...entertainment cannot sway a legislator it is important to ensure that the best methods are adopted towards creating a working approach accordingly. The voice of the people cannot be heard if they are not represented by the lobbyists. Creating strict rules and controls to monitor the interactions with the legislators only serves in making it difficult to engage with the members (Brodbeck et al 340). The confidence of anonymity is the main premise that leads to lobbyists engaging with the different legislators. The legislators are confident that their position and integrity is preserved and as such, there is a difference in means and models that are adopted accordingly. If these were to be curtailed it would change the position of the lobbyists groups and they would not have any power or platform to contact the...
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...term of the issue. Redemption of Debentures on a Fixed Date: In this method, payment to debenture holder is made at the expiry of the stated period. A "Sinking Fund" is created by debiting the "Profit & Loss Appropriation Account". The amount so credited in the sinking fund account is invested in the gilt edged securities. These securities are sold at the date of redemption of debentures. The sinking fund or debenture fund account is then transferred to the General Reserve. Some companies take up sinking fund insurance policy to redeem the debentures. Redemption of Debentures on annual installments: In this method, payment is made year after year, after a certain portion of the total debentures by drawings. As such the revenue account is debited with the annual drawings and the Redemption Fund Account are credited. Sinking Fund: It is a kind of reserve by which a provision is made to reduce a liability, e.g. redemption of debentures or repayment of aloan. A sinking fund is a form of specific reserve set aside for the redemption of a long term debt. The main purpose of creating a sinking fund is to have a certain sum of money accumulated for a future date by setting aside a certain sum of money every year. It is a kind of specific reserve. Whatever the object or the method of creating such a reserve may be, every year certain sum of money is invested in such a way that withcompound interests, the exact amount to wipe off the liability or replace the wasting asset or...
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...an employee who was injured by a product of company. He demanded $500,000 as compensation. But the company thinks that it can be settled at $50,000 and they can win this if this goes on for trial. They decided to report $50,000 as reserve for contingencies corresponding debit to retained earning. In 2004 plant maintenance expenditure was $44000. Normally plant maintenance was about $60,000 a yr. $60,000 had indeed been budgeted for 2006. Income statement of company contains this $60,000for plant maintenance expenses with an offsetting credit to reserve account as a noncurrent liability. In January 2006 company issued $100000 bond in return of $80,000 to one of its stakeholder. Discount of 20000 arose because 5% interest rate was below the ongoing rate. Analysis of fact one .. Only if the company is reasonably certain of loosing lawsuit and the loss amount can be reasonably estimated is a liability recognized. and when a liability is recognized a provision is created. According to paragraph 8.4 of AS 4: “Events occurring after the balance sheet date which do not affect the figures stated in the financial statements would not normally require disclosure in the financial statements although they be of such significance that they may require a disclosure in the report of the approving...
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...Sometimes executives underestimate how hard it can be to drive people out of their comfort zones. Sometimes they grossly overestimate how successful they have already been in increasing urgency. Sometimes they lack patience. (ii) Not Creating a Powerful Enough Guiding Coalition: This is because companies usually underestimate the difficulties of producing change and thus the importance of a powerful guiding coalition. Sometimes companies have no teamwork at the top and therefore undervalue the importance of this type of coalition. They expect the team to be led by a staff executive from human resources, quality, or strategic planning instead of a key line manager. (iii) Lack Vision: This is because companies do not create a vision to help direct the change effect. They do not develop strategies to achieve that vision. (2) The role of a leader in change initiatives include; establishing a sense of urgency, forming a powerful guiding coalition, creating a vision, communication the vision, empowering others to act on the vision, planning for an creating short term wins, consolidating the improvements and producing more change, institutionalizing new approached. Change is not possible without a leader. This is because change requires creating a new system, which in turn always demands leadership. Change takes place successfully when there is...
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...MANAGEMENT DEVELOPMENT INSTITUTE OF SINGAPORE Advanced Diploma in Information technology AITD2 1422A_AITD2 1421A_AITD2 1420A_AITD2 1419A Objected-oriented Programming Mini Project Question (100 marks) In this project, you will be creating new classes that are derived from a class called BankAccount. A checking account is a bank account and a savings account is a bank account as well. This sets up a relationship called inheritance, where BankAccount is the superclass and CheckingAccount and SavingsAccount are subclasses. This relationship allows CheckingAccount to inherit attributes from BankAccount (like owner, balance, and accountNumber), but it can have new attributes that are specific to a checking account, like a fee for clearing a check. It also allows CheckingAccount to inherit methods from BankAccount, like deposit, that are universal for all bank accounts. You will write a withdraw method in CheckingAccount that overrides the withdraw method in BankAccount, in order to do something slightly different than the original withdraw method. You will use an instance variable called accountNumber in SavingsAccount to hide the accountNumber variable inherited from BankAccount. The UML diagram for the inheritance relationship is as follows: [pic] Task #1 Extending BankAccount 1. Copy the files AccountDriver.java and BankAccount.java from the Blackboard. BankAccount.java is complete and will not need to be modified...
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...teachers, through participation of the STEMRAYS program, gain the intellectual and methodological skills to conduct authentic science research? The second question investigated how well teachers were able to transfer and apply their new knowledge to guide student activities. The STEMRAYS project is aimed at increasing science career interest and overall science content and processes. The program’s goals for teachers are centered on similar goals with the intent of creating a variety of authentic instructional methods. According to Crawford (2007), the use of an inquiry science approach allows teachers to facilitate a deeper understanding of science in students. Therefore, the use of partnerships with local researchers and schools (programs, teachers and students) provides an authentic inquiry based science experience. The authors argue that the formation of apprenticeships can create science interest and identity; such as they do with hobbies and sports. Falk and Dierking (2010) support this idea, “hobbyists often have collegial relationships with experts in the field and some have contributed scientific discoveries.” Therefore, use of interest driven activities such as hobbies offer people with very little formal science education opportunities to form deeper scientific knowledge. If after school programs are not merely an extension of the regular school day they lose their...
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...Financial Statements 1. List the components that comprise a typical financial statement. a. Income Statement i. Reflects Net Income and Net Loss ii. Is a moving picture of operations during the period b. Statement of Owners Equity iii. Changes in owners equity during a time period iv. Increases from Net Income v. Decreases from Withdrawals and Net Loss c. Balance Sheet vi. “Statement of financial position” vii. Lists all Assets, liabilities, and owns viii. As of a specific date + d. Statement of cash flows ix. Cash receipts and cash payments 2. Describe how changes to a company’s revenue and expenses affect their Income Statement and Balance Sheet. Revenues & Expenses on the income statement affect the Net Income, by increase whith revenue and decreasing with expenses. All of which effect the Owners Equity on the balance sheet. 3. How do changes in the Income Statement and Balance Sheet data affect a Statement of Cash Flows? Revenues in the form of payment receipts and expenses in the form of payments are both reflected on the cash flow statement from operating activities which are derived from the P&L. Cash flows from investing activities are which increase or decrease the cash flow come from the balance sheet. 4. Explain how you can evaluate the financial condition of a firm by reviewing the Balance Sheet. To discover the total entities...
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...Guillermo Furniture Store Lori A. Poole FIN-571 Marcel A. Santiz December 12, 2011 Guillermo Navallez resides in Sonora, Mexico and has made a living for a number of years creating his own style of furniture. The area of Sonora, Mexico is not only known as a beautiful vacation spot, but it is also large furniture manufacturing location in North America. A good supply of timber is an available in this area that allows Guillermo to have access to a variety of wood to create tables and chairs for his company. For years, Guillermo has had the advantage of inexpensive labor cost and charged a premium for the quality of his handcrafted pieces of furniture (Guillermo’s Furniture Store, 2011). Guillermo eventually faced a challenge during the 1990s when two obstacles caused a dent in his business. The first obstacle was the entrance of a competitor located overseas into the furniture market. The second obstacle was the opening of a large retailer causing...
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...realist language that allowed him to present a critical view of the society that surrounded him and which led him to become one of the leading representatives of New Objectivity. His profound knowledge and admiration for the Old Masters, particularly the German Renaissance painters, led him to base his new style on a technique that revived their working methods. This included the use of panel rather than canvas as a support and a mixed technique of tempera and oil; his painstaking preparation of the support; his way of using the pigments and glazes, and even his signature in the form of a monogram in the manner of Lucas Cranach. These technical resources also provided him with a way to emphasize form over color and to convey the critical objectivity that he desired, accentuating the realism of his style and endowing it with the critical, ironic and mordant tone that is so typical of his work. Dix’s revival of old techniques and styles, combined with this “return to order” on the part of a realist artist in opposition to the language of the contemporary avant-garde movements, was accompanied in his by an interest in rediscovering signs of national identity, establishing a link with the great heritage of German culture. They include macro-photography, which makes it possible to see the unique characteristics of an artist’s technique on the surface not visible to the human eye, such as the nature of the brushwork, the richness of nuances, and the slips or merits of...
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...of each type of sales promotions. The techniques are the same despite the change in voice and manner of delivery. Sales Promotion Technique Sales promotions are techniques that marketing departments use to build interest in the purchase of a good or service during a specified period of time. There are four main key sales promotion techniques including discounts and deals, increasing industry visibility, price-based consumer sales promotion, and attention-getting consumer sales promotion. The examples from the Coca-Cola Company are immense in marketing savvy and use, there also is an abundance of public information available in which to analyze and see clearly some of the methods in use. When using the process of discount and deal promotion, the manufacturing company offers the product at a discounted rate. The two types of discount and deal promotions are merchandising and case allowance. When Coca-Cola offers a merchandising allowance, they pay or give discounts to the store or other retailer for creating an off-shelf display of the products. In the case of a case allowance the store to purchases a specific quantity of the product during a specific time period at a reduced rate. A case allowance promotion is not always the best method to provide because some companies utilize an action called forward buying, in which the retailer purchases significant amounts of the product during a discounted period, warehouses them and then does not...
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...compromised, not all voices would be heard and those in power would unfairly hold their positions. It seems preposterous that such an injustice would exist in today's society, but it is already occurring in some areas of the nation. For decades, politicians have utilized the infamous method of gerrymandering to manipulate the composition of a population within the district for their own advantage. This involves shaping congressional districts to include a majority of citizens who agree with the politician responsible for gerrymandering. As a result, the politicians who use...
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...NIIT University | Ethics in Finance | | | Aman Sawhney | | | Contents Introduction 1 Why Ethics Matters 1 Ethics and Ethical Dilemma 2 Creating an Ethical Environment 3 Reasons for Unethical Behavior 4 Ethical issues in Finance 4 Financial Statement 5 Fictitious Revenues 5 Off-balance Sheet Financing 5 Hidden Reserves 5 Hostile Takeovers 6 Insider Trading 6 Introduction Ethics in general is concerned with human behavior that is acceptable or "right" and that is not acceptable or "wrong" based on conventional morality. General ethical norms encompass truthfulness, honesty, integrity, respect for others, fairness, and justice. They relate to all aspects of life, including business and finance. Financial ethics is, therefore, a subset of general ethics. Ethical norms are essential for maintaining stability and harmony in social life, where people interact with one another. Recognition of others' needs and aspirations, fairness, and cooperative efforts to deal with common issues are, for example, aspects of social behavior that contribute to social stability. In the process of social evolution, we have developed not only an instinct to care for ourselves but also a conscience to care for others. There may arise situations in which the need to care for ourselves runs into conflict with the need to care for others. In such situations, ethical norms are needed to guide our behavior. As Demsey (1999) puts it: "Ethics represents the attempt...
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...customers, employees and investors are linked up together, no sustainable value can be created for one unless for all of them. The first point of focus should be that of creating the value for the customer, remember, customers are always right. Value creation for customers will help in selling the services provided. This can only be achieved when the right employees are employed, developed and rewarded as well as when investors keep receiving consistent attractive returns. However, from a financial point of view, value is said to be created when a business earns revenue which surpasses expenses. Value creation simply put occurs when there is an additional value being added to the bottom line of a business thanks to the creation and use of new methods to maximize the shareholders wealth. Value creation from the customer point of view entails the provision of services that customers will find consistently useful. In today's business world, such value creation is typically based on constant process innovation as well as constantly understanding the customers needs with the ever changing business world. This can be achieved thanks to the commitment, energy and imagination of the employees. In order for these employees to work effectively and committed, they need to be motivated and the best way of doing this is by creating values for the employees as well. Value creation for employees will include employees to be treated respectively, the provision of continuous training and development...
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...same basis. When preparing the statement of cash flows under IFRS and U.S. GAAP there are some differences, however most of the content and format is similar. The following comparison will focus on the similarities and significant differences between U.S. GAAP and IFRS related to the statement of cash flows. A cash flow statement is a financial report that describes the sources of a company’s cash and how that cash was spent over a specified time period. It is useful for determining the short-term viability of a company, particularly its’ ability to pay bills and is generally required by IFRS and U.S. GAAP. One similarity between IFRS and U.S. GAAP in creating the statement of cash flows are both utilize the same format choices and categories. The cash flow statement may be prepared using either the direct or indirect methods. They also utilize the same three categories: operating activities; financing activities; and investing activities. Under IFRS the entity is given the option to prepare statement of cash flows using either the...
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...Final Draft of Argumentative Essay Poverty is one of the most significant and serious issues in the world. Today, millions of people are dealing with the cruel life conditions and trying to reach proper health care, nutrition, and shelter to survive. While the awareness of poverty is increasing, the majority of societies still display less attention to the causes and outcomes of poverty. It has been argued that people are poor because of their own personal shortcomings. However, rather than blaming the poor people, we should focus on the real causes of poverty, such as, effects of the economic system, economic disadvantages caused by geographical factors, and the limitations of possible solutions. It has been claimed that because of cultural, religious, physical, or intellectual deficiencies, people are poor. In other words, many people believe that poverty is the fault of those poor people. However, the tendency of “blaming the victim” is actually the main cause of poverty (Boleria and Wotherspoon, 2000). Capitalism dominates almost all of the countries and creates enormous inequalities between social classes. Since capitalism is a profit-based system, wages of working class are restrained to maintain surplus value and reinforce the segmentation between well paid jobs and marginalized jobs. Poverty is one of the reflections of this profit-based system and it is particularly derived from the high unemployment rates, the huge gap between rich and poor, and unequal distribution...
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