...management and the audit committee about the control environment, ongoing compliance and conditions for potential risk. The compliance audit should evaluate the effectiveness of the compliance management program, including policies and procedures, training, monitoring and consumer complaint response. A financial institution’s audit committee should determine the scope of an audit and the frequency with which audits are conducted. Examiners are seen questioning institutions about their overall compliance program management and digging into the elements of policies and procedures, training, and quality control assessment. Overlying compliance program management is the role of internal audit. Regulatory guidance and best practices have helped define which elements are necessary to help an organization mitigate risks associated with compliance. Some of the basic elements include: designation of a compliance officer, policies, internal processes and controls, regulatory change management, quality control, consumer complaint response process and audit (Sullivan, 2011). The two elements of assessing the overall effectiveness of a compliance program are quality control and audit. The end goal of a quality control function is to monitor how well departmental policies and procedures are being executed. Ultimately, the function should be risk-based, focusing the most resources on the areas of greatest risk. Completed quality control reviews should be aggregated and reported to the compliance...
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...CHAPTER ONE 1.0 INTRODUCTION 1. Background of the study Restructuring is A general term for major corporate changes aimed at greater efficiency and adaptation to changing markets. Spin-Offs, Recapitalisations, Strategic Buyouts and major management realignments are all developments frequently associated with corporate restructurings (Financial & Investment Dictionary, Barron’s, 2000). The verb restructure has one meaning: to reconstruct or form anew or provide with a new structure. Restructuring is significant modification made to the debt, operations or structure of a company. This type of corporate action is usually made when there are significant problems in a company, which are causing some form of financial harm and putting the overall business in jeopardy. The hope is that through restructuring, a company can eliminate financial harm and improve the business. (Investment Dictionary, Investopedia 2002). Restructuring is a method of raising organisational efficiency by questioning every stage of key operational processes to see if they still achieve what is required of them in terms of cost, quality service and speed. Restructuring is the corporate management term for the act of partially dismantling and reorganizing a company for the purpose of making it more efficient and therefore more profitable. It generally involves selling off portions of the company and making severe staff reductions. Restructuring is often done as part of a bankruptcy or of a takeover...
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...It is a relatively new company providing high quality retailing goods and additional services. Our business mainly involves purchasing goods in bulk from manufactures and suppliers, and selling them in small quantities. Our products includes retail groceries, Cosmetics, Home utensils, Electronic goods, Apparels, Office stationery, Food products, Leisure and Entertainment, Interiors, Books and Music, exclusive jewelers showrooms, Sports accessories and other additional services. Hubli is the major city of Dharwad district and is a famous industrial town, with 7, 30,000 populations and well connected to rail, road and airways with excellent opportunities for retailing. We have estimated an investment of Rs. 10 crores and our expected profit ratio is 8.5% on our investment. Company Summary Location: The economy of Hubli and Dharwad is basically business oriented in nature it is evident from the fact that nearly 35% of population is involved in business and related activities. So we planned to setup our retail outlet in Hubli.Hubli is well connected by rail, road and airways which will help to manage supply chain. We have selected...
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...department and the organisation as a whole. Also, in the course of your conversation the Managing Director has mentioned that the company is seeking to raise finance for a substantial capital investment opportunity that has arisen recently. You are required to outline your understanding of the budget process and also make some suggestions as to how the company would attempt to raise finance for the proposed investment. (60 Marks) Evaluate the need for companies to maintain an adequate cash-flow and discuss how you would attempt to measure one company’s performance against another with the use of ratios. (20 Marks) Discuss briefly, in your opinion, what the main causes of the current economic problems in Ireland are, and what steps should be taken to improve the economy. (20 Marks) Diploma in Logistics and Supply Chain Management Module 1: Financial Management Gary Doyle, Student Member, CILT 3 Budgeting Budgeting is one of the most important tasks undertaken in any organisation, whether it is a public or private company, a not-for-profit organisation, or any other group which must control amounts of cash or funds. Budgeting is an integral part of the overall direction in which a business is going. Any company, be it a start-up operation, or a long-established business; will implement a business plan to guide the course of their actions. Business plans generally involve: Identifying Objectives Searching for Possible Courses of Action Selecting a Course of...
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...below 45 percent—almost the lowest among large emerging market economies. The 2008–09 recession made the situation much worse, with some 1 million jobs eliminated and a sizable group of discouraged workers leaving the labor force, further reducing the absorption rate to 40½ percent in 2009 (Figure 1). Recognizing the gravity of the situation, the authorities made job creation the top priority in the 2010 and 2011 budgets. The New Growth Brazil Chile China Colombia India Indonesia Israel Korea Malaysia Mexico Peru Philippines Poland Russia Thailand Ukraine 70 70 90 90 2009 Argentina Hungary South Africa Turkey 30 30 50 50 2000 Figure 1. Employment (Percent of working age population)WHAT DO FAST JOB CREATORS LOOK LIKE? WHAT DO FAST JOB CREATORS LOOK LIKE? SOME STYLIZED FACTS AND PERSPECTIVES ON SOUTH AFRICA SOME STYLIZED FACTS AND PERSPECTIVES ON SOUTH AFRICA 2 Path (NGP) set an ambitious target of creating 5 million more jobs in the next decade, so as to reduce the unemployment rate by 10 percentage points. Against this backdrop, this Departmental Paper examines the job creation performance in a group of large emerging market economies, including South Africa, and highlights some common economic characteristics that are likely associated with fast job creation. This Departmental Paper is structured as follows. The next section highlights some factors identifi ed by the existing literature that are related to job creation...
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...Capital Budgeting Brenda Armstead PPA603: Government Budgeting (MGB524DS) Instructor: Dr. Regis Chapman July 13, 2015 Introduction: According to Lee el at (2008), “Three main factors influence debt capacity: expenditure pressures, resource availability, and the commitment of governmental officials to use resources to meet debt requirements. Assessing resource availability involves analyzing all potential sources of revenue including own-source revenues; transfers from other levels of government; and types of self-financing including user charges, special assessments, impact fees, and a variety of other measures to collect fees or revenues sufficient to support the specific project or facility. Expenditure analysts look at the present and potential future commitments of jurisdictions. Population growth, changing economic conditions, the state of the current capital facilities and infrastructure base, and the socioeconomic characteristics of the population are important influences on potential future expenditures. Fiscal capacity analysis, focusing on the ability to generate revenues, and on expenditure needs, is used to determine present fiscal conditions and estimate future conditions” (P. 555). Discuss how the debt capacity of a governmental entity is determined: “Within the FY2015 budget document are defined explanations of any changes from FY2014. Equally important as the aforesaid statement are the estimated revenues derived from taxes...
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...study in IPCC are – Group I Paper 1: Accounting (100 marks) Paper 2: Law, Ethics and Communication Part I: Law (60 marks) Business Laws (30 marks) Company Law (30 marks) Part II: Business Ethics (20 marks) Part III: Business Communication (20 marks) Paper 3: Cost Accounting and Financial Management Part I: Cost Accounting (50 marks) Part II: Financial Management (50 marks) Paper 4: Taxation Part I: Income-tax (50 marks) Part II: Service Tax (25 marks) and VAT (25 marks) Group II Paper 5: Advanced Accounting (100 marks) Paper 6: Auditing and Assurance (100 marks) Paper 7: Information Technology and Strategic Management Section A: Information Technology (50 marks) Section B: Strategic Management (50 marks) The level of knowledge expected of students in the above subjects is ‘working knowledge’. INTEGRATED PROFESSIONAL COMPETENCE COURSE (IPCC) Syllabus GROUP I OF IPCC/ ACCOUNTING TECHNICIAN COURSE (ATC) Paper 1: Accounting (One paper – three hours – 100 marks) Level of Knowledge: Working Knowledge Objectives: (a) (b) (c) (d) To lay a foundation for the preparation and presentation of financial statements; To gain working knowledge of the principles and procedures of accounting and their application to different practical situations; To gain the ability to solve simple problems and cases relating to sole proprietorship, partnership and companies; and To familiarize students with the fundamentals of computerized system of accounting. Contents 1. 2. A General Knowledge of the framing...
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...1. What are the chief elements of the strategy that Whole Foods Market is pursuing? I found the following elements as the key strategy of Whole Foods:- * To have the best store locations and have big store sizes: Some of the features of stores are premium retail sites with high traffic, improved visibility, good parking. facility higher sales/sq foot, * Inorganic & Organic growth strategy : Acquisitions of Wild Oats and other stores in different and new geographic markets * Attracting broader customer base: By keeping higher percentage of perishable products * Selling premium products at premium prices: The company earns better while following this strategy. Besides that company is following its strategy to serve the growing niche market. According to survey, 27% of respondents indicated they consumed higher organic foods than last year * Good shopping experience with variety of premium products: * Decentralized decision making and empowered employees: 2. Is the strategy well matched to recent developments and conditions in the natural and organic foods segment of the food retailing industry? Yes, these strategies are very well working in context of conditions in the natural and organic food segments because of the following reasons. * Higher bargaining power with suppliers enable the company to better prepare themselves with enough inventory and at a cheap price * Taking advantage of the up tide in the growing consciousness among...
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... SPECIFICATION GRID 2 SCHEME OF ASSESSMENT 3 SYLLABUS OUTLINE 3 SYLLABUS CONTENT 5 SUMMARY OF COMMONLY USED RATIOS 15 RESOURCES 16 Singapore Examinations and Assessment Board MOE & UCLES 2014 1 9755 H2 PRINCIPLES OF ACCOUNTING (2016) INTRODUCTION Principles of Accounting aims to provide candidates with a foundation course in accounting at a breadth and depth appropriate to the A Level. It is designed to provide candidates with a sound understanding of financial and managerial accounting procedures and an appreciation of its role in society. The teaching approach emphasises the broad educational aspects of the subject rather than one which is vocational or professional in nature. There is no requirement to learn the published accounting standards. Prior knowledge is not necessary for students offering this syllabus. It is not the intent of this syllabus to be a pre-requisite for any business-related courses. AIMS 1. Develop an understanding of the concepts, principles and practices of accounting and the ability to apply them in a variety of business and personal situations; 2. Develop an understanding of the role of accounting as an information system for monitoring, problemsolving and decision-making in changing economic, social and technological environments; 3. Develop a critical approach to analysing and evaluating accounting policies and practices; 4. Develop skills of communication, analysis, interpretation and presentation of both qualitative and...
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... NO. | SUBJECTS | | PAGE No. | | 01 | ACKNOWLEDGEMENT | | 05 | | 02 | EXECUTIVE SUMMARY | | 06 | | 03 | COMPANY INTRODUCTION | | 07 | | 04 | Departmentation | | 24 | | I | H R. DEPARTMENT | | 25 | | II | INFORMATION TECHNOLOGY | | 30 | | III | MERCHANDISING DEPTT. | | 36 | | IV | PPC DEPTT. | | 43 | | V | PRODUCTION DEPTT. | | 48 | | VI | FINISHING DEPTT. | | 52 | | VII | QUALITY CONTROL DEPTT. | | 57 | | VIII | QUALITY ASSURANCE DEPTT. | | 59 | | IX | FORWARDING DEPARTMENT | | 60 | | X | PROCUREMENT DEPTT. | | 67 | | XI | STORE DEPTT. | | 68 | | XII | INDUSTRIAL ENGINEERIN | | 70 | | XIII | FINANCE DEPARTMENT | | 72 | | 5 | PEST ANALYSIS | | 100 | | 6 | SWOT ANALYSIS | | 105 | | 7 | SUGGESTIONS | | 114 | | 8 | CONCLUSIONS | | 115 | | Acknowledgement All praises are for Allah almighty that has bestowed upon human being the crown of creation and has endowed him with knowledge and wisdom. After Allah, is the last prophet Mohammed (SAW) who brought for us revelation and unlimited knowledge and civilized the barbarian human being. Although this report base only my name but numerous people were very important to the development of this report without the support of them I could never successfully completed the internship as well as the report. I am highly thank full to the staff member of...
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...HISTORY: PACKAGES Ltd is the among the most prestigious, versatile and advanced companies of Pakistan. It is surely the market leader when it comes to providing packaging solutions. With the best business practices and most modern systems deployed, Packages Ltd is on top of the market. Packages Ltd. is an industrial organization manufacturing packaging material which provides services for other industries. Its business is to provide packaging materials for the products of different industries. It also produces all types of tissues available in the local market as well as for export purposes. There are more than 3000 employees working in the company. Packages Limited has had a joint venture with Tetra Pak International in Tetra Pak Pakistan Limited to manufacture paperboard for liquid food packaging and to market Tetra Pak packaging equipment. Packages commissioned its own paper mill with a production capacity of 24,000 tonnes in 1968. The mill produces paper and paperboard based on waste paper and agricultural by-products like wheat straw and river grass. With growing demand the capacity was increased periodically and in 2003 was nearly 100,000 tonnes per year. In the beginning 22 Swedish Experts came to Pakistan to run the factory and to train the Pakistani staff. Packages Limited was established in 1957 as a joint venture between the Ali Group of Pakistan and Akerlund & Rausing of Sweden, to convert paper and Paperboard into packaging for consumer industry in 1958...
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...the only instrument. The only way to meet the Right to Education obligation is to rely on low cost private schools as a significant instrument of the government education policy. On the contrary, the proposed rte bill introduces provisions that would oppose low cost private schools. Therefore, the legislation for rte needs to be modified and framed with specific provisions for private-public partnerships. Pankaj S Jain ( pjain2002@yahoo.com) is at Gyan Shala, Ahmedabad and Ravindra H Dholakia (rdholkia@iimahd.ernet.in) is with the Indian Institute of Management, Ahmedabad. 38 T he Directive Principles of Indian Constitution obligates the Indian government to ensure universal school education. In the wake of various official committees and policy pronouncements in this regard, the Indian government has decided to submit a Right to Education (RTE) bill for parliamentary approval, which shall make it a right of each child to receive school education during 6-14-year age. The draft of this bill that implicitly mandates reliance on government type of school system as the major vehicle for RTE implementation has been approved by the cabinet. The present article analyses budgetary implications of implementing this right that provides for its court mandated enforcement. 1 Background In our analysis, the demands on the use of education budget have been pegged at a level that has been endorsed by the Tapas Majumdar Committee (1999), which corresponds...
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...since 1991 has as yet been quantitatively modest. It is perhaps too early to judge the effects of these initiatives on their financial performance. While the slow pace of the reform can be perceived as an opportunity, there is perhaps merit in carefully reviewing the policy in light of economic theory, and comparative experience. As the bulk of the public investments are in industries with economies of scale and scope (with externalities that in principle invite considerable regulation), this study suggests an alternative institutional arrangement for improving PSEs’ financial performance: mutual stock holding among complementary enterprises tied around a public sector bank to minimise problems of soft budget constraint, dysfunctional legislative and bureaucratic interference, and to encourage close interaction between banks and firms to promote long term economic development. Introduction: Employing about 19 million persons, public sector currently contributes about a quarter of India’s measured domestic output. Administrative departments (including defense) account for about 2/5th of it, the rest comes from a few departmental enterprises (like railways and postal services), and a large number of varied non-departmental enterprises producing a range of goods and services. These include, close to 250 public sector enterprises (PSEs) owned and managed by the central government, mostly in industry and services (excluding the commercial banks and financial institutions). At the state...
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...Management 2th Quarter SY 2014 – 2015 Executive Summary TABLE OF CONTENTS LIST OF TABLES & FIGURES I. Introduction Asian Technicon Managers and Consultants, Inc. (ATMCI) was organized and incorporated in 1989. ATMCI is envisioned to be an answer to the call of the construction industry for an independent professional team that will act as the orchestrator among project participants: Owner/Developer, Designers, Specialist Consultants, Constructors and Suppliers, with ATMCI providing leadership of a project. With years of working together as the nucleus of the Project Management Team of one of the top corporations in the Philippines, with domestic and overseas operations, the Member of the Team formed a strong group that gave birth to Asian Technicon Managers and Consultants, Inc. Asian Technicon Managers and Consultants, Inc.(ATMCI) was currently one of the top 100 companies in the construction management industry. Services that they offer are the Total Project Management Services such as Project Initiation and Planning, Design and Specifications Coordination, Budget Estimates and Cost Planning, Procedures and Systems, Planning and Scheduling, Contract Documents and Tender Evaluation, Contract Administration, Procurement and Expediting, Cost Administration and Control, Construction Supervision and Management, Cost Administration and Ancillary Services, Final Report, and Start-up and Commissioning Assistance. Other services they offer are Project Feasibility Studies...
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...CHAPTER 1: MANAGEMENT ACCOUNTING Introduction: Accounting may be broadly classified into two categories – accounting which is meant to serve all parties external to the operating responsibility of the firms and the accounting which is designed to serve internal parties who take care of the operational needs of the firm. The first category which is conventionally referred to as financial accounting, looks to the interest of those who have primarily a financial stake in the organization’s affairs – creditors, investors, employees etc. On the other hand the second category of accounting is primarily concerned with providing information relating to the conduct of the various aspects of a business like cost or profit associated with some portions of business operations to the internal parties viz., management. This category of accounting is called as Management accounting. In order to perform the primary task of decision making managers of business enterprises need information about the past, present and future in the functional areas of management such as personnel, finance, marketing and production. Right decision making has to be based on quantitative and qualitative information. The management thus constantly needs accounting information to base its decisions upon. Thus management accounting provides the information needed by management personnel. Definition: The Institute of Chartered Accountants of England has defined management accounting as: “Any form of accounting...
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