Thursday, October 31, 2019
Organizational Change Essay Example | Topics and Well Written Essays - 1750 words
Organizational Change - Essay Example The power and strength of the Army is not only the number but also lies in the contribution from individual soldier. This is because it is not important for them as to what job they have or which rank they hold. The Army has more than 675,000 soldiers which are divided into 488,000 soldiers on Active Duty who are ready to react and fight immediately in any mission and 189,000 soldiers in Army Reserve, who can be mobilized rapidly when their combat and military skills are required in situations of national emergency or in global conflicts (ABOUT THE ARMY). As the US Army consists of a large number of soldiers, it has to be organized into separate units, each with a respective leader and a reporting structure. The Army is separated into two major components as the Active Duty and the Army Reserve. Those who operate in any of the component are known as the Enlisted Soldiers, the Non-Commissioned Officers (NCOs), the Warrant Officers or the Commissioned Officers. The following diagram shows how the Army operational unit is organized (ABOUT THE ARMY). The US military life is tough regime where the soldiers are trained to live and survive in tough conditions. No form of social contact is allowed for them. The result is that when these soldiers return back to their social lives they face difficulty in accommodating themselves with the social culture. They get repulsed by the poor physical fitness of the civilians, by the uncivilized uncouth behavior according to their standards, and by what these army persons considered as pervasive selfishness and aimless consumerism. Many also found themselves avoiding their old friends, and some even experienced problems in communicating with their own families. These soldiers develop this feeling that the civilians are only interested in being losers and underachievers. They find the general civilian life nothing but nasty (The
Monday, October 28, 2019
No Easy day by Mark Owen and Kevin Maurer Essay Example for Free
No Easy day by Mark Owen and Kevin Maurer Essay No Easy day by Mark Owen and Kevin Maurer, is the firsthand account of the mission that killed Bin Laden. Navy seal operator mark Owen was on operation Neptune Spear, also known as mission jeranamo and was tasked with leading a team of seals into the guest house of the compound that held Bin Laden. After they raided the guest house and kill Bin Laden’s brother he goes to the main building; c1, to assist the other operators. Once they got to the third floor of the main building, Bin Laden stuck his head out of the door; one of the operators squeezed off two rounds and hit Osama on the left side of his head. They cleared all the other rooms and gathered all the intelligence possible before they had to infiltrate. History was made on May 1, 2011; Osama Bin Laden was killed by an exceptional group of navy seals. They ended a ten year long man hunt which ended up becoming a war. Many lives were lost in the hunt for a single man; many say it was not worth it and many say it was, the point is that it is over and we are starting to pull soldiers back to the United States. Heroes are being reunited with their families and are out of danger. I learned a lot from this book because it explain a lot of parts that were miss interpreted by a lot of people; like why they did not relies the picture of dead Osama, not because they were not sure if it was him but because half of his head was missing from being shot. A lot of people did not believe it was him because the government wouldn’t release his picture and they dropped his body into the ocean. They dropped it into the ocean to avoid him becoming a martyr and people worshipping him. The book is a great book for anyone who loves the military or wants to know more about Navy seals and how they killed Bin Laden. The book goes threw a lot of Mark Owens seal training and other rotations to Iraq and Afghanistan. He also writes about how he was part of the captain Richard Phillips rescue in 2008. It has a lot of information written clearly and easy to fallow. It keeps you interested threw every sentence.
Saturday, October 26, 2019
Auditing Regulations in the UK
Auditing Regulations in the UK Introduction Following the financial disasters that led to the collapse of corporations such as Enron and WorldCom, international and national regulators sought to strengthen legislation relating to the internal and external auditing of corporations. This resulted in the introduction of a number of international and national Acts and enforceable codes, commencing with the Sarbanes-Oxley Act 2002[1] in the US (www.sarbanes-Oxley .com). In the UK the government introduced the Combined Code (FSA 2006) in 2003, which has subsequently been revised and strengthened, and revised the Companies Act (2006). These became the foundation for corporate governance and appropriate auditing procedures. This paper seeks to evaluate the effectiveness of this regulatory framework in creating an auditing environment that will prevent a repeat of the disasters that led to their introduction. This will follow a brief overview of the auditing processes is provided initially. The Audit Process There have been several definitions of the term audit; perhaps the most succinct of which is that based upon the American Accounting Association’s, which states that: â€Å"Auditing is a systematic process of objectively gathering and evaluating evidence relating to assertions about economic actions and events in which the individual or organisation making the assertion has been engaged, to ascertain the degree of correspondence between those assertions and established criteria, and communicating the results to users of the reports in which the assertions are made.†Porter et al (2003, p.3). In other words, the task of an auditor is, through the use of a structured programme, to gather evidence relating to the financial statements made by a corporation, evaluate the accuracy of the statements made in the light of this evidence and also to ensure that any opinions and reports presented are in accordance with the prevailing rules, regulations and criteria. They then have to present a certified unbiased view of their findings from the audit to external stakeholders, such as the shareholders and government authorities (See figure 1). There are several types of audits conducted throughout an organisation. However, this paper concentrates upon the external and internal audit. A licensed and qualified firm of auditors, whose independence from the organisation must comply with the definitions set out the combined code and accompanying guidance notes, carries out an external audit. The essential purpose of the internal audit is, in the words of the Institute of Internal Auditors (Spencer-Pickett 2003, p.2), intended to â€Å"improve the effectiveness of risk management, control and corporate governance processes.†Whilst the intention of this process, as with external auditing, is to provide and independent assurance on these processes and controls, the internal audit personnel are employed directly by the corporation. Current regulations The auditing process relates to most corporations (Gray and Stuart (2004), but this paper concentrates upon the Public Limited Company. In respect of financial reporting within the UK, commercial organisations are governed by the rules of the Combined Code (2006) and the international reporting standards set by the IFA[2], as explained within their handbook (2006). Combined Code The combined code concentrates upon five areas of the corporation’s activity and internal structure. These include: Directors – which include advice on suitability, proportion of executive to non-exec directors on the board and their roles and independence. It also defines a clear distinction of duties between CEO and Chairman. Remuneration This relates formula for the make-up and levels of director’s pay, together with the inclusion of an independent remuneration committee. Accountability and audit –Requires the board, through an independent audit committee, to maintain an adequate system of internal control that should be audited, the selection and independence of external auditors and outlines the process of accountability of the organisation to the various stakeholders. Relations with shareholders – Outlines the responsibility of the board to its shareholders and the reverse. This section of the code also sets out the requirements of the board to include the shareholders rights within their voting and operating procedures. Institutional shareholders – Section E of the code concentrates specifically upon the relationship that exists between the board and its institutional shareholders and outlines the dialogue that should occur between the two stakeholders of the business. IFRS Perhaps most important aspect of the financial reporting and auditing process is contained within the FRS[3] and SSAP[4] (ASB 2007) regulations, the former of which are based upon the international standards, which have been subjected to a series of amendments in recent years. Main Objective The Main IFRS objective is to promote a universal financial reporting standard, with the intention of providing an equality of financial information that can improve comparison and reliability of content on a global basis. In addition, the standards set out to increase the trust and reliance on financial reporting system, thus reducing the likelihood and potential risk of financial disasters such as Enron. Other objectives The objective of IAS 1:7 is directly related to the provision of financial information to be used for investment or other economic reasons, such as acquisitions. As such it concentrates upon the reliability of the accounting and reporting standards for the Balance Sheet and Cash Flow statements. Therefore, it focuses on a fair representation, attracting significant importance to the â€Å"fair value†of assets, liabilities and equity, allowing interested parties to ascertain the current real market value, thus making â€Å"historical cost accounting†redundant. Company officers have to prepare and sign compliance statements in terms of the veracity of the information and internal controls operated by the corporation and there must be a separate external audit certificate. The IFRS measurements are applied to each of the standards, although there is intent to introduce measurement as a separate application[5]. However, at present IFRS 2, relating to share based performance has specific measurement guidelines, as does the IFRS relating to the treatment of fixed assets, Here the initial measurement is the acquisition paid, but in later reports these values must reflect a fair current market value, unless there is a reason for this not being possible. In general, the measurements require a â€Å"current fair value†model to be used The presentation of financial statements and disclosures is also addressed For example, the Balance Sheet must contain at least sixteen lines (IAS1.68), which include tangible and intangible assets, current and future liabilities and a breakdown of the equity structure. IAS 1.81 provides the requirements for the income statement including revenue, costs, profit or loss and its distribution. As shown within the list of standards prepared by Deloitte (2005), in addition to the above there is a range of other requirements, including risk assessment corporate governance regulation compliance. If any disclosure cannot be made a certified statement has to be prepared by management and included within the financial reports giving the reasons for this omission. The major task for external auditors is to certify the accuracy and compliance of the statements, and the effectiveness of internal controls ensure efficient business management and a secure level of protection for investors and shareholders exists. Where risks exist, this must be identified with recommendation for actions. Concerns In spite of the regulations and codes, there are still concerns being expressed by investors and shareholders. These generally fall within three categories. Auditor competence and independence A recent survey shows shareholders are concerned about the external auditors. This focuses on their independence, experience and suitability and compliance with procedures. Independence of internal controls Similar concerns are being expressed regarding the internal controls and auditing process. Shareholders are not convinced that the level of effectiveness in identifying fraud and risk is effective or transparent enough and are thus seeking an expansion of financial reporting statements (John Lorinc 2002). Shareholder concerns are supported by research at the university of Auckland (Cheung and Hay 2004), which particularly showed auditor independence to be a major concern to investors. Fair value The concept of â€Å"fair value†is another issue causing disquiet. To date, the IFRS do not have a single definition for the term. Therefore it becomes subject to independent expertise and opinion. However, the fact that such opinions can vary significantly means that the level of reliance on â€Å"fair value†is considerably reduced. Conclusion As can be seen from this evaluate, whilst the IFRS’s go a long way towards addressing the issues surrounding the accuracy, reliability and honesty of financial reporting, the issues of â€Å"fair value†and auditors independence are still a major concern in the minds of investors. This is supported by events such as the near collapse of Northern Rock PLC in the last quarter of 2007, which shows that that there are still inadequacies within the reporting standards that need to be addressed. In this case there are questions to be asked about the interpretation of â€Å"fair value†and the internal controls. By inference, this must also raise the issue of auditor suitability. References ASB (2007). Accounting Standards and Practice. Retrieved 30 November 2007 from http://www.frc.org.uk/asb/technical/standards/accounting.cfm Cheung, Jeff and Hay, David. (2004) Auditor Independence: The Voice of Shareholders. Business Review. Volume 6, issue 2. University of Aukland. Copnell, Timothy (Director) (2006). Shareholders’ Questions 2006. Audit Committee Institute KPMG LLP. UK Deloitte (2005). IFRS 7: A disclosure checklist. Retrieved 28 April 2007 from http://www.iasplus.com/fs/0510ifrs7checklist.pdf FRC (2005). Guidance on Audit Committees (The Smith Guidance). Financial Reporting Council. London, UK. Gray, Iain and Manson, Stuart (2004). The Audit Process: Principles, Practice and Cases. Third edition. Thomson Learning. Handbook of International Auditing, Assurance, and Ethics Pronouncements. (2006). International Federation of Accountants. New York. KMPG (2005). KMPG International Survey of Corporate Responsibility Reporting 2005. Retrieved 29 June 2007 from http://www.eldis.org/go/display/?id=19513type=Document Lorinc. John (2002). After Enron. CA Magazine. Canada. December 2002. Porter, Brenda., Simon, Jon and Hatherly, David (2003). Principles of External Auditing. John Wiley and Sons Ltd. Chichester, UK. Sarbanes-Oxley (2002). Retrieved 29 November 2007 from www.sarbanes-Oxley.com Spencer-Pickett, K.H (2003). The Internal Auditing Handbook. John Wiley Sons Inc. New Jersey, US. The Committee on Corporate Governance (2006). The Combined Code on Corporate Governance. Financial Reporting Council. London. Footnotes [1] Also known as the â€Å"Public Accounting Reform and Investor Protection Act of 2002†[2] International Federation of Accounts [3] Financial Reporting Standards [4] Statement of Standard Accounting Practice [5] see http://www.iasb.org/Current+Projects/IASB+Projects/Fair+Value+Measurements/Fair+Value+Measurements.htm
Thursday, October 24, 2019
Financial Analysis Essay -- essays research papers
Financial Accounting MidTerm I.     Debit vs. Credit A.     Debit Debit = left side of T-account On the Balance Sheet a debit indicates: 1.     An increase in an asset 2.     A decrease in a liability 3.     A decrease in shareholders’ equity item B.     Credit Credit = Right side of T-account On the Balance Sheet a credit indicates: 1.     A decrease in an asset 2.     An increase in a liability 3.     An increase in shareholders’ equity item ** HINT** - Identify two components of each transaction: 1.) what did you get; 2.) where did it come from. The debit is what you got, and the credit is the source of the item you received. For instance, let’s imagine that you purchase a computer with your credit card. Since the computer is what you received it’s going to result in a debit to the asset account for your computer. The credit will be applied to the credit card liability account for the same amount. II.     What accounts Increase/Decrease with debits and credits      Account Type     Debit      Credit Balance Sheet     Assets      Increase     Decrease Balance Sheet     Liabilities     Decrease     Increase Balance Sheet     Owner’s Equity     Decrease     Increase Income Statement     Revenue     Decrease     Increase Income Statement     Cost of goods sold     Increase     Decrease Income Statement     Expenses     Increase     Decrease III.     Typical Accounts A.     Assets Cash     Marketable Securities Accounts receivable      Notes receivable Interest Receivable  &nb... ...ccounts decrease cash and appear with negative signs. 2) Step 2: Classify the change in each balance sheet account as an operating, or investing, or financing activity and enter it in the appropriate column of the work sheet using the same sign as the first column. 3.) Step 3: Sum the entries in the Operations, Investing, and Financing Columns and net the 3 sums to ensure that they equal the net change in cash. ***Things to Remember*** In T-accounts the balance are as follows:      Asset: balance on the left      Liability: balance on the right      Stockholders’ equity: balance on the right Balance Sheet is written as follows:      Assets      Liabilities      Stockholders’ equity Income Statement is written as follows:      Sales      Other Revenue      Cost of Goods Sold      Expenses      Net Income Statement of Cash Flows (Indirect Method) is written as follows: Operations Investing Financing
Wednesday, October 23, 2019
Dematerializtion of Architecture
The history of discourses has been developed for centuries, and architecture have entered a phase of re-evaluation. Because of the prevalent technology and media of creation in the virtual world, contemporary architecture is dematerialized to be images and abstract ideas. The definition of architecture has become even more subjective, obscure, ambiguous and limited. We took advantages from photography and the technology of visualization.But the excessive trust on the visual sensation has somehow blinded our eyes and becomes he obstacle for understanding space and architecture. Photographers and designers selectively frame an object to depict a most exaggerated angle or to capture a most exciting moment. Audiences lost their autonomy in discovering the truth, because there is no other materials available except the illusions. The resulted biased understanding to architecture contradicts to Juhani Pallasmaa's theory. He reaffirmed Merleau-Pontys philosophy, the human body is the centre of experiential world, in his book: The Eyes of The Skin.He argues that multi-sensory experience allows the human body perceiving the qualities of space, matter and scale in a more profound manner. However, the multi-sensory experience does not apply to those intangible architecture. The obsession of rendering has enervated the importance of materiality. Materiality means mapping or tiling texture' over the flat surface in the simulation program, disregarding physical properties, thickness, stiffness, elasticity, and density, of each specific material. We recklessly over simplify materiality.In renderings, stainless steel eans highly reflective and shiny; wood means brown and static; brick means pixelated facade. Material has been degraded to be a piece of veneer or wallpaper, fragile and dispensable. This encourages substituting one material with another material. It is not rare to use hollow metal with shiny coating to imitate stainless steel in the construction practice. The ide ntity of material is fading away. Last but not least, the inflation of the project scale has disrupted the relationship between an individual and the built habitat.The immense scale of the new evelopments confuse us because everything is out of human proportion. Windows grow too big to become curtain wall. Doors are automatized, because they are too heavy to open. Towers are too high that takes hours to walk up. We cannot use the traditional quantitative mechanism to interpret matters. We could Just live within a building and hardly get to see the whole picture of it. The tangible structure is dissolved to be purely impression. Here we go back to photography in seeking a solid answer to the understanding of contemporary architecture.
Tuesday, October 22, 2019
Free Essays on SWOT Cisco Systems Inc
Cisco Systems, Inc. GENERAL INFORMATION In the late 1970’s two Stanford university sweethearts created the first router out of frustration. Sandra Lerner of the Business Department, and Leonard Bosack, of the Computer Science Department wanted to send love letter to each other via the University computer system e-mail. Unfortunately their respective departments used different computer networks, so they created the first router, a way to connect the two local area networks. This initial creation of Cisco was formed as an emergent strategy, which is an unplanned response to unforeseen circumstances. In 1984, Leonard and Sandy started the company on a tight budget by financing it on the credit cards, and mortgaging their home. In February 1990, after approaching nearly eighty venture capitalists, Cisco went public. Soon after, seven of the upper management vice presidents went to John Morgridge, the company’s new president and CEO, and gave an ultimatum: either Lerner left or they would leave. So on August 28th, Sandra Lerner was asked to leave the company. Right afterwards Bosack quit. In 1994, Cisco introduced the â€Å"Cisco Connection online†which customers could find out anything regarding their products, from the status of an order to customer support. Today, Cisco Systems, inc. is the worldwide leader in networking for the Internet. Cisco’s Internet protocol based networking solutions are the foundation of the Internet and most corporate, education, and government networks around the world. Virtually all message or transactions sent over the Internet are carried quickly and securely through Cisco equipment. Cisco Systems develops, markets, and support high performance multi-protocol internetworking systems, which link geographically, dispersed LANs and WANs. It produces Internet software and network management software which enables various network services to include connectivity, security, and inte... Free Essays on SWOT Cisco Systems Inc Free Essays on SWOT Cisco Systems Inc Cisco Systems, Inc. GENERAL INFORMATION In the late 1970’s two Stanford university sweethearts created the first router out of frustration. Sandra Lerner of the Business Department, and Leonard Bosack, of the Computer Science Department wanted to send love letter to each other via the University computer system e-mail. Unfortunately their respective departments used different computer networks, so they created the first router, a way to connect the two local area networks. This initial creation of Cisco was formed as an emergent strategy, which is an unplanned response to unforeseen circumstances. In 1984, Leonard and Sandy started the company on a tight budget by financing it on the credit cards, and mortgaging their home. In February 1990, after approaching nearly eighty venture capitalists, Cisco went public. Soon after, seven of the upper management vice presidents went to John Morgridge, the company’s new president and CEO, and gave an ultimatum: either Lerner left or they would leave. So on August 28th, Sandra Lerner was asked to leave the company. Right afterwards Bosack quit. In 1994, Cisco introduced the â€Å"Cisco Connection online†which customers could find out anything regarding their products, from the status of an order to customer support. Today, Cisco Systems, inc. is the worldwide leader in networking for the Internet. Cisco’s Internet protocol based networking solutions are the foundation of the Internet and most corporate, education, and government networks around the world. Virtually all message or transactions sent over the Internet are carried quickly and securely through Cisco equipment. Cisco Systems develops, markets, and support high performance multi-protocol internetworking systems, which link geographically, dispersed LANs and WANs. It produces Internet software and network management software which enables various network services to include connectivity, security, and inte...
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