Amazon - 2016 Words

Amazon.com, Inc. Table of Contents Executive Summary 2 Introduction 3 History 3 Mission Strategy 3 Organizational Culture 4 Hiring, Performance Management Compensation Strategy 5 Leadership Role 6 Current Challenges 7 Identification of the Problem 7 Recommendations 8 I. EXECUTIVE SUMMARY: II. INTRODUCTION: Amazon.com, Inc. is an American international electronic commerce company with headquarters in Seattle, Washington, United States. It is the world’s largest internet company, based on revenue ($74.4 billion as of 2013) and number of employees (132,600 as of June 2014). History: The company was founded in 1994, after Bezos left his employment†¦show more content†¦Amazon will only hire a new employee when demand necessitates it, ensuring that no capital is wasted on inefficient or unnecessary laborv. In order to maximize the efficiency of their workers, Amazon hires the most intelligent, resourceful problem-solvers possible. Amazon employees, though often overextended and overwhelmed by work, are impressed and empowered by the level of intellect within their coworkers. Additionally, Bezos intentionally built Amazon’s cultural leadership to be somewhat decentralized and as free of bureaucracy as possible to allow for flexibility and rapid implementation of new ideas.vi With nearly three-quarters of their workforce employed at regional distribution centersvii, Amazon’s warehouse culture mirrors it corporate partner’s efficiency-first mentality. In protecting Amazon’s goals to deliver customers products as quickly as possible, warehouse workers are constantly reviewed and judged based on timing metrics associated with their ability to retrieve and bundle orders. Intelligent and dedicated employees are key to Amazon’s corporate culture, which highlights two additional concepts detailed in Amazon’s â€Å"14 Leadership Principles†: ownership and hiring/developing the best talent. Success as the Internet’s leading consumer products vendor requires that the employees at Amazon â€Å"buy in† and feel a sense of ownership and responsibility to the company. The challenge Amazon faces is finding employees who embodyShow MoreRelatedProject Report On Amazon s Amazon 1335 Words   |  6 PagesAmazon does not reveal much about its showcasing strategies in its yearly reports, however there weavers be an emphasis on web based advertising channels according to its most recent yearly report. Their different activities incorporate outside and TV publicizing, however they are not said particularly. As of late, they have been contributing intensely on open air and TV publicizing. In an announcement in their yearly report the y likewise reference point towards the significance of client reliabilityRead MoreAmazon Kindle And The Amazon836 Words   |  4 PagesSince 1994, when Amazon began, Jeff Bezos has been known for thinking outside of the box and looking for new and innovative ways to grow Amazon by bringing different technologies and services to their millions of customers. When discussing being influenced by other companies, Bezos once said, â€Å"You want to look at it and say, ‘That’s very interesting. What can we be inspired to do as a result of that?’ And then put your own unique twist on it† (Lashinsky, 2012). Bezos strives to bring products andRead MoreAmazon Forests : The Amazon Rainforest1577 Words   |  7 Pagesacres, the Amazon rainforest stands as an amazing wonder in the world. The majority of the Amazon rainforest lies in Brazil, but also is found in Bolivia, Ecuador, Peru, Colombia, Venezuela, Suriname, French Guiana, and Guiana. Covering such a vast amo unt of land makes this region one of the most diverse ecological habitats in the word, but, while recognized as a priceless jewel of nature and a key factor in the global climate control, greed and selfishness are quickly destroying the Amazon RainforestRead MoreAmazon Kindle Case Analysis : Amazon1699 Words   |  7 Pages â€Æ' Amazon Kindle Case Analysis Amazon is a leading e-commerce company in the US as well as in many other countries. Right from its inception in 1999, it has projected an image of a company that is driven by innovation, and one which constantly works towards improving customer experience. After establishing its presence in the e-commerce market, Amazon diversified itself to include several products and services. The products discussed in this case, Kindle e-readers and Kindle Fire Tablets are examplesRead MoreAmazon Analysis : Amazon Fire Smartphones2395 Words   |  10 Pagesshare (Statistica 2013); Amazon Fire smartphones; various games through Amazon Game Studios as well as providing a video streaming service similar to that of Netflix. The Seattle based company also implements vast amounts of information technologies within its processes and operations, from its products through to how it provides its services. Its e-readers and smart phones are prime examples of the information technology used by the company, however as of December 2014, Amazon has implemented robotRead MoreSwot Analysis Of Amazon1442 Words   |  6 PagesAmazon, founded in 1994 by Jeff Bezos in Seattle, Washington. Jeff’s launch of an online bookstore quickly revolved into the selling of clothing, electronics, video games, auto, beauty and health, just about anything you need, thus, making online shopping popular. Jeff launch Amazon out of his home garage, selling books in all 50 states and 45 different countries within its first month. But the name Amazon was not Bezos first or second choice for the organization, but settle on this name becauseRead MoreAmazon : An Overview Of Amazon And Its Stakeholders1346 Words   |  6 PagesAn Overview of Amazon and Its’ Stakeholders Amazon Web Services is a cloud computing platform which was to provide online services to websites (Rouse, 2014). Amazon is comprised of software development and customer service centers around the world (Rouse, 2014). At Amazon, workers are encouraged to tear apart one another’s ideas in meetings, toil long and late and held to unreasonably high standards (Kantor Streitfeld, 2015). Amazon is the world’s largest online retailer that was launched inRead MoreSimple Ways Of Save On Amazon2498 Words   |  10 PagesSimple Ways To Save On Amazon Wouldn t it be nice if there were a multitude of easy-to-accomplish suggestions for saving a ton of money when you shop through Amazon? As it turns out, the industry-leading online retailer employs dozens of ways to bring the savings to their customers, but many of these methods are often overlooked by those who lack either the knowledge of the deals or the time to search for them manually. In order to help you discover your true saving potential, we ve outlined aRead MoreAmazon Essay1009 Words   |  5 PagesNguyen Quoc Khanh BUS 103 Case 3: Amazon: One E- Store to Rule Them All. 1. In what way does Bezos’s decision to develop and deliver the Kindle show systematic and intuitive thinking? First, Bezos has shown his intuitive thinking in the decision of unveiling Amazon Kindle, a new device that is completely outside Apple’s catalog though Amazon still sold Apple’s iPod. Furthermore, he introduced to Medias his product, it seemed like a declaration to Apple. Because Apple is a giant of technologicalRead MoreMythology : Mythology Of The Fierce Amazons2071 Words   |  9 Pagesthe Greek legend of the fierce Amazons. The Amazons were ferocious women warriors. They were wild women who resided on the fringes of the known world under the rules of a matriarchy. They didn t marry, and often used men before murdering them. It was reputed that they removed the right breast from young girls to help facilitate archery. They mated randomly and only raised the healthy female offspring, males were either killed at birth or made into slaves. The Amazons were an Athenian male s worst

Physician Assisted Suicide Is A Controversial Topic

Physician-assisted suicide is something is always a controversial topic to discuss with anyone. There are some people that agree with PAS for good reasons, yet there are also people that disagree with it for good reasons too. During my recent research, I have come to the conclusion that I am for physician-assisted suicide, and I think everyone has the right to die on their own terms. Many people though, including doctors, think that this is morally wrong and it should not be done, but I believe that if people are suffering from a major illness they should not have to live the rest of their life in pain, and die a slow death. Some people with illnesses that want to have a PAS can t even go to the restroom on their own I think that when†¦show more content†¦(p. 3) I think that some of these points are good ones to an extent. The vulnerable groups taking advantage of this is somewhat true. I believe that more people will want to request this but that is why I think that i t should be very closely watched on who is allowed to get a PAS. In Oregon, it is legal to practice PAS but there are a lot of steps that you have to follow in order to be granted this. Many people think that you just ask for it if you are sick and you get it but that is not true at all. You have to be terminally ill with less than six months to live, you must ask for it twice, and the requests must be made fifteen days apart. Also, you have to sign a legal document and have two witnesses sign it as well. Then after that, the physician decides if you have any psychological illnesses and if you do you have to get an okay from a psychologist. If you check out with the psychological part then the physician will decide to write the prescription or not. Having all of these steps makes it so people who don t need a PAS can t get one so nobody can really abuse it. The author also talks about patients giving up too easily and I don t think that would be a huge factor with this because patients who qualify for a PAS are already on the verge of dying, although there are some cases where a patient can recover it is not very common and people do not want to live suffering for six months to find out if they areShow MoreRelatedThe Controversial Topic Of Physician Assisted Suicide1294 Words   |  6 Pagesmonths in intolerable pain? This has brought up the controversial topic of physician-assisted suicide. In some states physician-assisted suicide has already legalized. One state that legalized physician-assisted suicide was Vermont, â€Å"In May 2013, Vermont became the fourth U.S. state to legalize assisted suicide by allowing doctors to prescribe lethal doses of drugs to terminally ill patients†. (â€Å"Right to Die†). This idea of physician-assisted suicide is to give those that are terminally ill the rightRead MorePhysician Assisted Suicide Is A Controversial Topic1929 Words   |  8 PagesOne may have heard of suicide, but not physician-assisted s uicide. The two are very different in terms of the act of taking one’s own life. For instance, physician-assisted suicide is done with help from another person, usually a physician; where the doctor is willing to assist with either the means of how to take one’s own life or the actual act itself. This can either be by prescribing lethal doses of drugs to these patients who want to take their own life or by counseling these patients onRead MorePhysician Assisted Suicide: A Controversial Topic1566 Words   |  6 PagesPhysician Assisted Suicide has become an enormous debate across the world. It was originally thought to be entirely cruel and immoral, but, as time has passed and medical ethics have been considered, it has slowly gained acceptance. Physician Assisted Suicide (PAS) is a legitimate option for those suffering from painful terminal illnesses. It allows the patient who is suffering to have a choice in the matter of their life, which is valuable when some one is in such a vulnerable place. LegallyRead MoreEuthanasia And Physician Assisted Suicide865 Words   |  4 Pagessubject for people; add in the idea of assisted suicides and there’s an uproar in society. Euthanasia or physician assisted suicide is a very controversial topic in our society today. Physician assisted suicide by definition is â€Å"suicide by a patient facilitated by means (as a drug prescription) or information (as an indication of a lethal dosage) provided by a physician aware of the patient’s intent (Merriam-Webster). There are two modes of looking at assisted suicides; either it’s seen as an absurd immoralRead MoreEthical Considerations in Dealing with Changes in the Healthcare System929 Words   |  4 Pageshealthcare system. A topic of consideration that creates controversial discussion is the subject of physician-assisted suicide. Physician-assisted suicide is described as the act in which a physician provides the means necessary for the client to perform the act of suicide. The issue of physician-assisted suicide is viewed through many different perspectives. The topic of physician-assisted suicide has been debated since the development of medicine. Physician-assisted suicide was first legalizedRead MorePhysician Assisted Suicide Should Be Legal1325 Words   |  6 PagesThe topic of physician-assisted suicide has become very controversial because of the ethical questions. The physical state of health of the patient, the patient’s personal life, and even the financial pressure of the patient are all factors to consider when contemplating whether or not to legalize this controversial cause of death. Physician-assisted suicide regarding medical ethics states that a physician cannot legally give any patient a lethal injection to end their life, but they can take theRead MoreThe Legal Definition Of Assisted Suicide987 Words   |  4 PagesPhysician Assisted Suicide Physician assisted suicide is one of the most controversial topics in the medical world today. Many individuals feel as if it is wrong to ask your physician to end your life regardless of your condition. Patients that are terminally ill and that want to end their life with dignity and on their terms often seek assistance in ending their life. They may have many reasons for wanting to end their life instead of holding on such as they do not want to become a burden to theirRead MorePhysician Assisted Suicide : A Controversial Subject1692 Words   |  7 PagesPhysician-assisted suicide is a controversial subject all around the world. Although it is legal in some countries and states, such as the Netherlands, Luxembourg, Switzerland, Oregon, Montana, Washington, and Vermont it is not yet legal in most (Finlay, 2011). People travel from all around the world to these locations to receive information. Physician-assisted suicide is when terminally ill and mentally capable patients perform the final act themselves after being provided with the required meansRead MoreEssay On Physician Assisted Suicide1250 Words   |  5 Pagesattitude towards physician-assisted suicide compared to individual who are conservative (Bulmer, et al. 2017, Choi 2013, Gielen, van den Branden, and Broeckaert 2009, and Jacoby 2010). This is due their attitude that government should take action in order for all citizens to achieve national uniformity (MacLean, 2006). This belief can be applied to legislation surrounding physician-assisted suicide. Liberals may have a more positive attitude regarding physician-assisted suicide due their belief inRead MorePhysician Assisted Suicide : Who Should Decide If A Terminally Ill Person?1146 Words   |  5 Pageshas the right to commit physician-assisted suicide? Introduction Physician Assisted Suicide has been a very controversial topic in the recent years. P.A.S can also be known as physician assisted death or euthanasia. Many states wonder wither this practice is morally right or wrong. Physician Assisted Suicide is when a doctor administers patient lethal drugs, upon the request of the patient, with the end result being death. A popular question that surfaces when this topic is brought up is: Who should

Qualitative Generalising in Accounting Research †MyAssignmenthelp

Question: Discuss about the Qualitative Generalising in Accounting Research. Answer: Introduction This report is based on AMP limited. This report describes the accounting policies followed by the company and the accounting strategies. The report also contains two years annual audited data of AMP limited. The annual report of AMP includes the consolidated financial position, consolidated income statement , consolidated statement of changes in equity and consolidated cash flow statement. This report clearly describes the procedure of preparation of financial statements. This is a three step process and consists of the examples related to the preparation of cash flow statement, trading and profit loss account, and balance sheet (Parker and Northcott, 2016). The two theories of financial accounting i.e. positive and normative are also discussed in this report. Accounting Policies Disclosure of AMP Australian Accounting Standards Board (AASB) has issued certain guidelines for the preperation of financial statements. At the time of recording the values in the financial statements, these values are rounded to the nearest million dollars ($m). Accounting policies are the policies which are applied by the company at the time of making financial sttaements. These policies includes the value at which the assets and liabilities are recorded by the company. The assets and liabilities related to investment contracts and life insurance contracts are measured on a fair value basis and all the other assets and liabilities are valued on the basis of historical cost. There are some amendments in the AMP accounting policies in the year 2015 (Francis, et al., 2016). The amendments were AASB 2014-9 which was related to the method of equity in separate financial statements and AASB 2015-5 which was related to the investment entities. The person who is responsible for accounting estimates is the management itself. The material misstatement risk of accounting estimates depends upon the subjectivity and complexity associated with the process, the number and significance of assumptions that are made, the availability and reliability of relevant data and the probability of uncertainty associated with the assumptions (Kvaal, 2017). The accounting policy of AMP related to inventories includes that inventories should be included in the financial statements at the cost of inventory or its net realisable value whichever is lower. In case of intangible assets, only those costs are being carried forward which creates future benefits for the company. The critical factors related to accounting estimates are that the methods of conducting business, circumstances of the industry in which the company is operating, other external factors and new accounting pronouncements. Flexibility of accounting policies The accounting flexibility differs from firm to firm. AMP is following the accounting policies as per the Australian accounting standards board. So, members are not having enough power to assess the accounting policies and estimates (Howieson, 2017). The accounting flexibility of AMP is under the management. So, managers are only required to follow their guidelines. If the power of flexibility is less with the managers then the accounting data will be less informative. If managers are having high flexibility then the accounting information will become more informative. Positive theory of financial accounting: Accounting gives the investors and managers a standardized system to record the financial transaction of a company in a consistent, transparent and informative way. Today's accounting systems provides accurate methods for representing a company's performance by carefully applying the accounting theories. Flexibility in accounting policies helps the managers to take decisions imm ediately. The company is required to allow managers to change the accounting policy as per the need of the organization. The two major theories of accounting are positive accounting and normative accounting. Positive accounting theory is also known as PAT. Positive accounting theories are based on observing particular phenomena. The aim of this theory is that by observing a number of things the person will be able to predict the future. Positive accounting theory was developed with a view to identify the best accounting theory for the company from the various theories used by other companies (Loyeung, et al., 2016). Some of the examples of positive accounting theories are stakeholder theory and legitimacy theory. The main aim of Watts and Zimmermans positive accounting theory is based on the aim of identifying the relationship between the individuals which are responsible for the output of the firm. The relationship should be between the managers and the debtors of the firm or it mi ght be between the managers and the owners. According to positive accounting theory, the organization should be aligned in such a way that it can integrate the interest of owners and managers of the firm (Ward and Lowe, 2017). In PAT, the persons who are having the authority for the preperation of financial statements are the managers (Lukka and Modell, 2017). The cost occurred in establishing bond between the managers for the preparation of financial statements is known as bonding cost. In positive accounting theory, the cost incurred in monitoring or auditing of financial statements is known as monitoring cost. Another assumption of PAT is that the actions of agents are controlled by contractual arrangements otherwise it leads to residual loss. On the other hand, normative theory of financial accounting is completely different from PAT. Normative theory of accounting: Normative theory does not evaluate the present condition of company. Rather than discussing what is happening in t he company, normative theory guides the developers of accounting policies on the basis of theoretical principle. The major disadvantage of normative theory is that it is based on theoretical principles and on the other hand, the major advantage of PAT is that it is more practical and is related to current events (Martins and Martins, 2017). Normative theory is more suitable for the company because this theory first analysis the nature, structure and the issues that the company is facing then suggest the most appropriate solution to the company. This theory is totally based on practical approach so by adopting this theory the company will definitely get the solution for its issues because the suggestion provided by noemative theory is practically possible. Positive accounting theory is totally a theoretical approach. So, it only suggests the theories which are already used by some companies. The nature and structure of every company is different. So it is possible that one theory is best suitable for a company and will result in failure for another company because of differentiation in operations and the issues of the company. Positive accounting theory is based on the universally accepted principles. Normative theory is just the opposite of it. Accounting Strategy Evaluation The accounting strategy of a firm should be analyzed by its performance in financial statements. The company is required to prepare a strategy for all the activities related to finance that may happen in the near future. Accounting strategy helps to take immediate measures at the time of financial crises. The complexity in the preparation of financial statement depends upon the nature of the firm. Accounting strategy involves recording of all the financial transactions in proper accounting format so that these records can be further used for the preperation of financial statements. AMP is related to providing financial advice so it involves recording each and every transaction on regular basis. Financial statements include balance sheet, trial balance and profit and loss account and cash flow statement. Income statement includes the revenues and expenses of the firm and helps in calculating net income of the firm (Bergh, et al., 2017). Trial balance and profit and loss account are pr epared to identify the sum total of expenses and revenues of the company to determine whether there is a profit to the company or loss. The credit side of profit and loss account includes the revenue from dividend and interest and the debit of profit and loss account includes all the expenses made by the company like advertisement, insurance, salaries, carriage outward, trade expenses and any other expense. Balance sheet is prepared to measure the actual performance of the company. Balance sheet is the sum total of all the other financial statements. Balance sheet includes the fixed assets, fixed liabilities, current assets, current liabilities and equity shareholders and preference shareholders. The total of both liabilities and assets is equal in balance sheet. The reason behind this balance is that the company uses all its liabilities in the purchase of assets. Cash flow statement is divided in three parts i.e. operating, financing and investing activities. Cash flow statement sh ows the sources and uses of cash. There are two methods of preparing cash flow statement, one is direct method. In direct method cash flow information is measured by directly subtracting the expenses from cash receipts. In case of indirect method, one can arrive to cash flow information by adding or subtracting non-cash items from net income (Newcastle University, 2017). There are three steps for the preparation of financial statement (Chiapello, 2017) i.e. understanding the meaning of debit and credit balances, analyse the debit and credit balances and treatment of debit and credit balances. Understanding the meaning of debit and credit balances: The first step related to the preparation of financial statements is proper understanding of debit and credit balances. It is divided into two parts. First is debit balance in trial balance. The debit balance in trial balance consists of expenses and losses or deferred revenue expenditure and assets (Vardon, et al., 2016). Second is credit balance of trial balance. The credit balance consists of revenue and gains or liabilities, capital, provision and reserves. The second step is analyzing which debit balance is an asset and which debit balance is expenditure or loss. In the same way, which credit balance is a liability and which credit balance is an income or gain. While analysing the debit balance, if the balance is being recovered by the firm then it should be treated as an asset and if the balance should not be recovered then it should be a loss to the firm (Cornell and Warne, 2016). On the other hand, if the firm is liable to pay any amount to the creditor then it should be treated as liability to the firm and if the firm is not liable to pay any amount to creditor then it should be treated as gain. The third step of financial accounting process is the treatment of debit and credit balance. Treatment of debit balances: The balances of losses and expenses on the basis of direct or indirect are transferred to the debit side of either Profit Loss Account or Trading Account as the case may be. The deferred revenue expenses and assets are directly transferred to the asset side of balance sheet. Treatment of credit balances: The balances of revenues and gains on the basis of direct or indirect, are transferred to the credit side of either Profit Loss Account or Trading Account as the case may be (Bailey, 2016). The balances of liabilities, provisions, capital and reserves are transferred to the liabilities side of the balance sheet. Disclosure of the Quality of Financial Statements AMP is maintaining transparency, accuracy and consistency in its accounting records. It increases the quality of financial statements. Every company is required to disclose the material information to its human resources. The goal is achieved with the contribution of employees and if the company hides the material information from the employees then it will become a little confusing for the employees that in which direction they have to work and if the employees get to know about the hidden information then it will lower down their morale because they will think that the company is not trusting them. In case of financial statements, the balance at the end of each year is being carried forward to the next year. If there is any material misstatement in one year then it is going to affect the quality of the financial statement of next years till the mistake is identified by the company. The quality of disclosure helps the company to avoid the interference of government in the operations of the company. the quality fo financial statements also maintains the reputation of the company. GAAP refers to generally accepted accounting principles. GAAP consists of the crucial principles of accounting which increases the quality of financial records. GAAP helps in the maintenance of consistency in accounting. GAAP helps to avoid the managers ability to misstate any information in the financial statements. GAAP is a network of experts of accounting. GAAP includes few best Australian minds. These experts helps in setting out the principles as per the nature and structure of the company. The financial records of the company must be disclosed in this way (Almeida and Fernando, 2017). Example of Trail balance: Particulars Debit Credit Opening stock ---- Plant $ Machinery ---- Carriage inward ---- Carriage outward ---- Building ---- Purchases ---- Wages ---- Sundry debtors ---- Salaries ---- Furniture ---- Trade expenses ---- Drawings ---- Advertisement ---- Insurance ---- Discount on sales ---- Bad debts ---- Bills receivable ---- Bank balances ---- Capital ---- Sundry creditors ---- Sales ---- Bank loan ---- Interest received ---- Discount on purchases ---- Example of Trading and Profit $ Loss Account: Particulars Amount Particulars Amount Opening stock Purchases ---- Less: discount ---- Carriage inward Wages Gross profit (transferred to PL) ---- ---- ---- ---- ---- Total Sales ---- Less: discount ---- Closing Stock ---- ---- Total Carriage outward Salaries Trade expenses Advertisement Bad debts Insurance NP(transferred to balance sheet) ---- ---- ---- ---- ---- ---- ---- Total Interest received GP (transferred from Trading A/C) ---- ---- Total Balance Sheet Assets Amount Liabilities Amount Fixed Assets: Furniture ---- Plant and machinery ---- Building ---- Current Assets: Bank balance ---- Bills receivable ---- Sundry debtors ---- Closing stock ---- ---- ---- Total Long-term liabilities: Capital ---- Add: Net profit ---- Less: Drawings ---- Current Liabilities: Sundry creditors ---- Bank loan ---- ---- ---- Total Section 5: Potential Red Flags of AMP The red flags indicate the most crucial factors of the company which leads to fraud if not properly analysed. The management is responsible for everything that is happening in the company. Red flags are not the sign of happening of fraud. Red flag # 1 indicates inability to reconcile financial accounts on regular basis. If the company is unable to update the transactions done on regular basis then it leads to misrepresentation of transaction because of which the chances of fraud increases within the organization. Misrepresentation is a form of fraud which means intentional mistake in the recording of the actual transactions. Red flag # 2 is a sign of unexplained variances in the financial records. Negative variances occurs when the actual revenues are lower than the revenues planned while making the strategy and positive variances occurs when the actual expenses are lower than planned expenses. These variances are required to described carefully by the managers. If there remains any kind of unexplained variance then it leads to fraud within the organization. Red flag # 3 indicates the inquiry about large quantities adjustment or significant dollar amount adjustments. It means the company is required to analyse in detail the large quantity adjustments. While the procurement of raw material, the company is required to determine the difference between the pre-decided requirement of raw material and the actual quantity of raw material purchased. If there is a huge difference then this will indicate the chances of fraud. So, the company is required to focus on the quantity of material used to avoid the occurrence of fraud. Red flag # 4 indicates illogical discrepancies in the budgeted and actual results. Discrepancies are common in actual and budgeted results because the budgeted results are estimated as per the internal and external environmental conditions in that particular period of time. Future is uncertain so there are chances that the prices of raw material w ill increase or the preferences of customers will shift from one product to another or any political changes or changes in governmental regulations. But these all are logical discrepancies. So, the company should find out the logical reason behind the discrepancy in the actual and budgeted result and if the discrepancy is not due to these factors then in such case the company is required to evaluate the results because illogical discrepancies leads to fraud. Red flag # 5 indicates the chances of fraud related to unapproved employees and vendors. The company also includes certain policies and criteria for employees and vendors. Those vendors and employees who satisfy the criteria are approved by the company for further dealings and operations. This policy helps in avoiding fraud. If some unapproved vendors and employees are seen by the company then the company is required to enquire about them immediately. Red flag # 6 is related to the gaps in check numbers and receipts. The company is issuing the checks as per the serial numbers so if any check number is found missing then this needs to be carefully analysed. Red flag # 7 indicates the mismatch of receipts and deposits. The company is required to evaluate the deposits and receipts from time to time. The company is making the expenses from the receipts from customers or if any loan taken from the customers. If there is huge mismatch between the expenses and receipts then it needs to be analysed because receipts and deposits are the most crucial factors for every company. Red flag # 8 is a sign of behavioural changes in employees pattern. The employees are the people who are responsible for the success or failure of the strategy of the employee. If the company found any changes in the behaviour of the employees then in this case, the company is required to talk about it with the employees and try to find out the reason behind this change. Because if timely action is not taken in this concern then it increases t he negativity in the minds of employees and the chances of employees of doing fraud increases (Backof, et al., 2016). Conclusion After proper analysis of this report, it is concluded that AMP is required to be more flexible in the preparation of financial accounts. Some of its liabilities reduced in 2016 as compared to 2015. These liabilities include defined benefit plan liabilities, deferred tax liabilities, external unit holder liabilities, employee benefits, interest-bearing liabilities, payables and current tax liabilities. AMP is disclosing all the material information in its annual report. As per the analysis of the report, the most suitable theory for AMP is normative theory of accounting. Current tax assets, investments in financial assets, reinsurance asset ceded life insurance contracts and deferred tax assets increased in 2016 as compared to 2015.The cash and cash equivalents increased by 2209 in 2016. The cash flows from both financing and investing activities increased in the year 2016 as compared to 2015 but cash flows from operating activities decreased in the year 2016. References Almeida, S. and Fernando, M. (2017). Making the cut: occupation-specific factors influencing employers in their recruitment and selection of immigrant professionals in the information technology and accounting occupations in regional Australia. The International Journal of Human Resource Management, 28(6), 880-912. Backof, A.G., Bamber, E.M. and Carpenter, T.D. (2016). Do auditor judgment frameworks help in constraining aggressive reporting? Evidence under more precise and less precise accounting standards. Accounting, Organizations and Society, 51, 1-11. Bailey, J.A. (2016). Fraud and related-party transactions: internal auditors can identify red flags and reduce the risk and impact of related-party fraud. Internal Auditor, 73(3), 58-63. Bergh, D.D., Sharp, B.M. and Li, M. (2017). Tests for identifying Red Flags in empirical findings: Demonstration and recommendations for authors, reviewers, and editors. Academy of Management Learning Education, 16(1), 110-124. Chiapello, E. (2017). Critical accounting research and neoliberalism. Critical Perspectives on Accounting, 43, 47-64. Cornell, R.M. and Warne, R.C. (2016). Accounting Guidance Flexibility, Auditors Ethical Characteristics, and Blame. In Advances in Accounting Behavioural Research (97-125). Emerald Group Publishing Limited. Francis, J.R., Huang, S.X. and Khurana, I.K. (2016). The Role of Similar Accounting Standards in Cross?Border Mergers and Acquisitions. Contemporary Accounting Research, 33(3), 1298-1330. Howieson, B. (2017). The Phoenix Rises: The Australian Accounting Standards Board and IFRS Adoption. Journal of International Accounting Research. Kvaal, E. (2017). The role and current status of IFRS in the completion of national accounting rulesEvidence from Norway. Accounting in Europe, 14(1-2), 150-157. Loyeung, A., Matolcsy, Z., Weber, J. and Wells, P. (2016). The cost of implementing new accounting standards: The case of IFRS adoption in Australia. Australian Journal of Management, 41(4), 611-632. Lukka, K. and Modell, S. (2017). Interpretive research in accounting. The Routledge Companion to Qualitative Accounting Research Methods, .36. Martins, A.F. and Martins, A.F. (2017). Accounting information and its impact in transfer pricing tax compliance: a Portuguese view. EuroMed Journal of Business, 12(2), 207-220. Newcastle University (2017). ACC3001 : Financial Accounting. Retrieved from: https://www.ncl.ac.uk/module-catalogue/module.php?code=ACC3001. Parker, L.D. and Northcott, D. (2016). Qualitative generalising in accounting research: concepts and strategies. Accounting, Auditing Accountability Journal, 29(6), 1100-1131. Sheridan, T.A. (2016). Managerial fraud: Executive impression management, beyond red flags. New York: Routledge. University of Southern Queensland (2017). ACC5216 Accounting Theory. Retrieved from: https://www.usq.edu.au/course/specification/2017/ACC5216-S1-2017-WEB-TWMBA.html. Vardon, M., Burnett, P. and Dovers, S. (2016). The accounting push and the policy pull: balancing environment and economic decisions. Ecological Economics, 124, 145-152. Ward, C.L. and Lowe, S.K. (2017). CULTURAL IMPACT OF INTERNATIONAL FINANCIAL REPORTING STANDARDS ON THE COMPARABILITY OF FINANCIAL STATEMENTS. International Journal of Business, Accounting, Finance, 11(1). Warren, C.M. (2016). The impact of International Accounting Standards Board (IASB)/International Financial Reporting Standard 16 (IFRS 16). Property Management, 34(3).

The Importance of Music in Our Daily Lives Essay Example For Students

The Importance of Music in Our Daily Lives Essay Music is considered as a popular entertainment way for all people in worldwide. It is very easy to recognize that they listen to music for different reasons and at different times. The reason why music plays an important role in peoples life is also good for physical and mental I health. Firstly, music also has a calming effect on the physical health. A study was performed in the participants, who had an average age of fifty, were recruited from pain and chiropractic tic clinic in the USA. Dividing them into two groups, the doctors encouraged the first to listen t o their favorite kinds of music every day, but the other did not. At the end of the trial, Dry Sided Aleck, one of the doctors did this research, said that, our result shows that listening to muss ICC had a statistically significant effect on the experimental group, reducing pain, depression, a ND disability and increasing feelings of power. A more powerful aspect of music is that it profoundly affects mental health. Nowadays s, it is easy for people to get stress and pressure because of nature forces from the inside o r outside world. Music is the most popular entertainment way to decrease stress and improve anxiety and depression. In fact, music is helpful to promote sleep or relaxation. Previous Reese arch by Professor Good and Huh Ling La, published in 2005, showed that listening to foreteller minutes of soft music before bedtime can improve sleep by more than a third. In add action, according to other research, music can help people eliminate stress and pressure aft era hard work day. In conclusion, music is very important to many people. There are many researches an d real evidences to point out that listening to music every day is good for physical and meet al health indeed. Bothersome, there are also many kinds of music, such as Pop, Rock, Classical, Blue, Disco Therefore, you have many choices to choose what music you IL eke best to relax , to enjoy, especially to practice if you wanted to be a musician. Deed