Mis in Operations with Example - 2142 Words

Assignment 2 Prepared by: Rahul Bangur SMBA08172 Section - C Is MIS Applicable in Management? By the end of the first year of your MBA program, you would finish all the core courses, allowing you to appreciate the various management areas, particularly Operations Marketing Finance Human Resources You may also ask yourself how MIS fits as a management subject. This assignment will help you relate MIS to the management area of your choice. You are required to provide a practical example of how MIS can be deployed in one of the four specialization areas listed above. The report should include two integrated components: I. A discussion of why and how MIS is suitable for the specialization area; identify†¦show more content†¦The organization must have some goal. Identifying this goal requires some form of planning, informal or formal. Reaching the goal means identifying some strategies, formal or informal. These strategies are agreed upon by members of the organization through some form of communication, formal or informal. Then members set about to act in accordance with what they agreed to do. They may change their minds, fine. But they need to recognize and acknowledge that theyre changing their minds. This form of ongoing communication to reach a goal, tracking activities toward the goal and then subsequent decisions about what to do is the essence of management coordination. It needs to exist in some manner -- formal or informal. The following are rather typical methods of coordination in organizations. They are used as means to communicate direction and guide behaviors in that direct ion. The function of the following methods is not to control, but rather to guide. If, from ongoing communications among management and employees, the direction changes, then fine. The following methods are changed accordingly. {text:bookmark-start} {text:bookmark-start} {text:bookmark-end} {text:bookmark-end} Product and Service Management Product (or service) management includes a wide range of management activities, ranging from the time that theres a new idea for a product to eventually providing ongoing support to customers who have purchased the new product. Every organizationShow MoreRelatedThe Key Point Of Business Management1535 Words   |  7 Pagesorganizations have to have high performance on competition. However, the business world is quick changing every day. One key that help the organizations avoid risk successfully is the ability to understand the complexities of the organization’s targets, for example, customers, prospects and partners. Consequently, exec utives of the organizations have to create policy that can make vantage on competition, and they have to have plans that have continuous development. 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A management information system (MIS) is an organized combination of people, hardware, communication networks and data sources that collects, transforms and distributes information in an organization. An MIS helps decision making by providing timely, relevant and accurate information to managers. The physical components of an MIS include hardware, software, database, personnel and procedures. Management information is an importantRead Morebusiness information1034 Words   |  5 Pages2†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ Purpose and Scope of TPS, MIS, DSS, ESS and ERP Page 3†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ Business Value of a DSS Use of ERP to Major Corporation Page 4 5†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 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Enron Corporation A Foundation Of Fraud, Corruption,...

Enron Scandal December 31, 2001 will forever be etched in history as the day that one of the biggest white collar scandals came to an end. Electric and natural gas giant Enron was found to have been defrauding its investors out of billions of dollars in order to increase its stock prices, and fatten the pockets of high executives particularly Chairman and CEO Kenneth Lay, President and COO Jeffrey Skilling, and CFO Andrew Fastow. Thousands of employees were laid-off and lost their 401(k); those already retired lost funding from their pension.1 In this paper I will demonstrate that the Enron corporation was operating on a foundation of fraud, corruption, greed, and immorality; I will also reflect on the legal and financial consequences surrounding the scandal. The Enron corporation was formed in 1985 by the merging of two natural gas companies, Houston Natural Gas, and InterNorth; In the following year Kenneth Lay was appointed Chairman and CEO.2 Enron began its escapade of fraud and corruption in April of 1987 when it was discovered by Enron executives that Louis Borget and Thomas Mastroeni, traders in their Valhalla, New York office, known as Enron Oil, had been misappropriating funds; traders were â€Å"gambling beyond their limits, destroying trading reports, keeping two sets of books and manipulating accounting† (PBS, 2015) to make it appear as if the company’s profits were legitimate. The shocking yet not surprising response from CEO Kenneth Lay was not to fire the twoShow MoreRelatedCan Profitability and Morality Co-Exist?10045 Words   |  41 Pagessocial responsibility of business and that is to use its resources and engage in activities designed to increase its profits so long as it stays within the rules of the game, which is to say engages in open and free competition without deception or fraud. The question is of whether, in defining the business and understanding it as a moral reality, we should focus primarily on its goal of producing goods and services or of generating profits. A single concept of profit is not by itself sufficient to

Unemployment-Related Benefits Systems Free Essays

string(151) " view that it has maintained a suitable investment environment in Malaysia which has enabled Malaysia to achieve full employment since the late 1980s\." We gratefully acknowledge the assistance given to us by many people in this research project. More specifically, we would like to thank Mr Ahmad Rasidi Hazizi, Consul-General of Malaysia in Hong Kong, Dato Zaninol Abidn Bin Abd. Rashid, General Secretary of the Ministry of Human Resources, Mr Shamsuddin Bardan, Executive Director of the Malaysian Employers Federation, Mr Zainal Rampak, President of the Malaysian Trades Union Congress and Dr William K. We will write a custom essay sample on Unemployment-Related Benefits Systems or any similar topic only for you Order Now M. LEE, Associate Professor of Department of Politics Sociology, Lingnan University.In particular, we would like to express our gratitude to Prof Chang Chak Yan, Director of the Research Programme on Ethnicity and Overseas Chinese Economics, Lingnan University for his kind assistance. EXECUTIVE SUMMARY 1. There is no unemployment insurance or unemployment assistance system dedicated to helping the unemployed in Malaysia. The Government is of the view that it has maintained a suitable investment environment in Malaysia which has enabled Malaysia to achieve full employment since the late 1980s. You read "Unemployment-Related Benefits Systems" in category "Papers"Hence, there does not appear a need to establish an unemployment insurance or unemployment assistance system dedicated to helping the unemployed in Malaysia. Related welfare benefits in Malaysia include severance pay, benefits for old age, disability, death, employment injury and invalidity. However, no cash assistance is made to the unemployed under the relevant schemes. Malaysia also runs a programme to eradicate poverty. Households which suffer from poverty, whether or not it is caused by unemployment, can apply for assistance under the programme, subject to a means-test.This may secure the basic needs of the unemployed but the programme is not unemployment-specific. 2. 3. 4. UNEMPLOYMENT-RELATED BENEFITS SYSTEMS IN MALAYSIA PART 1 – INTRODUCTION 1. Background 1. 1 In October 1999, the Panel on Manpower and the Penal on Welfare Services requested the Research and Library Services (RLS) Division of the Legislative Council (LegCo) Secretariat to conduct a study on unemployment-related benefits systems. 2. 2. 1 Objectives and Scope The objectives of the study are: ! ! ! o examine the experience of China, Taiwan, Malaysia, Malaysia, South Korea, the United Kingdom (UK), and the United States (US) in implementing their unemployment-related benefits systems; to outline the research findings of the Organisation for Economic Co-operation and Development (OECD) and the Conventions and Recommendations of the International Labour Organisation (ILO) in unemployment benefits systems; and to make an overall comparative analysis of the experience in the above places in implementing their unemployment-related benefits systems, and study current provisions in h elping the unemployed in Hong Kong. .The scope of the research, as agreed by the Panels, covers ! ! ! ! ! ! ! ! historical development; main features and components; eligibility requirements; types of benefits and amounts; duration of payment of benefits; tax treatment of the benefits; source of funds for the benefits; and administration of the unemployment-related benefits systems. Legislative Council Secretariat Unemployment-Related Benefits Systems in Malaysia 2. 3 In this report, we focus on the experience of Malaysia. Although Malaysia s a member country of the International Labour Organization, it has not ratified any of the three conventions concerning unemployment benefits1. 2. 4 This report is part of the series of studies discussing unemploymentrelated benefits systems. There are 11 separate research reports (RP13/99-00 to RP23/99-00) on this subject. 2. 5 In this research, â€Å"unemployment-related benefits† refer to unemployment benefits and related welfare benefits. Unemployment benefits comprise unemployment insurance and unemployment assistance. Unemployment benefits are available to the unemployed only.In other words, these benefits are not available to people who are not unemployed. The recipient must be currently unemployed, able to work, willing to work and looking for work. Where there are no unemployment benefits or where these benefits are exhausted, welfare benefits may be made available to provide subsistence for those in need. These related welfare benefits, as defined in the 1996 OECD study of â€Å"benefit systems and work incentives†, include family benefits, housing benefits, child-care benefits and social assistance.They are made available to all citizens subject to a means-test, and are not specifically targeted at the unemployed. 3. Methodology 3. 1 This study involves a combination of information collection, literature review and analysis. Requests for the necessary information have also been obtained from the Malaysian Ministry of Social Welfare and National Unity, Ministry of Human Resources, the Malaysia Trades Union Congress (MTUC) and the Malaysian Employers Federation. This research report is based on the information obtained from these sources. . 2 In this report, we use the 1999 average exchange rate of RM1 = HK$2. 04 to convert the Malaysian Ringgit into Hong Kong dollar. 2 1 2 Ensuring Benefit or Allowances to the Involuntarily Unemployed Convention, 1934 (No. 44), Social Security (Minimum Standards) Convention, 1952 (No. 102), and Employment Promotion and Protection (Unemployment) Convention, 1988 (No. 168). Census and Statistics Department, Hong Kong Monthly Digest of Statistics, February 2000, p. 117. Research and Library Services Division page 2 Legislative Council SecretariatUnemployment-Related Benefits Systems in Malaysia PART 2 – UNEMPLOYMENT BENEFITS SYSTEM IN MALAYSIA 4. Background 4. 1 In 1999, Malaysia had a population of 22 million, of which nine million were active labour. The unemployment rate ranged from 2. 4% to 3. 2% for the past five years. The government estimates the figure to be 3% in 2000. There were 270 300 persons unemployed in 1999. Table 1 shows unemployment statistics of Malaysia for the past five years. Table 1 – Unemployment in Malaysia 1995 Labour force (‘000) Unemployment Rate (%) Unemployed Persons (‘000) Source: 996 8 641. 4 2. 5 216. 0 1997 9 038. 2 2. 4 216. 9 1998 8 880. 9 3. 2 284. 1 1999 9 010. 0 3. 0 270. 3 8 256. 6 3. 1 256. 0 Economic Reports, Ministry of Finance, Malaysia 4. 2 The Malaysian Gross Domestic Product (GDP) growth rates ranged from seven to nine percent in the past ten years. The GDP at current prices in 1999 was RM299. 68 billion (HK$611. 35 billion) while the per capita GDP was RM13,622 (HK$27,789). 5. Unemployment Benefits System 5. 1 There is no unemployment insurance or unemployment assistance dedicated to helping the unemployed in Malaysia. 5. The Government is of the view that it has maintained a suitable investment environment in Malaysia which has enabled Malaysia to achieve full employment since the late 1980s. Hence, there does not appear to be a need to establish an unemployment insurance or unemployment assistance system dedicated to helping the unemployed in Malaysia. Research and Library Services Division page 3 Legislative Council Secretariat Unemployment-Related Benefits Systems in Malaysia PART 3 – WELFARE BENEFITS SYSTEM IN MALAYSIA 6. Severance Pay 6. 1 In Malaysia both the employers and the employees regard severance pay as a form of unemployment-related benefit. . 2 All workers whose earnings do not exceed RM1,500 a month and all manual workers irrespective of their earnings are covered under the Employment Act 1955 which provides for severance pay. Severance pay in Malaysia is known as retrenchment benefits, or termination and lay-off benefits, which are paid at the following rates: ! 10 days wages for each year of service for employment shorter than two years; 15 days wages for each year of service for employment longer than two years but shorter than five years; and 20 days wages for each year of service for employment of five years or longer. ! ! 6. It is expected that the severance pay would be sufficient to meet the basic needs of an unemployed worker until he finds the next job. However, it should be noted that severance pay is not equivalent to unemployment insurance or unemployment assistance as defined in paragraph 2. 5 above. Payment of severance pay does not require the employer or the recipient employee to have made prior contrib utions; neither does it require the recipient employee to be able to work, willing to work and looking for work in order to receive payment. Severance pay is made to an employee solely on the basis of termination of contract by the employer. . Employees Provident Fund 7. 1 This fund provides benefits for old age, disability and death. It also provides members of the fund who have savings in their accounts to pay for medical treatment of critical illness or to pay for the medical treatment of their spouse, children and parents. However, it does not provide cash assistance to any employee who is temporarily and involuntarily out of work and who is looking for work at the same time. Details of the Employee Provident Fund are at Appendix I. Research and Library Services Division page 4 Legislative Council SecretariatUnemployment-Related Benefits Systems in Malaysia 8. Work Injury Insurance 8. 1 In Malaysia work injury insurance is treated as a kind of employmentrelated benefit. The Social Security Organization (or SOCSO), a statutory body, administers payment of benefits under the Employment Injury Scheme and Invalidity Pension Scheme. These schemes provide benefits to workers in cases of employment injury and invalidity. Hence, although these two schemes are not unemployment-specific, an unemployed worker who was injured or who has become invalid during his immediate past employment may receive benefits under these schemes.Details of these two schemes are at Appendix II. 9. Services for the Poor 9. 1 The Ministry of Social Welfare and National Unity runs a programme to relieve destitution. Under the Destitute Person Act 1977, a family is categorized as poor if the household monthly income of the family is less than RM460 (HK$938). Families who suffer from poverty due to unemployment, amongst other causes such as old age, illness and disability, may apply for assistance under this programme. According to available statistics, the number of people who would be categorized as poor in Malaysia is around 5. % (1. 2 million) out of the total population of 22 million. 9. 2 The poverty eradication programme provides the following assistance, which may be in cash or in kind: Table 2 – Services for the Poor Federal Scheme ? ? ? ? ? ? ? ? ? Assistance for children Assistance for the elderly Allowance for the disabled workers Launching grants Assistance for artificial aids / spectacles Public assistance* School aids* Assistance to youth* (apprenticeship) Natural disaster relief ? ? ? ? State Scheme** Public assistance School aids Job training apprenticeship allowance Natural disaster reliefRemarks: * ** Source: available only in Federal Territory of Kuala Lumpur except Federal Territory of Kuala Lumpur and Labuan Homepage of Ministry of Social Welfare and National Unity, Malaysia Research and Library Services Division page 5 Legislative Council Secretariat Unemployment-Related Benefits Systems in Malaysia 9. 3 We have asked for details about the above programme but we have been unable to rec eive a reply from the Ministry of Social Welfare and National Unity as of the date of the publication of this report.Research and Library Services Division page 6 Legislative Council Secretariat Unemployment-Related Benefits Systems in Malaysia PART 4 – PROPOSAL FOR A NATIONAL RETRENCHMENT SCHEME 10. 1 In February 1998 the Malaysian Trades Union Congress (MTUC) proposed the establishment of a National Retrenchment Scheme (NRS) to provide benefits to unemployed workers who do not receive any compensation from their employers. This proposal was made against the background of half of the claims to severance pay having been denied in 1998 owing to bankruptcy of the employer. The proposed NRS shows some characteristics of an unemployment insurance scheme, such as being contributory in nature, and with qualifying conditions on the eligibility of the recipients and the duration of payment of benefits. Payment are detailed as follows: ! Both employers and employees are each to contribute RM1 (HK$2. 04) per month; Only unemployed workers can receive benefits after having been unemployed for more than three months; An unemployed worker may receive the benefits until he finds a new job; and Once a retrenched worker receives a job offer but refuses to accept it, he would no longer be entitled to the benefits. ! ! 10. 2 The Malaysian Employers Federation (MEF) opposed the proposed NRS because it considered that the present legislation provided sufficient protection to the unemployed and that it would be unfair for all employers to shoulder the misfortune of a few employers. In addition, the MEF considered that the proposed NRS would increase labour cost, which in turn would increase production cost, and would discourage investment in Malaysia. 10. 3 In early 1999, the Malaysian Cabinet directed the Ministry of Human Resources to study the possible implementation of the NRS, reversing an earlier decision to reject the proposal.Having completed the study in July 1999, the Ministry of Human Resources announced that the proposal would be shelved for some time as the economy had shown signs of picking up and that there appeared no imminent need to establish any unemployment insurance scheme. No definite decision has been made on the proposal since. Research and Library Services Division page 7 Legislative Council Secretariat Unemployment-Related Benefits Systems in Malaysia Appendix I Employees Provident Fund 1. Under the Employees Provident Fund (EPF) Act 1951, it is compulsory for all employers and employees to contribute towards this Fund.The employer’s contribution is 12% and the employee’s contribution is 11% his monthly wages. General supervision is by Ministry of Finance and management is by a tripartite gover ning Board, consisting of representatives of the employer, the employee and the Government. Exemptions 2. The following categories of workers are exempted from the EPF Act: ! ! ! ! Expatriates; Domestic servants; Self-employed workers (but can elect to contribute); Out-workers (persons who do cleaning, alteration repair works, etc. ); Persons detained in custody, e. g. prisoners; Pensioners. ! ! Withdrawal of EPF 3.Withdrawal of EPF can be made in four circumstances: ! Upon the death of a contributor, his nominee can make a claim to EPF; Any contributor who attains the age of 55 years (old age benefit); Any contributor who leaves the country permanently; Any contributor on medical grounds subject to approval by a medical board. ! ! ! Research and Library Services Division page 8 Legislative Council Secretariat Unemployment-Related Benefits Systems in Malaysia Qualifying conditions for withdrawal of EPF contributions 4. made: Four conditions must be fulfilled before withdrawal of the EPF can be !The contributor must have contributed to the EPF for at least five years; The first category of old age benefits, which is equivalent to 60% of his contribution, cannot be withdrawn until age 55; The second category of housing benefits, which is equivalent to 30% of his contribution, can be withdrawn for purposes of purchase of a first residential house or a shophouse cum residential unit; the balance may be withdrawn at age 50; The third category of medical benefits, which is equivalent to 10% of his contribution, can be withdrawn for medical purposes including critical illnesses such as treatment of cancer, heart problems, etc. pproved by the tripartite governing Board. ! ! ! Research and Library Services Division page 9 Legislative Council Secretariat Unemployment-Related Benefits Systems in Malaysia Appendix II Social Security Organization (or SOCSO): Employment Injury Scheme and Invalidity Pension Scheme 1. The Social Security Organization (SOCSO) Act 1969 requires firms with one or more employees whose individual earnings do not exceed RM1,000 (HK$2,040) a month to register with SOCSO. Exemptions !Any persons whose wages exceed RM2,000 a month but who has never been covered; Any person whose employment is of a casual nature and not for purposes of the industry; Domestic servants; Employees who have attained the age of 55 years only for purposes of invalidity but if they continue to work they should be covered under the Employment Injury Insurance Scheme; Foreign workers; Government servants; Self-employed. ! ! ! ! ! ! Qualifying Conditions ! Minimum contribution of 24 months. For those who have made at least 12 monthly contributions, they are entitled to Invalidity Grant. Be less than 55 years of age at the time of invalidity or death.Invalidity must be determined by the Medical Board or Appellate Medical Board. ! ! Research and Library Services Division page 10 Legislative Council Secretariat Unemployment-Related Benefits Systems in Malaysia Employment Injury Insurance Scheme Contribution Employer’s contribution Employee’s contribution Coverage Industrial accidents; Occupational diseases; Travelling accidents Benefits Temporary Benefit Disablement 1. 25% of monthly wage Nil employee Invalidity Pension Scheme 0. 5% of employee monthly wage 0. 5% of employee monthly wage Invalidity or death from whatever cause Invalidity Pension Min. RM250 (HK$510)/month Max. RM1,268 (HK$2,587)/month (50% 65% of his average monthly wage, depending on the total number of contributions) Min. RM10 (HK$20)/day, Max. RM52 (HK$106)/day Permanent Disablement Benefit Min. RM10 (HK$20)/day; Max. 90% of the average assumed daily wage Dependant’s Benefit Min. RM10 (HK$20)/day; Max. 90% of the average assumed daily wage Survivor’s Pension Min. RM250(HK$510)/month Max. RM1,268 (HK$2,587)/month (50% 65% of his average monthly wage, depending on the total number of contributions) — Research and Library Services Division page 11 Legislative Council SecretariatUnemployment-Related Benefits Systems in Malaysia Employment Injury Insurance Scheme Medical Care According to Government Hospital rates or SOCSO’s Panel Clinic Funeral Benefit Lump sum payment of RM1,500 (HK$3,060) Constant-Attendance Allowance 40% of the daily rate of permanent total disablement benefit; max. RM500 (HK$1,020) Rehabilitation Benefit Facilities for vocational and physical rehabilitation Education Benefit A dependant child of an insured person receiving permanent Disablement benefit/Dependant Benefit/Invalidity Pension/Survivor’s Pension, below 21 years of age who is studying in a local institution of higher learningInvalidity Pension Scheme — Funeral Benefit Lump sum payment of RM1,500 (HK$3,060) Constant-Attendance Allowance 40% of the daily rate of Invalidity Pension Max. RM500 (HK$1,020)/month Rehabilitation Benefit Facilities for vocational and physical rehabilitation Education Benefit A dependant child of an insured person receiving permanent Disablement benefit/Dependant Benefit/Invalidity Pension/Survivor’s Pension, below 21 years of age who is studying in a local institution of higher learningSource: Ministry of Human Resources, Malaysia home page at Research and Library Services Division page 12 Legislative Council Secretariat Unemployment-Related Benefits Systems in MalaysiaReferences Websites 1. 2. 3. http://www. kempadu. gov. my/ http://www. jaring. my/ http://www. mtuc. org. my/ Research and Library Services Division page 13 How to cite Unemployment-Related Benefits Systems, Papers

Accounting Theory Political and Economical

Question: Discuss about the Accounting Theory for Political and Economical. Answer: Introduction: A conceptual framework is an important accounting framework in the area of financial reporting. The framework is arranged by a standard-setting body to solve basic financial reporting issues in an effectual manner. The framework plays a major role to delineate the nature as well as purpose of accounting. Apart from this, principles-based standards need a conceptual framework due to several reasons. For case, the major reason is that it presents an elementary structure for principles-based standards. The conceptual framework establishes the accounting standards in the root of the fundamental concepts of accounting (Bullen and Crook, 2005). Moreover, the framework would also be helpful to FASB and IASB to accomplish coherent accounting as well as reporting properly. A conceptual framework works as a written charter for financial accounting, reporting, and all the orientations that are prepared from it. On the other hand, the framework plays a major role to make sure that there is reliability between standards such as: IASs, IFRSs, etc. In other words, it also can be said that, the framework brings constancy between the preparation and interpretation of financial statement as well as financial reporting. A conceptual framework also puts a stop to dissimilar conclusions on analogous occurrences. It offers similar conclusions on related events. Moreover, with the help of the framework, FASB and IASB would be able to use more reliable standards eventually. In the context of future amendments in the accounting standards, the framework would be able to make sure that the amendments will be within its elementary conceptions and will not make an inconsistent standard (Wolk, Dodd and Rozycki, 2008). The conceptual framework is considered as the root of the accounting standards; so the root must be firm to maintain the consistency of the accounting standards. Therefore, due to above discusse d reasons; principles-based standards have need of a conceptual framework. The International Accounting Standards Board (IASB) and Financial Accounting Standards Board (FASB) share a general conceptual framework due to several important motives. For instance, the main motive behind it is that both IASB and FASB want to endorse the convergence of IFRS (International Financial Reporting Standards) and U.S. GAAP (Generally Accepted Accounting Principles) globally. In this situation, a common conceptual framework would be beneficial to lead a set of high-quality global accounting standards all around the world (Jack, Davison and Craig, 2013). Along with this, a common conceptual framework allows to the IASB and FASB to develop, refine and modify the IASB framework as well as FASB concept in an appropriate manner. A common conceptual framework also plays a significant role in order to develop future accounting standards that are principles-based as well as constant to fulfill the goals of the IASB and FASB. It also leads financial reporting to provide the inform ation that is required to make decisions that are related to credit, investment, and so on. In addition to this, a common conceptual framework deals with a variety of issues that IASB and FASB may face in their existing frameworks. Moreover, both IASB and FASB make out the differences between IFRS and GAAP; and also identify solutions to remove these differences effectively. In that case, a common conceptual framework provides global solutions to IASB and FASB; so they can purge differences between IFRS and US GAAP in an appropriate manner. The framework also offers the best stand to develop principle based common accounting standards to the organizations (Warne, 2008). A common inclusive and constant conceptual framework is also essential to remove all the conflicts that are related to the accounting standards. In view of that, it is important to share a common conceptual framework to IASB and FASB. Yes, it is true that several parties can benefit from a conceptual framework. I believe that a conceptual framework is more significant for several parties rather than other frameworks. In my opinion, a conceptual framework offers a common understanding of accounting standards to the parties. Along with this, a conceptual framework provides constant results to the accounting parties. It is a system of consistent objectives as well as fundamentals. By using this framework, parties do not require a lot of documents to prepare, analysis, and interpret financial statements (Bazley, Hancock and Robinson, 2014). So, it reduces the eminence of documentation as compare to others. On the other hand, a conceptual framework encloses high level accounting standards principles that the related parties can understand in a very easy way. In contrast, the other frameworks require loads of documents and also very complicated to understand. The conceptual framework is considered as a behavioural code and all the parties may follow this framework without any issue. Moreover, all the parties require consistency in the preparation of accounting statements; and it is only possible throughout a conceptual framework (Bromwich, Macve and Sunder, 2008). Consequently, in my opinion, a conceptual framework is more imperative than any other framework. In the area of accounting, a cross-cutting issue refers as the inconsistency between different accounting standards. A cross-cutting issue has an effect on the accounting standards. Along with this, cross-cutting issues generally expose the accounting rules that must be appear in the accounting standards of FASB and IASB (Gianni, 2016). In other words, a cross cutting issue refers as the huge effect in the operations of a specified field because of its nature. In addition to this, equality, sustainability, consistency, etc. are some potential examples of cross cutting issues. It is because of sustainability as well as consistency in accounting standards is essential to remove variances among global standards. Moreover, equality also motivates all the parties to work in an accurate manner. If there is an absence of equality, sustainability and consistency within the accounting standards as well as operations then it may create cross-cutting issues in front of the organizations (Gebhar dt, Mora and Wagenhofer, 2014). In this way, it can be assumed that, cross-cutting issues are dangerous to the organization because of they create discrepancy among accounting standards. The given case study shows that the US GAAP (Generally Accepted Accounting Principles) has become a major subject of critic in the recent years. The major reason behind it is that the US financial accounting standards are being more inconsistent. Along with this, according to me, the fundamental problem with financial statements is that these financial statements are completely unrelated with the global accounting standards. The major reason of this irrelevancy is that US GAAPs are still based on the historic cost measurement principle in place of the fair value of the asset (Laux and Leuz, 2009). I believe that, fair value must be used in order to make financial statements more consistent and relevant. On the other hand, the fair value of accounting standards would also be beneficial to reveal a clear depiction of the financial health of the company. Moreover, there are some limitations that make the use of historical cost irrelevant. For case, the historical cost only reveals the historic facts related to the company; and in this situation investors would not be able to evaluate the current situations as well as future projections in an accurate manner. The other limitation is that, the historical cost does not consider the changes that may take place in the marketplace (Chea, 2011). Along with this, the income statements that are arranged with the help of historic cost measurement principle are unable to disclose the actual profitability of the organizations. In this way, in my views, the above discussed are the most important problems with financial statements that are based on the historic cost method of US GAAP. Yes, I consider, the principle accounts must be a sign of economic reality as a core principle of measurement in accounting. It is because of economic reality involves all the business circumstances in order to evaluate the financial statements of business corporations. Moreover, it also takes into the consideration the fair value of accounting standards rather than historical costs. It is well known that historical cost method does not provide a clear picture of the profits or revenues of the firms. Historical costs are obsolete and therefore they are not applicable as a core principle of measurement in accounting (Kaur, 2013). Along with this, in the area of business accounting, the major purpose of accounting is only to present a fair and comprehensive image of the economic condition of an organization. In this situation, economic reality will work to provide an inclusive image of a company's economic condition. On the other hand, rarely, some conflicts may take place between accounting and economic reality conflict. But, it does not mean that, in that situation, economic reality would not be a key principle of measurement. It will always be a core principle of accounting. It is because of in the absence of economic reality, business firms face a lot of critical challenges to deal with the investors as well as analyst of the corporation. Moreover, some business organizations believe that economic reliability creates confusion at the time of preparation of financial statements. They become unable to decide that which item should be in the asset and balance sheet of the company (Fahnestock and Bostwick, 2011). But, in that case, the GAAP ignores the consequence of economic reality. It also increases the importance of economic reality; and therefore it can be measured a core standard of measurement in accounting. In real, there is no need to evaluate economic reality. It is because of it has been established its deep roots in the accounting standards. For that reason, standard setting bodies, practitioners, and financial experts believe that economic reality provides an unbiased representation of the financial statements of the companies. But, if there is a need of the measurement of economic reality then there are some methods or techniques that may be useful to measure economic reality effectively. For case, the first method is that economic reality works on the principle of the fair value. The fair value of assets can be helpful to evaluate economic reality (Eades, Laseter, Skurnik, Rodriguez, Isabella and Simko, 2010). On the other hand, valuation of assets such as: monetary assets, intangibles assets and assets traded in the markets also contribute their roles to measure the economic reality in the current situations of the marketplace. Moreover, the measurement of economic reality also depends on the required information of people. For example, investors will use cash flows to measure the economic reality. But, traders and manufacturers will use current market selling and buying price respectively to assess the economic reality (Russell, 2008). Also, historical transactions will also be used by the auditors to compute the economic reality. Hence, there are different measures that are useful in the measurement of economic reality. On the basis of the given case scenario, reliability in accounting indicates towards the quality of information. In other words, reliability in accounting means the accounting information that the business organizations provide to investors/users must be accurate and free from the errors. Along with this, the accounting information must be balanced as well as unbiased; and also competent to present the clear meaning of the accounting information. The reliability of the information depends on the constancy and also represents the clear meaning of the information for which they are proposed (Maali and Jaara, 2014). Moreover, bank statements, purchase receipts, and so on are the major examples of reliability in accounting. In addition to this, there are some important components of accounting reliability. But, verifiability and constancy are the two core components of accounting reliability. Accounting reliability refers to the credibility of the financial statements. It plays a major role in order to verify the accounting information. It is also beneficial to evaluate the trustworthiness of information and also use that information to make important decisions that are related to the investments (Jones, 2015). Overall, it can be assumed that, constancy in accounting information is reliability in accounting. On the basis of the given case study, it can be believed that, in current, issues related to environment are increasing on the regular basis. In view of that, business organizations are obliged to think about the environmental issues that are faced by all over the world. So, companies must take into consideration specific provisions to fulfill their environmental liabilities in an appropriate manner. These provisions would also be beneficial to identify the major elements that are responsible for increased environmental issues (Carmichael, Whittington and Graham, 2007). Apart from this, the FASB calls for companies to record a provision regarding environmental costs of retiring an asset on its estimated fair value. I think companies can estimate such a provision by taking appropriate actions into considerations. For case, to estimate such provision, companies should present these provisions in front of the stakeholders (shareholders, employees, community, government, company, etc.) a nd also give them instructions that they are required to adopt such provisions to record the major elements that are responsible for environmental issues. On the other hand, in my opinion, such provisions would be helpful to fulfill the future gains and to estimate fair value of an asset. Moreover, some important provisions that are also involved in the estimation are appropriate planning as well as costing of the assets. The company should also measure the on-demand performance of the assets. Business companies should also provide guarantees that their recourses and assets are eco-friendly (Patton, 2017). Along with this, companies should use a discounted present value and also apply the principle of the time value of money to estimate such a provision in an effectual and an appropriate manner. In the given case study, it is clear that, the business organizations in the US are bound to fulfill their liability towards the environment. Along with this, in the give case, it is also given that, the business corporations are obliged to pursue the important standards that are proposed by the US FASB (Financial Accounting Standard Board). Moreover, companies are also obliged to follow specific provisions that are developed by the US FASB with regard to detection of the environmental liability of the businesses. According to these provisions, the business organizations are forced to preserve environmental liabilities that are connected with the ultimate retirement of an asset (Repetto and Dias, 2006). Moreover, the business firms those are carrying out practices as regards asset retirement obligations are also obligatory to reserve their environmental liabilities in order to maintain recognition of a liability. In addition to this, in the given case scenario, it is clarified that, if the business firms estimate the fair value of the assets then their liabilities towards environment are held in reserve. Moreover, the estimation of fair value of assets also indicates towards the recognition of environment liability. These types of provisions also point towards the development of the environmental liability within the business processes (Hoffman, Raabe, Maloney and Young, 2016). In this way, the above discussed policies or provisions are the major aspects of the requirements that were used by US companies to extend appreciation of a liability. The implementation of these policies would be also beneficial for the companies in order to expand their business in the international market also. On the premise of the given case study, it can be analyzed that the development of environmental sustainability measures may increase the cost of the business companies. It is because of business firms need to spend huge amount of money in the implementation of such measures. But, this thing would be beneficial for the future of the companies. Moreover, the recognition of the liability regarding future restitution activity may affect the current and future net profits cash flows of the companies. For case, business organizations will spend huge funds to implement provisions related to the environmental sustainability (Pearce, Barbier and Markandya, 2013). This may reduce the current net profits of the companies. The main reason behind it is that the implementation of these measures will increase the costs of the companies. But, there may be seen high increase in the net profits of future years. It is because of due to the implementation of environmental sustainability measures, the goodwill of the organizations will increase in the upcoming years and this thing would increase the future net profits of the companies. In the same manner, the implementation of environmental sustainability measures will also influence the cash flows of the business organizations. For case, the implementation of the sustainability measures will increase the total amount of outflows at the start. As a result, it can be estimated that the cash flow of the companies will go outwards in the beginning. On the other hand, it is also projected that the prosperity of the companies will go up in future; and therefore the movement of the cash flows would be in the favor of the businesses (Glasson, Therivel and Chadwick, 2013). In this way, the recognition of environmental liability will improve net profits and cash flows of the companies in the upcoming years. The given case scenario expresses that, it is very important to recognize the environmental liability to the companies. The main reason behind it is that environmental liabilities play a significant role to save the environment from the dangerous chemicals or toxins. Along with this, the environmental liability will force to the business organizations to not release a large amount of waste during the production process. It is the penalty that must be given to the companies for spoiling the environment. So, the companies must recognize their liability towards the environment and they should implement effectual measures to fulfill their responsibilities related to environmental sustainability (Hammit, Rogers, Sand and Wiener, 2013). Moreover, to high extent the disclosure about the liability is adequate. There must be strict rules regulations to fulfill the environmental liability. Business companies should also understand that the fulfillment of environmental liability is not decreas ing their profits. However, it is increasing the goodwill and future profits of the companies. References Bazley, M., Hancock, P. and Robinson, P. (2014). Contemporary Accounting PDF. Australia: Cengage Learning Australia. Bromwich, M., Macve, R. and Sunder, S. (2008). The Conceptual Framework: Revisiting the Basics. In The British Accounting Association Financial Accounting and Reporting Special Interest Group Symposium on The Future of Financial Reporting. Bullen, H.G. and Crook, K. (2005). 'Revisiting the concepts: A new conceptual framework project.' Available At: https://www.fasb.org/cs/BlobServer?blobcol=urldatablobtable=MungoBlobsblobkey=idblobwhere=1175818825710blobheader=application%2Fpdf [Accessed On: 26th Jan. 2017] Carmichael, D.R., Whittington, O. R. and Graham, L. (2007). Accountants' Handbook, Volume 2: Special Industries and Special Topics. USA: John Wiley Sons. Chea, A.C. (2011). Fair value accounting: its impacts on financial reporting and how it can be enhanced to provide more clarity and reliability of information for users of financial statements. International journal of business and social science, 2(20). Eades, K.M., Laseter, T.M., Skurnik, I., Rodriguez, P.L., Isabella, L.A. and Simko, P.J. (2010). The Portable MBA (5th ed.). USA: John Wiley Sons. Fahnestock, R.T. and Bostwick, E.D. (2011). An analysis of the fair value controversy. Journal of Finance and Accountancy, 8, p.1. Gebhardt, G., Mora, A. and Wagenhofer, A. (2014). Revisiting the fundamental concepts of IFRS. Abacus, 50(1), pp.107-116. Gianni, R. (2016). Responsibility and Freedom: The Ethical Realm of RRI. UK: John Wiley Sons. Glasson, J., Therivel, R. and Chadwick, A. (2013). Introduction to environmental impact assessment. NY: Routledge. Hammit, J., Rogers, M., Sand, P. and Wiener, J. B. (2013). The Reality of Precaution: Comparing Risk Regulation in the United States and Europe. NY: Routledge. Hoffman, W.H., Raabe, W.A., Maloney, D.M. and Young, J.C. (2016). South-Western Federal Taxation 2017: Corporations, Partnerships, Estates and Trusts. USA: Cengage Learning. Jack, L., Davison, J. and Craig, R. (2013). The Routledge Companion to Accounting Communication. NY: Routledge. Jones, S. (2015). The Routledge Companion to Financial Accounting Theory. NY: Routledge. Kaur, J. (2013). The Fairness of the Fair Value Concept. International Journal of Business and Commerce, 3(3), pp.1-10. Laux, C. and Leuz, C. (2009). The crisis of fair-value accounting: Making sense of the recent debate. Accounting, organizations and society, 34(6), pp. 826-834. Maali, B. and Jaara, O. (2014). Reality and Accounting: The Case for Interpretive Accounting Research. International Journal of Accounting and Financial Reporting 4(1), pp. 155-168. Patton, L. (2017). Zurich: Disclosure of Environmental Liability. Available At: https://www.the-chiefexecutive.com/projects/ceo008_insurance/ Accessed On: [26th Jan. 2017] Pearce, D., Barbier, E. and Markandya, A. (2013). Sustainable development: economics and environment in the Third World. NY: Routledge. Repetto, R. and Dias, D. (2006). Trueva: a new integrated financial measure of environmental exposure. Yale School of Forestry Enveronmental Studies 2006, pp. 1-22. Russell, M.J. (2008). The Trend toward Fair Value Accounting. Journal of Financial Service Professionals 62 (3), p16. Warne, R.C. (2008). The Effects of Fair-market Valuations on the Judgments of Commercial Lenders and Nonprofessional Investors. USA: ProQuest. Wolk, H.I., Dodd, J.L. and Rozycki, J.J. (2008). Accounting Theory: Conceptual Issues in a Political and Economic Environment, Volume 2. USA: SAGE.

What contribution did Adam Smith and John M Keynes Essay Example For Students

What contribution did Adam Smith and John M Keynes Essay make to the study of economicsTopic: What contribution did Adam Smith and John M. Keynes make to the study of economics?Adam Smith was the founder of economics, as we know it today. His thoughts have shaped modern ideas about the market economy and the role of the state in relation to it. Smith laid the intellectual framework that explained the free market (which still holds true today) and laissez-faire. Both are connected with the underlying theme of economic growth. Smiths analysis is not confined to showing the interrelation between the different elements of a continually maintained system. It also explains how the system can generate the continual accumulation of wealth. And since, according to Smith, this process is most successful when left to the play of natural forces, his analysis leads him to urge governments to let well alone. We will write a custom essay on What contribution did Adam Smith and John M Keynes specifically for you for only $16.38 $13.9/page Order now Laissez-faire government believes commerce and trade should be permitted to operate free of controls of any kind; there should be no tariffs or other barriers. The direct translation from the French language is â€Å"leave alone to do†, which is self-explanatory. He is most often recognized for the expression the invisible hand, which he used to demonstrate how self-interest guides the most efficient use of resources in a nations economy, with public welfare coming as a by-product. It simply encourages businesses to provide what consumers want and at the same time it discourages government involvement. He believed that the only responsibilities of the government should be to define property rights, set up honest courts, impose minor taxes and subsides to compensate for well defined and narrowly specified â€Å"market failures†. To underscore his laissez-faire convictions, Smith argued that state and personal efforts, to promote social good are ineffectual compared to unbridled market forces. Adam Smith explained that a monopoly charges any price that it chooses, robs consumers and makes countries less efficient and poorer. Competition, he said, means that businesses try to charge the lowest price possible, so consumers get maximum value for money. If they can buy more, they support more jobs in the economy and the country grows richer. Without the police stopping competition, he said, monopolies cannot survive for long. Around the world today, government monopolies and other bad practices are under major assault from Adam Smiths ideas. Adam Smith believed that strong government was a great necessity, particularly to create and enforce laws and to ensure justice. He believed in a democratic partnership between government and the people, but knew that each should do what it does best businessmen should not control the justice system, nor should government try to run businesses. Thus he was the real father of privatisation and other 20th century reforms based on market economics under rule of law. And what drives this flow of goods and services: I quote Adam Smith from his The Wealth of Nations: Every individual is continually exerting himself to find out the most advantageous employment for whatever capital he can command. It is his own advantage, indeed, and not that of the society, which he has in view. But the study of his own advantage naturally, or rather necessarily, leads him to prefer that employment which is most advantageous to the society. He generally, indeed, neither intends to promote the public interest, nor knows how much he is promoting it. By preferring the support of domestic to that of foreign industry, he intends only his own security; and by directing that industry in such a manner as its produce may be of the greatest value, he intends only his own gain, and he is in this, as in many other cases, led by an invisible hand to promote an end which was no part of his intention. .u87e52a957e55ea00e47e50349a8a52a0 , .u87e52a957e55ea00e47e50349a8a52a0 .postImageUrl , .u87e52a957e55ea00e47e50349a8a52a0 .centered-text-area { min-height: 80px; position: relative; } .u87e52a957e55ea00e47e50349a8a52a0 , .u87e52a957e55ea00e47e50349a8a52a0:hover , .u87e52a957e55ea00e47e50349a8a52a0:visited , .u87e52a957e55ea00e47e50349a8a52a0:active { border:0!important; } .u87e52a957e55ea00e47e50349a8a52a0 .clearfix:after { content: ""; display: table; clear: both; } .u87e52a957e55ea00e47e50349a8a52a0 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u87e52a957e55ea00e47e50349a8a52a0:active , .u87e52a957e55ea00e47e50349a8a52a0:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u87e52a957e55ea00e47e50349a8a52a0 .centered-text-area { width: 100%; position: relative ; } .u87e52a957e55ea00e47e50349a8a52a0 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u87e52a957e55ea00e47e50349a8a52a0 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u87e52a957e55ea00e47e50349a8a52a0 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u87e52a957e55ea00e47e50349a8a52a0:hover .ctaButton { background-color: #34495E!important; } .u87e52a957e55ea00e47e50349a8a52a0 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u87e52a957e55ea00e47e50349a8a52a0 .u87e52a957e55ea00e47e50349a8a52a0-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u87e52a957e55ea00e47e50349a8a52a0:after { content: ""; display: block; clear: both; } READ: On vacation this summer I glanced out the window a EssayIn civilized society he man stands at all times in need of the cooperation and assistance of great multitudes, while his whole life is scarce sufficient to gain the friendship of a few persons. In almost every other race of animals each individual, when it is grown up to maturity, is entirely independent, and in its natural state has occasion for the assistance of no other living creature. But man has almost constant occasion for the help of his brethren,

It is widely advocated that anyone entering Essay Example

It is widely advocated that anyone entering Essay Example It is widely advocated that anyone entering Essay It is widely advocated that anyone entering Essay It is widely advocated that anyone come ining into either the field of reding or psychotherapeutics should hold taken stairss to face and cover with all yesteryear, personal troubles and arrange for adequate and ongoing supervising to guarantee their proficiency. Write at least 700 words on whether you agree or disagree with this statement, back uping your statement where appropriate. ___________________________________________________________________ Many observers have stressed that an openness of attitude and willingness for self-reflection are indispensable qualities for possible healers. It is argued that those draw a bead oning to work in the field of reding and psychotherapeutics should hold begun to turn to some of their yesteryear, personal troubles, instead than hold confronted all of them, and that this is basically an on-going procedure. This procedure seems peculiarly of import since practicians are doing usage of themselves, as people, as their chief tool in assisting others to work through their troubles. Receiving regular, on-going and good quality supervising seems besides to be indispensable, peculiarly from an ethical point of position, in order to supply an effectual curative service. It has long been recognised that the personal properties of rehearsing counselors and clinical psychologists have an of import bearing upon curative work with clients ( Rogers, 1961, McLeod, 1998 ) . Gibson and Mitchell ( 1999 ) , for illustration, have suggested that the personhood’ of the healer is the most of import component in reding. Barrett and co-workers point out that if counselors acknowledge their ain human fallibility and exposure, it is likely they will experience more heartily toward those who are besides less virtuous ( 2003, p.203 ) . It seems of import, hence, for clients to be cognizant that counselors are besides human’ and, like themselves, can see confusion, ambivalency, failure and defeat. However, there is besides much potency for injury if counselors and clinical psychologists lack the personal unity and competency which may take them to work the exposure of clients. Rogers ( 1961 ) developed a model of conditions, including unconditioned positive respect, empathy and congruity, which he saw as basic to the curative relationship. It has besides been noted that these curative values will be of small usage if practicians do non work vigorously and consistently on self-evaluation and the declaration of their ain problems ( Cross and Papodopoulos, 2001, p. 68 ) . Similarly, Gibson and Mitchell ( 1999 ) suggest that counsellors can non assist clients when they themselves are plagued by psychological or emotional distress ( p.72 ) . It seems that on come ining this field of work, a trainee healer must hold at least begun to organize a echt relationship with him/herself which means being honest and dignified. As Schapira explains, before get downing to work therapeutically with person, practitioners need to hold gone rather some manner along their ain personal journey of self-understanding to hold reached the topographic point where they are compassiona te and empathetic about their ain life tests, and have learned some of import things from them ( 2000, p.87 ) . It is of import, besides, to recognize that practicians, along with everyone else, will go on to larn, and confront yesteryear troubles, as each new life phase is reached and presents them with new challenges. Schapira ( 2000 ) points out that since healers need to be able to sympathize with a broad scope of people, they have to endeavor to work through many of their ain unsolved psychological issues in their therapies during preparation. She besides pointed out that unsolved issues can still emerge for the practician when working with a peculiar individual. She states that therapy is basically a journey of find and the single demands to hold the support of person who has been on, at least, a good portion of the journey herself ( Schapira, 2000, p.25 ) . Therapists, it seems, necessitate good, supportive and regular supervising from an experient supervisor as an built-in portion of their work. Schapira ( 2000 ) , for illustration, describes the relationship between supervisor and healer as one characterised by a signifier of audience with another individual who monitors the curative procedure, attends to the care of ethical criterions, boundaries, practician effectivity and on-going instruction on the practitioner ( Schapira, 2000, p.30 ) . Regular supervisory Sessionss, go oning throughout the practitioner’s working life with clients, proctor competency and facilitate geographic expedition and apprehension of issues originating from the procedure of therapy ( Schapira, 2000 ) . Personal issues may come up during supervising through, for illustration, a repeat of issues from the clinical work that the practician finds hard. As Schapira notes, the client’s feelings or troubles may vibrate with unsolved personal issues for the supervisee ( 2000, p.31 ) . The overseer’ , may assist to place them with the supervisee’ and flag up the demand to raise them in personal therapy or there may be a demand for strong feelings, evoked from work with a client, to be vented during the session. As summarised by Schapira, supervision is a working relationship with the end of doing sense and significance of client’s stuff and procedure, and the supervisee’s responses to it ( 2000, p.32 ) . In decision, so, it is argued that those come ining the field of reding or psychotherapeutics should hold begun to research their ain yesteryear troubles, sorrows and pleasances and be unfastened to further and continued self-evaluation throughout their working curative life. The agreement of regular, good quality and on-going supervising is an indispensable constituent of curative work, both during preparation and beyond. Clients conveying a broad scope of problems and concerns to the guidance room and enter into a collaborative relationship with the healer. As Schapira observes, the on-going undertaking of exploring and working through these hard emotional affects is the procedure that helps us sympathize with another who is seeking to make the same thing for themselves ( 2000, p.73 ) . ______________________________________________________________________________ Mentions Barrett, S, Komaromy, C, Robb, M, Rogers, A ( 2003 )Communication, Relationships and Care: A Reader,Routledge, London Cross, M, Papodopoulos, L, ( 2001 )Becoming a Counselor: A Manual for Personal and Professional Development,Brunner-Routledge, London Gibson, R.L. , Mitchell, M.H ( 1999 )Introduction to Counselling and Guidance,Prentice Hall, London McLeod, J ( 1998 )An Introduction to Counselling Psychology,Open University Press, Milton Keynes Rogers, C ( 1961 )On Becoming a Person,Houghton Mifflin Publications, Boston, Mass. Schapira, S ( 2000 )Choosing a Guidance or Psychotherapy Training: A Practical Guide,Routledge, London ______________________________________________________________________________ Entire words: 1008

CJUS 410 DB4 Essay Example | Topics and Well Written Essays - 500 words

CJUS 410 DB4 - Essay Example In addition, a single witness can incriminate the accused due to ill intensions or presentation of wrong information unknowingly. My view of witness cross examination is also affirmed by scriptures quoted from Proverbs 18:17 and Deuteronomy 13:16–19. Both scriptures encourage cross examination of witnesses in order to establish whether the information given is true or false which is my view of criminal procedure operation. Further, the scriptures quoted from Exodus 22:12-13 and Deuteronomy 22:13–18 confirm my view of using physical evidence in order to deliver fair judgment. The current criminal procedure addresses the issue of witnesses, cross examination of witnesses and provision of physical evidences in an acceptable manner. Firstly, the current criminal procedure uses federal rules that incorporate the rights for each party that participates in criminal trials. More importantly, the rights included demonstrate the bible teachings within the law. For example, the current system enables criminal defends to receive a fair trial (The Legal Information Institute n.d). Secondly, the current criminal procedure permits a substantive due process. This is where the law enforcement officers as well as judges and prosecutors are constrained by the constitution so that fundamental rights and liberties for people involved in a criminal procedure are adhered to (The Legal Information Institute n.d). Therefore, law enforces cannot take advantage of their position to intimidate the accused. Of more importance, the current criminal procedure provides for cross examination of prosecution witnesses. This facilitates the procedure of determining whether the information presented is factual or false. In addition, the current criminal procedure permits the accused to seek the assistance of a counsel (National Legal Aid & Defender Association 1). This enables the

Nursing theory reviewed Essay Example | Topics and Well Written Essays - 500 words

Nursing theory reviewed - Essay Example Nursing involves four perspectives in which the professionals address the whole nursing problems by subdividing the concepts into: The person/patient- they analyze the physiological structure and functioning of the body, psychological perspective to deal with mental processes and emotions. In addition, they analyze developmental processes within the lifespan and actively look into social-cultural and spiritual side of their patient. The health perspective in nursing tends to define health as a condition in which all body parts are in harmony with the client, here the client being the patient. This harmony is usually based on the body needs and how much it receives from the system in that for optimality the energy provided by the system should always be more than what the body can actually use. Nursing also seeks to evaluate environment aspect through analysis of external and internal factors that surround a patient and the rate at which they interact in any given time. Also nursing i nvolves consistency, should use direct but simple approach, governed by nursing education and practice so as to address the areas of primary, secondary and tertiary interventions Training and professionalism go hand in hand in that continuing one’s education and/or study while working is an essential criterion for a long term success through competence development in furthering their careers. With a series of requirements in the nursing sector, knowledge development is of paramount importance as to the scope of their activities. For instance knowledge development from antiquity to nightingale, from nightingale to science and from knowing patterns to contexts of knowledge development, calls for intensive study and further training. Ethical knowledge development calls for nursing ethics, code of conduct and morality and an over view of ethical perspectives. Nursing as a field with wide application and scope entails conceptualization and structuring of

Mohammed Ali Clay Essay Example | Topics and Well Written Essays - 1500 words

Mohammed Ali Clay - Essay Example He was raised in a middle class black household in the poorer district of the city. When he was 12, his new bicycle was stolen. When he went to the local police station to complain, the local policeman, Joe Martin, suggested to him to learn boxing. Young Cassius started training under Martin .who was also a boxing coach, in Louisville's Columbia Gym. Although Martin gave him the idea and inspiration to become a boxer, it was the black trainer, Fred Stone, who taught Clay the finer intricacies of the science of boxing. Boxing as a sport was known to the ancient Greeks and Romans. According to the Encyclopedia Britannica, "Boxing is a sport contested at the amateur and professional levels , which involves attack and defense with the fist. (Encyclopedia p. 177) Boxing had become a popular sport in the U.S, with the Irish immigrants, and later, the African Americans from early twentieth century. There were amateur and professional contests. Boxing was also a part of the Olympic Games. According to the Encyclopedia, "Boxing first appeared as a formal Olympic event in the twenty third Olympiad in 688 B.C."(Encyclopedia 178) In the 1960 Olympiad, eighteen year old Cassius Clay won the gold medal, which brought him fame. But he knew the big money was in professional boxing. "Ali signed the most lucrative contract- a 50-50 split -negotiated by a beginning professional in the history of boxing, with a 12 member group of millionaires called the Louisville Sponsoring Group."(Gale Cengage Learning) He has a great media personality- his boasts and sayings created public interest in him. Unlike the other heavyweight boxers, who were usually quiet and retiring, he was fond of publicity. His wit also helped to make him well known. He is reported to have told Gilbert Rogin of Sports Illustrated, "Boxing is dying because everybody is so quiet..What boxing needs is..more Clays" (Gale) In February 1954, he boasted to the readers of the same magazine, "Cassius Clay is a boxer who can throw the jive better than anybody." More money started to pour into the sport of boxing because of Ali's flamboyant personality and his witty boasts. In 1964, Ali fought Sonny Liston for the World Heavyweight Championship. Ali was only 22 at the time. Liston was a powerful fighter, but Muhammad Ali had science to his aid. Ali's war cry had been, "float like a butterfly, sting like a bee", which he did in the match in Miami. By using intelligence and science, young Ali won the championship. "He beat Liston in a display of beautiful, controlled boxing." (Gale) Although Liston was very powerful, he went down to Ali, who used his skills with good planning and great courage and confidence. An interesting anecdote about Liston is popular. According to Hauser, "Liston picks up the dice and throws craps and there is a big silence. Then a voice comes, "Look at that big ugly bear, he can't even shoot."(Hauser p. 50) Clay had made his announcement to everyone present. Confidence was the hallmark of Ali. Boxers without confidence are doomed. David Remnick writes about the fight on September 25, 1962. "On the morning of the fight, the heavyweight champion of the world packed a loser's suitcase. Floyd Patterson, for all his hand speed, for all the hours he put in the gym, was the most doubt-addled titleholder in the history of the division."(Remnick 1) But Ali was never doubt riddled, he was

Conditions that have led to global market development

Conditions that have led to global market development The development of international or global market itself is an interesting historical sketch that details all the relevant aspect of the developmental phase that have been going on since capitalism and the concepts of it took centre stage in redefining the way people do business across international borders and the course of industrialization that shaped and changed the facial outlook of global economic process. Though industrialization at its nascent stage originated in Europe, however; the latent force of commercialization or to say global commerce and international business stem from US in particular post world wars era. What is particular to the development of international market in the early part of 1990s or to say in the 20th century can be laid emphasis to the notion of growing influence of USA and its democratic capitalism. And the process of industrialization in the face of growing trade, commerce, also marked a way towards internationalization or the development of global market, which economist have often termed as globalization and its phenomena. In all fronts, there is no denying the facts that USA has been a major influence to the development of international market. One pertinent fact is the changing face of US business environment notable in the early part of 1990s. Add to it, the staggering $16.3 trillion in investment in the US alone speaks volume about the normative forms that conditioned the origination and development of international market. Moreover, post world war era, people affluence grew, so does the demands for goods and services, which are increasingly difficult for domestic market to sustain or to meet the demands. In that sense, international commerce and cross-border trade became the norms. Apart from that apparent fact that account to USA influence and growing dominance in the expansion of international market, the origination of World Trade Organization (WTO) in that period, that is to say during the nineties also have been prominent to mark the development of global market. In addition, the trend that is also catching up during the early part of the nineties especially business trends can be looked to the pertinent case of free trade agreements that opened up a way for cross-national trade and business. Specific to these types of condition, acceptance of free market system among developing countries added to the steam of international market and its conditioning. Explain the four risk of International Business? Business as we know is bounded by risks, given the nature of international business environment itself. One peculiar face of business risks is the uncertainty factor, and when it comes to international business it is rather looked upon as the primary risks elements in general. Apart from uncertainty, there are other things as well that seems risky. And the more prevalent risks elements to international or the primary factor of it can be laid emphasis to the following: Political Technological risks Economic risks Socio-cultural risks Political risks: There is no denying the fact that international business in any circumstance is bounded by political risks. Political risks can be understood as the factor that makes up the political features of a country. Thus, political climate at times have a greater force to play a part in international business. Take for instance, political uncertainty itself. That means when political climate is rather stable, international business also take the same course. However, most of the times political stability is rather an exaggerated term; given that there can be no sure shot method to predict nations political makeup, or to say the nature of its stability that hangs in the edge. As a matter of fact, with lesser political stability, the impact it have on business is also paramount, which in due course can change the direction and strategic makeup of business. Thus, political risks are one primary factor of international business. Technological risks: As we are aware, technology and the marvel of it have brought along a bundle of benefits, which have took the societal developmental phase one notch above the ground. Add to it, technology and its advancement is also ever increasing, which means each day and in the cycle of economic process, technological domination and its impact in international business is felt with greater force. International business are thus faced with the abject notion that less of technological awareness or outdated technological application in international business can hamper the way things work or are predicted. Thus, the risky elements can be looked to depreciating cost factor that technology posed or the security to international business. Economic Risks: What define economic risks are the financial elements that may its way to it. In simple sense, it can be broadened to the changing face of international business itself, which also defines the investment factors or nations inability to meet its own financial obligations. With the idea of international business and increasing trade barrier or free market trade can have a dominant role to play its part in international business cycle and thus, it comes as a risk. Socio-cultural risks: Civilization is always in a stage of development, and one factor that socio-cultural forms take its course can be laid emphasis to the notion that no particular nation and its culture are dormant. That is to say, cultural difference is wide spread, and when that element is accounted to international business, the marketing process also is posed with the uncertainty factors. Thus, organizational operational and strategic process is also challenged in such environment. Thus, marketer needs to be way ahead in understanding culture and society itself, which we can bracketed as socio-cultural risks. Why do firm Internationalize? The simple facts remains that firm internationalize for many reasons or the other; be it, profit motive, the expansion to new horizon, exploring and tapping new markets or for reasons less known, that is to say for competitive advantage or labor mobilization and last but not the least, the cost factors. Moreover, by going international, firm can also take centre stage to reaps the benefits of global exposure, and the opportunity cost that can be reaped from international business is also rather more in a sense that diversity is also exemplified, plus the means that internationalization provides towards new markets beyond national boundaries is also whats excites and interest organizations in going international. Add to it, supply chain and its management is also more broadened when firm indulge themselves in international business. Thus, the above mentioned facts in brief list some of the factors and the notion as to why firm internationalize. What are the different participants in International Business? Write in detail about the MNEs, Small and Medium Sized Enterprise, the Born Global firm. International business and its arena is a bundle of flourishing economic activities and the cycle of its repeats day in and day out. The simple facts are that without corporations and business houses, plus participants, economic activities are rather on the back foot or to say, it makes no sense at all. It is common knowledge that global economic process today defines the notion as to what constitutes participants in international business. Thus, the different participants are the following: Focal Firm Distribution channel intermediaries Facilitators. Agents or contractors, etc. Thus, these participants in international business forms the cycle of economic activities carried out in the background of each one participants dependent upon one another in international business scenario. Multinational Enterprise: Multinational Enterprise defines organizations that have set shop in more than one particular market, where its business expose is international, with a global aspirations and goals. Add to it, Multinational Enterprise also details the object of its ownership, which means that that part of the ownership is either owned by parties or more than single ownership take course. Moreover, Multinational Enterprise also posits special characteristics that mirror forms of nationality mix among its staff and managers. Hence, very often Multinational Enterprise is also known as MNC (Multinational companies). The best example can be looked to subsidiaries firms or American firms with their bases in foreign nations where operations and organizational control are decentralized, and the marketing strategy also is rather different from parent company or the likes. Small and Medium Enterprise: As the term denotes to, small and medium enterprise are organization with a business object and turn over that is rather small. And most importantly, employee counts are also small in numbers and counts, let say 20-30 employees for the starts. Add to it, company assets are also small in comparison to global firms or MNEs. But that does not mean that such organization cannot go global, given that globalization and notion of free trade provides a formidable leverage for small and medium sized enterprise to go global and can be looked upon as a competitor. Born Global Firm: Born global forms and its concepts is a rather mostly used term in the contemporary adage to mean the process of internationalization and its influence that is taking shape in local or national organizations with a potentialities to go international in due course. Such organization can be looked upon as startups, with lesser assets and turn over. Why do firms internationalize? The simple notion why firms internationalize can be laid emphasis to the globalization and its influences. The channelizing networked partnership possibilities, the opportunities in such a scenario, or to position themselves and influence partners or subsidiary firm who are either based in foreign shores also constitutes some of the sole components why firms internationalize. The idea of comparative management is also one main reason. Chapter 2 What are the Societal Consequences of Market Globalization? Explain Positive and Negative Consequences? As we can observe in and around the materialistic world that we live in today, commercialization and international business at times have provided a bundle of baggage or paved a way towards progression and development in economic sense of the term. However, consequences also can be translated and laid emphasis to the good the bad and ugly features that market globalization have brought along. Nonetheless, the economic reality and humans wants also should be acknowledged, and the fact that no nation is self reliant and self sufficient. Moreover, in order to meet the ever increasing demands for goods and services, global corporation fits the bill accordingly in facilitating the societal needs in one aspect and form of life in the societal sphere. Hence, the notable face of the negative societal consequences from a comparative and contemporary context can be laid emphasis to the following: Environmental or Ecological consequences. Depreciating and depleting natural resources reserve. The question of sustainability Climatic effects that have worsened. The positive effects of market globalization are: Avenue for employment generation Facilitates economic cycle Technological advancement Good and services are made available Cultural growth Socio-political growth, etc. Thus, it can be argued that the societal consequences or the effect of market globalization translate itself to have redefined the way people do business in simple sense of the term, which can be look as a positive aspects. Economic demands in the regional and global economy taken together are ever increasing, and market of globalization facilitates in meeting these demands. In that effect, more of the resources are utilized. However, natural resources and the likes also deplete with increasing use, plus scarcity of resources, which is a known fact add up to the compounding negative societal consequences that is generated out of market globalization, which is pointed above. What are the firm levels Consequences of Market Globalization? We cant deny the facts that firms benefits tremendously from market globalization and its effect. Thus, the phenomenon of market globalization has added an object that can never be thought of or imagined without market globalization in the course of civilization. Thus, the positive features can be addressed to the following points: Marketing process is impacted Business process and its management also exudes international outlook Diversity of business process Cultural mix and global awareness Production tactics and its cycle also is impacted Standardization, quality or products and services. Brand image. And finally, market globalization means a widow of free trade barrier for companies across international borders. However, when it matter to negative aspects of globalization and its impact on firms the following are some of the pertinent facts: Competition is also greater among firms due to market globalization and its consequences. Barrier to entry and exit in a particular market or industry also posits one of the negative consequences of market globalization. Resource utilization also often goes above the shelf Thus, when it matter to firms and the level of consequence that stem from market globalization also translate itself into the negative and positive features as detailed above. Chapter 3 Explain the three types of participants in International Business? The three types of participants in international business constitute the following: Focal Firm Distribution Intermediaries Facilitators Focal Firm: What defines focal firm as one participants is the fact that, focal firm itself is looked upon as an initiator to international business in real sense of the term. It means that focal firms constitute Multination Enterprise, Small and Medium Enterprise, where the actual economic and production process take shapes. Thus focal firms are looked upon as the centre and stage of international business and its cycle at the primary level. Distribution Channel: Distribution channel intermediaries and their roles are consumed in facilitating the distribution cycle common to international trade and businesses. In simple sense and meaning of term, distribution channel intermediaries defines organization that specializes in the distribution channel, that is to say, logistic support, marketing etc, which are the sole constituent of distribution channel intermediaries. Facilitators: Third is the facilitators, and includes firms and individuals, where the object of their roles and functions as participants in international business is broadened and exemplified to facilitating legal advice, financing and in between the interrelated business transaction is made possible. Furthermore, participants also can includes, licensor, joint venture partners and the likes of foreign distributors, foreign agents and all in between. What are the common characteristics of Born Global firm? The common characteristics of Born Global firm can be laid emphasis to the following: Bounded by national boundaries with a scope for internationalization Expertise services and products in regional market Start-up corporation or small and medium sized organization Though market is defined in fixed national boundaries and operations is also often constituted and headquartered in one particular location, however; that does not means that their role in globalization and its economic process is limited in a sense. The idea of born global firm and in characteristic in particular can be laid emphasis to the object that internationalization and its impact is a favorable foreground for born global firms. That is to say, born global firms are very likely to make way and expand its business scope beyond the national boundaries, as and when it senses the opportunities knocking its doorway. Hence, born global firms defines regional organization that have set up shop in foreign shape simply by assimilating the idea of acquisition, partnership and creating subsidiaries, etc, in foreign location, however, are headquartered in regional market, or in location where they originated. Thus, the trends in the face of globalization initiates Small and Medium sized corporation to explore such domains that open up new horizon to do business in the international arena to tap the potentialities of international business. What are the Foreign Market Entry Strategies of Focal Firms? Explain in Detail. Foreign market entry strategies of Focal Firms is rather a complex features and step wisely strategies initiated by organizations with the sole purpose to tap the opportunities of internationalization in the most beneficial course. What defines focal firms foreign entry strategy can also be laid emphasis to the notion that going international is no child task and requires an extensive attention to details and understanding the peculiar facet of international business environment. In that context, the development of strategies when it matter to focal firm entry in foreign shores take into account the involvement in greater degree to what defines international management itself and the creation of networks that should assist the firm movement and its entry into foreign shores smoothly. Thus, focal firms bring internationalization right at the outset by establishing a connected links or channel of networks and building relationship with firms in the foreign shores. Thus, strategy in such course is at a nascent stage that does not involve control of production or the likes of direct intervention into the other firm, especially in matter of internal control. And most importantly, relationships that are building up with foreign firm take its course and position themselves from the notional boundaries and all form of exchanges also take shape in that forms and to position itself in different network or the moves towards continuous development processes that should a lso aid and future action to take shape in the most feasible forms. (Ford, 2003, p. 189) In short, strategy of focal firm entry into foreign market can be classified as follows: Entry is indirect, where its course takes shapes initially to build a network channel or a relationship that should get in the way for smooth transition and movements in the future. Strategies most importantly come as a matter for influence and to drive home the idea of foreign market entry in the most feasible means. Creating a relationship channels that can assists in future course of actions. Position themselves in foreign shores and also establishing new contacts and the likes. Thus, these are some of the strategies that covers up, or some aspects that detail the normative standards, when it matter to foreign market entry strategies of Focal Firms in its discourse.

How developed is Brazil? Essay -- Econimics

How developed is Brazil? BRAZIL Economic A Case Study of: - Developments in two contrasting regions of a country (South East / Amazonia / North). - Strategies used by a government to improve the economy (in a developing country). - Exploitation of new resources within a country. - Impact of economic / industrial development on the environment of a region or country. Setting the scene - How developed is Brazil ? Brazil, alongside Mexico is considered one of South America's newly industrialising countries. GRAPH Main exports Metallic ores, coffee, fruit, chemicals, machines, weapons In 1991 Brazil had a debt of $123 billion.This is owed to the USA, the EEC, Japan and the World Bank. It is claimed that Brazil is "the 10th largest economy in the world". However in some urban areas 50% of people live below the "Poverty Line". Recent changes (1970 - 1998): - More people employed in manufacturing industry. - Fewer people employed in farming but between 1982 - 1990 agircultural output increased by 38%. - Over 50% of population employed in Services. - Increase in land used for farming - large estate plantations and ranching. - Rapid growth in "informal sector" jobs - working without official records (partic. in cities) such as street sellers, repairers, decorators etc. - Rapid growth of cities - over 75% of population live in cities. Of these 30 - 50% live below "poverty line". In the 1970's five main pressures created the debts: 1. Oil prices rose(doubled then quadrupled by 1979) so Brazils import bill increased as it tried to fuel growing industry. 2. Oil rich countries had money to lend - Brazil borrowed from t... ...outh est region where all raw materials; iron, coal, limestone are found. Near market - car industry in Sao Paulo (Volkswagen, Fiat, General Motors and Ford all located there, 4 of 2,000 foreign companies in Sao Paulo). Aircraft / defence industry big steel use too. 9. New weapons industry in Sao Paulo / Rio de Janeiroarea (South East region) - major growth 1975 - 1995. Located near major steel works. Defence commitments are important to Brazil (military government in 1960's - 1970's) - drug trafficking & guerilla wars along its borders. Located on new motorway routes - near decision making and industrial centres. 80% of Brazil's weapons are produced here as well as nuclear research near Sao Paulo. Brazil now exports weapons. The RAF makes a Tuscano training aircraft in Belfast, made from parts manufactured in Brazil.