Financial independence

External Factors and Internal Factors The 2008 great recession had caused several economic downturns to many financial institutions, which forced to go out of business or filed a bankruptcy protection. This financial crisis had caught many economists off-guarded the severity of financial damages that the crisis created. There were numerous factors that caused the financial collapse included the over-heat real estate market, the mortgage-back security products, the loose monetary policy, the…

Because there are a number of ways that a company could manipulate inventory numbers to misstate the final account balance, auditors must be diligent to prevent fraud or human error. A misstatement in inventory can have two effects: increase the value of the account and thus the company; and, increase cost of goods sold and thus increase revenue. One of the most important jobs for an auditor is to inspect the physical inventory itself. This tests two key assertions: existence and accuracy. The…

for relevant information regarding a company’s financial position continues to escalate and business analysis becomes more complex, the requirement for organizations to produce both timely and accurate data is essential (Subramanyam, 2014). More specifically, analysts, investors, and creditors alike rely on figures from statements such as balance sheets, income statements, and statement of cash flows in an attempt to conduct both accounting and financial analysis (Subramanyam, 2014).…

away from Wells Fargo’s services.” (Legal Issues Making It Hard For Wells Fargo To Regain Customer, Investor Confidence, 2017) Negative hits to a company's reputation can significantly reduce the credibility of the organization, and for one in the financial industry, being a credible merchant is imperative when seeking to improve…

INTRODUCTION This report aims to study the communication systems of a not-for-profit organisation in Victoria, named Victorian AIDS Council (VAC). In the first part, some background information, including an organisational chart, different channels of communication with the organisation’s key internal and external stakeholders and funding resources will be examined. In the second part, a SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis will be employed to examine the competitiveness…

Coffee Roasters. Starbucks collects its average accounts receivable more frequently than Green Mountain. Starbucks will collect their average accounts receivable in fewer days. Chapter 9: Financial Statement Case 9-1 on p. 601 1. The Starbucks Corporation is using straight-line depreciation for their financial statements and for their tax purposes I believe they use double declining depreciation. 2. 523.3 million is the amount of depreciation and amortization expense for the year ending October…

Interview an Accountant For this assignment, I was able to get in contact with a high school friend of mine that was an outstanding student athlete. The reason for reaching out to him was to follow up with a person I knew had a bright future and broke the sigma of the athlete stereotype when it comes to academics. Marcus Law works as a Business Account Manager (entertainment industry) for Chapnick Smukler & Chapnick in Encino, CA. He has worked in the position for a bit over 2 years.…

Porter’s Five Forces is a strategic business plan used to assess the competitiveness of business to survive in a tough business market. The components of the Five Forces include the threat of new entrants, the bargaining power of suppliers, the bargaining power of customers, competitive rivalry, and availability of substitutes. The components of the Five Forces can be applicable to any business, but this paper will examine how the Five Forces apply to Wells Fargo. According to the Federal…

Office Depot compete against one another by selling similar products such as office and school supplies. The difference between these two companies may not be very noticeable when looking at them through a broad lens. However, after comparing the financial statements of these two companies, I found that the profitability, liquidity, and solvency of each is what distinguishes Staples from Office Depot. When comparing the profitability of these two companies at the end of the fiscal year, I…

Title IV focuses on enhancing financial disclosures. Section 401 requires all financial statements prepared in accordance with GAAP to reflect all material adjustments identified by the auditors. The section also required the SEC to establish standards to address off-balance sheet transactions. Result was rules for consolidation of variable interest entities. Section 402 prohibits personal loans to directors and executive officers. Section 404 requires that management acknowledge its…