Reading Strategies Essay

Identify two reading goals, one short-term and one long-term. †¢Long-term reading goal: Read on a college level. †¢Short-term reading goal: Complete two reading workshops. Write a 100- to 150-word response to each of the following questions: †¢How do you currently approach the weekly readings in the course? I currently approach the reading in the course very cautiously. When reading any of the material in or out of class, I take my time. It is important to do so because by going to quick, there is a chance of missing some of the material. By reading slowly I can assure myself that I have better chance of taking in more information. Also by removing myself from any distractions, I can concentrate harder on the things that I am reading. Preparing for my reading sessions in advance helps to optimize my chance of greater concentration on my reading materials. †¢How might you incorporate three of the suggestions covered this week into your study time? By using the four steps in active reading, I can optimize how well I concentrate during my study time. By previewing my material, I can get a visual guide to anything I may not understand before reading the material. Marking my work as I go along will help with keeping me focused and concentrating. By using correct time management and can make sure nothing interferes with my study time as well. Also by choosing the correct study location will help to block out any distractions that may affect my study time. Using all of these helpful ways well help me in enhancing all of my study time. †¢How might this plan help you accomplish your reading goals? By using what I have learned so far, I have a much greater chance on accomplishing both of my reading goals. Using the four steps of active reading, and concentrating on all of my materials; it will help with my long term goal of reading on a college level. My short term goal was to complete two reading workshops. By choosing a quite study location, I will be able to concentrate harder on my work. Turning of cell phones and not using social media web sites will help as well. If I can optimize my study time and location, I will have a much greater chance of completing my short term goal of completing two workshops.

On Monsieur’s Departure Essay

â€Å"On Monsieur’s Departure†, with its highly interpretive nature and use of strong themes and appropriate literary devices, expresses the inner turmoil of its author, Queen Elizabeth, to the reader. The basic concept of this 17th century poem is one of the divided passions of Queen Elizabeth. Elizabeth loved her country with fierce loyalty and control, but also had her own personal needs, and though it is not entirely certain as to whom this poem was referencing to, it is speculated to be about either the 2nd Earl of Essex or the Duc d’Anjou (French duke of Anjou). Essex (Robert Derereaux) was 30 years Elizabeth’s junior and was a charming, opinionated man with whom Elizabeth was completely enamored, but the relationship terminated when Essex and Elizabeth had a terrible fight and Essex directed an unsuccessful revolt against her. The tragedy pierced further when Elizabeth painfully agreed to have him executed. The duke of Anjou, who later became King Henry III, was a prime member of the French royal family, being both the duke of Anjou and Alenà §on. He was an unattractive man, both body and face, but Elizabeth fancied him enough to allow a lengthy courtship by him. This courtship ended when the duke withdrew from the marriage negotiations in 1582, but there is uncertainty as to why. Elizabeth, if gaining nothing more from this arrangement, did secure a defense alliance and French aid against Spain. The country, in Elizabeth’s mind, remained above her own personal longings – she never married and reigned as the proud Virgin Queen. The first stanza of â€Å"On Monsieur’s Departure† contain uses of Petrarchan conceit, paradox, and the theme of disassociation between the queen and her desires. The Petrarchan conceit (common in Elizabethan love poems) is seen for example in line 2, â€Å"I love and yet am forced to seem to hate†. These comparisons of love and hate are extreme, as the conceptions of both love and hate are the most ultimate and divergent emotions in the English language and do demonstrate a distinct parallel. The literary paradox (statement which is contradictory yet sensical) is prominent in this poem, and can be seen in many instances. The main examples of this are Elizabeth’s contradictions shown in line 2 with â€Å"love† and â€Å"hate†, and in line 5, where she states, â€Å"I am and not, I freeze and yet am burned†. In line 5, the  figure of paradox is evident in â€Å"am† and â€Å"not†, as well as â€Å"freeze† and â₠¬Å"burned†. The recurrent disassociative theme is very prominent, suggesting Elizabeth’s frustration between being a ruler, with obligations and expectations, and being a human being, with inner yearnings and the need for expression . This is especially noticeable when Elizabeth states, â€Å"I seem stark mute but inwardly do prate†¦./Since from myself another self I turned† (4 and 6). Elizabeth is saying how she remains silent about her inner turmoil, but is churning inside with thoughts and concerns. Also, Elizabeth is saying how she turned from herself to another. This could be taken as either Elizabeth pushing aside that part of herself to remain a competent and commanding ruler, or as Elizabeth turning to another person (either the Duc d’Anjou or Essex) for personal reasons and her culpability for doing so. This theme continues throughout the poems through use of other literary contrivances and intricate wording. In the second stanza of â€Å"On Monsieur’s Departure†, Elizabeth includes figurative language, alliteration and the subject of an unattainable self to voice her thoughts. The application of figurative language (expression which uses comparison to describe) is present in line 7, where Elizabeth uses a simile (comparison using ‘like’ or ‘as’). It is written, â€Å"My care is like my shadow in the sun†, stating that to Elizabeth, there is a comparison between her care and her shadow when in the sun. This can be interpreted in many ways, but it is because a simile is used that a mental picture develops to compare the two. The use of alliteration (the repetition of like sounds in speech ) is seen in line 8, where the initial ‘f’ consonants are repeated. The line, â€Å"Follows me flying, flies when I pursue it†, with use of alliteration is concise and artful, with a condense accumulation of emotion. The theme of Elizabeth ’s care (of this man) being unattainable for her to grasp is very eminent in this stanza, with two supporting examples. The first comes in lines 7 and 8, where Elizabeth conveys, â€Å"My care is like my shadow in the sun,/Follows me flying, flies when I pursue it†. She is articulating that her own personal feelings are unconstrained to her, without the control she is wishing to enforce. The second instance in line 11, â€Å"No means I find to rid him from my breast,† expresses not that there is a physical person which she feels the need to remove, but instead that  Elizabeth believes that there is no way to eradicate the thoughts and feelings she has for this man from her heart. This continuing theme of separation from oneself and separation from emotional control is echoed throughout the poem, creating a delicate symmetry between each stanza, and allowing them to unite. The third stanza of â€Å"On Monsieur’s Departure† embraces again figurative language, repetition, and a final accumulation of sentiment through deliberative wording. In this stanza, Elizabeth uses a very important metaphor (expression relating one thing to another) to represent herself. She writes, in line 14, that she is â€Å"made of melting snow†, a phrase which captures thoughts and images that may otherwise not have been so evident. Saying that she is â€Å"made of melting snow† tells the reading audience that Elizabeth is weakened by this, or that she is softened but not yet defeated – the interpretations are ceaseless, which makes this an important part of this final stanza and of the whole poem. The repetition Elizabeth uses in this stanza are towards the end, when she writes, â€Å"Let me or float or sin, be high or low./Or let me live with some more sweet content,/Or die and so forget what love ere meant† (16-18). By using this series of choices as her final statement, Elizabeth is implying a sense of urgency and desperation in her search for a solution. Her final statement is left with a final, hopeless alternative – for her to die and forget about love. By reading these alternatives, each worse than the next, the reader is left with a final note of despondency and a climax of emotion which is expressed with phrases like â€Å"be more cruel†(15), â€Å"float or sink†¦ high or low† (16), and â€Å"die and so forget†. These are intense statements that leave the reader silent from their effect. That is the essence of this poem, a pull and tug game of emotions, with no end solution other than to live forward and exist with ever-constant turmoil, to live, to rule, to sacrifice oneself for something greater. Through the use of different literary devices and a powerful backing theme, Queen Elizabeth has left the world with a literary victory. This poem is a saddening one, but as a love poem, it is expressing not only the pain, frustration and despair longing can produce, but also the strength and might  that backs it.

Family and Family Imprints Essay

Family plays an important role in the personal as well as professional development of a human being. Since a person spends nearly 12 hours a day in the company of the family members, each and every family member leaves a strong imprint on the mind of the person. A child learns the good and the bad habits from the parents and the siblings. It is not only the verbal communication that is used as a source of education at home, which creates an imprint on the individual, but also the non-verbal communication adopted by the family members, which influences the mental and physical growth of the individual. Positive attributes like discipline, tolerance, and diligence are often acquired by noticing the father, while the positive traits, such as patience, politeness, and humility are acquired from the mother. Similarly, the siblings help each other in completing various tasks at home and in helping one another to reach full potential. While living with my family members comprising my father, mother, and a 2-year old younger sister, I have imbibed good qualities that have left imprints on my mind. This paper highlights the imprints left on me by each family member who continues to inspire me even today. Discussion According to the National Institutes of Health (2006), the background of the family leaves a strong imprint on the development of a child, which is significantly higher than the development process of a child in a daycare center. Although the daycare centers enable a child to develop social, learning, and communication skills, the imprints left on the child’s psyche are far greater during the growth phase of the child in the company of family members at home. I can vividly recall my childhood when my father and mother would drop me at the daycare center while going to their respective offices. Even though they felt the pain of separation while leaving me at the daycare center, they had no other option as they were both working to sustain the needs of our family. In spite of their duties at work, they compensated for the missing parental love by hugging, kissing, playing, and sharing the jokes with one another. My father has led a disciplined life and motivates me to live a disciplined life as well. He has been a practitioner rather than a preacher because he wakes me up at 5 in the morning and takes me for a brisk morning walk in the park. He has a good physique and is a creative thinker due to his spiritual way of living. We do exercises to stretch the body and prepare it to work throughout the day. Besides, my father also does breathing exercise during special meditation session, but I have been able to learn this advanced technique only partially. However, I must assert that I have been able to live a healthy life due to the regular routine taught to me by my father. My father has been a kind-hearted man as he always tries to help the needy and even volunteers in the hospital on the weekends. Since I am mostly preoccupied with my studies, I participate in the community health camps where I donate blood regularly. As a result of my interaction with my father, I have imbibed good problem solving and time management skills, which continue to help me reach my goals. I have self-esteem and a strong will to achieve the desired goals, and these qualities are due to the imprints of my father. My mother has a good physical and mental health, but she prefers to do the stretching as well as breathing exercises at home only because she has to complete the daily housekeeping jobs also. After completing the housekeeping work and taking shower, she calls all of us for a prayer to the Almighty God. We have a small place in the bedroom where my mother, father, my younger sister, and I worship God through chanting of hymns. It is because of these ten minutes we spend during our prayer in the morning that helps us to work morally and diligently. My mother has always been patient, cool, tolerant, calm, and generous. I can see the glow on her face due to her faith in God and her persistent efforts to live a satisfied life. Although I am ambitious and want to achieve fame in my life, I have never allowed myself to lose my temper when difficulties pose challenges in my career path. The imprints of my mother continue to inspire me to live morally even though temptations may arise every now and then. I am grateful to my mother for helping me live truthfully and according to the ethics of the profession. It is said that child is the father of man, and I also support this statement because I learn good values even from my 2-year old younger sister. She is always smiling and radiates her happiness to all of us. My mother, father, and I try to give all the comforts to her. To retain the smile and happiness of my younger sister, I change her nappies and give baby food to her, which is prepared by my mother. It is the collective responsibility that is demanded by my sister, and I need to confess that we all strive to give the best things of life to her. As an important member of the family, I consider my responsibility to take good care of my sister. I think that I am able to practice my education at school by maintaining hygienic standards of living for my sister in the house. My sister has made me more responsible and attentive. Moreover, I have developed good teamwork skills as my mother, father, and I work together to give good care to my little sister. Conclusion My family is a cohesive unit that comprises me, my father, my mother, and my 2-year old younger sister. We have been working as a united group to help each other accomplish the daily work. The imprints of my father, mother, and sister have enabled me to develop personally and professionally as I have imbibed problem solving, time management, creative thinking, and teamwork skills. Besides, my family has helped me to live morally and with self-esteem. References National Institutes of Health. (2006). Family Characteristics Have More Influence On Child   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Development Than Does Experience In Child Care. Retrieved June 6, 2010, from http://www.nih.gov/news/pr/oct2006/nichd-03.htm

Causes and Consequences of high Staff Turnover Levels in the Retail Essay

Causes and Consequences of high Staff Turnover Levels in the Retail Industry - Essay Example where this phenomenon is clearer, but the fact is that the high staff turnover level has become a common problem in most organizations while the efforts made should be characterized as rather inadequate. Specifically for the retail sector, the high staff turnover level can be explained by the severe turbulences that characterize the relevant market, which can lead to a series of negative outcomes for the companies that operate in this area. In this context, high staff turnover level in the retail sector should be regarded as an expected outcome if taking into account the series of problems of the specific industry which are being represented mostly by several failures regarding the initiatives and the decisions made by the companies’ human resources department. The particular topic has been chosen because of its importance in the operation of commercial markets internationally. More specifically, staff turnover has been found to be related with the business performance (as it will be analyzed in the sections that follow). From this view, staff turnover can also influence the performance of a whole industrial sector in case that the phenomenon is expanded to many firms of a specific sector or just to one which is considered to be the ‘indicator of stability’ in its market. Furthermore, the particular topic has been chosen because of its importance for the employees in the various industries of modern commercial markets. The main objective of current dissertation is the examination of the factors that influence the staff turnover in the retail industry as well as the parameters that can lead to an increase of the turnover in the long term. On the other hand, the consequences of the high staff turnover in the retail industry are also being examined in order to formulate secure results regarding the appearance and the development of the relevant phenomenon in modern commercial markets. It has to be noticed that current paper examines a variety of issues related

Research paper Essay Example | Topics and Well Written Essays - 2000 words

Research paper - Essay Example The term circadian traces back its roots to the Latin words circa, which means around, and dies, which means day. It refers to biological processes in plants and animals that repeat in 24-hour cycles (American Heritage Dictionary of the English Language (3rd ed.)). Indeed, the most obvious function of circadian rhythms in humans is the sleep/wake cycle, wherein adults generally tend to become sleepy between 10 PM and midnight and to awaken feeling rested between 6 AM and 8 AM. Research indicates that poor sleeping quality contributes to a myriad of illnesses such as hypertension, cardiac arrest, stroke, hyperthyroidism, and eventual fatality (Shneerson 102). Considering the detrimental effects that poor quality sleep and irregular sleeping patterns cause, it is important to know what factors contribute to the disruption of the body’s circadian rhythm. In particular, this paper would like to investigate if engaging in shifting schedules is among the factors that contribute to t he disruption of the body’s circadian rhythm. II. Review of Related Literature Circadian rhythm is just one of the many periodic cycles that the human body adheres to. Other periodic events in the human body include ultradian rhythms, women’s menstrual cycle, and circannual rhythms that are present in both males and females. Circadian rhythms are â€Å"caused by oscillators situated in the cell nuclei with a number of genes participating and creating a translational–transcriptional feedback system in which some gene products accumulate and inhibit the clock gene function, followed by a release of gene function when the gene products are removed metabolically out of the feedback cycle† (Haus & Smolensky 491). Studies show that certain social, cultural, and industrial developments have disrupted this supposedly regular body cycle. For one, the development of the light bulb has radically changed people’s sleep patterns because the artificial light tha t a light bulb emits fools the body into thinking that it is daylight and thus contributes to the phenomenon of people staying up late at night and waking up late in the morning (Moore-Ede 157). In addition, the intake of caffeine and alcohol has also affected the quality of sleep that people enjoy. Large doses of caffeine are found to increase the heart rate and stimulate the brain and behavior (Nordegren 54). On the other hand, alcohol intake briefly causes drowsiness and is thus used by some people to initiate sleep. However, tolerance to its hypnotic effect often leads to an increase in the amount being ingested until sleep-wake patterns are totally disrupted in the end (Shneerson 105). Changes in today’s lifestyle also entails that people no longer engage in â€Å"normal working hours.† Harrington defines normal working hours in such a way that the individual works during the day and rests during the night, with some time left for recreation and other activities ( 58). People who do not engage in normal working hours tend to either work at night, on with extended hours or on shifts, thus violating the regular pattern of working at day and resting at night. In particular, three generally followed shifting schedules are the night shift which starts at 2200 hours, the morning shift which begins at 0600 hours, and the afternoon shift which typically commences at 1400 hours (Harrington 59; Akerstedt 90). Akerstedt further specifies that these different shift schedules also have different effects on

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

Finance - Essay Example These open ended funds are still hailing the demanding curse of present age. Using the mutual fund scheme was more beneficial for the investors and was less fruitful for the manager or the body managing and investing the funds. Therefore to make more money from limited funds a newer system was stemmed into the fabric of trade. That system was to engage poor into this business by investing money in the form of blocks. This trick helped the managing body to withdraw more money out of the flow in the form of commission. On the contrary it involved less investment share which was easy to contribute by an average investors. Hence it had the characteristics of close ended mutual fund accompanied by replication of index. This system was easy to manipulate and friendly to the traders. In a nut shell the trade of funds took place in exchange of securities. It was a simple game that could be played without time limit. It had small shares than mutual funds, was more idealized and encouraged by majority of traders and investors. This scheme of investing the funds was given the name of exchange trade funds. It is the combination of index fund and close ended fund. Exchange trade system is more efficient than mutual fund system because it is easy to trade on fewer expanses and trade does not have time limits, buying and selling can be performed in same day. â€Å"ETFs have very low expense ratios, are traded intraday and are purchased from the secondary market through a broker who receives a commission†. (Rogers 108) The idea of joint or combined investment is centuries old even when there was no concept of currency. This fashion of mutual investment was started by the merchants particularly in Europe. While peeping into the past, the merchants of 17th century practiced to take their goods to the far areas where they were able to earn a handsome interest on their investment. But the urge to gain more profit forced their minds to seek some new

BCA Compliance Engineering and Construction Essay Assignment

BCA Compliance Engineering and Construction Essay - Assignment Example The building is located in a town center. 1.2 LIMITATIONS Limitations applied to the document are: No consideration for a detailed requirement for the Australian standards Construction safety act have not been looked at A complete architectural design for the structure not available and The provisions made for the disabled. 1.3 DESIGN DOCUMENTATION The report is based on the design brief and the set of preliminary drawings. Drawing1 Building illustration Drawing 2 Front Elevation of completed structure Drawing 3 Ground floor plan Drawing 4 Basement plan PART 2 BUILDING CHARACTERISTICS BCA Classification Class 7a: Car park and warehouse CLASS 7b: for storage, or display of goods or produce for sale by wholesale. Rise in Storey Five(5) Type of Construction Type A Effective Height Less than 25 meters. Fire Compartment Size Floor Area: 3600 square meters Volume: does not exceed the minimum stated in BCA PART 3: BCA ASSESSMENT 3.1 METHODOLODY The design provided is to be audited against t he Deemed-to- Satisfy Provisions of the Building Code of Australia, 2010(BCA). The areas discussed have been assessed to meet the performance based solutions: 3.2.0 Fire Resistance For fire stability of the structure, the BCA requires its resistance and stability, the compartments and modes of separation as well as the allowances made for protection against fire. 3.2.1 Fire Resistance and Stability The structure constructed should remain stable during fire to allow evacuation. Its elements should resist any spread of fire. This must comply with the purpose of the structure, intensity of the fire, the fire systems in place, size of the fire compartment and any interventions made by the fire brigade. The material used for the building must limit smoke produced when the building is burning. The fumes produced should not be toxic so as to allow the occupants to evacuate the building. 3.2.2 Compartment and Separation The floor area should be greater than the atria. An open area should be available near the building. This is to be used for evacuation purposes, access by the fire fighting vehicles and free from any kind of storage with exceptions for electricity substation and a pump house. A fire wall constructed must meet the FRL requirements. The materials used should not easily collapse from the heat caused by fire. Since the lift will connect to more than two levels, it should be separated from the structure. 3.2.3 Protection of Openings(BCA VOL 1 195) The building should have a minimum of two exits with a direct access to a road or an open arena. The open space should be within the structure, be accessible and not used as a storage facility. The access road must be free from any obstruction for emergency vehicles, enable pedestrians to easily move between the building and the access road. The maximum area for atria is 5000 square meters. Wall openings should be protected by automatic doorways and windows. Elements of the structure should not allow fire to reach the exit, public corridors, and adjacent buildings. Heat and smoke that arise during fire should be limited to allow the time needed to exit the building, the purpose of the structure, and access to fire systems placed in the structure. 3.3.0 Accessibility and Egress The BCA requirements for access and egress look at the provisions made for escape exits to be constructed and considerations made for the disabled. 3.3.1 Provisions for Escape (BCA VOL 1 153) In general, not less than two exits must be

Market Structures Essay Example | Topics and Well Written Essays - 750 words - 2

Market Structures - Essay Example Monopolistic competition along with oligopoly constitutes the structure of imperfect competition. Firms that are imperfectly competitive offer many products. The products are offered at administered prices. The price changes are costly and slower. The prime prediction of the theory of monopolistic competition is that firms will produce at the level where marginal cost equals marginal revenue in the short run. However in the long run, the firms will operate at zero profit levels and the demand curve will be tangential to the average total cost curve. The figure shows the marginal cost curve for the monopolist (MCsm) for the short run. MCsm is the summation of the short run supply curves (SRSc) in the competitive market. The loss of producers’ surplus (area B) and consumers’ surplus (area B) arises from the profit maximizing decision of the monopolist. A monopolistically competitive firm can operate above the level of normal profit. The above figure represents the economic loss for a monopolistically competitive firm. For a monopolistically competitive firm economic profits are zero and at equilibrium average total cost equals price. Both the firms in monopolistic competition and perfect competition are able to zero profits in the long run. It is possible for a firm operating in the monopoly market to acquire economic profits in the long run. The price is greater than the minimum point of Average total cost curve in the long run but in perfect competition price equals minimum of average total cost. In perfect competition price is lower and output is higher than monopolistic competition. A form of market where the industry is dominated by small number of sellers is called oligopoly. Each oligopolist is aware of the market conditions as few sellers are present in the market. The decision of one firm can influence or are influenced by other firms. The responses of the participants of the market are taken into account in

Transport Essay Example | Topics and Well Written Essays - 1750 words

Transport - Essay Example Overall, the air travel industry provides an opportunity, which is facilitated by more than tourism. It also incorporates economic development, global trade and international investments, thus being one of the best investment opportunities (Brennan, 2009, p. 212). As a small-scale entrepreneur, the number of tourists entering France provides any investor with the opportunity of establishing a low cost international or local flight service. In Europe, the connection between the UK and France presents a lucrative venture for business. The route that I choose as an investor is between the Heathrow, London and Charles De Gaulle, Paris airports. One of the strongest reasons why this choice makes economic sense to me is that the two stations represent the hubs of business in the regions (Doganis, 2001, p. 90). The two airports are located within two of the busiest cities in Europe. These cities have an intricate transportation network in which the passengers can get to the airports in a nu mber of transportation choices. One of the most preferred choices of transport happen to be the train, closely followed by the cab. Transport between the centers and the airport has some merits as well as demerits. One of the challenges that the surface transport modes face is the case of jams. In both the UK and Paris, traffic congestion is a common occurrence, especially during the rush hours (Fleisher. and Bensoussan, 2007, p. 62). The jams are common in the railway stations as well as the motor ways. These characteristic is one that lowers the convenience of this mode of transport. This is however, it is an occurrence prominent in certain hours, but the intricate network is quite useful when there is little traffic on the road and rail networks. The car, either in a private or cab company capacity provides another choice of transport in the centers to the airports routes. As the preferred choice of transport, the car is one of the best choices in transportation, when convenience is involved, but this is dependent on the profile of the passenger. Where luggage is involved, the car might be the best operational choice, since it provides a better means of transport from the house to the terminal as opposed to public transportation. The train, though high speed faces an inconvenience in that it is public transport and is located at strategic points for a community (Frechtling, 2001, p. 31), in which the travellers have to walk or take a car to the service stations as well as from the terminals to the airports. With the train and buses being restricted to certain routes, the inconvenience lays mostly in the distance between the public terminals and the airport terminals, for they are not the same though close, in some instances. Another challenge with the public surface transport is the challenge introduced by the complexity of the transport network, especially for a nonlocal (Duncan, 2012, p. 134). Some of the competitors in the route chosen include the Eurost ar. The train is one of the modes of transport between the two centers i.e. Paris and London. There are several favorable elements associated with the train such as speed, lower costs and the interactive nature of the travel. The car is another competitor to the mode of transport between the two terminals, since the intricate transport network provides a motorway that links the

How does Baz Luhrmann interpret Shakespeare's Romeo and Juliet Essay

How does Baz Luhrmann interpret Shakespeare's Romeo and Juliet - Essay Example This research will begin with the statement that Baz Luhrmann’s reinvention of Shakespeare’s classic Rome and Juliet depicts the classic tragedy through a visual kaleidoscope of Hong Kong action picture paradigms of chaos and color. The Luhrmann production is unconventional, moving the location to Verona Los Angeles.   The trademark use of color is juxtaposed against the bleak backdrop of gang warfare, which permeates throughout the film.   At the beginning of the film, Luhrmann opens with the prologue. In stark contrast to the well known Zeferelli version of the tragedy, Luhrmann’s conveys the prologue as a newsreel on the television as a news report. The opening sequences and title scenes of the film plays a vital role in engaging the audience and preparing the audience as to what to expect from the movie with great effect.   This places the audience at ease. The opening sequences and title scenes of both films play a vital role in engaging the audience a nd preparing the audience as to what to expect from the movie with great effect.   Moreover, Luhrmann uses quick flashes of the prologue at the beginning of the film either as newspaper headlines or in bold writing. Lurhmann’s visual narrative mirrors Shakespeare’s use of symbolism in the opening scene as there appears a broken ring on the screen. This symbolizes the tragedy of Romeo and Juliet’s love story and further mirrors Shakespeare’s lexical technique of dramatic irony in his prose.  

Girl Interrupted Movie Review Example | Topics and Well Written Essays - 500 words

Girl Interrupted - Movie Review Example As the story progresses, Susanna became attached to Lisa who influenced her to cause troubles with the other patients. There was even a point where Susanna rejected the idea that she wasn't sick as what her boyfriend had told her because she relied much on Lisa. Susanna only came to realize how dangerous Lisa's personality was after Daisy killed herself and Lisa showed no mercy. Lisa even attacked Susanna and threatened to kill herself, too. At the end of the movie, Susanna was released from the institution. She left a remarkable line "Crazy isn't about being broken, or swallowing a dark secret. It's you, or me, amplified...". According to a study conducted by World Health Organization (2010) depression, anxiety, psychological distress, sexual violence, domestic violence and escalating rates of substance use affect women to a greater extent than men across different countries and different settings.

Biochemistry involves Essay Example for Free

Biochemistry involves Essay Biochemistry involves the study of biological processes and chemical analysis which include living organism’s reactions, chemical compounds and elements. Historically, biochemistry gained prominence in the early 20th century when research on origin of living organisms began, various forms of scientific methods where used toward the success the makeup, several questions raised where; how biochemists seek to know how the brain works, the effectiveness of molecular compounds on the immune system. Furthermore, they are interested in cellular replication, differentiation and the interconnecting relationship between cells and organs. They deal with the chemical explanation of inheritance (traits, character, etc. ) and disease. Apart from this, biochemist also determines how certain molecules such as proteins, nucleic acids, lipids, vitamins and hormones function and their involvement in metabolic processes. Mostly on regulation of chemical reactions in living cells because this shows the complex chemical reactions that occur in a wide variety of life forms. It provides the basis for advancement of medicine practically such as veterinary medicine, agriculture science and biotechnology and exciting new fields such as molecular genetics, bioengineering etc. The developed knowledge and methods are applied to in all fields of medicine, agriculture, chemical and health related industries. Biochemistry also provides a unique research on protein structures and functions, genetic engineering and the two basic components of the rapidly expanding field of biotechnology. Being the vastest of all biological sciences, biochemistry has many fields namely neurochemistry, bio-organic chemistry, immunochemistry, physical biochemistry, molecular genetics, biochemical pharmacology and clinical biochemistry. Recent progress in these areas have developed a relationship between technology, chemical engineering, computer engineering. Reference: †¢ Biochemistry. (2008). ISCID Encyclopedia of Science and Philosophy. Retrieved April 07, 2008 from http://www. iscid. org/encyclopedia/Biochemistry †¢ Mendoza, H. M. , Shen, L. N. , Botting, C. , Lewis, A. , Chen, J. , Ink, B. , et al. (2003). NEDP1, a highly conserved cysteine protease that deNEDDylates Cullins. Journal of Biological Chemistry, 278, 25637-25643.

The Evolution And Implementation Of Internet Banking Information Technology Essay

The Evolution And Implementation Of Internet Banking Information Technology Essay In a world moving at an overwhelming pace, technology has become the essential key driver in all aspects of our life. Internet is the catalysis without which, this would have never been possible. Now that Information Technology has been heartily accepted at home as well as at work, handling activities electronically can be envisaged (Tero et al; 2004). Bill Gates (2008) once said, Banking is essential, banks are not. By this, he meant that traditional banking will gradually disappear and electronic banking, which attracts more and more new users, will replace it. According to Alter (2002), the evolution of electronic banking started with Automatic teller machines (ATMs) and has passed through telephone banking, direct bill payment, electronic fund transfer and the revolutionary online banking, which has been selected to be the future of financial electronic transactions. Internet Banking services were introduced in the early 80s by the Nottingham Building Society and the Bank of Scotland (Tait and Davis, 1989). Unfortunately these services were discontinued as the bank customers were wary and not fully ready to accept internet banking. With the rapid growth of IT in the 90s, banks launched internet banking again (Daniel, 1998) and this time, it met such an astonishing success that these electronic services ended up becoming industry standards. Internet banking is the newest delivery channel that enables bank customers, through safe and appropriate systems, to gain access to general bank information on products and services offered and their accounts. Pikkarainen, Pikkarainen, Karjaluoto and Pahnila (2004, p.224) defines internet banking to be the internet portal through which customers can use different kinds of banking services ranging from bill payment to making investment. This happens through the banks website without any intervention or inconvenience of sending faxes, letters, original signatures and telephone confirmations (Thulani et al, 2009; Henry, 2000). Through the banks website, the bank customers can carry out activities such as balance reporting, inter-account transfers, bill payment via a telecommunication network without having to leave their work or home (Aladwani, 2001; Daniel, 1999; Mols, 1998; Sathye, 1999). With just a simple click of the mouse, Internet banking gives customers access to almost all typ es of bank transactions, apart from ultimate transaction, that is, the withdrawal of cash (De Young, 2001). Using Internet as an alternative channel for the distribution of financial services has become a necessity in order to achieve competitive advantage with the arrival of globalization and more hostile competition (Flavian et al, 2004; Gan et al, 2006). THE MAURITIAN INTERNET BANKING SECTOR Internet Banking is a relatively recent phenomenon in the country and one can assure that it has started to operate locally since 1997. Due to its diversification skills ranging from agriculture, information technology and financial services, Mauritius has experienced a rapid economic growth, thus joining the league of banks that use the internet as a distribution channel for banking services. The banking sector plays an important role in the economy, both in the reduction of unemployment and in the flow of foreign currency to the economy. The two largest local banks are the Mauritius Commercial Bank Ltd and the State Bank of Mauritius Ltd. Some of the banks offering the internet banking services are the Mauritius Commercial Bank Ltd (MCB), the State Bank of Mauritius Ltd (SBM) and the Hong Kong Shanghai Bank (HSBC). The service offered encloses mainly inter account fund transfer, transfer of fund to credit card account, payment to other account, SWIFT payment orders, recharging mobile phones, foreign transfers, cheque and credit card transactions, current statement of account issue, standing order transactions, application for various accounts, loan and credit cards, bill payments. Given the cross border implications of Internet Banking which almost eradicates all geographically boundaries, it is very important to have clear supervisory rules specifying which country supervisors have control over the internet banking activities as well as the elaboration of the applicable legal regime. To keep pace with the development in this line of business, a guideline on Internet Banking was issued to all banks in February 2001. The guideline sets out a regulatory framework for providing Internet banking services in Mauritius and establishes the minimum standards that should be followed by banks providing Internet Banking services. It further describes the requirements and processes to adopt in order to obtain the approval of the Bank by financial institutions who want to offer Internet Banking services. According to this guideline which came into effect the 2 April 2001, Internet Banking refers to banking products and services offered by institutions on the internet throu gh access devices, including personal computers and other intelligent devices. Types of Internet Banking There are different forms of online banking which are web-based banking where customers can access their accounts when they use the internet (Aladwani, 2001). A second form of online banking is where the bank customer, through a modem, dials-up to the banks server to access his bank account. This is known to be dial-up banking. A type of dial-up banking, called Extranet, is a private network between a bank and its corporate customers. Currently there are three kinds of internet banking which are employed in the market place (Thulani et al, 2009; Yibin, 2003; Diniz, 1998) and these are Informational, Communicative and Transactional. An Informational website is the first level of Internet Banking. Marketing information about the banks products and services are found on a standalone server. There are typically no path between the banks internal network and the server. A Communicative/simple transactional website allows a limited amount of interaction between the customer and the banks system. The interaction is restricted to e-mail, account inquiry, loan application or static file updates (name and address). Fund transfers are not allowed. An Advanced website allows bank customers to make queries about their accounts, electronic transfer funds to and from their accounts, pay bills, update their account information and conduct other banking transactions online. Therefore a bank who is planning to offer internet banking services, is expected to create an informational website first, then introduce a communicative website and finally an advanced transactional website where customers can perform the basic transactions. Advantages of Internet Banking Both the provider and the consumer benefit from internet banking. Online banking is considered to be the most important way to decrease cost and enhance or maintain services for consumers (Hua, 2009). From the banks perspective, it is the cheapest banking products delivery channel (Pikkarainen et al, 2004). Together with saving time and money, this service minimizes the possibility of bank tellers committing mistakes ( Jayawardhena Foley, 2000). Less staff is required since the customers serve themselves in cyberspace. Karjaluoto et al (2002, p.261) argued that time and location were no longer limiting factors in banking as all over the world, customers can now easily access their accounts 24/7. Internet makes the transactions efficiently and expertly at an unmatched speed. Internet banking offers the possibility to manage several bank accounts on one site and these sites are compatible with software such as Microsoft money. With increasing competitive pressures from existing firms and new blood on the market, competition is an important logic to be considered. Using internet banking as an alternate channel has allowed banks to target various demographic segments more efficiently, thus retaining existing customers and attracting new ones. While supplying internet banking services, banks establish and extend their customer relationship (Robinson, 2000). The concept of online banking is an uprising in the field of banking and finance as the account holder does not have to visit the bank and queue to perform the basic transactions like balance inquiry, recent transactions record, transfer fund to employees accounts in the form of salary, bill payments and phone account top up. On top of this, the interest rates are higher for online banking than with traditional banking (3.4% to 4%). Many persons like internet banking as there is no credit check. If someone has a bad banking history of financial problems, at a traditional bank, their application to open a bank account would be turned down. This is not the case with internet banking. Some banks offer the facility of online loaning where an instant loan is provided by only filling a form. Internet banking web-sites are highly performing systems, easy to understand and navigate, with simple instructions designed to answer all queries about banking. Customers also have a wide range of opportunities to invest such as stock quotations and news updates (Lee, 2009). Qureshi et al (2008) stated that it is essential to extend internet banking to customers in order to maximize the advantages for both the service providers and the customers. The navigability if the site is a very vital part of internet banking as it can become one of the biggest competitive advantage of a financial body (Ortega et al, 2007). The banking sector performance increases everyday due to the rise in technology usage. Online banking is time saving (Qureshi et al, 2008). E-banking is now less vulnerable to safety and security related issues. Secure Socket Layer (SSL), Password Based Encryption (PBE) and electronic signatures has increased the level of security. If any inconsistency occurs in an account, it can be traced easily, making internet banking more trustworthy. Avinandan Prithwiraj, 2003; Urban, Sultan and Qualls, 2000 have identified trust to be an important factor for the financial online services. Furthermore an empirical study has shown that consumers make online decisions based only on trust. In developing countries, trust plays a crucial role for customers to accept and use online banking (Benamati and Serva, 2007). Belanger, Hiller and Smith (2002) defined privacy as being the ability to control and manage information about oneself. Some banks offer real time customer assistance to customers who have trouble finding their way through the web site or the proceedings of the internet banking registration through instant messaging, email or even the telephone. Disadvantages of Internet Banking Indisputably since the emergence of internet banking, it has been playing an important role for both the service providers and the consumers. Nevertheless, this phenomenon is observed differently among customers who either accept it heartily or reject it. Those who accept it, as proposed by Clark and Mills (1993), prefer impersonal relationship, that is, exchange oriented customers. They like the 24 hour availability of services, the simplicity of the transactions, the no-queuing factor and no fixed branch-operating hours (Al-Somali et al,2009) while those who reject it look for the human touch and social benefits of traditional banking. These are known as the communally oriented customers (Clark and Mills, 1993). Those who reject internet banking are wary of the risks involved in it. Featherman and Pavlou (2003) defined perceived risk as the potential for loss in the pursuit of a desired outcome of using an e-service. The risks perceived are; Financial risk it is the constant anxiety of transactions faults causing a monetary loss suffered by customers who perform online transactions. Clearly internet banking lacks the assurance provided in traditional banking (Lee et al., 2009, p.2) and this is due to the fact that online banking is considered as an innovation which is incompatible with consumers habits (Kuisma et al., 2007, p.77). Performance risk This risk is innate from the consumers fright of losses incurred by failures of online banking websites. Customers are often troubled that a disconnection from the Internet might occur while performing electronic transactions which might lead to huge unexpected losses (Kuisma et al., 2007). This was confirmed by Sathye (1999) who claimed that Internet access is a decisive variable on which the adoption of online banking depends and by Almogbil (2005) who succeeded in showing that a significant relationship exists between the speed of Internet access and the acceptance of electronic banking. Social risk It stems from the fear of being seen in a negative way by others (Kuisma et al., 2007, p.77) or causing the disapproval of ones friends/family/work group by adopting online banking (Agarwal et al., 2009, p.4). Venkatesh and Morris (2000) approve that social influence plays a central role in determining the approval of new information technologies. Nonetheless, it is commendable to note that others opinions are particularly informative in the early stages of experience (Hartwick and Barki, 1994) when potential information technologies adopters are not sufficiently informed. Privacy risk It refers to the possible loss due to fraud or a hacker, putting at risk the security of an online customer (Lee et al., 2009, p.2). This risk is emphasized since the appearance of phishers whose hobby consists on attempting to deceptively collect personal information, such as usernames, passwords and credit card details. They not only lead to users monetary loss, but also violate users privacy (Entrust, 2008). Suh and Han (2002) point out that, unlike in offline banking, that is traditional banking, trust is a pressing need in internet banking. Time risk It is the times loss and the lateness in receiving the payment or the difficulty of navigation (Lee et al., 2009, p.2). This can be due to a disorganized Web site, to slow-downloadable pages, to the long time needed to be a PC-literate. Apart from this, the credulity of an institution must be verified before opening an account in an internet bank and entrusting the life-savings of an individual. The institution must be legitimate and must be checked against the listing of the FDIC. A major disadvantage would be that when several failed attempts have been done to login the account, after having given the wrong password, the account becomes inactive. The customer will have to go through a lengthy procedure to get it reactivated again. Weeldreyer (2002) claims that internet banking is not living up to the hype. Another problem would be the down time of internet, where no customer will be able to access hi/her bank account because there is no internet connection for hours probably. The connection could also be unstable during bad climatic conditions such as heavy rain.

Examining The Mission, Vision And Value Statements Of Three Organizations

Examining The Mission, Vision And Value Statements Of Three Organizations Introduction: This report focuses on Mission, Vision and Value Statements of an organization. The report provides the full details on the goals of the organization. The report also consists of developing the organizational strategy by taking the views of the managers. Apart from this I have also mentioned the stakeholders role in the business like power and influence of the stake holders and it has a brief explanation about the stakeholders represents more challenges than opportunities. The report also consists of developing the mission statements of the 3 organizations after having a look on their purpose, values and behavioural standards. I have used appropriate concepts, tools and techniques and also provided the recommendations to improve the business. Services to improve the organization: After analyzing the 3 views of different authors, Milton Friedman, Charles Handys and S Davies, we can go with Milton Friedmans view of profit maximisation. In this literature he explains about the social responsibilities of the business. In every organization the private property system or a corporate executive is the staff of the owners of the business. Employers are the direct responsibilities to the owners. Those responsibilities conduct business in accordance with businesss desires of making more profits. In some cases the owners have different objectives for the employers. The primary responsibility of the manager is to keep the business going with the profit and to establish a corporation with the individuals who can run the organization smoothly. The performance of the manager is not easy to judge, as how well he is doing the job. But the criteria is straightforward, and all the criterion that are exists in voluntary contractual arrangement should be clearly defined. The corporate executive has their own rights of course. Voluntarily the corporate executive has many other responsibilities that he may recognize to his conscience, his family, his feelings of the charity etc. Social responsibilities are not of the business. They dont affect the running of the business. As discussed in these cases the corporate executive is spending someone elses money for a social interest. And this may affect the earning to the stockholders. If he is doing so and not running the business smoothly then there will be a great loss to the stockholders and the owners of the company. If they want they can spend the money separately in case of stock holders, customers or the employees. Rather than serving as an agent the corporate executive is exercising a distinct social responsibility if he have spent the money in some other way than actually he would have spend it. If he does so then, there will be effect on the taxes and he have to decide how the taxes should be paid. The tax processes are the governmental functions and there will be other expenditure on theses taxes. To control these functions, we have different judicial provisions, parliamentary and constitutional provisions. To separate the function of legislative we have different systems of check and balance and there are different functions of collecting the taxes according to the law. The businessman if it is self selected or may be appointed directly/indirectly should be legislator, executive and jurist. To improve the business of the organization the leader should be motivated and have to be fully confidence in running the business. Then only we can achieve the organizational goals easily with the less investment. Organizational Strategy: The implications of these views for managers development of organizational strategy are: If we go as per Milton Friedman a manager can develop the organizational strategy with the social and corporate responsibilities together. While doing both of them together the manager cannot be able to focus on every single job. To achieve the organizational goals, the managers have to take care of both the responsibilities social and corporate. In the view of Milton Friedman The business of business is business. And this is done to increase the profit. If the employees are not satisfied with the work then they work elsewhere. If the customers are not satisfied they can take the business elsewhere. So the manager have to prepare an organizational strategy in such a way that it increase the profit. According to the Charles Handys view Shareholders should be the whole and sole owners of the business. So that they are the only persons responsible for the losses and profits of the organization. We have to be accurate to call them as the investors and the owners of the business. They can prepare the organizational strategy in such a way that it should improve the business day by day. They need to take care of all the responsibilities given to the employees and have to take care of their basic needs like food, shelter and other living things. By this the employees will be motivated and will work more fast. If the business running smoothly then there will be an increase in the profit of the organization. S. Davies, J. Lukommik and D. Pitt Watson addresses the view on the organizational strategy in their book, The New Capitalists. As per this view the business is the property of its stock owners and they have to serve their interest in the business. There are millions of pension holders and other savers that own the biggest organizations all over the world. These owners have to be highly diversified in their investments. They have to keep a record of all the investments they made and they also have to keep record of whatever they are getting profit. If the owner of the company takes the interest in the business, then the success will be all to them only. As per their view the managers have to concentrate on the success of the business. However, they need to have a look and have to serve in such a way that there must be an increase in the profit. Conflicting needs, power and influence of Stakeholders: The Stakeholders represents more challenges than opportunities. Different group of stakeholders have their different interests. Some of them are common stakeholders interests and some of them are conflict stakeholders. The Employees and the stake holders have the common interest in success of the business. If there is a high profit in the business, then their jobs will be secured and more profit to the stakeholders. In the prosperity and growth of the firm, the suppliers have their own interest. There may be an expense in the dividend if wages are raised. There may be an expense of the short term profits if the managers have an interest in organizational growth. Stakeholders power and influence: The stakeholders represents more challenges than the opportunities. The study of the stake holders should not have to be a limited as it impacts on the growth of the organization. What is more important in the context of strategy is the power and influence of the stake holder and this may affect the objectives and goals of the organization. This may be a risk to the organizational growth. The firms are most probably affected by the stake holders itself if they take risk. There will be an external pressure and an internal pressure. External pressure includes the pressure from the customers, suppliers, government (through the taxation and spending), market place and including competitors. The internal pressure to the stake holders comes from their trade unions, employees, managers and the existing commitments. And it also comes from the moral and ethical perspective of the senior managers. To have the power and the influence and for the need, the stake holders must have the desire to exert influence must have to be coupled with the means of the liabilities on the company. The power of the stakeholders reflect the extent to which: They can disrupt the strategies and plans of the organization. They can cause the uncertainty in plans. Stakeholders are the need of the organization and organization is relying on them. Primary and Secondary Stakeholders: The distinction of the stake holders can be divided into two group of stakeholders. i.e.. Primary Stakeholders and Secondary Stakeholders. Primary Stakeholders are those that are most vital to the organization. And they are the group without whom the continuous participation of the company may not survive on the running of the business. For example, supplier and customer. Secondary stakeholders are those the company can be still exist without them. And the company can participate as well. Organization managing handling Share holders issues of ethics, corporate governance and regulations: The internal stakeholders have their own perspective which they might pursue, for example, organizations profit is the need of the manager and high wages and favourable work conditions are the need of the employees. There will be an extensive power to the managers. The Internal stakeholders have the negative power that can be impede while the implementing of the strategy. The stakeholders can threaten the industrial actions. They can give threaten to resign. And they may refuse to relocate. The share holders are the whole and sole owners of the organization, they have the voting rights and they can buy or sell the shares to takeover. The government issues can be handled by share holders in the following ways. It is unacceptable if they are publicising the business activities. If there is a political change then there will be a change in the law. They can refuse to buy goods or services from the fro named firms. They have to make sure that there should not be any illegal actions held. Mission statement: These are the two main components of the business. They provides managers the unity of the direction and transcends the well conceived vision of the business. The first ideology to make the mission statement There are two components in the mission statement. They are: Core Ideology and Envisioned Future. The Core Ideology defines that organization stands for what and why it is exist. This ideology is to create the demands of the business to change the process and to help the organization getting better. It defines the future of the organization and the goals and objectives of the organization depends on these vision and mission statements. If we prepare these statements in a good and strategic manner then we can get good results in the business. When the vision statement expressed and becomes tangible then it will become a mission statement. For a manager, to lead the organization such statement verbalizes the beliefs. The definition of the mission is to define the enduring purpose and fundamental purpose of the firm that sets the statement apart from the firm in similar business. Mission statement of Tata Steel The mission statement of Tata Steel is to achieve the sustainable and profitable growth in the steel and other related businesses. Through the innovative offers they have to create the differential value for the customers. There should be a step by step improvement in the technologies and the business processes. They have to get into partnership with the key stake holders faster. To create a high performing and the innovative organization they have to enhance the employees competencies. They need to be a responsible corporate citizen and have to enhance the quality of life of the employees as well as community. The mission of the Tata Steel embodies the philosophy of the business of strategic decision makers and they would like to achieve the sustainable and the profitable growth that reflects the organizations self concept like as always being the innovative organization and the high performer. Competencies, technologies, company activities and the customer needs are the key components to design a good mission statement of an organization. In the same way, with the help of new technology and the new business processes they have created a well designed mission statement to serve the customer and for the high performance. Mission Statement of Metropolitan Police: The Mission statement of the Metropolitan police is to working together for a safer London. The main aim of the metropolitan police is to develop the police services across Northern Ireland, Wales and England to improve the response of police to those victims of the cyber crime. The mission statement also includes for the most serious cyber crime incidents to be nationally investigated and they should be capable of doing the investigation. Working together by all the other partners, colleagues and all the citizens. Delivering the quality service. Responding the complaints quickly. Working as a team as each one have different part to work for a safer London. Mission Statement of Villeroy Boch: The mission statement of Villeroy Boch is to be leading lifestyle brand in Europe high competence and to present the trend style for the living and high end design. They believe that their success is by the enthusiasm of the customers and they can do it by showing their products and services to the customers. They always takes the constant challenges to satisfy the customers, a variety in the brand should be there to satisfy the customer needs. By having the innovative and committed employees a long run in the strong market can be achieved. The main task of them is to motivate the employees and cultivate their team spirit, to achieve their personal and joint goals they have to encourage them. Following trends is enough to be a successful, constant and to be a leader in the market. To secure the competitive edge and to be recognized worldwide they have to shape trends early on. Earning power is the important concern to maintain the long term success of the company. Appropriate dividends, constant and high rate of returns, earnings oriented growth and balanced portfolios are the fundamentals for this. They feel obligated not only to the employees, customers and share holders but also to the society and the environment. Development of Mission Statement: The purpose, strategy, values and behavioural standards are the key factors of mission statements. Below are some of the points that are suggested to improve the mission statement of the above three cases. In the case of Tata Steel the main point that is suggested is they have to make use of new technologies to improve the business and be the number one in the competitive market. In the case of Metropolitan Police, the key point suggested is, they require a system that is faster than the current system. They have to act on the complaints quickly. They have to open metropolitan police stations available in each area of London. In the case of Villeroy and Boch if they have to be on number one in the competitive market they have to produce variety in their products. Customers always look for variety with the cheaper price. So they have to make the products in cheaper prices. Involve Key Stakeholders and Staff. Research and Review EOF Plans and Research college. Research and Review EOF missions and College. Determine how where EOF supports/fits college mission We can use guides to develop the mission statements. The most powerful motivator in an organization Vivid description of the organization as it effectively carries out its operations. Compelling description of the state function of the organization once it had implemented the strategic plan Represent the core priorities in the organizations culture, including what drives members priorities and how they truly act in the organization Establish core values from which the program would like to operate Articulating values provides everyone with guides to choose among competing priorities guidelines about how people will work together.

Graduation Speech: No Day But Today -- Graduation Speech, Commencement

Mrs. Meke told me never to start a paper with a dictionary definition, but it only seemed fitting to site Merriam Webster today. Graduation is the act of acceptance of an academic degree or diploma. Never have Merriam and Webster been more off their mark. Graduation is much more than a simple ceremony, it is the culmination of 12 years of work, friendships, and the little moments that still make us smile. High school was more than its name leads you to believe. It wasn’t just school, it taught us a whole lot more than how to write a good essay, who laid the foundation for communism, and why we all should despise geometry proofs. High School taught us about love, life, work ethic, and how to be a person of substance, all of which might be more important than knowing what started World War I. Before we can move on, we must reflect. These have been four long years. We will cherish the good moments we have had here, games, dances, spirit days, lunches, musicals, field trips, and other countless extra curricular activities. When we look back with our rosy retrospective, these are the moments we will remember, besides in 20 years who really is going to remember how much stress their freshman bio exam caused them. We all came in this school together. We were a mixture of nervous, excited, and scared because this was an entire new world for us. Sure we may have been scared by the size of the building or we might have gotten lost on our first day, by the end of our four years, we had it all figured out. Its just our luck, the year we figure out the quickest way to each class, which hall has the coldest drinking fountain, and what is actually edible in the cafeteria, it is the year we have to leave and start this all over ag... ...lieve it or not, they really do care. They might show it by simply asking how your day was, coming in early or staying late to help you, holding a thousand reviews before the A.P. test, or letting you turn in your paper a few days late because you have had a lot on your plate and needed a little slack. There are many of you teachers here to whom we owe unending thanks and gratitude. It would simply take to long to list all of you individually and why we are thankful, but I wanted to let you know; you make me and so many others proud to be your students. Not only have you taught us millions of facts, events, and formulas, you have taught us about ourselves. There is an old Chinese Proverb that says, â€Å"Teachers open the door, but you must enter by yourself.† Well, you can let go of my hand today; I am ready to enter that door. It doesn’t get much simpler than that.

Arpanet :: essays research papers

The USSR launches Sputnik, the first artificial earth satellite. In the late 1960's the U.S. military was desperately afraid of a nuclear attack from the Soviet Union. The United States formed the Advanced Research Projects Agency (ARPA) within the Department of Defense to establish a bombproof network to connect military bases. ARPANET's physical network was established in 1969 to enable universities and research organizations to exchange information freely. The first two nodes that formed the ARPANET were UCLA and the Stanford Research Institute, shortly after the University of Utah was added to ARPANET. The Network Control Protocol (NCP) was initially used as the ARPANET protocol, beginning in 1970. By 1971, a total of 23 hosts at 15 locations were connected to the ARPANET. The following year, the first international connections occurred, linking the University College of London (UK) and the Royal Radar Establishment (Norway) to the ARPANET. The way ARPANET was set up is so that if one of the network links became disrupted by enemy attack, the traffic on it could automatically be rerouted to other links. Fortunately, the Net rarely has come under enemy attack. In the 1970s, ARPA also sponsored further research into the applications of packet switching technologies. This included extending packet switching to ships at sea and ground mobile units and the use of radio for packet switching. Ethernet was created during the course of research into the use of radio for packet switching, and it was found that coaxial cable could support the movement of data at extremely fast rates of speed. The development of Ethernet was crucial to the growth of local area computer networks. The success of ARPANET made it difficult to manage, particularly with the large and growing number of university sites on it. So it was broken into two parts. The two parts consisted of MILNET, which had the military sites, and the new, smaller ARPANET, which had the nonmilitary sites. On January 1,1983, every machine connected to ARPANET had to use TCP/IP. TCP/IP became the core Internet protocol and replaced NCP (old ARPANET language) completely. Thanks to TCP/IP MILNET and ARPANET remained connected through a technical scheme called IP (Internet Protocol); which enables traffic to be routed from one network to another as necessary. All the networks connected to the Internet speak IP, so they all can exchange messages. Although there were only two networks at that time, IP was designed to allow for tens of thousands of networks. An unusual fact about the IP design is that every computer on an IP network is just as capable as any other, so any

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