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International Risk Management, 2004.
An analysis of financial risk management, with a focus on international markets.
939 words (approx. 3.8 pages), 3 sources, MLA, AU$ 40.95
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Abstract
This paper highlights key aspects of minimizing risk and maximizing profits, yet still engaging in fruitful and dynamic financial transactions. The paper contends that to minimize risk in financial markets on an international level, cooperation that crosses borders between business entities, is necessary. The paper explains that because of the obscure nature of the factors affecting currency exchange rates, in the form of politics, international economic business entities with mutual interests in financial stability must work together to minimize their own mutual risks regarding exchange rates, loans and currency values. The paper assesses that this is done by freely allowing for differentials in rates and disclosing all known information about their country's, company's and currency's financial health.
From the Paper
"No profit was ever made without taking some financial risk. However, economists such as John Eatwell and Lance Taylor have argued in their text Global Finance at Risk: The Case for International Regulation that international financial markets are intrinsically and particularly apt to pose the threat of risk to potential investors on an individual and a corporate level. Investors in finance base their decisions on guesses, not only about how other investors within a nation will behave, but also about national stability, which affects the stability of the currency. As markets have grown more global in scope, industrialized countries often have pursued a more cautious monetary policy regarding other nations."
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Mega-Mergers, 2004.
An extensive analysis on the merger and acquisition phenomenon in the financial services industry.
7,864 words (approx. 31.5 pages), 37 sources, MLA, AU$ 205.95
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Abstract
This study, while focusing on mega-mergers, examines the merger and acquisition phenomenon and proposes an explanation for the same. This research evaluates why stakeholders support mergers when the post mortem data suggest that most mergers are failures. Where applicable, the paper points to other industries that have parallel issues to the financial industry but the financial services industry seems to be ahead in the merger mania.
Table of Contents
CHAPTER ONE - Introduction
Statement of the Problem
Hypotheses
Purpose of the Study
CHAPTER TWO - Literature Review
Mergers on the Rise
Is There Actually a Problem?
Why We Undertake Mergers
Globalization
Deregulation
Technological Changes
Scale Economies
Mega-Mergers
Bank Mergers and Acquisitions
What Can Make Mergers Fail
What Happens When Mergers Fail
Definition of Terms
CHAPTER THREE - Methodology
Data Gathering Method
Limitations and Validity Issues
Validity of Data
Originality and Limitation of Data
References
From the Paper
"For various reasons, continuous growth is esteemed a desirable goal by company decision-makers. It seems to be very nearly a universal law that biological life begins to end when an organism's period of growth ends; it's all downhill from there. It follows that continuous growth will ensure a firm's eternal life. In other words, no firm can succumb to countervailing forces if it is always growing. Whether this is actually true is debatable; however, it seems true, and this is what makes it an important motivator for management. Growth itself can be undertaken not only for its own sake (the company should always be growing, no matter what) but also to solve certain business problems."
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Retirement Planning, 2004.
An analysis of the importance of financial planning for retirement.
1,567 words (approx. 6.3 pages), 4 sources, MLA, AU$ 62.95
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Abstract
This paper discusses the important issue of retirement planning. The paper claims that planning for retirement should begin as early as possible in life. It examines the necessity of setting goals and budgeting, as well as the crucial step of making investment choices. The paper acknowledges the difficulty in thinking ahead, but contends that the earlier the planning starts, the more comfortable the retirement will be.
From the Paper
"A comfortable retirement is a goal for most workers, but ensuring that comfort takes planning and foresight. Planning for retirement is much more complicated than opening a bank account or belonging to an employer-sponsored pension plan. While these are excellent beginnings, workers must plan for any and all events that can and will happen after retirement. Employees not only need to plan for retirement income, but they must also plan for the disposition of assets upon death. Employees need to decide where they will live after retirement, how tax matters with be handled, what insurance will be needed, and the list goes on. "
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Corporate Social Responsibility, 2005.
Uses the Enron case to examine the social responsibility of corporations.
2,000 words (approx. 8.0 pages), 11 sources, APA, AU$ 76.95
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Abstract
The case study is a close synopsis of the Enron case and its impact on consumers and corporate business practices alike. Prior to its collapse, Enron had been named one of America's top 10 admired corporations. Throughout the 1990s the company experienced tremendous growth and profits exceeding $180 billion, employing more than 30,000 people worldwide. Enron collapsed however and went bankrupt, a process that impacted stakeholders and resulted in numerous congressional investigations. This paper shows how the collapse of Enron wreaked havoc on the accounting industry like no other case in American history and called into question the adequacy of U.S. disclosure practices and the integrity of independent audit processes.
From the Paper
"The shareholders were very much affected by the Enron scandal. Ken Lay, the chief executive chairman of Enron profited off of shareholders by "pocketing millions of dollars from offloaded shares over the period of a few short years" (Veryard, 2004). Employees and other stakeholders in the company lost a majority of their life savings that had been allocated in Enron shares. People who had built up years of retirement funds found themselves without anything once the scandal broke. The moral injustice of the situation is inexcusable. "
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Accounting Ethics, 2005.
An examination of ethics and independence in the accounting profession.
1,420 words (approx. 5.7 pages), 5 sources, MLA, AU$ 57.95
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Abstract
There is no profession more profoundly impacted by the effects of ethical standards that the accounting profession. This paper examines how the effects of ethical and unethical behavior on independence and daily functioning are implicit in everything an individual in the accounting profession does. It also looks at how, due to recent scandals, there is a need for attention to ethical standards and training within the field of accounting.
Outline
Introduction
Analysis of Ethics in Accounting
Conclusions/Analysis
From the Paper
"Accountants in particular face many ethical dilemmas during the course of their career, and example of which is the client who threatens to seek a new auditor unless offered 'perks.' Accountants and other professionals within the accounting field are often in a position that allows a great deal of autonomy and independence, which also opens the door for increased temptation and the potential for unethical behavior. Accountants may act unethically for a variety of reasons, though as the text suggests many do so for personal benefit only or selfish reasons, which by nature is a product of natural human tendencies. "
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Banking, 2005.
A look at the various types of banks participating in the U.S. payment system.
3,357 words (approx. 13.4 pages), 7 sources, MLA, AU$ 114.95
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Abstract
This report focuses on the major economic and financial characteristics of Treasury Management, better known as the United States Payment System. The paper touches upon how the United States Payment System and the laws that governs this institution affects the life of every American citizen whether they have a bank account or not.
Introduction
What is the United States Payment System?
A Bank's Purpose
Past and Present
Check System
Types of Banks
Differences between Banks
Non-Banks
From the Paper
"These payment systems have bank participants, government securities settlement systems that are operated by the United States Federal Reserve System and a pair of principal clearing banks. The system also includes various clearing and settlement organizations for corporate and other types of securities. The United States Payment System requires well-functioning financial markets for its transaction flow and an extensive communications network. The communications and markets assure the system remains liquid and risk averse."
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Non-Profit Organizations, 2005.
This paper compares financial management in non-profit organizations and for-profit organizations.
2,905 words (approx. 11.6 pages), 11 sources, APA, AU$ 104.95
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Abstract
This page explains that non-profit organizations different from for-profit organizations in the way they manage their finances and provide their financial information to others because, rather than making a profit, they turn their money back into goods and services which help others, pay their employees and pay their operating expenses. The author points out five financial risks, which must be managed in a proactive manner by the board of directors. They are (1) the cost of lost opportunities, (2) financial crunches, (3) uncontrollable costs, (4) increased difficulty with recognizing revenues that meet forecasts and (5) the lack of a successful model for management. The paper stresses that the accounting differences between the two groups are (1) accounting for contributions, (2) capitalizing and depreciating assets, (3) functional expense classification and (4) use of both cash- and modified-cash basis accounting methods.
Table of Contents
Introduction
Literature Review
Analysis, Evaluation, and Critical Thinking
Summary, Conclusion, and Recommendations
From the Paper
"Nonprofit organizations often do not spend enough time dealing with financial issues because they are so focused on the mission that they are sworn to uphold. However, without paying attention to the financial issues as well, these organizations can run into real trouble. They need to orient themselves to the workings of their organization, financially, and they need to develop a budget that works well for all people involved and is realistic. Without a realistic budget, the organization will likely not succeed, because there will be constant struggle and upset regarding whether issues such as bills are dealt with efficiently and properly to ensure that the organization keeps running."
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Xerox Corporation, 2005.
This paper discusses the history and methods of Xerox Corporation's mergers and acquisition.
2,310 words (approx. 9.2 pages), 7 sources, MLA, AU$ 86.95
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Abstract
This paper explains that Xerox Corporation, incorporated in 1906 as Haloid Co., Haloid Xerox Inc. in 1958 and renamed again to its present name in 1961, has experienced numerous acquisitions during the last century. The author points out that because of Xerox's acquisition and spin-off policy, the company has devised several strategies for managing the numerous spin-off firms, which independently commercialized many of its technologies. The paper defines goodwill impairment as the difference between the book value of goodwill and the implied fair value of goodwill. It explains that unlike other assets, goodwill cannot be defined as a stand-alone asset and must be valued as a residual of all other assets; therefore, the estimation of goodwill impairment is not as simple as measuring the difference between market capitalization and net book value. Extensive Accounting Data in Appendix.
Table of Contents
Introduction
The Cost Method and the Equity Method
The Pooling-Of-Interests Method and the Purchase Method
Percentage of Ownership of Recently Acquired Subsidiary and Other Subsidiaries
Unconsolidated Subsidiaries
Non-controlling Interest on the Consolidated Balance Sheet and Income Statement
Goodwill Impairment
Summary and Conclusion
From the Paper
"The most important operations in the last 20 years were the acquisition of Kurzweil Computer Products Inc. (1980, about 85% of the shares), the sell of the defense and aerospace operations of Xerox Electro-Optical Systems to Loral Corp. for approximately $36,000,000, the acquisition by Xerox Financial Services, Inc., a subsidiary of Xerox Co., acquired Furman Selz Holding Corp. for approx. $110,000,000. The most recent operation is the sale of the company's ownership interest in ScanSoft, Inc. for approximately $80,000,000 in cash, in April 2004."
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Brealey and Myers' "Principles of Corporate Finance".
This paper discusses cost/benefit analysis, as presented in Brealey and Myers' "Principles of Corporate Finance".
765 words (approx. 3.1 pages), 0 sources, AU$ 33.95
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Abstract
This paper explains that, to use cost/benefit analysis, add up the value of the benefits of a course of action and subtract the associated costs.The author stresses there are times, such as sizing maintenance efforts or dissecting performance issues, when a cost/benefit analysis will not be informative or the right avenue to take for decision-making. The paper stresses that performance modifications may or may not have anything to do with functionality. Example.
From the Paper
"In its simplest form, cost/benefit analysis is applied only with financial costs and financial benefits. For instance, a simple cost/benefit analysis of revamping equipment in a factory would measure the cost of the update and subtract this from the economic benefit of making the changes. However, in a more complex analysis, there are intangibles that must be included such as the personal impact on the individuals who had a slowdown during the revamp and, on the other hand, worker satisfaction with the new approach that increased efficiency and stressed ergonomic factors."
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The Black-Scholes Formula, 2005.
An assessment of the impact of the stock-option plan set forth by Robert C. Merton and Myron S. Scholes.
3,000 words (approx. 12.0 pages), 9 sources, APA, AU$ 106.95
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Abstract
While the Financial Accounting Standards Board has favored expensing stock options since the mid-1990s, it has continued to allow businesses to recognize the expense in footnotes to financial statements as an alternate reporting method. Recent publicity around accounting fraud, executive abuses, "cooking the books," and other questionable business ethics has focused increasing attention on stock option plans in the United States. Prior to the introduction of the Black-Scholes formula, options investors determined a risk premium to hedge against major financial losses. According to the Black-Scholes formula, risk premiums are not necessary for investment in stock options because such premiums are already factored into the prices of stocks. This paper provides an overview of how the Black-Scholes formula can be used to help investors better understand the forces at play in making decisions about stock options, followed by a summary of the research in the conclusion.
From the Paper
"While Merton's research covered many areas of finance theory and economics, his innovations in option valuation has perhaps been his most influential to date (Bernstein, 2000). Prior to 1973, when Black and Scholes published their precedent-making formula, determining the value of stock options was considered extremely risky and highly difficult because of the nature of options, which are essentially agreements that give investors the right to either buy or sell an asset at some fixed time in the future (Crum & Goldberg, 1998)."
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Budgeting in England's Roman Catholic Dioceses, 2005.
An exploratory study on budgeting in the Roman Catholic dioceses of England.
4,500 words (approx. 18.0 pages), 24 sources, MLA, AU$ 141.95
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Abstract
Supporting the activities and operations of churches and religious organizations is a complicated and serious financial challenge. The activities of these organizations, combined with their limited financial resources, result in a need for careful attention to financial management. Further, as a result of occasional media reports of financial irregularities in some religious organizations, there is an increasing call for financial accountability in almost all organizations today. This paper shows that diocese members want to know, and have a right to know, how and where church funds are spent. Beyond accountability and financial reporting, there is a need for assistance in all aspects of financial management. The diocese, therefore, provides a unique environment in which to contextualize the study of accounting and budgeting. The paper shows that many dioceses are supported by professional accountants and bookkeepers, some as paid employees, others as volunteers. Because the number of clergy is decreasing, financial management functions are being spread thin, and there is less control; therefore, there will likely be increasing pressure from parishes for improved budgeting functions. The base of this research project is extended to all Roman Catholic Church dioceses in the United Kingdom, but concentrates on the budgeting process as it exists within a representative sampling of these religious organizations. Finally, this research project identifies who is involved in the budgeting process and whether structures interfere with budgetary process. An examination of how budgeting is done is followed by an assessment of its contribution in terms of population.
Table of Contents
Abstract
Review of the Relevant Literature
Methodology
Conclusion
From the Paper
"The first major component of internal accounting systems for management's use is the company's system for establishing budgetary plans and setting performance standards. The establishment of these performance standards also requires a company to develop a system for measuring actual results and reporting the differences between actual performance and the established standards. This budgeting process leads to the establishment of specific organizational plans which are then translated into action with varying degrees of efficiency. Statistical analysis, quality controls, and trended data are typically provided to management for assessment and determination of need for corrective action, or by preparing revised plans. While these plans can be either broad, strategic outlines of the company's future or specific and detailed schedules of the inputs and outputs associated with specific independent programs, most business plans are periodic plans; in other words, these plans refer to company operations for a specified period of time. It is these periodic plans which are summarized in a series of projected financial statements, or budgets (Shillinglaw 2004)."
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Accounting, 2004.
An experimental analysis of nontraditional business students and their perceptions of accounting in an introductory accounting course.
8,583 words (approx. 34.3 pages), 24 sources, MLA, AU$ 218.95
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Abstract
This paper examines and assesses the perceptions of nontraditional students, or adults, regarding accounting as a major field of study and a potential career choice. It is often assumed that nontraditional students are more motivated because of maturity, life experience, and the decision to study accounting based on work force experience. The paper presents a study of selected Christian university adult and graduate degree programs. In addition, the paper attempts to determine if there are any differences in attitudes, perceptions, and assessments of traditional and nontraditional students regarding this field of study.
Table of Contents
Chapter 1:
Introduction
Problem Background
Literature Review
Purpose of Study
Research Questions/Hypothesis
Limitations/Delimitations
Definitions
Importance of Study
Chapter 2: Review of literature
Chapter 3: Methodology
Introduction
Research Design
Selection of Participants
Instrumentation
Limitations or Assumptions
Procedures
Data Processing and Analysis
From the Paper
"Simply put, for many students, accounting is seen as too much work and very hard compared to other fields of study. The course of study for accounting majors has become more difficult in order to provide expanded coverage within the curriculum to achieve an increased degree of accounting competency. Professional accounting associations have become more concerned and have begun to address critical skills that are needed by accounting majors. The American Institute of Certified Public Accountants (AICPA) and the Institute of Management Accountants (IMA) issued documents in the early 1990s that aligned accounting curriculum more closely to actual accounting practices. This is one reason why the programs have study have become more demanding and stringent. There has been a definite impact on students' decisions to leave accounting as a major. It is one of the few disciplines that have undergone such scrutiny and policy changes regarding educational curriculum."
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Issues in Accounting.
This paper discusses revenue and expense recognition methods, both standard and percentage of completion criteria, and the pros and cons of expensing stock options.
930 words (approx. 3.7 pages), 4 sources, APA, AU$ 40.95
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Abstract
This paper explains that expenses are recognized in the same period in which the benefits derived from those costs are recognized (the matching principle) and, thus, recognition of expenses is dictated by revenue recognition; therefore, associations between revenues and costs must be established. The author points out the pros of expensing options include providing a level playing field so that companies, which use cash bonuses, and companies, which use stock options, each have an expense on the income statement; however, there are many significant challenges for a company that expenses options. The paper recommends that manufacturing companies use accrual basis accounting and follow GAAP guidelines for revenue and expense recognition and, with regards to expensing stock options, the company might explore the use of stock awards instead of stock options.
Table of Contents
Introduction
Revenue and Expense Recognition Methods
Expensing of Stock Options
Recommendations
From the Paper
"The revenue recognition and matching principles mentioned above are used under the accrual basis of accounting. Under cash-basis accounting, revenue is recorded only when cash is received, and expenses are recorded only when paid. However, GAAP requires accrual basis accounting because the cash basis often causes misleading financial statements. With accrual basis, revenue must be recognized in the accounting period in which it is earned, not just when money is exchanged."
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Accounting, 2004.
An analysis of various accounting principles.
1,532 words (approx. 6.1 pages), 7 sources, MLA, AU$ 60.95
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Abstract
This paper discusses each of the following terms, expands on the definition, and explains why the concept is important to financial statements. The terms include Generally Accepted Accounting Principles (GAAP), Historical Cost, Accrual Basis vs. Cash Basis Accounting, and Current Assets and Liabilities vs. Non-Current Items. The paper locates the balance sheet, income statement, and statement of cash flows for Ford, Exxon-Mobil, and Microsoft. The paper examines whether net income or cash from operating activities is more useful for each of these companies.
From the Paper
"The GAAP are not rules set in stone; rather, they are guidelines, or you might call them a group of objectives and conventions "that have evolved over time to govern how financial statements are prepared and presented," according to www.allbusiness.com. Theses principles are set by the Financial Accounting Standards Board (FASB), and the Securities and Exchange Commission (SEC) also provides input and guidance regarding the amendments to acceptable accounting practices. The GAAP serves as a guiding light for every business: when an accountant from outside the company is looking into its financial data and record-keeping, the company expects that accountant to be using GAAP. "Compliance with GAAP helps maintain creditability with creditors and stockholders," AllBusiness.com explains, "because it reassures outsiders that a company's financial reports accurately portray its financial position.""
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Balance of Payments, 2004.
An analysis of a country's balance of payments, with a focus on the United States.
2,019 words (approx. 8.1 pages), 11 sources, MLA, AU$ 76.95
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Abstract
This paper presents a brief explanation of what a country's balance of payments is and the main elements of the balance of payments. The paper discusses the links between a country's balance of payments and its rate of economic growth, as well as the links between a country's balance of payments and the exchange rate of its currency. The paper analyzes the main reasons for the United States' balance of payments deficits over the past five years and examines the effects of these deficits upon the economy.
From the Paper
"Currently, the U.S. in 2004 maintains a deficit in merchandise trade and the absence of strong net investment income inflows, a current account deficit. This has occurred for some time, but before these deficits were of not much concern, as they were theoretically and comfortably offset by the current account surpluses, such as the purchase of U.S. assets by foreign individuals and institutions. The result was such that net flow of receipts and payments was in balance, allowing for statistical discrepancy, without the need to any type of official transfers. (Ruby, 1999) But concern in light of the continuation of this state of affairs, combined with a weakened U.S. dollar has grown and the widening deficit reveals US continued and more sustained reliance on foreign cash than previously thought. (J Hughes, Financial Times, 15 September 2004) "
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Perry Ellis International, Inc..
This paper is a financial analysis of the Perry Ellis International, Inc., an apparel company in the United States.
2,300 words (approx. 9.2 pages), 3 sources, APA, AU$ 84.95
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Abstract
This paper explains that the portfolio of Perry Ellis International, Inc. includes men's and women's brands, which it designs, sources, markets, and licenses nationally and internationally at multiple price points and across all major levels of retail distribution. The author points out that during the fiscal year ended January 31, 2004, approximately 91% of the company's net sales were from branded products The company owns 13 and licenses five brands, such as Perry Ellis, Jantzen, Munsingwear, and Manhattan; has developed over 42 sub-brands, such as Perry Ellis Portfolio and Penguin Sport; and distributes the PING, Nike, Tommy Hilfiger, NAUTICA ,and Ocean Pacific brands under license arrangements. The paper reports that, for 2005, Perry Ellis expects to report record revenue and net income; earnings per fully diluted share are projected in the $2.10-$2.20 per fully diluted share range, below their previous guidance of $2.35. Tables and graph.
Table of Contents
Executive Summary
Background
Current Status of Perry Ellis (2004)
Perry Ellis 1999-2004
Total Revenues
Royalty Income
Cost of Sales
Gross Profit
Selling, General and Administrative Expenses
Depreciation and Amortization
Interest Expense
Long-Term Debt
Future Positioning
Perry Ellis Income Statement
From the Paper
"Perry Ellis' President acknowledged disappointment in the swimwear business for 2004, but plans to take actions such as a rationalization of product offering, changes in sourcing and overhead expense structure and a significant reduction in inventory levels. Perry Ellis intends that those measures will position the company for a profitable swimwear line in fiscal 2006. Perry Ellis predicts that the menswear brands, especially Perry Ellis, Original Penguin, Cubavera, PING, and PGA Tour will achieve record sales with a continuing momentum to continue into next year."
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