Impact Of Globalization On The Global Economy - 1803 Words

Globalisation is the process of the globe interconnecting through integration of communication, trade, investments and production in the global market. The development of Technology through the industrial revolution, is one the most significant factors behind globalisation. Globalisations removes the limits to business, the trade of goods and services worldwide. This allows business cooperation’s to expand in foreign markets. Global trade is a powerful force that has been made possible through the process of globalisation, and has opened up the gates to the global economy. There are many advantages and disadvantages to the ‘good’ force of globalisation. It has developed the economy to a global scale and given nations the opportunity to†¦show more content†¦This is incredibly bad for the environment and some natural resources are diminishing to the point of extinction. To add to this International laws are not enforced so cooperation’s can get away with polluting the environment in less developed countries, which they would not be able to do in more developed countries. As a result cooperation’s get away with allowing bad working conditions, health risks and low wages for workers in LEDC’s, therefore polices such as the human rights act that are meant to protect the workers are ignored. This is because countries such as China, India and Brazil have a lack of employment law meaning labour costs are much lower. To add to this there is also a lower standard of living in LEDC’s compared to MEDC’s; in India people live on less than 1p a day. Plus the atrocious use of child labour for example in coca plantations in Ghana. Labour Industries in manufacturing and clothing, therefore benefit from the cheap labour costs in less developed countries because of their weak rules. But this is what drives the free market global economy; the exploitation and lack of laws in developing countries. The force of globalisation has created an amoral and powerful global economy that exploits the world’s natural resources ‘The industrial destruction of nature’ (Baylis, Smith, Owens 2014: 345). This later established non-governmental organisationsShow MoreRelatedImpact Of Globalization On The Global Economy1355 Words   |  6 PagesGlobalization is interpreted in a variety of different ways. One way is that it introduces opportunities which further develops regions to progress and prosper in the global economy. In many cases globalization means the shift toward a more integrated and interdependent world economy. The world is moving away from self-contained national economies and toward an interdepende nt, integrated global economy. There is an insurmountable amount of ways to impact globalization but some include trade, peopleRead MoreImpact Of Globalization On The Global Economy1452 Words   |  6 PagesMany goods and services have increased, because of worldwide trading throughout the past years. Australia is linked into the global economy due to exchanges being made between nations and technology being better than ever, as it is quicker, faster and easier to communicate with potential customers. These are just some of the reasons why Australia is linked in to the global economy. Globalisation over the past 30 years Globalisation has changed over the past 30 years due to changes made between technologyRead MoreGlobalization And Its Impact On The Global Economy1107 Words   |  5 Pagesglobalisation indicates that the world development may be more sustainable. †¢ Political relations and the global environmental have become successfully intertwined, an increase in the global economic incorporation (Martens and Raza, 2016). Globalisation has resulted in: †¢ increased international trade †¢ a company operating in more than one country †¢ greater dependence on the global economy †¢ freer movement of capital, goods, and services †¢ recognition of companies such as McDonalds and StarbucksRead MoreImpact Of Globalization On The Global Economy2029 Words   |  9 PagesOver the last number of years, it could be said that the growth in the global economy has increased a vast amount and is rapidly continuing in this direction. The world as we know it is now becoming progressively more connected through a process called Globalisation. Grossman and Helpman (1993) say that there are two main trends too which are key contributors that help make up this process of globalisation. The first of these being the advancement in technology innovations and secondly followingRead MoreThe Impact Of Globalization On Organizations At The Global Economy1351 Words   |  6 PagesIntroduction The impact of globalization has largely affected the way organizations operate in the global economy over the past years. We moved form an era of local competition to an era of global competition, meaning that companies need to constantly innovate and find new ways to sustain competitive advantage. Internal and external forces in the environment have driven HRM from a maintenance and record-keeping function to a source of sustained competitive advantage for organizations competingRead MoreGlobalization : A World Wide Movement Essay1267 Words   |  6 PagesGlobalization is a phenomenon, a world wide movement where nations and communities come together and form a network. Throughout the course we explored the integration and interdependence of various nations, which ultimately shapes world affairs on a global level.Evidently, growth of the developing countries is the main cause of globalization and it brings both opportunities and disadvantages to them. There are numerous ways in which globalization has impacted the world today.The course also createdRead MoreAdvantages and Disadvantages of Global Integration1476 Words   |  6 PagesGLOBAL INTEGRATION: ADVANTAGES AND DISADVANTAGES Globalization is the process by which different societies, cultures, and regional economies integrate through a worldwide network of political ideas through transportation, communication, and trade. Generally, globalization has affected many nations in various ways; economically, politically, and socially. It is a term that refers to the fast integration and interdependence of various nations, which shapes the world affairs on a global level. GlobalizationRead MoreAdvantages and Disadvantages of Globalization on South Africa767 Words   |  4 PagesGlobalization is the shrinking of the world and the increased consciousness of the world as a whole. It is a term used to describe the changes in societies and the world economy that is a result of dramatically increased cross-border trade, investment, and cultural exchange. Globalization has been dominated by the nation-state, national economies, and national cultural identities. The new form of globalization is an interconnected world a nd global mass culture, often referred to as a global villageRead MoreGlobalization and Its Impact on International Business Essay1558 Words   |  7 Pages............3 What is Globalization....................................................4 The engines for Globalizations†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..†¦Ã¢â‚¬ ¦5 Globalization’s impacts on international business†¦..7 The road ahead for international business†¦Ã¢â‚¬ ¦..†¦Ã¢â‚¬ ¦9 Summary†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..11 Reference†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦12 Introduction Every day we hear it on the news, read it in the papers, overhear people talking about it†¦ and in every single instance the word globalization seems to have a differentRead MoreGlobalization And Globalization1050 Words   |  5 PagesPAPER Topic Choice 18: â€Å"On balance, globalization expands rather than contracts opportunities for economic prosperity around the world.† Why do you agree or disagree with this statement? Please support your answer with appropriate examples. Globalization has impacted almost every part of the modern world; it can be characterized by economic, political, and cultural integration. Economic globalization refers to the increasing interdependence of world economies as a result of the growing scale of

Neoclassicism Vs. Modernism Essay - 1174 Words

Igor Stravinsky makes for a first-class example of differences and similarities between neoclassicism and modernism. Modernism is defined as â€Å"A term used in music to denote a multi-faceted but distinct and continuous tradition within 20th-century composition†1, while neoclassicism may be defined as â€Å"A movement of style in the works of certain 20th-century composers, who, particularly during the period between the two world wars, revived the balanced forms and clearly perceptible thematic processes of earlier styles to replace what were, to them, the increasingly exaggerated gestures and formlessness of late Romanticism†2 By not only comparing his works to others but within his own body of work the two movements can be better†¦show more content†¦In addition to asymmetrical rhythms the use of polytonality is vibrant throughout the piece especially in the introduction which begins with different clarinets playing polytonal. Stravinsky structured The Ri te very differently, melody was not the only dominant feature of the piece, other features such as the fore mentioned polytonality and asymmetrical rhythms were also at the dominant features of the piece. By breaking from many common practices of his own and of the time, Stravinsky created a piece slated in modernisms history. While The Rite was a piece of modernist material, Stravinsky later moved on to neoclassicism, Pulcinella greatly represents a small portion of Stravinskys neoclassical repertoire. Like Stravinsky his contemporary in another art form was Pablo Picasso, interestingly enough he played a huge part in the design of the visuals in Pulcinella. Both emphasize or accentuate certain features within their works. Where Stravinsky may accentuate his neoclassical works with features from his predecessors, Picasso accentuates his art with his perceptions, such as his Stravinsky portrait that casts Stravinsky with a very large body, a small head but a rather large nose. Both emphasized certain themes within their works of art. Pulcinella, is also often compared to Schoenberg’s Pierrot lunaire, an earlier piece set to seven poems and performed in sprechstimme. While Pulcinella was a ballet performed in aShow MoreRelatedBrief Survey of American Literature3339 Words   |  14 PagesRevolution(1789—1799) Romantic vs. Neoclassic (1) Neoclassicism: - reason, order, elegant wit - rationalism of enlightenment in 18th-cent. Romanticism: - passion, emotion, natural beauty - imagination, mysticism, liberalism (freedom to express personal feelings) Romantic vs. Neoclassic (2) Innovation: - subjects: common life; the supernatural; the far away and the long ago - style: common language really used by men; poetic symbolism Romantic vs. Neoclassic(3) Good poetryRead MoreEssay about Summary of History of Graphic Design by Meggs14945 Words   |  60 Pagessystem to structure space in his graphic designs. o The first industrial designer. o His work for AEG considered first comprehensive visual identification program. à  Ã¯Æ'   - His AEG designs represent a synthesis of two contradictory concepts: neoclassicism and sachilchkeit. - Made use of three elements: a logo, a typeface, and a constant layout of elements following standardized formats. o Believed that typography provided the most characteristic picture of a period. o Pushed 20th century

Healthcare Difference Between Us and India Free Essays

Health Care in the United States is described as the â€Å"cottage industry† it has been fragmented at the national, state, community and practice levels. There is not one single entity or set of policies guiding the health care system; Furthermore, this fragile primary care system is on the verge of collapse according to the Commonwealth Fund Commission. (A. We will write a custom essay sample on Healthcare Difference Between Us and India or any similar topic only for you Order Now Shih, 2008) The fragmentation of our delivery system is a fundamental contributor to the poor overall performance of the U. S. health care system. In our fragmented system: * patients and families navigate unassisted across different providers and care settings, fostering frustrating and dangerous patient experiences; * poor communication and lack of clear accountability for a patient among multiple providers lead to medical errors, waste, and duplication; * the absence of peer accountability, quality improvement infrastructure, and clinical information systems foster poor overall quality of care; and * high-cost, intensive medical intervention is rewarded over higher-value primary care, including preventive medicine and the management of chronic illness. No single policy will fix the fragmentation of our health care system. Rather, a comprehensive approach is required—one that might lead progressively to greater organization and better performance. The following strategies were recommended: (A. Shih, 2008) * Payment reform. Provider payment reform offers the opportunity to stimulate greater organization as well as higher performance. The predominant fee-for-service payment system fuels the fragmentation of our delivery system. We recommend that payers move away from fee-for-service toward bundled payment systems that reward coordinated, high-value care. In addition, we recommend expanding pay-for-performance programs to reward high-quality, patient-centered care. The more organization in delivery systems, the more feasible these payment reforms become (Exhibit ES-1). These payment reforms also could spur organization, since they reward optimal care over the continuum of services. Specifically, we believe that: Patient incentives. Patients should be given incentives to choose to receive care from high-quality, high-value delivery systems. This requires performance measurement systems that adequately distinguish among delivery systems. * Regulatory changes. The regulatory environment should be modified to facilitate clinical integration among providers. * Accreditation. There should be accreditation programs that focus on the six attributes of an ideal delivery system we have identified. Payers and consumers should be encouraged to base decisions on payment and provider networks on such information, in tandem with performance measurement data. * Provider training. Current training programs for physicians and other health professionals do not adequately prepare providers to practice in an organized delivery system or team-based environment. Provider training programs should be required to teach systems-based skills and competencies, including population health, and be encouraged to include clinical training in organized delivery systems. Government infrastructure support. We recognize that in certain regions or for specific populations, formal organized delivery systems may not develop on their own. In such instances, we propose that the government play a greater role in facilitating or establishing the infrastructure for an organized delivery system, for example through assistance in establishing care coordination networks, care management services, after-hours coverage, health information technology, and performance improvement activities. Health information technology. Health information technology provides critical infrastructure for an organized delivery system. Providers should be required to implement and utilize certified electronic health records that meet functionality, interoperability, and security standards, and to participate in health information exchange across providers and care settings within five years These do not necessarily mean it will fix the health care system as we know it, but could generate, a better understand on what is expected of the United States as a whole, when the Medicare and Medicaid system is done away with, those born in the late 60’s to 2000’s will probably not benefit from the Medicare or Social Security system, when they reach the age of 65, Why you might ask, because the way the economy is going these systems will be obsolete in the future, while the Government is trying to build a better ntity, they will probably in fact, not accomplish this, it is my understanding that they will be doing away with the Medicaid program by the year 2012, this will be a great burden to those who are currently on this, If the Government could make it easier for those who can’t afford insurance to acquire commercial insurance at a lesser cost, then the majority would be get these types of insurances, (ex Cigna, Humana, Aetna, BCBS, United Healthcare) I work in the medical field, I see daily the abuse some of these patients are taking from the Government in regards to their medical care, one month they have the insurance, the next they are on what is called â€Å"Share of Cost†,(SOC) this is just like an HMO or PPO, you have a deductable to reach every month, the only problems is, these patients do not have any money to pay, so they have to go to the local Hospital, to get their SOC covered, the patient see’s is as a convenience while the Hospitals sees it as a nuisance. Our fragmented health care delivery system delivers poor-quality, high-cost care. We cannot achieve a higher-performing health system without reorganization at the practice, community, state, and national levels. This report focuses on the community level, for which we have identified six attributes of an ideal delivery system. Our vision of health care delivery is not out of reach; some delivery systems have achieved these attributes, and they have done so in a variety of ways. We can no longer afford, nor should we tolerate, the outcomes of our fragmented health care system. We need to move away from a cottage industry in which providers have no relationship with, or accountability to, one another. Though we acknowledge that creating a more organized delivery system will be difficult, the recommendations put forth in this report offer a concrete approach to stimulate greater organization for higher performance. (A. Shih, 2008) In India, Primary Health Centers (PHCs) are the cornerstone of rural healthcare; a first port of call for the sick and an effective referral system; in addition to being the main focus of social and economic development of the community. It forms the first level of contact and a link between individuals and the national health system; bringing healthcare delivery as close as possible to where people live and work. (Patel, 2005) Primary healthcare services substantially affects the general health of a population, however many factors undermine the quality and efficiency of primary healthcare services in developing countries. In India, although there are many reasons for poor PHC performance, almost all of them stem from weak stewardship of the sector, which produces a poor incentive framework. The World Health Organization (WHO) specifically points out that to some extent, the deterioration in health status is attributed to inadequacies in PHC implementation, neglecting the wider factors that have been responsible for this deterioration such as lack of political commitment, inadequate allocation of financial resources to PHCs and stagnation of inter-sectoral strategies and community participation. The main ones being bureaucratic approach to healthcare provision, lack of accountability and responsiveness to the general public and incongruence between available funding and commitments. The current PHC structure is extremely rigid, making it unable to respond effectively to local realities and needs. For instance, the number of ANMs per PHC is the same throughout the country despite the fact that some states have twice the fertility level of others. Moreover, political interference in the location of health facilities often results in an irrational distribution of PHCs and sub-centers. Government health departments are focused on implementing government norms, paying salaries, ensuring the minimum facilities are available rather than measuring health system performance or health outcomes. Further, the public health system is managed and overseen by District Health Officers. Although they are qualified doctors, they have barely any training in public health management; strengthening the capacity for public health management at the district and taluk level is crucial to improving public sector performance. Patel, 2005) Primary, secondary, generalist and specialist care, all have important and inclusive roles in the healthcare system and should be used to create a comprehensive and integrated model; one that combines universalism and economic realism with the objective of providing coverage for all. (Patel, 2005)| | The majority of these countries are trying to make it better for all to achieve the best health care entity possible; we are trying to make sure that everyone is covered by insurance. REFERENCES A. Shih, K. Davis, S. Schoenbaum, A. Gauthier, R. Nuzum, and D. McCarthy, Organizing the U. S. Health Care Delivery System for High Performance, The Commonwealth Fund, August 2008 (A. Shih, 2008) Express Healthcare Mgmt. Business Publications Division, Indian Express Newspapers (Bombay) Ltd. , Express Towers, 1st floor, Nariman Point, Mumbai 400 021 (Patel, 2005) How to cite Healthcare Difference Between Us and India, Papers

Financial Accounting and Reporting Assignment †Get Complete Solution

Question: Discuss about the Financial Accounting and Reporting Assignment. Answer: Introduction This study deals with identifying on the Australian-listed company that have gone into liquidation as it failed in meeting the liabilities whey it was due. For this particular assignment, One Tel Phone Company has been selected for study purpose. This is case regarding the collapse of One Tel Phone Company in the year 2001 (Cpaaustralia.com.au 2016). One Tel Phone Company was positioned as forth number as largest telecommunications company in and around Australia. This particular company has more than 2 million customers as well as business operated in more than 8 countries. One Tel Phone Company collapse comes as shocking news to the business world of Australia. One of the major collapses was for the company HIH Insurance for the year 2001 in Australia. It is difficult to find any academic research on One Tel Phone Company Collapse news. It requires using of evidence on One Tel Phone Company from the paper demonstrating the weakness of government practices in relation with internal control system (Cpaaustralia.com.au 2016). It further requires attention on audit superiority, organization announcement with Board as well as organization inspection and decision-making pay-to-performance links in aligning with corporate collapse. Research has been conducted mainly on the developing as well as testing of bankruptcy prediction models. On the contrary, bulk of corporate governance differs largely on attributes like firm performance, executive compensation as well as corporate structure and firm value. This study explains brief history of One Tel Phone Company and its major activities in terms of business models (Weil, Schipper and Francis 2013). Brief History of One Tel Phone Company and its activities that leads to liquidation One Tel Phone Company was launched in the year 1995. It was under the agreement with Optus and it was considered as succeeding main telecommunications in and around Australia. One Tel Phone Company conventional SIM cards as well as client call facts and system services from Optus. One Tel Phone Company aims at paying Optus for the call charge as well as review right to use fee from the major subscribers (Warren, Reeve and Duchac 2013). Therefore, it has been notice that One Tel Phone Company gross profit was in excess with the billed amount from its customers for the amount paid to Optus. One Tel Phone Company intended in attracting the customers by rendering cheap mobile call rates as well as extended space and worldwide call services to the potential customers. One Tel Phone Company grew at faster pace in the early years of operation. On analysis, it has been noticed that customer base increases from 1000 to 100000 within 1 year of time from 1996 to 1997. As far as sales revenue is concerned, One Tel Phone Company has $148 million AUD for the year 1996 to 1997 (Sharma and Panigrahi 2013). It had in commission profit after tax of around $3.7 million AUD. A dispute present is developed between Optus as well as One Tel Phone Company for the year 1996. There are two major issues listed below: Optus was openly competing with One Tel Phone Company especially for subscribers Whether One Tel Phone Company clientele for entitled to Optus reduced priced offers In the year 1997, One Tel Phone Company signed an agreement with Global One. This enabled One Tel Phone Company in providing discounted national as well as international calls to its potential customers in carrying out Global One network. In the same year, One Tel Phone Company was listed in ASX (Australian Stock Exchange) at an issue price of $2 AUD. At the end of 1997, One Tel Phone Company had more than 200000 customers as well as 400 dealers in and across Australia (Samkin and Deegan 2012). In the year 1998, One Tel Phone Company launched Global Strategy in expanding into Europe as well as United States. One Tel Phone Company opened offices in London, Paris as well as Hong Kong and Los Angeles (Richard and David 2016). One Tel Phone Company acquires 2.5 MHz of spectrum especially in Melbourne and Sydney. One Tel Phone Company share price increased with $9.8 AUD for the year 1999. In the year 2001, One Tel Phone Company revealed that it lost more than $ 132 million AUD for running out cash. Cash reserves fell with $35 million AUD and dropped cash balance for the given year taken into consideration (Reimers 2014). One Tel Phone Company share prices continued in sliding downward because of recording last trading day. Creditors of One Tel Phone Company voted for winding up its business operations. Liquidity Ratios of One Tel Phone Company Liquidity is a particular measure of the capability of the debtor to make imbursements for debt at the time when the amounts become due. There are key financial ratios such as the current ratio as well as quick ratio that can analyze the liquidity position of the firm, thereby evaluate the capability of the corporation to repay the short-term requirements of the corporation (Pratt 2013). In the present case, we can analyze the financial position of the One Tel Company from certain significant ratio. Current Ratio The current ratio that indicates towards the ability of the company One Tel is enumerated by dividing the current assets by the current liabilities. Again, the current ratio of One Tel during the year 2000 is enumerated to be (628.1/375.2=1.67). The current ratio during the year 1999 was recorded to be (296.2/84.9=3.48). The fall in the current ratio indicates decrease in the assets of the corporation that is required to meet the definite debt obligations of the corporation (Otley. and Emmanuel 2013). Quick Ratio The quick ratio also helps in analysis of the financial position of the firm by proper evaluation of the quick assets of the firm that is essential to meet the liabilities of the corporation. The quick ratio for One Tel, obtained by dividing the quick assets by the current liabilities is enumerated to be (335.7/ 375.2=0.89) in 2000 that increased to (172.6/84.9=2.03). The decline in the quick ratio replicates the fact that the company has inadequate quick assets to meet the current liabilities (Horngren et al. 2013). Financial Stability Ratios of One Tel Phone Company Net Profit The evaluation of the net profit ratio of One Tel can help in ascertaining the association between the net profit of the company and the net sales. The net profit ratio of One tel enumerated by means of dividing net profit after tax by the sales is recorded to be (291.1)/(230.4)=1.2 during 2000 and (25.2/7=3.6) during 1999. The net profit ratio declined during 2000 that reflects the undesirable financial position of the firm and loss of potential of the firm to convert sales to profit (Horngren et al. 2012). Return on Employed Capital (ROCE) The return on investment of the corporation One Tel can reflect the efficiency of different investments of the firm that can lead to greater value of the shareholders. The return on employed capital enumerated by dividing the operating profit by the capital employment is registered to be (259.9)/1060.3=0.24 during 2000 and (9.9/441.1=0.02) in 1999. The return on capital employed decreased from 0.24 to 0.02 that reflects reduction of the financial condition (Hoggett et al. 2014). Debt to equity Ratio The debt to equity ratio for the corporation One Tel reflects the proportion of the liability of the business to the overall equity of the shareholders. The debt to equity ratio for One Tel is calculated to be 92.2/944.8=0.09 in 2000 and 7.2/363.3=0.01. The increase in the debt to equity ratio reflects undesirable condition as the debt has decreased relatively in comparison to the equity. The increase in the proportion of the debt replicates unfavorable condition for the One Tel as it indicates the increase in the debt obligations of the firm (Henderson et al. 2015). The increase in the debt also reveals the risk that the company faces due to the increase in debt of the firm. Summary of the findings The analysis of the financial statements of the One Tel reveals the fact that there is decrease in the current ratio of the firm during the period 2000 as compared to the year ago period. Therefore, the decline in the current ratio reflects the unfavorable liquidity position of the firm (Gassen 2014). However, the decline in the quick ratio also reflects the fact that the company has inadequate quick assets to meet the current liabilities. Again, the net profit ratio also declined during 2000 that reveals the detrimental financial position of the firm and loss of capability of the firm to convert sales to profit. The decrease in the net profit ratio in turn also replicates the fact that the profitability position of the company has also declined. The business operations of the corporation One Tel lacks the efficiency to acquire profit out of the total sales generated by the firm. In addition to this, the return on employed capital of One Tel also declined revealing the fact that the company is ineffectively utilizing the capital of the corporation for the purpose of long-term financial policies. On the other hand, the debt to equity ratio of the firm has increased disclosing the fact that the debt obligations has increased during the mentioned period (Edwards 2013). Therefore, the decreased current ratio and the quick ratio reveal dismal financial condition of the firm. Again, the decrease in the net profit ratio, return on employed capital indicates the unstable financial condition of the corporation. In addition to this, the opinion regarding dismal financial health of the One Tel Corporation can be substantiated by the bad results of the debt equity ratio where the debt fraction of the firm in the overall funds for operation has considerably increased (Deegan 2013). Indication of financial distress in the management discussion from the annual report of One Tel Phone Company From the annual report of One Tel Phone Company, it has been noticed that management discussion and analysis emphasize upon earnings before interest, taxes as well as depreciation and amortization as report below GAAP (Deegan 2012). It requires focus on EBIDTA on creating illusion on notice expenses, amortization as well as depreciation and accounting expenses. From the annual report (1998), it contains graphs comparing it with EBITDA arrives at $3.9 million AUD. EBITDA is used by the companies reporting lower than its predictable earnings. Start-up companies operate at a failure under the Non-GAAP performances metrics. On critical analysis, it has been noticed that audit quality for One Tel Phone Company was low. Deegan and Ward (2013) suggest that audit quality in the paper defined upon two dimensions. These involve: Auditor propensity relates with issues considers as going-concern opinion Level of abnormal accruals in responsive with earnings act as an indication of earnings management Non-compliance with accounting as well as auditing standards for issue of unqualified audit opinion in response with low-quality audit One Tel Phone Company was audit with the similar audit firm for issue of unqualified audit opinions for the given years. On the contrary, submission of financial statements for the year 1998 to 1999 in ASIC in deferred $ 48 million AUD (Christensen, Baker and Cottrell 2014). One Tel Phone Company financial report identifies main 48 items for concern. One Tel Phone Company had worsening operating cash deficits with more than $4800 million AUD from the year 1998 to 1999 (Cpaaustralia.com.au 2016). One Tel Phone Company faces issues with customer billing as well as cash collection problems. Further evidence noticed for One Tel Phone Company in case of employing large positive accruals as well as non-conservative accounting policies for minimizing losses. Therefore, BDNP never joined hands in issuing going-concern opinion. It requires further evidence regarding One Tel Phone Company in purchase of non-audit services especially from the external auditors. Non-audit fees consist as a propo rtion of total fees paid to the auditor arriving at 41% for the year 1996 to 1997. It mainly engages in NAS with potential client for useful insights for evaluation purpose for internal control of client for audit planning process. Audit planning of One Tel Phone Company requires further improvement in relation with NAS (Bevis 2013). On critical analysis, evidence suggests One Tel Phone Company reported earnings involve basic income procedure (Cpaaustralia.com.au 2016). Financial treatment quality involves low earning excellence. Audit quality of One Tel Phone Company considers as low in respect with financial reporting quality. Low monetary coverage excellence as well as low review quality conceals with One Tel Phone Company in terms of real financial performance. One Tel Phone Company faces financial distress from the Board as well as shareholders. It mainly turns into blocking opportunity remedial measures actions for avoiding corporate collapse (Beatty and Liao 2014). Usefulness of annual report for identifying potential sources of concern regarding corporate survival From the annual report of One Tel Phone Company, it has been noticed that non-executive directors qualifies as independent auditors under the Australian Stock Exchange (Cpaaustralia.com.au 2016). Evidence provides that lack of diversity of opinions briefs regarding the board meetings as well as remained instrumental for One Tel Phone Company. One Tel Phone Company involved in various dispute with the supplier named as Optus and Telstra. This company paid for the acquisition of telecommunication licenses for positioning itself in the global marketplace. One Tel Phone Company management lacks diversity of opinions from the Board. Management failed in making full disclosures to the Board regarding viewing at the performance as well as solvency of the firm (Bazley et al. 2013). One Tel Phone Company troubles with the essential cash balances, earnings as well as creditors and debtors (Samkin and Deegan 2012). This is in case of running connections to the Board for being highlighted only in EBITDA as well as gross margin rather net profit. Board was precise in giving gaining creditors as well as aging debtor troubles. Reported cash balances presented in the omitted unpresented cheques. Firms had dominant CEO that worsens with the turbulent environment. There was poor monitoring of the management by the Board for survival in gaining blocking opportunities in case of leadership renewal. CEO dominance as well as major shareholders for gaining information for highlighting true picture of business firm One Tel Phone Company collapse leaves several lessons gathered from corporate strategies. It failed in acquisition of customers on large-scale for contributing over firm profitability. Secondly, there was high competitive pricing in gaining market share for possessing disastrous consequences. Thirdly, it is not enough in generating sales revenues in cash collection on timely manner. This particular question provides some insights into the association with the corporate collapse as well as corporate governance at the same time (Cpaaustralia.com.au 2016). Weaker Corporate Governance for collapsing for demand of good governance especially for poor firm performance Good corporate governance plays important role for safety net in relation with corporate collapse. Auditor involvement for understanding the non-audit services in response with audit quality. Board chair discuss for the board meetings for controlling over Board agenda for monitoring management behavior for future analysis purpose (Samkin and Deegan 2012). Conclusion From the above study, it is concluded that collapse of One Tel Phone Company was considered as one of the major news for the year 2001. One Tel Phone Company was the fourth largest telecommunication company in and around Australia at the time of collapse for the year 2001. Determination of profits charges by the customers as paid to Optus. This particular company hoped in providing cheap mobile calling rates as well as selling profitable long distance international calls. One Tel Phone Company grows rapidly in terms of customers as well as sales revenue. One Tel Phone Company collapse is one of the classic cases of failed expectations, wrong pricing policies as well as strategic mistakes and unbridled growth. It involves likelihood shows the collapse of One Tel Phone Company in case of corporate trajectory. Addition to that, it has been noticed that corporate collapse takes plans from corporate deteriorations from several errors from Senior Management. One Tel Phone Company made seve ral strategic errors in conducting the business operations in certain way. One Tel Phone Company has wrong pricing policy. Therefore, One Tel Phone Company was stuck with the aggressive as well as costly customer acquisition campaigns on an adverse manner. These potential customers failed in contributing to revenues as well as cash flows operations whereby company needed to survive on the near future. It further undertaken very aggressive strategy for expansion into new markets without any kind of consolidation of position from the existing markets. Reference List Bazley, M., Hancock, P., Fisher, C., Lovell, A., Berk, J., DeMarzo, P., Berk, J. and DeMarzo, P., 2013.Financial Accounting: An Integrated. Thomson Pty Ltd, South Melbourne. Beatty, A. and Liao, S., 2014. Financial accounting in the banking industry: A review of the empirical literature. Journal of Accounting and Economics, 58(2), pp.339-383. Bevis, H.W., 2013.Corporate Financial Accounting in a Competitive Economy (RLE Accounting). Routledge. Christensen, T.E., Baker, R.E. and Cottrell, D.M., 2014. Advanced Financial Accounting. The McGraw-Hill Companies, Inc. Cpaaustralia.com.au. (2016).Tel.All - an insight into the One.Tel collapse. [online] Available at:https://www.cpaaustralia.com.au/professional-resources/education/onetel-collapse-case-study[Accessed11 Sep. 2016]. Deegan, C. and Ward, A.M., 2013. Financial Accounting and Reporting: An International Approach. Deegan, C., 2012. Australian financial accounting. McGraw-Hill Education Australia. Deegan, C., 2013. Financial accounting theory. McGraw-Hill Education Australia. Edwards, J.R., 2013. A History of Financial Accounting (RLE Accounting) (Vol. 29). Routledge. Gassen, J., 2014. Causal inference in empirical archival financial accounting research.Accounting, Organizations and Society,39(7), pp.535-544. Henderson, S., Peirson, G., Herbohn, K. and Howieson, B., 2015. Issues in financial accounting. Pearson Higher Education AU. Hoggett, J., Edwards, L., Medlin, J., Chalmers, K., Hellmann, A., Beattie, C. and Maxfield, J., 2014. Financial accounting. Horngren, C., Harrison, W., Oliver, S., Best, P., Fraser, D. and Tan, R., 2012. Financial Accounting. Pearson Higher Education AU. Horngren, C.T., Sundem, G.L., Schatzberg, J.O. and Burgstahler, D., 2013. Introduction to management accounting. Pearson Higher Ed. Otley, D. and Emmanuel, K.M.C., 2013.Readings in accounting for management control. Springer. Pratt, J., 2013. Financial accounting in an economic context. Wiley Global Education. Reimers, J.L., 2014.Financial Accounting: Business Process Approach. Pearson Higher Ed. Samkin, G. and Deegan, C., 2012. New Zealand financial accounting. McGraw-Hill Education Australia. Sharma, A. and Panigrahi, P.K., 2013. A review of financial accounting fraud detection based on data mining techniques.arXiv preprint arXiv:1309.3944. Warren, C.S., Reeve, J.M. and Duchac, J., 2013.Financial managerial accounting. Cengage Learning. Weil, R.L., Schipper, K. and Francis, J., 2013. Financial accounting: an introduction to concepts, methods and uses. Cengage Learning.