How significant is the concept of time as a way that we classify society? Explain some different cultural notions of time. The concept of time is not universally defined; it is a socially constructed entity‚ as different cultures in the world interpret time in different ways. So‚ do we share time? We all live in the present‚ but do all cultures in the world view the past and the future as holding the same level of importance? In a globalised world it is easy to synchronize clocks‚ but is synchronizing
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Examining the Role of the Financial Manager Corporations operating in the United States are becoming more transparent in today ’s markets‚ mainly due to the Sarbanes-Oxley Act of 2002. Accountability has been increasingly placed on senior corporate officers to comply with the government regulations and validate the financial information presented to the firm ’s stockholders. The fact is that this does not always ensure a firm ’s financial managers‚ employees or the shareholders viewpoints on maximizing
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In these competitive times‚ survival depends largely on an organization ’s capabilities to anticipate and prepare for change rather than just react to it. The role of the financial officer‚ thus‚ becomes crucial to meet these technological‚ economic and political‚ changes. In today ’s business world what is the role of a financial manager? We have all heard at one time or another that "a financial managers wears many hats." The role of the financial manager has expanded beyond traditional responsibilities
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When I think of a financial manager‚ accountant quickly comes to mind. The role of accountant and financial manager are similar in several ways and often times they work closely together on various projects. The role of an Accountant is to ensure that their organization is run efficiently‚ make sure their records are accurate‚ and that their taxes are paid properly and on time. Accountants perform a broad range of accounting‚ auditing‚ tax‚ and consulting activities for their clients. They record
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Just in time (JIT): is a production strategy that strives to improve a business’ return on investment by reducing in-process inventory and associated carrying costs. To meet JIT objectives‚ the process relies on signals or Kanban between different points‚ which are involved in the process‚ which tell production when to make the next part. Kanban are usually ’tickets’ but can be simple visual signals‚ such as the presence or absence of a part on a shelf. Implemented correctly‚ JIT focuses on continuous
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the Financial Manager The role of the financial manager has changed drastically during recent years. Previously‚ financial managers were seen as the stewards of the organization‚ since they were responsible to ensure the accountability of all organizational assets and to generate accurate financial reports. Today‚ their main goal is to maximize shareholder value. In order to achieve this goal‚ they have to be information managers‚ cost managers‚ controllers‚ consultants‚ and risk managers. However
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Assignment Acknowledgement Sheet Module Title: Module Instructor : Semester: Programme: Module Leader: ECM05EKM – Financial Analysis for Managers Samatha Ravu Summer 2012 MBA-IT Samatha Ravu Intended Module Learning Outcomes Name of Student Due Date: Submitted on: Submitted to: Signature: Name and ID Fatima Hassan Al.Lawati PG11f1189 12 September 2012 through Moodle 12 September 2012 Through Moodle Signature 1 Table of Contents 1.0 2.0 Introduction ...................
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VALUE FOR MONEY It could be defined as a concept that evaluates the use of resources at the disposal of an organization with the view to ensuring that the resources have been properly utilized. VFM frequently makes extensive use of performance indicators in the form of ratios and other statistics to sign post VFM through trends over time‚ in comparison to two operating units etc. Under this concept‚ we have three test ways to know if the firms resources have been properly utilized and it includes;
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Key Learning Points: Money Measurement Concept - Only that information that are expressed in monetary terms are being recorded. Entity Concept - A unit‚ which controls & prepares reports that is related to money or accounting reports. Costs A.) Nonmonetary Assets- Cash value not fixed by contract; Ex. Land. B.) Monetary Assets- Cash value is fixed by contract. Ex. money Fair Value - An amount at which the asset could be exchanged in a present transaction between agreed parties. A.) Liabilities-
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TIME VALUE OF MONEY 1. If you were scheduled to receive Rs 100‚000 five years hence‚ but you wish to sell your contract note for its present value‚ which type of compounding would you rather have the purchaser of your contract note to use to find the purchase price‚ 8 percent compounded: (a) (b) (c) (d) (e) Continuously Quarterly Semi-annually Annually None of the above 2. According to the rule of 69‚ the doubling period is equal to (a) (b) (c) (d) (e) 0.25 + (69/ Interest rate) 0.35 + (69/ Interest
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