The auditorship makes this through specific procedures that it are peculiar, applied in the examination of registers and documents, in the inspections and the attainment of information and confirmations related with the control of the patrimony of an entity. Finally, the Theory of the Real Options is used for the evaluation of real property assets, that is, those that are not negotiated in the market. Publishers Clearing House may not feel the same. A real option implies in the flexibility that a manager has to take decisions regarding real property assets. A time that the news information go appearing and the uncertainties regarding the box flow go if disclosing, the administrators can take decisions that come to influence positively in the final value of a project. The Theory of the Real Options and the Analysis of the Viability allow that the benefits of present managemental flexibility in these projects are enclosed in the analysis of the information, being able to be parked or to be modified in accordance with the adequate incorporation of the analysis of the risks.
This boarding is a way to assist the administrators to formulate its options strategical, the viabilities and the future chances that are created by the investments of hoje.GOVERNANA, INTERNAL CONTROL AND MANAGEMENT DE RISCOSDe agreement with the observed one previously, the governana is tied with the support of the businesses; to the correct analysis of performance; to the preservation of the reputation; to the reduction of the risks; to the projection of the investments and the opening of new markets. These are basic principles of the transparency, the equity, the economy, among others, capable to reflect the good results gotten with the practical ones of corporative governana and a system of efficient control. With the crises lived in the Brazilian stock market, especially in the national financial system in the decade of 1990 and the North American stock market in the years of 2001 and 2002, one noticed that something needed to be made in relation to the system of fiscalization of the financial reports in a general way and in relation to the auditorships of particular form. .
In the traditional systems, this type of concern does not exist, being the cost of the product locked up at the moment of its ticket to the supply of finished products. The emphasis is in the determination of the cost of the activities of production and support (processes). The cost of the product is a secondary objective. The hand of direct workmanship is debited to the activity (process) and not to the product. This boarding eliminates the necessity to appropriate the hand of workmanship to the product.
Group of costs is synonymous of activity. The practical one to use only or an limited number of groups of cost is eliminated. The consumption of the activity is based on the amount of measures (units) of the activity consumed by the product. The measure of the activity represents the exit (production) of the activity. The identification or direct tracking of the activities to the products reduces the value of the indirect expenditures of manufacture to be distributed to the products. The direct tracking of the activities to the products does not distinguish the costs right-handers from the indirect ones. The cost is attributed directly whenever it can be established a relation of cause and effect between the activity and the product. The costs you tracked of marketing, sales, engineering and other costs of support also are debited directly to the products.
Thus we focus the total cost of the company and not only the production cost. The cost of the product includes the cost total of development, manufacture and distribution of a product. Many costs incurred during cycle of life of the product, that traditionally is considered expenditures, now will be tracked to the distributed products and throughout its existence. The cost of the life cycle propitiates to the administration a vision of the profitability in long stated period, it allows to better combine the strategies of prices at the cost of the products in the different periods of training of the life cycle and becomes possible the quantification of the impact in the cost of the alternatives of project of the product and the process. The impact of the variations of volume of the activities in the cost of the product, also can be quantified. Not financial measures of performance are incorporated, for global evaluation of the performance of the product. The two main benefits of the ABC cost are: 1-Acuracidade of the cost of the product 2-Visibility of the chances of reduction of costs and improvements of performance. We can infer that the ABC system can be adopted in the administrative and commercial areas of the company in the same way that is used in the production area, initiating for the analysis of the structure of the expenses of these areas with the determination of the factors that had given to origin the demand in accordance with the played functions. The system of ABC Cost tries to cure an existing chronic problem in the traditional systems, that divide are it of the indirect costs of the manufacture, based on criterion, arbitrarily selected. The ABC system diminishes allocations of on the basis of rateios costs, therefore through research in processes it looks for to locate the origins of the costs, thus being able places them with more exactness to the produced goods and services.
The study of the RiskOffice it confirms the concentration of wallets. Some arrive to have ON and PN. She is necessary still to see if it has appositive limit for, therefore how much lesser this limit, minor the risk of losses. Exactly deep that they follow the similar strategies are not equal, alert Augustus Lange Vieira, responsible for the area of changeable income of the NEO Investments. ‘ ‘ Some buy the same amount of papers that vendem, others are a little more bought or more vendidos and this if it reflects in resultados’ ‘ it remembers that it has some types of long/shorts, since that more are alavancados until that market trends leave part of the wallet following.
According to Vieira, long/shorts has the advantage to count on more options of operations in the action market to find chances, what it does not happen in the fixed income and the exchange. But it remembers that he has risks. ' ' The managers make appositive relative, can make a mistake or make right and lose exactly that the market is in alta' ' , he says. The future index of the So Paulo stock exchange allows many strategies for long/shorts, explains Vieira. The deep one can buy more papers of a sector of the index that it finds that he goes to go up more and less of whom can fall or be steady. At the same time, vende the future index. Vieira says that, in Brazil, exactly deep the most aggressive ones do not arrive so to be alavancados.
This would reduce the possibility of the wallet to break, as rumors in U.S.A. this week. ' ' There it are, to surpass the interests, of 4% to the year, the deep if handspike two or three times, much more of what Credit Suisse, Striker Fame, Plural Factor, Fides, Total Pactual, North Pole and Ttica. ‘ ‘ The idea is to give to a vehicle investing it to buy of a time five or six gestores’ ‘ , it says Marcelo Xand Baptista, partner of the Verax. With this mixture, it is possible to join a deep one with volatilenesses that go of 2% to the day 0.80%, obtaining at the same time to reduce the risk and to get greater yield, explains. Xand admits that the deep one started in one bad month for long/shorts, with many wallets registering losses. ‘ ‘ April was good to test the operational part of the deep one, also of liquidez’ ‘ of 14 the 45 days. Therefore, the deep one of the Verax goes to increase the rescue lack, that today is of 14 for 30 days. In this month the deep one accumulates 164% of the CDI, but in the year, 33%.Xand recognizes that long/shorts would not have to follow the market, but says that some had lost with the arbitration enter the purchase of a wallet of papers and the sales of the future index. ' ' In April, with the strong exit of foreigners, some of these deep ones they had lost with the fall accented of determined papis' '. The wallet of the Verax counts on R$ 800 a thousand of patrimony and the minimum application is of R$ 25 a thousand. The administration tax is of 0,95% to ano.*Um of the partners of the RiskOffice, Marcelo Rabbat is also managing of the PR& , The Consultoria de Investimento specialized at risk of Credit and Risk of Market
The game responds well to commands that one gives, being fluid, comfortable and easy to develop ideas that we have to face the opponent. The controls are simple to use but has been modified some dribbling incorporating the arrows of direction (or left lever), which looks like a positive because they are more accessible, but it also has a negative aspect that often becomes present when we try to make an abrupt change of direction and is interpreted as the command for an unplanned Dodge that can make us lose the ball. While the controls are fluid and respond well, is complicated at the time to defend, since mark, shrink space and correctly position the Defender to cut rival advance is complicated, but it can be achieved with patience and practice. Another defect that the Defense presents are the outputs of the Archer, since this is not customary to take off three clubs to pick up a Centre (unless the ball go to your location), which can be seen when the attackers are located in a corner kick at the edge or within the goal box and when you run the remove, the only ones capable of clearing the area are defenders since the Archer does not leave his position, this way are converted goals that would have easily been avoided. A negative characteristic that cannot be overlooked is the great lack of licenses, many teams do not have their original names or nor his t-shirts, just as it happens with the glasses, hope that someday we can enjoy of a PES fully licensed. While these details can be subtracted to the experience of the game, it should be noted that the quality of simulation that presents the title will do that we can play in every game and again finding enough satisfaction to keep boredom and weariness to the margin.
In 1955 manufacturing the manufacturing and half corporations of U.S.A. constituam 76% of the exportations totais’ ‘. (Nali de Jesus, 1997). U.S.A. had started to be in 1919, exporting one eliminates of the capital, destining great part of its investments is of the exterior. The exportations of the explorations had been necessary to finance the development at the same time where it unchained greater internal economic growth. One knows that the industrial revolution provoked a great increase in the production, however the internal demand was insufficient to absorb it. The opening of new external markets, became ‘ in such a way; ‘ the great estimulador of the development econmico’ ‘ (Nali de Jesus, 1997).
The United States had grown in function of the dynamism of the sector of the external market. Which extended the scale of industries and provided to the transference of the dynamisms of new growth and tecnologiasao sector of the domestic market, to the measure that the national income was become enlarged. CONCLUSION This article searched descreveros ways covered for the United States of America, in order to reach the economic development. For this it was divided in that country. Its experience history presents the development as a process of social change, where if it becomes necessary the realocao of the productive resources in way, more efficient. The Industrial Revolution of the magnifying of technological innovations in the production in such a way takes the expansion in the domestic markets how much of the external markets North American.
The commercial expansion provoked rise in the competitiveness of the products with better comparative advantages. Other sources of growth of U.S.A. had been the flow of specialized workers, with enterprise capacity, capitals and new technologies that if dislocated from Europe for the United States. In section 1 it was argued the main events that had preceded the American Industrial Revolution. In section 2 a parallel between industrial revolution and agricultural American and in section 3, the importance of the exporting base in American development was traced. In such a way, it was possible to conclude that, developing in integrated way all the production sectors, the United States had been able to coexist the great ones harness Europeans in the advanced stage of the capitalist development.
(Latest data: 3.1% for the euro area and 4.4% for Spain.) Trichet has hinted it might even raise interest rates if inflation does not drop. Spain will be in a recession. They say no, it is very difficult for a growing economy, the overnight decline. But they also say the U.S. GDP growth was 4.9% in the third quarter of 2007 and fell to 0.6% in the fourth. So we are not in the best time.
BUT Wal Mart, which is like the English Court but way, has sold in the last quarter of its fiscal year 2007, 9.5% more than in 2006. It has gained 4% more. This is not the only good news that appears in newspapers. What happens is that you set. And each day are enough. For example: On February 28, Cesar Alierta, President of Telefonica, made a profit of EUR 8.906 million, becoming the operator with the most wins in the world, ahead of ATT (8733), France Telecom (6300), Verizon (4038) and Deutsche Telekom (3165). He announced that distribute a dividend of 1 euro per share, ycomo are many people who have shares in Telefonica, each will have multiplied the number of shares for 1 euro, deductions will be deducted and must have thought: “Man, not bad . Spanish Elections: Apart from the politicians who throw candies for people to pick them up, it is seen that the situation is serious enough to make nonsense.
Yesterday I heard that politicians should be required to think long, to which a person of great economic and political experience, he replied: “Politicians are paid to think short.” That same person (Alfredo Pastor), in a February 24 article, said: “As should be … in a society ricacomo ours, what distinguishes a political program of another is not so much the economic proposal as the concept of society. That should focus the debate that will decide the election result. “.
These deep ones use the futures markets, of options and the rent of action to buy the papers that find that they go to go up or to fall less and to vender the ones that must fall or go up less. Therefore, the term ' ' long' ' , to buy in English, and ' ' short' ' , of vender. The deep one is common to rent of another investor an action that finds that it goes to fall and to vender it knot Claritas, Credit Suisse, Sniper Fame, Factor compared the performance of 12 deep of 10 managers (Plural Alpha and Balanceado), Fides, Trust (Hedge and Value), IP, Polar region, Ttica and Unifund with the Ibovespa during 256 working days. According to Lovisotto,> Claritas obtains to have profits same with the Ibovespa falling, as well as the deep ones of the Fame. Already the Plural Factor has more direct correlation and folloies the index more than close. Deep other of the Factor, the balanced one, obtains optimum behavior: it earns in such a way when the index goes up how much it goes down. ' ' But, in the generality, all they go bem' ' , Lovisotto says, remembering that the objective is exactly not to follow the stock market.
According to Lovisotto, the study it showed that the yield of the application in long/shorts compensates the risk biggest. The research took in account the wallet return formed exclusively for CDI and the medium one of the deep category of multimarket, in different ratios. ' ' The necessary investor to analyze how much it is made use perder' ' , he affirms. ' ' If the option is to place 5% in long/shorts and the remaining portion in CDI, the necessary applicator to be prepared to lose up to 1,08% on a profit of 17,26% to the year, what it would mean the worse return, of 16,18% to ano' ' , it says.