Today’s Country Differences in Accounting Standards

Today’s Country Differences in Accounting Standards There are five main influences on a country’s accounting system. Having a different system of accounting is like having a different culture for countries. There are many different things that dictate how an accounting differs. The relationship between business and providers of capital, political and economic ties with other countries, inflation accounting, level of development, and the national culture are the five influences on accounting systems. Relationship between business and providers of capitalFirms can gain capital from numerous sources; selling stock and shares is one way or borrowing from a bank is another. How each country’s firms gain capital has to do with what type of accounting system the country has. The United States is full of people wanting to invest in a company or buy stock in a company. Not only do we have television stations dedicated to the stock market, but as a business student we hear about it constantly. The U. S. tries to use their accounting system to inform individual investors about the firms they want to invest in.There are other countries that use banks more to gain capital. In these cases the accounting system is geared towards the government and the banks that provide the majority of the capital. Political and economic ties with other countries Politics and a country’s economic system can have a big effect on an accounting system. These two factors seem to bring accounting system together rather than apart. NAFTA and EU have both brought the countries involved together. They have put into practice norms throughout each accounting system to make them more uniform.Inflation Accounting Inflation is a big factor when deciding how to approach an accounting system. Inflation accounting is all about the historic cost principle. It says that currency is not losing its value due to inflation. â€Å"If inflation is high, the historic cost principle undere stimates a firm’s assets, so the depreciation charges based on these underestimates can be inadequate for replacing assets when they wear out or become obsolete (Hill, 2011, p. 635). † Level of Development Developed countries seem to have everything easier.They are able to acquire more capital and business. They have more highly educated and skilled workers. The more developed countries seem to have it all and the less developed countries with the smaller businesses have taken notice. Smaller, less developed countries tend to copy or attempt to copy the larger, more developed countries in their accounting systems. This can cause problems because the less developed countries do not have all of the resources necessary to have an accounting system fit for a well-developed country. National CultureA country’s culture comes into play in accounting systems when thinking about uncertainty avoidance. A country’s uncertainty avoidance is either high or low. High un certainty avoidance means a country is less likely to take risk and rules and regulations. Low uncertainty avoidance means the country is willing to take risk. The country’s with a low uncertainty risk need to make sure that their finances are in top shape so they are more likely to have accountants audit their firms (Hill, 2011). Works Cited Hill, C. W. (2011). International Business. New York: McGraw-Hill Irwin.

Chaos and Order

â€Å"I will not let you fall. I will hold you up high as I stand on a ball. With a book on one hand! And a cup on my hat! But that is not all I can do† â€Å"Look at me! Look at me now! With a cup and a cake on the top of my hat! I can hold up the fish and a little toy ship! And some milk on a dish, and look! I can hop up and down on the ball! But that is not all!†¦ † â€Å"†¦. It is fun to have fun but you have to know ho. I can hold up the cup and the milk and the cake! I can hold up these books, and the fish on a rake! I can hold the toy ship and a little toy man! And look, with my tail I can hold a red fan!I can fan with the fan as I hop on the ball!†¦. † â€Å"That is what the cat said, then he fell on his head! He came down with a bump from up there on the ball. And Sally and I, we saw all the things fall. † â€Å"†¦We saw those two things bump their kits on the wall! Bump! Thump! Bump! Thump! Down the wall in the hall† â €Å"Thing two and thing one, they ran up they ran down. On the string of one kite, we saw mothers new gown with dots that are pink, white and red. Then we saw one kite bump on the head of her bed. † â€Å"I will not let you fall. I will hold you up high as I stand on a ball. With a book on one hand!And a cup on my hat! But that is not all I can do† â€Å"Look at me! Look at me now! With a cup and a cake on the top of my hat! I can hold up the fish and a little toy ship! And some milk on a dish, and look! I can hop up and down on the ball! But that is not all!†¦ † â€Å"†¦. It is fun to have fun but you have to know ho. I can hold up the cup and the milk and the cake! I can hold up these books, and the fish on a rake! I can hold the toy ship and a little toy man! And look, with my tail I can hold a red fan! I can fan with the fan as I hop on the ball!†¦. † â€Å"That is what the cat said, then he fell on his head!He came down with a bump fr om up there on the ball. And Sally and I, we saw all the things fall. † â€Å"†¦We saw those two things bump their kits on the wall! Bump! Thump! Bump! Thump! Down the wall in the hall† â€Å"Thing two and thing one, they ran up they ran down. On the string of one kite, we saw mothers new gown with dots that are pink, white and red. Then we saw one kite bump on the head of her bed. † I have chosen the book The Cat in the Hat. Simply because it’s a classic and I still enjoy reading it. I also chose this book because I see A LOT of chaos in the story followed by order.In the box above, you can see that I have quoted the things I noticed was chaotic. â€Å"†¦. He picked up the cake, and the rake, and the gown, and the milk, and the strings, and the books, and the dish, and the fan, and the cup, and the ship and the fish and he put them away†¦.. † â€Å"†¦. He picked up the cake, and the rake, and the gown, and the milk, and the str ings, and the books, and the dish, and the fan, and the cup, and the ship and the fish and he put them away†¦.. † In the box above, you can see that I have quoted what I thought would be order. I think Dr. Seuss does suggest the possibility of achieving a healthy balance between chaos and order. Because he showed that you can have responsible fun but at the same time, you have to clean up any mess made, solve any problems, and make sure things are in order when all the fun and games are done. * Along with entertainment, I believe that the story is to portray a lesson for kids. As Ive said before, you can have tons of fun, you just have to be responsible and clean up anything when done. * Dr. Seuss does use a rhyme scheme in this story.

Kidney Dialysis Essay

The kidney has two important functions for the body because it is connected to the body’s blood flow, it can help monitor blood pressure and secrete hormones, which can raise blood pressure in the event when it does not receive enough blood flow. However the most important job is filtration of blood. The kidney works to filter out toxins, especially chemicals that are formed as a result of cells using energy. The kidneys also work to maintain the balance of electrolytes within the body which can be lost during exercise. Cells need a good balance of electrolytes such as sodium and potassium within the body. If one kidney fails the other one is enough to maintain the body however if both fail to work it is a major issue and it causes problems as the kidney cannot filter the blood. How does a renal dialysis work: A dialysis machine tries to mimic some of the functions of a normal human kidney. One of the jobs of a kidney is to remove urea and some salts from the blood so they can leave the body in the urine. In a dialysis machine, blood from the patient runs through tubes made of a semi-porous membrane. Outside the tubes is a sterile solution made up of water, sugars and other components. Red and white blood cells and other important blood components are too large to fit through the pores in the membranes this acts like the glomerlus in the bowman’s capsule where ultra filtration takes place, but urea and salt pass through membranes into the sterile solution and are removed, this is what happens in a normal functioning kidney the small molecules can pass through the glomerlus but proteins and cells cannot as they are too large. What is haemodialysis: Kidney failure, whether it is permanent or temporary, is mostly treated using renal dialysis, which kind of replaces the kidneys filtration function. One form of renal dialysis is called hemodialysis. With hemodialysis, the patient’s blood is run through a machine with a special filter that helps clean out the waste products. Once the blood has been filtered, it is allowed to return to the body. One of the difficulties of hemodialysis is that it takes place at special medical centres and we are short of machines. This means that the patient has to visit three times per week that lasts between three to five hours per session, this takes up a lot of time. What is peritoneal dialysis: Peritoneal dialysis is the other main form of renal dialysis. With peritoneal dialysis, a sterile cleansing fluid called dialysis solution is injected into the abdominal cavity. The abdominal cavity is lined by a membrane called the peritoneum, which allows the waste products and extra electrolytes to pass through it and travel to the dialysis solution. The dialysis solution also contains a sugar called dextrose, which helps speed the process up. After the solution has sat in the abdominal cavity for four to six hours, it is drained out. This process is repeated four times per day. This type of treatment can take place at home because it makes use of a catheter, which allows the patient to connect a bag of dialysis fluid to a tube that feeds directly into the peritoneal cavity. This treatment allows a person to be a bit more flexible however the patient still needs to do this treatment a few times a day which means it takes up time of a normal persons life. The benefits and risks of a kidney transplant: A kidney transplant is much better than staying on a dialysis machine. A kidney transplant means you can live a normal life, you won’t have to go to the hospital a few times a week to get treated and this wastes time as it takes 2-3 hours on a dialysis machine 3-4 times a week this means that you cannot go away. Someone who’s on a dialysis machine has to give up a lot of time and this may get in the way as they may have to cancel many things during their normal daily life. A kidney transplant gives the body a whole new kidney and works perfectly where as a dialysis machine can only mimic a few of the roles of a kidney. The risks of a kidney transplant are that the body may reject the kidney as it is foreign so a very close tissue match is required. After a person has had a kidney transplant they have to be on drugs for the rest of their life so that the body does not reject the kidney. Kidney transplants can also cause infections or bleeding which can dangerous. Donor cards: A donor card is a card that shows that a person has agreed to give away some  of the organs after they die, and this can be used for transplants. However there are issues, some people believe that it is religiously wrong to give away your organs after you die and this causes a lot of problems. A family member may have given consent to give away their organs when they die but after they die their family members may object and not allow it and this causes a lot of problems. There is a long list for transplants and it is very hard to receive a transplant, donors help quicken this service. In England it is optional to become a donor or not. Another issue may be about race some people will not wish to have an organ from someone else from another race or the donor may not wish to give their organs to someone else from another race or religion and this is another problem that causes delays and means there’s a shortage of donors. Definitions: Ultra filtration: A high pressure filtration through a semipermeable membrane in which colloidal particles are retained while the small sized solutes and the solvent are forced to move across the membrane by hydrostatic pressure forces. Ultrafiltration is a vital process that takes place in the kidneys. With ultrafiltration, large molecules (such as cells and proteins) that are essential are separated or filtered out to be reabsorbed. The ultrafiltrate, in turn, is passed through the proximal tubule, the loop of Henle, the distal convoluted tubule, and a series of collecting ducts to form urine. Osmosis: Diffusion of a solvent (usually water molecules) through a semipermeable membrane from an area of low solute concentration to an area of high solute concentration. Selective reabsorption: The act or process of absorbing again, as the selective absorption by the kidneys of substances (glucose, proteins, sodium, etc.) already secreted into the renal tubules and their return to the circ ulating blood. Microvilli: Any of the minute hairlike structures projecting from the surface of certain types of epithelial cells, especially those of the small intestine. Co-transport proteins: Facilitated diffusion: Transport of substances across a biological membrane from an area of higher concentration to an area of lower concentration by means of a carrier molecule. Since the substances move along the direction of their concentration gradients, energy is not required. Active transport: A kind of transport wherein ions or molecules move against a concentration gradient, which means movement in the direction opposite that of diffusion – or – movement from an area of lower concentration to an area of higher concentration. Hence, this process will require expenditure of energy, and the assistance of a type of protein called a carrier protein. ADH: a peptide hormone released from the posterior pituitary lobe but synthesised in the hypothalamus. There are 2 forms, differing only in the amino acid at position 8: arginine vasopressin is widespread, while lysine vasopressin is found in pigs. Has antidiuretic and vasopressor actions. Used in the treatment of diabetes insipidus. Osmoregulation: The process of regulating water potential in order to keep fluid and electrolyte balance within a cell or organism relative to the surrounding. Counter-current multipliers: Resources used: http://www.livestrong.com/article/75374-renal-dialysis-work-those-kidney/ http://health.howstuffworks.com/medicine/tests-treatment/question17.htm

Interview Essay Example | Topics and Well Written Essays - 1000 words - 6

Interview - Essay Example They dated for a few months before getting married the following year. Miss B. and Bill were married for fifty-two years and had one son together. However, her husband later became sick and passed away due to colon cancer. Miss B. claimed that after Bill’s death, she became lonely, stressed, and confused. After his death, she decided to move back to Hartford to live closer to her son and family in Connecticut. Miss B. is now living alone in an apartment building in West Hartford. She claimed that the people in this apartment building have accepted her into their family; therefore, she does not feel lonely anymore and is absolutely pleased with the new relationships she has built in West Hartford. Miss B. and her husband had only one son, who lives in Hagganum, Connecticut, about thirty-one miles from West Hartford. Her son works at Bradley International Airport, and he and his family (his wife and son) visit her three times a week. They also talk on the phone every day, and she can call him anytime she wants. Miss B. is Jewish; therefore, they celebrate many Jewish traditions, including birthdays and religious holidays. Their celebrations often include organizing a dinner and inviting friends and family to their home. Miss B. was not able to complete high school. She attended a public school called Weaver High in Hartford, which was close to her home, but was forced to drop out during her sophomore year due to financial constraints. Subsequently, she complained that almost everyone in her family has either a bachelor or masters degree, with the exception of her. She said, â€Å"I always feel bad that I did not go college.† Miss B. said that when she was teenager, she had always wanted to be an office secretary, which is why she made an effort to get a good education. Later, she was employed by Aetna Insurance Company as an office clerk and worked her way up to becoming a secretary. She said it was a great

Dependant Pesonality Disorders Essay Example | Topics and Well Written Essays - 1000 words

Dependant Pesonality Disorders - Essay Example (DPD2006) DPD involves a pervasive and excessive need to be taken care of that leads to submissiveness, clinging, and fears of separation. Its primary diagnostic criteria include extreme difficulty making decisions without others' input, need for others to assume responsibility for most aspects of daily life, extreme difficulty disagreeing with others, inability to initiate projects due to lack of self-confidence, and going to excessive lengths to obtain the approval of others. An individual with DPD always seeks a relationship, in which he or she clings to this relationship in very dependent manner and goes to the utmost extent to keep both the ends meet. This disorder includes abnormally high levels of the neuroticism facets of anxiousness, self-consciousness, and vulnerability following dependent individuals desperately seeks another relationship as soon as one ends (i.e. dependent persons are high in extraversion). Excessively dependent behavior may be seen in persons who have developed debilitating mental and physical conditions, such as agoraphobia, schizophrenia, severe injuries, or dementia. However, a diagnosis of DPD requires the presence of the dependent traits since late childhood or adolescence. One can diagnose the presence of a personality disorder at any age during a person's lifetime, but if (for example) a DPD diagnosis is given to a person at the age of 75, this presumes that the dependent behavior was evident since the age of approximately 18 (i.e., predates the onset of a co morbid mental or physical disorder). Differences in personality due to differing cultural norms should not be confused with the presence of a personality disorder. Cultural groups differ greatly in the degree of importance attached to deferent behavior, politeness, and passivity. The diagnosis of DPD requires that the dependent behavior result in clinically significant functional impairment or distress. Etiology and Pathology Insecure interpersonal attachment is central to the etiology and pathology of DPD. Insecure attachment and helplessness may be generated through a parent-child relationship, perhaps by a clinging parent or a continued infantilization during a time in which individuation and separation normally occurs. However, the combination of an anxious and/or inhibited temperament with inconsistent or overprotective parenting may also generate or exacerbate dependent personality traits (Maddux, 2005, p. 219). Unable to generate feelings of security and confidence for themselves, dependent persons may rely on a parental figure or significant other for constant reassurance of their worth. Eventually, persons with DPD may come to believe that their self-worth is defined by their importance to another person. Five-Factor Model Reformulation DPD is characterized by maladaptively high levels of agreeableness and the neuroticism facets of anxiousness, self-consciousness, and vulnerability. Persons with DPD

War as Threat to Value of Life Essay Example | Topics and Well Written Essays - 1750 words

War as Threat to Value of Life - Essay Example There was a time when war had been the order of the day, and warriors used to be looked with great reverence and admiration. Somehow, the two Great Wars of 20th century have realized the people the fatal aftereffects of the bloodshed and aggression, where hundreds of thousands of people died and turned wounded and disabled, along with the reversal of financial and scientific achievements man had invented and devised after the hard efforts of many decades. Hence, wars brought ruination to progress, prosperity, unity and moral values, and crush all ethics and quality of human life under their chariot wheels. It is fact beyond suspicion that the history of war is as old as the history of human arrival on the very face of the earth. â€Å"Distinguished philosopher Immanuel Kant emphatically argues that the state of peace among the people living side by side and remaining in constant interaction with one another cannot be remained peaceful, as it is in the nature of man to contain differ ences with other fellow-beings. It is therefore it is war rather than peace which could be stated as the natural one.† (Porter, 2003: 310) One of the most imperative reasons behind the aggression and antagonism against others includes the innate avaricious nature of humans, which urges them to take the life of the rival out of the feelings of envy, jealousy, anger and fear. It is therefore the individuals and nations attack their opponents in order to deprive them of the privileges they have obtained. The Old Testament also narrates the tale of the Abel’s murder at the hands of his real brother Cain, who was killed because of God’s favor upon him in the form of the acceptance of Abel’s sacrifice. (Genesis 4: 1-17) Thus, the flow of first human blood on the earth paved the way towards the series of killings, assassinations, bloodshed and wars for the future generations to come. However, it was an individual enmity that resulted into fratricide; as the human s are still busy in killing their brethren for the last several centuries, yet their lust of dominating over other individuals has witnessed no satiety at all. History demonstrates the very reality that the wars are commenced, inflicted and fought in the sacred name of religion, justice, peace, solidarity, freedom and human rights, where war mongers destroy human societies, cultures and civilizations just to acquire pelf, power, prestige and possession. It is therefore the warfare inflicted upon humanity during ancient Greek, Hellenistic, Roman and Medieval eras just meant to subjugate the weak neighbors in order to snatch their wealth and resources by killing their men, enslaving their women and annexing their territories to their own countries. The European scramble for Asia and Africa during 17th century onward also reflected the brutality and butchery exercised by the big powers upon the weak and defenseless humans just to declare themselves as the world power. The recent war

The events industry Essay Example | Topics and Well Written Essays - 1500 words

The events industry - Essay Example For instance, in the current world, the amount for raising and sponsoring events is quite higher compared to the way it was several decades ago. As such, it is important to note that the event industry has been undergoing a dramatic change relevant to several issues touching on demands and interests of the organizers and the intended participants. For instance, in the past days, the costs for conducting such events involving local sports were relatively low (Smith, 2009, 53). This involved people coming, watching games and moving back to their residences. However, currently the costs of such local events have increased tremendously. The local events nowadays employ the use of public address systems as well as media involvements. These contribute towards raising the costs of such events. Events may always originate from different sources involving festivals, public events as well as cultures and traditions (Fenich, 2012, 36). However, it is important to note that events differ in their characteristics. Some events are labor intensive whereas others are perishable. Fixed time scales, uniqueness as well as personal interactions always characterize events. However, it is important to acknowledge the fact that the event industry has been critical in ensuring economic development and growth, societal development as well as conservation of cultures (Baum, 2009, 51). There are several categories and typologies of events. Events can be categorized into six main categories. These include the individual events, group events, organizational as well as multi-organizational events. In addition, other categories may include national events as well as international events. Several typologies of events exist relevant to the different categories. Individual events may comprise of weddings, birthday parties as well as private dinners (Goldblatt, 2011, 53). Group events may involve festivals as well as local

UPenn Wharton Business School Essay Example | Topics and Well Written Essays - 750 words

UPenn Wharton Business School - Essay Example Most of the venture capitalist firms do not pick up people, meaning most of the graduates are either unemployed or searching, it depends on the on the approach one gives life. Personally, I want to be a venture capitalist in the Philadelphia region. Ask not what your country can do for you but what you can do for your country. On the other hand, I know that if a man begins in uncertainty, he will end in confusion, but if he is contented to begin in doubt, he shall end in uncertainty. An excellent manager is a person who is not worried about his own career but rather the careers of those who work for him. Career objectives: In order to use my networks for making deals and increasing my portfolio, I would like to go back to school and get an MBA degree that can be useful in my future profession. To be involved in seed investing and funding, I would like to create a venture capitalist firm to attract newer companies that have limited operating history and cannot raise capital in the pub lic markets. Thereby I can get significant control over the firm's decisions and business ownership. To create jobs: Job creation is another career objective that I have entertained for a long time. As a venture capitalist, I will be able to create jobs in the knowledge economy and within the region of Philadelphia. Becoming a venture capitalist will help me establish institutions that can systematically design networks for new companies in conjunction with the public sectors. A2. Challenging Interpersonal Relationship and Lesson Learnt from the Experience After finishing school, I realized there was no job opening; I had to look for a job in various companies. I had to juggle two jobs: during the day, I worked at a local agency as Strategic Planning Consultant (June 2011 – Sept 2011); at night, I worked at a casino to make ends meet. I could not afford my rent and pay my school fee, and then I realized that I could take on three jobs paid on an hourly basis. I stated entertaining thoughts of owning my own office, business, my own conveniences, as well as my own money. I genu inely wanted to control and be always on the loop. I wanted to determine the strategic fits that I could use to make money, but I feared committing crimes. Then I stated being smart going back to school, reading and helping people leverage their capabilities to gain strategic advantage in business proposals. People started coming to me for advice. Then I stopped working at Toan Phu Architect & Construction Co. after realizing that I could easily introduce newer methods of project financing through debt securities and stock issuance, and could easily communicate facts and establish high technology training programs to cut down construction time and overhead costs thereby maximizing profits. I wanted to have my own firm. Some of the strengths that I realized I had never exploited include the following features: I am smart and I have a head for mathematics. The experience of working in two venture capitalist firms was the eye opener. I realized that the venture capitalist is my calling . I would like to make money as a venture capitalist from the management fees (as a portion of the funds under management) and carry (portion of return on investment). Owning a venture capitalist firm is much easy as the utilities are easy to manage considering that the management fees is adequate for running the business; this may also be one of the reasons why the established venture capitalist firms do not employ people. To them, an employee is a cost centre, which they would have to pay from their earnings. Having worked in a venture capitalist firm, I realized that I

Macro assignment Example | Topics and Well Written Essays - 750 words

Macro - Assignment Example Obviously with the major machinery meant for production of the new brand of soft drink Straw-berry getting totally damaged beyond repair, means that the production unit of this factory meant to be operational in the UAE has been crippled beyond repair. In other words, no manufacturing of the anticipated new straw-berry brand cannot be manufactured. Thus, our soft drink manufacturing company, Liquids Limited will have no brand of soft-drink to introduce to the UAE market in four months time as previously projected (Neyapti 31). Besides, the manufacturing plant has been imported using a lot of money that must have taken away a sizeable chunk off the company’s profits. With this in mind; the potion of liquids Limited given the circumstance is one of increased liability and weakness instead of strength. This state of weakness will increase the general capital out-lay, if another machine is to be bought to replace the one damaged on transit. The question which arises is where will that money come from? Who will carry the cost? How will it affect the cost of production? The company’s competitors, Drinks limited already seem to have an upper hand in being the first to introduce their brand of soft drink into UAE market. This is unprecedented, and could easily turn the tables of Liquids Limited in favor of Drinks Limited as it gives them the opportunity to capture a strong market segment, and work towards building brand loyalty. After having a brain-storming session with the head of production, and as the head of marketing, we effectively decided to discontinue with the proposed launch of the straw berry soft drink in UAE. This is because the imported manufacturing plant has been damaged beyond repair. This means that the liabilities of Liquids Company have increased. Launching a new product in a new market is an

Sample Research Paper Essay Example for Free

Sample Research Paper Essay The world is moving on. Everything has changed and will still continue to change. One of the major contributors of these changes is the unending discovery of new advances such as tools and information technologies worldwide, from conventional Information System (IS) to computer-based IS, even become web-based IS. These advancements have been widely absorbed to improve efficiency of the organization’s operation and effectiveness in providing service to its employees and customers for them to survive in the realm of business world. Organizations such as universities have increasingly adopted advanced technologies to automate their information systems. It includes tools that are used to create, retrieve, store, change and transmit information. Online services have been offered by universities to provide information and applications for various stakeholders such as students, parents, benefactors and school personnel in timely manner and with greater ease (Lee Kim, 2010). The Southern Leyte State University- San Juan spent considerable resources and efforts in applying computer-based information system in some transactions in school. The university has a computer-based system for accounting, enrolment and grading. Students, parents and benefactors ask for grades, schedule, statement of 2 account and other relevant information. Though the computerization automates the abovementioned processes but some of the students claimed that sometimes the releasing of requested information took hours or even days for some operations like retrieval of data since it is still done semi-automatically or manually. Aside from that, the university also collects a processing fee for grade inquiry. Truly, indeed, there is a call for improving student’s information system such as in students academic performance monitoring and billing system to satisfy the information needs of the clients. One of the responsibilities of the university is to inform the parents and/or sponsors about the academic performance of the students and it is usually done by sending grades through the post office. The problem is some of the parents and/or sponsors will not be able to receive the grades in timely manner or will never reach their hands. For any reason and maybe to facilitate decision making purposes, some of the parents and/or sponsors will personally visit the University Registrar to follow up the student’s performance. Undeniably, it is a burden to the parents to do such. That is why it is necessary for the university to find ways to aid the personnel in the Registrar’s Office in handling the student’s permanent record and to deliver accurate data pertinent to some clients. The academic performance of the university scholars has been also monitored by the school. The scholar’s grade is evaluated manually by the Guidance Counselor every semester if it still meets the qualification standards. Also, reports are to be generated for recognized private sponsors and for institutional purposes. During evaluation, the Guidance Counselor will require the scholars to submit their grades and so the students will also collect their grades from their instructors or at the registrar’s office. The thought of accessing data directly from the centralized database will speed up the evaluation process. The plus factor for university’s financial growth is how committed the sponsor an d the parents pay the fees of the students. But in the present situation, paying bills on time can never be realized for the university fails to issue statement of account to the students every after payment is made. As a result, parents or sponsors are not updated of their dues and no assurance that the students pay the fees religiously. Though the students are required to pay before midterm and final, the parents or sponsors have no idea how much are they going to pay for each term. As part of the university, it is the earnest desire of the researcher to contribute something to address the problems encountered by the clients of the university with regard to academic performance monitoring and generating of an updated statement of account. Since the problem concerns the delivery of information such as updated report of grades and billing statements to the parents and/or sponsor of the students in the university, the researcher found it helpful to have a Web-based Student Information System. The availability of Internet Service Providers such as Smart and Globe Broadband in Southern Leyte will make the designed system more accessible to the clients especially those students who are from other towns which constitute 66 percent of the total population at SLSU-San Juan. Aside from that, it will give the university personnel-in-charge in Grading, Scholarship, and Billing the capability to organize and present student information that suit the specific needs of the clients. Theoretical Background This study is based on the theory of Shelly et al (2005) which states that webbased systems are popular because they offer ease of access, cost effectiveness and worldwide connectivity, all of which are vital to companies that must compete in a global economy. Both personal and organizational processes influence a culture of innovation. In a culture of innovation, people will have a habit of constantly looking for ways to improve things (Denning, 2004). Continuous search for innovative ways has been made to cater the need of the people to access and share information resources worldwide. As what Newell and Turner (2006) said, Innovation means change: sometimes radical change and sometimes incremental change. This incremental change refers to the movement of change from traditional IS to computer-based IS and even now to the recent trend which is the web-based IS that runs through an internet technology. The explosive growth of the Internet is making available radical new means of communication that affect such diverse areas as business, entertainment and education. Network technology supports distributed systems and until today, the most popular system that is currently being used to make such systems possible is the World Wide Web and they even claim that this web technology is â€Å"fundamentally a new medium of human communications† (cited in Carstensen Vogelsang, 2001). True enough that in areas of education, Internet offers a medium that has the potential to be more responsive to students, to encourage greater participation in their own learning, and to give greater access to different sources of information than what traditional methods can offer (Brooks, 1997). The anchor theory is also supported by Young (1999) who argue that the Internet is the most cost-efficient medium for business-to-consumer dealings (cited in Voiculescu, 2005). Beller and Or (2003) also added that the decreasing costs of internet services, coupled with availability and convenience are likely to accelerate adoption of internet-based technologies. According to Shelly et al. (2005), Internet is a worldwide network that integrates many thousands of other networks, which in turn link millions of government, business, educational and personal users around the globe. Levine (2003) also added that internet technologies can reduce the time burden and provide easy-to-use and helpful information to the end user. These features of internet technology are vital to any organization for them to be globally competitive. Chae and Poole (cited in Brown Cooke, 2005) discussed that requirements and accountability have become more stringent and require better reporting for higher education. Additionally, mechanisms for evaluation and reporting have a growing role in university management. Traditionally, information sharing among university members has relied on a range of printed materials. Computer technology created opportunities on university campuses for sharing data and information among the staff and the students, and has been deployed since the late fifties (cited in Semiawan and Middleton, 1999). These information systems range from library systems, registration systems and financial systems, to campus-housing systems and other university service systems. Student Information System incurs such application software designed for educational establishments to manage student data. It is an application that keeps track of student records such as name, address, teacher, classes, grades and other pertinent information. Once the information is inputted into the database, it will provide the ability to quickly get information related to a particular student and print out their vital records (Freewareseek, 2009). As cited in Ngoma (2009), Barrett also encapsulates the essence of a student management information system (SMIS). He defines SMIS as â€Å"an integrated software package that maintains, supports, and provides inquiry, analysis, and communication tools that organize student accountability data into information to support the educational process†. From this so called student information system (SIS), the idea of developing a student information system specifically in academic performance monitoring and generating of statement of account for SLSU- San Juan was conceived. Student Information System development moved from mainframes to a network or workstation environment and the tools has also been changed from the traditional IS platforms to tools with support such as Gopher, World Wide Web and multimedia systems. Because of these developments, methods and procedures by which users obtain information are changing rapidly. Daily, hundreds of thousands of individuals use the Internet and Web browsers to obtain a much broader range of information than has previously been possible. According to Kitchens (cited in Brown Cooke, 2005), web-based student information systems have been widely adopted by institution to facilitate a range of operations such as grading, attendance, demographic data and reporting. Advantages of such a system is that information is accessible anywhere by using a standard internet browser; instructional management such as tracking student performance and monitoring progress can be handled through the online tool; teachers can define each assessment used in their courses and; the system makes individual student data available. A centralized web based system also enables educators to collect, analyze and communicate student information through desktop computers, however good databases also require data integrity so the information is consistent and valid. Many schools have online systems for managing classes, requesting financial aid, and performing other routine tasks. In these institutions, people can access school grades online once they enter the dashboard area where they manage other schoolrelated tasks, and the dashboard is accessed with a username and password. These types of systems can be very useful for parents who may want to keep a close watch on the progress of their children, and for students who want to keep an eye on their grades. The advantage of viewing school grades online is that it is usually possible to do so as soon as grades are received and posted. By viewing grades immediately, people dont have to wait for weeks while report cards are generated and mailed, which can relieve stress and tension. There may also be other reasons for wanting to see grades online, like wanting to check midterm grades to monitor progress in a class, or needing to know grades for the purpose of reporting them to colleges as quickly as possible. (Smith, 2008). Academic performance refers to how students deal with their studies and how they cope with or accomplish different tasks given to them by their teachers. The indicator of how well the students perform in the class is the student grades. Grade availability and immediate distribution through the use of SIS, which is called by Knievel (2001) as â€Å"full disclosure†, is of importance to concerned party mostly to the students and parents. Liao et al. (2007) asserts that SIS process within such technological sophistication does create precise knowledge edge, that such SIS application can be appealing to students and to the academic faculty as well as the parents. Student data acquired is usually used for effective decision making purposes. It is also an enduring belief in the academy that knowing one’s grade will change student’s negative behaviors or sustain positive ones (Knievel, 2001). Specifically, web-based student information systems have helped improve student records management, and school improvement plans. According to The Journal (2000), â€Å"Administrators no longer need to run from classroom to classroom or search from file to file to get the information they need, as the system (PowerSchool) provides instant access to all student records with a simple point and click†. SchoolWorks (2009) student information systems enable complete tracking and management of student data. The complete student information system includes student activities, daily attendance, period or classroom attendance, discipline, health and immunizations, grades, schedules, and more! SchoolWorks student information system manages your student data with a browser-based user interface. This allows platform independent student data entry. SchoolWorks student information system includes standard reports and allows custom report creation. The data structure is easily customized to match your state board of educations requirements for electronic submission of student data. At Westside Community Schools in Nebraska, Bird (2006) argues that there were significant improvements as a direct result of the adoption of the new SIS. â€Å"Since the implementation of the SIS, attendance at Westside is better than ever, discipline reports are down, and, instead of declining test scores that are common in schools with similar demographics, test scores are consistently above the national average and among the highest in the state of Nebraska. School administrators attribute this in good part to the SIS†. Bernhardt (2005) analyzed student demographic and perceptual data of elementary, middle, and high schools of Canyon View School District (an 8,000 student district) and concluded that fact-driven decision making can provide each district, each school, each class and each student with a reliable way to facilitate breakthrough performance and continuous education improvement. Her findings revealed that effective use of school data leads to more objective education-enhancement decisions. In North Carolina, a vast number of school teachers, administrators, leaders, parents, and students are using NCWISE to access and manage student data. NCWISE is described as a web-based, integrated, and secure tool for effectively managing student information and improving instruction in North Carolina schools. It was designed to provide teachers, principals, counselors, nurses, central office staff, and others with direct and immediate access to a full spectrum of data on a students entire career in the North Carolina school system. (Ngoma, 2009) As cited in Ngoma (2009), North Carolina Department of Public Instruction (NCPDI) report lists some of the features of NCWISE which include â€Å"the ability to move student transcripts immediately when a student transfers from one school to another; produce progress reports and report cards; share student grades and emergency information with appropriate school employees; and more quickly and accurately report student grades, attendance, and information used to support public school business processes†. The reason given for the adoption of NCWISE is that SIMS, which was the official public schools data collection source for more than 20 years and relied on antiquated technology. Let it be noted that NCWISE replaced SIMS. De La Salle University (DLSU), Manila created a My.LaSalle (MLS) university portal to extend efficient services to its clientele. Students can enroll online, thus, no more lining up at the Registrars Office. They can enroll anywhere within their scheduled period, in their preferred course and section, provided it is still open. Students can always view the actual enrollment count per course and section. Students can also inquire through the portal, information about course schedule, account balance, grades for the term, schedules of final exams and course card distribution. However, transactions could be denied due to unsettled accountabilities such as payables in the accounting or registrar’s offices, or library dues. These records will be reflected in a student’s personal account and they are updated as frequently as needed. On the other hand, faculty members can submit final grades and request for change of grade online even in the comforts of their own homes. (DLSU, 2010) University of the East, Ramon Magsaysay Memorial Medical Center, Inc., Manila developed a UERM portal for their students and employees. The portal contains Faculty Portal and Student Portal. Faculty Portal is an exclusive gateway for UERM faculty members for online information, faculty evaluation, faculty load, uploading lectures, quizzes and other materials for dissemination to their classes. It also provides access to profound discussions among faculty about lesson and other topics for the creation of knowledge. The Student Portal is for online student information, lectures, discussions, resources and other services exclusive to UERM students. It aims to enhance and extend the students learning experience through information technology beyond the bound of the classroom. (UERMMMC, 2010) The University of Baguio (UB) E-Reservation System is an extended feature of the UB enrollment System wherein transactions are done via the internet. The student is allowed to reserve schedules and be evaluated by the college dean. Grades are available for viewing online using UB-Online Information Service. Final grades for a given term may be viewed in a Final Grade Report or in an Unofficial Academic Transcript (UB, 2010). All business transactions revolve around one thing- payments. Many ecommerce websites integrate all the possible payment gateway modes for customers choice so that payments never get delayed. Through technologies the organization business operations have become easier and fast. Billing is the process of sending bills for payment (Macmillan English Dictionary, 2010). The term E-billing is the electronic delivery of financial documents to the customer, that represents and replaces the conventional paper based document (Email connection, 2001). Universities adopt this so called on-line billing for its perceived advantages than traditional billing system. Southerns eBill offers both students and parents a number of advantages over traditional paper bills, including: students can authorize others (parents, spouse, etc.) to view and pay bills; easy to read online history of past statements and payments; ability to schedule future payments; ease of use and convenience (Southern Connecticut State University, 2009). The Students Accounts Office at Macalester College implemented a new billing process. This change in process has taken place for several reasons. One reason and advantage of the change in process is that students and authorized users may view information relating to billing accounts, statements, and account activity at their convenience. The change in process correlates directly with the leadership role Macalester College has taken in sustainability for higher education. This change also will not only save paper by not having to print statements but will also reduce the need for other paper products such as two forms of envelopes. For students monthly billing, the student and authorized users will receive email notification announcing that the newest electronic eBill statement is ready to view. All students and authorized users must go online to view the statements. If a paper statement is required, the student or authorized user must print it at their convenience (Macalester College, 2009) In San Diego State University, they used a billing system wherein student billing statements are sent out on a monthly basis when money is due to the University. Student statements will be delivered in electronic format. Students are sent an email directing them to a secure website to review their bill, so it is important that their email address be kept up to date in their Portal account. Another feature is that the student may set up a parent PIN so that in addition to the student receiving the email, the parent may also receive an email (San Diego State University, 2009). Another motivation for online technologies as emphasized by Kemelgor, Johnson and Srinivasan (2000) is that â€Å"to attract good students, educational institutions must continue to innovate.† Technology is a tool recognized by many institutions that can be utilized to improve levels of service while aiming to personalize and extend the relationship with students (as cited in Savarese, 2004). Therefore effective student systems need to be student oriented and designed so administrative requirements don’t negatively impact on the student. It is in the light of these theories and related literature that inspired the researcher to develop web-based student information system specifically on student performance monitoring and generating statement of account in Southern Leyte State University-San Juan to keep pace with the above-mentioned innovations and of course to be able to cater the information needs of the stakeholders. 14 THE PROBLEM Statement of the Problem This study aimed to analyze, design and develop a prototype Web-Based Student Information System for Southern Leyte State University- San Juan, Southern Leyte. Specifically, it sought to: 1. analyze the services provided by the university as they relate to 1.1 1.2 student academic performance monitoring and; generating statement of account; 2. determine the status of the present student information system in terms of 2.1 2.2 2.3 2.4 relevance; accessibility; reliability and; timeliness; 3. identify the problems encountered by the students, parents, benefactors and personnel-in-charge in the present student information system; 4. determine the features of a good Student Information System; and 5. design and develop a prototype of a Web-Based Student Information System. Significance of the Study The results of the study would benefit the following entities: Commission on Higher Education (CHED). This study will help CHED, as a governing body to all education institutions, to encourage colleges and universities to implement research and development for the purpose of delivering quality service to each of its clients. SLSU. This study would enable the university to improve their student information system. It will give them the opportunity to give quality service to their clients. Students. The developed system would benefit the students for they can inquire their information needs with regard to their academic performance and billing statements at their convenient time and place. Parents. The output of this study would allow the parents to monitor the academic status and billing account of their child by accessing the records through the internet. Benefactors. The student information such as grades and statement of account that is extracted from the system would facilitate the sponsors for their decision making purposes. Also, they would be guided constantly with their bills. Student Affairs Office. The output of this study would significantly give ease to the Guidance Counselor in performing his tasks especially in monitoring, record keeping and generating reports. Registrar’s Office. Through the system, the work of the personnel in the Registrar’s office in disseminating grades to the students will be lessened for the records are now available online. Accounting Office. The staff in Accounting Office will not be disrupted with students who constantly inquire their statement of account. This study would give an opportunity for the researcher to gain more knowledge in programming and enhance his/her skill in designing and solving analytical problems. Aside from that he/she will gain confidence from her experiences in the making of this research. Future Researchers. The future researchers would greatly benefit from this study for the findings of this study would encourage them to design an improved system. Other HEI’s. The output of this provides insights to other higher education on how to disseminate information to their clients in a better way. This study may also assist them in achieving successful outcomes in similar projects. RESEARCH METHODOLOGY The study will utilize the descriptive research method using a researcherconstructed questionnaire to gather data from various stakeholders such as students, parents, benefactors and some personnel in charge in Scholarship, Registrar, and Accounting at SLSU- San Juan. The questionnaire simply asked the respondents to examine the current information system in the university and suggest some good features of a good student information system. The data that will be collected from identified respondents will be presented, analyzed and interpreted. The results and findings of the research study will serve as the basis for the design and development of the Web-based Information System for SLSU- San Juan.

Debate on Auditor Independence

Debate on Auditor Independence Abstract Recently of corporate collapse in the US, Australia, and elsewhere, regulatory attention has been drawn to the published of auditor provided non-audit services (NAS) and audit client relationship. This assignment aims to debate on auditor independence by providing evidence regarding the relationship between non audit services and provide consulting services at a lower cost for their audit clients. In tracking the development and identify the key stages and the changes that took place in approaches to external auditing. The two listed companies selected for arguments are Enron Corporation versus Chartered Semiconductor Manufacturing Ltd. Enron Corporation (former NYSE ticker symbol ENE) was an American energy company based in Huston, Texas. It was one of the worlds leading electricity, nature gas, paper and communications companies.1 Chartered Semiconductor Manufacturing Ltd (Chartered) is one of the worlds top dedicated semiconductor foundries in Singapore. It provides comprehensive wafer fabrication services and technologies to semiconductor supplier and system companies. They are taken a reference for the arguments that influenced by the changes which have reported and analyses the effect. Research on non audit service provision impairs auditor independence, differential incentives drive auditor behavior. Introduction Auditor independence is a cornerstone of the auditing profession, a crucial element in the statutory corporate reporting process and a key prerequisite for the adding of value to an audited financial statement (Mautz and Sharaf, 1961). However, recent account scandals, involving corporations such as Enron in the US, HIH Insurance in Australia have cast doubt over the independence of auditors and overall value of auditing. These legislative interventions however have occurred despite limited and mixed empirical evidence of these proposed threats to auditor independence. Furthermore, some basic questions underlying this debate remain unresolved. For example, à ¢Ã¢â€š ¬Ã…“ What factors influence a companys decision to purchase NAS from its incumbent auditor?2 The provision of NAS reduces investors judgments of auditor independence, audit quality and the attractiveness of the firm investment but not their auditor knowledge or financial statement reliability judgment. This assignment have consider two areas of literature which relating the theories and model of auditor independence. It also relevance on NAS found in current professional, regulatory frameworks, reviewed and summarized original theoretical and empirical studies but have excluded commentaries and opinion. The Big Five audit firms (Ernst Young, Arthur Anderson, Deloitte Touche, PricewaterhouseCoppers and KPMG) charger higher audit fees for initial engagement. It has prediction that where audit fees are disclosed publicly. The audit firms lower their audit fees to accept new clients when they also provide more lucrative non audit services. It is no actual loss of audit independence despite the loss of perceived independence of the Big 5 firms. The provision of NAS by audit firms for their audit clients are popular in the current market and continuous debate over auditor independence. NAS may include consulting service such as systems design, compliance-related service, taxation, book-keeping or other services relating to the accounting records or financial statement of the audit client; financial information systems design and implementation; actuarial service; internal audit outsourcing service; management functions or human resources; dealer and investment advisor The emerged from the Enron collapse has been the extent to which audit firms are providing NAS to their audit clients. The fees generated by NAS have been rising more rapidly than audit fees. This has led to widespread beliefs that provision of NAS can cause the auditors to compromise their independence. There are two main concerns which auditors may not stand up to management because they wish to retain the additional income from NAS which is in managements gift. Second provision of service to management may lead the auditor to indentify too closely with management and lose skepticism. The remainder of the paper is organized as follows: à ¯Ã†â€™Ã‹Å" Contains the background and literature review à ¯Ã†â€™Ã‹Å" Develops the hypotheses and research questions, à ¯Ã†â€™Ã‹Å" Contains the conclusions. Background and Literature Review Auditor must maintain independence in mental attitude in all matter relating to the assignment which stated by Generally Accepted Auditing Standards (GAAS). Independence auditors furnish critical assurance that the financial statement have been examined by à ¢Ã¢â€š ¬Ã…“an objective, impartial and skilled professionalà ¢Ã¢â€š ¬? (SEC 2000,p.2). It look as a risk continue rather than an absolute and judgment about the seriousness of the threat to independence are balance against the effectiveness of the safeguards available. Independence maintained through external constraints (e.g, legislation and regulation) or through the profession itself which maintain the independence to preserve its market value (Kinney 1999). It appears uncertain of auditor ability to accept client pressure and emphasizing the effect of the economic interest. Its calls that consulting services as à ¢Ã¢â€š ¬Ã…“the tail that wags the dogà ¢Ã¢â€š ¬? in the accounting industry (Investment New Article, Nov 20, 2000). The SEC announce the new rule that the auditor independence required to disclosure the audit fee in their proxy statement, the total fees billed for services rendered by the principal accountant (the external audit firm) disaggregated into three categories as audit services, information technology services and all other services. It reveals that nearly all firm purchase non audit services from their audit firm to their audit client. Although the big 5 auditing firm continue to maintain their independence is not impaired by these services , recently problems at Enron, WorldCom and other public firm brought accounting and auditing concerns to the attention of Congress and the public. Newly passed legislation prohibits NAS, including financial information services and internal auditing services (Sarbanes-Oxley Act 2002). Non audit services (NAS) are defined as all services provided by an auditor that are not considered as an audit. The Sarbanes Oxley Act (SOX) reduce the number of non audit services that an auditor are required pre-approval by the audit committee of such extended engagement (Rouse, 2005). Most banned services related to consulting or advisory services that might create conflict of interests for independent auditors (Banham, 2003). The banned non audit services include: 1. Book-keeping or other services related to the accounting records or financial statements of the audit client. The auditor is considered not independent when he provides book-keeping services for audit client. It involves with an inherent conflict of interest, and auditor should examine accounting records or financial statements prepared appropriate. 2. Internal audit outsourcing services à ¢Ã¢â€š ¬Ã¢â‚¬Å" under generally accepted auditing standards, the auditor is required to evaluate the effectiveness of internal control system over financial reporting, to create another example of conflict of interest. For example, Arthur Anderson provided the internal control function for Enron, before it was banned by 2000 SEC rule, and was blamed for not improving Enrons ineffective control system. 3. Expert services unrelated to audit à ¢Ã¢â€š ¬Ã¢â‚¬Å" providing an expert opinion or other expert service for audit client to advocating an audit client interests in litigation, regulatory, administrative proceeding and investigation. 4. Design and implementation of accounting information systems à ¢Ã¢â€š ¬Ã¢â‚¬Å" its creating inherent conflict of interest as an auditor is required to evaluate the effectiveness of accounting system in designed or implemented. Installing a computerized accounting system for client was immensely popular consulting services in many big accounting firms. 5. Management functions acting temporarily or permanently, as director, officer, employee of an audit client in performing any decision making, supervisory or ongoing monitoring function for audit client. These services can provide by the incumbent audit firm or external audit firm. This research on auditor independence under these conditions identifies the following issues. The provision NAS likely lead to a lack of actual independence and therefore lead to audit failure. Hypotheses and Research One of the major public concerns which emerged from the Enron collapse has been the extent to which audit firms are providing non audit services (NAS) to their audit clients. In 1997, Enron engaged Arthur Andersen as its External Auditor. Subsequently, Enron appointed Arthur Anderson as consultant also. Enron paid Andersen $52 million in 2000 in both auditing and consulting services including development of computerized financial system for conducting Enrons internal audit, but majority for consulting services. There have been many criticize about the potential conflict of interest faced by audit firms who received large consultancy fees from their audit client (e.g. Financial time 2001a). Its expressed about how auditor with a statutory responsibility to company shareholders can handle a commercial relationship with the companys management and remain impartial (e.g. financial Times, 2001b). Andersen leaders responded by pushing partners to become salesman, its to upsetting the delicate balancing act any auditor must perform between a client and looking out for the public investor. Peoples have forgotten their significant responsibility not only to clients but also to investor, creditors and the public, etc. These issues by attacking the à ¢Ã¢â€š ¬Ã…“specific symptoms of the audit breakdown that occurred in the Enron Caseà ¢Ã¢â€š ¬? (Gavious, 2007,pg458), Arthur Anderson whose Enron client found to have encouraged clients to use accounting techniques to mislead and deceive the market (Gavious,2007). Enron select to use a method of fair value accounting that misleading, overstated profits in the current period. These accounting techniques were employed by Enron on the advice of Arthur Anderson and it was the employment of these techniques that ultimately led to the organisations collapse (Benston, 2006) . Due to IT and other frauds which investors lost confidence in market (Crasewell, 1999). Its beliefs that provision of NAS cause the auditors to compromise their independence. Andersen has been severely criticised for significant economic and its independence has been questioned form two point of view à ¢Ã¢â€š ¬Ã¢â‚¬Å" significant economic dependence on Enron due to the party designing accounting and tax structures, and therefore it could not express an objective view on Enrons results. The two main concerns are auditor may not stand up to management because they wish to retain the additional income from NAS which is in management gift, and second the provision of a range of services to management may lead the auditor to identify too closely with management and lose skepticism. Thus, auditor independence is fundamental to public confidence in the audit process and reliability of auditor report. However, the problem facing the auditing profession is not a lack of actual independence and objectivity rather it is the lack of confidence in financial statements. Public confidence in a companys financial statements will only be achieved by companies remaining completely separate to their audit firms (Ronen and Cherny,2002). Thereby increasing the auditors perceived independence. While Chartered engagement of KPMG as its external auditor to perform non audit services which management must consider the actual, perceived and potential impact upon the independence of external audit prior to engaging external audit to undertake any non audit services. Chartered have established the Audit Committee of the Supervisory Board (Audit Committee.) to oversight of Companys financial position. Its responsible to supervising the operation of the internal risk management and control system, codes of conduct, compliance with recommendation and observation of internal and external auditor. In contrast, audit committee of Chartered have to consider whether the provision of such non audit services is compatible with maintaining the external auditors independence, by obtaining assurance and confirmation that the additional services provided by external auditor are not in conflict with the audit process. The audit committee has authority in independent audit are to be-approved with information sufficient to enable Audit Committee to know as follows: the precisely what services it is being asked to pre-approved, know that any non audit service to be performed is a permissible non audit service made a well-reasoned assessment of the impact of the proposed service on the auditor independence. The external auditors are prohibited from providing specified non audit service contemporaneously with providing audit services to Chartered Semiconductor Manufacturing, including:- bookkeeping or services related to accounting records or financial statements financial information system design and implementation internal audit outsourcing services legal services an expert service unrelated to the audit Audit committee has clarified and added further prohibited activities for the external auditor. By focus of the importance of Audit Committee in control and supervise the activities of the external auditors. This section, Audit Committee is the plans to strengthen the independence accountants are truly independence thus and will give greater credibility to audits. In this research, Enron should have formed an audit committee to oversight the company and prevent any fraud which collapse to bankruptcy which compare with Chartered, although the audit firm provide non audit services, but they have a stronger and capability audit committee to oversight the company financial position. Conclusion In the debate on auditor independence, the first matter that is usually raised is the provision of non audit services to audit client. To be able to perform their task of providing independence and objective assurance to shareholders, auditor must act independently. It is argued that by providing non-audit services to the audit client, the auditors independence and objectivity is impaired. In term of codes of ethics all over the world, it is not only necessary for auditors to be independence, but there is also a need for auditors to be seen to be independent, and even a perception of a conflict can compromise his or her position. It behooves the auditor therefore never to get into such a situation. If one examines the research, there is little empirical evidence that proves that the provision of non audit services actually impairs independence, but one must concede that it is difficult to prove. Recent corporate failures have brought this issue very much under the spotlight again. As a profession, we should not underestimate the public feeling and the strong view held by governments on this issue. The rule of fundamentally change the way auditing profession does its business as following: Fundamental shift in regulating accounting industry à ¢Ã¢â€š ¬Ã¢â‚¬Å" from the primarily self-regulated environment to public regulation approach. A new set of independence rules and regulations affects the accounting profession directly in performing audit engagement. A new independent public oversight board now has the direct authority to police audit process, auditing standards, and disciplinary measure on auditors, including registering public accounting firms that issue audit report for publicly(trade companies), establishing auditing, quality control, ethics, independence, and other standards relating to the preparation of audit reports conducting inspections of registered public accounting firms conducting investigations and disciplinary proceeding and imposing appropriate sanctions on audit firms and auditors. An independent oversight board (IOB) set up by Andersen in the US , after the Enron problems emerged but before the firm collapsed, recommended that some consulting services provided by the firm should be separated into partnerships managed independently form audit partners and without financial independence to audit clients. Recommendation was strengthen of internal quality control over auditing thought out the firm. Beside this its create an independent regulatory oversight agency for accounting industry. Now no truly independent agency with the authority, power or will to enforce penalties against illegal. While the Public Oversight Board was a nominally independent private body that set standards for the industrys self-regulatory schemes, it was never truly independent. The finding comes from the America Institute of Certified Public Accountants. Thus, in summary I conclude that since such evidence as there is indicates that there is no correlation between levels of non-audit fee and audit failure, comprehensive safeguards are already applied, and rigorous separation of non-audit services seems likely to increase the cost and reduce the quality of the audit, the suggestion should not be pursued. Assuming no undue overall economic dependence results from the auditor/client relationship and adequate safeguards can be implemented, we believe that companies themselves should determine whether they use auditors for non audit services, in consultation with the professions guidelines. References 1. Enron profile Available at : http://en.wikipedia.org/wiki/Enron 2. Ashbaugh, H.,R.LaFond,and B.Mayhew.2003. Do non-auidt services compromise auditor independence? Further evidence. The Accounting Review 78: 611-639.

The Active Role of the Media in Influencing Our Opinion on Global Polit

Introduction The globalization of media has broken down the communication barriers between countries and is now more readily available and accessible than ever before. This paper examines how the media plays an active role in influencing our opinion on global politics in regards to the Arab Spring and the new revolution making its way through the Middle East and North Africa. It will also examine the theories of the CNN effect and the Manufacturing consent and how these define the relationship between governments and the news media. The United States involvement with the Hollywood industry raises concerns about this relationship and emphasizes the importance to recognize the role of the media in global politics. Media today has made significant leaps in terms of advancements in technology since the beginning of the 20th century. Globalization has led to the breaking down of communication barriers between nation states and now news media can be accessed all over the world; giving exposure to events of war, economic, political and humanitarian strife. This in turn will lead to greater awareness of humanitarian crisis in places such as the Middle East. It has only been in the past two decades that ‘new’ media took the world of media even further. The term ‘new’ means to facilitate information sharing, one of the components of effective resistance; those in countries such as Syria, Afghanistan and Iraq use social networking sites such as Facebook and Twitter to show the rest of the world what the news media is unable to. This type of media was the beginning of an information revolution and the changing of the nature of conflict by strengthening network forms of organiza tion over hierarchical forms. Activists in Tunisia who were ag... ...n Foreign Policy.† Eurpoean Journal of Communication16, no4 (2001):523-544, http://ics-www.leeds.ac.uk/papers/pmt/exhibits/1848/robinson2.pdf (accessed April 16 2012) Entman, Robert. â€Å"Symposium Framing U.S. Coverage of International News: Contrasts in Narratives of the KAL and Iran Air Incidents.† Journal of Communication 41,no4 (1991): 6, http://onlinelibrary.wiley.com.ezproxy.auckland.ac.nz/doi/10.1111/j.1460-2466.1991.tb02328.x/abstract;jsessionid=1ED043007C2287AA69B7A3A2DD869C27.d01t02 (accessed April 16 2012) Robinson, The CNN Effect, 304 Ibid,. 304 Lacey, Anita. â€Å"How do we find out what is going on in the world?† Lecture, POLITICS 106, The University of Auckland, March 26, 2012. Castonguay, James. â€Å"Conglomeration, New Media, and the Cultural Production of the â€Å"war on Terror.† Cinema Journal 43, no4 (2004):102-108, Ibd,. 102+ Ibd,. 102+

The Dental Profession Essay example -- dentistry

The Dental Profession    As a senior biomedical engineering student at RPI, I am   receiving a particularly well-rounded education in engineering,   complemented by studies in the sciences and humanities.   During   my sophomore year, I became interested in dentistry and began to   select courses that would prepare me for dental school.   While   this meant additional work, I improved my study skills, and I   have earned a grade point average of 3.4 over the last three   years.   Because of this rigorous course load, I will be   graduating this August instead of last May.   I had planned on   applying to dental school this fall for the 1988-89 entering   class, but after receiving your letter earlier this month and   subsequently speaking with the admissions office, I found that   it was still possible to apply for the September 2002 entering   class.      My interest in the health care field began while I was in high   school.   I was first introduced to many different aspects of the &...

Bill Gates :: Biography Technology Computers Essays

Bill Gates Bill Gates is the Antichrist Ever since Microsoft was founded, Bill Gates has gained power over the people of the world by winning a monopoly in the computer-software industry. From the assistance Microsoft gave in the development of the personal computer, to the virtual monopoly that Windows 95 now has on most computers all over the world; Microsoft has controlled a major portion of the computer industry. In his repeated conquests over his competitors, Gates has left an increasingly obvious amount of evidence that proves that he is the fourth and final antichrist. Most of this evidence comes from Gates' computer products and is referred to in Revelations. This evidence may have been left on purpose, or was a careless mistake by the founder of Microsoft. Like the other men who have been considered antichrists, Gates has attempted to rule the world. The only difference between Gates and his predecessors is that he is trying to rule the world through computers, not through military for ce. ASCII(American Standard Code for Information Interchange) code is a system of keeping track of letters, numbers and characters on a computer. When Bill Gates and IBM decided to use ASCII code in the IBM Personal Computer, many people didn't know what computers were, or care what ASCII code was. Many people who did know what ASCII code was didn't think that Bill Gates was evil. Today, now that more people use computers regularly, Bill Gates' evil secrets have been revealed to the public through the Internet and anti-Microsoft activists. "Here is wisdom. Let him who has understanding calculate the number of the beast, for it is the number of a man : His number is 666." (Revelation 13:18) Bill Gates' full name is William Henry Gates III. If the ASCII codes of the letters in "BILLGATES" are added, plus three for the "III" in his name, then the sum is 666 (antichrist.txt). B I L L G A T E S 3 66 73 76 76 71 65 84 69 83 3 = 666 "Let him who has understanding calculate the number of th e beast" refers to computer programmers and others who have knowledge in computers. Gates most likely did not expect for the people in his industry to divulge his secret identity to the public, but an increasing number of computer users have found and advertised the truth about him.

Edible Oil Industry in Pakistan

Zohair Abbasi Education and Achievements 2008-PresentUniversity College London BSc. Mathematics with Economics. 2000-2008Karachi Grammar School A-Levels: Mathematics (A), Physics (A), Chemistry (A), Biology (A), General AS (A) O-Levels: 9 As including Mathematics, Additional Mathematics and Physics. †¢ One of the few people to receive the Breton Medal for excellence in Mathematics. †¢ Served as a Prefect in my final year at college †¢ Served as the Deputy Head-boy of the school in year 9. Work Experience Oct, 2008-PresentASICS corporation London, UK Retail Assistant, Part-time †¢ Worked intensively, for up to 20 hours a week, alongside a team of enthusiastic individuals to help the store generate revenue of almost ? 2 million (24% above the target) in its first year of operation. †¢ Developed excellent front-line customer service by taking initiative to be proactive to the customer's needs. Oct, 2007-Sept, 2008The DAWN NewsGroup Karachi, Pakistan Editorial Assistant, Full-time †¢ Interviewed Ms Zarine Aziz, CEO of First Women's Bank Pakistan, and Mr Byram Avari, a hotelier and chairman of the Avari Group. Acquired excellent interpersonal skills while doing so. †¢ Gained immense knowledge of world affairs and politics while doing research and assignments for the Herald magazine. Only at the age of 19, had reports and articles published in the country's most widely-read magazine. June, 2009-Aug, 2009Aga Khan University Hospital Karachi, Pakistan Voluntary work †¢ Acquired crucial teamwork skills while working together with a team of nurses and resident doctors towards providing the best possible service to patients. †¢ Completed 8 weeks of community service at the city's biggest hospital. Extra-curricular Activities Mar, 2009-Present President of the UCLU Pakistan Society. Headed a committee of 5 individuals. Organised public events that attracted up to 300 participants. Organised a large-scale dinner with the Pakistani High Commissioner as the chief guest. Mar, 2009Single-handedly organised, and performed (guitars and vocals) at, a music concert that featured 10 artists and was attended by almost 150 people. Aug 2006-June 2007Council member of the Eastern Music Society. Helped organise, and performed at a concert that was attended by more than 300 people. Aug, 2006-June, 2007Vice captain of the school swimming team. Co-managed a team of 25 swimmers at the provincial-level championship. Won a total of 1 Gold, 2 Silver and 2 Bronze medals at the 2007 Sindh Open National Championship. Languages: Fluent in both English and Urdu Other Skills: Intermediate skills in MS Office suite. ———————– Shah. [email  protected] ac. uk (+44)07528714035 5-Belfont Walk, Holloway, London N7 0SN

Self-Image and Consumer Behavior

Article Review: Self-Image and Consumer Behavior: How Sacrosanct Self-Beliefs Sway Preferences in the Marketplace Written by: David Dunning In this article, David Dunning questions whether or not beliefs, wants, and needs are the keys to decision making in a consumer’s mind. He believes in a decision making technique called belief harmonization. With this, Dunning means that in order to reach a decision , it may require arranging and revising one’s beliefs, needs, and preferences into a network of cognition that produces little tension among its elements. He states that this allows for two major influences on decision making.The first influence is if people hold a bias to favor one decision over another, then that will alter how they perceive the product. They will solely make a decision on that bias and keep to it. In our book, it explains this with brand equity. The outcome shows that a consumer will decide based on the belief that this brand is better than all of the others and not think twice to purchase. The second influence involves the beliefs that the consumer want to maintain, called sacrosanct beliefs. This is one claiming that the self is a moral, lovable, and capable individual.Dunning states that many decisions in the consumer world are based on this belief of self-image, even when the decision at hand has no relevance to the self. We buy to highlight or hide aspects of our self. Evidence for Decision Making as Belief Harmonization There is much evidence that suggest that judgment and decision making, including consumer behavior decision making, is known to be belief harmonization. Dunning stated that through the 1940s and 1960s, people depended on the consistency theory, balance theory, and the cognitive dissonance theory.However, it has been known that belief and other connections are applied as well. This would be referred to as connectionist modeling or parallel-constraint satisfaction. He gives a certain example of a young woman buying a car and the positive and negative factors based on buying this car. There can be some direct and indirect contradictions in the harmonization process. What people do is revise what they believe in and make connections with the decision. It may lead towards the negative factors or the positive factors in this decision.Dunning states that the best decisions should be based on the beliefs that the person possesses and will be the best indicator for it. Beliefs are equally able to influence and be influenced by other beliefs. The Influence of Decision Outcomes on Perceptions of â€Å"Input† Variables Emerging evidence demonstrates just how easily the causality in decision making can run in reverse. A preliminary opinion leaning toward one conclusion tends to alter how people evaluate evidence in decision making. This also is a part of product choice as well.The Influence of Logically Irrelevant â€Å"Outside Beliefs† Any belief can bias people to initially favor o ne over another. These beliefs are called â€Å"outside† beliefs and tend to be irrelevant when it comes to the decision making process. Dunning talks about how a juror decides on whether or not someone should be sued for posting negative comments on the internet. They looked at both positive and negative sides of the defendant and never based their decision on if the defendant was a nice guy or not. Work in the consumer world has also found similar bias due to outside beliefs.Evidence for Sacrosanct Beliefs about the Self People commonly approach every decision with the belief that their decision takes precedence and that they are honorable individuals. They want their decisions to be positive so that their self-image is positive. In class, we learned about impression management, which means that we work to â€Å"manage† what others think of us. This is a factor in our self-image. Evidence for Positive Self-Beliefs Researchers have showed that people have upbeat self- images, even to an unrealistic degree.Our psychological process that might help leave people with flattering views is a constant engagement in belief harmonization anchored on a self-belief. Research on self-evaluation also shows what type of moves or decisions people make for a positive self-image. This goes in hand with the ideal self portrayal and our concept of what we would like to be. With consumers, they easily adapt to certain products to help us reach our ideal self and have a positive outcome in our beliefs. Evidence for Belief Harmonization with Positive Self-BeliefsBeliefs about the social world are harmonized with flattering self-views. The judgment of people will affirm the positive impression of self. Culture is a big factor in the consumer world, and that is where the beliefs and self-image become intertwined together. In our book, it talks about how in some cultures, women are supposed to foster harmonious relationships and men are supposed to be assertive and have certain skills. These beliefs make the positive self-image in the culture that the male and female are in. Definitions of Social Traits and JudgmentThere are many social traits out in the consumer world today. The article talks about how people tend to emphasize specific attributes and talents that they have and de-emphasize those they do not. These beliefs guide people’s judgments. They align their attribution for success and failure to affirm about the self and the image it portrays. Dunning states that at times a behavior is clearly an underlying trait. People tend to adopt performance standards that place their own competence and character in a good light. Evidence for Belief Harmonization in ChoiceRecent developments in the consumer psychology literature provide strong hints that self-image motives may influence decision making in the marketplace. Here are some points that play an important role by self-image in decision making. * Self-Signaling: this is the notion that people reach their decisions with an eye toward bolstering their self-images is similar to another idea emerging from work in decision making and choice. This is to signal the type of person they are. This explains behavior that remains curious and has been an explanation for people’s behavior.Shafir and Tversky conducted this behavior in the Newcomb problem, where it showed that a participant in the experiment picked an economically inferior option to another option. * Endowment Effects: People place more value on an object once they own in. Handing a coffee mug to a college student causes them to more than double what the mug is really worth. Once products are associated with people, it confirms the positive impressions of that person and becomes valuable for them to have. * Compensation Effects: People buy to compensate for perceived deficits. For example, men buy toupees to make up for hair loss.People buy products to cover their shortcomings for others not to see. * Affi rmation Effects: People express ideas that they are invulnerable to risk. Having self-esteem may prompt people to make choices with less concern. * Licensing Effects: Once people have gained solid evidence that they possess some sacrosanct trait, they act in a way that could potentially violate that they have that trait. This arises in consumer choice many times. Future Questions Dunning focuses on one specific sacrosanct belief, which is that the self is a lovable and capable person.He feels as though there could be other beliefs that exist as well. People possess personal self-esteem but also can possess collective self-esteem. This very much indeed influences people’s decisions and behavior in the marketplace. Also, beliefs that people seek might involve specific ones or rather a more overall general one about the self as a whole. Willer studies on masculinity suggested that people bolster specific self-values. Also, many suggest that people are not as concerned with speci fic self-views as they are worried over a general sense of self-worth. Automatic versus Deliberative Nature of Self-Image MotivesAnother issue would be whether the impact of self-based sacrosanct beliefs is deliberative or automatic in nature. Dunning believes that the impact of self-beliefs might be more automatic in nature. He argues that the term automatic can be the case that the process of affirming favorable self-beliefs is beyond people’s control. Also that is may be the case that this process occurs below people’s awareness; they may lack any insight that their choices are influenced by concerns over the self. However, people’s preferences can impose its influence below a person’s awareness.The Moderating Role of Self-Esteem For sacrosanct beliefs about the self to influence consumer psychology, people must presumably have those sacrosanct beliefs, and people with low self-esteem may not have positive views to maintain. In the consumer realm, one could ask whether low self-esteem people will work as energetically as their high self-esteem peers harmonize consumer decisions with positive views of self. The Moderating Role of Culture/Implications of Marketing As I discussed in this paper earlier, culture is another condition with how consumers make decisions.People in North America and Western Europe work to bolster their self-esteem. In the West, people seem more concerned with individuality and in the East; they focus on the collective self. Self-Image concerns may also carry implications for effective marketing according to Dunning. People tend to state that they are motivated to do good work in their job for reasons like personal growth, whereas other people are more motivated by money. That is how it works with decisions in consumer buying. People are influenced by social status.This article suggests that marketers should be mindful of the motivations that people are likely to cite as prime considerations for their purcha ses. In conclusion, the article is about how consumer behavior is acted and what it is based upon. There are many different factors that the author speaks about in this article. Self-Esteem and Culture are two main pieces of the puzzle when it comes to how consumers react to certain products. In the marketing world, we marketers have to look at these factors and how much insight it will provide us when we are trying to get into the minds of our consumers.Dunning makes very interesting arguments of how we cannot look at the picture as a whole, but yet as different segments of ourselves that all tie together with the decision making process. I thought this was a very interesting article because it shows how experiments and studies were done to prove that these are main factors with consumer behavior. It also showed me how we basically become the product and shine through the product for our own self-image. It could be even with becoming part of a group that reflects your personality, or just for your individual traits themselves.

Poverty and Progress: Are we suffering from delusion of poverty?

It is indeed that most Filipino today suffers from delusion of poverty which is a false belief of a person that he or she is impoverished or will be deprived of material possessions or a person’s mindset the he strongly believes that he is financially incapacitated. Many people will use the excuse of this is the way I was born or this is my environment and I cannot change it. Through these statements it shows that most of the time it is because of your own mindset the reason you are where you are today. We have all heard, you are where you are today because of what you did yesterday.If you didn’t change or plan ahead yesterday, then you can expect today to be different until you change. A poverty mindset can manifest itself in a lack of vision for the future. You end up stuck in a financial rut, perhaps working a job that barely meets the financial needs of your household. When you lack vision, it’s hard for you to believe that God would give you an idea to take your household to prosperity. And if God does give you a big idea, you either will not follow-up on it, or you will find a way to sabotage it. Your poverty mindset keeps you stuck where you are.If a person feels less than others then he will not feel deserving. If he does not feel deserving, his life is based on desperation and wanting, rather than from joy and abundance. If one feels abundant, he will have abundance. If one feels desperate and wanting, he will expand the poverty in his life. Wealth or poverty is something that resides within. Poverty is a state of mind and about perspective not always about money. It is a fear of never having enough. To break that state of mind we have to make different choices and unblock the shackles that have been placed on our minds by our parents and the society around us.Our beliefs about how the world works is passed down from generation to generation. If your parents have a poverty mindset, it’s highly likely that you grew up with th ese same beliefs. People may say that they want to be wealthy, however a mindset that is set for poverty cannot handle a sudden increase in wealth. Because of the delusion of poverty mindset, you never set up a written budget to plan the use of your finances. You never set financial goals for what you want your money to accomplish. You just let it flow through your fingers and out of your pocket and the end result is being broke.That’s the type of mentality that keeps people in poverty. Often, thinking that we’re â€Å"poor† while others are â€Å"rich† is a result of comparing ourselves with other people. The first step is to stop comparing ourselves with others. You don’t need lots of money to be rich. Poor people put a high priority in having cash on hand. They do pocket accounting. What cash they have in their pocket is often how they manage their money. They do not like checking accounts because it requires financial management. Delusion of po verty has nothing to do with money, it has everything to do with the willingness to communicate and face a problem.Growing up in that environment absolutely shapes one’s mind about money and life. People who heard from their parents that â€Å"we can’t afford this and can’t afford that†, as if there was no other way to get money other than welfare. There was no budgeting to help make the money last the full 2 weeks. They get their check and blow it on junk food, alcohol, drugs etc. Then act like victims for the rest of the days while waiting for the next check or the next binge. Change your environment and you change your financial future. Where did you learn your financial habits? Other adults: primarily your parents.We spend the way they spend. We value what they value. We carry their views on most things. So if your parents spent foolishly, their actions taught you to spend foolishly. If your parents spent wisely, you would gravitate towards wisdom in finances. If your parents were really wise they would have explained why they spend the way they do and how to by-pass financial failures through proper money management. People who grew up hearing a language of poverty that sounds like this: â€Å"we can’t afford it†, â€Å"we don’t have the money†, â€Å"that’s for the rich people not for us†. All of those statements are victimized, poverty statements.Change your language, and you change your financial future. Even the rich people suffer from delusion of poverty according to the Philippine Daily Inquirer (2007, January), â€Å"As the economy dips precariously, people who still have a lot of means are freaking out†. According to Dr. Kotbi from his interview in New York Times (2009,Jauary) he had a wealthy woman patient, worried about whether she would have enough money to buy groceries, refused to eat. Another patient, a real estate investor grew so paralyzed by financial fear that h e asked his wife, who had hardly paid a bill in her life to take over the family finances.Dr. Kotbi said they often suffer â€Å"delusions of poverty† which is in the Diagnostic and Statistical Manual of Mental Disorders, associated with psychotic depression and despite retaining millions of money in assets, are crippled by self-doubt, loss of power, and sometimes guilt. These people have fear of being poor. I hate this delusion of poverty in our country where poverty is imbibed to all of us: ‘Hindi ako makakapagtapos ng pag-aaral kasi dukha lang kami’ or ‘Anong magagawa namin? Eh mahirap lang kami? ’ It’s always like that. I also hear that from my neighbors, saying everyday that they are just poor folks.I hate that in every election season, the candidates that we see on television hail themselves as messiahs or the bringer of solutions to poverty. Or perhaps, a knight in shining armor, ready to rescue a poverty-stricken maiden. We should acce pt the fact that the way we think affect our actions. Yes, somehow we are poor but we can be rich also. We need to be aware of a self-defeating thought process or activity in order to change our poverty mindset. Remember the sayings that what your mind can conceive your heart and body can achieve. It is the time to cut the chain that ties Filipino to the endless delusion of poverty.