Business Journal Practical Implications - 1604 Words

Section 3: Practical Implications If you review the statistics given by the Ivey Business Journal you will see that there is a big disconnect between employees and engagement with the company they employ. (Dan Crim, 2006) †¢ Only twenty-nine percent of employees are actively engaged in their jobs. These employees work with passion and feel a profound connection to their company. People that are actively engaged help move the organization forward. (Dan Crim, 2006) †¢ Fifty-four percent of employees are not engaged. These employees have essentially â€Å"checked out,† sleepwalking through their workday and putting time – but not passion – into their work. (Dan Crim, 2006) †¢ Seventeen percent of employees are actively disengaged. These†¦show more content†¦(Cook, 2008) Have key goals set of the vision you want the company navigate towards for the next three to five years. Use those goals to help determine how you place the SWOT coordinates in the proper places. It is also important share the results with the group that you polled. This will reaffirm the employee’s engagement and show that management is actively looking for solutions and suggestions. (Cook, 2008) Face to face meetings can also be affective in gauging how engaged and employee might be. In these meetings you can discuss topics such as, how visible the executives are, is the work environment a setting for collaboration, or giving the proper tools for success. (Cataldo, 2011) Now that the materials and information is gathered, what should management do to improve? First, they can evaluate what makes the drives the workers. Next show support buy having executive leadership engage just as they want all levels. Keeping open lines of communication will ensure that the employees are supported and in the know about the company’s future. Last, make sure you actually act on the results of all of the research you conducted. (Cataldo, 2011) A simple way to ensure you are staying compliant with engagement rules is to follow the ten â€Å"C’s† of employee engagement that is found in many texts. (Dan Crim, 2006) The ten topics consist of connecting, career, clarity, convey, congratulate, contribute, control, collaborate, credibility and confidence. (Dan

Example of Interview Protocol Free Essays

Interview Protocol: 1. How would you define biology? 2. How would you define life? 3. We will write a custom essay sample on Example of Interview Protocol or any similar topic only for you Order Now Give 5 examples of life and explain why they exhibit life. 4. What is the smallest unit of life? 5. Is soil alive? Why or why not? 6. Is air alive? Why or why not? 7. What body part makes us most alive? Why? Interview #1 Interviewer (LH): How would you define biology? Interviewee (BM): Um.. as a part of life LH: Okay, how would you define life? BM: Uh.. everything around you†¦from the sky to the grass LH: Can you give 5 examples of life and explain why they exhibit life. BM: Plants, because you need them to breathe oxygen, yourself, because you are you, animals, because they are part of the food chain (she flashed a thumbs up here because she was proud she recalled this information), the sun, because you need it to grow and not be moody, and water, water because everything needs water. LH: Nice.. what is the smallest unit of life? BM: Um†¦um.. um†¦I know this†¦ LH: I know you do†¦ (Another minute passed and never recalled despite looking around the room and looking directly at the cell poster) LH: Is soil alive? Why or why not? BM: Yes, because you can make it grow. LH: Is air alive? Why or why not? BM: Um†¦(about 30 second delay)†¦I am going to say no†¦ LH: Why not? BM: (she shrugs) LH: Okay, go back to how you defined life. How do you define life? What makes something alive to you? BM: It grows and survives. LH: Okay, so is air alive? BM: No, because it doesn’t grow. LH: One of your examples of life was the human body. What part of the human body makes you most alive and why? BM: Your heart because it makes everything move. Because you can live without a brain, can’t you? You can be brain dead. LH: But once your heart gives out then you are dead? BM: Yes, because you still can live†¦ LH: Without a brain but not without a heart? BM: You can live more without a brain then a heart. LH: Very nice, thank you for participating. Interview #2: Interviewer (LH): How would you define biology? Interviewee (YC): The study of life. LH: And†¦how do you define life? YC: Something that moving, breathing, functioning LH: Ok.. can you give me five examples of life and explain why they exhibit life. YC: Plants, cause they grow, humans, cause they move around, they function, they think and they also grow.. m.. wait†¦animals cause that’s like humans†¦. um.. LH: Two more YC: I really can’t think of two more. Those are the only ones I can think of right now. LH: Ok, so plants, animals and humans, what is the smallest unit of life? YC: The cell LH: And, is soil alive to you? Why or why not? YC: Um.. yeah because it makes things grow. LH: Okay.. is air alive to you ? Why or why not? YC: No, because in order to be alive you have to be, like, functioning, growing, moving and air is just two chemicals put together to make one chemical. LH: Okay, and what body part makes a human being most alive and why? YC: The heart because without your heart you can’t function, you can’t, because your heart makes your whole body function so without that you won’t be able to function. Because the heart is the one that produces the blood and the blood sends out to all of your†¦um.. cells and all your body parts. It also sends out reflexes. It also helps with your reflexes and everything. LH: Nice, thank you. Analysis: The most surprising part of the interview came after the interview when the two subjects started arguing about their answers. I invited two friends to come after school but interviewed them separately. After I was done with the second interview, the girls started discussing how they answered each question. Their focus was specifically on the last two questions: is air alive and what part of the body makes a human being alive? They started discussing molecules and molecular interactions in air that could create life or prevent life depending on the quality of air. In addition, they considered the importance of the brain in the human body and discussed the implications of being brain dead but still alive. After some discussion, the girls decided the brain is the coach and the heart is the player. Both students are basketball players so it helped them to process the information by relating to basketball. In other words, the coach gives direction but the players still have to execute the plays. Another point of interest was the correlation of grades with ease and accuracy of recall. My first subject is receiving a B in my class and the second subject an A. The first subject knew the concepts but had more difficulty with the exact definition. The first subject talked around topics demonstrating knowledge of content standards but had difficulty pinpointing her ideas. The second subject gave exact definitions and answers quickly. The comfort level was visible in the answers provided, both in accuracy and timing. In addition, despite discussing the characteristics of life, I realized both students still created a superficial definition of life. They summarized life as something that moves and grows and breathes, but they did not consider reproduction and they are made of cells and more technical aspects of the definition of life. The students also had trouble with their own definition when I started asking them about specific questions regarding living/non-living parts. Although it was interesting the second subject had a greater connection between her definition and her explanation of why a heart is the most critical organ for life. I also noticed when giving examples of life, both subjects focused on broad categories of life: plants, animals, humans and neglected specific examples of living things. I would be interested to see if a younger student would name specific living things or focus on broad categories. I suspect the broad categories come from the fact we are studying cells and just studied ecology and the focus is on plant versus nimal or consumer versus producer. After completing my interview I realized my questions were too narrow. I tried to predict what the students would say and create appropriate follow-up questions but the questions still had short answers. I need to reflect on how to write my questions to solicit longer responses with more detail to demonstrate feeling. The discrepancy between what I anticipated and what happened c ould be the result of the nature of the survey and the focus on content compared to my research survey that focuses on experiences and emotions. How to cite Example of Interview Protocol, Essay examples

Evaluation Of A Business Plan

Question: Discuss abouth the Evaluation of a Business Plan. Answer: Introduction Company Background In the year of 1974, the company JB Hi-Fi was established BY Mr. Jhon Burbuto. At that time the company only operated a single store in East Keilor (Jbhifi 2016). During the years between 1983and 1999, the company had opened 9 more stores in Australia (Jbhifi 2016). The company has offred different types of products such as home appliances, consumer electronics and air- conditioning. The company also sells all the renowned brand of T.V., Cameras, Computers, Speakers, Home theater and Portable Audio system and many more (Jbhifi 2016). The company also offers different types DVD music, recorded music and games at cheap price compare to the market. Mission and Vision Main business philosophy of the company is very simple. Mission of this company is to offer a specialist range of Hi-Fi and recorded music at lowest price to Australian customers (Jbhifi 2016). Maintaining this philosophy, the company has become one of the largest and fastest growing retailers of home appliances in Australia. The vision of the company is to become the largest retailer company is the country within next two years. Three Sources of Business Plan There major source of business plans are such as management, financial and marketing. They are discussed below: Management The company JB Hi-Fi has announced a major management restructure. Presently the company is trying to expand its focus on online marketing. CEO of the company named Richard Murray has announced that the day-by-day management team of the company will be strengthened. As the part of its expansion program, the company will increase its focus on digital and online marketing operations. For this purpose, James Saretta is appointed to take the role of Digital and strategy Director (Jbhifi 2016). He will be responsible for expansion and development of the organizations online business operation. Due to enhance customer experience in JB Hi-Fi website online sales of the company was increased by 28% (Jbhifi 2016). For this reason JB Hi-Fi website is recognized as one of the biggest appliance and consumer electronic in Australia. There are various other changes have been found in the management team. For example, Cameron Trainor (presently assigned as Merchandise Director) will take the responsibility of the marketing department along with his present role (Jbhifi 2016). In addition, Gary Siewart has been appointed as general manager of marketing who will report to Cameron Trainor. However, the previous role of marketing director of the company has been eliminated. In addition, Belinda Minieri will be appointed as a part of the senior management, who will take on the role of general manager of online and solutions operation. Financial Till 30th June 2016, the company has more than 194 stores in Australia and New Zealand. In future, the company has the opportunity to increase its business in these two countries. The company JB Hi-Fi is achieve to sales of $3.90 billion in the year of 2016 (). The total sales growth of the company is 8.3%. The net profit of the company after tax is approximately 11.5%. Gross profit of the company is increased by 8.4% (Jbhifi 2016). It has been found that the total operating cost of the company remained well controlled throughout these years. In future, the company will try to remain focused on minimizing indirect expenditure and increase productivity. Due to low financial and operating leverage, the balance sheet of the company continues to grow. The company is considered as a discount retailer, which has the ability to offer low price products through the scale of its business operation. The company offers the largest category of consumer electronics, home entertainment at discounted price. It helps the company to position itself in the mind of all customers. Marketing Gollenia (2016) stated that, good retailers always try to focus on low costs, right products and appropriate pricing. Company JB Hi-Fi is considered as one of the great retailers. Even if the company has grown to $2 billion organization, the management has not shifted its focus from that of the value player in the electronic retail market of Australia. The company is competing with big names such as Good Guys and Harvey Norman. The company is considered as a low price alternative, which has provided competitive advantage. According to the CEO of JB Hi-Fi, the company has deliberately positioned itself as low end branding and shop fittings. Human et al. (2015) stated that this strategy is highly effective during the downturn of market. Branding of the company can be hardly considered as slick. The company mainly uses slightly tacky and loud print advertising. However, the television advertising is minimally used by the company. However, the store fitting of the company has a second-hand feeling. They use lots of hand-drawn price tags and signage. It provides customers the opportunity of bargaining. Ripsas et al. (2015) stated that branding of the company is consistent for store and it has a consistent product range. The company uses Uechtritzs business model for this purpose. Market Analysis: Market Segmentation: JB Hi Fi has successfully divided the market in three distinct segment which are described below: Family Homeowners: This particular segment owns middle-end to high-end homes along with other electronic equipments. Half of the families have two incomes and more than half families earn around $78000. More than half families have cable TV and broadband internet connection. Single Homeowners: This particular segment owns their personal home only for them. They are mostly inclined towards using electronic technology. The median income has been assumed around $65000. Three quarter of the segment owns cable TV and broadband Internet Connection. Commercial Sales: This segment mostly contains SMEs and mid-size businesses. This particular segment is focused on purchasing expensive electronics equipment for various purpose regardless of their industry. Target Market Segment Strategy: JB Hi Fi mostly focuses on these market segments as they are most attracted towards new models and technological entertainment electronic devices. While majority of the homeowners have cable TV, many other families would be inclined to purchase new models of TV. Moreover, the professional single homeowners would be attracted towards innovative electronic devices for entertainment (Corbett et al. 2014). In addition to that, the small and mid-size business organization would require a large amount of electronic products. In order to attract these customers JB Hi FI would focus on minimizing their cost so that they can offer limited price for their product. In addition, promotional activities with latest technology will also help to reach maximum numbers of customers. Products JB Hi-Fi mostly operates its business in the sector of Home Entertainment Electronics Equipment. The product range contains various entertainment equipments such as large home appliances, hardware/electronics, video games, Blu-ray discs, DVDs as well as CDs. In addition to that, the organization also focuses on providing the business related products such as computing equipment, audio visual, BYOD Programs as well as corporate gift cards. Industry Analysis: The external market factors JB Hi-Fi is analyzed with the help of PESTLE model. PESTLE analysis P Political The legislative amendments due to the global requirements in Australia have immensely affected the business decision of company (Jones et al. 2013). The trade faces greater challenges due to the international trade laws and political instability. E Economic The high inflation rate immensely affects the online trading The high rate of Dollar highly affects the monetary transactions European economic crisis has also affected the internal market S Social The customers are inclined towards entertainment related electronics equipment They often focuses on the perceived quality and service availability T Technological The emerging social media technology has enabled the organization to undertake new marketing strategy (Kunz and Dow 2013) The online marketing and gaming market has been immensely improved by the advanced internet accessibility L Legal International trade law is a major factor for the business operation In addition to that taxation is a crucial element of business expansion E Environmental The company has to focus on several major areas regarding environmental preservation and recovery. These areas are Waste disposal Disposal of worn-outs Bulk packaging Noise reduction Strategy and Implementation Summary Competitive Edge The competitive position of JB Hi-Fi is analyzed with the help of Porters 5 Forces model. Porters 5 Forces Analysis Figure 1: Porters Five Forces Analysis (Source: Blank 2013) Marketing Strategy JB Hi-Fi would be focused on attracting the customers by offering a large range of products in a limited price. In order to bind the price in a certain level the company will emphasize on cost reducing techniques so that the products can be manufactured with limited expenses (Ghezzi et al. 2015). However, the company will also concentrate on the factors, where the quality of the products is not compromised. In this context, the organization will not reduce the cost of the quality control and materials. This way the organization would be able to ensure the quality of the products. JB Hi-Fi will also be focused on investing in proactive and aggressive advertising approach. It will undertake numbers of promotional activities in order to attract a maximum number of customers. The most effective promotional activities are discussed below: Inserts in Bills: The organization will construct the bills in such a fashion that the promotional messages will be conveyed to the customers. It will effectively increase a significant number of repeat businesses. It is most inexpensive, albeit powerful way to reach the customers. Website: In the contemporary technologically advanced era, any advertising campaign is not complete without online activities. The website campaign and advertisement is highly effective for reaching majority of the target audience in Australia, as most of the citizens actively use internet. In addition to that, the website also offers an effective platform for the customers to purchase the companys products in an easy and convenient way. Moreover, the social media sites are also quite useful platform for reaching the customers in a limited effort. Direct Mail: JB Hi-Fi will also use direct mail as a means of business communication. The customer database will be most effective for conveying necessary updates on the companys activities and product renovation. The company will be able to inform the messages regarding the new information regarding the organization. Sales Strategy The organization would be focused on implementing push sales for increasing the sales figure in a significant manner. The supportive shopping experience provision would be also helpful to encourage the customers to purchase from JB Hi-Fi stores. The regular greetings would be most effective for enhancing brand recognition and repeat sales. Financial Plan Projected profit and loss statement for the 1st year Pro Forma Profit and Loss Statement for JB Hi-Fi Amount (in $) (Debit) Amount (in $) (Credit) Revenue 27700 Closing stock 1700 Purchase of materials 7400 Carriage inward 900 Gross Profit 21100 Salaries to the staffs 11700 Maintenance expenses 910 Rent and rates 3000 Cost of building the internal structure 1400 Electricity charges 610 Other expenses 1000 Net Profit 2480 Projected Balance sheet statement for the 1st year Pro Forma Balance Sheet for JB Hi-Fi Amount (in $) Amount (in $) Assets: Fixed assets: Furniture 4700 Machineries 1400 Total fixed assets 6100 Current assets: Debtors 6100 Cash in hand 1700 Closing stock 1700 Total current assets 9500 Total assets 15600 Liabilities: Long term liabilities: Long term bank loan 4000 Current liabilities: Creditors 3700 Bank overdraft 1000 Total liabilities 8700 Owner's capital: Capital 6000 Reserve 900 Total Owner's capital 6900 Projected Cash flow statement for the 1st year Pro Forma Cash Flow Statement for JB Hi-Fi Amount (in $) Amount (in $) Profit from the operations 2480 Cash flow from operating activities: Add: Increase in current liabilities 570 Less: Increase in current assets 360 Total cash from operating activities 2690 Cash flow from investing activities: Purchase of new furniture -1000 Sale of old furniture 300 Total cash from investing activities -700 Cash flow from financing activities: Bank loan taken 4000 Capital provided by the owner 1000 Total cash from financing activities 5000 Net cash inflow 6990 Projected profit and loss statement for the 2nd year Pro Forma Profit and Loss Statement for JB Hi-Fi Amount (in $) (Debit) Amount (in $) (Credit) Revenue 31070 Closing stock 1870 Purchase of materials 8100 Carraige inward 1100 Gross Profit 23740 Salaries to the staffs 11700 Maintenance expenses 1010 Rent and rates 3000 Cost of building the internal structure 700 Electricity charges 900 Other expenses 1400 Net Profit 5030 Projected Balance sheet statement for the 2nd year Pro Forma Balance Sheet for JB Hi-Fi Amount (in $) Amount (in $) Assets: Fixed assets: Furniture 4900 Machineries 1400 Total fixed assets 6300 Current assets: Debtors 7400 Cash in hand 1600 Closing stock 1870 Total current assets 10870 Total assets 17170 Liabilities: Long term liabilities: Long term bank loan 4000 Current liabilities: Creditors 5070 Bank overdraft 1100 Total liabilities 10170 Owner's capital: Capital 6000 Reserve 1000 Total Owner's capital 7000 Projected Cash flow statement for the 2nd year Pro Forma Cash Flow Statement for JB Hi-Fi Amount (in $) Amount (in $) Profit from the operations 5030 Cash flow from operating activities: Add: Increase in current liabilities 1470 Less: Increase in current assets -1370 Total cash from operating activities 7870 Cash flow from investing activities: Purchase of new furniture -1400 Sale of old furniture 360 Total cash from investing activities -1040 Cash flow from financing activities: Bank loan taken 4000 Capital provided by the owner 500 Total cash from financing activities 4500 Net cash inflow 11330 Conclusion and Recommendation In Conclusion, it can be mentioned that JB Hi-Fi is already an established home appliance retailer of Australia. The main motto of the company is to offer consumer electronics and home appliances at cheaper price. In the year of 2003, the company had entered into the Australian Stock Exchange. Presently, the company is worth $2 million. However, the company still has limited presence in Australia and New Zealand. For this reason, the company will try more to expand its business in these two countries. The company also will try to improve its online business strategy. In order to help the company to improve its business plan, there are some recommendations given to the organization. They are mentioned below: Recommendations The company has to improve its website and make it more user-friendly, so that customers can easily purchase their goods from the company websites. The company has to improve its supply chain in order to distribute all the products equally at every corner of the country. The company has use social media marketing such as Facebook, Twitter in order to make effective interaction with customer References: Blank, S., 2013. Why the lean start-up changes everything.Harvard business review,91(5), pp.63-72. Corbett, A.C., Siegel, D.S. and Katz, J.A. eds., 2014.Academic Entrepreneurship: Creating an Entrepreneurial Ecosystem(Vol. 16). Emerald Group Publishing. Curley, A. and Slocum, J., 2016. Organizing a Startup Business According to Differentiation Strategy and Virtual Design. Fernndez-Guerrero, R., Revuelto-Taboada, L. and Simn-Moya, V., 2012. The business plan as a project: an evaluation of its predictive capability for business success.The Service Industries Journal,32(15), pp.2399-2420. Gately, C. and Cunningham, J., 2014. The Contributions and Disconnections Between Writing a Business Plan and The Start-up Process for Incubator Technology Entrepreneurs.Academic Entrepreneurship: Creating An Entrepreneurial Ecosystem (Advances in Entrepreneurship, Firm Emergence and Growth, Volume 16) Emerald Group Publishing Limited,16, pp.197-241. Ghezzi, A., Cavallaro, A., Rangone, A. and Balocco, R., 2015, April. A Comparative Study on the Impact of Business Model Design Lean Startup Approach versus Traditional Business Plan on Mobile Startups Performance. InICEIS (3)(pp. 196-203). Gollenia, L.A., 2016.Business Transformation Management Methodology. Routledge. Human, S.E., Clark, T., Baucus, M.S. and Eustis, A.C.S., 2015. Idea or Prime Opportunity? A Framework for Evaluating Business Ideas for New and Small Ventures.Journal of Small Business Strategy,15(1), pp.59-80. Jbhifi., 2016.JB Hi-Fi | Australias Largest Home Entertainment Retailer. [online] Jbhifi.com.au. Available at: https://www.jbhifi.com.au/ [Accessed 16 Dec. 2016]. Jones, C., Penaluna, A., Matlay, H. and Penaluna, K., 2013. The student business plan: useful or not?.Industry and Higher Education,27(6), pp.491-498. Kiznyte, J., Welker, M. and Dechange, A., 2016. Applying Project Management Methods to the Creation of a Start-up Business Plan: The Case of Blendlee. Kunz, D.A. and Dow, B.L., 2013, July. Organizing and Financing a New Business Venture. InAllied Academies International Conference. International Academy for Case Studies. Proceedings(Vol. 20, No. 2, p. 11). Jordan Whitney Enterprises, Inc. McAdam, J., 2013.The One-hour Business Plan: The Simple and Practical Way to Start Anything New. John Wiley Sons. Miller, A., 2014. A Vision of Capitalism, as it was Meant to be: A Social Purpose Business plan for FoodShed Productions. Mullins, J., 2012.The new business road test: What entrepreneurs and executives should do before writing a business plan. Pearson UK. Olsson, E., 2013. A long lasting effort: A tentative business plan for a health care e-learningsystem in Tanzania. Ripsas, S., Schaper, B. and Trger, S., 2015. A Startup Cockpit for the Proof-?of-?Concept.Erscheint imHandbuch Entrepreneurship, Wiesbaden. Thomas, D.F., Gudmundson, D., Turner, K. and Suhr, D., 2014. Business Plan Competitions and Their Impact on New Ventures' Business Models.Journal of Strategic Innovation and Sustainability,10(1), p.34. Turner, K. and Suhr, D., 2014. Business Plan Competitions and Their Impact on New Ventures Business Models David F. Thomas University of Northern Colorado Donald Gudmundson University of Northern Colorado.Journal of Strategic Innovation and Sustainability,10, p.1. Wentzensen, N. and Wacholder, S., 2013. From differences in means between cases and controls to risk stratification: a business plan for biomarker development.Cancer discovery,3(2), pp.148-157.

Accounting Ethics

Table of Contents Introduction Financial reporting practices Ethical requirements in financial reporting Conclusion References Introduction Accounting information is vital to internal and external users of financial accounts; accountants are expected to present accounting facts in logical and genuine manner to facilitate their relevance in decision making. Such information is required by managers, shareholders, government, potential investors, investors, capital lenders among others. Advertising We will write a custom essay sample on Accounting Ethics specifically for you for only $16.05 $11/page Learn More Hospitals are no exemption to the need of quality accounting data and information; the accounting department in medical facilities is a support department thus when it offers quality information it facilitates provision of quality and affordable medical services (Cleverly Cameron, 2007). This paper discusses financial reporting practices and ethi cal standards in health care finance. Financial reporting practices The accounting field is regulated by international and national accounting and auditing bodies that require organisation to make their books in a particular manner that can allow comparison and flow of information. The finance department of a medical facility needs to be equipped with qualified accountants to keep books of records and produce financial statements as required by regulators. The main required accounting statements are Consolidated Balance sheet, consolidated Cash flow statement, and Consolidated Income statements, Consolidated statements of stockholders’ equity and comprehensive income, and changes in assets ownership. For decision-making, accounting information required in a hospital set up is revenue and costs information, incurred when providing services; there should be effective internal control to ensure that there is transparency in use of finances. The main source of revenue for a hos pital is fees charged to patients when they receive various services from the hospital; the information of revenue is with the accountants thus they should offer the information for decision-making. There are other sources of revenue which include grants and government funding, they should be considered when making decisions. Disclosures made to external and internal accounting information users should be vetted to ensure there is transparency and the right, adequate and acceptable information flows to the right people. Accountants should thus be guided by acceptable code of conduct as far as reporting is concerned (Duska Duska, 2003).Advertising Looking for essay on accounting? Let's see if we can help you! Get your first paper with 15% OFF Learn More Ethical requirements in financial reporting International accounting standards have ethical expectations that they have for accountants; accountants should uphold integrity in all their processes; medical facilities fin ance department has the role of complying with the set accounting ethics. They should ensure that they perform their duties with honesty and for the interest of all parties to the accounts. It is understandable that this situation may have been a one time and thus deserves some consideration. The dependence on accounting information in hospitals raises the need for accountants to act with high level of professionalism and uphold acceptable accounting ethics. When accounting reports are produced, they should reflect the actual situation of a company so that they can be used for strategic decision-making. Resources in an organization are scarce; thus, they need to be well allocated to various programs. For efficiency, financial managers prioritise the project to be undertaken in a particular time and how. This may involve a day-to-day allocation of available resources in different programs. Financial management information is used for decision making. They assist management in maki ng current and future decision regarding the operations in a business. Information is crucial for decision-making since it offers a number of alternatives to choose. Many are the times that management accountants have information that can injure a company or one that can be of great assistance to the public. When faced with such a challenge, accountants should always act in the best interest of stakeholders contained. This calls for independence and need not to bow to pressure from the management company or the public. They should make high standard decisions and should not knowingly cause a company trade whilst insolvent. when it comes to statutory requirements like making tax returns, its ethical for accountants to ensure that the legal requirement of the nation are complied with; compliance is in terms of giving correct information without being late, correct reporting and making due payments.Advertising We will write a custom essay sample on Accounting Ethics specifically for you for only $16.05 $11/page Learn More There are changes in accounting field initiated by local policies like finance bills (mostly on matters relating to taxation) and international bodies like International accounting bodies (IFRS and ISA). For competency, which is an element of ethical behaviour, an accountant is expected to be up to date with such changes. An example of a change in international accounting standards is the change in new ways of accounting for SMEs in 2008 and change in accounting for leases (ISA 17) in 2010. A member of these bodies must be up to date with such changes (Baker Baker, 2011). Conclusion Financial management is important to medical facilities; it offers quality information that can assist to improve the quality, cost, and gains in medical facilities. To have high compliance, health facilities finance department should observe rules and regulations of national and international bodies; when these rules and regulations are complied with, then the accounting disclosures made will be in accordance to the law, acceptable, complete, and offers a true and fair view of their medical facility. Financial managers assume the duty of care to internal and external users thus should perform their duties with integrity; they should follow code of ethics required for the profession. References Baker, J. J., Baker, R. W. (2011). Health Care Finance Basic tools for Nonfinancial Managers. Sudbury: Jones and Bartlett Publishers. Cleverly, W. O., Cameron, A. E. (2007). Essentials of health care finance (6th ed.). Sudbury, MA: Jones and Bartlett.Advertising Looking for essay on accounting? Let's see if we can help you! Get your first paper with 15% OFF Learn More Duska, F., Duska, S. (2003). Accounting ethics. Massachusetts: Wiley-Blackwell. This essay on Accounting Ethics was written and submitted by user Edgar Y. to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Free Essays on Meat Packing

Rights and responsibilities in the meatpacking industry In the early twentieth century, at the height of the progressive movement, â€Å"Muckrakers† had uncovered many scandals and wrong doings in America, but none as big the scandals of Americas meatpacking industry. Rights and responsibilities were blatantly ignored by the industry in an attempt to turn out as much profit as possible. The meat packers did not care if poor working conditions led to sickness and death. They also did not care if the spoiled meat they sold was killing people. The following paper will discuss the many ways that rights and responsibilities were not being fulfilled by the meat packing industry. At the turn of the twentieth century â€Å"Muckraking† had become a very popular practice. This was where â€Å"muckrakers† would bring major problems to the publics attention. One of the most powerful pieces done by a muckraker was the book â€Å"The Jungle†, by Upton Sinclair. The book was written to show the horrible working and living conditions in the packing towns of Chicago, but what caused a major controversy was the filth that was going into Americas meat. As Sinclair later said in an interview about the book â€Å"I aimed at the publics heart and by accident hit them in the stomach.†# The meat packing industry took no responsibility for producing safe and sanitary meat. One reason for this problem was that there was no real inspection of the meat. A quote from â€Å"The Jungle† tells of a government inspector checking the hogs for Tuberculosis, â€Å"This government inspector did not have a manner of a man who was worked to death; he was apparently not haunted by a fear that the hog might get by before he had finished his testing. If you were a sociable person, he was quite willing to enter into conversation with you and to explain the deadly nature of the ptomaines which are found in tubercular pork; and while he was talking with you you could ... Free Essays on Meat Packing Free Essays on Meat Packing Rights and responsibilities in the meatpacking industry In the early twentieth century, at the height of the progressive movement, â€Å"Muckrakers† had uncovered many scandals and wrong doings in America, but none as big the scandals of Americas meatpacking industry. Rights and responsibilities were blatantly ignored by the industry in an attempt to turn out as much profit as possible. The meat packers did not care if poor working conditions led to sickness and death. They also did not care if the spoiled meat they sold was killing people. The following paper will discuss the many ways that rights and responsibilities were not being fulfilled by the meat packing industry. At the turn of the twentieth century â€Å"Muckraking† had become a very popular practice. This was where â€Å"muckrakers† would bring major problems to the publics attention. One of the most powerful pieces done by a muckraker was the book â€Å"The Jungle†, by Upton Sinclair. The book was written to show the horrible working and living conditions in the packing towns of Chicago, but what caused a major controversy was the filth that was going into Americas meat. As Sinclair later said in an interview about the book â€Å"I aimed at the publics heart and by accident hit them in the stomach.†# The meat packing industry took no responsibility for producing safe and sanitary meat. One reason for this problem was that there was no real inspection of the meat. A quote from â€Å"The Jungle† tells of a government inspector checking the hogs for Tuberculosis, â€Å"This government inspector did not have a manner of a man who was worked to death; he was apparently not haunted by a fear that the hog might get by before he had finished his testing. If you were a sociable person, he was quite willing to enter into conversation with you and to explain the deadly nature of the ptomaines which are found in tubercular pork; and while he was talking with you you could ...

Unit 6 Discussion Essay Example | Topics and Well Written Essays - 250 words

Unit 6 Discussion - Essay Example He compares General Motors to Volkswagen, the company which increased their investment in Audi and received a significant increase in their revenue (Rosevear, 2012). This is the best route for GM to take if it plans to reestablish itself amongst the world’s elite companies. Production of Cadillac may be a lucrative investment but the company already has made some other important investments that can be successful in the nearest future. This is a major challenge to the investment manager since he cannot stop an investment that is already earning the company millions. The investment is tested and, therefore, has an edge over the new one. The existing investments will, therefore, get more funds allocated to them in terms of capital. Maybe, the company has to make a painstaking anlysis to figure out what investments are the best and whatare not effective for the company. It is the only way the best investment decisions can be made. Rosevear, J. (2012). Why cadillac is crucial to GMs revival (GM). Stock Investing Advice: Stock Research. Retrieved from

Relationships in Second Life and How They Can Affect Real Life Essay - 1

Relationships in Second Life and How They Can Affect Real Life - Essay Example However, for many inhabitants of Second Life, it is not just a 3D online game, but another world that â€Å"†¦has its own economy and millions of residents who own and create property, make friends and even get married† (CNN Living, 2008). These virtual worlds (VWs) have become conduits for socialization, collaboration, entertainment, social networking, and business development (Mennecke et al. 371). In VWs like Second Life, users must build virtual representations of themselves through creation of customizable avatars, which gives them a 3D body that they control and provides a â€Å"tangible embodiment of their identity† (Ducheneaut, Wen, Yee, and Wadley 1151). Through the avatars, users can discover an ever-growing assortment of virtual sites, fabricate all sorts of items, from clothing to buildings, and create businesses to sell their goods or services, forge relationships with other players through their interactions with their avatars, and buy virtual property (Hayes 154). According to Dell, as many as 13 million people have logged on to Second Life at least one time and about 450,000 subscribers are from more than 50 countries are online in any given week, ranging in age from 18 – 72, 27% of which are female (Hayes 154). Researchers have begun to conduct studies to analyze the way self-perception formed through interactions in VWs affects behaviors in the re al world (Dell). According to Ducheneaut, Wen, Yee, and Wadley, "the choices users make when creating and customizing their avatar will have repercussions on their interactions with other users† (1151), which can cause users to create online personas that are sometimes the complete opposite of who they are in real life.