| | | Establishes a market value for the firm. | | | Makes it easier for owner-managers to engage in profitable self-dealings. | 8 points Question 2 Financial Accounting Standards Board (FASB) Statement #13 requires that for an unqualified audit report, financial (or capital) leases must be included in the balance sheet by reporting the Answer | | residual value as a fixed asset. | | | residual value as a liability. | | | present value of future lease payments as an asset and also showing this same amount as an offsetting liability.
Employees often see change as threatening. What are some of the sources of resistance to change, and what can you as a manager do to overcome that resistance? I think that most people resist change at some point in time and that it may take other people longer to adapt to changes than others, and some may not adapt at all. I think most people prefer stability and tend to avoid situations that increase stress levels or put themselves at risk. People resist change for several reasons.
True (f) The objective of financial reporting is the foundation from which the other aspects of the framework logically result. True E2-4 Instructions Identify the appropriate qualitative characteristic(s) to be used given the information provided below. (a) Qualitative characteristic being employed when companies in the same industry are using the same accounting principles. Comparability (b) Quality of information that confirms users’ earlier expectations. Confirmatory value (c) Imperative for providing comparisons of a company from period to period.
In the scenario, Emergency department staff members were likely shaken by this poor outcome of Mr. B., and would be motivated to change to a safer model just to avoid a repeat in the future. Staff members may be reluctant to change because of established habits in patient flow. This reluctance to change would be an identifiable restraining force, which opposes process improvement. Implementing a model which allows for rapid, safe adjustment to increasing acuity would help avoid poor outcomes in the future. Follow-up is
o A tendency to avoid reversing changes even if it was not the best choice o In reality, past expenditures are sunk costs and the organization should use a clean slate to look at new choices, but to the manager, this will come at great personal loss. • This relates to strategy because it is important to understand the effect management has on it. o If a manager will suffer personal embarrassment or a loss by adopting a new (although better) strategy, they are more likely to simply stick with the current course of action. o This can be avoided by assessing and addressing the problems of an organization prior to major investments being made o Implication on strategic choice, as they can act for the betterment or detriment of the organization. o Differences in manager’s preferences are specific to their individual personalities, experiences and situations.
Auditing and Other Assurance Services Auditing is a systematic process of objectively obtaining and evaluating evidence regarding assertions about economic actions and events to ascertain the degree of correspondence between those assertions and established criteria and communicating the results to interested users. Our firm provides three types of audit: 1) Operational – stands for efficiency and effectiveness in payroll department; 2) Compliance –
Case 2-2. a. i. The Conceptual Framework Project is an attempt by the FASB to develop concepts useful in guiding the board in establishing standards and in providing a frame of reference for resolving accounting issues. Over the years this project first attempted to develop principles or broad qualitative standards to permit the making of systematic rational choices among alternative methods of financial reporting. Subsequently the project focused on how well these overall objectives could be achieved. The FASB has stated that it intends the Conceptual Framework Project to be viewed not as a package of solutions to problems but rather as a common basis for identifying and discussing issues, for asking relevant questions, and for suggesting avenues for research.
The longer you take to interview someone the more fuzzy there memories’ become. Also to keep in mind your witness may not be available during your working hours or your office may be too far away from the witness’s home or place of work. It is important to work around your witnesses’ life in order you not to put extra stress on them; which in turn can make them feel comfortable with you and want to work with you. When you find a time that is good for you and the witness then you should find a place to conduct the interview. The place you choose should be convenient for the witness but should not be held in a place that has a lot of distraction or people.
For instance, certain alternatives should be indicated as a fall back plan in case the team runs out of resources away from home. In addition to this, there is a common cliché stating that too much of anything is poisonous. This could be well applied in this case to indicate the fact that the team members should not be overworked since they will also need that energy during the actual
Unit 3 Individual Project 2 Presented in Partial Fulfillment Of the Requirements for the Class MGT652-1201B-01: Human Resource Strategy By Joseph VanTrease American Intercontinental University Online 26 February 2012 1. Based on these descriptions of the experiences of People’s Bank, Ingersoll-Rand, and Maid Bess, what is the unifying theme of the role played by human resource management? The unifying theme of the role played by human resource management is that each organization linked strategic planning and human resource management together. By doing so, each organization was able to lower cost, brings in more talent to meet the needs of the demand, and allowed front-line employees to participate in making decisions (Greer, 2001, 1995). Bonus structures brought about increased productivity as well as reduced turnover.