Running Head: PERSONAL BUDGET, BALANCE SHEET AND CASH FLOW Personal Budget, Balance Sheet, and Cash Flow Statement ACC/547 University of Phoenix Personal Budget, Balance Sheet and Cash Flow Statement Summary Many factors have an impact on the financial planning of families, individuals, and businesses. Factors such as background, age, education, income, dependents, and goals all affect the financial statements of individuals. Planning carefully and keeping accurate records of personal finances help to develop a better understanding of a person’s financial status. Careful planning and record keeping of personal or company finances is extremely important for developing good spending habits and enjoying financial success (Kapoor, Dlabay, & Hughes, 2009). The following memorandum provides a summary of facts, such as age, dependents, education, income status, concerns, and goals, regarding Tom and Sue.
Background Jessica Turner started Turner Test Prep in the summer of 1997 after graduating from Case Western Reserve University with a master’s degree in Accounting. She passed the CPA exam and began applying to Big Six accounting firms. Frustrated after receiving several rejections, Jessica began to consider other employment options. Her undergraduate degree was in business, and after graduation, Jessica worked for several years in the business office of a small test prep company based in San Francisco. The company prepared students who wanted to take primarily the SAT, GRE, GMAT, MCAT and LSAT.
Projects which increase shareholder value could be formed with benchmark hurdle rates, the company can ensure a return on projects which results in profitable and competitive advantage. 2) Optimize the use of debt in the capital structure: Marriott invests a lot of money in long term assets that's why it is really necessary for the company to maximize and optimize its debt. And the company has an A rating. It means that Marriott is able to borrow an important amount of money to invest and it could be heavily indebted. Therefore, it is really important to optimize the debt level.
In order to evaluate the success of those decisions, managers must be able to analyze their decisions and fully understand the impact past decisions will have on the past, present, and future health of the company. The tools to analyze the business in such a manner are found in corporate finance. Thus corporate finance is important to all managers because it provides the necessary tools to evaluate decisions that satisfy every company’s two main goals. Brigham, Ehrhardt. Financial Management: Theory & Practice, 13th Edition.
That young adult graduates with student loans and credit card debt. They obtain a job, buy their first car and move out of their parents’ house. They use their credit cards to buy fast food or drinks on a Friday night while only paying the minimum amount due on their credit cards. Fast-forward fifteen years and many of them are still using credit cards to maintain
Assignment 1: Economic Basics (24.0 points) 1. Describe two examples of important things that financial planning skills can help you do, and explain why these things are important to you personally. (4-6 sentences. 2.0 points) Two skills that important with financial planning are, first is create a budget. It is vital in keeping your financial house in order.
Why should organisations collect, file and maintain accurate financial records? To have a record of how the business is running. To determine how the business is sitting financially and to inspire different processes to assist in growing the business. It will also display what money is going where and whether there is any room for alterations in staffing, produce, and marketing. Basically, it is used to anaylse the business as a whole and per section and to determine performance.
Analyze the assumptions held by relevant individuals and groups in the case. a) Jim Davis is only 23 years old. Before he join Hereford National Bank in October, his worked as a sales representative in IDS. Because of his professional knowledge in financial field, Jim was placed in charge of the Retirement Division after his five-week training session. After few month, he is promoted to business development manager and meanwhile he also needs to keep up with the Retirement Division.
It has also been pointed out by Richard Dreyfuss, writer for the Manhattan Institute, that “...pension obligations now threaten to outstrip the government’s ability to pay, since the investment risk and any resulting deficits are the responsibility of the taxpayer”(2). Dreyfuss’ point helps to highlight the fact that the entire economy will be impacted by the impending pension crisis. Taxpayers will be forced to make up the difference that remains once the government decides it cannot afford to
Professional background of Carranza Meteoric rise at UPS The success of a part-time clerk. In the beginning Jovita Carranza started out as a clerk, and after a career spanning twenty five years, ended up serving as vice president of domestic operations and president of international operations for Latin America and the Caribbean of air operations for United Parcel Service. She started at UPS because, as a 26 year old single mother attending college, she needed to find a way to make ends meet. Political career of Carranza Deputy Administrator of the U.S. Business Administration Unanimously confirmed by the United States Senate in 2006. She was appointed by President George W. Bush and as the Deputy Administrator for the United States Business Administration.