Company collapses essays

Company collapses essays Over the years, there have been many situations where companies have decided to inaccurately alter its reporting of costs and measurement of revenue in order to achieve a greater level of profitability on paper. This may have come as a result of the increased level of competition within businesses, which also brought about changes within organisations in general, with organisations looking to new costing systems such as Activity Based Costing (ABC) as a means to increase their levels of efficiency and profitability. Traditional costing systems were seen to be highly inaccurate due to the large focus on labour intensive jobs, however as of late, with the move to less labour intensive focused jobs, it has highlighted the importance of the management and accountants role in reporting costs and measuring its revenue accurately and timely. Although there are no enforceable rules, management and accountants are expected to present a true view of the business financial position, in order to provide those involved with the organization a outlook on the state of the business and the level of profitability. With HIH not recording a great level of its costs, and including revenue in which it shouldnt have, this led to a great outlook on the organisations financial position in which it really didnt have. Although this was good in the short run, it eventually led to the collapse of the business, because the way in which costs were reported, and revenue was measured was not acceptable. Critically evaluate this statement: Since there are apparently no enforceable standards and rules for management and cost accounting, whatever the company and accountants want to do in reporting costs and revenue measurements must be acceptable. Evaluating the above statement requires an in-depth look at the main features of the subject which include management and cost accounting. This essay attempts to highlight the...

13 Successful People Who Overcame Homelessness

13 Successful People Who Overcame Homelessness People so often make assumptions about what homelessness is and means and who falls victim to it. Similarly, they make opposite assumptions about success. Before you decide you know what either means in life, consider this list of rich and famous people who formerly struggled with homelessness. 1. J LoWhen Jennifer Lopez left her mother’s house when she was 18 to become a dancer and lived on her own, some nights sleeping on a cot in a dance studio until she caught her big break.2. Steve JobsYou might not realize that Steve Jobs was a college dropout. He was also homeless for a brief period, having relinquished his dorm room. Leaving college was ultimately the right call for him, but he did have to spend a while collecting soda bottles to be able to afford to buy food for himself.3. JewelJewel lived out of her car as a teenager, and only pulled herself out of that situation when she got her first record deal.4. Sylvester StalloneBefore Rocky, the film star found himself homeles s and had to sell his dog for $50. After he sold the script, he bought his best friend back for $3,000.5. Halle BerryWhen struggling to make it as an actress, Halle Berry spent time in a homeless shelter. She went on to win an Academy Award.6. Chris PrattChris Pratt reportedly spent time living out of a van in Hawaii until he launched his career with Cursed Part 3. 7. Jim CarreyMaybe his great sense of humor comes from the fact that he and his family lived in a VW bus they parked all throughout Canada when he dropped out of high school. They even spent a while living in a tent on his sister’s lawn with their van parked in her driveway.8. Dr. PhilMr. Self Help himself was once homeless, and living in a car with his father in Kansas City as his father completed an internship in psychology.9. Suze OrmanWould you believe the financial self help star was homeless for four months in 1973 and lived out of her car? She’s worth about $35 million now.10. Daniel CraigBond, James Bond used to have to sleep on park benches when he was a struggling actor in London. He’s now 46 and worth over $65 million.11. Ella FitzgeraldElla had some very hard times as a young woman. And indeed was homeless for a period of time just before she headlined at the Apollo theatre in Harlem and debuting her career in 1934.12. Hillary SwankWhen she moved to LA to start her acting career, she and her mother slept in their car.13. Kelly ClarksonThe American Idol star lost her first LA apartment to a fire and had to live out of her car or in shelters before her big audition.