The accounting cost of Joe's computer software business is $70,000.
The accounting cost of a business refers to the explicit, monetary expenses incurred in running the business. It includes all the actual cash outflows associated with the business operations. In Joe's case, the accounting cost is calculated by summing up the expenses he incurs in his first year of business.
Salary paid to himself: Joe pays himself a salary of $40,000. This expense is part of the accounting cost because it represents a cash outflow from the business to compensate Joe for his work.
Rent: In Joe's case, he owns the building where his business is located, so there is no rental expense. Since he previously rented out the building and earned $29,000 per year from it, this expense is not applicable to his business anymore.
Other expenses: Joe incurs additional expenses of $30,000 in running his business. These could include costs such as office supplies, utilities, marketing expenses, and any other expenses directly related to the operations of his software business.
By summing up these expenses, we arrive at the total accounting cost of Joe's business, which amounts to $70,000.
It's important to note that accounting cost represents the explicit, monetary expenses and does not consider implicit costs or opportunity costs, which are relevant in determining the economic cost or the true cost of resources used in the business.
Learn more about Business from
https://brainly.com/question/29679635
#SPJ11
What effects did zaha have on guggenheim new york?
The effects that Zaha had on Guggenheim New York is that her current retrospective at the Solomon R. Guggenheim Museum in New York gives ample evidence of her genius. She has been busy and produced a staggeringly impressive body of work that is without equal for its inventiveness. This saved urban space and merges the elements of its surroundings. It also projects a brand new artificial landscape outweighted by funnel-shaped cones. The Solomon R. Guggenheim Museum, often referred to as The Guggenheim, is an art museum at 1071 Fifth Avenue on the corner of East 89th Street on the Upper East Side of Manhattan in New York City.
Who is Zaha Hadid?Dame Zaha Mohammad Hadid DBE RA was a British-Iraqi architect, artist and designer, recognised as a major figure in architecture of the late 20th and early 21st centuries.
Therefore, the correct answer is as given above
learn more about Zaha Hadid: https://brainly.com/question/7083561
#SPJ1
5x - 3y = 8
9 + 7y - 126
Answer:
x=7
y=9
Explanation:
:)
Which of the following information is needed when creating an effective budget? (1 point)
Onet income, variable expenses, fixed expenses, and savings
O gross income, variable income, fixed income, and savings
O net income, variable income, fixed income, and savings
O gross income, variable expenses, fixed expenses, and savings
Information is needed when creating an effective budget is net income, variable expenses, fixed expenses, and savings.
What is net income?Net income refers to the income of an individual or company after deducting expenses, benefits and taxes.
In business, net income is what a business has left over after all expenses, including wages, costs of goods or raw materials, and taxes. For an individual, net income is "take home" money after taxes, health insurance and pension contributions are deducted. Net income should ideally be greater than expenses to demonstrate financial health.
To calculate net income, take gross income - the total amount of money earned - and then subtract expenses such as taxes and interest payments.
To learn more about net income, refer;
https://brainly.com/question/20938437
#SPJ13
What impact will higher wages have on the labor force participation of women? 
Young black women with college degrees had the highest lifetime incomes but lower labor force participation rates.
In comparison to men, women have fewer opportunities to make money globally. Women are less likely to actively search for work or do paid labor. Compared to 80% of men, only slightly more than 50% of women in the world work. People's labor force involvement varies depending on demographic parameters such sex, birth year, education, marital status, and the presence of young children at home. Low female labor force participation in India is a complex socioeconomic phenomenon caused by factors like rural-urban migration, patriarchal attitudes, and an imbalance in supply and demand. Wages Increase for Men and Women When More Women Work. based on data from 250 U.S. cities over 30 years. The greatest major economic shift during the previous century was probably the rise of women in the paid employment.
To know more about wages on
https://brainly.com/question/29350980
According to the digital disconnect and the lecture, the global digital divide is the result of _____.
According to Digital Disconnect, the global digital divide is the result of the hyper-commercialization of Internet development that only serves affluent populations/groups.
The Digital Disconnect refers to experts' examination of current theory, research, and practice in socio-digital inequality. The Digital Disconnect provides a thorough analysis of capitalism's exploitation of the Internet. As per the Digital Disconnect, it is the hypercommercialism of mainstream computing technologies that causes the global digital divide. The global digital divide refers to global discrepancies, particularly between developing countries, and developed in access to computing and information resources such as the Internet, as well as the opportunities that such access provides.
You can learn more about global digital divide at
https://brainly.com/question/7478471
#SPJ4
If consumer confidence is high, individuals are multiple choice question. More willing to spend on big-ticket items. Not affected by consumer confidence. Less willing to spend on big-ticket items
If consumer confidence is high, individuals are more willing to spend on big-ticket items. The correct answer is A.
When people are confident, they are more likely to spend money on expensive products. This is because high consumer confidence indicates that people are optimistic about the future of the economy and their own personal financial situations.
As a result, they are more likely to make large purchases, such as buying a car or a house. Conversely, when consumer confidence is low, individuals are less willing to spend on big-ticket items because they are uncertain about the future and may be worried about their own financial stability.
Learn more about consumer confidence at https://brainly.com/question/29936185
#SPJ11
What did the large medical bill of $55,543 cover? What are three examples of health care expenses after surgery for appendicitis?
The large medical bill of $55,543 covered the surgery for appendicitis and the treatments received.
How does health insurance operate?A health insurance plan or policy pays a portion of the costs associated with hospital stays and doctor appointments. It exists to assist with reducing the expenses of medical occurrences, whether they are anticipated or unanticipated.
Depending on your age and income, the insurance provider will decide how much you will pay for your health insurance premium. In order to maintain your health and treat illnesses and accidents, health insurance is necessary. Having health insurance shields you and your family from financial hardships, which is only one of its many advantages.
Three examples of healthcare expenses after the surgery for appendicitis are the surgeon fees, the check-up cost, and the cost of hospital stay.
To learn more about health insurance, visit:
https://brainly.com/question/28521072
#SPJ1
What major Indigenous historical figure attempted to lead the Nimi’ipuu, the Nez Perce, from their Idaho reservation to self-imposed exile in Canada in 1877?
Mid- to late-19th-century Native American historical figure Chief Joseph is best remembered for his failed attempt to lead the Nimiipuu, or Nez Perce, from their reservation in Idaho to self-imposed exile in Canada in 1877.
What is historical figure?A historical figure is a person from the past whose actions had a major influence on other people's lives and consciousness. These individuals are given characteristics that are a combination of the real ideals they declared and the way they were viewed by others. Finding primary sources written by historical figures, such as autobiographies and memoirs, is an important part of researching them. Primary sources can also contain the world observations that a person made.
To learn more about historical figure click,
https://brainly.com/question/26499518
#SPJ1
Question:4
Krishna Furnishers Martstarted its operations in the year 1954 and emerged as the market leader in the industry
because oftheir original designs and efficiency in operations. They had a steadydemand fortheir products but overthe
years, they found their market share declining because of newentrants in the field. The firm decided to review their
operations and decided that in orderto meet the competition, they need to study and analyze the market trends and
then design and develop their products accordingly. List any two impacts of changes in business environmernt on
Krishna Furnishers Mart's operations. (Hint: increase in competition and Market orientation)
Kevin Feige is the president of Marvel Studios, Inc. and owns 25% of its stock. Marvel Inc. is organized as an $ corporation. During 2020, Marvel Inc. has a loss of $100,000. At the beginning of 2020, Kevin's amount at-risk in Marvel Inc. is $15,000. In 2021, Marvel Inc. has a taxable income of $120,000. Determine Kevin's (1) deduction amount for 2020 and 2021 and (2) the ending balance of amount at-risk for 2020 and 2021. (3) What is the purpose of the at risk-rules? I
Deductions and at-risk balances for Kevin are calculated based on his ownership, amount at-risk, and the corporation's income and losses, with the at-risk rules ensuring deductions align with personal investment and risk.
How are deductions and at-risk balances calculated for Kevin?To determine Kevin's deduction amount for 2020 and 2021, as well as the ending balance of the amount at-risk for both years, we need to consider the at-risk rules and the given information.
(1) Deduction amount for 2020 and 2021:
The deduction amount for a shareholder is limited to the amount at-risk. If the at-risk amount is higher than the shareholder's share of the corporation's losses, the deduction is limited to the amount at-risk. However, if the shareholder's share of losses exceeds the amount at-risk, the deduction is limited to the shareholder's basis in the stock.
Given:
Loss in 2020: $100,000
Taxable income in 2021: $120,000
Kevin's amount at-risk in 2020: $15,000
Kevin's ownership: 25% of Marvel Inc.
For 2020:
Since Kevin's amount at-risk ($15,000) is lower than the loss ($100,000), the deduction amount for 2020 is limited to the amount at-risk. Therefore, Kevin's deduction for 2020 is $15,000.
For 2021:
The taxable income in 2021 is $120,000. As the taxable income is positive, Kevin can utilize any unused losses from previous years. Since Kevin had a loss of $100,000 in 2020 but only deducted $15,000 due to the amount at-risk limitation, he can utilize the remaining $85,000 loss from 2020. Therefore, Kevin's deduction for 2021 is $85,000.
(2) Ending balance of amount at-risk for 2020 and 2021:
The ending balance of the amount at-risk for a year is calculated by adding the shareholder's share of the corporation's income and decreasing it by the shareholder's share of losses and distributions.
For 2020:
Kevin's share of the loss in 2020 is 25% of $100,000, which is $25,000. The ending balance of the amount at-risk for 2020 is calculated as:
$15,000 (initial amount at-risk) + $0 (income) - $25,000 (loss) = -$10,000
For 2021:
Kevin's share of the income in 2021 is 25% of $120,000, which is $30,000. The ending balance of the amount at-risk for 2021 is calculated as:
-$10,000 (previous balance) + $30,000 (income) - $0 (loss) = $20,000
(3) Purpose of the at-risk rules:
The at-risk rules are implemented to prevent shareholders from claiming losses that exceed their personal investment or "amount at-risk" in a particular business or investment activity. These rules help ensure that shareholders are personally liable for their share of losses and prevent excessive deductions that may not reflect the actual economic risk undertaken by the shareholder. The at-risk rules aim to maintain the integrity of the tax system by aligning deductions with the actual investment and risk exposure of the shareholders.
Learn more about deduction amount
brainly.com/question/31953309
#SPJ11
money leakages, however, are quite high. required reserves and leakages amount to 40% of deposits. what is the leakage-adjusted money multiplier?
The leakage-adjusted money multiplier is 0.6, since 40% of deposits are leakages, meaning that only 60% of deposits are available for creating new loans and increasing the money supply.
The leakage-adjusted money multiplier is a measure of the actual increase in the money supply that results from a given increase in bank reserves, after accounting for the money leakages caused by required reserves and other factors.
In this case, the leakage caused by required reserves and other factors amounts to 40% of deposits. Therefore, the leakage-adjusted money multiplier can be calculated as:
Leakage-adjusted money multiplier = 1 / (Required reserve ratio + Leakages)
= 1 / (0.4 + 0.4)
= 1 / 0.8
= 1.25
This means that for every $1 increase in bank reserves, the actual increase in the money supply would be $1.25, after accounting for the money leakages caused by required reserves and other factors.
Learn more about money supply
https://brainly.com/question/28891105
#SPJ4
The stock price of Alps Co. Is $67. Investors require a return of 10. 5 percent on similar stocks. If the company plans to pay a dividend of $4. 25 next year, what growth rate is expected for the company’s stock price?
the expected growth rate for the stock price of Alps Co. is 8.07%. This means that investors are anticipating that the company will increase its earnings and dividends by approximately 8.07% annually in the future.
To determine the growth rate expected for the stock price of Alps Co., we can use the Gordon Growth Model formula which states that the expected growth rate equals the dividend payment divided by the difference between the required rate of return and the dividend growth rate. Using the information given, we can calculate the expected growth rate as follows:
Dividend Payment = $4.25
Required Rate of Return = 10.5%
Stock Price = $67
Expected Growth Rate = ($4.25 / ($67 - $4.25)) - 10.5%
Expected Growth Rate = 0.0807 or 8.07%
Therefore, the expected growth rate for the stock price of Alps Co. is 8.07%. This means that investors are anticipating that the company will increase its earnings and dividends by approximately 8.07% annually in the future.
To know more about growth rate visit:
https://brainly.com/question/18485107
#SPJ11
If 72% of households reported paying no banking fees whatsoever, that means 28% of households paid all the fees. out of the total 131.3 million households in america, approximately how many paid banking fees in 2019?
36.764 million . If 72% of households reported paying no banking fees whatsoever, that means 28% of households paid all the fees. out of the total 131.3 million households.
in america, approximately Banking fees are any costs that financial institutions charge for opening, maintaining, and performing small transactions for their personal and commercial clients. These fees could be assessed once or repeatedly. A bank will charge you a monthly maintenance fee (also known as a monthly service fee) in exchange for your business. Each month, the cost is often automatically deducted from your account.36.764 million . If 72% of households reported paying no banking fees whatsoever, that means 28% of households paid all the fees. out of the total 131.3 million households.
learn more about Banking fees here:
https://brainly.com/question/28498239
#SPJ4
In a paragraph response below, describe how the structure and organization of this text affected the listening/reading experience. How did it enhance the message behind the speech?
Text structure gives a text meaning since writers must arrange their work differently based on the type of information they're trying to convey. By comprehending and making use of the text structure while reading, readers can learn important facts and, as a result, the book's overall goal.
What is text structure?Text structures explain the organization of information in writers' texts. By comprehending the fundamental structure of texts, students may focus on key concepts and relationships, make predictions about what will occur next, and keep a record of their knowledge as they read.
A few examples of text structures are sequential, narrative, time, compare/contrast, proposition/support, problem/solution, order/chronology, cause/effect, inductive/deductive, and research.
The structure of academic writing must be sound. Academic writing requires a clear framework and logical flow in order to be coherent.
Learn more about text structure, from:
brainly.com/question/14266510
#SPJ1
There is a formula to compute interest charges.
The formula is FC=P* R* T. In this formula, Tis
an abbreviation for what?
In the formula above, T is an abbreviation for time.
Which formula is I p * r * t ?This is said to be a Base formula. It is often written as I = Prt or I = P × r × t
Here, rate is known as r, time is denoted as t.
This is one that is the same time units known as months or years. Time conversions is one that is based on day numbers of 365 days/year.
Learn more about time from
https://brainly.com/question/25607827
sue owns a nursery that grows and sells flowers and trees. when a hurricane destroys her greenhouse and her grow lights with it, sue rents some grow lights to use in a temporary location until her greenhouse can be replaced. what commercial property insurance coverage might pay for this rental?
The commercial property insurance coverage might pay for this rental Extra Expense coverage.
Business Income insurance provides financial support to help cover lost income and operating expenses when a business is unable to operate normally due to a covered loss, such as the hurricane that damaged Sue's greenhouse. This coverage may compensate Sue for the income she loses during the time it takes to repair or replace the damaged property.
Extra Expense coverage is designed to cover additional costs incurred by a business as it works to return to normal operations after a covered loss. In Sue's case, this coverage could help pay for the rental of grow lights that she needs to use in a temporary location while her greenhouse is being replaced.
Both Business Income and Extra Expense coverages are essential for businesses like Sue's nursery that may face unexpected interruptions due to unforeseen events, such as natural disasters. By having these coverages in her commercial property insurance policy, Sue can better protect her business and ensure a faster recovery after the hurricane.
Know more about Extra Expense coverage here:
https://brainly.com/question/31464363
#SPJ11
Which of the following external forces is a part of a firm’s task environment? Multiple Choice the composition of the strategic group to which the firm belongs the interest rates prevalent in the economy in which the firm operates the inflation level in the economy in which the firm operates the recent innovations in process technology, including lean manufacturing
The external force that is a part of a firm's environment is the the composition of the strategic group to which the firm belongs.
What is a firm?A firm can be referred to as a business organization that was put in place or developed solely for the sake of making profits.
The firm has to have a good strategic group as a part of its environment. It is one of the factors that would help it to succeed.
Read more on firms here:
https://brainly.com/question/1151291
Which of the following is not an example of professional behavior
?
Which of the following would be a good argument to buy rather than lease? a. ""Money is really tight. I need the lowest possible monthly payment. "" b. ""It is very important for my image to drive the newest cars available. "" c. ""I’m only going to need it for a few years before I move back to Great Britain. "" d. ""I would prefer to walk out of the deal in the end with something to show for the money I put in. "" Please select the best answer from the choices provided A B C D.
When we buy something it becomes our property after purchase but not in the case of lease agreement. Thus, the correct option is "I would like to walk out of the deal with something to show for the money I put in,"
What exactly is a lease?A lease is a legal agreement in which a user agrees to pay the owner for the use of an item.
This differs from buying, in this the property turns into the users' assets after purchase; nonetheless, those who "would want to walk out of the deal with something to show for the money I put in" can choose to buy rather than lease.
Thus, Option D is the correct answer.
To learn more about lease, refer to the link:
https://brainly.com/question/24460932
Answer:
d
Explanation:
Influencers, deciders, and gatekeepers are examples based on segmentation
by.
A. type of organization
B. type of industry
C. location
D. role in the buying center
The following trial balance of Bramble Co. does not balance. BRAMBLE CO. TRIAL BALANCE JUNE 30, 2020 Debit Credit Cash $3,179 Accounts Receivable $2.952 Supplies 1,109 Equipment 4,109 Accounts Payable 2,975 Unearned Service Revenue 1.509 Common Stock 6,309 3,309 Retained Earnings Service Revenue 2,689 Salaries and Wages Expense 3,709 1,249 Office Expense Totals $14,637 $18.461 Each of the listed accounts should have a normal balance per the general ledger. An examination of the ledger and journal reveals the following errors. 1. Cash received from a customer on account was debited for $570, and Accounts Receivable was credited for the same amount. The actual collection was for $750. 2. The purchase of a computer printer on account for $809 was recorded as a debit to Supplies for $809 and a credit to Accounts Payable for $809. 3. Services were performed on account for a client for $890. Accounts Receivable was debited for $890 and Service Revenue was credited for $89. 4. A payment of $80 for telephone charges was recorded as a debit to Office Expense for $80 and a debit to Cash for $80. 5. When the Unearned Service Revenue account was reviewed, it was found that service revenue amounting to $634 was performed prior to June 30 (related to Unearned Service Revenue). 6. A debit posting to Salaries and Wages Expense of $979 was omitted. 7. A payment on account for $206 was credited to Cash for $206 and credited to Accounts Payable for $260. 8. A dividend of $884 was debited to Salaries and Wages Expense for $884 and credited to Cash for $884.
To revise Bramble Co.'s trial balance and make it balance, the following 8 errors must be corrected.
1. Cash received from a customer on account was debited for $570, and Accounts Receivable was credited for the same amount. The actual collection was for $750, so Accounts Receivable should be debited for $750 and Cash should be credited for $750.
2. The purchase of a computer printer on account for $809 was recorded as a debit to Supplies for $809 and a credit to Accounts Payable for $809. The correct entries should be a debit to Accounts Payable for $809 and a credit to Supplies for $809, since Supplies is a normal debit balance.
3. Services were performed on account for a client for $890. Accounts Receivable was debited for $890 and Service Revenue was credited for $89. The correct entries should be a debit to Service Revenue for $890 and a credit to Accounts Receivable for $890, since Service Revenue is a normal credit balance.
4. A payment of $80 for telephone charges was recorded as a debit to Office Expense for $80 and a debit to Cash for $80. The correct entries should be a debit to Cash for $80 and a credit to Office Expense for $80, since Office Expense is a normal credit balance.
5. When the Unearned Service Revenue account was reviewed, it was found that service revenue amounting to $634 was performed prior to June 30 (related to Unearned Service Revenue). The correct entries should be a debit to Service Revenue for $634 and a credit to Unearned Service Revenue for $634, since Unearned Service Revenue is a normal credit balance.
6. A debit posting to Salaries and Wages Expense of $979 was omitted. The correct entries should be a debit to Salaries and Wages Expense for $979 and a credit to Retained Earnings for $979, since Salaries and Wages Expense is a normal debit balance.
7. A payment on account for $206 was credited to Cash for $206 and credited to Accounts Payable for $260. The correct entries should be a debit to Accounts Payable for $206 and a credit to Cash for $206, since Accounts Payable is a normal debit balance.
8. A dividend of $884 was debited to Salaries and Wages Expense for $884 and credited to Cash for $884. The correct entries should be a debit to Cash for $884 and a credit to Retained Earnings for $884, since Retained Earnings is a normal credit balance.
Learn more about trial balance here https://brainly.com/question/30584187
#SPJ11
why is market development necessary ?
if a prospect calls to rsvp for a meeting, a permission to contact form is not required for that meeting but would be required for a representative to place a follow-up call to a meeting attendee.
'If a prospect calls to rsvp for a meeting, a permission to contact form is not required for that meeting but would be required for a representative to place a follow-up call to a meeting attendee.
This statement is True.
Prospect calls is defined as an internal sales rep calling or emailing a prospect to offer an opportunity to an account manager.
The idea behind the prospecting call is to find out if there is a potential match between two parties, and if so, to establish a relationship with the prospect instead of pitching the prospect over the phone. The focus is on building.
Prospecting is the first step in the sales process and consists of identifying potential customers, also called prospect calls . The goal of prospecting is to build a database of potential customers and communicate with them in a systematic way in hopes of converting potential customers to current customers.
Learn more about prospect calls https://brainly.com/question/28409282
#SPJ1
organizing an incident by breaking down the overall strategy into a series of smaller tasks is an example of:
An example of span of control is structuring an incident by dividing the overall plan into several more manageable jobs.
By "organization," what do you mean?An organization is made up of a group of people who work together, like in a union, business, nonprofit, or local association. A person, a group, a business, or the act of generating something can all be referred to as a "organization."
What does organizing one's life involve?The phrase is often utilized in this manner. The arrangement of elements for the execution of activities required for life, according to science, is what is meant by "organization." McKendrick will in 2021 Organization in biology refers to the hierarchy of complex biological systems and structures.
To know more about Organization visit:
https://brainly.com/question/28477679
#SPJ4
A number calculated by an independent party which represents what he current market rate as calculated using various factors is called a
A number calculated by an independent party which represents the current market rate as calculated using various factors is called an Index.
What is an Index?
Index is an entity that helps to compare the returns yielded during any investments. This tool is used by financial managers and investors of the market to describe the market face.
It is also essentially a roadmap to the book, listing names, places, and things in alphabetical order and giving the page numbers associated with each topic.
Learn more about Index here,
https://brainly.com/question/13326094
#SPJ1
Answer:
index
Explanation:
I jus did it.
In what three ways does the government affect production of goods and services in the US economy?
What economic system emerged during the industrial revolution.
Answer:
Capitalism
Explanation:
What term refers to a situation in which it's more efficient and actually more
desirable to have just one company rather than several competing companies?
Answer:
Natural monopoly is the term that refers to a situation where it's more efficient and actually more desirable to have just one company rather than several competing companies.
Explanation:
An example of a natural monopoly is the tap water. Logically, just having a single company providing a network of pipes and sewage systems works well, this is because there are very high capital costs when it comes to setting up a national network of water pipes and sewers. if you have two different companies offering water the mean cost would be very high compared to just one firm and one network.
Answer:
natural monopoly
Explanation:
you're preparing a new campaign for a global textile manufacturer, using engaging creative formats. you need to select a tool that has templates to allow direct upload of creatives to display & video 360.
The two Go-ogle tools that meet this requirement are Go-ogle Web Designer and Ad Canvas.
Go-ogle Web Designer is a free web app that you can use to build HTML5 creatives. It comes with a variety of templates and features that make it easy to create engaging and interactive creatives. Once you've built your creative, you can package it in a zip file and upload it directly to Display & Video 360.
Ad Canvas is a drag-and-drop tool that you can use to create rich media ads. It comes with a library of templates and assets that you can use to create your ads. Once you've created your ad, you can export it in a variety of formats, including one that can be uploaded directly to Display & Video 360.
Both Go-ogle Web Designer and Ad Canvas are great tools for creating engaging creatives that can be uploaded directly to Display & Video 360. The best tool for you will depend on your specific needs and preferences. If you're looking for a tool that gives you more control over the creative design process, then Go-ogle Web Designer is a good option. If you're looking for a tool that's easy to use and comes with a library of pre-made templates, then Ad Canvas is a good option.
Here is a table that summarizes the key differences between Go-ogle Web Designer and Ad Canvas:
Feature Go-ogle Web Designer Ad Canvas
Creative format HTML5 Rich media
Templates Yes Yes
Assets Yes Yes
Export formats zip, HTML, JavaScript zip, HTML, JavaScript, SWF
Direct upload to Display & Video 360 Yes Yes
Ease of use More complex Easier to use
Creative control More control Less control
Ultimately, the best way to decide which tool is right for you is to try them both out and see which one you prefer.
To learn more about Web Designer here:
https://brainly.com/question/33560647
#SPJ4
Large number of locals got decent jobs at Glen Limited. The company has expanded and the need for extra hands grew. This need was met by appointing staff from all over the world. It is time to for Glen Ltd put governance and control measures in place, and in particular to prevent possible bribery.
Question:
Critically examine how governance and control measures are applied in the business environment in South Africa. Give a detailed explanation of how South African laws to prevent bribery differ from UK and US legislation.
South Africa, the UK, and the US have implemented laws and regulations to prevent bribery. While there are similarities in the objective of combating corruption, the jurisdictional reach, enforcement mechanisms, and penalties differ among these countries. It is essential for Glen Ltd to understand and comply with the specific requirements of the South African legislation to effectively prevent bribery and maintain good governance and control within their business operations.
In the business environment of South Africa, governance and control measures play a crucial role in preventing bribery and ensuring ethical business practices. The country has implemented various laws and regulations to combat corruption and bribery, aiming to create a transparent and accountable business environment. One of the key legislative measures in South Africa is the Prevention and Combating of Corrupt Activities Act (PCCA) of 2004.
The PCCA establishes offenses related to corruption, including bribery, extortion, and money laundering. It criminalizes both the offering and acceptance of bribes, whether they are directed at public officials or individuals in the private sector. The act also provides for the investigation and prosecution of such offenses, with severe penalties imposed on offenders.
Compared to UK and US legislation, South African laws to prevent bribery share some similarities but also have notable differences. The UK has the Bribery Act of 2010, which is known for its extraterritorial reach and strict provisions. It prohibits bribing public officials and private individuals, both domestically and internationally, and introduces a corporate offense of failing to prevent bribery.
In the US, the Foreign Corrupt Practices Act (FCPA) of 1977 addresses bribery of foreign officials by US companies and individuals. The FCPA prohibits corrupt payments, imposes accounting requirements, and has rigorous enforcement mechanisms.
While all three jurisdictions have laws targeting bribery, the key differences lie in the scope of extraterritorial jurisdiction, enforcement mechanisms, and penalties. The UK and US laws have broader extraterritorial reach, covering not only domestic but also international bribery. In contrast, South African legislation primarily focuses on domestic bribery but still criminalizes bribery involving foreign public officials.
Enforcement and penalties also differ. The UK and US have established specialized agencies, such as the Serious Fraud Office (SFO) and the Department of Justice (DOJ), responsible for investigating and prosecuting bribery cases. They can impose significant fines and penalties on both individuals and corporations. South Africa also has dedicated agencies, such as the Directorate for Priority Crime Investigation (Hawks) and the National Prosecuting Authority (NPA), which enforce anti-corruption laws.
Learn more about South Africa
https://brainly.com/question/32265145
#SPJ11