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Opinion

Non-financial objectives

Few people would argue with the idea that commercial businesses aim to make profits, and that decisions in these businesses are focused around how best to achieve this objective. The desire to be profitable need not, however, be all embracing, and in practice it can be seen that companies are likely to pursue a wide range of objectives, which are both financial and non-financial in nature. This article seeks to explain how such diversity of objectives might arise, discuss examples of non-financial objectives, and consider the implications for company owners and society in general.

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Is failure to teach ethics the causal factor?

Are accounting programs really the cause of the departure of moral values from accounting? If not, what institution is at fault? Unfortunately, it isn't possible to cite a single institution as the causal factor for our apparent disregard for ethical values, nor is there a single solution to our problem.

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Foreign exchange hedging

Foreign exchange risk can be defined as: ‘The likelihood that an unexpected change in exchange rates will alter the home currency value of foreign currency cash payments expected from a foreign source. Also the likelihood that an unexpected change in exchange rates will alter the amount of home currency needed to repay a debt denominated in a foreign currency”.

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Mergers and acquisitions – a problem of culture

History has proved to be a rather critical judge of many mergers and acquisitions during the second half of the twentieth century. In the 1960s and 1970s conglomerate organisations were in fashion. It was assumed that management and commercial success in one type of industry could be easily be transferred to other unrelated industries.

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Becoming a Superstar in Your Career

Every profession, from athletics to accounting, has its superstars. While their chosen career paths may differ, high achievers all possess similar attributes, including the desire to do whatever it takes to be the absolute best for their teams and themselves.

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In all material respects, auditors' assurance falls short

In a world of daily decisions, from the trivial to the truly significant, the advice above would seldom be considered satisfactory. Yet every day, investors make decisions based on an auditor's opinion that "the financial statements present fairly, in all material respects, the financial position of the Company."

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Outsourcing IS/IT services

A strategic decision has been made by many organisations over the last decade to concentrate on their ‘core activities’ and to ‘outsource’ functions which are not seen as core activities. However, organisations have reached different decisions as to what constitutes a ‘core activity’.

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Outsourcing: Where's the Big Deal?

These days most companies want their executives to focus on strategic issues rather than back-office work. Many, however, still choose to outsource specific functions piecemeal. Now a few big companies have become early adopters of "end-to-end HR outsourcing."

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Standards & An IT Auditor

The term 'standards' is defined in any profession irrespective of its nature, as the minimum expected level of performance desired from an individual or an activity relevant to the needs of that particular profession's domain or any of its segments. Information Technology (IT) auditing has been accepted as a distinct profession carved out of two distinctly separate professions of IT-based data communications and Auditing.

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