Despite CanGo’s initial success, however, the organization is not without its fair share of concerns. The primary issue with CanGo is that it lacks a formal strategic business plan. The company has also failed to clearly define what its short-term goals and long-term goals are and how it plans to go about realizing those goals. The company also has problems with its current organizational structure. Although roles are clearly defined, CanGo often succumbs to a centralized form of decision-making, with Elizabeth Bennett micromanaging to such a degree that the decision-making process almost becomes paralyzed.
On the allocation of goodwill, Financial Accounting Standards Board does this based on the reporting unit level while Independent Accounting standard body uses cash generating unit (Williams, 2003). Independent Accounting Standards Body addresses recovery of impairment losses but according to Financial Accounting Standards Board, impairment loss of goodwill in a previous period cannot be reversed. The two bodies test for goodwill impairment annually. Convergence of the two bodies will lead to creation of new improved standards for the two bodies. Based on the determination of the goodwill, there should be a test for impairment.
Despite CanGo’s initial success, however, the organization is not without its fair share of concerns. The primary issue with CanGo is that it lacks a formal strategic business plan. The company has also failed to clearly define what its short-term goals and long-term goals are and how it plans to go about realizing those goals. The company also has problems with its current organizational structure. Although roles are clearly defined, CanGo often succumbs to a centralized form of decision-making, with Elizabeth Bennett micromanaging to such a degree that the decision-making process almost becomes paralyzed.
The question we all as taxpayers should be asking is whether or not we will see a good return on our investment. The Democratic proposal is a bit more negotiable since the taxpayers would at least own an equity interest in these companies. However, even that modified plan seems too expensive and way too intrusive. We should consider alternative plans that are not quite as intrusive to market mechanisms such as the Lindt plan. The Paulson plan also seems to signal a dangerous shift away from liberal market mechanisms into an age of neo-mercantilism.
A good accountant from a utilitarian perspective would assess how the organization is creating and maximizing utility. Utility can be defined in many ways but a concise description is utility is the happiness added by a certain activity. This utility would be assessed all by values as utilitarians try to attach value created to every decision they make. Non-financial information is not important for good accountants to worry about, only financial information that is important for societal value. As long as the organization is maximizing the utility with the decisions they make, the good utilitarian accountant should not worry themselves with the moral implications of the decisions they made.
In addition, this essay will propose some related recommendations to lighten the impact of ethical deficiency. Body: 1. Topic of paragraph: fraudulent financial reporting Topic sentence: Fraudulent financial reporting is pervasive phenomenon in the field of accounting. Managers’ purpose: in order to stimulate the stock price Focus on short-term profits Not available for the long-term development of a company 2. Topic of paragraph: embezzlement of assets Topic sentence: Embezzlement of assets is the use of company’s property for other personal purpose rather than for company’s profits or development.
It uses Public money unnecessarily and is unfair to taxpayers. It makes financial reform going forward much more difficult. Protecting the markets for derivative products like CDOs and CDSs allows for a repeat of the risky practices that got us into the current crisis. And finally, by guaranteeing the corporate existence of large banks, we are maintaining their power and priorities and thus are not likely to see gains on predatory lending, foreclosure abuse, and other areas where reform is sorely needed. If we want to help the people who are suffering in this crisis and recession, then we should make financial policies with them directly in mind.
Conversely, common-sense is very different. It is the ‘sound and prudent judgment based on a simple perception of the situation or facts’. (Merriam-Webster, 1996). Explanations are untested, rely on a limited global view and help to reinforce the familiar. As a result of this, these explanations are not at all reliable due to the fact that knowledge is not obtained from a dependable source and that the knowledge itself and evidence behind it is lacking in detail.
It’s said that personality traits are not the only factors that control an individual’s behavior; situations are important as well. Some situations will make a person more or less shy, open, careful or friendly, and more or less dominate this is because situations are varied according to the people who are present and implicit rules that apply (Prince & Bouafford. 1974: Wagerman & Funder, 2007. Funder pg 118) The dominate and the submissive for individual differences has zero value for a trait only a continuum at measuring how people differ from one another. The trait approach assumes that people are their traits, yet dominate and submissive shows that people are unpredictable and it’s all conditional on what is going on at the time of the situation.
Motivation vs. Inspiration An important topic of discussion within many organizations is the difference between motivation and inspiration. For some, the two are synonymous. For others there are significant differences. The difference between inspiration and motivation is that inspiration comes from within, whereas motivation comes from without. Motivation relies on external factors, such as the promise of rewards and the incentive of personal gain, and as such, it is short-lived and unsustainable.