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Case Study: Pfizer Enterprise Risk Management, 2008.
Looks at enterprise risk management (ERM) at Pfizer from the viewpoint of the Sarbanes-Oxley financial reporting requirements.
1,185 words (approx. 4.7 pages), 6 sources, APA, $ 40.95
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Abstract
This paper discusses enterprise risk management from the viewpoint of new financial reporting requirements in the corporate world, specifically those associated with Sarbanes-Oxley legislation in the United States. Additionally, this brief implementation plan discusses enterprise risk management from the perspective of a single company: Pfizer. Pfizer scale and scope of operations ensures that it requires the most comprehensive of plans. Additionally, the particular enterprise risk management planning strategy employed is the COSO framework.
Table of Contents:
Abstract
Company Overview
COSO and Sarbanes Oxley
COSO
Sarbanes-Oxley
Implementation Framework
Control Environment
Risk Assessment
Control Activities
Information and Communication
Monitoring
From the Paper
"Pfizer's executive leadership should identify financial reporting objectives with sufficient clarity and specificity to enable the identification of risks to reliable financial reporting. Pfizer should identify and analyze risks that are associated with preventing the achievement of financial reporting objectives as a basis for determining how the risks should be managed. The potential for possible financial misstatement due to fraudulent reporting should be incorporated when assessing risks to the achievement of financial reporting objectives with the company."
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Ethics in Accounting, 2008.
This paper examines federal and state ethical considerations in the practice of accounting.
833 words (approx. 3.3 pages), 2 sources, APA, $ 29.95
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Abstract
The paper discusses Massachusetts' laws that govern the practice of accountants within its borders. The paper explores how the Sarbanes-Oxley Act (SOX) impacts the professional and ethical standards of accountants. The paper then shows how SOX ensures that accounting firms will adhere to strict ethical standards by providing greater scrutiny of accountants' methods and practices when it comes to corporate auditing.
Outline:
Introduction
Massachusetts Provides for Accountant-Client Privilege
Massachusetts' Position on Accounting Work Product
Three Code Violations that May Result in Criminal and/or Civil Accountant Liabilities
How the Sarbanes-Oxley Act Impacts the Professional and Ethical Standards of Accountants
From the Paper
"An accountant's work product is that work which is used to complete the client's case, and is held to be confidential, unless the client allows its release. However, according to 252 CMR 3.03, an accountant must comply with a subpoena or summons enforceable by order of a court to release information obtained in the course of a "professional engagement", even without client consent.
Therefore, an accountant is required to release confidential client information if a court of law so requires. "
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Stock Option Accounting, 2008.
This paper explores the accounting concepts surrounding eBay's stock options.
966 words (approx. 3.9 pages), 3 sources, APA, $ 34.95
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Abstract
The paper examines the ethical issues surrounding eBay's financial reporting practices and how eBay's practices are affected by the current accounting procedure for stock options. The paper also explores what a conversion to the fair value method implies for eBay and its stakeholders. The paper then provides two specific examples related to the effects on financial statements and examines footnote disclosure from an ethical perspective. The paper concludes that eBay should change the accounting for stock options, even though it is not mandated.
From the Paper
"It is argued that the triangulation of the accounting concepts surrounding stock options for eBay employees does not absolve the ethical consideration and obligation to include the earnings of the company that is affected by actions that have an intrinsic value to the firm (Baviera & Walther, 2005, p. 2). Even the FASB is currently trying to get companies like eBay to expense stock options in wake of the fact that it adds a significant value to executive compensation and the fact that employees can sell these shares for cash implies that they should be expensed rather than treated as a footnote (Baviera & Walther, 2005, p. 3).Overall eBay's stock options are not 'value-less' and should impact expenses, the issue is what value should be used? "
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Corporate Compliance on a Personal Level, 2008.
A look at the changes in corporate compliance laws.
898 words (approx. 3.6 pages), 4 sources, APA, $ 31.95
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Abstract
This paper explores the changes in corporate compliance brought about by the enactment of The Comprehensive Environmental Response, Compensation and Liability Act and the Sarbanes-Oxley Act of 2002. The paper relates that both of these comprehensive legislative initiatives were brought about by infamous events in American Corporate history, and were aimed at preventing such corporate transgressions in the future. They brought personal liability for the actions of the corporation to its directors, officers and management.
From the Paper
"The corporate veil was a thick impenetrable barrier that protected Officers, Directors, Management and shareholders from personal liability from the acts of the corporation. The immunity granted by the legislative progenitors of these modern day immortals are now chipping away at the corporate shield, and have created large holes where the long arms of personal liability can now reach. As with all things political, seminal events brought about these fundamental changes in corporate law. The pollution scandal of Love Canal brought about The Comprehensive Environmental Response, Compensation and Liability Act (CERCLA), among other provisions brought about criminal liability to Officers and Management for willful violations (Darragh, 1997, n.p.). The corporate financial scandals associated with the "Dot Bomb" era of the late 1990's resulted in the Sarbanes-Oxley Act of 2002, establishing personal liability to the corporate officers in the reporting of financial data to the Security and Exchange Commission (SEC) (Hein, Neimeth, Rosner & Watts, 2002, n.p.). The spectacular misdeeds of a very few in the corporate world brought about increase personal liability and risk to those that run corporations in America."
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Sarbanes-Oxley (SOX) Act of 2002, 2008.
A critical review of Sarbanes-Oxley (SOX) Act of 2002 to assess its success.
1,960 words (approx. 7.8 pages), 4 sources, APA, $ 62.95
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Abstract
This paper outlines the events leading to the creation of the Sarbanes-Oxley (SOX) Act of 2002 and its major features. The author conducts this investigation within the contextual framework of well-known companies Symbol and WorldCom, which were publicly identified as companies that had compliance issues and faced serious failures in corporate governance. The paper also uses the CareNetWest situational analysis for a comparative analysis of risk management and other compliance issues related to the Symbol and WorldCom scenario. The paper concludes that SOX has been able to alleviate or at least deter poor financial reporting that either directly or indirectly had the objective to defraud individuals.
Table of Contents:
Introduction
Preceding the Sarbanes-Oxley Act - Symbol and WorldCom
Outcomes of the Compliance Issues with Symbol and WorldCom - Understanding Sox
Will the Act Be Successful - Avoiding another Symbol and WorldCom?
Comparative Analysis: Compliance Issues with CareNetWest, Symbol, and WorldCom
Conclusion
From the Paper
"WorldCom were the main companies that led to the severe need for SOX. WorldCom in 2002 was fined by the Securities Exchange Commission, after it was found that the company improperly booked $3.8 billion dollars over five years that made revenues looked better than what they were and was used to 'trick' shareholders and investors with a blatant misrepresentation of the company's finances. WorldCom's actions were unethical and purposefully did not account for true cost and expenses which severely overstated profits."
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Financial Impact of Globalization, 2008.
This paper looks at the financial impact of globalization on manufacturing
in the United States.
1,136 words (approx. 4.5 pages), 7 sources, APA, $ 39.95
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Abstract
In this article, the writer discusses globalization in terms of its impact on US based manufacturing. The observation is made that globalization is best described as the internationalization of goods and services as well as the internationalization of production and manufacturing. The predominant business strategies related to globalization are discussed which are outsourcing and offshoring. These phenomena are related to productive output within the US economy and with total number of manufacturing positions in the market that have been lost due to globalization factors. The writer concludes that the impact of globalization on US based manufacturing has been negative in terms of total productive output as well as in total number of jobs in manufacturing.
Outline:
Abstract
Introduction
Productivity & Labor
Globalization's Affect on the US
Conclusion
From the Paper
"Manufacturing and production as an economic activity consists of many factors. However, the two most important economic factors relative to manufacturing are productivity and labor because overall output is the broadest measure of productivity and labor relative to the number of manufacturing jobs present is the broadest measure of efficiency. Developing a better understanding of how globalization has affected these two factors in the US market is paramount to determining the future trends related to US manufacturing as globalization continues to be the international economic model of choice. Before examining these factors vis-a-vis the US market, it is important to describe the particular phenomena associated with globalization, which leads to the mass movement of manufacturing and production from one market to another that impacts productivity and labor metrics."
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Canadian Telecommunications: Customer Profile Analysis, 2008.
This paper provides a straight forward customer profile analysis that includes target market, product usage and purchasing motivation for the three Canadian-based telecommunication companies of Telus, Rogers and Bell.
785 words (approx. 3.1 pages), 4 sources, MLA, $ 27.95
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Abstract
This paper shows a customer profile analysis for the Canadian based telecommunication companies of Telus, Rogers and Bell. The paper compares the market strategies of the three companies within a shared target and space, and determines that each of the companies rely heavily on phone communication as a necessity, for building their businesses. The paper also shows the slight differences in strategies: Telus as a growing global performer, Rogers as offering a host of commercial solutions and Bell as being the leader due to its long-standing presence in the market, its recognized brand, and its array of bundled services.
Telus
Target Market
Product Usage
Purchasing Motivation
Rogers
Target Market
Product Usage
Purchasing Motivation
Bell
Target Market
Product Usage
Purchasing Motivation
From the Paper
"The motivation for Rogers' wireless solutions is centered on the company's target market's desire to remain connected with both peers and family. Increasingly, wireless phones are being employed as the sole means of communication between family members as well as peer groups. The residential and business phone accounts are subscribed to out necessity since many customers and certainly most businesses still rely on the traditional phone line as their main form of communication. Likewise, Rogers' cable television service is purchase more for its entertainment value than for any form of communication method even when packaged with Internet services."
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Healthcare Budgeting Regulations, 2008.
A review of the article "Health Care Fraud" by A.M. Nann, J.C. Ashe, and K.H. Levy.
1,032 words (approx. 4.1 pages), 3 sources, APA, $ 36.95
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Abstract
This paper discusses the subject of healthcare fraud and its effect on healthcare budgeting with respect to government rules and regulations that directly impact the budgeting process. In the article by Nann, Ashe and Levy entitled 'Health Care Fraud" the paper states that of particular importance are the Medicaid and Medicare programs and how recent changes in policies and the regulatory environment have impacted the healthcare industry from a regulatory perspective.
From the Paper
"The healthcare budgeting process has become so difficult vis-a-vis Medicare and Medicaid because of the increasing legislation, scope, and expansion of these plans accompanied by increased reporting and billing accountability. As recently as the current Presidency Medicare has come under expansive reform that has thrown the typical healthcare budget process into an exercise in futility because reconciling expected payments under a typical fee for service plan is difficult and is susceptible to fraudulent billing practices (Nann, Ashe and Levy, 2005). The current administration implemented the most sweeping reforms of Medicare in many years. One of the biggest impacts made on healthcare budgeting by these new adjustments to Medicare have been on capping expenses which physicians and healthcare institutions can charge for a given service if it is accepted within the Medicare program."
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Macroeconomics of Interest Rates, 2008.
This paper examines the issue of interest rates as it relates to the economy.
1,856 words (approx. 7.4 pages), 5 sources, MLA, $ 59.95
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Abstract
This paper discusses the recent economic reports and events with respect to interest rates and interest rate movements. The current state of the US economy is examined as well as the Federal Reserve handling of monetary and fiscal policy relative to the economy. Of particular importance is the Federal Reserve's strategic shift in policy from accommodative to appropriate. The writer concludes that it can be seen that interest rates are much more than one of many economic devices that the Fed has to influence the economy but is actually one of theprimary methods in which the Fed interacts and influences the direction of economic growth and expansion.
Outline:
Abstract
Introduction & Thesis
Overview of Interest Rates
Types of Interest Rates
Impact of Change in Interest Rates
Conclusion
From the Paper
"Risk structure as it relates to interest rates is essentially the relationship between the interest rates on bonds that have the same term to maturity features. This leads to an active consideration of the default risk which is the chance that a given issuer of a bond may default by not being able to make the interest payments on the bonds at completion of the term or may not be able to meet the face value payment of the bond either. This creates the default risk model which implies that as the risk associated to a bond family increase then interest rates must also increase in order to compensate for the risk premium being incurred. Thus, since corporate bonds are more prone to market failure they typically bear a higher interest rate than government bonds, for example."
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Implementing the Activity-Based Costing System, 2008.
An overview of the methods of applying the "activity-based costing system" at Dakota Office Supply, in which actual costs associated with each product are established.
1,425 words (approx. 5.7 pages), 4 sources, APA, $ 47.95
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Abstract
The paper discusses, in a detailed description, the effectiveness of an activity-based costing system or ABC and the ineffectiveness of the current costing system in use at the Dakota Office Supply (DOS) company . The paper then relates the methodology of implementing ABC at DOS and the procedures involved in its application.
Outline:
Overview
Situational analysis
Activity based costing
ABC in practice at Dakota
Procedural steps of ABC
From the Paper
"Before performing ABC, a baseline or a starting point is needed for business process improvement and a baseline can be expressed in some form of model. This baseline is critical for DOP because in order to establish this baseline metric the analytics just performed must be done for each individual account. If DOP performs this activity on each customer the strategic management benefits would be substantial because all the excess cost-drivers could be eliminated resulting in much wider operating margins and thus profitability without increasing costs or committing resources to gain this efficiency. Therefore, a baseline is a documentation of the organization's policies, practices, methods, measures, costs and their interrelationships at a particular location at a particular point in time (Maiga & Jacobs, 2003). Through base-lining, activity inputs and outputs across functional lines of business can be identified. ABC is the only improvement methodology that provides output or unit costs. Value added activities are those for which the customers are usually willing to pay in some fashion for the product or service. Non-value added are activities that create waste, result in a delay of some sort, and potentially adds costs to the products or services. Resources are assigned to activities so that the activities can be performed in the first place. Some of Pilgrims' resources are measured in man-hours, machine hours as well as machine maintenance and operational overhead. It is through ABC that an organization can begin to see actual dollar costs against individual activities, and find opportunities to streamline or reduce those costs, or even eliminate the entire activity thus removing the cost altogether. This is the process inherent in ABC that reduces overall expenditures of the company. "
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Cu Boxes: Capital Expenditure, 2008.
Explores the factors Cu Boxes should consider when deciding to lease or purchase capital equipment.
1,015 words (approx. 4.1 pages), 3 sources, MLA, $ 35.95
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Abstract
This paper indicates that the NPV (net present value) analysis shows a net loss fo Cu Boxes on the lease option over the operational life of the equipment because it would lose the tax benefits related to depreciation. The paper then explains, however, that the initial capital requirement to purchase capital equipment is a major concern for Cu Boxes. The paper also points out that Cu Boxes intends to borrow money to partially cover the purchase, which will make it a higher credit risk and will limit its lines of credit and loan options. The paper relates that, in Cu Boxes' automation dependent industry, the pace of obsolescence makes the purchase more problematic. The paper includes analysis charts.
Table of Contents:
Issue Overview
Capital Equipment Lease or Purchase
Machine Purchase
Conclusion
From the Paper
"Buying equipment can often be the best decision because of the equity position that a company receives in the equipment which, depending on the industry, could be substantial. This implies that the strongest advantages in purchasing capital equipment are the outright ownership and the extended tax benefits but for companies with cash flow concerns, the initial investment costs are or can be prohibitive ("Capital"). "
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Capital Asset Pricing and Discounted Cash Flow, 2008.
A comparison between the capital asset pricing model (CAPM) and the discounted cash flow (DCF) model.
820 words (approx. 3.3 pages), 2 sources, APA, $ 29.95
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Abstract
This paper compares and contrasts the capital asset pricing model (CAPM) and the discounted cash flow (DCF) model in valuing common stock. The paper holds that, because of the complexity and importance of valuing common stock, the above techniques have been devised over time to accomplish this task. It points out that CAPM focuses on inputs to calculate stock prices that are external to the firm while the DCF model focuses on internal factors. Also, CAPM is concerned with growth rate, while DCF is concerned with estimated returns. The paper concludes that both models are important to investors and expanding companies.
From the Paper
"For a firm that is expanding, it is difficult to establish a proper growth rate for the DCF. If past growth rates in earnings and dividends have been relatively stable, and if investors appear to be projecting a continuation of past trends, then the growth rate may be based on the firm's historic growth rate. However, if the company's past growth has been abnormally high or low, either because of its own unique situation or because of economic fluctuations, then the growth rate has to be estimated in some other manner."
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Modeling Strategies for Financial Hedging, 2008.
An examination of GARCH or generalized auto regressive conditional heteroskedasticity, which is a modeling technique that allows researchers to predict for financial variances.
962 words (approx. 3.8 pages), 7 sources, MLA, $ 34.95
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Abstract
The predominance of existing research related to hedging strategies relative to the futures markets is typically concerned with agricultural, foreign exchange (forex), and petroleum products. This paper attempts to offer some insight relative to the mathematical modeling techniques which financial hedging strategists employ in order to be successful at mitigating risk. The paper explains that modeling volatility within the financial markets has not received a great deal of academic attention. The paper then looks at how Siddique and Harvey, in "Auto regressive Conditional Skewness" undertook a study of auto regressive conditional skewness which utilized GARCH techniques wherein they concluded that auto regressive models might be successful at modeling time-series variations relative to asset pricing such as stock returns but not necessarily for futures and related hedging strategies. The paper shows that researchers successfully applied the GARCH model to daily returns volatility of two separate futures markets in commodities. The paper concludes that these researchers proved that every hedging entity can adapt these models to develop a functional model that can accurately incorporate intervention related to exchange rate fluctuations into a futures volatility model that works to effectively hedge each entity's particular needs and constraints.
Outline:
Abstract
Garch Modeling
Durban-Watson
Omega Function in Modelling
From the Paper
"Predicting, managing, and leveraging the uncertainty in futures market is however vital if a comprehensive market strategy is going to be developed that enables an entity to efficiently control, or at least manage, the cost-basis of its investments or operating expenses. GARCH techniques can be used to construct models that control, to some degree, conditional variances related to futures as well as spot market prices and allow better management of financial or commodities portfolios."
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Cash Management and Financing, 2008.
An overview of cash management and finance techniques.
1,264 words (approx. 5.1 pages), 1 source, APA, $ 42.95
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Abstract
This paper looks at cash management techniques and short-term financing within an organization and explores both options, with a comprehensive analysis of various techniques and methods. There is also an overview of the relative advantageous and disadvantages of the methodologies employed within each categorization.
Outline:
Introduction
Cash Management Techniques
Short-Term Financing
Conclusion
From the Paper
"Cash management techniques have become important as financial managers try to accurately monitor risk and exposure, and use policies for improved decision-making. Similarly, methods of short-term financing have gained much needed use, as organizations, try to utilize financing options and increase the overall efficiency of organizations. This paper will explore both options, with a comprehensive analysis of the various cash management techniques, and methods of short-term financing. There will also be an overview of the relative advantageous and disadvantages of the methodologies employed within each categorization."
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Budget Estimates, 2008.
This paper, which explains the process of budget estimation by focusing on cost and revenue analysis, is written in the form of a memo.
885 words (approx. 3.5 pages), 1 source, APA, $ 31.95
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Abstract
This paper presents a basic overview of the overall structure of the budgeting process at the organization, including the different categorizations of managerial costs, which are explained with definitions and examples. The author points out that fixed costs are costs that are constant, such as the lease payment for the offices. The paper also relates that sunk costs are costs that are usually incurred before a certain activity takes place and cannot be recovered by the possible sale of the asset they were used to produce, such as the costs related to the development of the annual employee survey. The author explains that direct costs are clearly allocated to the project or department of interest; whereas, indirect costs are not closely associated with the functionality of the particular operation but do contribute to the overall operations of the firm, such as the use of software. The paper includes graphs.
From the Paper
"The overall structure of reporting for profits at the company is the basic idea of revenue less expenses. Revenue, just simply means how much is earned by the business from its sales; quantitatively it's the price of the product times how much of the product we sell. The issue that gets a lot of non-financial managers like yourself is how to classify costs. Overall, the estimate of profits will always be revenue less costs. Costs can be classified as fixed, variable, semi-variable, sunk costs, direct, indirect, and so on."
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Conflicts of Interest for Canadian Financial Planners, 2008.
A discussion of various conflicts of interest that exist for financial planners in Canada.
1,065 words (approx. 4.3 pages), 4 sources, MLA, $ 37.95
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Abstract
This paper addresses conflicts of interests facing professionals in financial planning in Canada. The paper points out that the Financial Planner Standards Council (FPSC) was put together in 1996 in order to better regulate the rapidly expanding industry and to reduce or eliminate the potential for abuses in the industry - the most common abuses being the potential for conflicts of interest for the financial planner. The paper delineates 3 types: financial, structural and personal. The paper concludes with the suggestion that one of the best ways to protect the interests of financial planners is to become certified through the FPSC.
Outline:
Introduction
Conflicts of Interest
Conclusion
From the Paper
"Another type of conflict may develop when the financial planner actually holds some type of formal or informal position of influence over that of the client. These are termed structural conflicts and while not very common are certainly difficult to regulate or prevent (List). Many of these types of conflicts of interest are prevented by the standards to which all Canadian financial planners must adhere to in order to remain certified financial planners through the Financial Planners Standards Council in accordance with its code of ethics."
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Financial Planning: City of Charlotte, 2008.
An analysis of the financial planning for Charlotte, North Carolina.
820 words (approx. 3.3 pages), 1 source, APA, $ 29.95
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Abstract
This paper examines the financial planning and related public policy for the city of Charlotte, North Carolina. It provides a general outline of the city's budget, including expenditures, projects, funds, revenues and future spending plans.
Outline:
Expenditures, Encumbrances and Expenses
Capital Project, General, and Proprietary Funds
Analysis of Budget
Main Revenue Sources
Budgetary Levels
Long-range and Short-range Spending Plans
Largest Appropriations
Public policy: Short-range and Long-range
From the Paper
"The main revenue sources for the city include taxes paid by business, taxes collected for property, licenses, transportation and tourism. Charlotte is one of the largest banking cities in the nation and is a central "hub" for many companies within the trucking industry. Additionally, Charlotte is home to three major professional sporting franchises and has a large manufacturing and construction base. Because Charlotte continues to grow significant with each passing year, the revenues from the growth associated with business are extensive. However, the growth of the city due to population also impacts the budget of the city and the funds that are required to operate many of the programs required to address the needs of the population."
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Measurement Bases for Financial Reporting, 2008.
An analysis of measurement bases and their effects on financial reporting.
3,507 words (approx. 14.0 pages), 21 sources, APA, $ 98.95
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Abstract
The paper relates that the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) have decided to revise their conceptual frameworks for financial reporting and accounting. The paper notes that, ideally, the present framework of both boards will be broader and expansive so as to develop a conceptual framework, which both Boards can use as an outline for new and revised accounting standards. The paper explains that one key area that is affected is the basis of measurement and its effect on financial reporting. The paper then proceeds to evaluate the different ways that measurement is defined within the conceptual framework. The paper also analyzes the methodologies identified so that choices made in the future can be based on valid recommendations.
Outline:
Introduction
Measurement and Bases of Measurement
Criticisms
Objectives of Financial Reporting and the Bases Choice: Is there a Trade-Off
What Bases Should be Chosen?
Conclusion
From the Paper
"Measurement in financial reporting is therefore dependent on a lot of external factors to the organization; which affect the process of integrating it within the conceptual framework of the IASB/FASB. Bullen and Crook (2006) states that measurement will continue to be one of the most challenging aspects of the conceptual framework since neither bodies have a clear cut definition as to what are the necessary bases that should be used nor are there a set of refined guidelines for the use of any bases. The definitions of both bodies are vague, and as such the conceptual framework continues to produce a vague definition."
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Finance and Management: Non-Profit Organizations, 2008.
An examination of the profit measure criterion for governance at non-profit organizations.
1,205 words (approx. 4.8 pages), 4 sources, APA, $ 41.95
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Abstract
This paper examines non-profit organizations, focusing particularly on profit measure criterion, and argues how it can benefit a hospital facility grappling with high costs and high expectations. In so doing, the paper looks at several of the broad characteristics that define non-profit organizations and suggests how an effective policy governance model and health care provisioning can be achieved simply by paying attention to the bottom line. The paper concludes that hospitals must understand that they have finite resources and that offering a few core services at a high level is infinitely preferable to running up a high debt offering numerous services at a low level.
From the Paper
"One of the strengths of using the profit measure approach is how it can succeed in ensuring that there is no confusion about who does what, what is expected when they do it, and what the final outcome(s) should be. According to Carver & Carver (2006), the properly-functioning Policy Governance Model will accentuate the following: self-imposed rules (for the board) vis-a-vis the delegation of authority and the method by which "board-stated" criteria will be utilized during the evaluation process; clarity in terms of who is responsible to whom; and a determination to see to it that board decisions (while open to possible change) are never undermined. While Carver and Carver do not touch upon it, the preceding governance approach clearly functions best when there is one easily quantifiable, easily transferable, means of measuring who is performing and who is not performing across the whole breadth of the organization's activities. The profit measure obviously does this and thereby sees to it that long-term goals are not compromised by short-term mismanagement in one department (or group of departments)."
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The Mayborn Group, 2008.
This paper presents a financial performance analysis of The Mayborn Group, based in the U.K.
2,467 words (approx. 9.9 pages), 7 sources, APA, $ 75.95
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Abstract
In this article, the writer discusses the Mayborn Group, based in the United Kingdom, that is known in several countries by its products if not by name. The writer points out that since the Mayborn Group's inception it has designed and manufactured several products for household and baby care use. The writer then analyzes the group's financial performance. The writer notes that although the recent business climate has proven difficult the company has survived both reorganization and merger scenarios that has made it stronger, more competitive, and less reactive. The writer concludes that while the Mayborn Group has not always been viewed favorably by the financial markets, it has recently gained positive reviews from both investors and analysts alike due to its restructuring and acquisition strategies.
Outline:
Introduction
Ratio Analysis
Cash Flow
Operating Cost Structure
Conclusion
From the Paper
"Currently its strategy as listed in its 2005 annual report, the most recent annual report available, is to strengthen its consumer brand awareness and continue to be innovative in its product development. Both of its divisions: the Babycare Products Division and the Household Products Division have strong brand identity but also need to penetrate the global markets in order to meet growth objectives and satisfy shareholder demands for return on investment. An examination of Mayborn's financials, its five year history and three year ratio analysis that follows, indicates that Mayborn is growing in terms of both volume sales and revenue; however, 2003 to 2004 was a transition year for the company and the slight drop in its return on assets and equity indicate some difficulties with its restructuring during those years. Yet, while there were some decreases in revenue, margins, and returns for the last two available years, overall, the Mayborn Group is still on a growth trajectory, as its preliminary numbers for 2005 indicate."
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Sarbanes-Oxley Act, 2008.
An analysis of the Sarbanes-Oxley Act and its successes.
1,508 words (approx. 6.0 pages), 4 sources, APA, $ 49.95
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Abstract
The paper analyzes the events leading to the creation of the Sarbanes-Oxley Act of 2002 and outlines the major facets of the Act. The paper reviews the Act to see the major challenges and successes the Sarbanes-Oxley Act has addressed. The paper concludes that despite the Act's drawbacks, it has been able to alleviate or at least deter poor financial reporting that either directly or indirectly had the objective to defraud individuals.
Outline:
Introduction
Preceding the Sarbanes-Oxley Act
Major Provisions of the Act
Will the Act be Successful?
Conclusion
From the Paper
"The Sarbanes-Oxley Act (henceforth SOX) contains 11 titles, which address issues involving criminal penalties, independence of auditors, rulings and requirements of the Securities and Exchange Commission, among other known accounting elements. The most profound part of SOX is the fact that there is a board that acts as an oversight agency which regulates, inspects, and disciplines auditors in their role as external accountants for public companies."
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Company Tax Loss, 2008.
A case study analysis of the Business Objects company and the effect of its tax loss on the company.
764 words (approx. 3.1 pages), 3 sources, APA, $ 27.95
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Abstract
This paper discusses various factors which must be considered in order to determine whether a tax loss should be carried forward by an organization or not. It discusses the case of the company, Business Objects, and its tax loss. The paper then looks at the effects on the company's free cash flow forecast and employee stock plan and the effect of common stock.
Table of Contents:
Business Objects Valuation Allowance
Effect on Free Cash Flow Forecast
Employee Stock Plan and Effect of Common Stock
From the Paper
"Business Objects offers a stock-based compensation plan. This impacts the valuation of common stocks in that the costs and income of that program have to be included in the company's balance sheets and the tax impacts carried forward to the best of the company's ability to forecast exercise of options. Deodorant (2005) claims that in order to properly account for an options program's impact on common stock valuation, the value of the options plan must be determined ad this value subtracted from the overall equity of the company before the common stock value is derived. Using this method, Table 2 provides the value of shares outstanding, minus the value of outstanding options, as calculated in Excel."
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The Parmalat Scandal, 2008.
This paper examines the accounting and auditing roles in the Italian Parmalat scandal.
1,025 words (approx. 4.1 pages), 4 sources, APA, $ 36.95
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Abstract
The paper discusses the Italian food conglomerate Parmalat's financial scandal that was one of the worst in world history. The paper looks at the combination of financial fraud and lax oversight and demonstrates what went wrong. The paper focuses on the auditor's role in this scandal and addresses what can be done to avoid such unethical activities in the future.
Outline:
What Went Wrong at Parmalat?
What Was the Auditor's Role?
What Can Be Done to Avoid Parmalat in the Future?
From the Paper
"In December 2003, the Italian food conglomerate Parmalat crashed in a financial scandal that was one of the worst in world history (Citizen Works, 2006). Through a combination of financial fraud and lax oversight, the company had engaged in misstating income and hiding debt. In fact, the fraud was so extensive that almost 80% of the company's income for one sales year was fabricated of lies, and all of its profits were made up (Rogers, 2005). The scandal was particularly damaging to proponents of a principles-based reform of accounting, since it showed that such a system was just as prone to abuse and scandal as an alternate rules-based system. In fact, following the Enron and Worldcom scandals in the U.S., under the rules-based accounting system followed in the U.S., the Generally Accounted Accounting Principles (GAAP) had been reformed under Sarbanes-Oxley to bring the GAAP standards more in line with principles-based approaches (Rogers, 2005). The Parmalat scandal showed that these reforms ultimately may not work either if the accountants in a scandal are either collusive or neglectful to the point that scandal is possible by unethical persons."
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Accounting Case Study: Krispy Kreme, 2006.
This paper is an analysis of the financial and managerial accounting of Krispy Kreme, the international doughnut company, during the period from 1998 to 2002, and the degree to which it indicates future problems.
1,520 words (approx. 6.1 pages), 4 sources, APA, $ 50.95
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Abstract
This paper explains that, although the road had been a bit rocky, Krispy Kreme's financial position has substantially improved in the five years since 1998. The author points out that the ratio of company and franchised stores sales are somewhat disturbing. The paper indicates that, after 2002, a series of problems developed for the chain, which could not have been foreseen previously. The author relates that Krispy Kreme's managerial accounting report did not address how a company in good financial position can change once it goes public, expands to foreign countries, looses control of its franchisees and does not keep up its market research program to determine changing social dynamics. The paper stresses that the forward-looking statements of the managerial accounting involve risks and uncertainties, which may cause the actual results to differ materially from expectations.
From the Paper
"These figures do represent the continued investment within the capital expenditures of the company. Otherwise, the depreciation figures would not continue to go up. Krispy Kreme restructured in 1999, a $9,466 cost, which may reflect the poor performance.
Their income from operations is doing well. We see $5,420 in 1998; a loss of $3,702 for 1999; a major payoff for 200 with $10,828 and likewise for 2002, $23,507 and $41,887. However, we do see an equity loss in joint ventures in 2001 and 2002, showing the company, as stated in the report, has ventured into new areas - the real estate."
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Savings and Loans, 2008.
This paper discusses savings and loans looking at the U.S. banking crisis of the 1980s.
1,923 words (approx. 7.7 pages), 6 sources, APA, $ 61.95
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Abstract
In this article the writer discusses the US banking crisis of the 1980s otherwise known as the savings and loan crisis. The writer notes that the foundations of the crisis are found in the late 1960s and the 1970s when various states began to deregulate the savings and loans chartered by them. The writer points out that in the 1980s, continued deregulation and lax oversight contributed to the savings and loan crises, which ultimately cost the U.S. taxpayers billions of dollars to repair. The writer concludes that the primary question that the banking crisis of the 1980s leaves one with, is not if this type of industry transgression will occur again, but rather, when it will occur again.
Outline:
Abstract
The Crisis Foundations
Regulatory Expansion of Services
Mid Decade Industry Expansion
Conclusion
From the Paper
"The US banking crisis of the 1980s centered on the failure of some of the nation's largest savings and loans (S&L) institutions and the policies and regulations that seemed to facilitate this crisis. The US banking crisis of the 1980s crisis did not, however, simply occur in a vacuum and take the nation by surprise. While its ultimate severity may have surprised some people familiar with the industry, in fact, many people recognized that the S&L crisis really had its roots in the 1960s and 1970s when market interest rate increases undermined the S&L industry's competitiveness for deposits. Thus, the foundation of the S&L crisis of the 1980s has its roots during the 60's and 70's when the original state imposed rate ceilings limited S&L competitiveness and then, subsequently, state and federally mandated policies and regulations over compensated for these earlier restrictions through aggressive deregulation."
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