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Overview SWOT analysis is a necessary tool for business that allows corporations to analyze where their strengths, weaknesses, opportunities and threats lie. The SWOT tool contains paramount information about the industry and helps the executives of the business make decisions that are necessary for the business’s survival and success. PricewaterhouseCoopers is one of the big four accounting firms who’s services include, audit, assurance, consulting, tax services, and risk assurance services. PwC concentrates on 16 key industries and provides precise services that include human resources, deals, forensics, and consulting services. PwC is a firm that is consistently looking to gain an edge for their clients. With its headquarters based in London PwC boasts 776 locations with over 180,000 employees. The empire that is PwC consistently achieves success, recording nearly $31.5 billion in revenues for the fiscal year 2012. 1. “Related Materials.” 2. “PwC: Audit and Assurance, Consulting and Tax Services.” 3. "Facts and Figures." 4. "Global Press Room." History PricewaterhouseCoopers has an extensive history dating back to the 1900’s when two firms, Coopers & Lybrand, united. This combination allowed PwC to become not only a UK brand, but also a USA brand as well. Before the merger, Samuel Lowell Price decided to set up an accounting firm in London, which experienced tremendous success. When Price agreed to go into a partnership with Edwin Waterhouse and William Hopkins Holyland, the revenues and prestige of the firm sky rocketed. In 1998 the firm went on to partner with Coopers & Lybrand and PwC emerged. After the merger, the company began to set up consulting facilities and ERP systems. The company expanded at a rapid rate... ... middle of paper ... ... verbatim and has steady growth year after year. With an excellent staff and the ability to attract top quality employees every year, there is no reason why PwC’s growth should be halted. Bibliography 1. "Related Materials." Free SWOT Analysis Template and Method, Free Swot Analysis Examples. N.p., n.d. Web. 18 Nov. 2013. 2. "PwC: Audit and Assurance, Consulting and Tax Services." PwC. N.p., n.d. Web. 20 Nov. 2013. 3. "Facts and Figures." PwC. N.p., n.d. Web. 20 Nov. 2013. 4. "Global Press Room." PwC. N.p., n.d. Web. 20 Nov. 2013. 5. "History and Milestones." PwC. N.p., n.d. Web. 21 Nov. 2013. 6. "Our Mission and Vision." PwC. N.p., n.d. Web. 21 Nov. 2013. 7. "Business Models – Back to Basics." PwC. N.p., n.d. Web. 21 Nov. 2013. 8. "DealBook." DealBook Pricewaterhouse Takeover of Booz Risks Culture Clash Comments. N.p., n.d. Web. 21 Nov. 2013.
PriceWaterhouseCoopers LLP is a public accounting firm formed through a merger between Coopers & Lybrand LLP and Price Waterhouse LLP, which was consummated on or about July 1, 1998.
Wal-Mart including around 3,400 stores has made some job opportunities but think of all the jobs lost because of p...
Throughout the past several years major corporate scandals have rocked the economy and hurt investor confidence. The largest bankruptcies in history have resulted from greedy executives that “cook the books” to gain the numbers they want. These scandals typically involve complex methods for misusing or misdirecting funds, overstating revenues, understating expenses, overstating the value of assets or underreporting of liabilities, sometimes with the cooperation of officials in other corporations (Medura 1-3). In response to the increasing number of scandals the US government amended the Sarbanes Oxley act of 2002 to mitigate these problems. Sarbanes Oxley has extensive regulations that hold the CEO and top executives responsible for the numbers they report but problems still occur. To ensure proper accounting standards have been used Sarbanes Oxley also requires that public companies be audited by accounting firms (Livingstone). The problem is that the accounting firms are also public companies that also have to look after their bottom line while still remaining objective with the corporations they audit. When an accounting firm is hired the company that hired them has the power in the relationship. When the company has the power they can bully the firm into doing what they tell them to do. The accounting firm then loses its objectivity and independence making their job ineffective and not accomplishing their goal of honest accounting (Gerard). Their have been 379 convictions of fraud to date, and 3 to 6 new cases opening per month. The problem has clearly not been solved (Ulinski).
“Doing the right thing and doing things right” (Devin) spoken by their CEO at a conference on their profits and annual reports, however this does not pertain to their employees or their suppliers even though he states “the Wal-Mart way is to stay the course, because Wal-Mart is too important to individual families that are stretching a budget, to important to the suppliers who employee millions of people, to important our associates who we value and love so much." (Devin). Wal-Mart values its employees and suppliers so much; “since 2011, Wal-Mart has spent over $35 million and hired more than 300 outside lawyers, accountants, and investigators to deal with bribery issues” (Sethi) and Wal-Mart’s “penalties under the Foreign Corrupt Practices Act and Securities Exchange Commission regulatory filings are likely to be in the $100 millions, which is such a small fraction of Wal-Mart’s earnings” (Sethi). If only this mega retailer could reinvest this negative...
Threats to the organization involve the various competitors in the financial services industry as well as key partners in the supply chain. When discussing competitors, an obvious threat will be loss of market share to other institutions. With the negative media, many customers have switched their banking relationships to another financial services provider. Because the products in the financial services industry are generally the same from firm to firm, it is imperative that the service provided sets the organization apart. The threat of a negative image of Wells Fargo & Co. could tarnish the way the public views its service provided. Because of this, it is necessary to switch from a results driven model to that of simply serving the
With every business activity come opportunities for fraudulent behavior which leads to a greater demand for auditors with unscathed ethics. Nowadays, auditors are faced with a multitude of ethical issues, and it is even more problematic when the auditors fail to adhere to the standards of professional conducts as prescribed by the American Institute of Certified Public Accountants (AICPA). The objective of this paper is to analyze the auditors’ compliance with the code of professional conduct in the way it relates to the effectiveness of their audits.
A SWOT analysis is simple exercise that could be implemented on multiple subjects including an individual or a whole corporation. The SWOT analysis is an operational tool for managing change, defining strategic direction and setting realistic goals and objectives according to Simoneaux and Stroud (2011). Discovering new opportunities and manage and eliminate threats that are present in the company and the surrounding market. SWOT is a valuable technique that leads to a better understanding of the strengths, weaknesses, opportunities and treats both internally and externally. The strengths and weakness are to be considered internal factors and opportunities and threats to be e...
"Quarterly Earnings." Bank of America Investor Relations. Bank of America Corporation, n.d. Web. 11 Apr. 2014.
The SWOT analysis: The study of the firm's Strengths, Weaknesses, Opportunities and Threats called SWOT analysis, a key step in flushing out known performance issues that are important to the growth of the organization addressed in the corporation strategic plan. The issues identified in the SWOT analysis help leadership to come up with a plan and strategy to achieve the overall mission of the company (Strategic Planning, n, d). Target Corporation is one of the largest public retailing company in the US having more than 1700 stores serving guests nationwide. Target group and its brand position are evaluated in the market using SWOT analysis.--
What is a SWOT analysis? This concept involves assisting businesses to identify their strengths, weaknesses, opportunities and threats. It is often used to analyze an organization and its environment. Businesses find the analysis useful in assisting them to improve their business, establish goals and objectives.
Best Buy opened it’s doors in 1966 by the name of “Sound of Music”, it wasn’t until 1986 that it proceeded to change it’s name to what it is recognized today. Best Buy is the top retailer in the nation’s (USA) consumer electronic retail industry. What makes Best Buy unique is that they sell electronics and appliances used for home and office, they provide customer service and business support through their Geek Squad Technical Support System, and they offer major tech brands and their products such as Apple and Windows in house. According to The New York Times, the computer and electronics industry consists of companies engaged in the retailing of computers and peripherals, consumer electronics and other technology products. The industry includes household appliances, audio and video equipment, consumer software, digital cameras, cell phones and components and other electronic goods.” Like many top leaders, Best Buy has not been immune to issues in regards to maintaining its status in the market. Some of the issues the company faces include, loss in stock value, loosing the retention of it’s customers, and being out-competed by e-commerce companies in the same industry such as, Amazon. All of this can be classified as a marketing problem Best Buy faces.
PricewaterhouseCoopers (PwC)is the world’s largest accounting firm and ranks as one of the giants in the global professional services arena. PwC employs over 146,000 people with 766 offices in 150 countries. The Firm is led by Samuel A. DiPiazza, CEO, and is headquartered in New York City on Madison Avenue. Its clients include 84 percent of the Fortune Global 500 companies. Price Waterhouse and Coopers & Lybrand merged in 1998, which made the combined firm the top player in public accounting. In the 2007 fiscal year, PwC had gross revenue of over $25 billion. Structured as a limited liability partnership (LLP), the private company would rank in the low 300s on the Fortune 500 companies.
An accountant makes sure that the Nation’s firms are run efficiently, the public records are kept accurately, and that taxes are paid properly and on time (“Accountants and Auditors”). Accounting is the study of how a business tracks their income, assets, expenses, and many other things for a period of time. They also do many other things like quality management, tax strategy, and health care benefits management (“Welcome to Careers in Accounting”). An accountant is crucial to the success of a business, without one the business tends to fail.
...re chances of growth and development for the company which is clearly understood through the research done on the Ansoff’s matrix. P&G is much ahead of its competitors and has also won many honors in terms of offering quality and innovative products. The company’s products are also sold by wide variety of retailers around the world and also through many e stores that sells the product online. Finally the company has also got more expansion opportunities which is clearly understood through the Yips model of Internationalization. As the company continues to acquire international brands over the years and succeeds in offering quality and innovative based products to the people all over the world it tend to give a much better completion to its competitors and of course get a wider market share making its competitors give a tough time in the industry.
Are Auditors Becoming Too Cozy With Their Clients? By: Briloff, Abraham J.. Business & Society Review (00453609), Summer85, Issue 54