Accounting Is Important For Growth Sustainabilityâ€Free Samples

Accounting is very important for the growth and sustainability of both old as well as new businesses globally. The financial books, therefore, need to be in top shape every year in order for other activities to run smoothly and improve profitability. Moreover, proper accounting of financials of the businesses enhances the future trends of the business in terms of making decisions (Guthrie and Parker, 2014). This calls for efficient and long-term plans in terms of accounting for a business because the accounting needs are likely to increase as the business grows. In this case, the international financial reporting framework needs to be adopted because it is associated with several merits (Jorissen et al., 2017). To determine the effectiveness of financial accounting report statements in SMEs in Jaipur, India. The importance of financial accounts in the businesses cannot be underestimated. The scope of this study will be to focus on non listed private limited liability entities in the financial sector such as banks and other privately owned firms and companies. The SMEs will thus be selected from this class of businesses and their financial statements analyzed. Accurate financial reporting also gives the investors the willingness and confidence to invest in the business. Moreover, accurate finance reports lead to low costs of capital and ensure that the resources in a business are allocated wisely on the basis of economic development (Suddaby et al., 2015). This calls for the internationally recognized accounting standards to be used because they are of top quality. Another advantage of the global accounting standards in a business is that they can be shared, understood and embraced by several setters of standards globally. Although there are some domestic setters of financial standards, but they need to be in agreement with global setters. In this case, the basic theory of financial standards is not just theory but should be based on support. Since there are very many global standards which act as a financial to global accounting and auditing, the standards adopted should be able to achieve some results. Be hiring a reputable company to ta ke care of the accounting needs of a business, it could be possible to be moving in the right direction in terms of accounting. This makes it possible to fill in some gaps which exist in global accounting which could lead to enhanced business performance. There are some functions of business transactions such as payrolls and ledger books which are almost a daily part of any business (Armstrong et al., 2015). These transactions are carried out on the basis of a set routine and protocol which do not necessarily require expertise in business. In some cases, this can be very dangerous to the company because global accounting standards are very crucial in minimizing errors. In this case, a research will be carried out to determine the use of SMEs in Jaipur city in India. Lack of proper accounting in business is identified with various problems which can negatively affect the continuity and overall performance of a business. For instance, inappropriate accounting makes it difficult for a business to open operations in new markets (Guthrie and Parker, 2014). With increasing varied needs for various market segments, the financial companies face a lot of pressure in an effort to meet the clients' needs. As the shortage of labor increases, so does the companies become in need of talents for its employees. With the young generation adopting technologies, when they retire from service, it becomes important for a company to get other talented people so that they can create plans for the future business operations (Kaya and Koch, 2015). Moreover, there are challenges in creating a team of internal employees who can demonstrate leadership abilities. Such leaders are very crucial for the continuity of the business upon retirement. However, the challenges being faced by businesses in terms of financial accounting and auditing create problems. If some talented leaders would be trained, they would become experts in solving some of the problems that the business might face in the course of its operations (Van Auken and Carraher, 2013). Such motivated and talented employees who possess the best qualities for business operations can thus be an asset because they determine the way in which the customers, employees, and investors perceive the company (Leuz and Wysocki, 2016). However, if the resources are not appropriately allocated due to poor financial reporting, then it becomes difficult for the business to obtain external help in molding the team of next generation leaders who would build the reputation of the business. There are several problems which are associated with lack of proper financial accounting among the SMEs. Most of these classes of business do not adopt the international accounting standards and may mostly rely on their accountants. This could lead to improper decision making which affects the profitability of the business due to failure in meeting the requirements of the business. Another problem which emanates from improper financial reporting is that there are problems with regards to adoption of technology. Some businesses are so reluctant in coping and keeping abreast with the ever-changing trends in technology in order to meet the needs of the customers. Moreover, poor financial reporting could make it difficult to handle the expectations of the clients. This is because nearly every client expects to receive top quality services so that the problems that they are facing can be solved within a short time. It becomes wise that financial reporting companies maintain the customers who are of the same type in terms of meeting their expectations. Since there are variations and varied arguments on whether to use the qualitative or quantitative methods, this study will adopt the mixed methods. The mixed method will apply many data collection methods in terms of interviews and questionnaire surveys. This will allow the detailed investigation of financial reporting among the SMEs in India by use of several perspectives, a step which will increase the confidence of the researcher on the obtained data and results. The use of multiple sources will enhance a complete and holistic form of data collection for this research. As a result, elements of both the qualitative as well as the quantitative data collection methods will be used. This is because there is a wide range of research questions which needs to be answered to meet the requirements of this research. Some of these research questions are more of descriptive and exploratory, necessitating the use of mixed methods. More specifically, the inclusion of the qualitative aspects of data collection, will make it possible to understand the complex nature of the aspects that are being studied and hence a clear understanding. Since the accounting processes involve the human behaviors, the mixed research will help in gaining an understanding of the nature of usage of accounting information. The qualitative research will therefore use a detailed questionnaire which will have both open ended as well as closed ended questions. Therefore, the concurrent triangulation research approach will be used such that the quantitative and qualitative data collected will be analyzed separately but interpreted together. For the quantitative methodology, well structured interviews will be conducted to the same number of respondents on phone as well as face to face. This will ensure that each of the interviews will have the same set of questions. As such, comparisons between various types of SMEs will be easily made based on the aggregation of the obtained answers. In this case, all people of 18 years and above will be included in this study. This will be done in order to ensure that the perceptions of social media marketing in financial institutions were covered throughout all ages. More so, the various SMEs in Jaipur city will be interviewed in order to get their reactions and views concerning financial accounting and auditing in decision-making processes (Vander Bauwhede et al., 2015). Having identified the population, it is important for the researcher to draw a sample from the population. This sample is representative of the population being studied and hence the findings of the sample population can be interpreted on to represent the study population (Charan & Biswas, 2013). In this research, the sample size will be 150,000 SMEs in Jaipur city of India. In this study, simple random sampling technique will be used to interview respondents, answer the research questions and test the hypothesis. A pilot study will be carried out before the main study in order to determine the effectiveness of the data collection tool before the main survey. The variables in this research will be classified as dependent (that the researcher is interested in) and independent (affects the dependent variables). The dependent variables will include age, gender of the respondents. The independent variables will include the nature of the business, whether they use the standard financial accounting standards, level of effectiveness of the financial statements, nature of the business and whether they file the tax returns. Having chosen the sample for this study, forms of informed consent will be sent to the study participants electronically and by hand delivery. The purpose of the study will be explained to the participants and responses will be promised to be confidential and only compiled together with the views of other participants to make a general conclusion and recommendation. The questionnaires will be sent to the respondents via their email addresses while others will be delivered by hand by the research assistants. The participants will be asked to submit the filled questionnaires back to the researcher after three days. The responses received from the questionnaires and interviews will be entered in Microsoft excel, edited and coded as appropriate. The data will be exported into SPSS version 17 data analysis software, analyzed and data presented using descriptive statistics such as means, mode percentages, 5-likert scale and standard deviations. The summaries of the results will be visually presented in forms of tables, charts, and graphs. Moreover, multilinear regression model will be used to find out the use of financial accounting in SMEs. The responses received from the questionnaires will be entered in Microsoft excel, edited and coded as appropriate. The data will then be exported into SPSS version 17 data analysis software, analyzed and data presented using descriptive statistics such as means, mode percentages, 5-likert scale and standard deviations. The summaries of the results will be visually presented in forms of tables, charts, and graphs. Moreover, multilinear regression model will be used to find out the effectiveness of financial reporting for SMEs. While the multi-linear regression controls the effects on independent variables, it will also offer information concerning the effects of independent variables. It is expected that most of the SMEs that uses financial reporting are banks, tax authorities and some management entities. For the case of large SMEs, the financiers are the biggest users of accounting (Brouwer and Hoogendoorn, 2017). Since the directors form the majority of the shareholders of the SMEs, several sources of information are used for the purposes of decision making. In this case, the SMEs statements are expected to be the biggest source of information for the purpose of decision making. There is a likelihood of using both internal as well as external sources of financial accounting reporting standards (Valentinetti et al., 2016). Most of the tax liability by the directors of the SMEs can be estimated using financial statement. The use of mixed methods in research is associated with threats to the validity and reliability of the results obtained. For the primary data a test for validity and reliability will be conducted to find out whether the same results can be reproducible. However, for secondary data, there will be no need of carrying out the test because the data will have already been published and signed as passed in the financial statements of various SMEs. Some of the limitations of the methodology in this research will be in terms of the long time and effort required. Moreover, the research will require more resources in order to collect enough information to answer the set-out research questions. While many sources of information will be used in order to be confident with the research findings, most likely some of the information obtained might not be collaborative and hence there could be a possibility of the discrepancy of results. Most of the respondents who will be considered in this research are those who have sound business enterprises. Since some of the respondents who will be out of reach will be sent the questionnaires, there might be a possibility of bias in terms of ability to read, write or use internet services. Armstrong, C., Guay, W.R., Mehran, H. and Weber, J., 2015. The role of information and financial reporting in corporate governance: A review of the evidence and the implications for banking firms and the financial services industry. Brouwer, A. and Hoogendoorn, M., 2017. The role and current status of IFRS in the completion of national accounting rules–Evidence from the Netherlands. Accounting in Europe, pp.1-13. Charan, J., & Biswas, T. (2013). How to calculate sample size for different study designs in medical research?. Indian journal of psychological medicine, 35(2), 121. Guthrie, J. and D. Parker, L., 2014. The global accounting academic: what counts!.  Accounting, Auditing & Accountability Journal,  27(1), pp.2-14. Jorissen, A., Britton, A., van Mourik, C., Hoogendoorn, M. and Alexander, D., 2017. International Financial Reporting and Analysis. Kaya, D. and Koch, M., 2015. Countries’ adoption of the International Financial Reporting Standard for Small and Medium-sized Entities (IFRS for SMEs)–early empirical evidence. Accounting and Business Research, 45(1), pp.93-120. Leuz, C. and Wysocki, P.D., 2016. The economics of disclosure and financial reporting regulation: Evidence and suggestions for future research. Journal of Accounting Research, 54(2), pp.525-622. Mulvey, G. J. (2015). Ethics in research. Bulletin of the American Meteorological Society, 96(3), 477-479. Suddaby, R., Saxton, G.D. and Gunz, S., 2015. Twittering change: The institutional work of domain change in accounting expertise.  Accounting, Organizations and Society,  45, pp.52-68. Valentinetti, D., Rea, M.A. and Basile, C., 2016. Differences between national reporting practices and IFRS for SMEs presentation and disclosure requirements: Evidence from Italy. International Journal of Accounting and Financial Reporting, 6(2), pp.146-174. Van Auken, H. and Carraher, S., 2013. Influences on frequency of preparation of financial statements among SMEs. Journal of Innovation Management , 1(1), pp.143-157. Vander Bauwhede, H., De Meyere, M. and Van Cauwenberge, P., 2015. Financial reporting quality and the cost of debt of SMEs. Small Business Economics, 45(1), pp.149-164.

Louis i kahns phenomenah Essay Example | Topics and Well Written Essays - 7000 words

Louis i kahns phenomenah - Essay Example But more than that, the buildings that are created become the living testimony of the coming together of men, of the institution of men. This whole manner of looking at the intricate connection of man, of buildings and of the institution of men is given to humanity by a man who himself changed the image, the very esse of architecture in the contemporary milieu – Louis I Kahn. The aim of this paper is to address one poignant question Why Louis I Kahn’s work is important in the history of architecture in particular and in the history of humanity in general? In order to answer this question, this paper will look into three factors that are integral into the analysis of the question. First part of the paper will be the presentation of Louis I Kahn as the man, the architect and the philosopher. Second, the paper will delve into some of his buildings which attest to the great legacy that Kahn has left humankind - Salk Institute, the National Assembly in Sher-e-bangla in Bangladesh and the Kimbell Art Museum. Third, drawing heavily from what have been elucidated in the first and second parts of this paper, the paper will present the answers to the main question of this paper. And as the task of answering the main query of this paper throws light to the gift and brilliance of Louis I Kahn, it is acknowledged that to be able to fully understand Louis I Kah n it â€Å"involves the rewriting of the history of architecture† 1 the paper holds that this simple exposition is minute in comparison to the greatness of Louis I Kahn the architect, the philosopher, the man. â€Å"Man is born with what to do but not how to do it; how to do it takes a long, long, long time.†2 Louis I Kahn said this statement in his 1966 Berkeley Lecture. This claim thrust the reader into the conception that Kahn’s notion of the human nature is anchored on the age old philosophical ideal that human nature is beaming with potentiality for action and that what determines

Being in high school and being in college Essay

Being in high school and being in college - Essay Example Thus student’s life is characterized by two distinctive phases, one being the school life and other being college life. Though education and gaining of knowledge is the primary thing, which is common between a student attending a high school or college, still there are many differences which exists between them. This is because both the high school and college are two different types of worlds, with their own distinctive characteristics which make them unique. Teachers, classes and a whole range of other factors are the ones, which makes a deep impact in the minds of students, while being in high school or in college. But it will be seen in most cases that, there will be quite different types of liking for the students, during their life in college and in high school. (www.associatedcontent.com) High school is often characterized by strict supervision by the faculty and it is often characterized by lesser freedom, being experienced by the students in general. The environment o f college is totally different from that of high school, where the students enjoy more freedom and expression of thought, which is very vital for any individual’s growth. Students mostly prefer college than high school, since there are various reasons that they feel, they can enjoy being in college rather than at high school. These factors like selection of the classes and various courses, attendance to the classes, general open climate that exists in the college and many others are the things, which make them to have more liking for college than towards high school. Students who attend college are bound by lesser restrictions, than those attending high school. (www.associatedcontent.com) Since the high school lays the base for any individual, it is considered as something that is very much significant for rightly molding them and which cannot be missed. But in the case of college the scenario is totally different. It is up to the wish of individuals to opt for the higher stu dies in college, if they have an idea to further their career. During college studies, individuals have to shoulder more responsibilities when compared to high school, where parents and teachers are there to guide and lead individuals in the right direction. When it comes to the aspect of fees, the college fees is always found to be much higher than that of high school. If the individual opts for attending any public school, which is run by means of the government then it is totally free. But this is not the case of college, which puts much pressure on the individuals as well as their parents for funding the studies. Thus any individual who hails from a low income family, can very well attend high school but it becomes a much tougher choice when opting for higher studies in college, since they will have to pay much more. This is a big disadvantage that crops up in the case of college studies. (www.associatedcontent.com) Time management is yet another area of great contrast wherein t he case of college, students have to manage their own time whereas in high school, the student’s time is managed by their parents and guardians. The student class strength is also found to be very high in the case of college while in case of the high school, the maximum strength varies anywhere between thirty and forty. In high school the notes can be copied easily from other class mates, even if one misses out some classes but this is not the same in case of college. As a result attending each and every lecture is of utmost important in the case of college than high school, where classes missed can be easily overcome through classmates and consultation with teachers. In the case of coll

Mentorship program Research Paper Example | Topics and Well Written Essays - 1750 words

Mentorship program - Research Paper Example Salami (2010) presented both formal and informal mentorship as manifesting sufficient efficacy in reducing turnovers of nurses, where the former is created through administrative partnership, while the latter is through unstructured mutual understanding. Marginally, the paper adapts formal mentoring program as resolution to high turnovers in The Jackson Veteran Health Administration (JVHA). Several steps are succinctly followed to determine overall reliance and appropriateness of proposed structure. General Steps in Implementation On mentorship program in JVHA, aspects on job satisfaction and social interaction in surgical wards are investigated. Complete project draft requires consensual approval from the Office of Policy and Planning and Office of Human Resource and Administration before proceeding (United States Department of Veterans Affairs, 2010). The program is also to obtain financial and administrative support through this department accordingly (Canadian Nurses Association, 2004). As the overall details of the program are smoothly planned out, the plan is ready for pilot implementation. With 1-year mentor program, phases orientation, training, and evaluation are performed. The committee-in-charge prepares for mentoring tasks ahead, with 16 staff nurses as mentors for the whole three work shifts--the number of mentees depend on job vacancies in surgical ward (VA hospital, 2011). In orientation, the program is extensively introduced and functional expectations are mutually established. This lasts for 15-20 weeks, as initial theories and practical nursing applications are reviewed and applied. In training, mentors serve as mentees’ active partners and support them in clinical practice and social interactions. As training proceeds, mentors not only act as role models for mentees to emulate, trusting associations support mentees’ psychological status. Through months of collaborative partnership, mentors gradually wean as educational coach, an d more as referred guide to practice. Periodically, communication patterns from nurses to involved administrative personnel are maintained through constant inspections and written memos. In evaluation, collected data determines whether the program fulfilled the parameters on work satisfaction. Should results meet expected outcomes, the program can proceed as formal policy in JVHA. Resource Identification Availability of resources in clinical areas is part of preparatory task. Block, Claffey, Korow, and McCaffrey (2005) emphasized mentors as prime indicator in a positive working environment. They are instructed on â€Å"phases of a mentor relationship, how to individualize the relationship...deal with any issues the mentor/mentee pair encounters,† while reviewing personal and professional attitudes (Hurst & Koplin-Baucum, 2005). Together with mentors, administrative personnel objectively monitor the progress of the program and existence of conducive functional environment (Al- Hussami, 2008). Resources are composed of materials during information campaigns and episodic post-tests. Written questionnaires are administered, requiring stocks of paper for reproducing copies. Sufficiently, resources for experiential learning are already available in actual settings, from medical equipments to patient charts, as well as conference halls for scheduled meetings. Aside from mentor compensation (minimum of $2/hour) and minimal educational expenditures, projected expenditure is lesser (Almada, Carafoli, Flattery, French, &

Play and Work Essay Example | Topics and Well Written Essays - 1000 words

Play and Work - Essay Example Really, the working process usually brings much pleasure. As for me, I work to realize my abilities, feel myself significant, not to lose time. The given paper will prove that even the richest people can’t do without everyday work. How do we benefit from work? First of all, work teaches people how to be responsible. This explains why children from comfortable families are eager to work. They want to hold the responsibility for their future and do not want to account only on their parents. The sense of responsibility helps us build a happy family. A person who is not responsible for his/her own life will not be able to become responsible for the family, thus his/her family will not be strong and happy. Moreover, the sense of responsibility of the countries’ citizens is the guarantee of state’s thriving and prosperity. The word â€Å"work† is the antonym to the word â€Å"idleness†, and we know what consequences idleness may have. Even if a person has money and may not work for it, he/she still should take effort to make the money work for him/her. This is also a work that will not allow this person to appear without a penny one day. When a person is doing nothing, it leads to wastefulness and wastefulness in its turn leads to poverty. There are many examples that testify that idleness is destructive. Any amount of money can be easily spent during a short period of time. Thus, even the richest people prefer to work rather than doing nothing. Furthermore, many rich ones know pretty well that it is not very easy to become rich, thus they do their best to save their money and the only way to save it is to continue working. The work helps us be healthy and in a good shape. When we do not work, we are degrading and our personality is not developing. We need constant practice in order to keep the knowledge we once gained. That is why old people prefer to work even after retirement. They do not want to lose the skills and knowledge. Ol d people also state that working after retirement help them feel young and healthy. Every work is beneficial. Unfortunately, in our society people prefer to respect only intellectual work. It is valued high and, thus, brings more money. Certainly, intellectual work demands getting an appropriate education, therefore many people do their best and sacrifice much in order to receive a good education. However, I consider manual work to be not less important. In the article "brains as well as brawn" Mike Rose talks about the injustice that presents in our society. The author shares the feelings he had watching a carpenter working: â€Å"I am watching a carpenter install a set of sliding French doors in a tight wall space. He stands back, surveying the frame, imagining the pieces as he will assemble them. What angle is required to create a threshold that will shed water? Where might the sliding panels catch or snag? How must the casings be remade to match the woodwork in the rest of the room? And how can he put it all together fast enough and smart enough to make his labor pay?† (Rose 337). Here we can see that the work of carpenter is really difficult and unique, it demands much efforts. Unfortunately, nobody thinks about it and nobody notices his work. In our modern world everybody wants to become an economist, a manager, a translator, but there are few people who value manual work. We prefer to value the work of accountant or a doctor, but never notice the work of, for example, a waitress and the number of tasks she has to implement:

Risk adjusted discount rate Essay Example | Topics and Well Written Essays - 2000 words

Risk adjusted discount rate - Essay Example When considering a business investment of large sums of money within a long term project, it is an important objective to ensure that the money received over the life of the project is higher that the initial cost of investment. In deciding on the investment to undertake time is the most essential factor, followed by the amount of cash going in and out of the business. In some cases, an investment is made not to generate more cash but to make a saving on present cost. (Tony D. and Brian P. 2002, pg 458).The lay out of investments usually involve the injection of large sums of money and returns on the investment are received in a series of small amounts over an extended period of time. In addition, because large sums of money are usually involved it can be very expensive and catastrophic to pull out. Considering the loss of production and investment that can be lost from a failed investment, it is essential that investment proposals are properly screened and examined to ensure that the business uses the appropriate appraisal method. Businesses need finance or funds, both in the short-term and long-term to expand, operate their business or just survive. The business is involved in a continuous in and out flow of money by way of income and expenditure. Expenditure can either be capital expenditure, which is the payment made to acquire additional fixed assets and these fixed assets can in turn be loans made by the business or shares in another business bought by the company, as well as buildings and machinery which are usually long term. On the other hand, income can be revenue expenditures which relates to the purchase of goods and services are in use or have already been used in daily running of the business. In financing an investment a company can either use internal or external source of finance, related to the period repayment. Internal sources of finance as a long term approach are retaining profits from previous investment rather than issuing out new shares and re-investing the profit. The short term source of finance can be to increase level of creditors and reducing the stock and debtor levels. External sources of finance in the short-tem funding are short-term debts which are elements of overdrafts, loans, leases that are payable within one year and invoice discounting. Other sources of external finance are long-term which include ordinary shares or equity shares, preference shares, debentures and leases. INVESTMENT APPRAISAL ANALYSIS Capital investment appraisal methods are divided into two: firstly, those which do not take into account the time value of money and lastly, those which take into account the time value of money. METHODS WHICH DO NOT TAKE INTO ACCOUNT THE TIME VALUE OF MONEY Accounting Rate of Return (ARR) ARR is concerned with either the profit before interest and ta

Risk management Assignment Example | Topics and Well Written Essays - 250 words - 1

Risk management - Assignment Example This is because organizations that perform risk assessment effectively operate more efficiently and have a better understanding of their industries. Risk assessment is used in determining the type and level of risks involved in business operations and processes. It is also used to determine the degree of risk that can be incurred without negative ramifications (Tarsus, 2014). Businesses use internal or external risk management professionals to determine the risks involved in different organizational plans and how they can be managed. Before carrying out risk assessment, specific processes must be initiated to facilitate the whole exercise from start to finish. These include pre-planning, which involves setting the scope and breadth of the exercise, selecting individuals to carry out the exercise and budgeting (Moss, 2014). There is no set time for carrying out risk assessment. It can always be scheduled depending on an organization’s needs and activities. Some organizations like to plan them to coincide with other assessments while others prefer to conduct them exclusively (Aven, Baraldi, Zio, & Flage, 2014). Risk assessment is also done when projects are being commissioned, and the organization needs to understand what it is up against in terms of possible losses and difficulties. Aven, T., Baraldi, P., Zio, E., & Flage, R. (2014). Uncertainty in risk assessment: The representation and treatment of uncertainties by probabilistic and non-probabilistic methods (Illustrated ed.). New York: John Wiley &