Demand and Supply of Oil Case Study Example | Topics and Well Written Essays - 500 words

Demand and Supply of Oil - Case Study Example As with any commodity, pricing is determined by demand-supply dynamics, with the market price being set where demand levels equal supply levels (Rowling, 2014). As basic economics would have it, the price would go up if there is an excess supply of the commodity. Same is the case of oil in international markets. The United States, once the highest importer of oil, is now sitting on the largest oil reserves in the world to such a great extent that it has become an oil exporter itself. With so much excess supply and lack of demand, oil prices were bound to face an upward trajectory. Â  What is rather more interesting is that OPEC countries supply around 40% of the world’s oil output. Rather than curbing output in a bid to push up declining prices, Saudi Arabia, the largest contributor of oil within the OPEC, has pleaded to maintain its output levels at the same levels instead of decreasing them in a bid to capture market share. According to statistics, if production continues at the same levels from OPEC and other oil producing countries, then this would translate into a major stock-pile of oil in the first half of the calendar year 2015 to 2 million barrels of oil per day (Rowling, 2014). Again if one understands basic economics, this could mean a further slash in oil prices in the upcoming year. Â  According to my own opinion, there needs to be a proper interaction between real demand and real supply so that an efficient price of oil could be determined. At the current levels where oil prices are going down to new lows in recent times, there is a possibility of consumers over consuming the commodity when they don’t even need to. What needs to be understood here is that oil is a depleting commodity and it has finite reserves. One day these reserves would run out and we would be left with no alternative.

Video games are good Essay Example for Free

Video games are good Essay In this 21st generation, video games are one of the most entertaining and one of the most popular ways to enjoy time. Video games are electronic human interactive games, which can be played in different types of consoles in a variety of ways. Have you ever thought about video games being beneficial? Or not just something which helps pass time or something that is a bad addiction? Video games are so popular in today’s world that, the video game business earns billions of dollars on releasing a game or a type of console. In 2010 the play station brand hit 155 million units sales of their ever so famous console, â€Å"the play station 2,† which is also known as the â€Å"PS2. † Video games are not just an entertainment but, it has turned into something much bigger, it has turned into a business and also a living for some people. Many people state that video games are bad for us, like there is a topic posted in debate. org, where people who think video games are not of any good, and surprisingly to my benefits of my opinion 67% of the people who rated the discussion disliked it! Many people also have related violent behavior to violent games, like the tragic massacre that took place on the December 12th 2012, when 20 year old Adam Lanza fatally shot 20 children and 6 adult staffs, in Sandy Hook Elementary School. Many have said that, Violent video games was one of the main motivations for Adam’s violent act, A TV and a radio host, named Glen beck stated that the, â€Å"Sandy Hook Massacre,† was caused by video games. He also states that, â€Å"video games are a gateway drug for our kids and instead of a high, they get numbness, they get an indifferent heart and a mind that cannot tell the difference between fiction and reality. † I strongly disagree with his point; there was violence before video games. I believe the Sandy Hook murderer was a mentally ill and an unstable teenager. If video games was the case, there are a lot of children play violent video games, like the first person shooting game â€Å"Call of Duty Black Ops II,† is a violent war game and the game is really realistic and it is brutal. The game went to gross $ 1 Billion in the first 15 days of availability. With so many people playing violent games there should have more than at least 50 massacres yearly according to my calculation. I mean if a normal human being plays a violent video game for maybe even more than 12 hours a week, it wont motivate or trigger us to go kill someone, you have to have some kind of a mental illness or a violent angst, to go fling around guns in public. Video games are not harmful for someone, and many parents and critics are very judgmental about it, as many kids are not properly guided and supervised while playing video games. Video games, are surely fun but an individual should be self discipline and even the parents should be able to handle and guide their children on how much they play their video games. An article by Health Central also suggests that video games are bad. It tells the readers that it makes people un-social, obese, and also it causes them to have bad grades, aren’t these reasons all about self-disciplinary? Are video games the main cause of this? Video Games are even in fact educational, like the game Civil-war, teaches us and gives us like a first hand experience about the American civil war fought in 1861. It also gives out facts and important dates about the civil war in the loading screen. Maybe even someone who has a hard time making friends, get along with others, while playing video games or them having the same interest in video games. â€Å"A growing body of university research suggests that gaming improves creativity, perception and also decision making† (Hotz par. 1). Experts of health central said that, video games causes people to be obese, anti-social and perform bad in schools, but I believe it is the fault of those gamers who get to addictive to video game and their lack of self-discipline. Video games cannot be blamed for those reasons. If we put it like that anything we do excessively is harm to us. Playing video games is not a bad thing at all; it instead helps us pass time more entertainingly and has benefits to it as well. A research showed that people who played video games made better decisions 25% faster than those who did not play video games. A research by University of York aimed to discover if video games improver hand-eye coordination. † In order to discover this, they compared the brain activity of participants who played video games for at least 4 hours a week with the results from participants who did not play video games. The study showed that the participants who did not play video games relied mostly on a part of the brain that controls hand eye coordination. In order to complete the games, the men who were not accustomed to playing video games had to focus a large amount of mental energy on coordinating what they were seeing on the screen with the physical actions they were making on the controller. Besides hand eye co-ordination, active games like the, â€Å"Nintendo Wii has promoted where you have to do things physically which has proved to improve your physicality and give you enough exercise† (Wittman par. 5). As I mentioned before video games can be a way of living for someone nowadays, an article by Kyle Russell states that, â€Å"over 60 gamers earn more than 100,000 US dollar without counting the sponsorship deals and streaming their practice games. † Even I have experinced how drastically video games improve you reactions and hand eye cordination. When I was in middle school, we had to play indoor games during the winter as it used to be really cold outside to play soccer, which was really sad for me as I love soccer and I kind of didn’t like to play indoor game. We were made to play table-tennis, and I used to hate it as I was really not that good. Around that time was when I started playing video games and as soon as that, after two months or so, I really felt myself improving in table-tennis drastically and without practice. My reactions were really fast, I later then realized how video games had a big role in that. Video games have many benefirts, In an article by Drew Guarini posted in the Huff post says â€Å"a study by a group of Italian researchers proved that video games helps dyslexic children read better. Many may still argue that, even after all these benefits video games are not worth its cost, but if we look at the long run it might save us a lot of money, a anti video game mom, Jo Ashiline also re-considered getting a video game, she said, â€Å"This dilemma led me this Christmas to consider getting a video game system, at least a Wii that we could all play together. The kids pointed out that I spent $82 the last time we all went bowling, and with the Wii, we could bowl at home for free (Ashline, par. 7). Ultimately, it is apparent that video games are a lot more beneficial than many people think, video games have had its prejudices created by all the critics those have very invalid reasoning like how some said, Video games are the reason for mass massacre, or even maybe how video games causes bad-grades and obesity. Those reasons are not because of the video game, but because of lack of supervision and self-disciplinary. I think that Video games are a wonderful way to spend time while having many benefits to everyone. For the old folks who may think that video games are only for the younger one, you may want to re-consider. A study this year conducted by University of Iowa found out that, Playing brain-teasing game for just two hours a week may help slow the degree of mental decay associated with the natural aging process. (Guarini D, par. 10). Work Cited FYI: Video Game Statistics by the Entertainment Software Association. Critical Gaming Project. Word Press, n.d. Web. 18 Nov. 2013. Are Video Games Bad for Children? The Premier Online Debate Website. N. p. , n. d. Web. 18 Nov. 2013. Sandy hook shoting article Sandy Hook Shooter Motivated by Violent Video Games, Norway Massacre (Report). The Hollywood Reporter. N. p. , 18 Feb. 2013. Web. 19 Nov. 2013. Feraligatr, Caz. Glenn Beck: Video Games Are A Drug That Killed 28 People! Blog by CazFeraligatr IGN. IGN. N. p. , 22 Feb. 2013. Web. 20 Nov. 2013. Main Menu. Dependable Video Games. N. p. , 19 Sept. 2012. Web. 18 Nov. 2013. Video Gaming Increases Physical Activity. The Journal of Extension (JOE). Journal of Extension, n. d. Web. 20 Nov. 2013. Russel, Kyle. The Highest-Paid Professional Video Gamers In The World. Web log post. Business Insider. N. p. , n. d. Web. 20 Nov. 2013. Guarini, Drew. 9 Ways Video Games Can Actually Be Good For You. The Huffington Post. TheHuffingtonPost. com, 07 Nov. 2013. Web. 18 Nov. 2013. Work Cited Ashline, Jo. Video Games Were Invented by the Devil OC Moms: The Mom Blog : The Orange County Register. OC Moms: The Mom Blog. N. p. , 27 Dec. 2009. Web. 20 Nov. 2013.

Motivation In The Case Of Technocraft Commerce Essay

Motivation In The Case Of Technocraft Commerce Essay Motivation is a reflection of the reasons why people do things. All behavior has a specific purpose (often several). Motivation can be considered to compromise an individuals effort, persistence and the direction of that effort. It is the degree to which an individual wants and chooses to engage in certain specified behavior. Notably in case study, Technocraft , there was an intrinsic motivation, employees were just motivated by salary, promotion, condition of work etc. It focuses primarily on motivation of the individual in the workplace. It explores the influence of organizational change, communication and conflict on personal motivation. Additionally, concepts such as intrinsic, extrinsic, rewards, personal needs and environmental stimulation are discussed.Thus, motivation had some affect in employees but they are negatively influenced in terms of different factors of an organization. Determination: Construction and culture of the formal organization: The construction or the structure of Technocraft contemplates management model with its functional relationships. The workers in this organization were closely prescribed or were in possession, or we can rather say negative command. This is a mechanistic organization and recurring in nature. According to Drennan 1992-93 culture is how things are done around here. It is what typical of the organization, the habits prevailing attitudes, the grown up pattern of accepted and expected behavior. Like wise, in Technocraft, it matches to role culture because it has gained a combination of size, departmentalization and ordering of activities. Generally, Mr. George, the chairman of the company can be taken as an example that was harsh and gives orders. The culture of the organization needs to be given, importance as the opportunities to learn. 4.2 Management and leadership style: Management is the process of getting things done effectively and efficiently through other people so as in their company. Mr. George Newell, the company chairman managed or organized his employees in a different way. It can be matched with MCGregors theory X because most of the employees did not enjoyed working for Technocraft and just motivated by money but the workers can be categorized or stereotyped in intrinsic motivation ready for challenging job, appreciation and recognition. 4.3 characters: 4.3.1 George Newell: He is the chairman of the company. He views his workers in a negative way and he doesnt recognize his employees. He is an exploitative- autocratic ruler. It matches with contingency style of leadership style rather than trait theory because he does not possess charismatic behavior, self-confidence etc. as we can see he brought Helen, management consultant to solve the problem. Employees were discouraged by his behavior because he promised to give reward for their heroic deeds and efforts but he felt proud by distributing the t- shirts to all the employees. He did not possess a degree of power, influence, responsibility and accountability which should be used in the pursuit of effective leadership performance. One of the Georges problems in the company was high labor turnover and his opinion was that the women had prompted this. As we know, motivation influences in individuals to succeed but he judges performances on the activities of the organization. Likewise, he reprimanded the employees who were late from the lunch, he could have warned them, may be he used this coercive power and this showed the low morale, seniority and distances. He also did the job rotation because he was not satisfied by the Maggies efforts, (the wiring department supervisor). 4.3.2 Helen Mckiernan: (management consultant) She was a management consultant and a very calm nature person. She was brought by the companys chairman to provide a solution of the problem. She mainly focused on the nature of the wiring job because the recruitment procedures were unduly lax. Helen kept in mind that the reason for the job satisfaction might be through informal situations and social side of the work. She analyzed the likes and dislikes of the workers and she found that the chairman was completely wrong about the labor turnover. 4.3.3 Elena and Veronica: (wirers) Both of them were wirers in Technocraft. They had a problem due to inexperience and fear of making a mistake and the problem caused directly from their slow work rate and they need some experienced wirers to correct them. In my opinion, they are in need of on-the job training. 4.3.4 Maggie Francis: (supervisor) Maggie Francis, the wiring department supervisor, who was given responsibility for bringing two women, i.e: Elen and Veronica, up to speed within a specific time. Maggies leadership style fits or matches with her supervising role. She was more understanding in nature. As a theme throughout this book of organization behavior, by Ian Brooks, organization change is particularly worthy of consideration in any discussion of leadership and it matches with consideration category of Blake and Mounton 1964, she was defensive and she was in a job rotation by the company chairman in place of Robert because she was too soft to the employees. 4.3.5. Robert Houlden 🙠 Line Manager) On the basis of Blake and Mounton 1964, managerial grid, in this study there was a concern for production, autocratic and task oriented. He was appointed by chairman to sort out the shirkers in the hope of raising productivity in upcoming future. 4.4 Perception: George style of leadership was like autocratic towards the women. It is some what like coercive power. Although the staff possesses no confidence in their ability, they are in need of a positive motivation. New comers i.e.: Elen and Veronica were in a learning phase. There was no respect for Maggies job as well as womens in the work place. The women were reprimanded by the chairman who could be done in a polite way as well. 4.5 Motivation and shopfloor: The management of conflict in organizations affects the motivation of individuals and groups. According to Schmidt (1974), following empirical research conducted among management executions in USA, revealed both positive and negative effects of conflict. Maggies as a supervisor, the autocratic style of had adverse affect due to the sudden change in leadership.i.e.from wiring department supervisor to packing. Research indicates that conflict can stimulate creative thinking and can inspire people to confront long term problem and explore new approaches. It may also encourage reflection and help people clarify their views and heighten their interest in the task at hand and also test peoples abilities. However, negative effects of conflict can lead to dissatisfaction, demotivation and reduced performance. Schmidt (1974) found that certain people felt defeated by conflict and the consequences would be contactless and leads to suspicion. 5.0 Recommendation: What I can recommend is that the culture of the organization needs to be improved. Combining the two incident, there is a change in the level of output. The women were believed that they are matched with VH Vroom expectancy theory. In the 1st incident, there was a change in job design to fasten up the speed of the employees. He could have said in a polite way to the workers after they returned from their lunch break. This can be a good style of autocratic leader, and some how matches with McGregors X theory and coercive power as well. Finally, in my point of view, the management should be more systematic so that the workers would perform their activities more efficiently and effectively. 5.1 Reconstructing the work force: Reconstructing the shop floor is done for encouraging competition between workers. A group leader role could motivate the work force but Helen, management consultant investigated number of workers about the likes and dislikes of the company and the answers was negative management. So , the managerial practice at technocraft convinced her that the shop floor labor turnover was not only incorrect but actually a part of the problem. However, for better number of employees in the work place, the team should be encouraged and motivated. 5.2 Leadership Style: As in the technocraft everyones complain is towards management. George needs to enhance the considerations of the worker and to think of his employees. I think he lacks the ability to influence a group towards achieving certain objectives. Leadership and responsibility of mangagement should be open and consultative style. It should be implemented on the workers so that they would be motivated by the help of different programme. According to continuum tunnerbaum and Schmidt leadership style there should not tell and sells but there consults and joins in a democratic way. In the company, it matches with autocratic style which sub-ordinates could not use their respective freedom. 5.3 motivating the work force: George should bear in mind or adopt a consultative style which motivates its members, aiming the specific goals. The first two level of needs, salary and job security should be fulfilled by the management inorder to motivate the workforce. It would be the informal group which already exists. It also depends upon Georges perception for the feedback and support. In his opinion, unemployment are well below national average and many women are living with husbands who earned a decent living wage or salary. According to Maslow hierarchical needs, the lower level needs should take precedent, if they were not fulfilled. However, a link between job satisfaction and absenteeism, staff turnover, and the incidence both physical and mental health problems (Schneider, 1984). Furthermore, the model is highly ethnocentric. Finally, applying their theory to the workplace is fraught with difficulties although this theory is intended to be managerial or organizational tool. 5.4 Job Design: According to Herzberg, two factor theory, one of situation matches with the one theory among two:i.e; hygiene and motivators, which is hygiene factors. These methods should help in to participate in decision making. Herzbergs vertical theory has two sides: Dissatisfaction and 2. Extreme satisfaction with the environment, job and the work place. Like wise, the workers at Technocraft also faced the extreme dissatisfaction towards their job and relationship with supervisor was worse. Organization failed to provide adequate hygiene factors which as results, high level of conflict, absenteeism, labor turnover and low general morale was emerged. 5.5 Rewards: There is a difference in the distribution of rewards and the people differ due to the perception. The first is to discover the activities of the shopfloor staff. If there are specific objectives then Management must give response or feedback for the work done. During the productivity drive, George established a program called employee- morale boosting and the program succeeded. Thus, he promised to the employees that they would be rewarded for their efforts but the employees were distressed because there was no bonus payment except few t-shirts with the company logo. As a result, many of the employees resigned and this was the problem aroused in Technocraft which is labor turnover.it also can be compared with goal setting theory of locke. He firstly concentrated on objectives and he doesnt give the rewards. By the behavior of George what we can draw the outline is that he was in lack of morale, unsuitable in the post and the harsh leader. 6.0 Conclusion: In every change effort and programme someone loses or gains. Attention should be pursued for all gainers and losers as well. All change processes and program requires whole -hearted organization, commitment, support with adequate level of resource and time. They key issue for organization to adopt attitudes of flexibility, dynamism, responsiveness and positiveness and the drive is to maximize output and change in resource. So, I have compared this company Technocraft in many different theories. Likewise, in Technocraft, power is ultimately in the hand of single person. Chairman appreciates and consults with the problem of the company. A well planned theme that has been drawn up is loyalty and dedication by the employees and the autocracy by the top level of management. Above all, the role of managers and supervisors must change from the operation of systems and procedures to the development of expertise skills, knowledge and qualities in their people.

Essay --

Consumerism, the key tool of social manipulation is considered a child of globalization and represents a set of beliefs, and values that owning material goods is placed very high on the list of priorities. Earlier value system through which we concluded what people really need in life is slowly replaced by the advertisements that people dictate what is fashionable . We no longer know who lives the way he wants to live , and who lives according to " rules " and norms of what is proclaimed in the media . Without adequate personal value system , the question is how our needs may indeed be real and not subject to consumerism . Simply put , today's society has become a consumer society in which no one is happy and by spending money people are trying to fill their lives with joy , a feeling that they are strong , powerful and lead their life the way they want . Is it really so , or is it all a well organised illusion in the minds of marketing professionals ? Consumerism became a force in only a few decades. It started to move the social and economic development of the world , and the only question is in which direction . When talking about this concept , it is certainly not new , but dates back to ancient Mesopotamia , and the first hint of today's practices come in the seventeenth and eighteenth centuries in Britain, where the middle class wants to copy their idols at royal functions. Buying only out of necessity becames not important. More important is to have the things that the rich one has. Consumerism has its roots also in the British society of the time after war. Shopping and enjoying financial freedom was at that time in Britain a relaxation for men who returned from the battlefield . The thought they deserve to make up for los... ...British people. Routine that teaches that it is not important to know , but it's important to spend. People spend seeking acceptance in the community, knowing that society rejects those who do not want or do not have nothing to spend. Thus , it appears that the thesis " money can buy happiness " is slowly becoming a reality . This is supported by the fact that all the greater importance is placed on material goods and the value system of the people changed . It is interesting , however, that although obsessed with consumerism and supplied with money , the British are not the happiest people in the world . Statistics show that the happiest people are in Pakistan , Bangladesh , Vietanam and even Kosovo, where everyone has the time for their families and themselves. However, the modern man is not worth as much as his knowledge, but as much as he has and he can spend.

What Is It Like to Be Blind?

There are thousands of blind people in our country, and there are hundreds of thousands of them around the world. One can simply close his eyes in order to imagine what it is like to be blind. Such experiment is really the best way to understand how blind people feel and what they have to face in their daily life. The feelings I could experience after spending one hour with closed eyes touched me deeply. For some first minutes I was able only to make some slow and awkward movements, because I was quite scared of coming against the things around me.Certainly, I got used to the environment soon, but it was still difficult to cope with the situation and decide, what to do. Then, I got a new angle on the issue. What about career, accomplishments, love, success, or hope? Suddenly, I realized how helpless and apathetic the blind can feel. I tried to walk around my house and even came out of it, but I constantly felt stressed and very uncomfortable. I could experience how hard it must be fo r blind people to perform their daily routines without meaningful help of a sighted guide.Besides, it became clear to me that it takes more time and efforts of the blind to perform simple actions and operations, like turning on the oven or looking for the remote control, etc. Finally, I understood that, actually, the blind can not even do and enjoy many absolutely usual things we do and enjoy every day. They can not fully enjoy TV shows and movies like we can, can not read or surf Internet as fast as we can, and so on. Certainly, nowadays there are many technological solutions, which help blind people to read and write, or use computer, or stay organized, but it is still very complicated, I suppose.Therefore, this experiment helped me to experience some difficulties of the blind and taste the effects of failures they can face. Certainly, within the time such people get adapted to their disability and learn what they can and what they can not do. But this is really hard, and I only w ish all blind people to be strong, find their support and inspiration, and always use the power of their imagination in order to picture this world in bright and beautiful colors. Bibliography: †¢ â€Å"What Is It Like to Be Blind? † Royal Institute for Deaf and Blind Chldren. Destra Business. 2007. 23 May 2007 .

Free Essays on Adolecent Depression

Adolescent depression, often known as â€Å"the under diagnosed disease† is a disease that afflicts the human psyche in such a way that the afflicted act and react abnormally toward others and themselves. Therefore it comes to no surprise to discover that adolescent depression is strongly linked to teen suicide. It is now responsible for more deaths in youth aged 15 to 19 than cardiovascular disease or cancer (Blackman 103). Despite this increased suicide rate, depression in this age group is greatly under diagnosed and leads to serious difficulties in school, work and personal lives. Mood disorders in children are very common, so the unanswered question remains; when should an adolescent with be considered clinically depressed? Many say the reason why depression is often over looked in children and teenagers are because "children are not always able to express how they feel (Brown 197)." Sometimes the symptoms of mood disorders take on different forms in children than in adults. Being a teenager is a time of emotional turmoil, mood swings, and gloomy thoughts. It is also a time of rebellion and experimentation. The "challenge is to identify depressive symptoms which may be superimposed on the backdrop of a more transient, but expected, developmental storm (Blacken 257).† Diagnosing adolescent depression should not lye only in the doctors’ hands but should be aided with parents, teachers and anyone who interacts with the child on a daily basis. Unlike adult depression, symptoms of youth depression are often masked. Instead of expressing sadness, teenagers may express boredom and irritability, or may choose to engage in risky behaviors (Oster Brown 107) and suicide (Blackman, 134). All of which can hide depressive symptoms.... Free Essays on Adolecent Depression Free Essays on Adolecent Depression Adolescent depression, often known as â€Å"the under diagnosed disease† is a disease that afflicts the human psyche in such a way that the afflicted act and react abnormally toward others and themselves. Therefore it comes to no surprise to discover that adolescent depression is strongly linked to teen suicide. It is now responsible for more deaths in youth aged 15 to 19 than cardiovascular disease or cancer (Blackman 103). Despite this increased suicide rate, depression in this age group is greatly under diagnosed and leads to serious difficulties in school, work and personal lives. Mood disorders in children are very common, so the unanswered question remains; when should an adolescent with be considered clinically depressed? Many say the reason why depression is often over looked in children and teenagers are because "children are not always able to express how they feel (Brown 197)." Sometimes the symptoms of mood disorders take on different forms in children than in adults. Being a teenager is a time of emotional turmoil, mood swings, and gloomy thoughts. It is also a time of rebellion and experimentation. The "challenge is to identify depressive symptoms which may be superimposed on the backdrop of a more transient, but expected, developmental storm (Blacken 257).† Diagnosing adolescent depression should not lye only in the doctors’ hands but should be aided with parents, teachers and anyone who interacts with the child on a daily basis. Unlike adult depression, symptoms of youth depression are often masked. Instead of expressing sadness, teenagers may express boredom and irritability, or may choose to engage in risky behaviors (Oster Brown 107) and suicide (Blackman, 134). All of which can hide depressive symptoms....

Healthcare Data Example

Healthcare Data Example Healthcare Data – Coursework Example Healthcare Data al Affiliation: Healthcare Data The use of technology in the health care sector is playing a significant role in enhancing service delivery. However, majority of the healthcare providers have not been trained on how to handle personal data of the patients (Koontz, 2013). This is putting a threat to the ethical guidelines that govern the sector. Therefore, in order to safeguard the privacy of the patients. The current workforce needs to be taken through a vigorous training on how to handle data and protect it from a third party. In addition, they need some training on how to use the modern technology being installed in the sector without compromising the ethical guidelines. This would be significant in ensuring that they are not left behind during this immense transformation in their working environment. Currently, cyber threats have increased tremendously. Cases of identity theft and use of personal information from social media and other platforms to manipulate the o wners have increased over the years. Although healthcare sector has not handled a lot of cases in relation to the same, the trend is shifting to institutions that handle critical data about different personalities in the society (Ball,  Weaver, & Kiel, 2004). Therefore, this should cease from being a debate but a call for action. Immediate intervention is needed in order to protect the privacy of the people and avoid any theft of information from the sector. Unlike previously when the sector was working alone, cyber security has changed this aspect. At the moment, the sector should work together with various security apparatus in order to gather the necessary updates on different measures that need to be taken in order to protect the private data. ReferencesBall,  M.  J., Weaver,  C.  A., & Kiel,  J.  M. (2004). Healthcare information management systems: Cases, strategies, and solutions. New York: Springer. Koontz,  L.  D. (2013). Information privacy in the evolvin g healthcare environment. Chicago, IL: Healthcare Information and Management Systems Society.

These Are the 5 Worst Problems with College Boards AP Program

These Are the 5 Worst Problems with College Board's AP Program SAT / ACT Prep Online Guides and Tips We’ve talked a lot about the AP Program in the past – why you would take AP classes, how many you should take, and how AP compares to the IB program. But what are some of the major problems with the AP program?In this guide, we'll go over the top five worst problems that the College Board and the AP program are dealing with. We will also explain how you can avoid these problems and get the most out of your AP courses. The Top 5 Problems With Advanced Placement As a brief disclaimer, we don't expect the Advanced Placement program to be perfect, and there are many benefits to taking AP classes, as we've covered in the past. That said, by covering some of the weaknesses of the AP program, we hope to help students make more informed decisions about their schedules, especially in the midst of today's intense college admissions environment. Problem 1: More Tests Taken = More Failed Tests The AP Program is growing too fast for all the new programs to be supported, especially at low-income schools, leading to more failed tests than anything else. As we’ve discussed in the past, the ultimate goal of taking an AP class is to pass the AP test at the end of the year – if you don’t, you’ve basically wasted the $92 you spent on the exam. So it’s a problem if most of the AP growth in recent years comes from failed exams. College Board often celebrates the results of the fast-growing AP Program – nearly 5 million tests were taken in 2017, for example. However, the flip side to this is that with new AP classes and programs come growing pains, especially in schools that don’t have a lot of funding for new AP programs. It takes a few years for a class to really settle in at a high school, and for a teacher to get used to the AP curriculum. It can take a few years for a teacher to master a curriculum. This takes even longer in low-income schools – explaining why a lot of the growth has come in the form of failed AP tests (you can see how the average test score has fallen over time here). A report from Inside Higher Ed looks at this phenomenon: â€Å"The data also show, however, a more than doubling in the number of AP examinees who only achieve test scores of less than 3 on the exam. (Typically a score of three is the minimum required for college credit, and critics of the program have said that increases in the number of sub-3 scores suggest many students may not be gaining from the courses, a contention disputed by the College Board.) These figures grew from 182,429 to 395,925 during the last decade. Likewise, the number of AP exams with scores of less than 3 also more than doubled, from 521,620 to 1,345,988. The data also show significant gaps in participation rates and success rates (scores of 3 and higher) on the AP exams, by racial and ethnic group. White and Asian students are more likely to participate and to get good scores. Black students are much less likely to do so.† In other words, people are questioning how good the expansion of the AP program actually is if it just means more students are failing AP exams every year. There have been concerns for years among teachers about the program growing too fast, and schools being too lax about which students get to take AP. A 2009 survey of 1,000 AP teachers found that "more than half are concerned that the program’s effectiveness is being threatened as districts loosen restrictions on who can take such rigorous courses and as students flock to them to polish their rà ©sumà ©s." In short, there are thousands of students winding up with failed AP tests each year – which is no good for them or their schools. You could argue that the experience of taking an AP class helps students prepare for college, but the fact remains that rapid expansion is not leading to the best outcomes for many students. Problem 2: Too Much Material, Too Little Time Even though many courses have been revamped, AP still tends to be seen as a shallow, memorization-based program, in comparison to IB and home-grown curriculums at other schools. In one blistering critique of AP classes in The Atlantic, a former teacher writes: "the AP program leads to rigid stultification." He complains that by requiring so much material, AP classes lose depth and the opportunity for meaningful learning. Another study, reported in KQED, finds that â€Å"AP courses don’t always teach critical thinking skills or allow students to explore topics more deeply. Instead, they often turn into a race to cover a wide expanse of information, some say.† Okay, this is a slight exaggeration, but you would be surprised at the size of some AP textbooks. This is especially true in contrast to IB, which explicitly focuses on developing critical thinking and writing skills. By requiring students seeking an IB diploma to write an extended research essay, take a class about theories of knowledge, and including more writing on the exams, the IB program emphasizes critical thinking, research, and writing in the way AP classes simply don’t have time for. Even in places where the AP program has revamped classes, like biology, concerns remain. A Washington Post article notes: â€Å"The new curriculum will encourage more work in science labs and less parroting back of formulas, more work on historical thinking and less memorization of historical minutiae. That all sounds pretty good. But it will do little to improve teaching and learning, especially at schools with low-levels of instructional and administrative capacity.Merely asking teachers to spend less time drilling and more time promoting inquiry, in other words, does not make them able to do so, nor does it prepare their students to succeed in such classes.† A New York Times article further explains why it can be hard for teachers to switch over from drilling to experiments and critical inquiry: â€Å"While Ms. Vangos believes the program could inspire students who â€Å"like to think outside the box,† she worries that the new math requirements will discourage others. And with so many cutbacks these days in education budgets, she says, the need to improve lab facilities at many public schools 'is absolutely going to pose a big problem.' Labs in resource-strapped urban schools often don’t have enough of even basic tools, like dissecting microscopes, for their students.† In short, it’s hard to balance the fact that AP courses tend to pack in tons of material with a desire to emphasize critical thinking and accessibility. Especially in schools without many resources. At the end of the day, if you’re in an AP course, you’ll likely find yourself spending more time drilling definitions with flashcards than, say, conducting experiments or reading novels. The new AP Capstone program does attempt to rectify some of these issues. Read more about it here. Problem 3: You Won't Always Get the College Credit You're Expecting The AP Program might not lead to the college credit you want for two reasons. First, AP classes often aren’t always as rigorous as their actual college equivalents, and some colleges are getting stingy about granting AP credit. Again in The Atlantic, the former teacher argues AP classes aren’t actually equivalent to college-level courses: â€Å"Before teaching in a high school, I taught for almost 25 years at the college level, and almost every one of those years my responsibilities included some equivalent of an introductory American government course. The high-school AP course didn't begin to hold a candle to any of my college courses. My colleagues said the same was true in their subjects.† Additionally, in college, your AP course doesn’t always grant you credit. Sometimes it just gets you out of your department's intro courses – which you might want to take anyway to get a more solid understanding of the material. It can be hard to replicate the college experience in a high school classroom. It’s important to note that many schools – particularly large public universities – will give you credit for AP, especially for gen-ed courses. To look at an example of a public university, at the University of Utah (my local state school) you can get tons of AP credit, enough to knock out your general education requirements in high school. However, many private colleges, especially top-tier ones, are shying away from granting AP credit. For some schools, credit policies are drawn on departmental lines. Math and science AP courses get credit more often than History or English. To look at one example of a top-tier school, Princeton, you can get into harder history courses with excellent AP US or World History scores, but you won’t get credit for your high scores. Meanwhile, at Dartmouth, AP courses will no longer be used to grant any credit at all, though they will get students into higher-level classes. I can also speak to AP credit not panning out. Even though I took nine AP classes, and got seven 5’s and two 4’s, none of them got me class credit at Stanford, since Stanford mostly accepts AP credit from math, science, and language classes. However, those AP classes did a lot to help me prepare for Stanford classes – in fact most of my college study skills came from AP classes. In short, if you’re taking AP classes, you should get used to the fact that even though the classes will help prepare you for college, they might not get you credit once you get there. Problem 4: Students Are Overloading Another problem with AP isn’t so much due to the program itself, but how students (and parents!) react to it. Across the country, students are overloading themselves, thinking that taking ten AP classes is the ticket to a selective school. This leads to stressed-out, burned-out students. Plus, taking AP classes doesn’t even guarantee admission into schools like Harvard and Stanford. Some educators describe AP courses as kind of an â€Å"arms race,† where as certain students take more AP classes, others feel pressured to load up with more to compete. Local newspapers have run lots of articles over the last five years about students feeling the need to overload on AP classes. When students overload, they’re much more likely to get overwhelmed by the work and get lower scores on the exams. It also adds to the enormous amounts of stress associated with today’s college admission process. Problem 5: It Can Exacerbate Education Inequality While AP has often been touted as an equalizing force in education, it tends to just perpetuate unequal outcomes. Well-prepared and well-funded students do well on AP tests, and students from less wealthy schools do worse, so the AP program often reinforces education inequality. College Board often touts AP’s expansion into various public and low-income schools as a victory for education. The truth is that low-income schools often struggle to successfully implement AP programs and get students to pass the exams. So what ends up happening is that, similar to the SAT/ACT, the tests simply reinforce the status quo: students at well-funded schools do well, students at less well-funded schools struggle. Plus, the bigger the program gets, the less power it has to set students apart. Inside Higher Edexplores this phenomenon: â€Å"Consequently, their efforts, while well-intended, never address the underlying problems that affect school quality and educational equity †¦.the expansion of the AP Program failed to promote real parity between the educational haves and have-nots. Because once the AP Program reached a critical mass, it lost its functionality as a mark of distinction. Soon, scores of colleges and universities (Dartmouth being the latest) revised their policies around awarding credit for AP coursework or favoring it in admissions reviews. And ultimately, elite suburban and private schools began to drop the program, calling it outdated, overly-restrictive, and too oriented toward multiple choice tests. Thus, while students at Garfield High in East Los Angeles were for a short time doing the same work as students at Andover, the aim of equity proved a noble and elusive dream.† In short, the AP program isn’t living up to its promise of leveling the education playing field in the US. It’s even having the strange effect of causing certain private schools to drop AP and create their own advanced courses – making AP seem less special in the college admissions process. I’m not saying it’s the AP program’s responsibility to fix educational inequality in the US – education inequality is an enormous problem. It will take much more than just one program to fix it. That said, I think it’s important to evaluate how successful programs actually are in trying to fix the problem – especially if they claim to be part of the solution. So Should You Take AP Classes? Given these problems, should you totally give up on AP? After reading through all of those issues you may be having second thoughts. Not necessarily. I still think the AP program can be a great fit for many students. These are the steps you should take to make sure you get the most out of the program, despite its flaws. #1: Take the Hardest Classes at Your School We’ve looked at problems the AP has nationally, but the reality is you still need to take the hardest classes at your school if you’re looking to get into top colleges. That means you should still take AP classes if your school offers them and you're hoping for a top school but do not overload on them. Meet with your guidance counselor to talk about putting together a challenging mix of your school’s classes that doesn’t overload on AP – especially if your school’s AP program isn’t stellar. (Ask your guidance counselor about the pass rates your AP teachers achieve on the exams, and how often they notice students switching out of AP classes, to get a sense of how good the program is at your school.) If you’re aiming for top schools, your goal is to have a transcript that your counselor will report as â€Å"most rigorous† on the Common App guidance counselor report. If your school has AP, this means that, in most cases, you’ll need to take AP classes. But it doesn't mean you have to take every single AP course your school offers. If you overload, you risk stretching yourself too thin. It’s better to pass two AP tests than to fail four! Also make sure that for any AP class you take, you have solid pre-requisite courses under your belt. (For example, don't take AP Biology without having taken an introductory biology class first.) #2: Match Your AP Courses to Your Goals Do you want to get into a top-tier school? Or are you more interested in skipping general ed requirements at your state school and graduating college early? Your answers to these questions can help you decide which AP classes are worth your effort, and which ones aren’t. If you know what your goals are, you can create a smart AP program for you. For example, if you’re trying to avoid general education classes at your local state school, look up which AP courses fulfill these requirements at your state school, and focus on doing well in those. To take just one example, this may mean choosing to take AP Calculus over AP Art History if you’re looking to complete your college math credit in high school – even if you love art! If you’re aiming for a top school, look at AP courses that allow you to explore your interests and show your academic strengths. To continue our example, this may mean taking AP Art History instead of AP Calculus to demonstrate your interest in the fine arts and humanities. #3: Avoid Common Pitfalls First of all, don’t load up on APs just to have AP classes all over your transcript. Take the right number for you. If this means taking fewer AP classes than your friends, so be it! Remember to pick out classes with your own goals in mind. Also, don’t underestimate the exam – you have to study to pass the AP test, even if you think the class is easy! Getting an A in an AP class but getting a 1 on 2 on the exam looks bad. Make sure to take at least two full practice exams before the real thing. Finally, continue to develop your other interests in high school. Don’t take 10 AP classes but sacrifice a key extracurricular or studying for the SAT/ACT. Remember AP classes are just one factor of an advanced high school experience. #4: Focus on the Positive Although we’ve talked a lot about problems with the AP program, I still think it’s a great way to prepare for college. You can get a lot out of AP – by learning to study on your own, developing self-discipline, and mastering challenging material. At the end of the day, how much you get out of AP classes will depend on how much effort you put in. Despite the numerous problems with AP on a national level, and uneven courses at my local high school, I’m really glad I took nine AP classes in high school. By developing my own study schedules before the tests, I honed my self-discipline and study skills. The writing fluency skills I gained from numerous AP history and English courses were also super helpful in college when I found myself with several essays to write at the end of every quarter. In short, even if the AP program leaves something to be desired at your school, you can still use it to develop your skills. Keep in mind that could mean doing extra studying outside of class and taking studying matters into your own hands. What’s Next? Thinking you should take IB classes instead? Get a comparison of the IB and AP programs. While you might think AP is the key to college, think again. Read about how a high ACT/SAT score is the single most important key to improving your admissions chances. Need some help with your ACT/SAT studying? Check out 21 SAT tricks you should be using, and find out the hidden hints in the ACT instructions. Want to improve your SAT score by 160 points or your ACT score by 4 points?We've written a guide for each test about the top 5 strategies you must be using to have a shot at improving your score. Download it for free now:

International HRM Essay Example | Topics and Well Written Essays - 3000 words - 1

International HRM - Essay Example Therefore, in order to expand and grow, corporations are now emerging themselves into the global market. Within the organisations, the most importantly considered assets are its people. Where the organisation requires managing its operational activities, likewise the people within the organisation needs to come under supervision. The administration of the people is the sole responsibility of Human Resource Management department, thus, it has become significantly important for any organisation to have HRM in their organisation. What is Human Resource Management? Human Resource Management (HRM) is one of the departments that exclusively deals with and take care of the company’s assets known as ‘people’. The rising drifts in the international market and its situations have given a boost to Human Resource Management and raised its importance for the organisation and its owners. The history of HRM states that Personal Management was the term that came under use before the terminology Human Resource Management emerged. The emergence of HRM reveals the fact of the success of the organisations that was due to the behavioral change of employees for their contributions through their hard work (Jackson & Mathis, pp. 2-20, 2007). The principal functions of any Human Resource Management in a broad perspective focus on the recruitment of the people, administer them, and endow with guidance for the right path or track to them. Supporting and handling all the matters of concern of employees, such as â€Å"performance management and appraisals, compensation and benefits, training and development, hiring and firing of management level and junior level people, organisational development, employee motivation, and overall administration† (Jackson & Mathis, pp. 2-20, 2007) are the primary job functions of any HRM. HRM is not only administering the company’s employees, rather it also controls the culture of the enterprise and its internal atmosphere. HRM is a leading and motivational aspect that facilitates the employee to give their maximum output in an efficient and fruitful way so that the company can accomplish its mission and visions that helps growing its prosperity. With the passage of time, the role of HRM has extensively modified and increased and now it has shifted from the conventional role of administration of the employees to the added-value strategic approach and method that affects the business revenues in a reckonable way (Jackson & Mathis, pp. 2-20, 2007). What is International Human Resource Management? The globalisation and increasing global market trends and environment has given rise to the concept of Human Resource Management in an international context, which is International Human Resource Management (IHRM). IHRM focuses on the administration of the employees on a global basis in order to accomplish the goals, objectives mission and visions of the enterprise, in order to get an edge over the competitors present not only on local level but

Consumer behaviour 5 Essay Example | Topics and Well Written Essays - 1000 words

Consumer behaviour 5 - Essay Example This is true because most cultures that were exhibited in the last century are no longer practiced today as the new ones have replaced them. Nevertheless, Falk and Falk (2005) argue that a particular society may have more than one culture at any given time. At the same time, findings showed that youths are the most expressive when it comes to understanding the modern culture of a country or society (Moor, 2003). This makes me agree with the claim that to understand contemporary culture one needs to analyze the trends of its youth. To begin with, contemporary culture can be defined as the present culture exhibited by people of a given society as opposed inherited culture (Arvidsson, 2005). Some of the typical examples of contemporary culture include modern films, new arts, music, and literature among others. ‘Understanding culture,’ therefore, implies understanding the reasons behind the creation of these new cultures (Falk and Falk, 2005). Therefore, for us to understand culture, we must consider not only the obvious features expressed in the new culture but also the issues hidden in the new culture. A typical example can be drawn by looking at the new trends taking place in the music industry. Here, one can see clearly that the new trends being developed in the music industry has their origins from youths in society as noted by Arvidsson (2005). Take, for example, the hip-hop music, which has become a very common music among the youths of this generation. Certainly, hip-hop was not a type of music for the older generation rather has its roots from young people. As a result, one can conclude with certainty that contemporary culture reflects the trends of youths since they are created by youths. Arvidsson (2005) argues that young people are very flamboyant. As such, the beliefs and trends they follow are the most evident in society as opposed to that of the older generation. At the same time, evidence shows that when a given culture arises, it is th em who accepts it first and adopt it as opposed to the older generation, which tend to be more conservative. This is another reason that suggests that the trends of the youth is critical to undemanding the contemporary culture. The fact that youths are normally open-minded makes it easy for them to be influenced easily by new cultures. Take for examples globalization that has become part of the modern culture. Falk and Falk (2005) note that today globalization has permeated all aspects of social life, with its impacts being felt mostly among youths. A case in point is the increasing popularity of foreign language teachers and colleges’ couples with the growing number of multilingual youths who have embraced the culture of traveling from one country to another and coming across different cultures (Moor, 2003). Here, one can easily see the globalization elements of contemporary culture. This example shows that one can easily understand the culture of today by analyzing movement s of young people. A closer look at history also shows that most cultural revolutions originated from youth protests. The hippie movement of the 1960’s that began in the U.S. and later one spread to the rest of the world is a classical example of a cultural revolution, whose origin can be traced back to youth unrest according to Falk and Falk (2005). This movement is said to have been formed by youths due to frustrations they went through at the hands of the middle class who were increasingly focusing

Reason for Arabs immigration to the USA Term Paper

Reason for Arabs immigration to the USA - Term Paper Example mmigration to the US are quite diverse: they come in search of financial welfare, to escape from regional conflicts and suppression and finally to actualize their intellectual potential. The first and the most popular reason for immigration to the US is to find a job and to earn money. In terms of Arabs immigration it should be mentioned that there were 2 major waves of migration to America (Suleiman, 1999). The first wave took place between 1870 and World War II. Most Arabs came from Syria, Lebanon, Israel and Palestine. The economic hardships that people faced in these countries made thousands of Arabs leave their homelands and move to America. There was a major economic crisis in Lebanon due to appearance of the Suez Canal in 1880s. It made Japanese silk more easily available and Lebanese silk industry collapsed. In addition to this, population in Arabic countries increased dramatically, whereas standards of living became worse and worse (Suleiman, 1999). As a result, to avoid unemployment and poverty, people started looking for jobs and better life abroad. As the US was the country of opportunities, most Arabs decided to move there. Another reason why Arabs migrated to America is a need for safety. The second wave of migration of Arabs to the US took place after World War II and it continues till present times. During this wave people came to the States almost from the whole Arabic world, including North Africa. Apart from aforementioned economic reasons, second-wave immigrants had another significant ground to leave their countries and move to America, and that is armed conflicts. Iran-Iraq, Palestine-Israel, Lebanon, Yemen – these were extremely unstable and unsafe regions for living. These regional conflicts and civil wars became a catalyst of the desire to move to America, where there was no war and no suppression. There is one vivid difference between first-wave and second-wave immigrants. Those Arabs, who immigrated to the US before World War II, did

Chart the development of virtual reality from 1950 to 2050 Essay

Chart the development of virtual reality from 1950 to 2050 - Essay Example This implies that virtual reality translates to near reality. Nevertheless, technical phrases have a straightforward description since it describes virtual reality as a three-dimensional atmosphere created by the computer, which an individual can investigate and interrelate with. The individual who interrelates with this virtual sphere or gets enormous inside its setting is able to influence things or perform a sequence of deeds. This individual generally applies goggles, earphones, gloves among various devices, and in this manner, the computer manages in any case three of the five common senses. Prior to supplying sensory input to the client, these gadgets in addition supervise the client’s deeds. For example, the goggles supervise eye progress and react accordingly through forwarding new video input (Vince, 2004: 4). History background of virtual reality There existed abundant debates unto the connotation and appropriate name of what remains presently known as the virtual ar ts, even prior to the growth of these idea commenced. Therefore, describing and knowing virtual arts is a significant feature in providing a concise account of its growth. Its naming fluctuated due to the brandling of its occurrence since virtual reality bore three models namely synthetic reality, virtual atmospheres, and supplemented reality. Nevertheless, the ideal naming of virtual arts has gone through alterations as the virtual art idea advanced. However, the description coagulated to â€Å"virtual† during the 1960s when computers surfaced, giving it a tangible meaning owing to computer visuality. On the other hand, the idea of reality cropped up when theorists questioned if something else existed excluding the discernible and quantifiable reality of virtual manifestation, and the idea concludes as reality owing to the sensible positivity it showed. This implies that virtual reality turned to the common phrase that befitted the idea, and during 1989, Jaron Lanier changed it through definition that comes out by the application of the newest invention of goggles, gloves and associated technologies (Yu, 2010: 310). The account of virtual arts has been current and abrupt. This is because, whereas its constituents have grown for almost forty years, operational virtual systems simply emerged lately on the screen (Mclellan, 1992: 24). Development of Virtual Reality Nevertheless, the past of virtual arts dates back during the middle of 1950s when a futurist cinematographer known as Morton Heilig constructed a multi sensory simulator known as the Sensorama. The gadget contained a stereoscopic exhibit, dischargers moving chair and speakers. These traits enabled the client to watch television in three-dimensional modes since it pre-recorded movie in colour and stereo. More so, the simulator contained binaural sound, moving air, odour and vibration practices. Although the simulator had the total of these modified features, it was not as associative as expected (Steed, 2002: 3). Later on during 1961, another group of engineers known asPhilco Corporation developed the first HMD bearing the name headsight. The helmet contained a video screen band a tracking system that had linkage to a closed circuit camera system (Will, 2009: 4). During 1965, Ivan Sutherland, a famous computer scientist imagined a further advanced method known as the eventual system, which linked the

Haemoglobin plays a role in the transport of oxygen and carbon Essay

Haemoglobin plays a role in the transport of oxygen and carbon dioxide. Describe how this is accomplished at the molecular level. What happens to the relations - Essay Example rder to understand the transportation of oxygen and carbon dioxide at a molecular level, it is important to understand the structure of Hemoglobin (Figure). A heme group consists of an iron (Fe) ion (charged atom) held in a heterocyclic ring, known as a porphyrin. As seen from the figure the iron ion is the site of oxygen binding, bonds with the four nitrogens in the centre of the ring. The iron is also bound strongly to the globular protein. A sixth position can reversibly bind oxygen, completing the octahedral group of six ligands. Oxygen binds in an "end-on bent" geometry where one oxygen atom binds Fe and the other protrudes at an angle. When oxygen is not bound, a very weakly bonded water molecule fills the site, forming a distorted octahedron. Oxyhemoglobin is formed during respiration when oxygen binds to the heme component of the protein hemoglobin in red blood cells and occurs in the pulmonary capillaries near the alveoli of the lungs. The oxygen then travels through the blood stream to all the tissues and cells where it is utilized in aerobic glycolysis and in the production of ATP by the process of oxidative phosphorylation. Deoxyhemoglobin is the form of hemoglobin without the bound oxygen (Wikipedia, 2007). Bicarbonate ions react with the Hydrogen ions that are released from reduced hemoglobin and are in turn converted to water and carbon dioxide. For this reaction to occur an enzyme called Carbonic Anhydrase is required as a catalyst. The end product of the reaction is water and carbon dioxide which are then exhaled.  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚     Ã‚   HCO3-  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   +  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   H+  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   ----->   Ã‚  Ã‚  Ã‚  Ã‚   H2CO3  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   ----->  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   CO2  (exhaled)  Ã‚  Ã‚  Ã‚  Ã‚  +  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   H2O (exhaled) To put it in simple terms hemoglobin can bind oxygen and carbon dioxide. The amount of oxygen bound to

Asian American Analysis Article Example | Topics and Well Written Essays - 500 words

Asian American Analysis - Article Example Social Needs and Issues According to Sharon Lee: "As many Asian American studies scholars have pointed out, Asian Americans are depicted as model minorities but they are also portrayed as foreigners, disloyal to America," (2008, par 10) Lee further elaborates that: "Dual images of Asian Americans as model minorities, people to be praised and emulated and embraced, and foreign threats, people to be watched, monitored, and distrusted, have long been a part of U.S. history." (2008, par 11) How can Asian American students of the Chinese, Indian and South Korea origin reject these types of stereotypes without hurting their academic record It is nearly impossible. Many Asian American students feel that if they are going to break the stereotype, they should and will fail their classes. This will hopefully, in their minds, put them outside the mold and beyond the stereotype, and perhaps earn the trust of other classmates as well. This is something that a counselor and a school must keep in mind when realizing that Asian American failure rates are going up; a big inspiration for this problem is the desire to "fit in" with other students by "getting out" of their Asian American stereotypes.Another important item to consider is the fact that Asian American families generally want their children to be acculturated but not want them to be assimilated. Most of the parents speak their first language in the homes. Many of the parents are immigrants and may not speak English fluently. Therefore, this can cause concerns as far as fitting in and social norms are concerned. This means that these Asian American students may never feel fully accepted, nor may they ever be able to achieve full acceptance as their culture holds... From this study it is clear that the general stereotypes affect Asian Americans psychologically.   If they are not currently successful students, they may be too frightened to ask for help, thinking they will be rejected because of who they are, or ostracized by those within their own ethnic group.   This causes a threat for Asian American students that are failing, because intervention will be key; counselors must understand that these students will more than likely not ask for help.This paper stresses that  as far as education is concerned, there is a stereotype surrounding Asian Americans that puts quite a bit of pressure on their academic achievement.   Generally, Asian Americans of the Chinese, Indian and South Korean origin. are expected to perform well, and if they do not, they often feel very depressed and are embarrassed to ask for assistance.  Ã‚   According to Kim and Yeh: â€Å"Moreover, dispelling the Asian American universal academic success myth, the Educati onal Testing Service found that twelfth grade students from six major ethnic groups (Chinese, Japanese, Korean, Filipino, South Asian, and Southeast Asian) had significant variations in their educational backgrounds and achievement†.  ETS also demonstrated how stereotyping has led to the neglect of the development of student services and support for the many Asian American students who are undereducated and have low socioeconomic status†.

Chart the development of virtual reality from 1950 to 2050 Essay

Chart the development of virtual reality from 1950 to 2050 - Essay Example This implies that virtual reality translates to near reality. Nevertheless, technical phrases have a straightforward description since it describes virtual reality as a three-dimensional atmosphere created by the computer, which an individual can investigate and interrelate with. The individual who interrelates with this virtual sphere or gets enormous inside its setting is able to influence things or perform a sequence of deeds. This individual generally applies goggles, earphones, gloves among various devices, and in this manner, the computer manages in any case three of the five common senses. Prior to supplying sensory input to the client, these gadgets in addition supervise the client’s deeds. For example, the goggles supervise eye progress and react accordingly through forwarding new video input (Vince, 2004: 4). History background of virtual reality There existed abundant debates unto the connotation and appropriate name of what remains presently known as the virtual ar ts, even prior to the growth of these idea commenced. Therefore, describing and knowing virtual arts is a significant feature in providing a concise account of its growth. Its naming fluctuated due to the brandling of its occurrence since virtual reality bore three models namely synthetic reality, virtual atmospheres, and supplemented reality. Nevertheless, the ideal naming of virtual arts has gone through alterations as the virtual art idea advanced. However, the description coagulated to â€Å"virtual† during the 1960s when computers surfaced, giving it a tangible meaning owing to computer visuality. On the other hand, the idea of reality cropped up when theorists questioned if something else existed excluding the discernible and quantifiable reality of virtual manifestation, and the idea concludes as reality owing to the sensible positivity it showed. This implies that virtual reality turned to the common phrase that befitted the idea, and during 1989, Jaron Lanier changed it through definition that comes out by the application of the newest invention of goggles, gloves and associated technologies (Yu, 2010: 310). The account of virtual arts has been current and abrupt. This is because, whereas its constituents have grown for almost forty years, operational virtual systems simply emerged lately on the screen (Mclellan, 1992: 24). Development of Virtual Reality Nevertheless, the past of virtual arts dates back during the middle of 1950s when a futurist cinematographer known as Morton Heilig constructed a multi sensory simulator known as the Sensorama. The gadget contained a stereoscopic exhibit, dischargers moving chair and speakers. These traits enabled the client to watch television in three-dimensional modes since it pre-recorded movie in colour and stereo. More so, the simulator contained binaural sound, moving air, odour and vibration practices. Although the simulator had the total of these modified features, it was not as associative as expected (Steed, 2002: 3). Later on during 1961, another group of engineers known asPhilco Corporation developed the first HMD bearing the name headsight. The helmet contained a video screen band a tracking system that had linkage to a closed circuit camera system (Will, 2009: 4). During 1965, Ivan Sutherland, a famous computer scientist imagined a further advanced method known as the eventual system, which linked the

Asian American Analysis Article Example | Topics and Well Written Essays - 500 words

Asian American Analysis - Article Example Social Needs and Issues According to Sharon Lee: "As many Asian American studies scholars have pointed out, Asian Americans are depicted as model minorities but they are also portrayed as foreigners, disloyal to America," (2008, par 10) Lee further elaborates that: "Dual images of Asian Americans as model minorities, people to be praised and emulated and embraced, and foreign threats, people to be watched, monitored, and distrusted, have long been a part of U.S. history." (2008, par 11) How can Asian American students of the Chinese, Indian and South Korea origin reject these types of stereotypes without hurting their academic record It is nearly impossible. Many Asian American students feel that if they are going to break the stereotype, they should and will fail their classes. This will hopefully, in their minds, put them outside the mold and beyond the stereotype, and perhaps earn the trust of other classmates as well. This is something that a counselor and a school must keep in mind when realizing that Asian American failure rates are going up; a big inspiration for this problem is the desire to "fit in" with other students by "getting out" of their Asian American stereotypes.Another important item to consider is the fact that Asian American families generally want their children to be acculturated but not want them to be assimilated. Most of the parents speak their first language in the homes. Many of the parents are immigrants and may not speak English fluently. Therefore, this can cause concerns as far as fitting in and social norms are concerned. This means that these Asian American students may never feel fully accepted, nor may they ever be able to achieve full acceptance as their culture holds... From this study it is clear that the general stereotypes affect Asian Americans psychologically.   If they are not currently successful students, they may be too frightened to ask for help, thinking they will be rejected because of who they are, or ostracized by those within their own ethnic group.   This causes a threat for Asian American students that are failing, because intervention will be key; counselors must understand that these students will more than likely not ask for help.This paper stresses that  as far as education is concerned, there is a stereotype surrounding Asian Americans that puts quite a bit of pressure on their academic achievement.   Generally, Asian Americans of the Chinese, Indian and South Korean origin. are expected to perform well, and if they do not, they often feel very depressed and are embarrassed to ask for assistance.  Ã‚   According to Kim and Yeh: â€Å"Moreover, dispelling the Asian American universal academic success myth, the Educati onal Testing Service found that twelfth grade students from six major ethnic groups (Chinese, Japanese, Korean, Filipino, South Asian, and Southeast Asian) had significant variations in their educational backgrounds and achievement†.  ETS also demonstrated how stereotyping has led to the neglect of the development of student services and support for the many Asian American students who are undereducated and have low socioeconomic status†.

Assignment Internal Audit Essay Example for Free

Assignment Internal Audit Essay Q.1 Critically evaluate the qualities of an Auditor in the wake of recent scams Ans:- What should be the qualities of Internal Audit Personnel? There is no universal answer to this question. We can only generalize about the qualities of internal Audit Personnel. It has been observed that internal auditors and independent auditors often belong to the same professional organization and are subject to the same professional regulations. Hence apart from professional qualification and experiences, the qualities of audit personnel should be same. The Institute of Chartered Accountants of India (ICAI) has issued â€Å"SA-220-Quality Control for Audit Work† with an objective to establish standards on quality control as to the policies and procedures regarding of an audit firm for audit work generally, and procedures regarding the work delegated to assistants on an individual audit. The standard is equally applicable to an internal audit department also. The head of internal audit department should regularly review the quality of audit work based on the standard mentioned below. Important extract of SA 220 are given below. Important terms a) â€Å"The Auditor† means the person with final responsibility for the audit. b) â€Å"Audit Firm† mean either the partners of a firm providing audit services or sole practitioner providing audit services. c) â€Å"Personnel† means all partners and professionals staff engaged in the audit practice of the firm. d) â€Å"Assistant† means personnel involved in an individual audit other than the auditor. Audit firm 1. The audit firm should implement quality control policies and procedures designed to ensure that all audits are conducted in accordance with the standards on auditing. 2. The objectives of the quality control policies to be adopted by an audit firm will ordinarily incorporate the following: a) Professional requirements: Personnel in the firm are to adhere to the  principles of independence, integrity, objectivity, confidentiality and professional behavior. b) Skills and competence: The firm is to be staffed by personnel who have attained and maintain the technical standards and professional competence required to enable them to fulfill their responsibilities with due care. c) Assignment: Audit work is to be assigned to personnel who have the degree of technical training and proficiency required in the circumstances. d) Delegation: There is to be sufficient direction, supervision and review of work at all levels to provide reasonable assurance that the work performed meets appropriate standards of quality. e) Consultation: Whenever necessary, consultation within or outside the firm is to occur with those who have appropriate expertise. f) Monitoring: The continued adequacy and operational effectiveness of quality control policies and procedures is to be monitored. 3. The firm’s general quality control policies and procedures should be communicated to its personnel in a manner that provides reasonable assurance that the policies and procedures are understood and implemented. Individual audits 4. The auditor should implement those quality control procedures which are, in the context of the policies and procedures of the firm, appropriate to the individual audit. 5. The auditor, and assistants with supervisory responsibilities, will consider the professional competence of assistants performing work delegated to them when deciding the extent of direction, supervision and review, appropriate for each assistant. 6. Any delegation of work to assistants would be in a manner that provides reasonable assurance that such work will be performed with due care by persons having the degree of professional competence required in the circumstances. Direction 7. Assistants to whom work is delegated need appropriate direction. Direction involves informing assistants of their responsibilities and the objectives of the procedures they are to perform. It also involves informing of matters, such as the nature of the entity’s business and possible accounting or auditing problems that may affect the nature, timing and extent of audit procedures with which they are involved. 8. Audit programme is an important tool for the communications of audit directions. Time budgets and the  overall audit plans also helpful in communicating audit directions. Supervision 9. Supervision is closely related to both direction and reviews and may involve elements of both. 10. Personnel carrying out supervisory responsibilities perform the following functions during the audit: a) Monitor the progress of the audit to consider whether: i) Assistants have the necessary skills and competence to carry out their assigned tasks; ii) Assistants understand the audit directions; and   iii) The work being carried out in accordance with the overall audit plan and the audit programme. b) Become informed of and address significant accounting and auditing questions raised during the audit, by assessing their significance and modifying the overall audit plan and the audit programme as appropriate; and c) Resolve any differences of professional judgment between personnel and consider the level of consultation that is appropriate. Review 11. The work performed by each assistant needs to be reviewed by personnel of at least equal competence to consider whether: a) The work has been performed in accordance with the audit programme; b) The work performed and the results obtained have been adequately documented; c) All significant audit matters have been resolved or are reflected in audit conclusions; d) The objectives of the audit procedures have been achieved; e) The conclusions expressed are consistent with the results of the work performed and support the audit opinion. 12. The following need to be reviewed on a timely basis: a) Overall audit plan and the audit programme; b) Assessment of inherent and control risks including the results of tests of control and the modifications, if any, made to the overall audit plan and the audit programme as a result of tests of control; c) Documentation of the audit evidence obtained from substantive procedures and the conclusion drawn there from, including the results of consultations; and d) Financial statements, proposed adjustments in financial statements arising out of the  auditor’s examination, and the auditors’ proposed observations/report. Conclusion The personnel qualities required of the internal audit personnel can be summarized as follows: 1. They should possess required qualifications, training, experience and competence. 2. They should have a continuing awareness of development in the field of accounting and auditing especially internal auditing. 3. They should perform their duties with due professional care, paying due attention to the role assigned to them by the management. 4. They should maintain their professional independence. 5. They should be completely impartial and unbiased in their reporting. 6. They should possess highest quality of ethics and integrity. Q.2 What is social audit? Is social audit taken seriously by the corporate world? Give examples of corporates undertaking social audit. Ans:- The social audit is also called social responsibility audit. A business organization exists in society. Hence, it owes certain responsibilities toward society at large. As Lord Denning has observed: †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ the directors of a great company should owe a duty to those who are employed by the company to see that their conditions of service are proper. They should owe a duty to the customers, to the people to whom the goods are supplied, a public duty perhaps, not to expect excessive prices. They should owe a duty also to the community in which they live, not to make the place of production hideous or a nuisance to thos MF0013 [Internal Audit and Control] Set1 Q2 Q.2 What is social audit? Is social audit taken seriously by the corporate world? Give examples of corporate undertaking social audit. Ans: Social Audit:- The social audit is also called social responsibility audit. A business organization exists in society. Hence, it owes certain responsibilities toward society at large. As Lord Denning has observed: The directors of a great company should owe a duty to those who are employed by the company to see that their conditions of service are proper. They should owe a duty to the customers, to the people to whom the goods are supplied, a public duty perhaps, not to expect excessive prices. They should owe a duty also to the community in which they live, not to make the place of production hideous or a nuisance to those who live around.† Social audit is mainly concerned with social accounting. It may be noted that social accounting is still in early stage and so social audit also. Social audit also called Social Responsibility Audit is mainly concerned with social accounting. A continuous audit is basically a perpetual audit, where auditors and his staff constantly engaged in checking the accounts throughout the year. Annual audit is done at the end of the financial year when finalization of accounts has been completed and books of accounts closed. A Balance Sheet audit is mainly concerned with the verifications of items appearing in the Balance Sheet such as share capital, reserve and surplus, current liabilities, fixed assets, current assets, investments etc in detail. Importance of the Social Policy: The phenomenal growth of Socially Responsible Funds (now 20% of funds invested in the US), the growing difficulty to attract qualified employees, and the rise of non-governmental organizations able to sue or boycott unethical businesses, demonstrate the vital importance for any business of a well designed Social Policy. The Ethics Policies will attract long-term investors, increase market shares for the ethical product, strengthen partnerships, and make the employees proud. The Labor Policies will attract and keep a qualified workforce, and increase productivity, while opening new markets (ethnic minority customers are sensitive to the anti-discrimination policies in the work place). The Environmental Policies will attract customers interested in the protection of the environment, and investors who fear the risks linked to bad environmental practices, while sometimes reducing the costs with cost-effective modifications of production processes. As for most other components of the Social Policy, serious Environmental Policies will attract Socially Responsible Funds and a qualified workforce (nobody likes polluters!). The Human Rights Policies, also, will attract Socially Responsible Funds and a qualified workforce. Its most important role, however, is defensive: to prevent boycotts or campaigns of protest that could seriously tarnish the reputation of the company accused of practicing (or being an accomplice of) human rights abuses, and the resulting falling stock prices, loss of market shares, and low-moral work force. The Community Policies will not only create roots in a local base for the company, it will also increase the productivity of the work force involved in the projects (by developing their leadership and customerservice skills, building pride and loyalty with the feeling of being useful). The Society (or Extra-Community) Policies boost not only the products linked with the policy but also the image of the company. Cause Related Marketing is extremely appreciated by customers because it makes them feel good (allowing them to support charities without spending their time or money), as long as the charities are well chosen and the percentage is not too small (or the ceiling too low). The Compliance Policies are part of the Social Policy for two reasons. First, by complying with the law, the co. demonstrates it is socially responsible. More importantly, Compliances Policies often go beyond the legal requirements, in order to show concerns for social matters (health, labor, environment, etc.). In many cases, companies build their social image by doing only slightly more than what is required by the law. Creation of a Social Policy: Most companies (if not all) already have elements of Social Policy. Often, these are independent pieces of regulation and practices. Most of the time, they are not part of a unique strategy, they are not managed by powerful senior executives, they are not reviewed before any business decisions are made, and they are not used in ways that would produce their full benefits. The first step is to have an Independent Social Audit, either Defensive (to prevent lawsuits and boycotts), or Productive (to increase productivity, market shares and long term investment). The audit will identify the stakeholders; clarify the components of a Social Policy that would address the concerns of these stakeholders at either the Defensive or Productive level, or make recommendations on the necessary measures to build the Social Policy. The company must be totally involved in the Audit. The Independent Social Audit is neither an inspection (for which the company would dissimulate important pieces) nor is it a situation where the Auditor brings his one size fits all solutions. The Auditor is only the coach of a team, composed of senior executives of the company who are working at gathering the information and finding solutions. The Auditor provides the directions, merges the information to create a whole picture of the social situation, and gives advice on the method used by the company to build its Social Policy and on its different aspects. Ultimately, it is the leadership of a company who builds its Social Policy, and then decides on the best way to run the policy (for instance, nomination of a person or creation of a department dedicated to Social Policy issues). Scope of a Social Audit The identification of the stakeholders is generally the first task of an audit. However, a Social Auditor does not study each group of stakeholders separately. Stakeholders have to be considered as a whole, because their concerns are not limited to the defense of their immediate interest. As a result, the Social Auditor will work on the components of a companys Social Policy (Ethics, Labor, Environmental, Community, Human Rights, etc.), and  for each subject, the Social Auditor will analyze the expectations of all stakeholders. The scope of the audit generally includes the following policies: Ethics: values the company vows to respect. Policies include the pledge not to participate in (nor engage in business with people involved in) a series of activities that are deemed offensive. This list of unacceptable activities often includes exploitation of children, unethical treatment of animals, damage to the environment, and dealings with undemocratic regimes or with bad guy industries (fur, tobacco,guns, etc.). Labor: creation of a working environment allowing all employees to develop their potential. Policies include training, career planning, remunerations and advantages, rewards linked to merit, balance between work and family life, as well as mechanisms that ensure non-discrimination and non-harassment. Environment: monitoring and reduction of the damage caused to the environment. For instance, policies of reduction of emissions and waste. Human Rights: making sure the company does not violate human rights nor appears as supporting human rights violators. Community: investment in its local community. Policies include partnerships with voluntary local organizations, with financial donations, donations in kind (computers for education, food and clothes for the poor), and employees involvement. The company may initiate or participate to a major project such as the regeneration of a poor neighborhood plagued with unemployment, poverty, low education and racial tensions. Society: investment or partnership beyond the community. For instance, Cause Related Marketing (partnership with a charity to market a product while giving a small percentage of the sales to the charity). Compliance: Identification of all legal obligations and of the means to comply. Policies must deal with changing rules related to its work force (Labor), its products (Health, Environment, Intellectual property, specific regulations), its administration (Business, Tax), its dealings (supplier and customer liability, Criminal actions). MF0013 [Internal Audit and Control] Set1 Q3 Q. 3 Explain the Code of Ethics for Internal Auditor. Explain them in context with blacklisting Price Waterhouse Coopers in Satyam Scam. Ans: Code of Ethics for Internal Auditor In his book â€Å"Practical Guide for Internal Audit† R.S. Adukia has scholarly explained about the code of ethics for internal auditor which is as follows: â€Å"This code of ethics sets the minimum requirements for the performance and conduct of internal auditors. This code applies to all internal auditors but does not supersede or replace the requirement on individual to comply with ethical codes issued by professional institutes of which they are members or student members and any organizational codes of ethics or conduct.† There are four main principles: 1. Integrity: The internal auditor should demonstrate integrity in all aspects of their work. Their integrity establishes an environment of trust, which provides the basis for reliance on all activities carried out by the internal auditors. 2. Objectivity: Objectivity is a state of mind that has regard to all considerations relevant to the activity or process being examined without being unduly influenced by personal interest or the views of others. Internal auditors should display professional objectivity when providing opinions, assessments and recommendations. 3. Confidentiality: Internal auditors must safeguard the information they receive in carrying out their duties. There must not be any unauthorized disclosure of information unless there is a legal or professional requirement to do so. 4. Competency: The internal auditor should make use of his/her knowledge, skills and practical experience necessary for auditor’s activity performance. They should not accept or perform work that they are not competent to undertake, unless they have received adequate training and support to carry out the work to an appropriate standard. Achieving compliance with code of ethics i) Security integrity: The internal auditor should: a) Perform his/her job honestly, diligently and with responsibility. b) Perform his/her profession in harmony with the acts and other generally binding regulations. c) Avoid any illegal activity and performing any activity discrediting the internal auditor’s profession. d) Respect the legal and ethical objectives of the organizations. e) Take care that his/her integrity should not be compromised. ii) Objectivity: The internal auditor should: a) Avoid taking part in activities or relations which may damage, or might be understood as damaging his/her unbiased assessment including activities or relations which may be in conflict with public interests. b) Avoid accepting anything that may damage or might be understood as damaging his/her objective professional assessment. c) Protect his/her objectivity against political influence. d) Disclose all substantial facts known to him/her that being undisclosed might misrepresent the conclusions on activities or events assessed. iii) Observing Confidentiality: The internal auditor should: a) Be careful when using and protecting information he/she gathered when auditing. b) Avoid disclosing and making use of the information obtained during the auditor’s activities performance in order to damage the interests of other person or organization. c) Avoid making use of the information obtained during the auditor’s activities for personal enrichment or in a way which would be in conflict with the law or which would damage legitimate and ethical interests of the organization. iv) Demonstrating Competence: a) It is a pre-requisite that all internal audit staff is aware of and understand: 1. The organization’s aims objectives, risks and governance arrangements. 2. The purpose, risks and issues affecting the service area to be audited. 3. The terms of reference for the audit assignment so that there is a proper appreciation of the parameters within which the review be conducted. 4. The relevant legislation and other regulatory arrangement that relate to the service area to be audited. b) The internal auditor should keep educating himself constantly in order to have a good command of internal audit techniques and auditor standards necessary for obtaining, examining and evaluating the information. v) Maintaining Audit Independence: Internal auditors should be independent of the activities they audit. Internal auditors are considered independent when they can carry out their work freely and objectively. Independence permits internal auditors to render the impartial and unbiased judgments essential to the proper conduct of audits. This is achieved through organizational status and objectivity. Independence stands for an internal auditor being able to take a stand and report on materiality issues, uninfluenced by any favors coercion or undue influence. Satyam’s auditors:- So what were the auditors, PricewaterhouseCoopers, doing? There was no cash within the companys banks and yet the auditors went ahead and signed on the balance sheets saying that the money was there. Not just the cash, even they even signed off on the non-existent interest that accrued on the non-existent bank balance! Auditors do bank reconciliation to check whether the money has indeed come or not. They check bank statements and certificates. So was this a total lapse in supervision or were the bank statements forged? No one knows yet. The cops have already raided the PwC office in Hyderabad, but details of what they have found are yet to emerge. The company officials said they relied on data from the reputed auditors. But PricewaterhouseCoopers, stung by this insinuation hit back at Satyam. In a statement to the media, the firm said: The audits were conducted by Price Waterhouse in accordance with applicable auditing standards and were supported by appropriate audit evidence. Given our obligations for client confidentiality, it is not possible for us to comment upon the alleged irregularities. Price Waterhouse will fully meet its obligations to cooperate with the regulators and others. (Extracted from Rediffmail.com). MF0013 [Internal Audit and Control] Set1 Q4 Q.4 As a senior audit assistant of M/s. Asutosh Associates, you are in charge of internal audit team of M/s Rajesh Technologies involved in the manufacture of plastic tubes. From the information you obtained you find the company is facing liquidity problem for the last two years. You are required to prepare working paper indicating the internal audit problems you would expect to face and how you plan to overcome them. Ans: There have been many accounting scandals over the years which resulted in more traders showing interest in learning how to analyze a companys financial statements. When companies do declare bankruptcy, it is usually because they cannot pay their debts. So let’s take a look at the importance of corporate debt and go over how an investor can analyze a company’s liquidity. Economic theory says that the mix of debt and equity in a company’s capital structure is irrelevant, that the value of a firm should be independent of its debt ratio. In the real world, companies and investors have to worry about things like taxes and the risk of default, so a companys capital structure can be relevant to its long-term survival. Long -term creditors can also put restrictions on the company such as preventing it from taking on additional debt or paying higher  dividends. Most public companies have at least some debt, and the biggest reason to take on debt is to leverage the equity (much like buying stock on margin). Return on equity is very important to investors. But the greater the proportion of debt to equity on the balance sheet, the higher the business risk. Since a lot of corporate debt tends to be short-term, there can be a real risk to the company if investors lose confidence in it. It is not unlike a run on a bank, where liabilities (loans) have a longer duration than their assets (deposits). If everyone suddenly wants their money now, the bank will not be able to meet the demand and be forced to close. That is why it is important to look at a company’s debt and liquidity. Liquidity in the option markets refers to the volume of contracts changing hands in a day. There is lots of liquidity in the options of companies such as IBM and Microsoft, since there are many buyers and sellers. However, liquidity means something very different at the company level. Here we are referring to whether or not the company has, or can generate, enough cash to keep operating if they had to pay off short-term debt quickly. Banks use liquidity analysis to assess the risk of a company not being able to repay them in the short term. Agencies rate a company’s debt according to the perceived threat of default. Still, crises periodically seem to emerge from almost nowhere to cause the sudden collapse of companies that seemed solid only weeks before. Once investors lose confidence, as companies such as Enron, Qwest and WorldCom learned, liquidity can mean the difference between survival and death. That is why investors should always take a little time to check debt and liquidity ratios before entering any trading position. Most investors are familiar with the corporate bond market. When a ratings agency such as Moody’s or Standard and Poor’s downgrades a company’s debt, this certainly causes the company’s bond holders some distress, as the value of the bonds will drop. Still, since corporate bonds are primarily long-term debt, this is not usually the source of liquidity problems (unless a large  amount just happens to be nearing expiration). No, it is usually a company’s short-term debt that gets them in trouble. When a company runs into financial problems, their debt rating is usually quickly downgraded. Investors demand a higher premium to lend to the company. If they lose confidence altogether they will simply refuse to lend at any price. If the company does not have liquid assets available, even temporary cash flow problems can quickly become life threatening. Of course, the banks most companies up in the short term. Before investors will buy commercial paper, they usually require a commercial paper back-up facility with a bank. This gives them a bit more security that they will be paid. However, this facility is not meant to be used, and drawing on it is an admission the company is having severe liquidity problems. This is what happened to Qwest about two years ago. When Qwest had trouble borrowing in the commercial paper markets, they had to draw down their $4 billion credit line with banks. It was a stop-gap measure that put off a financial reckoning for a few months, but credit agencies responded by cutting the rating on its outstanding bonds to near junk status. $4 billion is a lot of money to come up with in short time. By comparison, their market capitalization was $16.4 billion at the time, they had annual revenue of about $20 billion, and a loss of $4 billion the previous year. So one of the first ratios an investor should look at is the company’s debt to its total capital. Total capital is all their debt plus equity. This ratio should be compared with what is normal in their industry and not simply against all other businesses. The next thing to look at is a companys ability to meet its debt payments. This is measured by a ratio called â€Å"times interest earned†. Times interest earned is a company’s earnings divided by their total interest cost. For the earnings number you could choose to use EBIT (earnings before interest and taxes), or the more aggressive EBITDA (which adds back the  non-cash costs of depreciation and amortization).