Finance Accounting Essay Example | Topics and Well Written Essays - 1000 words

Finance Accounting - Essay Example The accounts above are made in light of portraying a true picture to the shareholders as well as any investors interested in the company. The true and fair view concept has been at the heart of financial reporting in the UK for over forty years. In recent years there has been a major increase in the international importance of this concept. This has come about with its adoption by the European Community in the Fourth Directive on company law and its implementation in all Community countries. However, this concept has never been defined in UK legislation, and a variety of meanings can be attributed to it. In view of the recent international developments and given that the UK is the source of the concept, this study sought to elicit the views of senior UK practitioners on the true and fair concept. The FRC has laid three points: that the concept of the 'true and fair view' remained a cornerstone of financial reporting and auditing in the UK; that there had been 'no substantive change in the objectives of an audit and the nature of auditors' responsibilities'; and that the need for professional judgement 'remained central to the work of preparers of accounts and auditors in the UK'. To support the application of the "true and fair view", accounting has adopted certain concepts and conventions which help to ensure that accounting information is presented accurately and consistently. The most commonly encountered convention is the 'historical cost convention'. This requires transactions to be recorded at the price ruling at the time, and for assets to be valued at their original cost. This is applicable when the calculations were made for the fixed assets of plant and machinery, fixtures and fittings and buildings. Under the...In view of the recent international developments and given that the UK is the source of the concept, this study sought to elicit the views of senior UK practitioners on the true and fair concept. The FRC has laid three points: that the concept of the 'true and fair view' remained a cornerstone of financial reporting and auditing in the UK; that there had been 'no substantive change in the objectives of an audit and the nature of auditors' responsibilities'; and that the need for professional judgement 'remained central to the work of preparers of accounts and auditors in the UK'. To support the application of the "true and fair view", accounting has adopted certain concepts and conventions which help to ensure that accounting information is presented accurately and consistently. The most commonly encountered convention is the 'historical cost convention'. This requires transactions to be recorded at the price ruling at the time, and for assets to be valued at their original cost. This is applicable when the calculations were made for the fixed assets of plant and machinery, fixtures and fittings and buildings. Under the "historical cost convention", therefore, no account is taken of changing prices in the economy. The other convention used is the monetary measurement concept.

Saudi Aramco oil company Essay Example | Topics and Well Written Essays - 500 words

Saudi Aramco oil company - Essay Example The current discourse hereby aims to provide a general overview of the organizational profile of Saudi Aramco, to include a brief historical background, its leadership, employees’ profile, as well as the motivational and incentives program provided by management to retain and development their current and future human resources. The origin of Saudi Aramco could be traced in the 1930s when an oil concession was reportedly signed between Standard Oil Company of California (Socal) and Saudi Arabia specifically on May 29, 1933 and which eventually was construed to be managed by the California Arabian Standard Oil Company (Casoc) on November 8 of the same year (Saudi Arabian Oil Company, 2012). Other relevant milestones in Saudi Aramco’s history apparently included the acquisition of 30% of the concession by Texas Company in 1936; and in 1948 when their historical preview disclosed that additional owners were instrumental in the organization’s further growth and expansion. It was in 1988 that the organization allegedly became state-owned through a Royal Decree that was issued by King Fahd (Saudi Arabian Oil Company, 2012). As a state-owned organization, Saudi Aramco was indicated to officially disclose relevant organization information â€Å"to the Supreme Council for Petroleum and Minerals Affairs, chaired by the Custodian of the Two Holy Mosques, King Abd Allah ibn Abd al-Aziz Al Saud† (Saudi Arabian Oil Company: Our leadership, 2012, par. 1). The organization acknowledges the need for leadership development programs to ensure that those who manage diverse facets and operations are professionally competent and qualified to lead. There were specifically identified ways to develop the full potentials of human resources to include access to company-wide training and development programs; being sponsors to apprenticeship and specifically identified college development programs; and endowment of academic chairs for qualified personnel to assume

Explain how the management practices of planning, leading, organizing, Essay

Explain how the management practices of planning, leading, organizing, staffing, and controlling are implemented in your place o - Essay Example Leading – is the process where all the organizations resources, including manpower, are effectively led towards the fulfillment of the stated objective. It includes motivating the people to optimize their performances. Organizing – determines the tasks that need to be done to achieve the stated objectives and goals. The organization’s structure is also defined at this stage where functions can be effectively dispensed and to establish who decides what. Staffing - is the stage or process of determining the personnel who can do the job best. It also involves the determination of how many people are required for a task to be accomplished. Controlling – is the tool where management can measure its actual performance compared to the intended plan. Through controlling, management is enabled to apply corrective measure if there is a deviation in performance vis-a-vis intended plan. II. How are these principles implemented in the workplace? I used to work in a sta rt up fast food chain and was involved in setting up of its new branch. I was a new employee and was assigned to tag along the branch manager and was asked to perform as a support system to the setting up of the new branch. My functions then are not clearly defined as I was involved in almost all aspect of the business but it gave me an insight on the different aspect of management. It gave me an idea that running a business is both a science and art where there are principles that needs to implemented and also tools to be used for the successful management of a business enterprise. The first stage: Planning Before going to the actual site, and doing anything the manager first planned on what to do and how do we intend to things. From what I recall, the objectives must be first established as a core part of planning. In our case, the first and most important objective is to make the store operational in three months within a specified budget. Schedules were then established along wi th commensurate tasks that need to be performed for the objective to be realized. Management tools were employed such as the Gantt chart, Program Evaluation and Review Technique (PERT) and Critical Path Method (CPM) to ensure that everything will go on schedule to realize the objective of opening the store in three months (Gomez-Mejia, 2002). The planning stage took a while because it involved several studies to determine on how some functions can be done with a smaller budget and shorter period of time. Example for this is the consideration on how the physical be set up at a lesser cost. Leading When the objectives were already clearly defined and the tasks needed to accomplish were already enumerated, the Branch Manager, has to pull its human resources together and direct our efforts and energy towards the fulfillment of tasks on schedule. In addition of clearly defining what needs to be done in a specific time-frame to accomplish our objectives, the Branch Manager also motivated his people by giving favorable write-ups and small incentives if we accomplish tasks within the stated time-frame (Gray, 2008). Organizing After defining the tasks involved on how to accomplish our objective, tasks were then specifically assigned to each employee where we are responsible for its completion. Task varies after the completion of each task and is usually time bound. The branch manager had to check time to time to ensure that each one of us is within schedule and that there is no duplication of work to

An investigation into issues surrounding consumer online purchasing Dissertation

An investigation into issues surrounding consumer online purchasing influenced by Facebook and Twitter - Dissertation Example A primary research method was used and a survey instrument with 30 questions based on the Likert scale was used. This was administered to a research sample of 200 and the responses analysed using SPSS. Findings from the research indicate that fashion firms use a number of methods and tools for promotion. These include Facebook posts, online reviews, and posts about latest events, trends, celebrity wear, online galleries, discounts and promotion codes. In addition they use eWord of Mouth advertising, buzz marketing and viral marketing. Facebook has also introduced Facebook stores that are micro sites for small and medium enterprises and introduced the Facebook Commerce, which is similar to e-Commerce but based on the Facebook marketplace. Facebook users place a high level of reliance and trust on the online reviews and posts and base their purchase decisions on these reviews. The research concludes by indicating that Facebook has emerged as the new marketplace for fashion products sin ce it brings together customers, sellers and hosts promotions and reviews that attract customers. Table of Contents 1. Introduction 13 1. Introduction 13 1.2. Literature review 15 1.2.1. Internet users 15 1.2.3 Online word of mouth 15 1.2.4. Social media 17 1.2.5. Social media marketing 17 1.2.6. Consumer’s purchase decision behaviour 19 1.3. Research Aims and Objectives 21 1.4. Time schedule 21 1.5 Resources 23 2. Literature Review 23 2. Literature Review 23 2.1. Decision making with Facebook 25 2.1.1. Items purchased with social media 29 2.1. 2. Facebook for selling and buying 29 2.1.3. Emergence of Facebook Store 35 2.1.4. Emergence of Facebook F-Commerce 37 2.2. Word of mouth and e-Word of mouth 39 Figure 2.1. Model for branding in eWoM (Jansen, et al, 2009) 39 2.3. Communication through social media 41 2.3.1. Buzz Marketing 43 2.3.2. Viral Marketing 45 2.4. Summary of the literature review 47 3. Methodology 49 3. Methodology 49 3.1 Introduction 49 3.2 Research Objectives 51 3.3 Research Philosophy 53 3.3.1 Deductive Approach 53 3.4 Research Design 55 3.4.1 Primary and Secondary Data 55 3.4.2 Quantitative Method 59 3.5 Sampling 61 3.6 Survey 63 3.6.1 Survey Design 63 3.6.2 Survey Limitations 65 3.7 Research Limitations 67 3.8. Summary 67 4. Findings and Analysis 69 4. Findings and Analysis 69 4.1. Analysis of various groups in the survey 69 Q1. I use Facebook to look at fashion items that inspire my own wardrobe. 71 Q2. I enjoy using Facebook because it gives me access to fashion ideas I would not otherwise have. 71 Q3. I use Facebook to look at celebrity styles and fashion items 73 Q4. The fashion item posts I see on Facebook inspire me to buy the same things. 75 Q5. I am compelled to buy fashion items to fit in with my friends who post their items on Facebook. 77 Q6. I use Facebook for fashion inspiration because it is free and I have constant access to it unlike fashion magazines. 77 Q7. I buy fashion items spontaneously 79 Q8. I am easily influe nced to purchase items because of fashion posts 81 Q9. I follow fashion on Facebook because it is updated much quicker than any other modes of media. 81 Q10. Once I purchase a new fashion item I post the details on Facebook 83 Q11. I actively search for fashion advice posted by people and pages on Facebook 85 Q12. I mostly use Facebook to be able to see what everyone else is wearing 87 Q13. I trust in the recommendations on products through Facebook 87 Q14. I take advice from Facebook and research online before a purchasing decision. 89 Q15. I am likely to be influenced to buy a particular brand if it is

Current Events Journal Article Example | Topics and Well Written Essays - 500 words

Current Events Journal - Article Example The government claims that it needs this program to fight terrorism. The American Civil Liberties Union (ACLU), representing those who have regular overseas dealings, took its case to District Court last March where it won its argument, but because of the stay requested by the government, surveillance is continued until the appeals process is complete. The government will submit its arguments to the court by October 13. The ACLU has a month to respond with a ruling expected to be rendered by the end of the year. Whichever side loses the appeal will likely appeal further to the Supreme Court. The ACLU contends that for the government to authorize the unwarranted surveillance of its citizens violates the Fourth Amendment to the Constitution which prohibits the use of general warrants and requires that probable cause be apparent. The National Security Agency (NSA) has had its surveillance program in place for five years in its global fight on terrorism but has not obtained the proper court-ordered warrants required by law in these monitoring activities. Judge Taylor ruled last August that this violates the civil rights of the Americans affected because the government is not presenting its justifications for its surveillance activities in court. Taylor had ruled that the NSA must stop this program but the 6th Circuit Court of Appeals allowed the stay of that ruling as requested by the government. The Bush administration continues to insist that the ‘Terrorist Surveillance Program’ is a necessary tool which ultimately protects American citizens. This program has been in existence since the September 11 attacks yet the public has only recently learned of it. There are concerns that civil liberties, which are supposed to be protected by the Constitution, are being eroded by a government that is overstepping its powers by wiretapping Americans without benefit of a court-ordered

Philosophical issus Essay Example | Topics and Well Written Essays - 250 words - 1

Philosophical issus - Essay Example s is mainly because one belongs in, a family may have high standards of behavior code where the members are trained to act and behave in a certain manner which may be very different from others. Additionally, community based behavioral system where they have established rules and regulation on behavior, for example, in some African communities it is wrong foe a young person to salute the elders with their hands instead the young person beds and the elder touched the forehead of the young person as a sign of respect (James and Stuart 100-187). Kantian ethics auger well with the conception of morality ethical this is because it mainly deals with moral realism, which claims that moral propositions refer to objective facts, which are independent of human opinion. Moreover, ethical subject reflects a close relationship between morality and people’s feelings and opinions of some issues creates disagreement of people on correct direct issues that real dispute is not about objective truth but about their own preference(Richard, pp 56-89). According to the social contract theory, in the absence of rules, law, and political order human life would be solitary, poor, short and nasty the element. Personal moral however guides a person on doing what is wrong without being followed by anybody around and prevent them from engaging in immoral activities. (James and Stuart

The American School System Essay Example for Free

The American School System Essay Education is what keeps a society thriving; its what enables a society to thrive and create productive individuals who can keep the educational process on-going. The whole purpose of education is to enlighten us with truths, and create knowledgeable people. We must ask ourselves, what is the point of creating knowledgeable people? We answer this with a question in return; where would we be without knowledgeable people? In The Republic, Plato extensively analyzes these questions, and helps us come to the conclusion that without education, people would be as clueless as inanimate objects. We can come to the consensus that knowledgeable people are the ones who prosper in life, and overcome lifes harsh obstacles. How do they do it? They are able to do it because they have the ability to think and evaluate. We also asked ourselves where does one receive this knowledge? In todays world, one would receive it through â€Å"education. † And where does one receive the education? At school. Plato had a vision that the attaining of knowledge should be one full of thought, opposing ideas, and intricate study. With that said, I believe that Plato would not think too fondly of the current American public school system! â€Å"Unless a man is able to separate out the idea of the good from all other things and distinguish it in the argument, and, going through every test.. you will deny that such a man knows the good itself, or any other good? † Plato is saying that unless a person is able to distinguish right from wrong, he or she will not know good itself. This ties in with the role of education because education should help us achieve that according to Platos view. Education should assist us in distinguishing right from wrong, good from evil. American public schools arent doing this, and I know this because I go to one. In American schools, its all about memorizing facts, and more facts. Nowhere in between are we taught how to tell from good and evil; how to tell if were being taken advantage of. Its almost as though teachers are scared to teach us this; as though they are confined to teaching us what has been approved by others. Plato states that students and learners should be exposed to many opposing ideas. This is what creates intellectual thinkers. Because American public schools dont offer an environment where students can analyze opposing ideas to their own, Plato would not be satisfied with our educational system. Throughout his allegory, Plato talks about how dialectic is supposed to be introduced to learners in order to challenge them with opposing views and ideas. â€Å" the power of dialectic alone could reveal it to a man experienced in the things we have just went through † Plato is saying that education through the form of dialectic is the most prosperous and intellectual way to learn and teach. American public schools dont offer a lot of dialectic seminars, so Id have to say that Plato would show great disapprobation to the way American public schools are run. Hed think that American public schools are run in a very prosaic manner. Kids inputs are not really valued, resulting in students who are not very ardent towards school. This may be the explanation for why kids are dropping out of school at all-time highs. Plato would also find disappointment in American public schools due to the lack of conspiracy theories, or interfering ideas. Plato was extremely vernal about the teachings of opposing ideas, and conspiracy theories fall directly under that category. Plato would be shocked to see that students believe everything that is taught to them at schools. He would wonder if any of the students had the capacity to think for themselves, and be able to analyze data and determine according to their own accord whether it is truth of false. I know conspiracies are not being taught at American public schools for a fact because whenever I head up to a teacher to talk to them about the possibility of 9/11 being an inside job, they closed their mouths and dare not to say anything. Plato would be astonished that societys very own educators are scared to include conspiracies or other forms of opposing ideas in their teachings. Although there are quite a few reasons for why Plato might think poorly of the American public school system, theres also reason why he might praise it. â€Å"Well then, the study of calculation and geometry and all the preparatory education required for dialectic must be put before them as children.. † Plato is stating that mathematics, and other forms of calculation, are fundamental to education. In todays age, we do place a big emphasis on math. I believe that Plato would be impressed by this. I believe its safe to say that Plato would be quite disappointed with out current public school system. Hed be wondering why the system doesnt place a large enough emphasis on dialectic and the teaching of opposing ideas, or in other words conspiracy theories. I couldnt blame Plato. I agree with most of his points made. I strongly feel that schools should offer new ways of teaching, and new material to teach.