Greek Financial Crises And The European Crisis - 2517 Words

One cannot understand the Greek Financial Crises and the general European Financial Crises without understanding the history of the European Union, the creation of the euro, and the Eurozone. The countries involved in the European Financial Crises were Spain, Portugal, Iceland, Ireland and Greece. The Maastricht Treaty created the European Union in 1993. The treaty gave citizenship to all people living in the 28 member countries. This treaty led to the creation of the Euro. In order to join the Eurozone, each member country must maintain sound fiscal policies. Essentially, each country must limit national debt to 60% of gross domestic product and limit annual budget deficits to a maximum of 3% of GDP. The main reason for the greater European Financial Crises and Greece s crises was the country s violated the treaty restrictions. Spain, Portugal, Iceland, Ireland and Greece were unable to maintain spending within these limits. Additionally, the European Union has a monetary union but does not have a fiscal union. Each member country maintains its own independent tax and spending policies. The absence of a common fiscal tax for every member country in the EU is the reason for the current crises. Greece joined the EU in January 1981. Most observers believe that Greece lied about its fiscal situation to join admission into the EU. For example, from 1995 to 2014, Greece had an average budget of 7% versus the 3% limit. By 1996, government debt was above 100% versusShow MoreRelatedThe Reasons For European Sovereign Debt Crisis1437 Words   |  6 PagesAccording to the analysis above, the euro crisis could be partly ascribed to previous financial crisis in 2008. After deeply investigation, the failure could have a lot of thing to do with government regulation and management. The reasons for European sovereign debt crisis could categorized into two main issue; income and solvency problem as analyze above. Hence, this part will examine the failure of both private and pu blic sectors from the angle of accounting. With the accounting aspect, the conceptRead MoreGreece Economic Crisis Analysis986 Words   |  4 PagesWall street financial market in 2008, Greece become the center of Europe’s economic crisis. With employment rates more than 25 percent, Greece is suffering from a financial crisis equivalent to if not greater than the U.S. Great Depression. The source of the crisis originated in the inefficient management of the Greece’s economy and government finances. Additionally, Greece’s involvement in the euro zone reflected a monetary policy that was at odds with its fiscal policy. The crisis resulted in troikaRead MoreUnited States Economic Financial Crisis1639 Words   |  7 Pagesoil crisis in the ‘70s negatively affected the economy just as bad as the Gulf War did in 1990. On the other side, the end of other wars had a positive effect on the economy, for example World War 2, which boosted the stock market and ended the Great Depression. When multiple negativ e effects occur at the same time, or when crises last for a long time allowing other negative effects to surface, crises tend to last longer and prevent a pick-up in growth. The current economic-financial crisis wasRead MoreFinancial Crisis in This Time is Different by Reinhart and Rogoff758 Words   |  3 Pagesinstitutional changes and experience gains can make the world emerge from financial crisis saying that this time is different. But they may be too optimistic. The outrageous truth is that each new financial crisis is not predicted or forestalled. As Reinhart and Rogoff said in their book This Time is Different, technology is changing, fashion is changing, but self-deception of governments and investors are not. A banking crisis usually refers to a situation in a general market adjustment when faithRead MoreSolving The Economic And Political Dynamics2239 Words   |  9 Pagescollapsed triggering an economic crisis in the United States and throughout the globe. What followed this event was five years of economic distress throughout the continent of Europe. The crisis that hit Europe likely stands as the greatest test to the European Union, and the common market and currency in particular. Greece and Ireland both experienced what Jay C. Shambaugh deemed â€Å"The Euro’s Three Crises†- a banking crisis, sovereign debt crisis, and a growth crisis. According to this model, poorlyRead MoreThe Crisis And The Eurozone Crisis1271 Words   |  6 Pagescountries in the European Union itself. There are many aspects to a countries point of view on such issues including location, history, economy, political outlook, and so on. Because of these influences countries sharing similar histori es, locations, economic standings, and etc. band together to create voting blocs in order to get their agendas pushed forward. This paper will discuss the viewpoints of Albania, Bulgaria, and Romania with respect to the refugee crisis and the Eurozone crisis as relatedRead MoreExecutive Summary Before adopting the euro as the official currency in 2001, Greece was one the3400 Words   |  14 Pages Before adopting the euro as the official currency in 2001, Greece was one the stable European economies. The early stages of the currency transition worked very well for Greece. However, the state later fell into financial crisis, which has not only affected Greece’s government, but also the entire European countries and their trading partners, such as the United States. Therefore, the Greece financial crisis has become a global concern with the United States Congress, making it a continuous concernRead MoreA Period Of General Economic Decline1197 Words   |  5 PagesRecession, as it was called, varied from country to country it is concluded that it was the worst economic recession since WW2. (Davis, 2009). Greece’s case was somewhat peculiar. While the crisis in Europe progressed from banking system crises to sovereign debt crisis, in Greece it happened the other way. In 2010 the Greek government revealed that the deficit of Greece in 2009 had made the public debt no longer viable. The country tried to regain the trustworthiness of the global markets by reducing itsRead MoreThe Collapse Of The Soviet Union1375 Words   |  6 Pagesstarting in Greece but spreading to Spain and Italy. The core countries will be more disconnected from the current crisis and will not feel responsibility for the consequences of unsuitable decisions made in the European Commission. Countries suffering the crisis will come to the conclusion that the core countries have achieved competitiveness and success at the expenses of other European countries. The danger of this scenario is that the breakup can be violent, similar to the disintegration of YugoslaviaRead MoreGreece : A Developed Country Of Europe Essay1720 Words   |  7 Pages(Nelson M., Belkin P ,Mix E., 2011). Evaluation of the financial crisis: The concept of neo-liberalism introduced by the UK and the USA for economic liberalization of individual interest is greatly practiced now-a-days throughout the world. In the most recent times, the practice of neo liberalism has also included in liberalizing, among others, housing policy and a range of social policies throughout the United States and partially in the European Union, making citizens responsible for the funding of

Physician Assisted Death For The Terminally Ill - 1601 Words

University Name Name of The Institute Course Title A Report on Physician assisted death for the terminally ill in US Student Name Introduction In United States, Euthanasia is a highly controversial subject among politicians, legislators and society members. Just the mention of this issue polarizes different groups on opposing ends as some either support it and others want to keep it illegal and unlawful(Steck, Egger, Maessen, Reisch, Zwahlen, 2013). The main ideology that is discussed in the situation is whether an individual has a right on his own life in cases of terminal illness where there is no way of recovering according to medical professionals. The argument that is for the provision of assisted-death for terminally ill can be understood by other names of Euthanasia which are- mercy-killing and dignity-death. These names are given to the practice of physical assisted-death as it allows the terminally ill patients to avoid the extreme pain, constant awareness of certain death and humiliating medical conditions that are part of some terminal illnesses. In this report, the present state of Euthanasia has been evaluated in context of United States. The goal is to look for the existing political and legislative environment for and against Euthanasia and identify an appropriate solution. Present State of Euthanasia In most of the western countries, the legislators are no longer keeping the rights of people to decide whether or not they want assisted-death ifShow MoreRelatedPhysician Assisted Suicide Should Be Legal1325 Words   |  6 PagesThe topic of physician-assisted suicide has become very controversial because of the ethical questions. The physical state of health of the patient, the patient’s personal life, and even the financial pressure of the patient are all factors to consider when contemplating whether or not to legalize this controversial cause of death. Physician-assisted suicide regarding medical ethics states that a physician cannot legally give any patient a lethal injection to end their life, but they can take theRead MoreThe Ethical Responsibility Of Assisted Suicide1274 Words   |  6 Pages As defined by Merriam- Webster, physician assisted suicide is: â€Å"suicide by a patient facilitated by means or information (as a drug prescription or indication of the letha l dosage) provided by a physician aware of the patient’s intent.† Implicit in the term suicide, is that life has been prematurely ended due to desperation and hopelessness. However, in most cases Behuniak Svenson (2003) argue that suicide is mostly performed under unstable mental conditions of the patient and therefore any suicideRead MoreThe Death Of Terminally Ill Patients1230 Words   |  5 PagesThere are many causes of death, and some of the individuals who lay on their deathbed suffering will often wish to hasten their passing. To be exact, it is about the terminally ill patients and the agony they are facing. Terminally ill patients go through massive amounts of medication, all sorts of therapy, and unimaginable pain. Because of this, the patient will often ask their physician to help them commit suicide. In 2014, Brittany Maynard, 29, was diagnosed with terminal brain cancer and is aRead MoreAdvocates Against Assisted Suicide Advocates Essay1681 Words   |  7 PagesAdvocates against assisted suicide argue that the untaken medication will be dispersed to a larger group of people than just the terminally ill it was intended for. A little over 40% of the population of individuals that received life-ending medication did not even take the medication (Keown 172). Keown details a summary of the prescriptions ingested in 2015 as of this current January. All of the medications that a prescription was written for were carefully tracked and observed. The Death with DignityRead MoreAssisted Suicide : Rights And Responsibilities1570 Words   |  7 PagesAssisted Suicide: Rights and Responsibilities A woman suffering from cancer became the first person known to die under the law on physician-assisted suicide in the state of Oregon when she took a lethal dose of drugs in March, 1998. The Oregon Death with Dignity Act passed a referendum in November, 1997, and it has been the United States only law legalizing assisted suicide since then. According to the New England Journal of Medicine, more than 4,000 doctors have approved of the assisted suicideRead MorePhysician Assisted Suicide : Controversial Healthcare And Political Realms Alike1218 Words   |  5 Pages Physician-Assisted Suicide Elissa Munoz-Tucker University of Arizona Abstract Physician-assisted suicide is controversial in healthcare and political realms alike. Currently, this end-of-life option is practiced in five states within the United States. Social concerns regarding assisted suicide revolve around ethical quandaries; providing the means to a patient’s death is contradictory to ethical principles of healthcare providers. Political concerns surroundingRead MorePhysician Assisted Suicide And The Rights Of Patients1523 Words   |  7 PagesPhysician-assisted suicide needs to be recognized by the federal government to show terminally ill patients that their right to autonomy is not being ignored. The Bill of Rights of Patients was constructed to outline just this. According to the American Cancer Society, â€Å"the American Hospital Association drafted a Patients’ Bill of Rights to inform patients of what they could reasonably expect while in the hospital.† One of the notes stated in the Bill of Rights of Patients is the right to a utonomyRead MoreAssisted Suicide Should Be Legal Essay1490 Words   |  6 PagesThe process of assisted suicide, or physician-assisted death, is a hotly debated topic that still remains at the forefront of many national discussions today. Assisted suicide can be described as the suicide of patient by a physician-prescribed dose of legal drugs. The reason that this topic is so widely debated is that it infringes on several moral and religious values that many people in the United States have. But, regardless of the way that people feel, a person’s right to live is guaranteedRead MoreEssay On Physician Assisted Death1340 Words   |  6 Pagescurrently more than 1.3 million terminally ill patients in the United States waiting for the day that they will succumb to death.† Some are bed ridden, some are constantly consumed with systemic pain, some have no strength or desire to get out of bed and so they wait. They wait because they live in a state that says they do not have the right to die. Those who are healthy argue that it is immoral, ungodly and unethical for a medical doctor to practice physician assisted death. Government should not prohibitRead MorePhysician-Assisted Suicide - an Utilitarian Perspective Essay example1476 Words   |  6 PagesPhysician-assisted suicide is â€Å"the voluntary termination of ones own life by administration of a lethal substance with the direct or indirect assistance of a physician. Physician-assisted suicide is the practice of providing a competent patient with a prescription for medication for the patient to use with the primary intention of ending his or her own life† (MedicineNet.com, 2004). Many times this ethical issue arises when a terminally-ill patient with and incurable illness, whom is given little

Job Hunt Based on the Education Stream Free Essays

Exploratory Essay Being in college is a great opportunity to study the major everyone has always dreamed of. I am sure that not everyone that is in college at the moment knows exactly what direction to go with their specific major. By doing some research on my major I plan to gain some knowledge of what type of job opportunities my accounting major can offer me. We will write a custom essay sample on Job Hunt Based on the Education Stream or any similar topic only for you Order Now At this moment I do not know exactly what different jobs I can pursue with my major. I am also sure that there are a several jobs that can deal with accounting that I will learn about. As I started my research on my major I came to one job title that every person with accounting experience start off with to make a way onto higher positions. This job title is called an accounting clerk. An accounting clerk usually deals with activities like preparing for basic management and ledger maintenance. One essential and basic duty they have to do is assume much responsibility to perform assigned accounting and related clerical support functions. This is where they maintain files, type a variety of reports or documents, print account payable checks and insert checks to mail daily, and prepare worksheets to the general ledger system. A second duty they maintain is resolving accounting or documentation problems by tracking and investigating these problems (Accounting Clerk 1). A third is establishing coordination with the company’s personal and effective communication. This duty deals with assisting and maintaining contact with any other departments to convey any transactions, keep the management informed about any problems or area activities, and involving themselves in any meetings (Accounting Clerk 1-2). A last duty they are responsible for is ensuring the place in which they work is maintained secure and complete any special projects assigned (Accounting Clerk 2). An accountant clerk has many responsibilities they have to take care of at all times. This Google PDF document informed me about the certain responsibilities an accountant clerk has to achieve to maintain this certain position. It showed me the great significance it can play in my life if I chose to go into this position and the things I would have to over go. For example, I can hold the responsibility of maintaining and over looking documents for a company or even finding any issues with any of the documents. It also informed me that becoming an accounting clerk can be a great first step to start off with, so that sooner or later I would be able to pursue bigger and greater things. Starting with this job title could better prepare me for any future positions I would like to get into. Being an accounting clerk sure is one good job title that I would keep in mind, but there are also a couple more that have caught my interest. A second job title that can be a possibility for me to look into that can as well deal with a great amount of responsibilities is bookkeeping. Bookkeepers are responsible for taking many records of the transactions for a company’s business. They must also be able to maintain the records within a certain computer program or given ledger. The type of records bookkeepers need to maintain can include those which calculate accounts payable and receivable, expenditures, receipts, and profit and loss (Bureau of Labor Statistics). Bookkeepers have a lot of tasks they have to do so having a wide range of skills will be the only way they would be able to handle this type of job. A bookkeeper may choose to work for a small business or a large company. Either job they choose to work for requires some sort of the same tasks, but if they liked to work for a large company they would have to have much more experience with the task bookkeepers encounter (Bureau of Labor Statistics). If they do not have the great amount of experience than working for a large business would not be a good fit for them and working for a small business would be a much more comfortable start for them. This bookkeeping job deals with a lot double tasking skills that can be complicated to master. The Bureau of Labor Statistics website has gained me a little knowledge about bookkeeping and what it consist of. From this website I took an understanding that a bookkeeper needs to feel comfortable working with a computer at all times because it is one main source they work with. They also have many responsibilities to take into account and in order to accomplish them they have to have the right amount of experience to be successful in this job. Knowing that they work a lot with computers was one main thing that I like about this job. To calculate, put in records and type out data has caught a little of my interest because having experience with computers is something I can perform well with. A last job title that I looked into that caught my attention was a tax specialist. A tax specialist is the person who fills out tax return forms for many clients. Their ultimate goal is to reduce their client’s tax debt by including any possible deductions. They have to conduct many interviews with each client in order to get important personal and financial information. Their duty does not only limit to reporting on tax returns, but they could also have the responsibility of informing their company of any expenditure that has any association with the business transactions (Solis). Tax specialist can also have the option to work year round or only during the season of taxes. To work year round they would have to be working with a business and to work during the season they can do it to earn themselves extra money. How to cite Job Hunt Based on the Education Stream, Papers

Financial Calculation Wildwood Creations Ltd

Question: Discuss about theFinancial Calculation for Wildwood Creations Ltd. Answer: Introduction: The WILDWOOD CREATIONS Ltd is involved in the business of maker, repairer and restorer of wooden outdoor entertainment furniture. The company takes charge of repairing various wooden items and if required it also makes those items. The important factor in regard to the business policy is to ensure that the company works at a pace to make create a more revenue for it. The assessment is to look into various cost aspect of the business and highlight major overruns and other factors involved in a company. The assessment will look into various segments of the business including repairing and creating new item (Duke, 2016). The business assessment is to include several other factors like assessment of salary and wages, raw materials Sam Dekkan is the owner of the company and he is aware of the fact that competition is increasing in the repair market and also in manufacturer of outdoor furniture market (Mahler, 2016). Financial Analysis: Sam Dekkan decided to have a close look in the business and the costs involved in the business to ascertain the main reason for cost overrun. He wants to understand the factors that have played important role in the business in respect of preparing flexible budget and pin pointing the variances. The company is in the business of following; Major repairs, Minor repairs, Making a variety of new outdoor furniture, like tables, bench seats, chairs, outdoor coffee tables, small storage cabinets. If the financials of the company is read properly, this would indicate that the company earns most of its revenue from repairing business. The company wants see that whether the budgetary allocation it has made is proper or not (Benge, 2016). In the next year the company has an expectation to carry out the following number of jobs; Major repairs 390 jobs Minor Repair jobs 1830 Restoration job 540 and New 520 standard outdoor tables The cost regarding completion of the jobs is allocated properly. The company also incurred some costs which are fixed in nature like salary and bonuses (Mahler, 2016). In the Books of WILDWOOD CREATIONS Schedule of Difference between Planned Out Come and Actual Results Budget Actual Variance U/F Jul-15 Jun-16 Total Revenue $947,800 $1,003,090 $55,290 F Costs: Owner Salaries - base $180,000 $180,000 Owner Salaries - bonus $47,390 $50,160 -$2,770 U Major repairs: salaries $102,480 $151,032 -$48,552 U Minor Repairs: wages employees $172,000 $172,000 - Rush Jobs: wages $4,050 $4,455 -$405 U Materials for new tables $72,800 $75,600 -$2,800 U Replacement parts $224,400 $224,945 -$545 U Transportation $44,289 $43,824 $465 F $847,409 $902,016 Contribution $100,391 $101,074 Advertising $15,000 $17,000 -$2,000 U Depreciation $6,000 $6,000 Office Rent $52,000 $54,600 -$2,600 U Miscellaneous $8,200 $7,300 $900 F $81,200 $84,900 Operating Profit $ 19,191 $ 16,174 $ (3,017) U In the Books of WILDWOOD CREATIONS Memorandum of Profit Reconciliation Account Owner Salaries - bonus $2,770 Profit As per budget $19,191 Major repairs: salaries $48,552 Revenue Increase $55,290 Rush Jobs: wages $405 Transportation $465 Materials for new tables $2,800 Miscellaneous $900 Replacement parts $545 $75,846 Advertising $2,000 Office Rent $2,600 $59,672 Profit As per Actual $16,174 In the Books of WILDWOOD CREATIONS Revised Flexible Budget Per Unit/ Hour Number of jobs Total Hours Per Unit or Hrs Cost Budget Sales Major Repairs 450 $450 $202,500 Minor Repairs 1740 $130 $226,200 New Tables 540 $680 $367,200 Rush jobs 55 $320 $17,600 Restoration Jobs 510 $320 $163,200 Total Revenue $976,700 Costs Owner Salaries - base $180,000 Owner Salaries - bonus $48,835 Salaried Employees $172,000 Major repairs: salaries 7 450 3,150 $28 $88,200 Minor Repairs: wages employees 3.1 1,740 5,394 $28 $151,032 Rush Jobs: wages 2.8 55 154 $28 $4,312 Making New Furniture 13 540 7,020 $28 $196,560 Restoration Jobs 7.5 510 3,825 $28 $107,100 Materials for new tables 540 $140 $75,600 Major Repair 450 $120 $54,000 Minor Repiar 1,740 $47 $81,780 Rush Jobs 55 $47 $2,585 Restoration Jobs 510 $47 $23,970 Transportation @35% 955.5 $38 $36,309 Contribution $1,222,283 Advertising $17,000 Depreciation $6,000 Office Rent $54,600 Miscellaneous $7,300 $84,900 Operating Profit/(Loss) $ (330,483) Some assumptions are made wile computing the flexible budget; Advertising, Depreciation Office rent and Misc. Expenses are assumed as fixed expenses. Rush job is charged at $320 a job. The indications are clear that in the company is poised make more losses in future. The break even analysis of each work has to be done separately to ascertain the breakeven point. On the company shall have to revise the rates for the jobs. Important aspect of the business is to contain the cost of the business. Here the cost of salary has increased significantly. The payment of the wages shall have to be linked to the production, so that maximum production level can be achieved if the company wants to sustain in long run. The salaries and wages are fixed or on the basis of the hours worked. Instead of Per hour calculation of wages, the company can increase output only if its shifts from the concept of wages on the basis of each job. It would have saved more man hours (Vitez, 2016). The salary to the partners is to be scraped. There should only be allocation of the profit among the partners. The salary and wages of the employees should be linked to the production. The fixed salary of the employees should be revised. The rate for major work and the rush works should have to be revised to a higher rate. The number of jobs has per man hour has to be increased. Conclusion: These policies as suggested would be the right policy for the company to sustain in the long run. The major focus should be in revision of the rates and increase of production. The comprehensive effort should be there to increase the production. The assessment factors include various side of the business (INC, 2015). References: Benge, V. A. (2016). Budgets as a Basis for Evaluating Performance. Retrieved 09 21, 2016, from smallbusiness.chron.com: https://smallbusiness.chron.com/budgets-basis-evaluating-performance-82027.html Duke. (2016). How do I create a budget? Retrieved 09 13, 2016, from personalfinance.duke.edu: https://personalfinance.duke.edu/manage-your-finances/budget/discretionary-vs-non-discretionary-spending INC. (2015, 12 06). Budgets and Budgeting. Retrieved 09 09, 2016, from www.inc.com: https://www.inc.com/encyclopedia/budgetsandbudgeting.html Mahler, D. (2016, 06 30). Zero-Based Budgeting Is Not a Wonder Diet for Companies. Retrieved 07 08, 2016, from hbr.org: https://hbr.org/2016/06/zero-based-budgeting-is-not-a-wonder-diet-for-companies Mohr, A. (2016). Reasons to Investigate a Budget Variance. Retrieved 09 21, 2016, from smallbusiness.chron.com: https://smallbusiness.chron.com/reasons-investigate-budget-variance-47924.html Vitez, O. (2016). What Is the Role of Budgets Performance Reports? Retrieved 09 21, 2016, from smallbusiness.chron.com: https://smallbusiness.chron.com/role-budgets-performance-reports-861.html