Rule-of-thumb budgeting is budgeting that's popular with the hospitality and tourism industry because it's so effective.

The current value in today's dollars of a future sum of money is called :______

AleksandrR [38]

Ans: (a) present value

4 0

2 years ago

- Name the six business management perspectives that go beyond planning, controlling, and decision making?

wel

Answer 4:

Following are the six business management perspective:

Ethical Stance
Strategic aspects of the decision
Risk Management
CSR Aspect
Process Management Aspects
Leaders Perspective

Answer 5:

IMA stands for Institute for Management Accountants.

The IMA Statement of Ethical Professional Practice has listed following four standards for the professionals who are member of IMA to comply with:

Competence: The member must be competent in his role in accordance to his experience, skills, knowledge, complying laws & regulation and always acting ethically.
Confidentiality: Must not breach the confidentiality implied duty on him except in situations when disclosure of information is mandatory by law.
Integrity: Must be straight forward and there must be no self interest in his dealings with the company and must considerably reduced.
Credibility: Communicate the results with unbiased decision making.

Answer 6:

Because freedom does not means that our self interest is everything. We owe duty of care to people who rely on our acts. An accountant, auditor or internal auditor must act ethically or universally that benefits everyone without breaking the laws and ethical duties imposed by the professional bodies. If we go back to Enron case, we see that the External auditor was not acting in the public interest and as a result Enron which was the world's first $100 billion dollars company collapsed. The collapse of Enron bankrupt many pension companies which further affected the lives of the ordinary person in the USA. Furthermore, due to collapse of Enron, a lot of people withdraw the amount invested in Stock exchange. Dozens of companies and millions of people suffered from this unethical behaviour of professionals.

Answer 7:

Corporate Social Responsibility means that the company is just like an human being and its operations must not harm the environment, so this the least duty which the stakeholders expect from them. Being a good social beings, the companies must try to stable the environment situation in its surrounding and wherever its stakeholders live. For Example, The refinery companies have stopped poluting the oceans with their oil spills, now they have opted to newest technology that will eliminate the harmful effects of their oil spills and bring stability in the environment.

Another example includes the lower usage of natural resources. In UK it is the companies responsibility to reduce its natural resources usage which will lower the pollution. This additional care has a cost and may lead to lower competitiveness of the products so there must be a law globally that enforces to act socially responsible.

7 0

2 years ago

A fixed asset with a five-year estimated useful life and no scrap value is sold at the end of the second year of its useful life

JulsSmile [24]

Answer:

B) A gain would be less or a loss would be greater using straight-line depreciation.

Explanation:

In straight line method of depreciation there is a fixed amount of depreciation, and in double declining method the rate is double of straight line method,

Let us take an example,

Cost of asset = $500,000

Selling price at end of 2nd year = $300,000

Straight line depreciation = $100,000 for each year i.e. $500,000/5

Double declining method rate = ($100,000/$500,000) $\times$ 100 $\times$ 2 = 40%

Therefore value at end of second year

Straight line = $500,000 - ($100,000 $\times$ 2 ) = $300,000

Double Declining method = ($500,000 -40%) - 40% = $180,000

In case of sale at $300,000

Profit shall be

Straight line = $300,000 - $300,000 = 0

Double Declining = $300,000 - $180,000 = $120,000

Now, there will be more profit in double declining that is gain is less in straight line and losses would be greater in straight line thus statement B is correct.

8 0

3 years ago

On January 1, 2022, the Ivanhoe Company ledger shows Equipment $48,300 and Accumulated Depreciation $17,720. The depreciation re

Cerrena [4.2K]

Answer:

$13,290

Explanation:

Straight line depreciation expense = (book value of asset - salvage value ) / useful life

Book value of the asset = $48,300 - $17,720 = $30,580

($30,580 - $4,000) / 2 = $13,290

8 0

2 years ago

g Compare and contrast a four Ps approach to marketing versus the value approach (creating, communicating, delivering and exchan

abruzzese [7]

Answer:

The 4Ps are Product, Pricing, Promotion, Place.

Explanation:

Thinking about it carefully, one would note that there is really nothing to contrast between the value approach which is Creating, Communicating, Delivering and Exchanging Value.

Let's make the comparisons:

Products and Services are Created. It's impossible to have a product or service that is not created.

The inherent quality of a Utility or Product or Service is that they are value which is Created. So in describing the marketing approach, one can use both interchangeably.

Pricing vs Exchanging Value

Again there is a parallel here. Price is the value you have put on your product or service. Without price, it's difficult to exchange value. Again in the marketing process/approach, it's difficult to separate the two. In both approaches, pricing and Exchanging Value as steps in the marketing approach can be used interchangeably.

Communicating vs Promotion

This is also another parallel. Promotion is simply another way to communicate the value of your product. Both are really not different.

Delivering Value vs Place

Place under the 4 Ps approach speaks to the location where the product is delivered. Again it's clear to see that both cannot be separated.

In conclusion, assuming all factors are the same and held constant between two companies A and B, if company A follows the 4Ps approach and company B follows the Value approach, they are most likely to arrive at the same results.

Cheers!

5 0

3 years ago