...to Colander (2008), foreign trade between two countries can impact many things among each country such as income, prices, interest rates and trade policies. The U.S. and China appear to have used one of the two approaches in the exchange rate system regarding currency of their nations, known as the flexible exchange rate. The flexible exchange rate is a type of exchange rate that is determined by the market rather than the government and is freely allowed to go whichever way it likes to determine an equilibrium value, which is impacted by supply and demand of currency (Colander, 2008). The reason I believe that a flexible exchange rate was used between the U.S. and China is because of the various differentiating amounts of the trade balance between these two countries. The balance of payments is a summary that contains records of financial transactions. There are two types of transactions that are recorded in the balance of payments, which include the current account and the capital account. The current account is, obviously, the type of transactions that are recorded in the balance of payments between the U.S. and China, because the current account is, basically, specifically for transactions of foreign trade and the trade balance is the largest portion of the current account (Colander, 2008). The issues, concerns and ramifications of the trade balance on...
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...Kudler Service Request Matt Glaman BSA/310 Kudler Fine Foods are in the process of planning to create and deploy an information system which will be used to track customer purchasing trends through a Frequent Shopper Program. This program will provide rewards and discounts to customers, and in exchange, Kudler Fine Foods will be able to use this data to better target its customers. Implementation of the Frequent Shopper Program will entail new Point of Sale technology, a means of storing customer data, building out the hardware and software means to process retained data. Outside of any technology issues there are legal ramifications, as well as ethical implication. The Frequent Shopper program will be logging intimate data about Kudler Fine Foods customers. Each customer will have to provide contact information and postal address information. As the customer begins to make purchases each transaction will be cataloged which will expose purchasing habits along with other metadata that can be interrupted, such as the typical time of week and day the customer shops. Kudler Fine Foods management must declare a set standard of what data is to be logged to protect customers. Questions must be asked about how certain data is associated with customers. For example, transaction times could be disassociated from a direct customer profile but still provide insight as to popular shopping times. Outlining the ethics of the data collected provides a means for designing other...
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...illicit activities on the network. 7. Outside members should require use of guest access to connect the network. Security Policies agreement All users and devices are required to comply with all the existing security policies developed by the home and the current security policy. Some of the existing policies include: 1. Information security policy 2. Use of mobile and laptop policy 3. Wireless use policy 4. Remote access and device use policy 5. Network/Malware/Virus policy 6. Copyright Information policy 7. Guests use of personal device Personal devices are authorized in the household, but connection to the network should be authorized and monitored. These devices are prohibited to access the Pollock household’s protected network, any private information, sharing family member’s personal information to public. All guests/visitors should use guest password protected...
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...Security Policy 1. Introduction The McBride Security Policy is intended to protect its digital and physical assets as well as protect the rights and privacy of McBride Financial. This policy details best practices, company guidelines, and regulations which are to be implemented and followed from inside the scope of Information Technology. The security team has created this document to protect users from virus attacks, compromise of network systems, and any legal ramifications that may occur because of this. While responsibility is on IT security to provide these tools, McBride Financial employees must know these guidelines and follow them as they may be held liable for any violation of the contents of this policy. 2. General Use and Ownership 1. All data created by McBride's employees is the property of McBride Financial Services. McBride's data should never be placed on an unauthorized device, moved, altered, deleted, or sold without the consent of IT Security. 2. Employees are required to use good judgment when on the internet. While IT Security has implemented UTM systems to restrict the personal use of internet, employees are still responsible for any rogue executables or malware in which they download from their e-mail. If an employee feels they are visiting a website in which they should not be allowed, they should contact IT security immediately at itsecurity@mcbridefinancial.com immediately. 3. McBride IT Security has the right to monitor...
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...Security Organizations: Goals and Objectives Security companies and organizations develop and establish goals to aid and help them build a profitable and successful long-term business. The security market has a wide variety of activities from physical to information security. Even with the wide variety range, all of the objectives and goals are basically the same from company to company. An important way that a security operation or company establishes goals and objectives is through the relationship that it builds with its' customers. It also meets its goals and standards by the product it puts out to the people who have hired their services. The organizations must also focus on the type of tactics it uses for recruitment, as well as retentions practices to maintain quality employees. A vital element of security operations is confidentiality. Confidentiality is the backbone of security, without it then the operations are not secure. This is crucial for all employees and employers in the field of security due to the nature of the business. There are many legal aspects and issues that deal with organizational security. One of the major legal issues is the fragile information system used within the organizational companies. This could deal with personnel files, company policies, and even financial records dealing with the company or client. There must be preventative measure in place to guarantee the privacy of this information. In regards to this, there must be...
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...Monetary policy is the use of interest rates or control on the money supply by the government or central bank to influence the economy. The Central Bank of every country is the agency which formulates and implements monetary policy on behalf of the government in an attempt to achieve a set of objectives that are expressed in terms of macroeconomic variables such as the achievement of a desired level or rate of growth in real activity, the exchange rate, the price level or inflation, the balance of payment, real output and employment. Monetary policy works through the effects of the cost and availability of loans on real activity, and through this on inflation, and on international capital movements and thus on the exchange rate. Its actions...
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...i ACFI 2005 : Finance - Tutorial Solutions Tute 1: 07/09/12 Chapter 1 A modern financial system: an overview 2. (a) Discuss the role of money in a financial system. • Money is a financial asset that facilitates financial and economic transactions. • Money is a medium of exchange—swapped for goods and services. • Money is a store of value—wealth is held or measured in money terms. • Money is a standard of deferred payment—used to record indebtedness. • Money is a unit of account—transactions are priced in money terms. • Currency is generally divisible, portable and durable. (b) Does money have to be currency? If not, what are some alternatives? • Money is anything that is universally acceptable as a medium of exchange. • Further, money generally has the characteristics of being divisible and a store of value. • Examples—currency, EFTPOS and digital money. 4. The major financial institutions within the international markets fall into five classifications. Identify and briefly explain each of these classifications. Give an example of different types of institutions that operate within a classification were appropriate. • Depository financial institutions—they attract savings from depositors and investors and provide loans to borrowers. Examples: commercial banks, building societies and credit unions. • Contractual savings institutions—there liabilities (sources of funds) are contracts that generate periodic cash flows, such...
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...are continuing to abuse the system and new ones need put into place. As long as everyone continues to do their job properly, there is no need for any more government regulation. Securities Acts of 1933 and 1934 The Securities Acts of 1933 and 1934 ensure that companies are not misleading in their financial statements that investors base their opinions on. If an investor sees any financial statement to a company, and believes they are in good shape and that they should invest in that company, the company is held liable for any loss the incur. The Securities Act of 1933 requires that before selling securities publicly, a company must register them first. Companies must go through the Securities Exchange Commission and file a registration statement. When they file, they must include their audited financial statements (Beatty & Samuelson, 2010). After this is done, a company may offer their securities on a public market for investors which may include doing an initial public offering (Louwers, Ramsay, Sinason, Strawser, & Thibodeau, 2011). The Securities Act of 1934 requires companies that are trading publicly to file an annual report that includes their audited financial statements and quarterly reports (Beatty & Samuelson, 2010). These companies are also required to have their financial statements audited by independent...
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...Sarbanes-Oxley Act The Integrity of Financial Reporting Presented to Dr. Tarek Saleh By Abdelrahman Gabr Ayman El Marakby Hisham Moussa The Integrity of Financial Reporting The Gatekeepers (Guardians) are: The The The The The The U.S. Securities & Exchange Commission (SEC) Public Company Accounting Oversight Board (PCAOB) Independent Audit Firm Audit Committee of the Corporate Board of Directors Internal Audit Function Internal Control System Corporate Governance & Financial Reporting U.S. Securities & Exchange Commission (SEC ) Public Company Accounting Oversight Board (PCAOB) Independent Audit Firm Corporate Board Of Directors Audit Committee CEO & CFO Internal Audit Function Internal Control System The U.S. Securities & Exchange Commission (SEC) The mission of the SEC is to protect investors, maintain orderly and efficient financial markets, and facilitate capital formation. The laws and rules governing the securities industry derive from a straightforward concept: all investors, large or small, should have access to certain basic facts about an investment prior to buying it, and so long as they hold it. Therefore the SEC requires public companies to disclose meaningful financial and other information to the public. This provides a common pool of knowledge for all investors to judge for themselves whether to buy, sell, or hold a particular security. For more visit: http://www.sec.gov/about/whatwedo.shtml ...
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...serious concern in businesses today. In a recent study, statistics suggest that any given company contains employees who would be willing to commit fraud if the right situation presented itself. “Research on honesty shows that individuals fall into three groups: (1) those who will almost always be honest (approximately 30 percent of the population); (2) those who are situationally honest, who will be honest when it pays to be honest but dishonest when it pays to be dishonest (approximately 40 percent of the population); and (3) those who will always be dishonest (approximately 30 percent of the population). (Albrecht, 5 ed, pg 74.) The following documentation is intended for publicly reported companies who have to register with the Securities and Exchange Commission (SEC) as well as the accounting...
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...Discuss who is responsible for producing global leaders. A leader is an individual that has made decision to succeed. This individual is not afraid to try new things and to master them. Leaders are creative and they excel at anything that they put their hands to do. Leaders help others by becoming trailblazers to create a path of success for his/her families, friends, or colleagues to follow. Leaders are not selfish individuals; they rise with the intentions to conquer the day. Leaders plan for the future not complaining about minor things that they can’t change, yet they remain unstoppable towards their goals. Leaders are able to humbly take criticisms and direction and to quickly correct those things that may have been challenged. Leaders are always seeking ways to improve every aspect of their lives. They are business woman and business men that are serious about creating new opportunities. Leaders influence others to become great and to have an assisting hand in helping others to become successful. A leader is admired by many; and attracts followers because of their confidence. Global leaders are created at home first. They are shaped and molded by their parents who never give them an option to give up or settle. These parents are not satisfied with just enough, or hear the words “I Can’t”. These children are future leaders, will bloom into adolescent and then adults; remembering the instructions. After this foundation has been established...
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...Effective Security Policy Outline I. Introduction A. Reason behind an effective security program 1. Reliance on information technology 2. Maintaining profitability B. Areas of concern for effective security programs 1. Information Security 2. Personnel Security 3. Physical Security II. Responsibility A. Chief Information Officer or Chief Information Security Officer 1. Feasibility for small businesses B. Employee responsibility III. Program implementation A. Risk assessment B. Security Policy C. Training 1. Insider Threat IV. Disaster Recovery Plan A. Why have a DRP B. Seven steps of planning V. Conclusion Aspects of an Effective Security Policy Today almost every business from large cooperation’s to your local small business owner, Aunt Nancy’s homemade quilts, rely heavily on information technology to develop sales strategies, promote their product by reaching out to consumers via social media, sell and distribute their goods, develop new products, and run daily operations from accounting to time cards. The scale at which they use technology may vary, but the need for each business large or small, to incorporate an effective security program is key to keeping their systems up and running while at the same time providing enough freedom to themselves or their employees to remain competitive and productive. In short too much security may result in a loss of business and profits, not enough security, the same...
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...------------------------------------------------- Brazil has been trying to curtail capital inflows. Why is capital flowing into Brazil? What does this do to the Exchange rate? Why would the Brazilian authorities care? What might they do about it? What are the policy consequences of their actions? Trace through the ramifications of whatever policy is chosen Many developing countries including Brazil have reaped handsome rewards from surging capital inflows in recent years. This is widely regarded as a very welcome phenomenon, raising levels of investment and encouraging economic growth. However, surging capital inflows can also be something of a double-edged sword, inflicting rather less welcome and destabilizing side effects, including the tendency for the local currency to appreciate in value, undermining the competitiveness of export industries and potentially giving rising to inflation. The major contributing factor to inflation is that the capital inflows result in a buildup of foreign exchange reserves. As these reserves are used to buy domestic currency, the domestic monetary base expands without a corresponding increase in production: too much money begins to chase too few goods and services. The combination of expected reduced depreciation with high interest rates in relation to the interest rates in the United States and other developed economies attracted capital inflows to Brazil. The situation has also been further exacerbated by relatively high domestic rates...
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... was acting as the independent auditor for Lehman and not as consultant. Therefore, I do not feel that Ernst and Young had a direct responsibility in being involved with the developmental process of the Repo 105 accounting policy. The party who would be labile for implementing Repo 105 would be management and not the independent auditors. AU 110 discuses responsibilities and functions of the independent auditor, it clearly states how management is in charge of creating accounting policies and not the external auditors. The role of the auditor would come in after the accounting policies have been made by management, it would be there job to evaluate the policies that were set in place and to make evaluations on whether or not everything complied with GAAP, that no illegal accounting tactics were being used, and that due diligence has been applied to the audit. Where the auditor...
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...How is the Sarbanes-Oxley Act likely to affect the accuracy of public company financial statements and the cost of capital for public companies? SOX The Sarbanes-Oxley Act (SOX) was signed into law in 2002 by President Bush. The law was put in place to increase corporate responsibility and enhance financial disclosures; therefore, reducing and preventing accounting fraud. SOX also created the Public Company Accounting Oversight Board (PCAOB). What is PCAOB? PCAOB oversee activities that take place in the profession of auditing. This corporation protects investors as well as those of the public. PCAOB assures that the preparation of information is true and accurate. They also micromanage audits from broker-dealers, including compliance reports filed in accordance to federal security laws; which also promotes investor protection. 103 Regulation of Audit Firms Section 103 of the Sarbanes-Oxley Act of 2002 charges the PCAOB with creating auditing and other related standards for registered public accounting firms when preparing audits. It also authorizes the Board to create any rules it deems necessary to ensure auditor independence. Section 103 also requires the Board to create expert advisory groups so as to help in setting these standards and help in creating the process and procedures used to create the standards. The Board has convened a Standing Advisory Group (SAG) which advises the Board on the establishment of auditing and related professional practice standards...
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