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Evaluating Business Stability, 2005.
This paper lists and defines many accounting ratios that are used to evaluate a company's stability.
1,255 words (approx. 5.0 pages), 4 sources, APA, AU$ 66.95
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Abstract
This paper explains that stability measures the long-term health of a business by using ratio analysis to interpret the financial position of any business; while ratios can be used to set targets and to measure performance, they are by no means foolproof. The author, as an example, defines the 'Acid Test' ratio as 'Cash and Near Cash' divided by 'Current Liabilities', which measures the ability to meet current debt and is a stringent test since it discounts the value of inventories; the rule of thumb is 1-to-1 with a lower ratio indicates illiquidity and a higher ratio may imply unused funds. The paper relates that the Sharpe Ratio, which is based on a risk-adjusted measure developed by Nobel Laureate William Sharpe, calculates using standard deviation and excess return to determine reward per unit of risk.
From the Paper
"The P/E looks at the relationship between the stock price and the company's earnings. The P/E is the most popular metric of stock analysis. The P/E gives you an idea of what the market is willing to pay for the company's earnings. The higher the P/E the more the market is willing to pay for the company's earnings. A low P/E may indicate a "vote of no confidence" by the market or it could mean this is a sleeper that the market has overlooked. What is a desirable P/E? It all depends on the investors' willingness to pay for earnings. The more they are willing to pay in the belief that the company has good long term prospects over and above its current position, the higher the right P/E is for that particular stock."
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Sage 2000 Accounting Pack, 2006.
Describes the set up, use and features of a specialized business accounting system known as the Sage 2000 Accounting Pack.
1,619 words (approx. 6.5 pages), 4 sources, MLA, AU$ 82.95
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Abstract
In addition to describing the benefits of the Sage 2000 Accounting Pack in comparison with other business accounting packs, this paper also describes how the software is set up and used, its special features and its ability to expand with a business as it grows.
From the Paper
"One can walk into any computer sales shop and find shelf after shelf of different accounting programs to accomplish general accounting procedures for the small business. The prices of these products range widely according to the complexity of the software system. The installation or setup of this type software automatically becomes one's ultimate responsibility upon breaking the seal on the packaging and this can become quite an entangled situation for the not too computer literate. Therefore, most of these systems, some quite good for what they accomplish, for our purposes shall be left in the "buyer beware," category along with the recommendation for bypassing them altogether."
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The History of Accounting, 2006.
A comprehensive history of accounting in America.
1,855 words (approx. 7.4 pages), 1 source, MLA, AU$ 93.95
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Abstract
The author introduces the topic by discussing the modern day needs of society to have accountants and how their importance is often overlooked. He then recounts the earliest known form of accounting and how it has developed over the years, stating many examples of where it is necessary to have good accounting skills and how these skills were developed. The paper concludes with what the future can bring for the accounting world.
From the Paper
"Methods of accountancy were somewhat modernized during the Renaissance in Italy, where Arabic numerals had been introduced long before for financial purposes; Luca Pacioli's Summa de Arithmetica, Geometria, Proportioni et Proportionalita (1494)
is viewed as a crucial work in determining the course of Renaissance, and eventually modern, accounting. While Benedetto Cotrugli had invented the double-entry system of accounting before the publication of the Summa, Pacioli's methods greatly expanded on these ideas, containing 36 chapters on bookkeeping and earning the rare distinction of publication. "
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Derivative Securities, 2006.
An overview of derivative securities, what they are, their purpose and the financial disaster they can bring if not managed properly.
1,668 words (approx. 6.7 pages), 6 sources, MLA, AU$ 85.95
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Abstract
This paper begins with a brief explanation of what derivative securities are and what purpose they serve. Next, the paper briefly explains how derivative activity level can be monitored and then takes a look at the derivative disasters that befell the Baring Brothers of London and the local government of the city of Orange County. The paper explains that these disasters were a result of careless strategies with derivatives and examines the lessons learned from these two disasters. Finally, the paper suggests measures that can be taken to prevent such disasters from happening again.
From the Paper
"A Derivative is a contractual relationship established by two (or more) parties where payment is based on (or "derived" from) some agreed upon benchmark. Derivatives are risk-shifting devices. They are most frequently used to reduce exposure to changed in foreign exchange rates, interest rates, or stock indexes."
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Traditional Cost Accounting vs. Activity Based Costing, 2006.
This paper examines the pros and cons of two specific cost accounting systems: Traditional cost accounting (TCA) and activity based costing (ABC).
1,725 words (approx. 6.9 pages), 9 sources, MLA, AU$ 87.95
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Abstract
The writer of this paper stresses that the purpose of any cost accounting system is to provide current information about the total cost of manufacturing a product or performing a service. This paper analyzes in detail the strengths and weaknesses of traditional cost accounting (TCA) and activity base costing (ABC). TCA is a well developed method of estimating cost incurred while the ABC system is based on costs which are driven by factors other than product volume.
From the Paper
"A problem may arise in the use of actual overhead costs. The problem stems from the fact that many of the elements of manufacturing are fixed costs, rather than variable costs. Fixed costs are those that tend to remain relatively constant from month to month. Examples of fixed overhead costs include the monthly salary paid to plant managers, depreciation, property taxes, and insurance on plant assets."
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U.S. and International Accounting, 2006.
This paper explores and evaluates the impact of international and U.S. accounting practices as well as the effectiveness of The International Accounting Standards Committee.
1,320 words (approx. 5.3 pages), 5 sources, APA, AU$ 70.95
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Abstract
The author explains why standardization in global markets must occur which will result in increased international investments. This paper examines the different accounting methods and theories in various countries and compares them to the U.S. accounting system. The author goes on to rationalize that to maintain a semblance of order and understanding, there has been a constant effort to come up with a harmonious "language" and set of standards that would cover all the nations involved in the economies of the world.
From the Paper
"The two major reasons that standardization must occur is the increased amounts of international investments, and global financial markets. This is a far more intricate movement than a company's moving production to a "sweat-shop economy". We are now seeing joint ventures, mergers and acquisitions, as companies position themselves for the 21st Century, including the new "euro" currency for the European union, and the problems which need to be handled in South East Asia, as well as the opportunities looming in China, which still has its Most Favored Nations Status, thus encouraging American firms to invest, create joint ventures, and even build their Sino-American subsidiary plants and distribution centers. So, as an example, how is accounting to be handled in such cases? Through American or Chinese accounting methods? The simplistic answer, of course, is to create a unified system."
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Four Publicly-Traded Companies, 2006.
This paper uses the prospectus and the quarterly and annual financial statements of each company as required by Security and Exchange Commission (SEC) to compare four publicly-traded companies: Bausch & Lomb, PepsiCo, The Gillette Co and Brush-Wellman.
1,170 words (approx. 4.7 pages), 0 sources, AU$ 63.95
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Abstract
This paper explains that publicly-traded companies, by law and in compliance with the Security and Exchange Commission (SEC), must submit financial statements to the SEC and to their shareholders in accordance with Standard Accounting Practices and Auditing Procedures dictated by standards established by the American Institute of Certified Public Accountants. The author points out that PepsiCo and the Gillette Company present different reporting styles; although both meet and far exceed all reporting requirements, the Gillette Company "plays it very close to the vest" by restricting the distribution of their data concerning their operations such as presenting their "Costs of Goods Sold" figures as muddled as they can keep them legally. The paper concludes that the consensus from this analysis of these four companies is that their current ratio trends should continue over the next two to four years, with the possible exception of Bausch & Lomb, which must address its stiff competition or continue to suffer the company's downward trend.
From the Paper
"Bausch & Lomb publish their Returns on Equity, a dismal 6.4%, and 43.86% below the Industry Average. In addition, their published Returns on Assets also are dismal at 2.1%, and 56.25% below the Industry Average, with their Returns on Inventory Costs equally bad at 4.7%, and 37.33% below Industry Average. This company is the only one of the four to publish data usable to calculate these returns. All three of the others do not publish the information; for security reasons, both government enforced and self imposed therefore these numbers are impossible to compute for them in any comparative format."
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International Accounting, 2005.
This paper explains the function of accounting as international business continues to grow rapidly.
3,305 words (approx. 13.2 pages), 11 sources, MLA, AU$ 148.95
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Abstract
This paper explains that international trade is complicated by the various currencies which are used in the world's marketplace, because, whenever an entity buys from a foreign supplier or sells goods to a foreign customer, the parties involved must agree on the currency to be used to settle the transaction. The author points out that the biggest problem is the inability to "interpret" financial statements from foreign countries properly because the standards in each country vary and they cannot be merely equated with domestic standards and regulations. The paper relates that, to attempt to maintain a semblance of order and understanding, there has been a constant effort, especially since the formation of the International Accounting Standards Committee (IASC) in 1973, to establish a harmonious "language" and set of standards, which would cover all the nations involved in the economies of the globe.
Table of Contents
Overview
The Needs and Opportunities for International Harmonization
G-22
IOSCO
Conclusions
From the Paper
"Given the differences and the need to develop a harmonious system of accounting standards, why is it not happening, at a time when joint ventures and buy-outs by the wealthier nations of industries in the hard-hit lands (Thailand and Mailaysia) This question can be asked again and again, and different versions may appear in this essay, but no one has an adequate answer. It is not asking a total revolutionary upheaval of financial or accounting practices. Still, many national accounting associations want to be the one making some sort of "sacrifice", It is a source of national pride, rather than a globalizing opportunity. However, there are groups, made up of international financial and accounting leaders, who want to make at least some progress."
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Taxation, 2006.
A review of Daniel Altman's article which looks at the proposal to replace income tax with a national sales tax.
1,784 words (approx. 7.1 pages), 5 sources, MLA, AU$ 90.95
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Abstract
This paper examines the argument put forth by Daniel Altman, concerning the abolition of income tax, in his article "What If a Sales Tax Were the Only Tax?". The paper considers Altman's article, which analyzes Representative Joe Linder's proposal to replace the income tax with a national sales tax and discusses Altman's point that such a proposal cannot be undertaken in such a simple a manner as Linder makes it sound.
From the Paper
"Altman makes something of the same point when he notes that one advantage left to the national sales tax would be to serve the interests of the White House in creating an "ownership society" by chipping away at taxes on financial income and wealth. Altman suggests that this would mean that high-earning people would have to work harder to shift their income to nontaxed sources, though it is not clear why this would be so or that it would do more than slow down the process, not end it."
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Tax Case Study, 2006.
A summary of a tax law case initiated by Allied Signal Inc. against the State of New Jersey Department of Taxation.
1,911 words (approx. 7.6 pages), 4 sources, MLA, AU$ 96.95
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Abstract
This paper summarizes and analyzes a case of Tax Law involving the State of New Jersey, Department of Taxation, The State of New Jersey Court and the State of New Jersey Supreme Court verses Allied Signal, Inc., as Successor In Interest to the Bendix Corporation. The paper explains the core issue of the case and the rulings of the State of New Jersey Court and the State of New Jersey Supreme Court. The paper also discusses points of technical interest of the case and opinions of individual Justices of the Court who presided over the case.
From the Paper
"The State Court of New Jersey upheld the Director, Division of Taxation in the dispute whereupon it was appealed to the Appellate Court of State of New Jersey. The Appellate Court of New Jersey upheld the ruling of the lower Court whereupon the case was granted appeal to The Supreme Court of the State of New Jersey. The Supreme Court of the State of New Jersey upheld both the Appellate and lower Court whereupon Allied Signal wound the case through the Federal Tax Courts all the way to the Supreme Court of the United States."
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Capital Asset Pricing Model, 2006.
An essay explaining the capital asset pricing model.
1,311 words (approx. 5.2 pages), 4 sources, MLA, AU$ 70.95
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Abstract
This paper tells us that the asset pricing model evaluates a stock's rate of return based on a specific formula. The formula, rate of return = risk free interest rate + Beta x 8.7, is then explained by the paper.
From the Paper
"1.A project cost $100,000 and offers you a beta-of-two expected return of $150,000 in one year; risk premium = 8.5%; the "Wall Street Journal" reports that the riskless rate is 5.0%; the appropriate discount factor is thus 22%; 150,000/(1.22) = $123,000 (approximately) - thus the project has a net present value of $23,000."
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Activity Based Costing, 2005.
An overview of activity based cost accounting and its benefits.
5,246 words (approx. 21.0 pages), 5 sources, MLA, AU$ 204.95
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Abstract
Activity Based Costing or (ABC), although not a completely new discipline within the accounting profession, is rapidly becoming one of the most popular avenues of study for business majors in the academic world. The paper shows that ABC is full of benefits, with few limiting factors and perhaps the fastest growing phase of accountancy in the world today. The spread of ABC into the European Union alone is creating fierce competition between U. S., British and German companies and foreign organizations for persons willing to go into the lucrative field.
This paper centers on ABC itself and does not go into comparative methodologies with older forms of Cost Accounting.
Paper Outline:
An Introduction to ABC
What is ABC and How Does it Work?
ABC: An Overview
Cost Drivers
ABC and the Dept. of Defense
ABC - The Navy Way
The Implementation Starting Point
Dept. of Defense - Final Recommendations for Implementation
Expanding the Concept - Another Success Story
16,000 Ideas for Change in 2 Months
Yet Another Success Story on a Grander Scale
Conclusions and Recommendations
Bibliography
From the Paper
"Early in 1994, Texas Commerce Bank launched a reengineering effort, called "Process Improvement," which included every organizational process and all 9,000 employees. Not only was the level of involvement unique, the bank structured and implemented "Process Improvement," without outside consultants. There were several goals of the program including, removing all employee frustrations associated with cumbersome policies, processes, services, or products; streamlining processes to improve quality and delivering improved service to customers and eliminating unnecessary expense."
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Revenue Recognition, 2005.
This paper discusses problems of revenue recognition, the major single entity in financial statements.
1,660 words (approx. 6.6 pages), 5 sources, MLA, AU$ 84.95
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Abstract
This paper explains that, since no broad norms on revenue recognition exist, there is a considerable gap between the broad conceptual guidance in the Financial Accounting Standard Board - FASB Concepts Statements and the exhaustive guidance in the authoritative literature. The author points out that more than 50% of the frauds in financial reporting among the U.S. public companies involve overstating the revenue. The paper stresses that, because users in this modern era want instantaneous data in formats which permit rapid access and analysis to assist in the better decisions; companies require trustworthy on-line, real-time reporting that is characterized by (i) dependable systems (ii) usual methods of disseminating information. (iii) corporate accountability, inclusive of management integrity and concrete enterprise risk management and (iv) comprehensible disclosures and information.
Table of Contents
Current Issues and Actions Related to Revenue Recognition
Working Norms for Recognition of Revenues
Definition of Revenues
Problems Related to Revenue Recognition
My Thoughts and Opinions
Control Environment
Matters Needing Special Consideration
From the Paper
"As regards the items which must be included or excluded from the description of revenues, a consensus was made that - (i) a reporting body must not recognize revenues for the performance by third parties of its responsibility to work or extend services to customers in case those responsibilities are officially assumed by those third parties. (ii) In case of all other situations, a reporting body must recognize revenues for the performance by third parties of its responsibility to do work. (iii) Production will result in effecting a component of wide-ranging income. (iv) Non-reciprocal transfers received must not be excluded from revenues and must not be shown as a distinct line item in the income statement. (v) A reporting body must at the introductory stages measure its obligations for performance guarantees at their fair values and must recognize revenues as a result of their satisfactory performance or completion of those guarantees."
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Macroeconomics, 2005.
This paper explains several macroeconomics terms such as "national accounts" and "aggregate income and output".
920 words (approx. 3.7 pages), 4 sources, MLA, AU$ 51.95
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Abstract
This paper explains that Expenditure is directly proportional to Output, which in turn is directly proportional to Income. The author points out that GDP is the market value of all the final goods and services, which are produced in the nation during a particular year, but does not include production overseas by U.S. companies, although it includes the production facilities in U.S. by overseas companies operating in the U.S. such as the Toyota Motors. The paper relates that Aggregate Output is the total quantity of output, which is produced and supplied in a particular duration; Aggregate Income is the total amount of income, which is received by all the factors of production within an economy during a given period.
Table of Content
Key Features of National Accounts
Income Method
Output method
Expenditure method
Aggregate Income and Aggregate Output
From the Paper
"At this point, it is pertinent to explore briefly into the total system of national accounts and specifically at the financial linkages between the various sectors of the economy. For the purpose of building the national accounts, the economy has been subdivided into four basic sectors. These are the (a) Personal Sector - which primarily constitutes the household sector (b) Corporate sector - comprising of Companies and Financial Institutions - F.I.s and the public corporations (c) General Government sector - comprising of Central and Local Government authorities (d) Foreign sector - that comprises of all individuals, firms and government bodies outside USA. In case of each of these sectors, there is the identical set of basic accounts that keep an account of all the receipts and outflow of that sector regardless of they being factor incomes, transfers, taxes, current or capital expenditures."
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Prime Rates, 2004.
An analysis of the role of prime rates within the worldwide banking systems.
2,491 words (approx. 10.0 pages), 5 sources, MLA, AU$ 118.95
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Abstract
This paper contends that although prime rates, prime lending rates and prime interest rates are but small tools within the worldwide banking systems they do offer the ultimate objective of capital account convertibility. However, the paper explains that the study of these rates throughout the worldwide banking systems must be undertaken from an historical perspective. The paper states that when this is accomplished one readily observes that these rates, however stated, affect almost every living creature in the world.
Outline
Thesis Statement
The Fundamentals of Prime Rates
The Basics
The History of Interest
Conclusions
From the Paper
"With the ultimate objective of capital account convertibility in mind, prime rates should be to deepen and integrate financial markets, raise access to global savings, discipline domestic policies and policy makers, and furthermore allow greater freedom for individual decision-making. The theoretical framework underlying the use of prime rates is spelled out primarily by nations, banking institutions both global and national, so that monetarists can presume that restraining fiscal deficit and the money supply shall result in several controls, inflation and recession being chief among them. This, of course, is a much more easily stated theory than practical application Worldwide can and does incorporate throughout the various economies of the World. "
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Company Cash, 2006.
A look at the importance of a positive cash flow for a company.
1,241 words (approx. 5.0 pages), 2 sources, MLA, AU$ 66.95
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Abstract
This paper examines why a company needs to have a good cash flow. It explains that to protect themselves from risk, businesses can use a wide range of sources of funds in order for them to be able to finance their trading activities. Although not all of them are in cash, the paper explains that they have the effect of improving cash flow on both short and long term; most sources of capital take the form of assets used by companies in order for them to function.
From the Paper
"Budgeting is the process through which the resources and responsibilities of each center of activity are set. The budget is the prediction of the resources and expenses required in order for the objectives of the corporation to be fulfilled, respecting certain profitability conditions. The starting point may be last year's budget or, in some cases, Zero Budgeting may be employed (starting from scratch). Budgeting greatly increases the cash flow, if used correctly.
Manpower management is also an important method of improving cash flow. For instance, some workers do not require permanent contracts, work can be subcontracted or transferred to temporarily contracted workers, which has the effect of reducing expenses with pensions, insurance, holiday pay etc."
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