difficult to conclude with accuracy. “If the price of a product in a market decreases, with other things being equal, the quantity demanded will increase.” is an example of positive analysis. This theory could be tested using any product on the market and its accuracy would be proven or disproven easily. If you sold “Acme” hand soap at a discount of $0.50 a bottle, and all other hand soaps remained the same price, it would be reasonable to assume that “Acme” hand soap would sell more frequently. Another example of normative economics is “A little bit of inflation is worse for society than a little bit of unemployment.” because opinions would be varied on this topic. Personal beliefs would keep all people from agreeing on which is actually worse for society as a whole. Differences in social...
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...Eagle Bank Assignments 1. Type of crime * Scenario 1 is economic crime which is the illegal acts committed in order to achieve economic gain. * Scenario 2 is white collar crime. The person used his economic power for some purpose of illegal gain and also committed illegal act for personal gain. 2. Subject * Scenario1: suspects are the individual A,B and C * Scenario2: suspect is Smith 3. Victims * Scenario1: * the bank’s employees and customers, * customers who deposit money in the bank, * FDIC which insures the bank * Scenario2: * Smith’s family because the business profits were their financial source, * the bank because they lend money but may not collect the money back, * the store employees because they may lose their jobs * customers of the store. 4. Scenario1: * The damage would be the economic loss of $2,300 * bank’s reputation because customers may feel unsafe to go to that bank. Scenario2: * the 1 million dollar Smith borrowed from bank but cannot return, * the extra money that needs to spend on the repair of the building * attorney fees 5. Witnesses: * Scenario1: * the bank employees, * the customers who were in the bank during the robbery, * people who were within the visible area and saw what happened in the bank and the escape * Scenario2: * banks’ staffs who reviewed his financial status and rejected his application, * Eagle Bank’s...
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...ECO320-65: CAPSTONE Economic Analysis of Apple Inc Student 2 Cleary University May 14, 2007 ECO320-65: CAPSTONE Economic Analysis of Apple Inc. Introduction 3 Industry analysis 4 Personal computers 4 Computer software 5 iPod and iTunes 5 Company analysis 7 Apple Computers Inc 7 Apple Inc 8 Innovation 9 Profitability 9 Recommendations 11 Personal computing 11 Conclusions 12 References 13 Appendix 14 Introduction The primary purpose of this report is to execute an economic analysis on Apple Inc. We will review the impacts that the competitive market has had on Apple, since it was founded in 1976. This report will detail how Apple Inc. is both a dire example of the adverse effects of monopolistic competition on a company as other companies into the market; as well as an exceptional example the economic rewards yielded by innovation and brand differentiation within a competitive market. An analysis of Apple Inc would be incomplete without reviewing its past and present competitors. Reviewing these competitors will help the reviewer gain insight into comparative advantages held by other companies and the economic impact this has had on Apple Inc. this report will review the industry as a whole in order to understand the impacts of industry level supply and demand upon Apple Inc. The report will briefly examine the impact of market prices and international trade as an aspect of this report. More importantly, it will review specialization...
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...average of 18 minutes per item set (vignette and 6 multiple choice questions) for a total of 180 minutes (3 hours) for this session of the exam. By accessing this mock exam, you agree to the following terms of use: This mock exam is provided to currently registered CFA candidates. Candidates may view and print the exam for personal exam preparation only. The following activities are strictly prohibited and may result in disciplinary and/or legal action: accessing or permitting access by anyone other than currently registered CFA candidates and copying, posting to any website, e-mailing, distributing, and/or reprinting the mock exam for any purpose. Marcus Pinto Case Scenario A struggling asset management company recently hired Marcus Pinto, CFA, as chief operating officer (COO). Pinto’s first responsibility is to recommend to the Board of Directors how they can lower costs while still retaining the firm’s client base and how to increase assets under management. Pinto analyzes the firm, its clients’ needs, and general market conditions before presenting his findings to the Board of Directors. At the presentation, he makes the following statements: Statement 1: “If the company adopts the CFA Institute Standards of Professional Conduct, the CFA Institute Research Objectivity Standards, and the CFA Institute Soft Dollar Standards and publicly discloses the company’s compliance, we must be 100% compliant firm-wide. By complying with these standards, our business will grow since clients...
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