Fundamental concepts and techniques in accounting and finance Essay

Fundamental concepts and techniques in accounting and finance - Essay Example Fundamental concepts and techniques in accounting and finance The field of financial management has experienced gradual but significant change during the twentieth century. During the first two decades of the century, financial managers were concerned mostly with the legal issues surrounding the issuance of stocks and bonds. This focus of attention reflected the primitive nature of the capital markets in the early 1900s, the wave of mergers and consolidations occurring at that time, and the lack of what now is considered routine full disclosure of accounting and financial information about companies offering securities to the public. With the Depression of the 1930s, the main focus of financial management shifted to the defensive aspects of business survival. As we enter the twenty-first century, the most significant trend to impact successful corporate financial management will be the continuing globalization of business in general and financial management in particular. There is no major U.S. or foreign corporations that do business solely within the confines of their own country. The need to deal with multiple currencies, worldwide money and capital markets where investment capital moves across borders at an increasing pace facing fewer and fewer barriers, a wide variety of accounting systems and tax laws, and a multitude of political risk environments is now a normal part of the responsibilities of a corporate financial manager. This globalization of business does not change the fundamental theories of corporate financial management, but it does have a substantial impact on corporate financial practice and domestic financial markets. ... t change the fundamental theories of corporate financial management, but it does have a substantial impact on corporate financial practice and domestic financial markets. The only thing certain about the future is that finance and industry will continue to change, offering new challenges and opportunities to financial managers. The importance of competent financial management to the success and even survival of the modern business organization cannot be overemphasized. It is no accident that presidents and board chairpersons of large, successful corporations increasingly rise to their positions by coming up the "finance side of the house" (Kaplan, 1989). In smaller business, experience has shown that the early survival of a new business and prosperity in its developing stages is strongly dependent on effective financial planning and control. The most common reason cited for the high failure rate experienced by new ventures is lack of financial expertise. Similarly, financial administration is receiving increased attention by governmental units at all levels. Financial management in all types of nonprofit corporations and organizations is also benefiti ng from increased attention. Competent financial planning and management are critical components of success in any organization that brings people together to achieve a common goal. The impact of inflation and high interest rates has focused increased attention on the financial implications of nearly all business decisions. Knowledge of financial management principles and techniques has become even more important during our current era of economic uncertainty. Functional specialists in such diverse areas as marketing, production, and human resources management have environment in which the firm operates. A

Gay Scouts Essay Example | Topics and Well Written Essays - 750 words

Gay Scouts - Essay Example ive perspective maintaining that its legalization stands for an unholy motive since it goes against religious teachings, the proponents maintained that people should not be prejudiced on the base of sexual orientation or preference. This is mostly because gay people had been denied many opportunities because of their sexual preference. Although the issue is highly controversial, legalizing gay scouts is the best option since older ways of prejudice are outdated and a better way of perception ought to be developed since times are changing. One of the reasons why gay-ism ought to be accepted is that even the gays are people who require the support of the society. Gay activists who have been relentless in ensuring that gay people can interact with other people openly through passage of laws that govern their rights for a long time. This is in spite of the idea that this issue had been ignored for decades. The activists also intended to ensure that organizations that mostly sponsor scouts acknowledge them in the society although a significant number of them were against the move to lift the century ban on gay scouts. Although Americans had been divided on this issue, there have been improvements on perception as the gay individuals are becoming more and more accepted in the contemporary society. This has been the main reason why the lift on the ban was possible. The legalization was justified because it has become widely accepted and even banning them does not solve the problem. Acceptance has been identified even in some of the religious institutions that include the United Methodist Church, which is one of the largest religious sponsors with a sponsor capacity of approximately 363,000 scouts (Richter, 2013). This religious institution had a significant influence on the outcome of the ban lift vote because it has many followers who would follow its views making it easy to lift the ban. The lift was also necessary so as to eliminate discrimination of such