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Essay / Research Paper Abstract
This 4 page paper answers three questions set by the student. The first compares the working capital of Bank of America and Citigroup, the second part looks at the role of the banks as intermediaries and the role of regulators, the last part of the paper considerers the impact of the Sarbanes-Oxley Act. The bibliography cites 4 sources.
Page Count:
4 pages (~225 words per page)
File: TS14_TEboaciti.rtf
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Unformatted sample text from the term paper:
the ongoing operation. The traditional calculation for this is the current assets less the current liabilities. This shows the net value of the net current assets firm and the amount
of money tied up that cannot be used elsewhere and the level of liquid assets in a firm1 (Elliott and Elliott, 2007). Looking at two firms working in the same
industry it is possible to see how differences occur. Bank of America and Citigroup are both financial services companies and both need working capital.
Working capital for banks needs to be recognized in a different way than many other firm, where cash is held for account holders it may be seen as
a liability rather than an asset, as the bank will be incurring interest chargers, where loans are made they are assets as they are creating revenue, these are ongoing arrangements
so my not necessarily be deemed as current assets or liabilities dependant on the terms. The balance sheets are presented in a different manner compared to non financial corporations. This
means looking at the balance sheet and assessing which are the current assets and liabilities2. Figures are taken from the relevant annual accounts for 2007 (which are the latest available).
When looking at the Bank of America the trading assets are worth $162,0643, trading assets are assets bought for other banks and marketed while held, the securities are likely to
be current assets are valued at $225,829. There is also a section for others, which may or may not include current assets. The current liabilities include short term debt, which
amount to $191,089, again there is a section for others, which may include short term liabilities, which gives a working capital level of $196,804. The Citigroup working capital working capital
...