The annuities department was faced with an accounting problem. The current accounting system would be obsolete in a few years and our business customers are currently experiencing resource issues when problems arise and support for this system is required.
Since financial reporting is a complex process, convoluted action was required to resolve this problem. The annuity technology group, along with the annuity business group came up with three possible solutions and conducted a high level requirements analysis and a cost benefit analysis to determine which solution to implement. The solutions analyzed were, do nothing and stay on the existing accounting system, go with a new accounting system designed and built by our Life Insurance partners, or build our own accounting engine.
The requirements and cost benefit analysis took several months to complete and a final decision would not be made until 18 months after the initiation of this project. The end result of the requirements and cost benefit analysis concluded that it was most beneficial to our business partners to build our own accounting engine; however this was not the elected solution.
Our suggestion to do nothing was not feasible; we were already facing resource issues for existing accounting problems. Additionally, through requirements analysis, we discovered that no future enhancements would be made to this old system, as the annuity business unit was the sole user of this system. Early on, we were able to eliminate remaining with our existing accounting system as a reasonable solution.
External pressure from our Life Insurance partners wanted us to commit to using their services. Life Insurance had designed and implemented an accounting system a few years ago that provided wonderful functionality. This system is being used by most of the enterprise although there is no corporate mandate requiring administration areas to use it. While the functionality of this system is quite detailed and impressive, it fails to meet all of the needs of the annuity business customers. Because the annuity business requirements were quite extensive, the life insurance group could not commit to the necessary enhancements that would be required to their system to satisfy annuity users. Because of these business requirements, we then conducted an extensive analysis to determine what Annuities IT could do to satisfy the business requirements. The analysis revealed that we could build our own accounting system for only 25% of the cost of using the life insurance system.
Financial Accounting Standards Board. (1985). Statement of Financial Accounting Standards No. 86. Norwalk. Retrieved April 7, 2014, from http://www.fasb.org/cs/BlobServer?blobkey=id&blobnocache=true&blobwhere=1175820922177&blobheader=application%2Fpdf&blobheadername2=Content-Length&blobheadername1=Content-Disposition&blobheadervalue2=189998&blobheadervalue1=filename%3Dfas86.pdf&blobcol=url
2. This exam consists of 60 multiple-choice questions. Select the BEST answer and mark the appropriate
Block and Hoffman-Jeep’s journal article served as the inspiration for the thesis concerning Frida Kahlo’s fashion and persona as opposed to the one crafter by mass media, imperialist magazine producers. Due to the in depth analysis of photos taken of Frida through the 1930s, and analysis of her paintings which portray Frida between America and Mexico shows the influential imaginary wall between American culture and Mexican Culture; and the divergence in historic paths. While Mexican politics have experienced a large amount of turmoil throughout history, Frida was
Since the marriage in August 21st, 1929 Diego Rivera and Frida Kahlo have been Mexico’s most important couple artists. While Diego was famous for painting in large murals, Frida was only known as his wife. However, in 1938, Frida’s small paintings were starting to get attention. Her style was unique, she had a talent that not many other artists did. She was willing to go to places where no one else has ever gone. Just like Frida, Diego had his own style. They both focused on the working class and their desire to use their art to transform political views.
As technology progresses it can truly change how a business operates in terms of accounting and financial reporting. Online software has become a widely used system by many businesses around the globe. Financial reporting is essential to any business especially when seeking for potential investors or stakeholders. The reason being is because a financial report contains all of the records of how a business is performing financial wise. Likewise there are purposes of securities regulations and the main one is to disclose any schemes.
In a rising economic marketplace, advertising industries convey to consumers the idealistic values of wants and needs of a product that appeals to people. In most cases, the characterization of women in local ads portrays negative and sexual acts. A particular advertisement that contributes to the delusion of women is the Body Language Sportswear ad. Through basic discriminatory messages that often get hold of the individual’s attention. The advertising company entertains, persuades and influences people as well as sending subliminal communication. This advertisement convinces audiences by promoting essential mixtures of visual depictions of images, unrealistic body perceptions that affect young adolescents. This creates a relationship between the subject and the object. The connection between both constructs identity. In addition, the economic, social, and cultural components tie with it. So essentially people define themselves through the products they value the most. The purpose of this advertising is to promote products in which people are unconsciously affected by their emotions. Generally this can impact a person’s psychological way of thinking. This can result in a loss of self-esteem which can show from their personality trait. These advertising businesses are very controlling. In other words, even the littlest products they commodify play a significant role in an individual’s needs. The advertisement subtly promotes female stereotypical image based on objectification, and a growing demand in consumption, accompanied by the publicized merchandise to sell and influence viewers.
Frida Kahlo was a Mexican artist best known for her self portraits. She was born in Coyoacán, Mexico City, Mexico. She was born to parents Matilde Calderon y Gonzalez and Guillermo Kahlo. She lived from 1907 to 1954. She was part of the Mexican Communist Party. Kahlo had several tragic incidents occur during her lifetime. At around the age of 6, she contracted polio. The disease left her with a damaged right leg and foot. She went to school at the National Preparatory school, where she met Alejandro Gomez Arias. While traveling together on a bus, it collided with a street car. The incident left her with serious injuries, including getting impaled with a steel handrail, and suffered fractures to her spine and pelvis, and had to undergo several
During this period, the world was rocked by a socialist movement characterized by a counterattack against nonfigurative art and a reversion to figurative art, a change that enabled artists to deliver social messages clearly. Kahlo’s paintings started receiving global attention from the 1970s. Feminism in art at the time suggested that women’s physical characteristics were women’s own space, distinguished from men’s. Her paintings honestly and comprehensively expressed her personal experiences and emotions, to which only women could relate. Self-portrait was a recurring theme in her paintings, which depicted women as active observers of their inner being rather than as passive objects of men’s attraction. From this perspective, Kahlo’s pieces are extremely pioneering (Deffebach, 2015). The feminist movement provided opportunities for the discovery of more female artists in the world of art; this movement helped her paintings see the light of day. During the period when male chauvinism prevailed, Kahlo stood against conservative society with her strong character and personality; she strived to create a new era and tread the path of a pioneer. In this respect, Kahlo was an artist who had great influence on improving women’s social
Frida Kahlo was an outstanding female artist in the early 1900’s. She painted many self portraits portraying her and others life lessons. Frida Kahlo was born on July 6th 1907 in Coyocoan, Mexico City, Mexico. Kahlo was known for being one of the first feminist icon. In the 1900’s women began rebelling. Frida looked up to many of those women and began to idol them. This led to social awareness and her own rebellion. While she was in school, Frida was friends with the intelligent people. She had a love for traditional colorful clothing. Frida Kahlo joined a political group which led her to later become an active communist
Albrecht, W. S., Stice, J. D., Stice, E. K., & Skousen, k. F. (2002). Accounting Concepts and Applications. Cincinnati: South-Western.
Stair, R.M., Reynolds, G.W., Gelinas, J.U. Jr., Sutton, S.G., Hunton, J.E., Albright, S.C., Winston, W.L. & Zappe, C. (2007) Accounting Information Systems and Financial Modelling, Thomson, South Melbourne, Victoria, Australia.
Others feel that ABC would be more widespread in industry if it were marketed better by the cost accounting profession itself [1]. As the dust has settled, ABC has turned out to be less a revolutionary technique than a useful refinement to proven systems. The costs of products and services must be accurate, or management can be misled. Decisions... ...
The following essay aims to analyse in depth a computerised accounting system and its aspects such as its history, what technologies is based on, and how it has developed since its beginning. Other aspects such as the current state of the system and the interactions with other systems and the future of the system will also be covered in this paper.
Accounting dates back as far as first centuries, is the language of business. As everything has gone through many changes, accounting has also changed many times through out the centuries. It went from the use of abacus to the most advanced softwares, and computers. With these drastic improvements nowadays accounting, financial accounting and management are facing big challenges. From the presentation of the reports to communication to the users, investors, and owners, the accounting field has gained totally a new shape from two decades ago. Today with the dynamic change in every aspect of life, the accounting field has to act fast and be able to adapt these new changes and challenges in order to survive.
An Accounting Information System (AIS) can be defined as software that helps accountants to collect data and process it to create information ((Bagranoff, Simkin and Norman 2010)