The economy of Iceland suffered greatly due to the 2008 financial crisis. The financial sector of Iceland, once an industry pillar accounting for 8% of the total GDP, literally vanished and plunged the country into its biggest recession since 1900. Straddled with huge foreign debt with little access to foreign credit, Iceland’s future looked bleak in the immediate aftermath of the 2008 meltdown. Nevertheless, the people and policy makers of Iceland were set on a quick recovery. We provide an overview of the political, economic, and cultural environments of Iceland and track Iceland’s progression from traditional factors of production (i.e., land, labor, and capital) to a knowledge and innovation based economy. Our analysis of Iceland includes a review of financial markets and how the country has responded to pull itself out of the recession. The Global Competiveness Index ranks Iceland at the highest tier (i.e., Stage 3) along with measures such as business sophistication and innovation.

This study is an amalgamation and synthesis of the methodology and outline followed by past researchers including Warner-Søderholm, Bertsch, Saeed, Abdullah (2014); Saeed, M., Bertsch, A., Ondracek, J., Bates, S., Abdullah, ABM (2014); Bertsch, A., Saeed, M., Ondracek, J., Abdullah, ABM (2013); Ondracek, J. , Bertsch, A., Saeed, M., Taft, C. (2012); Bertsch, A., Ondracek, J., Saeed, M., and Abdullah, ABM (2012); Bertsch, A., Ondracek, J., Saeed, M., and Abdullah, ABM (2012). This methodology and outline highlights salient issues for doing business in a specific country. Following an outline allows readers to compare and contrast the economic and business environments of various countries.

World has become global Village, People interact with each other from different regions during different period of time. Quality of work life is reviewed as that umbrella under which employees feel fully satisfied with the working environment and extend their wholehearted cooperation to the Organization. This paper is aimed at the theme of work life Balance and to explain the significance of the said subject. QWL is playing a vital role in achieving the goals of the Organization in every sector whether in Service, Banking, Manufacturing, and Tourism Sectors. High QWL can give a result in better Organizational performance, effectiveness, innovations, etc. QWL is a generic phrase that covers the feeling of workers in about every dimensions of work including security, economic rewards, working conditions, Benefits and interpersonal relationship. This paper mainly focuses on Private Sector banks and their working environment. It is a successful key of any organization to improve the employees work life quality in the banking sector.

Haryana Tourism Corporation is a Haryana Government undertaking, having hotels, resorts and restaurants throughout the state and its Head Office is situated at Chandigarh. Despite operating in the economically sound and feasible area, it has limited target market and low share in tourism as compare to other States. So, it is essential to enlarge its area of operations. Implementation of technology solutions involves huge capital out lay and extensive planning. One of the problems of service sector is heterogeneity in the personalities of the dealing hands. Government approach towards service sector especially regarding tourism in Haryana is not satisfactory as compared to other sub-sectors, which has to be reconsidered. So it is essential for Government to pay special attention in such area. Thus, this study is going to explore different forms and positioning of tourism products in Haryana. Several innovative steps proposed to be taken. A field based systematic survey was carried out at selected tourism spots in the study area. The present study examines the infrastructure and tourism resources available in Haryana and challenges faced by tourism industry of Haryana. The data used are primary and secondary in nature. The result of the study brings feasible suggestions and recommendations for further development of tourism in this region.

Channel Financing (CF) is relatively a new phenomenon, emerging process in the Indian business scenario, importance of which has been recognized by a few companies such as Lafarge, ACC, and Asian Paints etc. These days, companies in India have looked at ways like Manufacturing Resources Planning (MRP-11), Enterprises Resource Planning (ERP), Logistics Resource Management (LRM) and Supply Claim Management (SCM) of cutting costs, reducing their asset base and improving process efficiencies in their quest to become globally competitive through taking initiatives like Channel Financing. Channel Financing in India seems to be following the path of more advanced industrial nations, involving not only customers, manufacturers and vendors but also third party service providers, consultants, software providers etc.

Renovation in Indian banks is taking place from all aspects and is being refined as time proceeds and the products of the banking industry are enthusiastically modifying the face of banking. This paper defines the way renovation has affected the banking sector and the approach of using IT products which has changed the face of banking sector in India. It tells about the current scenario of the banking industry; and the factors that have brought changes in the industry; and how these factors have contributed to the development of banking. This paper shows how banks have now flourished into onestop Supermarkets. Their focus is flowing from bulk banking to class banking with introduction of value added and customized products. Technology helps banks to create what appearances like a branch in a business building’s lobby without taking to hire manpower for manual operations. These branches are 24 x 7 working which has been made possible due to ATMs, Tele banking, Internet Banking, E-banking and Mobile Banking. The technology determined delivery channels which are used to reach maximum customers in most effective manner and at lowest cost. The splendor of these banking novelties is that it puts both customer and banker in a win-win situation. The need is to design a system to promote marginal efficiency of investment technology and to increase the gap between marginal benefits and marginal cost involved in Banking Innovation with special reference to technological up gradation. In the paper survey on use of several E-channels and issues related to them is also shown.

The present study, an effort has been made to review the analysis of financial resource management of Central Co-operative Banks in Rajasthan viz. Jaipur Central Co-operative Bank, Alwar Central Co-operative Bank, Ajmer Central Co-operative Bank, Jodhpur Central Co-operative Bank and Pali Central Co-operative Bank in order to improve their performance in future. To supplement data contained in the annual reports, personal discussions were also held with the officials of the bank mainly to go deeper in the study and also to clarify certain points which emerged out of the study. The period covered for detailed study extends from 2009-10 to 2013-14. The data for the study have been obtained from the Annual Reports of the Banks, Co-operative Credit Structure in selected states and other publications of the Bank and Co-operative Departments. The Central Co-operative Banks play an important role in the Indian economy. The present study is confined to the Central Co-operative banks in India with special reference to Rajasthan. For this purpose five Central Co-operative Banks viz. Jaipur Central Co-operative Bank, Ajmer Co-operative Bank, Alwar Co-operative Bank, Jodhpur Central Co-operative Bank and Pali Central Co-operative Bank have been taken in the present study data relating to the past four years from 2009-10 to 2013-14 have been analyzed. Financial Resource Management of Central co-operative Banks in India (with special reference to Rajasthan) will help to draw meaningful conclusions and will indicate out of line trends. This will help in suggesting improvements.

The present study examines the impact of mergers and acquisitions (M&A) on the financial efficiency of the selected Banking Sector in India. Since 1999 the Indian Banking Scenario has witnessed a Phenomenal changes due to the globalization concept. To withstand the competitions from the MNC’s in the global markets, many Indian companies have entered in to the M&A deals. The banking sector is considered as booming sector and the soundness of the banking system has been vital for the development of the country’s economy. Hence an attempt is made in this study to analyze the impact of the pre and post Merger and Acquisition performances of select banks in India. The evaluation of performance were measured by using the ratio analysis. The M&A deals in banking companies that took place prior (Premerger) and after the deal (post-merger) ie., between 2004 – 2012 were taken for the study. The average performance of three years Pre- Merger and Post-Merger period were taken for the analysis. The main focus was based on the Overall Profitability parameters, Liquidity parameters, Solvency parameters. We found that there is no significant change in the Net profit margin of the Banking company, there is a significant change in liquidity position, and there is no significant change in the Long term Solvency position of these Banks. The results of the study indicate that M&A shows a significant improvement in the financial performance during the Post- Merger period of the Banking companies involved in M&A deal, and the acquiring firms were able to generate additional values in the post M&A periods.

Diversification is a buzzing word in the modern business world. It is the growth strategy in which a business ventures into new product line and or markets. A through survey of literature on this issue reveals that this strategy along with its effects has been studied by many researchers, but negligible importance has been given to Indian Corporate sector. In India, ITC Ltd can be recognized as one of the biggest and most successful conglomerate, whose diversification has been a prime strategy of growth. The present study is a modest attempt to analyze the impact of diversification on the profit earning capability of ITC Ltd using the data from 1994-95 to 2013-14. The entire period of study has been divided into two halves. 1994-95 to 2003-04 has been taken as the pre-diversification period and 2004-05 to 2013-14 has been considered as the post-diversification period. The outcome of the study reveals that the company under study out-performed in the post-diversification period as compared to the pre-diversification period in terms of profitability.

Indian Economy is one of the largest economies in the world. The process of liberalization started in the year 1991 and then capital market has been opened for the Foreign Institutional Investors’ (FIIs) since the year 1992. From various studies of different authors and researchers it is clear that FII inflows have significant effect on the Indian capital market. But it is required to observe whether the inflows of foreign capital through FIIs have effects on our national economy. This study seeks to observe the flow of foreign institutional investment in the Indian capital market and their effect on to the per capita GDP growth rate of our national economy. For this study, data have been collected from secondary sources and simple statistical tables have been used. The results show that during the study period, i.e. from the year 2001 to 2014, the flow of FII has entered in the Indian Capital Market in a fluctuating manner and that has an effect on per capita annual GDP growth rate of India.

TCS and Wipro are the important companies of Top IT Companies in India, which could survive during the past decade with extending its operations worldwide. The economic slowdown in the recent past has many sectors, for which IT sector is not an exception. They have also faced a lot of challenges– downsizing the employees, minimizing the operations, etc. with a view to cut the costs. Even through the IT companies charge a huge amount for software development, the pay and perquisites provided to the employees are considerably high. Under these circumstances, an appraisal of the Market Position of Tata Consultancy Services (TCS) Limited and Western India Palm Refined Oil (Wipro) Limited, felt necessary.

The study examines the efficiency of capital structure in Nepalese and Indian tobacco companies for which two tobacco companies were selected from each of the countries. The ratios used to measure the efficiency of capital structure consist of capital employed ratio and interest coverage ratio. The inter-country capital employed ratios of tobacco companies showed no difference or little difference between the sample companies' of each of the countries; whereas the inter-country interest coverage ratios showed the significant difference between the sample companies of both countries. But the intra-country debt to equity was found to be significantly high between Nepalese and Indian tobacco companies. But there was not any significant difference in capital gearing ratio between Indian tobacco and Nepalese tobacco companies. Similarly, the intercountry correlation coefficient of capital employed ratio showed positive in Indian case but negative in Nepalese case.

The purpose of this paper is to find out the relationship between liquidity position and the organization’s profitability and to identify the factors that affect profitability. Working capital management is considered to be an important issue in management’s decision and its effects on liquidity as well as on profitability of the business enterprise. Moreover, a favourable working capital positively contributes in creating the organizations value. Liquidity and profitability have one to one relationship as well as impact on each other. In this study we have analyzed the liquidity position and profitability position covering a period of 7 years from 2008-09 to 2014-15. Profitability has been measured in terms of Net Profit Ratio, Operating Profit Ratio etc and the liquidity position has been examined on the basis of liquidity ratios like Current Ratio, Liquid Ratio & Cash Ratio etc. Pearson’s correlation and analysis are used in the study. The study results confirm that there is a strong relationship between variables of the liquidity such as Current Assets and profitability of the company.

In any economy the energy sector plays an important role, the growth of the economy largely depends on the energy sector. In India, the history indicates that this sector was largely regulated by the government only. To a great extent this can be determined to be the cause of India’s poor share in the world’s oil and gas production and petroleum product consumption. Some of the biggest problems associated with the sector include excessive dependence on import of energy products and very little participation of private players in the sector. Realizing these issues, the government has taken steps to improve the status of the country in this field. Policies like Administered Price Mechanism have been dismantled. Moreover, the government has facilitated the entry of private players in the industry, in both upstream and downstream activities. Thus, deregulation of energy sector was supposedly a step forward to improve the Indian Petroleum Industry. It was only after independence that the government took control of the sector. Moreover in 1970s when oil crisis hit the country, nationalization of  international oil majors took place in the country. It was, after this that the Administered Price Mechanism was suggested by the Oil Coordination Committee. This mechanism was aimed to assure stabilization of petroleum prices across the country. Moreover, through APM producers, refiners and marketers were compensated for operating costs and also procured a fair return on their assets. What the researcher aims at discussing through this report is not merely the APM and its dismantling, but the role that the government is playing thereafter. In this Research paper, analysis of profitability of selected public sector oil companies is undertaken. For the purpose of study, four public sector oil companies are selected. Profitability ratios considered for the purpose of analysis are Operating Profit Margin Ratio, Gross Profit Margin Ratio, Net Profit Ratio.

Direct selling is the traditional form of marketing. MLM is a variant of direct selling. It is very important for multilevel marketing distributors to perceive thing as they really are in order to make accurate and useful decisions. In MLM, the distributors are compensated not just for their respective sales but for sales generated by people they recruit. It is very important for MLM distributors to perceive things as they really are in order to make accurate and useful decisions. Distributors may sometimes show the tendency to believe that they see the real truth before they actually collected ample facts. This paper describes the problems and set out a research paradigm to investigate (the influence of demographics on the perception level of MLM distributor. A rights perception towards MLM is a pre requisite in building a wide network that eventually results in better performance in the field.

Financial appraisal is an objective evaluation of the profitability and financial strength of a Business unit. Many a times, the terms financial performance appraisal and financial statement analysis are used as synonymous. The techniques of financial statement analysis are used for the purpose of financial appraisal. Therefore, financial appraisal is the process of scientifically making a relevant, comparative and critical evaluation of the profitability and financial health of a given firm through the application of the techniques of financial statement analysis. The accounting system is concerned with the classification, recording, summarizing and presentation of financial data. This data is analysed for the purpose of evaluation and appraisal of the performance. Financial statement analysis attempts to unveil the meaning and significance of the items composed in profit and loss account and the balance sheet so as to assist the management in the formation of sound operating financial policies. Undoubtedly, the analysis and appraisal of financial statements reveal the significant facts relating to financial strength, profitability, corporate efficiency, weaknesses, managerial performance, solvency and other such factors relating to a company. Financial appraisal is a scientific evaluation of the profitability and financial strength of a business concern. Financial appraisal is the process of scientifically making a proper, critical and comparative evaluation of the performance, i.e. the profitability and financial health .

The world is getting smaller and smaller, globalization has made it possible to accept the world as one market. To standardize the diverse accounting policies & practices & with a view to eliminate to the extent possible the non comparability of financial statements & to add reliability of financial statements, Accounting Standards are prepared. Application of a single set of accounting requirements has increased the comparability of different entities. This is the reason why more than 120 countries are following global accounting standards i.e. International Financial Reporting Standards (IFRS). In India, the need of Accounting Standards was recognized by The Institute of Chartered Accountants of India & therefore, it constituted an Accounting Standards Board on 21st April 1977. The Board has continuously issued accounting standards in various areas as applicable to business houses. At the same time, it has also revised the existing Accounting Standards as per the need of changing scenario. India made a commitment towards the convergence of Indian accounting standards with IFRS at the G20 summit in 2009. To become an IFRS-converged country as committed by it, India has to adopt the IFRS. But the ICAI, the premier body established by an act of Parliament has now issued IND ASs (Indian Accounting Standards) which are converged and now at par with IFRS. The ICAI, MCA and Government are all set and ready to implement those converged IND ASs in the country. Therefore, in this article an overview of Indian Accounting Standards converged with IFRS (IND AS) has been discussed.

Value added statement is a technical device design to highlight the utility or value added in the raw materials used by the business organization during the course of production or manufacture. The business organization uses raw material which is normally purchased from outsiders. In this raw material which is normally purchased from outsiders. In these raw materials the concern adds utility by converting it into finished goods. During the course of conversion of raw materials into finished good, the organization applies labour incurs overhead expenses and management works to supervise the entire work. However, in all the production process money is used which is provided by shareholders as well as by the lenders. The government provides basic facilities and conducive environment to work. Therefore, the value is added in the raw material by (i) employees, (ii) providers of capital (a) internal or (b) external and (iii) government. This article highlights the concept of value added in the present scenario.