FIN 800 Lecture Notes - Lecture 37: Government Accountability Office, Russell Investments, David Hess
Document Summary
Lecture #6: pensions, government finance and hedge funds. Jen was recently promoted to a managerial position in the accounting department at her company. The financial accounting group now reports to her. After a few days, jen is confused to see her team continuing to work well past the end of their 8-hour shift. She speaks to her supervisor because she is concerned that the department does not have the budget to pay overtime to so many workers. The supervisor explains that the department meets its valuation and reporting commitments and budget goals by making its employees work off the clock. He states that the workers are well aware of this expectation and go along with it to keep their jobs. Sarah is shocked to learn this practice had become part of the company culture, but is uncertain of what actions to take. Government has the ability to tax its citizens to raise revenues to pay for initiatives and programs.
