Risk Management Assignment On Ing Vysya Bank Finance Essay - Free Essay Example

Sample details Pages: 3 Words: 1000 Downloads: 2 Date added: 2017/06/26 Category Finance Essay Type Narrative essay Did you like this example? A Brief about ING Vysya Bank. NG has gained recognition for its integrated approach of banking, insurance and asset management. Furthermore, the company differentiates itself from other financial service providers by successfully establishing life insurance companies in countries with emerging economies, such as Korea, Taiwan, Hungary, Poland, Mexico and Chile. Don’t waste time! Our writers will create an original "Risk Management Assignment On Ing Vysya Bank Finance Essay" essay for you Create order Another specialisation is ING Direct, an Internet and direct marketing concept with which ING is rapidly winning retail market share in mature markets. Finally, ING distinguishes itself internationally as a provider of employee benefits, i.e. arrangements of nonwage benefits, such as pension plans for companies and their employees. Banks need a sense of caution in a Liberal credit environment, but they also need the courage and wisdom to take reasonable risks when credit is tight. Financial institutions succeed as long as the risks they assume are prudent and within defined parameters of portf olio objectives. This means policies and procedures must ensure that exposures are properly identified, monitored, and controlled, and that loan pricing, terms, and other safeguards against non-performance or default are commensurate with the Levels of risk that banks assume. Bank failures are the result of lax credit standards, ineffectual portfolio risk policies, risks assumed beyond li mits of a banks capital, misreading performance barometers and neglecting technological upgrades (both system wide and specific), loan exposure, and ineffective risk rating systems. As we shall see, banks have come under increased regulatory scrutiny with many incurring losses on loan write-offs. An internationally known bank surveyed its problem loan portfolio and came up with a pattern of root causes. ING Vysya Bank Risk Profile Economic Capital ING Bank One of the main risk management instruments for ING Bank is Economic Capital which is used to provide the amount of capital that a transaction or business unit requires to support the economic risks that it faces. ING Vysya Bank implemented Economic Capital for internal usage in 1998. Since 1999, ING Bank has been disclosing Economic Capital information externally. The tables below provide ING Banks Economic Capital by risk type and business line. Figures shown reflect all diversification effects within ING Bank, including reduction of Risk between the different types of risk. Diversification effects that arise as a result of combining ING Bank and ING Insurance activities are not taken into account. Business risk is included in the other risks category to cover unexpected losses that may arise as a result of changes in volumes, margins and costs. The ING Bank Economic Capital model is explained in detail in the Model Disclosure section. The following table provides the Econo mic Capital break down by risk category including diversification benefits proportionally allocated to the risk types: Economical Capital by Risk Category Types of risk faced by ING Bank 2008 2007 Credit risk 8686 7503 Market risk Liquidity Risk 10349 7407 Operational Risk business Risk 3372 3017 Total Banking Operations 22407 17927 Risks that are faced by ING bank. Credit Risk :- Market Risk and Liquidity Risk:- Operational Risk as well as Business Risk Interest Rate risk :- Risk Mitigation Æ’ÂÂ  Reduction of credit risk :- In January 2009, ING Group entered into an Illiquid Assets Back-up Facility term sheet with the Dutch State covering INGs Alt-A Residential Mortgage Backed Securities (RMBS) portfolio. Through this way of transaction, which is expected to close in the first quarter of 2009, subject to final documentation and regulatory approval, the Dutch State will become the economic owner of 80% of the Alt-A RMBS portfolio. This transaction is expected to be concluded at 90% of the par value with respect to the 80% portion of the portfolio of which the Dutch State will become the economic owner. Par value of the portfolio is approximately EUR 30 billion. Following the deteriorated economic outlook in the third and fourth quarter market prices for these securities had become depressed as liquidity dried up, which had an impact on INGs results and equity far in excess of estimated credit losses. The transaction with the Dutch State is expected to significantly reduce the uncertainty regarding the impact on ING of any future losses in the portfolio. As condition to the Facility ING will commit to support the growth of the Dutch lending business for an amount of EUR 25 billion at market-conforming conditions. The Dutch State will also acquire certain consent rights with respect to the sale or transfer of the 20% proportion of the Alt-A RMBS portfolio that is retained by ING. Æ’ÂÂ  Interest Rate Risk ING sold ING Life to other countries like Taiwan which resulted into a significant decrease of its interest rate risk exposure. This investment was in line with the strategy to allocate fund to those businesses that generate the higher profits. Further, ING has spread its asset duration in order to mitigate the impact of declining interest rates, herewith further reducing its interest rate risk exposure. Æ’ÂÂ  Operational Risk and Business risk :- The overall increase in Economic Capital is mainly due to the inclusion of the core equity investments in market risk Economic Capital Bank, whereas previously it was taken as an add-on at Group level. Furthermore the increased Economic Capital can be explained by credit migrations, increased market volatility and model enhancements. So By this way, they are reducing their operational and business risk. Æ’ÂÂ  Market Risk and Liquidity risk :- ING Bank addresses all the types of market risks, namely, liquidity risk, interest rate risk through a well-explained set of policies and procedures. Separate treatment is given to management of risks in trading ledgers and bank book recognising their differential impact on the balance sheet. The trading ledgers risks, which are more doubtful to market movements, are continuously measured and managed by marking the positions to the available market rates. In order to assess the likely impact of market movements, periodic analysis of the trading book is carried out on the basis of positions based on changes in market rates, past trends, stress tests through rate shocks, scenario analysis, etc. The overall positions and functions of market risks are run under the policy framework defined in Asset-Liability Management (ALM) Policy, Market Risk Policy and Investment Policy.

Essay about The Tragic Hero in Death and the King’s Horseman

TOPIC: Who is , Elesin Oba or Olunde? Please give reasons for your answer in a carefully written essay. Please use â€Å"Being, the Will, and the Semantics of Death† by Henry Louis Gates, Jr. (Criticism 155-164) and â€Å"Tragedy, Mimicry, and the African World† by Olakunle George (Criticism 207-222) in your essay. The Real Tragic Hero Of The Nation The drama â€Å"Death and the King’s Horseman† written by Wole Soyinka tells a story that relates to the burial of the dead king of the Oyo, which is held by the ancient Yoruba in Africa. According to the tradition of the Yoruba, after thirty-day of the king’s death, his horseman Elesin must commit suicide in the rite in order to accompany the king passing through the holy passage towards†¦show more content†¦That is the most contrasting concept under a common society. For some degree, it is reliable that this colonial factor is catalytic merely, but leading to the final conclusion, it is an indispensable element which embodies the spirit of resisting of Yoruba through their metaphysics against the ideology control from the western. The traditional Yoruba people believe in their own collective culture and fight against the conflict western perception unswervingly. Accounted for this, Elesin’s fail becomes more unacceptable for the sake of the raci al conscious, in other words, it is a kind of betraying of the public towards his fail and hesitation. This insults in his miserable condition ultimately-to be humiliated and despised by the public. On the other hand, the main part of Elesin’s tragic fate originates from his own flaws. Elesin is just an ordinary person who has the pursuit of various things such as food and wine, dance and women. However, everyone believes that Elesin is the hero born with his mission to lead them peace and also with no selfish motives. When he is in the market with women and Praise-singer, he indicates that the others compare his eyes into a hawk in perpetual hunger. â€Å"Split an iroko tree in two, hide a woman’s beauty in its heartwood and seal it up again-Elesin, journeying by, would make his camp beside that tree of all the shades in the forest.†(14) This is a vivid description of Elesin’s desire of the living world. Even in the farewell, heShow MoreRelatedExistential Anxiety Via Self Preservation Essay1826 Words   |  8 Pagesbasic definition, an existential crisis occurs when a person feels out of touch with their place in the world. They question why they are here as well as what determines their leaving. In Leo Tolstoy’s Hadji Murat and Wole Soyinka’s Death and the King’s Horseman, two characters experience a similar reaction after failing to conform to societal expectations. For example, in Hadji Murat, the titular character’s shifting allegiance depends on whatever is in the best interest of his family.

The Twilight Saga 2 New Moon Chapter 22 FLIGHT Free Essays

DEMETRI LEFT US IN THE CHEERFULLY OPULENT RECEPTION area, where the woman Gianna was still at her post behind the polished counter. Bright, harmless music tinkled from hidden speakers. â€Å"Do not leave until dark,† he warned us. We will write a custom essay sample on The Twilight Saga 2: New Moon Chapter 22 FLIGHT or any similar topic only for you Order Now Edward nodded, and Demetri hurried away. Gianna did not seem at all surprised by the exchange, though she did eye Edward’s borrowed cloak with shrewd speculation. â€Å"Are you all right?† Edward asked under his breath, to low for the human woman to hear. His voice was roughif velvet can be roughwith anxiety. Still stressed by our situation, I imagined. â€Å"You’d better make her sit before she falls,† Alice said. â€Å"She’s going to pieces.† It was only then that I realize I was shaking, shaking hard, my entire frame vibrating until my teeth chattered and the room around me seemed to wobble and blur in my eyes. For one wild second, I wondered if this was how Jacob felt just before exploding into a werewolf. I heard a sound that didn’t make sense, a strange, ripping counterpart to the otherwise cheery background music. Distracted by the shaking, I couldn’t tell where it was coming from. â€Å"Shh, Bella, shh,† Edward said as he pulled me to the sofa farthest away from the curious human at the desk. â€Å"I think she’s having hysterics. Maybe you should slap her,† Alice suggested. Edward threw a frantic glance at her. Then I understood. Oh. The noise was me. The ripping sound was the sobs coming from my chest. That’s what was shaking me. â€Å"It’s all right, you’re safe, it’s all right,† he chanted again and again. He pulled ne onto his lap and tucked the thick wool cloak around me, protecting me from his cold skin. I knew it was stupid to react like this. Who knew how much time I had to look at his race? He was saved, and I was saved, and he could leave me as soon as we were free. To have my eyes so filled with tears that I could not see his features clearly was wastefulinsanity. But, behind my eyes where the tears could not wash the image away, I could still see the panicked face of the tiny woman with the rosary. â€Å"All those people,† I sobbed. â€Å"I know,† he whispered. â€Å"It’s so horrible.† â€Å"Yes, it is. I wish you hadn’t had to see that.† I rested my head against his cold chest, using the thick cloak to wipe my eyes. I took a few deep breaths, trying to calm myself. â€Å"Is there anything I can get you?† a voice asked politely. It was Gianna, leaning over Edward’s shoulder with a look that was both concerned and yet still professional and detached at the same time. It didn’t seem to bother her that her face was inches from a hostile vampire. She was either totally oblivious, or very good at her job. â€Å"No,† Edward answered coldly. She nodded, smiled at me, and then disappeared. I waited until she was out of hearing range. â€Å"Does she know what’s going on here?† I demanded, my voice low and hoarse. I was getting control of myself, my breathing evening out. â€Å"Yes. She knows everything,† Edward told me. â€Å"Does she know they’re going to kill her someday?† â€Å"She’s knows it’s a possibility,† he said. That surprised me. Edward’s face was hard to read. â€Å"She’s hoping they’ll decide to keep her.† I felt the blood leave my face. â€Å"She wants to be one of them?† He nodded once, his eyes sharp on my face, watching my reaction. I shuddered. â€Å"How can she want that?† I whispered, more to myself than really looking for an answer. â€Å"How can she watch those people file through to that hideous room and want to be a part of that?† Edward didn’t answer. His expression twisted in response to something I’d said. As I stared at his too beautiful face, trying to understand the change, it suddenly struck me that I was really here, in Edward’s arms, however fleetingly, and that we were notat this exact momentabout to be killed. â€Å"Oh, Edward,† I cried, and I was sobbing again. It was such a stupid reaction. The tears were too thick for me to see his face again, and that was inexcusable. I only had until sunset for sure. Like a fairy tale again, with deadlines that ended the magic. â€Å"What’s wrong?† he asked, still anxious, rubbing my back with gentle pats. I wrapped my arms around his neckwhat was the worst he could do? Just push me awayand hugged myself closer to him. â€Å"Is it really sick for me to be happy right now?† I asked. My voice broke twice. He didn’t push me away. He pulled me tight against his ice-hard chest, so tight it was hard to breathe, even with my lungs securely intact. â€Å"I know exactly what you mean,† he whispered. â€Å"But we have lots of reasons to be happy. For one, we’re alive.† â€Å"Yes,† I agreed. â€Å"That’s a good one.† â€Å"And together,† he breathed. His breath was so sweet it made my head swim. I just nodded, sure that he did not place the same weight on that consideration as I did. â€Å"And, with any luck, we’ll still be alive tomorrow.† â€Å"Hopefully,† I said uneasily. â€Å"The outlook is quite good,† Alice assured me. She’d been so quiet, I’d almost forgotten her presence. â€Å"I’ll see Jasper in less than twenty-four hours,† she added in a satisfied tone. Lucky Alice. She could trust her future. I couldn’t keep my eyes off of Edward’s face for long. I stared at him, wishing more than anything that the future would never happen. That this moment would last forever, or, if it couldn’t, that I would stop existing when it did. Edward stared right back at me, his dark eyes soft, and it was easy to pretend that he felt the same way. So that’s what I did. I pretended, to make the moment sweeter. His fingertips traced the circles under my eyes. â€Å"You look so tired.† â€Å"And you look thirsty,† I whispered back, studying the purple bruises under his black irises. He shrugged. â€Å"It’s nothing.† â€Å"Are you sure? I could sit with Alice,† I offered, unwilling; I’d rather he killed me now than move one inch from where I was. â€Å"Don’t be ridiculous.† He sighed; his sweet breath caressed my face. â€Å"I’ve never been in better control of that side of my nature than right now.† I had a million questions for him. One of them bubbled to my lips now, but I held my tongue. I didn’t want to ruin the moment, as imperfect as it was, here in this room that made me sick, under the eyes of the would-be monster. Here in his arms, it was so easy to fantasize that he wanted me. I didn’t want to think about his motivations nowabout whether he acted this way to keep me calm while we were still in danger, or if he just felt guilty for where we were and relieved that he wasn’t responsible for my death. Maybe the time apart had been enough that I didn’t bore him for the moment. But it didn’t matter. I was so much happier pretending. I lay quiet in his arms, re-memorizing his face, pretending He stared at my face like he was doing the same, while he and Alice discussed how to get home. Their voices were so quick and low that I knew Gianna couldn’t understand. I missed half of it myself. It sounded like more theft would be involved, though. I wondered idly if the yellow Porsche had made it back to its owner yet. â€Å"What was all that talk about singers?† Alice asked at one point. â€Å"La tua cantante,† Edward said. His voice made the words into music. â€Å"Yes, that,† Alice said, and I concentrated for a moment. I’d wondered about that, too, at the time. I felt Edward shrug around me. â€Å"They have a name for someone who smells the way Bella does to me. They call her my singerbecause her blood sings for me.† Alice laughed. I was tired enough to sleep, but I fought against the weariness. I wasn’t going to miss a second of the time I had with him. Now and then, as he talked with Alice, he would lean down suddenly and kiss mehis glass-smooth lips brushing against my hair, my forehead, the tip of my nose. Each time it was like an electric shock to my long dormant heart. The sound of its beating seemed to fill the entire room. It was heavenright smack in the middle of hell. I lost track of the time completely. So when Edward’s arms tightened around me, and both he and Alice looked to the back of the room with wary eyes, I panicked. I cringed into Edward’s chest as Alechis eyes now a vivid ruby, but still spotless in his light gray suit despite the afternoon mealwalked through the double doors. It was good news. â€Å"You’re free to leave now,† Alec told us, his tone so warm you’d think we were all lifelong friends. â€Å"We ask that you don’t linger in the city.† Edward made no answering pretence; his voice was ice cold. â€Å"That won’t be a problem.† Alec smiled, nodded, and disappeared again. â€Å"Follow the right hallway around the corner to the first set of elevators,† Gianna told us as Edward helped me to my feet. â€Å"The lobby is two floors down, and exits to the street. Goodbye, now,† she added pleasantly. I wondered if her competence would be enough to save her. Alice shot her a dark look. I was relieved there was another way out; I wasn’t sure if I could handle another tour through the underground. We left through a tastefully luxurious lobby. I was the only one who glanced back at the medieval castle that housed the elaborate business facade I couldn’t see the turret from here, for which I was grateful. The party was still in full swing in the streets. The street lamps were just coming on as we walked swiftly through the narrow, cobbled lanes. The sky was a dull, fading gray overhead, but the buildings crowded the streets so closely that it felt darker. The party was darker, too. Edward’s long, trailing cloak did not stand out in the way it might have on a normal evening in Volterra. There were others in black satin cloaks now, and the plastic fangs I’d seen on the child in the square today seemed to be very popular with the adults. â€Å"Ridiculous,† Edward muttered once. I didn’t notice when Alice disappeared from beside me. I looked over to ask her a question, and she was gone. â€Å"Where’s Alice?† I whispered in a panic. â€Å"She went to retrieve your bags from where she stashed them this morning.† I’d forgotten that I had access to a toothbrush. It brightened my outlook considerably. â€Å"She’s stealing a car, too, isn’t she?† I guessed. He grinned. â€Å"Not till we’re outside.† It seemed like a very long way to the entryway. Edward could see that I was spent; he wound his arm around my waist and supported most of my weight as we walked. I shuddered as he pulled me through the dark stone archway. The huge, ancient portcullis above was like a cage door, threatening to drop on us, to lock us in. He led me toward a dark car, waiting in a pool of shadow to the right of the gate with the engine running. To my surprise, he slid into the backseat with me, instead of insisting on driving. Alice was apologetic. â€Å"I’m sorry.† She gestured vaguely toward the dashboard. â€Å"There wasn’t much to choose from.† â€Å"It’s fine, Alice.† He grinned. â€Å"They can’t all be 911 Turbos.† She sighed. â€Å"I may have to acquire one of those legally. It was fabulous.† â€Å"I’ll get you one for Christmas,† Edward promised. Alice turned to beam at him, which worried me, as she was already speeding down the dark and curvy hillside at the same time. â€Å"Yellow,† she told him. Edward kept me tight in his arms. Inside the gray cloak, I was warm and comfortable. More than comfortable. â€Å"You can sleep now, Bella,† he murmured. â€Å"It’s over.† I knew he meant the danger, the nightmare in the ancient city, but I still had to swallow hard before I could answer. â€Å"I don’t want to sleep. I’m not tired.† Just the second part was a lie. I wasn’t about to close my eyes. The car was only dimly lit by the dashboard controls, but it was enough that I could see his face. He pressed his lips to the hollow under my ear. â€Å"Try,† he encouraged. I shook my head. He sighed. â€Å"You’re still just as stubborn.† I was stubborn; I fought with my heavy lids, and I won. The dark road was the hardest part; the bright lights at the airport in Florence made it easier, as did the chance to brush my teeth and change into clean clothes; Alice bought Edward new clothes, too, and he left the dark cloak on a pile of trash in an alley. The plane trip to Rome was so short that there wasn’t really a chance for the fatigue to drag me under. I knew the flight from Rome to Atlanta would be another matter entirely, so I asked the flight attendant if she could bring me a Coke. â€Å"Bella,† Edward said disapprovingly. He knew my low tolerance for caffeine. Alice was behind us. I could hear her murmuring to Jasper on the phone. â€Å"I don’t want to sleep,† I reminded him. I gave him an excuse that was believable because it was true. â€Å"If I close my eyes now, I’ll see things I don’t want to see. I’ll have nightmares.† He didn’t argue with me after that. It would have been a very good time to talk, to get the answers I neededneeded but not really wanted; I was already despairing at the thought of what I might hear. We had an uninterrupted block of tirre ahead of us, and he couldn’t escape me on an airplanewell, not easily, at least. No one would hear us except Alice; it was late, and most of the passengers were turning off lights and asking for pillows in muted voices. Talk would help me fight off the exhaustion. But, perversely, I bit my tongue against the flood of questions. My reasoning was probably flawed by exhaustion, but I hoped that by postponing the discussion, I could buy a few more hours with him at some later timespin this out for another night, Scheherazade-style. So I kept drinking soda, and resisting even the urge to blink. Edward seemed perfectly content to hold me in his arms, his fingers tracing my face again and again. I touched his face, too. I couldn’t stop myself, though I was afraid it would hurt me later, when I was alone again. He continued to kiss my hair, my forehead, my wrists but never my lips, and that was good. After all, how many ways can one heart be mangled and still be expected to keep beating? I’d lived through a lot that should have finished me in the last few days, but it didn’t make me feel strong. Instead, I felt horribly fragile, like one word could shatter me. Edward didn’t speak. Maybe he was hoping I would sleep. Maybe he had nothing to say. I won the fight against my heavy lids. I was awake when we reached the airport in Atlanta, and I even watched the sun beginning to rise over Seattle’s cloud cover before Edward slid the window shut. I was proud of myself. I hadn’t missed one minute. Neither Alice nor Edward was surprised by the reception that waited for us at Sea-Tac airport, but it caught me off guard. Jasper was the first one I sawhe didn’t seem to see me at all. His eyes were only for Alice. She went quickly to his side; they didn’t embrace like other couples meeting there. They only stared into each other’s faces, yet, somehow, the moment was so private that I still felt the need to look away. Carlisle and Esme waited in a quiet corner far from the line for the metal detectors, in the shadow of a wide pillar. Esme reached for me, hugging me fiercely, yet awkwardly, because Edward kept his arms around me, too. â€Å"Thank you so much,† she said in my ear. Then she threw her arms around Edward, and she looked like she would be crying if that were possible. â€Å"Youwill never put me through :hat again,† she nearly growled. Edward grinned, repentant. â€Å"Sorry, Mom.† â€Å"Thank you, Bella,† Carlisle said. â€Å"We owe you.† â€Å"Hardly,† I mumbled. The sleepless night was suddenly overpowering. My head felt disconnected from my body. â€Å"She’s dead on her feet,† Esme scolded Edward. â€Å"Let’s get her home.† Not sure if home was what I wanted at this point, I stumbled, half-blind, through the airport, Edward dragging me on one side and Esme on the other. I didn’t know if Alice and Jasper were behind us or not, and I was too exhausted to look. I think I was mostly asleep, though I was still walking, when we reached their car. The surprise of seeing Emmett and Rosalie leaning against the black sedan under the dim lights of the parking garage revived me some. Edward stiffened. â€Å"Don’t,† Esme whispered. â€Å"She feels awful.† â€Å"She should,† Edward said, making no attempt to keep his voice down. â€Å"It’s not her fault,† I said, my words garbled with exhaustion. â€Å"Let her make amends,† Esme pleaded. â€Å"We’ll ride with Alice and Jasper.† Edward glowered at the absurdly lovely blond vampire waiting for us. â€Å"Please, Edward,† I said. I didn’t want to ride with Rosalie any more than he seemed to, but I’d caused more than enough discord in his family. He sighed, and towed me toward the car. Emmett and Rosalie got in the front seat without speaking, while Edward pulled me in the back again. I knew I wasn’t going to be able to fight my eyelids anymore, and I laid my head against his chest in defeat, letting them close. I felt the car purr to life. â€Å"Edward,† Rosalie began. â€Å"I know.† Edward’s brusque tone was not generous. â€Å"Bella?† Rosalie asked softly. My eyelids fluttered open in shock. It was the first time she’d ever spoken directly to me. â€Å"Yes, Rosalie?† I asked, hesitant. â€Å"I’m so very sorry, Bella. I feel wretched about every part of this, and so grateful that you were brave enough to go save my brother after what I did. Please say you’ll forgive me.† The words were awkward, stilted because of her embarrassment, but they seemed sincere. â€Å"Of course, Rosalie,† I mumbled, grasping at any chance to make her hate me a little less. â€Å"It’s not your fault at all. I’m the one who jumped off the damn cliff. Of course I forgive you.† The words came out like mush. â€Å"It doesn’t count until she’s conscious, Rose,† Emmett chuckled. â€Å"I’m conscious,† I said; it just sounded like a garbled sigh. â€Å"Let her sleep,† Edward insisted, but his voice was a little warmer. It was quiet then, except for the gentle thrum of the engine. I must have fallen asleep, because it seemed like seconds later when the door opened and Edward was carrying me from the car. My eyes wouldn’t open. At first I thought we were still at the airport. And then I heard Charlie. â€Å"Bella!† he shouted from some distance. â€Å"Charlie,† I mumbled, trying to shake off the stupor. â€Å"Shh,† Edward whispered. â€Å"It’s okay; you’re home and safe. Just sleep.† â€Å"I can’t believe you have the nerve to show your face here.† Charlie bellowed at Edward, his voice much closer now. â€Å"Stop it, Dad,† I groaned. He didn’t hear me. â€Å"What’s wrong with her?† Charlie demanded. â€Å"She’s just very tired, Charlie,† Edward assured him quietly. â€Å"Please let her rest.† â€Å"Don’t tell me what to do!† Charlie yelled. â€Å"Give her to me. Get your hands off her!† Edward tried to pass me to Charlie, but I clung to him with locked, tenacious fingers. I could feel my dad yanking on my arm. â€Å"Cut it out, Dad,† I said with more volume. I managed to drag my lids back to stare at Charlie with bleary eyes. â€Å"Be mad at me.† We were in front of my house. The front door was standing open. The cloud cover overhead was too thick to guess at a time of day. â€Å"You bet I will be,† Charlie promised. â€Å"Get inside.† i'†Kay. Let me down,† I sighed. Edward set me on my feet. I could see that I was upright, but I couldn’t feel my legs. I trudged forward anyway, until the sidewalk swirled up toward my face. Edward’s arms caught me before I hit the concrete. â€Å"Just let me get her upstairs,† Edward said. â€Å"Then I’ll leave.† â€Å"No,† I cried, panicking. I hadn’t got my answers yet. He had to stay for at least that much, didn’t he? â€Å"I won’t be far,† Edward promised, whispering so low in my ear that Charlie didn’t have a hope of hearing. I didn’t hear Charlie answer, but Edward headed into the house. My open eyes only made it till the stairs. The last thing I felt was Edward’s cool hands prying my fingers loose from his shirt. How to cite The Twilight Saga 2: New Moon Chapter 22 FLIGHT, Essay examples

Challenges and Barriers of Accounting-Free-Samples for Students

Question: Discuss about the Challenges of Accounting in Global Organizations. Answer: Introduction Accounting is one of the most integral parts of finance with the help of which an individual intends to identify record, measure and classify the financial information in order to maintain proper database in business profitability. Providing a good quality of services as well as products to the customers is not the only responsibility for a business organization for gaining international image and reputation. The business experts in order to maintain a global business in different geographical locations should focus on business profitability as well as employees performance. Accounting is the systematic way of maintaining both internal as well as external data record with the help of which the entire performance level of the organization can be evaluated. In this specific study the primary concern is to evaluate some of the major challenges that business experts are facing at the workplace while implementing accounting within their business process. Project Objective This specific study aims to evaluate the challenges of Accounting in Global Organizations. The primary objectives of this particular study are as follow: To critically evaluate the challenges and barriers that business experts have to face while implementing accounting within global organization To critically understand the overall impact of accounting in enhancing the overall performance level of the global organization To provide some of the major recommendations on how those identified challenges can be overcome by implementing necessary business strategies as well as policies Project Scope It has been observed that in last five years global business organizations intend to maintain entire process of database by using accounting software for maintaining a proper accuracy within data and information. After the implementation of accounting within the organization global business organizations are facing several challenges in maintaining a proper data record due to some important reasons (Hodges 2012). One of the most raising issues that global organizations are facing currently ensures the lack of technological skills. Large number of senior employees is associated within the global business organizations that are not compatible enough in maintaining financial data record with the help of software. As a result, those kinds of employees are facing innumerable difficulties in providing services within proper time. As a result, the entire flow of business is getting slow day by day. In order to run an international business the entire structure of tax compliance system is very much crucial. The finance executives have to follow different tax systems, tax rate and compliance requirements (Guthrie, Burritt and Evans 2012). In this kind of situation the finance executives have to face innumerable challenges while following the tax regulations of different geographical countries. Accounting is the key to maximize revenue. The entire data storage procedure is maintained systematically and chronologically only when people are flexible enough in operating data. An effective issue has been identified on behalf of the practitioners that employees are not very much flexible in handling overall database due to the lack of technological efficiency (He, Wong and Young 2012). In this kind of situation, the global business organizations are facing innumerable challenges in maintaining their entire process of business in the global market. Literature Review Previous literature review Balakrishnan, K., Watts, R. and Zuo, L., 2016. The effect of accounting conservatism on corporate investment during the global financial crisis.Journal of Business Finance Accounting,43(5-6), pp.513-542. The article highlights the importance of accounting on a global basis. The purpose of this article was to examine the relationship between accounting and the crisis. This paper critically analysis that may be the implications of accounting must not be properly done on a global basis but accounting plays a very influential role in every organization on a global basis. The accounting development is mostly done in response to the economic pressure within any organization but after enabling accounting system in the organization, it emancipates the further development of the organization. This article reviews the importance of accounting on a global basis until the year of 2012 and states that on global context the transformation of accounting system is based on many factors, which are the social and political pressures. Through this article, we get to know the necessity of accounting in global organization, which is that Accounting helps every organization on a global basis to keep recor ds of all the monetary transactions. The international accounting regulation is the sole regulation that helps in the incorporation of the accounting database in every organization. This article also discusses that the accounting system of every organization is the set of records that helps the organization in crisis management and experience a better financial environment within the organization. In this article, it is found that accounting rules seems to be very critical at the time of credit crisis and this is marked as a very reinforcing factor in the crisis period. From this article, this can be known that there is a vast importance of accounting in global organization and for the chosen topic; this article will help in determining the importance. This article does not clearly identify the reason behind the importance of accounting in the global context, which is necessary as having the reason will help the system to be updated with the changing demographics of the world. Importance of accounting on global organization Accounting on a global basis facilitates the international financial regulatory framework and globalization on the other hand is very important issue that has grabbed the hold of the economic state of the world (Beatty and Liao 2014). Implementing of accounting system in the organizations has rendered a profit for the business experts and that is the maintenance of a proper data and information with the help of accounting software. The emerging global system would have failed if accounting was not a part of the organization and that is why the board of the international accounting standard has initiated the development of the accounting system on a global basis (Hall and Lawson 2014). This is to incorporate the set of rules, which are understandable and transparent and have no problem in incorporating the system in organization to have the records of the financial statements. Accounting is an effective key, which helps in maximizing revenue. The data storage procedure of accounting i s maintained systematically and chronologically only when people are flexible enough in operating data. However, the employees face an effective issue has been identified on behalf of the practitioners that employees are not very much flexible in handling overall database due to the lack of technological efficiency (Apostolou et al. 2015). In this kind of situation, the global business organizations are facing innumerable challenges in maintaining their entire process of business in the global market. After the implementation of accounting system within the organization global organizations, it is seen that they are facing several challenges in maintaining a proper data record due to some important reasons. One of the most disturbing issues that global organizations are facing currently ensures the lack of technological skills. There are large number of senior employees who are associated within the global business organizations but they are not still comfortable enough to maintain the record of the financial data with the help of accounting software (Baker, Bloom and Davis 2016). The reason behind why the global organization needs incorporation of accounting system is to note the movement of the funds of the organization in the capital market. This is because in order to maintain the organizations capital recorded pro perly, every organization needs to have a record of their economic performance. This will keep the account of the economic transaction of the organization for the crisis period (Cingano 2014). The accounting system is a costly process. Many countries are seen to upgrade their national accounting standards to the international accounting standards to avoid any future crisis while being a part of the global market. There are still many organizations that fail to keep the actual records of the companys transaction and faces many problems (Claessens 2015). Hence, it is recommended that all the company should have the record of their transaction so that they can be efficient enough to dwell in the global market. The accounting system will help them to have their own records which will lead to increase in profit and for the employees who are not efficient enough to keep the records, training must be conducted so that they can be aware of the fact about how to keep the records of the trans actions (Lusardi and Mitchell 2014). Challenges of accounting on global organization As emphasized by Bebbington, Unerman and O'Dwyer (2014), numerous business experts have faced innumerable challenges in using accounting within the global business organization. This particular scholar believes that a financial reporting system with the support of proper governance, sound regulatory system and systematic auditing system is the key way for economic development. Business executives who are associated with the finance department should know how to operate accounting for maintaining a systematic financial transaction. However, in order to run the entire process of business global organizations have faced innumerable challenges in maintaining a proper financial record properly. The challenges are as follows: Different regulations and legislations: Papaspyropoulos et al. (2012) Tax regulation varies from one country to another. Business experts have to follow different forms of tax legislation belonging to different geographical countries. While maintaining the financial record the finance executives should have an in-depth overview about the taxation policies. Based on the regulation the fianc executives have to maintain database. Therefore, the business executives have to get an in-depth overview about the tax rate policies of different countries for maintaining the data record. In most of the cases business executives do not have detailed knowledge about the taxation policies. Automatically, maintaining a systematic data record on the overall business process has become a major issue for the finance executives. Finding efficient people In order to become an eminent part of the finance department an individual should have finance background with efficiency in technology. It has been observed that organizations have to face challenges in hiring efficient employees for maintaining the entire financial data record. Roman, Roman and Meier (2014) opined that senior employees who are already associated with the business process are not efficient enough in operating accounting with the help of advanced technology. In this kind of situation, the business experts are facing innumerable challenges maintaining a global business. This particular study has focused to evaluate some of the major challenges of accounting on global organization. As per the opinion of Guthrie and Parker (2014), organizations can implement a training and development session for employees in order to enhance their technological skill. Otherwise, the entire business process can face a massive consequence in handling the entire situation. Internal change issues: Zeff (2012) stated that organizations are facing innumerable challenges in managing internal data properly. Business executives associated with the finance department are not efficient enough in maintaining data record by using accounting software. As a result, the employee performance as well as remuneration record is not marinated properly. Employees are getting deprived of receiving their justified salary as well as incentives properly. In this kind of situation the entire internal structure is getting hampered day by day. Employees are facing issues in receiving their remuneration properly. The lack of motivation is happening at the workplace of global organizations. Automatically, the rate of employee turnover is getting high day by day. Technology issues: Bayerlein (2015) opined that maintaining financial database with the help of accounting is highly dependent on technology. If an individual employee has to face a technological error the entire process of business becomes worthless. In this kind of situation, the customers and the employees show the reluctant attitude in being associated with the organization. Due to the technological error the business experts may have to face difficulties in evaluating the organizational profitability. At the same time, the overall performance record of the employees has already been lost due to sudden technological barrier (Schaffartzik, Wiedenhofer and Eisenmenger 2015). This particular issue is a serious concern for the business experts for maintaining global organization systematically. Literature gap: The previous article critically discusses the importance of the accounting system in any organization based on global market and it largely influences the using of accounting system in the organizations but the portion this lacks is to provide the brief idea about why the incorporation of accounting system is important in every organization. This study further highlights the reason behind the incorporation of accounting system in every organization and highlights the importance of it in global perspective. Hence, it can be said that over the years the process of accounting system has evolved along with increasing its need in the global sector. Summary: From the above it can be seen that earlier the importance of accounting was seen but the reason behind that was unknown and with changing years the reason has been known. However with due course of time, now it can be said that the reason behind the incorporation of accounting on global basis is that every organization needs to have the record of their financial statements so that it helps them to use their capital according to their needs. Accounting helps every organization to have the full records of the monetary transaction and helps the organization to utilize the capital as per its need. Conclusion The entire study has provided an in-depth overview about the necessary challenges of accounting that global organizations have to face for running their entire process of business systematically. With the rhythmic progress of globalization the necessary demands as well as employees are changing gradually. Therefore, implementation of accounting within the business process has rendered a privilege for the business experts in maintaining a proper data and information with the help of accounting software. 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