Dreamstime If your company hopes one day to issue stock or participate in mergers and acquisitions, knowledge of generally accepted accounting principles GAAP is critically important. GAAP is a term that refers to a set of rules, standards and practices used throughout the accounting industry to prepare and standardize financial statements that are issued outside the company. These standards help investors and creditors better compare companies.
History[ edit ] The official founding date of the bank is Aprilthe year when its nucleus Bank in Winterthur was founded. Therefore, UBS is no longer an acronym but is the company's brand. Its logo of three keys, carried over from SBC, stands for the company's values of confidence, security, and discretion.
UBS, through Swiss Bank Corporation, traces its history to when six private banking firms in BaselSwitzerland pooled their resources to form the Bankverein, a consortium that acted as an underwriting syndicate for its member banks. The impact of the stock market crash of and the Great Depression was severe, particularly as the Swiss franc suffered major devaluation in The bank saw its assets fall from a peak of CHF 1.
SBC remained among the Swiss government's leading underwriters of debt in the post-war years. Gallen, Switzerlandoffices of Swiss Bank Corporation c. A UBS-issued gold bar, melted down from "unclaimed assets" deposited in the bank.
The activities of the Union Bank of Switzerland during World War II were not publicly known until decades after the war, when it was demonstrated that UBS likely took active roles in trading stolen gold, securitiesand other assets during World War II. UBS opened branches and acquired a series of banks in Switzerland in the following years, growing from 31 offices in to 81 offices by the early s.
During the mids, Union Bank of Switzerland came under fire from dissident shareholders critical of its conservative management and lower return on equity.
At the time of the merger, Union Bank of Switzerland and Swiss Bank Corporation were the second and third largest banks in Switzerland, respectively.AbstractRecently, there has been observed an increasing awareness within business communities on the significance of going green and adopting various environment management techniques.
As the corporate world is going global, the business is experiencing a shift from a conventional financial structure to a modern capacity-based economy which is ready to explore green economic facets of business.
Apprenticeships - Accounting, Audit & Finance.
Going to university and pursuing a degree is not the only option available to bright students. With the significant cost of a degree combined with its potential devaluation, you may want at least to consider your options.
The last time Nestlé changed accounting policies was in , again on revenue recognition. This does not erase all revenue recognition anomalies in the world of food and drink.
Brewers typically report revenues net of . Farmers received support, advice and training to better manage their own credit systems, improve their accounting practices and ensure effective business decision-making.
Due to its success, the project was extended for a further 12 months in , and included five coffee-growing associations with over .
Training is defined by Wayne Cascio as “training consists of planed programs undertaken to improve employee knowledge, skills, attitude, and social behavior so that the performance of the organization improves considerably.”.
Learn more about accounting best practices for property management companies including guidelines for trust accounts and keeping good records.