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Finance & Accounting Essay

Discuss the arguments for and against compulsory audit firm rotation and also for and against a total ban on audit companies(by which is meant firms of accountants) carrying out non-audit services
The main causes of impaired independence, which can be cured by audit rotation, are persistent close relationship with the client, keenness to satisfy the client and fear of losing the client where any fraud related issue is identified during the audit.If the audit company is rotated from time to time, the audit company will not have to fear for losing the client in case it highlights or reveals any fraud, deceitful acts of management or material misstatements which are actively concealed by
Pages: 7 (1750 words), Essay
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DEVELOPMENT OF THE UK CODE OF CORPORATE GOVERNANCE
That value maximizing decisions are taken heralded reliance on the market for corporate control to discipline management (Agrawal and Knoeber 1996, p.The concerns revolving around the evident failure of corporate acquisitions to convey the promised returns to shareholders were intensified by high profile cases detailing high incentives to top management not linked to outstanding corporate performance (Beiner, Drobetz, Schmid, and Zimmermann 2006, p. These events were underlined by a series of
Pages: 8 (2000 words), Essay
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Drawing on Nayyars framework for understanding the globalisation process explore the extent to which the financial crisis of 2008 has undermined international production and governance. In doing so, explain why global financial stability is important t
The benefits of globalization have been accrued only to the industrialized world and a small number of developing countries. For the majority of developing countries and their population, the process of integration within the world economy has not produced gains in terms of economic growth or poverty reduction since they did not create the essential preconditions and the process of integration was too swift (Kaminsky 2006, p.Pro- globalization promoters assert that globalization has led to
Pages: 6 (1500 words), Essay
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Discuss the view that increased regulation will not necessarily lead to higher ethical standards
This exercise presumably was expected to have more constructive results. The role of auditors in particular became a question mark after this scandal. Moreover on adoption of the corrective measures, the impact of current financial crises was also expected to have been mitigated to some extent; if couldn’t be eliminated in full (Argandona, 2012).Contrary to this and without taking lessons from Enron case, increased regulations were imposed on businesses. Increased regulation provided more
Pages: 8 (2000 words), Essay
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Disclosure and Financial Reporting
The Sarbanes Oxley Act or SOX is commonly referred as Public Company Investor Protection and Accounting Reform Act’ and ‘Auditing and Corporate Responsibility Accountability Act. Many investors had previously complained about the relevance and volume of financial information in their disclosures and were also unhappy of finding useful information in the disclosure and financial reporting by companies. In the above context, SOX was enacted in order to make it mandatory for companies to
Pages: 9 (2250 words), Essay
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Discuss the extent to which you believe the techniques and instruments of Management Accounting are relevant to the following two types of organisations: Hospitals and Universities
Even though most of the discussion in accounting literature has been industrial applications oriented, the technique itself is quite common and can be applied in a wide variety of businesses and types of organizations such as hospital and universities.This technique is often in accounting referred to as variance analysis. The technique is not, however, connected to the statistical variance procedure analysis. In accounting application, the term "variance" simply means the difference between two
Pages: 7 (1750 words), Essay
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Discuss the assertion that the sole purpose of the tax system is to promote economic growth
According to Soubbotina (2004; p56) economic growth, which refers to an increase in countries total output over a specified period, is driven by three important factors namely capital, labor and technological advancement. In other words, without investments, innovation, production and risk taking there will be nothing about economic growth. Production is of great significance because it is the only link between all drivers of economy. Most taxes are often concentrated along labor, investments
Pages: 9 (2250 words), Essay
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Developing Professional Practice
This skill that assists me to treat people as individuals thus ensuring interpersonal rapport is maintained. The skills can assist me in the future to attract and retain clients when I start my own business and also interact with employees professionally. Further training and practice of the skills can assist to add more value to what I have learnt.Team work is another professional skill learnt. Any profession requires teamwork spirit to make work easy and also to encourage different experts
Pages: 6 (1500 words), Essay
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Does the rotation of auditors improve the quality of auditing
As becoming too cosy with their corporate employers which changes the dynamics of how incumbent auditing firms view business practices and ideologies. When long-standing relationships are developed with existing auditing firms, auditors tend to give favourable opinions, rather than unbiased opinions, about the corporate-mandated auditing processes. Existing auditor relationships that have endured over time leads to trust-building between business and auditor which, in turn, creates a situation
Pages: 8 (2000 words), Essay
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Data Analysis
Dictator game experiment to collect data to find the core difference of behavior of men and women while undertaking economic decisions (Eckel and Grossman 1998).The authors of the study undertook testing of the hypothesis that exclaimed no difference between men and women and then the donations were taken under consideration. It was noted that men donated $0.82 on average while the amount was $1.60 among women. The statistical observation marked that p-value was less than 0. It is due to this
Pages: 8 (2000 words), Essay
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Discuss whether corporate carbon reporting can impact positively on climate change
Accounting as a procedure can and has been in use within organizations to assess and quantify the amounts of greenhouse gas emissions, which are produced directly and or indirectly by the processes of the organization. Currently being termed as carbon footprint, the accounting of carbon presents useful information, which according to the proponents of the ideology can serve to provide information for management of climate change and the associated effects in rising global temperatures as well
Pages: 7 (1750 words), Essay
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Dissertation review
The ‘Financial Fair Play (FFP) primarily seeks to ensure that the European football clubs are spending revenues that are able to generate by themselves, without the need to depend on sponsors and other external sources of funding to sustain the clubs (Aboraa, 2014:6).While this fundamental aim of the ‘Financial Fair Play (FFP) is very noble, there are a lot of difficulties associated with the implementation of the rules. This is because; the European football clubs also function as social
Pages: 5 (1250 words), Essay
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Do we expect the PPP theory to hold in the real world Discuss
Pn) is price index in home country and foreign index is given by P* = f (P1*, P2*, Pa*, .. Pn*), even then absolute PPP will prevail. Thus, the exchange rate is obtained by:There is no objection to theoretical implication, but its practical application was questioned several times because when location of commodities is changed, it is affected by transport cost, tariffs, quotas and taxes. Hence, the relative version of PPP was introduced, which determines the exchange rate while considering
Pages: 6 (1500 words), Essay
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Describe the performance track record and rationale behind the investment decisions of your Dummy Portfolio this term, in the style of a Hedge Fund Investor Letter
Brent Spot beginning level of 81.01 and end level of 77.75 and it has earned total loss of -4. NY Crude Oil had beginning level of 77.32 and end level of 73.69 and it has earned total loss of -4. The dummy portfolio has also earned negative returns or loss for spot silver, spot platinum, pound against dollar and pound against euro. Thus it can be said that the dummy portfolio has average to good return in the period.The stocks have been bought as they are performing high in the market. It can
Pages: 4 (1000 words), Essay
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Dividend policy and capital structure
If the capital requirements of the company are high then it is appropriate to offer dividends at low rates to ensure that the company does not face a financial backdrop. However, if the capital requirements are high, the company can offer dividends at improved rates since this will not change the functioning of the company and consequently the company may acquire new markets from the move.Shareholder Wealth Maximization is the goal of every company and it is what leads to an increase in
Pages: 9 (2250 words), Essay
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Discuss the advantages and disadvantages that may arise for Plinkco from introducing activity-based costing
Accountant for Plinkco Plc I have to introduce Activity Based Costing (ABC) and before adopting this system for overhead absorption let’s discuss its advantages and disadvantages both to Plinkco. So first I will start from the positive aspect of introducing ABC and comparing it with conventional costing system.The conventional costing system with setup cost and adjusted time is mentioned as overhead and classifies into different products depending on direct labor time whereas in
Pages: 6 (1500 words), Essay
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Discuss the reasons why activity-based costing may be preferred to traditional absorption costing in the modern manufacturing environment
Production innovation is essential in establishing cost effective production methods such as automation of the production line and use of digital systems to reduce the cost of power and labour (Frost, 2005). Thirdly, the environment involves the use of automated machinery, which minimises the cost of labour. Automation of the production line ensures that most of the operations of the company rely on technology, which reduces the cost of production (Lembersky and Lembersky, 2005). Finally,
Pages: 6 (1500 words), Essay
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Discuss the use of currency options in risk management companies can use
For example, if an investor anticipates that the rate to buy Euro currency using the dollar will increase from 0.86 to 0.91, it indicates that it will be more expensive. Consequently, the investor requires a call option on the dollar/Euro so as to stand to gain from any increase in the exchange rates. These options have gained acceptable invaluable techniques in the management of foreign exchange risks; used to bring a wider range of hedging options to their unique nature. Moreover, options are
Pages: 9 (2250 words), Essay
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Discuss the effect of over-confidence on investors decision making
Investors form certain prejudices about the market, company and the stock that intend to invest in. Their emotional quotient guides their decisions, thus making them over-confident. Such behavioural exhibit results in poor investment, resulting in low capital appreciation. Retail investors, owing to their limited knowledge invest in very less stocks and instruments thus are exposed to high risk. They usually follow the notion of good companies have good stocks. Over confidence inhibits
Pages: 12 (3000 words), Essay
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Debate of separating retail banking from investment banking 02051
Post crisis, significant planned changes have been brought in European banks while structural changes in business models have been brought in by various global banks. Several regulatory rules have been proposed for improving effectiveness of risk capital model and treat the issue of capital scarcity with utmost sincerity.It has already been mentioned that commercial banking is not devoid of flaws and risks and consequently, it was established that commercial and investment banking require high
Pages: 10 (2500 words), Essay
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