Business Case Study Essay

A report on investigation into Business Case Date: May 02, 2013 Acquainted with your Business situation. I see a few problems within your business. One of the problems is changes in economic environment, which lead to conflict between stakeholders. The other problem is change of business structure. A success factor for any business is to analyse and understand the external environment in which it operates. Understanding of different types of stakeholders within business is essential too. To analyse business situation various method can be used. To analyse your current business situation I have used SWAT analyse which will give you opportunity better understand external environment and how it can impact your business. And will help you better understand conflict between stakeholders. The most basic SWOT analyse will examine how threats and opportunities can be dealt with while allowing the organisation to utilise its strengths and weaknesses to meet its key success factors [objectives]. A basic SWOT analysis should include an assessment of where the company is at current time and where it wishes to be at some point in the future . The organisation also needs to decide how far away that future is-it will vary from a few month to many years depending on the organisation, the nature of the business and its current situation (B 120, Book 1). SWOT analysis for the The Lodge Bistro Chain Strengths New IT system Initiative management stuff Possibility to adjust to changes Name and business recognition| Weaknesses Informal structure High stuff turnover Inconsistency in standards | | | | | | | | | | | | | | | Opportunities New consumers base Reinstate some formal structure and rules| Threats Complete loss of concept Lose of standards Competition External economic environment| | | | | | | | | | | | | | | | | As you can see from analyse above that the strengths will be recognition of your business and possibility of the business to adjust to new economic environment as you have initiative management team as it is described in Business Case: As an example of these issues, the young manager of one of the cafes in a central urban location began to offer a range of less expensive snacks to cater for diners on low incomes and reduced packaging to respond to the environmentally friendly principles of many customers. Another, in an area close to an office complex, offered a range of healthy eating options. It clearly shows that you have opportunities to attract new consumer’s base. Reinstate some formal structure and rules will give you better opportunity to control business Weaknesses arise from high stuff turnover, as you spend time, recourses for educating stuff. I think it would be beneficial to investigate why they leaving and looking for benefits packages you can purpose to your stuff And main threats arise from losing standards, huge competition and economic environment. For future I would purpose you to use methods like SWAT, STEEP and analyse of stakeholders before making any changes. Would be beneficial to make SWAT analyse on the way business was in 80’s and use it as comparison to current situation. It will give you opportunity to reinforce some formal structure more successfully. References The Open University (2006) B120 An Induction to business studies, Book 1, What is a business? ’, Milton Keynes, The Open University, page 95.

Nonverbal Communication in an Emergency Room

For this project I had to decide upon and visit an environment that I would not normally be in. This environment had to be different from my normal and more comfortable surroundings, in which I thought the nonverbal communication patterns would differ from my own. I made my observations over two days. The environment I chose to observe was an emergency room waiting area. I chose this because I figured the people that I would be observing would not necessarily be very different from me, but I figured that they would be in a different emotional state then I was. I was just an observer in the emergency room while everyone else was there because of some sort of serious medical issue. During my observations I tried to identify any emblems, adaptors, affect displays, eye gaze patterns, regulators, and illustrators and interpret why they might be occurring and what they mean. I also studied and interpreted the impact of the environment itself and what effect it might have had on the people in it. I took a seat toward the back of the room to get the largest possible view of the waiting room. The overall feeling was fairly comfortable and it was not intimidating. The first thing I noticed was that the lighting in the waiting room was dimmer than the lighting in the rest of the hospital. It seemed like mood lighting to me and compared to the fluorescent lit rooms in the rest of the hospital it was more relaxing. The wall facing the outside was basically a wall of tinted windows looking into the parking lot. The windows were tinted to let in a comfortable amount of sunlight without it being too bright. I think the goal was to allow as much natural light in as possible. This would be a good idea in a waiting room because the windows can help reduce the feeling of being â€Å"stuck† there. There were a couple televisions mounted on the wall. Obviously, these were put there to help waiting patients and visitors pass the time. But I would also argue that the televisions were placed there to make the waiting room more familiar and comfortable like someone’s living room. The color of the wallpaper was a very dull, khaki, color. I think that color was picked because it is a neutral color that would not evoke any emotion. Another thing I took note of was how the seating arrangement was laid out. The room was a rectangle shape. The chairs lined the walls and outlined the shape of he room. Other chairs were placed in the middle of the room around a couple of coffee tables. It didn’t seem to make sense at first. However, the more I stared at it, the more it made sense. The chairs seemed arranged to accommodate the different types of groups that would be sitting there. Some rows were long and straight without any other rows opposite them, which I thought would be suitable for somebody waiting alone and might not want to be facing any strangers and keep to themselves. Other rows were arranged to give you the option to sit face to face with someone. There were also some rows that were arranged in a square facing each other but further apart, possibly so that if you wanted to talk to somebody you didn’t know, you had the option to do so, without it feeling obligated or awkward. At the end of the rectangle-shaped room, in the back left and right corners, were two additional areas. One was a â€Å"family consultation room† and the other area was the â€Å"children’s play area. † These two environments differed from the rest of the waiting room. The children’s play area was in the corner and was made to be a fun environment. There was a small, pink, round table with four matching chairs. The ceiling dropped down and was lower than the rest of the room as you entered the play area. I felt this made it cozier for children because the ceiling height was more in proportion to a smaller child’s height. The paint on the walls changed also. It had the same color wall as the rest of the waiting room but there was a big, blue, zigzag pattern that started half way up the wall and wrapped around the perimeter of the play area. It seemed appropriate because even without the label on the wall, the area was clearly a children’s play area. The pattern also set a playful mood. The emergency room can be a stressful place and having to a specific place for children to feel comfortable in was a good idea. The second area was a â€Å"family consultation room. † This was an additional room in the back right corner. This room is for families that have received devastating information about a patient in the emergency room. The room has a door but it was open and unoccupied at the times I was there. This room also had a different feel then the waiting room just outside. As you would imagine it had a very comforting feel. The walls were a light blue color that seemed to be painted on with a sponge. This room also had a wall of windows but it had an optional pull-down shade to cover the windows if desired. The chairs in this room were different too. There were a set of two normal chairs, a couch and a two-seat bench. The couch had room for three people and the bench had room for two. The couch and bench were different from the seats in the other rooms because these did not have any dividers between the seats. I think the idea behind that was that the room was an area to be close with friends and family. Having places to sit were you can be close to someone next to you was essential for the purpose of the room. After making notes about the environment I started making notes on everything I saw people doing, and taking note of the different types of people I was observing. I also intentionally put on headphones so that I would only be interpreting non verbal behaviors. Some of the emblems I saw were unique to the individual, while others were repeated among a lot of people. One that I saw a lot of people doing was to put an arm around the person sitting next to them. Along that same line, people were holding each other’s hands, as well as putting a hand on somebody’s leg. The triage nurse that was calling new arrivals into triage rooms used her hands and body movement to direct people to come with her and to direct them into specific rooms. She would call out someone’s name and when that person acknowledged that they heard her she would invite them over with a wave of her hand. I also saw her point to one of the triage rooms without saying anything when a doctor walked into the waiting room. The doctor had come in and looked at her with a questioning facial expression. She answered his non verbal question with a non verbal answer. She pointed to the second of two triage rooms. That was the answer the doctor was looking for because he entered the triage room without a word. Other conversational examples that were simpler were things such as a person shaking or nodding their head as a response to someone else talking to them. One woman was actually nodding and shaking her head in response to whoever she was talking to on her cell phone. There were a lot of adaptors throughout the entire room, visitors, patients and hospital staff alike. A few of them were actually common throughout the room, not always simultaneous, but at some point or another they were repeated by others. One such adaptor was bouncing a leg up and down while talking or waiting. A couple of people also kept shifting in their chairs while talking. The two most common I saw with people’s hands were drumming their fingers on the arm rest, or rubbing their hands incessantly. One that I only saw once was a girl who every few minutes had to switch the position of her feet that were propped up on a coffee table in front of her. She seemed to be doing it out of boredom or restlessness. I felt she was doing it too often for it to have been the result of her feet being uncomfortable from being in the same position for too long. Others that I noticed were small. A security guard that passed through a few times had the consistent habit of playing with his set of keys attached to his belt. I spotted one of the nurses at the information desk had a habit of tapping the end of her pen gently on her two front teeth while she was pausing to look up anything on her computer. Most of the affect displays throughout the room were revealers, and very similar to each other, without much change from when I entered to when I left. The first thing I noticed was that nobody was smiling. The only smiles I noticed were fake smiles. The person smiling was forcing the smile. This occurred a lot within groups sitting together when they weren’t talking. A mother â€Å"smiled† at her son but her eyebrows were furrowed and pulled together, and her eyes remained unexpressive. The mother’s â€Å"smile† was a sign of reassurance and maybe it was interpreted by her son as a real smile, but the mother was clearly worried. Most of the people in the room had blank expressions or just a slight frown. It seemed as if everyone was in deep thought and most people did not look thrilled to be there. Eye gaze patterns throughout the room varied quite a bit depending on the person's situation. A group that was sitting together in the area of chairs facing each other kept the most eye contact with each other while talking and seemed very comfortable with it. There was another group that was not as good at making eye contact. The group consisted of an elderly woman in a wheelchair along with a middle aged man and woman. The man looked very agitated. He sat with his body positioned forward toward his companions, but his head was turned completely to the side so that he was looking out the windows. He had his elbow propped on the back of the chair next to him, his chin was resting in his hand and his fingers were covering his mouth. When one of the women talked to him his eyes darted to the one speaking to him but quickly went back to the windows as he answered. The women exchanged glances with each other that seemed to let the other know that they both picked up on his agitation and should probably let him be. A few people’s gazes were all over the place. Those people seemed to be the ones that had nothing to do. They were sitting there without a magazine or anything to distract them. Another person sitting alone also mainly looked at their lap or the ground, occasionally locking eyes with a stranger sitting across from them and quickly looking away. The same thing happened to me with a girl sitting opposite of me. We kept making eye contact when I was looking around the room for examples. I’m pretty sure she was trying to figure out what I was doing. I do think she did figure out that I was making some sort of observations and recording them because she started to avert her eyes more quickly the next two times we made eye contact. Regulators were hard to spot because, for the most part, nobody was talking to each other, with the exception of the two groups near me. In the corner what I noticed was, while the man was listening to the woman, he sat back in his chair, body turned towards her, and nodded his head. When it was his turn to speak, he did the opposite and sat up and leaned more towards her and looked around more. The family was all fairly reserved while listening; hands in their laps, bodies turned towards the speaker, but were more animated with their hands and body shifting as they spoke. The illustrators I saw were mostly emphasizing or helping illustrate something somebody was saying. I watched one funny example play out between the two girls in front of me. I never heard what they were talking about but at one point they both put their arms out to their sides and touched the tip of their noses with their pointer fingers. They were discussing either a field sobriety test given by a police officer or a balance test given by a doctor. Another example like this helping explain speech was a young man holding both of his closed fists together and snapping them apart while talking to a woman he was with. I determined he was explaining what had happened to his leg since he was in a wheelchair and his leg was wrapped. Those were the only specific illustrators I saw that seemed to have some type of meaning, where the most common thing was just random gesturing of people’s hands as they spoke. This did not always seem to have any direct connection to what they were speaking about. The adaptors I saw had clear and similar messages with each other. One man came off as stressed and anxious because he was rubbing and squeezing his hands together very roughly without seeming to be aware of it. Fidgeting with his hands seemed to help him take away from the stress he was feeling. Similar to the man rubbing his hands was the girl shifting the position of her propped up feet. She was releasing energy through movement of her feet. It seemed as though she didn’t want to be sitting and would rather be moving around. Most of the prescriptive interpretations I came up with for the behaviors observed came to me immediately as I saw them, as most of them seemed to convey a very clear message in my mind. Almost all of the emblems I saw were various people putting an arm around the person’s shoulder sitting next to them, holding their hand, or putting their hand on their leg. Touch is a powerful form communication. These all were ways of conveying to the other person that they were there for them, to comfort them and help them in this emotional time, and that everything would be alright. I didn’t have to do too much adjusting once I entered the room. I didn’t stick out anymore than anybody else did as far as my clothing went. Since this is an emergency clinic, I assumed that none of these people planned to be here so there really was no particular style of dress. Also, the fact that I was there alone and not talking to anybody actually helped me blend in. There were plenty of people alone and keeping to themselves. The only time I felt like I wasn’t blending in was when the girl in front of me noticed I was writing about the room. That happened on the first day. The second day I went into the emergency waiting room, I wore a hat to better conceal my face and what my eyes were doing. Overall I thought what I found was pretty interesting because I have been in this environment before, noticing most of these things, but the observations this time were put in a whole new perspective because I had to consciously interpret each one, instead of casually noting them. What I think was unique and interesting about this environment was the fact that, although everybody in the room could have easily been of a different ethnicity, gender, age, religion, or political affiliation than each other, they all still had a very similar communication style and seemed to convey the same general emotions. The overall communication was mostly nonverbal simply for the fact that there was very little talking. However, the non verbal communication that was happening was easily interpreted by the people I was observing. There are few places you can go where the overall internal state of mind and emotions will be so universally contained within one room and made this an excellent location. This exercise made me realize how much and how effectively we communicate as humans without even talking.

Position Paper: Hunger

October 5, 2012/Position Paper English 10 Thesis Statement: The government should make the education more accessible to alleviate hunger. Outline: I. Hunger in the Philippines II. Cause of Hunger A. Poverty in the country B. Unemployment in the country C. Incapability in acquiring quality education III. Accessible education for all people as solution in alleviating hunger Menu for the Day: Education for All People One major problem in our world today is hunger. Let us use Philippines as an example. In the latest survey of Social Weather Stations (SWS), 23. 8 % of Filipinos or estimated as 4. million Filipinos experience hunger at least once in past three months. This latest hunger rate surpassed the highest record of 23. 7 % in December 2008. (Flores, pars. 1-3) This only shows that a lot of people experiences hunger in our country right now. What could be the probable causes of this? Let us discuss each probable cause one by one using statistics. One evident cause I see for this is poverty. In another survey conducted by SWS, 51 % or estimated 10. 3 million Filipino households considered themselves poor, lower by 4 points from 55 % or 11. 1 million families in March.Also stated in the survey, about 39 % or about 7. 9 million Filipino families rated themselves â€Å"food-poor†, lower by six points from 45% or 9. 1 million previously. (Flores, pars. 1-3) Even though we can see improvements in the rates, it is still not enough to say that we are alleviating it. Another cause I see is unemployment. In a survey by National Statistics Office (NSO), the unemployment rate dropped to 6. 9 % compared to last year’s 7. 1 %. The poll showed that Metro Manila registered the highest unemployment rate at 10. 4 percent. Among the jobless, 62. 3 percent are male and 37. are female. More than half—51. 7 percent—are between 15 to 27 years old. Among educational groups, 32. 8 percent—or almost a third—of the unemployed are high school gra duates, 13. 8 are college undergraduates and 21 percent are college graduates. (Caraballo, pars. 1-4) Another cause I see is number of people who can’t acquire quality education. The Filipinos start off with 80% of them going to the elementary schools. However, the percentage decreases directly to only 48% of them going to the high schools. It even decreases down to 20% of the Filipinos, who go to the colleges and the universities.Even though students go to the schools to study, the books they use have several errors with unreliable information, grammatical and spelling errors. (Kim and Reyes, pars. 2) These three causes are inter-connected to each other, meaning one causes the other. The incapability of most people to acquire quality education results to unemployment since these people doesn’t have enough skills to get their desired job. Also, good job opportunities have large demands that those who didn’t acquire quality education are the least opportunity in the employment.Because of people don’t have jobs, this make them incapable in producing enough income to support their families, which is poverty. Poverty then leads to hunger for they don’t have enough money to satisfy their need for food. If the causes of hunger are inter-connected with each other, then same are the solutions. The government should first make the education here in the Philippines more accessible. If every member of the society has enough skill to get their desired job, there will be less people who are unemployed.If every individual in the working force have jobs, they will be capable in providing the necessities of their families including food. Thus, alleviating the hunger in our country even in the world. Works Cited: Caraballo, Flores, Helen. â€Å"Self-rated Poverty Down – SWS. † The Philippine Star. The Philippine Star,2012. Web. 29 June 2012 Flores, Helen. â€Å"SWS: 4. 8 M Families Experience Hunger. † The Philippine Sta r. The PhilippineStar, 2012. Web. 9 May 2012

International Economic Essay Example | Topics and Well Written Essays - 5000 words

International Economic - Essay Example This century has specifically seen the Asian- Pacific regions that have been showing more interest in negotiating and implementing preferential trade agreements, with China, and now India, being main the ‘hub’ in the Asia-Pacific liberal trade group’s ‘hub and spoke’ agreements with other members of the WTO. An increase in this preference for bilateral and regional trade agreements or free trade agreements (FTPs) had been observed right from the 1980s, and has often been described by the experts as the rise in a ‘new regionalism’(Majluf, 2004). By the 15th September 2008, we find that there have been 222 regional trade agreements notified to the World Trade Organization (WTO) as been implemented, with many more in the pipeline. This regionalism has been of particular interest to many of the Pacific Rim countries (Lloyd, 2002). Even China has been diverted from its earlier engrossment with the assumption of WTO, and has started seeing gain s through these regional negotiations. However coming to a general consensus on the topic of bilateral relations and the issue of free international trade has never been easy, especially as certain industrial sectors and labour groups within the economy, have been said to be adversely affected through international competition. The debate between neoliberals and the leftists or the anti-neoliberal group form the core between these refusals to come to an easy consensus. On one hand we find that the leftists group claim â€Å"Globalization has dramatically increased inequality between and within nations† (Jay Mazur, US union leader, 2000); while on the other hand the neoliberals present statistical figures in their behalf and claim that â€Å"globalized developing countries have increased their per capita growth rate from 1% in the1960’s... to... 5% in 1990’s...much of the rest of the developing world-with about-2 billion people...their aggregate growth rate was actually negative in the 90s†( Collier and Dollar, 2002, 5). So the road to globalisation, free international trade and bilateral relations had never been easy with constant frictions between the experts from both camps. The current trade negotiations is the The  Doha Development Round  or  Doha Development Agenda (DDA), and is an ongoing process that had started in November 2001, and continues to develop till date, owing to a lack of consensus amongst the members of the participating countries. The chief objective of this negotiation round is to cut down on the various trade barriers that exist worldwide, and subsequently to increase international free trade.  In the Doha round of talks in 2008 (held in Geneva), negotiations were stopped over the lack of consensus on a range of important issues such as   removal of the industrial  tariff  and  non-tariff barriers, services, agriculture, and various trade remedies (Fergusson, 2008).  These differences created a cleavage between the developed nations  that were on side and led by United States (USA), European Union (EU), and Japan; while on the other side of the divide were the strong  developing countries  like China, India, Brazil, South Africa and South Korea. The primary

Password Management Protocol Assignment Example | Topics and Well Written Essays - 750 words

Password Management Protocol - Assignment Example Information Technology infrastructure can be protected through diverse authentication techniques such as username and password combination, biometric fingerprint or hand scanning recognition or usage of smartcards for identification. After proper authentication, the next step is to identify the number/level of operations the logged in person can perform (access control/level). This function can be performed by developed Access Control Mechanism (ACM) with help of identified Access Control List (ACL) or Access Control database. It is pertinent to mention here that the human involvement is the weakest factor for secure systems developed with appropriate information security standards. Microsoft Outlook has its own Password Management Protocol that allows users to login the MS Outlook after providing the correct password. It stores usernames and the password associated with it, on the Microsoft Exchange Server as well as client’s personal computer. One of the major weaknesses of password management protocol of MS Outlook is that its password can easily be hacked by a plenty of software available over the internet through password secured Personal Storage Files (*.pst file) used by MS Outlook. All passwords could be recovered easily and instantly, despite of the password’s length. ... Furthermore, the protocol also allows similar and shared passwords to apply on MS Outlook account. This enhances vulnerability of password broken into the MS Outlook account through guess. References Lowe, Gavin. 2004. Analysing protocols subject to guessing attacks. Journal of Computer Security. Bloomberg, L., Paul. 2010. Passwords security protocols. Available at: http://www.zdnet.com/blog/service-oriented/passwords-security-protocols-cost-more-than-they-save-says-microsoft-researcher/4492 [Accessed 14 July 2012] Informer, I., Technologies. 2012. Microsoft Outlook Password Management Protocol Software. Available at: http://microsoft1.software.informer.com/download-microsoft-outlook-password-management-protocol/ [Accessed 14 July 2012] Generally, Byzantine Agreement is fundamental problem in distributed computing that engages a structure of n processes from which t number of processes may possibly be faulty. The faulty processes are a collection of processes that include from simple crashed processes to the processes which also misleads the good processes into disagreement. The proper processes need to concur on a binary value propelled by a spreader that is from the n processes. If the spreader propels the identical value to all processes, subsequently each accurate process has to agree on the spread value and in either case the processes have to agree on some value. More unambiguously, Byzantine Agreement is accomplished only after fulfilling the following conditions: i. All appropriately working processes agree on the same value, and ii. If the transmitter functions accurately, afterward each and every accurately functioning process agrees on its value. The transmitters

Evaluating Course Management Systems (CMS) Vendors Assignment

Evaluating Course Management Systems (CMS) Vendors - Assignment Example CMS aids organizations in managing content deployed through the internet. Organizations use web CMS in integrating the presence of their web with their other operations (Deo, 2010). This ensures that the content is current, relevant and refreshed. CMS also allows business to gain greater return and extract value from web channel, web communication and web marketing endeavors (Deo, 2010). This paper seeks to identify three CMS vendors, and compare and contrast their purchase and maintenance cost. This paper will identify three Course Management Systems Vendors; compare and contrast the functions and explain how they meet the needs and expectation of users. The first CMS vendor is the Database Vendors. This vendor include dynamic websites in which content is stored and separated from other particulars like format, style, supporting data and access rights. For example the Oracle which has had their own CMS offerings developed. This type of CMS vendor is expensive compared to the others if both maintenance and purchase. Database Vendors have understated and significant misalignment consumer group who has restricted their success in the product class (Deo, 2010). The customer model also has direct access to competent trained IT professionals who directly communicate within the organization to content producers. The second CMS vendor is the Internet Service Provider; this includes website hosting and registration of commodity business with competent and intense price which also allows switching costs. Businesses using this vendor are mainly interested in means of adding value to customers and help in what may avoid switching between vendors. This CMS vendor delivers products of content management and site building and delivery of site hosting, domain registration and site development. The products of this vendor are however conceived poorly because they are not the major game of the operation. Purchase and maintenance costs are however relatively low compared to Data base Vendors (Deo, 2010). The third CMS vendor is the Enterprise CMS Majors. This includes vendors like Vignette and EMC Documentation which produces document management among other manipulation tools and content aggregation. This vendor is used in managing non-web content. The vendor suits organizations moving documents for collaborative authoring within the organization for carefully publishing and version control (Deo, 2010). The vendor then allows content to be expanded and published in the internet. However, the application’s development path makes them completely proprietary and complicated. Installation of Enterprise CMS Major requires change management, extended timeline, financial expense, detailed training, and a committed organization in order to ensure success. This makes the cost of purchase and maintenance relatively high compared to the other types of vendors (Deo, 2010). Generally, all the three discussed CMSs are effective and meet the needs of users in vario us ways. The users benefit from these three CMSs due to their features such as: production of web pages (Chaudhari, 2009). They produce, edit and deploy web pages; systemization of web pages; turns production and web management into a system of activities delivering efficiency; simplification of website production activities. They internalize technical, communication and design complexity in the production of websites; user management as they manage users at different levels. It regulates who sees what on the site and who can edit and

To what extent should pupils become fully competent in the various Essay

To what extent should pupils become fully competent in the various aspects of science process skills before being introduced to ICT as a means of performing lab - Essay Example much exposure and competence the pupils must have on certain science principles before they are exposed to ICT as a means of performing labourious, repetitive or more complex tasks is a challenge for educators of today. The schools and all education stakeholders must however understand that the use of ICT tools are advantageous both to teachers and pupils. Results of several studies conducted throughout the world revealed that the use of ICT greatly increased the level of learning and understanding of the pupils on the scientific principles being studied (Betts, 2003, Mistler-Jackson & Songer, 2000, Hogarth et. al, 2006). In fact the ICT tools can even be use to demonstrate science principles in a safer way. For instance, teaching electricity principles to pupils can be both interesting and dangerous. But the advent of computer hardwares and softwares has made it more motivating and rewarding minus the hazards. Primary knowledge and skills about how electrical circuits work, how much power is required for certain types of lights, and others can be learned through simulation and not in actual exposure to real electrical circuits. To determine if ICT is really needed for primary science education and understand when is the proper timing of its introduction into the learning process it is proper to understand first what ICT applications are necessary and how can they be integrated into the learning systems? What are the advantages and disadvantages of its applications? The use of ICT in teaching science for primary education came in various forms. Review of schools’ science teaching modules show the use of ICT hardwares and softwares to obtain and use science information, encoding of data, and creating presentations. Science information materials can be obtained from CD-ROM based encyclopedia and other e-books, journals, and articles, through a wide variety of Internet locations, and through local and international electronic library networks. There are a lot

How can the UK sustain growth Essay Example | Topics and Well Written Essays - 2000 words

How can the UK sustain growth - Essay Example Industry development is also termed as a significant determinant of sustainable growth in the national level (WRAP, 2010). With this concern, the UK government has been focused on increasing its industrial outputs, on the verge of facing the risk of recessionary effects in the aftershock of the recent financial turmoil. As a result, the economy was able to obtain a substantial rise in its overall industrial output which led to the predictions that the economy might have been successful in mitigating the recessionary risks by a substantial extent. However, UK’s industrial output suddenly fell in the fourth quarter of 2013 which made the volatile situation faced by the economy more apparent to world traders (BBC, 2013). This further have raised the question that whether UK can sustain its growth in the future and if it can, then how. The discussion in this paper will emphasise on addressing this particular question following the assessment of the current economic situation witne ssed in the UK. Exposition According to the article published in BBC (2013), with the title â€Å"UK industrial output rose 1.1% in December† reveals an apparent account of UK’s industrial performance in relation to its output generation. It is worth mentioning in this context that the sustainable growth of UK has been significantly influenced by its industrial, economic and production outputs over the years which has today, contributed to its recessionary risks. The data illustrated through this report states that the industrial output in the UK had increased by 1.1% in December 2012 as per the report of Office for National Statistics. The rise in the aggregated industrial output observed in December 2012 was constituted with the steeply increased production of the manufacturing sector by 1.6% after accounting a fall of 0.3% in the month of November 2012. Outputs generated from the energy production and mining sector also increased by 0.9% in the same period which was further denoted to be highe r than the predictions made by analysts. Observing these hikes in the industrial output of the UK, various analysts affirmed that this level of development will enhance the potentialities of the economy to avoid future recessionary situations which was previously forecasted to be quite high in the aftermath of the 2008 recent financial crisis. However, UK’s industrial output depicted a sudden fall on the premise that UK has been successful in avoiding probable chances of recession. To be specific, industrial output declined by 1.9% in the fourth quarter of the financial year 2012-2013 which was further revealed to be a record fall in comparison to the output obtained in the third quarter of the same fiscal year. The major reason identified to act behind this huge fall in industry outputs have been the temporary shutdowns of oilfields in North Sea. However, possible chances were identified with concern to the rises in the energy production of UK’s North Sea energy produ ction sector which could contribute towards the sustainable growth of UK even though no firm evidences were provided towards justifying this particular assumption (BBC, 2013; Office for National Statistics, 2012). Notably, it was the cause of these recessionary effects that the Gross Domestic Product (GDP) of the UK fell to 0.3% which depicted that the industry growth policies enforced by the government had certainly failed which is required to be further reconsidered in order to avoid the high risks of triple-dip recession (Inman, 2013). Source: (Inman, 2013) Key Themes The key themes of the article published in BBC (2013) represent the overall scenario of UK’s sustainable development in terms of industrial production increases which in turn imposes a strong influence on the sustenance of the UK economy with the prevailing

Final Synthesis Paper Essay Example | Topics and Well Written Essays - 1000 words

Final Synthesis Paper - Essay Example As such, despite taking different paths, ultimately, patronizers of Hinduism aim to achieve a common goal: to achieve liberation and to be limitless. It is also enlightening that for this particular religion, liberation means freedom from the plagues that afflict human experience. This theme is perceived to fit the concepts learned in world religions through the universal goal of being liberated from the bondage of sin and to attain eternal life (Catholic) or from the bondage of plagues (Hinduism); and for one’s religion (Islam), the spiritual goal is to attain this state of peace in the soul. The theme of four paths to the goal, as presented in Hinduism, is unique in its presentation but despite identifying different paths or roads to liberation, it shares the common theme of salvation and freedom from earthly difficulties and challenges that cause pain and anguish to the body and mind. A remarkable theme from Buddhism, as presented by Huston is the â€Å"Four Noble Truths†, to wit: (1) life is suffering; (2) that selfish desire is apparently the cause of pain; (3) that there is hope to be released from suffering; and (4) and that the cure to end pain and suffering is commitment to the Eightfold Path (right knowledge, right aspiration, right speech, right behavior, right livelihood, right effort, right mindfulness and right absorption) (Smith). What is noteworthy with the lessons learned from these particular themes from Buddhism is its clarity and accurateness in defining what needs to be done to prevent the occurrence of pain and suffering. One therefore observed and deduced that just like the theme from Hinduism, these themes relay messages on the techniques and strategies that must be done to release a person from pain and suffering. Therefore, both religions acknowledge the presence of suffering (Buddhism) and plagues (Hinduism). Likewise, for religions like Catholics and Christianity, the cause of suffering

Elder Abuse and Psychosocial Simulation Essay Example | Topics and Well Written Essays - 750 words

Elder Abuse and Psychosocial Simulation - Essay Example Afterwards the interviewer remains alert and moderate in asking questions (Knapp, 2007). In terms of non-verbal actions the interviewer applied broad leads, such as neutral expressions. The intention was to support continued talking by the patient. However, the interviewer placed less time on open body posture. In terms of making observations, the interviewee appeared tense, especially in what appears to be some biting of the teeth. Nevertheless, the interviewer showed interest in the patient issues and still managed to come across as relaxed, by attempting to shift her body posture to a small level. The interviewer was trying to display an interest in what the client was saying. Gestures in some instances became an issue due to misinterpretations arising from the two diverse cultures. In addition, voice also became an issue due to timing and tempo since in some instances, the interviewer pitch and inflection did not bring out an understanding (Wachtel & Wachtel, 2011). The interview er applied non-verbal actions such as open facial movements displaying empathy as a part of intentional efforts to communicate experiences of suffering. For instance, the use of verbalizing implied thoughts such as the interviewer voicing what the client appears to have fairly evidently implied, instead of what the client had really said (Wachtel & Wachtel, 2011). The intention was to make conscious of the unconscious (Quinn & Tomita, 2002). Secondly, the interviewer applied neutral responses, and this displayed some interest and involvement in what the client was saying. The exact use of silence and some cases voice-tone was meant to offer time for the patient to present thoughts and feelings into expressions. The silence enabled the patient to verbalize while regaining composure. The interviewer seemed a little bit nervous initially when the camera gear was being setup, and this then reflected on the client sense of edginess. This was evidence by overusing of reflection which then made the client a little bit annoyed when her own words and statements were being continually repeated. However, as the interviewer began conversing with the client, she got somewhat more comfortable as both of them established a good human connection. The interview began with a chatting session with the client prior to the camera rolling. The intention was to first gauge the client awareness of the questions and then let him think about any solicitous responses. The caregiver managed to leave the room after a couple of questions were asked and she felt reassured about the interview session. However, the caregiver seemed to possess more ability in encoding the client emotional outlay. In particular, she was able to accurately decode the client body movements and voice-tone cues. On the other hand, the client did not know how to make clear his feelings, and he seemed to hold back tears at times while pacing and fidgeting, maybe because he feared that he will be labeled crazy. In wra pping matters up, I provided cues to the client that the session was coming to an end before summarizing the key answers and then thanking the client for his time. The interviewer was fairly comfortable with the questions concerning abuse and neglect as she used extensively reflective listening, while reacting with affirmative proclamations.

Expatriate Selection, Training and Support Essay

Expatriate Selection, Training and Support - Essay Example Global HRM specialists assert that it is important for MNCs (Multinational Companies) to attract, recruit and retain employees who can work and live successfully in other countries. Various models are used to determine traits of good expatriate managers (Camilleri, 2011:35). The choice of models of characteristics of good expatriate managers for international assignments has been a long and complex affair (Chew, 2004:15). Past models indicated that functional or technical expertise has been the basis of choosing expatriate managers for various assignments (Sonja, 2003:555). Intensified attempts aimed at identifying appropriate expatriate managers were based on recognising personal characteristics of candidates that could enable them serve as better expatriate managers (Fajana, 2011:58). In other words, training improved their survival during the assignments (Camilleri, 2011:35). Though the models selection may vary according different nations, they are all based on potential characte ristics and functional capabilities of prospective candidates (Huang and Lawler, 2005:1670). It can observed that early studies made out specific issues that could influence the success or failure of expatriate managers, originally very little was done to come up with a systemic approach to the expatriate selection process.It is clear that systemic, organisational and environmental issues impact on an expatriate’s success or failure that were observed from research done on expatriate selection  ... On the other hand, the explanatory approach has been recently adjusted to a predictive approach that takes into account a study of personality characteristics of potential expatriate managers (Budhwar and Sparrow, 2002:377). Specifically, researchers pay more attention to the predictive approach using the big five personality characteristics (Jens, 2007:25). The five characteristics for expatriate success include extroversion, agreeableness, emotional stability, conscientiousness, openness, and intellect. Despite the fact that personality characteristics are said to have predictive power in relation to the success of expatriate managers, the practical research to support this position is insufficient (Semerae et al., 2007:71). An all-inclusive study conducted on the big five characteristics found that conscientiousness was concluded to be the best predictor for individual performance (Jackson, 2002:14). In addition to, the link to organisational performance using this approach as the primary selection is somewhat uncertain. Moreover, the big five attributes the development of classification of soft skills that have been used in expatriate manager selection (Azolukwam and Perkins, 2009:23). Various skill classification schemes have been used to demonstrate the objective of practitioners to set up multiple means to forecast the success of expatriate managers (Price, 2000:45). The Ashridge Management Research Centre stated five skill categories with different items in each classification (Harvey and Novicevic, 2001:71). These include language capabilities, openness to different cultures, strategic awareness and adaptability environmental situations. Other studies that support the soft skill model have increased the number of

Color blue Essay Example for Free

Color blue Essay Blue is the favorite color of all people. It’s nature’s color for water and sky, but is rarely found in fruits and vegetables. Today, blue is embraced as the color of heaven and authority, denim jeans and corporate logos. It is cold, wet, and slow as compared to red’s warmth, fire, and intensity. Blue has more complex and contradictory meanings than any other color. These can be easily explained by pinpointing by the specific shade of blue. Bright blue: cleanliness, strength, dependability, coolness (The origin of these meanings arise from the qualities of the ocean and inland waters, most of which are more tangible. ) Light (sky) blue: peace, serenity, ethereal, spiritual, infinity (The origin of these meanings is the intangible aspects of the sky. ) Most blues convey a sense of trust, loyalty, cleanliness, and understanding. On the other hand, blue evolved as symbol of depression in American culture. â€Å"Singing the blues† and feeling blue† are good examples of the complexity of color symbolism and how it has been evolved in different cultures. Blue ranks so high as a favorite color that you can’t go wrong if you use blue. However, blue can be over-used and may wind up a design cliche if used alone. Combining blue with another color creates a more creative effect. Blue is the only color which maintains its own character in all its tones it will always stay blue;† Raoul Dufy, French Fauvist Painter, 1877-1953 Blue is sharply refracted by the eyes. This causes the lens to flatten and to push the blue image back. We perceive that blue areas are receding and smaller. The same refraction causes visual fog if used excessively in interior spaces. Blues global similarities are significant: Blue is the #1 favorite color of all people. 53% of the flags in the world contain blue. Blue is the most commonly used color in corporate identity. A dark blue suit is professional business attire. Blue jeans are worn all over the world. Aristocracy is blue-blooded in all European languages. Unique Meanings of Blue in Different Cultures Greeks believe that blue wards off the evil eye. The English â€Å"to feel blue† has no equivalent in other languages while in German â€Å"blau sein† (literally: to be blue) means to be drunk or in Russian â€Å"Ð ³Ã ¾Ã »Ã'Æ'Ð ±Ã ¾Ã ¹Ã¢â‚¬  (literally: light blue) means to be homosexual. Dark blue is the color of mourning in Korea. The god Krishna has blue skin. Shades of blue are described as shallow or deep instead of light or dark in China. Blue is for a baby girl; pink for a baby boy in Belgium. â€Å"Prince Charming† is called â€Å"The Blue Prince† in Italy and Spain.

Oceanic Bank International PLC Training Methods and Practice

Oceanic Bank International PLC Training Methods and Practice INTRODUCTION The importance of training in the human resource management efforts of any organisation cannot be overemphasised. That is why training is key to the survival of every human resource strategy of any given organisation. Employee training is becoming a necessity to every organization nowadays as training enables them to carryout roles and responsibilities efficiently and also learn new things, which will prepare them to take up higher responsibilities in the future (Karthikeyan, Karthi Graf 2010). Human relations management training, broadly conceived, is a popular means by which numerous public organizations seek to enhance productivity. Public managers consume prodigious quantities of management training and should be seriously concerned with the effectiveness and success of such intake (Gerald, 1989). Traditionally, training and development was not seen as actively that could help, organizations create value and successfully deal with competitive challenges (Oludairo, 2006). According to Cascio (2003), many organizations both small and large shy away from training their employed because they think that by improving the skills of their workforce, their employees will be more marketable to competitors. And where there are well training programmes, there are poorly implemented, like too much fine wine, may actually impede rather than invigorate a robust organizational health (Gerald, 1989). Operational definitions of key concepts The Concept of Training Trainings focus has broadened in the past few years (Bernadin, 2003). Training used to focus mostly on teaching technical skills, such as training assemblers to solder wires or teachers to device lesson plans. However, technical training like that is no longer sufficient (Oludairo, 2006). In recent time, organization has had to adapt to rapid technological changes, provide quality goods and services, and increase revenue to stay competitive. Improving quality required remedial education training. Similarly, employees today need skills in team building, decision making, and communication as well as technological and computer skills (Oludairo, 2006). According to Fajana (2002), training is the process that involves developing skills and learning concepts, rules or attitudes in order to increase effectiveness on a particular job. Casco (2003) sees training consisting of planned programme designed to improve performance at the individual, group and/or organizational level. Ubeku (1975) in his own contribution, defines management training as the process of developing managers knowledge, skills and attitude through instruction, demonstration, practice, and planned experience to meet the present and future needs of the business. This management training is the same as development or management development. Development refers to the process of teaching managers and professional employees that knowledge, skills needed for present and future task accomplishment. Considering the above definitions, one can conclude that training and development involve the systematic and continuous developing skills, learning concepts, attitudes and knowledge needed by employees to perform effectively and efficiently at work. Oceanic Bank International PLC Oceanic Bank International Plc is regarded as one of banks that brought new revolution in the banking sector to Africa. Incorporated in on March 26, 1990, the bank commenced business on June 12, 1990. The bank has been growing from strength to strength since then. Its shares were listed on the Nigerian Stock Exchange on June 25, 2004, having achieved a public liability company status. The bank is second to none in excellent deliveries and world class banking technologies in Africa. According to the banks website, the bank has a strong presence in asset management, commercial banking, health management, insurance, investment banking, pensions, registrar services, savings loans and trustee services, as well as over 370 business offices spread across Nigeria, Cameroun, the Gambia and Sà £o Tomà © Prà ­ncipe, Oceanic Bank is one of the most recognized financial services brands in West Africa. The rational for choosing Oceanic Bank for this essay is hinged on the fact that the author is an insider who has been working with the bank for years and have undergone series of training within the bank. Currently on the banks study leave, the author has unfettered access to the training methods and practices of the organisation and is able to specifically assess and examined the banks training methods and practices as demanded by the question at hand. Brief review of literature Various scholars and researchers have contributed to training especially in the banking sector. Among them is Richards (1997) who posits that during a management trainee programme, the real objective is to focus on the individual manager and not the position in the company. Richard contributed to training needs analysis, vis-a-vis; about core competencies, job profiling and identification of competencies gaps-either against core competencies for individuals or against job profiles for generic roles. Another important work that focuses on training in the banking industry is that of Niki Glaveli and Stella Kufidu (2005). The authors jointly analyzed the changes that took place in the Greek banking industry in three good years. The author also looks at the impact of the changes on the role of employees training and development for strategic implementation and success, using four case studies to investigate the effect of the environmental changes on these particular banks and the role of their training and development strategies in adjusting themselves to the changing industry environment (Glaveli Kufidu 2005). In a more related work to this study, Rainaye (2004) empirically examined the training policy in two commercial banks. The banks are the State Bank of India and Jammu Kashmir Bank Limited. The aim was to study some kind of training styles including Managements attitude towards training, training inputs, quality of training programmes and transfer of training to the job. The study found out that the training scenario is to a large extent satisfactory. The study also evaluates the opinions of the employees of two cadres of both banks and in particular that it can be made fully effective only when the training needs assessment and transfer of training to the job are considerably improved, besides bringing in finer improvements in other dimensions (Rainaye 2004). Badhu and Saxena (1999), in their work titled Role of Training in Developing Human Resources proved that an organization should have well-defined training policy as well as training manual and training should be made an ongoing process. The duo also proved that the executive development programmes have been found to be useful in improving the productivity, efficiency and effectiveness of managers. In their research, Karthikeyan, Karthi Graf evaluated the effectiveness of training in six banks and how training contributes for growth of the banks. The study which carefully focussed on three public sector banks and three private sector banks has core objectives of analyzing the effectiveness of Training in selected banks in Tiruchirappalli District, South India and also to find the association between effectiveness of training and growth and result of banks. Assessing Training Needs Organisations spend over $200 billion annually on employee training and development (Wexley and Latham, 1991). They rely upon this training to help develop employee skills that are critical for success in todays fast-changing, competitive environment (Guthrie and Schwoerer, 1994). There training programs are a dubious investment, however, unless they are based upon a sound training needs assessment TNA (Goldstein, 1993). According to Burton and Thakur (2003), a good training program should identify: (i) the specific skill areas that are to be strengthened as a result of the training; and (ii) the resources that is available to support the training. They posit that an effective training process must begin with a thorough need analysis to clearly identify the learning to be achieved, and it must end with an objective training program evaluation. A comprehensive training needs assessment provides information on organization needs- the organizational units in need of training; task needs- the knowledge and skills trainees must acquire for effective job performance; and person needs-the individuals in need of specific types of training (Wexley and Latham, 1991 Guthrie and Schwoerer, 1994). As shown in the figure below, the first step of training process is the assessing of training needs and providing answers to the following questions: (i)Who needs the training?(ii) Exactly what do they need to know or be able to do? (iii)What do they already know or are now able to do? (Burton and Thakur,2003). The other steps deal with identification of training objective which should be specific, measurable, attainable, realistic and time bound, implementation of training program, evaluation, and adjustment if necessary. Assess training needs Who need to be trained? What do they need to know? What do they already know? Set training objectives (specific, measurable etc.) Plan training evaluation Did trainees like the training? Can they meet the training objectives? Do they perform better on the job? Develop training program: content, location, methods, trainers, duration Conduct Training Evaluate Training Modify training program based on evaluation Training methods and practices at Oceanic Bank International PLC Oceanic bank places great importance on its training and thats why the bank is known as a workplace where staff can really learn and work at the same time. Training at oceanic bank intl plc has been an important task or function to be completed by the human resources department. Whichever level an employee enters the organization; it is mandatory for such new employee to go through series of training both on- the- job and off- the- job. The Oceanic Leadership Academy The oceanic Leadership Academy is the training school for the bank. It is the first port of call for every new staff of the bank. The new staff members resume rigorous academic studies in the Academy for five weeks where their success is chiefly determined by written and oral examinations. The Academy goes a long way to determine whether a new staff will be retained in the bank or sent packing as staff who failed the short course will be asked to leave the employment of the bank. The Academy has very reach curriculum and work modules, most of which are packaged to deliver the peculiar nature and businesses of the bank. The Oceanic Academy, being the learning arm of the bank is run by the Human Resource department. According to the Banks websites, the department is responsible for all capacity building and training interventions aimed at developing the skills and capabilities of employees, thus improving their competencies on the job, their overall productivity and the competitiveness of Oceanic Bank Group. Induction courses After the graduating from the Academy, the induction processes of the bank follows. Induction training is conducted to newly employed staffs of oceanic bank within the branches of the bank. The programme is intended to improve the financial literacy of participants whilst strengthening their knowledge and competencies. This is carried out both on-the -job and off- the-job which enables the new entry level officers to understand the business and development of skills needed to carry out their job functions required by the organisations standard and practise. A one-week induction course for experienced new hires and a three-day induction course are available to certain grade levels. In addition, desk-to-desk induction is structured specifically for senior management staff. Off-the-job training in Oceanic Bank This is a training programme outside the organization which is encouraged by the bank. The bank usually sponsors and support their staffs for specialised training in various fields especially in the area of the modern day technology, credit and mortgage. Staffs are been sent on training in different training programmes such as (core banking application) finacle training in Indian and other European countries. Such staffs have come back more enlighten and are able to pass done such knowledge to subordinate and co- workers. On-the-job training in Oceanic bank Oceanic bank make most use of on-the-job training by assigning a trainer to the newly employee to put such employee through by learning the practical aspect of the job on-the-job. Job rotation is also an important training method employed by the bank where staff members are been moved from different department to gain more experience and familiarise themselves with all areas of banking, from marketing, credit, operations and application of core banking software. Oceanic bank staff members gain a lot through job rotation as given employees opportunity to work in different department of the bank is helpful. This initiative also helps staff members to move round different department which enable them bring in new ideas to other departments to enhance employee performance. Job rotation of staff also reduces boredom on the job because of diverse task to be carried out by employees. This also enables the staff to understand all the core aspect of banking as well as working with different people and senior managers across the business. Knowledge sharing section: This is a training programme designed by oceanic bank to be conducted by each branch on weekly basis. It is anchored by designated staff of the bank on a rotation basis. The aim is to bridge learning gaps on the operations of the bank. This is done specifically to update each staff of the bank on operations of the bank, the position of the bank, introduction of new products as well as knowledge outside the banking operations Short courses in Oceanic bank The bank periodically organizes Open Courses which cover diverse areas of development including Leadership, Communication, Health and Wellness, Credit Skills, Marketing Skills and Soft Skills. Mostly the bank sends mails to staffs to indicate there interest whenever the organisation organises open courses for staff The bank encourages the staff to register and monitors their progress for professional courses. In line with this the Oceanic Academy partners with various organisations like the Institute of Chartered Accountants of Nigeria (ICAN) and the Chartered Institute of Bankers (CIBN) in the area of Continuous Professional Development Programmes. They also encourage personal development of each staffs by allowing staffs to go on study leave for further studies, and opportunity the writer of this essay is currently enjoying. E- learning: This is the bank internet training facilities provided to the employees of the bank for training purpose. There are various materials on this site which employees can read and download to enable them broaden their knowledge on the core banking subjects as well as non-banking related areas of study. Effectiveness of Oceanic Bank Training programmes The oceanic bank training scheme is by far one of the best in the banking sector as attested to by staff of other banks. The programme is well structured in such a way that it makes it easy for every member of staff to undergo it without any stress. This is desirable as it makes the staff to love and appreciate their work. This in turn encourages efficiency and increased productivity. Because staff had gone through certain training processes, they are confident in doing their job and they build up work ego and pride in delivering stated task. Shortcomings of the Oceanic Bank Training programmes While it is good to have a formal training school for staff training like the Oceanic bank leadership academy, it is somewhat unfair to based performance of new staff on classroom examinations, worstill, that those who failed the examination are shown the way out of the employment. This is hinged on the commonly known assertion that examination is never the best way of testing human knowledge. A very good staff that has sound practical knowledge of the banking system might be unable to successfully pass written examination for one reason or the other. For this reason, the mode of determining whoever successfully passed through the academy is put to question. Another shortcoming observed from the Oceanic Bank Training programmes is the management of the delivery of the on-the-job training. More often than not in the department where this author work, the pressure of work and overwhelming customer demands and queries do not allow room for teaching someone else on the job. The implication is that most new staff spend longer than usual in learning new skills while working. Often, those doing the training may have no experience in training, no time to do it, and no desire to participate in it. Under such conditions, learners essentially are on their own, and training likely will not be effective. Another problem is that on-the-job training can disrupt the flow of regular work. Unfortunately, on-the-job training can amount to no training at all in some circumstances, especially if trainers simply abandon the trainees to learn the job alone. Also bad habits or incorrect information from supervisor or manager can be transferred to the trainees. Conclusions and Recommendations for Improvement Owing to the complex nature of jobs in the banking sector, the importance of employee training has increased. In a rapidly changing society, employee training is not only an activity that is desirable but also an activity that an organization must commit resources to, if it is to maintain a viable and knowledgeable workforce Karthikeyan ,Karthi Graf (2010) Because of the enormous advantages of training to an organisation, the amount spent should be seen as an investment rather as a cost to the organisation. Training has been a very formidable part of every organisation. In fact it is a prerequisite for effective employees performance and growth on their jobs. Logically speaking, the higher the quality of training an employee receives, the higher the quality of productivity and vice versa. It must be stressed therefore, that training and development improve quality, customer satisfaction, morale, profitability, business expansion and development i.e. overall organizational productivity. Hence, it gives organizations competitive advantage. This essay recommends an informal approach to accessing staff performance in the training school, vis-avis, the Oceanic Bank Leadership Academy. In this way, emphasis should be laid on assessing the delivery of practical tasks assigned to the new staff rather than just asking them to write written examinations. Also, new staff should not be laid off for failing the written examinations in the academy. It is also recommended that on-the-job training should be more formalise such that pressure and workload would be reduced from the shoulder of the trainer. Such trainer, as a matter of fact, should be allowed concentrate more on the trainee rather than the customers during the period of the induction. It is also advisory that Oceanic bank introduces a kind of personality development programmes such as role play, group discussion and business games. By this, the senior, management and other lower staff can build synergy and the superior and subordinate relationship can be strengthened for the overall productivity of the bank. In General, the Human Resources department should enhance their training programmes in line with latest demands in the banking sector, especially in this age of online bank and sophisticated fraud. This is because every organization that want to survive in this very dynamic world of banking needs to have well-trained and experienced people to perform the activities that have to be done.

Short And Long Run Aggregate Supply Curve Economics Essay

Short And Long Run Aggregate Supply Curve Economics Essay Aggregate supply is the total supply of goods and services produced within an economy at a given overall price level within a specified time period. It is represented by the aggregate supply curve during a given time period that shows the total supply of goods and services that the firms are willing to offer to the economy during a specified time period at a given overall price levels. Normally, there exists a positive relationship between the aggregate supply level and the price levels upon which that annual supply curve has been made. Aggregate supply function of the economy is also referred to as total supply of the economy as shows the total supply of goods and services that the firms are willing to supply at given price levels. It also shows the capacity of the firms of the economy and the fact that the firms can supply the economy with the appropriate level of goods and services in order to satisfy the demands of the economy. Aggregate supply curves are made on the basis of long and short term which depicts the total supply function of the firms of the economy both in the long term and in the short term for the economy. There can be some shifts in the aggregate supply curve for the economy which can be attributed to number of different factors and variables affecting the economy. These factors can be many some of which may be the change in the size and quality of labor, the mere fact that the labor size has changed that is more and more labor is available to the firms for the production of their goods and services or that the labor which is already available to the economy has gained more and more skills due to which it has become easier to produce more for the economy. Other factors can be the change in technology or it can be said that the technological innovations can cause a shift in the aggregate supply curve of the economy.   Increase in wages, increase in production costs, changes in produce r taxes and subsidies, and changes in inflation can also be some of the driving factors in the shifting of the aggregate supply curve for the economy. Different schools of thoughts have different views of economics and therefore they have different approaches towards the determining of aggregate supply of the economy that is to be made to the economy. Aggregates supply is the function of aggregate availability of labor and other resources in the given time period and the price levels for the production of those goods and services that provide the aggregate supply of those goods and services to the economy. Short Run Aggregate Supply Curve Supply side of performance of the economy is the main determinant of the aggregate supply of the economy. Short run aggregate supply depicts the productive capacity of the economy and the costs of production of each sector. There may be a shift in the aggregate supply cure and this can be caused by the following factors: Changes made in the supply size and quality of labor force that are available to the economy. Changes in size and quality of capita stock through investment. Technological progress and the impact of innovation. Changes in the productivity of factors à ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬ both labor and capital. Changes in the wage costs per unit .i.e. wage costs per unit of output. Changes in producer taxes and subsidies. Changes occurring to the inflation expectations. Arise in inflation expectations are likely to boost wage levels and in affect cause the aggregate supply curve towards the inwards shift. Long Run Aggregate Supply Long run aggregate supply is determined by the productive resources available to meet demand and by the estimated productivity of factor inputs that are Land, Labor and capital. There is a clear distinction between the short run and long run aggregate supply cures. In the short run aggregate supply curve is dependent on the price levels for a particular output and therefore increase in price levels affects the supply of goods and services in the economy whereas it is not true for long term aggregate supply as they are thought to be independent of price levels in the long term. The productive potential of the economy in the long run is mostly driven by the improvements to be made in the productivity levels and by the expansion of the available factor inputs. Expansion of the available factor inputs can be made through the realization of more firms, a bigger and much better capital stock and an increase in the number of skilled labor force etc. due to these reasons long run aggregate supply curve is made vertical on the graphs. The classical model of economics defines the aggregate supply curve as being a vertical line at the full employment level of real production. The early Keynesian view describes the aggregate supply curve to be a parallel curve to the horizontal axis .i.e. a horizontal curve. It shows that the price level will remain same over the time period and the firms will have to manage their supply according to the available price level prevailing in the economy. The newer Keynesian view describes the aggregate supply curve in the two aspects .i.e. fixed money wage and variable money wage. According to the newer Keynesian view aggregate supply curve is the upward slopping curve at different wage levels for the economy. The supply side school of thought in the economics define the aggregate supply of the economy based on the fact that the aggregate supply is affected by the quality of labor and that the much higher prices are paid to the more skilled labor as compared to the less skilled or unskilled labor.

Othello’s Heroism :: Othello essays

Othello’s Heroism  Ã‚         Shakespeare’s tragedy Othello treats the audience to considerable heroism, not only from the hero and heroine but also from unexpected characters.    Kenneth Muir, in the Introduction to William Shakespeare: Othello,   explains how the consensus of the characters in the drama testify to the heroism of the general:    The testimony of all the main characters in the play is decisive. Brabantio loved him; Lodovico speaks of him as ‘the noble Moor’ ‘once so good’; Cassio, who has good cause to hate him, addresses him as ‘Dear General’ and speaks his epitaph: ‘he was great of heart’. The Duke declares that he is more fair than black. Montano is delighted to hear of Othello’s appointment as Governor. But the most significant testimony to Othello’s character comes from the one man who hates him. Iago confesses that the state ‘Cannot with safety cast him’ because ‘Another of his fathom they have none’. (29)    A character’s attitude toward the most fearful foe – death itself – is unquestionably a criterion for judging a heroic type from a non-heroic type. Helen Gardner in â€Å"Othello: A Tragedy of Beauty and Fortune† considers Iago’s wife Emilia to be a true hero of the play because of her fearless outlook on death itself:    Emilia’s silence while her mistress lived is fully explicable in terms of her character. She shares with her husband the generalizing trick and is well used to domestic scenes. The jealous, she knows,    are not ever jealous for the cause But jealous for they are jealous.    If it was not the handkerchief it would be something else. Why disobey her husband and risk his fury? It would not do any good. This is what men are like. But Desdemona dead sweeps away all such generalities and all caution. At this sight, Emilia though ‘the world is a huge thing’ finds that there is a thing she will not do for it. By her heroic disregard for death she gives the only ‘proof’ there can be of Desdemona’s innocence: the testimony of faith. (145)    At the outset of the play Iago persuades the rejected suitor of Desdemona, Roderigo, to accompany him to the home of Brabantio, Desdemona’s father, in the middle of the night. Once there the two awaken the senator with loud shouts about his daughter’s elopement with Othello.

Martin Luther Essay -- essays research papers

The year 1483 certainly was not the best of times and arguably not the worst of times but it was a notable time in that the birth of one Martin Luther did occur and the re-birth of Christendom was not far away. Eisleben, Germany is noted as the birthplace of young Martin Luther just ten days into November. Germany at that time was a place of emperors, princes, princelings, nobles, lords and knights. A place once called the Holy Roman Empire of the German Nation. A place that had no qualms with poverty or those who lived poverty’s reality, the peasants. One of the many odd things about young Martin’s Germany was the fact that the princes at that time were made up of archbishops and bishops who had been appointed by the pope (so much for separation of church and state). In 1483, Emperor Frederick III presided over what can be described as a violent and brutal Germany, a land that hosted torture and established a new class of people†¦the executioner. Debate over the death penalty was non-existent for even young Martin would grow up to support state executions as being divine punishment. Today’s electric chair seems humane compared to â€Å"the wheel†, â€Å"the stake†, or being boiled to death in oil or water, styles of execution that were a common place in young Martin’s time. Young Martin’s Germany was a lively and interesting place but everything except static. The fire of change was tiny but being kindled with embers from corrupt clerics, the destruction of the flat earth theory and the invention of the printing press were but a few. Change was emphatically in the wind. Hans and Margarethe Luther had four boys with Martin being the second, and one of two to survive the dreaded plague. Hans went from laboring in copper and silver mines to later owning several small foundries. Despite the promotion, the Luther’s were still not far from basic peasantry, but young Martin did enjoy some of the better things life had to offer such as an education. Though he couldn’t escape the infrequent brutal beatings at the hands of his parents, he did at times play like the other kids. Martin enrolled in the University of Erfurt in the spring of 1501 with a solid primary and secondary education behind him, and he intended on studying law. Like most institutions of higher learning at that time, Erfurt concentrated on philosophy and that meant â€Å"thinking and reasoning†; one would say you... ...Leo X called for a hearing in Rome but Martin argued it should be in Germany with German judges. His prince Frederick the Wise agreed and got the emperor to sign on. Ausborg would be host to the hearing though Rome preferred Martin be bound in chains, fetters and handcuffs and delivered there. Things went so bad at Ausborg, Martin ended stealing away at night to stagger back to Wittenberg, dazed and feeling alone. At Martins hearing, the Church stood strictly on its tradition and its assumed position of authority. Martin stood on scripture. While this was going on the people of Germany were watching and were stirred by the spirit of the debate. Martin stayed the course and things continued to heat up with the Roman Curia investigating and condemning him in 1520, and a year later excommunicating him. They summoned him to appear before Emperor Charles V at The Diet of Worms, and they expected him to recant his position. He didn’t. Upon his condemnation, his prince placed him in hiding at Wartburg castle where he would translate the New Testament from Greek to German and also go down in history as the progenitor of the Protestant Reform Movement. Christendom would forever be changed.

Accouting Practice Exam

FACULTY OF BUSINESS ACC100 ACCOUNTING 1 Sample examination TIME: 9. 20 – 12. 30 Hours WRITING TIME: Three (3) hours READING TIME: Ten (10) minutes MATERIALS SUPPLIED BY UNIVERSITY: Answer Booklets (4 x 6 page) General Purpose Answer Sheet GPAS-200R MATERIALS PERMITTED IN EXAMINATION: Writing implements, including a 2B pencil and an eraser Battery operated, hand held, no print facility calculator NUMBER OF QUESTIONS: Part A: Thirty Part B: Four (30) multiple choice (4) questionsINSTRUCTIONS TO CANDIDATES: 1. Enter your name and student number and sign in the space provided at the bottom of this page. You must also enter your name and number in pencil on the multiple choice answer sheet, and upon the answer booklet. This examination consists of THIRTY (30) multiple choice questions in Part A and FOUR (4) questions in Part B. ALL questions must be answered. Part A (Multiple choice): Students must answer questions 1 – 30 on the answer sheet provided.Use a black lead pencil No 2 to fill in completely the letter box corresponding to the most correct answer. To change your answer, erase completely and remark. There are no marks deducted for incorrect answers. Candidates are advised to show all workings in Part B clearly labelling them as such. This examination is worth 60% of the final assessment. Students must pass the final exam to pass the subject. INSTRUCTIONS TO INVIGILATORS: 1 QUESTION PAPER MUST NOT BE RETAINED BY THE CANDIDATE. 2. 3.STUDENT NAME: ____________________________________ STUDENT No: _________________ STUDENT SIGNATURE: _____________________________________________________________ MULTIPLE CHOICE (1 mark each) Record your answers in pencil on the General Purpose Answer Sheet provided. 1 Purchasing inventory for cash has the following dual effect on the accounting equation: A B C D 2 increases an asset and increases a liability increases an asset and increases another asset decreases an asset and increases owner's equity decreases an as set and increases an assetPurchasing office furniture partly for cash and partly on credit affects the accounting equation by: A B C D increasing an asset, increasing a liability and a decreasing an asset increasing an asset, decreasing a liability and decreasing an asset decreasing an asset, increasing a liability and increasing owner's equity decreasing an asset, decreasing a liability and decreasing owner's equity 3All of the following equations of the basic accounting equation are correct except: A B C D assets = liabilities + owner's equity economic resources = claims on economic resources assets – liabilities = owner's equity assets + owner's equity = liabilities 4 A business had assets of $260,000 and liabilities of $75,000. How much is its owner's equity? A B C D $0 $185,000 $335,000 $260,000 5 The business document that reports assets, liabilities and owner's equity is called the: A B C D financial statement transaction statement of financial position (balance sheet) statement of financial performance (profit and loss statement) 6 Terri operates a beauty salon. During the first month of operation Terri performed the following transactions: i ii iii iv v vi invested $2,000 in the business prepaid rent of $1000 purchased $1,500 of furniture on credit purchased $100 of supplies for cash paid $300 on the furniture purchased in iii purchased an antique mirror for $1,000, paying cash of $500 and putting $500 on credit. Using the accounting equation, the final balance on both sides is: A B C D 7 3,900 3,700 4,300 4,400Use the following information to calculate the balance in John's Capital account. Balance of accounts for John's Cleaning on 31 March Accounts Payable Accounts Receivable Cash at bank Equipment Supplies Bill Payable John, Capital A B C D $20,000 $17,500 $18,000 $15,000 $ 1,000 $ 1,500 $ 500 $20,000 $ 1,000 $ 4,000 ? 8 Under the cash basis of accounting: A B C D Net profit is the excess of cash inflows from revenue over cash outflows for expenses Revenue is recognized when goods are sold Expenses are recognized when costs are consumed B and C 3 Judy's Hairdressing Salon uses cash accounting. During 2005 the salon reported $41,000 in wages paid on the income statement. At year-end 2005 wages owing but unpaid were $2,400. If the salon changed to accrual accounting, how much would be reported as wages expense for 2005? A B C D $38,600 $41,000 $43,400 $42,600 10 Which of the following statements concerning accrual accounting is true? A B C D Net profit is the excess of cash inflows from revenue over cash outflows for expenses Revenue is recognised when earned and expenses when incurred.When there are credit transactions the accrual approach gives a better measure of economic performance than the cash approach B and C 11 Joe uses cleaning supplies on a daily basis. Under the accrual basis of accounting these supplies should be an expense of the period in which they are: A B C D Ordered Received Paid for Used 12 Prepaid i nsurance is reported as: A B C D An asset in the balance sheet A liability in the balance sheet An expense in the income statement B and C 13 Which of the following could be reported as a prepaid expense?A B C D A maintenance agreement paid in advance for the next two years Wages owing at the end of the period Rent collected in advance from tenants Interest income unpaid at the end of the period 14 According to an inventory count Cally Printing had office supplies amounting to $100 at year-end. It had $50 of supplies at the start of the year and had purchased $600 of supplies during the year. What was the supplies expense for the year? A B C D $650 $600 $550 $500 4 15 Which of the following statements relating to the Accumulated Depreciation account is correct? A B C D It normally is a balance on the left hand side of a T-account.It reflects the portion of the cost of an asset that has been assigned to expense since the item was purchased It provides information to users on the mark et value of assets It is classified as a liability in the balance sheet The following data relates to questions 16 to 18. Pam's Machine Hire purchased a machine for $6,300 on 1 July 2008. The machine had an estimated life of 7 years, at which time it was expected to have a sales value of $700. The straight-line method of depreciation was used. 16 What was the amount of depreciation charged as an expense on the machine by Pam's Machine Hire for year ended 30 June 2009?A B C D 17 $771 $800 $900 $1,600 What was the balance of the Accumulated Depreciation – Machine account in the books of Pam's Machine Hire at 30 June 2009 following the adjusting entry? A B C D $800 $1,600 $2,400 $2,700 18 What was the book value of the machine in the books of Pam's Machine Hire at 30 June 2009 following the adjusting entry? A B C D $5,600 $3,900 $5,400 $5,500 5 19 Tom purchased two vehicles for his business on 1 January 2009. These vehicles cost $50,000 each and have a useful life of 5 years wit h an expected residual of $20,000 each.The adjusting entry required for depreciation on the two vehicles on 30 June 2005 is: A B C D Increase Accumulated Depreciation $6,000; Increase Depreciation Expense $6,000 Increase Depreciation Expense $12,000; Decrease Accumulated Depreciation $12,000 Increase Accumulated Depreciation $12,000; Decrease Depreciation Expense $12,000 Increase Depreciation Expense $6,000; Decrease Accumulated Depreciation $6,000 20 Unearned revenue is an example of a(n): A B C D Accrual Liability Asset Expense 21 Rent collected from a tenant in advance is considered: A B C D Unearned Revenue Prepaid Expense A liability Both A and C 2 On 1 July 2009 Zoe's Bar & Bistro rented out part of its property at a rate of $12,000 per year. On that date, nine months rent was collected in advance and was recorded as an increase to a liability account. At 31 December 2009, (Zoe's year-end) which of the following adjusting entries should be made? A B C D Increase Cash, $6,000; Increase Rent Revenue, $6,000 Decrease Rent Revenue, $3,000; Increase Unearned Rent Revenue $3,000 Decrease Unearned Rent Revenue, $6,000; Increase Rent Revenue, $6,000 Increase Rent Receivable, $6,000; Increase Rent Revenue, $6,000 23Working capital is determined by A B C D subtracting total liabilities from total assets adding current liabilities to total assets subtracting current liabilities from current assets adding total liabilities to current assets 6 24 Decision-makers may use liquidity ratios to measure a company's financial flexibility. An example of a liquidity ratio would be the A B C D return on total assets current ratio gross profit ratio accounts receivable turnover The following information pertains to question 25. Maria's Coffee reported $56 000 for current assets and $10 500 for other assets. It also had $17 000 of current liabilities.Maria's quick assets totalled $22 000, and its long-term liabilities totalled $10 000. 25 Determine Maria's working capital A B C D 26 $5 000 $39 000 $56 500 $12 500 The following entry appeared in the general journal of the SoHo Realty Company: Office Supplies Cash Accounts Payable 2,500 500 2,000 Which of the following statements is not true about the transaction recorded in the journal entry above? A B C D SoHo's cash decreased by $500 Liabilities increased as a result of the transaction SoHo's signed a note as part of the transaction The asset, office supplies, increased as a result of the transaction 27 End of year records from Sally's Boutique show: $ Cash 20 Salaries Payable 10 Rent Expense 100 Interest Expense 50 Prepaid Rent 30 Salary Expense 20 Rent collected in advance 20 During the closing process the total debit to the Profit and Loss Summary account would be: A B C D $90 $100 $80 $170 28 Muffy Company reported the following for 2009 and 2010: Accounts receivable, 31 December, 2009 Accounts receivable, 31 December, 2010 Sales for 2010 $ 7 000 3 000 85 000 How much cash was collected from customers during 2010? A B C D $81 000 $85 000 $89 000 $75 000Use the following information to answer Questions 29 and 30 2010 $ 20 000 50 000 54 000 130 000 6 000 230 000 127 000 560 000 340 000 2009 $ 22 000 44 000 51 000 129 000 10 000 221 000 125 000 554 000 336 000 Cash at bank Marketable securities Accounts Receivable Inventory Prepaid expenses Plant and equipment Current liabilities Sales revenue (on account) Cost of goods sold 8 29 The current ratio for 2010 is: A B C D 2. 15:1 2. 05:1 1. 88:1 1. 75:1 30 Receivables turnover for 2010 is: A B C D 10. 4 times 21. 3 times 4. 10 times 10. 7 times 9 PART B: (ALL QUESTIONS TO BE ANSWERED) ANSWER QUESTION IN A NEW ANSWER BOOKLET.Question 1 Part A Recording transactions (20 marks) (10 marks) Matthew James Services Pty Ltd began a business consultancy service on 1 July 2010. The company uses a perpetual inventory system. The following transactions occurred during the first month of operations: July 2 Shareholders invested $46000 in the busine ss in exchange for shares in the company. 2 Paid $20000 for the first six month's rent. 2 Paid Local Energy Corp $300 as a deposit on electricity. 3 Purchased and installed shop fittings for a total cost of $21500 by issuing a cheque for $11500 and igning a commercial loan agreement for $10000. 4 Purchased supplies for $1580 4. Purchased $20000 worth of inventory for cash 6 Paid advertising expense of $1750. 16 Recorded sales for the first half of the month of $16480 in cash and $275 on account. Cost of inventory sold during the period was $7650. 20 Paid insurance expense for the first year of $1250. 23 Received a $50 payment from customers on account. 28 Paid salaries of $1500. 31 Recorded revenue for the second half of the month of $22729 in cash and $530 on account. Cost of inventory sold during the period was $10890. 1 Paid telephone account of $110 by cheque. Use the following account titles and numbers: Cash at Bank, 100; Accounts Receivable, 101; Supplies, 103; Inventory 104; Deposits, 105; Shop Fittings, 110; Loan Payable, 200; Share Capital, 300; Retained Profits, 310; Dividends, 320; Sales, 400; Cost of Goods Sold, 450 Rent expense, 500; Advertising expense, 501; Insurance expense, 502; Telephone expense, 503; Salary expense, 504. Required: 1. Prepare the general journal entries to record the above transactions. 10 Question 1 Part B Financial Statements (10 marks)The adjusted trial balance of Crossing Australia Limited at 30 April 2009, after all adjustments, is as follows: Crossing Australia Ltd Adjusted Trial Balance as at 30 April 2009 Account Cash at Bank Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation – equipment Building Accumulated Depreciation – building Land Accounts Payable Interest payable Wages payable Unearned Service revenue Bill payable, non-current Share capital Service Revenue Depreciation expense – equipment Depreciation expense – building Wages expense Interest expense I nsurance expense Electricity and gas expense Supplies expense Total Dr 1,370 43,740 3,690 2,290 63,930 28,430 74,330 18,260 20,000 19,550 2,280 830 3,660 69,900 64,200 98,550 6,900 3,710 60,310 5,370 8,170 4,970 6,880 305,660 Cr 305,660 Required: Prepare a classified Income Statement and a Balance Sheet for Crossing Australia Limited. 11 Question 2 ANSWER QUESTION IN A NEW ANSWER BOOKLET. Question 2 Part A Financial statement analysis (15 marks) (10 marks) The following information has been extracted from the financial statements and the notes of Softwoods Ltd. 010 Cash assets Marketable securities Receivables Inventories Prepaid expenses Property plant and equipment Current liabilities Credit sales Cost of Goods Sold Total liabilities Total assets Net profit $34 100 110 000 74 800 187 000 4 400 308 000 183 700 979 000 587 400 593 000 650 000 98 000 2009 $37 400 104 500 77 000 173 800 6 600 269 500 167 200 951 500 573 000 567 000 612 000 83 000 Receivables and inventories balances i n 2008 were the same as 2009. Required: Calculate the following for 2010 and 2009: 1. 2. 3. 4. 5. Current ratio Inventory turnover ratio Receivables turnover ratio Net profit ratio Debt to total assets ratio What conclusions can you come to in relation to Softwoods Ltd's liquidity, profitability and solvency? 12 Question 2 Part B Journalise adjusting entries (5 marks)The trial balance of Please-Pass-Me at 30 June 2010, the end of the financial year, is as follows: Pass-Me-Please Trial Balance as at 30 June 2010 Account Cash at Bank Accounts Receivable Supplies Furniture and fixtures Accumulated Depreciation furniture and fixtures Building Accumulated Depreciation building Accounts Payable Salary Payable Unearned Service revenue Capital Drawings Service Revenues Salary Expense Supplies Expense Depreciation Expense – furniture and fixtures Depreciation Expense – building Miscellaneous Expense Total Dr 198,000 370,000 6,000 100,000 40,000 250,000 130,000 380,000 45,000 29 3,000 65,000 286,000 172,000 Cr 13,000 1,174,000 1,174,000 Data needed for the adjusting entries include: a. b. c. d. e. f. Supplies on hand at year-end, $2,000 Depreciation on furniture and fixtures, $20,000 Depreciation on building, $10,000 Salaries owed but not yet paid, $5,000 Accrued service revenue, $12,000 Of the $45,000 balance of Unearned Service Revenue, $32,000 was earned during the current financial year. Required: Prepare the adjusting general journal entries. 13Question 3 ANSWER QUESTION IN A NEW ANSWER BOOKLET. Hardly Normal Ltd (15 marks) As at 30 June 2008 the company's cash account in its GL has a debit balance of $5,815. 30. The bank statement balance as at 30 June 2008 showed a balance of $7,075. 80 Cr The following additional information was noted: †¢ The bank collected a direct deposit of $1200 for Hardly Normal from a debtor and charged $10 for doing so. On 30 June the bank statement showed a debit entry of $550 for a dishonoured cheque deposited by hardl y Normal from IN Debt, a customer. The 30 June cash receipts of $1,819. 60 were not included in the bank deposits for June. They did not get processed until 1 July. Company cheque no. 480 issued to Joe Bloggs, a creditor, for $492 cleared the bank in June but it had been incorrectly recorded and posted in the company's records as $429. The bank service charge for June was $25. Interest of $48 was received. It had not been previously accrued for. Unpresented cheques at 30 June totalled $2,480. 10. †¢ †¢ †¢ †¢ †¢ †¢ Required 1. 2. Prepare the necessary adjusting entries to the company's GL as at 30 June 2008. Prepare the bank reconciliation statement as at 30 June 2008 (include workings for adjusting the GL). 14 Question 3 Part B Internal Control (5 marks) Fred Firkenstirker has worked for Derek Shonk Solicitors for several years. Fred hasn't taken a holiday in the last three years. One of Fred's primary duties is to open the mail and list the cheques rec eived.He also takes cash from clients when they leave. At times it is so hectic that Fred doesn't bother with giving clients a receipt for the cash paid on their accounts. He assures them he will see to it that they receive the proper credit. When the traffic is slow in the office Fred offers to help Mary post the payments received from clients to the accounts receivable ledger. She is always happy to receive his help, because he is a very conscientious worker. Required: Identify any principles of internal control that may be violated in this solicitor's office situation. 15 Question 4 Statement of Cash Flows (20 marks) ANSWER QUESTION IN A NEW ANSWER BOOKLET.Choice Brother Pty Limited Balance Sheet 30 June 2010 Current assets Cash at bank Accounts receivable Total current assets Non-current assets Property, plant and equipment: at cost Accumulated depreciation Total non-current assets Total assets Current liabilities Accounts payable Salaries payable Total liabilities NET ASSETS Ow ner's equity Share Capital Retained Profits TOTAL OWNER'S EQUITY 10,000 11,950 21,950 10,000 4,280 14,280 29,800 3,500 33,300 21,950 35,220 1,000 36,220 14,280 33,000 (17,000) 16,000 55,250 20,000 (8,000) 12,000 50,500 8,750 30,500 39,250 13,500 25,000 38,500 30 June 2009 Other information extracted from Choice Brothers Pty Limited Income Statement for the year ended 30 June 2010 as follows: Sales Revenue Gain on disposal of PPE Salaries Expense Other Expenses (ex. Dep. ) Net Profit Other information: †¢ 141,250 1,000 50,000 71,580 7,670 Equipment that originally cost the company $10,000 was sold during the year.The accumulated depreciated on the equipment sold was $4,000. Accounts payable balance relates to amounts owning that are classified under ‘Other Expenses' †¢ 16 Required 1. Calculate the following cash flows: a) receipts from customers b) payments to employees c) payments for other expenses d) payments for property, plant and equipment e) receipts from the s ale of property, plant and equipment (10 marks) 2. Prepare the company's Cash Flows Statement for the year ended 30 June 2010. (10 marks) 17 Indicative examination solutions Part A: Multiple Choice 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 D A D B C B C A C D D A A C B B A D A B D C C B B C D C B D 18PART B Question 1 Question 1 Part A Recording transactions Matthews James Services Pty Ltd General Journal Date 2010 2 Jul Account titles and explanation Cash Share Capital (Issued shares) Rent expense Cash (Paid first 6 months rent) Deposit Cash (Deposit on electricity) Post. Ref 100 300 Debit 46,000 46,000 Credit (20 marks) (10 marks) 2 Jul 500 100 20,000 20,000 2 Jul 105 100 300 300 3 Jul Shop Fittings 110 21,500 Loan Payable 200 10,000 Cash 100 11,500 (Purchased shop fittings paid part by cash and part covered by a loan agreement) Supplies Cash (Paid for supplies) Inventory Cash (Paid cash for inventory) Advertising Expense Cash (Paid advertisi ng expense) 103 100 1,580 1,580 4 Jul 4 Jul 104 100 20,000 20,000 6 Jul 01 100 1,750 1,750 16 Jul Cash 100 Accounts Receivable 101 Sales 400 Cost of Goods Sold 450 Inventory 104 (To record first half month sales) 20 Jul Insurance Expense Cash (Paid 1 year insurance policy) 502 100 16,480 275 16,755 7,650 7,650 1,250 1,250 19 23 Jul Cash 100 Accounts Receivable 101 (To record collection of accounts receivable) 28 Jul Salary Expense Cash (Paid salaries) 504 100 50 50 1,500 1,500 31 Jul Cash 100 Accounts Receivable 101 Sales 400 Cost of Goods Sold 450 Inventory 104 (To record second half month sales) 31 Jul Telephone expense Cash (Paid Telephone expense) 503 100 22,729 530 23,259 10,890 10,890 110 110 20 Question 1 Part BFinancial Statements Crossing Australia Ltd Income Statement For the Year Ended 30 April 2009 (10 marks) Revenues: Service revenue Expenses: Wage expense Interest expense Depreciation expense – equipment Supplies expense Insurance expense Electricity and gas exp ense Depreciation expense – building Total expenses Net profit $98,550 $60,310 8,170 6,900 6,880 5,370 4,970 3,710 96,310 $2,240 21 Question 1 Part B continued Crossing Australia Ltd Balance Sheet As at 30 April 2009 Assets Current Assets Cash at Bank Accounts Receivable Supplies Prepaid Insurance Total current assets Non-Current Assets Equipment Less: Acc. Depreciation Building Less: Acc.Depreciation Land Total Non-Current Assets TOTAL ASSETS Liabilities Current Liabilities Accounts Payable Interest Payable Wages Payable Unearned Service Revenue Total Current Liabilities Non-Current Liabilities Bill Payable TOTAL LIABILITIES NET ASSETS Owner’s Equity Share Capital Retained Profits OWNER’S EQUITY $ 1, 370 43,740 3, 690 2, 290 $ 51,090 $63,930 (28,430) 74,330 (18,260) $35,500 56,070 20,000 111,570 $162,660 $19,550 2,280 830 3,660 26,320 69,900 96,220 $66,440 64,200 2,240 $66,440 22 Question 2 Question 2 Part A Financial statement analysis (15 marks) (10 marks) Fo rmulae 1. Current ratio = Current assets/ Current liabilities 2. Stock turn (Inventory turnover) = COGS/ Average inventory 3. Debtors turn (Receivables turnover) = Net sales/ Average net receivables 4. Net profit ratio = net profit/net sales 5.Debt to total assets ratio = total liabilities/total assets Calculations 2010 Current assets: $34,100 + $110,000 + $74,800 + $187,000 + $4,400 = $410,300 2009 Current assets: $37,400 + $104,500 + $77,000 + $173,800 + $6,600 = $399,300 2010 Average inventory: ($187,000 + $173,800)/2 2009 Average inventory: $173, 800 * assumed 2008 and 2009 same balances 2010 Average receivables: ($74,800 + $77,000)/2 = $75,900 2009 Average receivables: $77,000 * assumed 2008 and 2009 same balances 1. 2. 3. 4. 5. Current ratio Stock turn Debtors turn Net profit Debt to assets 2010 410,300/183,700 = 2. 23 587,400/180,400 = 3. 26 979,000/75,900 = 12. 90 98,000/979,000 = 10% 593,000/650,000 = . 91 2009 399,300/167,200 = 2. 39 573,000/173,800 = 3. 1 951,500/77,000 = 12. 35 83,000/951,500 = 8. 7% 567,000/612,000 = . 92 Liquidity – Although it has declined slightly in 2004, Softwoods is financially sound in the short term with more than $2 in current assets to meet every $1 in current liabilities Profitability – Net profit ratio has improved marginally in 2004 with Softwoods able turning 10c of every $1 of sales into profit. For a complete picture however the ratio would need to be compared to industry. Softwoods is collecting its debtors balances at the rate of more than 12 times per year and therefore slightly better than once a month. Stock turnover however is rather slow at just over three times per year.Of course the nature of the industry would need to be considered to assess whether this level of turnover was within expectations. Solvency – Softwoods is carrying a high level of long term debt with barely enough assets to cover liabilities. This raises some concern about their long term viability 23 Question 2 Part B J ournalising adjusting entries Pass-Me-Please General Journal 30 June 2010 (5 marks) a) Dr Supplies Expense Cr Supplies b) Dr Depreciation Expense Cr Acc Depreciation (F&F) c) Dr Depreciation Expense Cr Acc Depreciation (Building) d) Dr Salaries Expense Cr Salary Payable e) Dr Accounts Receivable Cr Service Revenues f) Dr Unearned Service Revenue Cr Service Revenues 4,000 4,000 20,000 20,000 10,000 10,000 5,000 5,000 12,000 12,000 32,000 32,000 24Question 3 Question 3 Part A Date Bank reconciliation Debit (15 marks) (10 marks) Credit Account Titles and Explanation June 30 Cash at Bank Bank Charges Accounts Receivable 30 Accounts Receivable – IN Debt Cash at Bank 30 Accounts Payable – Joe Bloggs Cash at Bank 30 Bank Charges Cash at Bank 30 Cash at Bank Interest Revenue 1,190 10 1,200 550 550 63 63 25 25 48 48 (1) Original Cash at Bank account balance Add: Interest Collection of note receivable ($1,200 less collection fee $10) Less: Dishonoured cheque Error in recording c heque no. 2480 Bank service charge Adjusted Cash at Bank account balance $5,815. 30 48. 00 1,190. 00 ($550. 00) (63. 00) (25. 0) 1,238. 00 7,053. 30 (638. 00) $6,415. 30 Hardly Normal Limited Bank Reconciliation Statement As at 30 June 2007 Balance as per bank statement Add: Outstanding deposits Less: Unpresented cheques Balance as per Cash at Bank Account (1) Workings $7,075. 80 1,819. 60 8,895. 40 (2,480. 10) $6,415. 30 25 Question 3 Part B Internal Control (5 marks) This may not be an exhaustive list. Additional control issues identified must actually link to the scenario provided in the question. Violations: 1. It is Mary's responsibility to post payments to patient accounts. In allowing Fred to assist her, the establishment of responsibility principle is violated. 2.Although it appears to be a small office, it is not appropriate that Fred opens the mail, receives and records cash receipts from clients, and also appears to have custody of cash. This situation violates the segreg ation of duties principle. By posting to clients' accounts it would be possible to post credits to patient accounts and pocket the cash. 3. The documentation principle is violated when clients are not given cash receipts. Although many professional offices do not have cash registers, computerised or manual receipts are customary and necessary. 4. Independent internal verification is also being violated. There is no independent counting of the cash and comparison to total receipts. 5. Other controls are being violated. There is no mention of Fred being bonded. Also, personnel should be required to take olidays to increase the likelihood of fraud being detected. 26 Question 4 Required 1 Statement of Cash Flows (20 marks) Receipts from customers = Sales revenue + opening accounts receivable – closing accounts receivable = 141,250 + 25,000 – 30,500 = 135,750 ? Payments to employees = salaries expense + opening salaries payable – closing salaries payable = 50,000 + 1 ,000 – 3,500 = 47,500 ? Payments for other operating expenses = other operating expenses + opening accounts payable – closing accounts payable = 71,580 + 35,220 – 29,800 = 77,000 ? Payment for purchases of PPE = increase in cost value of PPE + cost value of PPE sold = 13,000 + 10,000 = 23,000 ?Receipts from sale of PPE (is a two step process) = Original cost of assets – accumulated depreciation = carrying value of asset sold = 10,000 – 4,000 = 6,000 Carrying value of asset sold + profit on disposal (OR less loss on disposal) = 6,000 + 1,000 = 7,000 Required 2 Choice Brothers Pty Limited Cash Flows Statement (Partial) For the Year Ended 30 June 2010 Cash flows from operating activities $ Cash collections: From customers Cash payments: To employees For other operating expenses Net cash generated by operating activities Cash flows from investing activities Cash collections: From sale of PPE Cash payments: For purchase of PPE Net cash generated by inve sting activities Net movement in cash Opening balance in cash 1 July 2009 Closing balance in cash 30 June 2010 135,750 (47,500) (77,000) 11,250 ? 7,000 (23,000) (16,000) (4,750) 13,500 8,750 27 28