Their interest is to see the profit they make increasing and the value that the business has rising. Like other stakeholders they want to business to have a good reputation and to grow. Pressure groups the business on making decisions which help defend the environment e.g. Green peace and friends of the world. Environment concerns are important for pressure groups so they try brought onto the business and also protest against the businesses.
Financial Statements ACC/280 Financial Statements Paper Accounting is an important part to any organization. It communicates the financial state of any organization. Accounting has three basic activities: identify, record, and communicate. There are four basic financial statements which are useful to managers, investors, creditors, and employees. These four basic financial statements are interrelated and consist of: income statement, retained earnings statement, balance sheet, and statement of cash flows.
1. Identify your investment goals. 2. Estimate the amount of money needed to achieve your goals. 3.
Scholars such as Friedman suggest that treating the economic responsibility as the most important responsibility of a business, is called a profit-maximising view, and “the social responsibility of a business is to increase its profits.” This kind of view states that a company should be operated on a profit-orientated basis, with its sole mission being to increase profits. This approach would seem to benefit stockholders, as well as stakeholders, as the stockholder is going to benefit from the profit made by the company and will gain something back from the company, however problems can occur when the businesses and companies do not balance their ethical responsibility, as they can therefore be perceived as greed and unable to balance their corporate social responsibility, and will cause a bad name for a business. So although the stockholder may also be gaining profit by doing this (what the company sees as doing the right thing) is not necessarily the right thing to do in terms of stakeholders. However, Friedman would argue that as long as the business is maximising its profit, that is the main point and so the loss of the stakeholders is less important. This argument can be deemed as weak as Friedman’s approach does not mean that stakeholders can be benefited alongside stockholders, and so disagrees with
Which of the following best describes what is meant by U.S. generally accepted auditing standards? (1) Acts to be performed by the auditor. (2) Measures of the quality of the auditor’s performance. (3) Procedures to be used to gather evidence to support financial statements. (4) Audit objectives generally determined on audit engagements.
Given the economic pressures that businesses face today, it is imperative that those needs be connected to specific organizational performance issues. There are three different forms of analysis you will need to complete. 1. Organizational analysis involves determining the appropriateness of training given the organization’s business strategy, its resources available for training, and support by managers and peers for training activities. 2.
(2-4 sentences. 1.0 points) Describe two of your long-term financial goals, and explain why these goals are important to you. List at least three steps that might help you accomplish this goal. (4-6 sentences. 2.0 points) Describe an example of a common financial resource, an expense, and a debt.
There are three main categories for the Statement of Cash Flows. The first is the “Cash flows from operating activities”. This category includes the cash activities for the daily transactions of the company. This includes the revenues the company makes from its business and the expenses related to making this revenue (payments to creditors, utilities, salaries, etc.). Investing activities have to do with the company buying a major asset, such as land, large equipment, buildings, etc.
The organizational structure used in Huffman trucking company is a functional structure because the company has certain tasks for certain departments. Huffman Trucking is also a producer of services and has stations nationwide with locations in Cleveland, Las Angeles, Bayonne, and St. Louis so the functional structure works more in their favor. Within the business, people are being organized or assigned duties and are to be reporting to a supervisor. With the organized departments of the business, more specialized people can be utilized in their areas of expertise. For instance in the business, there is an accountant and finance department, within that department people are organized into categories such as: accounts receivables, payables, costs, financial analyst, and an accountant analysis.
Managing Change Part II MGT/426 Managing Change At times organizations tend to take on their own culture and in doing so, they face different challenges and changes. For Citigroup to compete, stay financially fit, and adapt, the organizations has to change. Citigroup’s employees must understand how change can be beneficial to the organizational and to them as well. By implementing change will allow the organization grow, meet customers’ needs, challenge the employees to improve his or her skills. Change is imperative for Citigroup to remain relevant.