Apollo Hospital Case Study Example | Topics and Well Written Essays - 1250 words

Apollo Hospital - Case Study Example The conditions in the industry have been tough and Apollo has to make certain strategic decisions to expand its network. However, despite its strong leadership and financial position it does aim to increase its financial risks in expansion due to high competition and initial investment requirements. Therefore, it must adopt a different strategy through diversification, licensing, partnerships or even making it a public limited company that could bring in new capital from shareholders. Apollo Hospital is a profit generating organization and it reported profits for consecutive ten years. Despite tough competition in the Indian healthcare industry the hospital was able to generate strong demand for its services. The revenue grew almost six times from INR57.192 million to INR374.426 million in 1994. The bed occupancy of Apollo Hospital has improved from 40.4% in 1990 to 70% 1994. All other performance indicator reflected a strong business model implemented by Apollo Hospitals that allowed the organization to remain ahead of its competitors in these years. The current case study analysis combines examination of external factors with the organization’s internal analysis to form a discussion of critical success factors (CSF) of Apollo Hospitals. The reason for choosing PESTEL, Porter’s Five Forces, and SWOT analysis tools for this case study is that they allow a better understanding of the strategy followed by Apollo Hospital to be the first to address healthcare needs of Indian population and its ability to outperform other companies. In addition, this report includes important conclusions from the case study and set forth recommendations for the organization to deal with the growing demand of high quality healthcare in India and tough competition from other corporate hospitals that followed Apollo Hospitals by making their entry with huge investments. There is not threat of substitutes as healthcare is the basis need of humans.

True View and Fair Presentation Essay Example | Topics and Well Written Essays - 2000 words

True View and Fair Presentation - Essay Example Countries like UK, EU, Singapore, Australia, and New Zealand have opted to adopt the 'true and fair view', whereas United States preferred to adopt GAAP standards. (Hopwood, Page, & Turley, 1990) While 'Present fairly in accordance with GAAP' took its origin from the US financial reporting regulations in 1939 (McEnroe & Martens, 1998), UK Companies Act 1947 introduced the concept of 'True and Fair View' for the first time in the UK. (Parker & Nobes, 1994) However the latest version of the International Accounting Standard - 1 (IAS 1) which became operative on or after 1st July 1998 recommends the adoption of both the reporting standards. IAS - 1 requires a fair presentation and disclosure in compliance with the IAS and in cases where there is a misleading element in the compliance to the IAS, the reporting can adopt a limited 'true and fair view' to override the fair presentation. (IAS 1, 1998) This paper examines whether the 'fair presentation' requirements of IAS - 1 undermine the UK's adoption of the view of 'true and fair' in the reporting of the financial statements. There is no authoritative definition of the term 'true and fair view' and some of the approaches to the definition have considered the concept in relation to the individual components of the terms in isolation. (Cowan, 1965) Chastney (1975) suggests that either of the terms does not presuppose the other and the also doubts whether the combined effect of the term amounts to more than the effect of the individual terms. Parker and Nobes (1991) found that majority of the auditors had made a distinction between both the terms 'true' and 'fair'. They also concluded out of their survey on the UK Directors that most of the directors considered both terms are synonymous. Both the terms 'true' and 'fair' have been defined in a precise and exact manner. "The nature of truth, whether it is absolute or relative, whether it exists as a reality, an incontrovertible thing, or as an abstraction, whether it is dependent or independent of the believer/observer and whether any statement can be proven or merely falsified are all aspects that that have been applied to accounting theory and research." (Covaleski & Dirsmith, 1990; Chua, 1986) Meaning of 'Fairly Presented, In Accordance with GAAP' Just like the terms 'true and fair view' there is no precise definition available of the term present fairly in accordance with GAAP' which can be considered as the American Equivalent of 'true and fair view'. Mano et al (1996) observe that the term may mean: The reports presented fairly and also in accordance with the generally accepted accounting principles