... Merger Introduction There are certain organizations around the world which get engaged in the activities regarding merger. The health care organizations also get engaged in merger with other health care organizations. In the present paper, discussion shall be made regarding merger in health care organizations. There are certain financial drivers which are required to be considered by the health care organizations to move forward with merger. The financial planning and the success of the merger are to be taken into consideration by considering the financial statements of the organization after the merger has been carried out by the organizations. Financial Drivers Causing Merger There are three financial drivers which cause mergers within the health care organizations. The first financial driver causing merger is healthy corporate balance sheets. The second financial driver is low interest rates and inexpensive refinancing opportunities. The third financial driver is marginal growth of the organization (Buckley & Ghauri, 2002). All these financial drivers work in a positive manner for promoting mergers within the organization. In relation to merger, the organizations look at the potential health corporate balance sheets. In relation to the potential healthy balance sheets, the organizations look to get merged with another organization which has huge numbers in the balance sheet so that, the size of the balance sheet after merger could grow...
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...Islamic Financial Planning: More than just managing wealth By Sani Hamid When it comes to Islamic banking and finance, many are familiar with terms such as riba, sukuk and takaful. Somewhat more obscure is the concept of Islamic financial planning which has not had much publicity. Even for those who may have heard of it, Islamic financial planning serves merely as a mirror image of the conventional model of financial planning albeit using syariah-compliant instruments. In reality, the concept of Islamic financial planning extends beyond the mere use of such syariah-compliant products. One could go as far as saying that a Muslim’s wealth could still be managed in a manner consistent with the syariah even without the use of syariah-compliant instruments (for example, where such are not available). However the converse is not necessarily true. Many times, Muslims believe that merely by using syariah-compliant products they have indeed managed their wealth in a manner consistent with what is expected of them as Muslims, when in fact, it is the application of Islamic principles in the managing of one’s wealth which is the foundation of Islamic financial planning. Financial Planning, as defined conventionally, is “a process which helps individuals set and achieve their long-term financial goals, through the proper management of your finances.” Financial planning normally covers the areas of investments, tax planning, asset allocation, risk management, retirement planning, and estate...
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...transactions and events, measuring the transactions and events in terms of money, recording them in a systematic manner in the books of accounts, classifying or grouping them and finally summarizing the transactions in a manner useful to the users of accounting information . Let’s now discuss these accounting processes one by one: 1. Identifying the transactions and events: This is the first step of accounting process. It identifies the transactions of financial character that is required to be recorded In the books of accounts. Transactions is transfer of money or goods or services from one person or account to another person or account. 2. Measuring: This denotes expressing the values of business transactions and events in terms of money 3. Recording: It deals with recording of identifiable and measurable transaction and events in a systematic manner in the books of original entry that are in accordance with principles of accountancy. 4. Classifying: It deals with periodic grouping of transactions of similar nature that appear in the books of original entry into appropriate heads by posting or transfer entries 5. Summarizing: It deals with summarizing or condensing transactions in a manner useful to the users. This function involves the preparation of financial statements such as income statement, balance sheet, statement of changes in financial position and cash flow statement 6. Analyzing: It deals with the establishment of relationship between the various...
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...Economic planning is a mechanism for economic coordination contrasted with the market mechanism. There are various types of planning procedures and ways of conducting economic planning. As a coordinating mechanism for socialism and an alternative to the market, planning is defined as a direct allocation of resources and is contrasted with the indirect allocation of the market. The level of centralization in decision-making in planning depends on the specific type of planning mechanism employed. As such, one can distinguish between centralized planning and decentralized planning. An economy primarily based on central planning is referred to as a planned economy. In a centrally planned economy the allocation of resources is determined by a comprehensive plan of production which specifies output requirements. Planning may also take the form of directive planning or indicative planning. A distinction can be made between physical planning (as in pure socialism) and financial planning (as practiced by governments and private firms in capitalism). Physical planning involves economic planning and coordination conducted in terms of disaggregated physical units; whereas financial planning involves plans formulated in terms of financial units. Different forms of economic planning have been featured in various models of socialism. These range from decentralized-planning systems, which are based on collective-decision making and disaggregated information, to centralized systems of planning...
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...Strategic and Financial Planning University of Phoenix FIN / 370 September 9, 2009 Strategic and Financial Planning Every organization should have both a strategic plan and a financial plan. Although these two seem have two different purposes, they are both needed in order for the company to survive. Strategic planning is the process of determining a company’s long-term goals and then identifying the best approach for achieving those goals (Investor Words, 2009). Financial planning is the long-term process of wisely managing finances so you can achieve the goals while at the same time negotiating the financial barriers that inevitably arise in every stage of the company’s goals (FPA, 2009). Upon examining the relationship between strategic and financial planning, we will see how Quizno’s, Family Focus Lawndale and the LaSalle Network each utilize strategic and financial planning. Quizno’s Strategic Planning Initiative Quizno’s is a gourmet sub shop that sells different kinds of oven-toasted sandwiches. At Quizno’s, the store managers are always coming u with new plans and ideas to bring in new customers. Each store has a different type of promotion that is specifically targeted for the store location to drive in new business. The store managers have weekly meeting with the storeowner to talk about ways to increase productivity and reduce waste. The store managers also have monthly meeting with the store employees to see that everyone stays on...
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...Financial Planning Lacardo Scott Grantham University Financial Planning Financial planning is defined as planning or the future of your company to make sure you have positve cash income in upcoming years. Financial planning is very important when it comes to planning a business because if not done properly, your business is sure to fail. Financial planning is a process to help you make smart decisions about money that you business makes so your company can reach its goals. Smart financial planning determines the course of action the company will take, the tasks that need to be accomplished, as well as who is responsible for completing the tasks in the proper time and manner. The success of any business is based on financial planning. Financial planning includes three categories: Strategic role of financial management, objectives of financial management and the planning cycle. When thinking of a financial plan, the company should come up with what is called a planning horizon, which is the time period of the plan. A business’s main goal while financial planning is to make sure they have accurate cash management. By correctly guessing how much cash they are going to bring in and have available, leaves room for the company to invest and receive a higher return on their investments. Accurate cash management also allows a company to foresee any type of cash shortage that could likely come about anytime during the year. When a company is able to make these types...
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...will be ineffective without the preparation and use of budgets”. What is budgeting? Budgeting is the continuous cycle of planning and evaluation used by a company in order to achieve the stated goals and objectives of the organization. The process of allocating a finite amount of resources to the prioritized needs of the organization and a tool we use to control spending decisions. An entrepreneur needs to plan for his business’ future and he/she must plan for the future. Budgets usually show a clear representation of how the business wishes to spend their funds in the future. Many businesses create budgets on an annual basis in order to carefully outline the expected requirements of various departments in the company. With the annual budget process it also reduces the amount of time businesses spend for the creation and management of capital. While larger companies accountants or other professionals have employed to create a business budget, small business owners are usually responsible for the implementation of this feature alone. “A budget is just a method of worrying before you spend money, as well as afterward." (NA, 2013) The role of budgeting in the management of a company is very effective when it is related to the fundamentals of management. The many existing definitions of the operations usually expressed in terms of the five main functions: planning, organizing, staffing, management and control. Management must plan first. Organizing, the staff and management operations...
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...FINANCIAL MANAGEMENT OF COURTS BUDGET Programme Director, Tererai Mafukidze Members of the South African Judges Commission, Members of the Venice Commission Various Professionals and members here present, Distinguished Guests, Registrars from various parts of the world, Ladies and Gentlemen Protocol observed. I am humbled to address this auspicious gathering of the South African Judges Commission and Venice Commissions Registrar’s workshop held in our most beautiful land, South Africa. Allow me, therefore, to extend a warm word of welcome to all newly appointed Registrars and also pay recognition to those of you who have been a pillar of strength at your various organizations ensuring enhanced administrative support and capacitating the Judiciary that you serve. You are indeed a critical foundation on which the future of judicial effectiveness lies. Ladies and Gentlemen: I have been requested to talk about Financial Management, Management of Courts Budgets and its Challenges. I am sure you will agree with me that anyone requested to talk about this topic, can do so for the whole day or two or even a week. I am saying so precisely because financial Management, Management of Courts Budget and its Challenges are extensive and to sum this up in 30 minutes is in itself a challenge. INTRODUCTION It is said that if managers expect their subordinates to adopt any of their wishes or characteristics, such as frugal qualities in the workplace, managers themselves must...
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...Reporting financial data reports is important and information must be accurate and factual. Organizations obtain and maintain financial data to aid in the audits of the amounts, control, and potential uncertainties of cash flows. Keeping the financial data current is important because majority of the time the data contains information about the organization’s equity and economic resources. Developing and analyzing ethical standards carefully allows organizations to stay in compliance with those standards formed for the health care community. Poor ethics and financial planning sometimes effects consumers. According to Nelson (2011), “Basic ethics principles that make up our common morality, including respect for patients, acting in patients’ best interest, avoid bringing harm to patients and treating patients in a fair and equitable manner, serve as the foundation for healthcare values.” This paper will contain a summary of the four elements associated with financial management, generally accepted accounting principles, and general financial ethical standards. The reader will explore Examples from two articles “Ethical Decision making for healthcare Executives” and “Ethics: A foundation for quality” that reflect ethical standards of conduct, financial reporting practices, and the significance of each example. Four elements of financial Management The four elements of financial management are planning, controlling, organizing/directing, and decision making. Planning is the methodical...
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...FINANCIAL MANAGEMENT OF COURTS BUDGET Programme Director, Tererai Mafukidze Members of the South African Judges Commission, Members of the Venice Commission Various Professionals and members here present, Distinguished Guests, Registrars from various parts of the world, Ladies and Gentlemen Protocol observed. I am humbled to address this auspicious gathering of the South African Judges Commission and Venice Commissions Registrar’s workshop held in our most beautiful land, South Africa. Allow me, therefore, to extend a warm word of welcome to all newly appointed Registrars and also pay recognition to those of you who have been a pillar of strength at your various organizations ensuring enhanced administrative support and capacitating the Judiciary that you serve. You are indeed a critical foundation on which the future of judicial effectiveness lies. Ladies and Gentlemen: I have been requested to talk about Financial Management, Management of Courts Budgets and its Challenges. I am sure you will agree with me that anyone requested to talk about this topic, can do so for the whole day or two or even a week. I am saying so precisely because financial Management, Management of Courts Budget and its Challenges are extensive and to sum this up in 30 minutes is in itself a challenge. INTRODUCTION It is said that if managers expect their subordinates to adopt any of their wishes or characteristics, such as frugal qualities in the workplace, managers themselves must...
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...Basic Financial Statements Jane Antonovsky Colorado Technical University Online Instructor: Dr. Tracie C. Edmond ACCT614-1301A-02: Applied Managerial Accounting January 14, 2013 Abstract The Board of Directors and executive management team of Sparklin Automotive Company (SAC) need to make informed and accurate decisions regarding the management of the enterprise, therefore it is up to the corporate business financial analyst to provide the financial information essential to that decision-making process. In this memo, we will review the basic financial statements that must be submitted to the Board of Directors and executives, as well as what each statement contains. Furthermore, we will evaluate how the information contained within these statements will be useful for the management as far as helping them in the enterprise management. As in most processes, there is maximum and minimum that can be achieved, therefore we will review specific limitations of the information provided within these statements. In addition, management team must be aware of the possible information limitations, as well as how they can make sure that they receive whole picture of the enterprise. * Some work repurposed from ACC350-1101B-01, Instructor: Johnnie Bannier, 2/17/2011 Basic Financial Statements This memo will address the basic financial statements that must be submitted to the Board of Directors and executives of SAC, as well as what each statement does and contains within...
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...to operate profitably it needs to implement and execute its core management concepts and strategies effectively in a manner gives it a competitive advantage in the market place. McDonald has been one of the highly growing profitable fast food retailers globally. With operations in 119 countries and more than 33,000 restaurants worldwide with 80% of these franchised, the management needs to perform its management functions effectively in order to sustain the growth and profitability and to stimulate further growth in the company (McDonald's Corporation, 2012). This paper analyzes the functions of management that’s being usedby the McDonald's leadership to turn make the company profitable. Functions of management at McDonalds: There are mainly four functions of management that makes a company able to translate strategy into profitability and enhances a more cohesive organization which helps in fulfilling a company's operating objectives. These are planning, organizing, leading and control (Robbins and Coulter, 2001). Planning: Planning is a function of management which helps in determining exactly where the organization is presently and the course of action that needs to be undertaken in order to take it where it wants to be in the future and how the company's goals and objectives can be attained (Robbins and Coulter, 2001). In this sense therefore planning involves curving out a course of action to be taken based on the available and prospective resources, capabilities and...
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...MANPOWER PLANNING Manpower planning is the process by which every organization anticipates future staffing needs, manpower utilization & also the plan programs to have sufficient supply of adequately developed, skilled & motivated people to perform the tasks required to meet organizational goals & also to satisfy the individual needs & goals. Objectives of the search 1. Understand the need & purpose of Manpower planning in the organization 2. Understand the benefits of Manpower planning 3. Process of manpower planning 4. Challenges in Manpower planning 5. Manpower planning process in different industries – Manufacturing sector, IT sector ,Small industry, Big industry Manpower is the total knowledge, skills, creative abilities, talents & aptitudes of an organization workforce, as well as the values, attitudes & the benefits of the individual involved in the organization growth. Planning is the method of forecasting of the organization objectives, goals setting & following of the different procedures to achieve the objectives & organization goals by utilizing the resources. Out of all the resources man is the most important & manpower is the only resource, which appreciates with usage & time. Since, manpower planning is very important in every organization. Manpower planning is concerned with the flow of people into, through, and out of organization. It also will ensure the right mix of skills, employees in the organization...
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...exist to cater to the various needs of society, and to accomplish their charitable mission. The service and product offered are not for achieving profits, but to benefit society in a noticeable manner. However, in order for nonprofit organizations to maintain efficiency and meet their goals; it is essential for them to operate to their full capacity by implementing good financial management systems and procedures. Financial management plays a significant role in the overall management of a nonprofit organization. Implementing appropriate financial management systems and practices contribute to a successful business and provides...
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...controllers and financial officers to establish internal controls. The internal control system ensures that financial statements are reliable and are compliant with financial regulations; risks are reduced, and short and long time goals are identified and met. Internal controls are systematic measures (such as reviews, checks and balances, methods and procedures) instituted by an organization to (1) conduct its business in an orderly and efficient manner, (2) safeguard its assets and resources, (3) deter and detect errors, fraud, and theft, (4) ensure accuracy and completeness of its accounting data, (5) produce reliable and timely financial and management information, and (6) ensure adherence to its policies and plans (Business dictionary.com). Internal control systems are improved ways of controlling organizations with minimize risk, loss reduction, and also to achieve goals. Justifying the need for the internal control system can be done by using the insurance and political approaches. Asset allocation, security valuation, performance, and optimization are considered with the approaches. Companies acquire insurance because it allows them to transfer risks that affect the assets, property and employees. Insurance can provide businesses relief when issues arise un-expectantly such as injuries, natural disasters, and fraud. Insurance mitigates a company's risks, but it cannot protect against losses. The portfolio approach is "A grouping of financial assets such as...
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