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Critical Thinking: Problem Resolution, 2007.
An analysis of a particular example of critical thinking using the critical thinking problem solving model by R. Hansten and M. Washburn.
846 words (approx. 3.4 pages), 4 sources, MLA, $ 30.95
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Abstract
This paper examines critical thinking (otherwise referred to as reflective thinking). The author reflects on a situation she experienced while holding a position in a hospital's accounting department and looks at how it was necessary to apply critical thinking to the problems that existed in the department. The paper presents the writer's opinion of the worth of the critical thinking problem solving model by R. Hansten and M. Washburn.
From the Paper
"Implementing the change would require some cross training from those who were skilled and knowledgeable of various insurance company nuances. Incorporating insurance company specific protocols into an online or hardcopy binder, with company listed alphabetically, would provide a reliable reference tool from which to adequately handle insurance company protocols. It is also suggested that a day be devoted to cross training presentations; for example, in the morning the manager could conduct a presentation on how to effectively deal with insurance companies and in the afternoon conduct a presentation on how to effectively deal with private patients, both with ample time for team discussion."
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International Accounting Standards, 2007.
This paper examines the need for a universal set of accounting standards.
3,559 words (approx. 14.2 pages), 10 sources, MLA, $ 99.95
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Abstract
The paper discusses the many advantages of having one global set of accounting standards that would improve the quality of financial reports and investment decisions. The paper looks at the IAS or International Accounting Standards proposal that will determine one set of accounting standards. The paper concludes that if the United States were to impose a broad and ill-defined system of accounting standards, companies would challenge every standard, trying to define the system in their favor.
Outline:
Pros And Cons Of Having One Global Accounting Standard
Preparers, Users and Regulators of the International Accounting Standards
Types of Companies; Listed vs. Unlisted, Large v. Medium v. small, Domestic v. International, Public v. Private
Political Process of Standard Setting; Rules Based, Principal Based
Examples of Three Different Countries; Compare Their Accounting Practices
Conclusion
From the Paper
"The new electronic interdependence recreates the world in the image of a global village." (McLuhan (1962 (1996, p. 31). There are many advantages of having one global set of accounting standards that will provide society with a crucial service not only in the United States, but in other countries as well. In recent years there has been shameful accounting methods used in which billions of dollars in retirement wealth and investments have had great financial losses. Because of these slanderous actions, the integrity and the ability to survive these accounting services have been questioned. Globalizing international trade by using a set of global accounting standards has had a tremendous effect in the way business is conducted. (Pagiavlas 1)"
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Say Yes to a Flat-Tax, 2007.
This paper argues for abandoning the current American tax system and switching to a flat-tax rate.
833 words (approx. 3.3 pages), 1 source, MLA, $ 29.95
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Abstract
The paper relates that with the complexity of the current US tax structure, many proponents are calling for a flat-tax rate system. The paper discusses how this method would simplify tax paying, increase the economy and could potentially be a cost-saver while increasing tax revenues. The paper explains that this system would be fairer and less complicated and stressful for citizens.
From the Paper
"The flat-tax rate gaining the most consideration in America is the proposal "formulated by Robert E. Hall and Alvin Rabushka of the Hoover Institution. Their proposal would have two components: a wage tax and a cash-flow tax on businesses" (Bickley 4). The wage tax would be based only on salaries and wages, which the cash-flow tax would be based on gross receipts minus all costs. There are many positive aspects of this flat-tax proposal, which need to be discussed."
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Time Value of Money, 2007.
This paper discusses the time value of money (TVM) principle and the factors that impact it.
962 words (approx. 3.8 pages), 4 sources, MLA, $ 34.95
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Abstract
The paper explains the time value of money (TVM) principle, which illustrates how money can grow by earning interest over time through various investment instruments such as banks, the stock market, annuities, and insurance. The paper examines interest rates and compounding, the present value (of a future payment received), the future value (of an investment) opportunity cost and annuities and the Rule of '72. The paper identifies the impact of these factors on TVM.
Outline:
Interest Rates and Compounding
Present Value (of a Future Payment Received)
Future Value (of an Investment)
Opportunity Cost
Annuities and the Rule of '72
From the Paper
"The growth of money is directly proportional to its amount. A small amount will earn only small interest, while larger amounts will earn larger interests. The Interest Rate is the percentage of growth for a given year. Money growth through interest is made possible by investments. Banks, for example, accepts money from its clients through deposits. It then uses this money as loan to other people and make a profit through the transaction. Because of this, the bank also has to pay some compensation to the original depositor, and this is the interest. Simply defined, interest is the cost of borrowing money. There are two types of interest: Simple and Compound."
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Drotos Theaters, 2007.
An accounting review of Drotos Theaters.
1,940 words (approx. 7.8 pages), 4 sources, MLA, $ 61.95
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Abstract
This paper evaluate the manuals and computerized activities of Drotos Theaters, assesses the internal control limitations and risks, recommends procedures for detecting employee fraud and recommends controls to prevent and detect financial misstatements. It also addresses concerns regarding the fact that the previous auditing firm resigned and explains how the ticket taker might steal cash and appropriate controls that could be implemented to prevent this from happening. It concludes briefly with the actions the management at Drotos Theaters can take to avoid financial and internal control disasters from occurring.
Outline:
Introduction
Manual and Computerized Controls
Detecting Employee Fraud
Internal Controls
Recommended Procedures
Conclusion
From the Paper
"At any corporation, both manual and computerized controls are necessary to ensure the proper flow of business and that adequate steps are taken that allow the business to continue to operate successfully. At Drotos Theatres, the manual controls in place involve the serial numbered tickets, the box that the other half of the ticket is placed in, and the ticket taker. The computerized controls involve the Controller depositing cash and recording transactions by posting journal entries into the computerized financial accounting system. The manual controls are not adequate in this case, because there is no system of checks and balances. To gain admittance to the theatre, cashiers receive payments from theatre customers and provide customers with a serially numbered, perforated ticket. "
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Overview of Audits, 2007.
This paper discusses public accountancy and provides an overview of audits.
859 words (approx. 3.4 pages), 9 sources, APA, $ 30.95
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Abstract
In this article, the writer explains that the Certified Public Accountant (CPA) statutory title is conferred on accountants qualified by passing the Uniform Certified Public Accountant Examination. The writer points out that the Generally Accepted Auditing Standards (GAAS) are a set of ten auditing standards developed in 1947 by the American Institute of Certified Public Accountants (AICPA), referring to general standards, standards of field work and standards of reporting. The writer discusses that the general auditing standards state that the person or persons performing the audit must have adequate technical training and proficiency as an auditor. In addition, the writer notes that the auditor must keep at all times an independent mental attitude; and finally, professional care must be exercised when planning and performing the audit and when preparing the report.
From the Paper
"Other requirements needed to be fulfilled for a license as a CPA are stated in Section 7404, Article 149, Title 8 of New York's Education Law: in the first place, an application must be filed with the department; then, after the candidate's education and experience have been found satisfactory, a written examination must be passed; also, the fees issue must not be forgotten, as a two hundred twenty dollars fee must be paid to the department for admission to a department conducted examination and a one hundred fifteen dollars fee for each reexamination for an initial license, and also a two hundred ten dollars fee for each triennial registration period."
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Family Limited Partnership, 2007.
An analysis of the pitfalls and usefulness of transfer of assets to a family limited partnership.
5,079 words (approx. 20.3 pages), 22 sources, MLA, $ 127.95
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Abstract
Effective financial planning for many professionals and other affluent taxpayers today requires a thorough understanding of what business forms are available and which are most appropriate for families. These alternatives might include trusts, private foundations, gift programs and family limited partnerships. To this end, this paper provides a review of the relevant literature to determine when a family limited partnership is appropriate. It analyzes the pertinent laws including an examination of the Internal Revenue Code, regulations, case law and other rulings and matters that are relevant to a family limited partnership in general and tax planning in particular. A summary of the research and salient findings are presented in the conclusion.
Outline:
Introduction
Review and Analysis
Analysis and Discussion
Conclusion
From the Paper
"While laws vary from state to state, many states treat a limited partner's creditor the same as an assignee that therefore has no vote in the partnership and no interest in its management or assets. Consequently, these creditors are only entitled to receive the distributions to which the debtor-partner would be entitled (up to the amount of the debt); however, even in these cases, the partnership agreement can provide that the general partner must reinvest partnership distributions in the partnership for "reasonable business needs" (Dedon, 1991, p. 61). Therefore, these types of creditors may be forced to wait for their distributions while continuing to report and pay income tax on money that has not been received; likewise, creditors of limited partnership general partners do not have any rights to partnership property to satisfy their claims against the general partners (Dedon, 1991). "
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Marks and Spencer, 2007.
An overview of the operations of the British retail chain, Marks and Spencer.
2,048 words (approx. 8.2 pages), 7 sources, MLA, $ 64.95
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Abstract
This paper examines Marks and Spencer, one of the oldest retail chains in the U.K. Established in 1884, it now boasts over 450 stores located throughout the U.K. In particular, the paper explores four different cost accounting methods and examines their benefits and limitations in relation to the operation of Marks and Spencer, including qualitative and quantitative methods.
Outline:
Company Background
Most Important Managerial Factors
Four Cost Accounting Methods and Their Application
From the Paper
"The Marks and Spencer brand is associated with quality. They have an established customer base in the high-end retail market. Their competitive strategy is based on promoting environmental responsibility and assuring customers that their products are produced in an ethical manner (Marks and Spencer, Look Behind the Label, 2007). They are completely upfront about their environmental and ethical policies. Their branding and competitive edge is based on social responsibility and sound environmental practices, such as purchasing Fair Trade coffee, cruelty free animal products, and using no Genetically Modified products in their foods. Their clientele is upper class, highly educated, concerned about quality and the environment. This differentiates them from competitors and gives them a considerable market advantage. "
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Accounting Case Study: Frantek and Conte, 2007.
This paper is an analysis of the accounting case study of Frantek and Conte, which explores problems involving revenue recognition.
1,240 words (approx. 5.0 pages), 4 sources, APA, $ 42.95
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Abstract
This paper discusses the Financial Accounting Standards Board (FASB) Statements of Financial Accounting Standards (SFAS) Nos. 48 and 49 and how these bulletins apply to the Conte company's agreement to purchase computer boards from the Frantek company and provide the financing necessary for Frantek to complete delivery to Conte in the form of a loan.
From the Paper
"In the 1981 FASB No. 48, Conte agreed to purchase the computer boards from Franktek and to provide the financing necessary for Frantek to complete delivery to Conte in the form of a loan. FASB No. 48 states that the revenue received by Frantek from Conte in regards to the 38,000 boards needed to be recognized because "all of the conditions specified by the Statement are met." Concerning the 41,000 boards remaining in Frantek's inventory at the end of the year, the revenue had not been received, and therefore did not have to be recognized, until they had been delivered, ..."
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"The Real Warren Buffett", 2007.
This paper looks at the book "The Real Warren Buffett" by J. O'Loughlin and discusses Warren Buffett's success in business.
932 words (approx. 3.7 pages), 1 source, MLA, $ 33.95
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Abstract
In this article, the writer points out that Warren Buffett is an acknowledged leader in business and investing. The writer explains that Buffet has worked at Berkshire Hathaway for nearly five decades and led it to great, even astounding, success. The writer notes that his ultimate philosophy that customers should conduct themselves like owners of the company, forms the backbone of his ideology and ultimately his success. The writer notes that Buffett's success has led others to emulate his business model, some of which is described in the book 'The Real Warren Buffett'. The writer concludes that other managers, no matter what industry they serve, would do well to follow Buffett's models and methods.
From the Paper
"Warren Buffett developed his role as a manager in the 1960s, after he had already spent 20 years as a successful stockbroker. Buffett believed to be a successful manager he should treat the business as his own, even if he was not the owner. He knew to do this; the ideas of management would have to change to reach this goal. He also knew he had to choose the right investments that would over the greatest gain and the least risk, just as if he were using his own money to invest. He decided to create a guarantee that assured his shareholders that their money would be returned to them if he could not give them a higher return than they could earn somewhere else. He also knew the people he managed would have to adhere to the same goals."
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Fraud: Tyco, 2007.
This paper examines the fraud fiasco at Tyco International Ltd.
2,139 words (approx. 8.6 pages), 8 sources, APA, $ 66.95
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Abstract
In this article, the writer notes that the 21st century saw the frauds committed by executives of Enron, WorldCom and Tyco. The writer points out that these frauds concern not a pitiful few thousand dollars in change but the betrayal of public trust, amounting to theft of billions of dollars over a period of several years. This paper focuses on the Tyco fiasco and examines it in detail. The writer discusses the actions of the three Tyco executives concerned and maintains that their downfall is their own doing and that they will spend most of their twilight years in prison with history books judging them as thieves and con artists of the grandest scale. The writer then concludes that these same individuals have ultimately contributed to the betterment of corporate social responsibility, corporate governance and fiscal responsibility because better and stricter regulations have been implemented to prevent re-occurrence of their actions not only at Tyco but other corporations as well.
Outline:
The Reckoning
Perpetrators and Discoveries
How Could It Have Been Detected Earlier
The Red Flags
Lack of Controls?
End Game
From the Paper
"In the contemporary setting, the men whom the gods wish to destroy are the icons of American industry that supposedly brought myriad riches to the coffers of various American corporations. But these industry and finance magnates forgot they are mere mortal, men of flesh and blood whose mortality is guaranteed. Yet for the power given to them, they felt they are demi-gods or gods themselves that could rule and conquer the corporations they supposedly lead. The beginning of the century saw the downfall of these gods of American corporations and the gods indeed deprived them of their senses - that of the sense of propriety, decency and humanity. Hence, the 21st century saw the frauds committed by executives of Enron, WorldCom and Tyco."
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Family Limited Partnerships, 2006.
A discussion regarding the pitfalls and usefulness of the transfer of assets to a family limited partnership.
4,543 words (approx. 18.2 pages), 20 sources, MLA, $ 118.95
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Abstract
This paper provides a review of the relevant literature to determine when a family limited partnership is appropriate. The paper analyzes the pertinent laws, including an examination of the Internal Revenue Code, regulations, case law and other rulings and matters that are relevant to a family limited partnership in general and tax planning in particular, to provide a comprehensive survey of the taxability of this business form. The paper concludes with a summary of the research and salient findings.
Outline:
Introduction
Review and Analysis
Analysis and Discussion
Conclusion
From the Paper
"Beyond the foregoing considerations involving the selection of appropriate structures, funding mechanisms and the tax advantages of using family limited partnerships as a business form, Crayne (2001) emphasizes that the implications of the personal use of partnership property by one or more partners for income tax purposes remains uncertain. In the corporate context, the preponderance of the precedential law to date suggests that the personal use of corporate-owned property may result in deemed income or dividends to certain shareholders; however, the authoritative guidance on the income tax implications of the personal use of corporate-owned property may not be completely relevant to the personal use of partnership-owned property because, under state law, all partners in the family limited partnership have an equal right to use all partnership property (Crayne, 2001)."
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The Specialty Coffee Market, 2007.
This paper explores current and future economic dynamics in the specialty coffee market.
1,453 words (approx. 5.8 pages), 12 sources, MLA, $ 48.95
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Abstract
The paper discusses the economic fundamentals of the law of supply and demand as well as of perfect competition to explore current and future economic dynamics in the specialty coffee market. The paper relates that demand for specialty coffees has experienced growth for some time, but suppliers are not receiving the expected increase in price because there is excess supply. The paper discusses how suppliers are turning to fair trade market agreements to get a better price, but points out that ultimately, production will have to adjust to the market realities of perfect competition where there would be production cutbacks and/or market exits.
Outline:
Introduction
Economic Theory
Demand in the Specialty Coffee Market
Supply in the Specialty Coffee Market
Conclusion
From the Paper
"The laws of supply and demand are the most important determinant of market structures (Economics basics: demand and supply). The law of demand states that, if all other factors remain equal, the higher the price of a good, the less people will demand that good and vice versa. The law of supply states that when the price of a good rises, holding other factors constant, producers will be willing to supply more of the product. Price, therefore, is determined by supply and demand. Economic equilibrium refers to a point where a market for a product has attained the price where the amount supplied of a certain product equals the quantity demanded."
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Offshore Banking, 2007.
An analysis of offshore banking and its effect on taxation.
4,139 words (approx. 16.6 pages), 14 sources, MLA, $ 111.95
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Abstract
The term "offshore banking" refers to the provision of financial services by banks and other agents to non-residents, a practice that has gained an increasing amount of notoriety in recent years. This paper provides a review of the scholarly and peer-reviewed literature to develop an overview of offshore banking and to identify regulations that have been implemented by U.S. and international agencies to reduce or eliminate the illegal activities and tax schemes that have been deployed by many Americans through the use of offshore banking. An analysis of how offshore banking has affected taxation in the United States is followed by a discussion of what can be done to monitor the activities of offshore banking. A summary of the research and salient findings are provided in the conclusion.
Outline:
Review and Discussion
Background and Overview.
The Impact of Offshore Banking on Taxation
Controlling Legislation
Monitoring Offshore Banking Activities
Summary and Conclusion
From the Paper
"Offshore banking centers allow actors in the financial markets that are so inclined to use international capital in ways that are not lawful in the more regulated country of origin. Indeed, the absence of regulation is attractive to the money launderer because they are provided with secrecy, a tax haven and the ability to move capital with ease. The International Monetary Fund has identified more than a dozen major offshore centers, many of them in the Caribbean, Southeast Asia and Europe (see Table 1 below); for instance, the Cayman Islands, with a total population of 30,000, hosts 550 banks (see Table 2 below), only 17 of which maintain a physical presence with the remainder conducting business primarily through telecommunications (Shelley, 1998). "
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The Financial Accounting Standards Board (FASB), 2007.
This paper evaluates the conceptual framework developed by the Financial Accounting Standards Board (FASB).
1,225 words (approx. 4.9 pages), 5 sources, APA, $ 41.95
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Abstract
This paper explains that the objectives of the FASB's conceptual framework are to identify the goals and purposes of financial reporting and their underlying fundamentals; however, it is more than two decades old and has fallen behind the times especially in the area of currency and scope. The author points out that, despite the best attempts by the FASB to provide frameworks and standards to regulate accounting practices, unethical management always seems to discover loopholes to make their accounting statements say whatever they want them to say. The paper states that principle-based standards help management work with auditors to exercise professional judgment in determining appropriate accounting; nonetheless, rules-based accounting does more to promote consistency and adherence to guidelines.
Table of Contents:
The Conceptual Framework Developed by the FASB
The Role and Ethical Considerations
Principles-Based Accounting vs. Rules-Based Accounting
From the Paper
"Some believe the solution for preventing unethical accounting conduct is to regulate as many accounting translations as possible. While closing loopholes should certainly be an objective of standards setting bodies such as FASB, unethical people will always find a new and better way to behave unethically if their corporate culture allows or encourages unethical behavior or if people behaving unethically simply believe they will not be punished for their conduct. Increasingly, accountants need to be trained in ethics in addition to improving financial skills."
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