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Cash and Accrual Accounting, 2005.
This paper discusses two basic methods of accounting, cash and accrual and describes differences in managing these methods.
930 words (approx. 3.7 pages), 6 sources, APA, AU$ 54.95
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Abstract
This paper explains that, in cash basis or cash accounting, businesses record transactions only if they involve the payment or receipt of cash, which does a poor job of matching revenues earned with money laid out for expenses. The author points out that, in accrual accounting, the economic impact of a transaction is recorded whether or not the transaction involves cash, which does a better job of matching revenues with expenses and of handling items such as property and equipment. The paper relates that the four statements used in the accrual method accounting are the balance sheet, the income statement, the statement of cash flows and the statement of stockholders' equity.
From the Paper
"An example would be a purchase of supplies in July but the supplies are not sold until August. You receive the cash in August. However, when the books are closed all you have to show for July is an expense for supplies but no revenue to offset it, meaning there is a loss for that month. This can make it difficult for a business to determine whether or not it is earning a profit because all its business activity does not always fall on the same month. It also has trouble tracking anything other than cash. For example if you purchased equipment or property the cash method of accounting would show the purchase and disbursement in the month of purchase. These items, however, will be used over a period of time."
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Indian Oil Corporation, Ltd., 2006.
This paper is an analytical review of the financial results for the year ending March 31, 2005 and its financial position, as of that date, for the Indian Oil Corporation, Ltd. (IOC) in India.
3,570 words (approx. 14.3 pages), 7 sources, MLA, AU$ 159.95
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Abstract
This paper explains that Indian Oil Corporation Ltd (IOC) is the flag-ship national oil company of India, which sells cooking gas, petrol and diesel through retail stations and aviation fuel, and includes a subsidiary, IBP Co. Ltd., as a stand-alone marketing company with a nationwide network. The author points out problems with the investment ratios; earnings per share (EPS) and dividend per share (DPS) have dropped during 2004 and 2005 because of the reduction in profits during these years. The paper concludes that some of the risk factors, which will significantly influence IOC's ability to sustain its strong profitability and financial position in the future, are its huge borrowings from various banks and fluctuating fuel prices; however, the author recommends investment in the company because it has the potential to grow and the present financial downstream is mainly due to some situations, which are now under recoveries, and other specific bank borrowings. Many charts. Illustrations. Attractive presentation.
Table of Contents
Aim and Objective
Review Highlights
Company Profile
Financial Overview
Financial Performance
Key Financial Indicators (Ratio Analysis)
Profitability
Liquidity
Current Ratio and Quick Ratio
D/E
Interest Coverage Ratio
Efficiency
Receivable Collection Period
Payable Period
Stock Turnover Period
Operating Cycle
Rate of Return Ratios
Return on Total Assets (ROTA)
Return on Capital Employed (ROCE)
Return on Fixed Assets (ROFA)
Return on Working Capital (ROWC
Investment ratios
Earnings per Share (EPS) and Dividend per Share (DPS)
Dividend Yield
Dividend Payout Percentage
Price / Earnings Ratio (P/E Ratio)
Cash Flow Analysis
Critical Review of Key Accounting Policies
Foreign Currency and Derivative Transactions
Fixed Assets and Depreciation
Provision on Capital Account
Goodwill Amortization
Review of Financial Reporting Standards
Information Accompanying Financial Statements
Operating Performance Review
Marketing
Proactively Addressing Environmental Issues
Corporate Governance
Inter-Industry Comparison
Leverage
Profitability
Rate of Return
Efficiency Ratios
Investment Ratios
Market Perception and Future Outlook
Outlook for IOC
Conclusion
Index
From the Paper
"IOC's consolidated audited financials as at 31.03.2005 was audited by a group of certified auditors from the Institute of Chartered Accountants, India, which is in accordance with Accounting Standard (AS-21) and the financial statements of joint ventures have been combined by applying proportionate consolidation method in accordance with Accounting Standard (AS-27) on "Financial Reporting of Interests in Joint Ventures" issued by the Institute of Chartered Accountants of India."
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| Essay # 64857 |
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Financial Analysis and Improvement Model, 2005.
Presents a model for measuring the financial health of companies using ratios, accounting analysis and industry benchmarking.
4,311 words (approx. 17.2 pages), 6 sources, APA, AU$ 183.95
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Abstract
This paper presents a methodology for evaluating the financial health of a company and provides a model for determining and recommending corrective actions to management. Key profitability, asset management, liquidity and debt management ratios are analyzed. Financial performance is compared to industry and bench-marked to the industry leader. Free cash flow is calculated and analyzed. Improvement recommendations to management are made based on the analysis. Using the recommendations a pro forma income statement and balance sheet is prepared for the upcoming fiscal year.
From the Paper
"The inventory turnover ratio shows how many times that inventory are sold during the year (Downes & Goodman, 1998, p. 294). The turnover ratio is slightly below the industry and the Leader Corporation. The company is carrying excessive inventory, which costs money that could be used elsewhere (p. 294). Management should evaluate the inventory control process. Minimizing inventory can reduce storage costs (warehousing) and protect the firm from falling prices (p. 294). These cost reductions will further enhance profitability. The inventory turnover ratio is projected to climb to over 13 % in 2004. This is primarily due to the reduction in inventory (loss). Management should manage the reduction in inventory gradually starting in 2002, this will allow some of the inventory to be sold vs. discarded as planned."
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Profit, 2004.
An analysis of the definition of profit measurement.
1,564 words (approx. 6.3 pages), 5 sources, MLA, AU$ 82.95
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Abstract
This paper considers the development of the accounting concept of profit. The paper considers the methods of measuring profit under various accounting systems and also analyses how profit is reported under GAAP.
Outline
Introduction
Profit Defined
Capital Maintenance
Determining Profit
Historical Cost Accounting
Current Cost Accounting
Reporting Profit
Conclusion
From the Paper
"The second measure of capital maintenance is maintenance of physical capital. This measure was born of the belief that there were inherent shortcomings in historical cost accounting and its objective of maintaining money capital. Instead, maintaining intact a monetary measure of wealth, this measure seeks to maintain the operating capacity of the firm, or the purchasing power of its wealth. Maintenance of physical capital is the objective in accounting systems using current costs (Henderson et al., p. 85-7)."
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Bonds and Shares, 2005.
An overview of the advantages and disadvantages in investing in bonds and shares.
1,308 words (approx. 5.2 pages), 17 sources, MLA, AU$ 71.95
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Abstract
Investors require a return to compensate for any uncertainty associated with cash flows associated with investment. This paper examines how, in the world of investment, all investors walk the line between greed and fear and how stocks and bonds are suitable investments for most individuals.
Outline
Advantages of Buying Different Types of Bonds
Rate of Return of the Bonds
Risk of Bonds
Interest Rates and Bonds
From the Paper
"Most investors want to earn the highest possible yield and growth rate with the lowest possible risk. But maximum profit and low risk are not compatible attributes. As a bond investor, they must be aware of relationship between the risk and potential reward, or opportunity. Risk in its many forms will determine whether an investment is appropriate or not and will it earn the yield you wanted. The different kinds of bond risk are: (1) interest rate risk, (2) default risk, (3) business risk, (4) marketability risk, (5) inflation risk, and (6) event risk."
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The Employee Retirement Income Security Act of 1974 (ERISA), 2006.
A look at ERISA and the rules it provides for retirement plans offered by employees.
3,159 words (approx. 12.6 pages), 4 sources, APA, AU$ 147.95
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Abstract
This paper discusses some differences between defined contribution and defined benefit retirement plans; the differences between 401 (k) and 403 (b) plans; the fiduciary requirements imposed by ERISA; and the non-discrimination rules imposed by ERISA.
From the Paper
"Although maximum percentage of compensation limits have now been eliminated for benefits under defined benefit plans, maximum dollar limits have not. These limits typically affect only a few employees, but applying them can be an issue given typical constitutional restrictions on modifying benefit formulas for existing employees."
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Enron, 2005.
An overview of the build up to the Enron scandal.
1,857 words (approx. 7.4 pages), 7 sources, MLA, AU$ 95.95
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Abstract
This paper briefly looks at the history of the formation of Enron and the management style of the company. It looks at how the stock holders were of great importance of how they trusted the accounting firm appointed by them to audit their stocks. The collapse of Enron following the accounting scandal is then discussed.
From the Paper
"In the years after the Enron scandal, bookkeeping has taken a hard hit. Financial statements' creation and analysis has begun to be called into question. In today's society in which the distance between auditors and corporations has decreased so much, there needs to be more regulation. "The SEC has proposed stronger oversight of auditors' objectivity. Bolstering accounting coverage for innovative transactions is likely on the way. Mandating rotation of external auditors is also being considered" (Tannenbaum, 64). All of these are works in progress, but there is chance that they may be implemented in the future."
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The Efficiency Wage, 2004.
This paper analyses the practice of some firms to pay a wage above the market clearing wage level called the efficiency wage.
1,920 words (approx. 7.7 pages), 7 sources, APA, AU$ 98.95
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Abstract
This paper explains that some firms, especially in third world economies, will attempt to increase their profits by improving their worker productivity by paying a wage that is above the wage paid by other competing firms because, at the market level wage, workers may not get the necessary nutrients they require in order to carry out the working day's hard labor and to maintain a healthy lifestyle. The author points out that the ability of a firm to increase profits by setting these wages may not necessarily apply in other more industrialized labor markets where there is not a strong correlation between worker productivity and their nutritional intake. The paper relates that the efficiency wage model indicates that the behavior of a firm seeking to increase its profits is no longer limited to just decisions on how many workers to hire.
From the Paper
"It has been mentioned once before in this essay that efficiency wages may not necessarily hold true in today's modern, industrialized economies. However, there is empirical evidence that efficiency can hold true in an industrialized setting and not just in a subsistence one. If this is the case, then the economic rationale behind firm's setting wages above the market clearing wage, is a sound rationale. There is evidence that shirking-related employee problems are reduced when companies pay higher salaries. A study of large manufacturing companies in the United States shows that fewer workers are dismissed for disciplinary reasons when a firm pays a high rate of wage. In particular, a 10 percent increase in the wage reduced the rate at which workers were dismissed for disciplinary reasons . Hence, the economic rationale behind firms setting an efficiency wage is very plausible indeed, as back by empirical research such as this."
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Fannie Mae Scandal and Corporate Governance, 2004.
Details the recent corporate governance scandal at Fannie Mae and the changes in corporate governance that were made as a result.
3,000 words (approx. 12.0 pages), 18 sources, MLA, AU$ 142.95
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Abstract
The Federal National Mortgage Association or Fannie Mae, a government chartered company, provides mortgages for low-incomes persons. Following an introduction, this paper provides information about Fannie Mae, including background information on the corporate governance scandal where top executives manipulated accounting to hit targets and receive lucrative bonuses. Thirdly, recent changes in corporate governance including the Sarbanes Oxley Act are discussed. Additionally some recommended changes in corporate governance at Fannie Mae are included.
Paper Outline:
Introduction
Background of Fannie Mae Scandal
Issue
Recent Changes in Corporate Governance Which May Help Elevate Problems
Recommended Changes in Corporate Governance for Fannie Mae
Conclusion
References
From the Paper
"Corporate governance, or the way a company is managed, can make or break that company as well as affect lenders, stockholders, and the market as a whole. Corporate governance is best defined as the means by which stockholders ensure that officers and directors will act in the best interest of the corporation instead of in their own best interest. Corporations set up a board of directors and appoint officers to run the company, although the true owners of the company are the stockholders whose money is at stake. It is the officers which play a substantial role in determining whether or not stockholders get a return on their investment. Stockholders entrust the officers to do what is right for the company as well as keep them informed of the financial state of the company through proper reporting. Although the corporation has significant control over the reporting process, there are strict rules which it is required to follow. Sometimes, however, accounting principles are violated by corporate officers in order to increase their own compensation in the form of bonuses".
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Equity: Equitable Doctrines, 2005.
An analysis of to what extent the Courts are willing to overlook equitable maxims in order to achieve practical justice.
3,825 words (approx. 15.3 pages), 6 sources, APA, AU$ 167.95
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Abstract
This paper endeavours to establish whether six influential judicial decisions have extended orthodox equitable principles as an effort of achieving practical justice. The maxims of equity are closely adhered to as its principles are reflected and upheld via a strong body of case law. It looks at how, despite equity's tendencies of protecting their maxims as a means of providing a flexible alternative to the common law, some modern judicial activists as well as academics have sought to expand, and at times overlook the nexus of equitable principles in order to achieve practical justice.
Outline
Introduction
The Impact of Six Influential Judicial Decisions
From the Paper
"Equally, the growing significance the utilitarian application of trusts for commercial purposes have implied a more modernised approach of trusts law. Consequently, this essay will also examine whether equity has departed from its traditionally devised means of providing trusts over land and over the family home to become a method of aiding and protecting many commercial dealings. Indeed, it may be argued that orthodox principles of equity are aptly suited to the historical applications of trusts in the context of family settlements, however lack real significance in the modern world of commerce and forms of increasingly complex trusts."
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Accounting for Managers, 2004.
An analysis of the necessity of easy-to-understand financial statements.
1,129 words (approx. 4.5 pages), 3 sources, MLA, AU$ 63.95
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Abstract
This paper discusses the view that it is impossible to satisfy the needs of different users with a single set of published accounts. The paper contends that without standards, users of financial statements would need to learn the accounting rules of each company and comparisons between companies would be difficult.
From the Paper
"The Accounting Standards Board was working for some time to produce a definite Statement of Principles for financial reporting. The statement of Principles is a description of the fundamental approach that the ABS believes, should, in principle, underpin the financial statements of profit orientated entities. The Statement is intended to be a comprehensive and reasonably detailed description of that approach, and the approach itself is intended to be internally consistent, up to date and in line with the approached adopted elsewhere in the world. (ABS 1999)"
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Accounting for Managers, 2005.
A look at company budgeting processes and their importance.
932 words (approx. 3.7 pages), 3 sources, MLA, AU$ 54.95
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Abstract
This paper discusses the importance of the budgeting process to the success of an organization and explains that while the implementation and operation of systems of budgeting and budgetary control are very time consuming, if done properly it is time well spent.
From the Paper
"A budget is a financial or quantitative plan of operations for a forthcoming accounting period. Planning and budgeting are critical mechanisms of any organization because they are a means of translating
strategy into a consistent set of plans and points as well as a basis for objective assessment and alignment. Most of the organizations are controlled by a lack of resources. Government and private industry alike must decide in which activities to participate, and how much money should be allocated to those activities. In order to make these determinations, the annual budget is developed. Developed for individual departments, divisions, subsidiaries and the company as whole, budgets enable organizations to distribute resources across alternative uses."
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Control and Trust, 2005.
A look at the definition of control and trust and how they work in managing uncertainty within organizations.
2,750 words (approx. 11.0 pages), 24 sources, MLA, AU$ 132.95
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Abstract
Trust has been proposed as an alternative and more appropriate way to controlling uncertainties under the emergence of new developing economies and the shift from traditional national markets to global markets. This paper attempts to outline the definition of control and trust and how they are seen as useful tools in managing uncertainty that stems from the agency problem within the organization. It also addresses the likely problems that are caused when managing new organizational forms using a traditional management accounting system.
From the Paper
"There are a variety of ways to categorize and conceptualize control systems: formal versus informal controls, behavior versus outcome controls; mechanistic versus organic controls; bureaucratic versus social controls. However, with regards to formal designed controls, some researchers make a distinction between outcome controls and behavior controls (Ouchi, et al, 1979) Performance measurement is one of the techniques used as an outcome controls measure and to monitor the outputs of operations or behaviors. Whereas behavior controls, such as rules and standard operating procedures, are being utilized to specify and monitor individuals' behaviors (Ouchi, et al, 1979)."
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Aggressive Pricing, 2005.
A look at the use of aggressive pricing within the toy market.
1,801 words (approx. 7.2 pages), 6 sources, APA, AU$ 92.95
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Abstract
This paper covers the pricing of toys to secure the top market position and uses Wal-Mart, Toys "R" Us and Kaybee Toys to compare different pricing strategies. It looks at several different ways marketers set a specific price for a certain product and market group and how they maintain this area. Finally it discusses Wal-Mart's market in toys to see why the most popular toy item projects them as a loss leader and why they choose this avenue.
From the Paper
"In 2003 if you took a snap shot of the toy market you would have seen that Toys 'R' Us had the biggest market hold on the toy market. This is the year that Wal-Mart turn to their price cutting method use to draw in customers. They did this in the most simplest of ways...slashing their prices so that people couldn't pass up the good deals. I know I didn't pass up they deals. I haven't shopped at Toys-R-Us in quite a few years! They have almost created a dependency. They tactic was to use Toys-R-Us as the price marker and use them as the bar to set their prices and in most cases they were substantially cheap than the toy giant. Since the majority of the shoppers at Wal-Mart are in there because they want a bargain this only made sense. In most cases one could save up to 6 dollars when purchasing a single item. "
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Being a CFO, 2005.
A personal investigation about what it takes to be a CFO.
1,393 words (approx. 5.6 pages), 4 sources, APA, AU$ 74.95
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Abstract
This paper covers the complexity of being a modern chief financial officer in a large company. The paper takes a look at what governs the CFO in business today and examines whether or not the writer would want to be a CFO.
From the Paper
"After looking through the article "The CFO's Great Balancing act" I would have to express the opinion that it would a lot more difficult to be a CFO in today's market. Many factors play a role in a company's financial position. Today the amount of pressure placed on generating a profit has really escalated. It appears at no time would a CFO be able to predict exactly what's expected of them since the market keeps generating new desires. In this paper, we will cover some of the difficulties placed on the modern CFO and analyze some possible hurdles they might have to overcome to meet the CEO's demands and look at what laws or Acts that have been put in place to help govern their responsibilities."
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