This document provides an overview of pricing strategies and objectives for a marketing course. It discusses flexible versus inflexible pricing models and three primary pricing objectives: profit orientation, sales orientation, and status quo orientation. It also outlines several pricing tactics from demand-oriented and cost-oriented perspectives, such as premium pricing, penetration pricing, cost-plus pricing, and target return pricing. The reading assignments cover pricing objectives and policies as well as price setting in business.
Financial Management Unit III AssessmentQuestion 1· Define.docxvoversbyobersby
Financial Management Unit III Assessment
Question 1
· Define each part of a financial plan and discuss the importance of these components in managerial decision making.
·
Your response should be at least 250 words in length.
Question 2
· Construct a pro forma income statement for the first year and second year for the following assumptions:
Units of Sales in Year 1: 110,000
Price per Unit: $11
Variable cost per unit: 30%
Fixed Costs: $125,000
Income taxes: 15%
Interest Expense: $200,000
In year 2, Price per unit increases to $11.50, and unit of sales increases by 5%, all other assumptions remain the same.
Question 3
· Calculate the sustainable growth based on the following information:
·
· • Earnings after taxes = $35,000
· • Equity = $100,000
• d=22.4%
Question 4
· Calculate a table of interest rates based on the following information:
The pure interest rate is 1.6%
Inflation expectations for year 1 = 3%, year 2 =3.5%, years 3-5 =5%
The default risk is .1% for year one and increases by .2% over each year
Liquidity premium is 0 for year 1 and increases by .2% each year
Maturity risk premium is 0 for years 1 and 2 and .2% for years 3-5
BBA 3301, Financial Management 1
UNIT III STUDY GUIDE
Financial Planning, the Financial
System and Governance
Learning Objectives
Upon completion of this unit, students should be able to:
1. Define the elements of a business plan.
2. Explain the purpose and use of a financial plan.
3. Calculate sustainable growth.
4. Analyze the percent of sales approach to forecasting.
5. Conduct a basic financial forecast.
6. Construct the financial flow of funds model.
7. Explain moral hazard in executive compensation.
8. Develop an interest rate table for a term structure incorporating risk and
inflation.
9. Contrast theories pertaining to the term structure of interest rates.
Written Lecture
From courses in business administration and management, you will probably
note the planning function is key to organizational management. There are
various forms of planning that can include operational planning, strategic
planning, budgeting, and forecasting. Using financial data and information,
managers in all areas will need to either review or prepare business plans at
some point in their career. This unit begins with the study of business and
financial planning.
A business plan is a model of what management expects a business to become
in the future. A good business plan usually has broad, long-term planning on one
end and numerical short-term forecasting on the other end. Business plans can
be used by small business and entrepreneurs as well as large corporations in
planning expansion. Usually, a business plan involves some form of forecast and
the development of pro forma financial statements. Business plans are often
used by managers in assessing opportunities and allocating resources.
Additionally, investors (debt and equity) review the business ...
Module 2 - BackgroundPrinciples of AccountingConsider that acc.docxroushhsiu
Module 2 - Background
Principles of Accounting
Consider that accounting terms are not always obvious in their meanings. If you are learning terminology or need to clarify a vocabulary item, a good reference for accounting terms is:
New York Society of Certified Public Accountants (2017) Accounting Terminology Guide - Over 1,000 Accounting and Finance Terms. Retrieved from: http://www.nysscpa.org/professional-resources/accounting-terminology-guide#sthash.UMS3kGjf.dpbs
For a glossary of general business terms:
Berry, T. (n.d.) Business terms glossary. BPlans. Retrieved from http://articles.bplans.com/business-term-glossary/
The Annual Report
The annual report is the way a firm summarizes its performance over the past year and where it sets a vision for the future. Publicly held companies (traded on the stock exchange) must prepare annual reports, and annual reports are usually public documents. Investors and the general public use annual reports as sources of information about the financial health of a company. We will be learning about reading annual reports to learn general accounting principles in the context of learning about a company and the industry in which it operates. Although we will not discuss all sections of an annual report, we will touch on the sections that have the most relevance to providing the HRM professional with the most helpful insights into the operations of the firm.
Front matter
This is largely text material that sets the stage for the quantitative data that follows.
The Opening letter to the Shareholders
The opening letter is generally the first section of the annual report and is a statement by the chairman of the board. The letter sets the stage for how the firm’s management wants you to view the report and the previous year’s performance, and so in this sense sets the “strategic intent” of the report. A careful reading of the letter can give context to the numbers that follow by giving you clues of what to look for in terms of goals met – or problems that prevented goal attainment. The firm may be on the verge of explosive growth, or a meltdown.
Sales and Marketing
This section covers the company’s product/service line. Typically, it also contains descriptions of key departments or groups and the work they do. By reading this section, you can deduce what products or services are most important to the firm and which divisions are seen as most critical to its success. This section can also give you clues as to what the future may hold.
The Auditor’s Letter
You might be tempted to skip this section, because it probably seems superfluous (like the terms and conditions acknowledgment on software updates. You know you don’t read those!). However, you should know that by law, a publicly traded firm needs to be independently audited every year. This is to protect the investor, and the auditors will state whether or not the data the company presents is accurate and if they have sufficient controls in place to prevent frau ...
chapter 1Introduction to Accounting Learning Goals.docxcravennichole326
chapter 1
Introduction to Accounting
Learning Goals
• Develop a general understanding of alternative forms of business entities.
• Differentiate between financial and managerial accounting.
• Acquire knowledge about the conceptual underpinnings of accounting.
• Learn the fundamental accounting equation and the impact of transactions.
• Discover alternative career paths within the accounting profession.
Copyright Barbara Chase/Corbis/AP Images
waL80144_01_c01_001-026.indd 1 8/29/12 2:43 PM
2
CHAPTER 1Chapter Outline
Chapter Outline
1.1 Entity Concepts
1.2 The Language of Business
Disciplines of Accounting
Financial Accounting
1.3 Key Concepts
1.4 The Financial Reporting Model
Sources of Capital
Comprehensive Illustration
Statement of Cash Flows: A Fourth Financial Statement
1.5 Usefulness of Accounting in Careers and Life
1.6 The Importance of Ethics
The stereotypical accountant is characterized as a boring number cruncher, charged with maintaining the books and accounts of a business. This image may be traced
back to the 1843 book by Charles Dickens entitled A Christmas Carol. In that tale, Ebene-
zer Scrooge is a penny-pinching miser who cares nothing for the people around him. His
sole purpose is making money, and his trusted but suffering accountant is Bob Cratchit,
who painstakingly tracks every penny. Mr. Scrooge eventually sees the light, but that’s
another story.
Today’s accountant is also another story. The mundane aspects of accounting are now
largely accomplished by sophisticated computer software. For small businesses, the soft-
ware may reside on a simple personal computer. Larger businesses may use elaborate
enterprise resource packages that integrate accounting with all other aspects of managing
the business. Such complex business systems may be maintained internally by a specific
business or be contracted for through a third-party “cloud computing” service provider.
The changed environment has redefined what it means to be an accountant. Although
accountants certainly need to have comprehensive understanding of the fundamental
practices, rules, and procedures constituting the foundation of accounting, they are often-
times more focused on broader measurement, reporting, and managerial tasks. Less time
is spent on data capture, and more time is devoted to analyzing information and helping
with sound business decisions.
Furthermore, to understand and monitor results produced by sophisticated information
systems, accountants need to be knowledgeable and vigilant. If their organizations solely
rely on the data produced by their computers, decision making can be quickly handi-
capped by erroneous output. The accountant must have a keen “forensic” eye to make
sure that reported information is logical and correct. Indeed, the role of accounting has
grown more complex, and with that, the value of the accountant has increased. A large
proportion of business leaders start out as accountant ...
Financial Management Unit III AssessmentQuestion 1· Define.docxvoversbyobersby
Financial Management Unit III Assessment
Question 1
· Define each part of a financial plan and discuss the importance of these components in managerial decision making.
·
Your response should be at least 250 words in length.
Question 2
· Construct a pro forma income statement for the first year and second year for the following assumptions:
Units of Sales in Year 1: 110,000
Price per Unit: $11
Variable cost per unit: 30%
Fixed Costs: $125,000
Income taxes: 15%
Interest Expense: $200,000
In year 2, Price per unit increases to $11.50, and unit of sales increases by 5%, all other assumptions remain the same.
Question 3
· Calculate the sustainable growth based on the following information:
·
· • Earnings after taxes = $35,000
· • Equity = $100,000
• d=22.4%
Question 4
· Calculate a table of interest rates based on the following information:
The pure interest rate is 1.6%
Inflation expectations for year 1 = 3%, year 2 =3.5%, years 3-5 =5%
The default risk is .1% for year one and increases by .2% over each year
Liquidity premium is 0 for year 1 and increases by .2% each year
Maturity risk premium is 0 for years 1 and 2 and .2% for years 3-5
BBA 3301, Financial Management 1
UNIT III STUDY GUIDE
Financial Planning, the Financial
System and Governance
Learning Objectives
Upon completion of this unit, students should be able to:
1. Define the elements of a business plan.
2. Explain the purpose and use of a financial plan.
3. Calculate sustainable growth.
4. Analyze the percent of sales approach to forecasting.
5. Conduct a basic financial forecast.
6. Construct the financial flow of funds model.
7. Explain moral hazard in executive compensation.
8. Develop an interest rate table for a term structure incorporating risk and
inflation.
9. Contrast theories pertaining to the term structure of interest rates.
Written Lecture
From courses in business administration and management, you will probably
note the planning function is key to organizational management. There are
various forms of planning that can include operational planning, strategic
planning, budgeting, and forecasting. Using financial data and information,
managers in all areas will need to either review or prepare business plans at
some point in their career. This unit begins with the study of business and
financial planning.
A business plan is a model of what management expects a business to become
in the future. A good business plan usually has broad, long-term planning on one
end and numerical short-term forecasting on the other end. Business plans can
be used by small business and entrepreneurs as well as large corporations in
planning expansion. Usually, a business plan involves some form of forecast and
the development of pro forma financial statements. Business plans are often
used by managers in assessing opportunities and allocating resources.
Additionally, investors (debt and equity) review the business ...
Module 2 - BackgroundPrinciples of AccountingConsider that acc.docxroushhsiu
Module 2 - Background
Principles of Accounting
Consider that accounting terms are not always obvious in their meanings. If you are learning terminology or need to clarify a vocabulary item, a good reference for accounting terms is:
New York Society of Certified Public Accountants (2017) Accounting Terminology Guide - Over 1,000 Accounting and Finance Terms. Retrieved from: http://www.nysscpa.org/professional-resources/accounting-terminology-guide#sthash.UMS3kGjf.dpbs
For a glossary of general business terms:
Berry, T. (n.d.) Business terms glossary. BPlans. Retrieved from http://articles.bplans.com/business-term-glossary/
The Annual Report
The annual report is the way a firm summarizes its performance over the past year and where it sets a vision for the future. Publicly held companies (traded on the stock exchange) must prepare annual reports, and annual reports are usually public documents. Investors and the general public use annual reports as sources of information about the financial health of a company. We will be learning about reading annual reports to learn general accounting principles in the context of learning about a company and the industry in which it operates. Although we will not discuss all sections of an annual report, we will touch on the sections that have the most relevance to providing the HRM professional with the most helpful insights into the operations of the firm.
Front matter
This is largely text material that sets the stage for the quantitative data that follows.
The Opening letter to the Shareholders
The opening letter is generally the first section of the annual report and is a statement by the chairman of the board. The letter sets the stage for how the firm’s management wants you to view the report and the previous year’s performance, and so in this sense sets the “strategic intent” of the report. A careful reading of the letter can give context to the numbers that follow by giving you clues of what to look for in terms of goals met – or problems that prevented goal attainment. The firm may be on the verge of explosive growth, or a meltdown.
Sales and Marketing
This section covers the company’s product/service line. Typically, it also contains descriptions of key departments or groups and the work they do. By reading this section, you can deduce what products or services are most important to the firm and which divisions are seen as most critical to its success. This section can also give you clues as to what the future may hold.
The Auditor’s Letter
You might be tempted to skip this section, because it probably seems superfluous (like the terms and conditions acknowledgment on software updates. You know you don’t read those!). However, you should know that by law, a publicly traded firm needs to be independently audited every year. This is to protect the investor, and the auditors will state whether or not the data the company presents is accurate and if they have sufficient controls in place to prevent frau ...
chapter 1Introduction to Accounting Learning Goals.docxcravennichole326
chapter 1
Introduction to Accounting
Learning Goals
• Develop a general understanding of alternative forms of business entities.
• Differentiate between financial and managerial accounting.
• Acquire knowledge about the conceptual underpinnings of accounting.
• Learn the fundamental accounting equation and the impact of transactions.
• Discover alternative career paths within the accounting profession.
Copyright Barbara Chase/Corbis/AP Images
waL80144_01_c01_001-026.indd 1 8/29/12 2:43 PM
2
CHAPTER 1Chapter Outline
Chapter Outline
1.1 Entity Concepts
1.2 The Language of Business
Disciplines of Accounting
Financial Accounting
1.3 Key Concepts
1.4 The Financial Reporting Model
Sources of Capital
Comprehensive Illustration
Statement of Cash Flows: A Fourth Financial Statement
1.5 Usefulness of Accounting in Careers and Life
1.6 The Importance of Ethics
The stereotypical accountant is characterized as a boring number cruncher, charged with maintaining the books and accounts of a business. This image may be traced
back to the 1843 book by Charles Dickens entitled A Christmas Carol. In that tale, Ebene-
zer Scrooge is a penny-pinching miser who cares nothing for the people around him. His
sole purpose is making money, and his trusted but suffering accountant is Bob Cratchit,
who painstakingly tracks every penny. Mr. Scrooge eventually sees the light, but that’s
another story.
Today’s accountant is also another story. The mundane aspects of accounting are now
largely accomplished by sophisticated computer software. For small businesses, the soft-
ware may reside on a simple personal computer. Larger businesses may use elaborate
enterprise resource packages that integrate accounting with all other aspects of managing
the business. Such complex business systems may be maintained internally by a specific
business or be contracted for through a third-party “cloud computing” service provider.
The changed environment has redefined what it means to be an accountant. Although
accountants certainly need to have comprehensive understanding of the fundamental
practices, rules, and procedures constituting the foundation of accounting, they are often-
times more focused on broader measurement, reporting, and managerial tasks. Less time
is spent on data capture, and more time is devoted to analyzing information and helping
with sound business decisions.
Furthermore, to understand and monitor results produced by sophisticated information
systems, accountants need to be knowledgeable and vigilant. If their organizations solely
rely on the data produced by their computers, decision making can be quickly handi-
capped by erroneous output. The accountant must have a keen “forensic” eye to make
sure that reported information is logical and correct. Indeed, the role of accounting has
grown more complex, and with that, the value of the accountant has increased. A large
proportion of business leaders start out as accountant ...
1.1. Nature and Definition of Auditing
Different scholars have defined auditing in different ways. For example, Auditing is a process of collection and evaluation of evidence for the purpose of reporting on economic transaction. The other definition of auditing given by the Institute of Chartered Accountants of India, in its publication titled, General Guidelines on Internal Auditing has defined auditing as ‘ a systematic and independent evaluation of data, statements, records, operations and performances ( financial or otherwise) of an enterprise for stated purpose. In any auditing situation, the auditor perceives and recognizes the propositions before him for examination, collects evidence, evaluates the same and on this basis formulates his/her judgment which is communicated through audit report.
As it is cited in Kanal Gupta and Arora A.(1996,p6), Arens and Loebbecke defined auditing as the process by which a complete, independent person accumulates and evaluates evidence about quantifiable information related to specific economic entity for the purpose of determining and reporting on the degree of correspondence between the quantifiable information and established criteria. To sum up, Auditing is the process of verifying the assertions produced by accounting, as to whether they present a true and fair view of the entity's financial position in accordance with accounting standards and GAAP. In other words, auditing seeks to verify whether or not financial records have been properly prepared.
Study Note
The term audit is derived from the Latin term ‘audire,’ which means to hear. In early days an auditor used to listen to the accounts read over by an accountant in order to check them Auditing is as old as accounting.
It was in use in all ancient countries such as Mesopotamia, Greece, Egypt. Rome, U.K. and India. The Vedas contain reference to accounts and auditing.
The original objective of auditing was to detect and prevent errors and frauds and most recently objective of audit shifted to ascertain whether the accounts were true and fair rather than detection of errors and frauds.
Auditing evolved and grew rapidly after the industrial revolution in the 18th century with the growth of the joint stock companies the ownership and management became separate.
The shareholders who were the owners needed a report from an independent expert on the accounts of the company managed by the board of directors who were the employees.
1.2. Historical Development of Auditing
The development of auditing is closely linked to the development of accounting. In the early stage of civilization, the number of transaction was usually so small that able to record the transactions himself. However, with the growth of civilization and consequential growth in volume and complexity of transactions, it becomes necessary to entrust the job of recording the transactions to other persons. The trend started with maintenance of accounts to empires by public officials
Analyze MVPIThe motives, values, and preferences inventory (MV.docxikirkton
Analyze MVPI
The motives, values, and preferences inventory (MVPI) is used to identify the motives and values most important to an individual. Understanding the personal values of the individuals who make up a team can be useful in understanding the team dynamics and help a manager build and sustain teamwork within the organization.
Refer to the 10 core values (listed below) evaluated on the MVPI.
Rank order the traits according to the value you assign to them, with 1 being the trait you value the most in a team member and 10 being the trait you value the least.
Explain the rationale for your ranking. Give an example of each trait drawn from your experience or observations.
MVPI Values
Recognition:
Desire for attention, approval, and praise
Power:
Desire for success, accomplishment, status, competition, and control
Hedonism:
Desire for fun, pleasure, and recreation
Altruism:
Concern about the welfare of others and contribution to a better society
Affiliation:
Desire for enjoyment of social interaction
Tradition:
Concern for established values of conduct
Security:
Desire for certainty, order, and predictability in employment and finance
Science:
quest for knowledge, research, technology, and data
Aesthetics:
need for self-expression, concern over look, feel, and design of work products
Commerce:
interest in money, profits, investment, and business opportunities
.
Analyze and interpret the following quotation The confrontation of.docxikirkton
Analyze and interpret the following quotation: “The confrontation of Western civilization with other peoples whose values were often dramatically opposed to the West’s…suggests that by the dawn of the twentieth century, the tradition and sense of centeredness that had defined indigenous cultures for hundreds, even thousands, of years was either threatened or in the process of being destroyed. Worldwide, non-Western cultures suddenly found that they were defined as outposts of new colonial empires developed by Europeans, resulting in the weakening of traditional cultural practices, political leadership, and social systems that had been in place for centuries.” (Sayre, 2013, pp. 410-411).
In the later nineteenth and early twentieth century, what would this “loss of centeredness” of culture have meant for a given cultural group? Select from among the non-Western cultural groups noted in the text (Native American, Chinese, Indian, Japanese, or African) and research the impact of Western or European cultures on that group.
What was the selected non-Western culture like prior to the late nineteenth century? How did it change as a result of European expansion? How is this change representative of what Sayre calls a “loss of centeredness?” Be sure to use specific examples and details.
Submit your findings in a 4-page essay in APA format.
.
Analyze and prepare a critique of the following situationMary h.docxikirkton
Analyze and prepare a critique of the following situation:
Mary has worked for Bob for two years. About 6 months ago, Bob asked Mary out to dinner. They had a good time together and agreed that they had some real interests in common outside of work. The pair dated for two months. Mary initially liked Bob, but he was beginning to get annoying. He called her all the time, was very pushy about her seeing him, and wanted to control all aspects of her life; both at work and at home. Mary decided to call it off. When she told Bob that she did not want to see him personally anymore, he went crazy on her. He told her she would be sorry and that he would see to it that she regretted it. Bob began to make life miserable for Mary at work. She suddenly started to get poor performance evaluations after two years of exemplary reviews. Even the managers above Bob were beginning to make comments about her poor attitude. Mary decided it was time to act. She was worried she would be fired, all because Bob wanted her to continue to date him. She loved her job and knew she did quality work. She made an appointment with the HR manager.
Using the Civil Rights Acts of 1964 and 1991, discuss the type of sexual harassment Mary thinks she is experiencing. What are the obligations of the HR manager once Mary reports this? Discuss the likelihood that Bob would be found guilty of sexually harassing Mary. If the HR manager investigates and finds Mary is telling the truth, what should s/he do to handle the situation so that the company is not found complicit by the EEOC if further complaint is made? If found in Mary's favor, what options does the HR manager have to remedy the situation?
.
Analyze the anthropological film Jero A Balinese Trance Seance made.docxikirkton
Analyze the anthropological film Jero: A Balinese Trance Seance made by Linda Connor, Patsy Asch and Timothy Asch. Choose two or three significant concepts covered in our readings and lectures to analyze the film (cultural relativism, visual imperialism). You will need to explore these concepts in a thorough manner, select your anthropological concepts to best serve your thesis statement and interest in the film.
Think about the approach to the subject matter. How do the filmmakers construct the culture they present? What is the significance of this film? Who is Jero and why is she featured in this film? What did you learn? What questions are raised by this film? What is left unanswered?
Do the filmmakers privilege their own culture or do they employ cultural relativism? Can you see how the shift in anthropology, from studying the "native" may have impacted the filmmakers approach Could they have been more effective in their approach? Describe how? What worked well and why? What are some ethical implications that you see raised in this film?
These questions serve as guideline for you but you should choose specific concepts that you find interesting to explore how ethnicity and culture are presented in this film.
Hi, can you please make use of the terms "cultural baggage" and "politics of representation" in the essay
.
analyze and synthesize the financial reports of an organization of t.docxikirkton
analyze and synthesize the financial reports of an organization of their choice and present their findings in a PowerPoint presentation (with completed Notes section providing details of analysis and synthesis of information to presented points. You must also provide a separate document of exhibits of financial reports analyzed for the Presentation).
Projects will include:
Organization overview
Financial statements analysis
Analysis of cash flow
Stock performance analysis
Cost of capital or required return on investment
Value of the organization: book value, common stock value
Discussion of appropriate organizational development options with the inclusion of general risk and return scenarios from a management perspective
.
Analyze financial statements using financial ratios.• .docxikirkton
Analyze financial statements using financial ratios.
•
Analyze and evaluate cash flows over time.
•
Use technology and information resources to research issues in financial management.
•
Write clearly and concisely about financial management using proper writing mechanics.
This project requires that you conduct a financial analysis of two, comparable organizations. You
may select any organizations that produce publicly available financial statements employing IFRS
or U.S. GAAP (both companies must follow the same GAAP). Let your professor know which two
companies you plan to study before the end of Week 2, as your selection must be approved. The
professor reserves the right to limit the number of students comparing the same two
organizations.
Assignment:
1. Carefully review the annual reports for both organizations. Comment on what approach
each company has taken in reporting to its shareholders.
(This requirement is purposely
broad to give you the freedom to talk about anything that comes under the broad title of
“reporting to shareholders”).
2. Prepare a ratio analysis for both companies including a trend analysis for three years.
Comment on the significance of the ratios for each company (do they indicate that things
are all right, do they suggest that problems exist, or is it likely that problems will occur in
the future?). Comment specifically on the similarities and differences among the ratios
calculated for both companies and comparison to any benchmark.
3.
Prepare an analysis of the cash flow statements for both companies.
4. List and discuss the importance of the two most significant accounting policies adopted
by the two organizations (you should select the same two policies for both organizations).
Explain the options selected by both companies and comment on any differences that
you see. Explain what other policies the organizations could have selected and state why
you think they selected one policy over another.
5. Provide the URL’s for each company’s Annual Report.
Your assignment should adhere to these guidelines:
•
Write in a logical, well-organized conventional business style. Use Times New Roman
font size 12 or similar, double space, and leave ample white space per page.
•
All references must follow JWMI style guide and works must be cited appropriately.
Check with your professor for any additional instructions on citations.
•
On the first page or in a header, include the title of the assignment, the student’s name,
the professor’s name, the course title, and the date. Reference pages are not included in
the assignment page length.
•
Faculty members have discretion to penalize for assignments that do not follow these
guidelines. Check with your individual professor if you feel the assignment r
much longer or shorter treatment than recommended.
The two companies are: Walm.
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1.1. Nature and Definition of Auditing
Different scholars have defined auditing in different ways. For example, Auditing is a process of collection and evaluation of evidence for the purpose of reporting on economic transaction. The other definition of auditing given by the Institute of Chartered Accountants of India, in its publication titled, General Guidelines on Internal Auditing has defined auditing as ‘ a systematic and independent evaluation of data, statements, records, operations and performances ( financial or otherwise) of an enterprise for stated purpose. In any auditing situation, the auditor perceives and recognizes the propositions before him for examination, collects evidence, evaluates the same and on this basis formulates his/her judgment which is communicated through audit report.
As it is cited in Kanal Gupta and Arora A.(1996,p6), Arens and Loebbecke defined auditing as the process by which a complete, independent person accumulates and evaluates evidence about quantifiable information related to specific economic entity for the purpose of determining and reporting on the degree of correspondence between the quantifiable information and established criteria. To sum up, Auditing is the process of verifying the assertions produced by accounting, as to whether they present a true and fair view of the entity's financial position in accordance with accounting standards and GAAP. In other words, auditing seeks to verify whether or not financial records have been properly prepared.
Study Note
The term audit is derived from the Latin term ‘audire,’ which means to hear. In early days an auditor used to listen to the accounts read over by an accountant in order to check them Auditing is as old as accounting.
It was in use in all ancient countries such as Mesopotamia, Greece, Egypt. Rome, U.K. and India. The Vedas contain reference to accounts and auditing.
The original objective of auditing was to detect and prevent errors and frauds and most recently objective of audit shifted to ascertain whether the accounts were true and fair rather than detection of errors and frauds.
Auditing evolved and grew rapidly after the industrial revolution in the 18th century with the growth of the joint stock companies the ownership and management became separate.
The shareholders who were the owners needed a report from an independent expert on the accounts of the company managed by the board of directors who were the employees.
1.2. Historical Development of Auditing
The development of auditing is closely linked to the development of accounting. In the early stage of civilization, the number of transaction was usually so small that able to record the transactions himself. However, with the growth of civilization and consequential growth in volume and complexity of transactions, it becomes necessary to entrust the job of recording the transactions to other persons. The trend started with maintenance of accounts to empires by public officials
Analyze MVPIThe motives, values, and preferences inventory (MV.docxikirkton
Analyze MVPI
The motives, values, and preferences inventory (MVPI) is used to identify the motives and values most important to an individual. Understanding the personal values of the individuals who make up a team can be useful in understanding the team dynamics and help a manager build and sustain teamwork within the organization.
Refer to the 10 core values (listed below) evaluated on the MVPI.
Rank order the traits according to the value you assign to them, with 1 being the trait you value the most in a team member and 10 being the trait you value the least.
Explain the rationale for your ranking. Give an example of each trait drawn from your experience or observations.
MVPI Values
Recognition:
Desire for attention, approval, and praise
Power:
Desire for success, accomplishment, status, competition, and control
Hedonism:
Desire for fun, pleasure, and recreation
Altruism:
Concern about the welfare of others and contribution to a better society
Affiliation:
Desire for enjoyment of social interaction
Tradition:
Concern for established values of conduct
Security:
Desire for certainty, order, and predictability in employment and finance
Science:
quest for knowledge, research, technology, and data
Aesthetics:
need for self-expression, concern over look, feel, and design of work products
Commerce:
interest in money, profits, investment, and business opportunities
.
Analyze and interpret the following quotation The confrontation of.docxikirkton
Analyze and interpret the following quotation: “The confrontation of Western civilization with other peoples whose values were often dramatically opposed to the West’s…suggests that by the dawn of the twentieth century, the tradition and sense of centeredness that had defined indigenous cultures for hundreds, even thousands, of years was either threatened or in the process of being destroyed. Worldwide, non-Western cultures suddenly found that they were defined as outposts of new colonial empires developed by Europeans, resulting in the weakening of traditional cultural practices, political leadership, and social systems that had been in place for centuries.” (Sayre, 2013, pp. 410-411).
In the later nineteenth and early twentieth century, what would this “loss of centeredness” of culture have meant for a given cultural group? Select from among the non-Western cultural groups noted in the text (Native American, Chinese, Indian, Japanese, or African) and research the impact of Western or European cultures on that group.
What was the selected non-Western culture like prior to the late nineteenth century? How did it change as a result of European expansion? How is this change representative of what Sayre calls a “loss of centeredness?” Be sure to use specific examples and details.
Submit your findings in a 4-page essay in APA format.
.
Analyze and prepare a critique of the following situationMary h.docxikirkton
Analyze and prepare a critique of the following situation:
Mary has worked for Bob for two years. About 6 months ago, Bob asked Mary out to dinner. They had a good time together and agreed that they had some real interests in common outside of work. The pair dated for two months. Mary initially liked Bob, but he was beginning to get annoying. He called her all the time, was very pushy about her seeing him, and wanted to control all aspects of her life; both at work and at home. Mary decided to call it off. When she told Bob that she did not want to see him personally anymore, he went crazy on her. He told her she would be sorry and that he would see to it that she regretted it. Bob began to make life miserable for Mary at work. She suddenly started to get poor performance evaluations after two years of exemplary reviews. Even the managers above Bob were beginning to make comments about her poor attitude. Mary decided it was time to act. She was worried she would be fired, all because Bob wanted her to continue to date him. She loved her job and knew she did quality work. She made an appointment with the HR manager.
Using the Civil Rights Acts of 1964 and 1991, discuss the type of sexual harassment Mary thinks she is experiencing. What are the obligations of the HR manager once Mary reports this? Discuss the likelihood that Bob would be found guilty of sexually harassing Mary. If the HR manager investigates and finds Mary is telling the truth, what should s/he do to handle the situation so that the company is not found complicit by the EEOC if further complaint is made? If found in Mary's favor, what options does the HR manager have to remedy the situation?
.
Analyze the anthropological film Jero A Balinese Trance Seance made.docxikirkton
Analyze the anthropological film Jero: A Balinese Trance Seance made by Linda Connor, Patsy Asch and Timothy Asch. Choose two or three significant concepts covered in our readings and lectures to analyze the film (cultural relativism, visual imperialism). You will need to explore these concepts in a thorough manner, select your anthropological concepts to best serve your thesis statement and interest in the film.
Think about the approach to the subject matter. How do the filmmakers construct the culture they present? What is the significance of this film? Who is Jero and why is she featured in this film? What did you learn? What questions are raised by this film? What is left unanswered?
Do the filmmakers privilege their own culture or do they employ cultural relativism? Can you see how the shift in anthropology, from studying the "native" may have impacted the filmmakers approach Could they have been more effective in their approach? Describe how? What worked well and why? What are some ethical implications that you see raised in this film?
These questions serve as guideline for you but you should choose specific concepts that you find interesting to explore how ethnicity and culture are presented in this film.
Hi, can you please make use of the terms "cultural baggage" and "politics of representation" in the essay
.
analyze and synthesize the financial reports of an organization of t.docxikirkton
analyze and synthesize the financial reports of an organization of their choice and present their findings in a PowerPoint presentation (with completed Notes section providing details of analysis and synthesis of information to presented points. You must also provide a separate document of exhibits of financial reports analyzed for the Presentation).
Projects will include:
Organization overview
Financial statements analysis
Analysis of cash flow
Stock performance analysis
Cost of capital or required return on investment
Value of the organization: book value, common stock value
Discussion of appropriate organizational development options with the inclusion of general risk and return scenarios from a management perspective
.
Analyze financial statements using financial ratios.• .docxikirkton
Analyze financial statements using financial ratios.
•
Analyze and evaluate cash flows over time.
•
Use technology and information resources to research issues in financial management.
•
Write clearly and concisely about financial management using proper writing mechanics.
This project requires that you conduct a financial analysis of two, comparable organizations. You
may select any organizations that produce publicly available financial statements employing IFRS
or U.S. GAAP (both companies must follow the same GAAP). Let your professor know which two
companies you plan to study before the end of Week 2, as your selection must be approved. The
professor reserves the right to limit the number of students comparing the same two
organizations.
Assignment:
1. Carefully review the annual reports for both organizations. Comment on what approach
each company has taken in reporting to its shareholders.
(This requirement is purposely
broad to give you the freedom to talk about anything that comes under the broad title of
“reporting to shareholders”).
2. Prepare a ratio analysis for both companies including a trend analysis for three years.
Comment on the significance of the ratios for each company (do they indicate that things
are all right, do they suggest that problems exist, or is it likely that problems will occur in
the future?). Comment specifically on the similarities and differences among the ratios
calculated for both companies and comparison to any benchmark.
3.
Prepare an analysis of the cash flow statements for both companies.
4. List and discuss the importance of the two most significant accounting policies adopted
by the two organizations (you should select the same two policies for both organizations).
Explain the options selected by both companies and comment on any differences that
you see. Explain what other policies the organizations could have selected and state why
you think they selected one policy over another.
5. Provide the URL’s for each company’s Annual Report.
Your assignment should adhere to these guidelines:
•
Write in a logical, well-organized conventional business style. Use Times New Roman
font size 12 or similar, double space, and leave ample white space per page.
•
All references must follow JWMI style guide and works must be cited appropriately.
Check with your professor for any additional instructions on citations.
•
On the first page or in a header, include the title of the assignment, the student’s name,
the professor’s name, the course title, and the date. Reference pages are not included in
the assignment page length.
•
Faculty members have discretion to penalize for assignments that do not follow these
guidelines. Check with your individual professor if you feel the assignment r
much longer or shorter treatment than recommended.
The two companies are: Walm.
Analyze and prepare a critique of the following situationMary has.docxikirkton
Analyze and prepare a critique of the following situation:
Mary has worked for Bob for two years. About 6 months ago, Bob asked Mary out to dinner. They had a good time together and agreed that they had some real interests in common outside of work. The pair dated for two months. Mary initially liked Bob, but he was beginning to get annoying. He called her all the time, was very pushy about her seeing him, and wanted to control all aspects of her life; both at work and at home. Mary decided to call it off. When she told Bob that she did not want to see him personally anymore, he went crazy on her. He told her she would be sorry and that he would see to it that she regretted it. Bob began to make life miserable for Mary at work. She suddenly started to get poor performance evaluations after two years of exemplary reviews. Even the managers above Bob were beginning to make comments about her poor attitude. Mary decided it was time to act. She was worried she would be fired, all because Bob wanted her to continue to date him. She loved her job and knew she did quality work. She made an appointment with the HR manager.
Using the Civil Rights Acts of 1964 and 1991, discuss the type of sexual harassment Mary thinks she is experiencing. What are the obligations of the HR manager once Mary reports this? Discuss the likelihood that Bob would be found guilty of sexually harassing Mary. If the HR manager investigates and finds Mary is telling the truth, what should s/he do to handle the situation so that the company is not found complicit by the EEOC if further complaint is made? If found in Mary's favor, what options does the HR manager have to remedy the situation?
Site references in APA format
.
Analyze Alternative Exchange Rate RegimesThere are several argum.docxikirkton
Analyze Alternative Exchange Rate Regimes
There are several arguments for and against the alternative exchange rate regimes. Prepare a 2- to 4-page paper presenting both sides of the argument. In your paper:
List and explain the advantages of the flexible exchange rate regime.
Criticize the flexible exchange rate regime from the viewpoint of the proponents of the fixed exchange rate regime.
Refute the above criticism from the viewpoint of the proponents of the flexible exchange rate regime.
Discuss the impact the increased volatility in interest and foreign exchange rates has on global institutions.
Assignment 3 Grading Criteria
Maximum Points
Listed and explained the advantages of the flexible exchange rate regime.
24
Criticized the flexible exchange rate regime from the viewpoint of the proponents of the fixed exchange rate regime.
24
Refuted the above criticism from the viewpoint of the proponents of the flexible exchange rate regime.
20
Discussed the impact the increased volatility in interest and foreign exchange rates has on global institutions.
20
Wrote in a clear, concise, and organized manner; demonstrated ethical scholarship in accurate representation and attribution of sources; displayed accurate spelling, grammar, and punctuation.
12
Total:
100
.
Analyze and evaluate the different leadership theories and behavior .docxikirkton
Analyze and evaluate the different leadership theories and behavior approaches, including the Tuckman four stages of group development model.
Evaluate the importance of the internal environmental factors that include the cultural, language, political, and technological differences.
Apply the necessary steps to overcome the identified challenges with the different sources of power that must be taken into account.
Deliverable Length:
4-5 Body Pages
.
Analytical essay report about polio 1ِ- An introductory paragraph .docxikirkton
Analytical essay report about polio
1ِ- An introductory paragraph
2 - A background paragraph that includes factual and historical information about polio
3 - three body paragraph that explain the epidemic and illustrate its significance
4- A concluding paragraph
5- An end of text reference page with reference for all source referred to as you wrote your report
.
Analysis Essay 1DUE Feb 23, 2014 1155 PMGrade DetailsGrade.docxikirkton
Analysis Essay 1
DUE: Feb 23, 2014 11:55 PM
Grade Details
Grade
N/A
Gradebook Comments
None
Assignment Details
Open Date
Feb 3, 2014 12:05 AM
Graded?
Yes
Points Possible
100.0
Resubmissions Allowed?
No
Attachments checked for originality?
Yes
.
AnalogíasComplete the analogies. Follow the model.Modelomuer.docxikirkton
Analogías
Complete the analogies. Follow the model.
Modelo
muerte : morir :: nacimiento :
nacer
muerte : nacimiento :: divorciarse de : [removed]
pareja : amor :: amigos : [removed]
tener una cita : salir con :: separarse de : [removed]
juntos : separados :: divertirse : [removed]
estudiar : graduarse :: niñez : [removed]
Completar
Complete the conversations. Make any necessary changes. Two words will not be used.
cambiar
edad
pastel
regalar
relajarse
romper
—¿Piensas [removed] de trabajo?
—Sí, estoy buscando algo más interesante.
—De postre vamos a servir [removed].
—¡Qué rico!
—¿Qué hacen ustedes en las fiestas?
— Bailamos, comemos, hablamos y en general [removed].
—¿Qué le vas a [removed] a tu padre en Navidad?
— Unos discos compactos. Le encanta la música andina.
.
Analyze symbolism in Jane Eyre from a Feminist point of view. Exa.docxikirkton
Analyze symbolism in Jane Eyre from a Feminist point of view.
Examples:
patriarchy
oppressed women
silence from women
4 pages paper
MLA format
Please include original source citations (Jane Eyre book)
Include in text citations from 3 specific secondary sources (sources attached)
.
An important part of research is finding sources that can be trusted.docxikirkton
An important part of research is finding sources that can be trusted.
(1) Comment on why you think it is important to scrutinize your sources to find out if they are credible or not? This can apply to our personal life as well as our academic and business life?
Can you think of an example, in every day life, where it was very important for you to trust your source? Or if not, what are some general areas of life
where you think it is especially important to trust information?
.
An incomplete Punnett square There are three possible phenotypes fo.docxikirkton
An incomplete Punnett square: There are three possible phenotypes for wing color in the species of Moon moth. Some of these moths have a red wings, others have yellow wings and some have orange wings. What type of inheritance is illustrated by the species of moth? What are the genotypes that coincide with the three phenotypes given? In a cross between two orange winged moths that produced 100 offspring how many of the offspring will be a yellow? ALSO DRAW OUT PUNNETT SQUARE!!
.
An expanded version of the accounting equation could be A + .docxikirkton
An expanded version of the accounting equation could be:
A + Rev = L + OE - Exp
A - L = Paid-in Capital - Rev - Exp
A = L + Paid-in Capital + Beginning Retained Earnings + Rev - Exp
A = L + Paid-in Capital - Rev + Exp
In the seller's records, the sale of merchandise on account would:
Increase assets and increase expenses.
Increase assets and decrease liabilities.
Increase assets and increase paid-in capital.
Increase assets and decrease revenues.
In the buyer's records, the purchase of merchandise on account would:
Increase assets and increase expenses.
Increase assets and increase liabilities.
Increase liabilities and increase paid-in capital.
Have no effect on total assets.
A debit entry will:
Decrease an asset account.
Increase a liability account.
Increase paid-in capital.
Increase an expense account.
A credit entry will:
Increase an asset account.
Increase a liability account.
Decrease paid-in capital.
Increase an expense account.
A credit entry to an account will:
Always decrease the account balance.
Always increase the account balance.
Increase the balance of a revenue account.
Increase the balance of an expense account.
A debit entry to an account will:
Always decrease the account balance.
Always increase the account balance.
Increase the balance of a revenue account.
Increase the balance of an expense account.
Sage, Inc. has 20 employees who each earn $100 per day and are paid every Friday. The end of the accounting period is on a Wednesday. How much wages should the firm accrue at the end of the period?
$2,000.
$1,000.
$0.
$6,000.
Which of the following is not one of the 5 questions of transaction analysis?
What's going on?
Which accounts are affected?
Is this an accrual?
Does the balance sheet balance?
Does my analysis make sense?
The effect of an adjustment is:
To correct an entry that was not in balance.
To increase the accuracy of the financial statements.
To record transactions not previously recorded.
To close the books.
A journal entry recording an accrual:
Results in a better matching of revenues and expenses.
Will involve a debit or credit to cash.
Will affect balance sheet accounts only.
Will most likely include a debit to a liability account
Wisdom Co. has a note payable to its bank. An adjustment is likely to be required on Wisdom's books at the end of every month that the loan is outstanding to record the:
Amount of interest paid during the month.
Amount of total interest to be paid when the note is paid off.
Amount of principal payable at the maturity date of the note.
Accrued interest expense for the month.
The accounting concept/principle being applied when an adjustment is made is usually:
matching revenue and expense.
consistency.
original cost.
materia.
An Evolving IndustryHow are the Internet and other technologies cu.docxikirkton
An Evolving Industry
How are the Internet and other technologies currently affecting the ways in which movies are produced, distributed, and exhibited? Are the changes having an impact on the quality or depth of the films? Provide specific examples as you explain your point of view.
Your initial post should be at least 150 words in length. Support your claims with examples from required material(s) and/or other scholarly resources, and properly cite any references
.
An essay addressing the definition or resemblance concerning categor.docxikirkton
An essay addressing the definition or resemblance concerning categorical placement or criteria-match reasoning. The Term is Inner Peace. This is going to be a rough draft only. APA format
3-5 pages;
3-5 scholarly sources. I would like to address inner peace as the state of living in harmoney with the enviroment, restrained from war and living peacefully. I woud like to tie into figures like Mandela and Ghandi as examples of people that have attained it.
.
2024.06.01 Introducing a competency framework for languag learning materials ...Sandy Millin
http://sandymillin.wordpress.com/iateflwebinar2024
Published classroom materials form the basis of syllabuses, drive teacher professional development, and have a potentially huge influence on learners, teachers and education systems. All teachers also create their own materials, whether a few sentences on a blackboard, a highly-structured fully-realised online course, or anything in between. Despite this, the knowledge and skills needed to create effective language learning materials are rarely part of teacher training, and are mostly learnt by trial and error.
Knowledge and skills frameworks, generally called competency frameworks, for ELT teachers, trainers and managers have existed for a few years now. However, until I created one for my MA dissertation, there wasn’t one drawing together what we need to know and do to be able to effectively produce language learning materials.
This webinar will introduce you to my framework, highlighting the key competencies I identified from my research. It will also show how anybody involved in language teaching (any language, not just English!), teacher training, managing schools or developing language learning materials can benefit from using the framework.
We all have good and bad thoughts from time to time and situation to situation. We are bombarded daily with spiraling thoughts(both negative and positive) creating all-consuming feel , making us difficult to manage with associated suffering. Good thoughts are like our Mob Signal (Positive thought) amidst noise(negative thought) in the atmosphere. Negative thoughts like noise outweigh positive thoughts. These thoughts often create unwanted confusion, trouble, stress and frustration in our mind as well as chaos in our physical world. Negative thoughts are also known as “distorted thinking”.
Model Attribute Check Company Auto PropertyCeline George
In Odoo, the multi-company feature allows you to manage multiple companies within a single Odoo database instance. Each company can have its own configurations while still sharing common resources such as products, customers, and suppliers.
The Indian economy is classified into different sectors to simplify the analysis and understanding of economic activities. For Class 10, it's essential to grasp the sectors of the Indian economy, understand their characteristics, and recognize their importance. This guide will provide detailed notes on the Sectors of the Indian Economy Class 10, using specific long-tail keywords to enhance comprehension.
For more information, visit-www.vavaclasses.com
This is a presentation by Dada Robert in a Your Skill Boost masterclass organised by the Excellence Foundation for South Sudan (EFSS) on Saturday, the 25th and Sunday, the 26th of May 2024.
He discussed the concept of quality improvement, emphasizing its applicability to various aspects of life, including personal, project, and program improvements. He defined quality as doing the right thing at the right time in the right way to achieve the best possible results and discussed the concept of the "gap" between what we know and what we do, and how this gap represents the areas we need to improve. He explained the scientific approach to quality improvement, which involves systematic performance analysis, testing and learning, and implementing change ideas. He also highlighted the importance of client focus and a team approach to quality improvement.
How to Split Bills in the Odoo 17 POS ModuleCeline George
Bills have a main role in point of sale procedure. It will help to track sales, handling payments and giving receipts to customers. Bill splitting also has an important role in POS. For example, If some friends come together for dinner and if they want to divide the bill then it is possible by POS bill splitting. This slide will show how to split bills in odoo 17 POS.
ESC Beyond Borders _From EU to You_ InfoPack general.pdf
BBA 3301, Financial Management 1 UNIT I STUDY GUIDE .docx
1. BBA 3301, Financial Management 1
UNIT I STUDY GUIDE
Foundations and Background of
Finance
Learning Objectives
Upon completion of this unit, students should be able to:
1. Discuss the nature of financial assets (securities) and
financial markets.
2. Explain the role of financial management in corporations and
its
relationship to accounting information and economic theory.
3. Contrast the forms of business organization.
4. Analyze the goal of maximizing shareholder wealth, agency
theory and
conflicts of interest.
5. Assess basic accounting information and data used in
financial decision
making.
6. Apply federal taxes in calculations.
2. Written Lecture
Welcome to BBA 3301! In this class you will study corporate
finance and be
exposed to many tools and techniques used in managerial
financial decisions.
As you work through the class, you will note that much of the
course applies to
“real world” situations. Whether it is planning your retirement,
purchasing
insurance or obtaining a loan, finance is everywhere. Enjoy the
class!
Finance involves many different areas including investments,
financial markets,
and corporate financial decision making. Corporate finance
includes the
management and control of money and money-related operations
within a
business.
In each of these areas, different types of assets are sold,
purchased or
exchanged. There are two primary classes of assets:
or physical assets that can be used in
production
of a good or service, or possibly have intrinsic value in trade.
Examples
include financial securities, insurance contracts, and derivative
instruments. Financial assets, such as bonds and stocks issued
3. by
corporations to raise money are bought by investors in financial
markets.
Financial markets are exchanges or organizations in which
people can
buy/sell securities.
Often corporations use financial markets to attract capital
(money) from
investors. There are three primary ways by which corporations
finance their
budgets and future growth:
ncing: retaining earnings
Reading
Assignment
Chapter 1:
Foundations
Chapter 2:
Financial Background: A
Review of Accounting,
Financial Statements, and
Taxes
4. Supplemental
Reading
See information below.
Learning Activities
(Non-Graded)
See information below.
Key Terms
1. Agency
2. Assets
3. Capital gains tax
4. Corporation
5. Financial asset
6. Financial markets
7. Financial statements
(balance sheet,
income statement &
statement of cash
flows)
8. Financing (sources of
capital)
9. Income tax
10. Liabilities
5. 11. Partnership
12. Proprietorship
13. Real asset
BBA 3301, Financial Management 2
14. Securities
15. Stakeholders
Investors buy securities for the future cash flows expected from
them. The link
between company management and investors is derived from
this relationship
between stock price and expected financial results.
Accounting and economics are important to finance. Often
accounting is referred
to as “the language” of finance. Most finance practitioners have
some knowledge
of accounting and are able to interpret financial statements
including the balance
sheet, income statement, and statement of cash flows.
Accounting data and
information is utilized with economics to make financial
decisions. Finance is an
offshoot of economic theory in the 1950’s that relies heavily on
economic theory
and tools. Accounting is usually focused on the recording of
historic information
while finance is focused on future cash flows.
6. Prior to delving into finance, you must first understand the
different forms of
business organization, including the proprietorship, the
partnership, and the
corporation. In studying each of these forms, there are
differences in their ability
to raise capital (money), types of taxation (exposure), and levels
of liability to the
owners/shareholders.
For analytical purposes the proprietorship and partnership are
very similar in the
following characteristics:
quirements are minimal).
owners to
acquire.
issues, losses
and lawsuits.
In contrast to the above, the corporate form offers benefits in
regard to liability,
but distinct disadvantages in complexity of actually creating the
corporation as
well as significantly higher taxation:
sources, capital (money) and
staff to
incorporate.
7. individual
level (shareholder) as individual income. There are exceptions
to this
double taxation involving an S-Corporation and LLC’s where
taxation is
similar to a partnership, and income is taxed once.
access
capital markets by issuing securities.
they have
some additional responsibility (management or director), they
have no
additional personal liability.
As you study finance, you should keep in mind the goal of the
firm:
—goal is to maximize profit. This definition
runs into
short/long run problems.
—goal is to maximize stockholders’ wealth by
maximizing
stock price. Under this definition, investors take a broad look at
corporate actions when bidding stock prices up or down.
In addition to understanding the importance of maximizing
shareholder wealth,
often corporate management must consider stakeholders
8. including:
stockholders, employees, suppliers, creditors, the local
community, and
management.
BBA 3301, Financial Management 3
In considering the goal of the firm, you will note the possibility
for an agency
conflict. This may occur when ownership of a widely held
corporation is
dispersed so no one has enough control to influence/remove
management.
When this occurs, it allows top management to become
entrenched in positions
controlling large amounts of resources and using them for their
own benefit.
Agency conflict can be controlled through active shareholder
involvement and
monitoring and tying management compensation to stock prices.
The second part of this unit is a review of content that is
usually covered in a
basic accounting course. Often, students find the need to brush
up on the
financial statements and taxes as they begin finance. Don’t
forget, accounting is
the “language of finance.”
9. There are three core financial statements (and their respective
components) that
are important to finance and financial decision making. They
are listed below
along with their key features:
1. Income statement
e
2. Balance sheet
bilities are arranged in order of decreasing
liquidity –
ease with which an asset becomes cash
cash,
accounts receivable and inventory; or they can be longer lived
10. assets known as fixed assets such as plant, property and
equipment. Note that depreciation is a non-cash expense that
lessens tax obligations while reducing book value of assets.
payable,
accruals, and forms of long-term debt (loans). The percent of
debt in
capital structure, also known as leverage, impacts returns to
shareholders because of the fixed nature of interest payments.
– Current Liabilities
tock, preferred stock, and
retained
earnings.
– Dividends + New Stock
Sold=
Ending Equity
3. Statement of cash flows
In finance it is important to understand the impact taxes have on
decisions and
the after tax returns to investments. There are three classes of
taxes: those on
wealth, income, and consumption (sales). Total effective tax
rate (TETR) is the
total or combined rate to which the taxpayer is subject and is
found with the
following equation
11. BBA 3301, Financial Management 4
TETR = Tf + Ts (1 – Tf)
where
Tf = federal tax rate
Ts = state tax rate
U.S. income taxes, whether corporate or individual, are
progressive in nature.
This means the percentage tax actually increases on a marginal
benefit. As
higher income is earned, a higher percentage of each
incremental dollar earned
is levied by the government. The current individual and
corporate tax rates are
identified in the charts below:
The above table can be found in your textbook on page 50.
Corporate Tax Rate
The above table can be found in your textbook on page 54.
12. There are two primary types of income taxes, those on ordinary
income and
those on capital gains (profits on selling assets). Historically,
capital gains tax
rates have been lower than taxes on ordinary income.
Now take a look at the supplemental reading materials and the
problems in the
assignment section. Along with the lecture, you have good
review tools and the
beginnings of your financial foundation. It won’t be long and
you may consider
yourself a financial whiz kid.
BBA 3301, Financial Management 5
Supplemental Reading
From the CSU Library:
Rapoport, M. (2012, February 21). U.S. nears accounting shift.
Wall Street
Journal (Online). Retrieved from Wall Street Journal database.
Anonymous. (2012, March 20). The U.S. Is number one; On
April 1, Japan
cedes the highest corporate tax rate to America. Wall Street
Journal
13. (Online). Retrieved from Wall Street Journal database.
Anonymous. (2012, January 23). Keeping accounting honest,
useful. Wall Street
Journal (Online). Retrieved from Wall Street Journal database.
Learning Activities (Non-Graded)
Calculate the tax liability for corporations with the following
EBTs:
a. $250,000
b. $500,000
c. $15,000,000
d. $50,000,000
Calculate the process in detail. You do not need to submit this
learning activity to
your professor.
http://search.proquest.com/docview.lateralsearchlink:lateralsear
ch/sng/author/Anonymous/$N?site=wallstreetjournal&t:ac=9289
89594/Record/1362DC4324D189FD16E/6&t:cp=maintain/result
citationblocks
http://search.proquest.com/docview.lateralsearchlink:lateralsear
ch/sng/author/Anonymous/$N?site=wallstreetjournal&t:ac=9171
38330/Record/1362DC2CDBC7DFDD5DB/4&t:cp=maintain/res
ultcitationblocks
GRADING RUBRIC
14. Good (14-11)
OK (10-6)
Poor (5-0)
Score
Organization
Clear and appropriate beginning, development and conclusion.
Paragraphs and transitions are clear and appropriate.
Adequate beginning, development and conclusion. Adequate
paragraph structure/flow and transitions.
Organizational structure and paragraphing have serious and
persistent errors.
Mechanics
No major errors in word selection, sentence structure, spelling,
capitalization and/or punctuation.
Multiple errors in word selection, sentence structure, spelling,
punctuation and/or capitalization.
Serious and persistent errors in word selection, sentence
structure, spelling, punctuation and/or capitalization.
Formatting
Perfect formatting of document.
Minor formatting errors in document.
Several formatting errors.
Sense of Audience
Strong concern for audience demonstrated through organization,
tone, and word choice.
Adequate sense of audience demonstrated through organization,
tone, and word choice.
Poor sense of audience demonstrated through organization,
tone, and word choice.
Critical Thinking
Document clearly identifies and clarifies the problem and
15. arrives at the best solution.
Document doesn’t clearly identify and clarify the problem and
arrive at the best solution.
Document doesn’t identify and clarify the problem nor arrive at
any solution.
Research
The topic under discussion seems thoroughly researched.
The topic under discussion seems adequately researched.
The topic under discussion seems poorly researched.
Total:
Peer Review (10
points) ________
Followed submission
guidelines (6 points) ________
Total Points (100)
_________
EMAIL ASSIGNMENT
What to do:
· See the example email on page 124.
· Read through that to see this very good example of a well
written email.
· Pretend that I am Aiden and that you are Liz and respond to
this email.
· Use my real name and your real name in place of theirs.
· For a little more info about the company, see 5.6 on p. 147.
However, do not follow the directions for the assignment in 5.6.
Just refer to the background info about the company.
· Prepare a rough draft of your email in a Word document and
bring to class on Thursday to be peer reviewed. Be there on
time with your hard copy as this peer review is worth 10 points.
· Do not send as an email yet. You will do so after you have
revised your rough draft.
16. Note: Do some reputable research to support your response.
And, make sure you follow all the guidelines for writing an
effective email discussed in the chapter and in my lecture.
POINTS: This assignment is worth 100 points.
BBA 3201, Principles of Marketing 1
Course Learning Outcomes for Unit VII
Upon completion of this unit, students should be able to:
1. Discuss the importance of determining value proposition to
the consumer.
1.1 Relate the importance of the value proposition to
competitive advantage
with respect to the promotional strategies of a company.
4. Explain how the marketing mix is used to reach the target
market.
4.1 Analyze whether a company maintains a competitive
advantage in
reaching its target market with respect to its promotional
strategies.
7. Examine pricing strategies utilized in an organization.
17. 7.1 Explain how a company uses components of pricing to
establish its
overall pricing strategy.
Unit Lesson
Price as defined by Perreault, Cannon, and McCarthy (2015), is
the amount of money
that is charged for something of value. Obviously, price is
controllable by the company
and has a significant impact on the overall profitability. The
reality of setting price
levels is that the optimal situation is setting prices high in order
to achieve the highest
profit for the company. While this is outwardly true, a marketer
needs to take a step
back and establish what the market will bear. In other words, it
needs to be
determined how high a price the target market is actually
willing to pay before they will
move to the competition. This ties in directly with how valuable
the product/service
really is to the target market. Pricing has many elements,
beginning with the flexibility
of the overall pricing structure. For instance, are the prices the
same for every
consumer that purchases the product, or does each consumer
have the opportunity to
bid or negotiate the price level? With respect to the large
retailer Macy’s, prices are
not flexible because pricing is established for every customer.
Contrary to this
example, a Ford dealership utilizes the flexible pricing model
18. where consumers
actually negotiate the final selling price of the automobile that
they are about to
purchase. Flexible versus not flexible pricing strategies tend to
be somewhat aligned
with industries, but not always.
Perreault et al. (2015) describe three pricing objectives: profit
orientation, sales
orientation, and status quo orientation. Beginning with the
profit orientation, this
suggests that the company is interested in obtaining a certain
profit level. What this
means is that the company will set the pricing level based upon
achieving this pre-
determined profit level. Companies that tend towards profit
orientation are ones that
might be looking to recoup high investment costs they have on
their books. The
second type of pricing objective is that of sales orientation.
This strategy looks at
increasing sales but not necessarily profits. This suggests that
marketers might not be
looking at the high costs of selling the product. The idea of this
pricing strategy is to
increase overall market share, which can create obvious long-
term competitive
advantages. The final pricing strategy is that of the status quo
objectives which are
Reading
Assignment
Chapter 16:
Pricing Objectives and
Policies
19. Chapter 17:
Price Setting in the
Business World
Suggested Reading
See information below.
UNIT VII STUDY GUIDE
Pricing Strategies
BBA 3201, Principles of Marketing 2
also dubbed the “don’t rock the boat” strategy. This suggests
that the company will
meet the competition but not attempt to under-cut or over-cut
the competition. The
idea behind this strategy is to avoid creating a pricing
battleground that could
ultimately have a negative impact on ALL players in the market.
Marketers also look at specific pricing tactics when establishing
their pricing policies.
The tactics listed below take on a demand orientation, meaning
that they weigh factors
like expected customer tastes and preferences more heavily than
20. other factors.
that of their
competitors and then dropping the price after a certain period of
time. A prime
example of this might be Apple who tends to introduce their
products at very
high price points only to drop their prices sometimes less than a
year later.
that of their
competitors to generate interest and then gradually raising
prices. This is
probably the technique that we see most often used.
setting the price high
and maintaining that price point. The quality of the
product/service is
perceived to be higher with the higher price point. This tactic
tends to be used
by high-end companies such as BMW or Nordstrom’s. If the
prices were
dropped, consumers might perceive that there is something
wrong with the
product.
Another approach is that of a more cost orientation, meaning
that the firm is basing
their pricing tactics on the overall costs of producing the
product or service.
21. -up pricing: This pricing tactic involves
establishing the price
point based upon a certain fixed percentage being added to the
cost of the
item.
a specific amount
to the cost of the item. While both of these tactics will cover the
company’s
costs in producing the product, it does not take into
consideration market
fluctuations or target market preferences.
The third approach is that of a profit orientation, which
suggests that the firm’s primary
interest is in reaching a certain profit level.
company is setting
an annual profit target and prices are set based upon this.
like the above
except that prices are based upon an established annual return
on sales.
similar to the above
except that prices are set based upon an established return on
investment.
22. These three strategies provide the benefit of ensuring that a
company is reaching
certain target levels, which is very favorable for publicly held
companies. On the other
hand, the obvious disadvantage is that this does not take into
consideration the
market and consumer fluctuations.
The final approach we will discuss is that of a competition
orientation, which suggests
that prices are set based upon what the competition is doing.
sets their prices
solely on the pricing level of the competition.
-the-market, at-the-market, or below-the-market
pricing: This pricing
tactic is practiced when a marketer makes a concerted effort to
establish one
of these levels with all the products within their company. This
provides a
certain brand identity with respect to pricing.
BBA 3201, Principles of Marketing 3
– This pricing tactic suggests that
marketers are setting
prices low on one product in order to attract consumers to other
higher priced
23. products. Understand that this is not deceptive because the
lower priced items
are still available for purchase.
Other pricing strategies could include the use of discount
policies or reductions from
list prices. This could involve quantity discounts, seasonal
closeouts, trade discounts,
or simply sale prices. At the end of the day, consumers love to
feel as if they have just
received a good deal, which this strategy reinforces. Perception
is half the game when
it comes to establishing an effective pricing strategy for a
company’s target market.
References
Perreault, W., Jr., Cannon, J., & McCarthy, J. (2015). Essentials
of marketing: A
marketing strategy planning approach (14th ed.). New York,
NY: McGraw-Hill.
Suggested Reading
Click here to access a PowerPoint presentation of the Chapter
16 material.
Click here to access a PDF version of this presentation.
Click here to access a PowerPoint presentation of the Chapter
17 material.
24. Click here to access a PDF version of this presentation.
https://online.columbiasouthern.edu/CSU_Content/Courses/Busi
ness/BBA/BBA3201/14P/UnitVII_Chapter16Presentation.ppsx
https://online.columbiasouthern.edu/CSU_Content/Courses/Busi
ness/BBA/BBA3201/14P/UnitVII_Chapter16Presentation.pdf
https://online.columbiasouthern.edu/CSU_Content/Courses/Busi
ness/BBA/BBA3201/14P/UnitVII_Chapter17Presentation.ppsx
https://online.columbiasouthern.edu/CSU_Content/Courses/Busi
ness/BBA/BBA3201/14P/UnitVII_Chapter17Presentation.pdf