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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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The Future of Financial Reporting, 2008.
This paper explores the development of a conceptual framework for financial reporting and accounting by the Financial Accounting Standards Board (FASB) and International Accounting Standards Board (IASB).
1,734 words (approx. 6.9 pages), 19 sources, MLA, $ 56.95
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Abstract
The paper explores if the proposed conceptual framework for financial reporting and accounting covers the main facets of the original framework of both the FASB and the IASB and whether the purpose of financial reporting is omitting a vital element. The paper further examines whether the decision-useful objective necessarily encompasses the stewardship objective. The paper concludes that it is necessary to have separate objectives related to stewardship and decision-usefulness.
Outline:
Introduction
Financial Reporting that is 'Decision-Usefulness'
Stewardship Objective
Should the Stewardship Objective be Included Separately?
From the Paper
"The Financial Accounting Standards Board (FASB) and International Accounting Standards Board (IASB) have decided to revise their conceptual frameworks for financial reporting and accounting. 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. This amalgamation is very important since markets become more international in scope, there is a need for global accounting standards that are consistent irrespective of the geographical boundaries. Also, 'there was a need to provide direction and structure to financial accounting and reporting' (Penman 2006)."
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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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Magazine Startup Operations, 2007.
This paper details some of the capital and operating expenses associated with a start-up magazine: 'Investment and Money Management'.
1,140 words (approx. 4.6 pages), 3 sources, APA, $ 39.95
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Abstract
This paper explains that the primary capital expenses for the start-up magazine, 'Investment and Money Management' can largely be reduced to operating expenses by utilizing contract vendors to perform these functions rather than develop them in-house. The author points out that the printing and distribution business functions are the most cost-prohibitive to establish and are basically not in-line with a magazine publisher's primary line of business, which is advertising and content creation; however, some publications are beginning to outsource production as well. The paper stresses that performance targets for the outsource vendors are critical to the magazine's long-term success. The author includes quality and performance metrics, which should be used for the printing and distribution vendors. The paper lists the vendor contract terms and conditions for the distributor and printer.
Table of Contents:
Abstract
Capital & Operating Costs
Printing
Distribution
Performance Targets for Outsourced Functions
Checklists
Number & Types of Vendors
From the Paper
"Distribution: no upfront capital expenses are accrued or required. Assuming the 65% capitalization already accrued is based on in-house distribution facilities then by outsourcing these operations this entire cost structure is eliminated and the only cost is the operating expense associated with each publication cycle. If $100k were allocated towards the first year's distribution operations then by outsourcing these operations at a rate of $18000 annually saves approximately $82% of costs."
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Fiscal Management in an Intensive Care Unit, 2007.
This paper is a case study demonstrating fiscal management through variance analysis for an intensive care unit.
1,455 words (approx. 5.8 pages), 5 sources, APA, $ 48.95
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Abstract
This paper explains that, currently, major activities need to be taken into consideration so that the budget for the intensive care unit can be reconfigured or some activities can be deferred to the new fiscal year. The author relates that issues relating to safety standards and staff education increase overall productivity, which improves the quality of care within the intensive care unit. The paper points out that next fiscal year budget should have personnel divided by functionality to make budget allocations indicative of different staffing activities. The author suggests that, in an intensive care unit, it is imperative that supplies are kept in stock or there can be serious legal and financial implications; therefore, there should always be padding for this area provided in the budget. The paper includes a variance table showing the current reallocation of the budget, which addresses the important factors within the intensive care unit without increasing the budget.
Table of Contents
Expenses
Conference on High Risk Medications
High Risk Medications
"Smart Pumps"
Supplies Expenses
Personnel Budget
Table 1: Reallocation Process: Intensive Care Unit Budget Adjustment
Major Fiscal Concerns and Recommendations
Table 2: Variance Analysis
From the Paper
"The traveling or staff education budget will not allow the all three nurse to attend the seminar this fiscal year, since the budget remaining in these categories is $700 and $400 respectively. However, one of the nurses can be registered for the conference this year (and take advantage of the $200 registration fee), while the other the attendance of the other two nurses get deferred to the new fiscal year. This decision was based on the nature of the seminar, and the fact that the nurse's attendance will possibly have a 'spillover' effect and create a positive externality within other sectors of the intensive care unit via."
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Drosselmeier Corporation, 2008.
An analysis of the income of the Drosselmeier Corporation.
1,078 words (approx. 4.3 pages), 3 sources, APA, $ 37.95
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Abstract
The paper evaluates Drosselmeier Corporation, a German manufacturing firm producing Christmas nutcrackers. The paper analyzes Drosselmeier's cost structures relative to its pricing strategy and the resulting net income. The paper examines several scenarios in depth based on constant assumptions relative to accounting rules, demand and investments.
Outline:
Abstract
Overview
Assumptions & Initial Cost Structure
First Scenario
Scenario for a Targeted 45k DM
Increased Capacity Scenario
From the Paper
"There are several key assumptions to be made regarding Drosselmeier's costs and expenses in determining the optimum cost structure in order for the company to meet its revenue expectations. Determining the type of expenses associated with its product sales is important and understanding how they relate to its overall cost structure is important (Hawkins, 2006). There are essentially three types of expenses that Drosslemeier needs to account for: 1) those with a direct cause and effect, such as the costs of goods sold, 2) no future economic benefit which are periodic expenses such as office supplies, often classified as overhead, and 3) expenses classified as systematic an rational such as depreciation (West, 2003, pp.81-5). Based on understanding its cost structure and how expenses should be allocated, Drosselmeier can compute all of its various pricing strategies with a high degree of accuracy based on the same assumptions."
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