The Past Five Years Auditing - 1199 Words

Independence Over the past five years auditing VHL I have developed close friendships with some board members who are responsible for maintaining internal controls and financial operations in the organization. As a CGA I am bound by CEPROC, which states that I must remain independent in appearance and fact in order to provide an unbiased objective opinion. I feel these relationships, and the length of time I have audited VHL, could lead to a familiarity threat that would inhibit my ability to apply professional skepticism and jeopardize the audit. Due to the level of influence the board has over the organization and the finances it is unlikely that acceptable safeguards could be applied, therefore I must decline to continue any further with this audit, and request someone else assume my role. Segregation of Duties In a not-for-profit organization, such as VHL, with limited financial resources there is a higher risk that segregation of duties will be compromised as employees often hold multiple roles and responsibilities, as is the case with the accounting functions at VHL. With only one accountant responsible for deposits, custody, disbursement of funds, maintaining financial records and preparing financial reports it raises the risk for potential material misstatement due to error or fraud. This could erode the trust and confidence the stakeholders have in VHL and their stewardship of contributed resources, possibly impacting future donations. This must be taken intoShow MoreRelatedCase1.1 Enron Corp843 Words   |  4 Pagesparties are most responsible for the â€Å"crisis of confidence† on the part of the public in the accounting profession as following. †¢ The parties who create these auditing standard rules, such as SEC, Auditing Standard Board. They should publish the Sarbanes-Oxley Act earlier. They should be considered the non-auditing services for auditing clients is a serious issue earlier. †¢ The auditors of the Andersen firm. They didn’t do their responsibility and didn’t follow professional standard ruleRead MoreAuditor’s Responsibilities in Fraud and Error Detection1159 Words   |  5 PagesAuditor’s Responsibilities in Fraud and Error Detection Auditing October 17, 2011 Auditor’s Responsibilities in Fraud and Error Detection In recent years, scandals such as Enron and WorldCom have not only brought up the question â€Å"Where were the auditors?,† but have also brought to our nation’s attention that auditing of public companies must be done with more precision and must have guidelines on the proper way to account for different items. Fraud, illegal acts, and errors happen every dayRead MoreENRON Case Study1572 Words   |  7 Pagesuse these fraudulent statements for 15 years. It is the auditor’s responsibility to question any unusual circumstances and reports and they failed to do so. They should have questioned the SPEs, should have noticed that notes receivable were reported wrong, and should have noticed that there was no internal control being practiced. Also, Anderson should never have practiced consulting services for a company that they audited. 2. Identify and lists five recommendations that have been made recentlyRead MoreFeb 10 Hamilton Case1628 Words   |  7 Pagesconfirmation, overconfidence, and anchoring. In this memo I will explain each of the four tendencies, talk about which tendency I believe to have manifested in the Hamilton case, clarify issues relating to auditing the warranty reserve and describe the alternatives that should be considered in auditing the warranty reserve, and finally provide factors that should be considered in reaching a final conclusion. The Availability Tendency The availability tendency is when decision makers only consider informationRead Morecase 1 Essay758 Words   |  4 Pagesto their audit clients in recent years. For each item, indicate the specific threats, if any, that the provision of the given service can pose for an audit firm’s independence. In the recent years, auditing firms provides the following consulting services to their clients: a. Internal auditing b. Design of accounting systems c. Various types of Information Technology (IT) services 2. Briefly describe the key requirements included in the professional auditing standards regarding the preparationRead MoreCase Study : Phar Mor s Assets787 Words   |  4 Pageslater claim prevented them from detecting the fraud. Notably, a highly material settlement with Tamco, a related party, over inventory shortages was largely ignored. The auditors should have performed a review for related-party transactions at year-end that may have uncovered some of the transactions. Inadequate disclosure of related-party transactions is one of the most serious of financial statement frauds. It is also one of the most difficult to detect. Phar-Mor easily skirted the annualRead More Sarbanes Oxley Act of 2004 Essay1713 Words   |  7 Pagessections. Title I is Public Company Accounting Oversight Board. It created a five member panel known as the Public Company Accounting Oversight Board, overseen and appointed by the Securities and Exchange Commission (Sarbanes-Oxley). The Board is to consist of two CPAs and three people that are not CPAs, but the chairman must be a CPA. The Board is to provide oversight of auditing of public companies while establishing auditing, quality control, independence, ethical standards (Arens 32-33). Public accountingRead MoreFraud Cases: Violations of Generally Accepted Accounting Principles (Gaap)1112 Words   |  5 PagesAccounting Oversight Board (PCAOB) made it clear that detecting fraud must be the focus of the audit process. Consider that in the board’s first internal control standard (Auditing Standard No. 2), fraud was mentioned 76 times. The PCAOB has continued its emphasis on detecting fraud in its revised internal control standard, Auditing Standard No. 5. As their fundamental responsibility, financial statement auditors must determine whether economic transaction activity has been accounted for by the auditRead MoreFraud Cases: Violations of Generally Accepted Accounting Principles (Gaap)1097 Words   |  5 PagesAccounting Oversight Board (PCAOB) made it clear that detecting fraud must be the focus of the audit process. Consider that in the boardà ¢Ã¢â€š ¬Ã¢â€ž ¢s first internal control standard (Auditing Standard No. 2), fraud was mentioned 76 times. The PCAOB has continued its emphasis on detecting fraud in its revised internal control standard, Auditing Standard No. 5. As their fundamental responsibility, financial statement auditors must determine whether economic transaction activity has been accounted for by the auditRead MoreThe Sarbanes Oxley Act ( Sox ) Essay1233 Words   |  5 PagesAccording to Pompper (2014), â€Å"incidents of hig h-profile deception over the past† four decades â€Å"have threatened the reputation of the †¦ accounting function† (p. 131). For instance, an investigation was conducted into the financial audit and reporting process after the savings and loan banking crisis in the 1980s (Pompper, 2014). In addition, the criminal convictions of executives and bankruptcies of Fortune 500 companies such as Enron and WorldCom in the turn of the century motivated Congress to

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Hamlet By William Shakespeare An Insight Into Human...

Hamlet is one of the key plays that gives the audience an insight into human character. Shakespeare chooses to focus on the influence of people’s emotions on their actions, rather than their rationality. In the play, the melancholic prince, Hamlet, chooses to revenge on his uncle for having murdered his father in order to assume the throne and marry Prince Hamlet’s mother. Although the plot is simplistic, it shows how Hamlet undergoes considerable emotionality before exacting his supposed revenge. Traditionally, Hamlet is characterized by audiences as a hero because of the sympathy that his situation attracts. However, a deeper analysis reveals Hamlet as a selfish and immature person whose death is necessary in order to bring direction to existence. To begin with, Hamlet faces significant difficulties that ignite to question life and seek to understand death as well as human character. When he learns of the ghost’s message, he is surprised at the selfishness and materialism that can overwhelm a person. One thing that the audience instantly notices about Hamlet is the idea that he chooses to make people focus on external things other than himself. In this sense, it becomes difficult to learn of his inverted immaturity. Unlike other characters who interact at the human level, Hamlet is indifferent to the existence of other things apart from his intellect. Such indifference shows when Hamlet meets Horatio. Even though Horatio is a hearty person, Hamlet confronts him with hisShow MoreRelatedThe Plays of William Shakespeare681 Words   |  3 PagesShakespeare’s Plays William Shakespeare, a British playwright and poet, is born in 1564. The exact day is not known. Shakespeare is baptized on April 25, so they say his birthday is April 23, 1564 (Boyce, Shakespeare). As an infant, he survives the plague that kills tons of people living near him. He is the son of John and Mary Arden Shakespeare. â€Å"His father is a prosperous and prominent tradesman, bailiff, and alderman, who suffered a decline in fortune and prestige† (Burt, Shakespeare). His father ranRead MoreWilliam Shakespeare s Hamlet 1077 Words   |  5 PagesPsychology is a combination of studies regarding human behavior and mental characteristics observed within all individuals. Author’s such as William Shakespeare have 4dictated their works in a way that allows for them to integrate common occurrences of new psychological findings into a text, giving them an opportunity to sculpt characters that differentiate themselves from one another. Psychoanalytical Criticism is the a pplication of psychological studies incorporated into the findings of contemporaryRead MoreHuman Nature in a Shakespearean Play1446 Words   |  6 Pagesguess—that we will always learn more about human life and personality from novels than from scientific psychology† – Noam Chomsky The audience in a play is the most important aspect because of each individual’s interpretation and point of view. While an author or playwright may have certain themes or things to be reflected in the play, that may not always happen and several plays often have several meanings or theme. A play written by William Shakespeare has stood the test of time and sparked manyRead MoreFactors Contributing to Shakespeares Hamlet Being a Great Play1203 Words   |  5 PagesShakespeares Hamlet Being a Great Play William Shakespeares Hamlet, through the heroism and nobility of its hero, his superior power of insight into, and reflection upon, his situation, and his capacity to suffer the moral anguish which moral responsibility brings, is considered one of the greatest pieces of literature ever written. Throughout the play, Hamlet, through both soliloquies and actions, displays these characteristics, which make Hamlet suchRead MoreHamlet And The Basic Human Need For Truth1478 Words   |  6 PagesHamlet and the Basic Human Need for Truth Marcus Aurelius is quoted as saying, â€Å"Everything we hear is an opinion, not a fact. Everything we see is a perspective, not the truth.† This idea is examined in William Shakespeare’s Hamlet, a play full of warmly delivered lies and completely intentional deceit. Hamlet himself shows how a life full of lies and deceit breeds a desire for something real. In the beginning of the play, authenticity is introduced as a rare trait and the Ghost reveals treacheryRead MoreEssay on Perception of Women in William Shakespeares Hamlet1309 Words   |  6 PagesWomen in William Shakespeares Hamlet In Hamlet, Shakespeare carefully represents Getrude and Ophelia. Individually, Gertrude is essentially seen as weak and immoral whilst Ophelia is seen as meek and a victim of society. Collectively, they are seen to fulfil a conventional 16th century role, and it is as our beliefs and views of women change that we are able to perceive the characters in a different angle. At the beginning of the play, we get a very biased insight intoRead MorePerfect Idealism In Shakespeares Hamlet1631 Words   |  7 PagesIntroduction The play Hamlet is a fable of how the ghost of a slain king comes to haunt the living with disastrous consequences. A rancorous ghost and a brother s murder, lead the gloomy setting of Hamlet s Denmark. Hamlet story opens with an encounter between young Hamlet, his dad s ghost as well as the prince of Denmark. The ghost reveals to Hamlet that its murderer was his brother Claudius, who then rapidly wedded his widowed queen, Gertrude. As a result, the ghost presses Hamlet to seek vengeanceRead MoreHamlet1304 Words   |  6 Pagest With underlying themes of revenge, incest, and suicide, William Shakespeare’s Hamlet was remembered by many Elizabethan Era viewers as both a philosophical and oft-debated masterpiece (Dickson). These controversial themes attracted viewers everywhere, enticing them to see the play. One scene in particular from the original text of the play where this proves true is act IV, scene iv, lines 31-65, in which the titular character Hamlet decides that the time for revenge is at hand in an insightfulRead MoreEssay on The Character of Hamlet in William Shakespeares Play1618 Words   |  7 PagesThe Character of Hamlet in William Shakespeares Play Some critics have stated that the appeal of Hamlet to the audience is his many human weaknesses, the most notable being his indecision. His deliberations and procrastinations are particularly high-lighted when he is faced with the task of revenge. The law and Christianity, around the early seventeenth century, were clear in condemning personal revenge as an attempt by man to arrogate the prerogatives of God. Hamlet’sRead MoreThe Characterization Of Hamlet By William Shakespeare1009 Words   |  5 PagesHamlet’s (1601) theatrical power propagates from its timeless rendering of the human condition. William Shakespeare illustrates a sympathetic protagonist caught between the tensions of Renaissance and traditional ethics, who suffers due to the fundamental ignorance of individuals to the truth by the facade of deceit and theatricality. Correspondingly, director and critic Nicholas Hytner summarises, â€Å"†¦at the center of the play is a man desperately concerned with the nature of truth and desperately

Work and Organization Employee Engagement

Question: Discuss about theWork and Organizationfor Employee Engagement. Answer: Change in Workforce and its Impact on Employee Engagement: Workforce can be defined as the labor force or the pool of people that are available or already engaged in some of the work in the country. There are various factors that can contribute in farming the workforce composition (Macey, Schneider, Barbera and Young, 2011). The age, demographics, sex etc. are some of them that have greater impact on the workforce and its characteristics. The labor force or the supply and demand of labor in the market is also driving force that changes the workforce composition of any of the country. As far as Australia is considered, there are many changes that have been observed in the workforce composition of the country since years. Some of the occupations that were existed in 1990 are not present today and thus the workforce does not engage in such jobs in recent times. The three main shifts in the ages, demographics and the gender made modifications in the workforce composition in Australia (Chao L. E., 2014) The shift that has been observed in the wor kforce composition is modern in nature. Rate of unemployment in Australia is decreasing day by day; this is because more and more of the Australian population is getting engaged in the jobs. The changes in the unemployment rate of Australia also affect the changes in the labor market. The people who are not engaged in work earlier are also working these days. The most important change that have been observed in the workforce composition in Australia as well as in world are related to engagement of females in most of the jobs and rise in employment to population ratio. This suggests that more and more women are focusing on leaving their houses and doing some kind of corporate jobs in Australia and in world as well as the number of employed people is also increasing with respect to the population of the country (James, McKechnie and Swanberg, 2011). It is not only the changes in the demography that is affecting the workforce but the external environment changes are also affecting the workforce in the organization these days. Earlier the workforce that works in the organization was stable in nature. The employees used to be loyal with the organization and stick to the one they work with. In recent years, the concept of full time roles of the employees has been lost (Stone, 2013). People work on contract basis or part time basis. The advancement in technology allows the employees to work from home and thus creates flexibility for the employees to work. The changing workforce affects many factors in the organization such as its motivational policies, employee engagement policies, leadership and organizational structure etc. The changes that occur in the workforce composition affect the engagement of the employees in the organization. Employment life of the employees has different stages and at these different stages they have differed perception and level of involvement towards their work (Cummings and Worley, 2014). At younger age of the working life, the employees have less attachment towards their job the organization and thus they never try to engage in the activities of the organization. On other end, organization also does not involve the new employees who are not found to be responsible enough in the decision-making process. This is because they will never make any relevant argument and thus waste the time and resources of the organization. However, analyzing the change in the workforce is the sign that organization need to make more efforts towards employee engagement (Bridges and Bridges, 2017). This is because; it is the era of Job hopping. The employees are hunting for new jobs now and then t hat can provide them exposure to new technology and environment. Today, employees do not believe in staying in a company for so long thus it require the organization to create an environment that forces the employees to stick to their organizations only. This develops the need of more employee engagement strategies in the organization. Some of the strategies that have been required to be implemented in order to engage the employees are growth opportunities, involvement of employees indecision making processes, providing the employees with the culture of learning in the organization so that the employees can learn more and more thing in the same organization without switching their jobs (Ng, Lyons and Schweitzer, 2012). Developing team work in the organization is also a strategy that helps in engaging the employees. This is because collaborative approach of working provides an environment of learning and developing skills at personal and professional level. This development for the young employees is very important so that they can improve their communication skills along with their technical skills (Espinoza and Ukleja, 2016). To summarize, it can said that there are various changes that has been occurred in the workforce from inception to present. Changes such as involvement of female workers, changing in the needs of the employees, generation of part time job concept etc. have been observed in the recent years workforce composition. As the employees work at contractual basis, so they have the opportunity to move to the other organization very easily and most of the times the present organization fails to retain the talent with them as other organization or the competitors try to acquire the talented employees (Podsiadlowski, Grschke, Kogler, Springer and Van Der Zee, 2013). These changes should be analyzed by the management of the organizations and thus they have to make efforts in implementing the strategy that can help in engaging more and more employees to the organization for long time. Employee engagement is more necessary for todays workforce because they are not that much loyal to the organization and always ready to switch their jobs in greed of higher package and more exposure (Vance and Paik, 2015). The mangers need to create that learning environment and growth opportunities in the firm so that the employees can remain in the same organization for long. References: Bridges, W. and Bridges, S., 2017.Managing transitions: Making the most of change. Da Capo Press. Chao L. E.,2014. 21st Century Workforce: Change, Challenge Opportunity, Notre Dame Journal of Law, Ethics Public Policy, vol. 20(2), pp.785-790. Cummings, T.G. and Worley, C.G., 2014.Organization development and change. Cengage learning. Espinoza, C. and Ukleja, M., 2016.Managing the Millennials: Discover the core competencies for managing today's workforce. John Wiley Sons. James, J.B., McKechnie, S. and Swanberg, J., 2011. Predicting employee engagement in an age?diverse retail workforce.Journal of Organizational Behavior,32(2), pp.173-196. Macey, W.H., Schneider, B., Barbera, K.M. and Young, S.A., 2011.Employee engagement: Tools for analysis, practice, and competitive advantage(Vol. 31). John Wiley Sons. Ng, E., Lyons, S.T. and Schweitzer, L. eds., 2012.Managing the new workforce: International perspectives on the millennial generation. Edward Elgar Publishing. Podsiadlowski, A., Grschke, D., Kogler, M., Springer, C. and Van Der Zee, K., 2013. Managing a culturally diverse workforce: Diversity perspectives in organizations.International Journal of Intercultural Relations,37(2), pp.159-175. Stone, R.J., 2013.Managing human resources. John Wiley and Sons. Vance, C.M. and Paik, Y., 2015.Managing a global workforce. Routledge.

Multinational Corporations Compliance with Host Countries Laws

Introduction The success of multinational corporations depends on their strategic plans and moral practices that they put into consideration. It is also dependent on how well they are armed to maintain appropriate social responsibility ethics in their host countries.Advertising We will write a custom essay sample on Multinational Corporations Compliance with Host Countries’ Laws specifically for you for only $16.05 $11/page Learn More Additionally, the corporations are not only founded on their home country policies, but also on those of the host countries into which they operate. It is also essential to note that, since every country around the globe usually has a set of rules that govern its people as well as its existence, these corporations must comply with these laws with no compromise. Falkenberg (23) addressed this idea in the article â€Å"When in Rome† to portray the seriousness of the matter, since it is not possible for one to go into a neighbor‘s premise and become the ruler, but has to respect him in order to promote peace. At the same time, philosophers, ideologists, and researchers have seconded the various criticisms that have been put forward about the multinational corporations. They are said to have impacted negatively on the host countries due to their lack of respect for the rights of the counties’ citizens, and that they are always out to please their stakeholders. Falkenberg suggests that appropriate business ethics and morals are a key to the success of multinational corporations in their host countries. More over, the corporations must play a role in promoting social welfare of the host countries, for their own advantage, as well as for the purpose of fostering change in the host country (Falkenberg, 22). This paper seeks to establish the fact that corporations operating in the global context have a responsibility to comply with the laws of their host countries. Additionally, it w ill also give an overview of some of these obligations that host countries have put in place that require compliance by the corporations. More over, the paper will seek to find out the social responsibilities that these corporations operating in the global context have in the host countries. Furthermore, it is essential to provide an argument comparing the distinct conceptions that different commentators have put across in the years concerning business ethics of these corporations in the host countries as they conduct their activities. Finally, the paper will briefly explain the concept of Multinational Corporations’ compliance with the host countries laws (Carroll, 37). Multinational corporations A variety of definitions have been put forward to explain the meaning of multinational corporations, but in my opinion, multinational corporations are those that have successfully expanded to provide their services to more than one country in the world.Advertising Looking for e ssay on business corporate law? Let's see if we can help you! Get your first paper with 15% OFF Learn More They may also be multinational in their responsibility to run production or manufacture of certain goods in various countries. Mainly, the headquarters of such organizations are usually located in their home country, i.e., the country of inception of a corporation, plus other sub-units in several other countries, referred to as hosts. Some multinational companies have expanded to operate globally when supplying their good or services. Therefore, these large corporations often have great impacts in both their mother and the host countries. For instance, some have the ability to influence the economies of the local country, or even the economy of the whole world due to their large sizes. More over, they are well known for having a great influence on globalization and in some way enhance international relations in their countries of operation. However, as the corporation s operate across the globe, appropriate business and relationships ethics have to be applied under all circumstances to overpower the numerous criticisms that have brought down their operations in some cases. The criticisms emanate from the fact that proper business ethics have not been maintained on various occasions, human rights have been at times violated and small and medium enterprises have been observed slowly diminish on the emergence of multinational corporations. Host country’s obligations and laws Host countries in the context of the multinational corporations are those into which branches and sub-branches of the multinational corporation are located. Obligations are a requirement that have been put across by the government in order that whoever comes into that country has to observe carefully. Laws are a set of regulations that are usually documented in a country by its government, such that everyone, whether a citizen or a visitor of any kind must comply with. Th us, every country in the world has its laws that it requires complied with, regardless of a person’s status or class. In their operations, most corporations that operate globally have a tendency to neglect some of these laws as critics have suggested. A number of common laws are in operation in most of the host countries. First, as Donaldson (Para 2) points out in his context of â€Å"Rights in the global market†, multinational corporations are merely obligated to respect and take part in protecting the human rights in their areas of operation.Advertising We will write a custom essay sample on Multinational Corporations Compliance with Host Countries’ Laws specifically for you for only $16.05 $11/page Learn More However, sometimes this has been like a nightmare, since the same corporations have been found to paralyze these fundamental human rights, which is very wrong. Additionally, Falkenberg (19) has pointed out that multinational corporations must comply with the business rules and ethics that have been documented in a country’s laws, when he uses the analogy of â€Å"When you go to Rome.† In my opinion, he was out to say that one should obey the business culture and ethics of a host country, and not trying to change them to fit their interests, since this has resulted in a total change of many countries’ direction. More over, the ethical theory of business proposed by Beauchamp and Norman (3) identifies the extent to which a corporation should relate with a host country in terms of ethics and at the same time, take care of the laws of the country. Many countries do document their laws, to an extent that any person who goes against them should be subjected to a court of law to answer the misconduct. More important, the corporations must always be keen to safeguard the corporate social responsibility in the host countries, to leave it a better place than they found it (Beauchamp and Norm an, 13). Nevertheless, other East African countries have documented strict laws that the multinational corporations cannot be able to meet. Secondly, the cultures of different countries differs distinctly, a factor that sometimes makes it hard for global relations to work properly. Therefore, it is considered essential if the host countries and the corporations should device a suitable framework that is ample to enhance social relations. Frederick Robert in his article about† finding the middle ground† argues about appropriate moral ideals, which would be acquired through building appropriate moral frameworks across the globe. More over, he suggests the construction of pluralistic relativism as an ample moral ground for enhancing good social relations. Social responsibilities of multinational corporations operating in a global context The multinational corporations are always valued as vehicles for social responsibility that is corporate in all ways. The article of Arnol d addresses on the issues of corporate responsibility and capitalism. In order for a positive move of a corporation, the idea of caring for the society in terms of its rights should be put into consideration. One, the corporations should maintain transparency as much as possible in order that the society of the host country may trust them. Many corporations as Ensign (56) suggests have all along ruined their relations with the host countries because of operating in corrupt manners just for self-gain.Advertising Looking for essay on business corporate law? Let's see if we can help you! Get your first paper with 15% OFF Learn More Donaldson (Para 3) in his literature expresses his feelings to those corporations that are out to involve themselves in corrupt deals in order to carry out successful business operations. A number of researchers have always considered transparency as a key to business success in all aspects. Transparency is essential for a successful business operation since it promotes the sense of accountability, not only within the organization, but also in the global context. Moreover, the multinational corporations have a social responsibility to promote global human rights. Human rights are a key concept in the globalization and international relations, thus, the multinational corporations should be in the forefront to fight against the violation of human rights. Along the business operations of the multinational corporations, the management of multinational corporations should lay down strategies that would spearhead in campaigning for respectable human rights in their host countries. However , at the same time, the host countries should also regulate their laws strategically in order that all multinational companies can be able to fulfill the required laws (Donaldson, Para 2). On the other hand, multinational corporations’ management should develop a caring heart towards other primary and small enterprises in the host countries. Many corporations have always been out for self-gain and in the willingness to suppress other small enterprises in order to build their own fame. Beauchamp’s theory of ethical global operations suggests that failure in small and medium enterprises in most countries emanates from lack of support by the multinational corporations. Thus, the corporations need to embark on promoting other small enterprises, in order to foster a spirit of unity among business organizations (Ensign, 45). A comparison of different conceptions about multinational companies’ social responsibility There have been different conceptions about the social responsibility of multinational organizations in their host countries. Arguments have been put across suggesting that the corporations have a responsibility to comply with the rules that govern a particular country. Other critics have considered it better if the corporations are obligated to promote human rights across the globe, while others still feel that the best thing for them to do is to promote other small businesses that are in the host countries. Donaldson (Para 7) strongly feels that the human rights have been solely violated in all aspects, and therefore, rules should be put in place concerning violation of human rights by the corporations as they conduct business. However, in all of the articles herein discusses by various personnel, the conception of the compliance with the laws of host countries is highly valued. Carroll (125) writes about ethical considerations in business and suggests that we should consider the present and the future challenges. The conception surp asses the other two in the fact that, if a corporation would stand the challenge of complying with the laws of a host country, it is easy for it to respect the human rights. At the same time, it is possible for multinational corporations to support small business if a law is documented for them to do so in the host countries. Thus, the corporations should be ready to comply with laws that have been set in the host country (Beauchamp, 73). Conclusion Multinational corporations have tremendously increased in numbers over the years, and have at all times been successful. However, it is needful at such a time to think critically about how well their relations have been with their host countries. The issue is not how they conduct their businesses or how much profits they make over time, but what their social impacts in both their home and host countries are. Are they just out for personal gain without considering their neighbors? Such have been the questions put by critics who have stron gly felt that the corporations have neglected the social roles that they are supposed to carry out but to no avail. In my opinion, some corporations are always out for personal gain as well as to maximize the available opportunities for maximum profits, and do not care their reputation in their host countries. This is the reason why many theorists have to tire putting forward theories that explain why multinational corporations do not comply with countries’ laws. More over, most of them have a very great influence in the government policy in many countries, a factor that contributes to them frustrating many citizens, who in the end develop a negative attitude. Donaldson on his writing is concerned about human rights, where he ends up listing them one by one. As other critics, he argues that the multinational corporations have neglected the human rights issue which should be one of their major area of concern, thus it is important that the corporations’ management retra ce their lost steps in order to comply with some facts that are more meaningful than business itself. Furthermore, the moral grounds that are considered right should be constructed to enhance good social relations. The conception of the corporations being obligated to comply with the host countries’ laws surpasses the others, since compliance to the laws will entail complying with every other item. The objective of the paper was achieved and therefore, â€Å"the multinational corporations should be urged to comply with host countries’ laws,† both for their sustainability in business and to ensure their participation in promoting social responsibility as well as pluralistic relativism. Works Cited Beauchamp, Tom and Bowie, Norman. Ethical Theory and Business. NY: Prentice Hall Humanities/Social Science publishers. 1997. Carroll, Archie. Managing ethically with global stakeholders: A present and Future challenge. Academy of Management Executive. 2004. Web. Donalds on, Thomas. Rights in the Global Market: Ethics and multinational corporations. NY: Sterling Publishing Company. 1990. Web. Ensign, Prescott. International Business Gestion International. Volume 27. Ottawa: University of Ottawa books center. 2006. Falkenberg, Andreas. â€Å"When in Rome: Moral Maturity and Ethics for International Economic Organizations.† Journal of Business Ethics, Volume 54. Kluwer academic publishers, Netherland. 2004. Web. This essay on Multinational Corporations Compliance with Host Countries’ Laws was written and submitted by user Jenn1ferSm1th to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Top 10 ACT Reading Tips Use These and Improve

Top 10 ACT Reading Tips Use These and Improve SAT / ACT Prep Online Guides and Tips If you’re taking the ACT and find the Reading section to be a challenge, you’re probably looking for some quick ways to improve your scores. Well, you’re in luck. Here are our top 10 tips for acing the ACT Reading section! Tips for Reading Passages Tip #1: Start with Your Most Comfortable Subject Matter The structure of the ACT Reading section is very consistent.There will be fourtopic areasin the same order every time: Prose Fiction/Literary Narrative, Social Science, Humanities, and Natural Science.If you know that one or two of these will be easier for you to get through based on your interest in the subject matter, you should target those ones first. If, for example, you're more of a science person and end up running out of time on the last passage, you could be missing out on some easy points.Instead, you should skip straight to the subject where you're most comfortable. That way you know you’re getting the most out of your reading section score. Tip #2: Skim the Passage First (Or Skip Straight to the Questions) It’s not necessary to read the passage in full right away, especially if youstruggle with time on the ACT Reading section. One tactic is to skim first so you get a sense of the main ideas of the passage before reading the questions.The best way to skim is by reading the introduction and conclusion along with the first and last sentences of each body paragraph.You’ll save time and be able to answer most big picture questions about the passage.You can go back and read certain parts of the passage more closely later if necessary. Another tactic is to skip the passage at first and go straight for the questions.You can answer most detail questions without reading the full passage.Later, when you move onto big picture questions, you'll already have a sense of the main ideas of the passage based on what you learned in answering other questions.You can always go back and skim the passage, paying special attention to the introduction and conclusion, if you're struggling with big picture questions. Tip #3: Get Interested in the Passage It’s easy to adopt a negative attitude about the passages and treat them as a chore you just have to get through. However, you’ll have a much better time if you persuade yourself to be interested in the material you’re reading. Some of the passages present interesting information that you wouldn’t have learned otherwise. If you think of this as a learning experience, you’re more likely to absorb the material.That means a better performance on the questions and a more pleasant testing experience overall! Wear a party hat if you think it will get you in a more festive mood. If your peers judge you, just say you're going to an awesome party after the test and THEY'RE NOT INVITED. Tips for Answering Questions Tip #4: Use Connotation and Keywords When you’re thinking about how to answer a question, look for words and phrases that will help you determine positive or negative connotation as well as keywords that provide context clues about the answer.If you can figure out whether an answer should have a positive or negative connotation, this will help eliminate at least a couple of choices. If you can find keywords that indicate a contrast or a comparison in the passage (such as "however" or "rather than"), that can also lead to logical conclusions about the type of answer you want. Here's an example where we can detect connotation and use it to eliminate answer choices: The passage indicates that at the time Frank and Sigwarth presented new evidence supporting the small-comet theory, Frank most nearly felt: A. relieved but bitter about how he had been treated.B. grateful that ridicule of his work would end.C. proud that he had been proved right.D. satisfied and filled with anticipation of glory. The passage reads that after the new evidence was presented: Rather than gloating or anticipating glory, Frank seemed relieved that part of a long ordeal was ending. "I knew we'd be in for it when we first put forth the small-comet theory," Frank conceded, "but I was naive about just how bad it would be. We were outvoted by about 10,000 to 1 by our colleagues." Here, we see the words "Rather than", which tip us off to a contrast. We know for sure that Frank was NOT "gloating or anticipating glory". This means choice D can be eliminated for sure. Choice C can also be crossed out because pride wasn't the main component of Frank's feelings (as evidenced by the fact that he wasn't gloating about his accomplishment). The words "relieved" and "ordeal" show that Frank was just happy to be less vulnerable to criticism - he didn't have the energy to throw his success in everyone's faces. For the remaining two answer choices, you can see that there is a very strong adjective in the form of the word "ridicule" in choice B. This makes choice B questionable, because it doesn't seem like Frank's colleagues actually made fun of his work. They just didn't believe his theory. Choice A fits much better, and the word "relieved" is even used in the passage to describe Frank's feelings. Based on this question, you can see that paying attention to keywords is a beneficial strategy for eliminating answer choices on the ACT. Tip #5: Predict the Correct Answer When answering a reading question, try to think of the correct answer in your own words first.This will help you to avoid pitfalls with confusing answer choices.If you already have an idea of what the answer should be, you won’t get tripped up by answer choices that seem plausible but aren’t objectively correct. If the question is confusing to you, you canrephrase it in your own words before you even look at the answers to make it a bit easier. Usually, ACT Reading questions have pretty straightforward wording, but sometimes they can be confusing. If you think you might get the question muddled, write down what it's asking in your own words before choosing an answer. Tip #6: Eliminate Incorrect Answers This is the fundamental rule of ACT Reading: There's only one absolutely correct answer, and you will be able to find concrete reasons to get rid of all the other choices. Learning to eliminate wrong answers is vital because it’s much easier to get rid of the duds than to find the correct answer right away.Instead of puzzling over a couple of answers that you think might be right, you should think about why at least one of them has to be wrong.Train your focus on finding reasons to get rid of answers - every incorrect answer has something completely wrong about it. It’s your job to find reasons to eliminate answers until you are left with only one correct choice! If it helps, you can eat a milk dud for each time you eliminate a dud answer. The horrible stomachache you get later will be a helpful reminder of just how wrong the answers were. Logistical Tips Tip #7: Skip Difficult Questions If you struggle with running out of time on ACT Reading, which is one of the major challenges of this section, this tip is super important!If you find yourself lingering on a Reading question for more than 30 seconds, skip it and move on.Sticking with one difficult question for too long can jeopardize your chances of getting to easier questions later in the section. Especially on the ACT, it’s critical to have a strong grasp on time management.Since there’s only one Reading section,you need to make sure you get to all the questions.Circle the questions you skip on the first pass so that you can come back to them once you finish going through the whole section. Also, keep in mind that the ACT has no guessing penalty! If you're still totally stumped by a question after you come back to it, pick a letter at random and bubble it in. You can miss up to ten questions on the ACT reading section and still end up with a 25, so depending on what your target score is, you can give yourself some leeway for guessing. Bonus Math Question: If the correct answer choices for all the ACT Reading questions have equal chances of being correct, and you guess the same letter for 10 questions, how many points should you get, just by guessing? (Answer: you have a 1/4 chance of choosing the right answer choice, which x 10 = at least 2 points!) Long story short: guess the same letter pair (A/F, B/G, and so on) for questions that stump you and you have no idea how to answer. Tip #8: Double Check Your Answers If you have time at the end of the section, don’t waste it!Take the opportunity to go back through your answers and make sure you’re happy with all of them.This is the best way to eliminate any silly mistakes you might have made on the test. To make sure you're doing this in the most efficient way, circle any questions you're slightly unsure about in the section as you go along (even if you end up bubbling in an answer). That way you can just double check questions that confused you instead of wasting time checking questions that were no-brainers in the first place. Tip #9: Bubble at the End You can increase your efficiency on the ACT by waiting until the end of the section to bubble in all of your answers. You'll avoid looking back and forth between the test booklet and answer sheet during the test, which saves a few seconds per question.Just circle your answer choices in the test booklet when you first go through the questions. Be careful about using this tip though! You should only do it if you already know you can get through all the questions with 3-5 minutes to spare. Tip #10: Remain Calm Since there’s only one Reading section on the ACT, it’s important to keep it together and move forward even if you come across questions that stump you.Don’t let yourself get flustered by difficult questions. If you run up against something you can’t answer, just skip it and continue with the section.You might come back to it at the end and realize it wasn’t as hard as you initially thought.Confidence is key! Stay as cool as a cucumber. Are cucumbers really any cooler than other vegetables? I mean, clearly carrots and broccoli are trying too hard. But what about cauliflower? All the flair of broccoli but with a little more subtlety. I'll have to think about this. Let’s Review! Tips for Reading Passages: Start with your most comfortable subjectSkim first (or skip the passages initially and read the questions) Get interested in the passages Tips for Answering Questions: Use connotation and keywordsPredict the answer Eliminate wrong answers Logistical Tips: Skip difficult questionsDouble check answersBubble at the end Don’t freak out Remember to focus on in-depth strategies for improvement before applying these tips. You can’t just put a bandaid on a shark bite (or whatever other mortal wound you want to envision as a proxy for ACT content weaknesses).If you can master your content weaknesses AND follow these ACT Reading tips, you’ll be on your way to a great Reading score! What's Next? Looking for more ACT Reading strategies? Take a look at our articles on how to score a 36and the best way to practice for the reading section. If you want to be super prepared for whatever the test throws at you, check out my article on the hardest questions you'll see on the ACT Reading section. Here's a link to our complete study plan for the ACT so you can get started preparing for the test! Want to improve your ACT score by 4 points? Check out our best-in-class online ACT prep program. We guarantee your money back if you don't improve your ACT score by 4 points or more. Our program is entirely online, and it customizes what you study to your strengths and weaknesses. If you liked this Reading lesson, you'll love our program.Along with more detailed lessons, you'll get thousands ofpractice problems organized by individual skills so you learn most effectively. We'll also give you a step-by-step program to follow so you'll never be confused about what to study next. Check out our 5-day free trial:

Nonstandard Accounting common to the High-Tech Industry Essay

Nonstandard Accounting common to the High-Tech Industry - Essay Example The main idea behind the convergence concept was that, all nations would come together and form a unified set of accounting standards that would be applied in major capital markets. Additionally, the IFRS also wanted to ensure that the standards are adequately and rigorously used. More over the international standards formulated by international accounting standards took into account the financial reporting needs of the developing nations as well as small and medium-sized entities (SME’s).The IFRS is also in charge of maintaining the IASB independence and financial autonomy. By 1973 the international Accounting standards Committee was formed and it served as the first international accounting standards setting body. In 2002, it was however reorganized and became an independent accounting standard setter. Currently, more than 100 countries use the International Financial Reporting standards (that is set and issued by IASB) or a local direct of the IFRS. In the United States, the IASB have been developing Generally Accepted Accounting principles (GAAP) as well as IFRS. Additionally the Asian community (China and Japan) are also formulating their accounting standards to conform to the IFRS (Michael, 77). The IFRS dictates that financial statements must be structured in such a way that they reflect the true and fair view of the organization’s financial performance as well as the fair financial position. In this regard the financial statements must provide accurate information about the assets, equity, liabilities, incomes and expenditures of a given organization as well as the operating profits or loses. Additionally, to other relevant information include cash flow movement, contribution by/distributions to investors, notes. Such information enables a prospective investor to predict with great accuracy on when to invest profitably in the organization based on the prediction of future cash flows. IFRS dictates that financial