JVA Corporation Simulation Assignment Example | Topics and Well Written Essays - 750 words

JVA Corporation Simulation - Assignment Example Additionally, a communications and consultation plan needs to be put in place, so that employees understand the reason for these changes and see them as an alternative to redundancies, which would be a far worse option because they fail to take into account the future of the workers (Rue & Lloyd, 2009). Internal equity is when the job evaluation determines the internal value of the job. The point factor job evaluation is the quantifiable process explaining the reasons for pay differences and classifications. The point factor jobs evaluation determines the internal value of jobs by placing them in a hierarchy of grades based on compensable factors. Compensable factors include experience, education, technical skills, and working conditions (Rue & Lloyd, 2009). This approach is to be retained, with no major changes proposed to core salary levels. This will reassure workers. External equity is the second principle in compensation and it compares the salaries and benefits of the JVA Corporation employees to other workers in the same industry. In order to be competitive, the JVA Corporation must conduct a survey to see if the salaries/additional compensation perks are similar in other agencies. The jobs in other companies dealing in wireless technology devices are benchmarked because they include bonuses, travel rewards, commissions, profit sharing, and duties in a broad range of jobs. External equity can help managers make strategic decisions regarding the company’s compensation programs (Flannery, 2011).

Adoption of International Financial Reporting Standards (IFRS) in Term Paper

Adoption of International Financial Reporting Standards (IFRS) in European Union - Term Paper Example According to the paper findings the adoption of IFRS in European Union constituted one of the biggest financial reporting alterations in current years and was debatable. The adoption of IFRS results in the use of a universal set of financial coverage standards within Europe, and between Europe and many other countries that require or apply IFRS. This essay declares that the impact created by conversion to IFRS was much bigger and broader than expected. The EU experience states that it affects many areas beyond finance and includes human resources, business operations, IT, customers and external stakeholders. Furthermore, it can be learnt from the EU conversion that IFRS switchover will add considerable intricacy to a range of openings which firms currently pursue. These are mergers or acquisitions, expansion of global operations and new enterprise information systems implementation. IFRS renders companies with a major opening to attain broader transformational change and motor business gains beyond compliance. The economic arguments for the adoption of IFRS are that it is being viewed by many as having very good quality and is sufficient for the task. Indeed there is some empirical research evidence which supports the belief that same standards of financial reporting globally will surely increase market liquidity, reduce tra nsaction costs for capitalists, lessen cost of capital and finally facilitate international capital formation and flows.