Business Is All About Money - 1216 Words

Executive Summary Business is all about money. All the activities done to run a business is to earn profits. It is an economic activity. Be it a small business or big, it is important for an entrepreneur to have an idea in mind as well as on papers too. When idea is in mind it is easy to assume that it is great and can be turned into a successful business. But that is not the case, when an entrepreneur sits to write up the business plan i.e. what is the vision and mission of the business, what are its objectives, what are the critical success factors and how those factors would be worked out, then the real picture pops out. While writing the business plan, entrepreneur can analyse how good the idea is, whether it can be converted into the product that customer wants and whether it will make profits. In this study I have researched about whether my idea of running a healthy soup salad and juice cafà © in Auckland can be a successful business or not. I have researched about the current market, growth potential, which customers can be targeted, how the marketing can be done, what can be the differentiation or competitive advantage, what kind of staff or skills would be required, who can be the suppliers, what kind of further research would be required once the business starts, how much time it would be required to launch the cafà ©, who are the current competitors and what services are they providing, how the financial requirement would look like, whether I have that much moneyShow MoreRelatedMaking Money Online Is Good Or Bad? Essay1582 Words   |  7 PagesThe idea of making money online is attractive to many, primarily because of the benefits it offers. Making money online is thought to be a hoax to some people, i can assure you it s not as i am living breathing proof of. How ever I would like to add to all this by saying that making money online is not something that happens miraculously. Making money online is not a quick fix or get rich quick scheme as certain very unethical people will tell you .However making money online is possible andRead MoreThe Effects of the Economy On Business Administration Essay examples933 Words   |  4 PagesEffects of the Economy On Business Administration The career I choose to pursue is the career of Business Administration. This career consists of running a small or big business and being able to run it and be capable of making small or very important decisions. A business runs and depends on the people and how people spend their money. If people spend their money responsibly and they know how to administrate their money and will make the economy to be stable and be good. As we all know, the economy hasRead MoreBusiness for the Glory of God1318 Words   |  6 PagesRunning head: THE BIBLE’S TEACHING ON THE MORAL GOODNESS OF BUSINESS Business for the Glory of God: The Bible’s Teachings on the Moral Goodness of Business A Review Assignment Write a 5-7 page review, you should briefly articulate the author’s main positions or themes and then interact with them. That is, choose one or two main points that you agree with and/or two in which you do not agree, supporting your thoughts with well-reasoned arguments. Jessica N. Eppes Liberty University ProfessorRead MoreB120 Tma03 Essay1292 Words   |  6 PagesProfit and Loss account A profit and loss account is intended to show a business its income and expenditures and calculate the company’s net profit or loss based upon the difference between those figures. It is extremely useful in determining past performance and to try and predict future results. It enables a business to see what changes could make to improve on its profit. It also give enough information to help a business to set targets. We can learn more from the statement. As it shows theRead MoreA Career as an Entrepreneur Essay example1667 Words   |  7 PagesBusiness has been a large part of my family, and has started to grow on me. My dad worked in sales for many years, and is now the President of a company in Staples. My mom started her own cleaning business, and now works for herself, as well as my uncle owns a golf course, and a pump and well business. My other uncle has his own handy man business, while one of my aunts operates a redimix and construction company . So I guess it could be said, business is kind of in by blood. What I know WhenRead MoreB120 tma031109 Words   |  5 Pagescalculate the company’s net profit or loss based on the difference between those numbers. It is really useful in determining past performance and to try to predict future results. It allows a business to see what kind of changes can make an improvement on its profit. It also gives enough information to help a business to set targets and form a strategy. We can learn more from the statement. As it shows the expenses so we can see where the largest expenses are, this can be used to find out the immediateRead MoreRaising Capital For Any Startup1324 Words   |  6 Pagesinvest in a business idea that is not easy for some entrepreneurs. Applying for secured personal loan or even a loan without collateral is not promising to anyone too. So, if you are looking for a business loan without collateral, you have to understand that getting a small business loan without collateral is certainly tough in today’s economy. That’s why you find a lot of searches on internet about â€Å"how to get loan without collateral† and it is commonly asked by many people from all parts of theRead MoreBusiness For The Glory Of God1506 Words   |  7 PagesBusiness for the Glory of God is a book that helps Christians work in Business for God. Wayne Grudem did an excellent job of sharing and providing the purpose and meaning of business and ways to glorify God while conducting said business. The main themes Grudem talks about include; ownership, productivity, employment, commercial transactions, profit, money, inequality of possessions, competition, borrowing and lending, attitudes of the heart and the effect on world poverty. He kept his thoughts shortRead MoreBusiness Case Study1617 Words   |  7 Pagescosts,which might not be enough money because,they will need a building and computers of there own.So they could get a bank loan and have to pay off their debt or they can get a 4th partner who will b e a limited partner and just pump money into the business.An issue might be that they are all friends and friendships can cause issues for the business,which could result in the bankruptcy for the business. (B)So i think partnership would make the most sense because they all have skills that the other peopleRead MoreRich Dad Poor Dad Summary1378 Words   |  6 Pagesso important. It also introduces the fact that you need not to earn high to become rich. This book is meant for those people who don’t have or have little knowledge about finance and investment. This will help them to learn the basic rules of investing alongwith financial education. Robert Kyosaki, the author of this book tells about his learnings from two role models, one, his own dad who is poor and other his friend’s dad, who is one of the richest people in Hawaii. The author has learnt different

Essay on Atzheimer´s Dementia Posterior Cortical Atrophy

This essay will discuss the form of Alzheimer’s dementia Posterior Cortical Atrophy, from the aspects of the journey by Sir Terry Pratchett. In addition the essay will discuss symptoms of the disease, pathology, and anatomical structures and locations. Sir Terry Pratchett (Pratchett, 2013) has opened a discussion about dementia due to his diagnosis of Posterior Cortical Atrophy (PCA). PCA is a type of condition associated with Alzheimer’s disease (AD) that affects the parietal and occipital lobes damaging how the brain is able to process and understand visual information. This deterioration of visual processing can impact the person with PCA, in how the person can perform daily tasks such as reading, driving or even walking in certain†¦show more content†¦The occipital lobe is in a posterior position and the function of the occipital lobe is vision including perception and colour and movement (Stannard Gromisch, 2012). Atrophy is described as a process of tissue wastage or cell death (Lippincott Williams Wilkins, 2006). According to (Jones Gaillard, 2005-2013) the pathology of PCA includes Neuritic plagues and neurofibrillary tangles which are found in the parieto-occipital and temporo-occipital areas, as well as occasionally in the primary visual cortex. It is thought that PCA is a version of AD, with very little difference in the pathology. â€Å"Neuritic plagues or senile plagues are extracellular and composed of a central core of beta-amyloid peptides aggregated together with fibrils of beta-amyloid, dystrophic neurites, reactive astrocytes, phagocytic cells, and other proteins and protein fragments derived from degenerating cells or liberated from neurons† (Weerakkody Gaillard, 2005-2013). In addition PCA is identified by a significant concentration of plagues and neurofibrillary tangles (NFT) in the occipital lobe and the parietal lobe as well as the connection known as the occipitotemporal junction ( Tsunoda, et al., 2011). The author’s go on to explain that they hypothesise that PCA is connected to AD, dementia with Lewy bodies (DLB), corticobasal degeneration (CBD)

Economics Problems Free Essays

Homework #3: Question 1. Problem and Application 4 on page 285. Please work on a, b, c, d, and e only. We will write a custom essay sample on Economics Problems or any similar topic only for you Order Now That is, ignore f. When you reconstruct the table in your work, please lower the space for Marginal Product and Marginal Cost by a half step. In other words, the first entries of Marginal Product and Marginal Cost should be aligned with the second entries of other columns. (50 points) Table of Costs: WorkerOutputMarginal Product Total CostAverage Total CostMarginal Cost 00–$200———– 12020 300$15. 00$5. 00 25030 400 8 3. 33 39040 500 5. 6 2. 50 412030 600 5 3. 33 514020 700 5 5 615010 800 5. 33 10 71555 900 5. 81 20 A. The table shows the marginal product; marginal product rises at first, but then starts to decline because of diminishing marginal product. B. The table shows the total costs for this scenario. C. Again, the table shows the average total cost. The average total cost will be shaped like a â€Å"U. † The average total cost declines as quantity rises when the quantity is low. When the quantity is high, the average total cost rises. D. The table shows the marginal cost. The marginal cost, like the average total cost, is also â€Å"U† shaped, but unlike the average total cost it rises steeply as the output increases. This is because of diminishing marginal product. E. When the marginal cost is falling, the marginal product is rising and vice versa. Question 2. (20 points) The licorice industry is competitive. Each firm produces 2 million strings of licorice per year. The strings have an average total cost of $0. 20 each, and they sell for $0. 30. a. What is the marginal cost of a string? Marginal cost = Change in total cost/change in quantity .30-. 20=. 0=Change in total cost .10/1=. 10 The marginal cost of one string is $0. 10. b. Is this industry in long-run equilibrium? Why or why not? No. In a long run quilibirum all firms are maximizing profits. No firms have incentive to enter or exit because all firms are earning zero economic profit. The firms in this competitive market are making a profit of $0. 10 on each string of licorice. At this rate there is no long-run equilibrium, but if more firms join this market to get in on some of the profit then there will be a long-run equilibrium; when too many firms join the market the demand goes down. This can cause firms to make zero profit. Question 3. (30 points) Consider the following table. The price of the product is $8. Quatitity Total cost 0. $8 1. 9 2. 10 3. 11 4. 13 5. 19 6. 27 7. 37 a. Calculate profit for each quantity. How much should the firm produce to maximize profit? b. Calculate marginal revenue and marginal cost for each quantity. Graph them. At what quantity do these curves cross? How does this relate to your answer to part (a)? c. Can you tell whether this firm is in a competitive industry? If so, can you tell whether the industry is in a long-run equilibrium? How to cite Economics Problems, Papers

Auditing Practice Financial Accountability

Question: Discuss about theAuditing Practice for Financial Accountability. Answer: Introduction: The process of an audit was relied upon for many years, but the relevant practice of auditing comes into existence for a very short period. The methods have been adopted at the time of Industrial Revolution. Now the firms became aware of the need for fraud detection, financial accountability, etc. in the business. On the other hand, Control compliance becomes a much larger problem because of an established flexible and widely applicable control structures which often entail a colossal number of checks For these reasons it may be temporarily re-parameterized which generated the need and assurance for auditing in the firm.(audit analytics looking towards future). On the other hand, Zhang et al. (2012) discussed the fact that the methods of an audit are at risk of becoming less relevant if they do not change accordingly to meet the needs of stakeholder, especially for timeliness and scope. In this context a question rose by a very well-known author on the basis that whether the business is performing an audit or function of management if the group reviews analysis and gives their decision on the matter of the firm (Elder et al. 2013)? According to Kozlovski and Vasarhelyi (2014), large audit databases aimed about the validation of daily feeds. In the given case, Barry and Betty have three children. Robert and Chan were holding 20% shares of the company and Jane holds 40% shares. The reason behind is that she has a degree in management moreover she is associated with the daily work of the enterprise. In the first company meeting, she has informed the shareholders about the conversion of the business. Earlier the company was governed under the partnership act but now due to conversion, it is regulated under the corporation law. For this, the company has to make certain changes in their management. This report furnishes all the necessary information regarding the relevant changes. Nature of Auditing: It is helpful in locating the errors of the fraud. It detects and rectifies the mistakes. It boosts the morale of the staff. It is necessary for taxation purpose. The main aim behind this is to produce a reliable source of audit practice for smaller companies. It can be suspected that error and fraud detection has remained a paramount objective (Chandler and Edwards 2013). According to the queries of the shareholders of the company the audit report furnishes the following information: Process of Auditing: The Proper audit process is to be done in a systemized manner so that correct view of the financial condition of the firm can be ascertained. It needs proper planning related to announcement letters, meetings, audit program, etc. As we know that planning is the foremost step in any organization. Each person should make a proper plan so that he can work on it accordingly. In any business organization, proper planning is needed so that the other members of the company can work accordingly and gets up to date information about the enterprise. Moreover, it helps the auditor to notify the needs of the client (Christensen, Glover and Wolfe 2014). The next step is to do proper fieldwork: -proper fieldwork is required in case of preparing working papers, audit summary, etc. Working papers are those documents which includes all the relevant evidence related to the review. It is used by the management so that they can have an idea that the reports were planned and carried out correctly. Another step is to prepare Audit report: -it includes the draft of the meeting, response of clients, comments on customers, final report, etc. The report should be completed within 30 days after the completion of fieldwork. The last and final step is to prepare follow-up: - this includes the review and report of monitoring, audited annual report of the board, etc (Christensen, Glover and Wood 2012). Who could be the Auditor? As per the requirement of the act the person who makes an application to ASIC after fulfilling certain necessities. In the given case the company has to submit its registration report under the board before acting as an auditor. Hence, as per the statement, the firm can act as an auditor for the company BB Ltd (Asic.gov.au 2016). Would it be wise to allow a third party (the auditor) access to their confidential business information? Yes, an auditor can do so with the permission of the client to access on their financial statements or any confidential business information. The auditor helps the company by giving true and fair views of the financial accounts. What if they do not have the Accounts Audited? As per Australian law, it is not mandatory for a company to furnish audit report but the directors still felt the need of maintaining audited accounts of their business (Randtke and Detweiler. 2012). They can identify their weakness in accounting system easily and can work for the improvement. It also helps in locating fraud in the company. Now the management has full report about the directors day-to-day workings. Can Jane do the Audit Herself? The section 307 of the Corporation Act 2001 defines Audit as the opinion formed by the auditor whether the financial report are prepared in accordance with this act and accounting standards. The section 307A of the act requires that if an individual auditor or audit company is conducting audit then it should be conducted in accordance with the auditing standards. The section 324CD of the Corporation Act 2001 states out the conflict of interest situations. In the section 324CD (2) of the corporation act 2001 it is clearly stated if there exists a relationship between the auditor and the audited body then it will considered as conflict of interest. The relevant relationship if the audited body is a company includes that the auditor has relationship with the company, or the auditor is a current or former director of the company, or if the person is currently or formerly involved with the management of the company. The law therefore states that if the following condition exists then the person cannot be the auditor of the company. In the given case, Jane is a shareholder and is involved in the management of the company so it can be concluded according to the relevant provisions of the companies act that Jane cannot be the auditor of the company. Conclusion: Being the manager of the reputed audit firm of the city after analyzing all the documents and from the details furnish by the company it can be said that the association BB co.ltd has furnished all the answers of the queries arose by their shareholders and members in a very relevant manner as prescribed by the law. When the company pays a high dividend to their members than the irregularities of account cannot be noticed but when the revenue declines internal cost are scrutinized more diligently. Therefore, from the above mentioned definition we can understand that the term audit gives us a systemized knowledge of the subject The Company can fill the tender bid with its name after filing all the documents of the company. The company has conducted meeting regarding the conversion and the members of the board are agreed for it. The company has no criminal records or any infringement records in the past. The company has to maintain certain working papers in the future also than only the company can run its business smoothly and soundly. Hence, the company BB can act as a corporate in the near future. References: Badolato, P.G., Donelson, D.C. and Ege, M., 2014. Audit committee financial expertise and earnings management: The role of status.Journal of Accounting and Economics,58(2), pp.208-230. Chandler, R.A. and Edwards, J.R., 2013.British Audit Practice 1884-1900 (RLE Accounting): A Case Law Perspective. Routledge Christensen, B.E., Glover, S.M. and Wolfe, C.J., 2014. Do critical audit matter paragraphs in the audit report change nonprofessional investors' decision to invest?.Auditing: A Journal of Practice Theory,33(4), pp.71-93. Christensen, B.E., Glover, S.M. and Wood, D.A., 2012. Extreme estimation uncertainty in fair value estimates Implications for audit assurance.Auditing: A Journal of Practice Theory,31(1), pp.127-146. Davis, R.E., 2012. The Case for Continuous Auditing of Management Information Systems. Eilifsen, A., Messier, W.F., Glover, S.M. and Prawitt, D.F., 2013.Auditing and assurance services. McGraw-Hill. Elder, R.J., Akresh, A.D., Glover, S.M., Higgs, J.L. and Liljegren, J., 2013. Audit sampling research: A synthesis and implications for future studies.Auditing: A Journal of Practice Theory,32(sp1), pp.99-129. Erkens, D.H. and Bonner, S.E., 2012. The role of firm status in appointments of accounting financial experts to audit committees.The Accounting Review,88(1), pp.107-136. Guidance Statement GS 011 Third Party Access to Audit Working Papers GS 011 - 1 - Guidance StatementIssued by the Auditing and Assurance Standards Board Messier Jr, W., 2016.Auditing assurance services: A systematic approach. McGraw-Hill Higher Education. Rubric, O., 2015.The application of analytical procedures in the audit process(Doctoral dissertation, University of Pretoria. Asic.gov.au. (2016).Applying for auditor or authorised audit company registration |Asic.gov.au. (2016).Applying for auditor or authorised audit company registration | ASIC - Australian Securities and Investments Commission. [online] Available at: https://asic.gov.au/for-finance-professionals/company-auditors/applying-for-auditor-or-authorised-audit-company-registration/ [Accessed 17 Aug. 2016].