Financial District

Financial planning is the process of implementing financial strategies and concepts in a coordinated and integrated manner, in order to uniquely address an individual’s financial needs, goals and concerns. Financial planning, in broad terms, encompasses cash flow and budgeting needs, protection planning concerns relating to life insurance, disability coverage and health care, investment planning and asset management, tax planning, retirement planning and estate planning. The process of financial…

capital expenditures instead of expenditures, WorldCom was able to write off the line costs over a longer period of time giving the company an instant boost to current profits while showing an increase to assets in the balance sheet. In total, the financial statement fraud committed…

by anyone or about anything when it came to the accounting department. She always provided the owners Tom and Mike with a financial statement every month. But one day one of our freight company accounts called and questioned the amount they received, which did not match with their financial records they had received from our sales person or their own records. This was a financial disaster. They uncovered that she was overpaying herself and the CEO, and also paying a makeshift company. I…

Most corporations use balanced scorecard (Kaplan & Norton, 1996; Niven, 2008), key performance indicators (Waal, 2007), and customer satisfaction (E. U. Bond, III & Fink, 2001; Feciková, 2004; Knouse, Carson, Carson, & Heady, 2009), apart from financial performance, as measures. In practice, these measures and the related processes that yield these measures are usually reviewed by the internal auditors as part of performance audit (Al Athmay, 2008; A. Chambers, 2006; Raaum & Morgan, 2001). Since…

Finance Forecasting Introduction Financial forecasting involves an understanding of all the financial statements since one statement is not apt for analyzing the financial health of a company. Financial forecasting is important in enabling the business owners and management make smart managerial, investment, and financial decisions. It is also important in ascertaining whether the company is making profits or losses as well as determine whether the company is growing and as such would continue…

Financial Statements reflect the effects of business transactions and events. The different types of financial statements are not isolated from one another but are very closely related in many aspects. In the following diagram I prepared, it shows how they are very closely related to one another. First off what are financial statements? Financial statements are formal reports of the financial positions that businesses are in. It mostly runs red or black. Most managers and business owners…

Evaluating the Financial Performance of Seven Second Generation Banks of Bangladesh: A Comparative Analysis Md Mahbubur Rahman Research Associate Argus Credit Rating Services Limited Dhaka, Bangladesh Email: m.rahman1091@gmail.com Abstract Commercial banks are the active components in the development of an economy. The objective of this study is intended to evaluate comparative financial analysis during the period of 2011- 2014 of seven second generation commercial banks operating business in…

1. Provide a brief description of the audit process required to satisfy the auditing of IT controls over financial reporting. The objective of auditor in an audit of IT controls over financial reporting is to express an opinion on the effectiveness of the company’s internal controls over financial reporting. As a company’s internal control cannot be considered effective if there are any material weaknesses, the audit must be planned in a way to obtain appropriate evidence that is sufficient…

helps to observe the amount of revenue that the company is capable of earning using a certain amount of investment. The asset turnover ratio is used to analyse the amount of revenue earned by the company over the invested assets. Looking at the financial statements, it can be seen that the asset turnover ratio of the company has gradually decreased in the last three years from 1.6 to 0.79. Hence, it presents a poor performance of the company. On the other hand, the number of days for inventory…

The source of problem for Bausch and Lomb was the chief executive, Daniel Gill. Gill created great pressure for the employees of B&L to generate revenue. He wanted to increase sales at any cost. In regards to the audit risk model, the inherent risk was very high. The reasoning behind the risk was due to the measures taken by the chief executive to improve sales. The only way to generate sales to please Gill however was by recognizing revenue that was not recognizable. On the other hand,…