Business Combinations Essay Example | Topics and Well Written Essays - 500 words

Business Combinations - Essay Example According to the FASB's website, this project is being deliberated due to the fact that the guidance provided in Statement 141 is believed to be inadequate or inconsistent with the conceptual framework. Therefore, the focus of this project is the issue of the existing guidance for applying the acquisition method. The primary objective of the project is to create a standard of accounting for business combinations that can be used for both domestic and global financial reporting. The goal is to establish a standard that encompasses a common set of principles and guidance that yields information useful for decision-making. Furthermore, the Boards believe a standard should improve the usability of financial information in regard to business combinations by explaining which assets and liabilities are to be recognized, by requiring that the assets obtained and the liabilities taken on are measured consistently and relevantly, and by ensuring that like events are comparably accounted for vi a a clearly defined scope of the standard. The Boards also made an assertion regarding the responsibilities of an acquirer once control of an acquiree is obtained. In addition, the recognition principle, fair value measurement principle, and disclosure principle were confirmed as the main principles for applying the acquisition method. b.

Answer the questions Essay Example | Topics and Well Written Essays - 1000 words

Answer the questions - Essay Example Operations managers make use of appropriate operations strategies to deal with the overall business strategy designed by the top management of a company. â€Å"Operational strategy begins with defining your business in terms of the present opportunity in relation to the customer and product of the business† (Wasmund 2006). The management of operational activities, which accepts inputs in order to delivers usable outputs, is called operations management (Sankaranrayanan 2011). Operations management incorporates the use of both operational efficiency and operational strategy to manage the business operations. Operational efficiency is related to the completion of tasks in an appropriate manner whereas operational strategy is the set of plans, which are developed to achieve competitive advantage in the market. A key point regarding operations strategy is that it is developed after development of the business strategy to establish a right path, which includes a sequence of decisio ns that makes a business achieve all goals and objectives effectively and efficiently. The operational activities included in the operations strategy play role of the competitive weapons, which can be used to achieve competitive advantage in the market. ... Workplace analysis refers to the evaluation of business operations and the physical environment of a workplace. Managers can analyze the workplace by identifying all sorts of risks and hazards associated with the overall workplace environment of a company. Workplace analysis provide many benefits to a company, such as, prevention of workplace accidents and employee injuries, identification of risks and steps for the elimination of those risks, creation of a safe workplace environment, and installation of safety mechanisms in the workplace. Workplace analysis is a step-based procedure, which involves four different stages. In the first stage, the management reviews the previous injury and hazard records related to the workplace. The review makes the management know the basic aspects of the workplace related accidents, which include nature of the injuries, workplace equipment, and the time at which the accidents took place. Next step is to use the reviews to identify all possible hazar ds and risks. After identification of hazards, the management evaluates the workplace equipment, employee behaviors, and workstations to know the causes of the accidents. In the last step, the management identifies all possible ways to eliminate, contain, or reduce the occurrence of workplace hazards. Devil is in the detail refers to the concept of identifying hidden elements which can cause some specific incident. â€Å"In one sense, one might say â€Å"the devil's in the details† to refer to very small but ultimately important components of a larger task† (Smith 2011). This phrase is used to explain small details of a large incident. In workplace settings, this concept is used to identify the reasons behind any specific workplace incident. Explain How Demands