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Balance of Payments, 2004.
An analysis of a country's balance of payments, with a focus on the United States.
2,019 words (approx. 8.1 pages), 11 sources, MLA, $ 63.95
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Abstract
This paper presents a brief explanation of what a country's balance of payments is and the main elements of the balance of payments. The paper discusses the links between a country's balance of payments and its rate of economic growth, as well as the links between a country's balance of payments and the exchange rate of its currency. The paper analyzes the main reasons for the United States' balance of payments deficits over the past five years and examines the effects of these deficits upon the economy.
From the Paper
"Currently, the U.S. in 2004 maintains a deficit in merchandise trade and the absence of strong net investment income inflows, a current account deficit. This has occurred for some time, but before these deficits were of not much concern, as they were theoretically and comfortably offset by the current account surpluses, such as the purchase of U.S. assets by foreign individuals and institutions. The result was such that net flow of receipts and payments was in balance, allowing for statistical discrepancy, without the need to any type of official transfers. (Ruby, 1999) But concern in light of the continuation of this state of affairs, combined with a weakened U.S. dollar has grown and the widening deficit reveals US continued and more sustained reliance on foreign cash than previously thought. (J Hughes, Financial Times, 15 September 2004) "
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Perry Ellis International, Inc..
This paper is a financial analysis of the Perry Ellis International, Inc., an apparel company in the United States.
2,300 words (approx. 9.2 pages), 3 sources, APA, $ 70.95
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Abstract
This paper explains that the portfolio of Perry Ellis International, Inc. includes men's and women's brands, which it designs, sources, markets, and licenses nationally and internationally at multiple price points and across all major levels of retail distribution. The author points out that during the fiscal year ended January 31, 2004, approximately 91% of the company's net sales were from branded products The company owns 13 and licenses five brands, such as Perry Ellis, Jantzen, Munsingwear, and Manhattan; has developed over 42 sub-brands, such as Perry Ellis Portfolio and Penguin Sport; and distributes the PING, Nike, Tommy Hilfiger, NAUTICA ,and Ocean Pacific brands under license arrangements. The paper reports that, for 2005, Perry Ellis expects to report record revenue and net income; earnings per fully diluted share are projected in the $2.10-$2.20 per fully diluted share range, below their previous guidance of $2.35. Tables and graph.
Table of Contents
Executive Summary
Background
Current Status of Perry Ellis (2004)
Perry Ellis 1999-2004
Total Revenues
Royalty Income
Cost of Sales
Gross Profit
Selling, General and Administrative Expenses
Depreciation and Amortization
Interest Expense
Long-Term Debt
Future Positioning
Perry Ellis Income Statement
From the Paper
"Perry Ellis' President acknowledged disappointment in the swimwear business for 2004, but plans to take actions such as a rationalization of product offering, changes in sourcing and overhead expense structure and a significant reduction in inventory levels. Perry Ellis intends that those measures will position the company for a profitable swimwear line in fiscal 2006. Perry Ellis predicts that the menswear brands, especially Perry Ellis, Original Penguin, Cubavera, PING, and PGA Tour will achieve record sales with a continuing momentum to continue into next year."
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Finance Modules, 2004.
An analysis of various financial concepts.
2,789 words (approx. 11.2 pages), 11 sources, MLA, $ 83.95
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Abstract
This paper explores many concepts found in finance, such as present value and capital asset pricing model (CAPM). The paper examines three business models in order to better understand present value and discount rates. The paper also looks at the security of equity future and, more specifically, Wal-Mart's performance. The relationship between CAPM versus APT (Arbitrage Pricing Theory) is described, and the method used when determining a rate of return and capital budgeting purposes is explained.
From the Paper
"One type of security is called an equity future. This is a contract guaranteeing your shares of a company to be delivered to you not today, but sometime in the future. What you would pay for such a contract? It depends on what price you expect the shares to be at in the future, and how volatile the stock is at the time of purchase or in other words what discount rate you should value this future payment of stocks). By looking at Yahoo Finance.com and at the five-year chart for Johnson and Johnson, the reference company I chose, one can learn a lot about the company. In comparison with Johnson and Johnson, what would you pay for 100 shares of Wal-Mart to be delivered to you in one year? Is it like comparing apples to orange or do the two companies have more in common than thought?"
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Accounting, 2004.
An analysis of cash and accrual accounting methods.
1,147 words (approx. 4.6 pages), 4 sources, MLA, $ 39.95
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Abstract
This paper discusses the two large categories of accounting methods that companies tend to use, cash and accrual. The paper presents a definition of both concepts, as well as a comparison between the two methods. The paper offers general recommendations about when it is advisable to use one or the other. The paper contends that, nowadays, most companies use the accrual method.
From the Paper
"The accrual methodology, on the other hand, "records income when the sale occurs, whether it be the delivery of a product or the rendering of a service on your part, regardless of when you get paid" . The expenses are similarly recorded when the liability is contracted. For example, in December, we buy equipment worth $20,000, payable over a period of six months. With the accrual accounting method, the respective expense is recorded in the month it was produced and not in every six months to follow during which the payments are made. One of the problems that may arrive when using the accrual method refers to the fact that sometimes the exact moment when the transaction or the liability was contracted is not known."
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Certified Public Accountants, 2004.
An overview of the job description of a Certified Public Accountant (CPA).
1,397 words (approx. 5.6 pages), 4 sources, MLA, $ 46.95
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Abstract
This paper discusses the job done by a CPA , Certified Public Accountant. The paper presents the educational requirements necessary for pursuing a career as a CPA and outlines the average salaries earned by accountants. The paper provides an outlook for the future of the accountant's job description with regard to technological advancements.
From the Paper
"Certified Public Accountants (CPAs) are found in many walks of life. They are the well-paid and often highly publicized (albeit sometimes for the wrong reasons) Chief Financial Officers (CFOs) of major corporations and advisors to smaller neighborhood businesses (CPA.net., 2004). They work for both large and small public accounting firms, and are typically well-respected strategic business advisors and decision-makers. CPAs also act as business consultants on many issues, including taxes and accounting. Public accountants perform a variety of accounting, auditing, tax, and consulting activities for their clients, who include corporations, governments, nonprofit organizations, or individuals (U.S. Department of Labor Bureau of Labor Statistics, 2004). For instance, some CPAs concentrate on tax matters, such as helping companies understand the tax advantages and disadvantages of their business decisions and preparing individual income tax returns. Others serve as consultants in areas such as compensation or employee healthcare benefits, the development of accounting and data processing systems, and the selection of controls to protect assets. Others may audit clients' financial statements and report to investors and authorities that the statements have been properly prepared and reported. CPAs' usually either have their own businesses or work for public accounting firms."
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Frequent Flier Mileage Programs, 2005.
A look at the accounting issue regarding frequent flier mileage experienced at United Airlines.
1,573 words (approx. 6.3 pages), 7 sources, APA, $ 51.95
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Abstract
This essay involves collecting and summarizing research in regard to a specific company or industry that has experienced an accounting issue. The focus of the essay is United Airlines, but it could have been applied to any other major airline. The main research comes from the December 1991 story by Charles W. Taylor entitled, "Airline Accounting: AICPA versus FASB," which was in the December "CPA Journal Online". The paper incorporates an analysis of the company, industry, and the account issue with the author's personal opinion of the subject matter. A large portion of the paper focuses on the impact on investors and other stakeholders and also presents insights into the opinions of the article's author.
From the Paper
"One solution that has made investors and stakeholders very happy was for the airlines to offer frequent flier miles and other reduced fairs. United's frequent-flier program, Mileage Plus, grew significantly, due to the continued success of partnerships such as First USA Mileage Plus Visa and Master Card, MCI WorldCom and E*TRADE. Revenue from third-party mileage sales reached $107 million during the first quarter, representing an 18 percent increase over the same period last year. Recently, United and Safeway launched Grocery Miles -- the largest partnership between a national grocer and an airline -- which allows customers at nearly 1,300 U.S. stores to earn frequent-flier miles in United's Mileage Plus program for their grocery purchases. (PR News Wire, 2000) As bankruptcy looms, frequent flier miles have become a major topic of discussion. But these frequent flier miles were an accounting problem as far back as 1990 and 1991."
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Financial Planning for Retirement, 2004.
An analysis of the necessary financial planning for retirement.
2,219 words (approx. 8.9 pages), 8 sources, MLA, $ 68.95
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Abstract
This paper describes retirement planning as an ongoing process that a person needs to keep up with if goals are to be met. The paper contends that for those at or near retirement age, the planning process goes from accumulation of wealth to making the right decisions about assets. While one will still continue to accumulate money from investments, one will also be looking at using that money for day-to-day living expenses. The paper explains that the right choices are imperative in order to have the retirement lifestyle one desires.
Table of Contents
Early Financial Planning for Retirement
Financial Planning for Retirement: The 30s
Financial Planning for Retirement in Middle Life
Financial Planning for Retirement in the Later Years
Financial Resources for Retirement Planning
Social Security
Pension and Profit-Sharing Plans
Other Retirement Accounts
Other Resources
Retirement Strategies
Summary
References
From the Paper
"Credit card debt should also be evaluated when one is in their 20's. Many credit cards have interest rates of 20% or higher. Over time, a concerted effort should be made to lower balances on these cards. Continuing to maintain high balances and high interest rates delays
putting money aside for retirement. Financial goals should be shared with one's partner. It is of critical importance that each person is involved in the planning and agree on what type of lifestyle he or she wishes. Once the goals are mutually agreed on, both parties should be involved in carrying out the financial strategies necessary to achieve those goals. Each person should know and understand which investments to have and why. This is a critical period to educate oneself about how to handle finances."
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Financial Statements, 2005.
A brief examination of the four main components of a financial statement.
1,254 words (approx. 5.0 pages), 3 sources, MLA, $ 42.95
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Abstract
This paper explains that the four basic financial statements are the balance sheet, the income statement, the cash flow statement, and the statement of stockholders' equity. This paper refers to each, in part, and then emphasizes the interrelations between them.
From the Paper
"Resuming what I have argued for previously, there are two major arguments that demonstrate the interrelationship between the four basic financial statements. First of all, many of the values that are reflected in one statement generally find themselves in another. Even more so, there is a flow of information from one financial statement to another. As we have seen in the examples above, data from the cash flow statement is recorded on the statement of stockholders' equity or on the balance sheet."
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Financial Reports, 2005.
An overview of the purpose and use of different types of financial statements.
1,787 words (approx. 7.1 pages), 2 sources, MLA, $ 57.95
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Abstract
This paper examines how all the information accountants gather about a company is used to prepare documents referred to as financial statements and how, although there is no consensus regarding which documents are financial statements and which aren't, there are several universally accepted papers of which the income statement and the balance sheet are excellent examples. It explores different examples and uses of these financial statement, such as the cash-flow statement and the statement of capital.
From the Paper
"The financial operations of a company have to be kept under strict observation. Investors need to know exactly what is the position of the company, so an objective opinion is required. This is where the auditors come in. Auditing may be defined as "a systematic process of objectively obtaining and evaluating evidence regarding assertions about economic actions and events of an economic entity to ascertain the degree of correspondence between assertions and established criteria and communicating the results to users". Of course that auditing is an expensive operation, but the safety it brings makes it worth the effort. Auditing is mandatory for certain companies, especially when the interests of a large number of people are at stake."
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Technical Analysis in Finance, 2005.
An overview of the concept of market analysis, using technical analysis techniques.
1,683 words (approx. 6.7 pages), 12 sources, APA, $ 54.95
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Abstract
This paper looks at technical analysis, a method to forecast price movements and market trends, by analyzing charts of the past market action, which consider the account price of instruments, volume of trading and, should it be applicable, the open interest in the instruments.
Outline
Technical Analysis
Qualitative Analysis
Fundamental Analysis
Technical Analysis Versus Fundamental Analysis
From the Paper
"Hence technical analysis concentrates on the study of the market prices themselves rather than an evaluation of those factors directly. This method requires a detailed study of, besides other things the actual daily, weekly and monthly price changes and is expected to give the most effective means to capitalize on the future direction of price movements. These strategies most often use a set of mathematical measurements and calculations to keep track of the market activity. Buy and sell decisions are then made on the basis of the output generated by the charts, manual calculations, computers or all of them put together."
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WorldCom, 2005.
A look at the unethical business conduct of communications company, WorldCom.
1,814 words (approx. 7.3 pages), 10 sources, MLA, $ 58.95
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Abstract
This paper describes the unethical management and business conduct of WorldCom and its CEO, Bernard J. (Bernie) Ebbers. The paper details Ebbers's ethical failures in his attempt to make WorldCom the number-one stock on the market and describes the consequences of his mismanagement.
From the Paper
"While much of the business world was gnashing its teeth over the dot-com bust, telephony was having a bad day, or at least, that portion of it that had been subsumed into giant WorldCom was. In 2001, ?The number of competitive local telephone companies in operation dropped to 150 from 330 the previous year, and long distance carriers lost pricing power and market share to the regional Bell and other local telephone companies. Many companies had entered the market for Internet services in the late 1990s, and the resulting expansion in network capacity led to a glut in the market? (Zekany et al, 2004, p. 101+). That situation might lead some CEOs to err on the side of caution, but the CEO of WorldCom, Bernard J. (Bernie) Ebbers, was riding a huge wave of publicity, generated by his own grandiose scheme for WorldCom to become Wall Street?s all-time Number One stock."
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Budgeting Basics, 2005.
Analysis of the Atlantico Company's budgeting policies and recommendations for improvement.
863 words (approx. 3.5 pages), 1 source, MLA, $ 30.95
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Abstract
This paper begins with a brief explanation of the theoretic basics of budgeting and then proceeds with an analysis of the budgeting policies of the Atlantico Company. The paper concludes with recommended alterations for Atlantico's financial policy. Included at the beginning of this paper are different tables on Atlantico budgets, an income statement, and a balance sheet.
From the Paper
"Another advantage budgeting is that is confers managers increased control on the business, based on variance analysis. Noticing unfavorable variances may trigger certain responses, which have the capacity to solve the already existing problems and to prevent future ones from appearing. For instance, if costs are too high, waste may be cut out or an expensive supplier might be changed. Should the sales be too low, a supplementary effort in advertising, promotion or sales could prove useful. If there is a problem with low production, the manager could look for bottlenecks in order to remove them or he/ she could try to raise labor efficiency."
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General Electric, 2004.
A discussion about the equity, cash flow, and notes analysis for the General Electric Company.
880 words (approx. 3.5 pages), 4 sources, MLA, $ 31.95
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Abstract
This paper analyzes the specific components of the statement of changes in owner?s equity and statements of cash flows from line items to balances in General Electric. The paper discusses the changes in those balances from the prior year, presents possible specific explanations for any changes from the previous year, and suggests how management can use that information in helping the business to achieve its goals.
From the Paper
"General Electric still stands tall in the public?s estimation and in its international reputation as a pioneer of Six Sigma management policies regarding internal quality control. (Six Sigma, 2004) According to its annual report, GE Share owners? equity increased $8.9 billion, $4.3 billion and $7.9 billion in 2002, 2001 and 2000. Thus, the performance of the General Electric company in sheer dollar terms continues to improve, not simply as a statistical blip between the current financial year and the financial year of the past, but steadily, and over time. The increases were largely attributable to net earnings of $14.1 billion, $13.7 billion and $12.7 billion. These increases were only partially offset by dividends declared of $7.3 billion, $6.6 billion and $5.6 billion in 2002, 2001 and 2000, respectively."
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International Accounting, 2005.
An evaluation of research theories and methodologies in accounting.
2,387 words (approx. 9.5 pages), 5 sources, MLA, $ 73.95
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Abstract
This paper describes and evaluates research theories and methodologies in order to classify accounting systems internationally. The paper explains the purpose of classification and the two methods used for classifying international accounting systems, looks at some of the problems of these methods of classification, and touches briefly upon the impact that culture and society values have on accounting.
From the Paper
"Classification of international accounting systems has many purposes, as it aims to help financial users to better understand each system and to contribute to the harmonization of these heterogeneous systems. Classifications intend to sharpen the description, analysis and prediction of accounting systems (which refers to the extent to which national systems are similar or not, the pattern of development of systems, which may have important potential for change, and the reasons why some systems dominate others), to help describe and compare different national systems in order to better understand them, to make assessments of harmonization prospects, to guide national policy makers in taking the right steps in order to achieve full economic development, to help developing countries choose appropriate systems, which would not impede but facilitate their development, and to help MNEs overcome problems of establishing control systems."
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Consolidation of Financial Statement Analysis, 2005.
A look at whether the present effort to improve the securities laws in the U.S. as well as the financial reporting and disclosure laws is achieving its objectives.
3,734 words (approx. 14.9 pages), 11 sources, APA, $ 103.95
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Abstract
This paper examines the current effort at reform of securities laws in an attempt to determine whether those reforms will be effective in avoiding another Enron-type crisis. The paper reviews literature relevant to this topic and makes an assessment as to the viability of the reforms in view of the scope of the problem. A summary of the research is provided in the conclusion.
Executive Summary and Synopsis
Introduction
Explanation of Clarke and Oliver Observation
Analysis
Financial Statement Composition Today
?Patching Up? Initiatives
Sufficiency of Initiatives to Date
From the Paper
"However, in contrast to the ?on market? exchanges, derivative transactions that are conducted ?off market? (these are, in effect, non-standard direct contracts between bilateral parties), have attracted increasing attention from regulators with good reason: ?Over the past decade or so, the volume of such transactions, across a wide swath of asset classes and instruments, has been extraordinary? (Warner 2001, p. 5). In the market in which Enron competed, schedules of fees for buying and selling securities are not fixed, and dealers derive their profits from the markup of their selling price over the price they paid. The investor may buy directly from a dealer willing to sell stocks or bonds that he owns or with a broker who will search the market for the best price."
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Due Diligence, 2004.
This paper discusses the due diligence process and provides a checklist as used in the case of the ChipeX Company.
1,605 words (approx. 6.4 pages), 5 sources, APA, $ 52.95
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Abstract
This paper explains that venture capitalists make appropriate risk assessments, called due diligence, to find out if they are really and truly buying the company, an interest, or a product as presented in that infamous ?fine print?. The author points out that the checklist delineates a request for various kinds of documents from the company or the producers in question with whom the venture capitalists are dealing. The paper relates that the due diligence checklist includes a list of banks or other lenders with whom the future company might have a financial relationship, including credit agreements, debt instruments, and other agreements evidencing outstanding loans to which the company is a party or was a party within the past two years.
Table of Contents
Introduction
Checklist
Corporate Documents Regarding ChipeX Company and Subsidiaries
Issuances of Securities
Material Contracts and Agreements
Employees and Related Parties
Memo
Conclusion
From the Paper
"This is a financially chancy and dicey time for technological investment. According to some of their independent analysts, the microchip to be developed by the aforementioned former members of ChipeX Company is a sure thing. This alone, however, should raise red flags. Even though the technical viability of the product has been sung in its praises by many technologically forward independent experts, in business, particularly the business of technology, experience and the dot.com bomb has taught us all that there is no sure thing."
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Real Option Valuation, 2004.
This paper discusses the Real Option Valuation technique as compared to other measurements used for long-term investment decisions.
2,985 words (approx. 11.9 pages), 8 sources, MLA, $ 88.95
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Abstract
This paper explains that the Real Option Valuation technique, which involves the prediction of the returns with an assumption that the asset valuation is closely connected to the management of assets, is an alternative over the discounted cash flow technique. The author clarifies that the Real Options Valuation technique emphasizes the value of the flexibility of the management while making decisions during the operation of the project; thus, it integrates the strategic planning options, such as to include, defer, abandon and other choices, which prevents committing error decisions. The paper relates that a weakness of the Real Options Valuation approach is that it neglects the influence of other parties.
From the Paper
"The terminology, Economic Value Added, is also used to mean the economic profit. A positive economic profit indicates greater returns of the company over the cost of capital. In order that the company operates with a real profit it should be ensured that the returns are more than the cost of capital conversely it leads to loss. The long term investments are associated with uncertainty, and therefore necessitate firm decision making techniques analyzing and estimating the probability of outcomes taking and the values of these expected outcomes. Even though the firm managers try to put all their efforts for reducing risk taking assistance of the best possible information available, the uncertainty of weather and markets cannot be avoided. This makes essential the firms to depend upon the various decision making techniques while making strategic long term investments."
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State Taxes, 2004.
An overview of the various types of taxes and their implementation in various states in the U.S.
1,340 words (approx. 5.4 pages), 5 sources, MLA, $ 45.95
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Abstract
This paper discusses how every citizen of every country is liable to pay some amount of money towards its government, which, in turn, utilizes that money in giving public facilities to the citizens. It highlights the different tax philosophies of progressive as well as regressive tax and provides various examples of each type of tax. It also justifies the local property tax and its necessity in towns and cities.
From the Paper
"A tax is a fee charged by a government on a product, income or activity. It is a charge imposed by the government on people, entities, or on property in order to raise revenue. If tax is levied directly on personal or corporate income, then it is a direct tax. If tax is levied on the price of a good or service, then it is called an indirect tax. The purpose of taxation is to finance government expenditure. One of the most important uses of taxes is to finance public goods and services, such as street lighting and street cleaning. Since public goods and services do not allow a non-payer of tax to be excluded, or allow segregation by a consumer, there cannot be a market in the good or service, and so the market needs to be provided by the government or a quasi-government agency with funds, which tend to finance themselves largely through taxes."
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Deceptive Accounting Practices, 2004.
An insight into the various deceptive accounting practices used in recent scandals.
1,758 words (approx. 7.0 pages), 5 sources, MLA, $ 56.95
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Abstract
This report endeavors to present some insight into the various deceptive accounting practices that were utilized prior to the recent scandals. The focus of the paper homes in on two very recent account situations that made media headlines, namely the recent Enron debacle and the latest bankruptcy by United Airlines. It looks a how the results of both of these situations will continue to influence the way all companies in the United States, and even some international organizations, will view and present their finances to the public and other governing bodies, such as the Securities and Exchange Commission.
Outline
Abstract
Introduction
Arthur Anderson
Enron
United Airlines
Bankruptcy
Conclusion
From the Paper
"An example of the sinister ploy Enron executives used to bilk the nation can be demonstrated by the CalPERS natural gas project of 1997. CalPERS was a company that no longer wanted to work with Enron and so they backed out of a big deal with Enron. Enron executives could not afford to lose the derivative effect CalPERS provided so Enron executives created their own entities to replace CalPERS. Enron literally made up companies that were in effect used as derivatives to reduce losses. ?Known as Chewco, it was a partnership controlled by Enron employees, including Kopper. According to the Powers report, Chewco and similar partnerships were engaged in shuffling assets to cover losses and create illusory profits."
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