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    BUEC05903 - Buisness Economics

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    BUSINESS ECONOMICS (BUECO5903) ASSIGNMENT PART B - MACROECONOMICS SEMESTER 1, 2018 COURSE COORDINATOR — PAUL MCPHEE CHECKED BY — DAVID SPIERS Question 1: Important Note: [Parts (a) to (g), % mark each; parts (h) and (i), 1 mark each; parts (j), (k) and (L), 1.5 marks each) Suppose the following are national accounts data for a given year for a fictitious country: Measure / Variable Amount ‘ (Billions of Dollars) Consumption of fixed capital Depreciation | 320 Gross private fixed capital formation I 785 Government consumption expenditures Part G 585 Government investment...

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    Question 1

    a)Calculating GDP by using the income method: 
    GDP= Income from people in jobs and in self-employment (e.g. wages and salaries) + Profits + Rents (McEachem, 2016).
    = 2651+1687+482
    = $4820 Billion
    b) Calculating GDP by using the expenditure method
    GDP = C + I + G + (X-M) where
    C: Household spending
    I: Capital Investment spending
    G: Government spending
    X: Exports of Goods and Services
    M: Imports of Goods and Services
    = 3115+785+ (585+210) + (690-565)
    = $4820 Billion
     

    This report aimed to develop a critical understating of the various accounting software by evaluating the cloud-based accounting software in regards to businesses and then suggest the most appropriate accounting software to a chosen company such as Woolworth. The findings of the current report reflected that the company has key activities like manage, organize, maintain its store staff, develop various strategies for the business, billing for their products, maintain their transactions, and records them and handle their conflicts, etc. Similarly, its other activities related to revenue and expenditure cycle also includes sales and purchase related practices. Moreover, some internal controls are found weak in Woolworth due to which company has risks like segregation of duties, major frauds, poor corporate governance, improper monitoring of managerial opportunistic behavior.

    This report aimed to develop a critical understating of the various accounting software by evaluating the cloud-based accounting software in regards to businesses and then suggest the most appropriate accounting software to a chosen company such as Woolworth. The findings of the current report reflected that the company has key activities like manage, organize, maintain its store staff, develop various strategies for the business, billing for their products, maintain their transactions, and records them and handle their conflicts, etc. Similarly, its other activities related to revenue and expenditure cycle also includes sales and purchase related practices. Moreover, some internal controls are found weak in Woolworth due to which company has risks like segregation of duties, major frauds, poor corporate governance, improper monitoring of managerial opportunistic behavior.

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