Essays on Income and Profit

Economic is the knowledge of how humans making choices in the face of scarcity. We are living in a world that resources are limited and the need of the people are unlimited, the economists are looking for an easy way to allotted sources by opportunity...

Opportunity cost is the fee of something while a specific path of action is chosen. Opportunity fee is the fee of the next pleasant alternative foregone. If a person starts a brand new business by giving up his earnings of $30,000 according to month then...

Every day we are faced with the obstacle of making choices that range from what delicious recipe to make to what career path would be the best for my future. Each choice that we make has an opportunity cost and either takes an economic toll...

Before taking the macro economics class and completing the four graded discussions I didn’t know much about what opportunity cost mean. Now as we headed to the end of the term and studied the topic I have learned a lot and know much more about...

TeamMate Analytics The data analytics program TeamMate Analytics is an auditing software tool designed to streamline effective and efficient internal and external audits. TeamMate Analytics software is used in over 70 countries across the globe and serves more than 100,000 auditors and 2,500 organizations ranging...

Waging war is very expensive and costly. As Sun Tzu notes in his book, In the operations of war, where there are in the field a thousand swift chariots, as many heavy chariots, and a hundred thousand mail-clad soldiers, with provisions enough to carry them...

The three fiscal policies in the European Union are: Institutional Arrangements, Excessive Deficit Procedure and the Stability and Growth Pact. For the institutional arrangements these are put in place in order for EU member states to establish sound fiscal policies and has been agreed upon...

Analysis and Control of Production Cost Introduction The cost incurred by the company is the production cost that is a combination of labor, raw materials, and other additional expenses. Costs provide an overview of the total construction expenditure (Jstor, 2015 p. 436). Cost planning techniques...

Introduction Tide, Old Spice, Crest, Ivory, Swiffer. The chances are that most consumers in the United States and the rest of the Western world have heard of these brands, and associate them with specific types of products. Procter & Gamble is one of the leading...

CBA is the process of quantifying benefits and costs of a project, decision or a program in a given period (Brealey et al., 2012). The CBA analysis estimates the NPV (net present value) of the project by invest and returns discounting. Inclusively, the Rate of...

Cost benefit analysis is an important tool for policy makers since it helps them to make fair decision of taking up large scale project which will incur capital expenditure which is less than its benefit. It usually evaluate the total expenditure can incur in carrying...

Introduction The Bureau of Labour Statistics reports that explosions and fires were responsible for about 3 percent of workplace fatalities in the United States. Uncontrolled fires impose significant impacts on organizations every year by causing damage to property, loss of life, injury and lost trust...

The board of Tetra Pak Inc has recently decided that in order to comply with principles set forth by GAAP that it is in the best interest of the company to hire external auditors to conduct an annual audit. The purpose of this audit is...

The audit committees in the recent past have become a mechanism that is common for corporate governance internationally. Corporate governance is the process in which the director of a particular company ensures that the company is running properly. It strictly entails monitoring the senior managers...

Man’s best friend has become scientists’ guinea pig. Over and over again, scientists have pushed the government for public funding towards animal cloning. However, animal cloning is morally wrong. Cloning animals is just as inhumane and grotesque as cloning humans is. Scientists also do not...

On the ACA Impact on the Federal Budget Deficit, the Author Dana Smith compiles not only the CBO’s referendum on the topic of deficit/surplus implications, but also other NGO’s, offering largely a positive and inversely normative views on the ACA implications. Within the compilation, the...

The New Partnership Audit Rules under The Bipartisan Budget Act (BBA) of 2015The Bipartisan Budget Act (BBA) of 2015 was signed into law in November 2015. This new law marks a major change in how the IRS will approach a partnership audit moving forward. This...

Accounting is a specialized language of business which helps to understand economic activities. It is an act of orderly, keeping the records of the daily monetary transactions of the business, the transactions are then classified into various groups followed by summarizing in a way that...

External Audit James Wilkinson (2013) defines external audit as “a company audit which is performed by a party which is not a department or employed by a business to be audited”. External audit is also explained as an obedient or non-obedient audit realized by a...