served by the Public Spending Code. The Public Spending Code is the set of rules and procedures that apply to ensure that all existing standards are upheld among the Irish public service. All Irish public bodies are obliged to spend money with care and ensure that best value-for-money is obtained. Public Spending Code is structured by six parts. 1. The introduction – core principals of the code; 2. Part A – general provisions; 3. Part B - appraisal and planning; 4. Part C – the ongoing
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Executive summary Cash Flow Statement and Disclosure are potentially significant means for management to communicate company’s performance and governance to outside investors. Demand for Cash Flow Statement and disclosure arise from information asymmetry and agency problem between owners and management. The 1st chapter of this report is Introduction. It remain Origin of the project and thesis work, Background of the Report, Objective of the report, General objective, Project objective, Scopes,
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unable to pay back all the money it owes; in this situation, the liabilities of a firm supersede the assets leading to the inability to pay debts. MAINTENANCE OF CAPITAL RULE The concept was outlined in Trevor v Whitworth where the concept of share buyback by companies was held to be ultra vires, in support of the maintenance rule. In this case Lord Herschell stated that “the capital may, no doubt, be diminished by expenditure upon and reasonably incidental
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customers at prices that will provide an adequate return to its owners. 2 major goals of all businesses: 1. Profitability the ability to earn enough income to attract and hold investment capital. 2. Liquidity the ability to have enough cash to pay debts when they are due. All businesses pursue their goals by: * Operating activities: * - selling good / services to customers. * Employing managers / workers. * Buying / producing goods / services. * Paying taxes.
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“those with indirect financial interest” Users of Accounting Information Internal Users External Users With direct financial interest With indirect financial interest External Users of Accounting Information: “This group is made up anyone outside an organization that uses accounting information to make financial decision.” The external users would receive limited financial information from the target company, such as general purpose
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demand for a nation’s currency. * Factors causing fluctuations in exchange rates include: -Level of inflation -balance of payments -changes in interest rate -changes in investment levels -stability and process of governance Direct V.S. indirect exchange rates * The direct exchange rate (DER) is the number of local currency units (LCUs) needed to acquire one foreign currency unit (FCU). * From the
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highly ranked tennis player who would like to start a company to produce and market apparel she designs. She also expects to invest substantial amounts of money through Balik and Kiefer. DellaTorre is very bright, and she would like to understand in general terms what will happen to her money. Your boss has developed the following set of questions you must answer to explain the U.S. financial system to DellaTorre. a. Why is corporate finance important to all managers? Corporate finance enables managers
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Mini Case (p. 45) a. Why is corporate finance important to all managers? It is important because successful companies must not only be able to obtain high valued product and satisfy customers; they must be able to generate enough cash to compensate investors who provide the capital. Corporate finance helps to do this by giving managers tools to evaluate any proposal, such as marketing, production, and strategy and be able to implement only the projects that add value for the investors. b
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1. The characteristics of the corporate form of business. 2.About the term "cash dividend". Basic Accounting Equation Assets = Liabilities +Stockholders’ Equity * Investments by stockholders and revenues increase stockholders’ equity (credit). * Dividends and expenses decrease stockholder’s equity (debit). * The purpose of earning revenues is to benefit the stockholders. * The effect of debits and credits on revenue accounts is the same as their effect on stockholders’
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see that Product Costs are the sum of Prime costs and Overheads. Indirect Costs: Indirect costs are those costs that are incurred in the factory but that cannot be directly associate with manufacture. Again these costs are classified according to the three elements of cost, materials labour and overheads. • Indirect materials: Some costs that we have included as direct materials would be included here. • Indirect labour: Labour costs of people who are only indirectly associated with
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