Company Car Profile

Article Abstract:

In 1983, company cars are more often offered on the basis of seniority than the need for mobility. When offered, Fords are the most preferred according to surveys performed by 'Company's Secretary's Review' in the United Kingdom. Larger fleets are more generous to all levels of employees than smaller fleets which provide for directors first. Of sales staff, sixty-three per cent were driving Fords. Ford is still at the top for senior management, but there is more variety. The widest choice range is for directors, usually a limited choice in a given price range. But for forty per cent of directors, there is free choice in the price range. Leasing is an option chosen for at least some of the cars in forty-two per cent of the companies. A 'closed-end' lease is preferred. Private use is generally allowed. Fifty-five per cent did not even require employees to pay for gas and oil for private miles. Mileage was the major determinant for turnover of cars.

United Kingdom, Employee benefits

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In the U.S. - Extinguishment of Debt and Competition

Article Abstract:

The Financial Accounting Standard Board (FASB) now allows a company to remove from its balance sheet a debt when investments have been put into trust for the purpose of settling the liability. The investment must be essentially risk-free monetary assets. The controversy about the proposal arises because the cost of acquiring government obligations to cover a debt is less than the amount of the face value of the debt, and a paper profit is shown. United States accountants are no longer protected against competition. The Justice Department is strongly in favor of competition, and says that states which legally ban direct solicitation are encouraging higher fees.

United States, Competition (Economics), Accounting and auditing, Financial Accounting Standards Board

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International Auditing Profile

Article Abstract:

"Who Audits the World" is a research project commissioned by five large accounting firms conducted by the University of Connecticut Business School. The project studied firms who work with multinational corporations. The fee is of special interest here. It varied according to status of the firm, country, and industry. In general, the fees are fixed in relation to the size of the client in terms of assets and sales.

Auditing

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