The profession of the auditor is considered to be one of the most prestigious and well-paid ones. Auditors are accountants who analyze financial statements of the company and their responsibility is to express an opinion as to whether the accuracy of the company’s financial reporting meets the requirements imposed by the government. In general, auditors deal with operating efficiency and managerial effectiveness than with the accuracy of the accounting data. __(‘Read the rest of this entry »’)
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The theory of supply is the theory of how much output firms choose to produce. The principal assumption of the supply theory is that the producer will maintain the level of output at which he maximizes his profit.
Profit can be defined in terms of revenue and costs. Revenue is what the firm earns by selling goods or services in a given such as a year. Costs are the expenses which are necessary for producing and selling goods or services during the period. Profit is the revenue from selling the output minus the costs of input used. __(‘Read the rest of this entry »’)
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Many of today’s corporations have thousands of employees and control billions of dollars in assets and it is the large corporations that define the structure of the nation’s economy in the USA.
They often dominate major industries and regional economies, and make it possible to produce goods and services that require combining massive amounts of capital, technological know-how, labour resources, managerial skill, and the ability to obtain and process large and nodiverse amounts of information.
In 1990 the combined sales of the large 500 US industrial corporations were estimated as $2.3 trillion, profits reached $93.4 billion, and they collectively employed nearly 12.5 million workers. __(‘Read the rest of this entry »’)
The combined annual revenues of the world’s top five corporations alone were nearly $450 billion and it was more than the gross national product of several countries.
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In 1952 a definite step towards economic integration was taken with the formation of the European Coal and Steel Community, whose purpose was to unite coal and steel resources of six nations (France, Belgium, Luxembourg, the Netherlands, Italy, West Germany) and to eliminate trade barriers on these resources.
The success of this Community led to the formation in 1958 of the European Economic Community (EEC), usually called the Common Market.
This association including the same nations was formally established by one of the Treaties of Rome and the main goals were the following:
1) to remove barriers to trade among the member nations,
2) to establish a single commercial policy toward non-member countries,
3) to coordinate members’ transportation system, agricultural and general economic policies,
4) to remove private and public measure restricting free competition,
5) to ensure the mobility of labour and capital among the members.
Different countries joined this coalition later: the United Kingdom, Denmark and Ireland in 1973, Greece in 1981, Poland and Spain in 1986.
The former East Germany was admitted as part of reunified Germany in 1990. Austria, Finland and Sweden joined in 1995. The four primary structural organs of the EEC were the Commission, the Council of Ministers, the Court of Justice and the European Parliament.
From the beginning one of the EEC’s main goals was to eliminate the tariffs and quotas imposeв by its members on each other’s exports. The first tariff reduction, 10 percent on industrial goods, was made in 1959 and this proved to be so successful in stimulating trade between member states that by 1968 all internal tariffs had been removed. However, the movement toward the common external tariff advanced at a slower pace. Trade among the members of the EEC quadrupled in value in the period from 1958 to 1968.
A common agricultural policy was established in 1962 and consisted of a system of common guaranteed prices that would offer protection against agricultural imports from lower-cost markets outside the EEC. Progress has been made toward common internal policies regarding monopoly control, transportation and social security system.
Furthermore, labour-force training and mobility have received increased coordination. So, the Common Market has contributed greatly toward economic growth and prosperity in Western Europe. Later the European Economic Community was renamed the European Community (EC) and after some reorganizations in 1967 and 1980 the EC became the principal organization within the European Union (EU) formed in 1993.
The commission of the EC is headed by 20 members including a president and several vice presidents with at least one commissioner from each nation in the Union.
This Commission is responsible for the formal and practical implementation of the various treaties of the Union and rules issued by the Council of Ministers, prepares different acts, implements the EU’s agricultural policies and regional development programmes, etc.
The Council of Ministers, the European Council, the European Parliament, the Court of Auditors, the European Investment Bank, the Economic and Social Committee are the main branches of the European Union.
According to the survey, at least once searched for in Google or any other search engine his name 47 percent of Americans. Compared with 2002, and their number has doubled. In addition to themselves, people usually look for information on their friends, colleagues and beloved.
The Americans under 50 years of age, having a good education and higher income, more inclined to seek information about themselves. Sometimes this is due to the fact that their work requires a certain image on the Internet.
60 percent of users are not interested in that their data is on a network, rather, they are concerned about how they might be used.
53 percent of those surveyed reported that the internet looking for information about other people, not about celebrities. Often, they are looking for people with whom lost contact, but also to search for evidence of neighbors, friends and colleagues-widespread phenomenon.
In most cases, people are looking for contact information for those who need them, but a third of those surveyed admitted that they were looking for information on bankruptcy and divorce available in the public domain. Moreover, in that approximate equal number of men and women looking for themselves, women are more inclined to seek information on those with whom they met.
At the same time, despite a serious increase in the number of users seeking themselves, many people have never done this is not.
Investment Bank Goldman Sachs Financial Holding Citigroup added to the list of companies whose shares are encouraged to sell, transfer Associated Press. Goldman Sachs analyst William Tanona found that Citigroup in the next two quarters will have to write off up to 15 billion dollars and possibly reduce dividends.
Message to demote recommendation on shares of American Citigroup led the indices started, begin to drop. Also negatively affected the markets and high oil prices. Already after the first indicator of stock transactions Dow Jones dropped almost 90 points, Nasdaq at 21 item, and S & P 500 by 11 points.
Citigroup back in October 2007, announced a write-off of 3.3 billion dollars of bad debt. In early November, the newspaper The Wall Street Journal estimated that the financial losses may be between 8 and 11 billion dollars. The next day, Citigroup left its head, Prince Charles.
The reason for the losses Citigroup, like many other financial institutions, is a mortgage crisis. The company intends to eliminate its effects by the middle of 2008.
Australian authorities are going to accept the new rating system to evaluate the consumption of electric power by house electric equipment. The six-grade rating system may lead to the disappearance of the up-to-date plasma and liquid-crystalline TVs from the market within the country .
In the report accompanying the rating system written by the federal government it is pointed out that during the last ten years the demand for LCD and plasma monitors, that consummate much more energy than the ordinary TVs, has considerably increased. That’s why there is the necessity to introduce the rating system of energy consumption that will warn the buyer of the possible taxes increase. In case of the positive decision the rating system will be introduced by 2011.
Representatives of the companies producing “energy unfriendly” house equipment mentioned that this rating system is with no doubt a good idea. But to put the production in accordance with the new standards will take more time than is given by the Australian government.
Tim O’Keith, the coordinator of the Australian digital industry forum, has the same opinion. He highlights that Australia’s electric equipment market isn’t big enough for the producers to change anything considerably.
The representative of the Australian department for environmental protection Jean McGlinn supposes that in order to put the production in accordance with any standards it will take maximum two years for the producers of electric equipment to do it.
The names of 2007 Nobel Prize winners in physics are declared in Sweden. They are Albert Fert and Peter Grunberg who independently discovered the effect of the Giant Magnetoresistance in 1988.
The effect of the Giant Magnetoresistance allows to create the structures where the inconsiderable change of the magnetic field leads to a considerable change of the electric resistance of the whole system.
This discovery, which was classified by the Nobel Prize Committee as nanotechnic, found its practical realization in the computer hard disks and allowed in the last years to reduce the size and increase the capacity of the latter. The first information reading systems based upon the effect of the Giant Magnetoresistance were created in 1997 and soon became the industrial standard.
Albert Fert was born in 1938, he’s a citizen of France and works at the university Paris-11. Peter Grunberg was born in Germany in 1939. He works for the research centre in the German city Julich, North Rhine-Westphfalia state.
Since 2001 the Nobel Prize in each category amounts 10 million krona (in 2007 this amount was equal to 1,542 million dollars). As there are two winners in the same category, the prize will be divided equally between them.
The solemn ceremony of Nobel Prize awards will take place on December, 10th, on the day of Alfred Nobel’s death. The King of Sweden will, traditionally, present the awards in Stockholm Concert House and then the Nobel banquet will be carried out in the Blue room of the city hall .
I’m happy: Microsoft will release three versions of Office 2008 for Mac suite in January, with the most expensive of the bunch aimed at creative professionals overwhelmed by the task of organizing their digital media files.
Office 2008 for Mac Student and Home Edition, which includes three licenses for Word, Excel, PowerPoint and Entourage, an e- mail, calendar, contacts program, will cost $150.
A $400 version aimed at professionals who use Apple Inc. computers, simply called Office 2008 for Mac, includes the same programs as Home and Student.
A third version, the $500 Special Media Edition, adds features to the $400 configuration, including Expression Media, a program that helps computer users organize and manipulate digital photos, video and other files.
All three versions work on Intel-based Macs and older PowerPC machines.Apple announced in August that it added a spreadsheet program to iWork, the company’s own productivity software suite. Apple sells individual licenses for $80 and family packs, which allow users to install the programs on five different computers, for $100.
Excellent news, wait! 😉