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Emerging Markets and Accounting Management Practices: Western & Southern Financial Group
after watch the speech,write a summary of the speech,including a discussion of at least one way in which the presentation relates to any topics covered in our ACC321(intermediate financial accouting) or accounting in general when applicable
Sample Section of the paper
Emerging Markets and Accounting Management Practices: Western & Southern Financial Group – November 6, 2014
In a speech for the Centre of Annual Business Development executive conference, John Barrett of the Western & Southern Financial Group presented those values he deems have propelled his organization to not only be in the Fortune 500 but to also amass wealth. The key aspects that he presents are loyalty and attitude, teamwork, respect, ethics and focusing on the financial strength and the soundness of the company. In his speech he connects almost every aspect of the organization such as the all the values that need to be transformed to replicate to the positive performance or an improve balance sheet while instilling practices such as a creative and dynamic environment.
Under financial strengths he offer contribution on how Western & Southern Financial Group manages its finances through making investment only if the company has accumulated the resources to allow them to make such a moves. He gives specific instances when the company had to make investments in avenues such as the mutual funds all of which are financial accounting platforms for making future investment. Another aspect under his discussion was the decision to make long-term investment only when it was feasible, while further making consideration on the value they would obtain for their investments. Such investments allow them to not only compete with the giants in the industry but also to further fashion their own path while benchmarking on the practices of the giants in the markets.
Reducing costs has also been an underlying principle since Western & Southern Financial Group tends to have a high turnover level of both employees and their investments portfolios. This avenue create an environment of learning which presents knowledge on the various investment methods such as the annuities to employees allowing them to attain progress of their own in line with that of the company.