In a currency swap, the parties agree to swap equivalent amounts of currency for a period. This effectively involves the exchange of debt from one currency to another.
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There are basically two ways in which exposure to risk may be reduced. They are:
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A multinational company or enterprise is one which owns or controls production facilities or subsidiaries or service facilities outside the country in which it is based. A company does not become “multinational” simply by virtue of exporting or importing products: ownership and control of facilities abroad is involved.
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International trade extends the principle of the division of labor and specialization to countries. It originated on the basis of nations exchanging their products for others which they could not produce for themselves. International trade arises for a number of reasons which include:
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Any society with a high rate of unemployment carries with it a great risk of instability, armed robbery, prostitution, social disorder, lack of development, no adherence to civic responsibilities, all imaginable crimes and above all, insecurity to life and property. The individuals affected have no work and therefore nothing to earn and their “tomorrow” is dim. The family is thrown into jeopardy; and those employed within the society cannot even enjoy their earnings and run their lives to their tastes and aspirations.
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It is defined as an unconditional order in writing, addressed by one person to another, signed by the person giving it, requiring the person to whom it is addressed to pay on demand, or at fixed or determinable future, a sum certain in money or to the order of a specified person or to a bearer.
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This allows a person to do what he would not have ordinarily been empowered to do physically or personally, through another person and he would be held liable for all the activities of that person. Agency is a situation where a person appoints another person or group of persons to represent his legal interest (capacity) to a third party. It is where an appointment is made or authority is given by a man known as principal to another person known as the agent to bring in a relationship with a third party.
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Auditing is the most popular and widely subscribed accounting service offered by professional accounting services firms such as Pwc, deloitte, Kpmg, Ernst and young (EY) to mention a few. This is because in most nations (if not all), companies listed on the stock exchange (ie public companies) are required by law to file an audited financial statement with the various regulatory bodies concerned.
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Leicester city achieved what is called “football miracle” early this may in the English premier league. They “outfoxed” big money spenders such as Manchester City, Manchester United and a host of others to to claim their first ever premier league trophy. What a marvelous story indeed. Leicester started this season as underdogs and was infact almost relegated in the previous season. What then lead to their unprecedented success? I would sum this up in the following words: exceptional management (both financial and human capital management), consistency and confidence.
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Assuming the three basic career things I love to do in life are: firstly, to start my career in tax consulting in order to learn the fundamental process of providing tax regulatory service (as tax appears to be one of the most profitable, if not the most profitable aspect of professional accounting service). Secondly, to get a job as a research analyst or portfolio manager in an asset management firm (maybe with an MBA and after 2 years in tax job). Thirdly, and finally, to learn programming, from the basic html to C, C++, Java, Php, etc. The goal is just to do this last one on part time basis and develop applications for myself or my clients using the acquired knowledge.
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