3. Explain what is meant by “ratio analysis” Ratio analysis in the interpretation of the resulting data given by the accounting ratio(s). Examples are given in next section of this assignment. 4. Discuss the advantages and the limitations of “ratio analysis” There are several advantages and limitations of accounting ratios, I will address some of the key ones in this section Advantages * Accounting ratios can be used by investors to make decisions on whether or not to invest in a company or sell existing shares.
Do We Need to Understand Business Etiquette? Introduction Business Etiquette is concerned with the way one carries out his or her business linking other businesses and their customers while being respectful and considerate to them always. Customers depend upon the business person or dealer for proficiency and information, therefore a dealer needs to be of great assistance by acting in great decency and be reliable. Civility and politeness is important in a business situation whether you are talking on phone or dealing with a client and members of staff on word of mouth.Etiquette includes serving your customers without keeping them waiting. The places of work in America has different kinds of employees or workers who originate from different cultures and that is why it is important that everyone gets to be well acquainted with each culture so as to get rid of misunderstanding by ensuring fruitful communication.
This was a very interesting assessment and it makes you think a little which is always a good thing in my opinion. During the “Connecting to the Real World” and “How willing are you to take risks in the workplace” assessment I realized that I am a bit of a risk taker. I don’t consider it a bad thing at all I feel that some risks should be taken. Being a business man sometimes you have to take risks some pay off and other don’t it’s just a part of being an entrepreneur. I kind of knew I was a high risk taker but this assessment just clarified everything for me.
Morality should be a part of ethics also. According to a survey done by George S May in 2010, business owners are more concerned about ethical business practices today than in the past. (York Sunday News) Even though businesses do have good ethical business practices, they can run into some problems. Big Bert’s Adventure (BBA) is a Not-for-profit business and Walt Disney Company is a For-profit business. BBA as most Not-for-profit business has trouble raising enough money to carry out their plans, getting volunteers, and choosing who will be the benefactors of their kindness.
The social responsibility of business is to increase its profits while maintaining integrity and loyalty to its consumers. Since responsibility is a human characteristic then it is the duty of the managers to ensure they meet the desired outcome of the owners/executives. In most instances the desired outcome is to make as much financial profit while adhering to all business laws and ethical practices. Business ethics relates to the good or bad things that occur in business practices. Many times the bad situations that may arise do not happen on purpose and the effects that they have on the consumer may be short lived.
It appears that Homebake has produced a quality product that is meeting consumer demands; however some of the products are flawed. The flaw can be fixed quickly and relatively inexpensively. Homebake has done everything it can to ensure customer satisfaction among the consumers who purchased a faulty product. The company is in a growth phase and needs support from its banker. As a preparer of financial statements, management will want to produce an income statement that shows a profit (profit maximization motive).
Assignment #1 – “Electronic Surveillance of Employees” LEG/500 NAME October 23, 2011 Professor Abstract Privacy in the workplace is difficult to attain with the technological advances that we continue to build and improve on. Monitoring of all levels is almost guaranteed with organizations trying to protect in what they believe are their best interests. Open areas are often easy to intrude and collect private information and monitor employee’s work ethics and habits. Enclosed offices offer a higher layer of protection from collection methods but are normally as susceptible in terms of electronic surveillance measures. In regards to either form of workspace it is the responsibility of the employee to ensure they are following the guidelines and requirements of what the organization they belong to has established.
These companies make a point of following the law to ensure that others cannot take legal action against them. For example, a company may create more waste than necessary, but it will remove of the waste in a legal method rather than dumping it illegally. Accommodating An accommodating stance signifies that a company believes social responsibility is important -- and perhaps as important as making a profit. These companies satisfy all legal requirements and attempt to meet ethical standards. An accommodating company does not
Hiring contract and temporary employees may be very beneficial for business. Companies benefit by not having to be responsible for recruiting and testing employees but at the same time have staffing for their peak needs and flexibility to let temporary workers go when they are no longer needed. Whether contract and temporary employers are good for business depends largely on the type of the business. For example, a productions factory will certainly benefit by hiring temporary workers. The use of temporary workers helps the business to maintain staffing flexibility and reduces hiring costs.
The principles of written business communication: CLEAR PURPOSE The well-known saying, “Time is money,” is well-known because it’s true. Nobody – especially a business person – wants his time wasted, so be sure your purpose is clear and that what you write is worth taking the time to read. CLARITY AND CONCISENESS There is a time and a place for creative figures of speech and poetic turns of phrase, but rarely is a business letter that time or place. The priority in business writing is the effective communication of specific information. Avoid wasting words and be precise with the ones you choose.