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Aggressive Pricing, 2005.
A look at the use of aggressive pricing within the toy market.
1,801 words (approx. 7.2 pages), 6 sources, APA, $ 57.95
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Abstract
This paper covers the pricing of toys to secure the top market position and uses Wal-Mart, Toys "R" Us and Kaybee Toys to compare different pricing strategies. It looks at several different ways marketers set a specific price for a certain product and market group and how they maintain this area. Finally it discusses Wal-Mart's market in toys to see why the most popular toy item projects them as a loss leader and why they choose this avenue.
From the Paper
"In 2003 if you took a snap shot of the toy market you would have seen that Toys 'R' Us had the biggest market hold on the toy market. This is the year that Wal-Mart turn to their price cutting method use to draw in customers. They did this in the most simplest of ways...slashing their prices so that people couldn't pass up the good deals. I know I didn't pass up they deals. I haven't shopped at Toys-R-Us in quite a few years! They have almost created a dependency. They tactic was to use Toys-R-Us as the price marker and use them as the bar to set their prices and in most cases they were substantially cheap than the toy giant. Since the majority of the shoppers at Wal-Mart are in there because they want a bargain this only made sense. In most cases one could save up to 6 dollars when purchasing a single item. "
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Being a CFO, 2005.
A personal investigation about what it takes to be a CFO.
1,393 words (approx. 5.6 pages), 4 sources, APA, $ 46.95
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Abstract
This paper covers the complexity of being a modern chief financial officer in a large company. The paper takes a look at what governs the CFO in business today and examines whether or not the writer would want to be a CFO.
From the Paper
"After looking through the article "The CFO's Great Balancing act" I would have to express the opinion that it would a lot more difficult to be a CFO in today's market. Many factors play a role in a company's financial position. Today the amount of pressure placed on generating a profit has really escalated. It appears at no time would a CFO be able to predict exactly what's expected of them since the market keeps generating new desires. In this paper, we will cover some of the difficulties placed on the modern CFO and analyze some possible hurdles they might have to overcome to meet the CEO's demands and look at what laws or Acts that have been put in place to help govern their responsibilities."
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Steinway & Sons and Accounting Methods, 2005.
A look at the piano company, Steinway & Sons and the use of activity-based costing.
1,237 words (approx. 4.9 pages), 4 sources, APA, $ 42.95
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Abstract
This paper provides background information about Steinway and Sons. It then explains what activity-based costing is and whether this would be a good method for the company. The writer looks at the advantages and disadvantages of the method and discusses how an accounting method can effect a company's success..
From the Paper
"Looking at the business of Steinway & Sons, I have been tasked to make a decision as to whether or not they would be a good candidate for Activity Base Costing. To this, I say there are some positives and negatives to using Activity Based Costing. We will discuss how Activity Based Costing would affect Steinway & Sons if they were to adopt this method of accounting."
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Financial Ratio Analysis of Lowes and Home Depot, 2004.
An exploration of the different financial ratios used to determine profitability and financial stability of a company.
2,644 words (approx. 10.6 pages), 2 sources, APA, $ 79.95
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Abstract
This paper focuses on two large retailers in the area of retail home improvements, Lowes and Home Depot, and compares and contrasts their financial ratios in a five-year trend table along with the most recent industry averages. The information presented in this report can be used to help determine the over-all financial status of these two companies.
Financial Ratios Used
Home Depot
Lowes
Efficiency Ratio Analysis
Liquidity Ratio Analysis
Leverage Analysis
Profitability Analysis
From the Paper
"The inventory turnover ratio shows how many times per year a business can turn-over its inventory. In other words, this number represents how many times the business sells out of its inventory in a given year. This ratio is calculated by taking the cost of goods sold and dividing it by the average amount of inventory the business carries. Notice that these ratios are determined by the cost of goods sold because the inventory figures are carried on the boots at cost, not the price the merchandise will eventually sell for (Brealey, pg. 142). When comparing Lowe's and Home Depot to the industry average, we see that both companies' ratios were 5.0 for the year 2003 and the industry average was 4.8. This means that for the year 2003, both Lowe's and Home Depot were able to turn over their inventory a bit faster than the industry as a whole. "
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Accounting for Income Taxes, 2005.
Discussion of the Exposure Draft (ED) released on July 14, 2005 by the Financial Accounting Standards Board (FASB).
4,358 words (approx. 17.4 pages), 11 sources, APA, $ 114.95
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Abstract
The Financial Accounting Standards Board released an Exposure Draft on July 14, 2005, entitled "Accounting for Uncertain Tax Positions, An Interpretation of FASB 109, Accounting for Income Taxes". This draft was released for comment before its implementation as part of the Generally Accepted Accounting Principles for entities to use in preparation of their financial reports. This paper shows that the purpose of the Exposure Draft is to resolve widespread diversity in accounting for income taxes by requiring firms to recognize in their financial statements the best estimate of the impact of a tax position. The paper shows that the ED also contains guidance for measuring the benefit that is recognized for an uncertain tax position and when that position should no longer be recognized. The paper examines comments by critics who feel that the Exposure Draft is complex, may be difficult to implement and could result in significant overstatements of firms' tax liabilities.
Paper Outline:
Abstract
Introduction
Background
Financial Reporting vs. Tax Reporting
Purpose of FASB 109, Accounting for Income Taxes
Findings
Purpose of the FASB's Exposure Draft
Discussion
Conclusion
References
From the Paper
"The temporary differences between the U.S. income tax rules and the GAAP requirements for financial reporting result in some income tax expense being recorded long before it is paid creating a deferred income tax liability (Horngren, et al., p. 340). These temporary or timing differences arise because some revenue and expense items are recognized at different times for tax purposes than for financial reporting purposes. Timing differences may accumulate over more than one year and create variations between the tax basis of an asset or liability and its reported amount in financial statements. These temporary variances usually become taxable or deductible when the related asset is recovered or the related liability is settled. A deferred tax liability or asset represents the increase or decrease in taxes payable or refundable in future years as a result of temporary differences and carry forwards at the end of the current year (FASB, 1992)."
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Cost Accounting, 2005.
This paper discusses the roles and uses of cost accounting in a firm's decision-making processes.
3,800 words (approx. 15.2 pages), 13 sources, APA, $ 104.95
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Abstract
This paper explains that cost accounting is a part of managerial accounting: Whereas financial accounting is concerned with recording actual financial transactions, managerial accounting is concerned with the discovery of relationships in financial data. The author points out that one of the critical factors involved in cost accounting is the differentiation of fixed costs, which must be borne by a firm regardless of activity levels, and variable costs, which fluctuate according to activity levels, so that managers are able to construct break-even charts and other decision-making and control tools. The paper states that the three principal functions of standard cost systems are (1) identifying the actual costs of operation, (2) determining the achievement of the production operation, and (3) evaluating the performance of the production operation.
Table of Contents
Introduction
Cost Accounting: Definition, Roles, Concepts, and Applications
Standard Costs
Transfer Prices
Summary
From the Paper
"Production costs are also considered in the contexts of full costs, direct costs, indirect costs, job costs, process costs, standard costs, joint costs, and others. These costing concepts are all a part of the cost accounting process. Each of these concepts provides the manager with a different perspective of costs. These different perspectives may provide a means of enhancing the efficiency of an operation, without damaging the integ?rity of the firm, even though most of the costs derived through the application of these concepts of costs will differ from the costs derived through the application of financial accounting concepts. The use of costs derived through the application of these managerial accounting concepts permits managers to make valid and rapid decisions on the basis of performance variances from managerial accounting cost factors or ratios."
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The General Electric Company, 2005.
This paper reviews the history of the General Electric Company and analyzes its current financial status as of the first quarter of 2005.
3,820 words (approx. 15.3 pages), 7 sources, APA, $ 104.95
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Abstract
This paper examines the timeline of growth of General Electric from the year of its conception to the present day; in 2005, GE reorganized its 11 businesses into six industry-focused businesses: GE Infrastructure, GE Industrial, GE Commercial Financial Services, GE NBC Universal, GE Healthcare and GE Consumer Finance. The author analyzes the first quarter 2005 earnings in terms of changes in earnings per share of the organization, revenue and operating margins and factors underlying the financial performance of the major subsidiaries using GE's Annual Earnings, Quarter Earnings, Balance Sheets and Cash Flow statements. The paper relates that orders grew for major equipment and services, which bodes well for performance in the coming months; management expects 2Q revenue to be up 10%, with profit growth of 15%, implying an operating margin of 21.7%. Charts.
Table of Contents
Quick Facts
Top Competitors
Rankings
Key People
Growth -Present Day
Structure and Divisions
Financial Comparison and Forecasted Data 2003-2006
Annual Income Statement
Quarterly Income Statement
1st Quarter of 2005 Analysis
Earnings
Revenues
Cash
Quarter Highlights
Transportation
Energy
Consumer Finance
Commercial Finance
Healthcare
NBCU
Advanced Materials
Infrastructure
Insurance
Consumer and Industrial
Equipment and Other Services
Definitions
From the Paper
"In 1876,Thomas Alva Edison, inventor of such groundbreaking technologies as the incandescent electric light bulb and jet engine, opened a new laboratory in Menlo Park, New Jersey. This new and better-equipped laboratory was the birthplace of his most famous invention- the incandescent electric lamp. By the year 1890 he had organized his various businesses into the Edison General Electric Company. However, with the expansion of its businesses it became increasingly clear that it was not feasible for the company to produce complete electrical installations relying solely on its own technology. Hence, in 1892, Edison General Electric Company merged with the Thomson-Houston Company (which was infact a conglomeration of many competitors of GE) and they combined to form the General Electric Company with its headquarters in Schenectady, New York, which became the largest electrical company in American industry."
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Capital Financing in Health Care, 2005.
Examines the importance of capital financing in the health care field.
746 words (approx. 3.0 pages), 3 sources, APA, $ 26.95
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Abstract
As in any business, capital financing in the health care field, is very important. Without proper financial planning, budgeting and working capital, a company is headed for financial ruin. This paper shows that obtaining capital can be done in various ways and should be well planned and executed. If properly planned, a business has a good chance of survival. Without planning, bankruptcy could be the result.
From the Paper
"St. Vincent's Catholic Medical Centers, a New York healthcare provider, announced that it would file Chapter 11 bankruptcy protection after losing its working capital loan. St. Vincent's defaulted on $30 million of its pre-petition loan committed by HFG (Healthcare Finance Group), which had agreed to provide a total of $100 million, in DIP (Debtor-in-Possession) financing. DIP financing is used in bankruptcy so that while the bankruptcy is being processed the business will have working capital for the duration. In many cases, DIP financing is considered attractive because it is done only under order of the Bankruptcy Court and allows the company to execute a Plan of Reorganization (POR)."
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Health Care Budgeting, 2005.
This paper discusses the impact of government laws and regulations on budgeting by health care facilities.
1,005 words (approx. 4.0 pages), 3 sources, APA, $ 35.95
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Abstract
This paper explains that health care budgeting is one of the most difficult tasks that companies face because it must be modified regularly to reflect frequent and complex changes in government policies and Medicare and Medicaid rate changes. The author points out that the most dramatic affect that Medicare and Medicaid has on health care facilities is the ever changing reimbursement rates, which fluctuate every quarter and are not known to the company in advance so trying to budget for an intangible balance can be an uphill battle. The paper concludes that, until the federal and state governments are able to properly and effectively balance their own financial budgets, all health care companies must regularly take steps to be as prepared as possible for the changes that affect their company budgets.
Table of Contents
Introduction
Budgeting Process
Government Laws
Affects On Budgeting
Conclusion
From the Paper
"The budget for the health care industry can be greatly affected by government laws that can change frequently. These changes can have a negative as well as a positive affect on health care. The government is focused on balancing the budget, as well as, keeping the social and financial interests of the people in mind. As the Social Security, Medicare and Medicaid programs start to lose money the government must concern itself with how to keep the programs running. Lowering payments for health care is one option the government uses to stop the loss of money to fund the program. This action can affect the health care company's budget by giving the organization less money to work with then they originally budgeted. Another way to increase the programs is to increase taxes the company has to pay in order to raise the needed funds to keep the programs afloat. This can also increase the budget for organization and force companies to use previously allocated funds into the tax budget."
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Accounting Systems, 2005.
A look at the process in moving from a manual to a computerized accounting system.
2,154 words (approx. 8.6 pages), 2 sources, MLA, $ 67.95
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Abstract
This paper examines the process of transferring an organization's accounting system from a manual to a computerized system. It looks at the advantages and disadvantages of such a move and explains the problems that could occur. The different steps in the process are explained and detailed.
From the Paper
"In accounting systems, certain controls are needed to ensure that employees are doing their jobs properly and ensure that the system runs properly. These checks are in the best interest of the organization. These controls come in the form of internal and external controls for the system. The internal controls are the checks that are placed in the system my the company's own management and directors. Today more and more companies are moving from the manual accounting systems to computerized accounting information systems. The advantages of a computerized system are increases in the speed and accuracy of processing accounting information."
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Credit Unions and Commercial Banks, 2003.
The looming battle between credit unions and commercial banks.
2,690 words (approx. 10.8 pages), 10 sources, MLA, $ 80.95
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Abstract
This paper examines how banks and credit unions function to identify commonalities and differences, followed by a summary of the research in the conclusion. The paper includes two appendices with several on-point graphs concerning credit union deposits and assets over the years, as well as a statistical table.
From the Paper
"Capital plays a key role in all economic activities in both banks and credit unions. There are some differences between the two, but the distinctions are becoming less clear. The business of banking generally consists of borrowing and lending capital. As in other businesses, operations must be based on capital, but banks employ comparatively little of their own capital in relation to the total volume of their transactions. By contrast, credit unions use the capital of its own members to make loans within the membership. This paper will examine how banks and credit unions function to identify commonalities and differences, followed by a summary of the research in the conclusion."
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Auditor Liability, 2004.
A discussion of the developments in the effort to limit the liability of auditors and firms providing audit services.
1,914 words (approx. 7.7 pages), 16 sources, MLA, $ 61.95
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Abstract
Following the collapse of Enron and WorldCom and the flow on effects to Arthur Anderson, legislatures world wide are recognising the need to reform the exposure of auditors and their firms to claims of negligence. This paper examines the merits of limiting the legal liability of auditors. The paper considers the measures recommended in Corporate Law Economic Reform Program (CLERP 9) and explores other practices adopted around the world.
From the Paper
"Many of the principles setting out the legal liability of auditors are found in the common law. In the case Re: London & General Bank Ltd (No. 2) , the court held that an auditor must exercise reasonable care and skill, the level of which was dependant on the circumstances. These findings were confirmed in Re: Kingston Cotton Mill Company (No. 2) , where Lopes stated that the auditor was "...a watch-dog, but not a bloodhound" and that he was only required to investigate matters which aroused suspicion. These standards of reasonable care and skill are not static, they change with time, per the findings of Pennycuick J in Re: Thomas Gerrard & Son Ltd."
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Junk Bonds and Leveraged Buyouts, 2002.
An examination of junk bonds, leveraged buyouts, and the investment climate today.
2,800 words (approx. 11.2 pages), 8 sources, APA, $ 83.95
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Abstract
This paper provides a review of the relevant literature to define and describe junk bonds and leveraged buyouts, followed by a discussion and analysis of the current economic trends today. A summary of the research and salient findings are provided in the conclusion.
From the Paper
"Michael Milken's vast and increasingly powerful junk-bond network fostered the "merger mania" of the 1980s, in which his clients, partners, and allies, among others, engaged in a wave of corporate mergers, acquisitions, hostile takeovers, and leveraged buyouts. By the end of the 1980s, the junk-bond market had grown to $150 billion in size, and Drexel Burnham had become one of the leading financial firms in the United States. Milken's own operations accounted for at least half of the firm's profits, and his own salary zoomed from $25,000 in 1970 to $550 million in 1987 (the highest annual compensation at that time) ("Leveraged buyouts," 2002, 4-5)."
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Institute of Internal Auditors, 2005.
An examination and overview of this institution.
1,524 words (approx. 6.1 pages), 3 sources, MLA, $ 50.95
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Abstract
The Institute of Internal Auditors, founded by the New York Chapter in 1941, is the primary supporting organization of internal auditors today. This paper explores the organization's role and duties and looks at the principles it follows and tries to implement in its subjects.
From the Paper
"The Institute serves its members in internal auditing, governance and internal control, IT audit, education and security for more than 120 countries. The IIA leads the world in certification, education, research and technological guidance for the profession. They are considered the profession's watchdog and resource on significant auditing issues around the globe. The IIA provides internal audit practitioners, executive management, boards of directors and audit committees with standards, guidance and information on best practices in internal auditing."
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Briggs and Stratton Corporation.
This paper evaluates Briggs and Stratton's accounting polices and examines how the company's accounting policies affect the firm's key success factors.
4,050 words (approx. 16.2 pages), 4 sources, APA, $ 109.95
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Abstract
This paper explains that, as with most firms, Briggs and Stratton has instituted accounting policies, which enhance its financial standing; these accounting policies affect virtually every item on the company's financial statements, including revenues, expenses, and inventory. The author points out that Briggs and Stratton does a good job of revealing its accounting policies and exceeds GAAP standards for disclosure; however, it appears that Briggs and Stratton may be underestimating certain expenses, including warranty and depreciation expenses and costs of goods sold, which appear to be temporarily depressed due to LIFO liquidation and adjustments in the use of inventory cash flow models. This paper relates that one of the most important keys to success for a company is being able to make a profit; therefore, many of Briggs and Stratton's accounting policies, such as inventory policies, including cash flow models that affect the cost of goods sold and depreciation expenses, affect its reported profit.
From the Paper
"Briggs and Stratton does have significant flexibility in its assets and liabilities accounting policies. For instance, instead of a combination of FIFO and LIFO it could use FIFO or weighted averages. Using FIFO would result in higher reported net income. In addition, FIFO inventory accounts are the closest to replacement costs, which may make it easier for management to forecast raw material costs. Instead of using straight-line depreciation, the company could use accelerated depreciation to reduce tax costs. In addition, there is a lot of flexibility in estimating life expectancy of fixed assets. Increasing the estimated life span would decrease depreciation expense. However, if the company over estimates the life expectancy of an asset, it may have to take a large write off when the asset is decommissioned."
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The Cost of Smoking, 2005.
An analysis of the health care economics of tobacco consumption.
2,700 words (approx. 10.8 pages), 16 sources, MLA, $ 80.95
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Abstract
This paper addresses the costs of smoking on society by evaluating the impact on health, the various economic costs attributed to smoking, and the taxation measure utilized to reduce the demand for tobacco. Issues that are addressed include the social costs of smoking, whether smokers cover the smoking-related costs that the rest of the community bears, and whether the average lifetime health care costs of tobacco users is higher than those of non-smokers. It also looks at whether tobacco taxes are an effective measure to reduce the demand for tobacco and reduce health care costs imposed by smokers.
From the Paper
"Do smokers cover the smoking-related costs that the rest of the community bears? Typically, these costs are covered by tobacco tax revenues imposed by governments to compensate the public sector, which are borne by the smokers themselves. However, a high percentage of the smoking-attributable costs are borne by private individuals or by business (Collins and Lapsley, 2003). Smokers impose direct health costs on non-smokers, which include irritation and nuisance. There may also be a cost from fires, environmental degradation, and deforestation from tobacco growing and processing, and from the consequences of smoking (Jha and Chaloupka, 1999). Smokers impose physical costs on others as well as possible financial costs. In theory, smokers would smoke less if they took these costs into account, because the socially optimal level of consumption, in which resources are efficiently distributed in society, is reached when all costs are borne by the consumer."
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Global Financial Markets, 2005.
An overview of capital controls in an era of globalization.
2,600 words (approx. 10.4 pages), 6 sources, MLA, $ 78.95
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Abstract
Within the framework of a globalized political economy, aiming towards the eradication of any and all artificial barriers to trade, the question of capital liberalization has become an increasingly critical one. Consequent to the free trade philosophy of globalization, the IMF and World Bank have always argued against the implementation of capital controls or the imposition of barriers towards the free movement of capital across the world. This paper explains that such barriers are negatively perceived as threats to globalization or obstacles to the realization of a global economic system. This paper shows that several member countries, especially those impacted by the Asian financial crisis, adopted a contrary policy, whereby they either tightened existing controls on either capital outflow or inflow or adopted even more stringent capital control mechanisms. Such a policy appears to be contrary to the goal of establishing a liberalized and stable global capital market, functioning in accordance with the principles of rational choice and comparative advantage. However, careful assessment of the arguments for and against capital controls in this paper, together with a review of a pertinent body of factual formal evidence, illustrates that the imposition of capital controls, as opposed to the full liberalization of the global capital market, better serves the purposes of capital market stabilization, efficient allocation of resources, and protection of national economies.
From the Paper
"The third argument in favour of capital liberalization is intimately connected to the factor of financial instability and the importance of equilibrating balance of payments. As noted by Sebastian Edwards (1999), all economies are vulnerable to such external shocks as would upset balance of payments. In order to redress that situation and minimize its negative consequences, it is necessary to balance the current account through capital movements as would restore the equilibrium of the balance of payments and offset potential inflation. The free and unrestricted global movement of capital is, thus, a necessary corollary to the maintenance of balanced current account (Edwards 1999). Consequently, from within the parameters of this last argument, liberalization of capital and the concomitant creation of a thoroughly globalized capital market is strongly founded upon the imperatives of maintaining balanced current accounts."
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Reporting Derivative Transactions, 2004.
An analysis of the effectiveness of the current requirements for reporting derivative transactions for investment purposes.
3,613 words (approx. 14.5 pages), 20 sources, MLA, $ 100.95
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Abstract
This paper provides an overview of the problem facing regulators and investors in determining the financial integrity of a company today. A definition and discussion of financial derivatives and current reporting requirements for such instruments are provided, followed by an analysis of current and future trends. A summary of the research is provided in the conclusion.
From the Paper
"Today, corporations are facing a dual pressure to report smooth earnings in an increasingly transparent environment. According to the CEO of a Fortune 500 firm, "[t]he No. 1 job of management is to smooth out earnings" (Barton 2001:1). Consistent with this view, several academic studies have documented that corporate managers make discretionary accounting choices, in part, to reduce earnings volatility. Certainly, earnings management is believed to be so common that the media and regulators are expressing concern about its effects on the quality of reported earnings and the functioning of capital markets in the U.S. and abroad, but to date, the media, academics, and regulators have largely focused on discretionary accounting accruals as the primary means by which managers smooth their firms' earnings. However, corporate managers can also help reduce volatility in earnings by using other tools, such as financial derivatives, that smooth their firms' cash flows (Haberman 2003). The sour taste left in investors' mouths after the collapse of Enron and their ilk, though, have raised a number of questions about whether the current requirements for reporting derivative transactions are useful to investors. To this end, this paper provides an overview of the problem, a definition and discussion of financial derivatives, current reporting requirements for such instruments, followed by an analysis of current and future trends. A summary of the research will be provided in the conclusion."
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