How governmental entities will be affected by GASB pronouncement Research Paper

How governmental entities will be affected by GASB pronouncement - Research Paper Example This is done by several different types of documents and mechanisms that together comprise what is better known as GAAP hierarchy for governments. However, not all the mechanisms and documents used by the GASB to set accounting principles and standards have the same weight and importance, hence the need of the term hierarchy which implies that some are going to be more important than others (Fischer et al, 127). In the absence of a pronouncement or another source of accounting literature, the financial statement preparer may consider what is termed as â€Å"other accounting literature.† In this category of â€Å"other accounting literature†, it includes a variety of different sources ranging from GASB Concepts Statements that are often GASB documents that describe the conceptual framework from which GASB statements arise on the more authoritative side to accounting books and articles on the less authoritative side. Accounting for leases is one of the more technically ch allenging areas in accounting including governmental accounting. The following explanation aims to describe the accounting and financial reporting requirements for lessees (Ruppel, 68). Essentially, these accounting requirements depend on whether the lease is classified as a capital lease or an operating lease. This classification is made in the same manner by governmental entities as well as commercial enterprises. However, the difference between the two is whether the lease is accounted for by a governmental fund, or by a proprietary fund. Nevertheless, the reporting requirements differ significantly. The Governmental Accounting Standards Board provides guidance to state and local governments on applying the requirements of SFAS in a manner consistent with that of governmental accounting. In other words, governmental funds need to account for the capital assets and long-standing liabilities resulting from accounting for a lease as a capital lease consistent with how capital assets and long-standing liabilities are otherwise accounted for by governmental funds. The effect of recording capital leases on the state -wide financial statements must also be considered. The requirements of GASB can be applied by proprietary funds and in the state-wide financial statements directly, since these funds and financial statements use the same basis of accounting and measurement focus as commercial enterprises. This often results into identical accounting treatment for these leases. The accounting for leases is derived from the view that a lease that transfers substantially all the benefits and risks of ownership should be accounted for as the acquisition of an asset and the incurrence of a liability by the lessee (Fischer, 118). In recording capital leases by a lessee, there are significant differences in the accounts used by the Governmental Accounts Standards Board and proprietary funds. In the case of GASB, the primary emphasis is on the flow of financial resources, an d expenditures are recognized on the adjusted accrual basis of accounting for leases. Therefore, if a lease agreement is to be financed from general governmental resources, it must be accounted for and reported on a basis consistent with governmental fund accounting principles. Furthermore, capital assets used in governmental activities acquired

Company †Strengths and weaknesses Analysis Essay Example for Free

Company – Strengths and weaknesses Analysis Essay Application Assignment †¢Application Assignment on Situational Analysis and SWOT common to all themespgs MM-112 to MM-122 PART B and C (to be submitted together) (15+ 5 Marks) Company –Strengths and weaknesses Analysis Remember this assignment is in continuity to the previous marketing assignment. Here we do a strength and weakness analysis for our company vis -a- vis competitors. We need to know: A. What special strength/ competence or assets company has to satisfy the needs of customers? B. Who competes with us in meeting those needs and what is their competence, strength or asset? Can we scale our own firm and the major competitors on those competencies and strengths? This kind of an analysis follows a 3-step process. 1Identification of all our Competitors. Competition does not stem only from products or firms that compete directly for your market share but also from any company that satisfies the same customer need. (Refer to the ‘Market concept of competition’ at the end of the assignment ) 2List the areas in which your organization or the competitor has the competence. Needless to say that these areas should be industry relevant. An indicative list of the areas in which a firm can have strength / competence is listed below. Innovation ?Ability to develop innovative products ?Amount of Rs. spent on RD ?Patents that a company has to its credit ?Technical product or service superiority Manufacturing ?Favorable Cost Structure ?Flexible production operations ?Access to Raw materials ?Quality of work force ?Capacity ?Outsourcing Finance- Access to capital ?Ability to generate funds in the short and long run ?Ability to use debt and equity financing ?Parent firms willingness to finance Management ?Quality of top and middle management ?Knowledge of business ?Culture ?Strategic goals and plans ?Entrepreneurial thrust ?Planning or operation system ?Loyalty ?Quality of strategic decision making. Marketing ?Product quality reputation ?Product differentiation ?Brand name recognition ?Customer orientation ?Breadth of the product line ?Segmentation ?Distribution ?Retailer relationship ?Advertising / Promotional skills ?Sales force ?Service Customer base ?Size and loyalty ?Market share ?Growth of segments served This list is only indicative to serve as a guide to the major areas in which a firm can have strength/ competence. You can add on or delete items to suit to your company and industry. 3Scaling your organization vis a vis the competitors on the parameters listed above-The Competitive strength Grid *(Please refer exhibit at the end of the assignment) Once the strengths / assets relevant to the industry have been identified, one has to scale one’s own firm and the major competitors on those strengths. One such grid has been done for the Luxury car market. The left side of the grid identifies the areas in which a luxury car maker can have strengths/ competencies namely product quality, product differentiation etc. On the right side various brands have been scaled with either less than average, average or above average position with respect to the strength/ competence identified. For ex. Cadillac has above average position in product quality, average when it comes to product differentiation and less than average on dealer satisfaction, all 3 areas being key to success in a car market. Assignment questions 1. Identify all the major competitors to your product. (Already done in part A of the assignment) †¢ICICI bank †¢HDFC †¢SBI †¢Deutsche Bank †¢Citibank †¢Goldman Sachs 2. Identify and list all the major strengths/assets/ competencies relevant to your industry. Core competencies: †¢Customer service †¢Risk management Compliance †¢Strategy Development †¢Strong leadership and management †¢Sales, marketing and Operations †¢Client base and brand 3. Scale your firm and any two other competitors on these strengths in a Competitive Strength Grid as is shown in the example. HSBCICICI bank Deutsche Bank †¢Customer service †¢Reach to the customer is good †¢Good relationship management †¢Premier clients focused cells †¢Reach to the customer is good †¢Premier clients focused cells †¢Reach to the customer is good †¢Good relationship management †¢Premier clients focused cells †¢Risk management Compliance †¢Credit Risk †¢Operational Risk †¢Market Risk †¢Credit Risk †¢Operational Risk †¢Market Risk †¢Credit Risk †¢Operational Risk †¢Market Risk †¢Strategy Development †¢Reach to global markets †¢Presence in emerging economies †¢Specific to one country †¢Reach to global markets Strong leadership and management †¢Business expansions Leadership support †¢Culture of developing and retaining leaders †¢Strong international management and leadership †¢Business expansions regionally †¢Strong management presence †¢Business expansions Leadership support †¢Strong international management and leadership †¢Sales, marketing and Operations †¢Consumer / Transactional Sales †¢Advisory / Relationship Management Sales †¢Consumer / Transactional Sales †¢Advisory / Relationship Management Sales †¢Consumer / Transactional Sales †¢Advisory / Relationship Management Sales Client base and brand †¢History and strong brand †¢Your local banker approach †¢Internationally renowned brand †¢Strong regional brand †¢History and strong brand †¢Internationally renowned brand 4. Do you have a competitive advantage superior to that of the competitor in any or more area? Do you see major areas for improvement in any competitive area? The areas of competitive advantage are: †¢Strategy Development †¢Reach to global markets †¢Presence in emerging economies †¢Strong leadership and management †¢Culture of developing and retaining leaders Strong international management and leadership †¢Client base and brand †¢History and strong brand †¢Your local banker approach †¢Internationally renowned brand Areas for improvement: †¢Larger presence in retail operations in emerging economies †¢Leveraging technology to increase efficiency, access to markets and risk management †¢Innovation by providing weekend banking and banking in non official hours PART C Assignment question 1. Based upon PART A and Part B of the assignment, consolidate the Strengths , Weaknesses, Opportunities and Threats for your organization into a SWOT Grid.

Company Mergers :: essays research papers

Company mergers and the effect on employees and consumers. Context:  · Employees  · Management  · Consumers Direction:  · On-line research (On-line Magazines, News Groups)  · Human Resources Why the topic is important:  · Mergers have affected our group, and it is a growing trend in the American businesses today. Relevant Terms: Merger   Ã‚  Ã‚  Ã‚  Ã‚  A merger is achieved when a company purchases the property of another firm, thus absorbing them into one corporate structure that retains its original identity. Consumer   Ã‚  Ã‚  Ã‚  Ã‚  Consumers are everyday people who buy goods for personal use. Consumers have the right to question object and boycott companies who are not in their best interest. Culture   Ã‚  Ã‚  Ã‚  Ã‚  Company culture is the DNA of an organization, not always visible, but it controls the form and function of such elements as decision making, communication style, reward and recognition methods, reporting hierarchies and leadership values.   Ã‚  Ã‚  Ã‚  Ã‚  A lot has been written about the financial aspects of merging companies. Less attention has been focused on the human element. More and more firms risk similar fates as the nation continues to experience a boom in mergers and acquisitions. Last year there were 11,655 domestic mergers and or acquisition deals for a staggering $1.6 trillion, according to Securities Data Company, a research organization in Newark, NJ The number of deals has more than doubled since 1990, when 5,654 transactions were reported.   Ã‚  Ã‚  Ã‚  Ã‚  In most merger and acquisition cases, the parties involved follow a well-established mating ritual called due diligence, which allows them to explore the merits of the marriage. Behind the scenes, lawyers, accountants and high-priced financial analysts join with top executives to make sure the move is strategically and financially smart.   Ã‚  Ã‚  Ã‚  Ã‚  Although predicted synergy’s point to handsome profits down the road, when the earnings reports start rolling in, the outcomes are often disappointing. Seven out of ten mergers and acquisitions do not live up to their financial promise. Forty seven percent of the acquired executives leave in the first year; and seventy five percent leave in the first three years, according to Mark Herndon, regional service leader, mergers and acquisitions, at Watson Wyatt Worldwide in Dallas.   Ã‚  Ã‚  Ã‚  Ã‚  The major cause of failure may have nothing to do with the financial or legal details that have been so carefully ironed out between accountants and lawyers. â€Å"People think that if you do the financial deal, the soft and squishy stuff will fall into place,† says Tom Davenport, a partner at Towers Perrin in San Francisco. â€Å"Not true. It’s the soft and squishy stuff that will make or break the deal.

An Introduction to Adolescent Depression and Suicide

Teenage angst is often referred to normal during that an unfortunate phase called adolescence through which many parents hope their children will emerge unscathed, and suffer through it with a philosophical attitude.Many incidents of unreasoning anger, social withdrawal, apathy and refusal to communicate are taken as signs of this phase and no more. However, these behaviors have also been identified as signs of adolescent depression, and those who are at-risk may very well be diagnosed with this condition. Parents would be well advised to eye such incidents with some attention, especially if it occurs over a prolonged period of time.True adolescent depression is made more difficult to diagnose this is the rebellious phase of teenagers, a time when they are most difficult to communicate with.This period of development is marked with transient period of depression-like signs such as sadness and loss of self-worth due to the normal process of maturation and its concurrent stresses, such as sexual development and conflicts with authority figures such as parents.Other stressful events, such as a romantic break-up or death in a family may be difficult for some teenagers, especially those with low self-esteem to cope with. When the behavior is persistent, this could already a depressive disorder (â€Å"Adolescent depression,† 2005).Adolescent depression is thought to affect up to 5% of children between the ages of 9 and 17, although as much as 15% exhibit some symptoms of depression at any given time. The condition affects the functionality of the adolescent that becomes apparent in poor performance in school, deteriorating social interactions, and hostile family relationships and may eventually lead to suicide.Many of those affected are seldom diagnosed and treated properly, and some experience depression before the age of seven. Major adolescent depressive disorder, the most severe degree of the condition is diagnosed similar to the criteria for major depress ive disorder in adults (Bhatia and Bhatia, 2007).There are many conditions for which adolescent depression can become a long-term problem, including depression in adult life and suicide. Some adolescents begin their depressive periods in early childhood, which becomes worse as the stress of life becomes more intense.It would be of paramount importance, therefore, to be able to distinguish between a teenager â€Å"acting out† and true adolescent depression. This paper aims to provide a comprehensive overview of adolescent depression, its symptoms and diagnosis, treatment and the risk of suicide associated with it.MethodologyScholarly articles detailing the known symptoms, risk factors, statistics and treatment protocols for adolescent depression and associated suicide were included in this paper to condense the information about the condition.These include articles from the American Family Physician, a peer reviewed journal of the American Academy of Family Physicians because adolescent depression is mostly a problem that beset families and are best solved at this societal level.Articles from the New England Journal of Medicine, American Journal of Psychiatry and the University of Pennsylvania Health System were also included to support the findings, as well as current event articles on depression screening in schools and the interaction of sexual activity and depression.Studies on the suicide rates associated with adolescent depression were taken from the British Medical Journal and American Journal of Psychiatry.A public health survey conducted by the Washington County Department of Public Health and Environment on teenagers was also included to provide a subjective perspective of adolescent depression and concepts of suicide.There is also the issue regarding the efficacy of current treatment methods for adolescent depression, elucidated with reports from Stanford University, The British Journal of Psychiatry and a reprinted article in Pediatric Nursin g.Results survey of teenagers on adolescent depression and suicideIn 2000, the Washington County Department of Public Health and Environment conducted two surveys designed by the Youth Risk Behavior (YRB) Endowment Advisory Committee to identify discover the main points to cover for managing depression, suicide and overall mental health of teenagers in Washington County.Of the 17,726 teens in the area, 1,875 adolescents in grades 7-12 responded to two surveys, namely survey 1 â€Å"Depression & Suicide: How Can We Make A Difference† and survey 2 â€Å"Communities For Teen Health†.In the first survey, 87% of the respondents believe that depression and suicidal thoughts are a big problem among teens today.When asked what kind of information they believed would benefit at-risk teens, 85% believed parents should be able to recognize signs of depression in their children and to take it as a serious matter while 81% maintained teens should be able to talk to friends about ho w they are feeling.Many (74% and 73% respectively) believed it was important for teens to be able to recognize if they are depressed and if others are depressed and to know where to go if they suspect they or others suffer from depression. Ninety-three percent of respondents believed guest speakers, motivational or other teens that have gone through depression and suicidal thoughts would be the best source of this information followed by television at 60% and caring adult at 54%.Having open communication, acquiring better understanding and reducing the amount of stress were the top answers for what adults and other teens can do to influence mental health of the youth.For the second survey, which investigated the involvement of the community in this condition, 31% of the respondents believed education was the venue most utilized for addressing the problem. Someone to talk to and friends tied at 26% for the best way depressed teens can be helped while 80% believed better awareness for parents and teachers was crucial.Twenty-one percent of the respondents believed more money should be spent on more education while 19% thought money would be well spent on media (â€Å"Adolescent depression & suicide opinion survey,† 2001).Symptoms and signsâ€Å"Major depressive episodes for adults and adolescents are similar in criteria†. Over a two-week period, comparative tabulation of the major symptoms is provided (Bhatia and Bhatia, 2007).

Define the term ‘consent’ in adult social care

Consent is giving permission to do something.In health and social care settings it usually means that the individual gives consent to take part in an activity or to accept some kind of care or treatment – this could be agreeing to have a shower or a bath – agreeing to take medication, as well as agreeing to have their details shared with others.Why is it important that a social care worker works in a way which promotes person centred values? Person-centred approaches are about the individual being the centre of their care and support plan enabling them to have control over their lives. Person-centred approaches are about enabling individuals to live their own lives and not just providing a service. It is about focusing on the individual person’s needs and not the tasks that need completing.Person-centred planning is a way for individuals to plan for what they want now and in the future, together with the people in their lives who they like and trust. Everyone has a right to plan their own lives and be at the centre of any planning that is done for them. Everyone has a right to be part of their community. Everyone has a right to live their lives as they want, and if they need support to do this for this support to be provided in a way in which they want it. There are eight person centred values that support person-centred care and support. These are: IndividualityIndependence Privacy Partnership Choice Dignity Respect RightsBy following the values set out above, we will be able to develop a clear understanding about the individuals we are working with. This includes their needs, their culture, their means of communication, their likes and dislikes, their family and other professionals’ involvement so we can promote and provide person centred care and support.