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Finance & Accounting Essay

Using latest financial information available through Annual Reports available on the Volex Group (www.volex.com) and other information relevant to the company, you are required to write a report to existing shareholders on any TWO of the following issues
Increased average lifespan in the developed countries coupled with greater emphasis on the preventive measures have also caused a huge demand in healthcare sector in this part. Moreover, the current recessionary trend has a little effect on the demand of healthcare sector. That definitely goes well with the company’s healthcare strategy.The company proudly proclaims that Volex has obtained ISO 13485:2003 accreditations this year for its three international manufacturing facilities in Poland,
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Balanced scorecard evaluation
From this feedback, managers are able to identify necessary adjustments that can be made to ensure that the company achieves its outlined goals and objectives. BSC is a financial and non-financial performance measurement tool. This means that apart from measuring the current performance of a company in terms of finances, a BSC as evaluates the efforts of a firm to make future improvements using customer, process and learning and growth metrics (Niven 2006).As noted in the above discussion, the
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Supply chain management (SCM) and Customer Relationship Management (CRM) systems
This section shall differentiate traditional management systems from CRM in terms of differences in approaches, achieving efficiencies, costs savings, and firm profitability.A good example that could be used in comparing traditional management systems with CRM is the marketing function of an organization. Under traditional management systems the marketing was product-based and company focused. Management was more concerned with how much control they have on the message conveyed to the customer.
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Experience of Small Business
The general partners partake in the management of the business and fully share in its profits and losses. The limited partners on the other hand do not partake in the management of the business but share in its profits. However, their losses are determined by the extent of their investment (Reed, 2010). Peacock (2004) states that as for a Limited Liability Company, no partner is personally liable for any debts incurred by the business. Before commencing with business, all partners make a
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Academic research has no real life relevance and makes no contribution to the development of accounting and/or finance regulation
John McCain, promised greater regulation of the finance industry and to rein in ‘self-interest, greed, irresponsibility and corruption’ “ (Bratton, Denham, & Deutschmann, 2009, pp. Unquestionably, the academic world is—although some may argue to the contrary—concerned about real-world applications of their findings to the world of finance and accounting. It may be difficult to do, but many academics are in favor of trying to extract the lessons that can be learned from real-life
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Subprime meltdown
At the same time, the numbers were misleading. Although the dollar value of loans was said to have increased; the number of defaults increased by more than that creating a vicious cycle of debt for the lending companies. They were lending more and more for less and less backup; hence, in effect they were lending more than their ability to do so. What was more surprising was that the documentation to support these loans was often missing which simply meant that there was great room for fraud or
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PARAPHRASE FOR QUESTION 1 AND 2
Therefore, it can easily be concluded that Potter was incompetent for the job he acquired at Dumbledore Enterprises.The owner of 51 % of Dumbledore Enterprises, Ronald and also one of the directors came to a decision about hiring Potter as an independent auditor. This decision is in direct violation with section 101, which clearly mentions that independence would be considered void, if the decision with painted with doubt as a result of a relative holding a key position in reference to the
Pages: 5 (1250 words), Essay
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Management Accouting
The traditional approaches to costing of the overheads has not been beneficial to the companies as these approaches are unable to provide the accurate allocation of the manufacturing and overhead costs to the products as per their actual share.Activity-based costing (ABC) is a modern and more established costing model which is used to allocate the costs that are attributable to the activities according to the usage of respective resources in accordance with the actual utilization by the good or
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Account theory
In other words, firms take input from the society and processes and sells this back as an output to the society. This assertion indicates that the society has a say in deciding on the legitimacy of how a business operates. In relation to Tesco, it has the vested task to ensure that its operations are in line with the accepted views and opinions of the people of the UK in order to remain acceptable.Davidson goes on to draw a distinction between what is legitimate and what is legal. He states
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International finance - lorient enterprises
The translation is either carried out at close of the period exchange rate or at the ordinary exchange rate during the period depending on the company’s policy of the parent company. There is a difference however in translation when it comes to the income statements. In the income statement translations are done at the usual exchange rate during the time period. In the case of balance sheets, translations are done at the predominant present exchange rate at the time of consolidation.Economic
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Understanding of the nature of cost, the link between physical processes of manufacture, or service provision, and cost incurrence, and the problems likely to be encountered in product or service cost measurement
They are mangoes, oranges, and bananas. The latter are the first hand products that will be required. At first, the cost of purchasing the raw products will be incurred. After this, the cost of labor will be incurred since this will have to be transported to the company.In the manufacturing, labor will be required since there must be workers who will be working to produce the final product. The cost of the latter has also to be accounted for. After the processing of the drink, there will be
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Intermediate accounting
A ratio lying within 1.5 and 3 indicates strong financial performance (Houston and Brigham, 2009).A current ratio of less than one is an indication that the firm might not be able to meet all of its financial liabilities if they are needed to be paid at the same time (Houston and Brigham, 2009). Current ratio that is relatively high and may indicate that the company is resting on a huge amount of money, rather than spending it in the company. Current ratio provides financial analysts and
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Standards-Based Decision Making
In our opinion, ABC Corporation’s financial statements require modification to expel the minor inconsistencies with the G.P, despite reflecting a true and fair view of the company’s financial operations.An audit report may provide a qualified or an ‘except for’ opinion after completing a corporate financial audit. Green and Associates may provide a qualified opinion if it believes that ABC corporation’s financial records are not in compliance with the G.P, despite representing a true
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International operation and Risk Management of Laird PLC 292
A significant contributor towards market growth is the investments made by the company in developing new products (Laird plc, 2013).The annual reports of the firm reveal that revenue obtained from the Performance Materials segment (£342 million) were comparatively higher than the Wireless Systems segment (£194 million) for the year 2013. Additionally, it was also seen that the assets and investment position of the company had remarkably enhanced due to acquisition of Nextreme. Under the
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Should the UK government restore the 50% additional rate of income tax
There were many debates among citizens wondering if the changes would enable the government to get as much as they had anticipated. For instance, 1.3 billion pounds in November 2010 rose to 3.05 billion pounds in December 2011. Great Britain (2010) noted that UK consisted of 31.3 million-taxpayer population but according to the revenue and customs estimate, only 236,000 citizens were entitled to pay the 50% rate in November 2010.Great Britain (2010) noted that the Liberal Democrat Government
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Nike and Adidas
Primary market segment of the company is athletes; however its products have become a fashion brand and are, therefore, purchased by non-athletes (Nike website).Nike is faced with exchange rate fluctuations because it buys and sells in diverse currencies. The industry is also highly competitive, and high brand value is no longer satisfactory for sustainable competitive advantage (Nike website). Also, a potential threat to the company is price sensitivity of the consumers. The company has the
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Management decisions & controls
The dysfunctional behavior expected to rise from the current performance measurement of the system is the controllability (Henri, 2006). This can result in many forms like while making budgets and setting up of targets, there is a room for poor decision making on short term in order to obtain the certain target. These targets can be in the form of number of retail stores, hiring and firing of the staff. The lack of controllability by the management of the company may result in the communication
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Discuss the reasons why activity-based costing may be preferred to traditional absorption costing in the mordern manufacturing environment
That traditional absorption costing uses a single, volume-based cost driver, is known to assign overhead costs to product depending on their relative direct labour usage. The result of such assumption is always an inaccurate cost of products.Apart from being accurate, activity-based costing is also believed to have the ability of improving business processes. An activity-based costing system allocates indirect cost on the basis of a particular product’s cost driver (Cokins 2006, p. The
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International Finance
The flexible price model assumes that the purchasing power parity holds continuously.Therefore, St=pt-pt* where St is taken as the logarithm level of nominal exchange rate for both countries. It may also indicate the domestic price of the foreign currency. p and pt* are taken to be the domestic and foreign price levels, respectively.The domestic money supply is a parameter that determines the level of domestic prices. Hence, the relative money supplies in two countries determine the rate of
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INTERNATIONAL FINANCIAL
According to him, about 81% of the nations which took part in the survey prefer or mandate the usage of IFRS for either the majority or all the public companies. Further, the majority of the remaining nations that have yet to mandate IFRS in home nation, including Japan, India, U.A and China, but these nations are permitting IFRS usage in some scenarios. Mackintosh highlighted that the ISAB’s high-standards have been already approved in various economies as it is being used by more than a
Pages: 12 (3000 words), Essay
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