...FINANCE AND FINANCIAL MARKETS 3,6 Types of financial intermediaries Financial institutions are like most other businesses in that they exist to make a profit and this is maximized by minimizing their costs and maximizing their revenue. Like most firms they can only survive if they design and sell products and services that can meet demand at a reasonable profit level. We now proceed to look at some of the key types of financial institutions that are involved in the process of financial intermediation; that is, the transfer of funds between surplus and deficit agents. We distinguish between deposit-accepting institutions, such as banks and savings institutions, and other types of financial intermediaries, such as insurance companies, mutual funds/unit trusts, pension funds, hedge funds and private equity and the like. 3.7 deposit institution an institution such as a bank or savings institution that accepts cash deposits Deposit institutions Deposit institutions accept deposits from economic agents. These funds become their liabilities which they then on-lend to make direct loans or investments, which become their assets. Deposit-taking institutions aim to make a profit in the way of 'spread income' between the cost of the deposits that they accept and other sources of funding, and the return that they receive on their investment portfolio in the way of loans, equity stakes and other investments. Examples of deposit institutions include commercial banks,...
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...CHAPTER ONE 1.0 INTRODUCTION 1.1 BACKGROUND OF STUDY Breaking away from the shackles of ‘colonialism’ (British control) the oil rich Nigeria got her independence in 1960. Having being plagued by political instability, the negative impact of a prolonged military rule, corruption, unemployment, inadequate infrastructure and poor macroeconomic management for a long period of time, the nation currently undertakes certain reforms under a new reform minded administration. Prior to the present democratic rule, Nigeria's former military rulers failed to diversify the economy away from its overdependence on the capital-intensive oil sector, which provides 20% of GDP, 95% of foreign exchange earnings, and about 80% of budgetary revenues. The largely subsistence agricultural sector has failed to keep up with rapid population growth - Nigeria is Africa's most populous country - and the country, once a large net exporter of food, now must import food. Following the signing of an IMF stand-by agreement in August 2000, Nigeria received a debt-restructuring deal from the Paris Club and a $1 billion credit from the IMF, both contingent on economic reforms. Nigeria pulled out of its IMF program in April 2002, after failing to meet spending and exchange rate targets, making it ineligible for additional debt forgiveness from the Paris Club. In 2003, the government began deregulating fuel prices, announced the privatization of the country's four oil refineries, and instituted the National Economic...
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...THE ACCOUNTING REVIEW Vol. 88, No. 2 2013 pp. 463–498 American Accounting Association DOI: 10.2308/accr-50318 Managerial Ability and Earnings Quality Peter R. Demerjian Emory University Baruch Lev New York University Melissa F. Lewis University of Utah Sarah E. McVay University of Washington ABSTRACT: We examine the relation between managerial ability and earnings quality. We find that earnings quality is positively associated with managerial ability. Specifically, more able managers are associated with fewer subsequent restatements, higher earnings and accruals persistence, lower errors in the bad debt provision, and higher quality accrual estimations. The results are consistent with the premise that managers can and do impact the quality of the judgments and estimates used to form earnings. Keywords: managerial ability; managerial efficiency; earnings quality; accruals quality. Data Availability: Data are publicly available from the sources identified in the text. I. INTRODUCTION W e examine the relation between managerial ability and earnings quality. We anticipate that superior managers are more knowledgeable of their business, leading to better judgments and estimates and, thus, higher quality earnings.1 Alternatively, the benefit We thank two anonymous reviewers, Asher Curtis, Patty Dechow, Ilia Dichev, Weili Ge, Marlene Plumlee, Phil Shane, Terry Shevlin, Wayne Thomas (editor), Ben Whipple, and workshop participants at the 2010 Kapnick Accounting Conference...
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...the period 1976-2001). Moreover, we try to estimate if there is any connection between the flare activity and the strength of solar cycles. For that purpose, we studied not only the number of flares occurring monthly and annually, but we also used two indices that estimate the energy emitted by flares registered in the optical Hα line, as well as in the soft X -ray 1-8 Å band. The strange behaviour of SC 22 descending phase, with short but intense increments in flare activity, having a high degree of N-S asymmetry, could be the cause of the "abnormal" appearance of SC 23. The new magnetic dipole begins to lose part of its energy even during the descending phase of SC 22, so that the activity of SC 23 proves to be below the predicted values. Key words: Sun − solar flares – solar activity cycles − N-S asymmetry. INTRODUCTION Solar flares are wonderfully complex phenomena, seen as sudden and intense increases in brightness on the solar disk. They occur when magnetic field loops undergo reorganization, releasing energy into the solar coronal and chromospheric plasma. It is widely accepted that they are the result of the rapid conversion of a large amount of magnetic energy, previously stored in the solar corona, and dissipated through magnetic reconnections. The release...
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...United States and Canada to be a leader for injectable pharmaceuticals. The company, philosophy is to provide excellent products and services by hiring dedicated and committed employees to meet our customers’ needs. Our primary goal is to improve the health and care of patients who use our pharmaceutical products. II. Background/Overview of APP Pharmaceuticals APP was established in 1996 and has quickly become one of the industry leaders in providing one stop shopping for very commonly used products to very special products to meet the needs of a wide range of patients. There market produces 142 products in over 400 doses and formulations. A few of the clinical areas they cover are: Cardiac Care, Dialysis, Emergency, Intensive Care, OB/GYN, Operating Rooms, Oncology, Orthopedics, Pediatrics, Psychiatry and Radiology. (APP Pharmaceuticals, unkown) APP is the number three generic injectable supplier in the United States, and the only U.S. generic company with a dedicated cephalosporin injectable plant. APP currently employees over 1800 employees in North America with manufacturing facilities in Melrose Park, Illinois, Grand Island, New York, Raleigh, North Carolina. The corporate headquarters, science production and technology center is located in Skokie, Illinois. (APP Pharmaceuticals, unkown) As...
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...CHAPTER SIX Coordinate Geometry Coordinate geometry is geometry done in the number plane, using algebra. • Points are represented by pairs of numbers, and lines by linear equations. • Circles, parabolas and other curves are represented by non-linear equations. Points, lines and intervals are the main topics of this chapter. 6 A Lengths and Midpoints of Intervals An interval is completely determined by its two endpoints. There are simple formulae for the length of an interval and for the midpoint of an interval. The Distance Formula: The formula for the length of an inter- y val P Q is just Pythagoras’ theorem in different notation. Let P (x1 , y1 ) and Q(x2 , y2 ) be two points in the plane. Construct the right-angled triangle P QA, where A(x2 , y1 ) lies level with P and vertically above or below Q. Then P A = |x2 − x1 | and QA = |y2 − y1 |, and so by Pythagoras’ theorem in P QA, Q(x2,y2) y2 y1 P(x1,y1) x1 A x2 x P Q2 = (x2 − x1 )2 + (y2 − y1 )2 . DISTANCE FORMULA: Let P (x1 , y1 ) and Q(x2 , y2 ) be two points in the plane. Then 1 P Q2 = (x2 − x1 )2 + (y2 − y1 )2 . • First find the square P Q2 of the distance. • Then take the square root to find the distance P Q. WORKED EXERCISE: Find the lengths of the sides AB and AC of the triangle with vertices A(1, −2), B(−4, 2), and C(5, −7), and hence show that ABC is isosceles. SOLUTION: First, AB 2 = (x2 − x1 )2 + (y2 − y1 )2 2 so = − 4 − 1 + 2 − (−2) = (−5)2 +...
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...SCHAUM'S OUTLINE OF THEORY AND PROBLEMS OF COLLEGE PHYSICS Ninth Edition . FREDERICK J. BUECHE, Ph.D. Distinguished Professor at Large University of Dayton EUGENE HECHT, Ph.D. Professor of Physics Adelphi University . SCHAUM'S OUTLINE SERIES McGRAW-HILL New York St. Louis San Francisco Auckland Bogota Caracas Lisbon London Madrid Mexico City Milan Montreal New Delhi San Juan Singapore Sydney Tokyo Toronto McGraw-Hill abc Copyright © 1997, 1989, 1979, 1961, 1942, 1940, 1939, 1936 by The McGraw-Hill Companies, Inc All rights reserved. Manufactured in the United States of America. Except as permitted under the United States Copyright Act of 1976, no part of this publication may be reproduced or distributed in any form or by any means, or stored in a database or retrieval system, without the prior written permission of the publisher. 0-07-1367497 The material in this eBook also appears in the print version of this title: 0-07-008941-8. All trademarks are trademarks of their respective owners. Rather than put a trademark symbol after every occurrence of a trademarked name, we use names in an editorial fashion only, and to the benefit of the trademark owner, with no intention of infringement of the trademark. Where such designations appear in this book, they have been printed with initial caps. McGraw-Hill eBooks are available at special quantity discounts to use as premiums and sales promotions, or for use in corporate training programs. For more...
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...LESSON 1 INTRODUCTION TO ACCOUNTING Contents 1.0 Aims and Objectives 1.1 Introduction 1.2 Book- Keeping 1.2.1 Meaning 1.2.2 Definition 1.2.3 Objectives 1.3 Accounting 1.3.1 Meaning 1.3.2 Definition 1.3.3 Objectives 1.3.4 Importance 1.3.5 Functions 1.3.6 Advantages 1.3.7 Limitations 1.4 Methods of Accounting 1.4.1 Single Entry 1.4.2 Double Entry 1.4.3 Steps involved in double entry system 1.4.4 Advantages of double entry system 1.5 Meaning of Debit and Credit 1.6 Types of Accounts and its rules 1.6.1 Personal Accounts 1.6.2 Real Accounts 1.6.3 Nominal Accounts 1.7 Distinction between Book Keeping and Accounting 1.8 Branches of Accounting 1.8.1 Financial Accounting 1.8.2 Cost Accounting 1.8.3 Management Accounting 1.9 Let us Sum Up 1.10 Lesson-End Activities 1.11 Check your Progress 1.12 Points for Discussion 1.13 References 1.0 AIMS AND OBJECTIVES i) ii) To know the Meaning ,Definition and objective of Book- Keeping To study the objectives, functions, importance and limitations of Accounting iii) To understand the methods of Accounting, kinds of Accounts and Accounting rules. This watermark does not appear in the registered version - http://www.clicktoconvert.com 1 iv) To study the difference between Book- keeping and Accounting v) To study the various branches of Accounting 1.1 INTRODUCTION In all activities (whether business activities or non-business activities) and in all organizations (whether business organizations like a manufacturing entity or trading...
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...Unit 1 Concepts of Managerial Economics Learning Outcome After going through this unit, you will be able to: • • • • Explain succinctly the meaning and definition of managerial economics Elucidate on the characteristics and scope of managerial economics Describe the techniques of managerial economics Explain the application of managerial economics in various aspects of decision making • Explicate the application of managerial economics in marginal analysis and optimisation Time Required to Complete the unit 1. 2. 1st Reading: It will need 3 Hrs for reading a unit 2nd Reading with understanding: It will need 4 Hrs for reading and understanding a unit 3. 4. 5. Self Assessment: It will need 3 Hrs for reading and understanding a unit Assignment: It will need 2 Hrs for completing an assignment Revision and Further Reading: It is a continuous process Content Map 1.1 1.2 Introduction Concept of Managerial Economics 1.2.1 Meaning of Managerial Economics 1.2.2 Definitions of Managerial Economics Managerial Economics 1 1.2.3 Characteristics of Managerial Economics 1.2.4 Scope of Managerial Economics 1.2.5 Why Managers Need to Know Economics? 1.3 1.4 Techniques of Managerial Economics Managerial Economics - Its application in Marginal Analysis and Optimisation 1.4.1 1.4.2 1.5 1.6 1.7 Application of Managerial Economics Tools of Decision Science and Managerial Economics Summary Self Assessment Test Further Reading 2 Managerial Economics 1.1 Introduction ...
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...THIRD EDITI ----- --·-- --·-- - - -- - O N -- SU PP LY CH AI N MA NA GE ME NT Stra tegy , Plan ning , and Ope ratio n Sunil Chopra Kellogg Schoo l of Manag ement Northwestern University Peter Meindl Stanfo rd University --------Prentice I-I all Uppe r Saddl e River , New Jersey ·--· PEAR SON -- · - · - - - "ibrary of Congress Cataloging-in-Publication Data :::hopra, Sunil Supply chain management: strategy, planning, and operation I Sunil Chopra, >eter Meind!.-3rd ed. p. em. Includes bibliographical references and index. ISBN: 0-13-208608-5 1. Marketing channels-Managemen t. 2. Delivery of goods-Management. i. Physical distribution of goods-Management. 4. Customer servicesvfanagement. 5. Industrial procurement. 6. Materials management. I. vfeindl, Peter II. Title. HF5415.13.C533 2007 658.7-dc22 2006004948 \VP/Executive Editor: Mark Pfaltzgraff ii:ditorial Director: Jeff Shelstad ;enior Project Manager: Alana Bradley E:ditorial Assistant: Barbara Witmer Vledia Product Development Manager: Nancy Welcher \VP/Executive Marketing Manager: Debbie Clare Vlarketing Assistant: Joanna Sabella ;enior Managing Editor (Production): Cynthia Regan flroduction Editor: Melissa Feimer flermissions Supervisor: Charles Morris Vlanufacturing Buyer: Michelle Klein Vlanager, Print Production: Christy Mahon Composition/Full-Service Project Management: Karen Ettinger, TechBooks, Inc. flrinter/Binder: Hamilton Printing Company Inc. fypeface: 10/12 Times Ten Roman :::redits...
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...THIRD EDITI ----- --·-- --·-- - - -- - O N -- SU PP LY CH AI N MA NA GE ME NT Stra tegy , Plan ning , and Ope ratio n Sunil Chopra Kellogg Schoo l of Manag ement Northwestern University Peter Meindl Stanfo rd University PEAR SON --------Prentice I-I all Uppe r Saddl e River , New Jersey ·--· -- · - · - - - "ibrary of Congress Cataloging-in-Publication Data :::hopra, Sunil Supply chain management: strategy, planning, and operation I Sunil Chopra, >eter Meind!.-3rd ed. p. em. Includes bibliographical references and index. ISBN: 0-13-208608-5 1. Marketing channels-Managemen t. 2. Delivery of goods-Management. i. Physical distribution of goods-Management. 4. Customer servicesvfanagement. 5. Industrial procurement. 6. Materials management. I. vfeindl, Peter II. Title. HF5415.13.C533 2007 658.7-dc22 2006004948 \VP/Executive Editor: Mark Pfaltzgraff ii:ditorial Director: Jeff Shelstad ;enior Project Manager: Alana Bradley E:ditorial Assistant: Barbara Witmer Vledia Product Development Manager: Nancy Welcher \VP/Executive Marketing Manager: Debbie Clare Vlarketing Assistant: Joanna Sabella ;enior Managing Editor (Production): Cynthia Regan flroduction Editor: Melissa Feimer flermissions Supervisor: Charles Morris Vlanufacturing Buyer: Michelle Klein Vlanager, Print Production: Christy Mahon Composition/Full-Service Project Management: Karen Ettinger, TechBooks, Inc. flrinter/Binder: Hamilton Printing Company Inc. fypeface:...
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...<!DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Strict//EN""http://www.w3.org/TR/xhtml1/DTD/xhtml1-strict.dtd"><html><head><title>Business Policy And Strategic Management - G. V. Satya Sekhar - Google Books</title><script>(function(){(function(){function d(a){this.t={};this.tick=function(a,c,b){b=void 0!=b?b:(new Date).getTime();this.t[a]=[b,c]};this.tick("start",null,a)}var a=new d;window.jstiming={Timer:d,load:a};if(window.performance&&window.performance.timing){var a=window.performance.timing,c=window.jstiming.load,b=a.navigationStart,a=a.responseStart;0<b&&a>=b&&(c.tick("_wtsrt",void 0,b),c.tick("wtsrt_","_wtsrt",a),c.tick("tbsd_","wtsrt_"))}try{a=null,window.chrome&&window.chrome.csi&&(a=Math.floor(window.chrome.csi().pageT), c&&0<b&&(c.tick("_tbnd",void 0,window.chrome.csi().startE),c.tick("tbnd_","_tbnd",b))),null==a&&window.gtbExternal&&(a=window.gtbExternal.pageT()),null==a&&window.external&&(a=window.external.pageT,c&&0<b&&(c.tick("_tbnd",void 0,window.external.startE),c.tick("tbnd_","_tbnd",b))),a&&(window.jstiming.pt=a)}catch(e){}})();})(); </script><script>(function() {var preloadImg = document.createElement('img');preloadImg.src = 'http://books.google.com/books?id=nYNPtZNnx9YC&pg=PR2&img=1&zoom=3&hl=en&sig=ACfU3U1vGx3jE1apd2pjAdwnJ_85sunasA&w=685';window['_OC_preload_image_url']...
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...Managerial Economics MBA First Year Paper No. 2 School of Distance Education Bharathiar University, Coimbatore - 641 046 Author: Atmanand Copyright © 2007, Bharathiar University All Rights Reserved Produced and Printed by EXCEL BOOKS PRIVATE LIMITED A-45, Naraina, Phase-I, New Delhi-110028 for SCHOOL OF DISTANCE EDUCATION Bharathiar University Coimbatore-641046 CONTENTS Page No. UNIT-I Lesson...
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...AACSB Table 10-1: Summary of Faculty Qualifications, Development Activities, and Professional Responsibilities Date Range: January 1, 2007 - August 1, 2012 Accounting: Professor | | | | | | | Five-Year Summary of Development Activities Supporting AQ or PQ Status | | Name | Highest Earned Degree & Year | Date of First Appointment to the School | Percent of Time Dedicated to the School's Mission | Acad Qual | Prof Qual | Other | Intell. Contrib. | Prof. Exper. | Consult. | Prof. Develop. | Other Prof. Activities | NormalProfessionalResponsibilities | | | | | | | | | | | | | | Som Bhattacharya | Ph D, 1994 | | 100.0 | YES | | | 12 (5) | Service: 0Work: 0 | 0 | 0 | Editor/Review: 6Other:13 | UG, GR, RES, SER and ADM | Intellectual Contributions (12) Hopwood, W., Bhattacharya, S., Premuroso, R. (2011). Tasteless Tea Company: A Comprehensive Revenue Transaction Cycle Case Study. Issues in Accounting Education, 26(1), 163-179. Cao, J., Nicolaou, A., Bhattacharya, S. (2010). A Longitudinal Study of market and Firm Level Factors Influencing ERP Systems’ Adoption and Post-Implementation System Enhancement Options. 7th Annual International Conference on Enterprise Systems, Accounting, and Logistics. Rhodos: ICESAL. Behara, R., Bhattacharya, S. (2008). DNA of a successful BPO. Journal of Service Science, 1(1), 111-118. Premuroso, R., Bhattacharya, S. (2008). Do Early Members of XBRL International Signal Superior Corporate Governance and Future...
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...Essentials Ruth E. McCall, BS, MT (ASCP) Retired Program Director and Instructor Central New Mexico Community College Albuquerque, New Mexico President, NuHealth Educators, LLC Faculty, Emeritus Phoenix College Phoenix, Arizona Fifth Edition Cathee M. Tankersley, BS, MT (ASCP) Acquisitions Editor: Peter Sabatini Product Manager: Meredith L. Brittain Marketing Manager: Shauna Kelley Designer: Holly McLaughlin Production Services: Aptara, Inc. Fifth Edition Copyright © 2012, 2008 by Lippincott Williams & Wilkins, a Wolters Kluwer business. Two Commerce Square 2001 Market Street Philadelphia, PA 19103 351 West Camden Street Baltimore, MD 21201 Printed in China All rights reserved. This book is protected by copyright. No part of this book may be reproduced or transmitted in any form or by any means, including as photocopies or scanned-in or other electronic copies, or utilized by any information storage and retrieval system without written permission from the copyright owner, except for brief quotations embodied in critical articles and reviews. Materials appearing in this book prepared by individuals as part of their official duties as U.S. government employees are not covered by the above-mentioned copyright. To request permission, please contact Lippincott Williams & Wilkins at Two Commerce Square, 2001 Market Street, Philadelphia, PA 19103, via email at permissions@lww.com, or via website at lww.com (products and services). 9 8 7 6 5 4 3 2 1 Library of Congress...
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