Post about "Business"

This post is a practical example of how to handle unethical requests for financial reporting in a business environment. The world of business demands decisions like this one almost daily.? What response is given will determine the way a small business and its employees are perceived and rated in the industry and in the community.

John Smith is the new controller at a pencil manufacturer. The economy has taken a downturn, and jobs like Allen?s are hard to find. After several months he notices a high inventory of outdated, high priced cutting tools. Allen looks at the books and notices a big discrepancy between the book value of the inventory and its real value.

He makes an appointment with the company owner and is told to wait and see if the auditors notice the problem. If they do, he is told to find a way to explain that the items are selling. ?John should ask the owner why he wants him to lie to the auditors.

There is a conflict of integrity with this company president?s request as given.? It opens up Allen to (AllBusiness: A D&B Company, 2010)?liability?? which ??can exist for officers and directors when they cause financial harm to the corporation, act solely on their own behalf and to the detriment of the corporation, or commit a crime or wrongful act?.

As bad as the economy is, a request to lie to auditors could jeopardize Allen?s future integrity as a financial officer in any company.? If the president is a person of integrity, then the request would be rescinded and a meeting with the company sales manager could be called to discuss how to move this outdated hardware either as parts or in a wholesale purchase to a client.

A revision of the financial books would have to be reviewed with legal counsel and any penalties assessed so the true value of the inventory in question could be determined and the financial books balanced again for the auditors.

AllBusiness: A D&B Company. (2010, February 15). Liability Issues for Officers and Directors. Retrieved February 15, 2010, from www.allbusiness.com: http://www.allbusiness.com/business-planning-structures/business-structures/513-1.html

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Source: http://larrysgunter.com/2011/10/04/business-ethics-financial-reporting/

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Friday, September 9th, 2011 at 10:59am

Posted by Jeneliya Fernando

The internet has indeed opened so many doors of opportunities for everyone, especially the concept of running a retail store online. What?s really amazing about having an online retail store business is that you can deal with every aspect of your retail business over the internet. If you need to advertise your product, for example, the internet is a powerful marketing tool you can use.

And for payments from your customers, almost any credit card transaction can now be conducted over the internet. The most important thing in this business, like if you want to sell clothes online, is to have a plan of action for your business operations.

In comparison ti putting up a business offline, there are not so many requirements needed for online businesses. Online businesses are not regulated as of yet, so you would just need to focus on how to set it up and have it running. What you should think about first is where your products will come from. Should you be considering to sell clothes or sell electronics online, make sure you contact an authorized wholesale dealer first.

You will also find a number of major stores online that offer affiliate partnerships. Being an affiliate, you will have access to all their product lines and you will get updated every once in awhile about the changes of prices of products, similar to when there are sale events. In case you are thinking about selling clothes online, it?s best to sign up to affiliate accounts in a number of clothing companies online. This will give your retail store a wide variety of products to sell.

Learn about how internet marketing works so you won?t waste time by doing something inappropriate or ineffective. Keep in mind that your shop is actually your website. So make sure it gets a lot of viewers and potential buyers. Ultimately, do not forget that once you sell clothes online or other products, it?s vital that you make your customers happy. Deliver your goods promptly, be considerate in dealing with consumers, and make the quality of your services and products high.

Selling clothes online or other goods isn?t that difficult. Using the right information about how to sell clothes online, it is possible to see your business grow and flourish. Go here to find out more on the guidelines on how to sell clothes online.

Source: http://floridaelectionresults.com/2011/09/09/tips-on-starting-an-online-retail-business/

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posted by Philip Harman on August 17, 2011

Question by yeaaa: Double major in business accounting and political science?
I can?t decide whether I want to major in political science or business accounting. Would it be beneficial to major in both? How much bigger of a workload would that be, compared to the 15 hours a semester and 12 hours every summer that I am taking right now? And would I finish both majors in around 4 years?

Best answer:

Answer by The Girl is Trying
I think it?s great that you want to learn so much becaue success in college is directly related to that desire so good for you.
BUT, a double major in accoutning and poli sci doesn?t really sound like something that would benefit you in the long run unless you have a specific career goal that includes both of those. Honestly, I can?t really think of anything!
Are you taking core classes right now? Perhaps you could take a course from each of those disciplines and see which one you have a true passion for and would want to practice for the rest of your life. I can say from experience that you will find many more job opporutnities with a degree in accounting than political science. However, if you?re interesting in going on to graduate school, law school, or to get your phd then political science would be a good choice.
However, if you would like to start working when you get out of undergraduate, then accounting is the way to go. you can still go on to get your MBA or Masters in Accoutning if you choose to but it is not required in order to find employment.
When you choose to double major then you are choosing to lengthen your stay in college by at least a year. You?ll have to bump up to 18 hours a semester and still probably spend more time in school. Sometimes it takes people 5 years just to earn one degree so imagine how much time you will spend in college working on 2!
Perhaps you could do a major in accoutning with a minor in political science. That would be more sensible and perhaps take you closer to the 4 year goal you are shooting for.
Please remember that your undergraduate degree is important in specific industry fields like accounting, finance, and general business. However, an undergraduate degree in english, political science, psychology, etc. is usually not enough to get you a job in those fields. Those that succeed in those fields usually go on to graduate school to add on to their knowledge and gain acceptance among their peers.
I basically do not think that you?re using your time wisely with a double major in those fields. You will find that the political science degree may be something enjoyable that you find interesting but will not pay off in the long run. It will only require that you spend more money and time investing in your undergraduate degree. That?s probably not the best idea.
I would visit your career counseling center for more information or talk to professors in each of your disciplines for more information and guidance. Perhaps they can suggest a field of study that you would be interested in that combines both aspects of those disciplines.
Good luck and I hope I helped a little

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Tags: Accounting | Business | Double | Major | Political | Science

Source: http://videos4you.com/blog/2011/08/17/double-major-in-business-accounting-and-political-science/

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