Valuation and Investment Analysis Term Paper Example | Topics and Well Written Essays - 750 words

Valuation and Investment Analysis - Term Paper Example Due to the moderate U.S. economy, Best Buy has been tormented by declining deals during the most recent couple of years. Despite the fact that the organization revealed misfortunes of 2.4% for 2012, it was principally because of the buyout of Best Buy Mobile for $1.3 billion. For 2013 the organization announced a 0.5% shortfall, however the organization had the option to record a net benefit of 1.3% in 2014 without precedent for the most recent three years. The organization has been endeavoring to change its working methodology and trim tasks so as to pivot their monetary presentation. In 2012, the organization recruited new CEO and turnaround master Hubert Joly which amended the companys technique, shut down a considerable lot of the less gainful huge box store, extended a significant number of the littler retail location outlets, extended their versatile best purchase store outlets, smoothed out and improved their online activities. In the midst of rivalry from goliath retailers like Amazon.com and Wal-Mart in the shopper hardware business, Best Buy is hoping to divert their technique through acquisi tions and further extending their cell phone business in China and Mexico through their new pursuit of Best Buy Mobile. The company’s new technique for their electronic business includes expanding the all out number of retail locations, while diminishing their general area so as to diminish fixed expenses. The organization looks to improve their on-line incomes and client experience by offering free transportation and increasingly serious evaluating. By dissecting the companys in general monetary execution, budgetary proportions and playing out a valuation examination this paper will decide if Best Buy is a decent long haul speculation. So as to assess the companys future money related execution I should figure the companys development rate and normal rebate rate. The development rate was determined by increasing the arrival on working capital by the degree of consistency. Based

Help Me With My Essay Help!

Help Me With My Essay Help!I want to help you with your essay help and you're trying to figure out what to write. This is a very tough part of the whole process, and there are a number of factors that affect it. For one thing, your choice of topic will greatly affect the essay itself. We'll look at the kinds of subjects that most students choose for their essays.The first, and by far, the most common subject for an essay is that of history. Because the age-old dilemma of who started what and why has not gone away, and there is no shortage of interesting historical facts that you can use to your advantage. Your choice of topic is up to you but remember that historians always have questions and you should be ready to answer them.To give you more essay help, consider writing about religion, world religions, or philosophy. Each of these has its own different challenges. While some topics are more popular than others, in general people find it easier to write about current topics like rel igion and world religions, because their facts are often current and they do not have to try too hard to make their subject come across.Current events are probably the second most popular subject for college students to write about. Unfortunately, the problem is that history is more popular than many people think, and current events are even less appealing. They tend to include the latest wars, problems that have been plaguing humanity for a long time, and the problems of the present.So, what are you supposed to do to help me with your essay help? Answer those questions and you may get to the meat of the matter - your own life story! Try to bring in any tidbits of personal information, and if possible include an anecdote or two that will tie all the events together.You can also use your study habits to your advantage. For example, if you take notes during lectures that take place on location, or if you take notes while you read, then that can be used to help you with your essay help . You will need to research each topic thoroughly, but if you can be selective with what you choose to read about, then you will have a leg up on the rest of the crowd.Of course, some people like to write about current events, and they might be able to use that as a topic. But because people keep on changing so rapidly, unless you are writing about something that has stayed fairly constant, you will have to rely on the world famous expression: When in doubt, stick to the basics.That's really the main objective of the essay; to learn as much as you can about the topic. But sometimes, the only way to do that is to take a look at past history, or at least the parts of history that had a significant impact on the current age. If you have any other suggestions for essay help, or if you need to turn your essay into a paper, then please contact us and we will work with you.

Financial Statements How Does Currency Translation Work

Financial Statements How Does Currency Translation Work If your business entity operates in several countries, chances are you also use different currencies as part of your business operations. But when it comes to reporting your company’s finances through financial statement, you aren’t allowed to use more than one currency.In order to have your financial statements recorded in a single currency, you’ll need to perform currency translation. What does currency translation entail and what are the different methods used in the process? This guide will answer both of those questions and give you tips to avoid common mistakes associated with currency translation in your accounting procedure. © Shutterstock.com | file404In particular in this article, you will learn 1) what is currency translation, 2) why currency translation is needed and used, 3) the three steps of currency translation, 4) how the rates are determined, 5) avoiding the common mistakes, and 6) how to mitigate the risks of currency translation.WHAT IS CURRENCY TRANSLATION?Before we look at the definition of currency translation, it is a good idea to define some of the key terms used in the process. Below is a break down of the three key terms: currency, financial statements and exchange rates.What are currencies?Currency is a generally accepted form of money, which includes both coins as well as paper notes. It is issued by a specific government and circulated within the government’s jurisdiction.Currency is used as the medium of exchange when people deal with goods and services. It is essentially the basis for trade.Most countries of the world have their own currency. Some of the most known official cur rencies and their countries include:The US Dollar â€" United StatesThe Chinese Yuan â€" ChinaThe British Pound â€" the United KingdomWhile most countries in the world use their unique currency, there are some instances where different legislations might use the same currency. A number of European countries, such as France and Germany, use the Euro, for example.Nowadays, there are also currencies, which are not tied to any specific country or monetary union. For example, cryptocurrencies such as bitcoin are an example of these currencies.There are also other currency types, such as branded currencies and local currencies. But currency translation mainly deals with the tradable currencies.What are financial statements?A business, individual or other such entity must keep a formal record of their financial activities. This is often for taxation purposes and these records are called financial statements.The most common financial statements for business include:Income statementsBalance s heetStatements of retained earnings and cash flowCurrency translation might show in all of these statements, although it is most essential for balance sheet reporting.What are exchange rates?Exchange rates are used in order to state the price of a specific currency in another currency. It has two separate components: the domestic currency and the foreign currency.Most exchange rates use the US dollar as the base currency, but the Euro is also often used for this purpose.Exchange rates fluctuate almost daily. It is important to understand this, as currency translation might require you to use a specific exchange rate from the past. You can find out different exchange rates through services such as XE.The definition of currency translationIn short, the definition of currency translation refers to the process of quoting the amount of money in one currency in the denomination of another currency. Companies typically need this process as part of their financial record keeping. Currency t ranslation is often used in balance sheets.Companies, which operate in different countries, tend to have to use different currencies as part of their bookkeeping. For example, a company which is headquartered in the US would mainly use the US dollar in its accounting. But it might also receive part of its revenue from sales in the United Kingdom. These sales would naturally use the British pound.But for accounting, the company has to use only one currency and therefore it needs to translate the British pound into US dollar.Currency translation must be recorded on the company’s balance sheet as an equity account. In some instances, such as in the case of large banks, the translation will be recorded as equity capital. The difference between functional and operation currencyMultinational companies can use different currencies for its operations. These are often referred to as the operational currencies.But for accounting purposes, the company also has to have a functional currency, which is the primary type of money the company uses. Most companies tend to use the currency of the nation they are headquartered as the functional currency. But this is not required and some companies choose to use a different currency â€" usually one that is the most relevant for its operations.WHY IS CURRENCY TRANSLATION NEEDED AND USED?As mentioned above, currency translations help a company create financial statements that feature a single currency. In fact, the governing tax authority often requires companies to only use one denominated currency as part of their recording procedure.While currency translation is typically mandatory process, there are certain benefits to currency translation as well. In the modern world, the multinational company is becoming the norm and even small- and medium-sized businesses tend to have cross-border operations. For these companies, currency translation will be essential.Using a single currency as part of financial statements will make these s tatements easier to read and analyze. It is near impossible to draw rational conclusions from a statement, which features more than one currency.THE THREE STEPS OF CURRENCY TRANSLATIONSo how does currency translation work in reality? In its essence, the process can be defined by three separate steps the company needs to take. These are:Determining the functional currency for the businessRe-measuring the financial statements of the business in the functional currencyRecording the gains and losses on the translation of currenciesTo make sense of each step, lets now look at the process in more detail.Step 1: Determining the functional currencyAs discussed above, companies must pick a functional currency and do all of the financial reporting in this single currency.While the functional currency is most often simply the company where the businesses main headquarters are, there are other ways to decide the functional currency. The other alternative often selects the functional currency ba sed on the currency majority of its operations are conducted.For example, while a company might have its headquarters in Brazil, its main business operations might take place in the US. Instead of using the Brazilian real, the business might choose to make the US dollar its functional currency.The above two ways of picking the functional currency are relatively straightforward. Problems might arise if the company operates in equal measure in separate locations outside of its country of residence. The company will just need to decide the most convenient currency under these circumstances.Furthermore, once a company decides its functional currency it shouldn’t make changes to it, at least not regularly. A change in functional currency should only take place in situations of significant change in economic facts and circumstances.Step 2: Re-measuring the financial statements in the functional currencyOnce the business has denominated its functional currency, it needs to ensure its fin ancial statements only use the selected currency. Instead of recording losses in separate headings for sales in separate currencies, the balance sheet shall feature sales only in the functional currency.Each aspect of the financial statement must be translated into the single currency. This involves calculating the total of the following items:The company’s assets and liabilitiesSpecific items in the income statement:Revenue, expenses, gains and lossesBusiness allocations such as depreciation and amortizationCash flowsFurthermore, it is crucial to keep a close eye on the dates in which any of the above transactions occurred. Currency translation often only occurs at the end of the financial year, but the rates you choose to use are determined by the transaction date in some instances.The following section will deal more on how the actual rates are determined in terms of calculating the currency translation. For now, it is important to note you might need to use the exchange rates from the past as well as present. Therefore, proper bank statements and income records are essential to ensure you use the right rates.Step 3: Recording the gains and losses on the currency translationFinally, currency translation often results in translation adjustments. These adjustments must be recorded on the company’s balance sheet as well. They are mentioned in the equity section of the balance sheet.Furthermore, the translation adjustment also requires the company to record the adjustment in the profit or loss statement of comprehensive income.HOW ARE THE RATES DETERMINED?As you are aware, exchange rates are constantly fluctuating. This fluctuation causes certain difficulties for companies, as they need to account for this in their currency translations.Instead of simply checking the current exchange rate when translating currencies, you might sometimes need to use different rates either for a specific period or even for a specific date.Below is a look at the different rate s companies need to use and the parts of the statement that fall under this specific calculation method:The average rate for the period â€"The average rate for a period refers to a calculated average exchange rate for the specific financial period. This is typically the financial year, as it is the basis for most financial statements. The average rate should be calculated by checking each rate during the period and dividing it by the number of these different rates. The average rate for the period is used for translation currencies for income statement accounts.The ending rate for the period â€" The ending rate for the period is the exchange rate at the end of the financial period. For example, if the financial year ends on December 31, the currency translation would use the exchange rate of this date. Liability and asset accounts use the ending rate for the period for currency translation. Nonetheless, fixed assets are not translated with the ending rate.The original historical rat e at the point of acquiring â€" The original historical rate at the point of acquiring simply uses the exchange rate of the date when the entry was created for the income statements. For example, if the qualifying transaction happened on July 7, even if the financial year ends on December 31, the exchange rate used should be from July 7. Fixed assets are always translated with the historical rate. It must be noted they also won’t be re-translated later on.Finally, you should keep in mind that equity accounts are generally never re-valued.The above rate calculations and methods are largely universal. But different companies might have slight differences as to which transactions should be recorded with which rate. It is a good idea to check with the responsible jurisdiction prior to currency translation to ensure you use the correct rates.AVOIDING THE COMMON MISTAKES IN CURRENCY TRANSLATIONAlthough the guidelines for currency translation have not evolved much in recent years, there are certain mistakes companies continue to make. These mistakes can naturally lead to misstatements in financial reporting and cause damage to the company’s bottom line. Overall, this leads to false statements and thus business results can be different from the real picture.In order to avoid regulatory scrutiny and to ensure your statements are correct, it is a good idea to look at these common mistakes. This way you can learn from them and ensure to avoid falling foul of them with your currency translation.Hiding gains and losses in comprehensive income instead of recognising in net incomeThe first mistake often involves companies misclassifying a foreign currency loss or gain in other comprehensive income instead of net income. This might not sound like a big issue, but it results in incorrect net income and hides the gain or loss in the account, resulting in missed changes in the equity part of the statement.This mistake is most persistent with companies that have an intercompa ny account and this account it recorded on the books of other units with different functional currencies.It is important to keep an eye on your company’s intercompany balance, especially if you have parties which record their specific balance in different currencies.Furthermore, recording the gains or losses in other comprehensive income is not always wrong. In situations where these gains and losses are essentially permanent, the gains and losses will be recorded on other comprehensive income instead of net income.Preparing the consolidated statement of cash flows based on amounts in the consolidated balance sheetWhile the cash flow transactions can be translated by using the average rate for the period, many experts think the statement should use the historical rates for each transaction. The problem arises because accountants often support the indirect method. While this indirect approach can work with smaller companies, it can be dangerous with larger companies with multiple e ntities.The indirect method used the historical average to calculate the cash flow. As mentioned above, you’ll use the average exchange rate for the period for translating the cash flow.But in many instances, this can lead to large-scale errors, as exchange rates can fluctuate quite a bit. Therefore, it is better to avoid using historical averages and instead use the historical rate for the specific transaction across all cash flow calculations.Not recognizing the need to modify accounting for translations in inflationary environmentsCompanies can sometimes end up operating in highly inflationary economies and this adds additional pressure to currency translation. But in many countries, such as the US, the general accounting rules require companies operating in a highly inflationary environment to re-measure as if the functional currency was the reporting currency of the business. This results in translation adjustments and changes slightly how the earnings are reported.A recent e xample of this was the Venezuelan economy, which received a highly inflationary status in 2009. Companies operating in the country would have had to change their reporting method in terms of currency translation, although some initially forgot to do so.HOW TO MITIGATE THE RISKS OF CURRENCY TRANSLATIONIt is possible to mitigate the risk of currency translation through three simple practices. By using the following three methods, you can reduce accounting risks and improve the accuracy of your financial statements.Implement proper accounting policiesFirst, it is essential to create clear accounting policies. This might sound obvious, but for companies operating in several different jurisdictions, this advice is essential. You need to have clear guidelines across the different entities to ensure the accounting practices used are universal across your company.It is especially important to create a proper set of currency translation guidelines. These can guarantee companies to prepare an d adjust to this at the initial phase to make currency translation later much more straightforward.Scrutinize your accountingYou should also check your current accounting procedures and make sure each unit complies with the main accounting procedure of your reporting country. You need to be able to check each individual accounting procedure and backtrack on the information provided with ease.Have appropriate internal controls to detect mistakesAccounting mistakes can happen, but the crucial thing is to limit them as much as possible. You want to create an internal system that acknowledges mistakes, instead of having a tax authority accuse you of reporting errors.The key is to ensure the internal controls focus tightly on the accounts in terms of net income and the currency translation account. This can guarantee your currency translation is a successful one.

Financial Statements How Does Currency Translation Work

Financial Statements How Does Currency Translation Work If your business entity operates in several countries, chances are you also use different currencies as part of your business operations. But when it comes to reporting your company’s finances through financial statement, you aren’t allowed to use more than one currency.In order to have your financial statements recorded in a single currency, you’ll need to perform currency translation. What does currency translation entail and what are the different methods used in the process? This guide will answer both of those questions and give you tips to avoid common mistakes associated with currency translation in your accounting procedure. © Shutterstock.com | file404In particular in this article, you will learn 1) what is currency translation, 2) why currency translation is needed and used, 3) the three steps of currency translation, 4) how the rates are determined, 5) avoiding the common mistakes, and 6) how to mitigate the risks of currency translation.WHAT IS CURRENCY TRANSLATION?Before we look at the definition of currency translation, it is a good idea to define some of the key terms used in the process. Below is a break down of the three key terms: currency, financial statements and exchange rates.What are currencies?Currency is a generally accepted form of money, which includes both coins as well as paper notes. It is issued by a specific government and circulated within the government’s jurisdiction.Currency is used as the medium of exchange when people deal with goods and services. It is essentially the basis for trade.Most countries of the world have their own currency. Some of the most known official cur rencies and their countries include:The US Dollar â€" United StatesThe Chinese Yuan â€" ChinaThe British Pound â€" the United KingdomWhile most countries in the world use their unique currency, there are some instances where different legislations might use the same currency. A number of European countries, such as France and Germany, use the Euro, for example.Nowadays, there are also currencies, which are not tied to any specific country or monetary union. For example, cryptocurrencies such as bitcoin are an example of these currencies.There are also other currency types, such as branded currencies and local currencies. But currency translation mainly deals with the tradable currencies.What are financial statements?A business, individual or other such entity must keep a formal record of their financial activities. This is often for taxation purposes and these records are called financial statements.The most common financial statements for business include:Income statementsBalance s heetStatements of retained earnings and cash flowCurrency translation might show in all of these statements, although it is most essential for balance sheet reporting.What are exchange rates?Exchange rates are used in order to state the price of a specific currency in another currency. It has two separate components: the domestic currency and the foreign currency.Most exchange rates use the US dollar as the base currency, but the Euro is also often used for this purpose.Exchange rates fluctuate almost daily. It is important to understand this, as currency translation might require you to use a specific exchange rate from the past. You can find out different exchange rates through services such as XE.The definition of currency translationIn short, the definition of currency translation refers to the process of quoting the amount of money in one currency in the denomination of another currency. Companies typically need this process as part of their financial record keeping. Currency t ranslation is often used in balance sheets.Companies, which operate in different countries, tend to have to use different currencies as part of their bookkeeping. For example, a company which is headquartered in the US would mainly use the US dollar in its accounting. But it might also receive part of its revenue from sales in the United Kingdom. These sales would naturally use the British pound.But for accounting, the company has to use only one currency and therefore it needs to translate the British pound into US dollar.Currency translation must be recorded on the company’s balance sheet as an equity account. In some instances, such as in the case of large banks, the translation will be recorded as equity capital. The difference between functional and operation currencyMultinational companies can use different currencies for its operations. These are often referred to as the operational currencies.But for accounting purposes, the company also has to have a functional currency, which is the primary type of money the company uses. Most companies tend to use the currency of the nation they are headquartered as the functional currency. But this is not required and some companies choose to use a different currency â€" usually one that is the most relevant for its operations.WHY IS CURRENCY TRANSLATION NEEDED AND USED?As mentioned above, currency translations help a company create financial statements that feature a single currency. In fact, the governing tax authority often requires companies to only use one denominated currency as part of their recording procedure.While currency translation is typically mandatory process, there are certain benefits to currency translation as well. In the modern world, the multinational company is becoming the norm and even small- and medium-sized businesses tend to have cross-border operations. For these companies, currency translation will be essential.Using a single currency as part of financial statements will make these s tatements easier to read and analyze. It is near impossible to draw rational conclusions from a statement, which features more than one currency.THE THREE STEPS OF CURRENCY TRANSLATIONSo how does currency translation work in reality? In its essence, the process can be defined by three separate steps the company needs to take. These are:Determining the functional currency for the businessRe-measuring the financial statements of the business in the functional currencyRecording the gains and losses on the translation of currenciesTo make sense of each step, lets now look at the process in more detail.Step 1: Determining the functional currencyAs discussed above, companies must pick a functional currency and do all of the financial reporting in this single currency.While the functional currency is most often simply the company where the businesses main headquarters are, there are other ways to decide the functional currency. The other alternative often selects the functional currency ba sed on the currency majority of its operations are conducted.For example, while a company might have its headquarters in Brazil, its main business operations might take place in the US. Instead of using the Brazilian real, the business might choose to make the US dollar its functional currency.The above two ways of picking the functional currency are relatively straightforward. Problems might arise if the company operates in equal measure in separate locations outside of its country of residence. The company will just need to decide the most convenient currency under these circumstances.Furthermore, once a company decides its functional currency it shouldn’t make changes to it, at least not regularly. A change in functional currency should only take place in situations of significant change in economic facts and circumstances.Step 2: Re-measuring the financial statements in the functional currencyOnce the business has denominated its functional currency, it needs to ensure its fin ancial statements only use the selected currency. Instead of recording losses in separate headings for sales in separate currencies, the balance sheet shall feature sales only in the functional currency.Each aspect of the financial statement must be translated into the single currency. This involves calculating the total of the following items:The company’s assets and liabilitiesSpecific items in the income statement:Revenue, expenses, gains and lossesBusiness allocations such as depreciation and amortizationCash flowsFurthermore, it is crucial to keep a close eye on the dates in which any of the above transactions occurred. Currency translation often only occurs at the end of the financial year, but the rates you choose to use are determined by the transaction date in some instances.The following section will deal more on how the actual rates are determined in terms of calculating the currency translation. For now, it is important to note you might need to use the exchange rates from the past as well as present. Therefore, proper bank statements and income records are essential to ensure you use the right rates.Step 3: Recording the gains and losses on the currency translationFinally, currency translation often results in translation adjustments. These adjustments must be recorded on the company’s balance sheet as well. They are mentioned in the equity section of the balance sheet.Furthermore, the translation adjustment also requires the company to record the adjustment in the profit or loss statement of comprehensive income.HOW ARE THE RATES DETERMINED?As you are aware, exchange rates are constantly fluctuating. This fluctuation causes certain difficulties for companies, as they need to account for this in their currency translations.Instead of simply checking the current exchange rate when translating currencies, you might sometimes need to use different rates either for a specific period or even for a specific date.Below is a look at the different rate s companies need to use and the parts of the statement that fall under this specific calculation method:The average rate for the period â€"The average rate for a period refers to a calculated average exchange rate for the specific financial period. This is typically the financial year, as it is the basis for most financial statements. The average rate should be calculated by checking each rate during the period and dividing it by the number of these different rates. The average rate for the period is used for translation currencies for income statement accounts.The ending rate for the period â€" The ending rate for the period is the exchange rate at the end of the financial period. For example, if the financial year ends on December 31, the currency translation would use the exchange rate of this date. Liability and asset accounts use the ending rate for the period for currency translation. Nonetheless, fixed assets are not translated with the ending rate.The original historical rat e at the point of acquiring â€" The original historical rate at the point of acquiring simply uses the exchange rate of the date when the entry was created for the income statements. For example, if the qualifying transaction happened on July 7, even if the financial year ends on December 31, the exchange rate used should be from July 7. Fixed assets are always translated with the historical rate. It must be noted they also won’t be re-translated later on.Finally, you should keep in mind that equity accounts are generally never re-valued.The above rate calculations and methods are largely universal. But different companies might have slight differences as to which transactions should be recorded with which rate. It is a good idea to check with the responsible jurisdiction prior to currency translation to ensure you use the correct rates.AVOIDING THE COMMON MISTAKES IN CURRENCY TRANSLATIONAlthough the guidelines for currency translation have not evolved much in recent years, there are certain mistakes companies continue to make. These mistakes can naturally lead to misstatements in financial reporting and cause damage to the company’s bottom line. Overall, this leads to false statements and thus business results can be different from the real picture.In order to avoid regulatory scrutiny and to ensure your statements are correct, it is a good idea to look at these common mistakes. This way you can learn from them and ensure to avoid falling foul of them with your currency translation.Hiding gains and losses in comprehensive income instead of recognising in net incomeThe first mistake often involves companies misclassifying a foreign currency loss or gain in other comprehensive income instead of net income. This might not sound like a big issue, but it results in incorrect net income and hides the gain or loss in the account, resulting in missed changes in the equity part of the statement.This mistake is most persistent with companies that have an intercompa ny account and this account it recorded on the books of other units with different functional currencies.It is important to keep an eye on your company’s intercompany balance, especially if you have parties which record their specific balance in different currencies.Furthermore, recording the gains or losses in other comprehensive income is not always wrong. In situations where these gains and losses are essentially permanent, the gains and losses will be recorded on other comprehensive income instead of net income.Preparing the consolidated statement of cash flows based on amounts in the consolidated balance sheetWhile the cash flow transactions can be translated by using the average rate for the period, many experts think the statement should use the historical rates for each transaction. The problem arises because accountants often support the indirect method. While this indirect approach can work with smaller companies, it can be dangerous with larger companies with multiple e ntities.The indirect method used the historical average to calculate the cash flow. As mentioned above, you’ll use the average exchange rate for the period for translating the cash flow.But in many instances, this can lead to large-scale errors, as exchange rates can fluctuate quite a bit. Therefore, it is better to avoid using historical averages and instead use the historical rate for the specific transaction across all cash flow calculations.Not recognizing the need to modify accounting for translations in inflationary environmentsCompanies can sometimes end up operating in highly inflationary economies and this adds additional pressure to currency translation. But in many countries, such as the US, the general accounting rules require companies operating in a highly inflationary environment to re-measure as if the functional currency was the reporting currency of the business. This results in translation adjustments and changes slightly how the earnings are reported.A recent e xample of this was the Venezuelan economy, which received a highly inflationary status in 2009. Companies operating in the country would have had to change their reporting method in terms of currency translation, although some initially forgot to do so.HOW TO MITIGATE THE RISKS OF CURRENCY TRANSLATIONIt is possible to mitigate the risk of currency translation through three simple practices. By using the following three methods, you can reduce accounting risks and improve the accuracy of your financial statements.Implement proper accounting policiesFirst, it is essential to create clear accounting policies. This might sound obvious, but for companies operating in several different jurisdictions, this advice is essential. You need to have clear guidelines across the different entities to ensure the accounting practices used are universal across your company.It is especially important to create a proper set of currency translation guidelines. These can guarantee companies to prepare an d adjust to this at the initial phase to make currency translation later much more straightforward.Scrutinize your accountingYou should also check your current accounting procedures and make sure each unit complies with the main accounting procedure of your reporting country. You need to be able to check each individual accounting procedure and backtrack on the information provided with ease.Have appropriate internal controls to detect mistakesAccounting mistakes can happen, but the crucial thing is to limit them as much as possible. You want to create an internal system that acknowledges mistakes, instead of having a tax authority accuse you of reporting errors.The key is to ensure the internal controls focus tightly on the accounts in terms of net income and the currency translation account. This can guarantee your currency translation is a successful one.

Fast Fashion An Unethical Way - 2687 Words

Edward Achziger Ethics Pr. Campisi 12/11/14 Fast Fashion: An Unethical Way to Cloth the Greedy While Killing the Needy It is impossible to beat a cheap price. In today’s world, finding a sought after item at a dirt cheap price is one the main motivation American’s get in the car and battle the craziness in the mall. And as the basic American human beings that we are, it is never possible for us to be complacent with the amount of stuff we currently have. Eventually, we will come across a friend that has the next must have item that will cause us to run to our local mall and purchase a similar item at the lowest price possible. With all that said, it is no wonder why the industry of fast fashion has taken off over the past decade. Felipe Caro and Victor Martà ­nez-de-Albà ©niz, researchers for UCLA’s school of supply chain coordination, define fast fashion as â€Å"a business model that combines four elements: (i) fashionable clothes mostly for consumers under 40; (ii) affordable prices in the mid- to-low range; (iii) quick response; and (iv) frequent assortment changes†. Retailers like HM, Forever 21, Target, and Wal-Mart have been able to take this business model and make a fortune. But while all these quick trends and cheap prices are great for the consumer, its cost on the foreign worker and the environment does not go uncovered. In the book Overdressed by Elizabeth Cline, she presents many arguments supporting the claim that fast fashion is unethical based onShow MoreRelatedSpeech On Fast Fashion964 Words   |  4 Pagesdeeper in the world of fast fashion I found out of the vicious cycles that our clothing is manufactured in. B. Relevance: The brands I researched are some many of you have probably heard of. C. Credibility statement: A university of Georgia professor gave an hour-long ted talk talking about her experiences of working and traveling to different countries seeing the fast fashion industry at first hands. She now teaches about fashion sustainability and the cycles of the fast fashion market. D. CentralRead MoreSustainable Style : How Sustainable Practices Can Benefit Everyone1611 Words   |  7 PagesSustainable Style: How Sustainable Practices Can Benefit Everyone Fashion tends to work in cycles, much like the technology industry: every designated cycle, a new innovation on a previous product or new reinvention is revealed to overshadow past generations. In fashion, rather than being met with a new smartphone every year, one is met with new collections twice a year: one for the fall and winter, and another for the spring and summer (i.e.- FW and SS). However, this cyclical behavior tends toRead MoreFashion Counterfeiting1462 Words   |  6 Pagesbut rather how much they will acquire from it. This leads to consumer purchasing fashion counterfeit products which is becoming a rising issue in the United States and Europe. Counterfeiting is an illegal act of producing and selling a replica of an authentic product without the permission of the designer. This market expands from movies, games, money, even medicine to clothes and accessories. Counterfeiting is a fast-growing industry that is a worldwide problem which consumers play a huge role inRea d MoreWhy You Should Know Your Clothes Come From Essay1303 Words   |  6 Pagesa niche sustainable fashion and lifestyle online magazine called Who What Where. It sets out to do just what the title promised by trying to educate readers about the importance of knowing the process by which their clothing is made and distributed. In order to achieve this task the author, Jessica Schiffer, interviewed Maxine Bà ©dat, the co-founder of Zady, an increasingly popular sustainable fashion and lifestyle brand. Together they assessed the current state of fast fashion, the large and franticallyRead MoreThe Rio Grande Valley (Rgv) Is Growing Economically.There998 Words   |  4 PagesValley. As a textiles and apparel major, I’ve learned that the fashion industry is increasing the knowledge about ethically producing clothing that is also eco-friendly. The fashion industry is increasing the awareness about the negative impact fast fashion (ex. Forever 21, American Apparel, etc) has. The fashion industry in the second most polluting industry and fast fashion companies are known to practice unfair and unethical labor policies. Such awareness has been made possible by the technologyRead MoreWomen s Physical And Outer Appearance1214 Words   |  5 Pagesthe media. It is seen in Hollywood movies, beauty magazines and even marketing advertisements. Since a young age, our generation has been influenced by what the perfect body should look like. It is implanted in our minds that we should look a certain way without even realizing it. Therefore, the media has a direct effect on how the general public views what is and what isn’t acceptable in regard to the standard of perfect physical attractiveness. By establishing unattainable standards of beauty andRead MoreEthical Guidelines For The Marketing Industry1562 Words   |  7 PagesWhen it comes down to ethical guidelines it is pertinent that every industry have them. However, when consumers think of the marketing industry, they tend to think those are the most unethical people participating in those jobs. Marketing too has some ethical guidelines, but to what extent are they being followed to have consumers thinking otherwise? Marketing is supposed to make honest claims and satisfy the needs and wants of the customers. It is supposed to develop brand loyalty, to in turn increaseRead MoreThe Impact Of Fast Fashion On Business Environment2039 Words   |  9 Pagescorporations acting in a global surrounding (Douglas Wind, 1987). In the fashion industry, the business environment is especially competitive and firms have to adjust their business practices rapidly such as products and launching ti me of each collection on the basis of the demand of current market (Lowson, King Hunter, 1999). Companies in the fashion industry like ZARA, Topshop and HM have emerged a new trend — â€Å"fast fashion† that combines two main characteristics: short lead times and trendy designRead MoreThe Downfalls of Topshop1059 Words   |  4 PagesWeaknesses Production Facilities Topshop is among many companies around the globe that uses cheap labour, or as many people call it, â€Å"slave labour†, to produce the items being sold in their stores. The use of unethical labour can cast an unfavorable company image, which in turn may cause customers to shop elsewhere. Product-Line/Store Management Topshop is a large company, with numerous product lines and extensive staffing requirements. This contributes to high management costs. NarrowRead MoreAn Ethical Code Of Conduct For Marketing1130 Words   |  5 Pagesadvertised, especially in the case of children and of health products. The advertisements happen to ruin family budgets which eventually may cause families to break as well. An act or a campaign promoting such behaviors is most definitely unethical and should be dealt in a way every other ethically challenged matter is taken care of. To resolve the dilemma of persuasive marketing, a simple three step procedure shall be implemented: defining an ethical code of conduct for marketing, setting up a review committee

A Substance Abuse Recovery Home - 1498 Words

The need for a substance abuse recovery home in Starke County, Indiana is a need that is unmistakable in the county based on the hefty number of individuals that suffer from substance abuse and dependency in the county which is clearly displayed by the recent number of crimes that are related to or involve illicit and prescription drugs. In attempt to meet this need and create an opportunity for individuals suffering from substance abuse and dependency to receive local substance abuse treatment in a recovery home the proposal will be presented to several stakeholders within the Starke County community. The term stakeholder â€Å"refers to those people who are affected, or could be affected, by the service† (Canadian Career Development Foundation, n.d.) that is being proposed. The proposal for the creation of a substance abuse recovery home will be presented to five key stakeholders including Ms. Becky Anspach the director of Community Services of Starke County, Starke County C ommunity Corrections director of operations Mr. Robert Hinojosa, Ms. Dee Lynch the director of the Indiana Department of Child Services of Starke County, Porter Starke Services facilitator of intensive outpatient program treatment (IOP), and Ms. Rhonda Adcock the director of Starke County CASA. The director of Community Services of Starke County, Ms. Becky Anspach, completes family assessments then assists low-income families with meeting their basic needs on a daily basis. Community Services of StarkeShow MoreRelatedThe Goals And Objectives Of The Hope House1134 Words   |  5 Pagesthat are needed to accomplish each objective that is defined (Kirst-Ashman Hall, Jr., 2015). 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Although it has recently been announced that addiction is a brain disorder rather than a behavioral issue, there is still argument that drug use is a choice and not a disease. I want to contribute to the substance abuse population because I feel the stigma that surrounds recovering addicts does not accurately portray the strength and positivity that comes from the recovery process. I want to be a part of empowering theseRead MoreSubstance Abuse Is A Brain Disease766 Words   |  4 PagesFindings Substance Abuse is a brain disease While the choice to use alcohol and drugs is initially voluntary, alcohol and/or drug addiction arises because the normal functioning of the brain is impaired so that alcoholism and drug addiction become a â€Å"chronic relapsing disease of the brain† (National Institute of Drug Abuse, Drugs, Brains and Behavior. The Science of Addiction. 2014, 5). 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Rehabilitation provides three unique characteristics to enhance the opportunity for a successful recovery. Treatment is away from: 1. Home. 2. Access to drugs. 3. Contact with active substance abusers. The advantages of receiving intensive treatment away from home and without access to drugs and active drug abusers are

Gun Violence in America Research Paper Free Essays

Since 1982, at least sixty-two mass shootings have occurred, thirty-two of them since 2006. (Aronsen). Jared Loughner was sentenced to life in prison after shooting nineteen people in January of 2011. We will write a custom essay sample on Gun Violence in America Research Paper or any similar topic only for you Order Now Last July, fifty-eight people were shot and twelve killed while watching the new Batman movie in a theater in Colorado. In December, twenty-six people were murdered, including twenty first-graders, in a Connecticut elementary school (Follman). The issue of gun violence only becomes relevant after a horrific event such as these, then fades from public concern after about two weeks. The number of injuries and murders using guns in the United States is a large number, which can hopefully be lowered by implementing statewide, or even nationwide gun buyback programs, stricter carrying permit laws, and making it harder for the mentally unstable and convicted felons to legally obtain guns. HISTORY/BACKGROUND The argument for or against gun control has been an ongoing battle since the beginning of the nation. The Second Amendment gives people the â€Å"right to bear arms. † When arguing for this Amendment, the factor that is not considered is that it was made so one could protect their person in case of an emergency. There was no police force when this law was created; therefore it was almost every man for himself, the people protected themselves. Now the police force is incredibly large, and is always patrolling the streets to make sure all is well and everyone is safe. Carrying a small handgun in one’s car is reasonable, but is keeping ten different models of machine guns and semi-automatic rifles at home just for fun? PRODUCTION/OWNERSHIP Every year, eight million small firearms and ten to fifteen billion rounds of ammunition are manufactured worldwide. Over eight hundred and seventy-five million firearms are in possession in the world, and 75% belong to the people (Alpers). In the United States, approximately 6. 1 million guns are produced each year and there is a ratio of 89 guns to every 100 people (â€Å"Firearms Death Rate per 100,000 by State, statehealthfacts. org†). According to a Gallup poll, the majority of gun owners possess guns for three main purposes: 67% for self-defense, 66% for target shooting, and 62% for hunting (Velasco). If one decides to own guns, they should be kept locked up safely in a private place, so there is not easy access for children in the household or someone incapable of properly operating a firearm. ARMED FELONS/MENTALLY UNSTABLE In 2005, Erik Zettergren shot Jason Robinson in the head for attempting to have sex with his wife. He then forced Robinson’s fiancà ©e to assist him in dragging his dead body to the river for disposal. Zettergren was a man with a history of mental health problems, and was a convicted felon who had his rights to possess a gun barred. Two months before the murder, a judge reinstated his rights without even holding a hearing (Luo). Felons commit 90% of all gun crimes, yet most of their rights are given back with little or no review. Juveniles and the mentally unbalanced primarily carry out the remainder of the crimes (Kates Jr. ). A German Neurologist claims he has found the â€Å"dark patch† of killer’s brains that is associated with wicked behavior. He classifies these people into three groups. The first he classifies as ‘psychologically healthy,’ people who grow up in an environment where it is ‘OK to beat, steal and murder’. The second type is the mentally disturbed criminal who looks at his world as threatening. The third group is pure psychopaths, a group in which tyrants such as Hitler and Stalin belong. (Hall) WILL IT SOLVE ANYTHING? Over thirty-eight thousand people use guns to commit suicide each year. If the guns are taken away from them, they will just find another way to kill themselves. Suicide is a problem that can’t really be solved. On the other hand, guns are also used to kill over eleven thousand people a year (Becker). Again, if the guns are taken away, murderers will find other methods to kill, but if they aren’t using guns, there hopefully won’t be as many deaths. If a man goes into a building with a gun, he can kill an almost unlimited number of people, but if he only has a knife, for example, it’s going to take a lot longer to kill that many people by the time help arrives. ANTI-GUN ORGANIZATIONS One of the most famous anti-gun organizations is the Brady Campaign, established in 1974, which has played a major role in the control of guns. Their main goal is to make it more difficult for convicted felons, the mentally unstable, and other such people to obtain guns (â€Å"About Us: History of the Brady Campaign†). They presented the Brady Act, passed in 1993, which would â€Å"impose a waiting period of up to five days for the purchase of a handgun, and subjects purchasers to a background check† (â€Å"Brady Act†). Since the imposition of this act, over one hundred million background checks have been conducted, and more than seven hundred thousand attempted purchases have been denied (â€Å"National Instant Criminal Background Check System†). Another major group is the Coalition to Stop Gun Violence, or the CSGV. Their mission statement is â€Å"The Coalition to Stop Gun Violence seeks to secure freedom from gun violence through research, strategic engagement and effective policy advocacy. † They are composed of forty-seven national organizations, including religious and social justice organizations, child welfare advocates, and public health professionals. This diversity allows them to reach a wide variety of grassroots in the world (â€Å"About Us – Coalition to Stop Gun Violence†). CONCLUSION If people like teachers had carrying permits, they could keep a gun locked up in the classroom, so if a person with a gun comes bursting through the door and threatens to shoot people, or does shoot someone, the teacher can run to grab the gun, and protect the lives of all the children and him/herself. Through further investigation, it has been found that the gun murder rate can be lowered through proper enforcement of carrying permit laws, better help for the mentally unbalanced, and increased gun buybacks. How to cite Gun Violence in America Research Paper, Essays