Professor Emily King June 11, 2012 Accounting for Partnerships There are different types of businesses sole proprietorships, partnerships, limited partnerships, limited liability partnerships, and corporations to name the most common. Along with the different types of partnerships there are also different kinds of accounting procedures that go along with the different types of businesses. Along with the different types of accounting procedures there
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IMPORTANCE OF ETHICS Most of us would agree that it is ethics in practice that makes sense; just having it carefully drafted and redrafted in books may not serve the purpose. Of course all of us want businesses to be fair, clean and beneficial to the society. For that to happen, organizations need to abide by ethics or rule of law, engage themselves in fair practices and competition; all of which will benefit the consumer, the society and organization. Primarily it is the individual, the consumer
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Bankruptcy of a Retail Giant Blunders by former Chairman Charles Conaway and President Mark Schwartz led Kmart into bankruptcy. The retailer had to close 284 stores, including this one in Novi, and lay off 22,000 workers. They lived the good life of gated estates, a 47-foot yacht, corporate jets at their beck and call, and multiple pay hikes, perks, bonuses and loans. But even as Kmart Corp. struggled for survival, its chairman, Charles Conaway, and president, Mark Schwartz, wanted more, renegotiating
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Case 1 CEMEX: GLOBAL GROWTH THROUGH SUPERIOR INFORMATION CAPBILITIES 1. CEMEX is a cement company. What are the sources of competitive advantage in the cement industry? What is CEMEX's position in the global cement industry? First, the cement business is cyclical. The uncertainty of the number of demand and sales restricts a cement company to gain profits stably. Thus, the expansion of the scale of the company is very critical to enhance the competitiveness, especially the international
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Cooper Case 1. What is Cooper’s corporate strategy? How does it create value? What are its key resources? Response: What is Cooper’s corporate strategy? Cooper Industries is a broad company that uses the M&A strategy of diversification by acquiring companies that posses their own strong assets and exhibit stable earnings. As stated by the Corporate Role the company’s acquisitions had guidelines of companies that served a broad customer base, had stable earning and proven manufacturing
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Corporations and Stakeholders The problem to be investigated is the evolution of corporations and the effect on stakeholders. Corporations have existed in America since the seventeenth century. They have played an important role for centuries in Europe, even dating back to the Roman Empire (Beets, 2011). However, American corporations were built in an independent society that grew autonomously, with few limits. As a result, this type of stakeholder that supports or owns American corporations
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Corporate governance. 1. What is meant by the phrase ‘corporate governance’? 2. Albert Morris is chairman of a tool manufacturing company he set up thirty years ago and which is now quoted on the London Stock Exchange. Recently he said to his accountant; ‘This business is mine and I’ll run it as I like. My board of directors will do as I tell them, and I’ll not put up with interference from shareholders’. Discuss the legal and governance issues which may suggest that Mr. Morris
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TAX Expanding your horizons? A guide to setting up business across the Middle East and North Africa region KPMG E x p a n d i n g y o u r h o r i z o n s ? A guide to setting up business across the Middle East and North Africa region E x p a n d i n g y o u r h o r i z o n s ? A guide to setting up business across the Middle East and North Africa region Contents Pages Introduction 1 Algeria 3 Bahrain 8 Egypt 12 Iran 17 Jordan 20 Kuwait
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Question 1 Once the company is successfully registered, it becomes a separate legal entity which is different from its directors, owners, and shareholders. The company could have its own right and asset, and also property. Meanwhile, the money and resources of the company could only be used for business purpose. Even the directors can’t use the company’s asset for private uses. (Guides to obligations of proprietary limited companies 2012). According to the case, the four people want to establish
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As a former business owner (of an idea that didn't last long), I can tell you that ethics for me wasn't anything past my own level of sincerity and rapport that I would maintain with MY customer-base. To give you an idea of the realm of customer relation, your boss is the customer. Any rules set forth by a company, called "by-laws", are with the customer in mind. Any time a decision must be made, it is within the best interest of maintaining a solid reputation with said customer. ~~~~~~~~
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