Andrew M. McCosh, Michael J. Earl's Accounting Control and Financial Strategy: A Casebook PDF

By Andrew M. McCosh, Michael J. Earl

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Taking the holdings in BP and Shell at market value, the investment ofBurmah Oil Company represented 31 per centofits 1965 balancesheet. But the directors werevery conscious of the risks. The company was very heavily invested East of Suez. The intervention of Prime Minister Mossadecq of Iran in the operations of the AngloIranian Oil Company in 1954 had made it clear that the safety of major investments in the Middle and Far East was a matter of doubt. The board decided to expand into other safer areas of the world and developed aseries of oil exploration activities in Australia, Canada, New Zealand, Peru and Equador.

Taking the holdings in BP and Shell at market value, the investment ofBurmah Oil Company represented 31 per centofits 1965 balancesheet. But the directors werevery conscious of the risks. The company was very heavily invested East of Suez. The intervention of Prime Minister Mossadecq of Iran in the operations of the AngloIranian Oil Company in 1954 had made it clear that the safety of major investments in the Middle and Far East was a matter of doubt. The board decided to expand into other safer areas of the world and developed aseries of oil exploration activities in Australia, Canada, New Zealand, Peru and Equador.

Since it looks as if a high proportion of the work of my department is going to be reconditioning of trade-ins for resale, I figure that I should be able to make the same charge for repairing a trade-in as I would get for an outside repair job. ' Messrs Ziegel and Ward both started to talk at once at this point. Mr Ziegel, the more forceful of the two, managed to edge Mr Ward out: 'This axle business is unfortunate, all right, but it is very hard to spot a cracked axle. Charlie is likely to be just as lucky the other way next time.

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