...CASE STUDY 8.1 PG 287 Disclosure of environmental liability By Lindene Patton C.I.H, Senior Vice President and Counsel, Zurich Around the world, companies are being required to meet higher levels of disclosure of environmental liability … in the United States, for example, the US Financial Accounting Standard Boards (FASB) issued provisions in 2002 for accounting for environmental liabilities on assets being retired from service. The provision for accounting for assets retirement obligations required companies to reserve environmental liabilities related to the eventual retirement of an assets if its fair market value could be reasonable estimated. The intent of the ruling was disclosure, but the conditional nature of estimating of fair market value caused corporations to take the position that they could defer their liability indefinitely by ‘mothballing’ a contaminated property. Companies effectively postponed the recognition of the environmental liabilities in the absence of pending or anticipated litigation. Earlier this year, FASB clarified its intention by providing an interpretation that said companies have a legal obligation to reserve for environmental and other liabilities associated with the eventual retirement of manufacturing facilities of parts of facilities, even when the timing or method of settlement in uncertain. Among examples given by FASB: * An asbestos-contaminated factory can not simply by ‘mothballd’ without adequate reserves to cover the eventual...
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...Subject Name: Quality & Operations Management Systems Subject Number: 49306 Subject Mode: Standard Assignment Number: 1 Date Submitted: 12 MAY 2014 Student Last Name: WU Student First Name: WENKUN Student ID: 11790401 1 Quality Management System (QMS) ISO 9001:200 The following tasks were completed using the example of NAB bank in Australia 1.1 Write a Quality Policy for the company in accordance with the ISO9001:2008 requirements National Australia Bank which is short for NAB is one of the four largest financial institutions in Australia NAB aims to: 1 built world class customers relationship around Australia to provide our customers with quality products and services, fair fees and charges 2 Give the best investment advice and guidance to customers to help them build up career and also help Asian active customers to achieve efficient investment. 3 deliver satisfactory and continuable financial returns to over 500,000 shareholders. 4 strengthen banking service for superannuation and the ageing people NAB will ensure the objectives mentioned above achieved by providing any required services and resources and do its best to achieve the action below: We will make our business more simple and digitized We will build up strong relationships between class customers around the world We will increase and strengthen the banking services for the superannuation and the population of older people. We will expand banking services...
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... GROUP MEMBERS DauTran Phi Quang: 24551139 Le ThuongHien: 21530459 AFF5280 - Institutional Asset & Liability Management GROUP ASSIGNMENT Table of Contents EXECUTIVE SUMMARY 3 INTRODUCTION 4 1. COMPANYANALYSIS 5 1.1 Company overview 5 1.2 Product & Services 5 2. INDUSTRY ANALYSIS 8 2.1 Industry overview 8 2.2 Competitors analysis 8 2.3 Current state of the economy 8 2.4 Porter’s five forces 13 2.5 SWOT Analysis 16 3. BUSINESS AND FINANCIAL RISKS ANALYSIS 16 3.1 Liquidity Risk 16 3.2 Capital risk 19 3.3 Strategic risk 22 3.4 Credit risk 23 3.5 Foreign exchange risk 25 3.6 Market risk 27 APPENDICES 29 REFERENCES 36 EXECUTIVE SUMMARY The main purpose of this report is to investigate Bendigo Bank’s business and financial risks for the sake of suggesting the most appropriate financially justified risk management strategy. The main content of the report is divided into four major parts including (1) Company analysis, (2) Industry and peer analysis, (3) Risk management analysis and (4) recommendation. The first section will critically provide a brief overview of the company background and detailed information about its core products and services consisting of personal banking, company banking and wealth management. Following section will discuss through macro-economic factors including the current state of the economy measured by relevant economic indicators. Then, the industry overview and the...
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...hand’ written by Jonathon Shapiro and published in an August 2011 edition of The Australian Financial Review, discusses how ANZ raised $750 million in hybrid capital (capital combination of debt and equity characteristics) in order to maintain its already strong capital position and balance sheet. ANZ has a Tier 1 capital ratio of 10.6% compared to Westpac, NAB and the Commonwealth Bank of Australia and will only improve with further equity issuance. The ANZ treasurer spoke of the company’s overall plan to stay ‘ahead of the game’, signalling to investors of his confidence in the company, along with a new common equity trigger clause. This clause states that if the company’s common-equity ratio falls below 5.125%, new convertible preference shares will be converted to ordinary shares. New stern regulations require bank hybrids to be more “equity-like” to absorb potential losses and provide greater capital buffers. ANZ’s hybrid issue comes amid volatile global market conditions which have caused Australian banks to refrain from raising wholesale debt. The demand for loans has fallen and debt has become less preferred due to risks of financial distress. Capital Structure & Hybrid Capital Trade-off’s Debt financing puts an obligation on a firm. A firm that fails to make the required interest or principle payments on the debt will enter into default. Financial distress may occur where many unwanted costs will be taken by the firm. This reduces the cash flows available to investors...
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...Introduc)on to financial management WEEK 1 Chapter 1 & 2 1 Expectations • A#end all classes with copies of slides. • Read the text book. • A#end all tutorials and par)cipate. • Complete the weekly quizzes and assignments. • If you are struggling • A#end consulta@on • A#end PAL. • Don’t leave it to the last week. 2 The objective of managers • Should be to maximise the wealth of the shareholders • A company also has other stakeholders that rely on it, for example: • Managers: salaries, bonuses • Employees: wages • Creditors: interest & principle • Suppliers: pay for goods/services • Government: tax The role of the =inancial manager • A firm generates cash flows by selling goods and services produced by its produc)ve assets and human capital • When the cash flows generated from the produc@ve asset exceed the cash ouQlows (such as opera@ng cash flows) the remaining cash is called residual cash flows • The company can choose to pay any profit to the owners as a cash dividend, or reinvest the cash in the business Cash =low diagram 5 The role of the =inancial manager It is all about cash flows: • A company is unprofitable when it fails to generate sufficient cash inflows to pay opera@ng expenses, creditors and taxes. • Firms that are unprofitable over @me will be forced into bankruptcy by their creditors. • In bankruptcy, the company will either be reorganised, or the company’s assets will be liquidated. ...
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...TAKING LEADERSHIP IN A DIGITAL ECONOMY BY TELSTRA CORPORATION LIMITED AND DELOITTE DIGITAL November 2012 deloittedigital.com.au telstra.com A NOTE FROM DAVID Consumers and businesses are rapidly embracing digital technology and this is redefining the traditional transaction model. We now have a new generation of globally connected consumers and businesses who behave very differently – and we must all adapt to these changes and take advantage of the new opportunities. By the end of the decade we will have connected just about every device to next generation networks, from smartphones and offices of the future, to educational resources and digital home appliances. The changes we are talking about are transformational. Everything, everyone and every place will be connected. This will make us more innovative and more competitive – and change the way we live and work for the better. The challenge ahead is how to best use the tremendous creativity, innovation and capability of Australians to participate in these new opportunities – whether it be m-commerce, Big Data, robotics or social media. Every part of our economy can benefit from this new era of connectivity. Our role, as Australian business leaders, is to help build a 21st century economy that is locally accessible and globally competitive. As a nation, we can lead the world and create positive change. David Thodey Chief Executive Officer Telstra 1 A NOTE FROM GIAM The world is changing. The internet has...
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...The attached assignment is NOT a model answer but rather an indication of how one syndicate group approached the problem set for that semester. It was one of the better papers but ……… Please note that the Executive Summary portion received a fail as it did not concentrate on what the group had recommended – the alternatives and why which one was chosen. They did, however, develop some alternatives, discussed them and then decided which one should be selected within the main body of the paper. It is also worth noting that for a 2008 assignment; almost all of the references were from that year. There are NO textbooks listed. AFF92 260: Aust ralian Cap pital Mark kets Semester 2‐ 2 S 2008 MZM C ON ULT ING M M NSU G MRCB gula y Ca al B Reg atory apita Fu ing Alte ative und erna es Authors: Version 1.0 Date e Issued: 25/09/ /2008 Word Count: 5,000 (no ot including ta ables) MZM CONSULTING Paul Masulan ns, Alex Zaikin ne, David McG Ghee Monash Unive M ersity Level 3 Building H 900 Dandenon ng Rd. PO Box x 197 Caulfield East, Victoria 3145 Australia 25 Septem mber 2008 Re: Regulatory Capita al Funding Alternatives CB Board, Dear MRC Please find the attach hed report on n regulatory capital funding alternatives. ument has b been prepare for the C ed Chairman and Directors ...
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...[pic] Australian School of Business School of Banking and Finance FINS 5516 International Corporate Finance Course Outline Session 1, 2010 1. Course Staff 3 1.1 Communication with Staff 3 2. Information about the course 3 2.1 Teaching Times and Locations 3 2.2 Units of Credit 3 2.3 Parallel Teaching in the Course 3 2.4 Relationship of This Course to Other Course Offerings 3 3. Course Aims and Learning Outcomes 3 3.1 Course Aims 3 3.2 Student Learning Outcomes 4 3.3 Approach to Learning and Teaching 5 3.4 Teaching Strategies 5 4. Continual Course evaluation and Improvement 5 5. Learning Assessment 5 5.1 Formal Requirements 5 5.2 Assessment Details 5 5.3 Assignment Format 6 5.4 Assignment Submission Procedure 6 5.5 Late Submission 6 5.6 Special Consideration and Supplementary Examinations 6 6. Academic Honesty and Plagiarism 7 7. Student responsibilities and conduct 7 7.1 Workload 8 7.2 Attendance 8 7.3 General Conduct and Behaviour 8 7.4 Keeping Informed 8 8. Student Resources 9 8.1 Course Resources 9 8.2 Other Resources, Support and Information 9 9. Course Schedule 12 1. Course Staff A/PROF. DONGHUI LI Office: ASB 342 Email: donghui@unsw.edu.au Tel: 9385 5873 1.1 Communication with Staff Consultation Hours: Friday 9:00 –11:00 Outside these times, meetings are by prior appointment only. E-mail the staff in question and arrange a mutually convenient time. Teaching staff will only respond to...
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...GOVERNANCE. PAPER CODE: MBD 107. SEMESTAR: 1ST SUBMITTED BY SOUMYA KANTI BOSE ENROLLMENT NO: DDE/MBA/JUL2013/14. REGISTRATION NO: APPLIED FOR. SESSION: JULY 2013 - JUNE 2015. INDEX PARTICULARS | PAGE NO | Introduction | 03 | Objectives of Study | 03 | World Scenario in Corporate Governance | 03 | Indian Scenario in Corporate Governance | 03-04 | Corporate Governance Practices By State Bank of India, India | 04-05 | Corporate Governance Practices By Axis Bank Ltd, India | 05-13 | Corporate Governance Practices by National Australia Bank, NAB | 13-18 | Corporate Governance By HSBC, London | 19-23 | Conclusion | 23 | Reference | 23 | Introduction: The issue of corporate governance has come up mainly in the wake up economic reforms characterized by liberalization and deregulation. Corporate governance has at its backbone a set of transparent relationships between an institution’s management its board, shareholders and other stakeholders. Corporate governance has come up mainly in the wake up of economic reforms characterized by liberalization and deregulation. According to OECD, the corporate governance structure specifies the distribution of rights and responsibilities among different participants in the corporation, such as, the board, managers, shareholders and other stakeholders and it also spells out the rules and procedures for making decisions on corporate affairs. Corporate governance is exclusively of board of directors in a manner that it...
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...Review Essay In Canada recession was less severe and they face no banking failure due to the size and diversification in their large institution has maintained their stability. New Entrant was limited by Canadian government and I exchange chartered bank with provide them financial stability, in Canada focuses on banking sector that’s why brokers dealers and security market remain much at smaller .The banking system of branch was oliogiopolisty that imply the system which has limited supply of banking services and cost as compared to their competitors . In our previous work (Bordo et al., 1994) we analyzed that the Canadian banking is not categorized in higher cost as compared to US. The banking of Canada same returns on equity and largely used MMMFSs After 1987 they became a vital part of Canada banking, at that time government had given them permission to create MMMFs and half of total MMMFs are kept at bank which means that they are within the banking system. According to (Byung kyong & Niamh Sheridan,2012) Canada’s three large bank weighted average is two an half time smaller than Australia’s four major banks however non performing rate of housing loans in Australia and Canada are almost same in recent years. The mortgages in Canada are provided by Canada mortgage and Housing Corporation own by Government are assigned at weight of zero risk, therefore the lowest risk of residential mortgages of four large Canadian banking is almost 70% in comparison with 40% of major...
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...award from their union if you're a member or from Fair Work Australia. 2. What is workers’ compensation and who is covered by it? Workers compensation is insurance policy will be covered under WorkCover Queensland to protect all employees from injury, illness or disease. The compensation can be monetary and non-monetary compensation such as medical care that related to the injury. The objective of this insurance are to Provide medical treatment and income security to injured workers, Ensure employers meet the costs associated with injuries and disease arising at workplaces under their control and Ensure earliest possible return to work. The payment of worker compensation is depended on the size, risk, and claims history. Also depend on the industry risk, industries with higher risk pay higher rates. Each state and territory has its own workers compensation legislation. Employees will be paid whether or not the employer was...
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...millennium preparing for a systems crisis, in the form of the Y2K computer scare, which on 1 January 2000 passed without event. But towards the end of the decade, the financial sector was faced with, arguably, its most serious systemic crisis ever, which the Australian financial system and economy weathered relatively well compared with advanced nations in the northern hemisphere.1 While the GFC occupied only one-quarter of the past decade (from mid 2007), it prompts the questions which this review must seek to answer. Was there something about the structure and evolution of the Australian financial system which explained its resilience in the face of the crisis; and was that resilience due to lower risk-taking by the banking sector in the lead up to the crisis? Did the distribution of risk within the financial system facilitate adjustment to the shocks encountered? What role can be attributed to government and regulatory responses following the onset of the crisis? In order to place the developments of the 2000s in context, this paper is...
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...triggered a sequence of events which led to prosecution, public opprobrium and international damage to an iconic brand. The purpose of this paper is to explore the case and identify lessons for future management practice. Design/methodology/approach – Some of the fundamental principles of issue management, post-crisis discourse and corporate apologia are to recognize the problem early, to promptly institute a strategic response plan and corrective action and, if necessary, to apologise genuinely and without delay. The paper assesses the case against the theoretical basis of each of these principles and comparable cases. A senior executive of the company concerned was interviewed about some management aspects. Findings – Despite early indications of a problem which had potential impact around the world, a major global corporation responded inadequately to a local situation and, as a result, suffered prolonged embarrassment at the hands of two teenagers and unnecessarily severe damage to its brand and international reputation. Originality/value – By in-depth analysis of a recent case, the paper underlines valuable lessons in terms of prompt management intervention, consistent strategy and effective apologia. It also illustrates the danger of poor management of a brand extension and the risk of contagion facing multinational organizations where adverse outcomes in one small regional market can rapidly damage a global reputation. Keywords Brand image, Corporate image,...
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...FACTORS AFFECTING SMALL SCALE VEGETABLE FARMERS ACCESS TO CREDITS AT ETUNDA IRRIGATION PROJECT IN NORTHERN NAMIBIA. SELMA N. INGULA 26 OCTOBER 2012 Factors affecting small scale vegetable farmers access to credits at Etunda irrigation project in Northern Namibia. BY: Selma N. Ingula Project report submitted to the University of Namibia, Faculty of Agriculture and Natural Resources, Department of Agricultural Economics in partial fulfilment of the requirements for the Diploma in Agriculture. Project Assessment Board | | | | | | |Supervisor (s): | | |MR. B. THOMAS & | | |MS. B. MUDAMBURI | | [pic] UNIVERSITY OF NAMIBIA, DEPARTMENT OF AGRICULTURAL ECONOMICS AND EXTENSION, UNAM OGONGO CAMPUS Receipt Confirmation Signatures |Chairperson:……………………… | | | ...
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...MIS 12th Edition Video Matrix ONLINE EDITION Student Instructions: 1. Go to www.azimuth-interactive.com/MIS12. 2. Enter your school .edu email address. You must have a .edu mail account. 3. Press Submit. 4. Check your email for an activation link. 5. Click on the activation link. 6. Click on the video you want to view. Chapter Videos |Part One: Organizations, | | |Management and the Networked | | |Enterprise | | |Chapter 1: Information Systems in|(1) UPS Global Operations with the DIAD IV | |Global Business Today | | | |How IT drives the UPS operation worldwide. Using smart people and smart technology, UPS delivers over 14 million | | |packages daily to 200 countries and territories, requiring the talents of 70,000 drivers who are wirelessly connected| | |to UPS main databases located...
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