Cambridge Education Ltd provides HR/Payroll and Education services to schools within the Local Authorities. The company specialises mainly in the education sector and has been supporting HR and Payroll services and Education services to schools since 2000. Assisting with timely and accurate payments to employees are key objectives of the payroll department. In addition, the company ensures that the employees pay are applied under the Local Authority terms and conditions and also all statutory...
Accounting is the providence financial statements to others. The information presented is in numeric figures stating the assets or liabilities owed by a business. Economic activities of the business are being processed into reports and make known to decision makers showing the financial position of an organisation and its profitability of its operation. In business, numerous daily transactions happens between companies to companies, the accounting information which transacts through everyday ...
According to Sullivan and Sheffrin (2003), a budget is a list of all planned expenses and revenues, which would therefore make budgeting, the process of planning expenses based on expected revenues. The budgeting process is meant to aid in providing a forecast of income and expenditure and also enable the actual performance of the company to be measured against the budget. The key problem with this model and the topic of the discussion of this essay is the fact that the current market place i...
1. Understand organization’s ethical and value based approach to... Organizational culture is created by the strategic leadership provided by an organizations founder or top management. An organization's founder is particularly important in determining culture because the founder designates values and management styles on the organization that lasts for a long time. This may be good for a certain period but it can also be stifling over the long haul. For example, Walt disney's conservative in...
Introduction The fundamental objective of any business is maximization of shareholders' wealth. The realization of this prime objective should be accompanied by efficient allocation and management of scarce resources, and the business should generate a return greater than the investor's required return on invested capital. It is necessary to understand how the overall added value of the firm is created for building a successful business. In other words, it is important for the management to i...
The article, "Coming Up Short", by Christopher Ittner and David Larcker is about the use of non-financial performance measures by companies. Recently, there have been more and more companies using these to positively affect profitability. There can be a great benefit if these measures are used correctly; however, many companies are not realizing these benefits. First, this paper will discuss the advantages and disadvantages to using non-financial performance measures. Next, it will go through...
Australia has adopted full accrual accounting standards, consistent with IPSAS. According to the Financial Management and Accountability Act of 1997, accrual accounting was required to be adopted in budgeting, reporting and accounting. Since using accrual accounting, Australia was successful to show budget surplus in every year, to reduce liability and to bring economic growth in real GDP. (Mark Champoux, 2006) Progress In early 1990s, adoption of accrual accounting in Australia was to increa...
Borealis is a chemical industry company, which belongs to the leading producers of polyolefins. The company was founded in 1994 through a merger of the petrochemical divisions of two Scandinavian companies. Characteristic attributes of the petrochemical industry are the high technology dependency and therefore also a high importance of allocation of resources. Besides the petrochemical industry is a very cyclical business, e.g. the input prices are highly volatile. In the following sections w...
Our company, Riordan Manufacturing is a global plastics manufacturer employing 550 people with projected annual earnings of $46 million. The company is wholly owned by Riordan Industries, a Fortune 1000 enterprise with revenues in excess of $1 billion. While the introduction of ethics into the curriculum is laudable, it really is not what corporate compliance is about. In a sense compliance is beyond ethics--not because compliance is a higher form of ethical behavior, but because compliance i...
1) Explain the concept of the break-even point. The break-even point (BEP) is the spot at which cost and income are identical: there is no net loss or profit, and one has "broken even" in Economics, Business specifically cost Accounting. In other words according to Prof.Hossein Arsham, the break-even point is the point at which your manufactured goods stop costing you money to produce and sell, and starts to make a profit for your company. According to Michael.E.Cafferky and Jon Wentworth, "O...
