JP Morgans Financial Risk Management Essay Example | Topics and Well Written Essays - 250 words

JP Morgans Financial Risk Management - Essay Example ures established by the bank to control the credit derivatives trading carried out by the chief investment office were insufficient to shield the bank from the external material risks that arose from the trading strategies and positions adopted by the CIO; The risk management model adopted by the bank lacked adequate processes and procedures to monitor, measure understand, and control the risk arising from the credit derivatives trading activities of the chief investment office; and The valuation procedures used by the chief investment office lacked adequate and effective assessment as the credit derivatives trading strategy adopted by the CIO increased the CIO’s risk based on the Value at Risk model adopted by the bank. This resulted in the CIO adopting a new Value at Risk model, which increased its risk but continued to use the risk limits used in the earlier ‘VaR’ model (Belshaw, 2013). Belshaw, G. 2013. Department of the Treasury: Office of the Comptroller of the Currency. Consent Order. Consent Order. Accessed February 11, 2014

Publix Case Essay Example for Free

Publix Case Essay This list of items changes from region to region and even from store to store. The items on the theft-prone list are locked up for safe keeping. It is essential that Publix continue to take the necessary actions to prevent the likelihood of theft. While a company cannot prevent all attempts of theft, it can certainly do its due diligence to ensure that the number of cases of theft is minimized. Additionally, Publix employees play a major role in reducing the amount of legal costs the company incurs. All employees are expected to work to ensure store safety on a consistent basis. By being proactive with these types of training programs and locking away commonly stolen merchandise, Publix is lessening the amount of time and money it spends on legal issues. Economic Factors With the recent downturn in the economy, many customers are now looking for the lowest price retailer to purchase from. Publix has built its brand based mostly on the quality of products and the shopping experience, not the lowest price. Retailers that consumers generally equate to low prices include Wal-Mart and bulk buying retailers like Costco and Sams Club. With that in mind, in times like these, Publix seems to be at a major disadvantage. Publix understands that there is strong competition in the supermarket industry(Weinstein, pg 272). Publix, like many other grocery chains, is having a difficult time competing with low cost supercenters. Even in a recession, the average American consumer is still spending a large portion of their income on food. Although U. S. food spending is on the rise, supermarkets are not capturing their fair share (Weinstein, pg 274). Consequently, Publix has to now change the consumer focus on price to one of value. Publixs goal is to make every customer feel personally valued in such a way that they see themselves as one in a million(Weinstein, pg 269). If Publix is able to continue to differentiate its products value for the consumer, it may be able to convert the supercenter shopper into a loyal customer. Social/ Cultural Factors At Publix, everything revolves around pleasing the customer, which is why it has enjoyed much of the success it has had since the 1930s(Weinstein, pg 269). Superior customer value and quality of products are cornerstones in the Publix culture. Publix depends on the fact that a more educated consumer is willing to pay a slightly higher price for great service. The average Publix customer is well-educated and lives within a 5 mile radius of the store in which they shop. Publix understands that it is far easier to maintain a current customer than to attract a new one. Thus, Publix associates are [also] encouraged to use their daily observations, customer feedback, survey evaluation, and other data to improve their jobs, better serve their customers, and make Publix a better place where shopping is a pleasure'(Weinstein, pg 280). Technological Factors An industry study revealed that by 2007, about 20 million households in the United States will purchase groceries, food, and other household items online†¦However, to date, none of the major grocery chains have mastered the online arena(Weinstein, pg 281). Publix is working towards how to profitably master implementing the technological processes that its customer is demanding. In an attempt to enter the online grocery market, Publix launched PublixDirect in 2001. This service came to an end in 2003 despite all the proper planning that went into its conception. It is imperative that Publix finds a way to control its costs in an effort to compete with the few successful online grocers that currently dominate the market.

Red Scare America 1920 :: essays papers

Red Scare America 1920 World War I was finally over, however, there was a new threat to Americans. This threat was Communism, which was greatly feared by most U.S. citizens. Communism is "a system of social and economic organization in which property is owned by the state or group, to be shared in common or to be distributed among members of the community equally or in proportion to their respective needs."* In 1919, no more than one-tenth of the adult American population belonged to the newly formed Communist movement, and even this small percentage were greatly persecuted. Although American "Reds" caught most of the fury of the raids, it was not just the Communists who had stirred national panic. Emotions that had been building since the turn of the century were brought out during World War I, and then burst into a "xenophobic" (fear and hatred of foreigners) repression. Late in the afternoon of Friday, January 2, 1920, agents from the Department of Justice raided a Communist headquarters and began arresting thousands of people in major American cities throughout the nation. They poured into private homes, clubs, pool halls and coffee shops, arresting citizens and aliens, Communists and non-Communists, tearing apart meeting halls and destroying property. The Agents put their victims in jail, held them without an attorney, and interrogated them. The prisoners who could demonstrate that they *As quoted from The Lincoln Library copyright 1961 were American citizens were released. Aliens were released a few days later unless they were members of the Communist Party or the Communist Labor Party. These were the two groups that were formed from the American Communist movement. In two days, nearly five thousand people were arrested, and nearly five thousand were seized in the cleaning up that followed during the next two weeks. The arrests were carried out with total disregard for the rights of the prisoners. There are some psychological views that might help to explain why the events of 1919 -1920 took place. Some Americans during this time were always on the verge of attacking. They were hostile toward minorities, extremely patriotic, and ready to rid their nation of any intruder that seemed to threaten them. The postwar effort for "one hundred percent Americanism" may have left our citizens with the desire to keep our country pure. The Russian Revolution in the fall of 1918 also contributed to America's unrest. In a violent outburst, the Communists took control of the Russian government and murdered the Tsar and his entire family

Socrates Essays -- essays research papers

SOCRATES Socrates was a Greek philosopher who lived between 470-399 B.C. He turned Greek attention toward questions of ethics and virtue and away from those of the heavenly bodies. Socrates spent much time in the Agora (marketplace) where he held conversations with townspeople. Socrates believed that real truth could be found out through thought and collaboration with others. He was known for exposing ignorance, hypocrisy, and conceit. Despite having many followers, Socrates was disliked by most Athenians. At the age of 70, he was convicted of atheism, treason and corruption of the young. He was originally ordered to leave Athens, but chose to drink poison instead. This great man valued the law over his life, and so he chose to drank hemlock over leaving. Socrates is best remembered for his courage and strong moral beliefs which manifested themselves in his lifestyle. Although Socrates did not dwell much on the heavenly bodies, his beliefs that searching could bring about understandi ng of the world and humans in it laid a foundation that is still very much a part of modern science. In the course of Western Civilization, there have been two trials ending in a sentence of death imposed upon two individuals later deemed grossly unfair and unjust by the verdict of history. One trial was that of Jesus Christ, the other that of Socrates it was Jesus' destiny, and It was Socrates' choice. Both philosophers and theologians, carry a political message, a message apt to rub the ruling power structure's nose in its own mess. Christ defined and built a new moral order. All Socrates ever accomplished was questioning and probing the democratic beliefs of his day. He refused to define proper behavior and what should be done by government. Socrates did not build anything or write nothing; instead he strove to destroy the legitimacy of free men ruling themselves, Both Christ and Socrates were killed at the orders of lesser men for what they said. The story of Jesus Christ and th e world in which he lived are well known. Now let us look at Socrates, the world's first "intellectual" and the stage he acted upon. Socrates was the town character. While a member of the middle class, he was on good terms with Pericles, the ruling aristocrat voted the first strategos (general) for over 30 years. Socrates, the perfect snob, surrounded himself with the gilded aristocratic yo... ...ted money. Then when the stink cleared, he gave up his notions of becoming a playwright and instead wrote up numerous books about his leading man, Socrates. He formed an academy, wherein his most gifted student, Aristotle, studied. Of course, Aristotle formed his own conclusions, most of which differed from Plato's.No philosopher kings for Aristotle! Aristotle's royal pupil was Alexander the Great. "Cursed be all those who rejoice to see the city in the hands of a single man or under the yoke of a few men! The name of a freeman is the most precious of titles: to possess it is to have much, even when one has little." Yes, cursed be Socrates, Plato, and all the "intellectual" petty Hitlers, Stalins, FDRs and other big-government butt kissers since. Although he was well known during his own time for his conversational skills and public teaching, Socrates wrote nothing, so we are dependent upon his students (especially Xenophon and Plato) for any detailed knowledg e of his methods and results. The trouble is that Plato was himself a philosopher who often injected his own theories into the dialogues he presented for any detailed knowledge of his methods and results Socrates Essays -- essays research papers SOCRATES Socrates was a Greek philosopher who lived between 470-399 B.C. He turned Greek attention toward questions of ethics and virtue and away from those of the heavenly bodies. Socrates spent much time in the Agora (marketplace) where he held conversations with townspeople. Socrates believed that real truth could be found out through thought and collaboration with others. He was known for exposing ignorance, hypocrisy, and conceit. Despite having many followers, Socrates was disliked by most Athenians. At the age of 70, he was convicted of atheism, treason and corruption of the young. He was originally ordered to leave Athens, but chose to drink poison instead. This great man valued the law over his life, and so he chose to drank hemlock over leaving. Socrates is best remembered for his courage and strong moral beliefs which manifested themselves in his lifestyle. Although Socrates did not dwell much on the heavenly bodies, his beliefs that searching could bring about understandi ng of the world and humans in it laid a foundation that is still very much a part of modern science. In the course of Western Civilization, there have been two trials ending in a sentence of death imposed upon two individuals later deemed grossly unfair and unjust by the verdict of history. One trial was that of Jesus Christ, the other that of Socrates it was Jesus' destiny, and It was Socrates' choice. Both philosophers and theologians, carry a political message, a message apt to rub the ruling power structure's nose in its own mess. Christ defined and built a new moral order. All Socrates ever accomplished was questioning and probing the democratic beliefs of his day. He refused to define proper behavior and what should be done by government. Socrates did not build anything or write nothing; instead he strove to destroy the legitimacy of free men ruling themselves, Both Christ and Socrates were killed at the orders of lesser men for what they said. The story of Jesus Christ and th e world in which he lived are well known. Now let us look at Socrates, the world's first "intellectual" and the stage he acted upon. Socrates was the town character. While a member of the middle class, he was on good terms with Pericles, the ruling aristocrat voted the first strategos (general) for over 30 years. Socrates, the perfect snob, surrounded himself with the gilded aristocratic yo... ...ted money. Then when the stink cleared, he gave up his notions of becoming a playwright and instead wrote up numerous books about his leading man, Socrates. He formed an academy, wherein his most gifted student, Aristotle, studied. Of course, Aristotle formed his own conclusions, most of which differed from Plato's.No philosopher kings for Aristotle! Aristotle's royal pupil was Alexander the Great. "Cursed be all those who rejoice to see the city in the hands of a single man or under the yoke of a few men! The name of a freeman is the most precious of titles: to possess it is to have much, even when one has little." Yes, cursed be Socrates, Plato, and all the "intellectual" petty Hitlers, Stalins, FDRs and other big-government butt kissers since. Although he was well known during his own time for his conversational skills and public teaching, Socrates wrote nothing, so we are dependent upon his students (especially Xenophon and Plato) for any detailed knowledg e of his methods and results. The trouble is that Plato was himself a philosopher who often injected his own theories into the dialogues he presented for any detailed knowledge of his methods and results

Current competitive strategies of Samsung and Apple Essay

            Both Samsung and Apple are the largest manufacturers of smart phones in the world. Combined, the two technology giants’ account for more than half of the Smartphones sold world wide. Traditional cell phones had very limited computing abilities. Many of them were designed to offer basic services like making and receiving calls. As time went by, the need for mobile devices with superior computing abilities increased as technology became a major part of modern life. More importantly, there was demand for mobile phones that could offer the same services as a computer. Although the mobile phone market was traditionally ruled by companies like Nokia and Motorola, Apple took over the market when it launched its iPhone Smartphone in 2007. This product became very popular with customers due to its large touchscreen and multi-touch user interface. Even though the company dominated the Smartphone market for some time, it has come under increasing competition from Samsung through its Samsung galaxy product line (Apple, 2013). Through massive advertising coupled with unique features, the Samsung galaxy has overtaken the iPhone to become the most popular Smartphone brand in the world. This fierce competition between these two technology giants has resulted in endless court battles in the United States and Europe, among other places. This paper will look at the current competitive strategies used by each company and what each of them needs to do to improve their competitive position in the future. More importantly, there was demand for mobile phones that could offer the same services as a computer. Although the mobile phone market was traditionally ruled by companies like Nokia and Motorola, Apple took over the market when it launched its iPhone Smartphone in 2007. This product became very popular with customers due to its large touchscreen and multi-touch user interface. Even though the company dominated the Smartphone market for some time, it has come under increasing competition from Samsung through its Samsung galaxy product line (Apple, 2013). Through massive advertising coupled with unique features, the Samsung galaxy has overtaken the iPhone to become the most popular Smartphone brand in the world. This fierce competition between these two technology giants has resulted in endless court battles in the United States and Europe, among other places. This paper will look at the current competitive strategies used by each company and what each of them needs to do to improve their competitive position in the future. The current competitive strategy of each company            On top of being bitter competitors in the Smartphone market, Apple and Samsung use different competitive strategies. As the pioneer producer of Smartphones, Apple uses the blue ocean strategy. In the early 2000s, the cell phone market was mainly made of phones with basic applications. This meant that companies assessed what their competitors were doing and strived to improve on it so that they could gain a competitive strategy. Such a strategy was not good for business because it meant trading off cost and value (Mourdoukoutas, 2012). However, Apple decided to create a new demand in a market that no any other company ventured into. This was done through the use of the blue ocean strategy. As noted above, there was no any other company that was producing Smartphones at that time Apple was in total control of the Smartphone market. Within a short time, Apple became one of the most profitable companies in the United States and the world at large (Gustin, 2012). However, Steve Jobs and other senior managers at the company were well aware of the fact that the company was under threat of new entrant due to its profitability. This strategy made the company immune from the porter’s five forces. The main competitive strategy of Apple Inc is developing new and innovative products that blend technology and art.            Unlike Apple Inc, Samsung uses the red ocean strategy. In this type of strategy, a company gains competitive advantage by venturing into an existing market and building on the weaknesses of its competitors. As noted above, Apple was the pioneer company in the manufacture of Smartphones. Through its flagship iPhone product line, Apple rose to become the largest cell phone company in the world. Unlike Apple, the main competitive strategy of Samsung is flooding the market with many products that are developed within a short time. This is very different with Apple which takes a lot of time before it launches a new product into the market. This strategy has been made possible by the fact that Samsung develops many of the components that are used in making its Smartphones. This gives it a huge cost advantage over Apple which relies on external suppliers. However, the red ocean is disadvantageous because it makes a company vulnerable to the porter’s five forces. What each company is doing to improve its current competitive position               There are a number of steps that both Samsung and Apple are taking to improve their current competitive strategies. As noted earlier, Apple Inc dominated the Smartphone market for many years before it was eventually overtaken by Samsung. The loss of market share to Samsung has forced the leaders at the company to come up with ways of improving its competitive strategy. The first step that Apple is taking to improve its current competitive position is focusing more on improving the existing products compared to coming up with new ones (Gustin, 2012). In the past, Apple invested huge sums of money in research aimed at coming up with new and unique products. Moreover, it would take a lot of years before the company released any new products into the market. However, the company pays more attention to improving its existing products. For example, the iPhone 5 did not have any tangible innovation. Instead, the company improved iPhone 4 by increasing its size among other innovations (Travlos, 2012). In addition, the company is investing in developing its components instead of buying from external suppliers. This will help Apple come up with products with unique features compared to their competitors.                  As noted above, the main competitive strategy of Samsung is building on the weaknesses of its competitors. In this strategy, the company waits for its competitors to come up with a product after which it develops its own with improvements on the one of its competitors. The first step that Samsung is taking to improve its current competitive position is investing more money in research. Compared to Apple Inc, Samsung invests 5.7% of its total revenues in research. This strategy is aimed at ensuring the company comes up with unique products so that it may not be seen as a copycat. The second action that Samsung is taking to improve its competitive advantage is investing heavily in advertising. As noted earlier, the main competitive strategy used by Samsung is flooding the market with different types of products that are targeted at different types of consumers. This is a huge contrast to Apple Inc. which releases few but highly anticipated products. To impr ove its current competitive advantage, Samsung has raised its advertising budget to $401 this year compared to $78 last year. This is $68 more than Apple Inc. Likely moves or strategy shifts that Samsung and Apple Inc will make                In the coming years, both Samsung and Apple Inc. are likely to witness shifts in their competitive strategies. Such changes will mainly be necessitated by heightened competition in the Smartphone market and the dynamic natures of the mobile phone market. As noted earlier, the main competitive strategy of Apple Inc. is developing new and innovative products that blend technology and art (Stein, 2012). The company controls the release of new products into the market unlike its main competitor, Samsung. Although this strategy helped the company rise to dominance of the Smartphone market in the early 2000s, there is need to institute a strategic shift. On top of investing heavily in research and coming up with unique products, Apple is likely to start developing a variety of products to meet the needs of different types of consumers. One of the main weaknesses of the current competitive strategy used by Apple Inc. is that it results in products for the rich in th e society. This makes the company miss on the remaining portion of the cell phone market. Moreover, Apple will also need to invest more in advertising.                  Samsung has overtaken Apple Inc. as the largest Smartphone manufacturer in the world. This growth can be attributed to the company’s competitive strategy of flooding the market with many products that are developed within a short time (Haydn, 2013). Moreover, the products of the company are relatively cheap compared to those of its main competitor, Apple Inc. As pointed out earlier; the other main competitive strategy of Samsung is building on the weaknesses of its competitors. In this strategy, the company waits for its competitors to come up with a product after which it develops its own with improvements on the one of its competitors. However, this strategy may backfire in the future because it will make the company to be seen as a copycat. With this in mind, Samsung is likely to shift its competitive strategy from playing second to its competitors to a dominant force in research as well (Powell, 2001). This means that the company will need to i nvest more in research and come up with products that are revolutionary and game changing. However, measures should be put in place to ensure that products don’t take long before being released into the market. Where each company is most vulnerable                The first major weakness of Samsung as a company is lack of innovation in its products. As noted earlier, Samsung thrives by waiting by for its competitors to come up with a product after which it develops its own with improvements on the one of its competitors. This strategy makes the company vulnerable because in future, people may begin to see it as a copycat. The technology industry is very competitive and customers love companies that develop new technologies compared to those that improve on what is already in the market (Powell, 2001). However, this should not be confused to mean that Samsung does focus on innovation, instead it means that the company is less proactive in coming up with new products. The other vulnerability of Samsung is that serves a mass market compared to Apple Inc. which caters for a niche market. The need to attract a large market forces it to set low prices for its products compared to Apple Inc. and this pricing strategy makes the company vulnerable. Although low pricing has helped Samsung win over a large share of the market, it makes the company vulnerable to being seen as offering low quality product by some customers. Many customers, especially in the United States and other developed countries, usually perceive low priced products as of low quality. Finally, lack of creativity makes the company vulnerable (Haydn, 2013). Many of Samsung’s Smartphones do not have a user friendly interface compared to those of its competitors. This may make consumers in places like the United States demand for lower prices therefore affecting the profitability of the company.               As noted earlier, Apple Inc, Apple Inc. does not target the mass market but rather a niche market. The majority of the company’s products are mainly meant for the affluent in the society. Based on this, the first weakness of Apple Inc. is lack of product diversification. Apple has only one product line, the iPhone. This makes the company vulnerable to saturating its small market. Moreover, the failure by the company to segment its market also makes it vulnerable. Some of the most successful companies in the world have products for every segment of the market including the wealthy and the poor. What competitive moves will provoke the greatest and most effective retaliation by each company?               As pointed out earlier in the paper, both Samsung and Apple Inc. have unique competitive strategies. The competitive strategy used by a company is important because it determines its position in the market as well as its profitability. The first move by Apple Inc. that would provoke the largest retaliation by Samsung is the production low end products. As noted earlier in the paper, Samsung has mainly survived by producing different products for different sections of the market (Powell, 2001). Based on this, any move by Apple Inc. to come up with products for the low end market would provoke retaliation from Samsung. The second move by Apple Inc. that would provoke retaliation by Samsung is lowering the prices of its products. Apple Inc. is famous for producing innovative products that blend technology and art. These products are sold at a premium price.               On the other hand, any move by Samsung to come up with revolutionary and game changing products is likely to provoke retaliation from Apple (Haydn, 2013). As pointed our earlier, Apple Inc. has been depending on this strategy since the time it was founded. Any move by Samsung to invade this territory would attract a serious technological retaliation from Apple Inc. Moreover, Apple survives by serving a niche market. Based on this, any move by Samsung to do away with its mass market strategy and adopt a niche market strategy is likely to provoke a serious retaliation from Apple Inc.               My recommendation on whether the two companies should continue with their current competitive strategies or should modify them             The current competitive strategies used by both Samsung and Apple Inc. have both advantages and disadvantages. As noted earlier in the paper, Apple Inc. was the largest producer of Smartphones in the world before being overtaken by Samsung. Based on this I would suggest that Apple Inc. modifies its current competitive strategy so that it can retain its rightful place in the Smartphone market. First, Apple Inc. should consider conducting market segmentation to ensure that they serve all segments of the market (Mourdoukoutas, 2012). Currently, the company only serves one section of the market. My second recommendation for Apple Inc. is that it should consider instituting product diversification. At the moment, the company offers the iPhone product line only. Finally, the company should invest in producing its own components so that it can shorten the time it takes to develop new products.               Likewise, Samsung should consider modifying its current competitive strategy. This is despite the fact that it has propelled the company to the position of number one Smartphone manufacturer in the world. To begin with, Samsung needs to modify its current strategy and lay more emphasis on innovation. If nothing is done, the current strategy puts the company at risk of being seen as a copycat by customers. Secondly, Samsung should modify its current competitive strategy and revise its prices upwards because some customers associate low prices with low quality. References Erica Olsen (2012). Strategic Planning Kit for Dummies, 2nd Edition. John Wiley & Sons, Inc.Gustin, Sam (2012). Why Apple Is Winning: Innovation, Opportunity and Execution.  TIME.com. TIME, 25 Apr. 2012. Web. 05 Nov. 2012. . Haydn, Shaughnessy (2013). What Makes Samsung Such An Innovative  Company? . Forbes. Retrieved from < http://www.forbes.com/sites/haydnshaughnessy/2013/03/07/why-is-samsung-such-an-innovative-company/ > .Web Mourdoukoutas, Panos (2012). Can Microsoft Adopt Apple’s Business Model?  Forbes. Forbes Magazine, 10 Oct. 2012. Web. 15 Oct. 2012. . Powell, Thomas C. (2001). Competitive advantage: logical and philosophical considerations. Strategic Management Journal 22 (9): 875–888 Stein, Scott (2012). IPhone 5 Review: Finally, the IPhone We’ve Always Wanted.†Ã‚  CNET. CNET, 4 Oct. 2012. Web. 05 Nov. 2012. . Travlos, Darcy (2012). Apple: Product Commoditization?  Forbes. Forbes Magazine, 15 May 2012. Web. 15 Oct. 2012. . Source document

Making The Best of Your High School Career †English Essay

Making The Best of Your High School Career – English Essay Free Online Research Papers Making The Best of Your High School Career English Essay The speech from my freshman orientation into high school still rings clear in my head. â€Å"Get involved, get involved, get involved† was the senior class president’s motto for his speech to us that day. With each word he spoke, I knew that in order to make the best of my high school career, I needed to do what he said and â€Å"get involved†. Though budget cuts may be necessary, you as a school board should reconsider the options available for elimination or restriction. Extracurricular activities and programs in drama, music, or art are essential parts of a high school education. Studies have shown that children involved in â€Å"fine arts† such as choir, band, or theater, do significantly better in school than those who don’t participate. Being involved in those activities is more beneficial than just learning the notes or becoming a good flute player, they teach you life long skills. Looking back into my experience in my high school show choir, I learned the most valuable skill of all; I learned about myself. I realized what it means to be a leader, and what it means to be involved in a group. I learned how important it was to consider the group’s best interest, instead of your own. I learned how to stand up for myself, how to stick to what I believe in, and how to be a role model. Show choir was never just about singing. It was about life. If I would have never had that experience, I would not be as mature and well rounded as I am today. These programs are crucial in a teen’s development, and will help them to grow into the person they need to become. Another factor to consider is the necessity of extracurricular activities. Whether it is football, chess club, or National Honors Society, there is an activity for every type of person. Teenagers’ main struggle in high school is fitting in, or feeling like they belong somewhere. Taking away such activities can destroy someone’s self-esteem, or take away that feeling of pride and accomplishment. Their schoolwork will suffer because they feel there is no point in succeeding. Studies have also shown that involvement in extracurricular activities boosts students’ performance in the classroom. The activities teach you about determination, and about meeting the goal or deadline. They help you manage your time better, so you complete the assignment on time without procrastinating. If these programs are eliminated, motivation and success will disappear along with them. Taking away such vital activities and programs does more harm than good. There are other ways to decrease budget than to destroy life-changing skills. Paying an extra fifty cents for lunch makes all the difference in the world if it means kids can still be involved in these programs. You as a school board must realize what will be missing in their lives if they aren’t given the opportunity to participate in extracurricular activities. Let them â€Å"get involved, get involved, get involved†. That senior class president’s words made an impact in my life; I would hate to make him change his speech. Research Papers on Making The Best of Your High School Career - English EssayStandardized TestingTrailblazing by Eric AndersonPersonal Experience with Teen PregnancyEffects of Television Violence on ChildrenHip-Hop is ArtThe Relationship Between Delinquency and Drug UseLifes What IfsResearch Process Part OneHarry Potter and the Deathly Hallows EssayThe Spring and Autumn

Simple sentences, period

Simple sentences, period Simple sentences, period Simple sentences, period By Michael A sentence should contain a complete thought. Once you finish your thought, you can finish your sentence, usually with a period. That makes your sentence more readable too. Yes, its legal in English to use conjunctions to put several thoughts into one sentence. But it takes a special kind of mind to follow the train of thought in a sentence that has two or three thoughts. Maybe some writers dont know when their thought ended, so they dont know when to put the period. They go on and on and make more and more statements and even change the subject, but they dont ever put the sentence to rest and keep on going and going. Technically speaking, to understand a complex sentence, the reader has to parse or diagram the sentence in his or her head. Okay, suppose Im reading a sentence in Rolling Stone. Was that sentence talking about actors, and what are the actors doing anyway, and what the subject of the sentence, and what is the subject doing, and does that word shot mean that somebody got shot or somebody took a shot, and does it refer to the policeman or the actor or the photographer? Pretty confusing, isnt it? So make your sentences simple. Put a period at the end of the thought and leave it there. Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Punctuation category, check our popular posts, or choose a related post below:Passed vs PastDo you "orient" yourself, or "orientate" yourself?40 Idioms with First

Word Order in Spanish

Word Order in Spanish The subject of word order in Spanish can be quite complex, so this lesson should be considered merely an introduction. As you study Spanish, you will encounter a wide variety of ways of ordering words in a sentence, many of them ways that are impossible or awkward in English. In general, Spanish is more flexible with its word order than English is. In both languages, a typical statement consists of a noun followed by a verb followed by an object (if the verb has an object). In English, variations from that norm are used mostly for literary effect. But in Spanish, changes in the word order can be heard in everyday conversation or seen frequently in everyday writing such as that found in newspapers and magazines. Typical Word Orders The chart below shows examples of some common ways of ordering words. Note that in many sentences the subject can be omitted if it can be understood from the context. As a beginning student, you dont need to memorize these word-order possibilities, but you should be familiar with these common schemes so you dont trip over them when you come across them. Type Order Example Comment Statement Subject, verb Roberto estudia. (Roberto is studying.) This word order is extremely common and can be considered the norm. Statement Subject, verb, object Roberto compr el libro. (Roberto bought the book.) This word order is extremely common and can be considered the norm. Statement Subject, object pronoun, verb Roberto lo compr. (Roberto bought it.) This word order is extremely common and can be considered the norm. Object pronouns precede conjugated verbs; they can be attached at the end of infinitives and present participles. Question Question word, verb, subject Dnde est el libro? (Where is the book?) This word order is extremely common and can be considered the norm. Exclamation Exclamatory word, adjective, verb, subject Qu linda es Roberta! (How beautiful Roberta is!) This word order is extremely common and can be considered the norm. Many exclamations omit one or more of these sentence parts. Statement Verb, noun Sufren los nios. (The children are suffering.) Placing the verb ahead of the noun can have the effect of placing more emphasis on the verb. In the sample sentence, the emphasis is more on the suffering than who is suffering. Statement Object, verb, noun El libro lo escribi Juan. (John wrote the book.) Placing the object at the beginning of the sentence can have the effect of placing more emphasis on the object. In the sample sentence, the emphasis is on what was written, not who wrote it. The pronoun lo, although redundant, is customary in this sentence construction. Statement Adverb, verb, noun Siempre hablan los nios. (The children are always talking.) In general, Spanish adverbs are kept close to the verbs they modify. If an adverb starts a sentence, the verb frequently follows. Phrase Noun, adjective la casa azul y cara (the expensive blue house) Descriptive adjectives, especially ones that describe something objectively, usually are placed after the nouns they modify. Phrase Adjective, noun Otras casas (other houses); mi querida amiga (my dear friend) Adjectives of number and other nondescriptive adjectives usually precede the noun. Often, so do adjectives being used to describe something subjectively, such as to impart an emotional quality to it. Phrase Preposition, noun en la caja (in the box) Note that Spanish sentences can never end in a preposition, as is commonly done in English. Command Verb, subject pronoun Estudia t. (Study.) Pronouns are often unnecessary in commands; when used, they nearly always immediately follow the verb. Sample Sentences Demonstrating Spanish Word Order The sentences below  are examples of Spanish as it is most commonly ordered: La atencià ³n a los recià ©n llegados es un reto para las Fuerzas de Seguridad. (Attention to the recently arrived is a challenge for the Security Forces. Here the word order is almost to what you would find in English.) Diagnostican por error una gripe a una joven y terminan amputndole la pierna. (They diagnosed the flu by mistake in a boy and ended up amputating his leg. Here the phrase por error, meaning by mistake, is kept closer to the verb, diagnostican, than it would be in English.) Un coche blanco ser ms fresco en verano. (A white car will be cooler in summer. The adjective blanco, meaning white, comes after the word for car, coche, not before.)  ¿Dà ³nde estn las oportunidades? (Where are the opportunities? In simple questions, English and Spanish word order can be identical.) Es importante que me diga con quià ©n saliste. (It is important that you tell me who you left with. The pronoun object me, me in English, comes before diga, you left,  the reverse of English. And while the English sentence ends with the preposition with, in Spanish con must come before the word here for who, quià ©n.) Key Takeaways Although word order in Spanish is often similar to that of English, Spanish can be more flexible.Among the key differences are  that descriptive adjectives usually follow nouns, and Spanish sentences cannot end in a preposition.Spanish adverbs usually are placed next to or very close to the words they modify.

Effects of Quantitative Easing on Food Prices Research Paper

Effects of Quantitative Easing on Food Prices - Research Paper Example Eventually, this leads to inflation. This paper demonstrates the effects that come about because of employing quantitative easing on food prices. Rise in food prices One of the established effects of quantitative easing is that it results to a rise in food prices. The reason behind this fact is that quantitative easing entails making of more money in order to assist in solving the situation affecting the economy. However, making of more money contributes in undervaluing the present ones in the economy of a country. Therefore, the country tends to experience hyperinflation. The inflation results to a rise in various commodities. Some of these commodities include raw materials associated with the production of food. Rise in raw materials especially in the agricultural sector forces most of the producers to increase the selling price of their products. Eventually the final consumer ends-up buying food at a higher price than usual. In every financial year, food producers tend to look on when they can be able to make more profits from the price of their commodities. Therefore, the producers are forced to increase their prices with an aim of avoiding incurring losses when inflation occurs especially because of quantitative easing (Duncan 162). ... Most of the small-scale farmers stops farming because of rising prices of various agricultural commodities ending up reducing their production. When most of the small-scale farmers fail to produce more goods as expected, the price of food in the market rises. In some cases, most of the small-scale farmers’ stops enacting agricultural related activities because of farming difficulties due to rise in prices of commodities. This creates a high deficit on the farm products hence a rise in food prices. Rise in international prices of raw materials and agricultural products Apart from the small-scale farmers being affected by inflation because of quantitative easing, large-scale farmers also tend to experience the same effects. Apart from the above outlined examples, showing effects of inflation due to quantitative easing, inflation also causes a rise in the import price index. This means that various raw materials related to agriculture like farming inputs that include fertilizers tend to rise in their prices. Some of other imported agricultural inputs that tend to rise in their prices because of inflation include farming machines and chemicals. Moreover, some of the seeds imported from other countries rise in their costs due to inflation. Failure of farmers to access the inputs contributes to low production of food hence rise in their prices. High cost of inputs makes most of the farmers fail to buy much of the products contributing to a decline in their activities. A decline in farming activities means that the production of law materials will eventually be low. This contributes in making the prices of the produced food rise. Rise in cost of activities in food manufacturing industries There is established evidence that inflation cause

Utilitarianism an Unreasonable Happiness Essay Example | Topics and Well Written Essays - 500 words

Utilitarianism an Unreasonable Happiness - Essay Example Indeed there are powerful cultural influences to continue consuming even if it requires going into debt, which happens frequently. If so many people shoulder the unpleasant cycle of indebtedness in order to continue consuming, it seems a shift in the entire paradigm of capitalism based on distant people and the abstract next generation is unlikely. However as an individual who has a deeper understanding of the consequences of wastefulness and pollution, I have a greater ethical obligation to make conscious decisions regarding what I use and discard. There is a deep and vested interest to keep Americans consuming goods and services that they do not need strictly for survival purposes. The growth of the economy depends on many people spending money which drives industry to create more consumables. The most successful marketers are able to tap into and manipulate the aspects of identity that are significant to our sense of well-being. If a dramatic drop in consumption occurred, real and present negative consequences will occur, including many people losing their own job. This is a short term problem compared to the consequences of environmental change; however, drastic change in the average life style of most Americans would cause a lot of unhappiness. A fundamental change would have to occur that shifted economic models away from

Activity Report Essay Example | Topics and Well Written Essays - 250 words

Activity Report - Essay Example From the cooperation, portrayed by all members of the team, all plans indicated in the work plan were achieved as planned. During the first month of the project, the group held a meeting, whose agenda was to outline all the requirements required for successful of the project. All members of the group attended the meeting held at the conference centre and the online meeting. Upon successful completion of the meetings, e-mails containing minutes and roles of each member in the project, were sent to all members to avoid future miscommunications. With the assistance of Sheehan book on ‘Technical communication’, my group has opted for the use of computer skills to make the team’s work easier. Computers have aided in fast and effective communication between members of the group as well as conducting comprehensive research on the requirements of the project. Majority of the members of the group are optimistic that with the use of computers, they will be in an easier position to research on their work, edit and present in a more fashionable manner. Thanks to Sheehan (pp.45) on his work, my group has portrayed the best skills and virtues of team work. We were able to prepare documents as well as print them, thus having an easier time while making the team’s presentations to the

None Research Paper Example | Topics and Well Written Essays - 2500 words - 1

None - Research Paper Example Interest in the coffee developed, with neighborhood restaurants and hotels asking to be supplied too. While the first bistro is no more possessed by Green Mountain Coffee, the organization now keeps up its base camp in Waterbury, Vermont, where it has a 93,000 square foot 8,500 m2 broiling and dissemination office. Green Mountain Coffee Roasters opened up to the world in September 1993 and is recorded on the NASDAQ Global Select Market under the stock image GMCR. In October 2002, Green Mountain consented to an arrangement to offer reasonable exchange coffee under the Newmans Own Organics mark. In 2005, the organization procured Keurig, incorporated, a producer of single container fermenting frameworks (Gasparro. 2015, p. 5). The organization was positioned number one in The Best Corporate Citizens in 2006 and 2007. On November 13, 2009, Green Mountain declared the procurement of the wholesale division of Canadian coffee supplier Timothy World Coffees for $160 million US. On September 14, 2010, Green Mountain Coffee purchased a second Canadian wholesaler, Quebec based coffee administrations organization Van Houtte, for $920 million. Green Mountain Coffee Roasters then sold the Filter new US coffee administration parcel of Van Houttes business to Aramark on August, 29th 2011 for $140 million. On September 28, 2010, the organizations stock rose to an untouched high, yet the organization uncovered after the businesses shut that the Securities an d Exchange Commission has asked for archives and information from Green Mountain Coffee Roasters identified with an investigation into how it represents an income. The organization reported that U.S. controllers had asked into some of Green Mountains bookkeeping works for, including income distinguished, and the vast stock with a solitary merchant, M. Square. Most scholars accept that the organization practices are

Inferential Statistics Essay Example | Topics and Well Written Essays - 750 words

Inferential Statistics - Essay Example In effect the new drug which comes in the form of a pill is believed to be as powerful as a cocktail of several multiple medications. The new drug that has been developed is as efficient as the standard multi-drug regimen. The null and the alternative hypothesis for difference in the efficiency of the new drug as a standard multi-drug regime may be simplified as below: When conducting statistical studies, variables have to be analyzed. In the case of measuring drug efficiency, the researcher may consider the frequency of administering the drugs, and the dosage as independent variables while the dependent variable may be the intensity of the symptoms of AIDS on the patients. The efficiency of a drug maybe defined as the ability of the drug to give particular results without due regard to dosage (Pokrovskii and Kompaniets, 2008). Thus, the: AIDS is a disease that attacks people irrespective of their gender, race, age, and socio-economic backgrounds. While this is the case, it must be considered the ethical and legal implications of using certain elements of the population such as children for certain tests. In order to have a representative sample that will properly and adequately represent the effectiveness of the drug, probability sampling will be employed. In the probability sampling strategy, simple random sampling will be done in which the sample will consist of people who are infected with AIDS. All elements of the samples will be of legal age according to the country’s laws and will be engaged in the tests out of free will. The subjects will be selected by screening them for other diseases; those with composite diseases will be disqualified and only those with AIDS will be considered. In order to establish the true efficacy of the new drug, the test will have to be devoid of experimenter and selection bias (Cortes, Mehryar, Riley and Rostamizadeh (nd). Selection bias in this case is an error

None Research Paper Example | Topics and Well Written Essays - 2500 words - 1

None - Research Paper Example Interest in the coffee developed, with neighborhood restaurants and hotels asking to be supplied too. While the first bistro is no more possessed by Green Mountain Coffee, the organization now keeps up its base camp in Waterbury, Vermont, where it has a 93,000 square foot 8,500 m2 broiling and dissemination office. Green Mountain Coffee Roasters opened up to the world in September 1993 and is recorded on the NASDAQ Global Select Market under the stock image GMCR. In October 2002, Green Mountain consented to an arrangement to offer reasonable exchange coffee under the Newmans Own Organics mark. In 2005, the organization procured Keurig, incorporated, a producer of single container fermenting frameworks (Gasparro. 2015, p. 5). The organization was positioned number one in The Best Corporate Citizens in 2006 and 2007. On November 13, 2009, Green Mountain declared the procurement of the wholesale division of Canadian coffee supplier Timothy World Coffees for $160 million US. On September 14, 2010, Green Mountain Coffee purchased a second Canadian wholesaler, Quebec based coffee administrations organization Van Houtte, for $920 million. Green Mountain Coffee Roasters then sold the Filter new US coffee administration parcel of Van Houttes business to Aramark on August, 29th 2011 for $140 million. On September 28, 2010, the organizations stock rose to an untouched high, yet the organization uncovered after the businesses shut that the Securities an d Exchange Commission has asked for archives and information from Green Mountain Coffee Roasters identified with an investigation into how it represents an income. The organization reported that U.S. controllers had asked into some of Green Mountains bookkeeping works for, including income distinguished, and the vast stock with a solitary merchant, M. Square. Most scholars accept that the organization practices are

The relationship between narrator and a couple Essay

The relationship between narrator and a couple - Essay Example The woman turns her whole life to writing numerous letters in which she analyzes her present and past experience. Beside her terrible and irreplaceable loss she has to deal with one more problem – her personal betrayal. On the day of the incident she was with another man called Jasper, a famous journalist. The woman cannot forgive herself this and cannot understand herself as well. It is Jasper and his girlfriend Petra who are described in the novel from rather unexpected perspective. The very situation itself in which the main heroine finds herself is bizarre- she is in the center of love triangle however, love affairs seem not to bother her anymore. So speaking about topics such popular as terrorism Chris Cleave manages to show it witty yet seriously. He reflects on the themes of loss, sin, betrayal, loneliness, atonement, and hope. He tells the story not from his point of view but from the perspective of the principal heroine: he looks with her eyes and speaks with her word s. That is why the language of the novel is far from sophisticated however it is sad and ironical at the same time. So the principal heroine is the narrator herself while the listener (which is really strange and unpredictable) is Osama Ben Laden. Obviously the relationship between the couple of Jasper and Petra and the narrator are very tense, strange and specific. First and the most noteworthy thing is the psychological state of the narrator itself. Her grief is literally felt through the words, her loss squeezes from every little sentence. It is not only that she carries this toy rabbit of her dead son with her wherever she goes, it is her eyes, her irony, and her constant and unstable self- analysis. She tries very hard not to fall apart and the only weapon she has is her natural sense of humor and her simplicity. She feels real from the very beginning of the novel and even Jasper seems to be attracted with her

West Jet Case Study Essay Example for Free

West Jet Case Study Essay Strengths The greatest strength of WestJet is their brand image. Through their superior customer service, WestJet has become one of the most trusted brands as well as Canada’s preferred airline. (Anonymous, 2011), (marketing weekly news, 2012) One of the most important strengths of WestJet is their ability to provide low fares to consumers because of their low cost structure. (Yannopoulos, 2011) A key strength for WestJet has been the ability to achieve success through a great corporate culture, and using Strategic hiring, training, and rewarding service oriented employees. They understand the importance of top-down commitment by management. (Karp, 2011), (Ostrower, 2012), (Carr, 2011) Weaknesses By only having one size of airplane, WestJet is restricted to number of flight destinations. Consumers may find alternative options such as flying from the United States of America. (Sherlock,2012) Another drawback of having one size of airplanes limits the capacity of flyers. (Karp, 2012) Opportunities There will always be a reason for people to fly whether it’s for business or pleasure and they will always look for the lowest possible cost. In fact WestJet is actually seeing fewer empty seats. (The Ottawa Citizen, 2012) Increase international growth by acquiring more Code sharing partners. (Sorensen, 2010), (Transportation Business Journal, 2012) By agreeing with Bombardier to include smaller turboprop airplane WestJet can expand into smaller domestic markets without the risk of having to increase fees. (Ostrower, 2012), (Cameron, 2012), (David, 2012) Threats With Air Canada not performing so well, the Canadian government might allow foreign up-starts into the market. (Sorensen, 2012) Surface transportation (automobiles, buses, rail transportation) could take away customers for short-haul trips. A recession might slow the amount of people travelling. (Deveau, 2011) Price of oil could increase fees. (Cameron, 2012), (Deveau, 2011) Bad weather could prevent travel to certain destination. Issues Analysis 1. WestJet has been in the industry for over 15 years and has built its reputation giving customers great value by offering low fares with exceptional customer service. 2. Face competition from Air Canada and surface transportation services. 3. With only three kinds of airplane, maintenance cost remain low but WestJet can only offer economy class and can only fly to limited destinations. 4. Even though Air Canada is the leader in this market, WestJet is the favorite among flyers because of their superior customer service and added features (i.e. Seatback TVs, Web check-in, more legroom, etc) Recommended Alternatives I suggest that WestJet go after the business traveler because this segment spends a lot of money and has a high frequency of flying. However, it should not ignore the seasonal or occasional traveler because this is the segment does contribute to the growth of the company and has helped West Jet reach the level it’s at right now. Product: * Air service to 76 destinations in Canada, the United States, Mexico, and the Caribbean. (PR Newswire Association, 2012) * Increase the size of their aircraft and add other international destinations such as cities in Europe and Asia. (Transportation Business Journal, 2012) * Expand to other domestic markets that have not been reached. (Ostrower, 2012) Place: * Online * Travel Agencies Price: * Prices vary depending season, destination, and amount of seats left on the airplane * Domestic Flight (ex. Toronto to Montreal) $155 $200 * Domestic Flight (ex. Toronto to Vancouver) $400 $500 * US Flight (ex. Toronto to Orlando) $175 $400 * Sun Destination (ex Toronto to Kingston, Jamaica) $250 $500 (All prices are quoted for the summer of 2012 through westjet.com) Promotion: * Online * TV * Radio * Billboards * Sponsorship * Loyalty or Rewards programs such WestJet Dollars. (Cropp, 2012), (Braidwood, 2012) Selection of the best Alternatives Product: West Jet should try to increase their market share by getting into the smaller domestic markets. With the agreement with Bombardier to introduce a new set of smaller turboprops (propeller planes) that consumes less fuel and seats a lower amount of passengers is a great fit. This will help West Jet to keep their operating cost low and should keep fares low for the consumers as well. Place: Web booking and travel agencies are the best places to book a flight. Online gives the consumer convenience booking while travel agencies are good for those who prefer to speak a person and/or are uncomfortable booking online. Price: As mentioned above, prices do vary depending season, destination, and amount of seats left on the airplane. With the new smaller turboprops, West Jet should be able to maintain their low fares versus their competition. Promotion: With most people booking flights online, the best promotions should be right on the WestJet.com so that they can help drive traffic to their website. In addition, have special deals emailed to current base of customers or those who book a flight with WestJet. Conclusion I believe the greatest advantage that WestJet has is a positive image from both consumers and employees, they kind of go hand in hand. Because WestJet has great incentive program for their employees, it helps drive home the idea that great customer service is number one. When your front line workers (the ones that have the most interaction with your customers) are treated well and are recognized for their hard work, the company and customer both win. I think their model of low operating costs, between smaller hubs, with only one kind of airplane was a great strategy to get them where they are now. However, I can in vision in the next 10-15 years WestJet stepping up to include a larger airplane that can travel into more foreign destinations because long-haul flights generate the most amount of money. Work Cited Canadas most trusted brands in 2011. (2011). Marketing, 116(6), 17-21. Retrieved from http://search.proquest.com/docview/920212383?accountid=3455 Yannopoulos, P. (2011). Defensive and offensive strategies for market success. International Journal of Business and Social Science, 2(13), n/a. Retrieved from http://search.proquest.com/docview/904511236?accountid=3455 Karp, A. (2011). WestJets VALUE PROPOSITION. Air Transport World, 48(1), 46-50. Retrieved from http://search.proquest.com/docview/839037396?accountid=3455 Ostrower, J. (2012, May 02). Bombardier wins WestJet order for turboprop planes. Wall Street Journal (Online), pp. n/a-n/a. Retrieved from http://search.proquest.com/docview/1010422700?accountid=3455 WestJet; WestJet is canadas preferred airline. (2012). Marketing Weekly News, , 1282. Retrieved from http://search.proquest.com/docview/964463239?accountid=3455 Sorensen, C. (2010, May 31). READY FOR TAKEOFF: WestJets big plans to conqure air canada and then the world. Macleans, 123, 35-35. Retrieved from http://search.proquest.com/docview/757889199?accountid=3455 Carr, D. F. (2011). Westjet cuts costs with crowdsourcing. Informationweek Online, , n/a. Retrieved from http://search.proquest.com/docview/896003391?accountid=3455 WestJet ranks globally as a top 10 airline. (2012, Jul 10). Canada NewsWire, pp. n/a. Retrieved from http://search.proquest.com/docview/1024241175?accountid=3455 Cameron, D., Pearson, D. (2012, Jul 09). Propeller planes, fueled by economics, take off; at current oil prices, props make more sense for carriers than smaller jets. Wall Street Journal (Online), pp. n/a-n/a. Retrieved from http://search.proquest.com/docview/1024003999?accountid=3455 Sherlock, T. (2012, Jun 18). Millions of canadians flying out of U.S. airports. The Vancouver Sun, pp. A.1. Retrieved from http://search.proquest.com/docview/1021240152?accountid=3455 Airlines, aviation; WestJet and korean air launch code-share agreement. (2012). Transportation Business Journal, , 109. Retrieved from http://search.proquest.com/docview/1015618972?accountid=3455 Deveau, S. (2011, Jan 20). Analysts split on investment merits of air canada vs. WestJet; labour talks ahead. National Post, pp. FP.14. Retrieved from http://search.proquest.com/docview/846811799?accountid=3455 Canada; fewer empty seats at WestJet, air canada. (2012, Jul 06). The Ottawa Citizen, pp. E.3. Retrieved from http://search.proquest.com/docview/1024045691?accountid=3455

Has Television Taken Over Photography?

Has Television Taken Over Photography? In the age of television and internet streaming videos, photography is no longer as pervasive a tool of social control as it used to be. Its golden age is now over, since it flourished and died along with the great dictatorships of the 20th Century. In fact, the most eloquent examples of the use of photography as a means to seduce people and annihilate their ability of a critical analysis of reality (in order to submit their will to the goals of a governing elite) can be found in the period between the 1920’s and the 1950’s. It was in such period that the fascist, nazi, and communist propaganda saw in photographers the perfect craftsmen who could transform images, often fake or posed, into messages to convey a particular information about what was going on in their country. In Italy, it was through the pictures taken by anonymous photographers that Benito Mussolini managed to give the people the idea of being part of a great nation, where everybody (intellectuals, sport smen, the Church, the unions, the common men) were proud to demonstrate their faith in the fascist regime[1]. It was through them that he was able to depict the country as a plentiful land, led by a good-hearted man embodying the virtues of the great Roman emperors. Most of those photographers were working for the same institution, the Istituto Luce, a formally independent organism that was actually controlled by the fascist regime. Its purpose was to operate as a modern news agency, but any proof of the disastrous economic and social conditions of many areas of Italy (such as Sicily, Veneto or Sardinia) was withdrew from the press. So, there were no news, if they had to be bad news. Another example of Mussolini’s attempt at distorting reality was the photographic book Italia imperiale (Imperial Italy), published in 1937. The author, Manilo Morgagni, wrote a visual elegy of the virtues of the dictator. In the same period, Adolf Hitler was making a similar use of photography in Germany, especially thanks to the collaboration of Leni Riefenstahl, who later would become one of the most famous artists of the world. The book Schoenheit im Olympischen Kampf (Beauty in the Olympic games), published in 1938, was a collection of her shots of the German youth, taken during the Olympic Games held in Berlin in 1936; it was an instrument of Hitler’s propaganda aimed at celebrating the perfect bodily features that only the pure Aryan race could boast[2]. In this way, German population was given an amount of visual messages that confirmed the superiority of their race, so that there was no questioning about the crimes their leader was committing in foreign countries. On the other hand, Hitler wie ihn keiner kennt (The unknown Hitler) was an homage to the Furher from his personal photographer, Heinrich Hoffmann, and was completely dedicated to him and his private life. It showed a leader ca ressing children and enjoying mountain resorts, depicting him as father and protector on the nation. In the USSR, Iosif Stalin reduced the avant-garde photographer Aleksandr Rodchenko to a mere instrument to convey the perfection of a state working in the best imaginable way, where every movement was preordained and nothing could go wrong. In fact, the usual subjects of Rodchenko were military parades and public meetings, during which everybody had a specific role to play and a proper place to fit in[3]. Moreover, Stalin made a wide use of photomontage to insert his figure in all the topic moments of the October Revolution of 1917, so that the people were induced to think that it was him who actively participated and fought in the process that led to the creation of a land that was supposedly governed by them. Another famous example of the way photography and its manipulation were used to attain the consent of the people is the picture taken by Yevgeny Khaldei in Berlin on May 2nd, 1945. It is the image of a soldier of the Red Army raising the communist flag on the roof of the Reich stag[4]. Since Khaldei arrived too late, when the action had already been accomplished, he asked a soldier to repeat it in order to fix the moment on film, and give Russian population another proof of the power of their leader. Further east, Mao Tse-tung was acting in the same way, one of his preferred photographers being Li Zenghshen, who took also many shots of the atrocities committed by the regime but hid them until the late Nineties, when he thought it was safe to show them to the public without risking to be prosecuted by the communist regime. The above mentioned examples are taken from the major dictatorships of the past century; nonetheless in the 1930’s the greatest democracy of the world, the USA, had a similar approach to photography, although lacking the militaristic vision of the country that characterised the totalitarian regimes. The American government did not make a wide and evident use of photography to make its citizens agree on its political and financial behaviour, but in some occasions documentary images were used as proofs of the necessity of its decisions. The Farm Security Administration, for instance, was founded in 1935 by president Franklin Delano Roosevelt as part of his New Deal program aimed at rescuing the nation after the great depression of 1929. Its goal was to relieve the rural populations from their poverty and many famous photographers (Russell Lee, Jack Delano, Dorothea Lange, Walker Evans among the others) were hired to document their situation, in order to inform about it people li ving in the urban areas. But this project was also meant to provide a visual justification on how and why the government was spending public money, preventing any questioning by the richest part of the population[5]. The best output of this policy was a book compiled by Archibald McLeish, titled Land of the free and published in 1938. In the meanwhile, another way to use photography in order to exert social control was beginning to see the light in the USA. But this one was completely different from the propaganda experienced in Europe, since it was focused on not showing, rather than on showing. It is the case of the 216 nuclear tests held by the Army between 1945 and 1962 (in the desert in the state of Nevada or in the middle of the Pacific Ocean). They were documented by anonymous officials mainly through aerial photography, but the pictures were kept in secret archives till very recently, because the government thought that such experiments might arise doubts in public opinion about nuclear power and the cold war[6]. This attitude quickly developed and expanded to the majority of the nations, prompting governments to prevent their people from looking at what might endanger their consent. A form of undeclared censorship has been watching over photography all the time, and war reporters have been its principal t argets. One of the most recent and outstanding case is the story occurred to a now famous picture taken by Kenneth Jarecke during the first Gulf War (1991). He shot the body of an Iraqi soldier, burnt to a cinder by American bombing while he was retreating with his troop on the Basra road[7]. This picture was published abroad but not in the USA until the war was definitively over, since it might counter the Pentagon’s notion of a technological a war amended of all the atrocities of the previous ones. Nonetheless, nowadays television has taken over the role that was played by photography, and it has become the principal tool to exert social control. Probably, this function is still accomplished by photography only through commercials, but in this case the aim is altering people’s perception of reality in order to influence their needs. The most interesting aspect of this function is that who is sending the message to the public usually does not depict a fake situation as it were real, nor does hide a particular side of it. Most commercials evoke a hypertechnological world or a lost one, like in Marlboro Country’s advertisements, where values and lifestyle are as simple and good as in the good old days[8]. Two opposite worlds that have just one feature in common: they can be reached through the product advertised. This kind of social control is very different from that exercised through propaganda and censorship, but it must be noted that its target is not the citizen as a political individual, but the consumer as a participant in the local and global market. Moreover, there is not such a monopoly of the mass media as the one that is proper of a governing institution, but all the organs emitting messages to control the public are constantly competing against each other to be most visible. Consequently, this particular use of photography requires bigger and more accessible platforms wherefore communicate, such as glossy, fancy magazines and huge city billboards. Bibliography Michael Famighetti: Underexposed, Aperture 173, winter 2003, pages 14-16. Marshall McLuhan: Understanding media, Routledge, 2002, chapters 2 and 20. Martin Parr and Gerry Badger: The photobook: a history. Volume 1, Pahidon, 2004, chapter 6. Ian Jeffrey: Photography, Thames and Hudson, 1981, chapter 9. Li Zhensheng: Red-color news soldier, Phaidon, 2003. Michael Light: 100 Suns, Contrasto Due, 2004. 1 Footnotes [1] See picture 1 [2] See pictures 2 and 3 [3] See picture 4 [4] See picture 5 [5] See picture 6, by Dorothea Lange [6] See pictures 7, 8 and 9 [7] See picture 10 [8] See picture 11

Pips Growth in Great Expectations :: Great Expectations Essays

Through the novel Great Expectations, it is seen that Pip’s personalities change. He seemed to be immature at the start but in the end he turned out much different and yet also the same. It seems to me that he changed because of those surrounding him and the influence they had on him. The most influential characters were Estella and the Magwitch. Pip at first was very uneducated and had not a clue of his social class or that there even was a social class, so he was content with what he had. As his life went on he met new people from both higher and lower social classes. From here his satisfaction turned to greed and shame, as he longed to be better educated. Pip does learn later on that having money and power and being in the high social class is not as important as having true friends, even if they are lower class. One of the first influential people around him was Estella. She always insulted Pip, yet he fell in love with her. Of course, over time he started to feel ashamed of himself, and of his roots, and he then longed to be a gentleman. Estella overall was a very poor influence on Pip because she was never supportive of him. Pip should have been around people that lifted him up and encouraged him to tell him what he needed to hear. The second is when Pip came across a convict that forced him to steal food from his sister. It is uncovered later that the convict is Magwitch, who for years he had been secretly saving money for him. When Pip is given this money he is finally able to live a gentleman’s lifestyle. This is a great influence given from the Magwitch. However, this only has a physical influence on Pip. Even though Magwitch caused Pip to feel guilty for stealing food, he came back and proved himself a noble character. When Pip sees that his helper was a convict, he realizes that the money he got was a man of a lower social class than himself. This made him feel inferior. But as time went on Pip got to know Magwitch better, he began to see that even people of the lower class can be gentlemen and friendly. Pip's Growth in Great Expectations :: Great Expectations Essays Through the novel Great Expectations, it is seen that Pip’s personalities change. He seemed to be immature at the start but in the end he turned out much different and yet also the same. It seems to me that he changed because of those surrounding him and the influence they had on him. The most influential characters were Estella and the Magwitch. Pip at first was very uneducated and had not a clue of his social class or that there even was a social class, so he was content with what he had. As his life went on he met new people from both higher and lower social classes. From here his satisfaction turned to greed and shame, as he longed to be better educated. Pip does learn later on that having money and power and being in the high social class is not as important as having true friends, even if they are lower class. One of the first influential people around him was Estella. She always insulted Pip, yet he fell in love with her. Of course, over time he started to feel ashamed of himself, and of his roots, and he then longed to be a gentleman. Estella overall was a very poor influence on Pip because she was never supportive of him. Pip should have been around people that lifted him up and encouraged him to tell him what he needed to hear. The second is when Pip came across a convict that forced him to steal food from his sister. It is uncovered later that the convict is Magwitch, who for years he had been secretly saving money for him. When Pip is given this money he is finally able to live a gentleman’s lifestyle. This is a great influence given from the Magwitch. However, this only has a physical influence on Pip. Even though Magwitch caused Pip to feel guilty for stealing food, he came back and proved himself a noble character. When Pip sees that his helper was a convict, he realizes that the money he got was a man of a lower social class than himself. This made him feel inferior. But as time went on Pip got to know Magwitch better, he began to see that even people of the lower class can be gentlemen and friendly.

International Relations Relating to Humanitarian Intervention Essay

In the following essay I will discuss aspects of international relations relating to humanitarian intervention and how they affect a nation’s responsibilities in the international arena. I will be drawing parallels to historical examples of intervention and to recent world events. I will inspect the classical realist notion of non-intervention and sovereignty and another newer line of thought, more adapted to the modern system. What I hope to bring forth in this paper is a clearer understanding of the situation and the responsibilities of the actors in current international relations in regard to humanitarian rights and intervention. Today the world stands more connected than ever before in human history. Nations form economic empires. Lines of trade run intertwined. Influence and interests span the globe. Power is global. With this brave new world come new responsibilities. No longer, can state sovereignty, force rigid impenetrable boundaries between states and command sole responsibility for their citizens. But still national sovereignty in classical international law is untouchable. With the philosophical roots of international relations established with the treaty of Westphalia 1648 (Plant 1995: 190) According to it all sovereign rulers have absolute authority within their nations and no state has the right to intervene in the domestic matters of other sovereign states. This idea has been the very building block of modern international relations since 1945 and the establishment of the UN. The UN Charter clearly prohibits the use of force in international relations to threaten the â€Å"territorial integrity or political independence of any state â€Å"(United Nations 1945: Chapter 1 Article 2.4). This idea is so concrete in i... ...tract=462523 [Accessed 15 March 2011] Plant, R. 1995 ‘Rights Rules and world Order’ pp 190-218 in Desai, M and Redfern, P. (eds.) Global Governance: Ethics and Economics of the World Order, London: Continuum Publishing Slater, J and Nardin, T. 1986 ‘Nonintervention and Human Rights.’ The Journal of Politics, 48(1):86-96 Stacy, H. 2007 ‘Humanitarian Intervention and Relational Sovereignty,’ pp 89-104 in Lee, Steven P. (Ed.) Intervention, Terrorism, and Torture: Contemporary Challenges to Just War Theory, New York: Springer Thomas, C . 1994 ‘Human Rights and Intervention: A Case for Caution.’ Irish Studies in International Affairs, 5:15-28. United Nations, 2011. Charter of the United Nations 194,. [Online] Available at; [Accessed 09 March 2011]. Walzer, M. 1977 Just and Unjust Wars, New York: Basic Books

Accounting Practice †Pa1 Essay

Question 1: a. 2 b. 2 c. 1 d. 2 e. 1 f. 2 g. 3 h. 3 i. 1 j. 2 k. 1 l. 3 m. 2 n. 2 o. 3 p. 4 q. 3 r. 1 s. 1 t. 2 u. 3 v. 4 w. 4 x. 1 y. 2 See more: The stages of consumer buying decision process essay Question 2 a. Potential tax issues related to the payment Erin received in August: 1) For Erin: âž ¢ Based on the information provided, Erin’s employment with CCC was terminated in July 2009 and Erin was informed on July 31, 2009. Thus  the payment Erin received in August is considered as pay in lieu of termination notice. Therefore, it is taxable income and should be reported as employment income in her tax return. But it seems that the amount of $9500 she received is net of tax amount (her total before tax salary for two moths is $12,000). She should contact CCC to get a T4 slip so that she will not be double taxed on $9500. 2) For CCC: âž ¢ Since the payment is related to pay in lieu of termination notice, the correct way that CCC should have done was to deduct income tax, CPP, EI and provided a T4 to Erin. And CCC should pay EHT on that payment too. But Worldwide actually paid the termination pay, CCC failed the responsibility of withholding the income tax, CPP and EI and paying EHT for that payment. No deductible expenses should be charged on CCC’s book. 3) For Worldwide: âž ¢ It seems that Worldwide withheld $2500 from Erin’s termination pay (total before tax salary $12000-net paid amount $9500), which might be charged under income tax payable and others deductions per USA tax act. From Worldwide’s perspective, the payment is deductible expenses. But in fact, since Erin is the employee of CCC, the payroll should be paid through CCC instead of Worldwide. In other word, income tax should be paid to Canada instead of USA. Erin mentioned that the payment was meant to be non taxable since it was somehow related to RRSP, which can not be applied to pay in lieu of termination notice. If the severance pay or retiring allowance were paid to Erin, the portion of payments may be transferred to an RRSP under certain conditions and the amount transferred to RRSP is tax free. But in this case, Erin has done maximum contribution on her RRSP. Beside, if Erin worked for CCC more than 5 years and CCC’s payroll is at least 2.5 million, or severed the employment of 50 or more employees in six months period, CCC is also responsible to pay severance pay to Erin, which is taxable and should be added to salary income. But CCC does not have to pay EHT for severance payment. b. Memoranda Date: xxxx, 2010 To: EHS audit manager From: Ryan O’ Leary, EHS Kitchener office Subject: New issues for audit plan at CCC Dear xxx, Contacted by a colleague from our Vancouver office, I am surprisingly aware of that several CCC’s employees have been terminated and termination payments have been paid from CCC’s parent company, Worldwide Connections Inc, which is a US company. The employees have been told that their termination was due to cash flow problems of CCC. Based on the above information and the fact that we didn’t notice any unusual things during our review of 20Ãâ€"9 T4s for CCC, I would like to draw your attention to how the information received might affect the audit plan and other concerns related to ethical issues. a) First of all, the control risk should be planned higher based on the following facts: âž ¢ CCC should be the one who pays the termination fee and issue T4s to terminated employees but they failed to do so. Instead, their USA parent company paid. It might because the management has no knowledge of this, which they supposed to have or because they intended to do so. Therefore, the integrity of the management seems to be a problem. âž ¢ Cash flow problems: several employees have been terminated due to cash flow problems and their USA parent company helped CCC to pay the  termination payment. It seems that it is the truth that CCC does have problems of cash flow. Beside these factors, examining the following financial ratios would help us to detect the cash flow concerns: i. Quick ratio: (current assets-inventory)/current liabilities: it gives a more rigorous assessment of CCC’s ability to pay its current liabilities. If a quick ratio is greater than 1.0, then CCC has sufficient cash to meet their short-term liabilities. But low or decreasing quick ratio would be a good sign of cash flow concern. ii. OCF ratio: cash flow from operation / current liabilities, this ratio would measure how well current liabilities are covered by the cash flow generated from CCC’s operations. If the ratio is less than 1, it is an indication of cash flow concern and the smaller the ratio is, the bigger the concern. iii. Short-term debt coverage ratio: operating cash flow/ short-term debt, this ratio would measure how well the short-term debts are covered by the operating cash flow. iv. The capital expenditure coverage ratio: operating cash flow/capital expenditure, this ratio compares a company’s outlays for its property, plant and equipment to operating cash flow. A positive difference between operating cash flow and capital expenditures defines free cash flow. Therefore, the smaller this ratio is, the less cash assets CCC has to work with. v. OCF/Sales ratio: this ratio, which is expressed as a percentage, compares a company’s operating cash flow to its net sales or revenues, which tells CCC’s ability to turn sales into cash. The greater the amount of operating cash flow, the better. There is no standard guideline for the operating cash flow/sales ratio, but obviously, the ability to generate consistent and/or improving percentage comparisons are positive qualities. It would be a concern to see CCC’s sales grow without a parallel growth in operating cash flow. Positive and negative changes in CCC’s terms of sale and/or the collection experience of its accounts receivable will show up in this indicator. b) The audit risk needs to be planned to a lower level based on the higher control risk. Therefore, the detection risk has to be lower to reach the acceptable level of audit risk, which means more samples and substantive procedures need to be performed especially on payroll cycle and balances and transactions related to cash flow. c) Potential ethical issues that might affect our audit plan: âž ¢ Integrity of CCC’s management: like I mentioned previously, it is reasonable doubt for CCC’s management’s integrity due to the fact that they failed to collect income tax and other deductions for the employees worked in Canada and had their USA parent company paid. The management either intended to do so to try to hide the cash flow problem or lack the knowledge of knowing their responsibility of collecting income tax and pay EHT when they make termination payment. Besides, when the time we did review of T4s, we were not told by the management the termination and payment from USA Company. Therefore, I would like to recommend to interview with the management first to understand what their intention was and interact with the higher level of management if necessary. If no correction can be agreed upon or no cooperation from the company, then involve CRA and audit committee. âž ¢ Due care /competence of our audit team: based on the fact that several employees have been terminated and nothing has been found unusual during our T4s review, it seems that due professional care and competence of our audit team is also questionable. I would like to recommend that not only use more experienced auditors, but also remind the team that perform the job with due dare to avoid unnecessary undetected misstatements. I look forward to discuss the details with you! Sincerely, Ryan Question 3 a. A Memo to Albert Desrosiers: Memoranda Date: Feb 18, 2007 To: Albert Desrosiers, Audit Manager, Morrison and Associates From: Wei Liu, CGA, Audit Manager, Morrison and Associates Subject: Assessment for financial position and audit at Prime Restaurant Suppliers Ltd (Prime) Dear Albert, Upon your request, I have analyzed Prime’s financial ratios and the balance sheet and reviewed the audit work done by Paul. I would like to discuss the following issues with you: i. After analyzed and evaluated Prime’s financial ratios and the balance sheet, the following are the problem areas that could impact the nature of the audit work required thus need our special attention: âž ¢ Inventory: it has increased significantly over the past two years, 27% in 20Ãâ€"6 and 35% in 20Ãâ€"5. And inventory turnover has dropped 0.6 from 3 in 20Ãâ€"5 to 2.4 in 20Ãâ€"6. It is an indication of either excessive inventories or ineffective buying or misstatements of valuation in inventory. Substantive procedures would be required to make sure the assertions of existence, valuation, ownership are fairly presented. Performing test counts of inventory should be done more cautiously. âž ¢ Accounts receivable: It increased 8.7% in 20Ãâ€"6 and 43% in 20Ãâ€"5. And receivables turnover has dropped 0.4 in 20Ãâ€"6 and dropped 0.6  comparing to industry average. Meanwhile, the average collection period has increased 16.8 days, which increased 21%. However, sales only increased 1.3% in 20Ãâ€"6. All of these indicated that the collection of accounts receivable is questionable and Prime’s credit policies might not be efficient or the allowance for bad debt is not adequate. Therefore, more positive confirmation of accounts receivable might be necessary to ensure the existence and valuation; review allowance for doubtful accounts to make sure whether it is adequate; review aged AR report; review credit and collection policies; perform cut-off procedures and so on. âž ¢ Sales: Even though sales have increased in 20Ãâ€"6 by 1.3% and 16% in 20Ãâ€"5, but net income dropped significantly by 47% in 20Ãâ€"6 and 0.3% in 20Ãâ€"5. And gross margin has dropped 4.5% in 20Ãâ€"6 and 8.9% lower than industry average. Net margin has dropped by 2% in 20Ãâ€"6. When interest expenses are lower than prior’s years due to lower bank loans and mortgage and term loans and other operating expenses has no signs of increase, the reason for higher sales but much lower net income (before tax) are focused to costs of goods sold. Again, we need to take extreme cautions to make sure that existences, valuation, ownership of inventory are fairly presented. On the other hand, more procedures need to be done to make sure the revenue recognition is reasonable. âž ¢ Cash flow/accounts payable-inventory: it has no balance recorded on the balance sheet for cash. Even though Prime’s current ratio is 1.19, but quick ratio is only 0.65. Even worse is that accounts receivable is not dependable due to potential collection problem or overstatement. Accounts payable-inventory has increased 37% in 20Ãâ€"6, plus other current liabilities, Prime is facing a serious cash flow problem. The significant increase in Accounts payable-inventory pointed out again the problem of inventory, either excessive inventory has been obtained or ineffective buying has been happening. Substantive procedures should be performed cautiously on accounts payable-inventory to make sure its valuation, existence. Positive bank confirmation should be obtained. âž ¢ Income tax payable/future income tax liabilities: income tax payable has decreased 81% in 20Ãâ€"6 but future income tax liabilities increased 4.7%. In total, it decreased 40% while net income decreased 47%. Examining the computation is necessary to make sure fair presentation of these two figures. ii. With respect to Paul’s recommendation regarding the audit report, I have the following different opinions: âž ¢ I don’t agree that Paul restricted subsequent evidence accumulation to Prime’s accounts receivable and inventory. From part I analysis of financial ratio and the balance sheet, we know that Prime has a high control risk in accounts receivable and inventory, therefore, we can not restrict subsequent evidence accumulation. Controversially, sufficient evidences need to be collected to allow the audit risk lower to an acceptable level. âž ¢ Paul concluded from what he could observe that internal control were present and appeared to be operating as intended. This is not correct. First of all, internal control has to be tested whether we rely on it or not. Secondly, Prime only did review engagement for prior years and never be audited. And an audited financial statement is needed for Prime’s loan approval process thus the management has the motive to manipulate the statements to get the loan. Plus concerns showed from their financial ratios and balance sheet, including high increased inventory, AR, AP, cash flow problems, all of these facts indicates that we are facing a client with high control risk and inherent risk. Internal controls have to be tested. âž ¢ Paul concluded that changing of LIFO accounting from FIFO has no big impact on income statement and balance sheet due to consistent inventory cost over the year. That is wrong. The inventory was increased significantly over two years, which means the cost of inventory in 20Ãâ€"5 could be very different comparing to 20Ãâ€"6. More importantly, if LIFO is allowed used in 20Ãâ€"6, a retroactive procedure need to be done for previous year’s financial statements. âž ¢ Paul instructed the other assistant to ensure that goods shipped in the last few days of the year were recorded in sales. The shipped goods to customers is not the only criteria that we can recognize the sales. We need to make sure other criteria also presented, such as the amount can be measured and collection is reasonable assured or an allowance of bad and doubtful accounts is properly set up. âž ¢ 10 confirmations for AR have been sent out. I am not quite sure what this number are based on. But if it is just a random number, no sample size and materiality was put into consideration, it is not appropriate number. âž ¢ Paul believed that testing was sufficient for him to issue unqualified audit opinion. Based on all above mentioned disagreement, this conclusion is certainly too early to make. More substantive procedures need to be done. Evidences collected so far is not enough to make conclusion. iii. Other issues: âž ¢ Without permission from Mrs.Ruenstein, who is the owner of GoodFood Manufacturing, Paul showed Marvin a copy of GoodFood’s financial statements and advised him about Mrs.Ruenstein’s plan to retire. This is violation of confidentiality policy. I think we should advise Paul and inform GoodFood as soon as possible and explains the situation. Even though it might benefit the both parties, we still need to prepare for GoodFood’s complain/lawsuit. I look forward to hear from you and discuss more in details. Sincerely, Wei Liu b. Prime should consider the acquisition of GoodFood mainly based on the following facts: âž ¢ They are in the same industry but focus on  different customers. By acquiring GoodFood, Prime can expand its business into larger restaurant market. âž ¢ Prime’s strong sales team has been successful in generating leads to attract new customers. Therefore, it meets Mrs.Ruenstein’s desire to invest additional effort to build up sales levels. âž ¢ GoodFood has plenty of excess capacity that can compensate Prime’s shortage of cash flow and other capacity. The concerns about financing the purchase: Prime might have difficulty to obtain a long term loan to finance its purchase based on its current financial position. Even though Prime has increased sales in 20Ãâ€"5 and 20Ãâ€"6, but net income has dropped 47% in 20Ãâ€"6. It has large and increased current liabilities but has no reliable cash flow to depend on. Inventory is excessive, and AR’s average collection period is dropped. Return on total equity has dropped to 6.7% from 13.6% due to big drops in net income. All financial information is negative and can not support its financing request. However, if Prime can conquer the storage constraints and change back to FIFO accounting, it might be a big difference. Its cost of goods sold would dropped and net income would be increased! Question 4: A Letter to Board of Directors: Wei Liu, CGA Xxx Audit and consulting Firm Board of Directors, Townsville Recreation Centre (TRC) Date: December xxx, 2009 Dear Board members, It is my great pleasure to be in the position of providing my opinions regarding the creation of TRC and upcoming transfer of the recreational  facilities from the municipality to TRC. The following you will find the discussions related to that and other issues requested by you, including the proposal for the social media site. âž ¢ Creation of TRC and transfer of the recreational facilities from the municipality: o As what we all understand, the purpose of creating another independent legal entity, TRC, is to getting better information for decision making; to offer a wider range of lessons and activities on a cost-effective basis. It is agreed that Townsville would transfer not only all existing properties of the recreational centre operations and any related debt, but also all employees of the recreational centre. Therefore, from the financial perspective, TRC will record all transferred properties at fair value, record all related debt for remaining balance per bank’s confirmation, including unpaid accrued interests. A deferred capital contribution would be used to reflect the funding from Townsville. As for all employees being assured that they would still be eligible for pensions as well as health and insurance coverage, the board need to make sure the details of the pension plans need to be discussed and prepared to accommodate old employees and new employees and make sure the pension policies and procedures as well as health and insurance coverage policies and procedures are in place. It is better off for TRC to consider only offering the defined contribution pension plans to employees instead of defined benefit plans since the first one is less cost and less burden on TRC. The cost to cover the pension plans and coverage should also be planned and budgeted. âž ¢ Accounting policies, format of the financial statements, and information necessary for decision making: o After transfer, TRC would be an independent non-for-profit legal entity. Therefore, all accounting policies need to be compliance with GAAP-general accepted accounting principles from CICA Handbook. PSA (Public sector accounting) Handbook will not be appropriate any more. TRC should determine and disclose which method is used for revenue recognition, either deferred method or the restricted fund method. The restricted fund method would be more suitable in  TRC’s situation since TRC receives subsidies for low-income individuals as restricted funding. Separate reporting on this restricted funding would be benefit for users, including Townsville to better understand the statements. And other significant accounting policies, such as accounting for capital assets and donated materials and services, use of estimates etc should be determined and disclosed. o As for the format of financial statements, according to the GAAP, normally it include: Statement of financial position; statement of operations; statement of changes in net assets; statement of cash flows. o Information necessary for decision making: the board should obtain information not only from financial perspective, such as summary on TRC’s financial position, implication of current economic, government’s budget plan; but also non financial performance reports, such as whether TRC would be actually offering more lessons and activities on a cost effective basis. âž ¢ Requirements of the information technology system: o Although it is costly to invest a new information system, but without it, it is much harder to produce useful and more reliable information to assist management operations effectively and efficiently. The new information system should not only record basic accounting information, but also produce information, like costs and revenues preparation between budgeted amount and actual amount; required funding reports; data for performance measurement etc. Also the board should ensure that policies and procedures for data integrity and security, IT supports, training for skilled personnel are all in place. âž ¢ Implications of the change in employment: o As part of transferring agreement, all current employees of the recreational centre will become employees of the TRC and they will be still eligible for pensions and health and insurance coverage. Therefore, all income tax, CPP and EI have been contributed will be considered as contributed under TRC. For those employees who are nearly retiring, they can  chose move their pension plan to TRC or leave it. And they can start to withdraw once their age reached to the defined age in the pension plan. âž ¢ Independent contractors and employees: o From the tax’s point of view, making a distinction between independent contractors and employees is very important since for independent contractors, they are responsible for reporting business income for their tax return. TRC has no responsibility to withhold income tax, CPP and EI for them and do not have to provide same benefits to contractors as employees have. TRC also do not pay EHT for amount paid to independent contractors but need to pay EHT for remuneration paid to employees. o The factors to consider for distinctions between independent contractors and employees: ââ€" ª Controls: Generally, in an employer-employee relationship, the employer controls, directly or indirectly, the way the work is to be done and the work methods used. But the contractors controls if he/she has the right to hire or fire, and decide where, when and how the work will be done. ââ€" ª Ownership of tools: if it is employer-employee relationship, the employer generally supplies the equipment and tools required by the employee; also employer covers the cost of repairs, insurance etc for using of tools. ââ€" ª Chance of profit/risk of loss: the employees are entitled to his or her full salary or wages regardless of the financial health of the business, the employer alone assumes the risk of loss. But for contractors, all risks are his/hers. ââ€" ª Integration or organization test: the tasks performed by employees form an integral part of the business but tasks performed by the independent contractor merely being accessory to the business. âž ¢ Revenues: TRC’s revenues include subsidies provided by the Townsville, membership fees, registration fees and rental fees. To maximum the revenues, I would like to recommend: o Subsidies from the Townsville: to be eligible to get the funding, TRC will have to provide complete listings of names, income levels, and subsidies provided. This information has previously been tracked through  Townsville’s accounting system. Therefore, TRC could use the same system and maintain the same reporting to ensure maximum subsidies funding. o For memberships are provided free of charge to families below a specific income level, the membership fees are actually covered by subsidies funding, revenue should be recognized even through the funding not yet received and fund receivable from Townsville could be set up. o Registration fees: under the municipality’s management, often the lesson was run at a loss due to under enrollment or a higher than anticipated number of subsidized registrants. Therefore, the board should enforce the management in TRC to implement a better budget system to budget the registration fees and number of enrolment. The board and the management should work on strategies of getting more people to sign the lessons and activities. Meanwhile, TRC should consider setting up a policy that maintains the right of cancellation of lessons/activities in the case of enrollment not covering the cost. o Rental fees: rental of the facilities is scheduled only around the times that the facilities are open to members and the general public, thus the rental income is limited due to time restraints. The board should consider a plan to expand available time for rental and fully use the facilities to maximum the rental income. âž ¢ Performance measures: o I understood that TRC would evaluate employees’ performance partly based on measures that are reflective of the mission statement objectives. Therefore, the board should be provided with performance reports that can help you to define the mission statement objectives have been met. The list below should be considered for performance measures: ââ€" ª The number of lessons/activities offered ââ€" ª The type of lessons/activities offered ââ€" ª The number of attendants for each type of lessons/activities ââ€" ª newly developed lessons/activities offered ââ€" ª Attendants for new lessons/activities ââ€" ª Number of individuals received subsidies ââ€" ª Type of lessons/activities offered to low-income families ââ€" ª Cost and revenue for each type of lessons/activities. âž ¢ Internal controls for Cash: o It seems that the internal controls for cash were not quite adequate due to the fact of theft of cash. To ensure this not continually happening in TRC, the board should make sure better internal control polices and procedures for cash management are in place, such as: segregation of duties for collecting and recording and bank reconciliations; more frequent cash deposit; proper authorizations, etc; the board should also make sure the implementation of the controls will be happening. âž ¢ Auditor for TRC: o According to Canadian auditing standard, we can not accept audit engagement if we provide non-assurance services, such as accounting and bookkeeping services; valuation services; internal audit service; financial information systems design or implementation services. Based on the fact that we are now providing the consulting services not relating to those, we will be able to provide audit service to you. As for the fees schedule, we need to follow a standard fee schedule. âž ¢ Proposal of the social media site: o The social media site provides many benefits for TRC to expand. While building up the site is necessary, many things need to be taken into consideration, especially when it is related to confidentiality and safety of information. It is not appropriate to publish the lists of all people being subsidized because it might violate the confidentiality policy; also to be able to keep the information collected safe, including client’s credit card number, the site has to be maintained under certain security to ensure data security. Besides, the board need to make sure whether there are skilled or enough personnel to maintain the site. More importantly, the board need to evaluate the overall costs to make sure that TRC does have the capacity to run this media site in a cost effective manner. If you need more clarification, please feel free to contact me. I would be happy to discuss more details with you. Sincerely, The end of assignment 8