Welcome To My Blog: Juni 2012

Selasa, 26 Juni 2012

The Role of Computer In Business

The Role of Computer In Business

All businesses need to be well organised to achieve their aims and objectives. Certain tasks, or functions, must be done regularly and
these are usually grouped into specific types of activities. In a
large organisation like Tesco PLC, people work together in functional
areas. Each functional area has a specific purpose. Below are the main
functional areas:

Finance

The main activities of the finance department are:

* To record all the business transactions

This means that they record in their schedule all the expenses that
have been paid and all incomings. They also make sure that each
department does not spend more than it has been allocated.

* Measure the financial performance of Tesco

This means the finance department look at how well or badly Tesco is
doing financially.

* To control the finances and cash flow so Tesco stays reliable.

This means that they make sure that there is enough money in the
business to pay off debts, bills and the employees. They also make
sure that there is enough money to survive for the company.

* To take timely financial decisions by comparing the predicted
performance with actual performance.

This means that if the company wants to invest more , then it
would be up to the finance department to make the decision on whether
there are enough funds to do. They would do this by looking and
comparing the financial situation in previous years with the financial
situation of the present year. By this they can see the expense will
leave them with enough money at the end. They also prepare all the
accounts each year so that the company comply with their legal
responsibilities to the Inland Revenue and complete VAT returns which
they send to HM Customs and Excise.

Conclusions : All businesses must be well organized to achieve their goals and objectives. Specific tasks, or functions, should be done regularly and
These are usually grouped into the types of activities. in
large organizations.

Source : http://www.oppapers.com/essays/Role-Of-Computers-In-BusIness

Import and Export

Import and Expor

An import of a good occurs when there is a change of ownership from a non-resident to a resident; this does not necessarily imply that the good in question physically crosses the frontier. However, in specific cases national accounts impute changes of ownership even though in legal terms no change of ownership takes place (e.g. cross border financial leasing, cross border deliveries between affiliates of the same enterprise, goods crossing the border for significant processing to order or repair). Also smuggled goods must be included in the import measurement.

Imports of services consist of all services rendered by non-residents to residents. In national accounts any direct purchases by residents outside the economic territory of a country are recorded as imports of services; therefore all expenditure by tourists in the economic territory of another country are considered as part of the imports of services. Also international flows of illegal services must be included.

Basic trade statistics often differ in terms of definition and coverage from the requirements in the national accounts:

Data on international trade in goods are mostly obtained through declarations to custom services. If a country applies the general trade system, all goods entering the country are recorded as imports. If the special trade system (e.g. extra-EU trade statistics) is applied goods which are received into customs warehouses are not recorded in external trade statistics unless they subsequently go into free circulation of the importing country.

A special case is the intra-EU trade statistics. Since goods move freely between the member states of the EU without customs controls, statistics on trade in goods between the member states must be obtained through surveys. To reduce the statistical burden on the respondents small scale traders are excluded from the reporting obligation.

Statistical recording of trade in services is based on declarations by banks to their central banks or by surveys of the main operators. In a globalized economy where services can be rendered via electronic means (e.g. internet) the related international flows of services are difficult to identify.

Basic statistics on international trade normally do not record smuggled goods or international flows of illegal services. A small fraction of the smuggled goods and illegal services may nevertheless be included in official trade statistics through dummy shipments or dummy declarations that serve to conceal the illegal nature of the activities.

In national accounts "exports" consist of transactions in goods and services (sales, barter, gifts or grants) from residents to non-residents. The exact definition of exports includes and excludes specific "borderline" cases. A general delimitation of exports in national accounts is given below:

An export of a good occurs when there is a change of ownership from a resident to a non-resident; this does not necessarily imply that the good in question physically crosses the frontier. However, in specific cases national accounts impute changes of ownership even though in legal terms no change of ownership takes place (e.g. cross border financial leasing, cross border deliveries between affiliates of the same enterprise, goods crossing the border for significant processing to order or repair). Also smuggled goods must be included in the export measurement.

Export of services consist of all services rendered by residents to non-residents. In national accounts any direct purchases by non-residents in the economic territory of a country are recorded as exports of services; therefore all expenditure by foreign tourists in the economic territory of a country is considered as part of the exports of services of that country. Also international flows of illegal services must be included.

National accountants often need to make adjustments to the basic trade data in order to comply with national accounts concepts; the concepts for basic trade statistics often differ in terms of definition and coverage from the requirements in the national accounts:

Data on international trade in goods are mostly obtained through declarations to custom services. If a country applies the general trade system, all goods entering or leaving the country are recorded. If the special trade system (e.g. extra-EU trade statistics) is applied goods which are received into customs warehouses are not recorded in external trade statistics unless they subsequently go into free circulation in the country of receipt.

Conclusions : export import activities is a key factor in determining a country's economy. to facilitate the activities of the employers are required to Greenworld knowledge of export import procedures, international trade, customs, shipping and banking.

Source : http://en.wikipedia.org

Modern Banking

Modern Banking Systems was founded in 1975 and has established itself as a single-source provider for all your core data processing needs. MBS is continuously researching new technology for the development of advanced software and hardware, ongoing maintenance services, network data communication installation and training, customer support services and IT security services.

Partnership Philosophy

Our Partnership philosophy provides protection of your investment far beyond historical industry norms. Upon completion of a detailed survey of your needs, a total solution is designed to meet your specific objectives. This individually tailored solution with ongoing hardware and software support services provides a dynamic system to power your business into the future successfully!

Privacy Policy

IBE/MBS believes strongly in our Client’s confidentiality and information privacy. These beliefs extend to the Client’s information and the Client’s Customer information. IBE/MBS will not provide access to, or publish any Client or Client Customer data without the expressed written consent from the Client. IBE/MBS recognizes the significance of our Client’s Regulations, such as Graham Leach Bliley Act and the Right to Privacy, and has instituted procedures to comply with the requirements.

Financing Alternatives

Modern Banking Systems offers three financing alternatives for your investment. Rental, lease or purchase, or any combination of these, are available to best suit your needs. The MBS “Rental Option” is unique in the industry in that it allows you to procure and finance your investment without capitalization of that investment. You can rent all or a portion of the total core solution with one simple monthly payment.

Conclusions : Modern banking system offers three alternatives for financing your investment. Rent, lease or purchase, or a combination thereof, available to best suit your needs.

Source :http://www.modernbanking.com/

Money and its Functions

Money and its Functions

What is money

Money is anything that is generally acceptable in payments for goods and services or in the repayments of debts. It is also defined as anything that is regularly used in economic transactions or exchanges.

The Functions of Money

The primary function of money is to facilitate the buying and selling of goods, services and assets. This is known as a medium of exchange. There are also two other main functions of money. The main functions are covered in more depth below:

Medium of exchange. In an economy where people make items themselves to meet their own needs there would be no need for money as people would barter using their spare items that they have produced. If one person wanted an item another person had they would simple barter and arrange an exchange of goods. In a modern economy which is highly developed, barter would be impractical in most circumstances. What is needed is a medium of exchange which is generally acceptable as a means of payment for goods, services, labour and factors of production/ service. Money carries out this function. To be an effective and suitable means of exchange, money must be light for it to be carried around, be divisible (come in different denominations) and not be easy forged or replicated.
Means of Evaluation. Money allows for the comparison of the value of goods, services and assets. The value of goods and services is expressed in terms of prices and these prices are expressed in terms of money. This allows for different items which are dissimilar, such as a company’s assets, to be added up. Money, thus serves as a ‘unit of account’.
Store of wealth. People and organisations need to be able to use the earnings of one days labour or operation to purchase goods and services in the future. This would mean they would need to store their wealth and that they need a means of saving. Money facilitates the storing of wealth as it can be saved.

Money as a unit of exchange

Another important role of money is that it serves as a common measure of value. The value of goods and services can be expressed in terms of units of money. Just as we measure weights in terms of pounds or distance in terms of kilometers, similarly we measure and compare the value of goods and services in terms of money. Money is the yardstick that allows the individuals to measure the relative value of goods and services. For exampes, a car may be listed for sale at Rs. five lakh, a house for Rs. fifty lakh. The use of money as unit of account has greatly reduced transaction costs i.e the time, effort and expenses that go into the purchase or sale of goods.

Money does not just consist of notes and coins. Only about 3 to 5% of the UK’s money supply consists of actual cash. Most money is held as deposits in banks and other financial institutions. The bulk of these deposits only appear as book keeping entries in these institutions accounts. It is possible for people to access this money in their accounts through the use of debit cards, cheques, standing orders, direct debits etc without the need for cash. This means that banks and other financial institutions need to keep only a small percentage of these deposits in their safes and at their counters in the form of cash.

Conclusion : The money that we know it today has undergone a long development process. At first, people are not familiar with the exchange because everyone is trying to meet kebutuhannnya with their own business. and over time the process runs until now to show that money does penying for life.

Source : http://socyberty.com/economics/money-and-its-function/

Why Finance ?

Why Finance?

The financial industry expanded at a fast pace for almost three decades. Currently, the industry is a major employer. It ranks behind only construction and health care in the number of jobs. The major banks alone employ more than 170,000 individuals. There are no signs that this trend will change any time soon. Recent developments suggest that the industry is expected to grow at a faster rate. As the number of individuals who will be retiring per year over the next ten years is increasing, the need for financial services is likely to increase.

The growth in the financial services increased the complexity and sophistication of the industry jobs. Financial experts are asked to perform highly technical tasks that require knowledge of specialized management techniques designed for that particular task.

Usually, salaries will rise with the complexity and sophistication of the jobs. As the number of individuals who will be able to perform a task decreases the salary that will be demanded by the competent individuals will increase. The financial industry pays relatively higher salaries compared to other industries.

The Department of Finance and Management Science

The department is well positioned to prepare students for future careers in finance. The Faculty are experts in their fields of specialization, competent and dedicated educators, and appreciate student needs and aspirations. They are dynamic and active to keep up with changes in the market place and provide their students with state of the art knowledge. The courses and the topics within the courses are carefully selected to provide students with background and management skills necessary to prepare competent financial managers. Students enter the program with high expectations and they get more than what they expect. They graduate well trained and ready to compete and succeed in the market place.

Likely Career Path of Students

The typical finance graduate will secure a related job within one year after graduation. Students who have prior experience, part or full time and not necessarily related to the financial industry, will normally get a job soon after graduation. After two to four years in the first job, our graduates always managed to move upward quickly toward their goals. Feedback from our students is encouraging.

There are many careers in the financial industry. The attached table provides an extensive list of potential jobs. Some of them are entry level while some others will require extensive industry experience. The table divides these jobs between different areas. Yet, the recent changes in the industry are making the divisions highly irrelevant. Financial institutions are demanding from their employees more specialization as well as broader knowledge.

Financial services provide excellent opportunities for entrepreneurs and self motivated individuals. The table points out several of these opportunities.

Programs of Study

The department offers advanced courses, which gives students a wide spectrum of specialization choices within the finance area. These include corporate finance, financial institutions and services, investments, insurance, financial planning, and financial risk management. In addition, the Edwards School of Business has a number of options available to students in which they can prepare themselves for careers outside the focussed disciplinary areas. The department provides students with the flexibility to engineer their own programs to match their perceived career plans.

Depending on a student's expected career, the courses can be selected to give the student the desired knowledge. For example, it is essential for a student who is planning to work in the banking service area to take Intermediate Corporate Finance (COMM 363), Security Analysis and Evaluation (Comm 367), and Management of Finance Institutions (COMM 469), and Derivative Securities (COMM 419).

The first familiarizes the student with analytical techniques and theory of corporate finance. Professionals such as loan officers, credit managers, and investment bankers would need these skills. Also, employment in the banking industry will require knowledge of the principles and techniques of investing in securities.

Bankers must be familiar with the sources of investment information and with the techniques of evaluating the information. They must appreciate the risks and returns associated with various investment instruments. COMM 367 is specifically designed to satisfy this need. Finally, in COMM 469 students learn and acquire the skills to be successful bank managers. This course exposes them to the problems of some important financial institutions such as chartered banks, insurance, trust and investment companies. Students learn the techniques of managing the assets and liabilities of these institutions.

Conclusions :

Growth in financial services employment increasing complexity and sophistication of the industry. Because the number of individuals who will retire per year over the next ten years to increase, demand for financial services is likely to increase.

Source : http://www.commerce.usask.ca/departments/finance/Why-Finance.html

The Balance Sheet

The Balance Sheet

In financial accounting, a balance sheet or statement of financial position is a summary of the financial balances of a sole proprietorship, a business partnership or a company. Assets, liabilities and ownership equity are listed as of a specific date, such as the end of its financial year. A balance sheet is often described as a "snapshot of a company's financial condition".
Of the four basic financial statements, the balance sheet is the only statement which applies to a single point in time of a business' calendar year.
A standard company balance sheet has three parts: assets, liabilities and ownership equity. The main categories of assets are usually listed first, and typically in order of liquidity.
Assets are followed by the liabilities. The difference between the assets and the liabilities is known as equity or the net assets or the net worth or capital of the company and according to the accounting equation, net worth must equal assets minus liabilities.
Another way to look at the same equation is that assets equals liabilities plus owner's equity. Looking at the equation in this way shows how assets were financed: either by borrowing money (liability) or by using the owner's money (owner's equity). Balance sheets are usually presented with assets in one section and liabilities and net worth in the other section with the two sections "balancing."
A business operating entirely in cash can measure its profits by withdrawing the entire bank balance at the end of the period, plus any cash in hand. However, many businesses are not paid immediately; they build up inventories of goods and they acquire buildings and equipment. In other words: businesses have assets and so they can not, even if they want to, immediately turn these into cash at the end of each period. Often, these businesses owe money to suppliers and to tax authorities, and the proprietors do not withdraw all their original capital and profits at the end of each period. In other words businesses also have liabilities.

Types

A balance sheet summarizes an organization or individual's assets, equity and liabilities at a specific point in time. Individuals and small businesses tend to have simple balance sheets. Larger businesses tend to have more complex balance sheets, and these are presented in the organization's annual report. Large businesses also may prepare balance sheets for segments of their businesses. A balance sheet is often presented alongside one for a different point in time (typically the previous year) for comparison.

Personal balance sheet

A personal balance sheet lists current assets such as cash in checking accounts and savings accounts, long-term assets such as common stock and real estate, current liabilities such as loan debt and mortgage debt due, or overdue, long-term liabilities such as mortgage and other loan debt. Securities and real estate values are listed at market value rather than at historical cost or cost basis. Personal net worth is the difference between an individual's total assets and total liabilities.

US small business balance sheet

Sample Small Business Balance Sheet
Assets		Liabilities and Owners' Equity
Cash	$6,600	Liabilities
Accounts Receivable	$6,200	Notes Payable	$30,000
Tools and equipment	$25,000	Accounts Payable
		Total liabilities		$30,000
		Owners' equity
		Capital Stock	$7,000
		Retained Earnings	$800
		Total owners' equity		$7,800
Total	$37,800	Total		$37,800

A small business balance sheet lists current assets such as cash, accounts receivable, and inventory, fixed assets such as land, buildings, and equipment, intangible assets such as patents, and liabilities such as accounts payable, accrued expenses, and long-term debt. Contingent liabilities such as warranties are noted in the footnotes to the balance sheet. The small business's equity is the difference between total assets and total liabilities.

Public Business Entities balance sheet structure

Guidelines for balance sheets of public business entities are given by the International Accounting Standards Committee (now International Accounting Standards Board) and numerous country-specific organizations/companys.

Balance sheet account names and usage depend on the organization's country and the type of organization. Government organizations do not generally follow standards established for individuals or businesses.

If applicable to the business, summary values for the following items should be included in the balance sheet: Assets are all the things the business owns, this will include property, tools, cars, etc.

Assets

Current assets

Cash and cash equivalents
Accounts receivable
Inventories
Prepaid expenses for future services that will be used within a year

Non-current assets (Fixed assets)

Property, plant and equipment
Investment property, such as real estate held for investment purposes
Intangible assets
Financial assets (excluding investments accounted for using the equity method, accounts receivables, and cash and cash equivalents)
Investments accounted for using the equity method
Biological assets, which are living plants or animals. Bearer biological assets are plants or animals which bear agricultural produce for harvest, such as apple trees grown to produce apples and sheep raised to produce wool.

Liabilities

Liability (accounting)

Accounts payable
Provisions for warranties or court decisions
Financial liabilities (excluding provisions and accounts payable), such as promissory notes and corporate bonds
Liabilities and assets for current tax
Deferred tax liabilities and deferred tax assets
Unearned revenue for services paid for by customers but not yet provided

Equity

The net assets shown by the balance sheet equals the third part of the balance sheet, which is known as the shareholders' equity. It comprises:

Issued capital and reserves attributable to equity holders of the parent company (controlling interest)
Non-controlling interest in equity

Formally, shareholders' equity is part of the company's liabilities: they are funds "owing" to shareholders (after payment of all other liabilities); usually, however, "liabilities" is used in the more restrictive sense of liabilities excluding shareholders' equity. The balance of assets and liabilities (including shareholders' equity) is not a coincidence. Records of the values of each account in the balance sheet are maintained using a system of accounting known as double-entry bookkeeping. In this sense, shareholders' equity by construction must equal assets minus liabilities, and are a residual.

Regarding the items in equity section, the following disclosures are required:

Numbers of shares authorized, issued and fully paid, and issued but not fully paid
Par value of shares
Reconciliation of shares outstanding at the beginning and the end of the period
Description of rights, preferences, and restrictions of shares
Treasury shares, including shares held by subsidiaries and associates
Shares reserved for issuance under options and contracts
A description of the nature and purpose of each reserve within owners' equity

Sample balance sheet

The following balance sheet is a very brief example prepared in accordance with IFRS. It does not show all possible kinds of assets, liabilities and equity, but it shows the most usual ones. Because it shows goodwill, it could be a consolidated balance sheet. Monetary values are not shown, summary (total) rows are missing as well.

Balance Sheet of XYZ, Ltd.

As of 31 December 2009

ASSETS

· Current Assets

Cash and Cash Equivalents

Accounts Receivable (Debtors)

Less : Allowances for Doubtful Accounts

Inventories

Prepaid Expenses

Investment Securities (Held for trading)

Other Current Assets

· Non-Current Assets (Fixed Assets)

Property, Plant and Equipment (PPE)

Less : Accumulated Depreciation

Investment Securities (Available for sale/Held-to-maturity)

Investments in Associates

Intangible Assets (Patent, Copyright, Trademark, etc.)

Less : Accumulated Amortization

Goodwill

Other Non-Current Assets, e.g. Deferred Tax Assets, Lease Receivable

LIABILITIES and SHAREHOLDERS' EQUITY

· LIABILITIES

Current Liabilities (Creditors: amounts falling due within one year)

Accounts Payable

Current Income Tax Payable

Current portion of Loans Payable

Short-term Provisions

Other Current Liabilities, e.g. Unearned Revenue, Deposits

· Non-Current Liabilities (Creditors: amounts falling due after more than one year)

Loans Payable

Issued Debt Securities, e.g. Notes/Bonds Payable

Deferred Tax Liabilities

Provisions, e.g. Pension Obligations

Other Non-Current Liabilities, e.g. Lease Obligations

· SHAREHOLDERS' EQUITY

Paid-in Capital

Share Capital (Ordinary Shares, Preference Shares)

Share Premium

Less: Treasury Shares

Retained Earnings

Revaluation Reserve

Accumulated Other Comprehensive Income

Conclusion : in my opinion the balance sheet is part of the financial statements of an entity that resulted in an accounting period that indicates the entity's financial position at the end of the period. Balance consists of three elements, namely assets, liabilities, and equity associated with the accounting equation

Source : http://en.wikipedia.org/wiki/Balance_sheet