Strong internal controls can also help the organization ensure it serves the public better. The results from the paper have demonstrated that internal controls make a significant contribution to NPO, not only in financial performance but also the financial management processes. But organizations are different and will have varying requirements, so, a best internal control is match each different organization with the objectives and resources. The suitable internal controls will help to make the organization safe and efficiency, thus make the good to the people in whole. References: Chris Jeffrey, “Internal Control at Private Companies and Nonprofits.”, Sep 1, 2008, CPA
By working together in regional groups, states can help to protect markets and industries in their region, increase their competitiveness in the global economy and strengthen their hand in global economic forms such as the World trade Organisation (WTO). This translates into “economic security”. The obvious trend towards the intensification of cooperation on intra-regional levels is gaining momentum. After the establishment of the North American Free Trade Agreement (NAFTA) by the USA, Canada and Mexico, the exploration of possibilities for cooperation and interaction between NAFTA and the EU in the form of a Transatlantic Free Trade Area (TAFTA) has intensified. TAFTA supporters point out that the combined US-EU GDP represents 57 per cent of the total world GDP (Barfield, 1998).
If the IMF’s Executive Board did not provide the assistance, it was possible that the global economy would destabilize and adverse effects would be appeared for the Euro. Due to these circumstances, the IMF amended this criterion and permitted exceptional access even if there is not a high probability that the dept is
(2008) have examined in his paper the major elements of the Goldratt's framework - the Theory of Constraints (TOC) - in the banking sector, and examines the factors involved in the decision to adopt the TOC by companies in this sector. Author has done a deep literature review, analyzing similar cases that apply the Goldratt's framework in services and in manufacturing and the several views of its components; Author has focused in formulating a framework specifically for the banking system. The approach of the study is qualitative and Quantitative; the study infers that the main factors that influence the decision to adopt the TOC are the nature and the characteristics of the banking service, the attitude towards change, the leadership and the commitment of the entire institution. They have highlighted in this article, through the location of the constraints and development of practical measurement to facilitate the banking process improvements, banks can improve resource utilization, revenues and employee
Abstract: This draft paper focuses on the use of neo-functionalism to explain the Euro-zone crisis. It explains the factors that led to the crisis and the prominent role of the European Union leaders during the crisis that is to say the steps and measures put in place to ensure quick economic recovery and development. The European Monetary union (EMU) played a crucial role as well by providing the guidelines that brought about some economic reforms and adjustments programs in those countries affected by the Eurozone crisis. The guidelines actually helped those countries to start working on ways to ensure economic growth and reforms. This paper identifies and explain the importance of neo-functionalism towards the European Union Integration.
In order to pay such debts back, Hamilton created the federal bank and convinced the Congress to issue federal bonds. This way the federal government could make interest payments on time, build credit while keeping the inflation from rising. Hamilton thought that the national debt could be a useful tool in order to create capital while letting the American industry to be highly competitive in foreign trade. In his book, Gordon also recalls that soon after the 1812 War the seventh President of the United States paid off the government debts thanks to surpluses deriving from high tariffs. Then, he explains that the introduction of the first Federal income tax in America during the Civil War proved to be decisive in order to investigate how to distribute the tax
Introduction The standards for financial reporting are designed for corporation with global business matters in order to understand and compare the global business needs. These are the rules to be followed by worldwide accountants to maintain books of financial records. In the world of business it is called international financial reporting standards. The debate has been going throughout the last fifty years on whether accounting standards should be rules –based or principle based (Zeff, 2003). The question is whether historical cost accounting or fair value must be used is questioned and for the instant, as Zeff (2007) opinion, fair value is becoming more prominent in the standards of the International Accounting Standards Board (IASB) as well as in the standards of its U.S. counterpart, the Financial Accounting Standards Board (FASB).
The main role of SEC is to ensure that the stock markets operate in such a direction that it will create fair atmosphere for all investors. Goldman Sachs is the global investment banking, securities and investment management firm. Past event- The reasons of great depression, financial crisis 2007 were liquidity shortfall in U.S. banking system and the
1. Dodd-Frank Act: The Dodd-Frank Act which is known in full-form as Dodd-Frank Wall Street Reform and Consumer Protection Act is a type of United States federal law which will define regulation of the financial industry within the perimeter of the federal agencies. The legislation that was defined way back in July 2010, which can avoid the significant financial crisis by defining new financial regulatory methodology which can insist clarity and authorization while defining rules for protecting the financial data of several users. The Dodd-Frank Act is adopted by most of the investment banking organizations across the world. 2.
The FASB Accounting Standards Codification (FASB Codification) is the only source of authoritative GAAP apart from SEC issued rules and regulations that apply only to SEC registrants. The FASB issues an Accounting Standards Update to inform people about changes to the FASB Codification, which includes changes to non-authoritative SEC content. In relation to International Financial Reporting Standards (IFRS), after a new IFRS Standard is issued and before it becomes effective, the International Accounting Standards Board (IASB) helps stakeholders to understand the new Standard's principles very well. The activities of the board promote greater consistency in stakeholders' understanding of new Standards as the practice develops, which supports