...Shivani Bajpai: (to All) hi Nishant Boorla: (to All) no i'm not Nishant Boorla: (to All) yo yo yo Nishant Boorla: (to All) Everest is overrated....I prefer climbing stairs to Black Cup niket varma: (to All) shall we start Apoorve Sinha: (to All) waiting for doc Nishant Boorla: (to All) don't give him inhaler Nishant Boorla: (to All) oh sorry i Nishant Boorlaant this as a personal Nishant Boorlassage to the doctor Nishant Boorla: (to All) so....awkward niket varma: (to All) you guys are slowing Nishant Boorla down! Nishant Boorla: (to All) Fire the doctor man! Nishant Boorla: (to All) If anyone dies let Nishant Boorla know Nishant Boorla: (to All) That photo will have an emotional connect Nishant Boorla: (to All) I'll win my photography award....one of my objectives Nishant Boorla: (to All) #Everest #Climb #unqualifieddoctor Nishant Boorla: (to All) #uselessleader Nishant Boorla: (to All) #YOLO Nishant Boorla: (to All) Team please respect everyone's opinion Nishant Boorla: (to All) #Sanskaar Nishant Boorla: (to All) Let's play Dumb Charades Nishant Boorla: (to All) Knock knock Nishant Boorla: (to All) who's there Nishant Boorla: (to All) mountain Nishant Boorla: (to All) mountain who? Nishant Boorla: (to All) Mountain Dew Nishant Boorla: (to All) Knock knock Nishant Boorla: (to All) Who's there Nishant Boorla: (to All) Everest Nishant Boorla: (to All) Everest who? Nishant Boorla: (to All) Everest for now, trek later Nishant Boorla: (to All) *Makes...
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...Students Need Financial Literacy Our economy is a system that produces and consumes goods or services and we, as a society, should carefully manage those resources to the best of our ability. This is where being financially literate becomes valuable because it guides the planning, budgeting, and accounting of all resources. It also provides stability with saving, spending, and debt management. Financial lessons can be useful in other aspects of life, such as, knowing how to prioritize deadlines and making sure to utilize time effectively. These lessons could also assist in saving a relationship or help differentiate between right and wrong, and that is why students need financial literacy. Each state throughout the country has their own policies for integrating financial literacy into their curriculum. However, some states are more superior to others with regards to teaching this topic. Jump$tart Coalition, a non-profit organization interested in advancing financial literacy among students, shows a map of only five states that “Requires at least a one-semester course devoted to personal finance” (Jump$tart). Most schools offer economics, advanced math, accounting, or current events as electives. Yet, many schools disregard financial literacy and it should be considered a requirement because students need to understand the basics of money. They need to understand how it works, the consequences of misuse, and the accomplishment of succeeding. A lot of students have...
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...groups include: • Investors / shareholders • Employees • Lenders • Suppliers • Customers • Government • Public What then are the needs of these groups and how would they use the published statements? Investor Group This group would comprise both existing and potential shareholders. They would consider whether to invest or disinvest in the business. Equity investors consider two elements to their investment, income and gain. Income in the form of dividends and gain in the share price. If the investor takes a short-term view then current dividends are of interest. Whereas a longer-term view would concern future earnings. A guide to the future can to some extent be seen in company reports with the chairman’s statement, although based on current performance, company forward strategy is often included. The investor group would also be interested in profitability and its trend over a period of time. Employees It is encouraging to note that some companies produce a separate employees report. Employees and their representatives require information on business performance for two principal reasons: • wage and salary negotiation • assessment of current and forward opportunity in terms of employment They would be interested in both the current financial stability and the longer-term financial viability of the business. They need information in a clear, simple and understandable form. I have seen some employee reports which include a value added approach rather than...
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...Bsc/Admin/12/13/047 Course; Financial Accounting Users of financial information and their informational needs. Users of accounting information are either internal or external to the organization. These users need information to help them make informed or reliable decisions or judgements with regards to the organization. Different groups have different demands for the financial information contained in a set of accounts. Information needs of internal users These include; * Management; This category is made up of the senior employees who run the organization on a day- to- day basis. They are interested in information such as, Finance of the organization (working capital) The growth prospects (value of shares and dividends) * Employees ; This is the group of workers in the organization made up of existing potential and past employees. The members of this group are concerned with job security and future prospects. Therefore, they need information to assess the company’s profitability, liquidity and growth prospects. Employees need information about The financial state of the organization ( for their salaries) The growth and stability of the organization ( new investments ) to ensure continuity of employment. Profitability. Others are informational needs of external users including * Customers; Those who buy from the organization either for cash or on credit are interested in; The profitability The growth and stability ( new product lines) Customers will also need information or...
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...to Ely (2008), “financial regulation is a form of supervision, which subjects financial institutions to certain requirements, restrictions and guidelines, aiming to maintain the integrity of the financial system. The regulatory body may be handled by either a government or non-government organization”. The Jamaican financial landscape consists of various financial institutions. These include banks, security brokers, pension schemes and insurance companies. The main objectives of the financial regulator are usually: • Market confidence – to maintain confidence in the financial system • Financial stability – contributing to the protection and enhancement of stability of the financial system • Consumers’ protection – securing the appropriate degree of protection for consumers. • Reduction of financial crime – reducing the extent to which it is possible for a regulated business to be used for a purpose connected with financial crime. With the objectives being outlined, the Bank of Jamaica is the Central Bank of Jamaica that carries out the government’s financial regulation and supervision pertaining to all banks’ operations. The Bank of Jamaica, established by the Bank of Jamaica Law (1960), began operations in May 1961. The establishment of the Central Bank was in recognition of the need for an appropriately regulated financial structure to encourage the economy’s development process after independence. Although the Bank of Jamaica carries out the financial regulation of the...
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...Out and About plc Capital is the funds that are invested into a business to be used for the growth and expansion of a business. In the case of Out and About plc, they are going to use this capital in order to fund its marketing budget. Out and About have a current ratio of 0.87:1 and an acid test ratio to one. This suggests that they are suffering from very severe liquidity problems especially short term liquidity. As they have £800 million worth of non-current assets, it would be useful for them to sell off some of these assets because it will increase the amount of cash they have, thus also increasing their current assets figure. Also, they could then use this cash to also reduce its current liabilities figure by paying off some its trade payables; this then will cause both their current ratio and acid test ratio to increase. Trade debtors are worth £70 million out of the £140 million of current assets. This means that they make up 50% of the total current assets. The trade receivables take 87 days to pay the business back; this suggests that they are to very quick in terms of repayment. This will cause further problems for Out and About plc because it could mean that they may not receive payments from its debtors causing them to write these debts off as 'bad debts'. If these bad debts start to build up, this can cause a business's expenses to increase and the value of the receivables asset to decrease. One major concern for Out and About plc is its profit margins...
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...necessary employability skills which a financial manager at Siemens would definitely need to have is good verbal communication skills in order to effectively express their ideas and views to other employees above and below them. Financial managers need to be able to work well in teams and other employees in order to come to a good outcome without any arguing, they need to be able to take charge of the team and manage the team well. They need to have an understanding of commercial awareness, such as its customers, competitors, suppliers and a general understating of the business, this is very important because as a financial manager at such a big business they need to know who they are working for in terms of how people think of the business etc. A key employability skill a financial manager at Siemens needs a good drive, they need to have the determination to get things done affectively and in the correct manner. Especially the businesses financially side as they need to constantly look for better ways of improving the business area they are involved in. A financial manager needs to be able to have good time management skills , as they are a financial manager of a very big company its important that they ensure that they carry out the necessary tasks on time without fail, if this doesn’t happen it can result in a lack of responsibility and a negative example on other employees. The main employability skill which such a manager needs is to have a personal impact and...
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...what areas are in need of improvement. Once the internal review is complete, additional planning involves identifying the results the organization wants to achieve and establishing the next steps necessary to reach the intended goals. These goals or factors can range from: finances, public relations, policy development, personnel recruitment or overall strategic planning in light of student performance. This strategic plan will focus on the financial aspects of an organizations plan. Establishing and implementing effective financial policies are fundamental in an educational organizations success. One essential component of a strategic plan is the establishment of financial policies and procedures. Financial policies are the rules that govern the financial decisions making process of an organization. Educational organizations adopt these policies and follow them to guide them when making financial decisions. Upon adoption of the organizations financial policies, the organizations financial decisions making process is simplified, because the institutions governing body has already developed the financial policies needed to make important decisions. Many times financial policies result from "past experiences." These experiences can range from the financial climate change within the organization to financial change within the state. Also factors such as funding from federal, state, local, and private parties can drastically impact the establishment of financial policy for organization...
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...Chapter 1 The Canadian Financial Reporting Environment Prepared by: Dragan Stojanovic, CA Rotman School of Management, University of Toronto The Canadian Financial Reporting Environment Role of Financial Reporting • Financial statements and financial reporting • Accounting and capital allocation •Stakeholders Objective of Financial Reporting •Management bias •Users’ needs Standard Setting • Need to develop standards • Parties involved in standard setting • Standard setting in a political environment GAAP • GAAP hierarchy •Professional judgement • Role of ethics Challenges Facing Financial Reporting • Globalization of companies and capital markets • Impact of technology • Changing nature of the economy • Increased requirement for accountability 2 The Canadian Financial Reporting Environment Role of Financial Reporting • Financial statements and financial reporting • Accounting and capital allocation •Stakeholders Objective of Financial Reporting •Management bias •Users’ needs Standard Setting • Need to develop standards • Parties involved in standard setting • Standard setting in a political environment GAAP • GAAP hierarchy •Professional judgement • Role of ethics Challenges Facing Financial Reporting • Globalization of companies and capital markets • Impact of technology • Changing nature of the economy • Increased requirement for accountability 3 Characteristics of Accounting 1. Identification, measurement, and communication of financial information about; 2...
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...Personal Financial Planning “Personal financial planning is only applicable to those nearing retirement”. How true is this statement? For instance, personal financial planning is only suitable for those who are nearing retirement and not for other age groups of people. We do not really agree with that statement. Because people in different lifecycle are indeed requiring different kind of needs and wants in their life, thus, financial planning is important for everyone who wishes to achieve their financial goals. In addition, when there are existence of needs and wants in our life, everything would cost us money because money is the medium of exchange in this era. Due to this matter, meeting the rising cost of living and improving the standard of living would be a problem when we do not plan our financial side carefully. Everyone wants to have a luxury life, good car, delicious meal and many mores but without a proper planning, it is impossible for anyone to achieve these goals. Therefore, a personal financial planning is vital especially for those who started to join the work force and also those who are retiring. What is personal financial planning mean to you? Personal financial planning can be defined as a systematic process that considers important elements of an individual's financial affairs in order to fulfill the financial goals. Basically it also includes the well preparation of the cash flow movements, priority allocations on the needs and wants, and many more. ...
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...Business Plan Financial forecasts Agenda of the second part of the course Financial forecasts – importance and structure Pro forma income statement Profitability analysis and Break-Even Point analysis Pro forma balance sheet and financial need assessment 1 Business Plan Financial feasibility Pro forma balance sheet and financial need assessment: • Pro forma balance sheet • Financial needs assessment • Sources of funds 2 Pro forma balance sheet - Structure RECLASSIFIED BALANCE SHEET 1) CONVERTIBILITY INTO CASH / MATURITY DATE Assets Liabilities and shareholders’ equity time required to be converted into cash 2) BY AREA OF BUSINESS ACTIVITIES By area of business activities held to maturity 3 Pro forma balance sheet- 1) Cash / Maturity ASSETS High CURRENT ASSETS LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES Short term * Cash and marketable securities * Bank overdraft * Accounts receivables * Accounts payable * Inventory * Income tax payable NON CURRENT LIABILITIES * Long term financial debt FIXED ASSETS * Investments in affiliates STOCKHOLDERS' EQUITY * Property plant and equipment * Common stock * Intangible assets Low * Staff Severance Pay fund * Retained earnings TOTAL ASSETS * Net Income TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY Long term 4 Pro forma Balance Sheet- 2) Area of business activities INVESTED CAPITAL DEBT...
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...Appendix B Personal Financial Planning Worksheet Directions: Based on your readings and discussions in class this week, answer the following questions completely. 1. The process of creating a detailed plan to meet your financial needs and prepare for the future is called: a. Developing goals. b. Personal financial planning. c. Collecting financial information. d. Personal finance. 2. Which of the following is not one of the five major steps of the financial planning process? a. Analyze your current finances. b. Establish and implement your plan. c. Collect and organize your financial information. d. Reevaluate and revise your plan as needed. 3. Which phase in life is commonly associated with focus on marriage, family, purchasing a home, and career development? a. Teenage years b. Between your 50s and 60s c. Late 20s through your 40s d. During retirement 4. Which of the following are some benefits of having a college degree that can affect your financial planning? a. The potential to make a higher salary b. Jobs with retirement plans and benefits c. The ability to receive promotions and wage increases d. All of the above 5. Which of the follows elements of a comprehensive financial plan discuss analyzing future needs, such as saving for retirement or college funding for dependants? a. Building wealth b. Securing basic needs c. Establishing...
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...Explain the main reasons why financial markets and financial intermediaries exist. Why are banks special? A bank is a financial intermediary that offers loans and deposits, and payment services. In the past decade the banks have become a very important part of the economy. Banks are financial intermediaries, financial intermediaries and financial markets main role is to provide a system by which funds are transferred and allocated to their most productive opportunities. Banks need money and they get the money from people who invest in the bank and people who save their money in the bank, but the money does not stay in the bank it has to be allocated to people or companies with deficit funds (borrowers). In doing so they increase the economic efficiency by promoting a better distribution of resources. How can the transfer of wealth from surplus units to deficit units occur? There are two ways that the transfer of wealth can happen its either direct finance or indirect finance. Direct finance is the transfer of funds from surplus units to deficit units via financial markets. Indirect finance on the other hand has a different procedure as the transfer of funds does not occur directly from lender to borrowers as the financial intermediaries step in. Why is there a need for financial markets and why do they exist? Financial Market exists in order to facilitate the relations between providers of capital such as savers and investors and users of capital such as companies and...
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...Brief introduction of financial accounting This essay will just briefly make an introduction to financial accounting by answering four questions. Firstly the paper will discuss the objective of financial accounting, and then will make explanation on relevant information. Also the users of financial accounting will be mentioned in the third part, then after the reason why financial market needs accounting reports, we will get to the conclusion. What is the major objective of financial accounting? “Financial accounting may be defined as the process of designing and operating an information system for collecting, measuring and recording an enterprise’s transactions, and summarizing and communicating the results of these transactions to users to facilitate making financial economic decisions”(Andrew Thomas, 2005) The first part of this explanation involves in collecting and recording business transactions. And it is specifically called the double entry bookkeeping. One of the objectives is to record and control as well as classifies those financial transactions, and normally, this process is done by a computer in modern society. Secondly the objective is about preparing and summarizing relevant information to financial statements income statements trail balances and many other financial statements. These statements can be significantly helpful for the information users. (Andrew Thomas 2005) According to Andrew Thomas (2005) the above two function can be further separate into...
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...in Preparing Financial Plan in Investment firm” BACKGROUND Introduction It is vitally important for the investment firm to set up a financial plan in order not to experience hardships and financial difficulties in the future of their beneficiaries. Financial plan assure financial stability and financial freedom that an investors wants to possess till the end of his/her life. The process of preparing financial plan is a routine process that indeed involves not only careful financial analysis of the investors’ current situation and long-term commitment to implement and monitor that plan throughout his/her life, but also requires careful thinking for the future. In order to properly achieve the financial planning goals, one has to monitor the performance of the financial plan as well as make proper changes when necessary. While preparing the financial plan, the pre need industries should be taken it seriously. This is because a bad financial plan will lead to over capitalization or under capitalization as well as misappropriation of funds. In endeavor action, businesses are sometimes right and make correct decisions and sometimes they are wrong and prone to errors. These firms are prone to errors, because they do not have a correct perspective of the environment or lack a correct assessment of the current situation in the environment. Hence immense care must be taken in order to avoid the collapse of the business. The pre‐need industry: an...
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