Free Essays on Transaction to Get Inspired & Learn by Example

Financial markets and institutions

Introduction
In economics, there is one assumption which is considered when analysing markets. This is the assumption that the market has perfect information. However, this is not always the case. Most markets do not have perfect information because it is impossible for consumers to have all information regarding transactions. Since perfect information is not possible in real world, economists have other means of studying markets with imperfect information. This study is known as information asymmetry. Information asymmetry arises when one person has less information concerning a transaction. The study of information asymmetry gives rise to “market for lemons” where Continue reading...

As an intern software developer for a retail bank, I am tasked with developing use case to support ATM activities. This paper describes the use cases illustrating a customer of the bank withdrawing money, making an account deposit, making account transfers, and ethical implications associated with them in an ATM system.
A use case is defined as a methodology used in system analysis to describe how users perform their tasks in a website. From a user’s point of view, it outlines how the system behaves as it responds. Each use case is given as a sequence of steps Continue reading...

(Relational Contracting)
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Relational Contracting

Relational contracting has been defined as a form of contracting that is strongly anchored on a specific economic and social context on a currently existing trust relation between the parties concerned and whereby such a relation influence not only the scope but also the content of the contract. The principle of trust in the context of business relationship implies that each party stand to benefit from the relationship. However, trust is not a matter of trial and error but something built over repeated experiences. When viewed in the perspective of economic trust, cost is inversely Continue reading...

Introduction

The rapid technological advancement in communication and information technology and internet boom has caused major changes in the banking industry (Jiuan Tan, 1999). There has been a noticeable shift in users from traditional banking to internet banking. Internet banking has provided the users of banking services safe, secure and an easy way to access their accounts and to conduct transactions without any hassle (Mitchell, 1999). A new phase of retail banking is online banking service. DANIEL(1999), MOLS(1998)and SATHYE (1999) explained online banking as a types of service that does not require the customer to physically visit Continue reading...

Analysis of a Negotiation

Introduction
Negotiation refers to a method used by different parties reach an amicable solution where they decide to do away with the differences they have. In the process of negotiation, all the parties must reach a certain point of compromise where the solution and agreement reached minimize the possibility of conflict in the future. Negotiation is one of the mechanisms used in the resolution of conflict all over the world. Disagreements emerge because the parties involved in a certain situation have different interest that they seek to safeguard. Such interests may include financial benefits, possession of a property, the Continue reading...

1. From a consumer’s and seller’s perspective, list (2) (remaining) transaction costs (besides search) of buying and selling within an unregulated OAM? Be specific, and reference transactions cost ideas used in class.
Policing and enforcement of the costs is defined by the supervision process involved in ensuring that a contract is fulfilled as appropriate. Essentially, the idea is to ensure that both parties involved in a transaction process stick to their commitments. There may be deviations in contract fulfillment, and litigation cost is a tool used in this transaction method to ensure that in an OAM environment, Continue reading...

The enterprise’s transaction rules and regulation have been violated as well as accounting professional ethics by the material misstatement that was evident in the company’s financial books of account. A thorough investigation should be conducted to deal with the pending issue and in order to avoid future misappropriation of the company’s assets. It will enhance keenness as the obedience to all rules, regulations and the laws governing the operation of the organization is concerned. Material misstatement in the financial statement is the inappropriate entry that can seriously affect the company’s income because the set objectives Continue reading...

European Monetary Union can be defined as the coming together of European member states into one organized economic system with the Euro as the national currency of these member states. This process occurred through a three phase process. The first phase included complete freedom for capital transactions, increased cooperation between central banks, free use of the European currency unit, and improvement of economic convergence. The second phase saw the establishment of the European monetary institute, ban on the granting of central bank credit, increased coordination of monetary policies and the strengthening of economic convergence. In addition, there was the Continue reading...

Simplifying the Accounting for Revenue Recognition by FASB 2

I. Background 2
II. Scope of standard 7
III. Next steps and implications for practice 8
IV. Conclusion 10

References: 12

Simplifying the Accounting for Revenue Recognition by FASB
I. Background
The elaboration of a new standard simplifying revenue recognition was one of the highest priorities of the joint IASB-FASB convergence project. The purpose of the project was defined as eliminating a range of differences between International Financial Reporting Standards (IFRS) and United States Generally Accepted Accounting Principles (U.S. GAAP). The project was initiated in 2002 on the basis of the International Accounting Standards Board (IASB) and the Financial Accounting Standards Continue reading...

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Introduction

In the contemporary times, the prevalence of the Internet has resulted in the transformation of the way people interact with each other on an international level. Personal relationships and business associations are no longer restricted by geographical or national boundaries. People have been enabled to connect and find common cause with others even if they reside far away. As far as commerce is concerned, there has been a similar transformation. Businesses are now conducted without any hassle and difficulty. Today, a business can find the appropriate global market for its innovative ideas, unique products and services. Continue reading...