What are the benefits and costs of using a common currency for Greece, Germany and the EU Free Essay Example, 1250 words

Benefits and costs of using Common Currency in Greece, Germany and Eurozone The mutual acceptance of Euro as a common currency between the Eurozone nations does away with exchange of currencies between the Eurozone nations. This resulted in savings due to reduced transaction cost because of the import and export between the many Eurozone nations which required exchanging currencies (Eudey, pp. 14). As a result of reduced transaction costs, Eurozone nations expected a thirty billion dollar annual savings (The Euro, the European Central Bank, p. 154). Directly as result of eliminating exchange of currencies, the exchange rate volatility was also removed. These exchange rate fluctuations make the trade between countries more risky; because if one currency devalues in relation to other, the marketer of the depreciated currency will be affected by getting less than what his product is worth. Or conversely the buyer of depreciated currency may require paying more than what he originally c ontracted for (Eudey, pp. 14-15). Exchange rate rish is thus another form of transaction cost which was avoided. Another major benefit of Euro as the common currency was the avoidance of speculation. We will write a custom essay sample on What are the benefits and costs of using a common currency for Greece, Germany and the EU or any topic specifically for you Only $17.96 $11.86/pageorder now Before the introduction of Euro, speculation used to greatly occur throughout the Europe. Whenever a currency was thought to be devalued in near future, people used to sell all their holdings in that currency. The only solution to the problem of speculation was keeping the interest rates as high as possible to keep the people interest in the currency. These high interest rates were bad for the economy and hindered economic progress in Europe during 90s (Eudey, pp. 15, 16). Adoption of Euro as a common currency thus removed speculation and economies of the member countries could develop and flourish easily without the disadvantages of higher interest rates. Euro also does away with the problem of competitive devaluation of currency among the member nations. Before the era of Euro, European nations used to devalue their currency to increase the exports. Inflation was a direct result of this devalution (Eudey, p. 15). The adoption of common currency did in fact come with many costs as well. The first and the foremost disadvantage of adopting common currency by the Eurozone countries was that by accepting Euro as national currency they surrendered their right to adopt and change their monetary and economic policies to suit their domestic conditions (The Euro: Expect, pp. 123). There was another big cost of not being able to adjust the exchange rates between trading countries to eliminate the economic falloffs of individual countries.

Historical Literature Of Studying The Cyclical Behavior Of...

Literature Review For this aspect, it should review historical literature of studying the cyclical behaviour of wages in detail compare with last part and it is very useful to make a contribution for latter aspect in this paper. The literature review begins with Keynes (1936) believed that the patterns of real wages and employments over the business cycle shows the movements of a fixed and short run labour demand schedule, which means he agreed with the opinions of classical economics. It implied prediction of countercyclical wage movements through a cycle of empirical testing and new theorizing until today. While Dunlop (1938) and Tarshis (1939) are found and interpret some evidences to supporting non-Keynesian theory and they propose that procyclical correlation of real wages over business. They states that countercyclical movements of real wages is not perfect conclusion and the measurement is not complicated and accurate. This a first time someone studied procyclical theory and then economist start to use â€Å"procyclical† as a glossary to describe this economic prediction while other glossary also appear, such as â€Å"countercyclical†, â€Å"weakly procyclical† and â€Å"noncycl ical†. Many economists also make numerous studies against this economic prediction and proposed many evidences of procyclical correlation of real wages. Bodkin (1969) found that the acyclic data of real wages could not be rejected and it is an interesting result presented by Bodkin. He found that theShow MoreRelatedEntrepreneurship Development10530 Words   |  43 PagesChapter 5 ENTREPRENEURSHIP DEVELOPMENT ENVIRONMENT Entrepreneurship is not an inborn skill; it is a product of environment. It involves a complex of economic and social behavior. To be successful, an entrepreneur has to remain dynamic and responsible to the whole environment. Entrepreneurship can hardly survive under any given circumstances. It can flourish only under right environment. It is a part of total system. 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High School and Exemption Forms Free Essays

I am in the process of distributing Exemption Forms to students today. I wanted to go over a few things with you so that we are all on the same page. Exemptions were put into place to encourage and reward good attendance and behavior. We will write a custom essay sample on High School and Exemption Forms or any similar topic only for you Order Now This is not a privilege entitled to every student simply because they are enrolled in our school†¦ It is a REWARD. Please pass this on to your students. The rules are very simple†¦. If you have been in SIS, DEEP or if you have been suspended this semester, then you can’t be exempt. The average that a student must have in your class in order to be exempt is based on he number of absences that he or she has in your class. A. If a student has 0-1 excused absence in your class, their semester average must be an 80 or above B. If a student has 2 excused absences in your class, their semester average must be an 85 or above C. If a student has 3 excused absences in your class, their semester average ,must be a 90 or above If a student has an unexcused absence in your class, they may not be exempt from your test. Notes for unexcused absences will not be accepted at this point. It is the students’ responsibility to turn in notes within 5 days of returning to school after they eave been absent. Please do not give the student the attendance information that you see in your grade book as this includes extracurricular absences in the total number and those do not count. How to cite High School and Exemption Forms, Papers

Organizational Competencies and Dynamic Accounting †Free Samples

Question: Discuss about the Organizational Competencies and Dynamic Accounting. Answer: Introduction Accounting information is looked upon as one of the essential economic data for a business entity. It directly reveals and administers the business scenario of an organization and thereby provides a key foundation for the purpose of undertaking business and management decisions (Kong, 2017). Hence, it is essential to ascertain the efficiency of the overall accounting system technique. This report would summarize the outputs, participants and inputs of the case. Thereafter, the present business mechanism framework would be provided and the report will summarise the existing strengths and weaknesses that are available within the present accounting system. At the end, the new and the advanced business evaluation framework will be summarised and the associated weaknesses and strengths will be addressed. Ismail, King (2014) constructed a framework of cognitive implementation to the modifications in the accounting information system and even examined the hypothesis regarding whether entities implement their decision making system in order to make transformations in the accounting information system, which is ascertained by the interface of the tasks, precise knowledge, cognitive capability and influences in order to make suitable decisions. Khairi, Baridwan (2015) undertook a study on the examination of a methodology in order to construct information systems related to GAAP. The intended process recorded GAAP in the format of an electronic text and is retrieved by the theoretical area. The research that is undertaken by Diatmika et al., (2016) assesses the inter organization impacts on accounting information system of the small businesses when the Electronic Data Interchange (EDI) is incorporated at the request of the renowned partners of trade. Understanding the Business Process in the organization In accordance to this scenario, GMAS has been incorporated in order to create a group of management accounting services that is outsourced and is constructed in order to satisfy the needs of the medium and the small scale businesses. Therefore, GMAS needs to make sure that the overall process is effective and clear. The exploitation of the information technology would in a precise manner raise the level of productivity. Prasad, Green (2015) have addressed that GMAS provides a collection of outsourced management accounting services, so the participants are inclusive of all the units during the process of accounting. Hence, in this case the applicants are the accounts receivable, collectors of debts, and department of accounting process, the clients, payroll department, compliance team, the management and the IT department. The present model of the business process is efficient and to the point. In a summary, when a client signs the agreement with GMAS, the system would be assessing. In the initial stage, the accounts receivable would receipt the consumer and compute the commission for the sales executive in accordance to the agreement and thereafter the payroll department would gather the data in order to recognise the salary of every individual employee. At the end, the accounting information process would obtain all the information and thereafter the IT department would publish a report that is dependent on the information of the management. The overall system is very clear and short. Problem Analysis of the organization In accordance to GMAS, there are two elements that might reduce the efficiency. In one of the aspects, the entire mechanism would be associated to a third party organization, who is the debt collector. It is a very general plan in order to outsource the businesses is non-core and then thereafter preserves the central business activities. Islam et al., (2017) explains that debt issues would have an impact on the wages of the salaries. The process of outsourcing the collection of debts to a third party organization would be helpful in assisting human resources of the organization in order to ensure that the human resource would concentrate on the pivotal businesses. Ismail, King (2014) cited that every organization have their own working flow when a new debt is forwarded to the debt collectors and they will assess the business in their own manner. This process is helpful in reducing the effectiveness of the service. However, Fitriati, Mulyani (2015) addressed that the accounting depa rtment would provide a report to the management on a monthly basis, which is a lower level of efficiency in order to administer the organization. Patel, (2015) explained that monthly and weekly statements would not be able to ascertain the relevance for the data and this would lower the efficiency. The incorrectness of the information would not provide the commission to the employee on time and they may have to wait for weeks or months in order to receive the commission. The developed business assessing framework has enhanced the utilisation of information technology and amended the issues related to debt. In a summary, when the consumer signs an agreement with GMAS, they would be assessing the technique. The accounts receivable would provide a receipt to the customers and compute the commission for representatives of sales in accordance to the agreement and additional steps would be taken if the applicant does not pay for the service. Bai et al., (2018) addressed that at the conclusion the accounting information system would gather the information and then the department of IT would publish a report that is on the basis of the information and this report is effective as they can directly gather the information from the database. The utilisation of the technology of database would be helpful in gathering the information at any course of time and this would effectively raise the efficiency of work. Reference List Bai, L., Koveos, P., Liu, M. (2018). Applying an ontology-augmenting XBRL model to accounting information system for business integration. Asia-Pacific Journal of Accounting Economics, 25(1-2), 75-97. Diatmika, I. W. B., Irianto, G., Baridwan, Z. (2016). Determinants of Behavior Intention Of Accounting Information Systems Based Information Technology Acceptance.Imperial Journal of Interdisciplinary Research,2(8). Fitriati, A., Mulyani, S. (2015). Factors that affect accounting information system success and its implication on accounting information quality.Asian Journal of Information Technology,14(5), 154-161. Islam, K., CH, A. R., Bilal, A. R., Ilyas, M. U. H. A. M. M. A. D. (2017). Accounting Information Systems: Traditions and Future Directions (By Using AIS in Traditional Organizations).The Journal of Internet Banking and Commerce,22(2), 1-13. Ismail, N. A., King, M. (2014). Factors influencing the alignment of accounting information systems in small and medium sized Malaysian manufacturing firms.Journal of Information Systems and Small Business,1(1-2), 1-20. Ismail, N. A., King, M. (2014). Factors influencing the alignment of accounting information systems in small and medium sized Malaysian manufacturing firms.Journal of Information Systems and Small Business,1(1-2), 1-20. Khairi, M. S., Baridwan, Z. (2015). An empirical study on organizational acceptance accounting information systems in Sharia banking.The International Journal of Accounting and Business Society,23(1), 97-122. Kong, L. (2017, May). Risk Evaluation Scheme for Accounting Information System Based on Analytic Hierarchy Process. In Smart Grid and Electrical Automation (ICSGEA), 2017 International Conference on (pp. 556-559). IEEE. Patel, S. (2015). Effects of accounting information system on organizational profitability.International Journal of Research and Analytical Reviews,2(1), 72-76. Prasad, A., Green, P. (2015). Organizational competencies and dynamic accounting information system capability: impact on AIS processes and firm performance.Journal of Information Systems,29(3), 123-149.