Compare how language

Compare how language is used to explore ideas and feelings in ‘Checking out me History' and one other poem from the Anthology. By dordafaye Compare how language is used to explore ideas and feelings in ‘Checking out me History and one other poem from the Anthology. Checking out me History is a poem about a Caribbean man's frustration at the teaching of history- he believes that he is only taught about white historical figures and argues that some important black icons are neglected. He argues for more freedom to learn about icons from other cultures- reflecting multi-cultural society more accurately.Singh Song is a poem written from the perspective of a newly- wed Indian shop-worker in Britain, and tells the reader about his relationship with his bride and how this affects his work. The poem explores ideas about cultural identity- particularly looking at how ethnic cultures fit into Western (British) society. In ‘Checking out me History John Agard uses a Caribbean d ialect â€Å"lick back†, and phonetic spelling â€Å"dem†¦ dat† which reflects the Caribbean accent, to create a clear character voice. He does this to emphasize that he is a black Caribbean man and therefore the issues he explores are relevant and personal to him.Agard is in fact half Guyanese and so the character of the poem could in fact be him; this could be auto-biographical. ‘Singh song is similar in that DalJit Nagra uses phonetic spelling â€Å"My vife is on di web† to reflect an Indian accent, and uses some humorous examples of language ‘lost in translation' such as â€Å"at di cheese ov her price†. Like Agard, Nagra uses a Voice' which is directly linked to his own, as he is a British born Punjabi Indian, and the character speaks in what is referred to as ‘Punglish' a Punjabi influenced version of standard English.The tone of the two poems is very different- ‘Checking ut me History has an angry and negative tone. He is using the dialect and accent to emphasize how different black Caribbean is from white British. The choice to write in non-standard English perhaps reflects his disapproval of the idea of ‘standard English'- linking to his cultural identity. He repeats the phrase â€Å"dem never tell me† which emphasizes that the accused â€Å"dem† are withholding important information, and depriving him of something.He directs his poem at â€Å"dem†- a nameless authority who he claims are leaving him in the metaphorical dark: â€Å"Blind me to me own identity'. We can assume that â€Å"dem† are white people that decide the curriculum, and the narrator feels show a very polarized view of history; you could say he is trying to show that they oppress him, an idea which is fuelled by the images of slavery and oppression of black people by others, and of escape: â€Å"freedom river†, that he depicts in his descriptions of his heroes.The fact that he doesn't gi ve â€Å"dem† names suggests he doesn't think very positively of them; they don't deserve a name. He Juxtaposes white icons with black icons, and often the white icons or histories are ridiculous Dick Whittington and ne cat† or linked to war and aggression â€Å"Lord Nelson and Waterloo†. This has the effect of making the black icons he mentions seem more important and impressive â€Å"Toussaint a slave with vision†. The presentation of the poem pushes this idea further- as the black icons are written in italics, whereas the white icons are written in ‘normal' font.This could be significant as often literature uses italics to stress of emphasize a word within a sentence, he is perhaps trying to present his history choices as important in contrast to â€Å"dem's† choices. However, ou could say that there are positive moments in the poem- when he is describing the people he would like to learn about he sounds as though he is inspired, using adje ctives like â€Å"see-far† and verbs such as â€Å"struggle†¦ brave† to show his admiration.His descriptions of the black historical icons use positive imagery referring to freedom â€Å"hopeful stream to freedom river† from slavery, and of positive role-models â€Å"A healing star†¦ a yellow sunrise†. When he describe the white fgures he is taught about he is matter-of-fact and very succinct, but discusses the black figures in longer and more expressive detail. His descriptions of black icons are also free' from rhyme schemes, enforcing the theme of freedom which runs throughout. ‘Singh Song has an overall positive and Jolly tone. Nagra uses phonetic spelling and mis-translations in an amusing way.He builds what might be called a ‘stereotypical' image of an Indian man. The stereotype is shown in that: he runs a corner shop, he eats Indian food â€Å"chapatti†¦ chutney' and he lives in an ‘indian' area â€Å"di whole Ind ian road†. However, rather than being angry about being a stereotype, the character is happy and content. When non-standard English is used, it isn't necessarily deliberate or rying to make a point like in ‘Checking out me History which I think forces a phonetic difference to create an atmosphere of them' versus ‘me (the narrator)'.I do still think that Nagra is trying to disprove the stereotype subtly, and show that them' and ‘me' can be harmonious. He does this mostly through the character of the bride' who is shockingly untraditional â€Å"effing at my mum†¦ stumble like a drunk†¦ a red crew cut†, but is still connected to her Indian culture: â€Å"in all di colours of Punjabi†¦ sari†. She is a more ‘modern' and westernised representation of an Indian woman.

Sarbanesâ€Oxley Act

01. [pic]Sarbanes–Oxley Act Sen. Paul Sarbanes (D–MD) and Rep. Michael G. Oxley (R–OH-4), the co-sponsors of the Sarbanes–Oxley Act. The Sarbanes–Oxley Act of 2002 (Pub. L. 107-204, 116  Stat. 745, enacted July  30, 2002), also known as the ‘Public Company Accounting Reform and Investor Protection Act' (in the Senate) and ‘Corporate and Auditing Accountability and Responsibility Act' (in the House) and commonly called Sarbanes–Oxley, Sarbox or SOX, is a United States federal law enacted on July 30, 2002, which set new or enhanced standards for all U. S. public company boards, management and public accounting firms. It is named after sponsors U. S. Senator Paul Sarbanes (D-MD) and U. S. Representative Michael G. Oxley (R-OH). The act was approved by the House by a vote of  Ã‚  423 in favor, 3 opposed, and 8 abstaining and by the Senate with a vote of  Ã‚  99 in favor, 1 abstaining. President George W. Bush signed it into law, stating it included â€Å"the most far-reaching reforms of American business practices of Franklin D. Roosevelt. † Outliness Sarbanes–Oxley contains 11 titles that describe specific mandates and requirements for financial reporting. Each title consists of several sections, summarized below. . Public Company Accounting Oversight Board (PCAOB) 2. Auditor Independence 3. Corporate Responsibility 4. Enhanced Financial Disclosures 5. Analyst Conflicts of Interest 6. Commission Resources and Authority 7. Studies and Reports 8. Corporate and Criminal Fraud Accountability 9. White Collar Crime Penalty Enhancement 10. Corporate Tax Returns 11. Corporate Fraud Accou ntability Criticism Congressman Ron Paul and others such as former Arkansas governor Mike Huckabee have contended that SOX was an unnecessary and costly government intrusion into corporate management that places U. S. orporations at a competitive disadvantage with foreign firms, driving businesses out of the United States. In an April 14, 2005 speech before the U. S. House of Representatives, Paul stated, â€Å"These regulations are damaging American capital markets by providing an incentive for small US firms and foreign firms to deregister from US stock exchanges. According to a study by a researcher at the Wharton Business School, the number of American companies deregistering from public stock exchanges nearly tripled during the year after Sarbanes–Oxley became law, while the New York Stock Exchange had only 10 new foreign listings in all of 2004. The reluctance of small businesses and foreign firms to register on American stock exchange is easily understood when one considers the costs Sarbanes–Oxley imposes on businesses. According to a survey by Korn/Ferry International, Sarbanes–Oxley cost Fortune 500 companies an average of $5. 1 million in compliance expenses in 2004, while a study by the law firm of Foley and Lardner found the Act increased costs associated with being a publicly held company by 130 percent. † During the financial crisis of 2007-2010, critics blamed Sarbanes–Oxley for the low number of Initial Public Offerings (IPOs) on American stock exchanges during 2008. In November 2008, Newt Gingrich and co-author David W. Kralik called on Congress to repeal Sarbanes–Oxley. Praise Former Federal Reserve Chairman Alan Greenspan praised the Sarbanes–Oxley Act: â€Å"I am surprised that the Sarbanes–Oxley Act, so rapidly developed and enacted, has functioned as well as it has†¦ the act importantly reinforced the principle that shareholders own our corporations and that corporate managers should be working on behalf of shareholders to allocate business resources to their optimum use. SOX has been praised by a cross-section of financial industry experts, citing improved investor confidence and more accurate, reliable financial statements. The CEO and CFO are now required to unequivocally take ownership for their financial statements under Section 302, which was not the case prior to SOX. Further, auditor conflicts of interest have been addressed, by prohibiting auditors from also having lucrative consulting agreements with the firms they audit under Section 201. SEC Chairman Christopher Cox stated in 2007: â€Å"Sarbanes–Oxley helped restore trust in U. S. markets by increasing accountability, speeding up reporting, and making audits more independent. One fraud uncovered by the Securities and Exchange Commission (SEC) in November 2009 may be directly credited to Sarbanes-Oxley. The fraud which spanned nearly 20 years and involved over $24 million was committed by Value Line (NASDAQ:  VALU) against its mutual fund shareholders. The fraud was first reported to the SEC in 2004 by the Value Line Fund (NASDAQ:  VLIFX) portfolio manager who was asked to sign a Code of Business Ethics as part of SOX. Restitution totaling $34 million will be placed in a fair fund and returned to the affected Value Line mutual fund investors. No criminal charges have been filed. Legal challenges A lawsuit (Free Enterprise Fund v. Public Company Accounting Oversight Board) was filed in 2006 challenging the constitutionality (legality) of the PCAOB. The complaint argues that because the PCAOB has regulatory powers over the accounting industry, its officers should be appointed by the President, rather than the SEC. Further, because the law lacks a â€Å"severability clause,† if part of the law is judged unconstitutional, so is the remainder. If the plaintiff prevails, the U. S. Congress may have to devise a different method of officer appointment. 02. [pic]Generally Accepted Accounting Principles Generally Accepted Accounting Principles (GAAP) is a term used to refer to the standard framework of guidelines for financial accounting used in any given jurisdiction which are generally known as Accounting Standards. GAAP includes the standards, conventions, and rules accountants follow in recording and summarizing transactions, and in the preparation of financial statements. Principles derive from tradition, such as the concept of matching. In any report of financial statements (audit, compilation, review, etc. ), the preparer/auditor must indicate to the reader whether or not the information contained within the statements complies with GAAP. †¢ Principle of regularity: Regularity can be defined as conformity to enforced rules and laws. †¢ Principle of consistency: This principle states that when a business has once fixed a method for the accounting treatment of an item, it will enter all similar items that follow in exactly the same way. Principle of sincerity: According to this principle, the accounting unit should reflect in good faith the reality of the company's financial status. †¢ Principle of the permanence of methods: This principle aims at allowing the coherence and comparison of the financial information published by the company. †¢ Principle of non-compensation: One should show the full details of the financial informatio n and not seek to compensate a debt with an asset, revenue with an expense, etc. see convention of conservatism) †¢ Principle of prudence: This principle aims at showing the reality â€Å"as is†: one should not try to make things look prettier than they are. Typically, revenue should be recorded only when it is certain and a provision should be entered for an expense which is probable. †¢ Principle of continuity: When stating financial information, one should assume that the business will not be interrupted. This principle mitigates the principle of prudence: assets do not have to be accounted at their disposable value, but it is accepted that they are at their historical value (see depreciation and going concern). Principle of periodicity: Each accounting entry should be allocated to a given period, and split accordingly if it covers several periods. If a client pre-pays a subscription (or lease, etc. ), the given revenue should be split to the entire time-span and not counted for entirely on the date of the transaction. †¢ Principle of Full Disclosure/Materiality: All information and values pertaining to the financial position of a business must be disclosed in the records. Principle of Utmost Good Faith: All the information regarding to the firm should be disclosed to the insurer before the insurance policy is taken. 03. The International Financial Reporting Standards (IFRS) Many countries use or are converging on the International Financial Reporting Standards (IFRS), established and maintained by the International Accounting Standards Board. In some countries, local accounting principles are applied for regular companies but listed or large companies must conforms to IFRS, so statutory reporting is comparable internationally, across jurisdictions. International Financial Reporting Standards (IFRS) are principles-based Standards, Interpretations and the Framework (1989) adopted by the International Accounting Standards Board (IASB). Many of the standards forming part of IFRS are known by the older name of International Accounting Standards (IAS). IAS was issued between 1973 and 2001 by the Board of the International Accounting Standards Committee (IASC). On 1 April 2001, the new IASB took over from the IASC the responsibility for setting International Accounting Standards. During its first meeting the new Board adopted existing IAS and SICs. The IASB has continued to develop standards calling the new standards IFRS International Financial Reporting Standards comprise: †¢ International Financial Reporting Standards (IFRS)—standards issued after 2001 †¢ International Accounting Standards (IAS)—standards issued before 2001 †¢ Interpretations originated from the International Financial Reporting Interpretations Committee (IFRIC)—issued after 2001 †¢ Standing Interpretations Committee (SIC)—issued before 2001 †¢ Framework for the Preparation and Presentation of Financial Statements (1989) Requirements of IFRS IFRS financial statements consist of (IAS1. 8) †¢ a Statement of Financial Position †¢ a Statement of Comprehensive Income or two separate statements comprising an Income Statement and separately a Statement of Comprehensive Income, which reconciles Profit or Loss on the Income statement to total comprehensive income †¢ a Statement of Changes in Equity (SOCE) †¢ a Cash Flow Statement or Statement of Cash Flows List of IFRS statements with full text link The following IFRS statements are currently issued: †¢ IFRS 1 First time Adoption of International Financial Reporting Standards †¢ IFRS 2 Share-based Payment †¢ IFRS 3 Business Combinations †¢ IFRS 4 Insurance Contracts †¢ IFRS 5 Non-current Assets Held for Sale and Discontinued Operations †¢ IFRS 6 Exploration for and Evaluation of Mineral Resources †¢ IFRS 7 Financial Instruments: Disclosures †¢ IFRS 8 Operating Segments †¢ IFRS 9 Financial Instruments †¢ IAS 1: Presentation of Financial Statements. †¢ IAS 2: Inventories IAS 3: Consolidated Financial Statements Originally issued 1976, effective 1 Jan 1977. Superseded in 1989 by IAS 27 and IAS 28 †¢ IAS 4: Depreciation Accounting Withdrawn in 1999, replaced by IAS 16, 22, and 38, all of which were issued or revised in 1998 †¢ IAS 5: Information to Be Disclosed in Financial Statements Originally issued October 1976, effective 1 January 1997. Superseded by IAS 1 in 1997 †¢ IAS 6: Accounting Responses to Changing PricesSuperseded by IAS 15, which was withdrawn December 2003 †¢ IAS 7: Cash Flow Statements IAS 8: Accounting Policies, Changes in Accounting Estimates and Errors †¢ IAS 9: Accounting for Research and Development Activities – Superseded by IAS 38 effective 1. 7. 99 †¢ IAS 10: Events After the Balance Sheet Date †¢ IAS 11: Construction Contracts †¢ IAS 12: Income Taxes †¢ IAS 13: Presentation of Current Assets and Current Liabilities – Superseded by IAS 1. †¢ IAS 14: Segment Reporting (superseded by IFRS 8 on 1 January 2008) †¢ IAS 15: Information Reflecting the Effects of Changing Prices – Withdrawn December 2003 †¢ IAS 16: Property, Plant and Equipment IAS 17: Leases †¢ IAS 18: Revenue †¢ IAS 19: Employee Benefits †¢ IAS 20: Accounting for Government Grants and Disclosure of Government Assistance †¢ IAS 21: The Effects of Changes in Foreign Exchang e Rates †¢ IAS 22:Business Combinations – Superseded by IFRS 3 effective 31 March 2004 †¢ IAS 23: Borrowing Costs †¢ IAS 24: Related Party Disclosures †¢ IAS 25: Accounting for Investments – Superseded by IAS 39 and IAS 40 effective 2001 †¢ IAS 26: Accounting and Reporting by Retirement Benefit Plans †¢ IAS 27: Consolidated Financial Statements IAS 28: Investments in Associates †¢ IAS 29: Financial Reporting in Hyperinflationary Economies †¢ IAS 30: Disclosures in the Financial Statements of Banks and Similar Financial Institutions – Superseded by IFRS 7 effective 2007 †¢ IAS 31: Interests in Joint Ventures †¢ IAS 32: Financial Instruments: Presentation (Financial instruments disclosures are in IFRS 7 Financial Instruments: Disclosures, and no longer in IAS 32) †¢ IAS 33: Earnings Per Share †¢ IAS 34: Interim Financial Reporting IAS 35: Discontinuing Operations – Superseded by IFRS 5 effective 20 05 †¢ IAS 36: Impairment of Assets †¢ IAS 37: Provisions, Contingent Liabilities and Contingent Assets †¢ IAS 38: Intangible Assets †¢ IAS 39: Financial Instruments: Recognition and Measurement †¢ IAS 40: Investment Property †¢ IAS 41: Agriculture List of Interpretations with full text link †¢ Preface to International Financial Reporting Interpretations (Updated to January 2006 †¢ IFRIC 1 Changes in Existing Decommissioning, Restoration and Similar Liabilities (Updated to January 2006) †¢ IFRIC 7 Approach under IAS 29 Financial Reporting in Hyperinflationary Economies (Issued February 2006) †¢ IFRIC 8 Scope of IFRS 2 (Issued February 2006)—has been eliminated with Amendments issued to IFRS 2 †¢ IFRIC 9 Reassessment of Embedded Derivatives (Issued April 2006) †¢ IFRIC 10 Interim Financial Reporting and Impairment (Issued November 2006) †¢ IFRIC 11 IFRS 2-Group and Treasury Share Transactions (Issued November 2006)—has been eliminated with Amendments issued to IFRS 2 †¢ IFRIC 12 Service Concession Arrangements (Issued November 2006) †¢ IFRIC 13 Customer Loyalty Programmes (Issued in June 2007) †¢ IFRIC 14 IAS 19 – The Limit on a Defined Benefit Asset, Minimum Funding Requirements and their Interaction (issued in July 2007) †¢ IFRIC 15 Agreements for the Construction of Real Estate (issued in July 2008) †¢ IFRIC 16 Hedges of a Net Invest ment in a Foreign Operation (issued in July 2008) †¢ IFRIC 17 Distributions of Non-cash Assets (issued in November 2008) †¢ IFRIC 18 Transfers of Assets from Customers (issued in January 2009) †¢ SIC 7 Introduction of the Euro (Updated to January 2006) †¢ SIC 10 Government Assistance-No Specific Relation to Operating Activities (Updated to January 2006) †¢ SIC 12 Consolidation-Special Purpose Entities (Updated to January 2006) †¢ SIC 13 Jointly Controlled Entities-Non-Monetary Contributions by Venturers (Updated to January 2006) †¢ SIC 15 Operating Leases-Incentives (Updated to January 2006) †¢ SIC 21 Income Taxes-Recovery of Revalued Non-Depreciable Assets (Updated to January 2006) †¢ SIC 25 Income Taxes-Changes in the Tax Status of an Entity or its Shareholders (Updated to January 2006) †¢ SIC 27 Evaluating the Substance of Transactions Involving the Legal Form of a Lease (Updated to January 2006) †¢ SIC 29 Disclosure-Service Concession Arrangements (Updated to January 2006) †¢ SIC 31 Revenue-Barter Transactions Involving Advertising Services (Updated to January 2006) †¢ SIC 32 Intangible Assets-Web Site Costs (Updated to January 2006) †¢ SIC 33 Consolidation and equity method – Potential voting rights and allocation of ownership interests 04. The International Accounting Standards Board (IASB) The International Accounting Standards Board (IASB) is an independent, privately-funded accounting standard-setter based in London, England. The IASB was founded on April 1, 2001 as the successor to the International Accounting Standards Committee (IASC). It is responsible for developing International Financial Reporting Standards (the new name for International Accounting Standards issued after 2001), and promoting the use and application of these standards. Foundation of the IASB In April 2001, the International Accounting Standards Committee Foundation (IASCF), since renamed as the IFRS Foundation, was formed as a not-for-profit corporation incorporated in the US state of Delaware. The IFRS Foundation is the parent entity of the International Accounting Standards Board (IASB), an independent accounting standard-setter based in London, England. On 1 March 2001, the IASB assumed accounting standard-setting responsibilities from its predecessor body, the International Accounting Standards Committee (IASC). This was the culmination of a restructuring based on the recommendations of the report Recommendations on Shaping IASC for the Future. The IASB structure has the following main features: the IFRS Foundation is an independent organization having two main bodies, the Trustees and the IASB, as well as a IFRS Advisory Council and the IFRS Interpretations Committee (formerly the IFRIC). The IASC Foundation Trustees appoint the IASB members, exercise oversight and raise the funds needed, but the IASB has responsibility for setting International Financial Reporting Standards (international accounting standards). IASB Members The IASB has 15 Board members, each with one vote. They are selected as a group of experts with a mix of experience of standard-setting, preparing and using accounts, and academic work. [2] At their January 2009 meeting the Trustees of the Foundation concluded the first part of the second Constitution Review, announcing the creation of a Monitoring Board and the expansion of the IASB to 16 members and giving more consideration to the geographical composition of the IASB. The IFRS Interpretations OF Committee has 14 members. Its brief is to provide timely guidance on issues that arise in practice. A unanimous vote is not necessary in order for the publication of a Standard, exposure draft, or final â€Å"IFRIC† Interpretation. The Board's 2008 Due Process manual stated that approval by nine of the members is required. Funding The IFRS Foundation raises funds for the operation of the IASB. [7] Most contributors are banks and other companies which use or have an interest in promoting international standards. In 2008, American companies gave ? 2. 4m, more than those of any other country. However, contributions fell in the wake of the financial crisis of 2007–2010, and a shortfall was reported in 2010. 05. The Basel Committee The Basel Committee on Banking Supervision provides a forum for regular cooperation on banking supervisory matters. Its objective is to enhance understanding of key supervisory issues and improve the quality of banking supervision worldwide. It seeks to do so by exchanging information on national supervisory issues, approaches and techniques, with a view to promoting common understanding. At times, the Committee uses this common understanding to develop guidelines and supervisory standards in areas where they are considered desirable. In this regard, the Committee is best known for its international standards on capital adequacy; the Core Principles for Effective Banking Supervision; and the Concordat on cross-border banking supervision. The Committee's members come from Argentina, Australia, Belgium, Brazil, Canada, China, France, Germany, Hong Kong SAR, India, Indonesia, Italy, Japan, Korea, Luxembourg, Mexico, the Netherlands, Russia, Saudi Arabia, Singapore, South Africa, Spain, Sweden, Switzerland, Turkey, the United Kingdom and the United States. The present Chairman of the Committee is Mr Nout Wellink, President of the Netherlands Bank. The Committee encourages contacts and cooperation among its members and other banking supervisory authorities. It circulates to supervisors throughout the world both published and unpublished papers providing guidance on banking supervisory matters. Contacts have been further strengthened by an International Conference of Banking Supervisors (ICBS) which takes place every two years. The Committee's Secretariat is located at the Bank for International Settlements in Basel, Switzerland, and is staffed mainly by professional supervisors on temporary secondment from member institutions. In addition to undertaking the secretarial work for the Committee and its many expert sub-committees, it stands ready to give advice to supervisory authorities in all countries. Mr Stefan Walter is the Secretary General of the Basel Committee. Main Expert Sub-Committees The Committee's work is organised under four main sub-committees: †¢ The Standards Implementation Group †¢ The Policy Development Group †¢ The Accounting Task Force †¢ The Basel Consultative Group Basel II is the second of the Basel Accords, which are recommendations on banking laws and regulations issued by the Basel Committee on Banking Supervision. The purpose of Basel II, which was initially published in June 2004, is to create an international standard that banking regulators can use when creating regulations about how much capital banks need to put aside to guard against the types of financial and operational risks banks face. Advocates of Basel II believe that such an international standard can help protect the international financial system from the types of problems that might arise should a major bank or a series of banks collapse. In theory, Basel II attempted to accomplish this by setting up risk and capital management requirements designed to ensure that a bank holds capital reserves appropriate to the risk the bank exposes itself to through its lending and investment practices. Generally speaking, these rules mean that the greater risk to which the bank is exposed, the greater the amount of capital the bank needs to hold to safeguard its solvency and overall economic stability. Objective The final version aims at: 1. Ensuring that capital allocation is more risk sensitive; 2. Separating operational risk from credit risk, and quantifying both; 3. Attempting to align economic and regulatory capital more closely to reduce the scope for regulatory arbitrage. The Accord in operation Basel II uses a â€Å"three pillars† concept – (1) minimum capital requirements (addressing risk), (2) supervisory review and (3) market discipline. The Basel I accord dealt with only parts of each of these pillars. For example: with respect to the first Basel II pillar, only one risk, credit risk, was dealt with in a simple manner while market risk was an afterthought; operational risk was not dealt with at all. The first pillar The first pillar deals with maintenance of regulatory capital calculated for three major components of risk that a bank faces: credit risk, operational risk, and market risk. Other risks are not considered fully quantifiable at this stage. The credit risk component can be calculated in three different ways of varying degree of sophistication, namely standardized approach, Foundation IRB and Advanced IRB. IRB stands for â€Å"Internal Rating-Based Approach†. For operational risk, there are three different approaches – basic indicator approach or BIA, standardized approach or TSA, and the internal measurement approach (an advanced form of which is the advanced measurement approach or AMA). For market risk the preferred approach is VaR (value at risk). As the Basel 2 recommendations are phased in by the banking industry it will move from standardised requirements to more refined and specific requirements that have been developed for each risk category by each individual bank. The upside for banks that do develop their own bespoke risk measurement systems is that they will be rewarded with potentially lower risk capital requirements. In future there will be closer links between the concepts of economic profit and regulatory capital. Credit Risk can be calculated by using one of three approaches: 1. Standardised Approach 2. Foundation IRB (Internal Ratings Based) Approach 3. Advanced IRB Approach The standardised approach sets out specific risk weights for certain types of credit risk. The standard risk weight categories are used under Basel 1 and are 0% for short term government bonds, 20% for exposures to OECD Banks, 50% for residential mortgages and 100% weighting on unsecured commercial loans. A new 150% rating comes in for borrowers with poor credit ratings. The minimum capital requirement (the percentage of risk weighted assets to be held as capital) remains at 8%. For those Banks that decide to adopt the standardised ratings approach they will be forced to rely on the ratings generated by external agencies. Certain Banks are developing the IRB approach as a result. The second pillar The second pillar deals with the regulatory response to the first pillar, giving regulators much improved ‘tools' over those available to them under Basel I. It also provides a framework for dealing with all the other risks a bank may face, such as systemic risk, pension risk, concentration risk, strategic risk, reputational risk, liquidity risk and legal risk, which the accord combines under the title of residual risk. It gives banks a power to review their risk management system. The third pillar This pillar aims to promote greater stability in the financial system Market discipline supplements regulation as sharing of information facilitates assessment of the bank by others including investors, analysts, customers, other banks and rating agencies. It leads to good corporate governance. The aim of pillar 3 is to allow market discipline to operate by requiring lenders to publicly provide details of their risk management activities, risk rating processes and risk distributions. It sets out the public disclosures that banks must make that lend greater insight into the adequacy of their capitalization. When marketplace participants have a sufficient nderstanding of a bank’s activities and the controls it has in place to manage its exposures, they are better able to distinguish between banking organizations so that they can reward those that manage their risks prudently and penalize those that do not. 06. The Financial Accounting Standards Board (FASB) The Financial Account ing Standards Board (FASB) is a private, not-for-profit organization whose primary purpose is to develop generally accepted accounting principles (GAAP) within the United States in the public's interest. The Securities and Exchange Commission (SEC) designated the FASB as the organization responsible for setting accounting standards for public companies in the U. S. It was created in 1973, replacing the Committee on Accounting Procedure (CAP) and the Accounting Principles Board (APB) of the American Institute of Certified Public Accountants (AICPA). Mission statement The FASB's mission is â€Å"to establish and improve standards of financial accounting and reporting for the guidance and education of the public, including issuers, auditors, and users of financial information. † To achieve this, FASB has five goals: †¢ Improve the usefulness of financial reporting by focusing on the primary characteristics of relevance and reliability, and on the qualities of comparability and consistency. †¢ Keep standards current to reflect changes in methods of doing business and in the economy. Consider promptly any significant areas of deficiency in financial reporting that might be improved through standard setting. †¢ Promote international convergence of accounting standards concurrent with improving the quality of financial reporting. †¢ Improve common understanding of the nature and purposes of information in financial reports. FASB pronouncements In order to establish accounting principles, the FASB issues pronouncements publicly, each addressing general or specific accounting issues. These pronouncements are: †¢ Statements of Financial Accounting Standards †¢ Statements of Financial Accounting Concepts †¢ FASB Interpretations FASB Technical Bulletins †¢ EITF Abstracts FASB 11 Concepts 1. Money measurement 2. Entity 3. Going concern 4. Cost 5. Dual aspect 6. Accounting period 7. Conservation 8. Realization 9. Matching 10. Consistency 11. Materiality 07. Committee on Accounting Procedure (CAP) In 1939, encouraged by the SEC, the American Institute of Certified Public Accountants (AICPA) formed the Committee on Accounting Procedure (CAP). From 1939 to 1959, CAP issued 51 Accounting Research Bulletins that dealt with issues as they arose. CAP had only limited success because it did not develop an overall accounting framework, but rather, acted upon specific problems as they arose. Accounting Principles Board (APB) In 1959, the AICPA replaced CAP with the Accounting Principles Board (APB), which issued 31 opinions and 4 statements until it was dissolved in 1973. GAAP essentially arose from the opinions of the APB. The APB was criticized for its structure and for several of its positions on controversial topics. In 1971 the Wheat Committee (chaired by Francis Wheat) was formed to evaluate the APB and propose changes. Financial Accounting Standards Board (FASB) The Wheat Committee recommended the replacement of the Accounting Principles Board with a new standards-setting structure. This new structure was implemented in 1973 and was made up of three organizations: Financial Accounting Foundation (FAF) Financial Accounting Standards Board (FASB) Financial Accounting Standards Advisory Council (FASAC). Of these organizations, FASB (pronounced â€Å"FAS-B†) is the primary operating organization. Unlike the APB, FASB was designed to be an independent board comprised of members who have severed their ties with their employers and private firms. FASB issues statements of financial accounting standards, which define GAAP. The AICPA issues audit guides. When a conflict occurs, FASB rules. International Accounting Standards Committee (IASC) The International Accounting Standards Committee (IASC) was formed in 1973 to encourage international cooperation in developing consistent worldwide accounting principles. In 2001, the IASC was succeeded by the International Accounting Standards Board (IASB), an independent private sector body that is structured similar to FASB. Governmental Accounting Standards Board (GASB) The financial reports of state and local goverment entities are not directly comparable to those of businesses. In 1984, the Governmental Accounting Standards Board (GASB) was formed to set standards for the financial reports of state and local government. GASB was modeled after FASB.

Regulatory Agency Paper Essay

The agencies that are in charge of monitoring health care facilities and practitioners are known as health care regulation agencies. These agencies also provide the organizations with information about changes in the industry. At the federal, state, and local level the agencies establish rules and regulations that health care organizations have to follow mandatorily. Some agencies, especially those that provide accreditation for health care professionals, require no mandatory participation. The objective of this paper is to examine one of those health care regulatory agencies; the Centers for Disease Control and Prevention. The audience will learn more about the history of the organization as well as responsibilities and effects of this agency on the health care industry. The Centers for Disease Control and Prevention (CDC) was created on July 1st, 1946 under the name Communicable Disease Center in Atlanta, Georgia. The whole organization occupied one floor of a small building. The f irst goal as an organization was simple; it was to prevent malaria from spreading across the nation. As a team with this goal the CDC was armed with a budget of $10 million and less than 400 employees. The founder Dr. Joseph Mountin continued to advocate for the public and its health issues, he pushed to have the CDC extend its responsibilities to other communicable diseases. Today, the CDC is one of the major operating components of the Department of Health and Human Serves and is recognized as the nation’s premiere health promotion, prevention, and preparedness agencies. (Our History – Our Story, 2013) This agency is not just focused on the disease and prevention either; their focus goes beyond that to addressing the issues, and including mental health and cancer research. Of all the organizations on all levels of government, the center for disease control is the most widespread and effective due to the amount of responsibility and information that is relayed and provided, and the  speed in which this is done. This organization runs on all levels of government, and must provide up to date factual information at all times. With the goal to educate and raise awareness of disease, death rate, precautions, and many other public health concerns there is a huge responsibility to ensure accuracy and effectiveness on all areas. The CDC is a 24 h our job; the organization is constantly working to protect Americans from health, safety and security threats both international and local. Whether disease begins at home or abroad, acute or chronic, treatable or terminal, human error or deliberate attack the CDC fights disease and supports the community and citizens to do the same. Most recently in the news there was an instance of an Ebola outbreak in West Africa. This is not a huge concern for most of us that aren’t traveling there, or don’t have family that travels back and forth, but for the Center for Disease Control this was a huge concern. This was the largest outbreak in history, and also the first on in Africa. The threat to the US is small, but the CDC being a national organization focuses on alerting us even when the threat is elsewhere and they also help provide facts and information. With this outbreak the CDC started working with other government agencies including: the World Health Organization, and other domestic and international companies to help activate the Emergency Operations Center. This is done to help coordinate technical assistance and control activities with partners. The communication between government agencies during these times is crucial to ensure supplies, shelter, medication, and assistance is provided when needed. The Center for Disease Control has ensured to deploy teams of public health experts to West Africa and will continue to send experts to the affected countries. This is evidence of the miraculous team work that begin with the CDC. Without the technology, information, and ability to coordinate countries, and public health experts, West Africa would be suffering more struggles than what this outbreak has already caused. (2014 Ebola Outbreak in West Africa, 2014) The Center for Disease Control is one of the most major operating components of the Department of Health and Human Services. The organization uses grants and contracts to fund 85% of the costs to promote health and quality of life by preventing and controlling disease, injury, and disability. Each year, the CDC awards approximately $7 billion in over 14,000 separate grant and contract actions, including simplified  acquisitions (CDC’s Procurement and Grants Office, 2013). Although this is a government organization, there are also state wide and county wide alerts, prevention, and management that are used to focus in on specific areas that may be affected when other areas are not. CDC’s Business Management and Accountability Activities are guided by the following principles: stewardship of public funds, continuously improving customer service and satisfaction, providing the best value for the investment, accountability through performance metrics, job satisfaction through workforce development, and searching for innovation in work processes (Business Practices, 2013). In order to remain affe ctive in a growing society based on technology, the Center for Disease Control has modified the business practices. An example of this is in order to have funding available for future threats, the organization has consolidated all 13 information technology infrastructure services, this in turn reduced operating costs of 21% ($23 Million) (Business Practices, 2013). Another way that the Center for Disease Control carries out the duty of helping manipulate the budget to prepare for any future threats or outbreaks is over the last two years the organization has conducted public-private sector competitions for various functions covering nearly 1,000 CDC staff positions resulting in saving over $40 Million through the development of the most efficient organizational proposals to carry out required functions. (Business Practices, 2013) The Center for Disease Control has a huge regulatory authority to health care. The responsibility to consolidate thousands of disease cases is hard enough, but the CDC must also remain anonymous in some areas to keep the patient’s health record information and personal information discrete, while also alerting the community of a possible disease spread. HIPAA, Health Insurance Portability and Accountability Act, is not only followed by health care professionals, but must also be regulated with the CDC as well. H ospitals must also report to the CDC when certain cases of certain diagnoses come up, and when new threats arise as well. Together the health care professionals and the Center for Disease Control must: alert the community, respect privacy, prevent panic, and provide a solution. These goals are a huge responsibility and yet this organization has managed to provide these services steadily since 1946. The Center for Disease Control has a certification and accreditation process that ensures all information systems  made available by CDC to implement the National Program Cancer Registries, or NPCR meet or exceed the C&A accreditation standards when operated with appropriate management review. It requires ongoing security control monitoring and reaccreditations periodically or when there is a significant change to an information system or its environment. Within the accreditation process there is security certification, which when talking about the Center for Disease Control is a comprehensive evaluation of the CDC’s management, operational, and technical security controls for an information system. This documents the effectiveness of the security controls in a particular operational environment and includes recommendations for new controls to mitigate system vulnerabilities. Security certification results are used to assess risks to the system and update the systems securit y plan. (The CDC Certification†¦, 2012) In conclusion there have been facts supporting the agencies structure, and the history of how the agency became successful in the public health eye. This paper covered the organizations’ effect on health care and improvements to everyday life in multiple communities across the world, and the regulatory authority that the Center for Disease Control has in relation to health care. Although we have many agencies working together toward a common goal of better health, the Center for Disease control definitely holds a high standard of impact. With all of the regulations, accreditations, partnerships, and knowledge that the Center for Disease Control is able to manage and coordinate how did the world of health ever run without it? With these facts, and examples the role and regulation of the CDC is more clear and understood, so next time there is an outbreak in research, or in disease there will be one thing we can count on and that is that the CDC will be on the frontline ready to organize, prevent, educate, and assist in the solution. References 2014 Ebola Outbreak in West Africa. (2014, September 6). Retrieved September 8, 2014, from http://www.cdc.gov/vhf/ebola/outbreaks/guinea/ Business Practices. (2013). Retrieved September 8, 2014, from: http://www.cdc.gov/about/business/business.htm CDC’s Procurement and Grants Office. (2013). Retrieved September 8, 2014, from http://www.cdc.gov/about/business/funding.htm Our History – Our Story. (2013). Retrieved from: http://www.cdc.gov/about/history/index.html The CDC Certification and Accreditation (C&A) Process. (2012). Retrieved September 8, 2014, from http://www.cdc.gov/cancer/npcr/tools/security/cdcca.htm

Credit and Financial Analysis Assignment Example | Topics and Well Written Essays - 1000 words

Credit and Financial Analysis - Assignment Example A credit operation should do everything to establish a "suitable credit basis" upon which business with "every customer that the sales department desires to have purchase our products." The way I design your terms and policies should protect me from potential lawsuits and keep my operation steady, but should simultaneously work to get me business. Bad debts and losses are part of the job, but if I don't extend credit, I also can't make anything from it (Jacob, 64). Answer # 2. Every business that extends credit has had to deal with customers filing bankruptcy. The debtor has the benefit of an "automatic stay" immediately upon filing a bankruptcy petition. That stops you from taking any further action to try to collect the debt unless or until the bankruptcy court decides to the contrary. In that case I would be better off if I were shipping on a consignment basis, in that way I would seize any further actions and that will eventually save me from a big loss, which could have incurred in the other way. Question # 3. Two companies, A and B, differ in the nature of their business only in the ways that are mentioned below. Indicate which company is likely to be the better credit risk by writing "A" or "B" next to each of the following and explain: "A" Where Credit risk is involved, some consideration also involves local economy but more precisely the credit history of the company itself irrespective of its location. A company you are lending credit can have office in both the location. Both of them are the largest city of their state. But certainly Philadelphia is much older and bigger than Omaha. Company located in better credit risk would be in A as its local economy favors it. Company A's economy is heavily based upon manufacturing, refining, food, and financial services where as B's local economy is based on agriculture. b.) Company A manufactures women's hats; Company B manufactures women's sportswear - sweater, skits, blouses, etc. "B". Definitely Company B, as its product lines are broad and much more established. From their broad product line, their profits would be much higher than company A. c.) Company A manufacturers only against confirmed orders while company B produces inventory before receiving any orders. "A". Company A would be at better risk as they are working on profit based manufacturing. They will have no risk of excessive inventory in their store and subsequently no loss on manufactured product. d.) Company A plans to produce automobiles and B, auto accessories. Both have starting capital of $10,000,000.00 "A" because Company's A turnover will be much higher than company B. e.) Company A manufactures an unbranded product. Company B makes the same product under an advertised brand name. "B". Company that produce branded products are reliable and well established. Question # 4. In each of the following situations, indicate whether your

Recommondation letters for University application Essay

Recommondation letters for University application - Essay Example The results of the student’s assessment tasks have revealed that strengths in the areas of critical thinking, problem-solving, and thinking outside the box have been manifested effectively. On the other hand, there are still areas to be improved such as determining policy implications, which I am sure, could be developed through immersion to higher course modules. With innate enthusiasm and genuine interest on the subject, I am confident that Name of Student would continue to exhibit exemplary academic performance, in conjunction with the knowledge, abilities and skills gained in the course and in other course modules of the identified academic level. The objective evaluation and assessment of the applicant’s previous academic performance, as duly noted and acknowledged, would be highly appreciated given that future contribution to your academe’s mission and ideals would surely be mutually beneficial. It is one’s privilege to recommend Name of Student to the course currently being pursued from your academic institution based on the highly commendable academic performance exhibited during my course, the International Corporate Finance. Said student rose above the rest due to the consistency by which above average results in performance were exemplified. The student was observed to be highly focused on the theoretical concepts presented in the course module which resulted in meritorious ratings and scores. The results of assessment tasks ranging from the mid-semester test, a course project, and the final exam confirmed the dedication and amount of extensive time and effort placed on the subject. Students of this caliber have consistently proven that skills in time management, critical and analytic reasoning, and comprehensive understanding of financial theories assist in the applications needed for future endeavors. In this regard, I am sure that your institution would recognize that

Analysis Australian industries Research Paper Example | Topics and Well Written Essays - 1000 words

Analysis Australian industries - Research Paper Example 350). In fact the Australian per capita GDP is better than Britain, France and Germany. Australia always maintained a position in the top 20 developed countries in the world. Service sector is mainly contributing to the Australian economy apart from agriculture and mining. In 1900, Australia was the highest income country in the world. By 1950 it slipped to the third position, in 1970 it was in the 8 th position whereas its position further slipped down to 26 th in 1999 (Anderson, K. 2001, p.33) This paper briefly explains the environmental factors like technological element, economic element, legal-political element, socio- cultural element and international element which affect the Australian industrial growth. The importance of technological development cannot be underestimated in any business. â€Å"The technological element reflects current knowledge about product and service generation† (Bartol et al, 2008, p.43). Technological advancement gives an organization competitive power in the market. For example, consider two firms; first one still using typewriters and fax machines for typing and sending documents whereas the second one using computers and internet for the same purpose. The second firm will get more competitive advantage in the market compared to the first firm because of the better technology it uses for the communication process. As mentioned earlier, service sector, agriculture and mining sector are the major contributors for the Australian economy and the role of technological advancements are critical in these sectors. Banking, finance, insurance, tourism, media, entertainment food etc are some of the major service sectors in Australia which needs technological advancements (Service Sector—World class tertiary industries, 2009). For example, it is difficult for the banking sector to use rely on conventional means to improve the business. Internet banking, mobile

Opportunities and limitations of using social media in the marketing Essay

Opportunities and limitations of using social media in the marketing - Essay Example The intricacy of a product varies depending on the specific characteristics or the consumer perception of the product. Some products are seen to be more intricate since the technical specifications associated with them need considerable personal effort from the consumer in order to be familiar with the attributes of the product. Majority of the cultural products are perceived as intricate particularly when the works produced need specific knowledge or depend on abstract ideas that need the ability of the consumer to understand the concepts involved.Even though there is a commonly held perception that arts marketing is an area of minority interest, this is more associated with a lazy prejudice than a clearly considered suggestion. Social media can be an important instrument as far as generating interest in the masses about arts is concerned. This is because social media can be a fast and inexpensive way of disseminating and sharing information on the arts and this information will eas ily reach more people. The minority that has knowledge in the cultural organization can utilize social media to reach the many that are not knowledgeable in this area.The potential limitations that are associated with marketing cultural products through social media as far as the sharing of information is concerned include the unequal access or usage. This means that the individuals who may not be using social media will have less opportunities of getting the information associated with the cultural products.

Analysis of Green Space and its Accessibility in AL-Madinah City, Essay

Analysis of Green Space and its Accessibility in AL-Madinah City, Saudi Arabia, - Essay Example Green spaces are of great importance both for ecological balance and for the health of individuals (Heidt and Neef, 2008). They play a fundamental role in providing opportunities for rest, relaxation and enjoying the beauty of nature for the urban population wishing to escape the daily stresses of urban life. Moreover, green spaces facilitate sport and leisure activities. In reference to the ecological benefits green space absorbs and expels pollutants from the environment, by acting as an urban heat sink thereby protecting urban biodiversity. Green spaces are important for improving the air quality during the day, ridding it of carbon dioxide and other pollutants; they also beautify the environment, create a soothing atmosphere, and protect people from the glare and heat of the sun This research will develop and extend current methods for the spatial analysis of patterns of green space accessibility with regards to all segments of the population in Madinah, Saudi Arabia. Increasing rates of urbanization in Madinah have led to increased pressure on many of the services and facilities, especially green spaces and gardens which are a key requirement for high density neighborhoods as they beneficial for the human life and for the environment as well. Thus, there is need to analyze these patterns and accessibility in order to guide green space planning both now and into the future.The huge evolution in Geographic Information Systems techniques can be used to analysis the accessibility to green spaces.... he services and facilities, especially green spaces and gardens which are a key requirement for high density neighborhoods as they beneficial for the human life and for the environment as well. Thus, there is need to analyze these patterns and accessibility in order to guide green space planning both now and into the future. The huge evolution in Geographic Information Systems techniques (Spatial Analysis, Modelling, Spatial Assessment, Network analysis) can be used to analysis the accessibility to green spaces. During GIS analysis of access to green space, it is imperative to compare the official classification of land area with the land use pattern on the ground. According to Chang (2008), classifying land portion is a viable method of appreciating land use in an area. Chang (2008), in his study, analyzes the accessibility of green space in terms of land area use. He compared the land use matrices in different areas in order to ascertain green space accessibility by considering the impact of different land uses over the accessibility of green spaces (Chang, 2008). Chang (2008) found that the impacts of land use, such as commercial and industrial activities, are directly proportional to area dweller’s access to the green space. The aim of this research is to analyse: [1] the geographical distribution of green spaces and [2] the factors that affect accessibility to green spaces to ensure that any future development addresses the issue of equitable distribution and access to parks and green spaces. The study will analyze the geographical distribution of green spaces and their facilities in Madinah by collecting relevant data from various parks of the city. The results will be represented through tables, graphs, and maps to show the pattern of geographical

Discuss the legacy of Puritan thought in the work of Cotton Mather Essay

Discuss the legacy of Puritan thought in the work of Cotton Mather - Essay Example Still, he also used the technique of the constant application of religious and biblical ideology to the contemporary world. Mather serves as an icon for conservative, unapologetic Puritanism for social and political change. Mather was an outspoken Puritan thinker and an definitive conservative, lining as a clergyman, writer and sociologist in the sixteen and seventeen hundreds. He called for a return to the Puritanical ways of his grandfather and great grandfather if the new world (America) was to be saved and to thrive. Cotton Mather’s views are openly expressed in such works as Pillars of Salt and The Wonders of the Invisible World. Mather wrote personally and definitely not in an unbiased way, drawing on Biblical and figurative language to speak to the audiences of his time. Mather really emphasized the importance of the bible and conservative religious texts for characterizing moments in time and learning valuable lessons. For Mather, what he wrote was deeply personal. His biases can be seen in his writings and his writings are meant to unsettle, to stir the reader. Elements of this unrest lie in the fear that he invokes, and in the imagery and fiery language meant to press his cause. Cotton Mather’s pamphlet Pillars of Salt shows the self-criticality and sensational judgment of Mather’s writing and of the tenets of Puritanism. Pamphlets were a sort of true crime fiction, intended to show accounts of gruesome and sinful deaths. This example of an impious life was something Mather clung to in his own writings. Mather says to the condemned man James Morgan, â€Å"Mark what I say: You were born among the enemies of God, you were born with a soul as full of enmity against God, as a Toad is full of poison† (Mather). Humans are sinful- and the concept of original sin follows everyone, so they should live a holy life. Pillars of Salt included Mathers first sermon about

Role of management consultants Essay Example for Free

Role of management consultants Essay The article speaks about the role of management consultants in the present world. The demand for management consultants was brought about by the changes in business trends and priorities as we are shifting towards globalization. However, the author continued that although there are several changes in the business situation brought about by modernization and globalization, the role of management consultants remain the same. It is their responsibility to make oversee that business operations remain productive and efficient. Moreover, the responsibility of management consultants is to explore business situations in order to determine problems or difficulties, and through careful processing and planning, make out resolutions in order to resolve barriers that hinder the growth of businesses. The author cited several important roles that management consultants must have the ability to carry out and also characteristics that they should exhibit in order to provide beneficial services to their clients. The know-how and experience is highly important in management consultancy. Management consultants should know a variety of business situations from simple to complex, and have access to extensive resources in order to work with their clients efficiently and fittingly. Goal-setting and planning are other roles of management consultants. Working together with their clients, they must be able to set a direction for the management by determining pressing needs and requirements. Management consultants must be able to use their knowledge, skills, and experiences to achieve the goals and objectives of the management. Moreover, consultants should always be present to supervise, direct, and support the management in order to ensure that everything is going well as planned, and also to determine if there are some issues or concerns overlooked in the process. Another desirable quality of management consultants is flexibility and adaptability. Consultants should be able to formulate plans and business solutions that are suitable to the business or the management’s needs and concerns. Flexibility and adaptability means the ability to customize plans and business solutions, but at the same time be able to make changes as needed in order to make sure that the best possible solutions are carried out. In addition, management consultants should be able to assist the transition from management changes in an effortless way without causing much disturbance to the business setting. The article entirely speaks of the important of management consultants to management and supervision, and to the business organization as a whole. It is highly interesting that the greatest influence is obtained most from the management consultants who are in charge of the management. With the ideas expressed in the article, the significance of management consultants is realized, especially in ensuring that management, supervision, and the business setting is well on its way to achieving its organizational mission, goals, and objectives.

Hyderabad city

Hyderabad city Introduction: Hyderabad, the capital city of the state of Andhra Pradesh is one of the fast growing urban assortments in India. It is located on the Deccan plateau which is in the southeast part of India and it is a typical inland city .Hyderabad has a semi-arid climate and an annual rain fall of 75 centimeters. The city of Hyderabad is famous for its lakes; it has about 5 lakes surrounding it. These lakes help in the water supply for the city of Hyderabad. Hyderabad has one of the most beautiful lakes with boating facilities for visitors. These places also offer sports like Para sailing, water scooter, etc. these lakes are home for many migrating birds. Hyderabad has a population of 5.2 million inhabitance that is the quarter of the population of the state of Andhra Pradesh and it has a population growth rate of 10% a year. Other than the population Hyderabad has an uncontrolled industrial growth in and around itself. Due to the population and the industries surrounding Hyderabad the demand for water supply is very high. The water that is necessary is provided by the river Musi and the 5 lakes surrounding it these 5 lakes are Hussain sagar Saroornagar lake Osman sagar Himyat sagar Shamirpet Lake These lakes in Hyderabad are manmade which serve the purpose of storage and supply of water of the great city of Hyderabad. Hyderabad gets its rain in the south west monsoon period in the Indian climatic chart. Most of the rain fall occurs in the months of June to September. What these lakes do is they store this rain water so it can be utilized in the time of need. Hyderabad is known as the â€Å"city of pearls†. The city is a major hub for information technology industries as well as pharmaceutical industries, biotech industries. Due to the presence of so many people and industries the demand for water supply is more, and this demand for water supply is provided by the lakes surrounding Hyderabad. (Ramachandraiah, C. and Sheela Prasad (2004, 2003)). The main water sources and the water suppliers for the city of Hyderabad comes from the various water projects that are surrounding it the following table will explain this Pressure On Water Use: Hyderabad is a large city with a huge population having many industries and a large agriculture area because of this water coming from a single source is not sufficient; this is where the lakes surrounding Hyderabad help. First we should identify the key water users who we need to supply water. The water that is supplied from these lakes is used for Agriculture Industries Household Recreation Environmental uses Agriculture: agriculture is essential for the production of food and to cultivate we need water. So the water that is stored in these lakes is supplied for agricultural purposes by using pipe lines but mostly in India water needed for agriculture is used from bore wells. In Hyderabad 35% of the water is supplied for agriculture. Industries: industries play a vital role in Hyderabad and Hyderabad is a place where new industries are being built every ware .in order for these industries to run sufficient water should be supplied. These industries are located in Patancheru, Bolaram, BHEL, Hi-tech city; generally 15% of the citys water is supplied to these areas. Household: 40% of the water that is being supplied to Hyderabad is used for household purposes .Since it is a city it contains many people and also because of the industries people will be visiting due to this a large amount of water is needed this water is supplied by the lakes surrounding it. Recreation: 5% of the water that is being supplied to Hyderabad is used for recreation purposes like water parks like Ocean Park; Jalvihar.This water is also used for golf course which is at Bolaram. The water used in swimming pools also comes under recreational purposes where Hyderabad ha s a lot of swimming pools around it. Environmental purposes: in this water usage includes artificial lakes intended to create wildlife habitat, fish ladders, and water releases from reservoirs timed to help fish spawn and the Hussain Sagar Lake was created mainly for this function and it is located in the center of the city. Demand /Supply Issues: For the city of Hyderabad there are many demand and water supply issues which need to be kept in mind considering the population and economic growth if we need to fix this problem we need to identify and develop new supply sources almost continually. Increase in population growth rate, overexploitation of ground water, poor sewage treatment, declining surface water resources and deterioration of ground water quality these are the major water related issues in Hyderabad. The major supply and demand issues and the factors that affect this for Hyderabad are concerned with the following Population growth: Hyderabad has a Population of 5.2 million and having a growth rate of 2.5% ever year is considered to be a large city and the population is very high because of this the supply and the demands needs of the citizens are not met correctly .Due to this large population supply of the required amount of water is very difficult. Increased affluence: This is also an issue due to the increase in population and poverty in India increasing affluence without doubt means more water consumption from needing clean fresh water 24 hours a day, 7 days a week and basic hygiene service. Rapid urbanization: Due to the rapid urbanization of the city of Hyderabad and its constant expansion because of this it requires investment in water infrastructure in order to deliver water to individuals and to process the concentrations of wastewater, because of this rapid urbanization the water supply to all the people is not going well and this has become a major issue. Expansion of business activity: since Hyderabad is a large city and a site for many businesses and industries and also the number of industries and businesses are growing in a constant rate due to this it will attract many people and it will lead to urbanization an increase in population and because of this increase there will be in issue for supply of water for all these people. Climate change: climatic change plays an important role in the supply of water for the city of Hyderabad every year the amount of rainfall is decreasing or due to the climate change the rainfall is not falling in the sufficient time. Because of this there is an issue in the supply of water for the city of Hyderabad. Pollution and water protection: Due to the dumping of pollution into the rivers and lakes that are produced by humans and industries surrounding Hyderabad the water in them cannot be used and the water protection is also not so grate so we cannot use this water, due to this the supply of water is gradually decreases. This is by far one of the major issues concerned with the water bodies surrounding Hyderabad. Pressures On Water Quality: In addition to encroachments, pollution of lake waters by untreated domestic sewage and toxic industrial effluents has been going on over the years in the city of Hyderabad. The lakes that used to provide drinking water do not do so now. First in the city of Hyderabad there were supposed to be six industrial areas but there are now twelve areas and also many of these industries are located near the lakes due to which all the lakes are getting polluted because of the wastes that are coming out from these industries. Because of these effluents that are coming out from the industries the lakes are becoming toxic and because of this toxicity the lakes are becoming devour of any life. Some of the important rivers polluted by the industrial effluents are Bollaram, Isakavagu, Nakkavagu, and Manjeera. A study conducted by HUDA showed that 18 water bodies we most polluted while 67 were less polluted and out of the 36 lakes only 6 lakes were in useable condition. The pollution control board was unsuccessful in implying the Environment Protection Act, 1986, the Water Act, 1974 and the Air Act, 1981.HUDA gave particulars abort 169 lakes covering an area of 90.56sq.km.amongs these 25 are private, 62 are governments and 82 are partly government partly private. According to the law these areas must be kept from any construction to prevent any type of pollutions to the lakes and to allow free flow of water into the lakes. There are about 200 Central and State laws to protect environment in India (Sinha, 2001:47). As per section 24 of the Water (Prevention and Control of Pollution) Act, 1974, poisonous, noxious or polluting matter shall not be discharged, directly or indirectly, into water bodies, sewers or on land. Similarly, under sections 7 of the Environment Protection Act, 1986 Ã¢â‚¬Ë œno person carrying on any industry, operation or process shall discharge or emit or permit to be discharged or emitted any environmental pollutant in excess of such standards as may be prescribed (Divan and Rosencrantz, 2001: 653, 676).The government of Indias (GOI, 1992) policy statement on abatement of pollution declares four guiding principles with the objective of integrating environmental considerations into decision making (Ibid.: 36): (i) prevention of pollution at source, (ii)adoption of the best available technology, (iii) the polluter pays principle, and (iv) public participation in decision making Referencing: Ramachandraiah, C. and Sheela Prasad (2004) â€Å"Impact of Urban Growth on Water Bodies: The Case of Hyderabad†, Working Paper No. 60, Centre for Economic and Social Studies, Hyderabad. Ramachandraiah, C. (2003): â€Å"Urbanisation and Urban Services†, in Hanumantha Rao, C.H. and S. Mahendra Dev (eds.) Andhra Pradesh Development: Economic Reforms and Challenges Ahead, CESS, Hyderabad. Sinha, S. (2001) ‘Environmental Protection: Role of Constitutional Courts, in Contribution of the Andhra Pradesh High Court in the Development of Constitutional Law, High Court of Andhra Pradesh, Hyderabad. GoI, (1992) Policy Statement for Abatement of Pollution. Delhi: Ministry of Environment and Forests, Government of India. Divan, S. and A. Rosencranz (2001) Environmental Law and Policy in India: Cases, Materials and Statues. New Delhi: Oxford.

Marketing Mix Analysis Of Le Bistrot Pierre Restaurant Marketing Essay

Marketing Mix Analysis Of Le Bistrot Pierre Restaurant Marketing Essay Introduction Marketing mix is used to describe the combination of different marketing activities that a business does to best meet the needs of the market it is targeting (Jobber and Fahy, 2009). At first, the marketing mix was compounded of 4Ps; starting with the product, price, place and promotion. Thereafter other elements were added to these tools and these elements were; people, process and physical evidence. Considering the added elements, the marketing mix of 7Ps forms a tool that businesses use to satisfy the needs of costumers in the market it targets. Accordingly, the purpose of this report is to analyse how Le Bistrot Pierre, a French restaurant on Mill Lane, in Leicester uses the marketing mix. Identifying where this restaurant succeeds in using the 7Ps and where it fails and proposing what improvements can be made. The main product in Le Bistrot Pierre is the food and drinks menu. The products must provide good value for money for customers and be of a high quality to entice the customers to want to spend and to make a return visit. This restaurants food and drinks menu are of a very high standard. The website notes that the managing team of the restaurant often go to France to taste new foods and drinks to offer to their customers. Le Bistrot Pierre also offers a breakfast menu to its customers at selected branches. Unfortunately, Le Bistrot Pierre does not offer a childrens food menu. However, if the restaurant was to offer a childrens menu it would entice families to visit the restaurant knowing that they would not have to buy their children and adults meal only for a lot of it to be wasted. Furthermore, offering a childrens menu would promote the restaurants family friendly atmosphere and increase overall profits. As mentioned above Le Bistrot Pierre offers a breakfast menu, however it only offers this menu at its Leamington Spa, Harrogate, Stockton Heath and Stratford-Upon-Avon branches. Therefore, its customers in places like Nottingham and Leicester do not have the opportunity to taste this menu. Furthermore, although these 4 branches offer breakfast menus they all open at different times, for instance, Stratford-Upon-Avon offers its breakfast menu from 7am on weekdays whereas Leamington Spa only offers its breakfast menu on weekends (Le Bistrot Pierre, 2010). One problem with this is that customers who are travelling throughout the UK and see a Le Bistrot Pierre restaurant may assume that they can get a breakfast then realise that the particular branch they have gone to does not offer this service. Though Szymanski, et al (1993) suggest that marketing standardisation across business branches is still under constant debate, the effect of giving customers mixed perceptions about opening time s and breakfast service across cities may be problematic. Therefore to ensure that customers have a good customer experience at all times the chain should offer the breakfast menu at all its chains and at the same times. The Price It is important that the price should be competitive however the food offered should also represent the amount of money that the customer is spending on it. The lunch menu at Le Bistrot Pierre according to the website is  £9.75 for two courses and  £11.75 for three courses (Le Bistrot Pierre, 2010). These prices are reasonable when one looks at other French style restaurants in Nottingham. For instance, French Livings lunch time menu offers a two course meal for  £8.50 and a three course meal for  £10.50 (French Living 2010). In addition to this, Le Mistral in Nottingham offers a 2 course lunch menu for  £8.90 and 3 course lunch for  £10.90 (Le Minstral 2010). In regard the wine menu at Le Bistrot Pierre, they offer their cheapest white wine at  £13.75 and the most expensive at  £27.60, and for their red wine, their cheapest is  £17.95 and their most expensive  £61.75. This seems reasonable when compared with Le Mistral another French restaurant in Nottingham that offers their cheapest white wine at  £13.95 and their most expensive at  £45.50, and for their red wine their cheapest is  £13.95 and their most expensive is  £45.60. The Place Place is concerned with the location so that the customer can buy the product with ease, and its accessibility to the store is another important aspect. In the case of the restaurant it ideally should be in a central place. This means that it is in an area of high exposure for potential customers, be they on foot or in a car. In regard to Le Bistrot Pierre, they are located centrally in all their 8 locations. These locations are in different counties in the UK such as, Derby, Harrogate, Leamington Spa, Leicester, Nottingham, Sheffield, Stockton Heath and Stratford-Upon-Avon. Similarly, a new branch is being opened in Yorkshire, providing a wider reach to customers around the UK. A negative aspect of Le Bistrot Pierre is that it does not offer a car parking facility at any of its chains; therefore if someone wishes to park their car they will have to pay high central city prices. One potential improvement for future restaurants within this group would be to have a car parking facility to entice customers from the outskirts of cities to visit them. The Promotion Promotion involves different items and the ways in which businesses communicate their products to the customer showing the benefits of buying their products. Le Bistrot Pierre has 2 very popular promotions they do daily, the first is the Early Bird and Pre-Theatre menu which consists of 2 courses before 7pm and costs 13.90. The second is the Prix Fixe Evening with a glass of St. Jean wine which costs 15.50. In regard to special events, Le Bistrot Pierre offers the Soirà ©e Gastronomique menu on the 2nd and 4th Tuesday of the month for 21.90 and the Dine with Wine 3 course menu, each course comes with a specially matched wine for 26.90. In addition to this, Le Bistrot Pierre also promotes its brand via gift cards that customers can purchase for their family and friends to go and try the restaurants food and drink. The People People includes everyone who is connected to the product. This involves employees, customers, management and the business owners; therefore everyone has an important role in making the business succeed. The restaurant need to have qualified chefs and staff who can present the product to the customers and are experts in French cuisine. Le Bistrot Pierre details on their website the type of person they wish to work them, noting that they wish to employ people who are friendly, enthusiastic, hard working and care about giving excellent customer service in a busy restaurant environment. Le Bistrot Pierres website has several reports from journalists promoting the superior quality of their food. Furthermore, Le Bistrot Pierre uses the media and journalists to promote their offers and competitions for free evening meals. The Process Process focuses on the activities done to the product before it is provided to the customer and the method or the process used to provide the service. The main element in process is time, if the process takes long, the sale of the product will be affected. Interestingly, the Le Bistrot Pierre team visits some suppliers in order to ensure the health of the livestock purchased. This evidently expresses the concern that the management have towards providing the customers with their monies worth. Accordingly, the quicker the process is, the more appreciated the product. In the restaurant website news section, an article taken from Leicester and mercury newspaper dated 3rd June 2010 shows an appreciation to this process of being quick and flawless. The only slight let down mentioned by the writer Gary Mitchell was that when he ordered chocolate mousse for his desert, he ended up with an Orange chocolate he did not order. The Physical Evidence Physical evidence can be defined as the experience in the use of either service or product. For example, brochures or pamphlets that describe the product to the customer to enable him to know what he is buying and its qualities. Also, the restaurant is furnished in a very warm way in which the high and middle class individuals will be comfortable dining and wining. Moreover, the arrangement of the hall can be adjusted to suit family seating. This means customers of different categories can find convenience in Le Bistrot Pierre. In the case of the different restaurant servings, it is described in its various menu cards for starters, main courses, desserts, and drinks. Conclusion In general, Le Bistrot Pierre used all the 7Ps of the marketing mix to meet the needs of the customers, though it slightly failed to use them fully as Gary Mitchells article points out. Improving the quality of the service, adding childrens menu and creating home delivery meals, would help to increase the popularity of the restaurant; though it has already set a good reputation in gastronomy as the restaurant declares it in the website. Furthermore, Le Bistrot Pierre may preferably consider putting the breakfast menu in all branches that do not have this menu yet. This should be supported by specific timing for the breakfast start in all branches. Finally, Le Bistrot Pierre do not have car park and may lose some customers. They could try to create arrangements (or contract) with the nearest car park and tell the customers they have free parking. This will serve as a means to entice potential customers and increase business for the restaurant.

Seinfeld :: essays research papers

Seinfeld It was a warm September Thursday night in 1991. I was engaged in my favorite past time of "channel surfing" when a light appeared at the end of the tunnel. Displayed on my favorite, "20 inch friend", (also known as my usual Saturday night date), appeared a remarkable treasure. There before my eyes was a sitcom called Seinfeld. From that moment on I was astounded to find that not even great sitcom's such as my beloved Mash and I Love Lucy were as captivating or enthralling. There is only one show that could have started Must See TV, only one show that could be the anchor for new sitcoms year after year while continuing to hold it's position of number one in the rating wars, only one sitcom is this grand, this superior, and this notable, Seinfeld. The zenith of television sitcoms. Season after season, Seinfeld has provided non-stop laughing, excellent acting and original scripts mirroring real life. One of the major factors contributing to the overwhelming success of the show is its cast of unstererotypical characters. The main characters refereed to as the "Fab Four", consist of Jerry Seinfeld, Elaine Benes, George Costanza and Cosmo Kramer. Jerry Seinfeld, known by his own name on the program, is the central figure of the sitcom and the catalyst for almost everything that happens. He is involved in the antics revolving around Kramer, George and Elaine. On one episode George, Kramer and Jerry are spying on the naked lady across the street all day to see who can win a bet. The twist at the end of the show is when we see George and Jerry peering through the window and gasping, " Is that Kramer in her apartment? Wow he is naked!" Another episode involves Jerry who is mistaken for a Nazi leader arriving in town to speak at a meeting. He continues the charade in order to secure a limousine ride home after the frustration of his own ride not being there to pick him up. As the main character, he is most often the straight man allowing the other characters to play off of him. One of his common lines is, "wait a minute here, you mean to tell me-----", then recapping the situation, action or blunder the other character was involved in. This in turn allows the supporting actor or actress to verbally and almost always physically respond with exaggerated gestures and eye movements. Jerry reflects the single male, quasi yuppie, New Yorker, with the bicycle hanging in the apartment, the security system to "buzz" guests in, and the 12 boxes of cereal

Fundamentals of Management :: essays research papers

Functions of Management There are four different functions of management. In this paper, I will define these functions; planning, organizing, leading and controlling. I will also explain how each of these functions relates to my own organization. Bateman and Snell (2004) define management as the process of working with people and resources to accomplish organizational goals. By utilizing the four different functions of management companies can work with their employees and other resources to reach the organizations goals. Planning can be used to help the organization map out a way to efficiently achieve their goals. The beginning of the planning process should include analyzing of the current situation. From this information the company can determine the goals and start to outline the steps that need to be taken to ensure that the goal will be met. Other planning activities that should be completed are determining the company’s objectives and were they want to be in the future. This will help them to choose their business objectives and strategies. In addition, the company should look at the resources that they have available and determine if they are sufficient to achieve the organizations goals. This leads to organizing. Organizing is done through assembling and coordinating financial, human, physical, informational and other resources need to achieve the goals. (Bateman & Snell, 2004) Recruiting is a large part of organizing. Human resources are an important role. The company must try to attract the people needed to properly staff the organization to be able to meet the goals. The employees in an organization can be considered the most valuable asset at times. In addition, by specifying job tasks and grouping them into work units it helps to better organize the work load and resources. In order to do this the organization must management the tasks and personnel. Leading is mobilizing or stimulating people to achieve their best. Managers need to be able to motivate their employees to achieve the business group and overall organizational goals. One way for a manager to do this is through close contact and communication on a daily basis. Workers that get positive feedback and motivation from their managers are going to be more willing to help the team achieve the goal at hand. Through leading their employees the manager can ensure that the team is working well together and is efficiently reaching their goals. If the manager is working closely with the team they will know when something is not working and can take immediate action to correct it.