Analyzing Foreign Financial Statements Essay Example | Topics and Well Written Essays - 750 words

Analyzing Foreign Financial Statements - Essay Example This poses a problem for financial analysts who do not have access to a copy of the organization’s annual report (American Institute of CPAs, 2010). Language poses another problem for analysts looking to analyze foreign financial statements. Numerous global organizations do not generate financial reports in English, making it hard for analyses with English as their native languages (American Institute of CPAs, 2010). For example, the financial record could remain illegible until a possible translator is hired for assistance. Conveniently, many multinationals present their financial statements in their native languages and English ones as well. A third problem is currency. Non-dollar-pegged countries have firms that release their financial statements in their local currencies (Musher, Wilkins, and Shulman, 2012). An analyst from the United States or a dollar-pegged nation would find it cumbersome to convert all entries into dollars for better analysis. Converting all balances at the exchange rate at the closing of the present fiscal year is tiresome, but a solution nonetheless (American Institute of CPAs, 2010). For example, fail ing to use the existing current exchange rate will distort the analyst’s work. To avoid distortion, analyzing the foreign financial statement using ratios improves the outcome irrespective of the currency applied (American Institute of CPAs, 2010). A third problem is terminology. Different countries use different words of the same language to compose their financial records. For instance, the United Kingdom usually uses the word turnover to refer to sales in the United States. In instances of convenience conversions, companies occasionally include terminology that English analysts are not used to (Musher et al., 2012). In this case, the analyst is forced to be versant with foreign trade and accounting diction to help alleviate this issue. For instance, in 2005, differences in the UK and US terminology in

How to Manage Negotiation - Using Mistakes to Explain Research Paper

How to Manage Negotiation - Using Mistakes to Explain - Research Paper Example The purpose of negotiation is to discover the circumstances, and to obtain a solution that is satisfactory to both group. It’s helpful to have uniformity in the employees where distinct kind of person is able to bring about different returns to the business. But this uniformity frequently leads to change of judgment among two workers or two different departments. Conflicts are a part of working situation and as a manager cannot remove the dispute in total; all they could do is to direct them in a manner that it won't influence the level of productivity. Managing Negotiation: Efficiently managed negotiations will leads to agreements and that increases the worth of the organization. Further, they present extremely better profits per investment. On the other hand, unsuccessfully completed negotiations, eventually result in exhausted capital and improved expenses to the organization, creating both the manager and the organization in a difficult where capital effort makes it harder to create the lost position and attain constructive consequences. The faster they manage them, the more the benefits will be for the business if not the conflicts will provide means to destructive performance and lack of group hard work, and as an it causes low output. Mistakes in Negotiation: Negotiation is a hard skill as it needs momentum, in immediately, in the other person's mind and in one’s own. While the managers have to concentrate on positives, it is uniformly significant not to neglect the negative feature of negotiations. There are a set of mistakes that all of us make and we need to be conscious of to be at our most excellent when negotiating. These mistakes happen all the moment. In a number of situations, they occur by mistake. At other instance, some people create these mistakes on intentionally. They overlook conservative understanding and perceptive recommendation and decide to negotiate in a way that brings no success to the negotiation. There are a number of mistakes that negotiators can create and should evade at all costs in order to be a successful negotiator. The two of them are discussed here. 1. Neglecting the Other Side's Problem: A person alone cannot make negotiation the other party is equally involved in it. Therefore, one must take into consideration the other persons interests or problems. The parties should try to place themselves in the other's place. The parties should not merely suppose that their bad doubts will turn out to be the dealings of the other party. They should not accuse the other for the problem. Each party should try to give suggestions which would be pleasing to the other party. â€Å"The objective of negotiation is to seek a win – win solution and if win and lose solution happens than you are neglecting the other side’s problem† (Lalitbhojwani). Consider the example of a manager firing one of the employees in the organization. The manager argues and fires the staff for a long time for his low performance, without asking the reasons for his poor performance. According to the employee, he/ she will be some personal or official problems which lead the employee to perform poorly. In this situation, the manager needs to listen carefully to the problems of the employees so that the manager can solve the problem very easily. Considering the opinions of outside parties is useful.