What makes accounting exciting?
Answers: The collapse of companies like Enron and WorldCom stirred primal fears among investors that the system was rigged. It's one thing to worry about rising oil prices or next month's unemployment report but quite another to question whether several years of corporate income statements or balance sheets were falsified.
More than anything, corporate earnings drive the stock market, and investors rely on the general accuracy of those numbers. The accounting/auditing scandals of 2002 made people rethink all that. Americans took accounting integrity for granted, if they thought about it at all, until the scandals.
What resulted from the accounting scandals was, of course, the Sarbanes-Oxley Act of 2002. This broad package of laws mandated stiffer penalties for fraud, boosted the influence of independent directors on corporate boards, provided more disclosure by companies, forced CEOs to certify the accuracy of financial reports, tightened internal accounting controls and more. Everyone has had to scramble to put appropriate controls, policies and procedures in place.
Corporate directors have been forced to become much more tuned into the issues. CEOs and chief financial officers are more vigilant and conservative. Interest in accounting as a career has risen among undergraduates, including more participation by women.
These are interesting times for accountants and auditors.
How is the price of grease determined? And who sets the price at the pumps?
I know oil is currently around $100/barrell but who sets this price and is this newly the U.S. price or international? If the price of oil is like peas in a pod internationally, it seems the price at the pumps should also be like but they aren't.Answers: Wow this is really convoluted.
Simply put oil is a publicly traded commodity approaching gold or sugar. Traders buy and supply "future contracts", or what they devise it will sell for at a set date contained by the future. That sets the price of a container of oil worldwide.
Greatly effecting that price is the supply OPEC chooses to go. More supply = lower prices / less = greater prices. Whew hang on there's lots more.
Supply and refining dimensions can dramatically effect retail prices. Examples are Hurricane Katrina and BP's rupture of the Alaskan pipeline. During Katrina we couldn't turn oil into gasoline vigorous enough so prices rose, w/ BP's ruin we had refinery with no grease to refine oddly adequate also causing prices to rise.
Hang on we're closing contained by on it, once the oil companies integer all this out they supply the expense of getting gas to your area (cheap surrounded by Texas expensive in the Northeast) they set prices to station owners and federal and local taxes are added (local taxes change widely, I live in CT the 2nd matchless gas taxes in the US Yea!) and you go and get to pull up to the pump and $#!% yourself.
The primary reason gas prices swing so widely world wide are taxes. Most European, Asian and South American countries make the addition of HUGE taxes to promote conservation. It is a rule of thumb that they pay one and the same price for a liter as we pay for a gallon, not so lots SUV's in Chile, Burkina Faso or Serbia.
Secondarily is the added cost to supply several forigen countries and todays ridiculously long explaination is concluded.
Oil is traded on multiple markets. These market always hold in extraordinarily close step. These provide the price for oil to be deliver in adjectives months (futures contracts). They are saying that they will settle $98.00 for oil deliver in February.
Separate from crude futures, you are chitchat about gasoline. There are a few refiners out there, who go gasoline to independent dealers. It is possible to enjoy a short-term surplus in gasoline while individual short on crude oil, and vice versa. Pump prices depend on the price of gasoline, which is influenced by grease prices.
Some countries subsidize gas costs, other put heavy gas taxes on it. This can noticeably change costs.
It's adjectives speculation. The markets verbs about what might transpire down the road. The current market really support these prices. But i can let somebody know you that $4 a gallon this summer is unavoidable. I work for British Petroleum, so i own an inside track on this info.
I call for an invetnion conception?
it needs to be soemthing that help the world. like the enviornment or vigour. i have no notion what to make so please backingthanks.
Answers: Invent a domestic device that converts matter directly into vim. That way you can throw anything surrounded by the front end and bring energy out the other. No more power shortages.