...practice. General concepts of theory formulation are discussed and types of accounting perspectives and research are also introduced in this course. Corporate Accounting Policies are explained by the development of the Conceptual Framework and the Importance of a Regulatory Environment. The Standard Setting process in Malaysia is discussed. An analytical approach of the accounting standards is adopted by examining the recognition, measurement, disclosure and presentation of accounting information is discussed. Significant emphasis is placed on Asset Measurement, Nature of Liabilities, Types of Equity, Recognition of Revenue and Income Finally contemporary accounting practices and issues are discussed including corporate governance and social and environmental reporting. LEARNING OBJECTIVES The primary objective of this course is to develop the critical skills in accounting students of not only understanding what and how accounting practices have been adopted but also why the accounting principles, policies and practices have developed in the professional...
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...Corporate Governance Principles Compliance Report 1. Statement of Compliance With Corporate Governance Principles In parallel with the Corporate Governance related activities initiated in late 2004 in Vestel Elektronik San. ve Tic. A.Ş., the corporate governance principles are now implemented within the Company. For the last seven years, the Company has been provided rating services by ISS Corporate Services Inc. (ISS), a leading international rating agency, in order to have the relevant practices examined independently and to ensure their public disclosure. On the basis of the monitoring carried out in the first months of 2013, ISS increased our Company’s Corporate Governance rating to 9.09 (90.94%) on a scale of 10. This high score earned yet again attests to the importance Vestel Group places on corporate governance and to its commitment to achieve further progress in this area. The efforts undertaken to further improve compliance with Corporate Governance Principles at Vestel Elektronik San. ve Tic. A.Ş. in 2012 are summarized below. • The Articles of Association were revised in parallel with the Capital Markets Board’s Corporate Governance Principles and submitted for the review of investors at the General Meeting for the year 2011. • Résumés of Board Members were included in the information document distributed prior to the General Meeting. The information document was shared with the general public four weeks before the General Meeting via the Public Disclosure Platform...
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...Question: Explain while judging the efficiency of any financial decisions requires the existence of a goal. Financial management is concerned with the acquisition, financing, and management of assets with some overall goal in mind. Thus, the decision function of management can be broken down into three major areas: The investment, financing, and asset management decisions. Investment Decision: The investment decision is the most important of the firm’s three major decisions. It begins with a determination of the total amount of assets needed to be held by the firm. Picture the firm’s balance sheet in your mind for a moment. Imagine liabilities and owners’ equity being listed on the right side of the firm’s balance sheet and its assets on the...
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................................................................................................ 3 LO 1.1: Briefly explain how the globalization has an impact on a national economy ......... 3 LO 1.2: Discuss the influence of international institutions. .................................................. 4 LO 1.3: Explain the role of European Union on Unilever, UK. ........................................... 6 LO 2.1: Explain the importance of having good Corporate Governance for the organization ............................................................................................................................................... 7 LO 2.2 & 2.3: Discuss what regulatory requirements exist in the country shaping the corporate governance practices of an organization and their role in ensuring corporate stakeholder’s interest. ............................................................................................................ 8 LO 3.1: Discuss the economics of adopting a policy of environmental awareness in organizations. ........................................................................................................................ 9 LO 3.2: Briefly explain the actions that need to be taken by the selected organizations to maintain the environment .................................................................................................... 10 LO...
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...these groups, there is one of the oldest cultures that date back to at least 50,000 years that is known as Aboriginal culture that comprises of practices and ceremonies of the indigenous Australians which due to its depth ,it do play a greater role in influencing the modern Australia. The impacts of social economics are on a deeper level on the indigenous people than it is on the no indigenous person I Australia which means which that Indigenous community my experience difficulties in trying co-exist with other communities and managing their local initiatives. It is witness as there are remote communities that have overcrowded households and lacking lots of basic amenities such a functional toilets, stoves and fridges.there is also a problem of mismanagement of funds due to financial low literacy, lack of back services, and demands to share resources. There is the need to understand how poor living conditions, poor education, poor education, loss of traditional roles and western culture impact impose limitations on the ability of indigenous people to engage in development. From its contribution to the modern communities, the government has to find and formulate policies promoting the social and economic development of the Aboriginal people. All these are with the aim of strengthening the government engagement and partnerships with the aboriginal people since the government is fully aware that without genuine engagement it would be difficult to see any policy succeed. The engagement...
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...In the context of IPE, what is globalisation? To what extent has the authority of nation states been eroded by globalisation? Discuss with reference to any OECD country. IPE and Globalisation In order to explain globalisation in the context of International Political Economy (IPE), I will begin by discussing the frameworks that IPE uses to describe the social constructs upon which human society is based. This discussion will then extend to issues pertinent to the essay question, including the concepts of globalisation, the nation state, authority and sovereignty, and the extent to which a nation state’s participation in a globally interdependent system influences that nation state’s authority. IPE connotes a multidisciplinary method of enquiry to explain the ever-changing relationships between states, markets and societies across history and in different geographical areas. IPE includes a political dimension that accounts for the use of power by a variety of actors including individuals, domestic groups, states, international organisations, NGO’s, and transnational corporations. IPE also involves an economic dimension that deals with how scarce resources are distributed among individuals, groups and nation-states. (Ballam and Dillman, 2011, p7) To place globalisation within the context of IPE, one must view the concept in terms of the causes and effects of the world market economy, the relationship between 2 economic and political change, and the significance...
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...of Reporting Practices Including Reporting of CSR Activities 12 * Part Two: Statement of the Problem Emphasis on Business Involvement in CSR Activities 15 Theoretical Discussion on CSR Practices 19 Why The Reporting Necessary in relation to CSR Practices 22 Standard of Listed companies in Bangladesh with Regard to Social Audit 23 * Part Three: Objectives, Scope & Methodology of the Study Objectives 26 Scope 27 Methodology 28 * Part Four: Findings of the Study Sample Enterprises 30 Areas of Social Responsibilities Discharged 33 Reporting Practices 36 Evaluation 37 * Part Five: Conclusion Summary of the Findings 39 Future Directions 40 References 42 Part one: Introduction A Brief Description of CSR Corporate social responsibility (CSR), also known as corporate responsibility, corporate citizenship, responsible business, sustainable responsible business (SRB), or corporate social performance, is a form of corporate self-regulation integrated into a business model. Ideally, CSR policy would function as a built-in, self-regulating mechanism whereby business would monitor and ensure its support to law, ethical standards, and international norms. Consequently, business would embrace responsibility for the impact of its activities on the environment...
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...September 2012 Original: Spanish/English SOCIAL CHARTER OF THE AMERICAS (Adopted at the second plenary session, held on June 4, 2012, and reviewed by the Style Committee) THE GENERAL ASSEMBLY, CONSIDERING that the Charter of the Organization of American States (OAS) provides that integral development encompasses the economic, social, educational, cultural, scientific, and technological fields through which the goals that each country sets for accomplishing it should be achieved; TAKING INTO ACCOUNT that the Inter-American Democratic Charter recognizes that democracy and social and economic development are interdependent and mutually reinforcing, and that promotion and observance of economic, social, and cultural rights are inherently linked to integral development, equitable economic growth, and the consolidation of democracy and the rule of law in the states of the Hemisphere; RECOGNIZING that social justice and equity are essential for democracy; CONSIDERING that the Charter of the OAS establishes among its essential purposes to eradicate extreme poverty; CONSIDERING AS WELL that extreme poverty constitutes an obstacle to development and, in particular, to the full democratic development of the peoples of the Hemisphere; and that its elimination is essential and constitutes a common and shared responsibility of the American states; REAFFIRMING the determination and commitment of member states to urgently...
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...Question 4 A. i) Ford Motor Company – www.corporate.ford.com ii) Vehicle sales iii) Target customers are viewed as anyone in the market for a new or used car. Ford develops target customer profiles based on various unique characteristics going beyond the norm of age, gender and income. This ensues they have a wide-ranging perspective on consumer trends and knowledge of how future choices are made by consumers. B. Ford’s business unit strategy would be differentiation. It states that Ford is focused on three strategic priorities including accelerating the pace of progress for their One Ford plan (one team, one plan, one goal), delivering product excellence with passion, and driving innovation in each part of their business. They fee, they are innovative and risk takers to a comfortable level. They consider themselves a technological leader and are always looking ahead and developing affordable, accessible solutions to help meet the needs of future transportation industry. C. Porter’s Five Forces Analysis Ford holds weekly business plan review meetings to review all elements of the business with senior management representing all business units. There are special review processes, scorecard reviews and general risk assessments done on a regular basis as well. New entrants This industry has a very high barrier to entry mark. There are substantial fixed costs, existing brand names, and dealership models nearly impossible to mimic, as with Ford, are highly recognizable...
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...ANALYSIS ............................................................................................ 9 1.1. Analysis of the political situation...................................................................... 9 1.2. Analysis of the economic situation.................................................................. 11 1.3. Trade structure ................................................................................................ 13 1.4. Analysis of social developments...................................................................... 14 1.5. Analysis of the environmental situation......................................................... 16 2. THE PHILIPPINES’ POLICY AGENDA ............................................................ 17 2.1. The Medium Term Philippine Development Plan ........................................ 17 2.2. Assessing the reform process .......................................................................... 17 2.3. Cross-cutting issues: human rights, gender, governance ............................. 19 3. OVERVIEW OF PAST AND ONGOING EC COOPERATION, COORDINATION AND COHERENCE ...................................................................... 20 3.1. Overview of past and ongoing EC cooperation............................................. 20 3.2. Lessons learned from past EC cooperation ................................................... 21 3.3. EU Member States’ & other donors’ programmes ...................................
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...legally enforceable. 2. Since the operations of multinational enterprises extend throughout the world, international co-operation in this field should extend to all countries. 3. A precise definition of multinational enterprises is not required for the purposes of the Guidelines. These usually comprise companies or other entities established in more than one country and so linked that they may co-ordinate their operations in various ways. While one or more of these entities may be able to exercise a significant influence over the activities of others, their degree of autonomy within the enterprise may vary widely from one multinational enterprise to another. II. General Policies Enterprises should: 1. Contribute to economic, social and environmental progress with a view to achieving sustainable development. 2. Respect the human rights of those affected by their activities consistent with the host government’s international obligations and commitments. 3. Encourage local capacity building through close co-operation with the local community, including...
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...s be Governance, Risk & Ethics Please spread the word about OpenTuition, so that all ACCA students can benefit. ONLY with your support can the site exist and continue to provide free study materials! Visit opentuition.com for the latest updates watch the free lectures that accompany these notes; attempt free tests online; get free tutor support, and much more. OpenTuition Lecture Notes can be downloaded FREE from http://opentuition.com Copyright belongs to OpenTuition.com - please do not support piracy by downloading from other websites. r The best things in life are free IMPORTANT!!! PLEASE READ CAREFULLY To benefit from these notes you must watch the free lectures on the OpenTuition website in which we explain and expand on the topics covered In addition question practice is vital!! You must obtain a current edition of a Revision / Exam Kit from one of the ACCA approved content providers they contain a great number of exam standard questions (and answers) to practice on. You should also use the free “Online Multiple Choice Tests” and the “Flashcards” which you can find on on the OpenTuition website. http://opentuition.com/acca/ December 2015 Examinations ACCA P1 1 Content 1. Corporate Governance 2. Approaches to Corporate Governance 11 3. The Board of Directors 19 4. Board committees 37 5. Corporate Governance and Corporate Social Responsibility 49 6. Corporate governance – control...
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...The objective of this study is to determine, from accounting perspective, the environmental consequences of the operations of oil and gas companies in the Niger-Delta region of Nigeria. The study was motivated by the curiosity to explain what goes on in the Niger-Delta region in the light of environmental degradation and the continuous agitation for a sustainable approach to corporate social responsibility (CSR). The study adopted the ex-post facto research design. Questionnaires were used to collect data from primary sources while relying on previous studies for secondary data. The Yaro Yamani sampling determination technique was applied to a sample size of 300 respondents drawn from a population of three million. Data collected were analysed...
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...Department of the Interior’s Indian Affairs, “67,456 Tribal members make up the 24 Tribes and the Ramah Navajo Chapter of the Navajo Nation under the Southwest Region” and the region spans over 7,600 square miles. The official Southwest Regional Office is headquartered in Albuquerque, New Mexico, and has nine agencies across New Mexico and Colorado (Southwest Region, n.d.). This region has many unique cultural features and unique issues that it faces. The art, religious practices, languages, and industries of the tribal Southwest are largely identifiable to the region and come with their own set of societal implications and histories. Moreover, this region faces several contemporary issues which are unique to the region, such as its specific environmental and economic struggles. Nation-wide issues that face Native American tribes are also seen in the Southwest, including the high suicide rates seen amongst tribal members. This issue is further amplified by the high suicide rates of the Southwest, including tribal and non-tribal people. In general, the Southwest Desert Tribes are a distinct tribal group, despite their tribal individualities. Tribal Facts The Apache are made up of multiple politically autonomous tribes. These include the Chiricahua, Jicarilla, Lipan, Mescalero, Mimbreo, Kiowa-Apache, Salinero, Plains, and Western Apache tribes (Indian Affairs, n.d.; Cordell, 1997, p. 20). Reservations of these tribes are headquartered in Arizona, New Mexico, Texas, and Oklahoma. The Apache...
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...Corporate Compliance Plan: Riordan Manufacturing Corporate governance can be thought of as the overall umbrella of control and direction under which a corporation operates. Enterprise Risk Management (ERM) is “a process, effected by an entity's board of directors, management and other personnel, applied in strategy setting and across the enterprise, designed to identify potential events that may affect the entity, and manage risks to be within its risk appetite and to provide reasonable assurance regarding the achievement of entity objectives,” (BusinessDictionary.com, 2008). Ideal management of risk involves mitigating negative risk while taking advantage of positive risk. The board of directors is responsible for establishing an enterprise risk management philosophy that guides senior management when implementing an enterprise risk management plan for the company. Internal controls are a subset of ERM. “Internal control is broadly defined as a process, effected by an entity's board of directors, management and other personnel, designed to provide reasonable assurance regarding the achievement of objectives in the following categories: effectiveness and efficiency of operations; reliability of financial reporting; compliance with applicable laws and regulations” (COSO, 2008). Internal controls assure accuracy of reporting of information and objectives. To develop a corporate compliance plan for Riordan Manufacturing, the three areas of concern should include the proposal...
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