...understanding and paying taxes, working with financial institutions, wise use of credit cards and consumer loans, financing automobiles and homes, and the use of insurance for protecting one’s family and property. WEEK 1 - TOPIC 1: PERSONAL FINANCIAL PLANNING Objectives List the five steps in the personal financial planning process. Summarize what influences personal financial planning. Identify parts of a financial plan. Materials READING: Read Ch. 1 of Personal finance - Personal Financial Planning in Action: Developing a Personal Financial Plan. SUPPLEMENT: Appendix A: How to Install Quick Time Movie Player SUPPLEMENT: Appendix B: Personal Financial Planning Worksheet WEB LINK: Decision to Own a Home vs. Rent Video SUPPLEMENT: Video Transcript - Decision to Own a Home vs. Rent Assessment Please see instructor's syllabus for details on assignments. Participation/Discussion Questions WEEK 2 - TOPIC 1: MONEY MANAGEMENT Objectives Describe how to organize and prepare personal financial statements. Identify cash management products and services. Complete a personal cash flow statement. Materials READING: Read Ch. 2 of Personal finance - Money Management Strategy and Skills: Putting Your Financial House in Order. READING: Read Ch. 4 of Personal finance - Managing Your Cash and Savings: Cash Management Strategies. WEB LINK: Toolwire® Student Resources Page TOOLWIRE: Toolwire® Learnscape: Understanding Effective Money Management SUPPLEMENT: Mary's...
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...United States and/or other countries. All other company and product names are trademarks or registered trademarks of their respective companies. Use of these marks is not intended to imply endorsement, sponsorship, or affiliation. Edited in accordance with University of Phoenix© editorial standards and practices. Facilitator Information Carol Ward, MBA, DBA cward123@email.phoenix.edu (University of Phoenix) ciward123@yahoo.com (Personal) (901) 270-9434 (Central Standard Time) Facilitator Availability Dr. Ward is available from 9 a.m.-9 p.m. Central Time on most days, but I attempt to reserve Sunday for my family. During the week, I am online most of the time during that 9 a.m.-9 p.m. time frame. On Saturdays, I tend to be online in the afternoon and evening. If these times are not convenient for you, please let me know. I will be happy to accommodate your schedule, if possible. I will provide you with these times to make it easier to communicate with me, and not to limit our contact. I want you to know that, should you need to contact me outside these time frames, you...
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...Humanities | | |FP/101 Version 4 | | |Foundations of Personal Finance | Copyright © 2011, 2010, 2009 by University of Phoenix. All rights reserved. Course Description This course provides an overview of the elements necessary for effective personal financial planning and the opportunity to apply the techniques and strategies essential to this understanding. Primary areas of study include creating and managing a personal budget, understanding and paying taxes, working with financial institutions, wise use of credit cards and consumer loans, financing automobiles and homes, and the use of insurance for protecting one’s family and property. Policies Faculty and students/learners will be held responsible for understanding and adhering to all policies contained within the following two documents: • University policies: You must be logged into the student website to view this document. • Instructor policies: This document is posted in the Course Materials forum. University policies are subject to change. Be sure to read the policies at the beginning of each class. Policies may be slightly different depending on the modality in which you attend class. If you have recently changed modalities...
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...Task 1 Part A Sole Proprietorship A sole proprietorship refers to a form of organization owned by a single individual. In this business, a single person makes all the decisions and does not have to engage a legal department to approve contracts. The owner of such a business can only use personal funds even though he or she may have separate checking and savings accounts for the business. The first characteristic of this form of business enterprise is liability. A sole proprietor suffers from unlimited liability. The owner becomes liable personally for all the obligations and debts of the business. The second characteristic is income taxes. Businesses pay federal income tax just like individuals. In a sole proprietorship, the owner pays income tax only once on the business income, which he or she reports on their personal income form. The third characteristic is control. In a sole proprietorship, the owner makes all the decisions concerning the business. In this business, the owner does not have to grant control to other people. The fourth characteristic is profit retention. If a sole proprietorship makes profits, the money belongs exclusively to the owner. The reason is that the owner and the business are one. The fifth is location. The owner can move or expand the business to a different state without consulting anybody. This is because the owner is the sole decision maker. The sixth characteristic is convenience or burden. The owner makes sure that the business complies...
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...Introduction to Business - 2006 SLC 1) The concept that the boss does the thinking and the employee does the work is outdated. A) True B) False 2) The need for effective management decreases as the business expands. A) True B) False 3) Consumerism is built of the philosophy of “Let the Buyer Beware.” A) True B) False 4) An informal group can help or hinder the proper functioning of a business. A) True B) False 5) Consumerism is an organized movement of citizens and government agencies to improve the rights and power of sellers in relation to buyers. A) True B) False 6) A sole proprietorship is a business owned and operated by a board of directors. A) True B) False 7) As a rule, for certificates of deposit the rate of interest your money earns is higher if you agree to keep your money on deposit for a longer period of time. A) True B) False 8) The free enterprise system is a command economic system. A) True B) False 9) The Fair Labor Standards Act does not require businesses to give its employees sick leave or paid vacations. A) True B) False 10) There are restrictions on the owner’s personal liability in a sole proprietorship. A) True B) False 11) The death of a majority stockholder of a corporation results in the dissolution of the corporation. A) True B) False 12) Liability law has had an impact...
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...CHAPTER 1 UNDERSTANDING AND WORKING WITH THE FEDERAL TAX LAW SOLUTIONS TO PROBLEM MATERIALS DISCUSSION QUESTIONS 1. (LO 1) When enacting tax legislation, Congress often is guided by the concept of revenue neutrality so that any changes neither increase nor decrease the net revenues raised under the prior rules. Revenue neutrality does not mean that any one taxpayer’s tax liability remains the same. Since this liability depends upon the circumstances involved, one taxpayer’s increased tax liability could be another’s tax saving. Revenue-neutral tax reform does not reduce deficits, but at least it does not aggravate the problem. 2. (LO 2) Economic, social, equity, and political factors play a significant role in the formulation of tax laws. Furthermore, the IRS and the courts have had impacts on the evolution of tax laws. For example, control of the economy has been an important economic consideration in passing a number of laws (e.g., rapid depreciation, changes in tax rates). 3. (LO 2) The tax law encourages technological progress by allowing immediate (or accelerated) deductions and tax credits for research and development expenditures. 4. (LO 2) Saving leads to capital formation and thus makes funds available to finance home construction and industrial expansion. For example, the tax laws provide incentives to encourage savings by giving private retirement plans preferential treatment. 5. (LO 2) a. Section 1244 allows ordinary loss...
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...FIN 534 Discussion Questions Week 1-11 Solution Follow www.hwmojo.com link below to purchase solution http://www.hwmojo.com/products/fin-534-discussion-questions We have all assignments, homework problems set and exams for FIN 534. Email us support@hwmojo.com FIN 534 Week 1-11 Discussion Questions Solved Week 1 DQ 1 Discussion 1: An Overview of Financial Management. A. In your judgment, what were the principal causes of the recent financial crisis and Great Recession? Would you include Government policies that encouraged housing purchases for those who could not afford them, artificially low interest rates implemented by the Federal Reserve, banks and mortgage brokers who were greedy, the failure of Government regulators to provide proper oversight to the banks and other financial institutions, individuals who borrowed and spent more than they should have, or some other causes? . B. From the e-Activity, examine ethical behavior within firms in relation to financial management. Provide at least two (2) recent (in the last 5 years) examples (other than Enron, WorldCom, and Bernie Madoff) of companies that have been guilty of ethics-based malfeasance related to financial management. What were the specific sanctions that were imposed and explain why the sanctions and penalties were appropriate? . C. From the scenario (Scenario Topic: The primary objective of the corporation is value maximization), what are at least two (2) actions that Trevose Fitness...
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...BUS3062 Assignment 1, Week 1 1. Define the terms finance and financial management, and identify the major sub-areas of finance. Finance is the way in which money is used and handled; especially, the way in which large amounts of money are used and handled by governments and companies (Merriam-Webster, 2014). Financial Management is the planning, directing, monitoring, organizing, and controlling of the monetary resources of an organization (Businessdictionary, 2014). The major sub-areas of finance are: investments—involves methods and techniques for making decisions about what kinds of securities to own; financial management—deals with a firm’s decisions in acquiring and using the cash that is received from investors or from retained earnings; financial institutions and markets—the two entities work in different ways to facilitate capital flows between investors and companies; International finance—involves investors, companies, business operations, and capital markets that may be located in different companies(Cornett, Adair, & Nofsinger, 2014,). 2. What are the three basic forms of business ownership? What are the advantages and disadvantages to each" (Cornett, Adair, & Nofsinger, 2014, p. 21)? Partnership is an organizational form that has multiple individual owners. Each partner can own a different percentage of the firm. Advantages: Business profits are split among the partners according to a prearranged agreement. Received profits are added...
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...Week one notes Note: These notes are not a substitute to the textbook. They merely highlight important points and add some needed information to the assigned text. The title of this course is Management of Financial Institutions. This is a very broad and a far reaching topic. To make it possible, the course will concentrate on Bank management. Many of the concepts we will learn in course are transferable to other financial institutions. To begin the discussion, let us define banks. What is a bank? What do Banks do? A bank is a chartered financial institution that accepts savings deposits and makes commercial loans. This is the most basic definition of a bank. However, if you look at banks, you will see that they take many types of deposits and make many types of loans. In addition, if you are familiar with banks, you will notice that they act as intermediaries in many financial transactions. The banking is a vital function of the economy; without banks, the economy will not function properly. Why? The answer is that banks provide the link between savers and borrowers. In the US, people are net savers and businesses are net borrowers. Without banks and some other financial institutions, the borrowers, businesses, will not be able to raise finds by borrowing from people, the savers. This function takes many forms. We will look at some if these forms in this course and in other courses in the finance concentration in the MBA program. The Nature of Banking in the US ...
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...All human transactions carry these uncertainty traits. These transactions are many and varied but arise essentially, as stated above, as inherently of man and the institution created by him. One of the ways man has tried to manage and control the damaging effects of uncertainty in his institution especially as it relates to his financial transaction in use of budget. These are many varied definitions of budget, according to Obazele (2000:127)in his book titled Accounting for public sector Activities in Nigeria. Budget is defined as a “statement whish express future plans in financial terms.” It is also defined by Okoye (1979: 301). In his book titled Cost Accounting Management Operational Application, as “plans prepared and approved before The of use. A budget is defined in the institution of cost and management Accounting, 1966 edited of Terminology as a financial and/or quantitative statement prepared and approved prior to a defined period of the policy to be pursued during that period for the purpose of attaining a given objective”. Going by the above definitions of budget by previous authors, it could be deduced that a budget as an element of control in it. Control here means a “standard of comparison for checking an experiment which result is known” (Horby : 2000 page 251). Budgetary control according to Pickles and Lafferty (1974:3145) relate to “the use of budgets as control devices whereby predetermined plans or standard, output, income and expenditure are compared...
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...the student will identify one for-profit, one nonprofit, and one government financial environment identified in the week one assignment. Under each category, a detailed discussion of each entity will describe the financial structure and financial policies unique to each environment. The student will discuss financial management practices prevalent in each environment. To conclude, an explanation will ensue of why effective financial management is more difficult in health care than in any other industries. Not-For-Profit “In the United States in 2007 there was 1,569,572 tax-empt organizations accounting for 8.11% of all wages and salaries paid with $2.6 trillion in total assets” (Gary, 2011, p. 1). The American Heart Association is one such entity. The American Heart Association (AHA) is an educational and research organization (Heart, 2013). Not-for-profit (NFP) funders do not have anything to do with the organization’s missions or programs (Gary, 2011). The funders only give money to the organizations, which in-turn the money is transferred into program achievements through the operations. Approximately three-fourths of the funds the AHA receive are allocated to educational and research programs. The AHA believes education and research programs will give the most benefit to the communities. The AHA, like other NFPs are run by board members who make decisions for the best interest of the organization, missions it has, and goals it wants to reach. The AHA board members control...
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...1 Measuring Economic Health Memo Felicia Tate-Harris ECO/212 – Week Four 3/21/2012 ------------------------------------------------- Rana Hashemi Haeri MEMORANDUM TO: Rana Hashemi Haeri FROM: Felicia Tate-Harris DATE: March 21, 2012 RE: Measuring Economic Health Gross Domestic Product (GDP) Economic growth is measured in terms of an increase in the size of a nation's economy. A broad measure of an economy's size is its output. The most widely-used measure of economic output is the Gross Domestic Product (GDP). GDP generally is defined as the market value of the goods and services produced by a country. One way to calculate a nation's GDP is to sum all expenditures in the country. This method is known as the expenditure approach and is described below. 2 There are four government bodies that are involved in the national fiscal policies: * Department of Treasury - The Department of Treasury is the main body that will manage and design the fiscal policy. * Office of management and budget - The office of management and budget, is the section of the government that will develop and analyze fiscal policy. * Office of the president - The office of the president has an input on the decision making regarding the fiscal policy. * Government accountability - There is a government accountability office that will audit the fiscal policy. The Effects of Fiscal Policies on the economy’s Production and Employment: A good fiscal policy means having...
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...Seite 1 DOING BUSINESS IN SWITZERLAND CONTENTS 1 1.1 1.2 1.3 1.4 2 2.1 2.2 2.3 2.4 3 3.1 3.2 3.3 3.4 3.5 3.6 3.7 3.8 3.9 4. 4.1 4.2 4.3 5 5.1 5.2 5.3 6 6.1 6.2 6.3 7 7.1 7.2 7.3 A Brief Survey Geography Population and Languages Political System The Economy Swiss Company Law Governing Law and Forms of Business Enterprises Corporation Books of Account Annual Business Report Taxation of Resident Corporations Liability to Swiss Tax Determination of Taxable Income Tax Privileged Corporations Treaty Benefits for Swiss Resident Corporations Computation of Corporate Taxes Assessment of Corporate Taxes Withholding Taxes of Dividend Distributions of Swiss Corporations Filing of Tax Returns, Assessments of Tax, Tax Litigation Corporate Reorganizations Taxation of Non-Resident Corporations Liability to Swiss Tax Determination of Taxable Income and Capital of Swiss Permanent Establishments Remittance of Profits Withholding Tax Income Subject to Withholding Tax Exemptions from Withholding Tax Withholding and Reimbursement of Tax Indirect Taxes Value Added Tax Stamp Duties Real Estate Taxes Personal Taxation Income Taxes on Residents Income Taxes on Non-residents Other Individual Taxes Seite 2 7.4 8 8.1 8.2 8.3 9 9.1 9.2 10 10.1 10.2 10.3 10.4 10.5 10.6 Tax Returns, Assessment and Payment of Tax Labour Conditions an Social Security Working Conditions Social Security Social Security Treaties Government Incentives Export Risk Guarantee Program Investment Incentives Government Controls...
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...Harvard Business School 9-196-123 Rev. May 10, 2000 Bed Bath & Beyond Strange as it may seem, there’s something romantic about housewares. Visit the giant Bed Bath & Beyond store in Manhattan on a busy Saturday and you’ll see all kinds of couples kissing and cooing as they discuss what size sofa pillows to buy or whether a certain set of burgundy towels will match their bath mats. It’s just one more bit of evidence that America has been in a cocooning mood the past few years. And few people have benefited more from this nest-building trend than Leonard Feinstein and Warren Eisenberg, who founded Bed Bath & Beyond in Springfield, N.J., back in 1971. After 14 fairly sluggish years in the business, the duo in 1985 started experimenting with large stores, running to 20,000 square feet and stacked to the ceiling with towels, curtains, bedspreads and housewares. Feinstein and Eisenberg haven’t looked back since. This year, with 49 of these superstores in operation, Bed Bath & Beyond is expected to ring up sales of $415 million, an increase of 35% from last year’s $306 million take. Earnings are expected to grow to $28 million, or 82 cents per share, from $21.9 million, or 64 cents last year. But questions are starting to be raised about how long Bed Bath & Beyond can keep up its heady growth. Some smart investors have been selling the company’s high-flying shares, and these sellers include Feinstein and Eisenberg themselves. Rising interest rates have been slowing housing starts...
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...Introduction To Public Administration–MGT111 VU LESSON 01 INTRODUCTION 1. 2. 3. 4. 5. 6. 7. The course on Public Administration/Management has following objectives: Understand the concept of public administration/ management/organization Understand the evolution of the concept of public administration and its importance Understand the role of government Understand the role and core functions of public manager Understand the structure of government /organizations Create understanding about the skills required by the public manager in imparting duties Understand the changing role of government and role of public managers. Importance of Course: The course on public administration/management is important as every citizen must understand the functioning of government. Besides, whether one works in private or public organization, or one is doing ones own business or whatever the profession, this course is useful as it helps understand organizations and their functioning. It also helps us understand the environment in which we are working. Introduction: definitions, concepts & setting At the end of lecture the students should be able to understanding: • The meaning of PA • The practice of public administration (PA) • Public administration as a subject of study • Definition of Public administration • Public administration, democracy and rights of citizens The Meaning The word ‘administration’ has been derived from Latin words ‘ad’ = to and ‘ministiare’ = serve and ‘Public’ =people...
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