Tuesday, August 6, 2019
Knowledge Carries An Ethical Responsibility Philosophy Essay
Knowledge Carries An Ethical Responsibility Philosophy Essay We began collecting new information from the day we were born through various ways of knowing such as emotion and perception. This is because we want to learn about life and we do this by interpreting the knowledge that we possessed and possession is the state of owning something. At first we may not know or care what the knowledge that we possess carries and we continue to live our lives without knowing what they are. But as we grow in age, we may begin to question ourselves are we free to own this knowledge? Then questions may appear in our brains about the duties of carrying such knowledge and are we obligated to act upon the things we know? Does the possession of any type of knowledge carry an ethical responsibility? I agree on the claim to be reasonable that the possession of knowledge carries an ethical responsibility. Knowledge carries an ethical responsibility. My thesis is that our knowledge is interpreted from things that are representative of our social values, therefore k nowledge comes with a certain level of responsibility accordingly to the social values. I believe ethics and moral are quite different, ethics is the standard behavior expected by a group for example the society. According to Albert Schweitzer, The first step in the evolution of ethics is a sense of solidarity with other human beings, solidarity is the bond shown by a society with people and those around them. We act because there is integration between us and those around us. If one holds the knowledge to another persons life, he/she is obligated to act upon it because of our social values. It is not ethical to watch the world burn if knowing you have the ability to stop it. But I will go into the knowledge issues that derive from this claim, in order to evaluate the ethical responsibility of knowledge in different Ways of knowing and Areas of knowledge. If one should take their own ethical responsibility for their knowledge then would a primary educated person measure the same standard of ethical responsibility as a professor? Should these ethical responsibilities be a fixed standard value or a scale standard value? The measurement of ethical responsibility should not be a fixed standard value because we perceive the values of the society differently but as soon as the knowledge is directly affecting someone else, regardless of it is positively or negatively, there should be a scale standard value. I am 18 years old and I am a heart transplant recipient. I am very thankful for organ donors. 4 years ago, I was diagnosed with a heart failure and in 2008 I was put on to the heart donation waiting list and for the whole year I was on the brink of death. But a family unknown to me agreed to donate an organ of their family member who had been in a very deep coma. That person has a small chance to wake up from the coma and reunite with his /her family. However, the family decided to give the patient a peaceful death and they pulled the plug. The family had the choice of donating the organs or not. Looking back at the knowledge question, does the possession of knowledge that can save lives of many people carry an ethical responsibility? In this case, the claim depends on the nature of the knower, they donated the organs to those who are in need because they think they are ethically responsible to help the society. They placed social value higher than the small chance of their family member waking up. They acted as a utilitarian, maximizing the happiness in the society on the consequences of their actions; therefore the family believed it is the right thing to do. However, if we are to look at this case with divine command theory where all morality is dependent on the will of God, the whole stand point in this case changes. Because at the very beginning, pulling the plug is an act of murder and it is against Gods will, therefore it is morally incorrect to do so, even though you know the result could save lives and the knower will not see the need of ethical responsibility. At the center of this questions lies the different ways of knowing. As we learn in life, we also start to identify and distinguish that what is ethical and what is not in our society. Some we accept without doubt, just as we did when we our parent told us that stealing things which do not belong to us is wrong or teachers telling us that cheating in an exam or test is not acceptable. We learn what knowledge carries ethical responsibility from authority figures because these authority figures are respected as we believe they are more experience and knowledgeable than us. But do these authority figures like scientist or a literature writer carry a higher responsibility than a normal person? I would argue that everyone should take their ethical responsibility of what they know or have done, therefore scientist or literature writer should take a higher responsibility because they are doing something that is influencing the society. But there is independence between knowledge and ethics. It is more of what ethics relies on. It can be argue that the responsibility of ethics relies on the ethical principle. For example if killing people in any situation must be wrong, then why do countries still have death penalty? What is the ethical responsibility in natural science? There was a very interesting movie released in the year of 2005 called The Island where groups of cloned humans are held captive in an isolated compound and they were told that the outer world is too contaminated for human to settle in. Every week the compound staffs will harvest the clones organs for the people in the outer world who are willing to pay for the organs. If this scenario was real life, where would the ethics in this natural science of cloning in this scenario be? The buyer is of course suffering from an organ failure and is in need of an organ, the buyer knows the organ is harvested from his clone, what is the ethical decision and responsibility in this? If we are to look at this at a social stand point, it is definitely wrong to do such thing, although it is a clone, our social value sees that killing another human for your own needs is unacceptable and should be punished but the knower, the buyer may not see the same because his ways of knowing is different to the society and the way he/she see the ethical responsibility will be different. The biggest WOK in this is the emotion, the person is buying organs because of his strong emotion to live on and he would reason that the clone is a clone of himself and he may not see the responsibility in this case of action. I believe that in natural science, the need of ethical responsibility is more significant than in other area of knowledge. Ethical responsibility in other Areas of knowledge can be a must have, such as business in human science where ethical responsibility is equally needed. If a business knows chemical wastes are being produced during the production of their products, do they have the responsibility to clean up the waste caused by them? There are responsibilities when it is directly affecting the society, this is why there are laws and restriction restraining how much pollution the business can cause, but it does not force the business to clean it up completely due to economic issues, but the business holds the final decision whether it should act ethically and clean everything. Again this depends on the owner of the business, the knower, to decide where he/she should act upon this. If he does, people may view the business as an ethical company, thus increasing the business image. Therefore, the business must have the ethical responsibility to not over pollute the environment but after that, the respons ibility helping the environment depends on the knower. To bring in some conclusions from the above arguments, should the possession of knowledge carries an ethical responsibility? Ethics is the standard behavior expected by the society and it makes our moral principle. Ethical responsibility is the principle that is restraining us from doing a certain things that would affect the order of the human society as a whole. So I agree on this claim to be reasonable that the possession of knowledge carries an ethical responsibility but there should not be a fixed standard to measurement these responsibilities.
Monday, August 5, 2019
TESCOS NEIGHBOURHOOD MARKET ENTERS UNITED STATES
TESCOS NEIGHBOURHOOD MARKET ENTERS UNITED STATES The world economy has evolved from isolation from each other by barriers to cross-border activities wherein distance is no longer an issue due to advances in transportation and telecommunication technology. Moreover, it is noted that material culture is starting to look similar as national economies are merging into an interdependent and integrated global economic system (Friedman, 2005). All these processes are linked and referred to globalisation. The impact of globalisation has encouraged companies to expand its operation across its home country in order to compete in the challenging market environment. As one of the leader in the retail industry, Tesco PLC (Tesco) has taken advantage of the current environment by moving into the United States (US) for expansion purposes. The report will analyse Tescos strategy in the US by analysing the impact of globalisation towards the industry, evaluating the reasons and strategy for internationalisation, the effect and challenges faced in regards to the internalisation exercise. Description of Tesco Tesco is a United Kingdom (UK) based international supermarket chain, which has the largest global sales and domestic market share sales. Based on its revenue, the company is the third largest retailer in the world next to Wal-Mart and Carrefour (Data Monitor, 2010). The key to Tescos success is based on its low prices, high quality products and experienced customer service which overall has lead to continuing growth of profit to the company. In 2006, Tesco announced its plan to enter the US market by opening small size grocery stores named Fresh Easy Neighbourhood Market (Fresh and Easy). Tesco has selected the less aggressive market location on the west coast, California, Nevada, and Arizona to avoid the highly competitive market. The store has started its operation together with the distribution centres in 2007. Based on the latest financial report in 2009, it was noted that Fresh and Easy is currently trading at loss. Tescos competitive advantage According to Teece, Pisano and Shuen (1997), the success of a company highly depend on the uniqueness of the companys resources and capabilities in creating competitive advantages. The two main perspectives in the Resource-Based View (RBV) are the internal analysis of phenomena within an organisation and external analysis of the industry and its competitive environment (Collis and Montgomery, 1995; Eisenhardt and Martin, 2000). The resources and capabilities are evaluated in terms of value, rarity, inimitability and organisation (Barney, 1995). Furthermore, Carpenter and Sanders (2009:103) suggest that in turn for a company to gain competitive advantage, it should possess resources and capabilities that are valuable, rare, inimitable, non-substitutable and exploitable (VRINE model). The value of the resources and capabilities interacts with the market sources and will differ based on time and industry. The three fundamental market forces; scarcity, demand and appropriability determines the value of the resources and capabilities (Collis and Montgomery, 1995). To answer the question of value, organisation could evaluate whether its available resources and capabilities are meeting the market demand. As for Tesco, it relies on its brand, supply chain capabilities, store location and varied product offering wherein all these components have satisfied the value requirement, as it has been able to meet the demand in the grocery market. For instance, the company has a strong brand image that is associated with good quality, trustworthy goods that represent excellent value (Data Monitor, 2010). Resources and capabilities owned by Tesco are similar to other retailers but in terms of the brand name and variety product offering differs them from the competitors. Tesco pays detailed attention in transforming its brand through packaging and the promotion of every little worth concept. The success of the company in terms of customer loyalty relies on the loyalty card system and customises approach for each customer. In RBV concept, Tesco can be characterised as a competitive parity company based on its valuable but not rare resources and capabilities (Collis and Montgomery, 1995). Tescos strong position within the retail industry is due to its different approach in the service concept and introduction of various quality products. Moreover, it has competencies in its supply chain that affected its operational level in the work routines. Competitors could imitate the said resources and capabilities but it is difficult to do so as the tacit amount of knowledge, time and huge investment is required (Hanan and Freeman, 1984) which in the meantime, Tesco will continue to gain its competitive advantages. Based on the above evaluation, it is observed that Tesco has managed to exploits its resources and capabilities that as a result provide competitive advantages to the company. Tescos exploitation of its resources and capabilities is reflected in its market share and financial performance. Tesco currently controls about 30% of the grocery market in the UK with a turnover of à £56,910 million (Data Monitor, 2010). Moreover, with the aided competitive advantage, Tesco has managed to perform well in its international operation. Theory of globalisation The era of globalisation has started in the early 1970s due to the convergence of several political, technological, social and competitive factors. According to Yip (1989), it is considered as one of the most important business strategies as it is a process which businesses create value by leveraging its resources and capabilities across borders. The topic on globalisation has been widely discussed which resulted to different perspectives and arguments. There are two different theories in relation to globalisation which are hyperglobalists and transformationalist theory. Hyperglobalists theory argues that the world is moving towards a global world that is subject to massive economic and political process of change which is clearly identified by the existence of a single global economy. National culture differences are largely seen by the progressive powerful multinationals as variations in consumer preference is reflected in the international marketing mix (Wall and Rees, 2004:14). In view of this, the theory supports the globalisation in terms of efficient allocation of resources through international trade. In contrast, the transformational theory argues that globalisation is a powerful force impacting economic, social and political environments which involve uneven processes with unpredictable outcomes rather than linear progression to a predictable outcome. Many have argued that globalisation tends to reinforce inequalities of power both within and across nation resulting in global hierarchies if privilege and control for some but the economic and social exclusion of others (Wall and Rees, 2004:15). Therefore, the affect of globalisation is differently experienced across the globe. Based on the above theories, it is believed that globalisation can act as a tool that could benefit every human being across the globe. Although the negative effect has been discussed and identified, the same should not be ignored and must be addressed for the benefit of mankind. Globalisation drivers and its impact on the retail industry Yip (1992) has identified the globalisation drivers based on the industry conditions. Each industry has its own level of globalisation that is determined by the external drivers which are normally uncontrollable by the business or market environment. Economic, Political and Legal Financial Factors Factors In respect of the retail industry, technological factors play an important contribution to the drivers of globalisation. The technology change has impacted on the lower cost of transportation and communication as well the unit cost of production through economies of scale or the localisation of productive capacities and sourcing in low-cost economies (Lasserre, 2007:17). For example, the current electronic global marketplace would not exist without the existence of the global communication network such as the World Wide Web. Moreover, the low cost transportation has made shipping products around the world more economical, thereby helping in creating a global market. In response to the changes, Tesco has managed to apply the technology to selling through online which has is impacted on the companys sales performance. Moreover, as a result of globalisation, there is a convergence of consumer needs which has increased the brand awareness of consumers worldwide (Yip, 1989). Urbanisation and industrialisation of societies are one of the reasons for convergence of customer behaviour and needs. By having the same needs, consumers are bound to have the same requirement that leads to standardisation of products. Meanwhile, the liberalisation of trade and investments played an important factor in supporting the need of globalisation. It has therefore created a common market place and economic integration worldwide. Previously, there were rules and regulations that limit the Foreign Direct Investment (FDI) as to protect the local players. However, the scenario has changed and with the development of the free trade among nations, many companies took the advantage by doing cross-border investments to expand its market existence and profitability. In terms of Tesco, its initial output was significantly limited by the size of its domestic market in the UK but now, it has the chance to take advantages of economies of scale by going global. The trend in globalisation creates changes in the macro dimension of the environment. The change in the economic dimension has leaded the society to enter world or global economy. Clearly, the changes could be seen in the emergence of global market, global competitor and the integration of the economic. The impact of the fundamental changes is noted through the capital movements, concern on productivity and employment as well as emergence of the world economy as a dominant economy unit (Friedman, 2005). The continuous and rapid globalisation of the world economy indicate that globalisation of retailing activities is a major management issue for retailers nowadays and currently it is foresee to be more intensified in the near future. Tescos Strategy for Internalisation 5.1 Country and Risk Analysis Framework The county analysis framework provides an overview of the national business environment in terms of opportunities and risks which enable companies to enhance value creation and strategic fit for its business. Ghemawat (2007) examined distance as the root of most costs and risks of conducting business in new markets and concluded that distance is more than geography; it includes dimensions of culture, administrative and political power, and economics. Therefore, in decision-making, businesses must account for these dimensions of distance as its influences in different ways. CAGE framework is used for the analysis as it provides further in-depth analysis on the country compared to PESTEL framework. The total population of 301 million in US indicate a huge market opportunities that allow Tesco to build its position as a world largest retailer. By penetrating the market, Tesco foresee a better growth in terms of its international expansion. It is seen as a right move by Tesco to the previous expansions have proven to be a success. The operation in the US will be similar to the UK due to the same language used as medium of communication. This leads to an easy option in conducting business wherein the similar concept in the UK could be exported to the US with minimal changes in adapting to the market. US have been a dominant global power in terms of economy, political, technological and cultural affairs and has a long enjoyed its status as a superpower over nations policy making (Data Monitor, 2010). It is clearly seen from its economic point of view where the county is categorised as the largest economy in the world which is back-up with the most developed economic systems. This links to the process of entering the US market which is supported by a comprehensive legal framework for business entities that creates a positive investment climate. US have favourable policies in promoting Foreign Direct Investment. Furthermore, in the international arena, it has secured the support of majority of nations that allows it to direct global policies. With the stabilised politic environment, there is absence of violence that ensures a safety business environment. All this factors have encouraged Tesco to pursue its goal in penetrating the US market. Cross-Cultural Risk RISK Based on the risk analysis, it is identified that the main related risk to Tesco in the US are financial, economic and operational risk. In terms of financial risk, the fluctuation of the currency exchange rate and inflation will definitely have an impact on Tescos ability to operate at an efficient capacity. As to reduce the risk, Tesco has decided to enter single markets at a time and evaluate the success before considering for further expansion. For the US expansion, stores are opened based on geographic region rather than entering different states, which allow Tesco to limit its exposure to a loss if the expansion is unsuccessful. Meanwhile, for the operational risk, problems related to logistic and stock will lead to inefficiency of production and performance. 5.2 US Retail Industry Analysis The competitive environment involves factors that are relevant to an organisations strategy. The industry-based view can be analyse using Porters five forces as include it includes the overall structure rather than focusing on one element (Peng, 2009:35). The competition in the US grocery market is intense as they compete in terms of price, product and promotion. Some of Tescos major competitors in the US are Trader Joes, 7-Eleven, Safeway, and Wal-Mart. Tescos Fresh and Easy operates within the retail industry that forces are driven in the industry would identify the strength and weaknesses of the organisation. There has been a significant growth in the grocery environment in terms of size and market dominance of large players. Competitive rivalry is considered a high threat as other retailers are applying the same operation concept wherein power has been built through operating efficiency. As a result, retailers have to be innovative to maintain and build its market share. Hence, Fresh and Easy has refocused its strategy based on price and value with added value elements of good customer service (Times online, 2007). High competition is a powerful force and stands as a strong barrier for new entrants who desire to enter the industry. For example, it will be difficult for new entrants to raise sufficient fund due to large fixed costs and highly developed supply chains. This is in line with Tescos huge investment for Fresh and Easy in terms of advanced technology for stock controls systems (Euromonitor International, 2009). However, a high level of product differentiation together with low cost and dynamic market revenue growth has elevated the rivalry to an extent. Retailers in this sector are highly fragmented and therefore retailers will put considerable barriers to entry to ensure less competition in the market (Alexander and Korine, 2008). The more standardised or undifferentiated the product, the lower the switching cost and hence there is a high threat of the bargaining power of buyer. Buyer power acts to force the price down but due to the various choice of substitute products, retailers have the power for the price setting. Therefore, in meeting customers needs, customising service combine with low prices, constant promotion and better choices have enabled Fresh and Easy to control and retain its customer base. There is a low threat to the bargaining power of suppliers as often retailer such as Fresh and Easy dictate the price to be paid to the supplier as if the suppliers does not agree on the price, they will be left with no retailer. The relationship with the suppliers has impacted the limitation of the strategic freedom for the company which influences its margin. As a result, the forces of the competitive rivalry will reduce the profit margins for retailers and suppliers. There is a threat of consumers switching to substitutes due to the variety of choices of products in the market. The industry has change overtime wherein small chains of convenience stores are emerging which provides more alternative choices to the consumers. In response to this trend, Tesco has started to open Fresh and Easy based on small-scale operations in local town and city centres. The biggest threats for Tesco in regards to its Fresh and Easy stores are the rivalry and bargaining power of buyers. The retail industry in the US is viable which results to healthy profitability provided the company continuously improves itself and is flexible in the challenging market. 5.2 Tescos expansion to US Due to competition and the impact of globalisation, companies are expanding its operation to other countries outside the home country which indeed require that application of the global strategy. According to Peng (2009:18), global strategy is defined as strategy of firms around the globe which particular form of international strategy which is characterised by the production and distribution of standardised products and services on a worldwide basis. Tescos motivation for expansion to the US with its Fresh and Easy stores are merely based on market and innovation seeking as its main goal is to achieve higher profit margins as well as future organisational learning and growth. Ghemawat (2007) suggest that in order to boost sales and market share, companies have to maximise its local relevance. Therefore, by entering the US retail market organically has provided advantage to Tesco to start fresh by creating a highly distinctive new store concept. This route allows the company to manage its capital expenditure and learn from experience for its future expansion. Fresh and Easy is a small format convenience grocery stores focusing on fresh foods and ready meals at low price. The strategy to break into the US market is based on three key areas: affordability, freshness and convenience (Data Monitor, 2010). By focusing on convenience store, Fresh and Easy will not be directly competing with retailers like Wal-Mart and meanwhile will differentiate itself from the larger format traditional retailers. In addition, Ghemawat (2007) suggest that strategic choice requires some degree of prioritisation of which the AAA Triangle Model can assist the company in doing so. It is suggested that it is impossible to employ three strategies but companies normally should focus on own or two in trying to build competitive advantages. Due to the matured and intense competition in the US retail industry, it was difficult for Fresh and Easy in terms of arbitrage. Therefore based on the said model, Tesco global strategy was based on a minimal adaptation of which Fresh and Easy stores are designed, by adapting to the local responsiveness and aggregation on standardisation of product to take advantages of economy of scale. International strategy adopted by Tesco for Fresh and Easy is similar to its Tesco Express approach in the UK, featuring fresh produce, alcohol and an in-store bakery with minimal adaptation to the US consumers requirement (Times online, 2007). This is line with the integration-responsiveness framework which indicates the replication of the strategy by using its core competency and specific advantage wherein pressure of local responsiveness and pressure for global efficiency are both low (Peng, 2009:353). By using this strategy, expansion process will be at a slower compared to the global retailers but the advantage of this strategy is it provides a greater learning effect and broader knowledge-based to the company (Palmer, 2005). The minimal adaptation incorporated is related to the store format wherein larger pack sizes and more space allocation on frozen food to cater for various types of product assortment which is based on the US consumers preference (Euromonitor International, 2009). Meanwhile, the chain uses a straightforward everyday low prices strategy which is 15% cheaper compared to other competitors (Finch, 2009). The existence of Fresh and Easy has created awareness by the competitors wherein competitors have improved its products offering and seeking for a suitable location in order to compete. In terms of aggregation, it uses one brand name fit all strategy which was argued by consumers as there are no differentiation among the store brand products on value price product, natural and organic and premium products. In lieu of this, Fresh and Easy did not manage to create consumer perceptions on the brand name and subsequently affected its sales performance. 6.0 Tescos future in US In terms of profitability, Fresh and Easy has yet to make profit from its operation. There is uncertainty for the company to achieve profitability in the near future as its expansion process has delayed as compared to its initial plans due to economic crisis which particularly affected the consumers in some of its first few store opened in 2007. Therefore, it will definitely take longer period for Fresh and Easy to achieve its target goals. It was observed that Tescos Fresh and Easy stores use one brand name fits all strategy for its products and marketing strategies (Times online, 2007). This approach is not relevant to the US market as consumers have a strong perception of brands (Euromonitor International, 2009). This has to lead to confusion to consumers as there is no product differentiation between discounts or value priced, natural and organic and premium products in the stores. Fresh and Easy should separate its brand names similar to its UK approach i.e. finest for premium products and value for discounted products that will lead to a better merchandising, pricing and marketing strategies. This assist consumer to have different brand names for each category than price focused items. Further analysis is required in analysing the progress of Fresh and Easy in the US. By doing so, a decision can be made either to leave the market and expand to other potential markets. Based on Tescos track record on its international operation, the company has successfully penetrated the market well which is reflected in the financial performance. Strategy formulation is an important element as it is a continuous learning process which enables Tesco in planning for its future expansion. Tescos strategy for expansion to the US seems flawed as a different global strategy was applied although in-depth research was made before the expansion. Tesco should maintain its existing strategy to enter a market through joint venture or acquisition with an existing player in the market as it is observe as an effective manner for expansion (Palmer, 2005). Moreover, Tesco should take note that other companies which have attempted to enter US highly competitive market have failed due to the reason of not understanding the psyche of the American consumer. Tescos bold move to the US without a partner seems unreasonable as the existence of a partner will provide essential knowledge for local business environment and consumer cultures. This indeed observed when Tesco overlook on the interpretation of a convenience store in US which differs from the UK. In the US, convenience store is associated with petrol stations wherein the UK, is it a store. In addition to this, Kay (2009) indicates that findings from the US consumers suggest that consumers are less loyal to the US as purchase are made based on the cheapest price at any stores. Based on this differences, Tesco did not managed to introduce the British model in the US market although is foresee as a competitive advantage in the retail industry. Conclusion During the past years, there has been a growth in the scale of international investment and as the process continues, it is important to understand the learning and experience gained from the expansion exercise. It is undeniable that by entering new markets like US, it acts as one of the main drivers for the companys revenues and expansion strategy. However, Tesco needs to evaluate its strategy in order to sustain its performance in the US. One of the mistakes made by Tescos US expansion is believing that exporting successful business model to foreign country is an easy process. Although Tesco has its own competition advantages, the aspect of culture should not be left out as it plays an important role in ensuring the success of the business (Ghemawat, 2007). The success of a strategy depends on the strength in terms of learning, knowledge and suitability. Tesco would need to apply the entire lesson learned from the expansion exercise as future expansion is dependent on the companys capacity to recognise the sources for international learning of the knowledge gained. This will definitely allow Tesco to move, adapt and learn fast for better performance in the US market.
Sunday, August 4, 2019
The Evaluation And Labeling Of Children With Disabilities Essay
The information given me by various professionals who have repeatedly evaluated my daughter is the biggest issue that I face in my life. In order for me to resolve my issue I need to explore whether my issue lies with the professionals and the process of evaluation, or with me not wanting to accept that my child is disabled.My six and a half year old daughter, Malia, began to show signs of delayed development at age eighteen months. Her speech started to regress and there were also behavioral signs that were significant enough for me to ask our doctor for advice. When was not concerned to the point that I was I contacted Multnomah County Developmental Disability department and requested that they evaluate Malia. They agreed that that were delays, and made a referral to Portland Public Schools Early Intervention Program for special services suchas speech therapy, occupational therapy, and other early learning resources for children with disabilities. I also switched Malia to a pediat rician who immediately referred her for a full-scale evaluation at Oregon Health Sciences University (OHSU) where they have an evaluation clinic for children with disabilities. At this point Malia was two and a half years old and this is where I began to take issue with the evaluation process.The process was a one day period where up to twelve doctors, psychologists, speech pathologists, audiologists, and occupational therapists each spent thirty minutes with Malia, evaluating her based on standard tests. After six hours with Malia, the professionals gathered together and discussed their conclusions. After their discussion, they called Malia and me in. They told me that their diagnosis for her was "a mild conductive bilateral hearing loss, language disorder and borderline intelligence."That was all the information they gave me, other than to tell me that Malia's pediatrician would receive a report and follow-up accordingly. No special suggestions or support were offered to me or to Malia. I did not know the exact meaning of "borderline intelligence" at the time, so I assumed it meant her intelligence was not above average but not below. I found out at her second evaluation two years later that it means low intelligence, bordering on mental retardation. I followed up on the hearing loss with an Ear Nose and Throat (ENT) doctor and Malia had her tonsils and ... ...lp the examiners have a more complete understanding of the child. Another idea that I listed was to have the professional spend more time exploring the child's strengths andpossibilities in order to aid in designing a special program in which the child would thrive. I have spent the past four years being angry with the clinic at OHSU. I can truly say that all of this channeling and exercising (PMI and APC) has helped me to have a better understanding of why the testing is as it is, how it affects us, and most importantly, that a closed mouth does not get fed. If I want changes, I now understand that I have to speak up and talk to someone who can do something about it. Now that I am more clear about the process, I can offer something positive to help other families avoid the pain and anger thatI have endured. Knowing this, and feeling good about the road ahead, is a very good place for me to start. The most important realization for me is that Malia is still Malia, regardless of any label they placed upon her. In conclusion, whether or not I make a difference in modifying the evaluation process, I know that Malia is and always will be the same wonderful child she has always been.
Saturday, August 3, 2019
Louis Pasteur Essay -- Biographies Biography Pasteur Essays
Louis Pasteur Louis Pasteur was an example of a truly gifted person who made many wildly diverse discoveries in many different areas of science. He was a world-renowned French chemist and biologist whose work paved the way for branches of science and medicine such as stereochemistry, microbiology, virology, immunology, and molecular biology. He also proved the germ theory of disease, invented the process of pasteurization, fermentation, and developed vaccines for many diseases, including rabies. Pasteur was born on December 27, 1822 in Dole, France, and grew up in the small town of Arbois. As a young boy, Pasteur showed no particular interest in science. His talents were mainly drawing and painting. At age thirteen, he could draw remarkable pictures of his sisters, mother, and the river that ran by his home. During his youth, he developed an ambition to become a teacher. While still in his teens, he went to Paris to study in a famous school called Lyce St. Louis. During his studies to become a teacher, he was fascinated by a chemistry professor, Monsieur Jean-Baptist Dumas. He wrote home excitedly about these lectures, and decided that he wanted to learn to teach chemistry and physics, just like his favorite professor. In 1847 he earned a doctorate at the Ecole Normale in Paris, with a focus on both physics and chemistry. Becoming an assistant to one of his teachers, he began research that led to a significant discovery. He found that a beam of polarized light was rotated to either the right or the left as it passed through a pure solution of naturally produced organic nutrients, whereas when polarized light was passed through a solution of artificially synthesized organic nutrients, no rotation took place. If bacteria or other microorganisms were placed in the latter solution, then after a while it would also rotate light to the right or left. From this, he concluded that organic molecules exist in one of two forms, "left-handed'; or "right-handed'; forms. After spending several years researching and teaching at Dijon and Strasbourg, Pasteur moved in 1854 to the University of Lille, where he became the professor of chemistry and dean of the faculty of sciences. There, a main focus of research was on the manufacture of alcoholic beverages. Pasteur immediately began researching the process of fermentation. He was able to demonst... ...s one of the most important centers in the world for the study of infectious diseases and other subjects related to microorganisms, including molecular genetics. By the time of his death in Saint-Cloud on September 28, 1895, Pasteur had long since become a national hero and has been honored in many ways. Over the years, he was awarded many awards, including the Cross of the Legion of Honor, the Grand Prix medal, the Grand Cordon of the Legion of Honor, and many other awards. The life of Louis Pasteur is a perfect example of triumph over tragedy, and perseverance. After Pasteur married Marie Laurent in 1849, they had five children. Sadly, three of his children died before they reached 13 years of age. During his lifetime, Pasteur also suffered from two strokes, and one of them paralyzed his entire left side. None of these things, however, kept him from working, and none of his adversities kept him from wanting to help others. He was not only an example of an excellent scientist, but also an excellent example of a person who would not give up, no matter what happened. He once said, "Let me tell you the secret that has led me to the goal. My only strength resides in my tenacity."
Friday, August 2, 2019
People :: essays research papers
à à à à à à à à à à à à à à à à à à à à The America Book Association.à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à Co-op Terms for Author Eventsà à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à Per Publisherà à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à Publisherà à à à à à à à à à à à à à à à à à à à Specified Amountà à à à à à à à à à Detailà à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à Simon and Schusterà à à à à à à à à à à à à à à à à à à à $200.00à à à à à à à à à à On title purchased specifically for and in-store authorà à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à appearance arranged by Pocket Books, publisherà à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à will make available as an additional co-op advertising à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à allowance and amount equal to 20% (but not exceed $200)à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à of net billing for supporting order (either directly from Pocket Books à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à and/or indirectly through a wholesaler) placed by storeà à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à at which the author will appear.à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à Penguin Putman Inc.à à à à à à à à à à à à à à à à à à à à $150.00à à à à à à à à à à The publisher will contribute additional co-op funds à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à not to exceed $150, to support preapproved promotion à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à for author appearances. If the cost of the author appearancesà à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à exceeds the amount given by the publisher, retailers may à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à choose to use their regular co-op funds to pay for additional cost.à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à Hyperionà à à à à à à à à à à à à à à à à à à à $500.00à à à à à à à à à à Publisher will pay up to $500 to reimburse documented à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à expense in support of author's appearance in retailer's à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à store ( over and above retailer's annual co-op allowance.)à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à Any amount over $500 that will account wishes to claim, à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à if documented will come out of the annual co-op pool.à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à Little Brown and Companyà à à à à à à à à à à à à à à à à à à à $300.00à à à à à à à à à à The first $300 in approved cost will beà à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à considered direct advertising and will not be deducted à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à from and accounts co-op pool. The remaining amountà à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à will be drawn from the account's pool.à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à Warner Booksà à à à à à à à à à à à à à à à à à à à $300.00à à à à à à à à à à The first $300 in approved costs will be consideredà à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à advertising and will not be deducted from account's co-opà à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à pool. The remaining amount will be drawn from the à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à account's co-op. Retailers may earn additional promotional à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à will be announced during the year by letter from à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à Warner Books Marketing Director.à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à HarperCollins Publishersà à à à à à à à à à à à à à à à à à à à $200.00à à à à à à à à à à Up to $200 May be earned for each author appearance à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à scheduled by Publisher's publicity dept. This money à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à is to be used for actual expenses incurred in hosting and à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à promoting appearing author.à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à Houghton Mifflin Companyà à à à à à à à à à à à à à à à à à à à $200.00à à à à à à à à à à In addition to their annual co-op pool, retail accounts in à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à good credit standing are eligible with prior approval à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à for and additional co-operative advertising allowance à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à (outside of their calculated pool) to promote à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à approved author appearances. This allowanceà à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à will be an amount equal to 20% ( but not to à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à exceed $200) of the net billing for one supporting order.à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à Scholastic Inc.à à à à à à à à à à à à à à à à à à à à 20%à à à à à à à à à à For titles purchased specifically for in-store author/illustratorà à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à appearance connected with a designated author tour, à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à additional allowance of 20% total (front and backlist)à à à à à à à à à à à à à à à à à à à à à à à à Ã
Thursday, August 1, 2019
Financial Accounting 3 Summary
CHAPTER 1: FINANCIAL STATEMENTS Financial Statement ââ¬â the means by which the information accumulated and processed in financial accounting is periodically communicated. General purpose financial statements -PAS1 prescribes to ensure comparability both with the entityââ¬â¢s financial statements of previous periods and with the financial statements of other entities. -statements intended to meet the needs of users who are not in a position to require an entity to prepare reports tailored to their particular information needs. Components of financial statements 1. Statement of financial position 2. Income statement 3. Statement of Comprehensive Income 4. Statement of Changes in Equity 5. Statement of Cash Flows 6. Notes comprising a summary of significant accounting policies and other explanatory information objectives of financial statements -to provide information about the financial position, financial performance and cash flows of an entity that is useful to a wide range of users in making economic decisions. General features of financial statements Going Concern An entity preparing PFRS financial statements is presumed to be a going concern. If management has significant concerns about the entityââ¬â¢s ability to continue as a going concern, the uncertainties must be disclosed. If management concludes that the entity is not a going concern, the financial statements should not be prepared on a going concern basis, in which case PAS1 requires a series of disclosures. Accrual Basis of Accounting PAS1 requires that an entity prepare its financial statements, except for cash flow information, using the accrual basis of accounting. Materiality and Aggregation Each material class of similar items must be presented separately in the financial statements. Dissimilar items may be aggregated only if they are individually immaterial. Offsetting Assets and liabilities, and income and expense, may not offset unless required of permitted by a Standard or an Interpretation. Frequency of Reporting An entity shall present a complete set of financial statements at least annually. Comparative Information PAS 1 requires that comparative information shall be disclosed in respect of the previous period for all amounts reported in the financial statements, both face of financial statements and notes, unless another Standard permits or requires otherwise. Consistency of Presentation The presentation and classification of items in the financial statements shall be retained from one period to the next unless a change is justified either by a change in circumstances of requirement of a new PFRS. Measurement of elements process of determining the monetary amounts at which the elements of FS are recognized and carried in the statement of financial position and income statement. Measurement base on financial attributes 1. Historical cost- amount paid or the face value of the consideration given to acquire assets at the time of acquisition. 2. Current cost- amount that would have to be paid if the same or an equivalent asset was acquired currently. 3. Realizable value- am ount that would currently be obtained by selling the asset in an orderly disposal. 4. Present value- discounted value of the future net cash inflows that the item is expected to generate in the normal course of business. CHAPTER 2: STATEMENT OF FINANCIAL POSITION The Statement of Financial Position Elements Asset An asset is a resource controlled by the entity as a result of the past events and from which future economic benefits are expected to flow the entity. Liability A liability is a present obligation of the entity arising from past events, the settlement of which is expected to result in an outflow from the entity of resources embodying economic benefits. Equity Equity is the residual interest in the assets of the entity after deducting all its liabilities. Statement of Financial Position Presentation An entity must normally present a classified statement of financial position, separating a current and noncurrent assets and liabilities. Only if a presentation based on liquidity provides information that is reliable and more relevant may the current/noncurrent split be omitted. In either case, if an asset (liability) category commingles amounts that will be received (settled) after 12 months, note disclosure is required that eparates the longer-term amounts from the 12-month amounts. An asset shall be classified as current when it satisfies any of the following criteria: * It is expected to be realized in, or is intended for sale or consumption, in the entityââ¬â¢s normal operating cycle; * It is held primarily for the purpose of being traded; * It is expected to be realized within 12 months after the reporting period; or * It is ca sh or a cash equivalent unless restricted from being exchanged or used to settle a liability for at least 12 months after the reporting period. All other assets shall be classified as noncurrent. A liability shall be classified as current when it satisfies any of the following criteria: * It is expected to be settled in the entityââ¬â¢s normal operating cycle; * It is held primarily for the purpose of being traded; * It is expected to be settled within 12 months after the reporting period; or * The entity does not have an unconditional right to defer settlement of the liability for at least 12 months after reporting period. All other liabilities shall be classified as noncurrent. Long-term debt expected to be refinanced under an existing loan facility is noncurrent, even if due within 12 months. If a liability has become payable on demand because an entity has breached an undertaking under a long-term loan agreement on or before the balance sheet date, the liability is current, even if the lender has agreed, after the balance sheet date and before the authorization of the financial statements for issue, not to demand payment as a consequence of the breach. However, the liability is classified as non-current if the lender agreed by the balance sheet date to provide a period of grace ending at least 12 months after the balance sheet date, within which the entity can rectify the breach and during which the lender cannot demand immediate repayment. When an entity presents current and non-current assets and liabilities as separate classifications on the face of the BS, it shall not classify deferred tax assets (liabilities) as current assets. CHAPTER 6: ACCOUNTING CHANGES Changes in accounting estimate A change in accounting estimate is a normal recurring correction or adjustment of an asset or liability which is the natural result of the use of an estimate. Examples of accounting estimate a. Bad debt b. Inventory obsolescence c. Useful life, residual value, and expected pattern of consumption of benefit of depreciable asset. d. Warranty cost e. Fair value of financial assets and financial liabilities Changes in accounting estimates are to be handled currently and prospectively, if necessary. Prospective recognition of the effect of a change in accounting estimate means that the change is applied to transactions, other events and conditions from the date of change in estimate. A change in depreciation method is accounted for as a change in accounting estimate. Accounting policies -are the specific principles, bases, conventions, rules and practices applied by an entity in preparing and presenting financial statements. Changes in accounting policy A change in accounting policy shall be made only when: a. Required by an accounting standard or an interpretation of the standard. b. The change will result in more relevant or reliable information about the financial position, financial performance and cash flows of the entity. Examples of change in accounting policy a. Change in the method of inventory pricing from the FIFO to weighted average method b. Change in the method of accounting for long term construction contract. c. The initial adoption of policy to carry assets at revalued amount d. Change from cost model to fair value model in measuring investment property and property, plant and equipment e. Change to a new policy resulting from the requirement A change in accounting policy required by a standard or an interpretation shall be applied in accordance with the transitional provisions therein. If the standard or interpretation or transitional provisions or if an accounting policy is changed voluntarily, the change shall be applied retrospectively. Retrospective application means that any resulting adjustment from the change in accounting policy shall be reported as an adjustment to the opening balance of retained earnings. The amount of the adjustment is determined as of the beginning of the year. Prospective application means that the new accounting policy is applied to events and transactions occurring after the date of change. Change in reporting entity A change in reporting entity is a change whereby entities change their nature and report their operations in such a way that the financial statements are in effect those of a different reporting entity. CHAPTER 7: INTERIM FINANCIAL REPORTING Interim report is a financial reporting period shorter than one financial year. Components of an interim financial report a. Condensed statement of financial position . Condensed income statement c. Condensed statement of comprehensive income d. Condensed statement of cash flows e. Selected explanatory notes Under PAS 34, paragraph 28, the general rule in preparing interim financial statements is that costs and expenses that clearly benefit more than one interim period are allocated to the interim periods affected. Inventory loss from market decline is reported in the interim period in w hich the decline occurs. Recovery of such loss on the same inventory in later interim period is recognized as gain in the later interim period. However, any gain on reversal of inventory writedown is limited only to the amount of loss previously recognized. The effects of a disposal of segment of business are reported separately in the interim periods in which they occur. PAS 34, paragraph 39, provides that cost incurred unevenly during a financial year shall be anticipated or deferred for interim purposes only if it is also appropriate to anticipate or defer such cost at the end of the financial year. Gains should be recognized in the interim period in which they are realized. The cumulative effect of change in accounting policy is shown in the statement of retained earnings, not in the income statement. CHAPTER 8: OPERATING SEGMENT Under PFRS 8, an entity shall disclose information about an operating segment that meets any of the following quantitative thresholds: 1. The segment revenue, including both sales to external customers and intersegment sales or transfers, is 10% or more of the combined revenue, internal and external, of all operating segments. 2. The segment profit or loss is 10% or more of the greater of the following: a. The combined profit of all operating segments with profit b. The combined loss of all operating segments with loss 3. The assets of the segment are 10% or more of the combined assets of all operating segments. Under PFRS 8, paragraph 13, segment revenue includes sales to external customers and intersegment sales of operating segments engaged solely in manufacturing. Revenue includes both sales to unaffiliated customers and intersegment sales. Under PFRS 8, paragraph 15, the total external revenue attributable to reportable operating segments must be at least 75% of the total entity external revenue. General corporate expenses are not allocated to operating segments as a measure of profit or loss. If the total external revenue attributable to reportable segments constitutes less than 75% of the entity external revenue, additional segments shall be identified even they do not meet the 10% quantitative threshold until 75% of the entity external revenue is included in reportable segments. Moreover, reportable segments that are below the10% threshold can be aggregated as one segment if they have similar economic characteristics and share a majority of the five aggregation criteria as follows: a. Nature of product b. Nature of production process c. Class of customer d. Method of distributing product e. Regulated environment CHAPTER 9: CASH AND ACCRUAL BASIS Method of Accounting. 1. Cash Basis- Income is recognized when received regardless of when earned, and expense is recognized when paid regardless of when incurred. 2. Accrual Basis- Income is recognized when earned regardless of when received, and expenses are recognized when incurred regardless of when paid. Computation of sales under accrual basis Cash Sales XX Sales on account: Trade accounts and notes receivable XX Collection of Trade accounts and notes receivable XX Sales returns, allowances and discounts XX Accounts and notes receivable write off XX Trade notes receivable discounted XX Total XX Less: trade accounts and notes receivable,beg XX Total Sales XX Computation of Purchases under Accrual Basis Cash Purchases XX Purchases on account XX Trade accounts and notes payable,end XX Payment of Trade accts and Notes payable XX Purchases return, discounts & allowances XX Total XX Less: Trade accts and notes payable,beg XX Total purchases XX Income other than sales Income received XX Add: Deferred income- beg XX Accrued income- end XX Total XX Less: Deferred income- endXX Accrued income- begXX XX Income for the current year XX Expenses in general Expenses paid XX Add: prepaid expenses- beg XX Accrued expenses- end XX Total XX Less: Deferred income- endXX Accrued income- beg XX XX Income for the current year XX Prepaid expenses are expenses paid in advance but not yet incurred. These are assets. Accrued expenses are expenses already incurred but not yet paid. These are liabilities. CHAPTER 10: SINGLE ENTRY Single Entry System A system of record keeping in which transactions are not analyzed and recorded in the double entry framework is called a single entry system when the records are said to be incomplete. CHAPTER 11: ERROR CORRECTION Prior Period Errors Prior period errors are omissions from, and misstatements in, an entityââ¬â¢s financial statements for one or more prior periods arising from a failure to use, or misuse of, reliable information that was available and could reasonably be expected to have been obtained and taken into account in preparing those statements. Such error result from mathematical mistakes, mistakes in applying accounting policies, oversights or misinterpretation of facts, and fraud. Prior period error shall be corrected by retrospective restatement, meaning, if comparative statements are presented, the prior year statements are restated to correct the error. Types of Errors a. Statement of financial position errors *affect the statement of financial position and real accounts only, meaning, the improper classification of an asset, liability and capital account. b. Income Statement errors * affect the income statement or nominal accounts only, meaning, the improper classification of revenue and expense account c. Combined statement of financial position and Income statement errors * affect both the statement of financial position and income statement ecause they result in a misstatement of net income If it is impracticable to determine the period specific effect of an error on comparative information for one or more prior periods presented, the entity must restate the opening balances of assets, liabilities, and equity for the earliest period for which retrospective statement is practicable (which may be the current period) Further, if it is impracticable to determine the cumulative effect, at the beginning of the current periods, the ent ity must restate the comparative information to correct the error prospectively from the earliest date practicable. CHAPTER 12: STATEMENT OF CASH FLOW Cash comprises cash on hand and demand deposits. Cash equivalents are short-term, highly liquid investments that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value. Cash flows are inflows and outflows of cash and cash equivalents. Operating Activities are the principal revenue-producing activities of the entity and other activities that are not investing or financing activities. Investing activities are the acquisition and disposal of long-term assets and other investments not included in cash equivalent. Financing activities are activities that result in changes in the size and composition of the contributed equity and borrowings of the entity. *Interest and dividends received and paid may be classified as operating, investing, or financing cash flows, provided that they are classified consistently from period to period. Interest paid ââ¬â usually operating; alternatively financing Interest received ââ¬â usually operating; alternatively financing Dividends received ââ¬â usually operating; alternatively financing Dividends paid ââ¬â usually financing; alternatively operating FINANCIAL STATEMENT ANALYSIS THE BASIC FINANCIAL STATEMENT ANALYSIS 1. HORIZONTAL OR COMPARATIVE ANALYSIS -represents the differences in absolute amount and in percentage between two periods (i. e. years, quarters, etc. ), two companies, actual and budgeted date, and other bases analyses. Percentage of changes= Amount of change/Base 2. TREND ANALYSIS It extends beyond two years. The purpose of trend analysis is to track down what happened in the past and provide a pattern on what may happen in the coming years. It uses indexes and ratios to simplify the visible complications of numbers contained in financial reports. . THE VERTICAL ANALYSIS (OR COMMON-SIZE ANALYSIS) It gets the proportional component of each of the variables in the financial statements in relation to a chosen base 4. THE FINANCIAL MIX RATIO CLASSIFICATION OF FINANCIAL MIX RATIOS a. Profitability Ratios It measures the ability of the business to generate profit in relation to sales, investments, assets, equities, or common shares outstanding. â⠬ ¢RETURN ON SALE = Net Income Net sales â⬠¢GROSS PROFIT RATE = Gross Profit Net Sales â⬠¢RETURN ON TOTAL ASSETS = Net income + Interest expense, net of tax/ average total assets RETURN ON SHE = Net income Ave. SHE b. Growth Ratios -Are indicative of the organizationââ¬â¢s potential and attractiveness as an investment option. EARNINGS PER SHARE = Net income ââ¬â Pref. dividend Ave. common shares outstanding BOOK VALUE PER SHARE = Shareholderââ¬â¢s Equity Ave. shares outstanding c. Liquidity Ratios Liquidity refers to the ability of the business to pay its obligations in cash as they mature. OPERATING TURNOVER = collection period + inventory days INVENTORY TURNOVER = COGS Ave. inventory INVENTORY DAYS = 360/ inventory days RECEIVABLE TURNOVER = Net credit Sales Ave. Trade receivables COLLECTION PERIOD = 360/ ARTO PAYABLE TURNOVER = Net credit purchases Ave. Trade payables PAYABLES DAYS = 360/ payable turnover NET WORKING CAPITAL = Current Assets-Current Liabilities CURRENT RATIO = Current asset/ Current Liabilities QUICK RATIO = Quick Assets/ Current Liabilities d. Leverage Ratios Financial leverage is a measure of risk. DEBT to EQUITY RATIO = total debt Net SHE DEBT to ASSET = Total debt total assets TIME INTEREST EARNED = EBIT interest expense
Advantages and Disadvantages of A Single Sex Education
Why would anyone want to go to an all girls' school? This is a question I have often pondered. Can you imagine school without the obnoxious comments from boys, football games, and gossiping about boys? This doesn't sound like a lot of fun, does it? You girls may think about this and decide there are no advantages to an all girls' school, but in reality, all girls' schools have many. Believe it or not, having boys around is not the most important factor in our education. In fact, boys in the classroom are actually a setback. All girls' schools are more advantageous than coeducational schools because there are fewer distractions, you will have a higher self esteem socially and academically, and you will be more successful academically. Let's face it, we are obsessed with boys. We act and dress with only a boy's opinion in mind. Boys not only preoccupy our minds in a social setting, but in the classroom as well. We know that we know the answers to the questions in school, but we often avoid raising our hand in class. Why? We are afraid that the answer might be wrong, and the boys will laugh at us. Even worse, we might be right, and then they will think we are nerds! We also must confess that we tend to space out during lessons and daydream about the star quarterback two seats over. These distractions could be eliminated if boys are removed from the setting. Without them, we could focus on education rather than what they think of us. Self-esteem is another issue that will improve with the absence of the male species in the classroom. In high school, there is an extreme amount of pressure to fit in. Some may not fit in, and some prey on others in order to fit in and increase their own self esteem. Usually it is the boys who will tease us, whether it's because they like us or they want to get a laugh out of their friends. This teasing can crush our confidence and cause us to become very self-conscious. Without boys, we can confidently walk down the hallway without dodging annoying boys who relentlessly torture us. Some may say, ââ¬Å"What about other girls? â⬠Girls can definitely be cruel and catty, but usually this bitterness towards another girl sprouts from a boy, whether she stole your boyfriend or he likes her better. How many times have you found yourself gossiping with your friends about how you are much prettier than the girl your crush likes? Girls would get along better if there were no boys around to fight about. Boys will not get in the way of friendships, which are far more important than relationships, making the high school experience much better for a girl. A single sex atmosphere will also increase our self-esteem academically. Studies prove that women do better in single sex schools and have higher self-esteems (Cooner, Knight, and Wiseman 90). In coed classrooms, boys receive more attention, whether it is criticism or praise, than we do (Cooner, Knight, and Wiseman 91). How often does a teacher stop a class to yell at a typically obnoxious boy? We therefore feel ignored by our teachers. This has a dramatic effect on our confidence in the classroom. In an all girls' school we can receive our teacher's attention more frequently and ask questions without feeling embarrassed. More attention means more praise, which we clearly deserve. The increase in attention from our teachers will help to increase our academic self-esteem. The most important advantage of an all girls' school, however, is academic success. Did you know that coed schools are structured around the development of male students? Writing, reading, and math concepts, such as long division, are introduced to us when a boy's mind is ready to process and understand the information (Cooner, Knight, and Wiseman, 90). The fact that we were developmentally ready to understand this information a few years ago is ignored. I find that completely unfair and I'm sure that you can agree. Girls develop math and verbal skills faster than boys do, so we rarely experience any challenges in the classroom. No wonder we are so bored! Our boredom can negatively affect our achievement. I reiterate the fact that the teachers often ignore female students, even high achieving females. This discourages us from exerting ourselves in their schoolwork. Why bother pulling an all-nighter preparing for a presentation when a boy is going to receive more attention for his presentation anyway? An all girls' school is structured around our development, which poses an academic challenge to us. We will then strive to succeed and in turn receive praise from our teachers. Our increased interest in our schoolwork improves our attitudes as well as our grades, which will help us in the future. Better grades will increase our opportunities to attend good colleges and get good jobs. Our increase in confidence will prepare us for these jobs that we will be able to get with a good education. You still may not be convinced that an all girls' school is better than a coeducational school because you are wondering how it's possible to meet boys if they are not in school. Don't worry girls! There are tons of places to meet boys. There are boys everywhere (except in all girls' schools of course) including the mall and your neighborhood. Let's consider another fact. If an all girls' school exists in your town or nearby, chances are an all boys' school is not far off. If not, where would all of the boys go? Trust me, the boys are looking for us girls as much as we are looking for them. Clearly, this issue is not an obstacle in your social life. Life without boys? It sounds worse than it really is. You can now see that having boys in the classroom is a setback for us girls. Without them around, we can focus on our valuable education. We will have all attention focused on our work and our needs, which is very beneficial to receiving an effective education. We can also focus on forming friendships with other girls in the school without worrying about them stealing our boyfriends. Catty gossip can be eliminated from everyday school life, allowing us to fully concentrate on our education. Our education should be our first priority in life, and an all girls school in turn makes us their first priority, improving the quality of our education.
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