Some of the very important factors are: Government stability effects businesses in a great range by competing with businesses to lower their costs, transparency is another important factor where anything the business does is revealed to the government and the government know exactly what they are up to. Economic policy of government on businesses is also a very essential factor that effects businesses for example, government sets up rules and frameworks according to which the businesses compete with one and another, so from time to time government changes these rules which forces the businesses to change the way of their set ups. There are also beneficial political factors that help businesses in various ways, these factors can be defined as apprenticeships and funding of schools and colleges which will enhance the skills of the population that will affect McDonalds in having more skilled workers to work for them which will
Although confusing, portions of the code have been around for longer than the code itself and is known as the foundation of ethical reasoning. Accountants everywhere are required to follow this code in order to even be a member in the AICPA and should follow it even if they are not. Building the trust of the public is not an easy task in light of all the scandals that have been uncovered even under close scrutinization from the AICPA. This code provides rules and explains the meaning behind what “ethics” really means and is therefore referred to as “the foundation” of ethical reasoning. The most important purposes behind the Code of Professional Conduct are to protect the investor, the employee, and the creditor.
Organizational change processes are theories that can be applied in the business world. Carefully planned businesses changes are helpful because the theories have been carefully prepared and researched. Business owners should consider business trends to stay competitive in today’s economy. The staff mayt need to learn new skills or modify job duties. Because management and boards oversee businesses, they should carefully examine the impact of any change on the business.
Substantive Procedures for Cash Outflow Irregularities ACC/566 Forensic Accounting September 13, 2014 Businesses have goals that include making a profit. In order to have a profitable business, it must be one that offers goods and services that are appealing to the people. When this occurs, there is a demand for the products and services and in some cases a need. Because the financial industry has its ups and downs, businesses must comply with certain rules and regulations in order to stay in business. Not only should they adhere to these guidelines and laws set forth, but they must internally protect their assets or prized possessions in order to continue the inflow of prosperity.
Full Disclosure ACC/421 August 3, 2015 Full Disclosure The full disclosure principle was created to protect users of financial statements by requiring publicly held organizations to disclose pertinent information regarding transactions and details surrounding business operations. Full disclosure is increasing because of the need for more information in a timely manner. The necessity for full disclosure in financial statements brings consequences punishable by laws and fines and pushes organizations to act in honest and ethical manners when compiling their financial statements to the public. The Full Disclosure Principle in Accounting The full disclosure principle in accounting was created to protect investors who may be misled by businesses withholding crucial financial information. Without the full disclosure principle important negative financial information on company standings would likely be withheld from investors.
Pro forma financial information is generally used to illustrate the effects of transactions such as business combination, and change in capitalization. There are countless reasons on why companies use pro forma statement in their business, the most significant is the planning and control received when using pro forma. The process of using pro forma statements are less time consuming, they help businesses evaluate and make a better distinction between business plans (Scarborough, Wilson, & Zimmerer, 2009, p. 196). Pro forma statements are an excellent outlet for resources that will help a business forecast expected earnings should the company chose to merge with another company or even if the company wanted to sell off part of it operations (Scarborough, Wilson, & Zimmerer, 2009, p. 196). The pro forma statements are commonly used when applying for a business loan.
This is the most important quality of someone that works in accounting because you are responsible for recording all the financial information for the company and any wrong information could discredit your business and may also put you into a lot of trouble. Having great mathematical skills would also be another quality because you have to know your percentages and how to come with the figures for the budget as well. Also, having some knowledge of what investments would be good for the business as well. The type of education that I would require for my accounting staff would be that they are certified to be an accounting; I would also prefer that they have the work experience in the accounting as well. Having the experience in management would be a must as too, you would need to know how to handle yourself in certain situations when it comes to dealing with problems may occur or with dealing co-workers that work in your
Role of Technology Paper Anthony Bando University of Phoenix BIS/318 Damien Edwards October 24, 2011 In today's business society, technology including hardware and software, is a critical role of all major businesses and corporations. Technology is essential in this current place in time to compete in the retail business. Technology can make the lives of a company easier as well as consumers who are willing to use it and save time and sometimes money. Technology can be in many different forms within an organization. Certain technologies enable customers and employees to communicate needs faster.
Career Exploration Analysis DeAnn Scroggins COM/530 May 25, 2015 Dr. Charles Sherman Career Exploration Analysis Education is an important step in building a career path. Education provides essential knowledge which can help in sharpening desirable skills for specific careers. Communication varies depending on career, and organizational culture. Communications for accountants (530) prepares accountants for various and diverse styles of communication necessary to succeed in the finance based business world. Planning a career path can seem ominous, but with the help of Career Exploration it manages the unmanageable, delivering reliable and realistic options.
Interpersonal Communication BUS 600 Communication with Technology Tools Prof. Bob Miller August 6, 2012 The importance of communication: clear communication is imperative to the success of a company. Knowing the different levels of communication and how to use them accordingly can help a company to accurately use its time and resources properly. Miscommunication may cause one to have to do the same job twice; it may also cause a company its reputation of good customer service, this may also cause a high employee turn-over. Some may not understand how orders or request are made as long as the job is done. Interpersonal communications are very important.