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Sarbanes-Oxley Act 2002, 2006.
An analysis of the benefits and hardships on small businesses of the Sarbanes-Oxley Act 2002
3,487 words (approx. 13.9 pages), 13 sources, APA, $ 98.95
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Abstract
This paper explores the Sarbanes-Oxley Act of 2002 and the impact of the act on small businesses. As part of this review is an outline of the Sarbanes-Oxley Act of 2002 and an exploration of the importance of Sarbanes-Oxley conformity on the market and economy. It looks at the cost of implementation of internal controls and audit fees, provides a review of fraudulent behavior and a review of prior academic research. It also discusses the impact of Sarbanes-Oxley on small businesses and what, if any, is being done to help the small business community to conform to the new regulations.
Outline
Overview of Sarbanes-Oxley Act of 2002 (SOX)
Which Companies Need to Comply With Sarbanes-Oxley?
Why is The SOX Act of 2002 Significant?
How Can SOX Help Small Businesses
Information Technology Solutions for SOX Compliance
What is the Impact of SOX on Smaller Businesses?
Is There Any Help for Small Business Compliance?
Are There Significant Findings in Academic Research?
Finally - Fraudulent Behavior
Conclusion
From the Paper
"One of the main focal points of SOX is to bring back investor confidence by forcing corporate accountability and giving the corporations the mechanisms to do so. Investor confidence is extremely important for the survival of the economy. As investor confidence declines so does the stock market and as a result we will also see a decline in the economy's health. When investors lose confidence in the market, consumers tend to spend less and less on big ticket items such as putting off buying a new car.6 If the economy continues to lose confidence the lack of big ticket purchases and the undervaluing of stock will begin to hurt businesses. "
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Rent Control, 2006.
Examines the economic, social, and political issues of rent control.
1,351 words (approx. 5.4 pages), 4 sources, APA, $ 45.95
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Abstract
The economic quandary of rent control has successfully perpetuated itself in many different American communities for several reasons. Social beliefs and political controls have allowed for renters to retain their protected "right" to cheap rent at the expense of the rights of land owners and others who would hope to prosper from a free competitive housing market in these select cities. This paper details the economic, social, and political elements of rent control in large cities. It outlines both the positive and negative elements involvement, and draws an overall conclusion based on economic policy.
From the Paper
"Opening up premier properties to the market would spark interest and allow property owners to determine supply and demand. Property owners can determine how many properties they would like to rent as well as the amount for which they will rent them. These land owners will most likely choose to rent out as many properties as possible at the highest rate the market will endure. This will allow the above increase in supply that should prevent prices from going too high".
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Blockbuster Inc. vs. Netflix Inc., 2006.
This paper is a comparative analysis of Blockbuster Inc. and Netflix Inc., both movie rental companies, using financial ratios based on their respective income statement information covering the five-year period of 2001 to 2005.
1,085 words (approx. 4.3 pages), 1 source, APA, $ 37.95
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Abstract
This paper uses four types of financial ratios---leverage ratios, liquidity ratios, efficiency ratios and profitability ratios---to summarize large quantities of financial data from Blockbuster Inc. (BBI) and Netflix Inc. (NFLX) and to compare their performances. The author points out that, because Blockbuster Inc. carries the heavy weight of debt, if Blockbuster loses market share and revenues are spread thinner, they will have a hard time repaying that debt. The paper states that current trends in this industry are in Netflix's favor because more and more people are opting not to drive to their local video store but rather have several selections mailed to them at once; however, both companies are challenged by companies that sell movie downloads. Many tables.
Table of Contents
Leverage Ratios
Total Debt Ratio (Debt to Assets) = Total Liabilities / Total Assets
Liquidity Ratios
Current Ratio = Current Assets / Current Liabilities
Quick Ratio = Cash + Marketable Securities + Receivables / Current Liabilities
Net Working Capital to Total Assets Ratio
Efficiency Ratios
Asset Turnover Ratio = Sales / Average Total Assets
Profitability Ratios
Net Profit Margin = Net Income / Sales
Operating Profit Margin = Net Income + Interest / Sales
Return on Equity = Net Income / Average Equity
Conclusion
From the Paper
"In liquidity ratios there is a major focus on current assets. Efficiency ratios judge how effectively the company is using them. The asset turnover ratio shows how hard the companies' assets are working for them or against them. [Table: Yearly Asset Turnover Ratio] Blockbuster as expected has a steadily increasing Asset Turnover Ratio as their assets are older and more depreciated. Netflix and their assets are young compared to that of Blockbusters' and is evident in their highly erratic ratios. You can see spurts of growth between each year. Their numbers are greater in response to having less overall total assets than Blockbuster and their thousands of stores possess."
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Formation and Structure of a Limited Liability Company, 2005.
An evaluation of the establishment of a limited liability of a corporation with a partnership-like tax structure.
2,100 words (approx. 8.4 pages), 7 sources, MLA, $ 65.95
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Abstract
This paper provides an overview of all aspects of limited liability companies (LLC). With the exception of corporate entities, the LLC is the only form of legal entity that lets all of its owners off the hook for business debts and other legal liabilities, such as court judgments and legal settlements obtained against the business. This paper studies the legal and tax-structures of LLCs, such as membership, capital contributions and legal precedents and trends regarding LLC tax structure. They paper pays close attention to the similarities and differences between LLCs and partnership arrangements.
Members of LLCs
Legal Challenges of International LLCs
Legal Trends
Capital Contributions
From the Paper
"In some states, professionals such as lawyers, doctors, veterinarians, architects, life insurance agents, and accountants are allowed to set up LLCs. These are designated Professional Limited Liability Companies (PLLCs) and have the same characteristics as regular LLCs. A domestic LLC is one that is formed in the state where the business is conducted. A foreign LLC is one that is formed in a state other than the one where the business is being conducted. A person would choose to form a foreign LLC because another state may have more business laws than the state where the business is being conducted."
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Cash and Accrual Accounting, 2005.
This paper discusses two basic methods of accounting, cash and accrual and describes differences in managing these methods.
930 words (approx. 3.7 pages), 6 sources, APA, $ 33.95
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Abstract
This paper explains that, in cash basis or cash accounting, businesses record transactions only if they involve the payment or receipt of cash, which does a poor job of matching revenues earned with money laid out for expenses. The author points out that, in accrual accounting, the economic impact of a transaction is recorded whether or not the transaction involves cash, which does a better job of matching revenues with expenses and of handling items such as property and equipment. The paper relates that the four statements used in the accrual method accounting are the balance sheet, the income statement, the statement of cash flows and the statement of stockholders' equity.
From the Paper
"An example would be a purchase of supplies in July but the supplies are not sold until August. You receive the cash in August. However, when the books are closed all you have to show for July is an expense for supplies but no revenue to offset it, meaning there is a loss for that month. This can make it difficult for a business to determine whether or not it is earning a profit because all its business activity does not always fall on the same month. It also has trouble tracking anything other than cash. For example if you purchased equipment or property the cash method of accounting would show the purchase and disbursement in the month of purchase. These items, however, will be used over a period of time."
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Indian Oil Corporation, Ltd., 2006.
This paper is an analytical review of the financial results for the year ending March 31, 2005 and its financial position, as of that date, for the Indian Oil Corporation, Ltd. (IOC) in India.
3,570 words (approx. 14.3 pages), 7 sources, MLA, $ 99.95
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Abstract
This paper explains that Indian Oil Corporation Ltd (IOC) is the flag-ship national oil company of India, which sells cooking gas, petrol and diesel through retail stations and aviation fuel, and includes a subsidiary, IBP Co. Ltd., as a stand-alone marketing company with a nationwide network. The author points out problems with the investment ratios; earnings per share (EPS) and dividend per share (DPS) have dropped during 2004 and 2005 because of the reduction in profits during these years. The paper concludes that some of the risk factors, which will significantly influence IOC's ability to sustain its strong profitability and financial position in the future, are its huge borrowings from various banks and fluctuating fuel prices; however, the author recommends investment in the company because it has the potential to grow and the present financial downstream is mainly due to some situations, which are now under recoveries, and other specific bank borrowings. Many charts. Illustrations. Attractive presentation.
Table of Contents
Aim and Objective
Review Highlights
Company Profile
Financial Overview
Financial Performance
Key Financial Indicators (Ratio Analysis)
Profitability
Liquidity
Current Ratio and Quick Ratio
D/E
Interest Coverage Ratio
Efficiency
Receivable Collection Period
Payable Period
Stock Turnover Period
Operating Cycle
Rate of Return Ratios
Return on Total Assets (ROTA)
Return on Capital Employed (ROCE)
Return on Fixed Assets (ROFA)
Return on Working Capital (ROWC
Investment ratios
Earnings per Share (EPS) and Dividend per Share (DPS)
Dividend Yield
Dividend Payout Percentage
Price / Earnings Ratio (P/E Ratio)
Cash Flow Analysis
Critical Review of Key Accounting Policies
Foreign Currency and Derivative Transactions
Fixed Assets and Depreciation
Provision on Capital Account
Goodwill Amortization
Review of Financial Reporting Standards
Information Accompanying Financial Statements
Operating Performance Review
Marketing
Proactively Addressing Environmental Issues
Corporate Governance
Inter-Industry Comparison
Leverage
Profitability
Rate of Return
Efficiency Ratios
Investment Ratios
Market Perception and Future Outlook
Outlook for IOC
Conclusion
Index
From the Paper
"IOC's consolidated audited financials as at 31.03.2005 was audited by a group of certified auditors from the Institute of Chartered Accountants, India, which is in accordance with Accounting Standard (AS-21) and the financial statements of joint ventures have been combined by applying proportionate consolidation method in accordance with Accounting Standard (AS-27) on "Financial Reporting of Interests in Joint Ventures" issued by the Institute of Chartered Accountants of India."
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Delivery Service Companies' Financial Health, 2005.
This paper examines the ratio analysis and statement of cash flows of United Parcel Service (UPS) and Federal Express Corporation (FedEx).
1,995 words (approx. 8.0 pages), 6 sources, APA, $ 63.95
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Abstract
This paper explains that investors can evaluate the desirability of investing in United Parcel Service (UPS) and Federal Express Corporation (FedEx) by examining their financial statements, such as the cash flow statements and the annual reports, which these publicly traded companies are required to file with the Securities and Exchange Commission (SEC). The author points out, when evaluating cash flow statements, it becomes apparent that many internal events affect the cash flow position of the organization such as an increase of expenses rising in comparison to the previous year in gas prices. The paper relates that analysis ratios, such as Current Ratio, Return on Sales, Earnings per Share (EPS), Debt Ratio, and Price to Earnings (PE) Ratio, are helpful in determining a company's solvency, liquidity and profitability; both companies are liquid and solvent because both companies' current assets (cash, accounts receivable, inventory and short-term investments) outweigh their short-term liabilities. Chart.
Table of Contents
The Cash Flow Statement - UPS
Cash Flow Statement - FedEx
Internal Events - UPS
Internal Events - FedEx
Revenue and Net Income
Financial Analysis Ratios
Discussion
From the Paper
"The Income Statements generated by these organizations also help any outsider gain insight into these organizations' revenue and net income statistics. United Parcel Service Inc. conducts its financial statements through a calendar year, starting on January 1 and ending on December 31. Over the last couple of years, the company's revenue has increased by $5.31 billion. December 31, 2002, finished with an amount of $31,272,000,000 in total revenue, followed by $33,485,000,000 on December 31, 2003. The most recent revenue is of $36,582,000,000 for the end of last year, December 31, 2004. It would be extremely welcoming for UPS to maintain all of its revenue; however, there are other expenses and costs that the organization must pay accordingly, which leads to the anticipated number of Net Income. UPS' Net Income continues to grow along with its revenue. On the December 31, 2002, UPS' books show a net income of $3,182,000,000."
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Financial Analysis and Improvement Model, 2005.
Presents a model for measuring the financial health of companies using ratios, accounting analysis and industry benchmarking.
4,311 words (approx. 17.2 pages), 6 sources, APA, $ 114.95
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Abstract
This paper presents a methodology for evaluating the financial health of a company and provides a model for determining and recommending corrective actions to management. Key profitability, asset management, liquidity and debt management ratios are analyzed. Financial performance is compared to industry and bench-marked to the industry leader. Free cash flow is calculated and analyzed. Improvement recommendations to management are made based on the analysis. Using the recommendations a pro forma income statement and balance sheet is prepared for the upcoming fiscal year.
From the Paper
"The inventory turnover ratio shows how many times that inventory are sold during the year (Downes & Goodman, 1998, p. 294). The turnover ratio is slightly below the industry and the Leader Corporation. The company is carrying excessive inventory, which costs money that could be used elsewhere (p. 294). Management should evaluate the inventory control process. Minimizing inventory can reduce storage costs (warehousing) and protect the firm from falling prices (p. 294). These cost reductions will further enhance profitability. The inventory turnover ratio is projected to climb to over 13 % in 2004. This is primarily due to the reduction in inventory (loss). Management should manage the reduction in inventory gradually starting in 2002, this will allow some of the inventory to be sold vs. discarded as planned."
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Profit, 2004.
An analysis of the definition of profit measurement.
1,564 words (approx. 6.3 pages), 5 sources, MLA, $ 51.95
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Abstract
This paper considers the development of the accounting concept of profit. The paper considers the methods of measuring profit under various accounting systems and also analyses how profit is reported under GAAP.
Outline
Introduction
Profit Defined
Capital Maintenance
Determining Profit
Historical Cost Accounting
Current Cost Accounting
Reporting Profit
Conclusion
From the Paper
"The second measure of capital maintenance is maintenance of physical capital. This measure was born of the belief that there were inherent shortcomings in historical cost accounting and its objective of maintaining money capital. Instead, maintaining intact a monetary measure of wealth, this measure seeks to maintain the operating capacity of the firm, or the purchasing power of its wealth. Maintenance of physical capital is the objective in accounting systems using current costs (Henderson et al., p. 85-7)."
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Bonds and Shares, 2005.
An overview of the advantages and disadvantages in investing in bonds and shares.
1,308 words (approx. 5.2 pages), 17 sources, MLA, $ 44.95
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Abstract
Investors require a return to compensate for any uncertainty associated with cash flows associated with investment. This paper examines how, in the world of investment, all investors walk the line between greed and fear and how stocks and bonds are suitable investments for most individuals.
Outline
Advantages of Buying Different Types of Bonds
Rate of Return of the Bonds
Risk of Bonds
Interest Rates and Bonds
From the Paper
"Most investors want to earn the highest possible yield and growth rate with the lowest possible risk. But maximum profit and low risk are not compatible attributes. As a bond investor, they must be aware of relationship between the risk and potential reward, or opportunity. Risk in its many forms will determine whether an investment is appropriate or not and will it earn the yield you wanted. The different kinds of bond risk are: (1) interest rate risk, (2) default risk, (3) business risk, (4) marketability risk, (5) inflation risk, and (6) event risk."
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The Employee Retirement Income Security Act of 1974 (ERISA), 2006.
A look at ERISA and the rules it provides for retirement plans offered by employees.
3,159 words (approx. 12.6 pages), 4 sources, APA, $ 91.95
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Abstract
This paper discusses some differences between defined contribution and defined benefit retirement plans; the differences between 401 (k) and 403 (b) plans; the fiduciary requirements imposed by ERISA; and the non-discrimination rules imposed by ERISA.
From the Paper
"Although maximum percentage of compensation limits have now been eliminated for benefits under defined benefit plans, maximum dollar limits have not. These limits typically affect only a few employees, but applying them can be an issue given typical constitutional restrictions on modifying benefit formulas for existing employees."
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Enron, 2005.
An overview of the build up to the Enron scandal.
1,857 words (approx. 7.4 pages), 7 sources, MLA, $ 59.95
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Abstract
This paper briefly looks at the history of the formation of Enron and the management style of the company. It looks at how the stock holders were of great importance of how they trusted the accounting firm appointed by them to audit their stocks. The collapse of Enron following the accounting scandal is then discussed.
From the Paper
"In the years after the Enron scandal, bookkeeping has taken a hard hit. Financial statements' creation and analysis has begun to be called into question. In today's society in which the distance between auditors and corporations has decreased so much, there needs to be more regulation. "The SEC has proposed stronger oversight of auditors' objectivity. Bolstering accounting coverage for innovative transactions is likely on the way. Mandating rotation of external auditors is also being considered" (Tannenbaum, 64). All of these are works in progress, but there is chance that they may be implemented in the future."
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The Efficiency Wage, 2004.
This paper analyses the practice of some firms to pay a wage above the market clearing wage level called the efficiency wage.
1,920 words (approx. 7.7 pages), 7 sources, APA, $ 61.95
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Abstract
This paper explains that some firms, especially in third world economies, will attempt to increase their profits by improving their worker productivity by paying a wage that is above the wage paid by other competing firms because, at the market level wage, workers may not get the necessary nutrients they require in order to carry out the working day's hard labor and to maintain a healthy lifestyle. The author points out that the ability of a firm to increase profits by setting these wages may not necessarily apply in other more industrialized labor markets where there is not a strong correlation between worker productivity and their nutritional intake. The paper relates that the efficiency wage model indicates that the behavior of a firm seeking to increase its profits is no longer limited to just decisions on how many workers to hire.
From the Paper
"It has been mentioned once before in this essay that efficiency wages may not necessarily hold true in today's modern, industrialized economies. However, there is empirical evidence that efficiency can hold true in an industrialized setting and not just in a subsistence one. If this is the case, then the economic rationale behind firm's setting wages above the market clearing wage, is a sound rationale. There is evidence that shirking-related employee problems are reduced when companies pay higher salaries. A study of large manufacturing companies in the United States shows that fewer workers are dismissed for disciplinary reasons when a firm pays a high rate of wage. In particular, a 10 percent increase in the wage reduced the rate at which workers were dismissed for disciplinary reasons . Hence, the economic rationale behind firms setting an efficiency wage is very plausible indeed, as back by empirical research such as this."
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Fannie Mae Scandal and Corporate Governance, 2004.
Details the recent corporate governance scandal at Fannie Mae and the changes in corporate governance that were made as a result.
3,000 words (approx. 12.0 pages), 18 sources, MLA, $ 88.95
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Abstract
The Federal National Mortgage Association or Fannie Mae, a government chartered company, provides mortgages for low-incomes persons. Following an introduction, this paper provides information about Fannie Mae, including background information on the corporate governance scandal where top executives manipulated accounting to hit targets and receive lucrative bonuses. Thirdly, recent changes in corporate governance including the Sarbanes Oxley Act are discussed. Additionally some recommended changes in corporate governance at Fannie Mae are included.
Paper Outline:
Introduction
Background of Fannie Mae Scandal
Issue
Recent Changes in Corporate Governance Which May Help Elevate Problems
Recommended Changes in Corporate Governance for Fannie Mae
Conclusion
References
From the Paper
"Corporate governance, or the way a company is managed, can make or break that company as well as affect lenders, stockholders, and the market as a whole. Corporate governance is best defined as the means by which stockholders ensure that officers and directors will act in the best interest of the corporation instead of in their own best interest. Corporations set up a board of directors and appoint officers to run the company, although the true owners of the company are the stockholders whose money is at stake. It is the officers which play a substantial role in determining whether or not stockholders get a return on their investment. Stockholders entrust the officers to do what is right for the company as well as keep them informed of the financial state of the company through proper reporting. Although the corporation has significant control over the reporting process, there are strict rules which it is required to follow. Sometimes, however, accounting principles are violated by corporate officers in order to increase their own compensation in the form of bonuses".
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Equity: Equitable Doctrines, 2005.
An analysis of to what extent the Courts are willing to overlook equitable maxims in order to achieve practical justice.
3,825 words (approx. 15.3 pages), 6 sources, APA, $ 104.95
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Abstract
This paper endeavours to establish whether six influential judicial decisions have extended orthodox equitable principles as an effort of achieving practical justice. The maxims of equity are closely adhered to as its principles are reflected and upheld via a strong body of case law. It looks at how, despite equity's tendencies of protecting their maxims as a means of providing a flexible alternative to the common law, some modern judicial activists as well as academics have sought to expand, and at times overlook the nexus of equitable principles in order to achieve practical justice.
Outline
Introduction
The Impact of Six Influential Judicial Decisions
From the Paper
"Equally, the growing significance the utilitarian application of trusts for commercial purposes have implied a more modernised approach of trusts law. Consequently, this essay will also examine whether equity has departed from its traditionally devised means of providing trusts over land and over the family home to become a method of aiding and protecting many commercial dealings. Indeed, it may be argued that orthodox principles of equity are aptly suited to the historical applications of trusts in the context of family settlements, however lack real significance in the modern world of commerce and forms of increasingly complex trusts."
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Accounting for Managers, 2004.
An analysis of the necessity of easy-to-understand financial statements.
1,129 words (approx. 4.5 pages), 3 sources, MLA, $ 39.95
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Abstract
This paper discusses the view that it is impossible to satisfy the needs of different users with a single set of published accounts. The paper contends that without standards, users of financial statements would need to learn the accounting rules of each company and comparisons between companies would be difficult.
From the Paper
"The Accounting Standards Board was working for some time to produce a definite Statement of Principles for financial reporting. The statement of Principles is a description of the fundamental approach that the ABS believes, should, in principle, underpin the financial statements of profit orientated entities. The Statement is intended to be a comprehensive and reasonably detailed description of that approach, and the approach itself is intended to be internally consistent, up to date and in line with the approached adopted elsewhere in the world. (ABS 1999)"
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Accounting for Managers, 2005.
A look at company budgeting processes and their importance.
932 words (approx. 3.7 pages), 3 sources, MLA, $ 33.95
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Abstract
This paper discusses the importance of the budgeting process to the success of an organization and explains that while the implementation and operation of systems of budgeting and budgetary control are very time consuming, if done properly it is time well spent.
From the Paper
"A budget is a financial or quantitative plan of operations for a forthcoming accounting period. Planning and budgeting are critical mechanisms of any organization because they are a means of translating
strategy into a consistent set of plans and points as well as a basis for objective assessment and alignment. Most of the organizations are controlled by a lack of resources. Government and private industry alike must decide in which activities to participate, and how much money should be allocated to those activities. In order to make these determinations, the annual budget is developed. Developed for individual departments, divisions, subsidiaries and the company as whole, budgets enable organizations to distribute resources across alternative uses."
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Control and Trust, 2005.
A look at the definition of control and trust and how they work in managing uncertainty within organizations.
2,750 words (approx. 11.0 pages), 24 sources, MLA, $ 82.95
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Abstract
Trust has been proposed as an alternative and more appropriate way to controlling uncertainties under the emergence of new developing economies and the shift from traditional national markets to global markets. This paper attempts to outline the definition of control and trust and how they are seen as useful tools in managing uncertainty that stems from the agency problem within the organization. It also addresses the likely problems that are caused when managing new organizational forms using a traditional management accounting system.
From the Paper
"There are a variety of ways to categorize and conceptualize control systems: formal versus informal controls, behavior versus outcome controls; mechanistic versus organic controls; bureaucratic versus social controls. However, with regards to formal designed controls, some researchers make a distinction between outcome controls and behavior controls (Ouchi, et al, 1979) Performance measurement is one of the techniques used as an outcome controls measure and to monitor the outputs of operations or behaviors. Whereas behavior controls, such as rules and standard operating procedures, are being utilized to specify and monitor individuals' behaviors (Ouchi, et al, 1979)."
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