Essay examples --

Elite player football player, Lieutenant Commander, University of Michigan graduate, Yale graduate, received, and furthermore the thirty-eighth leader of the US? These are for the most part a few different ways that you could portray a man by the name of Leslie King Jr. You might be pondering what that's identity is, yet he is a leader of these United States of America. Leslie King Jr. is the first name of Gerald Rudolph Ford. I am going to disclose to all of you about his adolescence, his secondary school understanding, his school understanding, his entire political race process, his administration, and his post-administration experience. Gerald Ford was brought into the world July 14, 1913 in Omaha, Nebraska. His folks, Dorothy Ayer Gardner and his dad Leslie Lynch King Sr. isolated only sixteen days after Ford was conceived. His dad was a fleece merchant and furthermore was the child of an investor. They were formally separated in December 1913, where Fords mother Dorothy was conceded full guardianship. Before long, Ford and his mom moved to Grand Rapids, Michigan to live with Fords grandparents. (Dorothy’s guardians) Fords granddad (Leslie Sr.’s father) paid youngster support until his passing. In Ford’s account, composed by an individual from his organization, Ford said that his natural dad was known to get physical with his mom. He additionally expressed that the principle purpose behind their separation was a couple of days after Ford’s birth his dad undermined his mom with a butcher blade. In the life story it said that his dad previously hit his mom on their vacation, for grinning at another man. In 1916 Dorothy remarried a sales rep by the name of Gerald Rudolph Ford. Gerald then proceeded to embrace Leslie, later renaming him Gerald Rudolph Ford Jr. Portage grew up with three more youthful stepbrothers from his mother’s second marriage. Thomas ... ... for the bad habit administration. That one time in 1960 he nearly turned into the VP, yet the Republican candidate Richard Nixon picked Massachusetts representative Henry Cabot Lodge rather than Ford. Passage kept on running for Congress and consistently got reappointed. The Fifth District constituents enjoyed passage a great deal. They generally gave Ford in any event 60% of their votes. Later in 1963 Ford was named Republican meeting Chairman, and after two years was named House Minority Leader. Passage was not generally known by a lot of Americans aside from those from Michigan and the individuals who are a piece of Congress. This all changed when Ford and Senate Minority Leader Everett Dirksen talked together at some question and answer sessions, censuring the â€Å"Great Society Programs† of President Lyndon B. Johnson. These public interviews were referred to numerous as â€Å" The Ev and Jerry Show† (Frank N. Magill, 791) Article models - Top pick football player, Lieutenant Commander, University of Michigan graduate, Yale graduate, received, and furthermore the thirty-eighth leader of the US? These are largely a few different ways that you could portray a man by the name of Leslie King Jr. You might be pondering what that's identity is, however he is a leader of these United States of America. Leslie King Jr. is the first name of Gerald Rudolph Ford. I am going to disclose to all of you about his adolescence, his secondary school understanding, his school understanding, his entire political decision process, his administration, and his post-administration experience. Gerald Ford was brought into the world July 14, 1913 in Omaha, Nebraska. His folks, Dorothy Ayer Gardner and his dad Leslie Lynch King Sr. isolated only sixteen days after Ford was conceived. His dad was a fleece broker and furthermore was the child of a financier. They were formally separated in December 1913, where Fords mother Dorothy was conceded full guardianship. Before long, Ford and his mom moved to Grand Rapids, Michigan to live with Fords grandparents. (Dorothy’s guardians) Fords granddad (Leslie Sr.’s father) paid youngster support until his demise. In Ford’s life story, composed by an individual from his organization, Ford said that his natural dad was known to get physical with his mom. He additionally expressed that the principle explanation behind their separation was a couple of days after Ford’s birth his dad undermined his mom with a butcher blade. In the life story it said that his dad previously hit his mom on their special night, for grinning at another man. In 1916 Dorothy remarried a sales rep by the name of Gerald Rudolph Ford. Gerald then proceeded to receive Leslie, later renaming him Gerald Rudolph Ford Jr. Portage grew up with three more youthful relatives from his mother’s second marriage. Thomas ... ... for the bad habit administration. That one time in 1960 he nearly turned into the VP, yet the Republican chosen one Richard Nixon picked Massachusetts representative Henry Cabot Lodge rather than Ford. Passage kept on running for Congress and consistently got reappointed. The Fifth District constituents preferred passage a great deal. They generally gave Ford in any event 60% of their votes. Later in 1963 Ford was named Republican gathering Chairman, and after two years was named House Minority Leader. Passage was not normally known by a lot of Americans with the exception of those from Michigan and the individuals who are a piece of Congress. This all changed when Ford and Senate Minority Leader Everett Dirksen talked together at some public interviews, reprimanding the â€Å"Great Society Programs† of President Lyndon B. Johnson. These question and answer sessions were referred to numerous as â€Å" The Ev and Jerry Show† (Frank N. Magill, 791)

Development of SMEs in Malaysia

Improvement of SMEs in Malaysia The Global Enterprise Presentation Malaysia is a creating country with a populace of 30 million and at present arranged in the upper center pay classification. It is arranged in the South East Asia Region and is a piece of the Association of South East Asian Nation; which likewise includes nations, for example, Brunei, Cambodia, Indonesia, Laos, Myanmar, Philippines, Singapore, just as Thailand and Vietnam (ASEAN, 2014). Malaysia is a one of a kind nation as it is comprised of an assortment of races, for example, Malay, Chinese and Indian just as indigenous races, making it an ethnically heterogeneous country. This subsequently sets an exceptionally various and energetic social setting in Malaysia. Significant Benchmark in the Malaysian Economic Policy In their investigation of fortifying business enterprise in Malaysia, Ariff et al (2000) depicts that during the British provincial standard of Malaya (pre-1957), the British executed the act of isolating financial action along racial limits. Malaya’s primary financial drivers at the time were tin mining and creation of elastic. So as to smooth out activities of the business, Indian and Chinese vagrant laborers were imported to deal with the elastic ranches and in the tin mines individually. The Chinese were permitted to maintain certain organizations; turning out to be retailers, sellers and trivial merchants in the towns. The Malays were principally amassed in the farming division and were the main ethnic-bunch that was permitted into the administration. Be that as it may, just individuals from the imperial or privileged groups of the various conditions of Malaya were generally permitted into the organization, while most of Malays were restricted to the low-pay rural part. T his brought about a very multi-layered society, isolated monetarily and racially with most of Malays (Bumiputras) at the base bar. To correct the financial difference that existed inside the nation, the delegates of the three significant ethnic gatherings (Malay, Indian and Chinese) concurred that upon freedom from pioneer rule, the Malays would be given sure â€Å"special rights† in the fields of religion, financial aspects and governmental issues. The fundamental explanation behind this â€Å"positive discrimination† was to raise the status of the monetarily minimized Malays, and along these lines make a progressively impartial and adjusted society. Under the New Economic Policy (NEP) set up in 1970, these unique rights got progressively far reaching articulation. This was a response to the developing discontent about the financial disparities between the Malays and different races who were all the while increasing monetary domination. The primary targets of the NEP were to lessen and in the end annihilate destitution, and to quicken the way toward rebuilding Malaysian culture to address monetary lopsidedness, in order to decrease and in the end wipe out the ID of race with financial capacity (Kuala Lumpur: Government Press, 1972) The NEP underlined on expanding powerful Bumiputra proprietorship and cooperation in the corporate division, improving Bumiputra support in high-salary occupations, just as narrowing pay disparity and killing neediness. Inside these bigger strategies, the subject of developing a Bumiputra Commercial and Industrial Community (BCIC), which includes cultivating Bumiputra business visionaries, experts and making a Bumiputra working class (Economic Planning Unit, 2001) is profoundly predominant. This has become the foundation of Malaysia’s methodology for reinforcing national business enterprise, and every single related strategy and methodologies need to contemplate this. Anyway non-Bumiputra business visionaries have not been totally ignored. The State of the Malaysian Economy (2013-2014) Malaysia has a medium-sized however quickly developing economy. It is independent in significant normal assets, including gas and oil, and has a favorable situation and atmosphere for the creation of different harvests (oil palm being one of those). Her particularly vital area gives further favorable circumstances to the improvement of its worldwide exchange. Starting at 14 August 2014, Malaysia has posted a Gross Domestic item (GDP) of 6.4%, adding up to RM262.8 billion. This is an exceptionally reassuring sign for the national economy. This is a marginally checked improvement from the main quarter of 2014 which was 6.2%. In the final quarter of 2013, the country posted a GDP of 5.1% (Department of Statistics, Malaysia, 2014). This can be found in Chart 1. The development division was the primary supporter of the GDP at 9.9%, trailed by assembling (7.3%), agribusiness (7.1%), private utilization (6.5%) and oil and mining (2.1%) as indicated by The Star (2014) An extra point to take note of; the twin awful calamities that occured for Malaysia particularly Malaysia Airlines this year (flights MH370 and MH17 separately) have not fundamentally influenced Malaysia’s bullish financial execution. Notwithstanding, Malaysia Airlines (MAS) have been encountering substantial misfortunes in the second and third quarters of the year (Malaysia Airlines, 2014) As an oil and gas exporter, Malaysia has benefitted from higher world vitality costs, in spite of the fact that the increasing expense of local gas and diesel fuel, has constrained the administration to start to address financial shortages, through beginning decreases in vitality and sugar endowments and the declaration of the 2015 execution of a 6% merchandise and ventures charge. The administration is likewise attempting to diminish its dependence on state oil maker PETRONAS. The oil and gas area supplies about 32% of government income in 2013. Bank Negara Malaysia (national bank) keeps up solid outside trade holds, and a very much created administrative system has restricted Malaysias introduction to more dangerous budgetary instruments and the worldwide money related emergency. All things considered, Malaysia could be helpless against a fall in item costs or a general log jam in worldwide monetary movement since sends out are a significant segment of GDP. So as to pull in expanded speculation, the Prime Minister of Malaysia Dato’ Sri Najib Razak prior raised potential modifications to the unique monetary and social inclinations concurred to ethnic Malays under the New Economic Policy of 1970, however withdrew in 2013 after he experienced critical resistance from Malay patriots and other relegated interests. In September 2013 Najib propelled the new Bumiputra Economic Empowerment Program (BEEP), approaches that favor and advance the monetary state of ethnic Malays, further reinforcing the financial height and intensity of the Bumiputras in the country. Malaysia has a differentiated and quickly extending producing division. Malaysia had the option to join the universes chiefs in certain fields despite the fact that in numerous zones of assembling, it depends on imported advancements and outside ventures. During the 1990s, it turned into the universes third-biggest maker of coordinated circuits and one of the main makers of local machines. Agribusiness is as yet a significant fare worker. Malaysia is the universes second biggest maker of palm oil behind Indonesia, adding up to 39% of the world’s palm oil creation (Malaysian Palm Oil Council, 2014). Malaysia has consistently been exceptionally open to outside venture (FDI), particularly for send out arranged makes, with moderately scarcely any limitations and simple return of benefits. This has incited a portion of the universes biggest partnerships, for example, Dell and Microsoft of the United States, NEC and Mitsubishi of Japan, and others, to set up creation branches in Malaysia. Little Medium Enterprises (SMEs) in Malaysia Normah Mohd Aris (2007) says that: â€Å"The Malaysian economy is driven and impacted by numerous variables. A portion of these variables incorporate Small and medium undertakings (generally alluded to as SMEs) have been the foundation of monetary development of an economy in driving modern turn of events. Because of their sheer numbers, size and nature of activities, the job of SMEs in advancing residential wellsprings of development and reinforcing the framework for quickened monetary extension and improvement in Malaysia has been perceived. The reliance of SMEs and enormous ventures in working together with one another has prompted the further extension of SMEs.† As per the Malaysian SME Corp site, SMEs are characterized by the accompanying highlights: Assembling segment, deals turnover not surpassing RM50 million OR full-time representatives not surpassing 200 specialists Administrations and different divisions, deals turnover not surpassing RM20 million OR full-time representatives not surpassing 75 laborers SMEs are additionally isolated into three distinct classes as appeared in Table 1. SMEs in Malaysia are commonly engaged in the material and clothing, food and refreshments, metals and metals items and wood and wood items areas. Most of assembling organizations are situated in the focal pieces of Malaysia and around the country’s major mechanical areas. Difficulties Faced by SMEs in Malaysia As indicated by Muhammad et al., (2010) numerous past investigations directed by Saleh and Ndubisi (2006); Samad (2007); Abu Bakar et al. (2006); Aris (2006); Harvie (2004); Wang (2003); Wafa et al. (2005); Ritchie Brindley (2000); Decker et al. (2006) and Foon (2006) different difficulties confronted SMEs in a globalized situation. The SMEs ought to fundamentally move in defeating the difficulties, which incorporate downturn, hindrance from worldwide sourcing, low profitability, absence of administrative capacities, and absence of financing, trouble in getting to the executives, innovation and substantial administrative weight. Similarly, Teoh and Chong (2008) contemplated that the significant obstacles to enterprise advancement are absence of access to credit, formal business and interpersonal organizations. Muhammad et al. (2010) distinguished that the fundamental issues looked by SMEs in Malaysia are the absence of information in regards to promoting methods, marking, client stea dfastness and furthermore absence of good contacts with others nearby and internat

Free Essays on Superpowers

It is frequently considered how the superpowers accomplished their position of predominance. It appears that the developing of the two superpowers, Russia and the United States, can be followed to World War II. To be a superpower, a country needs to have a solid economy, an overwhelming military, enormous worldwide political force and, identified with this, a solid national belief system. It was this war, and its outcomes, that made every one of these superpowers experience such a prevalence of power. Prior to the war, the two countries were fit to be portrayed as extraordinary powers, yet it is mistaken to state that they were superpowers at that point. To see how the subsequent World War affected these countries so incredibly, we should look at the reasons for the war. The United States picked up its quality in world undertakings from its status as a financial power. In the years prior to the war, America was the world’s biggest maker. In the USSR simultaneously, Stalin was actualizing his ‘five year plans’ to modernize the Soviet economy. From these circumstances, comparable international strategies came about because of generally unique starting points. Roosevelt’s neutrality rose up out of the wide and predominant residential want to stay nonpartisan in any global clashes. It regularly broadly accepted that Americans entered the primary World War essentially so as to spare industry’s entrepreneur interests in Europe. Regardless of whether this is the situation or not, Roosevelt had to work with an naturally independent Congress, just extending its points of view after the bombarding of Pearl Harbor. He marked the Neutrality Act of 1935, making it illicit for the United States to deliver arms to the belligerents of any contention. The demonstration likewise expressed that belligerents could purchase just non-combat hardware from the US, and even these were just to be purchased with money. Interestingly, Stalin was by need keen on European undertakings, however just to th... Free Essays on Superpowers Free Essays on Superpowers It is regularly thought about how the superpowers accomplished their position of strength. It appears that the developing of the two superpowers, Russia and the United States, can be followed to World War II. To be a superpower, a country needs to have a solid economy, an overwhelming military, monstrous universal political force and, identified with this, a solid national belief system. It was this war, and its outcomes, that made every one of these superpowers experience such a dominance of power. Prior to the war, the two countries were fit to be depicted as incredible powers, yet it is mistaken to state that they were superpowers at that point. To see how the subsequent World War affected these countries so incredibly, we should look at the reasons for the war. The United States picked up its quality in world undertakings from its status as a financial power. In the years prior to the war, America was the world’s biggest maker. In the USSR simultaneously, Stalin was actualizing his ‘five year plans’ to modernize the Soviet economy. From these circumstances, comparable international strategies came about because of broadly unique starting points. Roosevelt’s neutrality rose up out of the wide and common residential want to stay unbiased in any universal clashes. It regularly broadly accepted that Americans entered the principal World War basically so as to spare industry’s industrialist interests in Europe. Regardless of whether this is the situation or not, Roosevelt had to work with an intrinsically noninterventionist Congress, just growing its points of view after the besieging of Pearl Harbor. He marked the Neutrality Act of 1935, making it illicit for the United States to deliver arms to the belligerents of any contention. The demonstration additionally expressed that belligerents could purchase just non-combat hardware from the US, and even these were just to be purchased with money. Interestingly, Stalin was by need keen on European undertakings, however just to th...

My Fravor Academy Essay Sample

My Fravor Academy Essay SampleWriting an essay for your My Fravor Academy subject is not easy, there are many different things that need to be considered. There are several parts to a My Fravor Academy essay, each section could have a number of different essays for you to choose from.The first part of a My Fravor Academy essay is known as the preamble, this is a basic introduction to the essay, you can include a brief introduction or a summary of your topic, or you can skip this part entirely and use the rest of the essay for a synopsis of the thesis of the essay. In order to avoid making a long essay, it is important to keep things concise.Next comes the introduction, this is where you use the name of the religion in your essay, you can include a little bit of history about it, as well as the controversial aspects of the religion, you will also want to include your personal experiences with the religion. It is a good idea to cover both sides of the argument and use the essay sample format to guide you. Many people tend to make the mistake of not discussing the other side of the argument at all, which leads to the essay being either too negative or too positive.Following this is the summary, this part is very similar to the introduction, but you will be able to include more information, information that is more specific. This is an excellent place to add in some anecdotes about your experience with the religion and even some references to your source material. Many people choose to leave out the critical parts of the source material, this is a common mistake and should be avoided at all costs.Following the summary is the conclusion, and like the introduction it is a great place to add some information, again only mentioning the positives and downplaying the negatives. It is also a good idea to coverall three sides of the argument. This is usually the part of the essay sample where a reader may feel the need to read over their work and make a point about the fla ws.My Fravor Academy essay samples are designed to help you create an effective and unique essay that addresses the topic you chose. By following these guidelines you should have no problem writing a quality essay.Many students who want to write essays for My Fravor Academy are having trouble because they do not understand what the guidelines are for the different sections of the essay. By following these guidelines you should be able to write an essay that is both effective and unique.

Marketing Proposal - 3230 Words

New†©York†©Fries†Ã¢â‚¬ ©Potato†© Noodle†© Table†©of†©Contents†© EXECUTIVE SUMMARY†© INTRODUCTION: THE COMPANY†© NEW PRODUCT IDEA CUSTOMER NEEDS AND WANTS TARGETED†©MARKET†©SEGMENT†© SWOT†©ANALYSIS†© BRANDING†©AND†©POSITIONING†© PRICING†© PROMOTION†© PLACE†©(MARKETING†©CHANNEL)†© APPENDIX†© 3†© 4†© 4 5 6†© 6†© 9†© 11†© 11†© 14†© 16†© 2†© EXECUTIVE SUMMARY New York Fries (NYF) is a Canadian franchise that specializes in potato, in particular French fries and hot dogs. There are few issues with the company itself, such as limited choices, limited access to the product. Our report analyzes the issues incorporated in NYF and recommend way to improve the situation. After evaluating the needs and wants of our existing and potential consumers, we†¦show more content†¦Also, we believe that potato made noodle is more filling, and will able to satisfy our consumers’ hunger during break time. In contrast to wants, products will only be successfully introduced if consumers are able to afford, thereby converting wants to demands. We believe our targeted customers, who are 5†© the white-collar working class, have the purchasing power to afford a bowl of potato noodle served by us. Targeted Market Segment In Hong Kong, we are targeting Asian who has tradition of eating delicious noodles. Our target customer group is aged from 20 to 45 years old, with a monthly income of $10,000 to $50,000. They are mainly the white-collars, who are in the working or middle class. They are status-oriented achievers and always demand for fashionable way of enjoying traditional foods. We target to serve our noodles as a quick lunch during the customers’ limited break-time. We believe the noodles will be beneficial to those who seek for high quality, healthy and fashionable fast food. Our target segment is relatively small but well defined at this stage in order to achieve greater market share at the introduction of our potato noodle. SWOT Analysis Strengths †¢ Since NYF has been specializing in potatoes for more than 20 years, this provides us sufficient resources and abilities to produce potato products. Also, we have a strong and effective supply network in both North America and Hong Kong, whichShow MoreRelatedMarketing Proposal : Marketing Plan1575 Words   |  7 PagesGreyston Bakery Marketing Proposal Executive Summary Marketing is a very crucial component of every business. The case study mentioned in this paper discusses a complex business structure, where the company’s goals are more concerned with community and environment sustainability. However, for the concerned company to achieve its goals, the Chief Executive Officer needs to improve its profitability without deviating from the core mission. 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Founded eighteen months ago, the company was birthed by two entrepreneurs highly skilled and knowledgeable in telecommunications. They are preparing to present their first product, Sonic 1000 PDA. The Sonic 1000 offers wireless networking, digital technology, dual phone use, 20 gigabytes of memory, four megapixel camera, and voice recognitionRead MoreMarketing Proposal Essay2262 Words   |  10 Pageswith motivational approaches. The activities and programmes of the organization should tune with the principles of transparency and sustainability. TASK 3 DEVELOPMENT OF VISION, MISSION, OBJECTIVES AND MEASURES OF THOSE FACTORS Strategic marketing planning contains vision, mission and objectives, which principally should be realistic and logical in terms of organizational goals and individual goals. In reality, vision, mission and goals are the cornerstone of the whole planning. 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The introduction of new products, decisions on whether to invest more in certain channels of distribution, change of features of the product, advertising or pricing strategies have to be backed up by evidence based on the results of continuous marketing research. In the case of a big corporation like McDonaldà ¢â‚¬â„¢s, the marketing research reports shouldRead MoreMarketing Proposal For Consumers Professional Credit Union1611 Words   |  7 PagesThis marketing proposal, designed by Justin Ellenwood is created exclusively for use by Consumers Professional Credit Union. Introduction Consumers Professional Credit Union (CPCU) will be creating a new product and a new service to go along with this product. The product will be a credit card reader for any mobile device. To enhance this product a mobile application will also be created. This application will be a free application, which charges a fee per transaction. 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Change Process Essay - 1561 Words

Step 1: Create Urgency For change to happen, it helps if the whole association genuinely needs it. Develop a sentiment genuineness around the prerequisite for change. This may empower you to begin the hidden motivation to get things moving. This isnt only an issue of exhibiting people poor arrangements experiences or examining extended contention. Open a reasonable and influencing trade about whats happening in the business focus and with your restriction. If numerous people start examining the change you propose, the urgency can build and devour upon itself. What you can do: †¢ Identify potential perils , and make circumstances showing what could happen later on. †¢ Examine openings that should be, or could be, abused. †¢ Start†¦show more content†¦What you can do: †¢ Identify the bona fide pioneers in your affiliation, and also your key accomplices . †¢ Ask for an energetic duty from these key people. †¢ Work on amass working inside your change coalition. †¢ Check your gathering for fragile ranges, and certification that you have a better than average mix of people from different workplaces and unmistakable levels inside your association. Step 3: Create a Vision for Change When you at first start considering change, there will probably be various remarkable considerations and courses of action drifting around. Association these thoughts to a general vision that people can understand easily and review. An unmistakable vision can enable everyone to appreciate why youre asking for that they achieve something. Exactly when people witness firsthand what youre endeavoring to finish, by then the orders theyre offered have a tendency to look good. What you can do: †¢ Determine the qualities that are indispensable to the change. †¢ Develop a short summary (possibly two or three sentences) that gets what you see as the inevitable destiny of your affiliation. †¢ Create a framework to execute that vision. †¢ Ensure that your change coalition can portray the vision in five minutes or less. †¢ Practice your vision talk consistently. Step 4: Communicate theShow MoreRelated Managers and the Process of Change Essays2337 Words   |  10 Pagesthe Process of Change The desperate call-to-arms, Change or Die— which can be heard echoing down the corridors of businesses everywhere — is evidence that leaders have recognised the need to change. Managers know that companies must be fast, flexible, responsive, resilient, and creative to survive. 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Adoption is sometimes used as an easy way to get out of a pregnancy or raising a child. It is a very emotional process that people sometimes spend their whole lives trying to figure more information about the event. Other times it can be used to help the parents who would love to have kids, but are not able. In many cases, this does happen, but doesnt the adoption process needRead MoreGlobalization: a Process of Change that Cannot be Stopped Essay1334 Words   |  6 Pages Globalization is defined as â€Å"the process by which the experience of everyday life, marked by the diffusion of commodities and ideas, is becoming standardized around the world,† and as â€Å"a process fueled by, and resulting in, increasing cross-border flows of goods, services, money, people, information, and culture.† Presently, globalization has been transpiring at a rather rapid rate. While this increased rate of globalization is a recent phenomenon, globalization has been happening long before theRead MoreHow to Do an Oil Change (Process Essay Example)989 Words   |  4 PagesHutchinson Rosemary Mack English 091 20 October 2012 How to change your car’s oil. Having a car not only implies driving it, but also involves taking care of it, which can be expensive. Fortunately there are certain things we can do by ourselves. An oil change periodically is imperative to keep a car in optimum conditions and actually it is easier to do than it sounds. Is good to know that a car needs an oil change every 3000 to 5000 miles or 3 months, whichever comes first, whichRead MoreWriting A Writing An Essay994 Words   |  4 PagesWriting an essay has always been a difficult and tedious task in my opinion. The writing process I followed when creating the original assignment consisted of research, a rough draft, a small amount of editing, and a final draft. 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This paper will discuss everything one needs to know in order to write the perfect process essay such as the definition of a process essay, how to construct it, and how to use proper transitions to make the essay flow. Read MoreMy Experience With A New Running Start Student At Tcc1315 Words   |  6 Pagessuccess of my grades became crucial to me. I knew that this was the only way to receive the full benefit of this college education. Developing good work habits has become my obsession. In hopes of bettering my college experience and grades, several changes were made to my work habits. I began by changing my idea of how work was supposed to be done. In all my previous experience in education, I had been taught it was best to spend large blocks of time working on assignments. When I got to TCC, I realized

Snowy Mountains Engineering Company

Question: Discuss about the Snowy Mountains Engineering Company. Answer: Introduction The key accounting issues that often evident during the process of annual reporting need to be mitigated properly in order to meet the target of the organizations or projects. In this contemporary world, several accounting problems have raised, thus it is important to identify the ongoing issues in accounting, so as to reduce its affect on the financial reporting (CCH Incorporated, 2015). Accounting is considered as an essential language of conducting business for organizations. In this regard, transparent communication within the work domain enables smooth flow of business information that plays an important role in preparing the financial statements and comparing the performance of the business (Wiley, 1997). However, due to accounting issues, the organizations hardly have the opportunity to enhance the business efficiently. To mitigate this concern, maintaining accounting standards while preparing reports is the most suitable practice that allows business expansion and regulates t he economic system. The Australian Accounting Standards Board (AASB) helps the entity to ensure transparency in financial reports for users by setting suitable accounting standards (Commonwealth of Australia, 2015). The objective of the paper is to understand the issues regarding the scandals of Australian companies and its relation with Sri Lanka and Congo based on an article. Description of the Article Two companies of Australia namely Sundance and SMEC have involved in the bribery scandals to protect the contracts of multimillion-dollars. The issue has been reported to reach the Sri Lankan office and the Republic of the Congo presidents. The association of the companies with the bribery scandals has put a pressure on the present Australian government to make changes on the anti-corruption framework. According to the report of McKenzie et al. (2016), one of the mining companies of Australia, Sundance Resource has bribed the Republic of Congos leader to seek approval from president for its iron ore projects. After evaluation of the report by Australian Federal Police (AFP), it is found that son of Congos president was involved in the multimillion deals with the company (McKenzie, et al.2016). Investigation by Fairfax Media also disclosed the evidences of bribery issues conducted by Snowy Mountains Engineering Company (SMEC). It is alleged that the companys overseas member has bribed the officials of Sri Lanka to continue its 2.3 million-dollar project in 2011. As per the Fairfax Media examination, the email of the company has revealed that the Sri Lankan president demanded political donation from SMEC to start a project in the country. According to the article, the image of Australian companies regarding practicing clean business has been proved wrong after the exposure of scandals. However, the Sri Lankan president in his overnight statement clearly denied to have knowledge regarding the incident and assured the cooperation in the investigation in Australia as well as in Sri Lanka (McKenzie, et al., 2016). The secret deal in Congo by Sundance has also been exposed that the project of the Mbalamà ¢Ã¢â€š ¬Ã‚ Nabeba Iron Ore was settled by paying bribe to the son and nephew of the Congos president Denis Sassou Nguesso. In the similar context, the report of 2006 explains that the Sundances agent in Congo informed the company that for securing the license of mining in the Cameron boarder would need the support of president. As per the companys file, the deal was finalized by paying the one-third share in the iron ore project. The company further explained ASX in 2008 that it would issue a portion of Australian shares valued 13 million dollar to unknown share holder of Congo. The matter has been examined by the international NGO and human right authorities of France and discovered million dollars properties ownership by the family of president (McKenzie, et al., 2016). In addition, in the case of the Snowy Mountains and president of Sri Lanka the World Bank investigator sent a report on September 2013 stating companys involvement in the corruption in relation to the power plant project in Bangladesh in 2007. According to the manager of SMEC, the president was largely involved in the entire scandal, wherein the companys account revealed that 27 thousand Australian dollars have been paid to the unnamed person as bribe to continue the project (McKenzie, et al., 2016). Identification of Accounting Concept and Its Link with the Issue Corruption may be defined as misuse of the power for political and personal benefits, which has become a common practice in the contemporary world. The characters of corruption and its persistence can be seen through the article, wherein not only the organizations, but also all the systems including political entities are involved in the corruption (Abjorensen, 2014). There are many instances of corruption and fraud cases such as WorldCom and Enron among others, which clearly indicate the concern for corruption and fraud in the international market. As per the article, the bribery deal of Australian company SMEC with the Sri Lankan political leader has led to the attrition of investors and public confidence in the financial market (Abdullahi, Mansor, 2015). The major issue of Sundance is that the company did not follow the financial reporting theories or principle of accounting, which significantly suggests to set strict standards in preparing financial reports by the organizations. The company has failed to bring transparency in the financial reporting due to which the bribery scandal has been occurred, as the resources have been used in corruption and bribery. Thus, it is observed that the companies lack ethical behavior within the work process that involve in making correct and fair means in the decision making process. The companies have not considered ethical behavior while dealing with political leaders of different countries in matter of bribery (Elliott, Elliott, 2011). On the other hand, auditing and accounting standards helps in ensuring transparency in generating financial information and mitigating the risks of illegality and unethical issues within the organization. However, the undisclosed transaction elaborated in the ar ticle between son and nephew of Congos president and Sundance clearly displays the unethical and corruption practices. Thus, it is stated that a key reason for keeping the transaction secret is to indulge in the corruption, which need to be mitigated to ensure expansion or business development in long run (Malagueno, 2011). Underlying Assumptions of Conceptual Framework of Financial Reporting There are some underlying assumptions of financial statements under the framework of financial reporting among which providing required information regarding important issues or probable risks for decision making process is not included in the financial statements. Thus, it is assumed that the financial statement requirements have limited scope for the use of management due to which organizations might not be able to acquire competitive advantages in long run. The use of mixed value in the financial statements creates confusion to evaluate and determine the meaning of different figures due to which it cannot be considered as a future predictor. These factors clearly indicate the significance of adopting changes in the financial reporting process, wherein all the details of transactions and other information will be provided to monitor the potential of the companies in this competitive market (Becker Educational Development Corp, 2014). The companies such as Sundance and SMEC of Australia have not able to maintain the set accounting standards. The case of corruption and bribery has made lose the reputation of the companies in the market. The AFP has identified several aspects of the SMEC and its relation with the office of the Sri Lankan president based on which it is investigating the matter. The uncovering facts about the bribe deals between Sundance and the Presidents family of Congo have disclosed the corporate corruption culture in Australia due to which several other companies face problem in surviving in the market with higher profitability. Thus, in this regard, it can be stated that with the support of the investigation process of AFP, the entire case is expected to uncover and further implement changes in the financial reporting accordingly. Introduction of the Major Issues in New Accounting Standards The exposure draft, which has been published in the International Accounting Standards Board (IASB), includes a proposal of the amendment in IFRS 4 Insurance Contracts. The proposed amendments are intended to deal with the concern shown by some of the interested parties regarding IFRS 9 Financial instruments, date of effectiveness and the proposed insurance contracts. Certain companies have also expressed their perceptions about the rising accounting volatility in the profit and loss with the need new financial instruments and its application (IFRS, 2015). The issues that will be addressed through the draft are as follow: Overlay approach: IASB would propose an alternative, which will permit the entities to introduce contracts within the scope of FRS 4. Reclassification from profit and loss to other inclusive income or expenditures occurring from selected financial assets is stated in the approach (International Accounting Standards Board, 2015) Deferral approach: Option of temporary exemption is obtained from IFRS 9 application for the entities that are engaged in principal activity of issuing contracts within the capacity of the IFRS 4. The purpose of the exemption is to identify the entities that are affected for the operation date of IFRS 9 new insurance contract standards. The reason for targeting these entities is due to the engagement in activities, which results in contract as per the IFRS 4 (International Accounting Standards Board, 2015) General Views of the Commenting Parties on Comment Letters From the comment letter, the feedbacks of four entities have been selected. The first respondent commented on the draft is Allianz group, Germany, which is a global company functioning in the area of insurance and management of asset. The company has provided support on both the dimensions proposed by the IASB and acknowledge the board for introducing these issues in order to mitigate the problems in insurance sector. The company further believes that only deferral approach would be helpful in addressing the overall issues of the insurance sector. According to the perception presented by the Allianz group, it can be stated that the overlay approach would not be able to mitigate the extra accounting mismatch and temporary volatility evolving from the incorrect arrangement of the effective dates. Thus, the company supports the proposed application of the IASB as it provides the effective solution for the insurance companies (Sauer, Fichtl, 2015). The second respondent is Ernst Young Global Limited, who agreed with the IASB proposal. The company supports the overlay approach in which the entities are allowed to eliminate accounting mismatch with the support of appropriate measures. However, there is a concern shown by the company regarding lack of clarity evident in the definition of financial assets of the insurance contracts. Contribution of the needless application diversity has been apparent in the overlay approach by the company. In this regard, the company agreed to the deferral approach, as this approach provides certain insurance companies to postpone the IFRS 9 effective date. Hence, the company has urged the IASB to improve IFRS 4 in shortly (Ernst Young Global Limited, 2015). In accordance, the next respondent is Belfius, a Belgian bank-insurer, which provides the banking and the insurance services to the customers. The company agrees with the overlay approach and it is a useful instrument to lessen the time factor between IFRS 9 and new insurance contract. The financial statements comparability of the approach has been supported by the company. However, as per the feedback provided by the company, it is observed that the company does not support the application of deferral approach and stated that this approach would not add any solution to the company, as it involves the complex operational consequences and extra cost. Temporary exemption would not help in providing the alternative workable solution and there are least possibilities for the company to apply this approach. Thus, it is assumed that the overlay approach would provide consistency in the financial statements, as compared to the other approach (Flandre, Vankelecom, 2015). The fourth respondent on the proposed draft is Grant Thornton International Limited, which has largely agreed with the introduction of two different approaches in the draft. As per the company, these approaches would help in addressing the diverse concerns to various extents starting from financial reporting process to strategic implementation of the organization, as it also depends on the capabilities of the company. Both the approaches of draft are supported by the company, wherein the company stated that the temporary exemption would serve comparatively better solution for the problems of the insurance companies that might be raised during the work process. The deferral approach would also contribute towards the improvement in financial instruments in accounting. The company considered the overlay approach as an advantage in avoiding the implementation of IFRS 9. The company also acknowledged the challenges in designing majority test based on the income and expenditure (Sharp, K, 2015). Assumptions of Private and Public Interest The amendments in IFRS 4 Insurance Contracts supports the financial guarantee to meet the definition of the contract in the public sector companies, wherein the amendment would benefit the companies in applying accounting principles in the insurance contract. As per the HM treasury, the overlay approach would not add any kind of benefits for the public interest, as this approach would not able to make implications on the public sector. The draft proposed by the IASB would become effective, if the amendments get excluded based on the draft, whereas the public sector entities would be facilitated with consistent accounting policies, if the amendments are omitted from the draft (HM Treasury, 2016). According to the theory of public interest, the regulation of firms and other economic players help in contributing towards promoting the public interest. The public interest can be regarded as the most suitable share of scare resources among the individual and society (Hertog, 2010). The new proposed draft of the amendments in IFRS 4 Insurance Contracts is expected to provide better and consistent comparability of financial performances of the insurances entities. Thus, it is observed that the conceptual framework of the amendment would further help in introducing the financial transaction in more efficient manner (European Commission, 2016). On the other hand, the approaches used in the draft would permit private entities to manage the accounting mismatch. The reclassification of the profit loss and other comprehensive income and expenses would be possible with the utilization of the overlay approach for companies in the private sector. The amendments in IFRS 4 Insurance Contracts would help in setting the standards in the insurance contract. The deferral approach would be beneficial for maintaining time gap of effective date of IFRS 9. The financial instrument of the private insurance companies would be transparent with the application of the both the approaches of the proposed draft of the amendment (Deloitte Global Services Limited, 2016). From this perspective, private interest theory suggests that the regulation serves individual interest, wherein all the private sectors are rational and self-interested in forming the contents of the process of regulation (Soobaroyen, 2011). The private sector would able to decide the qualifying financial assets of insurance companies. Concerning private interest in the proposed draft on IFRS 4, it is observed that the draft would help in defining the asset backing liabilities and the idea of the overlay approach that is required to track the reporting date. The development of new accounting regulation can further help in maintaining the financial statements (FASB, 2016). Different organizations adopt various types of accounting standards and methods for the transaction in financial statements. With the development of economic standards, several entities such as International Accounting Standards Board (IASB) have been setting new standards for preparing the financial statements. In this regard, it can therefore be stated that amendments in IFRS 4 Insurance Contracts help in exploring the accounting standards in insurance entities. Hence, by utilizing the overlay and the deferral approaches, the insurance sector would be able to resolve the problems evident in the current work procedure (Cortese, Irvine, 2010). References Abdullahi, R Mansor, N. (2015). Fraud triangle theory and fraud diamond theory understanding the convergent and divergent for future research. International Journal of Academic Research in Accounting, Finance and Management Sciences, 5, 38-45. Abjorensen, N. (2014). Corruption, Asia and the g20. Combating Corruption, 1-156. Becker Educational Development Corp. (2014). Limitations. Financial Reporting, 1-53. CCH Incorporated. (2015). Introduction. Top Accounting Issues For 2016 CPE Course, 1-226. Commonwealth of Australia. (2015). Objective. First-time Adoption of Australian Accounting Standards, 1-32. Cortese, C., Irvine, H. (2010). Introduction . Investigating International Accounting Standard Setting: The Black Box of IFRS 6, 1-30. Deloitte Global Services Limited. (2016). Amendments to IFRS 4: Applying IFRS 9 financial instruments with IFRS 4 insurance contracts [ED] Quick Article Links, Retrieved September 9, 2016, from https://www.iasplus.com/en-ca/projects/ifrs/exposure-drafts/temporary-measures-relating-to-the-effective-dates-for-ifrs-9-and-the-new-insurance-contracts-standard-research Elliott, B Elliott, J. (2011). Financial accounting and reporting. Financial Times Prentice Hall, 1-897. Ernst Young Global Limited. (2015). Invitation to comment Exposure draft ED/2015/11 applying IFRS 9 financial instruments with IFRS 4 insurance contract. Investor in People, 1-12. European Commission. (2016). On the activities of the IFRS foundation, EFRAG and PIOB in 2015. Report from the Commission to the European Parliament and the Council, 1-11. FASB. (2016). Comparability in international accounting standardsAn overview. Retrieved September 9, 2016, from https://www.fasb.org/jsp/FASB/Page/SectionPagecid=1176156245663 Financial Accounting Standard Board. (2016). Nonpublic entity stakeholders: Your views are critical in improving financial reporting. Retrieved September 9, 2016, from https://www.fasb.org/jsp/FASB/Page/SectionPagecid=1176158613128 Flandre, C. Vankelecom, J. (2015). IASB ED/2015/11 applying IFRS 9 financial instruments with IFRS 4 insurance contracts. Belifus, 1-5. Hertog, J. (2010). Public interest theories of regulation. Review of Economic Theories of Regulation, 1-59. HM Treasury. (2016). Insurance contracts: applying IFRS 9 financial instruments with IFRS 4 insurance contracts. Financial Reporting Advisory Board Paper, 1-6. Houses of the Oireachtas Service. (2010). Introduction. Accounting Standards, 1-20. IFRS. (2015). Insurance contracts: Exposure draft comment letters (ed/2015/11), Retrieved September 9, 2016, from https://www.ifrs.org/Current-Projects/IASB-Projects/Insurance-Contracts/Exposure-Draft-December-2015/Pages/default.aspx International Accounting Standards Board. (2015). Proposed amendments to IFRS 4. Exposure Draft ED/2015/1, 1-48. Malagueno, R. (2011). Introduction. Accounting and Corruption: A Cross-Country Analysis, 1-33. McKenzie N, et al. (2016). Australian companies linked to bribe scandals in Sri Lanka and Congo. Retrieved September 9, 2016, from https://www.smh.com.au/business/australian-companies-linked-to-bribe-scandals-in-sri-lanka-and-congo-20160823-gqyzlp.html Sauer, R. Fichtl, N. (2015). Comments on the IASBs exposure draft ed/2015/11 applying IFRS 9 financial instruments with IFRS 4 insurance contracts. Allianz, 1-6. Sharp, K. (2015). ED/2015/11 Applying IFRS 9 financial instruments with IFRS 4 insurance contracts - proposed amendments to IFRS 4. Grant Thornton International Ltd, 1-7. Soobaroyen, T. (2011). Prior theoretical and empirical work. The Consequences of Accounting Regulation without Accountants: The Case of UK Political Parties [draft / work in progress], 1-37. Wiley. (1997). Overview. Financial Accounting and Accounting Standards, 1-10.