...GED Community Center | Mismanagement of a Fiscal Cycle | How To Manage Necessary Budget Cuts to Efficiently Run A Community Center | | Reginald Lee | 10/10/2012 | This is the detailed account of the mismanagement of GED community center and how to complete renovations to the operations of the center due to the advent of budget cuts needed to complete the management of staff on the incoming workload of an annual fiscal cycle. | Managerial accounting entails developing the structure of a business project from the aspect of designing how productivity occurs within the timeframe of the project upgrades. For instance, you are the senior level management supervisor of maintenance department. You are to devise a strategy to cut the cost of production from the beginning of a project’s completion and implementation into the first stages of production so that they increase revenue for the upcoming fiscal cycle. You have to consider the pros and cons of letting go employees to manage funds needed to complete the increase in the levels of productivity that spearhead the increase in total revenue for this to come to fruition. The information about last year’s fiscal cycle will prove vital in the effort to complete this. On the other hand, cost accounting is a smaller bit to that equation. For instance, in cost accounting this job will be given to the lower management for the purpose of finding the fiscal information of the last three years in an effort to determine how many...
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...1. Understand the relationship between strategic management and leadership 1.1 Air India comes directly under the Ministry of Civil Aviation, Government of India. The Board of directors and CMD have to work under the guidance of bureaucrats and politicians. What in your opinion have been the influence and effect of such a leadership and the strategic management and decisions taken on Air India over a period of time? (Criteria 1.1 Explain the link between strategic management and leadership) Next page 1.1.1 The Initial Surge • The airline made a net profit of US$2 million and increased revenue by 15% in the 2005 financial year. This success initially showed how Air India was flourishing in the earlier years under the Indian Government. • They were following the Trait Theory and the leaders are characterized with some specific activities. 1.1.2 The Influence • To ensure its business and technical staff could maintain and use the system, the company sent 40 employees to Oracle University. They were more employee oriented leaders, but when gradually, the Ministry of Civil Aviation had to work under the guidance of bureaucrats and politicians, they became more product oriented leaders the amount of losses were huge. • With this drastic change we could sum it up as follows With reference to Behavioral Theory, within the managerial grid , we can observe a shift from A to C With reference...
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...The financial decisions the students make in universities can significantly affect their financial situation during and after university. These decisions can also affect other aspects of their lives, including their academic performance, health status and future employment Chen and Volpe (1998, 2002). Unlike the previous generations, the youths today are growing up in a culture of debt facilitated by expensive lifestyles and easy credit (Dugas, 2001). The youths being a major consumer market, emerging trends and fashions are some of the reasons the youths have fallen prey of financial mismanagement. A good number of the 21st generation is under influence of expensive purchase as an indicator of conformity to a particular social group or class....
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...Case Study: New Hire Mismanagement Timothy Keegan COMM/215 April 12, 2013 Anthony DeVeto Case Study: New Hire Mismanagement Introduction When accepting the position of a Campus Recruiter for ABC, Inc., there were specific tasks and expectations that go along with the job title. The specific tasks were explained however, due to the improper planning and poor execution, the individual failed to deliver what was outlined in the job title. This paper will explain the failures due to improper planning, lack of experience and poor time management skills. Furthermore, areas that will be outlined from this case study will include various detailed causes as well as; different solutions to strengthen the recruiting department and prevent any further weaknesses. Background In early April, Carl Robins, was new to the human resources department of ABC, Inc. “The Corporate Human Resources Recruiter will play a critical role in ensuring we are hiring the best possible talent” (Nourse, 2013). Mr. Robbins had taken on the needed task of hiring 15 individuals, which would work for the Operations Supervisor, Monica Carrolls. This recruiting position is responsible for selecting proper candidates, collecting proper identification and various paperwork such as; a resume, application, transcripts and payroll processing information. A background check, drug screen and a new hire physical must also be performed prior to anyone starting. In addition to the proper processing of the...
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...Fiscal mismanagement caused Argentina’s 2001 crisis Summary: It is believed that the fiscal mismanagement which came from 1) fiscal indiscipline. 2) loose fiscal policy, caused Argentina’s 2001 crisis. Each of these two parts covered the problems of the country’s tax system, fiscal policy, currency policy and government management. The following contents will give more details. Fiscal indiscipline contributed to the crisis Fiscal indiscipline at provincial level lead to a heavier burden on central government In the early 1990s, percentage-based revenue-sharing between the national government and the provinces was replaced with a rigid system of minimum revenue guarantees. But provincial authorities used these guarantees as collateral that enabled them to run up significant private-sector debts for which the central government was ultimately responsible. (case P6) Corruption scandal leaved the government discredited. * A corruption scandal erupted when it was discovered that bribes had been paid to senators in exchange for support of the government’s initiative to bring flexibility to the labor market. (case P3) * In November 2011, Argentina attempted to execute another debt swap, guaranteed by fiscal revenue, but not well received. Instead, capital flight escalated and country risk climbed to 1,700 basis points (Exhibits 8&9 interest rate and bond spread data). Argentina’s loose fiscal...
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...Government Mismanagement Sparks the Consumption of Unhealthy Food A 2008 documentary film, Food Inc., has struck a great number of people with its shocking truths about the food industry, as well as government policies related to food production. According to available statistics and media coverage on the food industry, government policies have facilitated the consumption of unhealthy foods by subsidizing corn production, ignoring the price gap between fast food and healthy foods, and practicing leniency towards large food corporations. The U.S. government has been heavily subsidizing the production of corn for decades, encouraging farmers to overproduce corn and allowing them to sell it at extremely low prices. Even cattle, which have been bred to eat grass, have now shifted to corn, since it is cheaper and more efficient in fattening the cows. However, research indicates that feeding corn to cattle results in a high occurrence of E. coli in the digestive system of the cattle, contaminating the beef produced from it (Callaway et al. 3: 852-860). USDA’s subsidies for corn have not only led to health problems related to meat, but also contributed to American’s high-caloric diet. Because of the low price of corn, many food companies use corns to produce artificial sweeteners and partially hydrogenated oils that should be avoided in a healthy diet. An author of Chicago Tribune comments on the USDA, “What it urges people to eat to remain healthy does not match what it pays farmers...
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...BRANDEIS UNIVERSITY International Business School Case Write-Up The Fiscal Mismanagement and Fixed Exchange rate were the cause of Argentina 2001 Crisis Summary: Argentina’s economy verge to a state of collapse in the year of 2001, but the economy started to struggle with an economic recession in 1997. The fiscal mismanagement paired with the fixed exchange rate policy conducted the country to a financial crisis. IMF policies in lending to a country with struggling economy made people think if IMF was the responsible for the default crisis that affected Argentina in 2001. Public Deficit – The Major “devil” As economic reforms were happening in Argentina, the country started to face large capital inflows, as it was able to borrow large capital amounts at lower interest rates because of the currency pegging, in the global market. However the government fiscal policies failed to maintain surpluses during economic growth period and actually even during this period the government budget deficits were large. Fiscal mismanagement can be considered as the main reason for the economic crisis, which includes: * Weak fiscal policy – the fiscal policy should have been adjusted during times of economic rapid growth in order to achieve fiscal surpluses and give a cushion in government accounts against future downturns. Lax in tax collection and high budget expenditures led the government budget to deficits which combined with the economic recessions led to long-run...
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...Iraq is the fourth leading oil producer in the world. It Produces 4,452,000 barrels per day. Iraq’s oil has been overall a curse for Iraq. This is true because of wars caused by War over oil, mismanagement and neglect caused by oil, climate change that ravaged the country, and erratic prices of oil which curtal’s development. I believe the claim that mismanagement being a human problem not an oil problem, to be silly. Like the Iraqi invasion of kuwait. In this war, Iraqis claimed that kuwait was pumping out their oil via slanted pipeline and invaded kuwait. The United states led a coalition formed against iraq to stop this invasion. Coalition Forces retook kuwait from the Iraqis who were committing war crimes against the local population and burning oil pumps as they retreated. US airstrikes were very devastating to Iraqi infrastructures. Many trucks and supplies were lost on the highway of death, which was a highway where many Iraqis retreated on. The Air Force attacked the highway causing many Iraqis to desert their trucks. The Army wanted to cripple their country in every way including their economy. This would make the country more susceptible...
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...The independence of AC members and external auditors and policies to raise the concern of any misconduct of employees are to be reviewed by the AC mentioned in the Code help reduces the chances corporate abuse in the company. Also, the disclosure of AC activities also reduces the chances fraud and mismanagement occurring. ComfortDelGro’s Practices 1. The Audit and Risk Committee (“ARC”) consist of 4 NEDs that are independent. 2. The ARC members have current and related financial management expertise. 3. ComfortDelGro discloses their whistle-blowing policy in their annual report. (Refer to Appendix 3.1.2) 4. The roles of the ARC are as disclosed. (Refer to Appendix 3.1.3) 5. The ARC reviews the independence of external auditors by ensuring the partner in-charge changes every 5 years. ComfortDelGro complies with the Code as shown by their practices above. Improvements There are no improvements to be made for ComfortDelGro’s Code of Governance as some regulations stated are more stringent than those in the Code such as members of the ARC are...
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...Running Head: MISMANAGEMENT AT BP Mismanagement at BP Name: Course: Tutor: University: City/State: Date: Mismanagement at BP In 2010, an explosion off the Gulf of Mexico occasioned the worst oil spill in the history of the US. The well that exploded was jointly owned by BP, Moex and Haliburton with BP owning 65% while the rest owning 10% and 25% respectively. The resulting effect was the death of 11 people, the injury of 17 and spilling between 3 and 4 million barrels of crude oil into the ocean. A commission set by the US president to investigate the cause of the massive spill found that management failures were at the core (Werdigier, 2010). This was further compounded by the lack of sufficient government oversight into the drilling of offshore oil wells. Furthermore, the commissions report argued that the failures were systemic and that without requisite measures, the events were likely to recur. The disaster however was not solely BP’s undoing but was as a result of multiple organizations’ failures. The pollution disaster was especially bad for the environment. These events led to the close evaluation of BP’s management which had sold itself as being driven by environmental safety only to be undone by this disaster and come off as a company more driven by the desire to cut costs (Chazan, Faucon & Casselman, 2010). An analysis of the events leading up to the disaster shows that BP had other major industrial...
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...Bijon Islam (Roll: 21) Faruk Ahmed (Roll: 20) EMBA 14th Batch IBA, Dhaka January 04, 2012 January 04, 2012 Ms. Homayara L. Ahmed Assistant Professor Institute of Business Administration University of Dhaka Sub: Term Paper Submission- The Idea of Ethics and the Eurozone Crisis Dear Madam: Thank you for giving us the opportunity for working on such an exciting topic. Looking at the Eurozone crisis from an ethical perspective reveals several insightful and interesting insights including a look into the idea of equality among the member states, financial camouflage practices and the focus on immediate gains both in private sector and at national level. We have tried to map out such factors that have contributed to ethics mismanagement among the euro member states which have finally culminated into the crisis. We hope that you enjoy reading this paper as much as we did writing this and look forward to your views. Please feel free to contact us anytime if you feel the need for any additional support that we may provide. Kind Regards Bijon Islam – Roll 21 (EMBA 14) Faruk Ahmed – Roll 20 (EMBA 14) pg. 1 CONTENTS EXECUTIVE SUMMARY ...................................................................................................................................................3 1. A. B. C. D. E. 2. A. B. 3. A. B. C. D. E. F. 4. 5. 6. THE STORY......................................................................................................................
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...NAME: MWORIA KENNETH MUTUMA UNIT: BCM 206 LECTURER: MR. NYAKERI ASSIGNMENT: CAUSES OF MISMANAGEMENT OF THE ECONOMY CAUSED BY THE GOVERNMENT. DUE: 14TH FEB 2011 Introduction Government plays a major role in the economy; government policies on the tax rates , and allowances ,levels and types of expenditure ,interest rates and credit availability ,public service provision ,pension installment and on many other issues have a major impact on the economy. So, with all this key roles its not unusual that mismanagement occurs courtesy of the government .and in a mixed economy like Kenya the government becomes the anarchist in all matters business. In Kenya the most outspoken mismanagement is seen in the embezzlement of public fund, so In this report we shall go further than just the obvious mistakes and craftiness of governments in general. How the government mismanages the economy. The government has policies in place that ensure easy control of the economy and sanity in the otherwise busy world of business. Although most of these measures are put in place to help the administrators to serve the people more effectively it end up doing the opposite. The most common of this is fiscal policy 1. Weak fiscal policy This is the name given to the government policies which seek to influence government revenue. Change in the fiscal policy influences the equilibrium level of the national income, which has great implications on output, employment...
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...Memo To: Ms. Boyce, Chief Executive Officer From: Student, Personnel Management Consultant Subject: Karen Carlin Case Study: Issue Analysis and Proposed Solutions Date: 21 October 2010 INTRODUCTION The purpose of this memo is to analyze and propose solutions for the issues Karen Carlin faces as she takes on the supervisor role for the schedule typist department of Hepplewhite & Boyce. The three issues to be analyzed are (1) lack of productivity, (2) insubordination and abuse of company resources, and (3) staff mismanagement. First, the problems will be defined and probable causes discussed. Then, recommendations will be made to resolve these issues. DEFINITION OF PROBLEMS AND PROBABLE CAUSES The problems identified in this memo are ones Hepplewhite & Boyce can easily resolve with a few simple actions. Doing so will not only be good for the company but will be good for the employees as well. The end goals should be as follows: (1)Increased productivity within the schedule typist department. (2)An end to the insubordination and abuse of company resources. (3)Improved management of the schedule typist staff. The issues within the department will be explained in further detail next. Lack of productivity The first issue within the schedule typist department of Hepplewhite & Boyce is a lack of productivity on the part of two of the employees, Pat and Pauline. In order to do the least amount of work possible, Pat and Pauline are purposely not updating...
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...Philippine public fiscal administration has always been characterized by continuous, expanding, and increasing levels of debt and budget deficits. It has also been beset with problems of mismanagement, conflicting and wrong priorities, and even graft and corruption. Though it heavily relies on outside sources for its revenues, many times it had no protection from external and even from internal shocks including natural calamities and man-made disasters. With this backdrop, write an essay on why or how studying and learning Philippine Public Fiscal Administration is necessary in the practice of Good Governance. In your essay, take into consideration the particular experiences of Philippine Public Finance from the time of the Spaniards upto present. Philippine public fiscal administration has always been characterized by continuous, expanding, and increasing levels of debt and budget deficits. It has also been beset with problems of mismanagement, conflicting and wrong priorities, and even graft and corruption. Though it heavily relies on outside sources for its revenues, many times it had no protection from external and even from internal shocks including natural calamities and man-made disasters. With this backdrop, write an essay on why or how studying and learning Philippine Public Fiscal Administration is necessary in the practice of Good Governance. In your essay, take into consideration the particular experiences of Philippine Public Finance from the time of the Spaniards...
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...The Fiscal Mismanagement and Fixed Exchange rate were the cause of Argentina 2001 Crisis Summary: Argentina’s economy verge to a state of collapse in the year of 2001, but the economy started to struggle with an economic recession in 1997. The fiscal mismanagement paired with the fixed exchange rate policy conducted the country to a financial crisis. IMF policies in lending to a country with struggling economy made people think if IMF was the responsible for the default crisis that affected Argentina in 2001. Public Deficit – The Major “devil” As economic reforms were happening in Argentina, the country started to face large capital inflows, as it was able to borrow large capital amounts at lower interest rates because of the currency pegging, in the global market. However the government fiscal policies failed to maintain surpluses during economic growth period and actually even during this period the government budget deficits were large. Fiscal mismanagement can be considered as the main reason for the economic crisis, which includes: * Weak fiscal policy – the fiscal policy should have been adjusted during times of economic rapid growth in order to achieve fiscal surpluses and give a cushion in government accounts against future downturns. Lax in tax collection and high budget expenditures led the government budget to deficits which combined with the economic recessions led to long-run budget constrains because the deficit was unsustainable. * Structural Reforms...
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