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Negative Effects Of Internet Monitoring - 1635 Words

Internet Monitoring Weapons, Secrets, and Music, all of which are obtainable over the internet. All of which can have a dramatic effect on our society. Even though we have the 1st Amendment and gives us the right to free speech in the United States, it was drafted before the internet. The internet has become a gold mine of information, not to mention, anyone can make purchases over the internet from other countries. What about National Security? Many groups have committed all sorts of cyber-attacks on government computers from over the web. With this availability, the internet needs to be monitored for everyone’s safety. The internet is being used by many types of traffickers. First, human traffickers have figured out ways to use the†¦show more content†¦In addition, a website may be hosted in Sweden, but the drug will come from Latin America and will be shipped by boat to South Africa, with dealers spread out across Europe, he said. It s a global network. States Th e worldwide policing organization’s Daniel Altmeyer. Furthermore, he also said while there are no statistics available for people buying drugs online, sales have rocketed, in the past few years. (11 Sep 2008 the telegraph Group). It was also mentioned that many people who may have purchased such items over the internet may have felt they were not doing anything wrong since they were obtained so easily. Internet Arms Trafficking has become more popular for obtaining illegal parts such as, conversion kits to make semi auto to make them full auto, along with illegal weapons like pipe bombs and silencers. With these items on the streets and possibly in the hands of would be wrong doers like that of gangs, drug dealers, or even domestic terrorist or for that matter even international terrorist who may come here and have these items shipped over. ATF experts estimated that hundreds of illegal weapons have been sent to the United States.† In 2002 confidential sources informe d the ATF about an Argentinean suspect selling machine guns long with other illegal items over the internet, in which the agency quickly established e-mail contact with the person and ordered these items which was disguised as machine gun parts. This tip lead to aShow MoreRelatedMonitoring and Survellaince of Employees642 Words   |  3 PagesMonitoring and survellaince of employees Pro One of the key benefits of monitoring employee computer activity is maximising workplace productivity. In today’s society, most workers spend the majority of their time on their computers and on the Internet. 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Hypothesis Supply Chain Management in Today’s Business Climate Free Essays

string(31) " branch stores material needs\." Gathering and distributing information is as old as the human race itself. From the early days of cave paintings to today†s modern computer databases, human being has constantly searched to improve the way we communicate. In the business climate of today you must either have a state of the art information network or no clients. We will write a custom essay sample on Hypothesis Supply Chain Management in Today’s Business Climate or any similar topic only for you Order Now The cutthroat world of bushiness is cruel if your company can not keep up with the cutting edge technology. The way to beat the competition is to have the most state of the art information gathering and distribution network. Having this type of network is not the only battle, being able to use this system properly comes in handy as well. This paper is a walk through of information technology as it relates Supply Chain Management. Along this journey stops in the past, present, and future are made. Hypothesis Supply Chain Management in today†s business climate is the wave of the future. The gathering and distribution of information is the most important task in business today. History of Information Technology The evolution of Information Technology starts from the inception of the human communication. The real leaps and bounds came at the birth of the computer. Previously gathering of information took place without the use of real technology. Granted the use of writing letters and the use of telephone and telegraph speed the flow of information. These early forms did not have great storage capacity or easy access by many parties. The best analogy to use is a row of matches all lined up end to end. Traveling from one end to the other is the way the precomputer days had information flowing. With the use of a computer as a distribution point the picture of the matches changes from the line to a circle, with the distributor in the middle reaching all concerned groups at the same time. This visual perception shows the need for Supply Chain Management. The reason for Supply Chain Management is to make money. The easiest way to do so is to save time and space. The quick distribution of information does both. Information technology was first used as just a simple and efficient way of giving information out within the company. The main reason that these first uses were so simple is that the computer was also in its developmental stages. (Gordon, 1996) The painful fact was as much as companies wanted to more utilize the technology at hand it was expensive and consumed rooms full of space. With the later development of the desktop workstation corporations were better able to put the information at the fingertips of all their employees. This giant leap in both computer technology and information technology paved the way for some of the Supply chain†s current uses. The previous uses where to gather information from satellite sites throughout the company’s domain and bring this information back to a central processing point. Examples of the types of information transferred are employee and supplier records, inventories, and sales figures for the branch. This one way flow of information was the old school of thinking when it comes to the science of information management. Supply Chain Management says that you have your information flowing in more than one direction to work. Specific hardware changes that helped boost the importance of Supply Chain Management are the shrinking of both the size and cost of each computer. The reduced size of memory chips made for the easy shrinkage of the computer due to the large portion of space that this component takes up. Other hardware improvements include the reduced size of the tubes in the monitor making them less like the floor console televisions of old. Along with all of these improvements another strange thing happened, the price went down, as new technology became available. The use of the computer to distribute and gather information became affordable to all companies great and small. Increased storage capacity allowed companies to gather and hold more information at their fingertips. (Davidow, 1996) The other changes in Supply Management came in software development. The increased power of computers led software designers to actually create programs like databases and spreadsheets. The ease of use and organized storage of information made new programs appealing to the business world. The need to store and distribute information became the market niche for companies like Lotus, JD Edwards and Computer Associates. Addressing concerns such as security and accesses were two points of emphasis for corporate software buyers. The big hurdle to cross was not how to just gather information within your own organization but to also explore outside those boarders to gain more cost and time savings with suppliers and customers. The tool that answered this call was the development of the Internet and the World Wide Web. This network of computers combined with the new hardware allows for the communication of information around the world in seconds. The other thing the Internet brings to the table is information that any one could access even from the privacy of their homes. The important change here is now you can reach potential suppliers and customers very inexpensively. Remember that information is not just for company employees, but the consumer who likes to make informed purchases. Enhancement of networks and systems allows your suppliers to solicit you to meet your need. This is different from the old style in which you contact the vendor with a need. With all the legwork being done to provide your company it†s supply†s you can concentrate on giving the customer what they want. All this is possible from properly managing your Supply Chain (Ross et al. , 1996). Current Supply Chain Applications Companies use Supply Chains in many different ways that suit their business needs. A company like Mrs. Fields cookies uses its Supply Chain resources to gain valuable information about each of its branch stores material needs. You read "Hypothesis Supply Chain Management in Today’s Business Climate" in category "Essay examples" Along with this flow of information to central spot, the company provides direction and guidance back to the store managers from afar. By evaluating sales and inventory data district mangers make recommendations as to sales improvements and continued growth. Projections on material usage and personnel decisions and scheduling are handled from a central point. Companies like Microsoft use information technology to direct a global customer base and handle questions and concerns surrounding their product. Microsoft customer service representatives handle hundreds of electronic messages sent via the Internet about the customer†s latest purchase. Other uses include companies like Martian Marietta who use information gathering through the internet and suppliers to bid lower on contracts. The company does this by sending out specs of the project and letting teams of manufacturing employees† design to way to build the product. All the product requirements go to the suppliers for quotes and delivery schedules. From there the information goes back to the sales force who puts a dollar figure to the bid. This information exchange takes usually less than one week while leading competitors take over months. The reason other take so long is because of the face to face meetings and data organization time. Martin Marietta†s quick turn time does more than allow the sales force to bid on many contracts but allows for very accurate price quotes as well. Today many companies use the Supply Chain in different ways to suit their own needs. The basic principals are still the same, gain information and mold it while cutting down on the time it takes to get material and distribute the product to the customer. Gordon, 1996) One of the major tools used today is the Internet. Firms throughout the world use this global communication medium. The biggest importance to companies is keeping them in touch with the doings of other similar companies around the world. Uses of the Internet include soliciting potential customers as well as finding out what the competition is doing. This inexpensive form of advertising has become a favorite for marketing directors of all firms. This new medium allows for the connection to previously unreachable markets. Some companies like Amazon Books are a virtual company using the Internet as its headquarters. What Amazon does is sell books, but instead of being located in the local mall their location is Amazon. om on the Internet. This is an example of a true virtual Supply Chain, by reaching customers and suppliers alike with out actually being there. To place an order all that is requires is to gain access to the virtual store and then find what book you are looking for. The book arrives at your door by any number of package carriers, with a savings of 15 % or greater over a local bookstore. The reason prices are so cheap is there are no locations to lease and few employees run a store that services literally millions of customers from one location. Importance of Information In today†s global economy the transfer of a company’s information is a daunting task. The role of a CIO in today†s large companies is more important than ever. Some companies have given the CIO equal ranking to that of the CEO. The current structure of the economy dictates that a company must be able to manage its information and Supply Chain assets. The most important part of any organization is the people. Tapping the information that is available is the task of the CIO. The job of knowledge management falls as the responsibility of all employees, though the majority of the burden lies on the CIO. Guiding and directing the Information assets of the company is also a task of the CIO. Falling behind competitors is a dangerous proposition, utilizing all of your employees and suppliers is the only way to gain new information and stay one step ahead of the competition. (Davenport, 1996) Other current IT considerations include the cutting down on time and space between customer needs and the companies answer to those needs. A prime example is the American auto industry. In the 1970†³s the turn time for a concept car to make the production line was any where between three and five years. Now though the use of the Supply Chain automakers converse with what the customer wants then relays the information to the design team then to purchasing then finally on to the production team to complete the build. The current turn time is around 18 months. This is a time reduction of over 50%; the cost savings are tremendous. The implementation process takes less time and the customer gets more input to the final product. These are the ideal benefits of Supply Chain Management at work for you. Some companies have even passed some of the money they are saving back to the customer. (Gerkits, 1997) Asian companies have a great idea that relates to information technology and the Supply Chain. This idea is that they share information between competitors not just with suppliers and customers. The reason that they do this is to cut down on research and development costs. The Information Technology has endless possibilities in this field, a general storage position that is accessible by all parties. The idea is that you dump information into the pool and you pull out information that is beneficial to your organization. As the information resides in a database, a person has the opportunity to mold that knowledge and redeposit the information in the knowledge warehouse thus, synergy results. This above process allows for two plus two too equal 5 or more. This information sharing is a fairly new concept to American companies and especially new in the world of Supply Chain Management. The possibilities are endless provided that you control the flow of information and every participant is an equal benefactor. Rasmus, 1996) This sharing of in formation leads to the major concern of Supply Chain Management as it progresses into the next century. That is the issue of security, and how to control that sensitive information does not fall in to the wrong hands. Conceivably your company’s information assets, the people, could sell your in formation to others on the world market. The business espionage game has become big money; companies will pay any price to get an edge. This scenario looks less likely with increased sharing of information. Security remains a real concern with the internal access to information. The problem comes when your supplier has permissions to your database and uses this information to unfairly compete with your customers. With all employees having new information at their fingertips how do you prevent retrieval of personnel files and trade secrets to those who do not have the need to know? The answer is in many of today†s current software packages; the main stream idea is to limit access. What a company can do is install the information transfer programs but only allow certain sections to certain people. This variety of system is very popular with today†s companies because it solves the problem and is very inexpensive. Remember that anyone who wants to crack your security system can if they spend the right amount of money and time. (Gopal and Gagon, 1995) Current Company Values Due to recent large jumps in the value of the Stockmarket some analysts have thrown out the theory that companies are over valued. This statement may be true under the old accounting principles where a company’s worth is the amount of liquid assets it holds. With the increased emphasis on information technology and Supply Chain Management companies are being looked at in a new light, this light is that people are information assets. This notion makes it rather difficult to put a price on a company. People are now assets on a balance sheet because they can transfer information and add to existing information. The best way to picture this is that every employee has a nugget of information to give to each company. Each employee drops their nugget in the database with the others, but instead of forgetting it they are able to extract back out information. They take a look at all of the nuggets and add to them pool creating a new nugget. From the new knowledge someone else gains a new insight and then adds this information to the pool. This type of relationship is what makes the employees so valuable to your company and to those companies of your suppliers and customers. This is the best reason why the Stockmarket has set record highs in recent years. Investors know there is an X dimension to a company that does not show up on a balance sheet (Drucker, 1995). Future Implications of Supply Chain Management One of the changes that may occur is that employees could work at more than one place imparting information that they gain from other experiences. This takes consulting one step farther and hires workers out to the highest bidder. Imagine sitting at home working for Pepsi and Coke at their same time developing new manufacturing techniques. The reason you could do this is because of telecommuting and one company does not necessarily know that you work for the other. There is nothing wrong with collecting two salaries for the same amount of knowledge. The value placed on the information that people gather and distribute will increase for the future. The most important business task done today is to collect and distribute information for your company that was gathered from your suppliers and customers. Some other new ideas are to follow in Amazon. com†s footsteps and become a virtual storefront on the Internet. Some companies now use the Internet to control the total logistics of their operation from ordering to customer distribution. With the increased processing of information the customer has the ease of staying at home to make purchases. The new technology of the future brings so much more information to the table than in the past, with this increased amount of information people can make more informed choices in both purchasing and delivery (Coull and Rothman, 1993). Drawbacks of Supply Chain Management With information technology providing today†s managers with literally thousands of pieces of information on one topic how do they still make the right choice? The final decision on a problem or project rests in the hands of the same person it did before all this information was so readily available. The problem is too much information. This problem leads to thinking too long about a project and the window of opportunity closes before your company has time to react. The decision-makers of the company have to sort vast amounts of information sifting through to find the pieces that are most useful to them. Information overload is a very real problem with larger supplier and customer databases. The manager still makes the call, right or wrong on a decision. Hopefully they possess more information than in the past. One of the other problems with the Supply Chain is that when first put on the market it promised to reduce the number of workers there by increasing productivity. The problem is that Supply Chain Management has only displaced jobs and no real productivity gains show up in most sectors of the economy (Attewell, 1996). Other hindrances to Supply Chain Management include less face to face interaction. This is a problem mostly on a sales side of the house. Companies are now on a Just In Time delivery system that brings their goods to the factories when they are ready to use them. The ordering process for this system uses Supply Chain values. What happens is that a buyer’s inventory’s records post on the supplier’s system. They have a min. max. system in place telling the supplier when to ship the product. This definitely cuts down on the number of people in business who come by to check inventory levels and see if you are ready to place another order. With the new inter-plant communication people see less and less of their co–workers and supervisors. Telecommuting has also taken off for some companies. This method of work has very little face to face dialog. The customer may lose out as well; they do not receive the face to face support that they have know in the past with a particular product. Even know some companies do not answer your questions about a purchase with a real person a canned message is on a computer with options. This method of customer service is less expensive for companies so expect this trend to increase. This problem is more one for Social scientist than for smart business operations. (Davidow, 1995) The final drawback is the value of your company. This is not only a problem for investors, but also when you go to borrow money. How do you determine the exact worth of the corporation? Earlier we learned that company now has more value placed on them than just the liquid assets. How does a lending institution loan money, certainly not on the value of people? They need hard assets to back up a loan. What we have is two different values of the same firm. The problem comes when your market value far exceeds your lending value. The reason is that you may need a certain amount for a loan to stay competitive, yet because of hard asset value you can not afford it. The sale of more stock is an option, yet companies may not want to put themselves in a position to have a hostile take over (Rayport and Sviokla, 1995). Conclusion As the technology of gathering and distributing information and supplies increases our business world faces problems. The positive aspects far outweigh the changes that companies will make to accommodate new Supply Chain assets. Companies are currently getting on board the information technology train; this trend appears to continue in the future. Over the history of humanity there has never been a lack of need for information. The science of Supply Chain Management can either make or break business today based on utilization of the service. The company that remembers employees now play a major role in adding data to the information warehouse will reap large rewards. The personal uses of Supply Chains are still a bit behind the business world but still make home life a lot easier by paying the bills electronically. The value system has a way of righting itself, so company values on both the market and in lenders’ eyes will equal in the end. The best proof positive example that the use of Supply Chain Management works is with the U. S. automakers and the recent increases in market share they have seen. The turnaround owes its success to the faster processing of information, especially the desires of the customer. Supply Chain Management is the most important set of skills and tasks that a company has today. How to cite Hypothesis Supply Chain Management in Today’s Business Climate, Essay examples

Assignment on Auditing Laws Auditor Independence

Question: Describe about the Assignment on Auditing Laws for Auditor Independence. Answer: Introduction: The current assignment focuses upon the different sets of relevant auditing standards and sections pertaining to the hypothetical as well as real scenarios. The current set of answers deals with the different sets of role played by the policy making in terms of auditing and fair representation of financial figures in terms of the company. Moreover, appropriate care has been taken to ensure mentioning the relevant references pertaining to the topic under discussion. The different sets answers are directed at showcasing the applications of different sets of rules underlined in the Corporations Act as well as other relevant acts with regards to the provided sets of scenarios. The different set of circumstances that gives rise to the levels of conflicts of interest is regulated through the use of different sets of auditing practices. Regulations pertaining to the maintenance and facilitation of the performance of financial services and the different types of entities are covered through the guidelines in the Corporations Act, 2001. 1.A) Role of ASIC in investigating allegations such as insider trading The Australian securities and investments commission act (ASIC act) is responsible for ensuring that the Australian financial markets are fetched with fair and transparent information, which are supported by confident consumers and inform investors. It is an independent body under the Commonwealth Government of Australia, which is set up under the ASIC Act 2001. Most of the regulations of the ASIC act are based on Corporations act 2001 (Asic.gov.au. 2016). The ASIC is set to regulate the Australian companies, different types of financial services and corporate markets of Australia. The main role of ASIC seen in terms of financial services regulator which is responsible for contributing to the economic reputation and ensuring the well-being of the Australian financial markets some of the rules under ASIC act includes: Maintenance and facilitation of the performance of financial services and the different types of entities Promotion of confident and pre-informed participation by the consumers and investors in the financial system fective administration of law with minimum procedural requirements Enforcement and making the law effective Efficient receiving of the store and process and the information given to ASIC making the information of the companys and other financial bodies available to the public at the earliest Insider trading is the act of dealing in the stock of public company or other securities life bonds by individuals with access to important nonpublic information of a particular organization. It is considered illegal and unfair by other investors who do not have permission to access the information. Hence, it is important to investigate allegations such as insider trading as the information obtained can potentially make larger profits, which a typical investor cannot make (Austin and Smith2014). As per Corporations Act 2001, it is stated the use of information for the purpose of acquisition or disposal of the financial products or procuring another person for acquisition or disposal of the same is considered as an illegal activity; hence ASIC is responsible for detecting and investigating such acts (Bromberg et al.2016). B) Professional independence Professional independence is termed as independence of the internal or external auditors which may include from parties to have a financial interest in the audit being conducted. Definition of independence of mind The independence of mind suggests that the brain permit the provisioning often opinion without being altered by influences, which comprises professional decision-making or judgment, and allowing and individual to act with required amount of integrity. The independence of mind also includes exercising of professionals skepticism and objectivity in the activities (Lexicon.ft.com. 2016). Definition of independence of appearance The definition of the independence of appearance deals with avoiding the facts and situations which are significant enough to ensure the integrity by a third party. The information should be reasonable enough with adequate knowledge of relevant information including forms capability, integrity professional skepticism and objectivity. In other words it can be also stated that independence of appearance is related with avoiding relationships which may be seen to threaten the willingness or the capacity to criticize and scrutinize the managers. In the process of being friend in Facebook as well as LinkedIn may be seen as an act of independence of mind. C) The insider trading is related the threat of independence of appearance. This is because the maintenance of relationship seen to be threatening to the capacity and scrutiny of the managers. As per the code of ethics for professional accountants (APES 110), the companies need to provide up to date education on different types of ethical problems, and defaced and the legal restrictions which may raise the potential threat of insider trading in an organization. As per the (APES 110) it has been also stated that professional accountant in a firm should not involve himself/herself in manic relation of information for personal gain. The regulation also states that confidential information should not be used for the purpose of personal gain. This is clearly stated under section 314 of financial interests. The different types of the policies for independent management also deter minds the level of the regulation of the senior management and disclosure of the relevant interests and share k nowledge for employing organization in accordance with the internal policy framework (Abdul Wahab et al. 2015). 2. Auditors liability towards shareholders: Auditors duties under the Australian Auditing Standards includes ensuring that the financial statements are bereft of any material misstatements, irrespective of whether such misstatements have occurred due to fraudulent activities or because of errors. ASA 200 denotes the fact that the potential consequences with regards to material misstatements are significant in cases where fraudulent activities are involved. As the risks of failing to detect material misstatements by auditors are more severe compared to the frauds committed by staff of such organizations, liability of auditors increases substantially. ISA 700 para A 28 (1)c states that appropriate set of ethical guidelines are required to be followed in terms of engagements in Auditing services. In the current case of TNT Limited it is observed that the auditors did not apply due diligence or have not investigated the degree of genuinely represented financial figures amongst the data that the management has provided to such audi tors. Auditors liability towards the company: As mentioned in the ASA, the Auditors responsibility increases substantially in cases pertaining to detection of material misstatements and frauds. Moreover, the reinforcing of professional skepticism in conducting auditors in order to detect and manipulation of financial statements by the management of the respective company comes under the purview of auditors. According to the AAS 330, Para A37-40 the auditor is required to seek further assertions about fraudulent entries in the financial statements barring which the auditor can be held responsible in a case of professional misconduct along with negligence. Moreover, ASA 720 para A25 clearly states that the summarization of financial figures should contain additional set of information through footnotes and information regarding the entitys methods of coming up with such financial data. Auditors liability to individual creditors: It has been clearly mentioned that the auditor has to assess any probability of financial misstatements as contained in the para A12 and A13 of the AAS 315. However, the auditors cannot be held fully responsible for a wrongful assessment of the solvency of the company. Section 307c of the Corporation Act states that the auditors are required to provide declarations pertaining to the fact that there have been no contradictions and contraventions with regards to the Auditors independence in conducting the auditing procedures. Thereby, the auditor clearly mentions that there has been no influence of management upon the Audit report in accordance with the aforementioned section. Moreover, under subsection (1) and subsection (3) of Section 307 the declaration by the auditor is compulsory and thereby the auditor cannot be relieved fro impending penalties and legal repercussions of certifying a financial system that is misrepresented. 3. Audit expectation and performance gap The different elements of the Model suggested by Brenda Porter states the Related to reasonableness, deficient performance gap and deficient standards gap. As defined by Porter in the year 1993, the composition of performance gap based on the non alignment in terms of the social expectations regarding achievements of auditors is compared to what the auditor actually ends up achieving (Ruhnke and Schmidt 2014). A reasonable performance gap is defined as what is expected by the auditors from the society, which can be reasonably accomplished. The gap related to the reasonableness is associated due to unreasonable locations. The main accusation surrounding the file was due to breach of payment terms made to Platini in the year 2011 with an amount of $ 2m of disloyal payment. The ethical committee of FIFA clearly suggested that Sepp Blatter along with Michel Platini showcased an abuse of power with regards to their posts as FIFA president and UEFA president respectively (BBC News. 2016). As per the financial statement provided by the auditors of KPMG, the consolidated financial statement of FIFA truly stated in depicting it fair and true view of the financial standings and the resultant of the operations of the cash flow they are properly maintained in accordance with international financial reporting standards (IFRS) and complying with the analysis below. The auditor of KPMG also suggested that the conduction of the audit was in accordance with Swiss auditing standards and SWISS as well as IFRS. The main difference between the perceived performance gap of auditors and the expectation of the society are seen due to several reasons. This is mainly seen because auditors provided an incomplete service to see for by not maintaining the standards of Swiss auditing standards and the laws of as per international standards on auditing (Porter et al. 2012). 4.(a) The name of the relevant company is Telstra Corporation Limited and the financial year end of the company is 30th June, 2016. (b) The total number of member comprises of 4 members chaired by an independent director. (c) The audit committee is chaired by independent directors, and as per company statute the other members are independent as well. (d) The ASX has recommended that the audit committee has to be constituted of independent and non executive directors including the committee chairman. This is required to be done in order to mitigate the agency problems as misstating the financial statements becomes relatively streamlined in case the audit committee has a conflict of interests. Moreover, the risks of overstating profits and bankruptcy are reined in case where the audit committee is devoid of any executioner power in board and who play the role of an overseer in terms of companys activities. Further, independent directors are considered to be the safe keepers of shareholders interests and thereby the reports pertaining to the financial statements are less biased and are less influenced by the company executive directors. (e) The audit fees exceed 10% of annual external audit engagement fees. As the guidelines set up by the company stares that fees earned by Ernst Young cannot exceed 1.0 times in regards to the overall fees and expenses in regards to auditing of the company. (f) The independent directors report regarding the non audit services under the purview of Ernst and Young the auditors of Telstra. The committee on audit and risks comprising of independent and non executive board members states the provision with regards to the non audit services of the company is in accordance with the general standard pertaining to the guidelines mentioned in the Corporations Act, 2001. The non audit services are stated by the company to have been conducted without compromising the level of independence of the auditors. The prohibited services according to the company policies and in accordance with the rules laid down in the Auditing Standards, the auditors are restricted from reviewing their own works pertaining their non audit services such as advices regarding corporate restructuring of the company, guidance in terms of tax policy in order to reduce the overall tax burden of the company, and reviewing different set of prospective acquisitions. (g) Increasing the non audit fees over the audit engagement fees encompasses several sets of problems in terms of conflicts of interests. As the non audit services comprises of several instances of assistance in regards to taxation policy of the company, the increases of non audit fees can lead to misappropriation of revenues through tax policies that are detrimental to the company. Moreover, the suggestion in regards to the corporate policies that are offered by the auditors can lead the pathways towards overstating of profits in regards to such decisions. (h) Ernst Young were the external auditors of Telstra for financial year 2015. (i) S J Ferguson of Ernst Young signed the audit report. (j) The report was signed on 11th August, 2016. (k) The audit report mentions AASB 101, Section 300A of the Corporations Act. (l) In the auditors opinion the financial statements of Telstra Corporation has been done in accordance to the guidelines mentioned in the Corporations Act, 2001. The financial statements of Telstra give a fair view of the entitys financial figures and performance for the year ended 30th June 2016. Moreover, the financial statements have been made in accordance with the International Financial Reporting Standard. (m) Ernst and Young were hired for providing external audit service to the company. The transparency report pertains to the year 2015. (n) The transparency report encompasses review of the auditory proceedings and thereby provides documentary evidence regards to the degree of transparency maintained in auditing the financial statements of the company. The scope of auditory and non auditory services provided by the external audit firm is enumerated in the enumerated in the transparency report. Further, the report also seeks to present the degree of alignment between the auditory services provided with that of professional value creation. Moreover, the transparency reports also seek to evaluate whether the auditors have been able function independently without any form of explicit or implicit coercion on the part of the management. The transparency reports tend to enumerate the different auditory policies of the company in light of existing corporate and governmental laws. (o) The revenue of Ernst and Young from audit services $318,000 million which comprise of 26% of all revenue generated by the firm. The total revenue of Ernst and Young stood at $1,286,000 million. (p) The transparency report is not audited by external auditors. However, ASIC has reviewed the transparency report and provided an undisclosed report to the audit firm. 5. a) The procedure for the testing of the audit consists of the various considerations on the matter, which are significant to the year-end of the financial statements. This includes the related party transaction and the changed conditions, items related to financial statement and pronouncement related to recent accounting. Additionally the planning related to the audit data and the understanding of the different types of the internal control for the auditing and the application of the relative test before the conduction of the transaction prior to the dates given in the balance sheets. The above provided case consists of an audit risk as the transactions on the basis of the footnotes provided under the section AU 313. This section is related to the substantive test prior to the balance sheet clearly states that the test of the details for the reductions of the account like the property, equity capital, debt and investments (Pcaobus.org. 2016). The different types of the test related to consider the details of the transactions further states that the prior dates can be applied to the items such as the deferred charges, warranty reserves and clearing accounts. This shows that the prior dates in the sale documentation are not applicable in the above case and there is a considerable risk associates with the financial disclosure in case the prior dates with the sales are taken into consideration. Hence, it shows a considerable amount of audit risk. b) The different types of the risk model such as the inherent risk arises due to the material misstatement provided in the financial statement which are being caused due to the error detected as a result other than the failure of the controls. The control risk, are detected when the misstatements are due to the failure in the operation of the relevant entity controls (Griffiths 2012). The above-discussed risk falls under the category of detection risk as the various types as the auditors failed to detect the material misstatement shown in the financial statement of the company. An auditor is responsible to show the different types of the risks associated with the material misstatements in the balance sheet due to either fraud or error. The different types of the risk association in the detection risk are also due to the inherent limitations of the audit and the usage of the different types of the sampling related to the selection of the transactions (Hines et al. 2015). c) The key account affected for the account balances affected needs to be understood with he relating of the all the different types of the financial statements. The first financial statements affected due to the inclusion of the prior date in the sales invoice are the journal entries. The set of the financial entries getting affected is the ledger entries. The balance under the retained earnings under the balance sheet section is also seen to be getting affected with the inclusion of the above entry (Sadgrove 2016). d) The different types of the assertion which are to be tested in the audit report are related to the different types of the items such as: Occurrence Transactions, which are recognized in the financial statements, which have taken place, related to a particular entity. Completeness The transaction which were meant to be recognized in the financial statements Accuracy Te accuracy factor is related to recording the entities in an accurate manner. Cutoff The transaction that are recognized in the appropriate accounting period. Classification Then different types of the transactions which are included in the section of the financial statement and further shows then fairness in the reporting (Accounting-simplified.com. 2016). Conclusions: The above answers showcases the fact that regulations on the part of ASIC and ASX along with set of regulatory guidelines laid out in the Corporations Act, 2001 tends to minimize level of misrepresentation pertaining to the financial statements. Moreover, the different acts are aimed at putting responsibility in terms of the liabilities of auditors in case of certifying a report that does not contains fair representation of the entitys balance sheet figure and income statement. The different types of the policies for independent management also determine the level of the regulation of the senior management and disclosure of the relevant interests and share knowledge for employing organization in accordance with the internal policy framework. The role of auditors is imperative in maintenance of integrity in financial operations of the activities. As the risks of failing to detect material misstatements by auditors are more severe compared to the frauds committed by staff of such organ izations, thereby the purview of auditing services has to increase. References and Bibliography: Abdul Wahab, E.A., Mat Zain, M. and Abdul Rahman, R., 2015. Political connections: a threat to auditor independence?. Journal of Accounting in Emerging Economies, 5(2), pp.222-246. Accounting-simplified.com. (2016). Assertions in the Audit of Financial Statements. [online] Available at: https://accounting-simplified.com/audit/introduction/audit-assertions.html [Accessed 30 Aug. 2016]. Asic.gov.au. (2016). Our role | ASIC - Australian Securities and Investments Commission . [online] Available at: https://asic.gov.au/about-asic/what-we-do/our-role/ [Accessed 29 Aug. 2016]. Austin, R. and Smith, B., 2014. ASIC's new guidance on analyst briefings and handling confidential information. Governance Directions, 66(6), p.356. BBC News. (2016). Fifa corruption crisis: Key questions answered - BBC News. [online] Available at: https://www.bbc.com/news/world-europe-32897066 [Accessed 29 Aug. 2016].. Fifa corruption crisis: Key questions answered - BBC News. [online] Available at: https://www.bbc.com/news/world-europe-32897066 [Accessed 29 Aug. 2016]. Bromberg, L., Gilligan, G., Hedges, J. and Ramsay, I., 2016. Sanctions Imposed for Insider Trading in Australia, Canada (Ontario), Hong Kong, Singapore, New Zealand, the United Kingdom and the United States: An Empirical Study. CIFR Paper, (117). Dahl, G.B. and Lochner, L., 2012. The impact of family income on child achievement: Evidence from the earned income tax credit.The American Economic Review,102(5), pp.1927-1956. Davison, M., Monotti, A. and Wiseman, L., 2016.Australian intellectual property law. Cambridge University Press. Frecknall-Hughes, J. and McKerchar, M., 2013. Historical perspectives on the emergence of the tax profession: Australia and the UK.Austl. Tax F.,28, p.275. Gains, F.R.C., 2014. LAW SOCIETY ADVOCACY AND LAW REFORM: LATEST NEWS AND DEVELOPMENTS. Glover, S.M., Taylor, M.H. and Wu, Y.J., 2014. Closing the gap between auditor performance and regulators expectations when auditing fair value measurements: Evidence from practicing audit partners. Working paper, Brigham Young University and Case Western Reserve University. Graham, J.R., Raedy, J.S. and Shackelford, D.A., 2012. Research in accounting for income taxes.Journal of Accounting and Economics,53(1), pp.412-434. Griffiths, M.P., 2012. Risk-based auditing. Gower Publishing, Ltd.. Hines, C.S., Masli, A., Mauldin, E.G. and Peters, G.F., 2015. Board risk committees and audit pricing. Auditing: A Journal of Practice Theory, 34(4), pp.59-84. Lexicon.ft.com. (2016). Auditor Independence Definition from Financial Times Lexicon. [online] Available at: https://lexicon.ft.com/Term?term=auditor-independence [Accessed 29 Aug. 2016]. Morse, S.C. and Deutsch, R., 2016. Tax Anti-Avoidance Law in Australia and the United States. Pcaobus.org. (2016). AU 313 Substantive Tests Prior to the Balance Sheet Date . [online] Available at: https://pcaobus.org/Standards/Auditing/pages/au313.aspx [Accessed 30 Aug. 2016]. Pinto, D., Gilchrist, D. and Morgan, A., 2013. A few reflections on the current state of play for not-for-profit taxation arrangements.Taxation in Australia,48(2), p.79. Porter, B., hgartaigh, C. and Baskerville, R., 2012. Audit Expectationà ¢Ã¢â€š ¬Ã‚ Performance Gap Revisited: Evidence from New Zealand and the United Kingdom. Part 1: The Gap in New Zealand and the United Kingdom in 2008. International Journal of Auditing, 16(2), pp.101-129. Ruhnke, K. and Schmidt, M., 2014. The audit expectation gap: existence, causes, and the impact of changes. Accounting and Business Research, 44(5), pp.572-601. Sadgrove, K., 2016. The complete guide to business risk management. Routledge. Tran-Nam, B., Evans, C. and Lignier, P., 2014. Personal taxpayer compliance costs: Recent evidence from Australia.Austl. Tax F.,29, p.137.

comparing the earthquakes Essay Example

comparing the earthquakes Essay WHY WAS THE GUJARAT EARTHQUAKE MORE DESTRUCTIVE THAN THE SAN FRANCISCO EARTHQUAKE? In 1989 an earthquake hit San Francisco, on the west coast of USA, killing around 63 people. Twelve years later an earthquake hit Gujarat, in India. This time it killed approximately 20,000 people. In this report I will be comparing the two earthquakes, giving reasons why the Gujarat earthquake was so much more destructive than the one in San Francisco. An earthquake is a movement or tremor in the earths crust. Earthquakes happen all the time, but some are so weak that they cannot be felt. The San Francisco earthquake and the Gujarat earthquake were so powerful that the shaking of the ground caused the buildings to collapse and landslides to occur. In both earthquakes a lot of damage was done not Just to the buildings but to the people as well. In the San Francisco earthquake over 3000 people were injured and 13,000 people were left homeless this is a big impact but compared to the Gujarat it asnt. In the Gujarat earthquake 170. 000 people were injured and 1,000,000 were left homeless. The damage cost $4 billion in the Gujarat earthquake but in the San Francisco it cost $7 billion. This is mainly because India is a poorer country compared to the USA. We can know this because of the average wage in each country. WHY WAS THE GUJARAT EARTHQUAKE MORE DESTRUCTIVE THAN THE SAN FRANCISCO EARTHQUAKE? to the USA. We can know this because of the average wage in each country. We will write a custom essay sample on comparing the earthquakes specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on comparing the earthquakes specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on comparing the earthquakes specifically for you FOR ONLY $16.38 $13.9/page Hire Writer

NARATIVE ESSAY ABOUT A Birthday Party

NARATIVE ESSAY ABOUT A Birthday Party The Birthday PartyOn the March fourth, 2002; I was invited to a birthday party of a very close friend of mine. The beginning of the party was slow and not too much was going on at that time but there was a lot of food, which kept me entertained; there was, pizza, 6 foot tuna sub sandwiches, cake, ice cream and a bunch of other food and I ate a lot. There was really not that much meat served at the party because it was still during Lint- a religious holiday were, except for fish, Catholics stop eating meat for 40 days and 40 nights. Mandy, the beautiful birthday girl made us feel very welcome and tried to keep us entertained; she also said repeatedly, "The party will get better after dark when some people leave." The party started getting interesting, to me, when the piÂÆ'Â ±ata came out and the little kids were not allowed to swing.After the piÂÆ'Â ±ata some of the older people started leaving and two other annoying teenagers, around our age, who kept on ruining the fun also left ; so after they all left the real party started. Inside of a shed in the back yard there were flashing lights that made everything seemed slow motion and we cranked the music up loud enough to hold a concert and since the house was out in the country no one complained about anything and the police never came for D.T.P, Disturbing the Peace. Everyone danced until knees started collapsing on the floor, drunken people passed out on anything available and until the D.J was to drunk to play; the party wasn't over until about 5:00 in the morning; menudo was served the next morning.

Act Three Assignment Example | Topics and Well Written Essays - 2500 words

Act Three - Assignment Example Young Brian stands very still, men in FBI jackets moving around him until the front door opens and his mother comes through the door. He runs into her embrace, but his eyes drift up to a picture of his father, indicating that his father vanished. His father was gone. His mother had been taken as a distraction, dropped off not far from their home, but Brian’s father had simply vanished with no clues for the FBI to follow. Brian grew into man, his heart always having belonged to Sophie, but the memory of his father remained as well. Brian and Sophia planned their wedding for months. Although they have been high school sweethearts and had been together for years, their excitement about their relationship never faded. All classmates knew that their love was genuine. Sophia’s parents were well up than those of Brian; they bought her a vehicle as a birthday present. Every morning, she would pick up Brian, the love of his life, as they headed to school. Weekends were the best. They went out for ice cream, saw movies, and nurtured the love that grew between them It seemed like a dream if not a joke, as the classmates’ gossiped saying that this was stupid of you. â€Å"Life is short party with everyone, now that you are not yet married,† do you remember the critics? Welcome sweetheart. Sophia has also introduced me to her elder sisters. It was a joyous moment welcoming a young brother into the family. I think our wedding will be the best, following the fact that I have the support from my two sisters and mother. I pray to have a happy family. I wish our father was here. I cannot believe that I get to marry you. They all made fun of us and called it puppy love. We prove that early love is sweet. My mother is happy for us, as they want the best from their son and you now as her daughter, so she promised to support this wedding. Wonderful! I approached my mum privately asking her on how to treat my future husband. She was amused by the question, but it was

Marketing management Essay Example | Topics and Well Written Essays - 250 words - 1

Marketing management - Essay Example As marketing strategy, Slick has chosen to use the song â€Å"Sharp Dressed Man† to popularize its products. Slick’s products will be endorsed by the band, ZZ Top. Slick chose this band and that specific song because; its lyrics depict how a smart man should look like. In this song, ZZ Top talks about how a man puts on a silk suit, a clean shirt, a black tie, cufflinks, and new shoes (Beard, Hill, & Gibbons 1983). As the song goes, every girl likes a man who is sharp dressed. All this encompasses the essence of Slick, which is to give working class men that enviable look. It is important to know one’s competition in business (Berry, 2012). Slick’s major competitor is â€Å"Masculine†, a mall that also specializes in men’s wear. Located a few meters from Slick, Masculine puts pressure on Slick to ensure proper service delivery to customers. Unless Slick meets customer needs, then the latter may decide to leave for Masculine. Both Slick and Masculine are one-stop shopping areas, where their customers can shop for both clothes, and shoes. Just like Slick, Masculine targets middle-class working men. Both enterprises also offer matching accessories to accompany their clothes. However, one major difference between Slick and Masculine is that, Slick conducts promotions for their goods after every six months, while Masculine does not have any promotions on their products. Another difference is in service delivery, where Slick offers home deliveries for purchased products, whereas Masculine’s customers pick up the products

Bonnville Power Administration Coursework Example | Topics and Well Written Essays - 500 words

Bonnville Power Administration - Coursework Example These are paid positions with full benefits. Here is a chance to get firsthand experience in stationary engineering and get your skills tested. This also lays a concrete path for long term career growth and development in the field of stationary engineering. In the field of stationary engineering at BPA, jobs are available in Mechanical, Electrical, Civil Engineering, IT at varied levels. Entering as a trainee engineer, newcomer is eligible for consecutive promotions for two or three levels, once they complete six months intensive training successfully. Student Trainee (Electrical Engineering), GS-05: Work is regarding testing transmission lines and high-voltage phasing or working with a variety of equipment like transformers, power circuit breakers, and static capacitors. Besides above jobs in the key fields, BPA also offer jobs in the field of Information and Technology, Program Analyst, Contractor Specialist and many allied and related fields, which are important for effective execution of the various work

Influence of Developed Countries on Developing Countries

Influence of Developed Countries on Developing Countries Gabriela Gonzà ¡lez Abstract This research paper aims to demonstrate the importance of creativity in the treatment of innovation and progress in developing countries. Besides, to analyze the influence of developed countries over developing countries. On the other hand, to explain how the economic system, the educational system and the social system contribute the lack of creativity and innovation in societies with low economic resources. This research will be made through studies based on documentary research that expose the relationship between creativity and innovation. Among the aspects to be explored we have the limitations of educational system, which inhibits the progress of society because this system encourages the memorization and not in the development of creativity. Another important point to discuss is the lack of financial resources and the debt that many countries have in developing, the limited development of innovation. As a last point, the social environment that promote individualistic behavior and do not contribute to social improvement. In conclusion, this essay seeks to demonstrate the main reasons for the lack of progress in the developing countries and to propose possible solutions to encourage creativity in these countries. Keywords: Creativity, Innovation, Progress, Developing countries. What are the factors that inhibit innovation and progress in developing countries? Nowadays, creativity has a very important role in the development of innovation and progress of societies with low economic resources. However, many countries do not take into account and the development of creativity. In the case of developing countries its economic system and educational system do not do enough to encourage creativity among students. As a consequence, developing countries need to adopt the standards from developed countries to satisfy each of their needs for food, education and health. On the other hand, developing countries have a great disadvantage because of the imposed standards by developed countries, which do not allow developing countries to develop by themselves to get innovative projects or take their own ideas. In addition, Creativity is essential to innovation and progress. However, in developing countries through a series of problems caused by the economic crisis, the edu cational environment and the lack of initiative by the society. For this reason, the three main factors that inhibit the innovation and progress in developing countries are: First, the limitations of the education system. Second, the lack of economic resources. Third, the lack of enterprising attitude that prevents progress. First of all, the limitations of education system are one of the main reasons of lack of the innovation and progress in developing countries. Currently, education system in many developing countries follows educational model and the standards of developed countries due to these countries have economic stability, a great amount of resources and the necessary power to completely dominate the educational system of developing countries. On the contrary, many developing countries lack the financial resources to satisfy the needs of their citizens. However, the real problem of developing countries is the lack of creativity due to this education system inhibit that students to develop their own skill and have the initiative to develop project innovative or make a change in the society. In the article Do Schools Kill Creativity? (2006) Robinson states that system of public education around the world is a protracted process of university entrance. And the consequence is that many highly-talen ted, brilliant, creative people think theyre not, because the thing they were good at school wasnt valued (p. 1). Taking this into account, educational system hierarchizes the knowledge of students who cannot develop their creative abilities since the educational system stigmatizes everything that does not comply with its principles. In conclusion, education system inhibits the progress of society because it has more interest in academic capacities that in creative capacities. As a result, the two main limitations of educational system are: First, the lack of creativity in educative institutions. Second, standardized and traditionalist education. The lack of creativity in educative institutions One of the limitations of the educational system is the lack of creativity in schools. Because these institutions follow an educational model based on the learning of the sciences which does not take into account the creativity in the development of knowledge. However, in the documentary The Finland Phenomenon (2013) Sean Faust expounds that to learn to make use of knowledge, there should be no differences between sensory skills or academic skills because to learn you need both. On the other hand, this Model of teaching does not promote the learning of creative subjects such as music, dance or art because to obtain a title does not need to be creative. But creativity plays a very important role in the development of innovation since it allows to create things without the need to have several knowledge. For example, William Kamkwamba despite not having finished his education with the help of creativity he managed to build a windmill that helped his family to have electricity. For this reason, schools should encourage creativity because it is an essential tool for the progress of society. Standardized and traditionalist education. Another limitation of the educational system is standardized and traditional education. Because many educational institutions follow a system of teaching based on memorization and repetition. However, in agreement with the documentary The Finland Phenomenon (2013) Sean Faust expounds that it is important to understand the reasons that underlie things, to understand, to reason and to find the solutions for itself . On the other hand, this educational system foments the competitiveness and the inequality between the students. As a result, many students drop out of school and are part of the group of unemployed. On the contrary, the students who continue their studies are subject to the strict evaluation system, which is based on a series of tests that aims to qualify the performance of students and categorize them into good or bad. However, the standards of this system do not prepare students for real life and for this reason is a traditional system as it prevents students from generat ing their own ideas and develop innovative projects that help the progress of society. Second, the lack of economic resources.is another of the factors that inhibit the innovation and progress in developing countries because many developing countries have many debts with developed countries. As a result, developing countries do not have sufficient resources to develop projects or to generate ideas of change. One the main reasons for the lack of economic resources in developing countries is external debt because many of these countries need to borrow money from the most developed countries to cover their basic needs. However, In the article Economic: principles and practices (2001) Clayton explains that when debts get this large, countries have trouble even paying interest on the loans. As a result, some developing nations are on the brink of default or not repaying borrowed money (p.3).On the other hand, one of the most important factors for the development of innovative ideas is the material resource. In this case, many developing countries have a great variety of res ources such as: minerals, petroleum which are the raw material of many international industries. However, despite having the resources to sustain its economy and progress. The two main reasons for the lack of economic resources are: First, the lack of economic autonomy. Second, economic dependence. The lack of economic autonomy One of main reason for the lack of economic resources is the lack of economic autonomy due to that developing countries do not have economic resources. Therefore, developing countries do not have the economy to make their own decisions. As a result, they have to be subjected to the system of developed countries. On the other hand, developing countries lack autonomy because the level of education of the population is not appropriate. In the article Latin America Needs to Improve Access to opportunities to Win Poverty Fight(2016) Calvo explains that low education and income, as well as living in rural areas, remain important barriers for access to economic opportunities and mobility from one generation to the next In other words, developing countries may be autonomous when the index of education and resources financed allows society to be self-reliant. Economic dependence Another reason for the lack of economic resources is economic dependence due to developing countries adopted system economic of developed countries.. For this reason, developing countries cannot afford their resources because some of the resources of these countries are destined to pay the debts. As a result, the raw material of these countries contributes to the industrial development of the developed countries. Thus, limiting the opportunity to develop innovative projects in poor societies. However, In the articleA Young Tinkerer Builds a Windmill (2007) Childress explains that William Kamkwamba has built three windmills in his yard here, using blue-gum trees and bicycle parts.(p.1).Taking this into account, she shows that to innovate not is necessary to have a lot of money only is need have creativity. Third, the lack of enterprising attitude is another of the factors that inhibit the innovation and progress in developing countries because society focuses on mechanizing students so they have convergent thinking which follows social standards and does not allow students to make their own decisions and lose the ability to think freely. In the article Scientists Are More Creative than You Might Imagine (2014) Ossola states that Scientists dont usually have a reputation for being very creative. They have to adhere to the scientific method, use statistics and data, and carefully measure their results activities that would appear to take the magic out of the creative process However, taking this account currently we live in a society where knowledge is stigmatized and to be a scientist or a professional is not necessary to be creative but to accumulate information and knowledge. As a result, Developing countries limited their own progress by social stereotypes and social environment are themselves who put barriers to creativity and innovation. Social standards One of the reasons for lack of progress is social standards because society does not approve of creativity because it is supposed to violate social norms. Furthermore, social system limits children by making them adopt convergent thinking and loses their creative abilities. For example, one of the most introduced social standards states that to progress one must have a degree as an engineer or doctor. On the other hand, activities like dancing or drawing do not lead to any progress. In the documentary Do Schools Kill Creativity?(2006) Robinson states that We stigmatize mistakes. And were now running national education systems where mistakes are the worst thing you can make. And the result is that we are educating people out of their creative capacities. .In conclusion, social standards limit the development of innovation because they prevent people from constructive thinking and generate innovative projects. Social environmental Another reason for the lack of the progress is social environmental because society does not allow students to learn about what real life is like and inhibit their creativity by preventing them from having their own vision about things. In addition, society encourages competition among students. However, in the article The case for disruption in Latin Americas classrooms (2016) Sagal states that the children need different skill such as collaboration, creativity and problem-solving and character qualities like persistence, curiosity and initiative. Skilled jobs are increasingly concentrated on effectively analyzing information to solve problems. Therefore, if society fosters these skills in children in the future they will be the forerunners of development. To sum up, creativity is a determinate factor in the innovation and progress of developing countries. On the other hand, both the educational system and the economic system have been influenced by the developed countries because they have many economic resources. As a result, societies with low economic resources depend on the progress of the developed countries because they do not have the power or the economy to lead a stable life Additionally, the innovation and progress of these societies is limited by three factors; external debt, lack of creativity in the education system and lack of initiative on the part of society. As a consequence, the developing countries are disadvantaged compared to the developed countries. However, if the developing countries will implemented creativity would eliminate the barriers of innovation and societies with low resources can have a better life. Therefore, in my opinion there are three feasible solutions that would allow the development of creativ ity. I would like to explain that his topic is important because it means the fact that inhibits the progress of developing countries. In addition, it describes the disadvantages of developing countries. To conclude, I think that developing countries need to investigate more and create more because this is the way to progress and reach their economic and social objectives. References Childress, S. (2007, December). A Young Tinkerer Builds a Windmill, electrifying a  Nation. Clayton, G. (2001) Economics: Principles Practices. Retrieved from http://thuvien.due.udn.vn:8080/dspace/handle/TVDHKT/18995 Faust, S. (2011, March). Education system of Finland [Documentary]. Retrieved from https://www.youtube.com/watch?v=DnRb_PtpN7I Ossola, A. (2014). Scientists Are More Creative Than You Think. The Atlantic. Retrieved July 18, 2016, from http://www.theatlantic.com/education/archive/2014/11/the-creative- scientist/382633/ Robinson, K. (2006, February). Do schools kill creativity? [TED talk]. Retrieved from:  https://www.ted.com/talks/ken_robinson_says_schools_kill_creativity? Segal, S. (2016, May). The case for disruption in Latin Americas classroom. Retrieved from: https://www.weforum.org/agenda/2016/05/a-case-for-disruption-in-latin-america-s-classrooms/ The Work Bank (2016, October) Latin America needs to improve access to opportunities to Win Poverty Fight, Revised from: http://www.worldbank.org/en/news/press-release/2016/10/17/latin-america-needs-to-improve-access-to-opportunities-to-win-poverty-fight

Economic Growth Essay -- Economy, Neoclassical Model

According to the New Classical Model, economic growth can be achieved by accumulating labor, capital and other factors of production. Since all these factors experience diminishing marginal returns, the economy can only achieve a steady equilibrium income through continuous increase in saving and investment but at the same time reduce population growth. However, a policy that helps to increase both savings and investment but at the same time reduce population growth especially in developing countries is difficult to be implemented. This was supported by Blomstrom and Kokko (2003) who claimed that developing countries have low-income that lead to low savings with higher population growth rates. Solow (1956, 1957) also recognized the importance of technical progress as a determinant of economic growth. Technology is an exogenous factor. Per capita income cannot be increased to a steady state or even to a high level income economy unless these technologies are converged. The modern growth theory also supported the importance of technological progress because it can convert diminishing returns to increasing returns. Technological progress can take place in the form of education, training and research & development (R&D). With this, developing countries have the potential to grow faster. Blomstrom and Kokko (2003) confirmed that the potential of converting this knowledge of technology depends on the economic level of capital. The economic level of capital in a nation is determined by two sources. One is the domestic capital and the other is the foreign capital. Domestic capital is obtained through domestic savings made by the public and private sectors. Meanwhile, the foreign capital is obtained through the inflow of foreign dire... ...ious channels that create location advantage. Thus, location advantage can be obtained through channels like financial development, human capital development and environmental condition. In contrast, Chakraborty and Nunnenkamp (2008) claimed that economic growth influenced by location advantage does not necessarily bring positive impact but also negative impact to the economy. This supported the study by Li and Liu (2004). When foreign direct investment inflow takes place it can create job opportunity, economic growth, solve indebtedness and transfer technology but at the same time it can also create negative impacts like deficit in the balance of payment, pollution, economic dependence and social problems. Kugler (2005) also claimed that foreign direct investment can also affect industry negatively as well as positively, where it is usually underestimated.

Theories of a Leader

This essay will approach types of power such as; to utilize and influence others, to either reward or punish, to confirm by role of an organization, and to identify with a leader such as rock or film personality. This essay will cover six categories of power and these interlink with each other and brings a better focus on theories of power. The functions of leadership are many and varied, depending upon the basic problem with a group must deal with, and the type of leadership style in action, which is dependent on the leaders basis of power. Power, in the case of leadership, is divided into six categories, however, each can be linked with another, as they are inter-related. Expert and Informational power are concerned with skills, knowledge and information, of which the holders of such abilities, are able to utilize, to influence others ie technicians and computer personnel. Reward and Coercive power, differ from the previously mentioned, as they involve the ability to either reward or punish persons being influenced, in order to gain compliance. Legitimate power, is power which has been confirmed by the very role structure of the group or organization itself, and is accepted by all as correct and without dispute, such as in the case of the armed forces or the police force. Referent power, on the other hand, involves those being influenced, identifying with the leader, ie. rock or film personalities using their image to enter the political arena. Most leaders make use of a combination of these six types of power, depending on the leadership style used. Authoritarian leaders, for example, use a mixture of legitimate, coercive and reward powers, to dictate the policies, plans and activities of a group. In comparison, a democratic or participative leader would use mainly referent power, involving all members of the group in the decision-making process. In my research I have found that by the use of meta-analysis uncovers an approach beyond the general focus of theories of leadership. However within the central study of the term theory, I explore this article to expand this essay in more detail. According to Hunter and Hirsh (1987), most discoveries and advances in cumulative knowledge are no longer being made by those who conduct primary research studies, but by those who use meta-analysis to uncover the latent meaning of existing literature. In addition, meta-analysis provides the empirical building blocks for theory since results derived from such analyses indicate what needs to be explained by theory. Although meta-analysis has been criticized for not directly generating theory (Guzzo, Jackson &mKatzell, 1987), the results of meta-analyses are indispensable for theory construction, keeping in mind that theory development is a creative process distinct from cumulating results across studies. Nevertheless, there is no reason that meta-analysis cannot deal with theory and explanation as well as with description. In fact, efforts sponsored by the Russell Sage Foundation's meta-analysis project are designed to move meta-analytic techniques beyond the descriptive into the theory development domain (Russell Sage Foundation, 1991). Leadership itself, has been accompanied throughout time, by numerous theories, all claiming to answer the question, Are leaders born or made? Those who accept the verdict, that leaders are born and not made, maintain, â€Å"†¦ that there are certain inborn qualities such as initiative, courage, intelligence and humour, which altogether pre-destine a man to be a leader †¦ the essential pattern is given at birth† (Adler, 1991, p. 4) Two leadership theories which concentrate on this point, are the Great man/great woman and theTrait theories. The great man/great woman theory, accordingly to Wrightsman, involves its followers believing that major events, both nationally and internationally, are influenced by those persons in power. â€Å"A sudden act by a great man could, according to this theory, change the fate of the nation† (Wrightsman, 1977, p. 638) The trait theory expands further on this conjecture, by concentrating on the personal characteristics of the leader. The theory, which until the mid-1940s formed the basis of most leadership research, cited traits believed to be characteristic of leaders, the list of which grew in length over the years, to include all manner of physical, personality and cognitive factors, including height, intelligence and communication skills. However, few traits emerged to conclusively differentiate leaders from non-leaders. The traits an individual has may, increase the probability that a person will become a leader, though whether such leadership is guaranteed, is uncertain. Nevertheless, it can be seen to be true that some people are more likely than others to assume leadership positions. â€Å"The research on trait theories of leadership has shown that many other factors are important in determining leader success, and that not everyone who possesses these traits will be a leader† (Adler, 1991, p. 267) As interest in the trait approach to leadership declined, researchers focused their attention on the leader's actions rather than their attributes, which led to the emergence of the behaviourist theories. The most widely publicized exponent of this approach was Robert Blake and Jane Mouton's Managerial Grid, which attempted to explain that there was one best style of leadership, by various combinations of two factors regarding a concern for production and people. Due to the disillusionment with the fore-mentioned trait theory, the situational approach suggested that the traits required of a leader differed, according to varying situations. The situational approach, which predominated in the 1950s, held that whether a given person became a leader of a group, had nothing to do with his/her personality, but had everything to do with such factors as the flow of events and circumstances surrounding a group. To put it simply, the leader was a person who was in the right place at the right time. â€Å"Rather than a great man causing a great event to happen, the situational approach claims that great events are the product of historical forces that are gong to happen hether specific leaders are present or not † (Adair, 1984, p. 8) Unfortunately, this theory still didn't answer, why one member of a group emerged as the leader, rather than another, or why one particular leader proved to be a better leader in some situations than another. The emergence of a related theory, the interactionist approach, attempted to explain the existing anomalies. The interactionist theory proposed that both the characteristics of the individual, and the situation in which the group found itself, accounted for whom would become the leader. Resulting from this theory, was the view that leaders are both born and made, due to the leader requiring certain abilities and skill, but as the situation and the needs of the group changed, so to the person acceptable as leader changed. Developing such abilities and skills requires no position of authority but does require commitment to self, commitment to the organization and its employees, action, and thoughtful, on-going self-assessment. Such a program of personal development, ideally begun as a part of the formal education process, can assist significantly in learning how to influence others, up, down, and across the organization. Thus, one can learn how to become what Cohen (1990) has called an â€Å"uncrowned leader,† a person who exerts influence over others but lacks positional authority. It takes many hours of research to provide a strong research paper however this essay touches only the surface. The functions of a Leader are many and varied. It's hard to say the one theory is better than the other because as my research shows, it takes more than one approach to accomplish a task with overall proficiency. From upper management to the first line supervisor, each situation, each environment, and each group of people requires a different approach. In some circumstances a leader is considered to be a leader only if he/she knows the organizational structure well and knows how to execute a plan. By reviewing the theories of the previously mentioned theories, the term leader doesn't necessarily mean he/she is a leader. Therefore a leader can have more than one meaning and the theories of leadership may need to be more refined. However this essay focuses more on the standard process of identification of a leader and the theories that identify such. If a leader is trainable to understand that different approaches are needed for different situations, then a leader can succeed. However if a born leader hasn't had the exposure to an array of situations, then he/she will not be effective. It stands to reason regarding a leader is born is that a leader may be born but if that person isn't exposed to an array to various situations and factors, then that born leader will become a failure. However I agree a leader may be born and a follower is a follower but a follower can influence other followers especially if that person has charisma such as wiser experience, cultured education, and mature personality. So a leader may be born but a follower by my own experience I've seen followers who are leaders and assist leaders to perform their best. Therefore sometimes a leader and follower can complement each other thus strengthening the environment and or situation. Therefore my own observations show that there are ranks of leaders and ranks of followers. Each side of the line can have leadership. Theories are many but now that we have all these theories, it may appear that we need more research to better recognize the leaders not recognized by the standard approach.

What to Do If a College Class Is Full

What to Do If a College Class Is Full The class you need to take to make progress toward your degree has already filled up. You have to get in, but what can you do if theres no room when you register? While this situation is incredibly frustrating (and all too common), there are a few steps you can take to either get into the class or find an alternate solution. 6 Steps to Take Next When a College Class Is Full Get on the waitlist as soon as possible. You can often do this at registration and the sooner you get on the list, the higher your ranking will be.Talk to the professor. Do you need the class for graduation? Are there other circumstances that might help you plead your case? Talk to the professors during their office hours to see if theres anything that can be done.Talk to the registrar. If you desperately need to get into a class for graduation or financial reasons, talk to the registrars office. They might be able to make an exception if the professor also approves letting you into the class.Explore other options and alternatives. Sign up for at least one other class that you can take in place of your desired class, just in case you cant get in. The last thing you need is to be blocked out from all of the good classes because you thought youd get into your wait-listed one.Have a backup plan ready to go if you cant get in. Can you take the same course online? With another professor? At another campus nearby? Over the summer? Being creative about your options can help you find a solution in case your original plan doesnt work out. Most Importantly, Dont Panic It may seem like the end of the world, but rest assured that its not. When you discover that one of your most essential course requirements is full, sit down and take a deep breath. Review your options. Read through the advice given above one more time because you may have missed an important detail that can help.  Get out your notebook and make a to-do list. Writing down the steps you need to take, the exact people you need to talk to, and your points for why  you  should be in that class will help clear your head.Go out and pursue it. Take the action needed to put your plan in place and work each of these steps simultaneously. If one approach backfires, you will already have the others in progress or know what you need to do to start the next one.Be professional. Whoever you speak (or plead) with to try and get in that class, do so in an adult manner. Its very easy to be overly emotional when youre frustrated, but thats not the best approach to sweet talking professors and registrars. Whining will not get you anywhere, pleading your case with facts and a professional demeanor will.

Summary For The Myths of American Exceptionalism Essay Example

Summary For The Myths of American Exceptionalism Essay Example Summary For The Myths of American Exceptionalism Paper Summary For The Myths of American Exceptionalism Paper The author begins with famous quote lines as a clear example of American exceptionalness and the idealistic descriptions of the united States, especially over the last two centuries. As the author notes how American exceptionalness is similar to other nations that claimed exceptionalness as well. He clears out there are no differences between them when it comes to their self-assertion conduct, many which resulted in a righteous attitude that leads them to think they are positive role models to the world. A believe that makes the Americans with their privileges and unique qualities to think they are superior than others, when In fact they are no less different. In the first myth, many examples laid on surface of the superior belief, starting from the British than the French, than ending with Portugal and the Soviet Union. They all rewarded their virtues and qualities with uniqueness, it is the same belief that made Americans point out their exceptionalness. They are a reflection of the past great powers that did the same, which makes it a common thing more than special, to point out what you believe is exceptional. Tied States places their virtues and morals forward to the world, giving a clear righteous image of them, especially as a country that claims to know more right than wrong. Conducting more claims that America has a respectful behavior, far better than other countries or nations, but the high statistics of civilians death caused by the United States, and the many wars that h ad been involved with over the years, which resulted in more damage, only to conclude that the united States are far from perfect when It comes to behavior. In myth 3, The united States magnifies their special genius to the world, t is undeniable their great many success over the years, and the position it earned due to its capability to being creative, Which also again led America to think their exceptional for that special genius, But that genius was not the only factor that helped America gain its global position, Its also due to the fact that America had many fortune opportunities and natural resources, that all contributed to Americas success as well. As much as the united States would like to believe of their positive global position In the world, but In reality It contradicts many false political actions that America had made. The forth myth clears how blinded Americans are to those actions. One giving statement or speech from the government washes the reality off the minds of many Americans. So whatever knowledge or ideals they think they have about America will usually end up being false, And the constant Justifications of those false actions and weak spots of America, Keeps some of those Americans blind from the truth, and that truth Is America Is not responsible for most of the good In the world, That exact truth had been proven when united States invaded Iraq, and The US troops who expected greetings, got more than what they expected. The last myth the author analysis the delusional divine plan for America, and how their destiny is affected by god with a given mission. An over confident country is the only one that will go In such ways of thinking divinity, and with such confidence it Is dangerous. America might presume those beliefs to think no deceivers or mistakes can fall Into Americas Lovely Nilsson, Leaving America to De no Deterrent Trot toner great powers that claimed virtuousness and divinity. Finally the author gives Americans a chance to view the whole American Exceptionalness with much more open eyes.

International Trade Innovations Essay Example | Topics and Well Written Essays - 3000 words

International Trade Innovations - Essay Example Engine of long-run economic growth. This means that a nation's economic prosperity depends in large part on its capacity for innovation, for which technological innovation is a key driver in advanced countries Empirical evidence, however, suggests that some industries are more innovative than others. Hence, it would be desirable from a public policy perspective to identify and promote sectors displaying both a high innovation rate and, in an increasingly competitive international economy, a high degree of international competitiveness (Henisz, 2000). It is frequently argued that the high-tech industry sectors, in contrast to low-tech sectors, satisfy both conditions, with the implication that public policy should be directed to enhancing the performance of high-tech sectors. As the author of a recent OECD working paper has put it, ' technology is a key factor in enhancing growth and competitiveness in business'. Furthermore, he argues that: indicators of technological characteristics. ... other sectors. If this is true, both government policy and firm strategy need to be informed by reliable indicators of technological characteristics. Again, in Hatzichronoglou's words, 'in order to analyze the impact of technology on industrial performance, it is important to be able to identify those industries and products which are most technology-intensive, through criteria allowing the construction of special internationally harmonized classifications'. This approach lift up at least two important issues. The first is whether such classifications can be meaningfully constructed given both the intractability of the concepts involved and difficulties in data collection. A second issue is the basic assumption that policy emphasis should be placed on technology-intensive industries because they have a greater impact on growth. In this paper, we argue that while it may be possible to construct indices of technological intensity that are useful for some purposes, the ones that are currently in use and proposed are of limited scope. This is a reflection of the technicalities involved in formulating and operationalising the indices, but it also reflects problems in the underlying premise, namely that technology-intensive sectors are more growth-inducing than low-tech sectors. Innovation Rate Further insight into the conditions defining high- (or low-) tech industries could be aimed by taking into account the rate of technological innovation, defined as the proportion of businesses undertaking technological innovation in a given industry. To illustrate this approach, the following typical description is useful: A high-technology industry is, loosely speaking, an industry in which the success of companies depends largely on their ability to keep up with rapid innovation

What Have I Learned during the Entrepreneurship Programme and How Can Essay

What Have I Learned during the Entrepreneurship Programme and How Can I Apply this in My Future Career - Essay Example The path-breaking study is basically based on broad field research, some work experience and academic study (Chesbrough, 2003). There are many well known companies who have adopted this approach and got facilitated from it. This open innovation is creating a great opportunity for all the entrepreneurs so that they can learn through their experience and apply all those profit-making strategies in their own business so that they can expand their business and acquire maximum profit. This also led to the enhancement of entrepreneurship since it shows how one man can contribute to the industry and how one individual can show creativity on their own. Open Innovation basically show how organizations can utilize the business model in order to identify a more distinguished role of research and development in the world containing abundant information, make advancement in their existing business, enhanced management and access of intellectual property, and develop their business for future (Mor en, 2010). Companies belongs to different industries must transform in a way similar to the one in which they have commercialize knowledge, and with this open innovation, entrepreneurs can unfasten the hidden economic value with respect to ideas as well as technologies. Who an entrepreneur is? An entrepreneur is actually a person who expands or creates new ideas while taking the risk of establishing a new enterprise in order to produce products and services which satisfy the need of the customers. (Pett, 2006). Every entrepreneur is a business person however; every business persons are not at all entrepreneurs. Let take a look at why every business person cannot be or are not an entrepreneur. Take an example from our daily life, an old woman who sits near your home and sells the same kind of food with same taste and quantity, even the quality remains the same. Her so-called stall remains unchanged which does not at all bring any change in her living standard not even for some apprec iable extent.