Project Management An Implementation Plan Essay

INTRODUCTION This class has given me a great insight into which complexity is and how it relates to project management especially within the construction industry. Project complexity is defined as consisting of many varied interrelated parts and can be operationalized in terms of differentiation and interdependence (Baccarini, 1996). The course established the fact that all projects do have some level of complexity. To be able to effectively identify the extent of complexity and to adequately plane for these complexities, one needs to get a clear understanding of what the project involves and how to strategize an implementation plan (Ireland, 2007). The course also differentiated between risk and complexity while elaborating on the identification and management of risk. Complexity is basically associated with the level of difficulty which makes it harder to complete the project thus requiring special efforts to keep project risk in check. Risk measures the uncertainties associated with the projec t while complexity focuses on the known knowns. Also discussed was the Complexity Theory. This theory seeks to determine the minimum number of components needed for a system within a particular area of interest firstly by finding new designs that call for fewer components and by showing that a certain number of components will be needed no matter what design is followed. Secondly by setting limits beyond which further attempts at improvements are futile. This helps to completelyShow MoreRelatedImplementation Of A Project Management Plan1502 Words   |  7 Pagesupcoming Enterprise 2.0 project there are several methods that will moderate transition to the new system. This change management system will help minimize the transition period further up the change curve and will minimize the pain and disruption associated with the transition. 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Essay on Developmental Matrix - 995 Words

University of Phoenix Material Developmental Stages Matrix |Developmental Stage |Physical changes |Cognitive changes |Socioemotional changes | |Infancy |Body weight doubles by the fourth month after birth and| |Crying and contentment | | |triples by their first birthday. |Sensory motor intelligence begins with six stages of |Smiling socially. | |†¦show more content†¦|Hypothetical thought occurs – reasoning about what if |Moratorium – postpone achievement choices. | | |Body becomes bigger; a growth spurt. Eat more and gain |propositions that may or may not reflect reality. |Four aspects of identity – religion, sex, vocation, | | |weight. |Capable of deductive reasoning – begins with abstract |politics/ethnicity. (Few achieve identity achievement in | | |Every primary sex organ increases in size and matures |idea or premise that uses logic to draw specific |these areas.) | | |in function |conclusions. |Relationships are crucial with parents and non-parent adults.| | |Secondary sex characteristics develop – body shape, |Dual-process model – Advanced logical thought |Adolescents become independent and clash with the parents’ | | |males growShow MoreRelated The Characters in The Matrix Essay3889 Words   |  16 PagesThe Characters in The Matrix The Matrix (Wachowski Wachowski 1999) is a battery powering an unending chatter of thought, images, productions, and discourse. In the film, a stabbing needle penetrates the black plug mounted on the back of a human skull, and the mind is overwhelmed by the matrix, an extensive simulacral world that, to its unknowing inhabitants, is in every way the same as reality, and to those merely passing through, is a sinister, green-tinted prison. 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Fundamentals of Financial Management

Question: Discuss about the Fundamentals of Financial Management. Answer: Introduction Financial report consists of the three basic elements which are balance sheet, income statement and cash flow statement which are collectively termed as the financial statement of the company (Berk and DeMarzo, 2007). Financial statement consist of the balance sheet which provide brief overview of the company key assets and liabilities which eventually leads to the company overall growth related to the asset and liability and thus help to provide a brief idea about the company management efficiency .Financial statement such as income statement helps to provide the financial position status of the organization which eventually helps the capital provider to determine which company or the organization is best suitable for investment (Brigham and Houston, 2004). The investors and shareholders of the company analyses the financial report that helps them to understand the situation. Capital provider depends on the financial statement of the company produced and prepared at the end of each fiscal year. The company cash flow statement help the capital provide to gain the idea of three basic activities of the company occurred over the period of each fiscal year. The three basic activities which are determined by the company cash flow statement are operating activities, financing activities and investing activities (Elliott and Elliott, 2008). The three basic element of the financial statement are cash flows statement, income statement and balance sheet. These three financial statement helps to understand financial ratio which help t capital provide to get a clear and precise idea about the company key facts and figure regarding management efficiency and debt and equity capital structure. Stewardship role of accounting and valuation objective of financial accounting and these differences Financial reporting is considered to be one of the major sources which help the capital provider to investigate and analyse the financial statement which provide brief notion about key facts and figures. The present conceptual framework explicitly refers that the financial reporting should be framed in such a manner which helps to reflect the overall requirement of the capital provider for the given company. It is very much essential to get a clear and precise idea about the key aspect like Stewardship role of financial information and decision usefulness as the recent revision to the IASB conceptual framework (Cascino et al., 2014). When the market are perfect one can determine and value the share prices and financial position by the market value and overall modification in the book values of the owners equity or incomes which determine and measure the overall key changes in the firm value. If the market is not saturated accounting can still be utilised to determine the change in th e overall value of the firm. Under the valuation or the decision usefulness the primary aim is on how the accounting helps to measure the value of the firm more accurately (Hillier, 2010). One of the major additional roles of the accounting is that it arises when the markets are not perfect is stewardship. Big firm entrust the assets and key decision to the managers. Managers are considered to have the power of informational advantages which help to take a leading edge over the valuation techniques (Holton, 2012). Accounting data helps to decrease or minimise the negative impact of the managers private information and in return helps to improve the organizational values. Valuation or decision usefulness and stewardship role of accounting both plays a vital role for the capital provider to determine the financial position of the firm in the market. Valuation determine the financial position by determining the fair worth of the firm whereas the stewardship role of accounting takes the help of accounting information provided by the manager (Moles, 2011). Valuation or decision usefulness takes the helps of the information to make the investment decision and typical need future oriented information whereas on the other hand the Stewardship role of information focus on the utilising the overall information to manages and control the management with the effective use of the capital after it has invested in the organization. The overall actives often need to determine and analyse the past financial statement of the company which explicitly in contract between the equity investor, lenders and organizational managers (Paramasivan and Subramanian, 2009). IASB conceptual framework relation with Stewardship role of accounting and valuation Stewardship roles of accounting and valuation both are considered to be playing major role in their respective field, due to the recent changes in the IASB conceptual framework, these two methods considered to be vital for capital provide to control the financial situation of the company in the market (Ross, Westerfield and Jaffe, 2005). However it is evident that the Stewardship roles of accounting is considered to be one of the major part, however it is also considered to provide a range of discomfort about its overall use by IASB standard. On the other hand the valuation or decision usefulness roles is come time signifies as the valuation role of accounting information (Shapiro, 2006). Both the role of accounting information provider is considered to be important as it helps to provide notion of the financial information. The financial information provided on the basis of the stewardship role of accounting helps to provide the key information regarding the company perspective whic h is executed based on the manager efficiency (Smart, Megginson and Gitman, 2004). It is evident from the research and analysis that the company should focus on the financial information as in both the case the financial decision of the investor depend on the financial statement and the Stewardship roles of accounting and valuation both are more or less same and used as the alternative for the preparation and publication of the financial statement. Differentiation between the valuation role of earning and their respective role for determining and evaluating the managers efforts is useful for making the financial decision (Spiceland, Sepe and Nelson, 2011). However on the basis of the criticalanalyses the information need on the future cash flows is not dependent on the manager information. Financial statement consist of the balance sheet, income statement and cash flow statement on the basis of the Stewardship roles of accounting and valuation the depends of the information is high a the capital provide occur on the company key facts and figure which helps to determine the company financial position (Stittle and Wearing, 2008). These outcomes have sweeping ramifications for the present talks encompassing the Conceptual Framework for financial reporting. The heterogeneity of clients of bookkeeping data makes it hard to distinguish an overwhelming client bunch ex ante. Then again, since heterogeneous clients have heterogeneous requests, the idea of 'universally useful monetary reporting' appears to be flawed. Maybe significantly more imperative, it appears to be vague why money related bookkeeping data ought to be intended to give an all-encompassing 'genuine and reasonable perspective' of the reporting element (Wild, 2005). In a setting where capital suppliers use data from different hotspots for their choices, it appears to be thoughtfully speaking to upgrade money related bookkeeping data restrictive on the other data sources being accessible. Accounting data helps to decrease or minimise the negative impact of the managers private information and in return helps to improve the organizational values. Valua tion or decision usefulness and stewardship role of accounting both plays a vital role for the capital provider to determine the financial position of the firm in the market (Wolf, 2008). Valuation determine the financial position by determining the market value of the firm whereas the stewardship role of accounting takes the help of accounting information provided by the manager. In view of the writing, one can infer that the upper hand of money related reporting data lies with its unquestionable status, objectivity, institutionalization and consistency. At long last, the perception that capital suppliers use data mediators and have constrained data handling abilities legitimizes further study into the beneficiaries of financial bookkeeping data as progressively complex bookkeeping data prompts generous dangers of miscommunication. To finish up, since various clients have diverse data needs, data preparing aptitudes and option data sources, the improvement of a Conceptual Framework eventually includes settling on political choices. This infers inclining toward the data need of one capital supplier bunch over the data needs of other capital suppliers will suggest distributional impacts (Berk and DeMarzo, 2007). Capital provided are heterogeneous and that their respective information requirement which also help to provide the demand for key information which differed systematically. Information can be utilised to impact the firm overall key behaviours and the cash flows through contextually arrangement. And to determine the clause claims to reporting firms. To the extent that some capital provider which have the opportunity which help to influence their contractual relationship with the organization (Helbk, Lindest and McLellan, 2010). Demand of the financial accounting information can therefore is expected to be shaped predominantly by the overall valuation aim ad objective of financial accounting. Financial information helps the capital provide to get prior i nformation about the company financial wealth which is compliance with the IFRS standard which follow the company to pride the set of the principle and guideline to prepare and publish the financial statement for the given fiscal year. Impairment Policy BHP Billiton The annual report of BHP Billiton shows the impairment policy. The adjustments for the exceptional items in the financial report includes impairment of Onshore asset in US, repeal of mineral resources rent tax legislation and the impairment of the Nickel west. The value of the non financial assets are analysed at the end of the accounting year in order to determine the impairment. The intangible assets and goodwill value is estimated at the financial year. The impairment of the Onshore asset in US reflects mainly the geological complexity of the Hawkville filed, product mix, development plans and acreage relinquishments (BHP Billiton, 2016). In 2011, the Petrohawk was acquired prior to the establishment of GMC. The diminution and impairment in the Petrohawk asset value has contributed directly to zero vesting result under LTIP 2010 for the participants. The company recognised the impairment charge in their financial report of amount US $1958 million in relation to the onshore assets. In the year 2014, the company announced that the analysis and review of the Nickel West business was accomplished and business sale was not achieved on that acceptable basis. The operational decision helps the company to charge impairment for an amount of US$290 million was recognized in the year June 30, 2015 (Fifield and Power, 2011). An impairment charge for an amount of UD$167 million was determined as the specific evaluation performance in the areas of Permian Basin. The impartment testing has been allocated to the CGU group and are expected to get benefit from synergies of business combinations and represents the level at which the management will manage and monitor the goodwill. The recoverable amount of the Onshore US was evaluated on the basis of fair value less disposal costs. The fair value less cost of disposal is resolute as the current estimated worth of the forthcoming cash flows and arises from the use of the assets. The recoverable amount of the Onshore US and goodwill impairment loss is equal to the carrying amount (Financial statements, 2013). The operational, marketing and structural changes was achieved in the year 2015 and determined that Hawville and black hawk represents separate CGUs. The impairment amount of US$ 2287 million was recognized in relation to property, plant, equipment and Hawkville. Qantas Airways The non-financial assets of Qantas Airways are determined and analyse at the completion of financial accounting year. The recoverable amounts of intangible assets and goodwill are estimated. The recoverable amounts of the assets are higher that the fair value less sell cost. Assets help to generate future cash flow of the company for an example aircraft that are assessed on the cash generating unit. The cash generating unit includes intangible assets, infrastructure and net inflow of cash for CGU (Qantas Airways, 2016). The net flow of cash is used to determine the recoverable amounts that are discounted at the net present value which reflects the assessments of the current market of time value and risk associated with the assets. The financial assets are assessed at the end of the accounting year that helps to determine the evidence objective that is impaired. The financial report of the company shows that the value of the assets does not exceed the recoverable amount. The financial asset would be impaired if the evidence objective shows that one or more proceedings had adverse impact on the future flow of cash of the assets (Kew and Watson, 2012). The determination of the CGU of the assets need judgement and also needs determination of the low aggregation of the assets that produce independent inflow of cash. The guideline of AASB 136 shows the impairment of the assets for the Qantas airways. The impaired loss is to be calculated on the financial assets at the amortised cost and shows the difference between the present value and carrying amount of the future cash flow at original effective rate of interest. The balance sheet of the company shows the asset value. It is the responsibility of the auditors and accountants to determine and analyse the financial show of the business as well as showing accurate value of the assets. The fair representation of the assets value is very much important for the company (Winters, 2008). The investors and shareholders of th e company govern and assess the financial situation and the asset value shows the ability of the company to pay back the debt amount. Impairment of assets The impairment of assets of the companies in the financial statements shows that the asset values are not carried out more than recoverable amount. However, the provision of impairment of Qantas Airways and BHP Billiton matched with the role of valuation. The actual value of the assets can be determined and evaluated with the help of provision of impairment (Helbk, Lindest and McLellan, 2010). The financial report of the companies shows that the value of the assets does not exceed the recoverable amount. The loss account of impairment shows that the assets amount exceseds the regain amount value. The financial report of both the companies shows actual value of the assets. The carried amount of the assets is calculated by deducting accumulated depreciation and impairment losses. Therefore, the financial statements show that whether the asset value can be impaired and the recoverable asset amount should be calculated. The valuation of the assets is done at the end of the income year (Z opounidis, 2008). The valuation is based on the Australian Accounting Standard as well as the main focus is on the fair value representation. The companies generated their future flow of cash with appropriate utilization of the assets. The carried amounts of the assets are assessed at the financial accounting year and decision is taken by the financial management department whether the assets can be impaired or not at the end of accounting year. The investors and shareholders of the company control and manage the asset value shows the ability of the company to pay back the debt amount. The recoverable amounts of the assets are estimated that helps to predetermine and analyse the actual value of the assets. Conclusion The preparation of financial report and managing financial resources is very much important for an organization. The analysis of financial data helps to provide a notion about the financial aspect of the comapny. The investors and shareholders of the company analyses the financial report that helps them to determine the financial position of the company. Therefore it is important for the company to show fair value of assets, liabilities, revenue, expenses, profit or loss during a specific period of time. The valuation of the assets and liabilities shows the ability of the company to pay off its debts and it is the responsibility of the auditor to show appropriate value in the financial statement. The financial statement helps to analyse the financial ratio which help to capital provide to determine about the company key facts and figure regarding management efficiency and debt and equity capital structure. References Berk, J. and DeMarzo, P. (2007).Corporate finance. Boston: Pearson Addison Wesley. BHP Billiton, (2016). [online] Bhpbilliton.com. Available at: https://www.bhpbilliton.com/~/media/bhp/documents/investors/annual-reports/2015/bhpbillitonannualreport2015.pdf?la=en [Accessed 20 Sep. 2016]. Brigham, E. and Houston, J. (2004).Fundamentals of financial management. Mason, Ohio: Thomson/South-Western. Cascino, S., Clatworthy, M., Garca Osma, B., Gassen, J., Imam, S. and Jeanjean, T. (2014). Who Uses Financial Reports and for What Purpose? Evidence from Capital Providers.Accounting in Europe, 11(2), pp.185-209. Elliott, B. and Elliott, J. (2008).Financial accounting and reporting. Harlow: Financial Times Prentice Hall. Fifield, S. and Power, D. (2011).Managerial finance. [Bradford, UK]: Emerald. Financial statements. (2013). London: BPP Learning Media Ltd. Helbk, M., Lindest, S. and McLellan, B. (2010).Corporate finance. New York: McGraw-Hill. Hillier, D. (2010).Corporate finance. London: McGraw-Hill Higher Education. Holton, R. (2012).Global finance. Abingdon, Oxon: Routledge. Kew, J. and Watson, A. (2012).Financial accounting. Cape Town: Oxford University Press. Moles, P. (2011).Corporate finance. Hoboken, N.J.: Wiley. Paramasivan, C. and Subramanian, T. (2009).Financial management. New Delhi: New Age International (P) Ltd., Publishers. Qantas Airways, (2016). [online] Qantas2015.reportonline.com.au. Available at: https://qantas2015.reportonline.com.au/system/files_force/downloads/full_qantas_annual_report_2015-1.pdf?download=2 [Accessed 20 Sep. 2016]. Ross, S., Westerfield, R. and Jaffe, J. (2005).Corporate finance. Boston: McGraw-Hill/Irwin. Shapiro, A. (2006).Multinational financial management. New York: J. Wiley Sons. Smart, S., Megginson, W. and Gitman, L. (2004).Corporate finance. Mason, Ohio: Thomson/South-Western. Spiceland, J., Sepe, J. and Nelson, M. (2011).Intermediate accounting. New York: McGraw-Hill Irwin. Stittle, J. and Wearing, B. (2008).Financial accounting. Los Angeles: SAGE Publications. Wild, J. (2005).Financial accounting. Boston: McGraw-Hill/Irwin. Winters, D. (2008).Managerial finance. [Bradford, England]: Emerald. Wolf, M. (2008).Fixing global finance. Baltimore, Md.: Johns Hopkins University Press. Zopounidis, C. (2008).Managerial finance. [Bradford, England]: Emerald.

Reasons to Oppose Globalization free essay sample

It has been said that arguing against globalization is like arguing against the laws of gravity. † Over the last century, humans’ societies all over the world have established a closer contact than ever before. This term refers to the processes of global integration of societies, cultures, economies, and laws through exchange of technology, politics, and trade. Nowadays, our ideas, products, views, and other aspects of culture have been transported around the globe which means globalization has made countries a small village. The numerous dark sidesof globalization on our world and societies lead me to stand against it. This paper is going to discuss some of these negatives such as destroyingthe economy of countries, the spread of diseases, and environmental degradation. Globalization expands and accelerates the exchange of one country’s resources to benefit all countries around the world. The first reason that makes me against this phenomenon is destroying the economy of countries. We will write a custom essay sample on Reasons to Oppose Globalization or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Globalization has increased the integration of separate economies which led to the emergence of a single global economy. As countries are getting closer and the cross-border movement is rapidly increasing, the economies of different countries have been interdependently mixed. Therefore, if there is an economic crisis in one part of the world that will affect all parts that have a relationship with. For example, the problem of Greece affected the entire European countries. In short, one can say that the impact of globalization on the world-wide economy is very bad and its results will affect several countries in a row, if not the whole world. If there is a problem in the United States of America, the side effects will be seen here in Saudi Arabia. Another downside of globalization is diseases. As transportation is getting easier and the technology of traveling is developing, more diseases will be delivered from on part of the world to another. Human and animal diseases can spread quickly through globalization. For example, AIDS was first discovered in America in the early 1980s, but through traveling this disease immigrated to other parts of the world. As a result, more people are getting affected by other diseased individuals day by day. The percentage of transporting illnesses has increased in a noticeable rate between the 19th and 20th century. So, this aspect of globalization is deadly harmful and it can destroy our societies. Furthermore, through the process of exchanging goods from one country to another more disorders will spread. The last drawback of globalization should be taken in consideration which is environmental degradation. We are living in a globalized world where the rate of environmental problems is growing up. For example, a company may want to build other factories and branches in other countries because environmental laws are not as strict as they are at homeland. As a consequence, the term of global warming is rapidly rising and the Ozone layer is degraded day by day because of the massive number of factories. From another perspective, poor countries in the Third World may have to cut down more trees so they can sell wood to richer countries. For this reason, another term is risen on the global horizon which is deforestation, the process of cutting trees in order to take their maximum profits in trade. So, this downside of globalization has led to the presence of two problems considered as harmful effects on our environment. In conclusion, I think globalization is bad because it has many hazardous impacts on societies of different countries as individuals or the world as a whole. A lot of bad points make me oppose this topic such as its undesirable impact on economy, increasing the rate of diseases, and environmental damages. The essential one, in my point of view, is environmental degradation because it will lead to other problems such as global warming. Finally, be aware of the phenomenon of globalization because its harms have exceeded the benefits.