Philosophical Argument ( 400 Words ) - 844 Words

PHILOSOPHICAL ARGUMENT (400 words) According to Sartre (1948, p.1) Existentialism is a principle that renders human life possible, through the affirmation that all truth and action denote an environment and a human subjectivity. A belief that the essence of man precedes that existence which we encounter through experience (Sartre, 1948, p. 3). Existentialism places the full responsibility for one’s existence upon our own shoulders; putting a man in ownership of himself as he is, responsible for his own individuality (Sartre, 1948, p. 3). But he is also responsible for men, as he fashions a certain image of man, as I would have them to be (Sartre, 1948, p. 4). â€Å"I think, therefore I am†, this is the supreme truth of consciousness as it attains to itself (Sartre, 1948, p. 9). Through this man invents and defines himself; this is specifically what Sartre means by ‘freedom’ and provides a connection to understanding ‘selfhood’ (Richey, 2015, p. 8). It is conceivable to be free without having explicit consciousness of our freedom (Vasey, 2010, p. 2). As if a person could simply be who he is, Vasey (2010, p. 8) states then he would be in the present, and the present tense would be just right for capturing his experience, his relationship to both himself and his world. At the core of existentialism, is the absolute character of the free commitment, by which everyone realises his or her selves in comprehending a type of humanity. Such humanity refers to a commitmentShow MoreRelatedHow Truth Was Defined By Medieval Europeans1696 Words   |  7 Pagesthe beginning of the dark ages and use religion as the impetus for unifying all of Europe. Medieval Europe was a period of European history identified the years 500-1500 the Middle Ages or the Medieval Period. The word medieval came about when early scholars combined the two Latin words medium and aevum, meaning the transition between ancient and modern times. The first 500 years of thi s period are known as the Early Middle Ages or the Dark Ages. They were called the Dark Ages because the level ofRead MoreKant And David Hume Views On The Matter1457 Words   |  6 Pagesscottish philosopher whom had a peaked interest in human nature, had a different philosophical reasoning than those before him. He expresses that inclinations are important and without the ability to express these desires or feelings misery will take place and that misery is classified as false philosophy. Hume forged a distinction between what he calls true and false philosophy. The latter is a source of misery...(Cahn, 400), unlike any philosopher before, he saw the difference in the way philosophyRead Moreapollo 500851 Words   |  4 Pageslatest research regarding the subject area. Liberty University does not necessarily endorse specific personal, religious, philosophical, or political positions found in these resources. III. Additional Materials for Learning A. Computer with internet access (broadband recommended) B. MP3 and Windows media capabilities (iTunes, Windows Media Player, etc.) C. Microsoft Word (Microsoft Office is available at a special discount to Liberty University students.) IV. Measurable Learning OutcomesRead MoreShakespeare Is The Greatest Masterpiece Ever Written? Essay1710 Words   |  7 Pagesâ€Å"To read or not to read,† that is the question. With each passing year, the philosophical question must be asked, â€Å"Is Shakespeare relevant in the 21st century.† Shakespeare lived over 400 years ago and the English style in which he wrote has changed, making it difficult for new students to read and understand his writings without the use of translation. Shakespeare’s eloquent execution of rhyme and flowing images commands a locution that slips from the tongue like silken cream, and this giftedRead MoreCorporate Social Responsibility Essays1662 Words   |  7 Pagesaction by convincing themselves that they will act virtuously in the future, in effect, offsetting the vice that they previously indulged in (Khan Dhar, 2007). The study suggests that although the consumer and citizen ‘within us’ approve of the phi losophical idea of a socially responsible firm, that when faced with seductively priced goods, all bets are out the window. Another study titled, â€Å"Licensing Effect in Consumer Choice†, provides another antithesis, proposing that by taking part in previousRead MorePhilosophy And Philosophy Of Philosophy Essay2033 Words   |  9 Pageswhat we have discussed during the time that we have been in this course. It covers the basic ideals of both eastern and western philosophy quite eloquently over the span of just one sentence. 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I cannot live without my soul!† [Ch 16Read MoreThe Problem Of National Self Reliance Essay1473 Words   |  6 Pagesis: how do proponents of liberal economics convince citizens of democracies that systemic level liberalization is beneficial even as those citizens may suffer negative economic consequences at the personal level? From an academic perspective the argument for increasing economic liberalization and the reduction of barriers to trade makes perfect sense. It is difficult for academics and policy makers to sell constituents on such an ephemeral idea. The common sense perspective says that keepingRead MorePhilosophy of Ethics Essay2233 Words   |  9 PagesThe word â€Å"ethics† comes from Greek ethikas meaning character. Today, we use ethics to describe the normative standard of behavior. The history of philosophical ethics has been broken up into five rational methods: Virtue, Traditio nal, Modern, and Post-Modern Ethics. Within these periods, the philosophy of ethics changed along with the changes being made within society. The first rational method is Virtue Ethics. The major philosophers during this period were materialists such as Plato, Aristotle

Consumer Protection Law of Uae Free Essays

Consumer Protection Law of UAE In United Arab Emirates; a new federal consumer protection law has been promulgated. Under which a consumer protection committee formed to monitor the prices of consumer goods. The provisions of the laws advocate the principle of healthy competition and fighting monopoly and commercial fraudulence. We will write a custom essay sample on Consumer Protection Law of Uae or any similar topic only for you Order Now The new legislation is complementing other laws concerning civil procedures, commercial fraudulence, commercial agencies, industry organization and trading in precious gems and metals.Disregarding any provisions of these laws could lead to violation of other related laws and this itself is enough to ensure strict enforcements. The law No: 6 of 2006 covers and tackles issues relating to the rights of consumer, responsibilities and liabilities and specifying penalties to be imposed on people for selling substandard goods. Under the law, a consumer protection higher committee will be constituted under the chairmanship of the Minister of Economy. The Committee will also comprise of representative of the Consumer Protection Societies.The Committee formation and determination of its powers will be decided by a resolution of the cabinet. In case of a crisis or extraordinary circumstances in the market leading to price hikes, the minister will recommend procedures to curb such price increases and protect consumer’s interests. A new Consumer Protection Department (CPD) will also established at the Ministry of Economy (MOE) with a mandate to supervise the execution of the general policy for the protection of consumer in cooperation with the authorities.The Key responsibilities of CPD includes; 1. To supervise the implementation of policies designed to protect Consumers in cooperation with the concerned authorities in the State. 2. To coordinate with the concerned authorities in the State in order to cope with the unlawful commercial practices detrimental to the Consumer. 3. To coordinate with the concerned authorities to heighten Consumer awareness in the State about the commodities and Services, along with having the Consumers acquainted with their rights and the methods of the claims thereof. 4.To monitor Price movements and curb Price increases. 5. To achieve the principle of the honest competition and fight monopoly. 6. To receive complaints from Consumers and refer them to the concerned authorities or otherwise take the necessary action(s) prescribed in the Department’s mandate. A Complaint may be filled directly by the Consumer or through the consumer protection association, when such acts as the representative of the particular Consumer. 7. To publish and distribute the decision and recommendations designed to raise Consumer awareness.The key responsibilities of the (CPD) includes increasing the consumer’s awareness, monitor the movement of prices and control their increase, combat monopoly, to receive consumers complaints and adopt appropriate action. The law states that the Provider shall upon offering any commodity to consumers shall prominently display in the cover of the commodity or on the packet a label the particulars of the product including date of production,or packing, net weight, country of origin, expiry date, compnents and specifications of product etc.The Provider shall also prominently display the price of the product either in the label or at the place where the commodity is displayed. The consumer shall also have the right to receive a dated bill for the product with paticlulars such as price, type etc. The laws warrants the conformity of the product or the service provided to the consumer with the declared and approved standardized specifications. As per the law, the supplier is prohibited to display or promote counterfeited commodities that would inflict damages or losses on consumers.According to the new law, a consumer will be entitled to be indemnified against personal or financial damages in accordance wit h the general rules in force. Any agreement in contravention therewith be null and void. Concerning commercial and trade agencies, the law says that each commercial agent or distributor shall honour all guidance provided by the manufacturer or the trade agent of the commodity. The law also obliges the provider to provide for repair, maintain or provide service to the product after sales and to replace a product if a defect is found in the product within a specific time period.The law also confer legal capcity to CPD to represent the Consumers before the Courts and any other body prescribed by law. Without prejudicing the rights of the parties to go to the Court, the department can also proceed with any settlement to protect the consumers’ interest. According to law, those found guilty of violating the provision will face a fine of not les than Dhs. 1,000/-. In case a supplier or a distributor fails to unequivocally warn against the hazards associated with use of the commodity or the service causing damages penalty will be not less than Dhs. 0,000/-. The new law is a milestone in serving the interests of the consumers in protecting their basic rights against unfair trade practices, unscrupulous exploitation etc and their right to seek redressal against such practices. The law guarantee the consumers right to be heard and to be assured that consumers interests will receive due consideration at the appropriate forum. Environmental Law in the UAE The body of Environmental Law in the UAE comprises Federal Laws and Local Orders issued at municipal level within certain of the Emirates.The UAE also recognises certain international conventions and protocols. A list of the Laws is provided in the appendix to this article. In this article we deal broadly with the provisions of Federal Law No. (24) of 1999 for the Protection and Development of the Environment (â€Å"Law No. 24†) which forms the backbone of the Environmental Law within the UAE. We also deal more specifically with Environmental Impact Assessments, the procedure relating thereto and the institutions charged with the responsibility for implementing the Law. Law No. 24The objectives and general principles of this Law are the following: Protection and conservation of the quality and natural balance of the environment. Control of all forms of pollution and avoidance of any immediate or long-term harmful effects resulting from planning for economic, agricultural or industrial development or other programs aimed at improving life standards. Co-ordination among the FEA, competent authorities and parties concerned with the protection of the environment and conservation and consolidation of environmental awareness and principles of pollution control. Development of natural resources and conservation of biological diversity in the UAE and exploitation of such resources with consideration of present and future generations. Protection of society, the health of human beings and other living creatures from any activities and acts which are environmentally harmful or impede authorised use of the environmental setting. Protection of the UAE environment from the harmful effects of activities undertaken outside the region of the UAE.Compliance with international and regional conventions ratified or approved by the UAE regarding environmental protection, control of pollution and conservation of natural resources. Law No. 24 and the Executive Order published pursuant to Cabinet Resolution No. (37) of 2001 deals comprehensively with all aspects of environmental protection relating to projects; the marine environment and pollution thereof; liability and compensation for environmental damage; rotection of drinking and underground water; air po llution; disposal of hazardous waste; disposal of medical waste, pesticides, agricultural fixers and fertilisers; nature reserves; the protection of wildlife, as well as the penalties imposed for contravention of any provisions of the aforesaid. The Environmental Impact Assessment (EIA) According to Law No. 24, any entity that wishes to undertake a project within the UAE which may have an impact upon the environment must apply to the Federal Environmental Agency (FEA) or the relevant competent local authority for a license.The FEA in co-ordination with the competent authority undertake the evaluation of the environmental impact of projects. The procedure is as follows: The applicant shall attach with his application a complete statement on the project or activity intended to be undertaken including all information required in accordance with the Executive Order and forms included therein. The FEA in coordination with the competent authority shall decide on the application within a period not exceeding one month from the date of submission of the application.The applicant shall be notified of the decision and reasons for rejection of his application if rejected. The period stated above may be extended by one month if the nee d arises. Owners of projects or establishments approved by license shall undertake the regular analysis of waste and monitor the properties of discharge and pollutants generated from such projects, including degradable materials and keep monitoring records as well as send reports with the results to the FEA and the competent authorities. Federal Environmental Agency (FEA) The Federal Environmental Agency was established pursuant to Federal Law No. 7) of 1993 for the Establishment of the Federal Environmental Agency.The Law sets out the objectives of the FEA being inter alia: To protect and develop the environment: To determine the necessary plans and policies to safeguard it from damaging activities, particularly  Ã‚   Appendix The Environmental Laws in the UAE and International Protocols Federal Laws Federal Law No. 7 of 1993 for the Establishment of the Federal Environmental Agency (as amended by Federal Law No. 30 of 2001). Federal Law No. 24 of 1999 for the Protection and Development of the Environment and its Executive Order. Federal Law No. 3 of 1999 concerning Exploitation, Conservation and Development of Living Aquatic Resources. Federal Law No. 1 of 2002 for the Regulation and Control of the Use of Radiation Sources and Against Their Hazards Federal Law No. 11 of 2002 for Regulating and Controlling the International Trade in Species of Wild Fauna Flora. Abu Dhabi Local Environmental Laws Law No. 16 of 2005 pertaining to the Reorganisation of the Abu Dhabi Environment Agency. Law No. 21 of 2005 for Waste Management in the Emirate of Abu Dhabi. Law No. 28 of 2005 which is a Law Establishing the Abu Dhabi Authority for Culture Heritage.The above local laws, reference to the federal laws and the protocols can be found on http://www. ead. ae/en Dubai Environmental Laws Local Order No. 61 of 1991, a local order issued by the Municipal Council still governs environmental law at a local level. Federal Law will prevail in the event of conflict and contradiction. Local Order No. 11 of 2003 regarding Public Health and Safety of Society has replaced the specific provisions in Local Order 61 of 1991 relating to public health. Local Order No. 11 of 2003 supersedes Local Order No. 1 of 1991 in parts only (with the exception of specific provisions relating to public health and safety). We were informed by the Head of the Environment section in Dubai Municipality that a new Local Order will be issued soon. This local order will complement Local Order No. 11 of 2003 and replace Local Order 61 of 1991 in its entirety. The above local orders can be found on the below link: http://vgn. dm. gov. ae/DMEGOV/dm-legislation-localorder-a; and http://vgn. dm. gov. ae/DMEGOV/dm-legislation-order2004-a There were also amendments issued in 2004 to the Local Order No. 11 of 2003.This Local Order and its amendments can be found on Dubai Municipality ‘s website in Arabic. Please see the above links. The Municipality is currently finalizing the Executive Regulations for Local Order No. 11 of 2003 as well as a separate Local Order to be drafted for Occupational Health and Safety in Dubai . Local Order No. 7 for the year 2002 on Management of Waste Disposal Sites in the Emirate of Dubai. Local Order No. 8 of 2002 regarding Sewerage, Irrigation and Water Drainage in the Emirate of Dubai. The DM’s technical guidelines and circulars can be found on the DM’s website. Sharjah Environmental Laws Sharjah has issued Environmental guidelines pursuant to Law No. 24 of 1999 relating to specific industries, which are as follows; Environmental Guidelines for the Paint and Varnishes Related Industries. Environmental Guidelines for the Aluminium Industry. Environmental Guidelines for the Plastic and Melamine Industry Environmental Guidelines for Laundries. Environmental Guidelines for the Jewellery Industry. Environmental Guidelines for the Electroplating Industry. Environmental Guidelines for Garages and Car Wash Facilities. How to cite Consumer Protection Law of Uae, Essays

Financial Statements Relevance Corporate Finance

Question: Disucss about theFinancial Statements Relevancefor Corporate Finance. Answer: Introduction Financial statements play a key role in understanding a given companys financial performance by the stakeholders especially the shareholders. In this regard, the income statement tends to represent the profitability of the operations by highlighting the revenues earned through routine operations and the various expenses incurred therein. The balance sheet represents the financial position of the company at a given date usually the ending of a financial year or quarter and tends to reflect on the underlying liquidity and solvency for the company. The cash flow statement tends to measure the cash surplus or cash deficits that may occur during a given time period. This is imperative as at time the revenues in the income statement may not transform into cash or there may be timing difference between the receipt of revenues and expenses incurred which may be troublesome. These statements together provide a glimpse into the financial and operational performance of the financial statements in the past and predict the estimations for the future (Guerard, 2013). In this background, the financial statements of one of the leading home retailers of Australia i.e. JB-Hi Fi are analysed using ratio analysis as the primary tool so as to comment on the recent performance of the company and estimate the expectations in the future. Additionally the accounting policies of the company would also be reviewed. Accounting Policies The various accounting policies adhered by the company in relation to the various items such as inventory and sales, are in line with the applicable norms for the industry and relevant to the company. For instance, the recording of inventories is taken at the value which is lower between the realisable value and cost which is critical especially in the industry the company operates in as technological obsolescence could be sizable and hence it is imperative that the inventory captures the existing value of the inventory. Further, the revenue recognition, provisions and impairment are in line with the relevant provisions of the IFRS. Additionally, the fixed assets of the company are measured at either the historical cost or the fair value depending on the underlying asset. Fair value is primarily applied in case of land while machines and building are primarily measured at cost price in line with the relevant AASB standards. Thus, the accounting policies of the company are compliant w ith the applicable norms and accounting standards advocated by relevant authority or AASB (JB Hi Fi, 2016). Analysis of Relevant Ratios In order to analyse the performance of the company, ratio analysis would be performed as the analysis tool which would take into consideration the financial statements from FY2012 to FY2016 as indicated below. Profitability The profitability ratios for the company are summarised in the table below. The ratios represented above suggest that there is a constant improvement in the profit margins at gross level from FY2012 to FY2016. This is primarily on account of sourcing efficiency exhibited by the company primarily as it grows in size and is able to leverage economies of scale. However, the concerning observation is that the increase in gross margins has been declining and also almost eroded in FY2016 which may be attributed to the excessive competition in the industry and hence efficiency gains need to passed on to consumers. The profitability margins have exhibited a constant improvement primarily on account of decreasing cost on a per unit basis as the number of stores has constantly widened. The companys profit margin at the net level has also expanded over the given period primarily on improvement in gross profits. The ROA also shown an increasing trend primarily on the back of increased net profits coupled with fluctuations in the total asset base. However, unlike ROA, th ere is a decline in the ROE. This is apparent as it stood at 56.72% and 37.60% in FY2015 and FY2016 respectively. This may be attributed to rapid rise in equity on the back of high amount of retained earnings which has to lead to significant increase in equity in % terms as compared to profit. The asset turnover from FY2012 to FY2015 has shown an increasing trend but in FY2016 has reduced. This may be attributed to the higher increase in assets caused due to unexpected increase in inventories level at the end of FY2016 (JBHiFi, 2016) Liquidity The liquidity ratios for the company are summarised in the table below. It is apparent from the above table that the inventory turnover has increased in FY2013 indicating that the inventory levels were lower than expected as sales might have been higher in FY2013. In FY2014 and FY2015, the inventory levels have been rather moderate while in FY2016 due to higher inventory level, there has been a drop in the inventory turnover ratio. A steady downfall has been noticed in the receivables turnover which is indicative of the time delay experienced by the company in deriving cash for the credit sales. This may be attributed to the increasing competitive landscape where incentivising the buyers with long credit period and flexible EMIs becomes essential. Clearly this would have negative impact on the cash cycle as it would become longer and hence enhance the need for working capital. The current ratio has seen a major jump in FY2014. This potentially can be explained by the current liabilities decrease caused due to huge decrease in trade payables which stood a t $387 million at the end of FY2013 but reached $ 303 million at the end of FY2014. Further, in subsequent years, the decrease in the current ratio which is primarily on account of the rising trade payables outstanding at the end of FY2015 and FY2016. This is indicative of the higher competition which in turn leads to greater payables period so as to decrease the cash cycle and hence save on requirements in relation to working capital (JB Hi Fi, 2016;2014;2012). Solvency The solvency ratios for the company are summarised in the table below. The debt to equity ratio for the company has reduced from 0.82 at the end of FY2015 to 0.27 at the end of FY2016. The debt to equity ratio trend is highly dependent on the movement of the long term debt as the short term debt is negligible only for the company. Hence, the debt to equity ratio essentially mirrors the movement in long term debt. Also, the decreasing trend in the debt to equity ratio is also caused to an extent by the continuously increasing equity levels on the back of higher retained earnings due to high profits of the company. The interest coverage has grown stronger over the years and augers well for the company as the operating profit is significantly higher than the interest obligations (Graham Smart, 2012). Also, the interest obligations have also shown a decline in line with the long term debt. As a result, the company is in a strong position to honour its interest obligations and there is negligible risk in this regard. The long term debt to equity has shown a declining trend which was interrupted in FY2014 due to hike in non-current borrowings by about $ 55 million. Further, the declining trend is attributed to the increased equity on the back of higher retained earnings (JBHiFi, 2016;2014;2012). Market The market ratios for the company are summarised in the table below. Evident from the above table is that there is a surge in P/E ratio in FY2013 due to the doubling of firms stock price over the last year. This was on account of superior financial performance by the company and the significant growth potential that investors perceived in the company in the near future. Over the years, the company has met the market expectations and hence the P/E ratio has continued to be on FY2013 levels and shown marginal improvement. With regards to dividend yield, due to increase in price by almost 100% in FY2013, the dividend yield in the corresponding year has taken a hit. In subsequent years, the trend has been choppy but still a healthy dividend tiled of about 5.5 -6% is available for companys stock which is attractive for the investors. Besides, the stock also offers value for long term investors (JBHiFi, 2016). Conclusion Future Prospects From the above discussion, it is apparent that in the recent times despite high competition, the company has managed to retain its gross margins and infact has improved the net margins and hence has delivered a strong performance in terms of profitability. However, going forward, the margins would most likely be stagnant only considering the high competition that the industry is currently facing. Further, in relation to short term liquidity also, there has been an improvement in the current ratio and acid test ratio. This is favourable for the firm and indicates that in the near term there would not any difficulty to meet the obligations outstanding in the books of the company (Guerard, 2013). Also, the solvency concerns do not seem to hover on the company as its equity has increased due to higher retained earnings. As a result of increasing equity levels due to higher retained earnings, the solvency ratios are healthy during the given period and the trend observed in the period refl ects that solvency risks are minimal for the company. Further, the superior performance of the company has been aptly rewarded by the markets, which is reflected from the jump in P/E ratio led by price rise (Petty et, al., 2015). These entire factors auger well for the company and indicates for better times ahead for the company as it consolidates the various processes. Also, the company is embarking on an ambitious expansion plan in its major markets (Australia and New Zealand). This is likely to lead to improvement in the stock price further in the future on account of superior operational performance backed by an established brand name coupled with presence and high degree of operational efficiency. However, the macroeconomic environment would continue to be a vital aspect impacting the business prospects particularly the margins as in an adverse trading environment, various competitors launch discount schemes to attract consumers which tend to have adverse impact on the margins which may transform into tumbling of stock prices. References Graham, J Smart, S 2012, Introduction to corporate finance, 5th eds., South-Western Cengage Learning, Sydney Guerard, J 2013,Introduction to financial forecasting in investment analysis, 6th eds., Springer. New York JB Hi FI 2016, Annual Report 2016, JB Hi Fi, Available online from https://www.jbhifi.com.au/Documents/2016%20JB%20Hi-Fi%20Annual%20Report_ASX.pdf (Accessed on October 15, 2016) JB Hi FI 2014, Annual Report 2014, JB Hi Fi, Available online from https://www.jbhifi.com.au/Documents/Annual%20Reports/JB%20Hi_Fi%20Limited_Annual_Report_2014.pdf (Accessed on October 15, 2016) JB Hi FI 2012, Annual Report 2012, JB Hi Fi, Available online from https://www.jbhifi.com.au/Documents/Annual%20Reports/119_2012-09-14_11-11-23.pdf (Accessed on October 15, 2016) Petty, JW, Titman, S, Keown, AJ, Martin, P, Martin JD Burrow, M 2015, Financial Management: Principles and Applications, 6th eds., Pearson Australia, Sydney

Rhinoceros Endangerment Essays - Rhinoceroses, Black Rhinoceros

Rhinoceros Endangerment Rhinoceros Endangerment There are five types of rhinoceros on Earth. They are the Indian, Sumatran, Javan, Black, and White rhinos. All five species of rhinos are very close to extinction. The rhino population made a rapid decrease in the 1970's when half of the world's rhinos disappeared. There are an estimated 10,500 rhinos left worldwide. Their endangerment was cause by several reasons. The Black Rhinoceros population had decreased 90 percent since 1970. There were approximately 65,000 black rhinos then and there are about 2,500 now. Unlike most large mammals, habitat loss has not been a significant factor in the decline of these rhinos. Rhino horns have always been thought to have great powers. In 5th century BC, a rhino horn was believed capable of rendering some poisons harmless. In other times and places, rhino horns were hung in a room where a woman was giving birth, believing it would ease her labor pains. Asians used rhino horns in traditional medicines for a thousand years without threatening the species' power. Most people think that the decline of rhinos is because of poaching. This isn't true. The cause was the soaring price of oil. Young men in the Arab country of Yemen covet rhino horns for elaborately carved dagger handles, symbols of wealth and status in that country. Until the 1970's, few men could afford these prized dagger handles. But Yemen and ot her Middle Eastern countries are rich in oil, and prices for this ?Black Gold? climbed dramatically in that decade due to a worldwide oil shortage. The result was a seven-fold increase in the per capita income in Yemen, a rise in wealth that made rhino horn dagger handles within the reach of almost everyone. This small country, with a population of 6 million at the time, suddenly became the world's largest importer of rhino horns. In order to keep the rhino's from going extinct, there are some major efforts being made. Some rhinos are being moved away from unsafe areas where poachers are operating, to safe sanctuaries, and protection is being increased for rhinos in existing conservation areas. Efforts are being made to stop the illegal international trade in rhino horn, and harsher penalties for people caught poaching and dealing in the rhino horn are being introduced. Also, people are being persuaded to stop using rhino horn for medicines and cultural purposes. Human communities living in areas where rhino are found must be able to benefit from conservation efforts. For example, some of the money paid by tourists coming to see the rhino should be used to improve the local living conditions. This encourages the local people to protect the rhino. The World Wildlife Federation (WWF) has played and important role in many pioneering approaches to rhino conservation, including the development of radio-telemetry systems for monitoring, further dehorning of rhinos as a deterrent to poaching, and the re-establishment of locally extinct rhino populations. It has also redirected its focus to the two most important African rhino range states ? South Africa and Namibia. Throughout the 1990's, WWF also provided substantial support to Namibia's rhino conservation efforts. To secure what is the largest single population of black rhinos remaining on the continent, equipment and funds for ground and air surveillance have been made available to the Ministry of Environment and Tourism for work in Etosha National Park. Efforts have also focused on protecting the ?desert-adapted' subspecies, Diceros bicornis bicornis, the majority of which survive only in Namibia. WWF believes that rhino conservation and management in Namibia has also benefited from ongoing efforts to ensure that the rural communities that share their land with these animals obtain direct and sustainable benefits from wildlife-based tourism. Hopefully, these efforts will help the rhino population grow back to the numbers they were in the 1960's. These animals have been roaming the Earth for a very lone time and if we protect them instead of kill them, they will be roaming for many years to come. There will be many challenges in the future to preserve these magnificent creatures. If we help and support organizations such as the WWF, we will be successful in this battle. Animal Science

German Loan Words Used in English

German Loan Words Used in English If you are an English-speaker, you already know more German than you may realize. English and German belong to the same â€Å"family† of languages. They are both Germanic, even though each has borrowed heavily from Latin, French, and Greek. Some German words and expressions are used constantly in English. Angst, kindergarten, gesundheit, kaputt, sauerkraut, and Volkswagen are just some of the most common. English-speaking children often attend a Kindergarten (childrens garden). Gesundheit doesnt really mean â€Å"bless you,† it means â€Å"health†- the good variety being implied. Psychiatrists speak of Angst (fear) and Gestalt (form) psychology, and when something is broken, its kaputt (kaput). Although not every American knows that Fahrvergnà ¼gen is â€Å"driving pleasure,† most do know that Volkswagen means â€Å"peoples car.† Musical works can have a Leitmotiv. Our cultural view of the world is called a Weltanschauung by historians or philosophers. Zeitgeist for â€Å"spirit of the times† was first used in English in 1848. Something in poor taste is kitsch or kitschy, a word that looks and means the same as its German cousin kitschig. (More about such words in How Do You Say â€Å"Porsche†?) By the way, if you were unfamiliar with some of these words, thats a side benefit of learning German: increasing your English vocabulary! Its part of what the famous German poet Goethe meant when he said, â€Å"He who doesnt know foreign languages, doesnt know his own.† (Wer fremde Sprachen nicht kennt, weiß auch nichts von seiner eigenen.) Here are a few more English words borrowed from German (many have to do with food or drink): blitz, blitzkrieg, bratwurst, cobalt, dachshund, delicatessen, ersatz, frankfurter and wiener (named for Frankfurt and Vienna, respectively), glockenspiel, hinterland, infobahn (for â€Å"information highway†), kaffeeklatsch, pilsner (glass, beer), pretzel, quartz, rucksack, schnaps (any hard liquor), schuss (skiing), spritzer, (apple) strudel, verboten, waltz, and wanderlust. And from Low German: brake, dote, tackle. In some cases, the Germanic origins of English words are not so obvious. The word dollar comes from German Thaler - which in turn is short for Joachimsthaler, derived from a sixteenth-century silver mine in Joachimsthal, Germany. Of course, English is a Germanic language to begin with. Although many English words trace their roots back to Greek, Latin, French, or Italian, the core of English - the basic words in the language - are Germanic. Thats why it doesnt take too much effort to see the resemblance between English and German words such as friend and Freund, sit and sitzen, son and Sohn, all and alle, flesh (meat) and Fleisch, water and Wasser, drink and trinken or house and Haus. We get additional help from the fact that English and German share many French, Latin, and Greek loan words. It doesnt take a Raketenwissenchaftler (rocket scientist) to figure out these â€Å"German† words: aktiv, die Disziplin, das Examen, die Kamera, der Student, die Universitt, or der Wein.   Learning to use these family resemblances gives you an advantage when working on expanding your German vocabulary. After all, ein Wort is just a word.

Audit - Assurance - and Compliance Trimester

The company, Bio Sustainable Feeds Ltd of Australia Is mainly engaged in the research and development process related to different eco-friendly products including fish feed. So far the case study says, the engagement of Bio Sustainable Fish Feeds Ltd in the research of fish feed had faced early setback when their effort towards research of exploring new range of fish feed with the ingredients of earthly items like canola, corn, soya-bean, sunflower, etc. could not be able to produce desired result. To hour their effort with constant endeavor to excel in the field of environmental friendly fish feed had been recognized by Commonwealth Scientific and Industrial Research Organization or CSIRO by extending a grant of AUD 500 million with specific terms and conditions of spending the money in the activity of research on the eco-friendly fish feed  (Morgan, 2015). The company had engaged themselves with further research in this filed of fish feed by exploring the scope of deploying ingredients like wood chips, cane residue or captured methane gas from different sources, which had seen some success in the respective field in the context of feed products increasing the weight of the valuable fishes like salmon, tuna, trout with reasonable satisfactory standard. The respective company will undergo a audit program by a professional audit agency who will undertake the assignment after verifying certain issues like the detection of audit risk, the financial accounting documents and with the context of certification of the claim of the company related to their exclusive patent right and TBL as per GPFS of BSF ltd. As per the standard procedure, the audit firm has to set steps of audit before the assignment is to be started. There are different opinions of fixation of steps of audit for any assignment which is depending upon the volume of documents to be checked and assessing the gravity of the situation which is needed for concluding part through generation of audit report. Steps are basically framed in macro level with planning of audit, conducting audit and conclusion of the audit activity. These steps are divided micro level of activities to be compliant of audit purpose  (Asic, 2016). These steps will be discussed as follows to understand the utility of these steps and the respective outcome these steps can produce to make the final audit report for the stakeholders of the company. The basic requirements of an audit program is to be entertained with the steps of audit program and these preliminary steps are more essential to ensure the accuracy of the audit process and ultimately to provide with the best possible audit report to the process owner and other stakeholders of the company  (Penn, 2016). Planning of audit is divided into different micro aspects which are being appended below: To plan any audit assignment, first to derive by the auditor is to ascertain of the assignment is suitable for the auditors. The identity of an auditor for any assignment is unique and in any case auditor should not get involved with any such assignment which is of material interest. The auditor has to ensure that he is not at all attached to the company by any means with some material interest and except for the purpose of audit, the auditor should not get involved in any sort of such activity which is directing towards any sort of interest of the auditor with the company or any such activity which is related to company other than of audit process. It is also advised to introduce fresh personnel in the audit process to have fresh outlook on the process  (Penn, 2016). To ensure the above point, the auditor and his team should involve themselves in the derivation of the size of the audit process along with the scope of the audit work. To ensure this, there should be an homework to ascertain how the members of the audit team will get involve in the process with the specific time limit to be fixed related to this assignment.   Also it is to be noted if any special investigation is to be done any specific issues which is related to work-intensive. These elements can make the leader of the audit team about fixing the number of team members for successful completion of audit assignment  (Acca, 2016).  Ã‚   Prior to staring the audit process, the team leader should assess the probable areas which may produce potential mistakes which will be caused due to misstatement in the reports of financial accounting system of the company. The right spade of ding this is the highly professional and experienced background of the team leader. This identification process can be done though the knowledge of the company with the past financial statements and as because this is of subjective nature; the team leader should depend upon his self-judgment.   Post the introductory assessment, the auditor has to fix the strategy of undertaken audit assessment by segregating different activities to be done which should include identifying the critical area of interests depending upon which the task assignment is to be made with the factor of time limit by which the job is to be done  (Asic, 2016). It is the execution part of the audit assignment which includes different micro activities like advance intimation, verification of concerned documents, like financial accounting statement and relevant documents, compliance of statutory obligation, reviewing of the audit process and making of draft audit report. It is the first step of conducting audit to place the intimation to the company in which the audit process is to be taken care. The intimation should be in black and white and will contain the start date of the audit process with proposed completion date,   checklist of documents and records pertaining to the financial accounting to be made available for the purpose of audit, well in advance for the period specified for which the audit process will take place  (Mediacongo, 2015). The basic criterion of any audit process is to ensure proper verification of financial accounting documents and records in the form of receipts, payments and the respective entries in journal and ledger. The main job of auditing is to verify the documents provided by the company with proper checking. The documents such ought to be verified are statements, registers and records. While checking the application of mind with the professional knowledge is required for checking and subsequent derivation of judgment. The documents and records are to be substantiated with the respective journal and ledger entries which are instrumental for the process of finalization of accounts; hence this is the most discrete part of the entire audit operation  (Mediacongo, 2015). The statutory obligations for any company arise from the implication of several taxes payable by the company through the generation of business. It is the obligatory part of the company to ensure the payment of taxes and other statutory compliance within specified period; otherwise the company will face liability by penalty and interest, being a defaulter. Hence it is one of the important areas to find out by auditor that the compliance in the said field is properly ensured by the company.   After the audit is over, the generation of financial review report is compulsory with the view of the auditor. The same report is to be forwarded to the management of the company for required clarification in different issues which are found not abiding by the system and the process of the company. Post all these activities, the auditor has to furnish the recommendation which will guide the company to make their strategies to be reviewed or fixed as per the constitution of the company. Violation on any issues must be highlighted with the preferred recommendation of the auditor to get rid of such instances. After all activities related to audit process is over, the auditor ahs to handover the necessary copies to the respective stakeholders with signature. The report is to be signed by the director of the company simultaneously as a token of acceptance of the facts revealed in the audit. With all the above steps to be completed, the audit process comes to an end for any specific financial period of the company concerned. The audit report will be elementary for the company to find out the lacuna of the system adopted by the company with clear and transparent recommendation to avoid those in future so far accounting standard is concerned. When the auditor will take the assignment of BSF Ltd. Preferably these steps will be adopted for a professional audit of the company. Audit risk is a regular feature for determining if the assignment is to be taken or not. There are three types of risks prevalent in this segment- inherent risk, control risk and detection risk. It is that type of risk which is inherent in nature within the culture of the company due to misstatement of subject appearing in the financial statement of the company. Inherent risk is featured in the high range where it s found that high level of judgment is involved to encounter complex transactions observed in the process  (Accounting-simplified, 2010). This risk is generated from the activities which are arising out of the lesser –practice of internal control which subsequently leaves the scope of high level of material misstatement. To mitigate control risk, high level of multi-layer internal control check is to be implemented with the professional knowledge in the respective field of accounting and finance. This risk arises when the auditor can not detect the focus area and put highlight on the areas which are not so important, and at the same time ignoring the areas which are of more importance is status. This situation arises when the auditor is getting confused with the issues arising during the process of audit  (Unifr, 2016). The acceptable model of risk assessment determination is practiced with the below formula:- Audit risk= Inherent risk x control risk x detection risk   In this case the assumed audit risk is derived with the coefficient provided in case of BSF Ltd.:- Inherent risk = 90%, control risk =5% and detection risk = 80% Thus audit risk derived is = 90% x5% x 80% or 0.036 This audit is risk is reasonable, if the audit firm is accepting. Otherwise the audit firm has to follow the specified benchmark they follow for derivation of audit risk  (Unifr, 2016). Following is the audit program for BSF Ltd.: The Assigned audit firm has to assess the audit risk and then serve a notice to the management of BSF Ltd with the time limit and the requirement of the financial documents of BSF Ltd. along with acceptance of the assignment. To start with the process, schedule of audit is to be made containing the detailed program and the time limit with assigned members of the audit team. The plan of audit is the next step which should emphasize on the objective, scope and detection of critical area of the audit to be made on BSF Ltd. Management of audit process is the most vital step of audit program which is the responsibility of the team leader who will concentrate on the schedule and ensure compliance of audit plan. Submission of the draft audit report to the management for further discussion on the gray areas of observation is the next step with highlighting the discrepancies found during the course of audit(Cag, 2011).    Spent on research 1 st installment   Expense on procurement of fixed assets for research   Spent on research 2 nd    installment   Spent on research 3 rd and final   installment Observations of the journal entries related to CSIRO grant and R & D expenses: CSIRO grant had been booked properly in the books of financial accounting. R & D expenses are booked as per expenses made with the conditions applied as per CSIRO TBL or Triple Bottom Line concept endorses the concept of compliance of any organization by exposing their concern about social environmental and economical bottom line. As per BSF Ltd. they are claiming their compliance of TBL through GPFS and they need the certification of the same from the auditor. So far their activities of research with the eco friendly ingredients are proved, and with their endeavor to serve the society through their efforts they are substantially comply the same along with the economic bottom line of profit generation. Hence the claim may be certified with true and fair observations from the auditor. It is found that BSFR had acquired the patent of the product which is the result of their effort exploiting the environment friendly bacterial based resource. Their patent is being allowed on the subject with the product they have explored. But the entire field of bacterial based feeds technology can’t be their claim area as patent. Hence the claim such placed may not be allowed by the auditor keeping in mind the said factor of covering entire range of that technology  (Acca, 2016). Acca. (2016, May 31). Planning an Audit of Financial Statements. Retrieved September 22, 2016, from accaglobal: https://www.accaglobal.com/in/en/student/exam-support-resources/professional-exams-study-resources/p7/technical-articles/audit-financial-statements.html Accounting-simplified. (2010). Audit Risk Model Inherent Risk, Control Risk & Detection Risk. Retrieved September 20, 2016, from https://accounting-simplified.com/audit/risk-assessment/audit-risk.html Aicpa. (2006). Audit Risk and Materiality in Conducting an Audit. Effective for audits of financial statements for periods beginning on or after December 15, 2006. Earlier application is permitted; https://www.aicpa.org/Research/Standards/AuditAttest/DownloadableDocuments/AU-00312.pdf , 47 (107), 1647-1662. Asic. (2016). Are you a large or small proprietary company. Retrieved September 17, 2016, from https://asic.gov.au/regulatory-resources/financial-reporting-and-audit/preparers-of-financial-reports/are-you-a-large-or-small-proprietary-company/ Cag. (2011, March 31). Audit Plan. Retrieved September 22, 2016, from Cag: https://dgace.cag.gov.in/pdf/AMG-III-Audit-Plan.pdf Mediacongo. (2015, April 15). ToR Audit BSF-IA Final. Retrieved September 17, 2016, from mediacongo: www.mediacongo.net/docs/jobaof/2015/wv_tdr_anglais_20150418.docx Morgan, H. (2015, December 07). CSIRO fund to support Australian start-ups. Retrieved September 22, 2016, from Csiro: https://www.csiro.au/en/News/News-releases/2015/CSIRO-fund-to-support-Australian-start-ups Penn, S. (2016). Six-Step Audit Process. Retrieved 09 17, 2016, from https://smallbusiness.chron.com/: https://smallbusiness.chron.com/sixstep-audit-process-17816.html Unifr. (2016). Risks (Audit Risk Formula). Retrieved September 20, 2016, from https://www.unifr.ch/controlling/assets/files/Noesberger2016/3-audit-risk-formula.pdf With a decade's experience in providing essay help,

Chose one of the topics from the attachments Essay

Chose one of the topics from the attachments - Essay Example Of course, one needs to be apprised of any eminent negative effects that these social networking sites present to current and potential users. In this regard, the essay hereby aims to persuade the readers that using a social networking Web site has both positive and negative effects on relationships that should be evaluated to increase awareness on the most appropriate course of action regarding its continued use. Solis (2011) has recognized the significant and crucial impact that social media has impacted on today’s generation. As emphasized, â€Å"social media is pervasive and it is transforming how people find and share information and how they connect and collaborate with one another† (Solis, 2011, par. 1). The article written by Horn (2011) revealed that â€Å"social media is one of the most popular and fastest growing mobile activities, reaching nearly one third of all U.S. mobile users† (Horn, 2011, par. 4). The Technolog article, on the other hand, entitled â€Å"Older adults are flocking to social networks† has disclosed that â€Å"social networking use by Internet users ages 50 and older nearly doubled in the past year, going from 22 percent in April 2009 to 42 percent in May 2010† (Technolog, 2010, par. 1). These statistics prove that social networking in an increasingly popular trend that has enticed various users from a wide range of age groups. The reasons why social networks have been seen as beneficial to users are as follows: (1) easy access to information on general issues, social relationships and other current events; (2) cheap and convenient as current and updated information are readily available 24/7; (3) â€Å"social media makes you travel the world without even leaving your chair†¦indicating that no matter what kind of business it is, the use of social media is essential in order to gravitate products to the