Financial Planning n mgmt...eithical and legal aspects! (1 Viewer)

[perfectionist]

hi
could anyone please explain me the following:

- audited accounts, inappropriate cut off periods, misuse of funds
- Corporate raiders and asset stripping.

in the planning cycle, is it ok if we just like learn the steps, i mean name them...or do we need to know them in some detail or something??

Thanks

 

[ezzy85]

misuse of funds means using the money for not what its supposed to be used for. ie. you cant steal from the company and use that money to buy a porsche.

corporate raiders is reffering to the big and powerful companies. Asset stripping is when a company buys another company and sells off its assets. this can be unethical in that the employees of the bought company can lose their jobs.

with the planning cycle, you probably dont have to go into much detail when studying. for example "developing budgets" is just trhat. talk about what it is to develop a budget.

 

[mal]

The planning cycle is almost irrelevant to finance. Very rarely will it be acked in an extended response question, and even then most of those aske you to comment on th legal and ethical aspects. Finance questions are most likely to be asked in the multiple choice section and short answers, where you are most likely to asked to interpret balance sheets and revenue statements. For finance I would just concentrate on the objectives of financial management, the ratios and formulas, effective financial management and ethical and legal issues.

Hope it helps.
Mal

 

[truly-in-bliss]

hey perfectionist, hope everything is going well for you and you are not stressing out as much and more motivated now..

 

[perfectionist]

Originally posted by truly-in-bliss
hey perfectionist, hope everything is going well for you and you are not stressing out as much and more motivated now..

its better than b4......though still stressed 4 business and phys!

 

[truly-in-bliss]

well at least english is outtta the way... hahah