Multi-national organizations are constantly evolving with innovative ideas influenced to adhere to current trends. Aside from designing the next epic innovation, competition among multi-national organizations are intense and creates a drastic hype for investor and shareholders. Financial reporting for multi-national organizations can be compared to the intensity in creating its next profitable proposition as strict financial reporting rules and regulations are constantly developing requiring the expertise of highly skilled professionals. Samsung Electronics and Apple Inc. are two organizations that have set an international example of innovative ideas and the viability of cross border investments. Samsung Electronics and Apple Inc. abide by distinct reporting standards, resulting in incomparable financial statements unless it is reconciled to the conforming reporting standards and differences in financial statement presentations.
Samsung Electronics (Samsung) is a foreign electronic company incorporated in Seoul, Korea. The Korean Accounting Standards Board (KASB) adopted the International Financial Reporting Standards (IFRS) known as the Korean International Financial Reporting Standards (K-IFRS). Samsung’s annual report complies with K-IFRS to prepare its financial statements and is based in a consolidated format for calendar year end December 31, 2013 and 2012. The financial statements consist of the standard required reports containing the independent auditor’s
The author of this paper’s intention is to present and examine a multi-national corporation. Dissect the how’s and what’s about it, and simply discuss its processes. The author will be giving a brief background on the company to easily elaborate how it is that the company is successful compared to its past. Its products and services will be conversed and the company’s industry will be discussed as well as its competitors and its market. Basically everything that has to do with the company will be
Company has established an effective relationship with its stakeholders and treating everyone through diverse techniques. Samsung is periodically meeting the demands of its shareholders where significant judgments are made and problems are discussed. For instance, strengthened compliance management organization has started and operated a healthcare study center. Company has a direct connection with their consumers and employees through making client satisfaction surveys to make a healthier costumer relation service. It also is creating employee surveys that made the company to improve the work shift system to reduce work ours. Samsung has also contributed in government policy formulation, which assisted to make an Energy management system that decreases its energy consumption by 10% (Samsung.com (3), 2015).
With Samsung being the only international company evaluated, there doesn't seem to be any significant impact of IASB over FASB standards for accounting. With the ratios used, the core components of the balance sheet and income statement were utilized. The key elements of revenue, expenses, assets and liabilities weren't significantly impacted by IASB over FASB standards.
Samsung is a company that is founded by Lee Byung-chul in 1938, and this company is a South Korean multinational conglomerate company where their headquarters is located in Seoul. Samsung is a group that had expanded into many areas such as food processing, textiles insurance, securities and retail. However, after a few years, Samsung decided to enter the electronics industry in 1969, where their first product was a small black and white television. In 1990s, the company grew into an international corporation where they mainly concentrated on three areas, electronics, engineering, and chemicals (Mathew). Nowadays, Samsung is one of the best mobile phone corporation in the market, where the company decided to give their Samsung electronics motto that has always tried to inspire the world, and create the future from expanding their brand in the following years (Muhammad). From looking at the Samsung SWOT marketing analysis, I can definitely see that Samsung was one of the excellent company where they have lots of strengths and weaknesses. Three of the main strengths that the company has, Samsung was the world number one marketer of mobile phone where they were part of the world biggest market share in the second quarter of 2015 by 21.4%. Not only that, but Samsung has very remarkable research and design capabilities, which was one of their biggest strengths where they were able to generate and demonstrate Samsung pay, a payment app with very identical abilities to apple pay.
Apples products are some of the most dependable brands of technology out. The warranties on the products are great. The battery powers on their products are advancing tremendously and the processing speeds with every new product is increasing with every new make. Like the mac book pro, a laptop that last a series of eight hours continuously on one charge. They are also very dependable when it comes to looking up information, uploading pictures, and searching for any worldwide apps. So thoughts are things that make apple products dependable and also technological innovative.
In the employer leadership page retrieve on 9/21/2015, Apple Inc has a list of all their executives, including the CEO Tim Cook, who before being promoted in August 2011, Mr. Cook was Apple’s chief operating officer and was responsible for all the company’s worldwide sale and operations. According to an article posted on Fortune by Michael Lev-Ram retrieve on 11/31/2015, Young Smith, Apple’s head of human resources, was promoted to the top Human Resource role in February after her predecessor; Joel Podolny left the position to join Apple University, the company’s internal program. As an African American woman, she added diversity to the leadership team. SVP of retail Angela Ahrendts and Lisa Jackson, VP of environmental initiatives, are the only other women listed on the company’s executive leadership page. Even tough Young Smith’s mission is not limited to making Apple more inclusive; it has been a top priority. Another focus is applying some of what she learned from the retail side of business such as hiring more diverse workers. Young Smith has also created a new internal websites where employees can give feedback and make suggestions on just about anything and communicate among themselves. She has also researched out to other companies and says she is talking to her HR peers at other organizations to come up with ways to collaborate on inclusion initiatives. Releasing diversity numbers “was a wonderful call to action,” says Young Smith. “We’ve all been grappling with
In the year of 1990s Samsung has expanding and globalizing their business especially in electronic, particularly mobile phones and semiconductors, have become its most important source of income. Samsung have been operating over 50
This research paper entails an in-depth analysis of the multinational enterprise, Apple Inc. The goal is to illustrate how this company functions as a whole and how it is a leader in the technology industry. The research has been done by exploring the firm’s products, competitive position in the market, financial performance and foreign operations. A financial sample has been included to paint a picture of the company’s good standing in the year 2013. After examining these core factors, it is clear the Apple Inc. is a successful multinational company that has set a standard for the future of technology through its products. The company’s culture and modern marketing techniques highlight the importance of the strong foundation the company is built of. This research will provide important information that shows the company’s strategy that has numerously proven its succession. Apple Inc. is in good standing presently and forecasted to do the same in the years to come and mark a legacy for the modern era.
Steve Jobs who was cofound, chairman, and CEO of Apple Inc. and Apple Inc. is a good example of paradoxical thinking. Steve Jobs was a visionary leader. He cofound and grew Apple for 9 years, was ousted and in exile for 15 years and then returned to lead the company on 14-year campaign to glory, cut a contemporary heroic figure. (Decisionwise, n. d.) Steve Jobs and Apple already become the legend and the famous example in the business world.
Steve Jobs Apple Inc. Is an American company and also one of the largest companies across the world with highly valued technology which makes and sells many electronics including Mac software, personal computers and consumer electronics such as iPod, iPhone, iPad and Macintouch line of computers. On 1st April 1976 Apple Inc. was established and it almost 40 years. Further we will breakdown with its historical background. (Rawlinson, 2016)
“Microsoft was founded based on my vision of a personal computer on every desk and in every home, all running Microsoft software,” Bill Gates once remarked (Stevenson). Everyone has their own dream but this was Bill Gates dream when he first co-founded Microsoft. This dream came to haunt him 12 years later when he was caught. Microsoft was charged with using its power to eliminate its competitor in the Web-browser market in the mid-90s (Stevenson). Bill Gates’ dreams and passions lead him to try to monopolize the computer industry using Microsoft and the antitrust lawsuit that followed.
While this may sound like heresy relative to Apple history. The uniquely demanding strength and influence of Steve Jobs is integral to Apple’s heart and soul. Others will step up when he leaves but they will not replicate him. Furthermore, when Jobs’ strengths are overdone, errors occur. Past issues such as option backdating and disclosure failures regarding his personal health will have larger consequences in Apple’s wider world operation.
Company Background: Samsung is a South Korean multinational company those starting its business as a small trading company and right now becoming world largest corporation. The company deals with its business in several sectors such as advance technology, finance, petrochemical, semiconductors, plant construction, skyscraper, medicine, fashion, hotels, chemical and others. The company was established in 1969 in Suwon, South Korea and known globally for its electronic products (Kelly, 2011). The company is manufacturing several latest technologies, electronic appliances such as mobile phones, tablets, laptops, TVs, refrigerators, air conditioners, washers and other products. The company runs its operations and sales its products in 61 countries with approx 160,000 employees in all over the world (SAMSUNG, 2014). Moreover, the company acquired the position of the world biggest IT maker in 2009 by beating the Hewlett-Packard (HP) previous leader. Its sales revenue in the segment of LCD and LED is the highest in the world. Furthermore, Samsung also becomes world leader in the segment of tablets, mobile phones and gadgets.
This report aims to provide the executive directors and senior level management, of Fujitsu with a condensed insight into the potential use of the International Financial Reporting Standards (IFRS), as a substitute method of “corporate disclosure to its’ current reporting standards (GAAP)”, (American Institute of Certified Public Accountants, 2014). This report will analyse the primary benefits and limitations of adopting the IFRS as one of many accounting standards, thus ultimately aiming to provide a convincing recommendation as to its’ adoption and future application in Fujitsus’ operations and methods of financial reporting, (American Institute of Certified Public Accountants, 2014).