Essay --

A1. Documents ïÆ' ¼ Fourth quarter balanced scorecard attached with excel spreadsheet. ïÆ' ¼ Balance sheet attached with excel spreadsheet. ïÆ' ¼ Income statement attached with excel spreadsheet. B1. Adequacy of Funds According to Ralph Estes’ Dictionary of Accounting (1981), a pro forma financial statement is described as â€Å"a financial statement created on events and transactions that are assumed, but has not yet happened.† On the other hand, a historical financial statement gives organizations financial measurements on how well the company has performed in the past. For that reason, without financial statements it would be difficult for management, investors, executive board members, and customers to analyze and evaluate how well a company does financially. The format in pro forma financial statements are similar to historical financial statements, but primarily focuses on the future theories and not past factual financial information. Also, a budget is a financial disposition to control future aspects in operations of money. Therefore, having a financial budget is extremely important especially when starting a business. During my simulation, I focused more on using a financial budget throughout to predict how much money I would spend during the expansion process of building the company. I kept my financial risk managed, so the company would not have any debt in the process. Unfortunately, this also backfired against me when I needed to invest more for the future of the company. The two points in my balanced scorecard are how well I did against the average companies. (Below is part of the final Balanced Scorecard for Investment in Future and Financial Risk). Average Typhoon Investment in Future 85.62 1.00 Financial Risk 0.91 1.00 Now... ...tion provided a purchase of the market search, but could have used a better overview of what tools or directions a business owner could use to succeed. There are many ways to achieve the ultimate goal of perfection towards the customer’s expectation in my simulation and benchmarking would have been an impactful improvement to achieve quality assurance goals. That being said, in the simulation there should be some evaluation of defects of the units that were sold to the customers. In a few of the quarters, feedback review of the quality of the product would also be another part of the simulation. Therefore, the quality assurance from the customer’s standpoint is vital in order to gain revenue and manufacturing growth for a company. Benchmarking would be an impactful improvement towards new business owners for this simulation to achieve quality assurance goals.

Agency problem and its solutions

Principal-agent relationship occurs when a principal contracts an agent. The principal hires the agent to perform a service for him or to act on his behalf. For example, in a large corporation, shareholders would hire managers to help them to organize the company in dairy business. However, agency problems may arise because of the conflict interest and asymmetry information between principals and agents, which lead to agency costs. In this essay, I would like to use the agency theory introduced by Jensen and Meckling (1976) to analysis that to what extent that agency cost would damage shareholder’s wealth maximisation and what actions shareholders could take to correct it.Agency problems and main causes of itFirst of all, there might to conflicts of interest or different goals between principals and agents, the agent would act as their best self-interest but not principal’s. Secondly, there is asymmetry information between principals and agents, managers may have more i nformation than principals or they could hide their actions. Thirdly, there is uncertainty in the outcome. The outcome may not just depend on managers’ effort but also other factors like good luck or high market’s expectation lead to increase in share price.Agency costsAgency cost incurred when the managers do not attempt to maximise firm’s value and the cost to monitor manager and constrain their behaviours. Agency cost is the sum of three types of costs, cost of designing the contract, cost of enforcing the contract (monitoring and bonding) and residual loss if contract is not optimal.Solutions of agency problems Monitoring Management compensation Incentive compensationThere are two major principal agent model, adverse selection and moral hazard. Adverse selection occurs when one of the parties, usually the  agent, has better relevant information prior to the contract. This hidden information will be used opportunistically to optimize the utility gained from entering the contract. In moral hazard the principal is unable to observe the agents actions after signing the contract. This causes the agent not to take the full consequences of his actions and thus he can use this hidden information to act opportunistically and maximize his own profit. In most cases the principal will have to carry the costs of this behaviour. ï » ¿Agency problem and its solutions IntroductionPrincipal-agent relationship occurs when a principal contracts an agent. The principal hires the agent to perform a service for him or to act on his behalf. For example, in a large corporation, shareholders would hire managers to help them to organize the company in dairy business. However, agency problems may arise because of the conflict interest and asymmetry information between principals and agents, which lead to agency costs. In this essay, I would like to use the agency theory introduced by Jensen and Meckling (1976) to analysis that to what extent that agency cost would damage shareholder’s wealth maximisation and what actions shareholders could take to correct it. Agency problems and main causes of it.First of all, there might to conflicts of interest or different goals between principals and agents, the agent would act as their best self-interest but not principal’s. Secondly, there is asymmetry information between principals and agents, managers m ay have more information than principals or they could hide their actions. Thirdly, there is uncertainty in the outcome. The outcome may not just depend on managers’ effort but also other factors like good luck or high market’s expectation lead to increase in share price.Agency costsAgency cost incurred when the managers do not attempt to maximise firm’s value and the cost to monitor manager and constrain their behaviours. Agency cost is the sum of three types of costs, cost of designing the contract, cost of enforcing the contract (monitoring and bonding) and residual loss if contract is not optimal.Solutions of agency problems Monitoring Management compensation Incentive compensationThere are two major principal agent model, adverse selection and moral hazard. Adverse selection occurs when one of the parties, usually the  agent, has better relevant information prior to the contract. This hidden information will be used opportunistically to optimize the utili ty gained from entering the contract. In moral hazard the principal is unable to observe the agents actions after signing the contract. This causes the agent not to take the full consequences of his actions and thus he can use this hidden information to act opportunistically and maximize his own profit. In most cases the principal will have to carry the costs of this behaviour.

Is It the Author, or His Content Essay - 1404 Words

Orson Scott Card’s novel, Ender’s Game, has been the most popular science fiction novel since its release is 1985. While the book is essentially a fantasy, it contains a lot of scientific and philosophical information that are both manifest and latent. The issue that critics argue over may not necessarily refer to the plot of the book, but rather to its moral dynamics. In this literary analysis, we will analyze Ender and his sibling’s relationship by referencing the Personality Development theory, and the history of many historic biblical saints. But first, the author himself will be analyzed in order to understand what influenced him to write such a popular book. As an author, professor, columnist, and political activist, Orson Scott†¦show more content†¦For instance, in his book Ender’s Game, the main character, Ender Wiggin, and his siblings, Valentine and Peter Wiggin, all share two major similarities. They all are named after historical saints, and wholesomely reflect what psychologist Sigmund Freud refers to as parts of the personality. The key element in Freud’s Personality Theory, is the Ego which operates â€Å"on the reality principle, [and] seeks to gratify the id’s impulses in realistic ways† (Myers). In the novel, Ender symbolized the ego, and developed into a young man that shared his brother Peter’s â€Å"ruthlessness† and his sister Valentine’s â€Å"compassion† (Card). The relationship that Ender had with his siblings was established at the start of the book, but was not made obvious until towards the end when Ender admitted that â€Å"in the moment when [he] truly understand[s] [his] enemy, understand[s] him well enough to defeat him, then in that very moment [he] also love[s] him† (Cars). Ender struggled with the battle of loving his enemy throughout the entire novel. 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