| Papers [593-608] of 839 :: [Page 38 of 53] | | Go to page : <— 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 —> | |
|
|
Dana Corporation Capital Structure, 2004.
Provides insight into and an analysis of Dana Corporation's capital structure.
1,181 words (approx. 4.7 pages), 5 sources, APA, AU$ 59.95
»
Click here to show/hide summary
Abstract
This report attempts provides insight into Dana Corporation?s capital structure. The paper focuses on identifying the company's book value, market value, and the levered value. The report then demonstrates, through a quantitative analysis, what a twenty percent increase in assets will do for Dana Corporation, and assumptions are made to recommend an optimal capital structure mix. The analysis incorporates an estimation of Dana Corp's cost of capital, price per share, and the overall market value of the firm.
From the Paper
"The relationship of the stockholder's equity to total liabilities has been shown to be the most significant indicator of a company's solvency because it provides the ratio of capital provided by the stockholders as compared to capital provided through creditors. The information obtained through the analysis in this report provides answers to the ever important question of whether or not a company should issue stock or carry debt. Unsophisticated investors often wonder why a company would purposely carry debt and one excellent motivation derived from the Modigliani-Miller (M&M) model demonstrates that debt can and often is used as a shield against taxes. If a company like Dana decides, therefore, to carry debt, the tax shield would be used to lower overall costs. The next idea then is for a company like Dana to obtain an ideal or optimal mix between debt and equity."
| |
|
Mass Marketed Tax Schemes, 2004.
This paper examines the effectiveness of anti-avoidance provisions in dealing with mass-marketed tax schemes.
2,753 words (approx. 11.0 pages), 36 sources, MLA, AU$ 120.95
»
Click here to show/hide summary
Abstract
In recent decades, mass-marketed tax schemes have been the subject of great attention by the Taxation Office, Federal Parliament, as well as investors, advisors and promoters of such schemes. The papers lists the several reasons for such attention, which include the negative effect such schemes are having on the Australian tax base, the method of financing involved, as well as increasing costs for administering such schemes. Further, in terms of the individual investors in these schemes, unexpected exposure to interest and penalties on any resulting unpaid tax has also been under the spotlight.
From the Paper
"Before we begin, it is important to define mass-marketed tax schemes. Unlike some other schemes that can be ascribed as ?boutique?/ ?one-off? arrangements tailored for high income or high wealth individuals and large corporate entities, mass-marketed tax schemes are more generic arrangements and products marketed widely to taxpayers from different economic backgrounds . Mass-marketed tax schemes include employee benefit trusts, agricultural schemes with round robin and limited recourse funding, and certain film schemes with guaranteed returns that are, in effect, a return of part of the invested funds."
| |
|
Ethics in Accounting, 2004.
A brief discussion of the issues of ethics in accounting relating to the Worldcom scandal.
760 words (approx. 3.0 pages), 2 sources, APA, AU$ 40.95
»
Click here to show/hide summary
Abstract
This paper reviews an article on the WorldCom scandal, and discusses how this article relates to 7-Eleven Inc. Also, based on the article, the paper discusses recommendations for improving accounting procedures at 7-Eleven, and explains the importance of ethics in accounting.
From the Paper
"An article written by William Thomas and Thomas Morris discusses the Enron and WorlCom accounting scandals. In April of 2002, internal auditors discovered a $9 billion fraud. Unlike Enron, WorlCom has improperly reported capitalized expenses (Thomas and Morris). This was the largest amount of accounting fraud in U.S. history. Former CFO Scott Sullivan, who was the ?chief architect of the fraud,? pleads innocent to the original charges. Arthur Andersen was the accounting firm that was involved in both of these accounting scandals. This indiscretion caused the stock market to plummet, and many people lost thousands of dollars. Executives profited from this accounting fraud. The revelation of accounting fraud sent shockwaves through the investment community. Thousands of people lost much of their lives? savings in these accounting scandals. The devastation of this fraud caused President Bush to take a tough stance on corporate fraud."
| |
|
Ethics in Accounting, 2004.
A brief discussion of the issues of ethics in accounting relating to the Worldcom scandal.
760 words (approx. 3.0 pages), 2 sources, APA, AU$ 40.95
»
Click here to show/hide summary
Abstract
This paper reviews an article on the WorldCom scandal and discusses how this article relates to 7-Eleven Inc. Also, based on the article, the paper discusses recommendations for improving accounting procedures at 7-Eleven and explains the importance of ethics in accounting.
From the Paper
"An article written by William Thomas and Thomas Morris discusses the Enron and WorlCom accounting scandals. In April of 2002, internal auditors discovered a $9 billion fraud. Unlike Enron, WorlCom has improperly reported capitalized expenses (Thomas and Morris). This was the largest amount of accounting fraud in U.S. history. Former CFO Scott Sullivan, who was the ?chief architect of the fraud,? pleads innocent to the original charges. Arthur Andersen was the accounting firm that was involved in both of these accounting scandals. This indiscretion caused the stock market to plummet, and many people lost thousands of dollars. Executives profited from this accounting fraud. The revelation of accounting fraud sent shockwaves through the investment community. Thousands of people lost much of their lives? savings in these accounting scandals. The devastation of this fraud caused President Bush to take a tough stance on corporate fraud."
| |
|
The 2002 Sarbanes-Oxley Act, 2004.
This discusses the Sarbanes-Oxley Act, which was created to make companies more accountable.
935 words (approx. 3.7 pages), 4 sources, APA, AU$ 49.95
»
Click here to show/hide summary
Abstract
This paper explains that the Sarbanes-Oxley Act (July 2002) is a weak attempt by Congress and the Securities and Exchange Commission to make meaningful changes in the oversight of public companies. The paper relates that the future of the accounting profession will be different under the Sarbanes-Oxley Act because auditors will report to an audit committee, not management; auditors will no longer be allowed to offer many non-audit services to the client; and the lead audit partner and audit review partner must be rotated every five years. The author has serious reservations regarding whether or not Sarbanes-Oxley does enough to change the underlying root cause of accounting irregularities and believes that more research is needed.
From the Paper
"Although many department chiefs already are stepping up Sarbanes-Oxley Act compliance activity throughout their organization, most say they feel like they are just going through motions. And, few finance executives believe Sarbanes will do much to restore investor confidence. In a PricewaterhouseCoopers survey, eighty-four percent of executives reported that Sarbanes has changed control and compliance practices at their companies?though not significantly. And, more than half contend the new law simply formalizes what their company had been already doing anyway."
| |
|
Andersen and Enron: A Question of Ethics, 2004.
Discusses the ethical issues surrounding an accounting firm working as a consultant for the company it audits.
1,110 words (approx. 4.4 pages), 6 sources, MLA, AU$ 56.95
»
Click here to show/hide summary
Abstract
Accounting firm Arthur Andersen's recent involvement in the spectacular Enron scandal has raised a number of questions about whether accounting firms should act as consultants for the same companies that they audit. Clearly, Andersen?s experience shows that is difficult, if not impossible, for an accounting company to avoid conflict-of-interest issues when acting as both a consultant and auditor for a single company. This paper paper shows that the conflict of interest is only one of the serious ethical issues faced by the business world in the past years. As such, clients and investors are becoming increasingly aware of ethical issues, a situation that makes reform in the accounting industry a necessity to ensure public confidence in the integrity of the accounting profession.
From the Paper
"In examining only the behavior of Arthur Andersen, we run the real risk of losing sight of the larger ethical issues that are involved in the Enron fiasco. The behavior of both Arthur Anderson and Enron executives showed a shocking disregard for personal ethics, as well as professional standards, and corporate ethics. Jennifer Beever notes that the business world has responded by taking a renewed interest in the study of ethics. This is a marked difference previous standards of proper business behavior that adhered most strongly to the pursuit of self-interest (Beever)."
| |
|
Economic Value Added, 2004.
This paper discusses the concept of Economic Value Added (EVA), invented and promoted by Stern Stewart & Co..
1,285 words (approx. 5.1 pages), 1 source, MLA, AU$ 63.95
»
Click here to show/hide summary
Abstract
This paper relates that Economic Value Added (EVA) may truly be considered the new "hottest thing" in accounting theory because it aims at eliminating the problems accounting faces today by incorporated the concept of a ?true economic profit? into accounting and bookkeeping. The author points out that one of the errors accountants usually make, which leads to distorted reporting of a company?s earnings, is the fact that equity capital is not taken into consideration as a cost. The paper stresses that stock options grants are an expense and that stock options are a form of compensation, which should be expensed as exercise rights vest.
Table of Contents
The Cost of Equity Capital
Operating vs. Financing Decisions
Pension Plan Accounting
Full Cost Accounting
Stock Options
From the Paper
"Stewart suggests that the pension cost (which is to be determined) should be calculated as the difference between the service cost on one side and the difference between the fund return and the liability interest. The fund return is determined as the return on a portfolio of bonds of similar characteristics with the pension fund, so that in the end the return on the fund and the liability interest will cancel one another. In this way, the pension cost will be equal to its service cost."
| |
|
Federal Bankruptcy Law, 2004.
An overview of the procedure used to file for bankruptcy and the importance of professionals in the process.
2,270 words (approx. 9.1 pages), 8 sources, MLA, AU$ 103.95
»
Click here to show/hide summary
Abstract
Bankruptcy is not an easy process, and the average individual does not possess the knowledge to enter into proceedings on his or her own. The paper argues that professionals should always be consulted as they can determine which bankruptcy is appropriate or whether bankruptcy is necessary at all. The paper also looks at the bankruptcy court, which has been established to protect and assist individuals, companies, and corporations in their proceedings.
Paper Outline
A. Federal Bankruptcy Code
a. Explanation of the Origin
b. Federal Bankruptcy Law
c. Jurisdiction of Courts
B. Chapter 7 Liquidation Bankruptcy
a. Procedure
i. Filing a Petition
ii. Meeting of Creditors
iii. Appointment of Trustee
iv. Proof of Claims
b. Automatic Stay
c. Case Dismissal
d. Alternatives to Chapter 7 Bankruptcy
e. Discharge
C. Chapter 11 Reorganization Bankruptcy
a. Why choose Chapter 11
b. Plan of Reorganization
i. Who develops the Plan
ii. Steps in the Plan
c. Discharge
D. Chapter 13 Consumer Debt Adjustment
a. Chapter 13 Eligibility
b. Important Features
c. Filing
d. Automatic Stay
e. Plan of Payment
f. Confirmation of the Plan
g. Discharge
E. Chapter 13 or Chapter 7
F. Rights of Creditors
G. Conclusion
From the Paper
"If you are living with little income and property you may be ?judgment proof?. Basically creditors cannot collect because you have nothing for them to legally take. Taking advantage of federal and state debt collection laws that protect a debtor from abusive conduct may stop harassment from creditors. Possibly, a debtor may negotiate with creditors and buy enough time to get back on his or her feet. Creditors may also agree to settle debts for less than is owed. Debtors may seek help from outside sources such as Consumer Credit Counseling Service. Finally, a debtor may pay over time with a Chapter 13 proceeding, which will be discussed in a later section."
| |
|
Death and Taxes, 2003.
Describes the history of taxation in the United States.
782 words (approx. 3.1 pages), 2 sources, APA, AU$ 40.95
»
Click here to show/hide summary
Abstract
This paper describes and details the introduction and history of taxes in America. The paper talks about the inception of taxes, their changes over the years, and the current situation of taxation.
From the Paper
"Taxes come in all shapes and forms. From federal to state, sales to excise- almost every purchase or monetary movement has some form of taxation assessed to it. This taxation hasn?t always been so. In the beginning mankind wasn?t taxed- we went about our business and everyone left us alone. However, with the advent of government and then the struggle for power resulting in war, taxes became a prevalent means of raising the funding that the government required to pursue war. Taxes were first introduced in the form of ?low tariffs and customs duties on a wide range of goods that produced revenue easily? (PBS par 9). This did not fair well with the lower part of the income earning population ?as the "have nots" - or ordinary citizens - realized that these tariffs - that is, taxes on imported goods - were forcing them to pay higher prices, and they pushed for a tax on the wealthy? (PBS par 10). And poof- their wish was granted and income taxes were instituted."
| |
|
Milton Friedman?s "Money Mischief", 2004.
Summary and review of economist Milton Friedman's "Money Mischief".
1,830 words (approx. 7.3 pages), 1 source, MLA, AU$ 85.95
»
Click here to show/hide summary
Abstract
This paper summarizes Milton Friedman's explanation about how ?money?, or currency, works and how it is widely accepted as a means for exchange for goods and services. The paper also looks at Friedman's discussion of different types of currencies, how government can increase the currency in order to allow greater government spending, and the switch from the gold standard to a currency directly connected to a commodity.
From the Paper
"Many different items have been used as ?money? or currency throughout history. From trading items for goods and services to exchanging beads, metals, or paper money these are all forms of currency. Currency can be anything that carries a certain value to make it worth exchanging. In Germany Milton Friedman expresses an instance in which he traded cigarettes for the sale of gasoline (Friedman 13). Friedman brings this to life from an interesting perspective through the Island of Stone Monkey. The Caroline Islands in Micronesia were laid claim to by the Germans? as one of their colonies 1899. The island of Uap had a population of five to six thousand natives and was the wealthiest island of the group. The used a stone as their currency called ?fei.? The stone was limestone brought from an island some four hundred miles away."
| |
|
Interest Rate Risk, 2004.
Examines the negative aspects of interest rate shifts for banking institutions.
1,231 words (approx. 4.9 pages), 3 sources, MLA, AU$ 60.95
»
Click here to show/hide summary
Abstract
Interest rate risk is included in the larger category of market risk, to which a bank, like any financial institution, is subject. A move in any such risk can result in profit or loss for the bank, however; this paper deals with the loss aspects correlated with risk. The paper discusses concepts such as Value-at-Risk, structural interest rate risk, and the GAP technique.
From the Paper
"A technique of managing interest rate risk that has been used for some time now is the GAP technique or the GAP model. This derives its name from the difference (gap) between the asset value and liabilities value that is at the center of this model. Thus, the GAP model takes into consideration the assets sensitive to interest rate risk and the liabilities sensitive to interest rate risk and calculates the difference between the two. The bank must supply the length of time over which the analysis is to be done (usually one year), a certain interest rate forecast for the period of time over which the analysis is done and a decision whether to preserve the current net interest income or attempt to improve it."
| |
|
Sarbanes-Oxley Act, 2004.
Examines this law, which was passed in response to unethical business practices in the United States.
1,252 words (approx. 5.0 pages), 4 sources, MLA, AU$ 62.95
»
Click here to show/hide summary
Abstract
The Sarbanes-Oxley Act was signed into law on July 29, 2002. It was the U.S. government?s response to the questionable business practices of a number of corporate executives, which caused across-the-board declines in the value of stock in publicly-traded companies during the summer of 2002. The passage of the Act has been heralded by some as an historic occasion, some calling it a long overdue corporate reform package, while others have severely criticized the Act as an unnecessary overreaction by the government. This paper discusses the business conditions that prompted the passage of the Act, the accounting problems that made the Act necessary, the advantages and disadvantages of the Act, and the effect of the Act on the future of the accounting profession.
From the Paper
"The Corporate Sector in the United States is already sufficiently regulated. Further regulation goes against the principles of a free market economy that is one of the basic principles of the country?s economy. What was needed in the wake of bankruptcy scandals was stricter enforcement of the existing laws rather than creating new ones.
The Act was a knee-jerk reaction to the accounting scandals in a tiny percentage of businesses. The new reporting requirements of Sarbanes-Oxley will divert the attentions of managements and boards of directors to self-protection away from the business purposes of companies."
| |
|
International Fashion Industry Accounting Practices, 2004.
This paper compares the accounting and operation funding practices of three international companies in the fashion industry: GAP-U.S.A.; H&M, a Swedish company; and Benetton, an Italian company.
1,880 words (approx. 7.5 pages), 4 sources, MLA, AU$ 88.95
»
Click here to show/hide summary
Abstract
This paper explains that, examining the accounting measures and practices of each of these companies, both the American and European companies have a bottom-line concept of accounting that is represented by the basic accounting principle of 'assets=liabilities + equity'. The author points out that, in the United States, laws require a financial statement unless a company is traded on the stock exchange; in Europe, companies, which have only debt securities listed on the EU regulated markets, and which have securities listed on the non-EU markets, are required to prepare consolidated accounts according to internationally recognized standards. The paper demonstrates the difference in international reporting practices, which make comparison almost impossible; with globalization, these differing practices must be standardized.
From the Paper
"Any company financial statement includes some basic information; a balance sheet, income statement, cash flow statement and financial statement notes, which explain any irregularities or noteworthy numbers. The United States has been lobbying to create a standardized representation of these numbers to create a level playing field when it comes to comparing financials. Although, Europe is slightly behind in this endeavor, they are also moving towards the concept of standardization."
| |
|
Investment and Innovation, 2004.
An analysis of the danger of 'short-termism' with respect to investment and innovation.
2,360 words (approx. 9.4 pages), 6 sources, MLA, AU$ 106.95
»
Click here to show/hide summary
Abstract
This paper examines how, all through the 80s and 90s, the American industrialists have been under the criticism that they have been too short-sighted in their investment ventures, thereby creating a 'short-termism' and valuing present returns over future profits. It examines how these industrial leaders are less inclined to use investment strategies that involve substantial growth durations ahead of a stream of future realizable earnings. It also discusses how these progressive or inventive investments are what businesses require to keep their competitive positions on the international front, in addition to a nationwide economy that upholds and improves the living standards of people.
From the Paper
"Much fundamental to understanding the issue of short termism is a comprehension of the situations underneath which business ventures practice inventive investment plans in addition to the situations in which investments in innovation are profitable. The difference amid long termism and the short termism is in fact a difference amid innovative investment plans that involve a growth stage ahead of producing returns and adaptive venture plans that bring in the returns on earlier ventures. In order to comprehend corporate investment actions and economic functioning, we need to first make clear what comes across at some point in the innovation progression that in the end give way to the returns that make up investments in innovation valuable."
| |
|
The Rise and Fall of Arthur Andersen, 2004.
An overview of the success and failure of this accounting firm.
1,671 words (approx. 6.7 pages), 5 sources, MLA, AU$ 79.95
»
Click here to show/hide summary
Abstract
In recent years, the standards of the accounting profession have been a subject of great scrutiny. The boom of the 90s changed the business environment tremendously. Financial scandals and out-of-hand executives required the reshaping of the accounting industry. This paper shows that at the forefront of all this is the once-famous accounting firm of Arthur Andersen. The paper examines the history and success story of this firm and then examines the issues surrounding the charges of unethical practise.
Paper Outline
Company Background
The Rise of Arthur Andersen
Implications of the Fall of Arthur Andersen
The Fall of Arthur Andersen
After Enron, WorldCom, and the Fall of Arthur Andersen
Bibliography
From the Paper
"In 1997, Andersen paid $7 million to settle fraud allegations arising from an audit of Waste Management Inc. Another whopping $24 million was paid in settlement over allegations that Andersen misrepresented the financial health of American Continental Corp. and its subsidiaries bases in Arizona. On top of that, Andersen was also under investigation by Arizona officials for repeatedly ignoring information that the Baptist Foundation of Arizona was defrauding its customers. After years of clean audits, the foundation was exposed as a multi-million dollar fraud."
| |
|
CVS: Financial Statement, 2004.
A comprehensive financial statement analysis of this retail company.
1,339 words (approx. 5.4 pages), 2 sources, MLA, AU$ 65.95
»
Click here to show/hide summary
Abstract
CVS is a retail corporation that sells prescription drugs and general merchandise products. This paper presents an overview of the company, including its corporate structure and history. The paper then discusses CVS's strategic goals and objectives, including its impressive community involvement plan. Finally, the paper concludes with overall highlights of the company's operations before providing financial statements for both CVS and its prime competitor, Walgreen's.
From the Paper
"CVS has also improved its company strength from all areas of the business. Most notable is the operating income increased from $700 million in 2001 to $1.2 billion in 2002, return on equity increased from nine percent in 2001 to 13 percent in 2002, and return on assets increased from five percent in 2001 to almost eight percent in 2002. This reflects the strong growth from the company, improving their inventory controls, expanding into new markets, opening new stores in existing market areas and marketing to the baby boomers, which is the largest user group in the U.S."
|
|
|
