...diversity can create challenges within an organization. The human resources department (HR) has the responsibility to develop strategies that allow employees to work in a safe, non-discriminatory environment with fair wages. With the development of regulatory agencies, such as the Equal Employment Opportunities Commission and the Department of Labor common sense and compassion has been reinforced with laws and regulations allowing litigation in cases of discrimination, unsafe working conditions, and unequal pay. The enforcement of these regulations by HR seems to have developed a more structured, safe environment. Human resources management (HRM) has the obligation to comply with employment, health and safety legislation. This includes federal, state and local laws that pertain to the many areas of HRM such as benefits, recruitment, and termination. HRM must stay up-to-date with legislation so that the organization is compliant and avoids costly penalties. Federal Regulations Federal laws cover the whole scope of employment, from hiring to termination. These regulations prescribe standards for wages and hours, safety and health, health benefits, retirement, workers’ compensation, working conditions, and discrimination. United States Equal Employment Opportunity Commission The U.S. Equal Employment Opportunity Commission (EEOC) is the governing body that regulates and enforces workplace discrimination. In the United States, it is against the law to discriminate against...
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...top-down approach to being proactive to environmental, compliance, and social issues in their business operations. In terms of XYZ Bank, the enterprise has a solid social responsibility strategy, but senior leadership should consider certain improvements in the areas of the planet, people, and profitability. Prompt A1 The banking industry is highly regulated, so banks have to be creative on how its products and practices effect the environment. XYZ Bank continuously looks for ways to improve upon how they serve their customers, while limiting their impact on the environment. One specific initiative that the bank shows their commitment to reducing pollution is through lending towards hybrid and electric vehicles for consumers [ (Bank of America Corporation, 2013) ]. While this helps in the efforts to help our customers and the environment, there is more we can do to show our dedication to reducing the number of gas driven vehicles. The United States Department of Energy mentions that driving range and recharge time are among the drawbacks in for electric vehicles [ (U.S. Department of Energy, 2014) ]. It is the recommendation that XYZ Bank invest in the infrastructure to accommodate electric vehicles nationally. One challenge that may prevent more drivers to purchase an electronic vehicle is that he or she is unable find a location to recharge the car once at the initial destination. If our rest areas, parking lots, or parking garages do not provide the capability for owner...
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...Abstract Everybody in America wants to be wealthy. We also want to be well-known and well-respected in society. The desire to be successful in our careers and profession we choose is just as important. To be successful an individual would choose a profession that would allow them to advance and climb the corporate ladder. Each and every profession has a standard code of ethics and professional values. Likewise, each has their own set of codes within the corporation or company. A person choosing their profession should really consider their own values and ethics before pursuing a professional career in an area that would later be conflicting with ones self-conscience. Professional values are usually framed from our own personal values. The customs, beliefs, and ideas we hold dear are our values. Ethics are the things we think of as right and wrong. A person who has high values and ethic should reconsider the job offer if they feel the corporation is dishonest Professional Values and Ethics Sexual Harassment “Professional values are the principles that guide your decisions and actions in your career.” According to Chrissy Scivicque, there are some universal values that should be and usually are held and practiced in all of them and they are: “first, do no harm; keep it simple; honesty is the best policy; we’re all in this together and stay balanced.” Professional ethics concerns the moral issues that arise because of the specialist knowledge that professionals...
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...1. Alleyne, B. J., & Elson, R. J. (2013). THE IMPACT OF FEDERAL REGULATIONS ON IDENTIFYING, PREVENTING, AND ELIMINATING CORPORATE FRAUD. Journal Of Legal, Ethical & Regulatory Issues, 16(1), 91-106. I will use this reference to discuss the regulations of the Oxley Act of 202 and the Securities Act of 1933 and what accountants can do to prevent from breaking these regulations. This article goes in depth about the regulations and how they are enforced. 2. Bank of America Corporation Other Release No.: 34-73243 I am going to use this article to show laws that were broken relating to keeping books and records in reasonable detail. 3. Beatty, J. F., Samuelson, S. S., & Bredeson, D. M. (2013). Introduction to Business Law. Mason, OH: Cengage Learning. I am going to use this source to discuss the responsibly of each client. 4. Chaffee, E. C. (2014). LEAD ARTICLES EDITION: Current Trends in International Trade and Their Impact on Multinational Business: ARTICLE: From Legalized Business Ethics to International Trade Regulation: The Role of the Foreign Corrupt Practices Act and Other Transnational Anti-Bribery Regulations in Fighting Corruption in International Trade. Mercer Law Review, 65701. I will use this reference to discuss the regulations of the Foreign Corrupt Practices Act of 1977 and how they were broken by accountants. This article goes in depth about the regulations and how they are enforced and lwas that have been broken by ceratin accountants...
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...hospitals, approximately 25 percents consisted of governmental hospitals, and approximately 15 percents are investor owned hospitals. Main difference between not-for-profit and for-profit hospitals are not-for-profit hospitals received numerous tax benefits such as tax exemption from federal, state, and local government income taxes because hospital serves as a charitable purpose and provide benefits to the community in general. The hospital sector in the United States includes three different types of ownership forms. Not-for-profit hospitals are the most common type but for-profit and government hospitals also play substantial roles. Arnold Palmer Hospital for Children is not-for-profit hospital dedicated to the providing a shelter of hope and healing to the children. According to Orlando Health (2011), “Arnold Palmer Hospital is a 158-bed pediatric hospital located in Orlando, Florida.” Orlando Health is dedicated to offering community services by providing high quality health care. Arnold Palmer Hospital for Children included about 158-bed pediatric hospital. Hospital Corporation of America is the largest investor owned hospital in the world. According to Hospital Corporation of America (2011), this leading provider of healthcare. services comprised of locally managed facilities included about 164 hospitals and 106 freestanding...
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...unemployment, health care coast, and corporate greed. According to the members of Occupy Wall Street, the reason why the world is suffering from these issues are because of the banks and the super rich. More so than ever it is time for American to began to take more of an interest in the suffering economy that we live in. We must begin to investigate the true meaning of how our monetary and fiscal policy is supposed to work in our recessed economy. As expressed by the Occupy Wall Street protesters it is clear that greed has lead to our financial windfall. Leaving me to wonder do our elected officials really understand how our economics system works. Like the Occupy Wall Street protesters the American people have a wide range of complaints, demands, and goals. The American people along with cries around the world are tired of "the collapsing environment, labor standards, housing policy, government corruption, World Bank lending practices, unemployment, and the increasing wealth disparity of a poverty stricken nation"(Occupied America) Different people have been affected by different aspects of the same system; they believe that these were symptoms of the same core problem in the world’s financial crisis. In the mean time, prompting a dominos effect around the world which consisted of a demographic pool of young protesters do to the rise of unemployment. Leaving us to wonder why stiffer regulations haven’t been imposed on Wall Street and in corporate America. As we continue to...
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...Bank of America: Decisions for the Future ECO 550: Managerial Economics 16 June 2013 Abstract Long-term capital budgeting is the process used by many companies to make substantial term investments, in order to receive the greatest cash flow. A company must first look at an analysis of cash flows and cost and earnings of the project to determine whether to accept or reject a capital budgeting project. The three rules used to make decisions towards capital budgeting; the payback period, net present value (NPV), and internal rate of return (IRR). The Payback Period is the tool that is used to determine how long it takes for the project to recover its initial costs for funding the project. The Net Present Value shows how the present project will affect the company. The Internal Rate of Return reveals the discount rate if the NPV equals zero. The antitrust law is a federal and state law regulation of corporations. The law insures that company does not grow too large which may prevent the growth of other corporations. The government believes that without this law that prices can become fixed and demand will be unfair in the market. In Assignment 3, I discussed the publicly traded company, Bank of America Corporation, and how the corporation deals with competition and change. In this paper, I will discuss the government regulations for mergers, the possible merger that could occur, and how the merger could be profitable. Explain why government...
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...American banking industry. In my current role| |at Bank of America I have been able to witness the affects of these two contingent factors with my industry, my firm, and directly with my job. The | |effects of international business and public policy related to banking have been widely observed of late. With the recent media focus on financial | |service firms it is widely accepted that policy changes fundamentally alters firms’ operating environment and mark transitions to a new era of | |financial reform. As an industry, banking is simultaneously embedded in and affected by these two external conditions and the effect of one on the | |industry is often contingent upon the other. | |Banking has recently seen exponential domestic and foreign growth that can be attributed to expanding international trade policies and evolving | |public policy. This liberalization of trade in financial services has been a visible result from international economic and financial integration. | |International trade has been spurred on by economic and technological developments that facilitate the flow of goods, services, capital, and even | |people. This rapid expansion is evident at the bank when you recognize that as an organization, the global presence of Bank of America has grown to | |include 57 foreign countries. Global Corporate and Investment Banking (GCIB) has...
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...government (Mills 1956). It is the elite that occupy these leadership positions within the bureaucracies. Although this theory was proposed in what may have been a simpler time, the structure of power in America remains very much the same, as does the close relationship between the military, corporate, and government elites. Mills placed the military as one of the triumvirate groups that comprised the power elite. The military has been elevated to a position of prestige and power and the present class of professional soldiers has had an impact that is far greater than just military affairs. In World War II, large corporations tied to the defense industry rose in power and influence and formed the origins of what President Eisenhower called the military industrial complex (Swanson). The war brought a bureaucratic centralization of power. In more recent times, the demands of foreign affairs, the dangers of potential adversaries, the sophistication and mystique of new weapons, and especially the development of the means of mass destruction have all given power to our highest military leaders (Reynolds). Corporations have also benefited because of the military. The growth of military spending in the United States in 2011 increased due to the war in Iraq (Weigley), which then affects federal budget decisions and strengthens the connections between these groups. The military by virtue of the position it holds has the authority to make decisions that have national and international consequences...
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...issued by the U.S. Information Agency beginning in 1981. How the U.S. Economy Works The U.S. Economy: A Brief History Small Business and the Corporation Stocks, Commodities, and Markets The Role of the Government in the Economy Monetary and Fiscal Policy American Agriculture: Its Changing Significance (Posted February 2001) Labor in America: The Worker's Role Other Language Versions: Foreign Trade and Global Economic Policies Afterword: Beyond Economics Glossary Executive Editor: George Clack | Editor: Kathleen E. Hug | Art Director: Barbara Long Illustrations: Lisa Manning | Internet Editor: Barbara Long This site is produced and maintained by the U.S. Department of State's Bureau of International Information Programs. Links to other internet sites should not be construed as an endorsement of the views contained therein. Home | About USINFO | Site Index | Webmaster | Privacy Topics | Regions | Resource Tools | Products | | Continuity and Change How the U.S. Economy Works The U.S. Economy: A Brief History Small Business and the Corporation Stocks, Commodities, and Markets The Role of the Government in the Economy Monetary and Fiscal Policy American Agriculture: Its Changing Significance Labor in America: The Worker's Role Foreign Trade and Global Economic Policies Afterword: Beyond Economics Glossary CHAPTER 1 Continuity and Change The United States entered the 21st...
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...Role and Functions of Law Paper September 12, 2012 Valentine Castillo, J.D Roles and Functions of Law Paper Introduction Without law our world would be inundated with corruption and criminal behavior. Organizations would seize to exist and the government would have no control over the economy or society. The thought of the United States operating without law is very disturbing and unnerving. It is unimaginable to think how businesses and society would function without law. Melvin (2011) perfectly defines law as “the body of rules of action or conduct prescribed by controlling authority and having real binding force.” There are reasons why law is crucial for the survival of our country therefore it is the purpose of this paper to define the functions and role of law in business and society. It will briefly discuss the suit Cipollone V. Leggett Group, Inc., et al – and which laws played a role in the suit. Final the paper will address the function of law in an industry. Roles and Functions of Law Corporate America plays a huge role in our lives as professionals and as members of society. There are a multitude of laws that play a significant role in ensuring that both society and businesses are legally protected against criminal acts such as fraud, extortion and embezzlement – just to mention a few. Some of the laws that are intertwined with both society and Corporate America are substantive law, procedural law, criminal law, civil law, common law...
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...the world likes a snitch. In the early 2000’s the urban campaign “Stop Snitching or Die” changed the face of whistle blowing in the United States (Masten, 2009). Neighborhood violence during the “Stop Snitching or Die” campaign increased as law abiding citizen cowered inside their homes as gun shots rang out feet away from their doorsteps (Masten, 2009). In corporate America companies faced huge financial lost as the “Stop Snitching or Die” theology spilled into boardrooms and accounting departments. The corporate world was not as brazen as the urban world killing anyone that help out law enforcement, but the results of company leaders keeping quiet about misconduct slowly murdered the American economic system. While corporate leaders played their hand at boardroom gangbanging by lying, stealing, and falsifying financial documents, the world would see snitching taken to a new level (Masten, 2009). The job of combing through those illegal financial documents would go to an elite set of men and women, called forensic accountant. Forensic accountants help America recover huge amounts of financial dollars by bring corporate leaders to justice who made illegal business decisions (Davis, Farrell, & Ogilby, 2009). Attributes of the Elite Forensic accounting/accountant (FA) involves the application of accounting concepts and techniques to legal problems (Davis, Farrell, & Ogilby, 2009). “Initially, forensic accountants were used by government agencies, such as the CIA, the...
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...Role and Functions of Law Paper September 12, 2012 Valentine Castillo, J.D Roles and Functions of Law Paper Introduction Without law our world would be inundated with corruption and criminal behavior. Organizations would seize to exist and the government would have no control over the economy or society. The thought of the United States operating without law is very disturbing and unnerving. It is unimaginable to think how businesses and society would function without law. Melvin (2011) perfectly defines law as “the body of rules of action or conduct prescribed by controlling authority and having real binding force.” There are reasons why law is crucial for the survival of our country therefore it is the purpose of this paper to define the functions and role of law in business and society. It will briefly discuss the suit Cipollone V. Leggett Group, Inc., et al – and which laws played a role in the suit. Final the paper will address the function of law in an industry. Roles and Functions of Law Corporate America plays a huge role in our lives as professionals and as members of society. There are a multitude of laws that play a significant role in ensuring that both society and businesses are legally protected against criminal acts such as fraud, extortion and embezzlement – just to mention a few. Some of the laws that are intertwined with both society and Corporate America are substantive law, procedural law, criminal law, civil law, common law...
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...Administrative Agencies This write-up expounds on Group Four’s perspective of how agencies in the United States of America affect our lives. The group has provided a list of agencies that play similar and at times very different roles in ensuring the quality of life we have come to expect is never compromised. The write-up explains some of Group Four members’ real life experiences, offering recommendations as to how one should address the negative impact(s) a particular agencies has had on his or her life. Lastly, the write-up explains the role of the courts in address any negative experiences any individual may have had with any of the agencies and the limitations of the courts’ review of the agencies decisions that lead to the negative impact. Which agencies regulate some aspect of your lives? The longer the list, the more interesting this exercise should be, so take some time to brainstorm a thorough answer to this question. Federal Agencies CDC Centers for Disease Control and Prevention EEOC United States Equal Employment Opportunity Commission EPA United States Environmental Protection Agency FAA Federal Aviation Administration FCC Federal Communications Commission FDA Food and Drug Administration FDIC Federal Deposit Insurance Corporation FED Board of Governors of the Federal Reserve System FTC Federal Trade Commission HHS United States Department of Health and Human Services HRSA Health Resources and Services Administration IRS Internal...
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...early years of the 21st century prompted Congress to pass the much needed reform (Bumgardner, 2003). It was something that could have prevented the decline of the stock market, at least at that time, had it already been in place. It was the little things in business, like independence, and the requirement that management attest to their financial statements, that many an outside person took for granted and assumed was taking place within the business they invested in, only to find their worst nightmares were taking place. The Sarbanes-Oxley act took full effect on June 15th 2004, but some companies were given almost a year longer to fully comply (Gunter, 2004). The primary purpose of the act was to combat the ever increasing counts of corporate fraud, mainly by making management responsible for the actions of their organization. This goal also reached out to the auditing firms, by the development of the Public Company Accounting...
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