...SAS 112 and SAS 115 Explanation to Key Clients Tara Stanley, Kenya Irving and Cynthia Etzel COM/530 Communications for Accountants August 25, 2014 Gloria Davis MEMORANDUM TO: Clients of ACE Accounting FROM: Kim Jones, Junior Accountant DATE: August 25, 2014 SUBJECT: Statement of Accounting Standards SAS 112 and SAS 115 Auditing Changes In response to the recent changes to the auditing processes, our company felt the need to clarify the changes and how they will affect your company. The SAS 112 and SAS 115 enforce changes to the auditing process for private companies, governments and non-profit organizations. These changes bring the audit process in line with current processes already in place for publicly held companies. The changes went into effect for audits of financial statements ending on or after December 15, 2006 and December 15, 2009 respectively. The significant changes apply to the definitions of internal control deficiencies, significant deficiencies and material weaknesses. The SAS 112 defines internal control deficiencies as “a design or operation of a control that does not allow management or employees to prevent or detect misstatements on a timely basis” (American Institute of CPAs, 2006). The SAS 115 further defines internal control deficiencies by adding the word correct to the definition. Under the SAS 112, auditors are required to note whether or not the internal controls could detect and prevent errors. Under...
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...Accounting Firm, LLC. Memo To: Firm Accountants From: Junior Accountant Date: 20/08/2012 Re: The New Statement of Accounting Standards (SAS) 112 Changes have been made regarding the rules auditors must follow. The purpose of this memo is to inform all the accountants about the new Statement of Accounting Standard (SAS) No. 112,Communicating Internal Control Related Matters Identified in an Audit issued by the American Institute of Certified Public Accountants (AICPA). Management considers SAS No. 112 an imperative accounting standard to know, understand, and communicate effectively and efficiently. SAS No. 112 establishes standards and provides guidance on communicating matters related to an entity’s internal control over financial reporting identified in an audit of financial statements (American Institute of Certified Public Accountants, 2011). SAS No. 112 replaces SAS No. 60 and is effective for periods ending on or after December 15, 2006. Consequently, the term “reportable condition” will become extinct. The terms “significant deficiency” and “material weaknesses” are used to describe control deficiencies that must be communicated to management and those charged with governance during audits. The underlying principle deals with identified control deficiencies and determines whether these deficiencies, individually or in combination, are significant deficiencies or material weaknesses (American Institute of Certified Public Accountants, 2011). Auditors are...
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...SWATCH WATCH U.S.A.: CREATIVE MARKETING STRATEGY ABSTRACT Switzerland was an industry leader in the watch market up until the 1970's when the digital watch was introduces to consumers. The digital watch was inexpensive to manufacture and could be produced in mass. It created a whole new market by making watches inexpensive enough for all classes of people. The Swiss did not respond to this new competition and began to lose their market share. The Swiss watchmakers still produced high end watches for the wealthy, but did not compete for the lower end market. In the 1980's the Swiss watchmakers began to realize they needed to change their business model to fit in to the new global market place. They needed to not only change their views of the market but the infrastructure of watch manufacturing. In order to compete on a global level they needed to improve their technology, design products that would appeal to new markets and be able to compete with other companies both in quality and cost. The development of Swatch® allowed one company, the Swiss Corporation for Microelectronics and Watchmaking Industries (SMN), to do just that. SMN developed a product that was appealing to a younger target market. Their new design, distribution and production strategies created a niche market that became popular worldwide. The company developed an advertising campaign that was new to the watch industry and was strongly directed at a younger audience. SMN was extremely successful...
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...Harvard Business School 8-489-046 Rev. May 31, 2001 Jan Carlzon In June 1974, at the age of 32, I sat down behind the desk in the president’s office of Vingresor, a subsidiary of the Scandinavian Airlines System that assembles and sells vacation package tours. I’d been selected president after only six years of working life. I had authority over 1,400 employees, many of them roughly the same age as I. My qualifications were no better than anyone else’s, and there was no obvious reason for making me president. I was afraid—afraid that I wouldn’t be accepted and afraid that I would fail. I had taken over at Vingresor during troubled times. The 1973-1974 oil crisis had escalated air travel prices so much that passengers shied away from charter trips. It was our job to make Vingresor profitable again. We didn’t have many options. The main functions of a tour operator like Vingresor are to contract for flights and hotels and set up a service section at the travel resort that organizes excursions and activities. Then all these pieces are packaged together for the customer to purchase. The operator’s profit is to a great extent a question of cost: the more money invested throughout the various stages of assembling the package, the smaller the profit margin and the greater the chances of losing money. The less invested, the less the risk. In a sagging market, most product-oriented executives would have cut back on service. But this would only bring in less revenue, creating an...
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...Case about SAS institute ins. 1. One critic calls SAS "a big brother approach to managing people." Is the company too paternalistic? Can a company be too paternalistic? I do believe that SAS's approach to managing people is the result of an accurate analysis performed by the management staff. Therefore, when the management discusses improving employee retention rates, the initial topic is often higher salaries and bonuses. That is partly valid, because money is a key element; as SAS can attest, retention efforts can be very effective if they focus on more ways to spend the money than just increasing salary levels. With its strategy to boost employee retention, the company has created a culture and programs that encourage and drive employee loyalty. According to Pfeffer (2001), "Your profits come from loyal customers who do business with you for reasons other than just price. Customer loyalty is a consequence of loyalty from employees who produce great products and offer great service. In the short run, with enough venture money and enough product demand, any business model may appear feasible. In the long run, those companies that actually run their businesses efficiently and produce sustainable results will be the ones you keep reading about." ( 18). I do not think that this is a "big brother approach" at all; at the end, it is just a way to achieve a better business result. The top management prefers to spend money on the employees rather than spending money on recruiters...
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...第一章 SAS 软件入门 1.1 SAS 语言 许多软件要么是菜单驱动，要么是命令驱动（输入命令——看结果） 。SAS 两者都不是，在 SAS 中，你用一个叫做 SAS 程序的一系列指令语句，这些程序可以表达出你想做的事情，并 用 SAS 语言写下来。SAS 有菜单驱动栏，比如 SAS 企业向导模块，它使 SAS 看起来像一个点 击的软件， 但这些模块仍然使用 SAS 语言为你写程序。 如果你试图用 SAS 写下你自己的程序， 那就要具备一定的灵活性。 SAS 程序 一个 SAS 程序就是一个按顺序执行的语句序列，一个语句给 SAS 下达信息和指 令， 且必须要正确的安放。 一个常用来与 SAS 程序做类比的例子是去银行取款， 你进入银行、 排队、轮到你，那么你会对柜台谁你想做的事，叙述语句可能会是这样： I would like to make a withdrawal. My account number is 0937. I would like$200. Give me five 20s and two 50s. 注意第一句话说了你想做的事情， 之后把相关信息传递给柜台并帮你完成要求。 这里信息传 递的顺序不重要，重要的是在你的叙述中，首先要说明你要做什么。你不能先说： “Give me five 20s and two 50s.”这会使柜台小姐一头雾水。此外，你必须确保后面的语句都围绕第一 句展开。 SAS 语句 像任何语言一样，SAS 语句的编写也需要遵守一些语法规则。幸运的是，相比英 语来说，SAS 语句的规则不仅少，而且简单。 最重要的规则是： 每一个 SAS 语句都由一个分号结尾 听起来很简单， 但即使最富有经验的 SAS 程序员也会偶然忘记分号。 如果你能记住这个规则， 再来看看另外两个规则吧。 SAS 程序布局 让每一条语句看起来整洁、用缩进来表现语句的各个部分，这是很有用的， 但不是必须的： SAS 语句不区分大小写。 一条语句可以持续到第二行（只要不把一个单词分开） 。 几条语句可以用一行。 1 可以在任何一列中开始一条语句 注释 可以在你的程序中插入一些注释，让它更容易明白。即使你插入一些你喜欢的食物品 名也不会对程序有所影响， 因为 SAS 不读取注释。 但不要忘记注释是为了让某人更轻松的学 习你的程序，并明白你为什么这么做。 *Read animals’weights from file; DATA animals; INFILE’c:\MyRawData\Zoo.dat’; INPUT Lions Tigers; PROC PRINT DATA=animals; /*Print the results*/ RUN; 有两种注释方法，一种是*号和；号；一种是用/* */表示，注意第二种注释方法不能放在第 一列 错误 SAS 程序通常将执行的错误标注为醒目的红色字母，你可能忘了分号，拼错了字母， 按错了键盘， 一个小错误会使得整个程序无法运行。 当你看到红色部分多余黑色部分的时候， 不要灰心。 1.2 SAS 数据集 在你进行分析、撰写报告、对你的数据进行任何处理之前，SAS 必须能够处理你的数据，你 的数据必须是一种叫 SAS 数据集的特殊形式。 因为 SAS 非常灵活， 能够读取任何形式的数据， ...
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...HISTORY The forerunner of Omega was founded at La Chaux-de-Fonds, Switzerland in 1848 by 23-year-old Louis Brandt, who assembled key-wound precision pocket watches from parts supplied by local craftsmen. He sold his watches from Italy to Scandinavia by way of England, his chief market. After Louis Brandt's death in 1879, his two sons Louis-Paul and César, troubled by irregular deliveries of questionable quality, abandoned the unsatisfactory assembly workshop system in favour of in-house manufacturing and total production control. Relocation Due to the greater supply of manpower, communications and energy in Biel/Bienne, the enterprise moved into a small factory in January 1880, then bought the entire building in December. Two years later the company moved into a converted spinning-factory in the Gurzelen area of Biel/Bienne, where its headquarters are still situated today. Their first series-produced calibres, Labrador and Gurzelen, as well as the famous Omega calibre of 1894, would ensure the brand's marketing success. Merger Louis-Paul and César Brandt both died in 1903, leaving one of Switzerland's largest watch companies — with 240,000 watches produced annually and employing 800 people — in the hands of four young people, the oldest of whom, Paul-Emile Brandt, was not yet 24. Brandt was the great architect and builder of Omega.[5] His influence would be felt over the next half-century. The economic difficulties brought on by the First World War would lead him to work...
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...Swatch Group 1 Professor: Rolf Butz 10/28/2008 International Business BADM 455 Section 2 Swatch Group 2 Table of Contents Executive Summary .............................................................................................................. 1 Introduction ......................................................................................................................... 5 History ................................................................................................................................. 5 Industry Analysis .................................................................................................................. 7 Company & SWOT Analysis ................................................................................................ 11 Current Situation &Global Market ..................................................................................... 17 Competitor Analysis ........................................................................................................... 23 Recommendation............................................................................................................... 26 Conclusion ......................................................................................................................... 29 Methodology ...
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...Corporate Diagnosis | | | Diana Lucia PERDOMO Mauricio BARAHONA Salvador MARTINEZ Louise NICOLAS Katarzyna FLUDRA | The Swiss watches’ company is present all over the world. It has successfully managed environment changes, as well as it resources and competences. This document seeks to analyze the external and internal forces that have influence on the company, in order to determine strengths, weaknesses, threats and opportunities. Nevertheless, the core of this work it to diagnose the interaction between the above, and the Marketing and Communication strategies that Swatch implements nowadays The Swiss watches’ company is present all over the world. It has successfully managed environment changes, as well as it resources and competences. This document seeks to analyze the external and internal forces that have influence on the company, in order to determine strengths, weaknesses, threats and opportunities. Nevertheless, the core of this work it to diagnose the interaction between the above, and the Marketing and Communication strategies that Swatch implements nowadays CONTENT Corporate Presentation 3 External Analysis 9 PESTEL 10 Political 10 Economical 10 Social 10 Technological 10 Ecological 10 Legal 10 Porter's 5 Competitive Forces 12 Mc Kinsey matrix 14 Internal Analysis 16 Value chain 17 Infrastructure 17 Human resource management 17 Technology development 18 Procurement 19 Operations 20 Outbound...
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...Market Analysis : SWATCH GROUP Basic Analysis of the Watch Segment Gyanashree Maharana PGDM – BM Section - B Roll No – 82 Date of Submission : 7/14/2012 SWATCH GROUP TABLE OF CONTENTS SWATCH GROUP: AN INTRODUCTION KEY PRODUCTS AND SERVICES BRANDS: WATCH SEGMENT SWATCH: WORLD MARKET SWATCH GROUP IN FIGURES PRODUCTION STRATEGY SEGMENTATION TARGETING POSITIONING PROMOTION SWOT ANALYSIS 3 3 3 4 4 5 6 10 10 10 10 Page | 2 SWATCH GROUP SWATCH GROUP: AN INTRODUCTION The Swatch Group (or just ‘SWATCH’) is a manufacturer and distributor of watches, movements, components and other products. The group also manufactures mechanical and quartz movements, and is active in the design, production and marketing of electronic components. Swatch has subsidiaries and distributors worldwide. It is headquartered in Biel, Switzerland and employs about 28,000 people. KEY PRODUCTS AND SERVICES The key products and services that constitute the group are as follows – 1. 2. 3. 4. WATCHES RETAILING PRODUCTION ELECTRONIC SYSTEMS Our basic concern in this report will be on the Watch Segment. BRANDS: WATCH SEGMENT The following are the various brands that comprise the Watch Segment of the Swatch Group1: Prestige and Luxury Range Breguet Blancpain Glashutte Original Jacquet Droz Tiffany and Co. Leon Hatot Omega High-Price Range Longines Rado Union Glashutte Middle-Price Range Tissot Balmain Certina Hamilton ck Watch and Jewellery Basic Range Swatch Flik Flak 1 Info as in the Annual Report...
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...CLIENT PROFILE The Swatch Group is an international group active in the manufacture and sale of finished watches, jewelry, watch movements and components. Swatch supplies nearly all components required by its nineteen watch brands, and Swatch companies supply movements and components to third-party watchmakers in Switzerland and around the world. Swatch Group is also a key player in the manufacture and sale of electronic systems used in watchmaking and other industries. Swatch employs more than 24 000 people in over 50 countries. THE CHALLENGE Swatch engaged the services of Real Facilities to evaluate its Greater Toronto Area real estate holdings, distribution network and repair facility in an attempt to manage its growing real estate costs. With two years remaining prior to expiry, the key challenge was to secure a long-term position in the market while simultaneously providing an exit strategy to accommodate changing business needs. REAL FACILITIES' RESPONSE Real Facilities took a very strategic approach to this requirement. A thorough analysis of Swatch's existing lease was completed together with indepth explorations of its operations and ongoing business strategy. Multiple scenarios were developed, including a potential relocation of operations to a new facility. Only at the appropriate time did Real Facilities engage in discussions with Swatch's existing landlord where the opportunity was presented to continue a long-term real estate relationship with...
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...1) Why was the Swatch so successful? In what way was this watch different from others in the industry? The first main reason why Swatch managed to gained so much popularity in the watch industry is because they managed to cut costs. Heyek had started a low-end product initiative and was fully committed to vertical integration, that is, he intended to build and assemble the low-price quartz watches entirely in Switzerland. This, along with the decision to encase the watch with cheap plastic, helped the company lower costs substantially while maintaining a high quality profile (as it was made in Switzerland). Heyek had an important role in the success of Swatch. He decided that the Swatch would have a unique message, one unlike that of any other watch brand in the market. The fact that the company was not only selling a watch, but an important part of people’s self image, in my opinion, is the main reason why Swatch succeeded. The Swatch was different from the other watches in many ways but the factor that distinguished it the most from the rest is the fact that it could add genuine emotion to the product. It basically changed the consumer’s perspective of the product. Previously, watches were considered to be timekeeping instruments which had no personal meaning. Swatch started to design and sell watches that allowed customers to show their individuality, “they featured witty, sometimes outlandish designs that used brash, intense colors”. 2) Do you agree with the original...
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...Swatch digital impact issues Swatch is a brand name for a line of wristwatches from the Swatch Group, a Swiss conglomerate with vertical control of the production of Swiss watches and related products. In 1984, Swatch was conceived and it was introduced to the market in Switzerland in March 1985. Swatch uses several software like Microsoft office, Adobe Creative Suite and other more technical software for the watches design and production. Swatch has its own website: http://www.swatchgroup.com where a lot of information is available: • The investors • The job seekers • The customers • The media and press. This website is very integral because it brings together many actors of the company. The website is also offering the “Swatch Group Info Service” which allows everyone to get information easily and efficiently about all the services of the company. Swatch is also present on Facebook, Swatch Watches has more than 650000 fans around the world and has a special page for every country, for example Swatch Türkiye has 220000 fans. Swatch is also on Twitter. Swatch has also a smartphone application: Swatch uses the main social networks for its communication, the creativity is a pillar for Swatch and its communication has also to be creative, the digitals tools of today offers to Swatch a lot of way to develop his image through the world. Swath communication: In its communication Swatch put the environmental question at the first plan: ...
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...INTERNATIONAL BUSINESS Title: SAS Scandinavian airline Teacher: Neil Coade Student: KhucThiNhung ID: 0201ndnd1109 Deadline: 21/10/2013 Table of Contents 1. INTRODUCTION ............................................................................................................. 3 2. LEADERSHIP .................................................................................................................. 4 3. ENVIROMENT ................................................................................................................. 5 4. STRATEGIC BUSINESS DEVELOPMENT IN THE FUTURE ......................... 6 4.1 A bright future with new airbus fleet. ......................................................................... 6 4.2 A long line fleet efficiency and modern ..................................................................... 6 4.3 Regarding fleet renewal plan long ............................................................................... 7 5. ORGANIZATION............................................................................................................. 7 6. MARKET ENTRY STRATEGY ................................................................................... 8 6.1 Strategic alliances .............................................................................................................. 8 6.1.1 Environment that can help the alliance strategy success .................................... 9 6.1.2 Environment having problems.........
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...Name: Instructor: Course Name: Date: Transformational Leadership Transformational leadership is the sort of leadership that inspires changes and transforms individual who follow a transformational leader (Gilbert). The concept of transformational leadership date back to 1978 when James McGregor Burns introduced it in his book, Leadership, where he defined it as a process where leaders and their followers heave one another to higher levels of morality and motivation. Such an approach to leadership has integrity, clear goals, high prospect, encourages others, offer support and acknowledgment, stirs the emotions of people, get people to look past their self-interest and instigates people to achieve for the improbable. John Kotter in his article, what leaders do, states "leadership and management are two distinctive and complementary systems of action. Each having its function and characteristic activities. Both traits are necessary for success in an increasingly complex and volatile business environment." It shows that for corporations, companies and firms to succeed must transformational leadership and management to be implemented hand in hand. Thus, understanding the difference between management and leadership may help companies groom their people to be able to provide both while at the same time shun away the myth that one cannot "manage and lead" (Hawkins). Transformational Leadership and Management Transformational leadership involves the following factors that would...
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