How Do We Live On - 961 Words

How do we Live on? People live on through others. One of the most debatable questions in the world is, how do we live on? It is a simple answer. There is no concrete evidence that supports life after death or that sprits live on, but it is easily proven that people keep traditions, memories, and images of others. Our past is what shapes our perception therefore shapes our reality. It can be proven that people live on through others, by tradition, through memories, and through images. To confirm the conclusions made: Aristotle On the soul, Aristotle’s Allegory of the Cave, and Leonardo’s Mona Lisa will be referenced and discussed. The most basic human actions: talking, walking, smiling, and writing are traditions people have inherited from their ancestors. These traditions are still used to communicate today, though the minds they were originated in are long past. People’s ideas live on through others. When one explains themselves to another the other can begin to possess those same opinions, thoughts, or ideas. This is shown in â€Å"Allegory of The Cave† their reality is what they have been taught to them throughout their lives. They only know what the person in front of them has shared with them, because they are chained and down and cannot move. They are shocked when they are exposed to the â€Å"real† world because they had been so isolated from it. They experience a paradigm shift; the way they view the world is completely altered in every form. The real world is such a shockShow MoreRelatedJamestown Rediscovery Artifacts : How Do We Recapture The Lives Of People Who Left No Written Record?1623 Words   |  7 PagesJamestown Rediscovery Artifacts How do we recapture the lives of people who left no written record? If a pot is found in the middle of the woods, how do we determine how it got there? From what clues can we unlock the history behind that pot? 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The Events Leading To The Collapse Of Enron Accounting Essay Example For Students

The Events Leading To The Collapse Of Enron Accounting Essay Enron is an American Energy Company based in Downtown Houston, Texas which began in 1985 and prospered fast claiming grosss of about $ 101 billion in 2000, to electricity-generating workss and H2O companies, Enron added many concerns outside of the energy field, such as newspaper, broadband overseas telegram, and fiber optics. Its prestigiousness and stock monetary value soared. But by early 2001 Enron, though valued at $ 60 billion, began a prostration into bankruptcy. Its extension into unprofitable concerns and accounting patterns that disguised the true fiscal place of the company were among the grounds. It was revealed that it s reported fiscal status was sustained well by institutionalized, systematic, and creatively plannedA accounting fraud, known as the Enron dirt . The dirt besides affected the wider concern universe by doing the disintegration of theA Arthur AndersenA accounting house. The consequence is a immense corporate, fiscal, accounting, federal regulative and political dirt every bit good as a catastrophe for 1000s of Enron employees and investors. At least 10 Congressional commissions are now look intoing Enron and its accounting house, Arthur Andersen. While Enron may hold engaged in illegal concern activities for illustration, both Enron and Arthur Andersen have shredded many concern records. Reappraisal of Literature: Evidence of a thorough reappraisal of relevant literature ( a lower limit of 8 articles ) Question 1: I. Conduct your ain research on the events taking to the prostration of Enron and name the series of questionable concern trades by Enron, in peculiar, between Enron and Raptor, and between Enron and Condor. How those trades were accounted for in the fiscal statements? ( 12 Markss ) ( Around 750 words ) Organization is charged with the duty to map in an ethical manner. In the early 2000 s the largest or most good known concern failure occurred. Enron was exposed for their immoral patterns and non merely was the organisation held responsible, but the persons involved were besides. Once the 7th largest company in America, Enron was formed in 1985 when Inter North acquired Houston Natural Gas.Enron was an energy company that grew to be the jobber for energy companies that allowed them to interchange energy contracts. Their growing was really impressive and the concern expanded into other aspects including Internet services. Enron had created over 3000 particular purpose entities in between 1993 to 2001. Particular Purpose Entities ( SPEs ) are defined as entities formed for some specific intent or activity. The primary intent of making an SPE is to take assets and liabilities from the balance sheet of the patron thereby unnaturally bettering purchase, return on plus and return on equity ratios. These SPEs were besides established to maintain Enron s recognition evaluation high, which was really of import in their Fieldss of concern. Because the executives believed Enron s long-run stock values would stay high, they looked for ways to utilize the company s stock to fudge its investings in these other entities. As Enron grew, they needed to borrow more and more money. To maintain the debt off of Enron s books, they began to make spin out organisations that were used to conceal over $ 600 million in losingss that were genuinely created by Enron. By concealing their debt, Enron looked like a really successful company. Until October 22nd, 2001 when the Securities and Exchange Commission ( SEC ) announced they Enron was under probe. The first ground for the prostration of the company was that the company was leveraged through debt. The second was the autumn of the stock monetary value. This caused issues with their debts and resulted in recognition downgrades. The 3rd phase was the increased cost of borrowing due to the recognition down classs that caused liquidness issues for Enron. Throughout 2001, there were several cases that would hold drawn ruddy flags to the approaching death. Fortune Magazine ran several articles that questioned the company s debt procedure and methods of bring forthing income. In August 2001, Jeff Skilling placed his surrender from CEO. Then, in October 2001, Enron came out with losingss over $ 600 million. Ironically, that is the same sum that was being sheltered under Chewco Investments. After registering for chapter 11 bankruptcies in December 2001, the U.S. Justice section began a condemnable probe. The originative accounting patterns provided by Arthur Anderson ( AA ) can besides be included in the autumn of Enron. As their hearer, AA was an extension of the Enron organisation. In October 2001, AA destroyed about all of Enron s books. Arthur Anderson had helped Enron to organize the spin out organisations and conceal their losingss. All of these behaviours between Enron and Arthur Anderson were grounds for the autumn of Enron. Enron was exposed for their immoral patterns and non merely was the organisation held responsible, but the persons involved were excessively. There are specific organisational behaviour theories that could hold predicted Enron s failure such as the debt that was hidden under other concerns or the alterations in upper direction with no clear ground being provided. In add-on to the organisational behaviour the leading, direction, and organisational constructions contributed to the public failure of one of the largest companies in the universe. Their accounting house, Arthur Anderson, was non guiltless in the dirt whatsoever. In the terminal, leaders and directors from both organisations paid the monetary value for the muss that they had created. Not merely were the organisations held responsible, but several persons reaped the reverberations as good. This state of affairs shows the huge impact that leaders and directors have on an organisation. They can command whether an organisation acts ethically or if the organisation becomes avaricious and does whatever necessary to be profitable and viewed positively in the public oculus. Enron involved in partnership concern trade with its assorted SPEs. The trades with CALPERS, ZEDI, RAPTER, CONDERS were those trades and the accounting intervention of those minutess, were responsible for inevitable death of the Enron Company. Outline1 Deals with Bird of preies2 Deals with Condor3 Accounting intervention of the Enron s trades with Raptor and Condor4 A5 A6 Mark-to-market accounting scheme:7 Capital stock dealing8 Gross acknowledgment9 Acknowledging additions in the value of Enron s common stocks10 Accounting revelation11 A12 ( 200 words ) Deals with Bird of preies Enron had created a partnership taking to purchase and sell stocks of other companies. Enron lent the partnership $ 500 million in Enron stock to run Raptor and besides guaranteed the burden by assuring to give more stock if Raptor was unable to refund the loan. Raptor issued a note to Enron that Enron considered assets. Raptor so bought stock in companies like Avici, a shaper of high-velocity net-working equipment, and the New Power Company. Enron treated the loan to Raptor as an assets and claimed net income on the lifting value of Raptor s retentions. The dealing worked until the stocks of the companies owned by Raptors fall down. Bird of preies could non pay the loan. Enron was obliged to cover the Raptor s loan as it guaranteed for that, it had to publish more and more portions although its ain stocks were worsening. Deals with Condor Condor is another SPEs. The executives of Enron created another partnership called condor to sale and purchase the assets in the best possible monetary value. Condor was established to purchase assets from Enron. Enron had lent the partnership portions to Condor of Enron s stock. Accounting intervention of the Enron s trades with Raptor and Condor Bird of preies were non controlled by an independent party which possessed the significant hazards and wagess of ownership, so these entities were portion of Enron and should hold consolidated into Enron s ain fiscal statement. But Enron recorded all the addition or losingss including all the hedge minutess of its SPEs entities and did non consolidate it into its fiscal statements. Enron executives structured the trades so that losingss would non demo up as net incomes, but alternatively as decreases of stockholder equity that had no consequence on the income and net incomes statements. Enron recognised $ 800 million in hard currency flow from condor. In fact Enron should alternatively hold been accounted for as an issue of stock, But Enron counted it as hard currency flow. Although some inside informations are still cloudy, one thing is clear: Arthur Andersen, Enron s outside comptroller, is in large problem, and it ( or its insurance companies ) will hold to fork over large vaulting horses. Andersen s large job stems from a company called JEDI as in Star Wars that Enron now says should hold been on its books since 1997. Andersen allowed JEDI to stay off the books for old ages. The other trade, affecting a company called Raptor, caused the net-worth disappearing that set Enron on the route to destroy. JEDI stands for Joint Energy Development Investments. It was a partnership between Enron and the California state-employees pension fund, known as Calpers. The Force was with Enron, which invested the money $ 250 million each from itself and Calpers in power workss, energy stocks and such, doing more than 20 per centum a twelvemonth. Pretty neat. In late 1997, Calpers was willing to put $ 500 million in a new partnership, JEDI 2. But it wanted to first hard currency in its JEDI 1 french friess, deserving $ 383 million. Alternatively of merely neutralizing JEDI, Enron got cunning. ( I m non certain why. Enron declined to notice. ) It went looking for an foreigner to fork over $ 383 million and take Calpers s topographic point. Enter something called Chewco Investments as in Chewbacca of Star Wars celebrity. Chewco was a partnership of Enron employees and some unrevealed foreigners. ( Who they are and how much they made is a enigma, because Chewco is a private entity. ) Chewco s investors did nt hold a trim $ 383 million. So Enron Lent Chewco $ 132 million and guaranteed a $ 240 million loan that Chewco took out elsewhere. Enron was therefore at hazard for its ain JEDI interest and basically all of Chewco s. That being the instance, it s a enigma why Andersen allow Enron maintain JEDI off its books. Accounting experts who have looked at this dealing, which Enron disclosed last month, merely agitate their caputs. Andersen has refused to notice, stating it s excessively early to make decisions. Enron has restated its net incomes dating back to 1997 because it says JEDI should hold been on its books since so. Think what? The restated net incomes are far lower than the original 1s. Now, to the trades that sank Enron. As in JEDI, Enron wo nt notice. These minutess involve four companies called Raptor. It looks like the Raptors were set up to allow Enron utilize fiscal gymnastic exercises to acquire additions from stocks it owned without really selling them. The major retentions were Rhythms Net Connections, a now belly-up start-up telecom company, and NewPower Holdings, which competes with established power companies for clients. At their tallness, Enron s interest in these companies totaled approximately $ 2 billion. Friday s value: about $ 40 million. Enron wo nt state why it did nt merely sell the stock and take its net incomes. The most logical account is revenue enhancement turning away. Now, the key to Enron s undoing. The company committed to set $ 1.2 billion of Enron stock into the Raptors to do them more responsible. It did nt assure a fixed figure of portions it promised $ 1.2 billion worth, irrespective of the portion monetary value. A earnestly dense move for a company that talks about fudging hazards. In return for that committedness, the Bird of preies gave Enron $ 1.2 billion of promissory notes. Enron put them on its balance sheet as an plus. When a company adds to its assets and nil else changes, its net worth rises. Hence, Enron marked up its cyberspace worth by $ 1.2 billion. But as the stock monetary values of Rhythms, NewPower and Enron all sank, Enron faced holding to fork over a catastrophic figure of new portions. So Enron paid $ 35 million to the Raptors outside investors yet another cryptic partnership and liquidated the Raptors. That eliminated the notes, which eliminated the aforesaid $ 1.2 billion from Enron s net worth. That set off the now celebrated October tally on Enron s recognition, which finally led to bankruptcy. Now, far excessively late, Enron says it should nt hold counted the notes as assets. Animal Cruelty leads to Human EssayConsequence of this fraud Effect ( reply for this is there portion value dropA from $ 90 to merely for 10cents and they got bank crupt ) andmany more consequence s Sherron S. Watkins was frailty president of Enron. It was her responsibility to look rapter and condor SPEs ( really partnerships ) work. happening frauds in these 2 dealingsA and no opportunity of flight, she worte letters to Ley but she was threanted to disregard and leters were kept hidden.A A A company may enter additions and losingss on minutess with the SPE ; nevertheless the assets and liabilities of the SPE are non included in the company s balance sheet. Enron executives structured the trades so that losingss would non demo up as earning s losingss, but alternatively as decreases of stockholder equity that had no consequence on the income and net incomes statements. There are several constructions used by Enron for its accounting patterns. One of them was to utilize SPEs to sell A?financial assetsA? ( a debt or equity owned by Enron ) at the terminal of a fiscal accounting period in order to better their fiscal ratios and standing. The secret contracts between Enron and the SPEs gave Enron the right to purchase portions of the SPEs. This ensured Enron control of the SPEs. Mark-to-market accounting scheme: Enron had implemented the Mark-to-market accounting scheme. It is the accounting scheme that, the monetary value or value of a security is recorded on a day-to-day footing to cipher net incomes and losingss. Enron counted the projected net incomes from long-run energy contracts as current income, but it non did non reflect the true economic value. All the income was estimated as the present value of net hereafter hard currency flows. Mark to market scheme counted the future income as current income that increased the fiscal net incomes nevertheless in future old ages ; the net incomes could non be included. To maintain the concern growing and the investor s Trust over the concern, company should include extra income from its new undertaking at any manner. So Enron did it through its SPEs. Capital stock dealing The dealing of issue of portion by company should non normally be recorded an increased to stock holders equity until hard currency payment for the portion is received. Enron issued portion to its SPEs in exchange for notes receivable. That accounting intervention merely overstated the notes receivable and portion holder s equity. Enron used its ain common stock to capitalize SPEs. Gross acknowledgment Enron recognised largely from long term contracts where the value of the contract was determined based on subjective grade to market ( MTM ) scheme. It did non calculate the just value of a fiscal instrument when there was no active market for it. Furthermore Enron recognised gross originating from an addition in the value of its ain portion utilizing the equity method of accounting. Acknowledging additions in the value of Enron s common stocks Enron had had partnership with its SPEs. Enron had given partnership portions to those SPEs. One of them ZEDI held 12 million portion of Enron stock, which was carried at just market value. Increased in the menu value of those portion monetary values, Enron recorded it as income utilizing equity method. But Enron did non recorded losingss while ZEDI portions declined. That means Enron was recognizing the increasing value of its ain portions as gross but losingss were non. Accounting revelation The accounting and the fiscal revelation that Enron had made was non equal. Particularly contracts that made with its SPEs, there was no systematic Procedure that could specify about dealing made with related parties. Enron entered into a series of affecting a 3rd party LJM in June 1999, but the e consequence of the dealing was non clearly disclosed to its investors, employees and other stakeholders. Question 3: three. The overruling basic rule of accounting is that if you explain the accounting intervention to a adult male in the street, would you act upon his puting determinations? Would he sell or purchase the stock based on a thorough apprehension of the facts? If so, you best present it right and/or alter the accounting. My concern is that the footers do nt adequately explicate the minutess What is the context of this remark by Watkins? Why footers do non adequately explicate minutess? ( 6 Markss ) ( Around 350 words ) Watking who is my hero once more points out one more thing FOOT NOTES really its non easy to understand all the dealing in the accounting for all the comptrollers as good so we ever use footers to explicate how the above dealing was carried out .. but ENRON footers did non explicate anything adequatley .. which is picked by Watkins and the chief ground pes notes was non explain right . beacuse of the sham . creative activity of all the dealing which did non had any value this is what we need to explicate while replying this inquiry . 3. On the electronic mail of Watkins to Lay, she commented that the footer made on the dealing was non equal and did non give proper information to its related parties. Particularly the dealing made with SPEs ( Raptor, ZEDI ) , it was non appropriate and transparent. The footers did non explicate decently about what dealing made with those SPEs, what the consequence behind the minutess and so many other accounting and funding footings. If those footings are decently explained so, investors would cognize that the entities that Enron keeping are thinly capitalised. Furthermore they would cognize all the value in the SPEs come from the underlying value of the derived functions and Enron stock. But the footers revelations of above minutess at amalgamate statements were obscure and hard to understand. The Enron fiscal statement revelation did non state everything about the dealing that was made with its SPEs. The substance of the minutess that Enron entered into was hard to separate from the footers to the fiscal statements, and since merely the signifier of the minutess was reflected on the face of the fiscal statements, it was hard for investors and creditors to obtain a clear position of the fiscal place and consequences of operations of Enron. Question 4: Watkin s memo refers to Arthur Anderson A ; Co ( AA ) at several topographic points. How was their function as hearers of the company? Critically explain. 5 Marks ( Around 300 words ) ( Arthur Anderson A ; his company was really the hearer of the ENRON .. and he used to acquire $ 50million in a twelvemonth .. to do all the fraud studies in right order .. What Arthur Anderson did that he sacked some of his good hearers purposly .. and so these hearers were hired by ENRON .. all harmonizing to Plan so outside media does non cognize anything .. all the hearers which were now in ENRON worked harmonizing to instructions of Arthur Anderson .. and that was it . ENRON neer had a job in fiscal statements as they all were in the same boat .. this is wat we need to explicate inthis inquiry ) A Arthur Anderson A ; Co ( AA ) was non merely the hearer of Enron ; it provided confer withing services every bit good. Arthur Anderson A ; Co was paid $ 52m including A ; 27m for confer withing and remainder for scrutinizing in 2000 by Enron. Arthur Andersen became so reliant on the combined service grosss of these clients that they discredited the cardinal rules of the accounting/auditing profession. The relationship between Enron and Andersen developed so much that Enron were able to exaggerate gross by close to $ 600 million over a figure of old ages, before its prostration in December 2001. Andersen did non carry through its professional duties in connexion with its audits of Enron s fiscal statements, or its duty to convey to the attending of Enron s Board ( or the Audit and Compliance Committee ) concerns about Enron s internal contracts over the related-party minutess . On June 15, 2002, Andersen was convicted ofA obstructor of justiceA for tear uping paperss related to its audit ofA Enron, ensuing in theA Enron scandal.A Nancy TempleA ( Andersen Legal Dept. ) andA David DuncanA ( Lead Partner for the Enron history ) were cited as the responsible directors in this dirt as they had given the order to tear up relevant paperss. Critics suggest that Enron s prostration was backed up because hearer Arthur Andersen was gaining every bit much from confer withing as from scrutinizing. They believe this factor created an inducement non to dispute the energy company s fiscal statements ( Drinkard, 2002 ) . Barefoot ( 2002 ) besides agrees that the hearer s independency was compromised. However, Barefoot ( 2002 ) besides argues that the Board of Directors set aside the company s ain moralss policy in order to allow the questionable fiscal minutess. She states that legal and conformity jobs about neer originate unless senior executives have tolerated, and even created a clime in which disobedience can happen. While critics believed that a struggle of involvement was a major lending factor to the catastrophe, . So while the populace are indicating the finger of incrimination at Arthur Andersen, the experts are connoting that Enron s senior executives should hold been pointed as harshly. Decision: ( 200 words ) There are rather a figure of lessons that can be learned from Enron to forestall these dirts from go oning. First, ethical civilizations must be well-fortified so that among employees, clients, providers and investors will hold higher grades of satisfaction and trueness. Ethical motives must be looked from both moral-rights and justness positions. In organisations, this construct that includes the right of employees to reject unethical actions must be practiced. This is to guarantee that employees are ever protected in rights of privateness, picks, wellness and safety. Besides that, we must handle people impartially and reasonably, harmonizing to legal regulations and criterions. Procedural justness must besides be applied so that policies and regulations of the organisation are reasonably administered. Next, the 2nd lesson learned from Enron s failure is rigorous regulations must be enforced and imposed on companies so everything can remain in order. Certain techniques to make so include making comprehensive policies around corporate administration, inventing systems to portion informations across conformity paperss to avoid duplicate of work, such as finance sheets, set uping clear lines of duty so that both employers and employees know what is their country of duties, and doing those procedures portion of a company s civilization. These wide guidelines can assist guarantee that dirts such as Enron s would non go on once more. Besides that, lessons that can be learned form Enron s failure is to be careful on doing the right or incorrect pick, as there is ever a first knowing trip. This first trip frequently involves a little evildoing, but none are more of import ; because this little via media or minimum evildoing will about ever lead to worse behavior. Once you step over the line, it is hard to travel back to the right class. In Enron, because a director made a bad determination, so he tries to cover it up. In fact, he should seek to work out that job critically, whether it is revenue enhancement frauds or corporate discourtesies, otherwise, after the first trip, it ever gets easier and easier to go on these misconduct. Finally, the lessons that can be learned form Enron s failure is learn to be satisfied with what you have lawfully earned, as greed is a barbarous frailty that can destruct you. If you judge success in life by what you can roll up, you will neer be to the full content, as person will ever hold more, your kids or others will ever desire more from you, and hence, you will neer hold plenty. It is in the human nature to be avaricious, but non until you have to take illegal actions to gain it. See this illustration, directors in Enron such as Jeffrey Skilling wanted to do more money and at the terminal, they received their penalties. Skilling was sentenced to 24 old ages in prison in October 23, 2006. In decision, we must make everything in all cost to forestall from these things to go on once more, so that there will be no unethical direction to be practiced once more.

The wasteland Essay Example For Students

The wasteland Essay In the poem, The Waste Land, T. S. Eliot gives a primarily positive connotation by using the theme of speech, language, and failure of speech. In each of the sections, Eliot shows how speech and communication are important in life. He also shows that speech cannot always accomplish what actions can. The way the characters in the poem use speech show that speech and communication are important. This section may be the best example of communication in the whole poem. While many of the other themes are present, the main part of this section deal with the interaction between two people, in two different places. Although at first these conversations seem to be very fruitless and unproductive, at the end it is revealed that what was trying to beaccomplished by the conversations happens anyway. We will write a custom essay on The wasteland specifically for you for only $16.38 $13.9/page Order now The first part of A Game of Chess tells of a man and a woman having dinner. A very elaborate description of the dinner scene, the woman, and the sights and smells that fill the room. After dinner to woman tries to engage the man in conversation but to no avail. As she continues to get more frustrated with and his unwillingness to answer her questions, it would seem Eliot is showing how speech and communication do not accomplish their intended goals. The woman keeps asking the man what he wants to do after dinner, but only his thoughts are revealed to thereader, he does not respond to the woman. Eventually after the womans tiring effort to get a response they still end up taking a carriage ride and playing a game of chess. So while the woman thought that she was getting no where with him, she actually achieved exactly what she wanted. In this sense a transformation occurs from the point in which the woman thought that she was getting no where to the point where she realized that he ha d been listening the whole time, and she still got to do what she wanted to do. The second part of this section tells of two women whos husbands are off to war. One is telling the other that she should try to make herself look good for her husband upon his return. She insists that she has no reason for looking good and that she does not want anymore kidsanyway. The woman eventually get fed up with her ignorance and says that her husband may leave her if she does not change for him. Here it seems that communication is also pointless because no matter how much the woman tries to change the others mind she stillrefuses to change. When the husbands do finally return though, they are still happy to see their wives and the section ends with good night, ladies which shows that the husbands were happy to see their wives no matter what they looked like. The same transformation occurs here aswell. In the beginning the conversation seems to be going nowhere but what was trying to get accomplished still does. This final section talks about the salvation of the Waste Land. T his dry arid place must have water to go on existing and to change from the state that it is in now. The thunder can be heard from beyond the mountain but it is not coming over into the valley to save the Waste Land. A story is told of a woman who plays a violin with a strand of her hair as a bow. This music brings singing from the empty cisterns and wells of the land, and eventually it is this womans song which brings the rains to the Waste Land. Although it is not speech, this is a form of communication, and it shows the importance of it. The song is the salvation of the Waste Land. When the rains finally come, the thunder speaks with the voice of the gods. It repeats over and over the word Da, which comes from the Upanishads. It can be translated in three different ways by the gods, man, or demons. This shows that while one thing is said it can beinterpreted in many ways depending upon the listener. No matter how it is interpreted though, the thunder and its voice

Paper Essays - Unemployment, Labour Economics, Social Justice

Paper Essays - Unemployment, Labour Economics, Social Justice Paper Discussion Board 1The recession of 2007-2009 has impacted many industries, but few have been hit as hard as the newspaper industry. From a loss of subscribers to a loss in advertising revenue, print newspapers are experiencing economic change unlike any other time in history. Last year, Denver?s Rocky Mountain News stopped publishing in February, the Seattle Post-Intelligencer ceased printing their publication and converted to an online-only format in March (and in the process, laid off 145 of their 165 employees), McClatchy Co., owner of the Miami Herald, announced in March it was cutting 1,600 jobs and reduce wages throughout the company, and even the venerable New York Times made a deal to sell its share of its headquarters and lease it back, raising a much needed $225 million in the process. These are just a few of the many examples of hard times in this industry. Why do you think the newspaper industry has been hit so hard? What sources do you use to get news? Why? Do you subscribe to a local paper, and if so, do you receive a print copy or receive it electronically? How have changes in the news industry affected unemployment? Discuss how changes in this industry have resulted in not only cyclical unemployment, but also frictional and structural unemployment.

Operation management Essay Example | Topics and Well Written Essays - 2250 words

Operation management - Essay Example This essay states that the task of operation management team is to convert the inputs into the output in the most beneficial way. They are the real causes for the net operating profit of the organizations. Operation management team has to take care of all the processes starting from the acquisition of resources to delivering the products or services to the end user. They have to come across the tactical and strategic level of the operations. The strategic level includes deciding the structure of service networks, determining the size and location of manufacturing plants and deciding the technology of the supply chain etc. The tactical level issues are project management, plant layout, selection of equipments etc. Now a day’s, operations management is employing more and more information technology to get the work done more accurately and more effectively. This is being done to improve the organization’s respond to the five objectives of operations: speed, flexibility, de pendability, quality and cost. These are the core objectives of the operation management. The think tanks of the organization are up to date about the information technologies that can be applied to the each and every process of the operation management. The field of technology and operations management is concerned with the design, management and improvement of the processes and operating systems. The global market experiences a rapid change of technology and the companies face big challenges to compete with the world class standards in production and delivery of products and services. ... ramatically due to the emergence of a truly global economy, significant advances in information and process technology, and the continued growth of services. The Technology and Operations Management Area (TOM) focuses on value creation on a global scale through innovative product and process design, project management as well as on value capture through effective supply chain management† (Technology and Operations Management 2011). The theory of constraints (TOC) is much successful application of information technology in operations management. The TOC starts with through-put driven business policy, seven step resource management methodology through the cost/utilization capital investment technology and ends with drum-buffer-rope production activity procedure. Total quality management (TQM), just in time (JIT) and the theory of constraints are well absorbed in the field of operations management. Some of the information systems used in production and operations management are gi ven below: Inventory system: Inventory system uses techniques like just in time, ABC, first in first out, last in last out, etc. Such information is then used for reorder purposes. Stub control (used by retailers) enables the manager to retain a portion of the price ticket when the item is sold. The manager can then use it to put record about the item that was sold. Production System: The manufacturing system often produces the standardized products in large volume. The plant and machinery will have a limited capacity. The system facilitates with fixed costs, variable costs, labor costs and material costs. While producing the products, the net value and the economic value are forecasted and added to the product. Service System: The service system is more complicated as the service is not

Accounting ratio analysis for Hysan Development Company Limited Essay

Accounting ratio analysis for Hysan Development Company Limited - Essay Example The company has three segments in operating as such in the industry. First, is has its Office segment, which is in charge of leasing of office space and related facilities to various customers from office users. Second, it has its Retail segment, which takes charge of the leasing of space and related facilities, this time to a wide range of retail of retail and leisure operators. Third, it has its Residential segment, which takes charge of the leasing of luxury residential properties and related facilities. The company has continued to expand over the years and as of December 31, 2012, its investment property portfolio has reached an approximate level of more than 4 million gross square feet of office, retail and residential space in Hong Kong. The Companys subsidiaries as of 2012 included HD Treasury Limited, Admmore investments Limited, Hysan China Holdings Limited, Hysan Corporate Services Limited, Hysan (MTN) Limited and Hysan Leasing Company, among others (Reuters, 2014a). Profits are created from the surplus of revenues over expenses. This would require a way to gauge revenues and expenses which are extracted from the financial statements of the companies under study. Various categories of expenses according to functions, get deducted from the revenues for purposes of computing profit or income. First is the direct cost or called cost of sales or revenues is deducted first from revenues to arrive at gross profit. From gross profit, operating income will be derived after deducting further selling and administrative expenses will be deducted to arrive at operating income. From the operating income, net income determination will follow after non-operating incomes or expenses are added/deducted accordingly from the operating income (Johnson, et al, 2003). After producing the various categories of income --- gross profit, operating income and net income, each result

Needs in Different Life Stages Essay Example for Free

Needs in Different Life Stages Essay NEEDS OF THE DIFFERENT LIFE STAGES! Human Needs Needs: lack of something that is required or desired Needs exist from birth to death Needs influence our behavior Needs have a priority status Maslow’s hierarchy of needs Maslow’s hierarchy of needs( levels of need) Meeting Needs Motivation to act when needs felt Sense of satisfaction when needs met Sense of frustration when needs not met Several needs can be felt at the same time Different needs can have different levels of intensity Altered PhysiologicalNeeds Health care workers need to be aware of how illness interferes with meeting physiological needs Surgery or laboratory testing Anxiety Medications Loss of vision or hearing Altered PhysiologicalNeeds (continued) Decreased sense of smell and taste Deterioration of muscles and joints Change in person’s behavior What the health care worker can do to assist the patient with altered needs Summary Be aware of own needs and patient’s needs More efficient and quality care can be provided when know needs and understand motivations Better understanding of our behavior and that of others Summary Recognise that we are all different. Help them to help themselves and become more independent. Everyone has a choice Treat individuals with respect and dignity. Protect vulnerable individuals Different professionals are involved in care formal and informal care provision Summary Our five life stages are the early years, school age, young people in transition (from school to adult life), adults of working age, and older people. For each life stage we have identified the outcomes that everyone would want for themselves at that stage in life.