...chapter 2 1) Assets = Liability + Shareholders’ equity Shareholders’ equity = Assets – Liabilities = ( 5,100 + 23,800 ) – ( 4,300 + 7,400 ) = 17,200 Net working capital = Current assets – Current liabilities = 5,100 – 4,300 = 800 2) Net sales 586,000 COGS 247,000 Depreciation 43,000 Earnings before interest and taxes 296,000 Interest paid 32,000 Taxable Income 264,000 Taxes ( 35% ) 92,400 Net income 171,600 3) Net income 171,600 Dividends 73,000 Addition to retained earnings 98,600 8) Net sales 27,500 COGS 13,280 Depreciation 2,300 Earnings before interest and taxes 11,920 Interest paid 1,105 Taxable Income 10,815 Taxes ( 35% ) 3,785 Net income 7,030 Earnings before interest and taxes 11,920 + Depreciation 2,300 * Taxes 3,785 Operating cash flow 10,435 9) Ending net fixed assets 4,200,000 * Beginning net fixed assets 3,400,000 + Depreciation 385,000 Net capital spending 1,185,000 10) Net working capital 2010 = Current assets – Current liabilities = 2,100 – 1,380 = 720 Net working capital 2011 = Current assets – Current liabilities = 2,250 – 1,710 = 540 Ending NWC 540 * Beginning NWC 720 Change in NWC (180) 11) Net new borrowing = 2,900,000 – 2,600,000 =...
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...------------------------------------------------- In Management accounting or managerial accounting, managers use the provisions of accounting information in order to better inform themselves before they decide matters within their organizations, which allows them to better manage and perform control functions ------------------------------------------------- Definition[edit] IFAC Definition of enterprise financial management embracing three broad areas: cost accounting; performance evaluation and analysis; planning and decision support. Managerial accounting is associated with higher value, more predictive information.[1] Copyright July 2009, International Federation of Accountants One simple definition of management accounting is the provision of financial and non-financial decision-making information to managers.[2] According to the Institute of Management Accountants (IMA): "Management accounting is a profession that involves partnering in management decision making, devising planning and performance management systems,and providing expertise in financial reporting and control to assist management in the formulation and implementation of an organization's strategy".[3] ------------------------------------------------- Scope, practice, and application[edit] The American Institute of Certified Public Accountants (AICPA) states that management accounting as practice extends to the following three areas: * Strategic management—advancing the role of the management...
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...A Service Level Agreement for Provision of Specified IT Services Between Finman Account Management, LLC, Datanal, Inc., and Minertek, Inc. 1. Period of Service The service level agreement (SLA) is for a period of three years, commencing on July 1, 2011, and concluding on June 30, 2014, with provision for renewal and extension upon agreement of all parties and contingent upon satisfactory fulfillment of specified services, as determined by semiannual review. 2. Parties to the Agreement Finman Account Management, LLC, employs more than 9,000 professional staff in 70 offices located in 20 countries and realizes gross income of nearly $4 billion annually. Finman provides a range of business management services and takes particular pride in staying abreast of information technologies, trends, and applications—particularly those that help control costs, eliminate overlap, and enhance efficiency and productivity. With more than 50 years experience in business management, Finman has gained a broad and deep understanding of their own and their customers’ resources, needs, and growth potential, particularly in the present rapidly evolving and expanding IT environment. After meticulous review, Finman has determined that with the assistance of the above-named firms, Finman will be positioned to significantly improve and expand its services to its existing customers and compete more effectively nationally and internationally. Datanal, Inc., was established by five IT entrepreneur...
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...A Service Level Agreement for Provision of Specified IT Services Between Finman Account Management, LLC, Datanal, Inc., and Minertek, Inc. 1. Period of Service The service level agreement (SLA) is for a period of three years, commencing on July 1, 2011, and concluding on June 30, 2014, with provision for renewal and extension upon agreement of all parties and contingent upon satisfactory fulfillment of specified services, as determined by semiannual review. 2. Parties to the Agreement Finman Account Management, LLC, employs more than 9,000 professional staff in 70 offices located in 20 countries and realizes gross income of nearly $4 billion annually. Finman provides a range of business management services and takes particular pride in staying abreast of information technologies, trends, and applications—particularly those that help control costs, eliminate overlap, and enhance efficiency and productivity. With more than 50 years experience in business management, Finman has gained a broad and deep understanding of their own and their customers’ resources, needs, and growth potential, particularly in the present rapidly evolving and expanding IT environment. After meticulous review, Finman has determined that with the assistance of the above-named firms, Finman will be positioned to significantly improve and expand its services to its existing customers and compete more effectively nationally and internationally. Datanal, Inc., was established by five IT entrepreneur...
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...TFT2 Task 2 Thomas Garner Student ID: 336227 Information Security Modification Recommendations Service Level Agreement Between Finman Account Management, LLC, Datanal Inc., and Minertek, Inc. After careful review of the current Service Level Agreement(SLA) “A Service Level Agreement for Provvision of Specified IT Services Between Finman Account Management, LLC, Datanal, Inc., and Minertek, Inc.” we have determined that standard Information Technology security measures have not been addressed fully. Following are the recommended changes highlighted in the specific sections that need to be addressed. These changes are being recommended to protect Finman’s data and intellectual property. Established standards such as Best Management Practices(BMP), International Organization of Standards(ISO) and the Information Technology Infrastructure Library(ITIL) for the proper handling, storage and protection of IT resources are used as guidelines for these recommendations. Recommended Changes to SLA: Section 3 Background and Rationale Modifications: Finman views this SLA as a groundbreaking venture to harness the diverse array of IT-borne customer demands and opportunities that cannot be met by adhering to traditional paradigms. Finman’s objectives in the SLA are to compete more effectively in a highly competitive industry by offering its customers a unified IT management plan across an entire organization or even, if the customer wishes, across separate departments...
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...Service Level Agreement for Provision of Specified IT Services Between Finman Account Management, LLC, Datanal, Inc., and Minertek, Inc. 1. Period of Service The service level agreement (SLA) is for a period of three years, commencing on July 1, 2011, and concluding on June 30, 2014, with provision for renewal and extension and/or changing of features or functionality upon agreement of all parties and contingent upon satisfactory fulfillment of specified services, as determined by semiannual review. In addition, Finman may change, discontinue or add Service Level Agreements from time to time. 2. Parties to the Agreement Finman Account Management, LLC, employs more than 9,000 professional staff in 70 offices located in 20 countries and realizes gross income of nearly $4 billion annually. Finman provides a range of business management services and takes particular pride in staying abreast of information technologies, trends, and applications—particularly those that help control costs, eliminate overlap, and enhance efficiency and productivity. With more than 50 years experience in business management, Finman has gained a broad and deep understanding of their own and their customers’ resources, needs, and growth potential, particularly in the present rapidly evolving and expanding IT environment. After meticulous review, Finman has determined that with the assistance of the above-named firms, Finman will be positioned to significantly improve and expand its services...
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...because of business and security requirements (ISO, 2005 p. 60). Further, access to IP by DTK/MTK users is restricted in accordance to access control policy (11.6.1 p. 73). With this in mind, enforcement of an access control policy (ACP) ensures that only authorized DTK/MTK personnel access information to preserve its confidentiality, availability, and integrity. In closing, the Finman SLA should address access control measures to protect IP from illegal sharing; unauthorized use; retention without permission; and unapproved destruction. First, Finman will ensure the following processes are in place before the start of the project to limit use of IP. To begin with, all DTK/MTK computer operating systems is controlled by a secure log-on. Additionally, authentication methods, such as username and password, will exist for all personnel working on the project. Furthermore, remote access authentication will limit use of IP. In closing, these standards will hinder unauthorized access to corporate IP....
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...basis. Initial SLA Clause 4, Statement of Intent The original statement of intent makes claims about leading research and knowledgeable consulting firms without listing any references. These claims need an identifiable source to be included in the finalized statement of intent. The claims suggest that utilizing the smaller firm’s specialized products is the best approach to improve Finman’s business. Basing the entire SLA upon these statements is incredibly risky if these statements cannot be sourced and assessed as factual. Finman’s corporate resources may be placed under threat of lose or destruction if these sources are not verified and the entire notion of working with Datanal and Minertek should not move forward until this happens. Finman states, in the initial SLA, that service level management (SLM) “…offers the most promising strategy for the firm…” without detailing the methodology or listing reference material. This methodology of SLM may be part of the metric clause (7). This statement needs inclusion in the final documentation if that is the case. If service level management will not be measured within the metric section of the scope of work then a reference needs to be installed about the source of that material. Initial SLA Clause 5, Scope of Work Effort Recommendations to the scope of work effort are at a minimum. Most of this section is clearly stated. However, adding a subsection to this clause may be necessary to...
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...Effects of Health Care Legislation Presentation The University of Phoenix Misty Oglesby HCS/578: Ethical, Legal, and Regulatory Issues in Health Care Instructor: Qiana Amos November 7, 2011 Effects of Health Care Legislation Presentation How has it or will it affect health care? The purpose of managed care is for administration to have access, control, and quality over health care services within a particular population of enrollees that are covered (University of Washington, 1998). The method of managed care involves a group of skills which persuades the clinical behavior of patients and or providers, done by bringing together the delivery and payment of health care. By using managed care, healthcare administrators are able to develop ways to effectively run healthcare systems by allocating money for departments that are in dire need of funds. Also by implementing measurements that monitor employees work habits, such as how often a nurse should check on patients, how many times a day medications are given, how often bedding is changed, updating charts, and etc. Changing the quality of care, based on customer service, the collaboration of other staff employees, and improved work ethics among staff all has and will continue to affect healthcare. Managed care organizations and doctors use managed care contracts to create the broadest applications possible within the healthcare industry (AMA, 2005). Physician networks, professional corporations, group practices, and...
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...Modification and Justification of SLA Finman Acount Management, LLC, Datanal, Inc., and Minertek, Inc. Recommendations Background and Rationale The physical protection of Finman’s data will need to be protected by proper configuration and setup of data network infrastructure. Both thirds parties will need to ensure ACL systems are set and configured to ensure access and data flow is running properly. There is to be granted access to only privilege user’s assigned and agreed upon. Authentication and authorization is to be set in place to ensure protection with Finman’s data resources along with network resources. Authentication and authorization can be applied by enforcing Group Polices. Each third party will need to have proper verification set in place otherwise known as Third Party Verification (TPV). TPV will provide both parties to meet industry standards such as Federal Communication Commission and Federal Trade Commission. Backup solutions for data storage will need to be set in place to ensure integrity of Finman’s data and meets industry standards. Statement of Intent Auditing, encryption and threat management will need to be set in place to ensure no misuse of Finman’s resources are allowed. IT Security Management guidelines will need to be followed to ensure customers are educated and no misuse or abuse to Finman’s IT services or resources are allowed. Finman’s Intellectual property such as patents, copyrights, and trademarks are to be protected by identifying...
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...Recommendation for information security Modification The review of the Service Level Agreement in the network “shows that better measures for Information technology have not been addressed, rather some added recommendation have been listed which provide the better protection to Finn man data and intellectual property. Thus various mechanisms for protecting the data have been suggested lik ITIL, Best management practices A.. Recommended changes for protecting Fin man’s data and Intellectual property. According to Finman more demands and opportunities of the information technology customers can not avail because of the some old tradition of SLA in the modern age. So the entire organization can compete the highly competitive industry by using the more sophisticated unified IT management techniques when it offers to its potential customer the best protecting techniques. Minertek made the latest software and named it as Datanal which was based on data-mining that has assembled the various desperate operations and various other programs and procedures which were located on the separate location which help the customer to eliminate the duplication a d also to help them to achieve the better economies of scales and open the new businesses the various location. For consolidation of Datanal software, the organization will need them to establish the Access control list and crate the new user policies which will be providing the authorization to authenticate the network process...
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...Sample Essay for termpaper Presented Problem After examining the incident, there are some key things that stick out as major risks, these include: • Accounts existed before EHR system was deployed. • Accounts were undocumented. • Non Authorized remote users had access to the EHR application. • Undocumented account was created/added to a new system. • Method or Vulnerability to gain privilege escalation outside of change control policy. This led me to propose three policies, each address some of these key issues from separate fronts. The three policies include a Remote Access Policy, Application Deployment, and a Routine Maintenance policy. The Remote Access policy aims to correct the issue that non-authorized users were able to access the EHR system. HIPAA has included provision in the Security Rule that allows for remote access, but with certain limitations. I have included provision that restricts remote access based on Job Role and Job Necessity(ISO 27002:2005, 7.1.1), and restricted to assets that are owned by the hospital which have enhanced security (ISO 27002:2005, 7.1.1) (NIST, 164.312(a)(1))(ISO 27002:2005, 11.4.2). The Application Deployment policy aims to close security loop holes that appear to have been open for months before the EHR system was even deployed. There were no check on accounts when importing, and no alerts when permissions were escalated. Some of the key standards that I see as aiding in creating this policy is better change management...
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...HCS/577 – Financial Management in Health Care Financial Data Analysis Introduction To have a full understanding we need to know what an operating budget is and it can be defined as the upcoming statement of profit and loss for the different divisions and units of a company as well as the company as whole for the upcoming year. To identify the variances as well as to monitor things this operating budget is normally divided into what is usually called quarters. For a health care company these budgets are prepared for the following year and is normally discussed for some kind of approval by the upper management teams. When the year is at an end the management team that is in charge of certain areas are then asked to provide an account of the performances from the previous year. Effective financial management practices in creating and monitoring an operating budget When it comes to creating and monitoring a budget, the use of financial management should not be overemphasized. To start off, the budget construction form should be able to identify all of the relevant data that is involved. The operating budget can be best utilized as a profit and loss statement projection and to prepare the estimates of expenses and future revenues. To make it easier to monitor Finkler (2006) states that an operating budget should be presented together with...
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...Finman Letter B. Example of stock saving and loan association In Philippines, there are several savings and loans associations. The Metropolitan Bank and Trust Company, and the Bank of the Philippine Islands (BPI) are two. Minnesota Federal Savings and Loan merged with First Federal Savings and Loan in the mid-80's to form First Minnesota Savings Bank... The New Bank! Norwest Banks absorbed First Minnesota in 1989 or 1990 and has since gone on to become Wells Fargo. I worked in Minnesota Federal's data center and rode out all of the afore mentioned mergers/acquisitions. Letter J Open domestic letter of credit * A written commitment to pay, by a buyer's or importer's bank (called the issuing bank) to the seller's or exporter's bank (called the accepting bank, negotiating bank, or paying bank). A letter of credit guarantees payment of a specified sum in a specified currency, provided the seller meets precisely-defined conditions and submits the prescribed documents within a fixed timeframe. These documents almost always include a clean bill of lading or air waybill, commercial invoice, and certificate of origin. To establish a letter of credit in favor of the seller or exporter (called the beneficiary) the buyer (called the applicant or account party) either pays the specified sum (plus service charges) up front to the issuing bank, or negotiates credit. Letters of credit are formal trade instruments and are used usually where the seller is unwilling to extend credit to the...
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...TALPLACIDO, Diana Dee G. 02-19-2014 FINMAN 5B 1:30-2:30 MWF D522 “TESTS AND RESULTS IN EFFICIENT MARKET HYPOTHESIS” a.) Weak Form EMH -Tests of “Statistical memory” in security prices and returns Statistical tests of independence between rates of return: * Autocorrelation tests- it is mostly support the weak-form EMH and indicates that price changes are random and some studies using more securities and more complicated tests cast some doubt. *Runs tests – it indicates randomness in prices -Tests of Trading rules Comparison of trading rules to a buy-and-hold policy * Some filter rules seem yield above-average profits with small filters, but only before taking into account the substantial transactions costs involved * Trading rule results have been mixed, and most have not been able to beat a buy-and-hold policy Problems with tests: *Cannot be definitive since trading rules can be complex and there are too many to test them all *Testing constraints- it use only publicly available data, it should include all transactions costs and it should adjust the results for risk (an apparently successful strategy may just be a very risky strategy). Results generally support the weak-form EMH, but results are not unanimous- it shows that some strategies too subjective to test and not all trading rules are disclosed. b.) Semi Strong Form EMH ...
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