ORGANISATION AND THE ENVIROMENT Essay Example | Topics and Well Written Essays - 750 words

ORGANISATION AND THE ENVIROMENT - Essay Example The brand was successful as for the first time it introduced direct business to consumer transactions. As the first no frills airline, it charges even for meals onboard. Its revenues were reported at $2786 million by the end of 2006. In the year 2007, it posted pretax profits of 48% up to September. A new financial system will be installed by Agresso in 2008 to match its 15% annual growth rate of passengers. Stelios, who began EasyJet in 1995, is the single largest stakeholder in the brand. Many prefer EasyJet for its low costs, easy booking and network of routes to both holiday and business destinations. Its ancillary services of car hire, travel insurance, food and excess baggage, attract many. People are also attracted to offers like the one given on Thameslink trains where customers can avail discounts for traveling between Central London and the Luton airport. The EasyJet fleet operates with 107 Airbus A319-100 and 30 Boeing 737-700. Booking is allowed to be done online through the site easyjet.com. However immediately two weeks before a flight is scheduled, phone booking can also be availed. The organization interacts with the UK government and has a United Kingdom type A operating license that allows its aircrafts to carry passengers, cargo and mail with a seating capacity of twenty or more. The public limited company is listed on the London Stock Exchange. Its top competitors are British Airways Plc and Ryanair Holdings Plc. The industry is the largest in UK that operates on low fares. Meeting the APD and high fuel prices are their major economic challenges. It opposes Air Passenger Duty (APD) tax and suggests a new tax that depends upon distance traveled and the type of flight used. In October, the company agreed to acquire GB airways. The UK office has invited comments to check whether the merger would reduce competition within UK. The airline connects various important destinations in UK which include England, Belfast in

Corporate theory and pratice Essay Example | Topics and Well Written Essays - 2500 words

Corporate theory and pratice - Essay Example ther regulatory bodies therefore acted urgently initiating a raft of new amendments aimed at halting firms from concealing underperforming portfolios through ingenious accounting practices (Brodie, 2008). Consequently the IASB and the FASB issued amendments to IAS 39 Financial Instruments: Recognition and Measurement and IFRS 7 Financial Instruments: Disclosures that permit the reclassification of some financial instruments and require consequential additional disclosures in respect of any reclassification made.   These amendments were issued to address the current market conditions and, due to its urgency, were issued without the normal due process  (IASB & FASB, 2009). The Financial Statement Presentation is one of the seven joint IASB and FASB financial accounting projects set to concluded by the year 2011 in three phases [See Table 1]. The main preposition was the introduction of a cohesive, disaggregated, and liquid and flexible. The FSP Discussion Paper (DP) – Preliminary views on Financial Statement Presentation is founded on three premises which require a presentation of the FSP in such a way that: ‘establish a standard that will guide the organization and presentation of information in the financial statements...the management of an entity communicates financial statement information to users of financial statements, such as present and potential equity investors, lenders, and other creditors...improve the usefulness of the information provided in an entity’s financial statements to help users make decisions in their capacity as capital providers.’ (IASB and FASB, 2009, Pg.1) The board’s primary intention is for firms to present a singular financial statement with the objective of enhancing the financial presentation model that is analogous and uniform hence decipherable to the users. The projected presentation model necessitates a firm to present the financial information in a way that depicts how it operates its business disengaged from data