The stress of the audit partner is tremendous and choosing that profession is one that I would prefer not to undertake. The anxiety and pressure to certify that a company’s financial records are in good standing can be daunting. 3.) Independent auditors are sometimes perceived as the “necessary evil” by corporate executives because of the possibility of exposing corruption. To change this point of view an auditor can try to explain their intent to educate and improve the company’s policies, which can in turn lower costs.
Any opportunity costs that lower overall utility created show that utility is not being maximized. Accountants in our current society have a lot in common with the utilitarian perspectives view of good accountants. Typically, accountants look to valuate as much as possible and see themselves as gatekeepers of financial information based on objective methods. However, accountants in our society do have an interest in the "means" as well as the "ends." Describe what a "Good Accountant" would look like from a deontological perspective.
Even though this practice reduces the chance of making a bad re-sourcing decision, it wastes lots of time and energy from CMC and engineer team, and may discourage nominated supplier. Are there any improvements that should be made to the current re-sourcing practices within Global Supply Management? * Clear quality standard and parts’ print should be communicated with potential suppliers to eliminated misunderstanding. * Once a list of potential suppliers has determined, Casturn should begin to evaluate their technical capabilities and financial capabilities. Casturn could ask suppliers to send Casturn samples.
| 2(3)Some product knowledge will exist from current sales members, but some training will be needed for new sales people. | | Financing/ROI knowledge of sales team(2) | 3(2)Unfamiliar with pricing and financing low-cost products, and would require motivation to get commission off lower-priced sales made. | 1(2)Has the most experience with financing all sorts of price-leveled products. | 2(2)There will be a lack of knowledge from the existing team, but can piggy-back off of the knowledge from the ISR’s.
* Diverse products Diverse products and revenue should help shield the business from shocks in any one part of their business. Different products have different characteristics. Those characteristics do not always match; therefore, a company can lower their risk by investing in a business with low correlations with other products. This lowers risk and increases the value of the business over the long-term. WEAKNESS: * Company size "Company Size" will have a long-term negative impact on this entity, which subtracts from the entity's value.
The CPA or CPA firm would at least have reputational interest in the financial report that it “managed”. This human nature will impair the CPA or CPA firm’s independence, and will decrease the reliability of the audit report. Second, self-interest focuses on the interest of decision makers. The CPA or the individual partner of the CPA firm would probably increase his own compensation by serving as both the entity’s consultant and auditor. On the other side, for the entity, hiring the same firm as both consultant and auditor can save it audit expense, since the CPA or CPA firm has already known a lot about it when performing consulting, thus decreasing its audit hours.
E. Usually when operations get close to capacity limits, costs go up. Bottlenecks are more common, there may be congestion in the plant, and production could slow down. These costs need to be considered when setting a price for a special order that will move an organization out of its normal operating range (relevant range). In addition, managers need to think about whether the business will lose some customers because demand cannot be filled. ------------------------------------------------- 4.42 Make or Buy, Qualitative Factors - The Vernom Corporation A.
After the level goes to certain degree, adding up the same amount of inventory investment would lead to less increase in customer satisfaction. Therefore, in order to balance the cost with the desire to satisfy the customer, it is not enough to only increase inventory investment, the best solution
As discussed in the previous research, comparing with the extrinsic motivators, intrinsic motivators do have a more significant influence on increasing higher level employees’ work passion and company’s productivity. Therefore, avoiding using extrinsic rewards but the intrinsic ones becomes the most useful and primary managements for company to operate properly. In the study of “Effects of Extrinsic Financial Rewards on Intrinsic Motivation” conducted by Robert D. Pritchard, Kathleen M. Campbell, and Donald J. Campbell, it mainly talked about Deci’s hypothesis which explained how and why extrinsic financial rewards are not working well on higher level employees. In the investigation of employees’ motivation, Deci believes that financial rewards (like higher payments) depending on the work performance may have a negative effect on workers’ intrinsic motivation. In order to support his hypothesis, Deci did an experiment aiming to compare and find out the relationship between financial rewards and intrinsic motivation through participants’ task performance (Pritchard, P9).
Communication between the two departments is essential for understanding what is happening in the external operating environment and how it affects the internal issues of budgeting and how financial performance ultimately affects the organization’s mission (Studer, 2010). Clinicians and financial leaders don’t always understand each other due to the fact that they are taught to think in different ways. While those who work in finance may be keeping a close eye on variance in order to make quick changes, clinicians are taught to focus on the quality of patient care and may understand the urgency of responding to patient needs but not necessarily the urgency of the financial situation (Studer, 2010). Brennan et al, (2008) discuss this partnership at Yavapai Regional Medical Center (YRMC) and how it has made them a leader in the industry in terms of fiscal performance and clinical