Company Analysis : Alliance Appliance Ltd

International Financial Reporting Standards, in many ways, are similar to Generally Accepted Accounting Principles (GAAP) however, a few key differences do exist. One of the differences to be most aware of would be necessary changes. “Many companies will need to make significant changes to existing accounting policies to comply with International Financial Reporting Standards (IFRS), including such key areas as revenue recognition, inventory accounting, financial instruments and hedging, employee benefits plans, impairment testing, provisions, and stocked-based compensation.” ("PWC", 2014) Of these listed areas of particular concern for Chester Inc. will be revenue recognition, inventory, and financial statements. Changes in these areas are not just structural or largely cosmetic in nature,

The Mace Group Ltd was formed in 1990 by a small team of construction professionals in London, United Kingdom. It has over 4,000 employees. The company has three strategic sectors serving clients in the private, public and infrastructure sectors and five strategic hubs in Europe, Middle East & North Africa, the Americas, Asia Pacific and Sub-Sahara Africa that service over 70 countries. By the end of 2013, there were 214 operations directors, 82 directors and yearly turnover was 2.5 billion dollars. Today Mace is an international consultancy and construction company, offering integrated services across the full property and infrastructure life cycle. In North America area, Mace provides project management, cost consultancy and facilities management services across the country. It has regional hubs in New York, Newark, Atlanta, Chicago and San Francisco. In Engineering News Record’s Top 250 Global Contractors List for 2014, Mace has been ranked 10th in the list of top 20 non-U.S firms in international construction management and programme management fees, 9th in the list of the top 20 non-U.S. firms in total global construction management and programme management fees and 166th in the overall list of top 250 international contractors.

International Financial Reporting Standards, in many ways, are similar to Generally Accepted Accounting Principles (GAAP) however, a few key differences do exist. One of the differences to be most aware of would be necessary changes. “Many companies will need to make significant changes to existing accounting policies to comply with international financial reporting standards (IFRS), including in such key areas as revenue recognition, inventory accounting, financial instruments and hedging, employee benefits plans, impairment testing, provisions, and stocked-based compensation.” ("PWC", 2014) Of these listed areas of particular concern for Chester Inc. will be revenue recognition, inventory and financial statements. Changes in these areas are not just structural or largely cosmetic in nature

As the new CEO of XYZ global financial services, I will immediately engage and communicate with the firms stakeholders via hosting a Town Hall webcast in order to inform and empower the firms stakeholders (JWI 505, Week 1, Lesson1). I will inform and increase the knowledge of our employees and shareholders by reviewing our capital strengths, reduce uncertainty about the new regulatory environment and our new compliance plans, and defines our new customer focus. I will empower and transfer authority to our stakeholders by reviewing our strategy based on the mission and values of the organization to continually train and successfully attract high-quality employees and provide a candid assessment of where our country and the world are today and discuss our opportunities for success and anticipated challenges.

A sales subsidiary international organisational structure would best fit the needs of Winch-It for overseas staffing rather than export department and international division structure, as it Winch-it has just over 200 employees, compromises of foreign agents or distributors, preferably in the Asian subcontinent for Winch-it as manufacturing costs and labour are cheaper, with the organisations’ own sales subsidiaries in the market countries (Dorrenbacher & Geppert 2010).

Regarding the commitment to International Harmonization policy, AASB adopted International Financial Reporting Standards (IFRS) on January 1, 2005. The outcome is Australian International Financial Reporting Standards (AIFRS) accepts the de-recognition of all internally generated IAs. The investors in Australia expect to get information regarding to the IAs is provided by AASB 1047.The gap between actual and expected value has been decreased and more transparency because of the change in regime. There was no standard equality of AASB 138 before AIFRS, which provides information about asset without physical existence such as trademark, brand, and so on. AIFRS is used to adjust IAs have been recorded previously which are internally produced and revalued all previously assets are recorded follow by historical cost because asset cannot revalue unless it has a secondary market to base on before revaluing the asset.

A3sun Group was established in 2007 and is one of the UK’s leading energy services and engineering businesses. It operates in the oil and gas onshore and offshore wind sectors and is a recognized supplier of control panels for offshore oil and gas subsea and platform applications, whilst in the offshore wind sector it installs, inspects and maintains wind turbines. 3Sun has grown steadily and significantly and consists of five separate divisions, these include:

Each quarter we are responsible for an extensive overview of our financial records and we submit those to an outside accounting service to ensure there is no room for error. These reports are then constructed and submitted to our company stakeholders and Wall Street. Organizations that are under pressure to present positive financial results to shareholders, parent companies, banks, creditors and other key stakeholders

Introduction According to the enterprise resource management module from class, the company Alumina, Inc. is a a $4 billion aluminum manufacturer that had a discharge norm violation within the last five years ago from the Environmental Protection Agency (EPA) under the Clean Water Act. This happened during a routine inspection of the surrounding bodies of water. Kelly Bates was (at the time) a local resident near Alumina, Inc. plant. Unfortunately, her daughter now suffers from leukemia which Ms. Bates blames upon the plant's discharge because it is as old as the first report of EPA violations against Alumina, Inc. Kelly and local newspaper started the research into Alumina, Inc. violations under the Freedom of Information Act (FOIA). This short essay will clarify the applicable laws that both Ms. Bates must follow Alumina, Inc (University of Phoenix, 2010). Alumina Alumina is an American-based company. The Clean Water Act violation showed that the PAH levels in the water were discharged above EPA regulation levels. The violation was the corrected and the plant continued to be EPA compliant in further following inspections. The Clean Water Act is a federal law that regulates pollutant discharge into surface waters administered by the U.S. Environmental Protection Agency. This body sets water quality standards, enforcement procedures, and aids state and local governments in developing their own pollution control regulations ("Summary of the," 2012). Enterprise risk management

3M Company is an Australian growing company which has a great reputation in Mining and Manufacturing Company business, 3M headquarters are in the St. Paul suburb of Maplewood, Minnesota.

Investor-oriented reporting became the central theme as the International Financial Reporting Standards (IFRS) took effect on January 1st, 2005. The aim of the new standards was to improve the financial statements‟ quality, comparability, and transparency, which meant major changes to the reporting of European companies (Daske et al., 2008). It was expected that along with IFRS and the rapidly changing business environment, the reporting would adapt from the traditionally backward-looking and numerical information towards a more forward-looking and non-financial disclosure.

With the globalization of international trades, it is necessary to design a common accounting language to compare the financial performance of companies from different countries. For this reason, International Accounting Standard Board (IASB) publish the International Financial Reporting Standards (IFRS) which are principle-based in order to improve the quality of financial reporting and to harmonize accounting standards in 2001.

KHS GmbH is one of the leading producers of filling and packaging system in Germany. The company is based in Dortmund, Germany. The company also has production facilities in 5 countries outside Germany situated in Brazil, The United States, Mexico, India and China. KHS GmbH’s also has their branches across 83 countries around the world. The company has revenue of around 1,077 Million Euros as estimated in the year 2014 and has more than 4,500 employees in the company worldwide. The production cost in Germany is very high that the profit margin is too low. Moving the production to other foreign countries where the labour cost is lower compared to that of Germany could sort out the problem according to the management. Indonesia is an option that the company management is looking forward to start the production. The strategic location in relation to giant economies of China, India and Australia, low labour cost and access via sea route are the main advantages that Indonesia has. But, being a complex country, there are certain risks that the company should keep an eye on before investing in Indonesia.

The International Financial Reporting Standards (IFRS) have made an impact on the foundations of accounting, resulting in a different stance from the prior UK GAAP. Some of the more noticeable changes included; the increase of government resources being allocated to the standard. Companies will be required to provide all information of the incoming and expenditure of all money and assets under the new regulations. The presentation and terminology were altered in the current “Income Statement” and “Statement of Financial Position” leading to a change of some aspects on the budgets and estimates. “Fair value”; the unbiased evaluation of an assets potential market

SABMiller plc is one of the largest brewing companies in the world, which specializes in production and delivery of beers and carbonated soft drinks. This multinational corporation operates in five regions including Latin America, Africa, Europe, North America and Asia Pacific. It was founded in 1895 in South African and is headquartered in London, the United Kingdom.