Sign Up Now
Get instant access to over 1 million+ study documents
OR
Already registered? click here to login
By creating your account, you agree to our terms of service, privacy policy and student honor code.
Financial Examination
The overall examination of financial documents is integral to the proper functioning of government entities. For one, examinations help to prevent budgetary shortfalls that may jeopardize the economic viability of governments. Stress tests, are particular useful as they provide outlooks contingent of varying macroeconomic situations. These stress test and examinations, when done correctly, allow stakeholders to make proper assessments as to the financial stability of their government. Without these assessments, unexpected events may cause policy changes that harm society overall. Aspects such as the budget cuts currently underway in many of the nation's largest states are a direct result of lackluster financial examinations. Consequently, the individuals will have to sacrifice in the form of higher taxes and lower benefits (McKenna, 2006).
When evaluating Swobodaville's financial condition based on the partial list of factors given, a number of elements cause concern. First, the low income, sales tax exempt households, as a percentage of the total population has increased every year for the past 5 years. This is particularly troublesome...
This may indicate that the overall tax burden is being supported fewer individuals in society. As such, a decreasing amount of citizens are paying a greater proportion of the cities taxes. In addition, economic impacts may be creating a larger proportion of low income families. High unemployment, high levels of individual's debt, or stagnating wages may have increased the proportion of individuals considered "low -- income" As these individuals are exempt from sales tax, the government, to increase revenue may need to reevaluate what it considers "low-income." In addition, it may need to charge low income earnings a smaller sales tax as oppose to simply providing an exempt status (Guthrie, 2011).
In addition, sales tax as a percentage of total revenue has declined every year for the past 5 years. This correlates directly with the argument presented above. Fewer individuals are paying a greater proportion of the sales taxes ultimately lowering the cities sales tax revenue. A declining percentage of sales tax revenue as percentage of total revenue isn't necessarily a negative. Diversity in tax revenue is…
References:
1) Gilbert W. Joseph and Terry J. Engle (December 2005). "The Use of Control Self-Assessment by Independent Auditors." The CPA Journal.
2) Guthrie, J., Roger Burritt and Elaine Evans. 2011. "The Relationship between Academic Accounting Research and Professional Practice," in Bridging the Gap between Academic Accounting Research and Professional Practice, eds. Elaine Evans, Roger Burritt and James Guthrie.
3) McKenna, Francine. "Auditors and Audit Reports: Is The Firm's "John Hancock" Enough?"( 2006). Forbes
Financial & Management Accounting Selling price of the AOK Play Contribution per unit = Selling price per unit -- variable cost per unit total variable cost (= total cost -- total fixed costs) / sales (3,600,000 -- 2,100,000) / 80,000 (1,500,000 / 80,000) Selling price = $50 per unit Fixed cost per unit Fixed cost per unit = total fixed costs / sales = 2,100,000 / 80,000 = $26.25per unit Total cost per unit Total cost = total variable cost + total
While this strategy is effective in some situations, the use of bond markets by an investor requires the development of an effective strategy that will help him/her to achieve a specific financial objective. For an investor seeking to maximize the profit-generating aspects of bonds, the most effective strategy is a passive buy-and-hold bond strategy. As the name suggests, it involves buying individual bonds and holding them until maturity. The
Financial Accounting The question is missing a clause. "…is more conducive to ethical behavior" than what? The word "more" invites comparison but there is nothing to compare the current environment to. Well, the current environment is not much different than any past environment. The regulatory environment does not dictate ethics, as ethics exist distinct from laws. Ethical behavior rests on how society itself defines ethics, and is only loosely related to
As noted, the leverage is deliberate, and probably is designed to deliver these ROEs to shareholders. H&M pays out a large portion of its profits as dividends. Nordstrom's dividend is healthy for an American company, but far less than that of H&M. Nordstrom shareholders must rely on capital gains to a greater extent. Given that both companies are growing, H&M's ability to deliver both growth and dividends is superior for
A the direct support or supervision of individuals who deliver all, or any portion, of the personal financial planning process to a client. A teaching all, or any portion, of the personal financial planning process. Finally the applicant must agree to adhere to the CFP Code of Professional Conduct and submit to a background check. Any pending litigation must be disclosed. The Financial Planner typically operates in four major areas: investment planning, estate
Financial Fraud Fannie Mae Review of Fraud Schemes within Fannie Mae 1998-2004 Scope The agency found the fraud understatements of earnings and illegal gratuities that led to accounting violations and inability to meet Wall Street goals. The investigation of Lee Frakas, executive of a major mortgage company which had dealings with Fannie Mae with hundreds of fake mortgages. The Securities Exchange Commission cited that Fannie Mae had to repay earnings and correct their books