Essay on causes of fluctuating oil prices

The paper also discusses the performance of the company and its accounting systems. Group was chosen due to the relevance of the research topic. The discussion also focuses on the different trends being undertaken in the study. The main data are the company financial statements like the balance sheets, and the income statements are used in the discussion. There is the utilization of the findings in this research where the survey was conducted to evaluate the opinion on the analysis of the company. The UAE devaluation of its currency suggests that the economy may be worse. ADNOC operates in all areas of oil and gas industry broadening its activity by establishing the subsidiaries. The company has also created an integrated oil and gas industry.

The company is a public limited leading to the creation of financial statements. The discussion highlights the management accounting tools and techniques used by ADNOC to manage its decision-making process, financing strategy and working capital management. The qualitative and quantities analysis identified the data from the survey of the company financial statements. The financial performance analysis and the profitability ratio show that there is a positive relationship between the company profitability and the internal controls("Evaluating Audit Findings, Audit Evidence, and Deficiencies in Internal Control," 2017). This leads to the achievement of purpose between the two variables. Information provided in the research indicates that the management has a role in making internal controls for greater profitability of the organization. From the research conducted more than 80 % of the respondents have great importance in the analysis of the company.

While the supply increased, the demand for oil is decreasing. The UAE devaluation of its currency suggests that the economy may be worse("Introduction to Oil and Gas Industry," 2018). The deal reacted to that news of reducing oil declining it even further. oil is the most traded commodities in the world with many variables influencing its markets. Demand-supply dynamics influence the price trend of the oil commodities. DISCUSSION The SWOT analysis lists the good and bad things about the oil industry. The SWOT analysis evaluates the internal and external environment identifying the strength and weakness threat and opportunities about the business. The SWOT analysis utilized does not involve any calculation. The SWOT analysis dwells on the going concern of the business(Leitch, 2016).

The strength and weakness of ADNOC Company are evaluated from the following controls within the organization: • Company culture • Staffs • Intellectual property • Assets • Reputation • Geography The threats and opportunity are usually outside the control of the business. When the demand decreases, the organization will be affected. The opportunity in the ADNOC Company utilizes the products provided by the company("SWOT analysis," n. d). The organization has the opportunity to increase the stations of gas. Lack of good roads is a hindrance to the organizational success. The discussion is based on the managerial and auditing carried out in the company. The internal control system is evaluated to access how the company functions. The internal control systems are adopted by the company to enable daily running of activities.

The company is well known and successful in the world. The internal control policies can be used in financial analysis and financial performance(Leitch, 2016). The company utilizes the action plans established to yield reasonable assurance to achieve the set objective. The control structure improves the execution of the business operation in the socio-economic condition to achieve its goal(Leitch, 2016). The methodology analyzed whether the internal control of the company directly affects the profitability of the company. The company is seeking to improve unit’s profit, and it is seeking the role of internal control in achieving the set objective. The management plays an important role in creating the internal control structure of the ADNOC Company. Lioudis, 2018). The company tries to balance the demand and supply of the company optimizing costs of the company.

The demand for wholesale fuels in the UAE depends on the economic performance of a given country. The lubricants produced within the company are of great importance for the commercial fleet and construction of power generator. The regulation enacted by the UAE government allows for the fuel distribution setting the international health records. The demand leads to the fluctuation of the prices leading to higher demand for products. The supply of goods and services creates the attainability of the market and the competitive edge. ADNOC Company produces some 3 million barrels of oil per day producing around 3% of the global production(Nick K. Lioudis, 2018). The company is ranked as the leading producers according to the study done. The price stability will help in enhancing the development and sustainability of the economy.

The effects of fluctuation extend to reach a large number of the consumer of oil and oil products. The SWOT analysis was evaluating the profitability of the company. It is concluded that the management of the ADNOC has a take to play if the company for the company to have a competitive market. The survey conducted shows that the ADNOC Company utilizes the SWOT analysis to evaluate the going concern of the company. The management should ensure the financial statements are calculated from period to period. The profitability ratio should be used in comparison with the competitors and the internal benchmarking. The ratios should also be interpreted in a proper context. References Evaluating Audit Findings, Audit Evidence, and Deficiencies in Internal Control.