Darwin Destroyed the Concept of Human Specialness

Darwin destroyed the concept of human specialness I would say I disagree quite strongly with the assertion that Darwin destroyed the specialness of humanity. For this relatively brief paper I am going to attempt to refute this claim and try to highlight some of the things that highlight how we have kept the same level of ‘specialness' that we have always had. There are many people who would say that we humans are the only beings with full consciousness, in the words of a great many this would translate to having a soul.Humans surely have a soul-like property, a mind, something that separates us from the multitudes of lower species from the smorgasbord of earthly life. It isn't my purpose for this paper to discuss whether or not we have a soul but I do intend to talk about what constitutes our mind, our selves. The fact that we as humans possess a high degree of consciousness to me spells a very special kind of existence.Can even our nearest intelligent creatures on the tree of life appreciate the magnificence of life? Can a chimpanzee sit back and admire the beauty of the sprawling life in the jungle? Does he marvel at his own bodies ability to repair itself after he has been in a bloody brawl with a rival? Can a dolphin be awestruck by the morning sun glistening on the surface of the water? Does he wonder what life would be like for him if he were one of those surface beings he often sees on boats in the ocean?Humans are extraordinary because, being the most advanced form of life on the planet, we possess brains larger than all other forms of life(save for some large mammals but even then ours are much bigger proportionally) With this we have evolved two magnificent features which can only set us worlds apart from and ahead of all other life forms. We have this amazing sense of self, sense of awareness- in a word -consciousness. This grants us the capability of knowing who and what we are (to a large extent anyway), and where we came from (Darwin is owed some credit in this field).It is the ability to see beauty in a sunset on a savannah, to hear the splendour in Tchaikovskys The Nutcracker, to read great works of literature and be able to travel the universe with our imaginations. The other great feature we have as a follow on from having large brains is the wonderful power of language. This splendid trait has gone hand in hand with consciousness to create the incredibly unique life form that homo sapiens has become. Our ability to understand the universe and our position in it is one of the glories of the human species.Our ability to link mind to mind by language, and especially to transmit our thoughts across the centuries is another (Dawkins 2008 p3) Our advanced cultures have truly become magnificent phenomena. We have complex, yet highly virtuous systems of ethics and values. Largely stemming from our aforementioned large brains and the use of language we have self evolved to create ways of living that set us apart from all t he rest of earthly creatures, both those alive today and all the previous inhabitants of the earth including ones from bygone eras.Humanity is replete with themes of co-operation, love, compassion, altruism, sympathy for our fellow beings as well as for all other life forms. We have been capable of many such virtues for a long time, since we became human one could say. As John Eccles (1980 p204) reminds us, there are snippets of evidence that as far back as eighty thousand years ago Neanderthal man held ceremonial burials- a truly altruistic act. Or, as he also noted- the bones of two men dated from sixty thousand years ago which show they were incapacitated for up to two years yet they had been kept alive by caring tribes folk.There is other evidence from as far back as this of the compassionate behaviour between members of humanity and we all know only too well of absolutely countless examples of it in recent history and of course in present day. For all modern mans shortcomings a nd problems in our societies, we have always been gifted with a great sense of right and wrong, of cruelty and kindness. With this majestic property that is consciousness comes the boundless faculty of thought. We are capable to reason, plan, remember to a limitless degree.Technology today has become something we could never have imagined even one hundred years ago. We have invented the most ingenious and sophisticated equipment to be able to look inside our brains. Magnetic resonance imaging (MRI)scans and the more recent positron-emission topography(PET) scans are machines with wonderful capabilities for seeing goings on in the brain. We can monitor which parts of the brain are being used when we experience certain thoughts. We cannot however, as Ward highlights(2008 p147), even begin to monitor in advance what people are thinking.Our thoughts are far and away more complex and profound than any other animals (or machine) can hope to have and, importantly, remain ours and ours only . If we try to look at the bigger picture, the macroscopic view of things, are we still special? When we gaze up into the night sky and contemplate our place in the universe it is very easy to become overawed by the sheer scale of the cosmos and our relative minuteness in it. How can there be anything special about us when we are almost nothing in relation to the vast universe.I believe it is not that we are in the universe but that we are the universe. â€Å"Far from exposing human beings as incidental products of blind physical forces, science suggests that the existence of conscious organisms is a fundamental feature of the universe†(Davies 1992 p21). As Davies alludes to here humanity is actually an intrinsic part of the universe and, whether or not there are other advanced conscious beings far out in space, we are or are part of the pinnacle of life, of nature, and of the cosmos.If the universe is one giant living organism, a vast clockwork mechanism, a massive computer then we are its brain, its central cog, its CPU. I try to imagine the perspective of a person who would make a statement like the title for this essay. I can understand the point whereby humanity is seen as simply the result of a very long line of life adapting and developing or, to use the term elucidated and made famous by Darwin- evolution. Life is just mechanical, they might say they have learned from Darwin, it only instinctively drives to keep living.What's so special about what is simply the as yet highest point of this unconscious , robotic like endeavour in nature. Are we more special than the animals below us on the food chain, or before us in eras like the dinosaurs. Was even the earliest amoeba not as special as us given its importance in the chain of events? This viewpoint, while largely correct in its facts and assumptions, doesn't give any credence to what homo sapiens has become since he has evolved from the ape.Hopefully this paper has made some of a case as to why the two legged big brained organisms that we are have a deep specialness to them. Bibliography Davies, Paul. 1992. THE MIND OF GOD. London: Penguin Books Dawkins, Richard. 2008. MODERN SCIENCE WRITING. Oxford: Oxford University Press Eccles, John C.. 1980. THE HUMAN PSYCHE. Berlin: Routledge Ward, Keith. 2008. The Big Questions in Science and Religion. Pennsylvania: Templeton Foundation Press

Drug Addiction Disease or Choice? Essay

Drug addiction, disease or choice, the National Institution of Drugs Association (NIDA) has determined Drug Addiction a chronic, relapsing brain disease while opposing views debate Drug Addiction as solely a choice controlled voluntarily? Drug addiction is now recognized as a chronic relapsing brain disease expressed in the form of compulsive behaviors. Hence, the estimated economic cost contributed to disease foundations is $181Billion a year? Could this be a loophole for obtaining funds and doesn’t this kind of money seem high to be contributed to a voluntarily poor decision? Weather you believe addiction to be a disease or a choice is to be seen. Many well respected professors and scientist claim addiction is a scapegoat behavior that has been incorrectly identified as a physical or mental illness, an addict is only a victim of bad science and misguided policy. NIDA has made ground-breaking discoveries about the brain and has revolutionized our understanding of drug abuse a nd drug addiction. Later to be defined is what the significant difference between abuse and addiction, which can ultimately change ones point of view. The following is a combination of research by medical institutions and well respected professional in the fields of science, along with two very interviews, with an ex drug addict turned counselor for a methadone treatment facility, an individual in active addiction, and a recovering addict. The experience, strength, and hopes of these professionals and the personal trauma had by each of these addicts is part of a message that should be heard by anyone ever touched by the disease of addiction in any way shape or form. Drug Addiction is a growing problem today and has caught the attention of many professionals these professionals have opposing views of the cause, some will say Drug addiction is a disease while others will claim it is a voluntary choice of poor decisions making. NIDA has determined that addiction is a disease. The big controversy is said to be in the difference of terminology. Before one can make the assessment weather addiction is a  disease or choice they must first understand the difference between addiction and abuse. What are the differences Between a Drug Abuser, and a Drug Addict? Many people assume that addiction is simply an overuse of drugs, and that the addict is just a drug user who chooses to use too much. But research has shown that addiction, unlike casual drug use, is no longer a matter of free choice. â€Å"Functionally you’ve moved into a different state, a state of compulsive drug use,† says Alan Leshner, Ph.D., director of the National Institute on Drug Abuse (NIDA). Drug use really isn’t a choice of morality. By interview with a counselor at a drug rehabilitation center â€Å"Drug addiction is a mental disorder with a physical allergy.† When an addict doesn’t use they become ill physically, muscles tighten, sweats and stomach pains, vomiting and many other flu like symptoms surface. Then the voice in the brain begins to talk to them and it is a vicious cycle of emotional stress. The abuser can use at parties and on special occasions. He or she ma y like to use when they chose, but if they do not use drugs they do not have a mental relapse or physical discomforts. When an addict puts down the drug they are not cured, they are only sober. For this reason many addicts must undergo either a 12 step program or have the support of a drug counselor. An abuser can stop using at any given time and never pick up again. The National Academy of Sciences’ Institute of Medicine, the American Psychiatric Association, and the American Medical Association all define this state of driven, compulsive use as the essence of addiction. Someone who abuses drugs may suffer negative consequences from using, as the addict does, but generally can and does stop when these consequences become too severe. The addict may be unable to stop, even after negative consequences, without medical and/or behavioral help. Says Steven Hyman, M.D., director of the National Institute of Mental Health, â€Å"An alcoholic taking a drink looks like anyone else engaged in that behavior, but what’s happening in his or her head is different.† He or she is in the grip of a powerful compulsion that may lead to a binge. (Firshein, Janet) Some have characterized addiction as a behavioral choice and can be controlled voluntarily. There is an interview with Gene M Heyman a professor at Harvard University, as the conversation around his ideas of addiction being  a voluntary decision and why anyone would want to volunteer to be an addict. Gene Hymens findings are and what they mean. The author argues what has been said about addiction in so many studies, â€Å"drug addiction is a Disease† this means it is not a choice. Heyman states it is simply an act of voluntary choice. While he does not pretend to be a policy expert, he does believe that treatment should consist of non-drug activities to lower the value of the â€Å"drug.† (Akst, Daniel) Heyman states, â€Å"In a most impressive display of brain technology, scientists have used scanning technologies to observe metabolic activity of the brain in action. In a typical demonstration, addicts are shown drug related videos that depict people handling crack pipes and needles. Brain scans capture the viewer’s reaction to these provocative ima ges and represent it as glowing Technicolor splotches of color that represent activation in drug sensitized brain regions. (Videos of neutral contact depict no such activity.)† Heyman goes on to make his claim that this proves that addiction is not a brain state it is a behavior. (Leshner) It’s not strange or unlikely that as soon as a person hears the word’s addiction, they are interpreted immediately as a negative and a stigma is automatically attached to the individual with the addiction. In the article called â€Å"Drug Addiction: A Brain disease?† I have found that there are studies that define â€Å"drug addiction, â€Å"as a compulsion to take drugs. There are many biological factors that are indications of â€Å"drug addiction† being a form of a mental disease do to the lack of control one has in their behavior. â€Å"Drug addiction† affects even the neurotransmitters that one uses to learn or for memory. The studies go on and on and do to the behavioral components there are some scientists and other professionals who seem hesitant to call â€Å"drug addiction† a brain disease. (Pietas’, Nicole) Some say it is a disease some say it’s a choice. None the less, he disease of addiction has become such the problem in the United States of America it is considered the most costly and damaging DISEASE by the National Institute of Drug Abuse. This kind of money being delegated for these drug addicts and alcoholics is alarming. If not a disease than what is it? The evidence and research has been done. The brain behaves differently in an addict. When one ingests drugs one of the changes is the rise in available levels of certain  neurotransmitters associated with feelings of pleasure. Key among these is dopamine; a naturally occurring neuro-transmitter that some scientists now think is implicated in most of the basic human experiences of pleasure. The pleasure of a kiss, a bowl of favorite ice cream, and a compliment may all be related to a rise in dopamine levels in the normal person’s brain. Drugs of abuse also boost dopamine levels. When a person takes a hit of crack cocaine or a drag on a cigarette the drug causes a spike in dopamine levels in the brain, and a rush of euphoria, or pleasure. While it’s not the only chemical involved in drug abuse, experts have come to believe that dopamine is the crucial one. The damage is truly done over time as neurotransmitters are not replaced pain and suffering becomes more real when drugs are not present. The cycle of addiction is so cruelly painful. How can one assume or argue that this is a choice? We would be claiming that 600,000 people currently addicted to heroin today are just gluttons for punishment. Is there a cure for this disease? Unfortunately, no cure up to date, but recovery is possible with persistence, guidance and reinforcement as learned in an interview with Charlotte Doe, an ex addict turned CDAC Certified Counselor of Drug and Alcohol addiction, at Spectrum Health, a methadone rehabilitation center. The question is how bad does one want recovery? When asked, what was her most challenging responsibility; her response was being able to know when someone wasn’t ready and knowing that any day could be their last. She explained how there is no one rule in how to counsel an addict it’s not found in a text book, and no two addicts are the same. Her best gift to offer is being able to identify with the addict from experience. Charlotte also believes strongly in that meetings and step work are incredibly important. Putting the drug down is only the beginning of a long road ahead. The experience strength and hope from a recovering addict and a drug treatment counselor is how this addict is giving back to society. The sad part is that some haven’t truly hit â€Å"rock bottom† and until they do, they will not be ready. Hence, the addict relapsing, this is a term of when an addict puts down the drugs for a period of time to endure recovery and has a setback. There is an active addict which we will call, John Doe, who I had the pleasure of speaking with who shared with me the pain and suffering he goes through. He has attempted recovery numerous times, but  just can’t seem to find a way to stay clean. He knows that when he is in recovery, for example inpatient, he can stay clean. The problem is once subjected to â€Å"life on lifes terms† its back to square one. He also admits that until his enablers, those who make his using possible, stop being providers than he will continue using. Again, hearing those words straight from the mouth of an addict one can agree that until an addict Hits â€Å"rock bottom† there may not be a chance for recovery. Charlotte said it best, an enabler is cheating the addict of his/her â€Å"Rock Bottom†. Tough love is the key in a situation like Johns. His enablers might need to take a step back and let John go through his process. Being addicted can’t be a very pleasurable habit. It’s costly, you have to answer to the drugs regularly, no vacation without them, no chance of separation from the substance while sick and suffering. You are no longer your own boss, the drugs are. Unfortunately for the addict people continue to think it’s primarily a moral and poor Choice caused by being a degenerate and having lack of willpower. As learned in the research addiction is a disease that Causes addicts to have no regard for consequences and to abandoned everyone and everything with no control. Addiction is a disease that causes changes in the brain, which then drive certain behaviors, taking the drug compulsively, but addicts can learn to change the behavior. We wouldn’t blame a person with a heart disease for having a heart attack. But we would guide them into better habits; a healthy diet, exercise, and making sure they are complying with medication. The same with an addict, we can blame them for being sick, but we should encourage and make them responsible for their recovery. The disease itself cannot be cured but can be treated. It’s been said that the public has little sympathy for addicts, but â€Å"whether you like the person or not, you’ve got to deal with their problem as an illness.† Given the views of the professionals and personally affected individuals has your opinion of addiction been altered? Akst, Daniel The 1eBoston Glob, August 9, 2009Akst Daniel www.Boston.com/ bostonglobe/ idea /articles/2009/08/09 Campbell, William G. Canadian Journal of Psychiatry, Nov2003, Vol. 48 Issue 10, p669- 674, 6p, 1 Chart; (AN 11539480) Falk,Daniel; Hsiao-Ye Yi; Susanne Hiller-Sturmhà ¶fel. Alcohol Research & Health, 2008, Vol. 31 Issue 2, p100-110, 11p, 4 Feske,Ulrike; Tarter, Ralph; Kirisci, Levent; Pilkonis, Paul. American Journal on Addictions, Mar2006, Vol. 15 Issue 2, p131-137, 7p, 1 Firshein, Janet, PBS Online Leshner Science 3 October 1997: 45 DOI:10.1126/science.278.5335.45, www.scienceAAAS.org the Addiction Is a Brain Disease, and It Matters Miriam-Webster, I. (2002). Merriam-Webster’s Third New International Dictionary Unabridged. Retrieved www.mwu.eb.com.ezproxy.apollolibrary.com/mwu Pietas, Nicole. Drug Addiction: A Brain Disease? Serendip Biology 1/17/08

ITM501 MoD 3 SLP the internet as social media Essay

ITM501 MoD 3 SLP the internet as social media - Essay Example It is interesting to note that Twitter was never designed with the intention of being used as a social media website. It was primarily designed as an instant messaging communication platform with a client company. The company touts of having approximately 140 million active users as in 2012 and being the ninth/tenth â€Å"most visited† website (Bullas) (Webneel, 2013). Its initial success is attributed to the novelty of the platform which came as Ð ° breakthrough from others such as Facebook and Orkut. Over the period, Twitter has added features such as expandable tweets and Twitpics to enhance user experience. I found the Twitter platform relatively straightforward and simple. This is because of the company’s usage of features such as the Follow and Tweet buttons, search option and â€Å"embeddable Tweets† (Ellin, 2011, Twitter Developers, 2013). The feature of embeddable tweets is particularly useful as it allows users to convey a brief story through a â€Å" line of code† or keywords that can help others follow the story by searching for it anywhere on the web (Ellin, 2011). I was able to generate fair amount of political and general discussion regarding recent economic events in U.S by simply quoting the key words and getting connected with others to shared views on similar topics. Also, these short stories compare with Facebook’s status updates although the reference properties of the former make it easy to share the stories/updates. Twitter also offers tremendous support for bloggers including its own domain â€Å"Twitter Blogs† with RSS feeds support and easy integration of Twitter content onto blogs using the embeddable tweets. However, my use of embeddable tweets was still fairly simple considering that I am not a blogger and cannot possibly use it on platforms other than Twitter and Facebook. Furthermore, in order to counter its competitors including LinkedIn, Twitter has introduced â€Å"Twellow† which allows people to search for other people on Twitter via their expertise or occupations. I found this particularly useful for finding my colleagues and connecting with them on Twitter. It also allowed me to find old friends (with whom I hadn’t recently been in touch) and connect with them. Various categories including Recreation, Entertainment, Culture, Computers, Sports and Government are listed which allows users of similar taste to group themselves and share content (iEntry, 2013). This is a useful application of the famous phrase â€Å"birds of feather flock together†. However, the Twitter experience was a bit more complex than my experience with Facebook as it took a lot of time making sense of the features. At the very least, discovering how to actually tweet was complex as tags had to be used for creating the story. Furthermore, it was monotonous to merely tweet and not engage in other interactive content such as games. On the other hand, the ‘twit picâ₠¬â„¢ option compares with other platforms such as Instagram by offering the latest ‘trending’ pictures (Twitpic, Inc., 2013). I was able to view several personal life photographs of my favorite celebrities such as Kim Kardishan’s baby- North. With just one click, I was able to view all photographs uploaded by Kim Kardishan on her official twitter account along with the

Project Management Research Paper Example | Topics and Well Written Essays - 2000 words

Project Management - Research Paper Example Project management could be defined as a process where individuals apply their knowledge, skills and techniques in order to project activities to meet the project requirement. In other words, project management involves activities such as planning, scheduling and controlling of activities to achieve the desired objectives of the project. As defined by Cleland and Gareis (2006), project management is successful when it follows the process which includes initiating, executing, monitoring, controlling and closing of a project to meet the project requirement. The Project Management Institute defines project management as application of skills and knowledge along with tools and techniques to meet the project requirement (Barkley, 2006). Hamilton (2004) divided project management into 5 components, i.e., initiation, planning, execution, monitoring, control and lastly, closure of a project. Project life cycle indicates all the project phases that a project has to go through in order to be completed. In other words, it is a collection of project phases that are divided so that the project can be controlled and managed accordingly. According to Kerzner (2009) project life-cycle is divided into four phases that indicates the beginning and ending point of a project. Furthermore, according to Kerzner (2009), the first phase of a project life cycle is the initiation phase followed by project planning, project execution and project closure. Each of the phases mentioned by Kerzner (2009) is further divided into activities which need to be done to accomplish the goal of project management. In order to further elaborate the project life cycle, each of the phases is separately presented along with the activities involved within the particular phase. Phase 1: Project Initiation The aim of this phase is to identify the problems along with the opportunities that the business could focus upon. This phase also includes solutions to the problems that a business may face. In this phase, the project manager defines the project and the opportunities that the organization could achieve by undertaking the project (Lewis, 2006). The activities within this phase are as follows: a) Developing a business case b) Undertaking a feasibility study c) Establishing terms o f reference d) Appointment of project team e) Setting up office f) Performing review of this phase (Lewis, 2006). Phase 2: Project Planning The second step in the project life cycle is project planning. In this phase, the manager indicates all the activities and tasks that need to be performed. In this phase, each task is linked and the manager ties the tasks with deadlines to get the task completed within the timeframe. Within this phase, the project manager identifies the number of people required for the completion of tasks along with the identification of expenses that might incur during the completion of the project undertaken. The crucial activities that are involved in this phase are as follows: a) Creation of plan b) Creation of resource plan c) Creation of financial plan d) Creation of quality plan e) Creation of risk plan f) Creation of acceptance plan g) Creation of communication plan h) Creation of procurement plan i) Contracts with the suppliers j) Reviewing the success of this phase (Meredith & Mantel, 2012) Phase 3:

What we learned from History Essay Example | Topics and Well Written Essays - 250 words

What we learned from History - Essay Example American democracy involves diverse people and cultures hence the need for a history student to have the sense of â€Å"shared humanity† in a bid to understand resemblance, differences, and actions amongst them. Studying history on the other hand will assist students in discerning democratic facts from guesses besides grasping the idea of complex nature of democracy. Since studying history enables students to realize that not every problem has solutions, students will be able to understand technicalities involved within American democracy. Indeed, history will be very significant to understanding American democracy. In addition, there are many contributions so far made to extend democracy, liberty, and justice from the 1920s to present. America has for these decades promoted conditions and environments that nurture democratic society. Moreover, there have been extensive educational reforms that include teaching of the art of democratic politics. Such educational reforms have been necessary providing adequate understanding of American democracy, liberty, and justice. Gagnon admits that most of the democratic issues cannot be solved in neat and final ways except for educational reforms. In conclusion, the present generations need to do more than just study history in respect to democracy, liberty, and justice. The present generation needs to understand that democracy is a slow process that needs more than education. It is high time that the present generation got involved in fighting for justice and liberty as effective ways or enhancing democracy within the United States of

Fall Protection in Residential Construction Essay

Fall Protection in Residential Construction - Essay Example However, a number of Federal rules have recently been enacted to protect residential construction workers from falls as well as limit the occurrence of such accidents. The OSHA fall protection in residential construction requirements particularly describes a number of methods that can be used by residential construction employers to protect their workers against fall related injuries and deaths during the construction process. Despite providing a number of potential benefits including preventing loss of lives due to fall related accidents, fall protection in residential also comes with a number of challenges and limitations. This paper critically discusses fall protection in residential construction with particular focus to the examples advantages, disadvantages and consequences of the various fall protection regulations for residential construction. Fall Protection Standards and Regulations There are a number of both Federal and state regulations that have been primarily designed to provide technical measures aimed at reducing the number of fall related accidents and fatalities. Prior to the issuance of the new directive, OSHA’s interim fall protection compliance regulations provided most of the fall protection guidelines used in residential construction. ... One of the new compliance directives that were recently issued by OSHA is the requirement that all employees working at heights of six feet or higher must use safety nets, guardrails and fall arrest systems as part of their protection against fall related accidents. According to the new OSHA directive, fall arrest systems include wearing a full body harness, lanyard, deceleration device and an anchor point. The use of scaffold protects the workers from the falling related accidents during construction. The scaffold used in any construction must be unbending and appropriate in the weight it carries to prevent construction materials and workers from falling. The scaffold is advantageous for it is only in rare cases where it usually falls. These scaffolds are on the other hand of a disadvantage nature especially in cases of overload, where it has caused death of workers as a result of the falling materials. Well-fixed ladders and other important personal fall protection systems protect workers from falling while constructing buildings. The use of ladders enhances the workers can move to very high heights of the buildings without falling. The use of ladder is a technical means of construction for it requires a correct ladder for any chosen task. It on the other requires a capable person both visually thus making the ladder use disadvantageous. It is preferred in most cases because it a cheaper protection measure from falling. Additionally, depending of the circumstances, alternatives such as warning lines or restraint systems are often part of OSHA requirements for fall protection in residential construction. Nevertheless, OSHA can exempt construction employees from the full requirements of fall protection regulations if they are able to document and prove

Forensic Accounting in Practice Research Paper Example | Topics and Well Written Essays - 1500 words

Forensic Accounting in Practice - Research Paper Example Thus, this research paper will provide a brief understanding about the notion of forensic accounting in practice. Question 1 An ordinary accountant cannot always be an effective forensic accountant. In order to become an effective forensic accountant, he/she must possess certain skills and ought to evaluate those skills in profession. The most important five skills that a forensic accountant needs to possess have been described hereunder. Advanced education in appropriate discipline It is regarded as one of the most important skills to be acquired by a forensic accountant. The accountant needs to possess advanced education in appropriate discipline, which will be helpful in conducting his daily activities efficiently. The accountant must have a detailed knowledge about the aspect of auditing, analyzing the risks, identifying any sort of fraudulent activity and finding effective measures to solve those risks as well as fraudulent activities (Nunn et al, 2006). ... Communication skill The oral and written communication skill is required to be possessed by a forensic accountant. This skill is useful in performing various operational functions of a business in an effective manner. The forensic accountants need to communicate with various departments in order to analyze the financial affairs and also for detecting any fraudulent activity. Moreover, a forensic accountant requires communicating with the legal authorities for the justification of the fraud being performed within an organization (Nunn et al., 2006). Core skill Core skill refers to the fundamental characteristics of an accountant. This skill is often viewed to be the combined knowledge of the taxes and the business laws along with better education and experience. Thus, the accountants can utilize their core skills in determining tax systems of the organizations along with working in accordance with business laws and ethics (Davis et al., n.d). Enhanced skill The idea of enhanced skill refers to additional specializations that are acquired by the forensic accountants. The other knowledge which possessed by the accountants such as acting as the evidence of any fraudulent activity in the court room assists the organizations in running their business smoothly (Davis et al., n.d). Question 2 It has already been observed that the major responsibilities of forensic accountants are to analyze the financial affairs along with the detection of the fraudulent activities within an organization. However, the role of the accountants does not end at this point. They needs to act as an evidence of the fraud in the court room (Krstic, 2009). The forensic

Jack Gruber review Assignment Example | Topics and Well Written Essays - 250 words

Jack Gruber review - Assignment Example The website is extremely easy to navigate due to its simple design. The website takes least time to load its content thus considered satisfactory. The website design has considerable influence on the displayed works since it enables users to explore the website for all content that the photojournalist seeks to present to the viewers. The photographs that Jack Gruber has presented the viewers are displayed in flash thus enhancing the outlook of the website, in addition to presenting, the most eye-catching photographs to the viewers. The videos have been displayed with proper organization that makes certain that the video has an explanation of the events that were caught on camera. Every video has its own story thus reducing cases of confusion for the viewers. Other multimedia have also been aligned similarly to the videos thus maintaining uniformity. The website has a blog that offers the viewers a link to viewer the presented stories in detail. The website has contact and biographic information concerning the photojournalist that allows viewers to communicate with Jack Gruber through either e-mail or phone (Jack). Viewers have been requested to connected and search archives under a category for archives. Additionally, the website contains a category for published works. Therefore, the website can be deemed to maintain personal

Informative speech Essay Example | Topics and Well Written Essays - 750 words

Informative speech - Essay Example There are many facts you must know about folate. Folate is a very important water-soluble B- vitamin found in a variety of foods. Its natural source is vitamin B9 found in peas, dried beans and other green leafy vegetables. As an additive in its synthetic form folate is found in bread, cereal and grains and is referred to as folic acid. It is also â€Å"found in supplements and added to fortified foods.† (Herbert V. 1999) Folate is indispensable to pregnant and nursing mothers because it helps in the rapid division and production of new cells and also prevents anemia during pregnancy. Some of the foods that are rich in folate are green leafy vegetables, such as spinach and turnip greens. According to the book, Nutrition Concepts and Controversies published in 2006 by Whitney and Sizer, folate is also found in asparagus, broccoli, and spinach. Fruits such as citrus and other juices also contain folate. Folate is also present in dried beans and peas. In 1996, the Food and Drug Administration (FDA) published regulations requiring the addition of folate to enriched breads, cereals, flours, pastas, rice, and other grain products which are consumed in good quantity and contributes a good deal to the American diet. According to the reports on the â€Å"The Recommended Dietary Allowances† (RDA) on the amount of folate necessary for children is 200 micrograms, for adults it is 400 micrograms and for pregnant women it is 600 micrograms of folate. .Folate deficiency results from the inadequate intake of folate. The book Clinical Spectrum and Diagnosis of Folate Deficiency published in 2001 by Allen Lindenbaum, explains that medication such as aspirin and other drugs used to treat cancer and alcohol abuse reduces the body’s ability to absorb folate. Folate deficiency in children results in poor or very slow overall growth rate. . In adults, the symptoms include diarrhea,

'A literature review to investigate the effectiveness of external beam Dissertation

'A literature review to investigate the effectiveness of external beam radiotherapy when used as an adjuvant therapy to treat pr - Dissertation Example ........................6 2.6 Chapter One - Introduction†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦............7 2.7 Chapter Two - Literature review†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.10 2.8 Chapter Three - Methodology†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..16 2.9 Chapter Four - Results†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.22 2.10 Chapter Five – Discussion†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.28 2.11 Chapter Six - Conclusions†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.34 2.12 References†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..37 2.13 Bibliography†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..39 2.2. Signed statement I hereby declare that the text of this d issertation is substantially my own work. X______________________________________________________________________ 2.3. Abstract (300 words) Aim. In the United Kingdom prostate cancer will affect one in fourteen men during their lifetime. Successful treatment is greatly improved by the early detection. The aim of this literature review was to assess the effectiveness of external beam radiation therapy (EBRT) in the treatment of localised prostate cancer compared to radiotherapy combined in tandem with either hormonal therapy, chemotherapy, or surgery. Consequently the hypothesis suggested was that EBRT is more effective in combination with another therapy instead of just being applied by itself alone. Commonly, external beam radiation therapy is also used in tandem with hormonal therapy if the prostate cancer is already well-advanced—but this isn’t an endorsement of one therapy over another. Methods. A literature review was conducted to collect information on the effect iveness of the four therapy techniques. A total of 40 sources—comprised of journals, books, articles, and web resources—were critically evaluated and summarily reflected upon for ease of data analysis. Findings. The findings demonstrated that EBRT is more effective when used in tandem with another form of therapy. This suggests that if EBRT is going to be one mode of treatment, another mode of treatment that should be considered is either hormone treatment, chemotherapy, or surgery. EBRT alone by itself, as demonstrated by the research reviewed, may not be enough in order to effectively treat prostate cancer aggressively enough. Conclusions. Due to the findings of the research reviewed, the hypothesis was proven correct as it was seen that EBRT was indeed more effective when combined in tandem with another one of the three forms of therapy discussed above in the treatment of localised prostate cancer. It is recommended that more research is needed in order to effective ly decide which type of treatment is ultimately the best type of therapy. The conclusion will discuss. 2.4. Acknowledgements I would like to thank my supervisor, who has been my mentor for this entire project and without whose help this project could not have been fully realised or implemented. 2.5. Glossary Technical Terms Definition hormonal therapy the use of hormones in medical treatment Abbreviation Meaning BPH benign prostatic hyperplasia CRT three-dimensional conformal radiotherapy EBRT external beam radiotherapy IMRT intensity modulated radiotherapy 2.6. Chapter One - Introduction (1000 words) The purpose of this project is to look into the relative effectiveness or ineffectiveness of external beam radiotherapy treatment when used as an auxiliary (or adjuvant) therapy in order to aid in the treatment of prostate cancer and to investigate whether there are

The significance of the post-war settlement Essay Example for Free

The significance of the post-war settlement Essay After World War 2, the extent to which participating countries had lost acted as an eye opener. What these countries expected never came to be. Having fought in war 1, and then war 2, most resources were running towards depletion and worst of all masses of people lost lives, economies, weakened, infrastructure destroyed and industrial development totally demerited. Post war era was the start to a new world order mainly to be characterized by peace, potency, mutuality and prosperity. After World War 2, every country that had taken part in it was left on a stand still. Having invested most of the resources in the war that turned out to be fruitless, it was a turning point for a majority of them. Governments had to work out new sources and systems of accumulating capital, re-institutional arrangements. The period around and after World War 2 led to advancement and fundamental industrial relations re-birth. The development at that time reflected positive future stability and durability. In the whole continent, only Sweden and Switzerland experienced tranquility. All the other countries were faced with war, colonization and enmity. Post war reconstruction of national boundaries, economical atmosphere and political systems facilitated unprecedented significance in development. The change in economical, institutional perception and perspectives is a niche definition of my understanding of post war settlement. (Fulcher,1987). In my discussion, I will scrutinize two global economical giant countries, which are Germany and Russia. To start, after World War 2 life was indeed very tough in the Federal Republic of Germany, with almost all systems in a shattered condition. Very hard living standards came up as a result of food shortage, diseases, instability, lack of job opportunities and unemployment. As a result activism and demonstrations took center stage, this was made possible by the Germany’s unionification. All employees were under the same confederation, which pushed for further reforms putting better living standards in their priority. This move turned out successive due to the fact that employees and unions existed on a mutually potent relationship, that is, one could not live without the other. Citizen thought that separation of politics and industrial issues would be a merit to their welfare. Another development that followed in turn was economical stability and expansion. To boost their progress, Britain sent food relief in 1946. Later on, Germany saw itself join membership of EEC in 1957 through the help of a strategic plan known as the `Marshal Plan’. Old industrious organizations, firms and companies remain stable as growth began to be felt. Post wartime is seen as a stability period in most countries that experienced the effects of war- Volkswagen, the automobile manufacturer is one of the companies that lived on and continue to today. Germany was forced to concentrate all it effort in policies and strategies towards economic growth. They had to halt active political presence for decades. With serious considerations being put into practice, Germany woke up to an economic excellence. As an advantage of post war activity, Germany became, and still is, among the giant economical strengths in Europe and universally. In a bid to bounce back, post wartime witnessed the practice of mass production, industries embarked on manufacturing of goods in surplus. As a result it attracted German citizens to mass consumption. This was a great move since the more they produced the more it was consumed. The gross net profit grew drastically so did their economy. Life felt cozier as job opportunities increased because of the mushrooming of many industries. Politically the country was shaped newly completely for quite a long time, at one time Germany had to lay low. They had been toppled completely and their Nazi regime wrecked down. This turn of events saw its leaders tried at Nuremberg for crimes against human rights, they had to face justice in their own home place or rather their site of propaganda brilliance. (Skidelsky, 1979) Although the late tyrant leader Adolph Hitler escaped trial and execution at that time: he later committed suicide in Berlin, at the end of the war. He felt so intimidated of the counts he would be changed for. World War 2 left many German capital towns in ruins from the massive bombings carried out in it. Germany was segregated into zones by capability and powers; this in turn resulted to a permanent political stability and settlement. The European Union that strongly stands out today has it motherly roots from world war 2 time. In fact it grew from the European Coal and Steel Community (ECSC), Its primary intention was to develop the steel and coal resources from member states, support and boost their economies.the ECSC facilitated the diffusion of the tensions that had resulted between enemy countries in world war 2. With time, this economic co-operation/merger grew enoumously , adding in new members hence broadening their scope, later the European Union was formed from EEC, European Economic Community. Many other prominent organizations today have their history date back to World War 2; for example, the world trade organization,WTO, the United Nations, the international monetary fund IMF, the World Bank in which then West Germany but now Germany had taken part in its formation and stand as members. Another very important significance is the evolution of initial and the follow up of advanced technological progress that had captivated interest during the war. The development was reflected in almost all industrial fields: in electronics, computers. These advancements helped Germany create the foundation for its realization into further development. This finally transformed to what was referred to as the post world war 2 world. The new technology, assisted in the efforts to fight diseases that had erupted during the war. Massive research, monitoring, evaluation and development, quickly attained nuclear power which had adverse impacts on the scientific fraternity, creating a network of laboratories in the whole country therafter . In addition, the struggling to crack codes initiated computer technology. There were social effects too which significantly changed almost all war participants to new degrees. One of them was increased involvement of women in the working force which replaced the place taken by many men during the war: though this initiative was reduced in the following years, due to the fast changing society. The system forced women to taking care of home and family oriented matters.(Rowthorn en.others,1992). In military aspects, the World War II had established the beginning of airpower. Germany could not be left out, this was an opportunity to draft active self defence system. They highly concentrated on project they had earlier established. Advanced aircraft composing of aeroplanes, jet fighters and missiles developed earlier saw further developments. Battle ships and tanks sprout out into the ever growing competition, with guns and ammunination reaching to leathal dynamics. Air power capability is today a constituent in any military operation or mission. (Seidman,1950) Russia on the other hand is said to be the main beneficiary when border revision was done. It saw Poland, Finland, Romania and other countries pushed into Russian boundery in their favor. Germany was not considered in the process. As a result their land area became larger creating room for development. Infrastractural systems remain almost the way they used to in Russia. Only few places had their system completely damaged. Compared to Germany, this was better off since repairs would cost less. Post war saw Germany’s roads and communicational networks left completely in a shuter. Though very many people lost lives during world war 2, in Russia than in Germany, at some point their demograpfic figure took a new turn. This was alos facilitated by increased agricultural activity. Most of Russia’s citizens depended on agriculture, fishing, forestry, or craftworks. Due to increment on the agicultural industry, their economical strength also took a stable ground-this is a major similarity that was experienced in almost all countries that had experienced war. (Gourevitch ,1985) Immortatility rates decreased and in turn working population had a future expectation. Hunger was kicked out and fertility saw the countries graphs rise demeritically. Having food and medicine eradicated the diseases that had become threatening. Politically, Russians remained constantly active compared to Germans who had to gio slow for decades. This was a crafty thing to concentrate on after the war. The approach given was also great to say, it was trying to balance business and politics. Like their counterparts the Germans, unemployment at the beginning of world war 2 hit their population badly, this led to workers demonstrations all over the country. Trade unions at the time wanted drastic change to help improve their living standards. This though was not left to spread like any other bush fire, heavy police and army contigence ensured that a runing battle existed toi keep the country tranquil and the demonstrators at bay. (Taylor,1989) Russia had severe problems following their decision to turn captured prisoners of war into plantation slave labourers. This is another reason that led to activism towards fighting for humanity/human rights. Every significant effect practiced found its relation with industrial settlement. Looking at their military state, Russia developed also in terms of strategic ideas and policies. Industrial inovations led to further outstanding developments in their manufacturing industry. This move also resulted to an interest in nuclear power. In fact, Russia heavilly invested on the project. Facing challenges though, the idea had to be carried out in top secresy due to the effect that had been seen at Nagasaki and Hiroshima. (Ferner en. Others,1994 World super power countries felt empathetic of what had happen and so took it as a mandate to control nuclear power. Countries would only be allowed to use it for developmental purposes and destruction. Russia was the most highly sort after provider of nuclear energy. They made tremendous sale that in turn aided them in developing the state. It also provided job opportunities to it people. Peace settlements characterised both Germany and Russia, this positive move indicated brighter future. Since Russia was facing challenges of cold war because of several stauch stands on their accord they saw it an apportunity to reconcile with enemy states together with Germany. The negotiations indicated that the initiative was to be the last war and a new beginning to everlasting peace. They agreed at all peace summit meetings held in Paris that idealism would take over rivalism. This was further pushed by existence of the league of nations. Expectations reached as far as waterways internationalization. This was a step ahead towards cohesive industrial relations. Independence was being experience in countries that had been colonized by Germany, they had decided to let own rule and democracy prevail. In contrary though, Russia in their side continued too occupy countries like Latvia and others with iron and steel mineral deposits or resources. Though they remain under Russia these countries witnessed new traditions that in deed very good. There was self freedom for everyone, movement was very safe generally. As a result, people grew some self determination which help industrialize Russia particularly, it was all busy-busy to earn a living a condition that turned out to be very superb.( Ryder, 2008) Preparations for compensation is another significant effort that saw ist launch in Germany more than Russia, a lot appeared to be done by Germany to cater on the aspect of enmity/crisis and conflict. Russia became laxile on this one which negatively impacted on their relationship with most countries. In turn, their industrial relations and development faced difficulties and setbacks in their wake to cold war period thereafter. Property ownership was also top after world wra 2, normally public resources were subject or prone to seizure or confiscation, by the then victorious super power countries. Many industries saw ownership and income channelled to their banks but after the war, rules changed. This saw native citizens own proprerties, industries, plantations which was a brilliant sign that the world was changing. This brought an understanding between waring communties who had different and diverse cultural variance. Although Russsia as well as Germany felt like they had lost or unfortunately settled at nothing compared to first world war, They later realized that peace was even sweeter and priceless, at some point. World war 1 settlement was not perfect, that is why war two broke out but this time around, it would be the last time blood spilled. People in fact were turning closer to God at the time, in Germany for example it saw the demise or end of the rough Nazi regime, churches were established in the folloe up.Stability in capability to keep and maintain order is something that came in world war 2 post war settlement. As a result of peace prevalence all the energies were shifted to industrial innovations and development in both Germany and Russia. In conclusion, it can said that the significance of post world war 2 was almost the same in both these two countries. The extent to which states experienced the war was relative to how harder they would be forced to work in order to achieve stability. For instance, Germany had suffered majorly in most important industries plus they had their reservouir flow of capital from their colonies in Europe and other continents stop in the wake of freedom and independence. Although it was almost incapable to bounce back they had undying determination.( Theory, 2008) On Russia case is all the same thing in all industrial developments, only that they had resources and capital that made it easier on them to progress. Politically, too, they saw a major and notable change but not as in Germany whose Nazi regime end and Hitler’s death became the starting point to humanity, democracy and of course their core economical booster indistrial stability. Reference: Fulcher J(1987). `Labour Movement Theory versus Corporatism`, Sociology Vol. 21 no 2, pp 231-252 Hyman R in Hyman R. and A. Ferner(1994) New Frontiers in European IndustrialRelations Blackwell London, Chapter one Jukka Pekkarinen, Matti Pohjola, and Bob Rowthorn (1992). Social corporatism asuperior economic system? Clarendon Press330.17 Joel Seidman(1950) Industrial and Labor Relations Review, Vol. 4, pp. 55-69 Published by: Cornell University, School of Industrial Labor Relations Peter Gourevitch (1985) Unions and Economic Change: Britain, West Germany and Sweden 331.881 GOU Ryder (2008) Post war economy: retrieved from the World Wide Web at http://www.geocities.com/Athens/Rhodes/6916/ww2.htm Skidelsky R (1979) The decline of Keynesian politics: State and economy in Contemporary capitalism: Croom Helm edition, London Taylor A J (1989) Trade Unions and Politics: a comparative introduction,Basingstoke,Macmillan Theory (2008) The world since 1945: retrieved from the World Wide Web at http://www.flowofhistory.com/units/etc/19/FC128

What Is System Unit?

What Is System Unit? System unit is a case that contains electronic component of the computer used to process data. The case of the system unit, sometimes called the chassis, is made of metal or plastic and protects the internal electronic components from damage. Explain the electronic components in system unit and its function. Question 2 An operating system (OS) is a set of software that manages computer hardware resources and provides common services for computer system. Explain the different types of Operating system in market and what the advantages and disadvantages of each Operating system. Q1 Introduction What is system unit? System unit is Box-like case that houses the electronic components of the computer used to process data. System Unit is the core of a computer system, system unit always is rectangular case that houses the electronic components inside the computer. That usually its rectangular box placed on or underneath your desk. Inside the box got many electronic components that process information. The most important part of these components is the central processing unit CPU, or microprocessor, which acts as the brain of your computer. Another component is random access memory (RAM), which temporarily stores information that the CPU uses while the computer is on. The information stored in RAM is erased when the computer is turned off. Almost every other part of your computer connects to the system unit using cables. The cables plug into specific ports, typically on the back of the system unit. Hardware that is not part of the system unit is sometimes called a peripheral devi ce or device. Dual inline package (DIP), which consists of two parallel rows of downward-pointing thin metal feet (pins). Pin grid array (PGA) package, which holds a larger number of pins because the pins are mounted on the surface of the package. Flip chip-PGA (FC-PGA) package, which places chips on the opposite side (flip side) of the pins. Single edge contact, which called as SEC as cartridge, and it allow us to connects to the motherboard on one of its edges in system unit. Function The system unit, sometimes called the chassis, is a box-like case housing the electronic components of a computer that are used to process data. System unit components include the processor, memory module, cards, ports, and connectors. Many of the system units components reside on a circuit board called the motherboard. The motherboard contains many different types of chips, or small pieces of semiconducting material, on which one or more integrated circuits (IC) are etched. An integrated circuit is a microscopic pathway capable of carrying electronic current. Each IC can contain millions of transistors, which act as switches for electronic signals. A system unit is a case that contains electronic components of the computer used to process data. The most common components are inside a system unit are; the processor, ports, drive bays, power supply, memory and adapter cards example; sound card, video card, network card and modern card. The case of the system unit, sometimes called the chassis, is made of metal or plastic and protects the internal electronic components from damage. Motherboard is also a main circuit board in system unit, it contains adaptor cards processor and memory chips, it can be called as system board too or more. What electronic components are found on the motherboard? Chip is also a part of the system units for electrical components. Integrated Circuit (IC) Microscopic pathway capable of carrying electrical current and it also is included include in the motherboard. Transistor Acts as an electronic switch, or gate, that opens or closes the circuit for electronic signals A chip is a small semi-conducting material where integrated circuits can be etched. Chips are packed in a certain way so they can be connected to a circuit board. Integrated circuits have many microscopic pathways, that capable of carrying electric current. Chip available for different kind of it, single edge contact (SEC) cartridge, dual inline package (DIP), flip chip-PGA (FC-PGA) package and pin grid array (PGA) (CPU) Central processing unit; The CPU carries and interprets basic instruction that can operate a computer. The control unit coordinates operations in a computer. Interprets and carries out the basic instructions that operate a computer. The Arithmetic logic unit (ALU) does arithmetic, comparison and logical operations. This can also be known as the processor and also called the processor. Random access memory (RAM) is one of computer most important part inside a computer because, RAM is a random memory access, one of the memories in our computer and it can be accessed randomly. The byte of the memory in our computer can be access without touching the preceding bytes. RAM is the most common type of memory found in computers and other devices, such as printers. There are two type of RAM one is call Dynamic Random Access Memory (DRAM) and the another is Static Random Access Memory (SRAM) this two types of RAM differ in the technology they use to hold data, with DRAM being the more common type. In terms of speed, SRAM is faster. DRAM needs to be refreshed thousands of times per second while SRAM does not need to be refreshed, which is what makes it faster than DRAM. DRAM supports access times of about 60 nanoseconds, SRAM can give access times as low as 10 nanoseconds. Hard disk is also one of the electronic components in system unit. The disk can let you store your computer data. Hard disk holds more data and is faster than floppy disks, and a single hard disk can store more than 100 gigabytes (GB), whereas most floppies have a maximum storage capacity of 1.4 megabytes. Each platter has the same number of tracks, and a track location that cuts across all platters is called a cylinder. For example, a typical 84 megabyte hard disk for a PC might have two platters (four sides) and 1,053 cylinders. In general, hard disks are less portable than floppies, although it is possible to buy removable hard disks. Conclusion As conclusion, system unit is about computer system inside the computer itself and it can be check from the inside if got anything wrong with it, components and processes of a computer system that is used for an everyday activity. Learn about the system inside of a computer and how it runs inside when we see it from the outside. Q2 Introduction Operating system is software that which takes care of technical aspects of a computers operation. Most of the desktop or laptop Pc comes preloaded with Microsoft windows. Macintosh (Apple MAC) computer come preloaded with MAC OS X. Many corporate servers use the Linux or UNIX operating systems. The operating system (OS) is the first thing loaded onto the computer without the operating system, a computer is useless. Some operating systems also provide text editors, compilers, debuggers and a variety of other tools. Since the operating system (OS) is in charge of a computer, all requests to use its resources and devices need to go through the Operating system. Window Microsoft Windows or better known as Windows is a family of operating system developed by Microsoft, using the graphical user interface. Window operating system have evolved from the MS-DOS, an operating system based on text mode and command-line. The first version of Windows, Windows Graphic Environment 1.0 was first introduced on 10 November 1983, but only out of the market in November 1985, which was made to meet the computer needs to display a picture. Microsoft Windows can be developed and can be controlled using the operating system up to 90%. Price of Microsoft Windows can run between $50.00 $150.00 US dollars per each license copy. Microsoft has made several advancements and changes that have made it a much easier to use operating system, and although arguably it may not be the easiest operating system, it is still Easier than Linux. Although Microsoft Windows has made great improvements in reliability over the last few versions of Windows, it still cannot match the reliabil ity of Linux. Because of the large amount of Microsoft Windows users, there is a much larger selection of available software programs, utilities, and games for Windows. Although Windows does have software programs, utilities, and games for free, the majority of the programs will cost anywhere between $20.00 $200.00and US dollars per copy. Because of the amount of Microsoft Windows users and the broader driver support, Windows has a much larger support for hardware devices and a good majority of hardware manufacturers will support their products in Microsoft Windows. Although Microsoft has made great improvements over the years with security on their operating system, their operating system continues to be the most vulnerable to viruses and other attacks. Microsoft Windows is not open source and the majority of Windows programs are not open source. Microsoft Windows includes its own help section, has vast amount of available online documentation and help, as well as books on each of the versions of Windows. Linux Linux is a Unix-like computer operating system assembled under the model of free and open source software development and distribution. The defining component of a Linux system is the Linux Kernel, an operating system kernel first released October 5, 1991 by Linus Torvalds. Linux system distributions may vary in many details of system operation, configuration, and software package selection. Linux runs on a wide variety of computer hardware, including mobile phones, tablet computers, network routers, televisions, video game consoles, desktop computers, mainframes and supercomputer. Linus is a leading server operating system, and run the 10 fastest supercomputer in the world. In addition, more than 90% of todays supercomputer runs some variant of Linux. The majority of Linux variants are available for free or at a much lower price than Microsoft Windows. Although the majority Linux variants have improved dramatically in ease of use, Windows is still much easier to use for new computer users. The majority of Linux variants and versions are notoriously reliable and can often run for months and years without needing to be rebooted. Linux has a large variety of available software programs, utilities, and games. However, Windows has a much larger selection of available software. Many of the available software programs, utilities, and games available on Linux are freeware or open source. Even such complex programs such as Gimp, OpenOffice, StarOffice, and wine are available for free or at a low cost. Linux companies and hardware manufacturers have made great advancements in hardware support for Linux and today Linux will support most hardware devices. Many of the Linux variants and many Linux programs are open source and enable users to customize or modify the code however they wish to. Although it may be more difficult to find users familiar with all Linux variants, there are vast amounts of available online documentation and help, available books, and support availa ble for Linux. Mac OS Mac OS is a series of graphical user interface-based operating systems developed by Apple Inc. for their Macintosh line of computer systems. Mac OS is credited with popularizing the graphical user interface. The original form of what Apple now calls OS X was the integral and unnamed system software first introduced in 1984 with the original Macintosh, and referred to simply as the System software. Apple deliberately sought to minimize the users conceptual awareness of the operating system: Tasks which required more operating system knowledge on other systems would be accomplished by intuitive mouse gestures and simple graphic controls on a Macintosh, making the system more user-friendly and easily mastered. This would differentiate it from then current systems such as MS-DOS which were more technically challenging to operate. The core of the system software was held in ROM, with updates provided free of charge by Apple dealers (on floppy disk). The users involvement in an upgrade of the operating system was also minimized to running an installer, or simply replacing system files, the simplicity of which again differentiated the product from others. Mac OS is not susceptible to the virus. Designed with security oriented, Mac OS is not plagued by constant attacks from PC viruses and malware. But neither will slow you down with constant security alerts and other interruptions. High performance, especially on Mac OS X with the latest Intel Processors and other innovations, the Mac can do all things that only Macs can do with amazing speed. User friendly, GUI with a very attractive appearance, making the Mac OS as one of the OS are in great demand especially by graphic designers and for those just learning the computer. Mac cannot be assembled because Apple is not giving license to other companies to make hardware that can use the Mac OS. Software on the Mac OS is not so complete. Influence the dominance of Microsoft Windows for years have been very familiar to user s and are reluctant to adapt to the new OS. The same rational is also the reason for the abundance of recent applications to the Windows system requirements. Cost is very expansive. Mostly is only useful for graphic designers. Cannot be used in conjunction. The software is incomplete and not suitable to play the game because it looks less good. Conclusion Every operating system is a successfully creation because it all operating well and keep on developing and update it help human a lot. Nowadays computer is part of our humans, almost everything occurs in our daily life is using computerized. Every different operating system has its own plus and minus points. There was no The Best but only will The Only. Different operating system works well with different people, is all depending on the usage of the people.

An Introduction To Toyota Motor Corporation Marketing Essay

An Introduction To Toyota Motor Corporation Marketing Essay In 1933 company was founded by Kiichiro Toyoda. In 1934 department of Toyota industries manufactured first product the product called Type A engine and its first passenger car AA in 1936. Toyota bought some other companies also and own and operates Lexus, Scion, Daihatsu and Hino Motors and shareholdings in Fuji heavy industry, Isuzu, Yamaha, and Mitsubishi Aircraft Corporation. All these and some other in total includes around 522 subsidiaries. Toyota is headquartered in Toyota City, Aichi and in Tokyo. Instead of automobile Toyota also provides financial services through its division Toyota Financial Services and also builds robots for different industries. Toyota Motor Corporation its financial services and Toyota Industries all together form the bulk of the Toyota Group and one of the largest conglomerates in the world. Toyota is worldwide famous and well known company because of their high quality manufactured cars, Toyota is doing very well and growing very fast globally they have their operations, manufacturing facilities and valuable loyal customers all over the world. The new technology Hybird in Toyota cars gave a new pride to Toyota and the sales of Toyota going up day by day. In last few years Toyota became number one in automotive industry and became a number one in mostly selling their cars worldwide. Below chart shows the figures of manufactured cars in 2008 and the chart is showing other companies production also. In 2008 Toyota overtook GM and automotive industry announced Toyota the world biggest carmaker. But after that complains started arising and more customers stated blaming about the quality controls because of their rapid expansion. Due to the rapid expansion they recalled more than eight million cars in year 2009 the brake and accelerator defects and bearing, defending their selves against 98 lawsuits due to the deaths, injuries and damages happened to customer who were using their cars. http://news.bbc.co.uk/1/hi/8626668.stm Toyota products were in high demand worldwide and they had a time when they felt they might not be able to meet the demand of customers but they were selling as normal routine and increase the production with huge volumes and increase the manufacturing speed. Contacted and started working with more suppliers for different parts which they are use to buy from different suppliers. Toyota Executives and Mr. Akio Toyoda had a strong feeling that working with new and more suppliers might give a bad impact for their quality and they might not be able to control well. They had very busy and high demand for their cars instead of finding good solution to cope this situation they didnt go for more alternatives like booking, reservation for cars instead of doing this they gave focus on rapid expansion. Rapid expansion met the demand of customers but on the other hand gradually they started receiving complains from their customers. In one period they were aware of the problem but they didnt recover it and took it easy which later returned back as a big problem for Toyota and did huge quantity recalls which cost a lot. Rapid expansion helped but put them in big problem also they lost the quality control and the spare parts purchased from different suppliers were the big problem also. They have basically three types of suppliers: Tier One Suppliers Tier Two Suppliers Tier Three Suppliers The car makers manufacturing system is known as Original Equipment Manufacturers, or OEM. After OEM system then they reply on Tier One Suppliers, Tier Two Suppliers and finally Tier Three Suppliers. Tier one supplier such as Bosch, Denso, Continental, Delphi, Valeo and Tenneco. These companies deliver big integrated system directly to the OEM. Tier two suppliers provides individual products to Tier one or directly to OEM. Tier three supplier make single products and deliver to Tier two suppliers. Due to the high demand of products the supplier did big mistakes and put Toyota in big problems. The unintended acceleration was problem happened because of the Tier Two Supplier. In Tier one supplier category they have few suppliers and they never faced any problem while working with them. But on Tier Two and Tier Three they have thousands of suppliers around the world which is quite hard for Toyota to control closely to all of them. OEM working smoothly closely with Tier One Suppliers but facing many problems with their thousands of Tier Two Suppliers and Tier Three Suppliers. These problems are increasing and they are losing market grip and the customers trust because of these kinds of inefficiencies and less quality control standards. Toyota Lean Production System Lean Production/Manufacturing Lean production is a model followed very well by Toyota which helped a lot to improve their working conditions and helped them to save time and money. The main concept behind this word lean is more outputs against less input in less time. The main sources of this less input are money, work force, working space, inventory and time. These wastes needs to be eliminated, in other words lean production means to minimize the waste and make easy, simple steps and speed up the working results. Toyota Production system called as lean manufacturing also because they introduced and worked on this concept of saving extra wastages. The system eliminates the overproduction, waste, useless transportation, inventory, motion, defective goods, over processing, waiting and implementation of the concepts like continuous flow and customer pull. The major areas which are very considerable and main causes are: Quality Delivery Safety Costs Morale Diagram showing components of Lean Production System Advantages of Lean Production Lean manufacturing helped Toyota to achieve many targets with the help of this system they achieved many benefits which helped them to save money, time and work force and many other factors also that indirectly strengthen the company and help their market share grow worldwide significantly. Within few years the lean production helped them to reduce wastages by around 80% which is very high for this type of big company, production costs were reduced by 50 percent and manufacturing cycle time decreased by around 50 percent also. Inventory reduction reduced significantly which helped them to save space for storing and work force decreased by 50 percent also. These reductions encourage them to increase facilities for employees and customers, improved the working environment. Friendly, comfortable working environment encourage employees and it helped to have higher quality and higher profits. They achieved many benefits through great system flexibility, more focus and good flow of shipping and billing frequencies. Below mentioned chart illustrates very clearly the different between the traditional manufacturing system and lean manufacturing system. Production system of 20th century was recognized as a mass production system of Toyota and lean production system is taken as 21st century production system. Toyota Production System (TPS) TPS based on 7 basic principles which really helped them to have good approach to meet the demand and in a good satisfied manner. The principles they followed tried their best to reduce setup time and to have better quality focused on small lot productions. Encourage and involved employees gave them job security and rights to involve and give full participation and their thoughts for improvements, quality increment and maintained the equipments with great new changes. Involvement of suppliers of all three types and the pull production is a part of those 7 basic TPS principles. http://www.1000ventures.com/business_guide/lean_production_main.html Toyota Supply Chain Management Supply Chain Management Any company manufacture products and at the same time buy products from different suppliers and then these products sold to their customers, this procedure called supply chain. Supply chains are simple and difficult too depends on the company size and the products produced by them. There are some elements involved in supply chain which are customer, purchasing, planning, transportation, production and inventory. Those people who manage all these procedures involved in this case known as supply chain management. To make it sure that supply chain operating are efficient and producing high level of customer satisfaction and trust at low costs, companies adopted supply chain management technology and processes. The three basic activities involved which company follows which are: Operational Tactical Strategic To make it quicker companies bought and use special technology software which helps to have quicker information between customers and suppliers. ERP, SAP and Oracle are mostly used to give and take latest updates. http://logistics.about.com/od/supplychainintroduction/a/into_scm.htm http://www.mhprofessional.com/product.php?isbn=0071615490 All major automotive companies use supply chain management and lean production system. The rapid expansion gave big impact on its supply chain, when the requirement to expand the supply chain it meant they need to work with many unfamiliar and new suppliers who was not aware and dont had deep understanding of the culture of Toyota. In 2008 Toyota used parts which were not completely controlled and the chain didnt focus that much because of the rapid expansion and high demand. http://www.economist.com/business-finance/displaystory.cfm?story_id=15576506 The company did a big mistake too highly depending on the supplier which are outside Japan, it would be better to have few suppliers and near and in approachable market where they can control easily. Toyota needs to have closer monitoring on supply base especially for tier two and tier three supplier. Due to the rapid expansion the supply chain also disturbed because of many reasons, its hard to work with new supplier suddenly and who are not aware well to our company structure and culture. http://forums.industryweek.com/showthread.php?t=14131 Success Lean production system, supply chain management and the concept of product life cycle which is well followed by Toyota helped Toyota to reach the highest level in automotive industry. Other inspirations within organization also make a big contribution like an internal blog, rewards, hold creativity and ideology sessions, give positive feedback and respond to suggestions, celebrate on success, encourage risks celebrate failures too, use of mind maps, mix up work teams, understand consumer behaviour and innovation links to Jobs. http://news.bbc.co.uk/1/hi/business/4015831.stm http://videos.cnet.co.uk/39042972.htm Recommendations Toyota OEM is working closely to their Tier One Supplier and having good results, few suppliers come under Tier one category they have long term relations and never faced any problem regarding quality or other related issues. But Toyota has faced many issues and still facing and having problems with their Tier two suppliers and tier three suppliers. During rapid expansion they increased the quantity of suppliers and they were not aware completely about Toyota cultures and Toyota even could not check and focused that well on their supplies. They did a big mistake to reply on new and thousands of suppliers in Tier one and Tier two categories and other big mistake was they replied on those suppliers which are outside Japan. I would say it would be great if they take extra time for deliveries give more attention on lean and supply chain. Try to decrease the number of tier two and tier three suppliers try to list them and have few which are according to the Toyota standards. Give more focus on quality controls and the team must make sure there will be no space for recall after handover the vehicles to the customers. Chapter 3: Conclusion In short Toyota is doing well in the market and going at the highest level of their successes. Enjoying being number one in the automotive industry, ranks number one in highest units selling cars worldwide. Regularly struggles and keeps trying bringing innovation to their products helped them to be number one innovative company in the world. Toyota Prius Hybrid innovation gave more value to Toyota Corporation, after introducing Prius I and II finally they introduced new Prius III with many more facilities and functions for drivers to enjoy the journey and daily life on road while travelling to jobs, offices etc. Overall if you see they are doing well but from 2008 after rapid expansion and when they took over GM after that they started facing issues and complain. They are trying their best to cope and tackle this hard time, recalling all vehicles which parts are needed to exchange and working to get quality promised parts form their tier two and tier three suppliers. List of Sources Internet: Manchester Business School [Online] (Cited 24 November 2009) Available from Paggu [Online] (Cited 28 November 2009) Available from Exeter Business School [Online] (Cited 27 November 2009) Available from Yo Goy [Online] (Cited 27 November 2009) Available from Automative Industry [Online] (Cited 22 November 2009) Available from London Government Uk [Online] (Cited 2 December 2009) Available from Working Knowledge [Online] (Cited 2 December 2009) Available from MSN Autos [Online] (Cited 30 November 2009) Available from http://www.mhprofessional.com/product.php?isbn=0071615490> All Hybrid Cars [Online] (Cited 27 November 2009) Available from BBC News [Online] (Cited 26 November 2009) Available from CNET [Online] (Cited 27 November 2009) Available from Toyota [Online] (Cited 29 November 2009) Available from http://blogs.hbr.org/cs/2010/03/dont_believe_everything_you_re.html?cm_mmc=npv-_-DAILY_ALERT-_-AWEBER-_-DATE Literature: E Ghaziri, H.M (2003) Knowledge Mangement (5th Edition). Prentice Hall Harvard Business Review on Innovation. Harvard Business School Press Joe Tidd and John Bessant, (2009) Managing Innovation: Integrating Technological,(4th Edition) Market and Organizational Change by Paperback April 2009. Semsar, E. (2009),Strategic Innovation Marketing 21 January 2009, London Chris Freeman Luc Soete (2005), The Economics of Industrial Innovation Chapter 8, page 197 to 204.

Comparing Measure for Measure and The Merchant of Venice, As You Like I

Parallels between Measure for Measure and The Merchant of Venice, As You Like It, and Twelfth Night What is comedy?   Funk and Wagnalls New Encyclopedia says: "A comedy depicts the follies and absurdities of human beings."   Webster's Dictionary defines comedy as: "A drama or narrative with a happy ending."   Shakespeare's play, Measure for Measure, fits both of these descriptions.   Follies and absurdities are present in the play: Lucio slanders the Duke, not realizing that his crude remarks are being spoken to the Duke himself; Angelo abuses his power thinking that the Duke is not present to know; and Ragozine happens to die in prison the day a head is needed to substitute for Claudio's.   The play also ends on several merry notes, consistent with the definition of comedy.   For example, Angelo's life is spared and he is forgiven; Mariana is married to Angelo; the Duke punishes Lucio humorously with marriage; Barnardine is pardoned; and Claudio is saved.   The parallels between Measure for Measure and three other Shakespearean comedies, The Merchant of Venice, As Yo u Like It, and Twelfth Night, also help to classify Measure for Measure as a comedy.   In Measure for Measure, like in The Merchant of Venice, As You Like It, and Twelfth Night, an arbitrary law or obstacle is eventually overcome; a disguised character affects the outcome of the play; a clown adds humor to the plot; a female character bears a large responsibility for the final resolution; and forgiveness and reconciliation mark the conclusion of the action.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Some critics consider Measure for Measure a "dark" play because of the serious obstacles encountered by the characters.   However, doesn't The Merchant of Venice also have near-tragic hindrances that af... ... only does Measure for Measure fit the definition of comedy, it also parallels Shakespeare's other comedies.   Like The Merchant of Venice, As You Like It, and Twelfth Night, the plot of Measure for Measure overcomes an adversarial obstacle, possesses a disguised character who affects the denouement, touches the audience with the humor of a clown or ruffian, endures the influence of a powerful a female character, and ends with forgiveness and reconciliation.   The similarities between Measure for Measure and The Merchant of Venice, As You Like It, and Twelfth Night help to place Measure for Measure in the same category with Shakespeare's other comedies.   Furthermore, the "problems" many critics single out in Measure for Measure are also present in The Merchant of Venice, As You Like It, and Twelfth Night, and further help to classify Measure for Measure as a comedy.

Julia Ward Howe VS John Steinbeck :: essays research papers

Julia Ward Howe VS John Steinbeck   Ã‚  Ã‚  Ã‚  Ã‚  Ã¢â‚¬Å"Mine eyes have seen the glory†, are the words that begin The Battle Hymn of the Republic. A song that is about being virtuous and about an unrelenting faith in god. The Grapes of Wrath is a novel written by John Steinbeck that portrays 1930’s and the Great Depression. The styles and form of writing and portraying themes are different. Julia chose to write lyrics for a melody that was well known while John chose to write a many page book. Both The Battle Hymn of the Republic and The Grapes of Wrath are works that were made to inspire the reader or singer to push forward.   Ã‚  Ã‚  Ã‚  Ã‚  To understand the hymn it is important to understand its origin. This is difficult because historians must find the origins of the lyrics and the melody. Both authors have yet to be proven in their identity. The lyrics were written by Julia Ward Howe. This fact is something that they are sure of. The melody however, still remains a mystery to many people. Historians have successfully traced the song to John Brown’s Body. This piece was first published in 1858. It had been sung in many versions for a large amount of time during the Civil War. â€Å"And soon thru-out the Sunny South the slaves shall all be free† are lyrics that were used by the Negro regiments. As music researches looked deeper into the song, they found that john Brown’s Body had an extreme melodic similarities to an older revival hymn. This hymn was entitled Say, Brother, Will You Meet Us. â€Å" The earliest written verses appeared in 1858. The first copyright was registered on November 27th 1858, by G. S. Scofield in New York City† (Allen 1).   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Lieutenant Chandler, in writing of Sherman's March to the Sea, tells that when the troops were halted at Shady Dale, Georgia, the regimental band played 'John Brown's Body,' whereupon a number of Negro girls coming from houses supposed to have been deserted, formed a circle around the band, and in a solemn and dignified manner danced to the tune. The Negro girls, with faces grave and demeanor characteristic of having performed a ceremony of religious tenor, retired to their cabins.

International Trade Essay -- Economics essays research papers

International Trade What is International Trade?   Ã‚  Ã‚  Ã‚  Ã‚  International trade is defined as trade between two or more partners from different countries in the exchange of goods and services. In order to understand International trade, we need to first know and understand what trade is, which is the buying and selling of products between different countries. International Trade simply is globalization of the world and enables countries to obtain products and services from other countries effortlessly and expediently.   Ã‚  Ã‚  Ã‚  Ã‚  International trade has been in existence throughout history and has an economic impact on the participating countries. Trade in most countries has a share of the Gross Domestic Product (GDP) and helps to boost the countries overall economy on a yearly basis. International Trade for the United States is available to all business and companies and is flourishing, even though as a country we import more goods than we export, which affects our country’s economy.   Ã‚  Ã‚  Ã‚  Ã‚   The World Trade Organization (WTO) is the central body of the multilateral trading system-based in Geneva. The WTO primary job is to oversee the functioning and administration of trade agreements, including dispute settlements and serves as a forum for future trade negations and law makings. The WTO review legal matters and disputes and is the reviewing body or â€Å"watchdog† over international trade. The WTO agreements cover goods, services, intellectual property and set procedures and the govern...

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Donglian Yuan Assignment 4 This assignment will give you taste of how I want certain calculations performed and shown on the upcoming exam. I would like you to perform the required steps as done in the PowerPoint or in homework answers. Use function notation as done in Assignment 2. Show all calculations – find z-score (when appropriate) and such, use function notation correctly, with correct mathematical syntax. Round probabilities to four decimal places. The work required to show may require the use of fractions.You have two choices both acceptable. You can either write a step involving a fraction as (20 – 15)/2 or using MathType as [pic]. MathType was mentioned in the module Course Introduction, Course Requirements. There are three problems here. Scenario – I go to an internet site that has a random number generator set to produce random real numbers from a uniform distribution with the user picking the values of the endpoints. I set the random generator to pr oduce numbers in the following interval: 25 < X < 48.If the the distribution is indeed uniform, and the sampling method is unbiased, then figure 1 shows the theoretical mean and standard deviation. 1. I gather a sample of ten from random sampling and I get the following set of numbers. Sample result |25. 02 |34. 58 |28. 29 |38. 75 |34. 95 |33. 16 |30. 95 |40. 23 |38. 99 |37. 69 | | The question that will be posed concerns using my sample average from the ten values I generated, assuming that indeed, (x = 36. 5 with ? x = 6. 64 and the distribution is uniform. a.What is the probability of getting a sample average as low or even lower than the one we got from our sample of ten. [pic] [pic] About 4. 2% of getting a sample average as low or even lower than the one we got from our sample of ten. Grading – Correct answer 70%. Correct notation 20%, required components of problem/neatness 10%. Scenario – I go to an internet site that has a random number generator set to produc e random real numbers from a uniform distribution with the user picking the values of the endpoints.I set the random generator to produce numbers in the following interval: 25 < X < 48. If the the distribution is indeed uniform, and the sampling method is unbiased, then figure 1 shows the theoretical mean and standard deviation. I gather a sample of ten from random sampling and I get the following set of numbers. Sample result |25. 02 |34. 58 |28. 29 |38. 75 |34. 95 |33. 16 |30. 95 |40. 23 |38. 99 |37. 69 | |

Problems: Balance Sheet and Financial Statements

THE PROBLEM OF THE BEE: PROBLEMS IN FINANCIAL REPORTING OF JOLLIBEE FOODS CORPORATION’S 2005 FINANCIAL STATEMENTS A Paper Submitted In Partial Fulfillment of the Requirements for the Course ACT515M (Problems in Financial Reporting) MC REYNALD SIMBAJON BANDERLIPE II Candidate for the degree of MASTER OF SCIENCE IN ACCOUNTANCY Mr. WILFREDO BALTAZAR Professor De La Salle University – Manila Term 2, SY 2006-2007 THE PROBLEM OF THE BEE: PROBLEMS IN FINANCIAL REPORTING OF JOLLIBEE FOODS CORPORATION’S 2005 FINANCIAL STATEMENTS Mc Reynald S.Banderlipe II College of Business and Economics, De La Salle University Company Background This paper aims to perform an analysis of the 2005 financial statements of Jollibee Foods Corporation. Before such presentation, this chapter intended to present some information about the company, and how Jollibee became the leading company in the Philippine fast food industry. After graduating with a degree in Chemical Engineering, Tony Tan Ca ktiong decided not to compete with fellow new yuppies at his time searching for jobs after graduation.Having gained first-hand experience in managing a family eatery in Davao during his childhood years, he decided to pursue a food business that would be simple to operate. Thus, he borrowed P200,000 from his father to commence a Magnolia ice cream franchise beside Coronet Theater in 1975. With his ingenuity and passion to satisfy the cravings of his customers, the idea of serving American foods such as hamburgers and fries that is quick, tasty and affordable (Acuna, Bernardo, Dy, Malabanan, and Young. , 2004) became his vision that he never thought would be one of the entrepreneurial successes in the Philippines.In 1978, the vision became a reality when Tony and his family decided to incorporate and saw the birth of Jollibee Foods Corporation. One year after, the company posted P2 Million peso sales. It also marked the establishment of a first Jollibee franchise in Sta. Cruz, Manila and its first TV advertisement. Jollibee entered the list of the Top 1000 Corporations in 1981. Since then, the company continues its unprecedented growth as it enters the Top 500 in 1984, the Top 250 in 1986, and Top 100 in 1987. Meanwhile, in 1983, JFC launched flagship motto of JFC, known as the â€Å"Langhap Sarap. The year 1986 signaled the start of branching out in the international market by putting an international outlet in Taiwan and Brunei Darussalam. In 1989, the company posted very remarkable sales of P1. 3 Billion, while expansion efforts continued when they acquired 73% share in the Hamburger segment of the fast food industry in 1991. Jollibee became a public corporation in July 14, 1993 with its initial offering of P9. 00 per share. The expansion of JFC came when they acquired Greenwich Pizza Corporation in 1994 and Delifrance, a popular French patisserie shop, in 1995. This led to the increased variety of food items served by JFC.In 1996, the Far Eastern Economic R eview cited Jollibee as one of the leading companies in Asia. At the end of the year, more and more Filipinos abroad trooped down to their Jollibee stores in Guam, the Middle East, and Hong Kong. In 1997, Jollibee opened another branch in Xiamen, China. A year after, the company marked its 300th store in Balagtas, Bulacan, together with an international branch in Daly City, California. The following years thereafter saw the P20 Billion sales and recognition of Jollibee as the Most Admired Company in the Philippines and third overall in Asia.Jollibee opened its 400th store in Intramuros, Manila, while sales continuously shoot up to the P27 Billion mark. In the same year, Jollibee opened its 500th store in Basilan, Isabela Province. At present, Jollibee continues to expand its network of stores, after acquiring Chowking in 2000, an 85 percent share in Yonghe King in 2004, and Red Ribbon Bakeshop in 2005. Table 1 Timetable of Selected Jollibee Products from the Years 1978 – 2005 Jollibee Foods Corporation Timetable of Selected Products 1978 – 2005YEAR 1978 1979 1980 1982 1985 1986 1988 1990 1991 1992 1994 1995 1996 1999 2000 2001 2004 2005 PRODUCTS Regular Yum, Yum with Cheese Spaghetti Special Chickenjoy, French Fries Palabok Fiesta Breakfast Meals Chunky Chicken Sandwich Jollytwirl soft sundaes Coleslaw, Jolly Hotdog, Peach Mango Pie Pancakes Fruit-flavored ice cream sundaes Greenwich Pizzas and Pastas Delifrance French Pastries, Burger Steak Amazing Aloha, Chili Wings Cheezy Bacon Mushroom Burger Chowking Products, Pepper Crazy Burger, Shanghai Rolls, Pocket Pies, and Swirly Bitz Glazed Chicken Rice, Honey Beef Rice, Chicken Sotanghon Soup, Jolly Meat Pies, Yonghe King Products Super Meals, Jolly Chicken Tocino, Red Ribbon Cakes and Pastries As of 2005, the company’s store count estimated 552 Jollibee stores, 239 for Greenwich, 344 for Chowking, and 37 for Delifrance, 101 for Yonghe King, and 156 for Red Ribbon, the newest in the Jollibee family. Continuous expansion in terms of the number of food items and outlets is still underway. Table 1 below shows the timetable of elected Jollibee Products sold in the Philippine market starting from its inception in 1978. Standards Used by the Company Prior to analyzing the 2005 financial statements of Jollibee Foods Corporation, it is noteworthy to make a comparison of the standards to be adopted by the company as indicated in the 2004 financial statements in contrast with those standards actually applied in its preparation of the 2005 financial statements. Table 2 presents the comparison of accounting standards to be used in 2005 as per 2004 financial statements and the accounting standards actually used in 2005 per examination of the company’s 2005 financial statements.As can be seen, eight standards were not identified by the company in its 2004 financial statements that were actually adopted in 2005. Moreover, by looking at the 2004 financial statements, there has b een noted a difference in the presentation of the financial information. This was noted because although the year 2004 signifies the transition year towards adopting the Philippine Financial Reporting Standards and Philippine Accounting Standards, the 2004 financial statements still has presented the information in accordance with the superseded generally accepted accounting principles (GAAP). Table 2 Comparison of Standards to be used by JFC in 2005 as indicated in its 2004 Financial Statements and Standards actually used in 2005 Standard No. / NamePAS 1 â€Å" Presentation of Financial Statements† PAS 2 â€Å"Inventories† PAS 8 â€Å"Accounting Policies, Changes in Accounting Estimates and Errors† PAS 10 â€Å"Events After the Balance Sheet Date† PAS 14 â€Å"Segment Reporting† PAS 16 â€Å" Property, Plant and Equipment† PAS 17 â€Å"Leases† PAS 18 â€Å"Revenue† PAS 19 â€Å"Employee Benefits† PAS 21 â€Å" The Effe cts of Changes of Foreign Exchange Rates† PAS 24 â€Å"Related Party Disclosures† PAS 27 â€Å"Consolidated and Separate Financial Statements† PAS 31 â€Å"Interests in Joint Ventures† PAS 32 â€Å" Financial Instruments: Disclosure and Presentation† PAS 36 â€Å" Earnings per Share† PAS 36 â€Å" Impairment of Assets† PAS 37 â€Å"Provisions, Contingent Liabilities and Contingent Assets† PAS 39 â€Å"Financial Instruments: Recognition and Measurement† PAS 40 â€Å"Investment Property† PFRS 1 â€Å"First Time Adoption of International Financial Reporting Standards† PFRS 2 â€Å"Share-Based Payments† PFRS 3 â€Å"Business Combination† PFRS 5 â€Å"Noncurrent Assets Held for Sale and Discontinued Operations† PFRS 7 â€Å"Financial Instruments† 2004 * * * * * * * * * * * * 2005 * * * * * * * * * * * * * * * * * * * * * * * * * * * * This paper will elaborate the compliance of Jollibe e Foods Corporation in their adoption of the PFRS and PAS as indicated in their 2005 financial statements. It will also include a discussion of other problems in financial reporting noted in the analysis of the company’s financial statements.Discussion of Compliance with the Standards In analyzing the financial statements of Jollibee Foods Corporation for the year 2005, the researcher delved on the disclosure requirements of the Philippine Accounting Standards PAS and PFRS published by Philippine Institute of Certified Public Accountants (2005). These standards assess whether the company has complied with such requisites in preparing the PFRS financial statements for the year 2005, the year where PFRS formats became applicable in Philippine companies. In this case, the paper used the annual report released by the company in its corporate website in 2004 and in 2005. I. Philippine Financial Reporting Standards (PFRS) PFRS 1: First Time Adoption of Philippine Financial Reportin g Standards Paragraph 36 of PFRS 1 requires the inclusion of at least one year of comparative information under the IFRSs.JFC was able to follow such requirements since the financial statements presented 2005 data and 2004 restated data. The Note 2 of the company’s 2005 financial statements highlights such explanation. Paragraph 36A applies to entities that will choose to present comparative information that does not comply with IAS 32, IAS 39, and IFRS 4, which delves on financial instruments and insurance contracts, under certain conditions presented in the standard. In resolving the issue, Jollibee complied with the accounting policies set forth in IAS 32 and IAS 39. Nevertheless, the company applied for exemption in adopting the standards retroactively as permitted by SEC, applicable for the year ended 2004.Hence, the standards will be applied prospectively beginning January 1, 2005. Paragraph 37 presents the standards on historical summaries of selected data for periods before the first period for which they present full comparative information under the IFRSs. This is not applicable to JFC’s financial statements for the year ended December 31, 2005. Paragraphs 38 – 46 delve on the explanations regarding the transition to previous GAAP to IFRS financial statements. Accordingly, reconciliations of the company’s equity, profit and loss, and impairment losses should have appropriated disclosures. The company’s financial statements have presented supporting schedules for equity and profits and losses.With the adoption of PFRS 3 and PAS 36, JFC presented a disclosure under Section 2. 3. 1 (Reconciliation of Equity). Moreover, the same section also exhibited an expose on the designation of fair values on financial assets or liabilities and valuation of investment properties under paragraphs 43A – 44 of PFRS 1. Required disclosures such as the fair value of financial assets per category and the aggregate fair values and adjustment to carrying amounts under previous GAAP are also shown. The company has therefore complied with such requirements for first time adoption of Philippine Reporting Standards since it complied with its minimum requirements.PFRS 2: Share Based Payments Major provisions regarding disclosures in compliance with PFRS 2 necessitated information that enables users of the financial statements to understand the nature and extent of share-based payment arrangements that existed during the period. This includes disclosures such as description of each type of share-based payment arrangements; the number and weighted average exercises prices of share options and the weighted average share price at the date of exercise for options exercised during the period. Moreover, the range of exercise prices and weighted average remaining contractual life for share options outstanding at the end of the period, more than the option pricing model used.In addition, information should be accessible to enable users of financial statements understand the determination of fair values of goods or services received, and equity instruments granted. This includes disclosures such as weighted average fair value of share options granted and other equity instruments granted during the period and information on how the fair value was measured. Information on share-based payments that were modified during the period should also be disclosed, if any. Lastly, disclosures that enable users of financial statements to understand the effects of share-based payment transactions on the entity’s profit and loss and financial position should be provided.This includes disclosures on the total expenses recognized for the period arising from share-based payment transactions in which goods or services received but did not qualify for recognition as assets, and carrying and intrinsic value of liabilities arising from share-based payment transactions at the end of the period. JFC was able to comply w ith this standard, following the compliance of PFRS 2, including the provisions set forth in paragraphs 25B to 25C of IFRS 1. Required data to understand its effects are also indicated. Such indicators were presented in Note (b) of Section 2. 3. 1 and Section 2. 24. 2 of the company’s financial statements for the year ended December 31, 2005.A more detailed discussion about share-based payments is presented in Note 23. Here, the company disclosed basic information on each type of share-based payments such as Tandem Stock Purchase and Option Plans I and II, and Management Stock Option and Incentive Plans. It can be said that JFC has complied with the requirements on Share-Based Payments. PFRS 3: Business Combinations Required disclosures for PFRS 3 were information that enables users of financial statements to evaluate the nature and financial effect of business combinations that were effected during the period and after the balance sheet date but before the financial statemen ts are authorized for issue.It should also disclose, as in the case of the acquirer, information that enables users of financial statements to evaluate the financial effects of gains, losses, error corrections, and other adjustments recognized in the current period that relate to business combinations that were effected in the current year or in previous periods. In addition, data that will enable users to evaluate changes in the carrying amount of goodwill, if any, during the period should be disclosed. The company’s financial statements complied with the provisions of PFRS 3 for which the date is on or after March 31, 2004, the agreement date for all business combinations to be considered as stipulated in paragraph 78 of PFRS 3. Under Note (d) of Section 2. 3. 1 of JFC’s financial statements, the notes also depicted information about the financial effects of gains, losses, and other adjustments that were effected in current or previous periods.Moreover, the financial statements presented the changes in reversal of goodwill amortizations and recognition of goodwill in accordance with PAS 21. It included several notes in relation to the commencing testing for impairment losses, and reflected effects of changes of these policies to goodwill account of JFC. This can be best explained in Notes 8 to 10, where information regarding their investments in subsidiaries, interests in a joint venture, and goodwill arising from such transactions were designated. PFRS 5: Non-Current Assets Held for Sale and Discontinued Operations PFRS 5 specifies the accounting for assets held for sale and presentation and disclosure of discontinued operations.It requires assets that meet the criteria to be classified as held for sale to be measured at the lower carrying amount and fair value less costs to sell, and the depreciation on such assets to cease. Furthermore, assets that meet the criteria as held for sale should be presented separately on the face of the balance s heets and the results of discontinued operations to be presented separately in the income statement. Disclosure requirements include information that will enable users to evaluate the financial effects of discontinued operations and disposals of non-current assets (or disposal groups). Since the company believes that this will have no material effect on the company’s financial position and results of operations as indicated in the 2004 financial statements, this has never been an issue in the 2005 financial statements.PFRS 7: Financial Instruments Revised disclosures on financial instruments provided by the standard will be included in consolidated financial statements when the standard is adopted in 2007. II. Philippine Accounting Standards (PAS) PAS 1: Presentation of Financial Statements PAS 1 provides a framework within which an entity assesses how to present fairly the effects of transactions and other events; provides the basic criteria for classifying liabilities as cu rrent or non-current; and prohibits the presentation of income from operating activities and extraordinary items as separate line items in the income statement. Disclosure requirements include the measurement basis (or bases) used in preparing the financial statements and other accounting policies used that are relevant to an understanding of the financial statements.It also requires disclosures of judgments management has made in the process of applying the entity’s accounting policies that have the most significant effect on the amounts recognized in the financial statements. Additionally, it also requires disclosures as to key sources of estimation uncertainty and other disclosures if not disclosed elsewhere in information published with the financial statements. In 2004, JFC’s financial statements noted the probable change in the presentation of minority interest in the balance sheet and income statement will be effected in 2005 in addition of restating prior years ’ financial data to conform to the 2005 presentation.However, in 2005, the company believes that this standard will have no effect on equity on the reporting periods presented. In other aspects of the standard, the company’s financial statements also complied with the inclusion of significant accounting judgments and estimates made by the company’s management, in addition to the disclosure of key estimation uncertainties. The Note 2 of the financial statements indicates such compliance. Corporate information was also included in Note 1 of the Notes to Financial Statements (including the description of the entity’s operations and the name of the parent company), together with the basis of preparation and consolidation of the financial statements.Details of dividends are located in Note 15 and Note 17(b) of the financial statements. In general, the company’s financial statements complied with the requisites of PAS 1. However, the company should also include in Section 2. 3. 5 the additional disclosures regarding capital management that are not yet effected by the company until January 1, 2007. PAS 2: Inventories Disclosure requirements in PAS 2, as shown in paragraphs 36 to 39 are the accounting policies adopted in measuring inventories and cost formula used, the carrying amount of inventories carried at fair value less costs to sell, and the amount of inventories recognized as expense during the period, the amount of any write-downs.In addition, the notes should indicate reversal of inventory write-downs, circumstances that led to the write-downs and the amount of inventories held as security or pledge. In the adoption of PAS 2, the company has no foreseen significant changes in its accounting policies; thereby PAS 2 will not be an issue for JFC. As indicated in section 2. 11 in Note 2, the company disclosed the accounting policies and cost formula used in the inventory items of Jollibee, both food and non-food items. In Note 6 of the financial statements, the presentation of the carrying amount of inventories was in accordance with the lower of cost or net realizable values as indicated in the standard. Hence, the financial statements complied with the requirements of the standard.PAS 7: Cash Flow Statements As can be seen, the financial statements were presented classified by operating investing, and financing activities. While is it encouraged to adopt the direct method in accounting for cash flows from operating activities, JFC used indirect method, which is still acceptable in practice because of its easy application. On the other hand, almost all disclosure policies stated in PAS 7 have complied by Jollibee such as those regarding interest, income taxes, cash flows related to the acquisition of a subsidiary, and components/reconciliation of cash and cash equivalents in the financial statements and in the notes. This means that the company was able to meet the requirements of PAS 7.PAS 8: Accounting Policies, Changes in Accounting Estimates and Errors Under PAS 8, requisite disclosures as to changes in accounting standards or policies include the title of the standard or interpretation, the note that signifies that the change is in accordance with transitional provisions, its descriptions, the amount of adjustments, and certain conditional disclosures and how the standard addressed the disclosure, the nature of the changes in accounting policy, and reasons why this new policy will lead to a more reliable and relevant information. It should also divulge information when a voluntary change in accounting policy has an effect on the current period or any prior period that would have and effect on that period except that it is impracticable to determine the amount of the adjustment, or might affect future periods. Moreover, it should also present information as to the standards issued but not yet effective to the company. In terms of hanges in accounting estimates, the financial st atements must depict the nature and amount of change in accounting estimate and its effect on current and future periods when it is practicable to estimate the effect. If not possible, the fact should be disclosed. With regards to errors, disclosures should include the nature and amount of the errors, and the circumstances that led to the error and how it will be addressed by such correction. The company does not expect any significant changes in the accounting policies when it adopts PAS 8 and accordingly, in the 2005 financial statements, it also exhibited no effect on equity at January 1 and December 31, 2006. With regards to standards issued but not yet effective, section 2. 3. 5 of Note 2 depicted such disclosure.Still, the company should also have included the disclosures regarding capital management in compliance with PAS that will be applicable in 2007 to fully disclose all standards issued but not yet effective. PAS 10: Events after the Balance Sheet Date PAS 10 provides a limited clarification of the accounting for dividends declared after the balance sheet date. Disclosure requirements include the date when the financial statements were authorized for issue and who gave the authorization. It should also disclose the fact that the entity’s owners or others have the power to amend the financial statements after the issue. Moreover, if the entity receives information after the balance heet date about that conditions that existed at the balance sheet date, the entity should update disclosures in the light of new information. The company does expect any significant changes in the accounting policies when it adopts PAS 10 and accordingly, in the 2005 financial statements, it also exhibited no effect on equity at January 1 and December 31, 2004. Compliance with this standard is stated in Note 1 with regards to the date of authorization for issue of the financial statements and section 2. 30 of Note 2 and Note 29 regarding subsequent events. Furtherm ore, disclosure on dividends may not be an issue since the company annually declares and pays dividends to its stockholders, as evidenced by the cash flow statements for the years ended December 31, 2004 and 2005.For this reason, the company was able to comply with the disclosure requirements set forth in PAS 10. PAS 14: Segment Reporting This standard establishes the principles for reporting financial information by segments about the different types of products and services an enterprise produces and the different geographical areas in which they operate. Reportable segments should present the segment’s results of operations, carrying value of total assets and liabilities, contingencies, expenditures, depreciation, share in profits or losses, and other requirements mentioned in the standard. It also provides secondary reporting format requisite disclosures for segment revenues, expenses, results, assets, liabilities, and accounting policies.Accordingly, this standard has no effect on equity at January 1 and December 31, 2004 and as such, is not an issue for the company’s financial statements as of December 31, 2005. As can be seen, the company maintained the same format in segment reporting for the presentation of segment information in Note 3 of both 2004 and 2005 financial statements. Disclosures are generally in compliance with PAS 14. The company focused on using the primary reporting format, since the use of geographical segment reporting is not feasible due to a non-substantial portion of revenues earned by international operations, which are still few in number. In addition, the company disclosed information for inter-segment sales and transfers and the basis of pricing these transactions.PAS 16: Property, Plant, and Equipment Disclosure requirements on property, plant and equipment are the measurement bases to determine gross carrying amounts; depreciation methods and useful lives used; gross carrying amounts and accumulated depreciatio n at the beginning and end of the period; reconciliations of carrying amount of PPE assets pertaining to additions, reclassifications, and other increases or decreases; the recognition of impairment and reversal of impairment losses; restrictions on title of PPE assets, PPE assets pledged as security for liabilities; expenditures related to property, plant and equipment; and changes in accounting estimate as to residual values. Furthermore, the entities should disclose contractual commitments for acquisition of PPE assets; compensation to third parties rising from impairment of PPE items included in profit and loss; information regarding the revaluation of property, plant, and equipment as to effective date of revaluation, involvement of third parties for revaluation, assumptions in estimating fair values, carrying value of assets under cost models, and revaluation surplus; and information on idle properties. The company believes that there is no significant effect on equity upon ad option of PAS 16. Similar formats were presented, with differences in the probable restatements done in the 2005 financial statements. This is evidenced in note (c) of section 2. 4. 2, which depicted the management’s estimation uncertainty assumptions regarding PPE assets. In section 2. 9, the policy on accounting for PPE assets was presented, including compliance with general disclosures in accordance with PAS 16; while in Note 11, the financial statements showed the reconciliation of carrying amounts of PPE assets pertaining to additions, retirements, reclassifications, and transfers, including the disclosure regarding a fire that damaged the company’s commissary. It also included compensation from the insurance company for the damage of the property. No disclosure is necessary on revaluation of properties, as the company had not yet hired appraisers to revalue their properties. Disclosures regarding derecognition on PPE assets and idle and fully depreciated property are not of greater importance, since all properties have found its usage in the company.PAS 17: Leases PAS 17 prescribes appropriate accounting policies and disclosures to apply in relation to finance and operating leases. It also prohibits expensing of initial direct costs in the financial statements of the lessors. Under this standard pertaining to operating leases, which the company have adopted (as can be seen in section 2. 3. 1 reconciliation of equity in the company’s financial statements, in letter (c) in note 2. 4. 1, and section 2. 26 in Note 2 of the financial statements), disclosures should include total future minimum lease payments under non- cancellable operating leases for periods within one year, within after one year but not more than five years, and after 5 years (for both lessors and essees); future minimum sublease payments under non-cancellable subleases; lease and sublease payments recognized as expenses (for the point of view of lessees); disclosures r egarding contingent rents recognized as income, general description of leasing arrangements, bargain purchase options or renewal options, and restrictions involving lease arrangements as lessors or lessees (for both lessors and lessees). JFC does not expect any significant changes in accounting policies when it adopts PAS 17. In Note 26, the future minimum rental receivables and payables were presented, including the general details of lease arrangements entered by JFC (both positions are renewal options), and legal issues normal to its operations. The company did not entered into sale and leaseback transactions. The Company complied with the accounting rules in accordance with PAS 17.However, as a lessor, the company did not classified assets subject to operating leases according to the nature of the assets in the balance sheet. This is on the assumption that the firm’s lease transactions involve only commercial properties. Information on such classification was aggregated i n the financial statements, which ensured its compliance. PAS 18: Revenue Disclosure requirements to comply with this standard includes accounting policies adopted for the recognition of revenue; methods used in accounting for stage of completion of service transactions; the amount of significant categories of revenue recognized during the period, which includes sale of goods, rendering of services, nterest, royalties, and dividends; and the amount of revenue arising from exchanges of goods and services included in each significant category of revenue. The policies adopted for revenue recognition is presented in section 2. 23 as to how they recognize revenue from various categories. Its compliance with standards related to revenue recognition from royalty and franchise fees are delineated in Note 18. Though the financial statements do not present the breakdown of revenues according to significant categories, they believe that the use of segment information is already sufficient enou gh to present the revenues of the company. In this case, such segment information suffices compliance with PAS 18.PAS 19: Employee Benefits Disclosure requirements under PAS 19 include the policy for recognizing actuarial gains and losses; general description of the types of plans; reconciliation of assets and liabilities regarding defined benefit obligations; actuarial gains or losses; fair value of plan assets; reconciliation of movements in the next period of net assets or liabilities, total expenses related to employee benefits such as current service costs, interest costs, expected actuarial returns on plan assets, past service costs, effects of curtailment and settlement; actual return on plan assets and actual return on reimbursement right recognized as an asset; and principal actuarial assumptions used at balance sheet date such as discount rates, expected rates of returns, expected rates of salary increases, medical cost trend increases, and other assumptions all expressed in absolute terms. The company was able to comply with the rules set on PAS 19. As can be seen in Note (a) of Section 2. 3. 1 of the Notes to Financial Statements, the policies on actuarial gains, losses, past service costs, plus its effect on the retained earnings and net income were depicted. Moreover, such information was also presented in the reconciliation of equity. In section 2. 4, the company disclosed their policy on employee benefits, both pension and share-based payments. Accordingly, the company uses defined benefit accounting. They also used defined contribution accounting to some extent for employees of Chinese domiciled subsidiaries of the company, as seen in Note 22; only a limited disclosure regarding the use of this plan was indicated. It also provided information as to actuarial gains, actual returns on plan assets, plan liabilities, reconciliation of movements in the present value of obligations and fair value of plan assets, fair value of plan assets, the date o f actuarial valuation, the actuarial assumptions such as salary increase rate, rate of return on assets, and discount rates.Termination benefits and other long-term benefits are not considered issues to the company. Other disclosures such as medical costs, schedules of contributions by employers and employees, and the recognition of actuarial gains and losses not presented in the financial statements will not affect the company’s compliance with the standard. PAS 21: The Effects of Changes in Foreign Exchange Rates Disclosure requirements under PAS 21 referring to functional currency of the parent includes the amount of exchange differences recognized in profit or loss except for those arising on financial instruments measured at fair value through profit or loss in ccordance with PAS 39 and net exchange differences classified in a separate component of equity, in addition to the reconciliation of the amount of such exchange differences at the beginning and end of the period. Moreover, reasons for using presentation currency rather than functional currency should be indicated if such is the case; or if there is a change in the functional currency of either reporting entity or a significant foreign operation, that fact and the reason of change should be disclosed. It will only be deemed complying with the IFRS if all the requirements of each applicable accounting standard and interpretations are followed including the method of translation. The company disclosed its adoption of PAS 21, and they will be applying it prospectively.They also noted that goodwill arising from acquisition of a foreign operation and any fair value adjustments to the carrying amounts of assets and liabilities arising on the acquisition are now treated as assets and liabilities of the foreign operation and are to be translated at a closing rate. However, this new policy will have no significant impact to the company. As seen in letter (d) of note 2. 4. 1, the company has determine d the Philippine peso as the functional currency of the company. Additional information regarding functional currency and translation method is provided in section 2. 5. There is no issue as to the use of functional currency, since both parent and subsidiaries will use the Philippine peso.But as can be noticed, although there is a presented amount of exchange differences resulting from translation as indicated in the Statement of Changes in Equity, there is no reconciliation of the amount of such differences at the beginning and end of the period. PAS 24: Related Party Disclosures Relationships between parents and subsidiaries shall be disclosed irrespective of whether there have been transactions between those related parties. An entity shall disclose the name of the entity’s parent and, if different, the ultimate controlling party. If neither the entity’s parent nor the ultimate controlling party produces financial statements available for public use, the name of the next senior parent that does so shall also be disclosed. Moreover, disclosure requirements include key management personnel ompensation in total and per categories presented in paragraph 16 regarding short-term employee benefits, post-employment benefits, other long-term benefits, termination benefits, and share based payments; the nature of related party relationships and information on the amount of transactions and outstanding balances, provisions for doubtful debts, and expenses recognized during the period in respect of bad and doubtful debts. The parent shall make separate disclosures, in addition to their interests in a joint control or significant influence over the entity, information regarding the parent company’s subsidiaries, associates, joint ventures, key management personnel, and other related parties.JFC finds this standard to have no effect on its equity but they are amenable to adopt the new standard. In note 24, the company noted that the transactions with members of the Jollibee group are eliminated while intercompany advances are major transactions with joint venture. They complied with the presentation of outstanding balance of advances as indicated in the standard. The company was able to justify such presentation in Notes 8 and 9. Yet on the other hand, there is no information regarding key management personnel and their compensation schedule. Accordingly, since JFC, as a parent, runs its business independently of its subsidiaries and other related parties, there is no dependence on the company’s related parties.PAS 27: Consolidated and Separate Financial Statements In this standard, the entity’s compliance of the standards depends on their disclosure of the nature of the relationship between the parent and the subsidiary, reasons that will not constitute control of an investee in the entity, differences in reporting dates, and a listing of information regarding significant investments in subsidiaries, jointly cont rolled entities or associates. In note 8, the company’s financial statements presented its required disclosures of investments in subsidiaries, although information with their compliance to paragraphs 41 and 42 of the standard is not that material for their presentation regarding separate financial statements. Hence, the company managed to comply with the disclosure requirements of PAS 27.PAS 31: Interests in Joint Ventures PAS 31 delineated several disclosure requirements such as the aggregate amount of specified contingent liabilities, unless the probability of loss is remote; the aggregate amounts of capital commitments of the parties with respect to their interest in the joint venture; a listing and description of their interests in joint ventures; and accounting methods in recognizing interests in joint ventures. JFC was able to comply with the disclosure provisions of the standard, having presented its description of their interest in a joint venture and the accounting method for its joint venture, as seen in section 2. 18 in Note 2 and the entire Note 9 of the financial statements. The first two items are not applicable in the company at the moment. In this case, the company was able to comply with the requirements of PAS 31.PAS 32: Financial Instruments: Disclosure and Presentation To enhance the understanding and significance of financial instruments of the entity, the firm should describe its financial risk management objectives and policies, including hedging policies for each main type of forecast transaction for which hedge accounting is used. The firm should also disclose a description of the hedge; financial instruments designated as hedging instruments including their fair values, nature of risks being hedged, and for cash flow hedges, the period in which cash flows are expected to occur. Information about the nature of financial instruments and basis for accounting recognition must also be divulged.The firm should disclose the amount of gain or loss on a hedging instrument recognized in equity, removed from equity, and the amount removed from equity and was included in the initial measurement of acquisition cost or carrying amount of non-financial assets or liabilities. Information about their exposures to credit risk and interest rate risk are also mandated. Furthermore, the standard requires information regarding fair valuation of financial instruments, de-recognition of financial instruments, financial assets held as collateral, compound financial instruments with multiple embedded derivatives, reclassification and presentation of income, expenses, gains, and losses resulting from financial assets and financial liability transactions, and impairment and defaults/breaches. Under Note (c) of section 2. 3. of the notes, JFC has embedded information on how the company identified its financial assets, and how they valued those financial assets. These pertain to their investment in stocks, refundable deposits on leas es and noninterest bearing car loans. These financial assets were explained in full detail in section 2. 6 of Note 2. In section 2. 16, information on de-recognition of financial assets and liabilities in accordance with PAS 32 were presented. Under Note 27, the company expressed its compliance with PAS 32, showing their risk management objectives and policies, and information on how JFC addresses the financial risks discussed in the standard.In Note 29, the financial statements presented the valuation of financial assets and liabilities, in accordance with the valuation set by PAS 32, together with the information of multiple embedded derivatives. However, detailed information about the maximum degree of risk exposure must be presented. PAS 39: Financial Instruments: Recognition and Measurement PAS 39 has no disclosure requirements since they were moved to PAS 32. However, to comply with IAS 39, information about the decrease in retained earnings and carrying amounts of financial a ssets was disclosed. In note (c) of Section 2. 3. 1, they also disclosed unrealized loss in the company’s AFS financial assets as part of compliance with the standards. Section 2. 6 provided a description of financial instruments held by JFC.In Section 2. 10 the company disclosed information on the impairment of financial assets in accordance with the requirements of PAS 39. Section 2. 22 presents information on the impairment of non-financial assets. Information on Notes 27 and 28 are still applicable in compliance with PAS 39 regarding measurement of financial assets and liabilities. PAS 33: Earnings per Share In presenting the financial statements in accordance with PAS 33, the standard requires the presentation of amounts used as numerators in calculating basic and diluted earnings per share and its reconciliations to profit or loss attributable to the parent entity for the period.It should also disclose the average number of ordinary shares used to calculate basic and di luted EPS, instruments that could dilute basic EPS in the future, and a description of ordinary share transactions that occur after balance sheet date. Jollibee’s compliance with the standard was indicated in section 2. 27 of Note 2 and Note 25, which presented the Earnings per share computations. As indicted in section 2. 3. 4, comparative information and disclosures have been presented as required. However, the adoption of PAS 33 has no effect on equity of JFC. The presentation of Earnings per Share of Equity Holders of the Parent was indicated in the Income Statement of JFC.PAS 36: Impairment of Assets Disclosure requirements in accordance with PAS 36 include the amount of impairment losses recognized in profit or loss during the period in each class of assets and revalued assets, the reversals of impairment losses in each class of assets and revalued assets. For material impairment losses, disclosures as to the events that led to the recognition or reversal of impairments losses in assets, cash generating units and information on aggregate losses should be indicated. Such compliance by JFC’s 2005 financial statements is indicated in letter (b) of section 2. 4. 2, section 2. 22 of Note 2, Note 3 regarding segment information on impairment losses, Notes 10 and 11. The company provided disclosures of their assessment of impairment losses on non-financial assetsPAS 37: Provisions, Contingent Liabilities, and Contingent Assets PAS 37 requires disclosures regarding contingent assets, liabilities, and provision. Contingencies are disclosed except when the possibility of an inflow or outflow of resources is remote. Information regarding the nature and estimated amount of such contingency, its financial effects, the uncertainties relating to the outflow and amount of reimbursements are also noted. Obligatory disclosures for provisions include carrying amounts, additions of provisions, provisions used, and unused amounts reversed during the period. Mor eover, brief descriptions on each class of provisions are due for presentation in the financial statements.The company was able to provide information regarding the company’s provisions, as stated in Note 14. While information on contingencies is not substantial, still, the assumptions are still presented in Note 2 of the financial statements. PAS 40: Investment Property PAS 40 identified the presentation requirements for investment properties. Disclosures under this standard are and extension of the requirements presented in IAS 17 (or PAS 17, â€Å"Leases†). Entities shall disclose whether they apply the fair value model or cost model in valuing investment properties. Should they apply fair value model, firms should indicate the circumstances property interests held under operating leases are classified and accounted for as investment property.If the classification is difficult, they should distinguish investment property from owner-occupied property and from propert y held for sale in the ordinary course of business. In addition, entities have to identify the methods and significant assumptions in valuation of investment properties. Amounts recognized in profit or loss such as rental income, operating expenses incurred from properties that are income and non-income generating, existence of restrictions on realizable characteristic of investment properties upon disposal, and contractual obligations regarding investment properties should be disclosed. Because JFC elected to use cost model in the valuation of investment properties as shown in note (e) of Section 2. 3. of Note 2, disclosures require the depreciation methods used, useful lives or depreciation rates used, gross carrying amount and accumulated depreciation, a reconciliation of the beginning and ending balances showing additions, assets classified as held for sale, depreciation, transfers, impairment losses, and fair value of investment properties. In the same notation, JFC presented t he effects of adopting the policy in the financial statements, as evidenced by the reconciliation found in the same note. Here, the changes in retained earnings and net income were presented, in addition to the expressed carrying value of the property. In Section 2. 20, the company presented their significant accounting judgments and policies regarding the adoption of the new standard. In Note 10, since they are using the cost method of valuing investment properties, reconciliation was presented showing the cost and accumulated depreciation of investment properties.Moreover, it also showed information regarding any transfers; retirements; impairment losses; and depreciation were depicted. Yet, they did not disclose the accounting methods used and the estimated useful lives of investment properties subject to depreciation. Table 3 Financial Reporting Issues Presented in the Analysis of Jollibee’s Financial Statements for the Year 2005 Standard No Financial Reporting Issues Pre sented The non-inclusion under Notes 2. 3. 5 regarding disclosure standards regarding capital management that should be indicated even though the provisions are not yet effective The classification of Judgments a-c in Notes 2. 4. 1. Is that considered a judgment, or an estimation uncertainty? PAS 1 PAS 8 PAS 24 PAS 40 ADDITIONAL NOTESSame as the problem of application in PAS 1 regarding disclosure standards on capital management Information about key management personnel was not indicated in the notes to financial statements. Information about the persons, their salaries, etc. is found in the 2005 SEC Form 17A. Only the disclosure regarding accounting methods used and estimated lives of investment properties subject to depreciation were not described. The release of the financial statements in the annual report has produced several encoding errors in the production of the financial statements. In summarizing the entire discussion, Table 3 highlights all financial reporting issues no ted in the analysis of Jollibee Foods Corporation’s 2005 financial statements. As can be seen, there has been an issue regarding the adoption of ten Philippine Accounting Standards.In addition, there was noted some encoding errors in the financial statements per examination of the annual report. Referencing regarding the reconciliation of equity upon adoption of the new standards is one example. Such errors, if noticed, may lead to some confusion in understanding the financial statement information. Other Problems in Financial Reporting This section tackles the problems that might have encountered by Jollibee in their preparation and presentation of the financial statements other than disclosure requirements. In addition, this paper will address how the company may have resolved such setbacks to achieve a fair presentation of the financial information.Functional Currency and Translation This problem arose for the reason that Jollibee has been maintaining international operati ons in the United States, Hong Kong, Vietnam, Brunei, Guam, and Saipan. In addition, its Chowking stores are located in Dubai, while their Yonghe King restaurants situated in China. Red Ribbon had also expanded in the US even before it was acquired by Jollibee. Because these countries uses different currencies in their daily operations and in the preparation of financial data, it is wondered how Jollibee will address such problem in their consolidated financial statements, whose parent company is situated in the Philippines.The problem was resolved in Note 2. 5. As can be said, the company’s management determined its functional currency to be the Philippine peso. In this case, the company measured these international transactions in Philippine peso at the transaction dates. Monetary assets and liabilities were measured using the exchange rate at balance sheet date. Non-monetary assets and liabilities wee measured at historical cost using the exchange rate at the date of initi al transaction. Its foreign subsidiaries’ financial statements were translated into the presentation currency of the company. Exchange rate differences were presented in the financial statements, though in aggregate form.Receivables Although the company’s main business is the development, operation, and franchising of Quick Service Restaurants (QSR), the company also maintains other operations in support of their QSR restaurants like franchising and leasing of facilities to other companies, it can be inferred that the company does not only depend on cash sales brought about by their restaurant operations. Receivables arose because franchising and real estate are also revenue-generating areas of the organization which also forms part of their trade receivables. Moreover, they also have dues from the joint venture and other related parties, which were aggregated as loan receivables. To prevent confusion, the company presented in its segment information the operations of such segments and as such, users can find out those transactions under franchising and real estate operations may primarily cause such receivables recognition.Inventory Valuation Because the primary operation of Jollibee is the operation of QSRs, it is noteworthy that the major bulk of their investments are food supplies, novelties, packaging, store supplies, and processed inventories. The perishable nature of food supplies and processed inventories, and the obsolescence of other supplies due to the release of new packaging designs, the lapse of periods where Jolly Kiddy meals come with novelties, and other time-based factors are the problems that Jollibee encounter in the valuation of its inventories. As such, the company maintained the policy of the First-In, First-Out (FIFO) basis of inventory system and in their valuation of inventories as of the balance sheet date.This is to prevent the deterioration of goods that may be harmful if not used within a certain amount of time, and to maximize the usability of these items. Though designs change, its utility value is the same for packaging all Jollibee products. Cost valuation using FIFO allows the firm to value its unsold or unused inventories at more recent dates of acquisition, which is acceptable under the new standard. Revenue Recognition Jollibee recognizes revenue from various sources such as from sale of goods, royalty fees, franchise fees, dividend income, rental income, and interest income. While the policy of revenue recognition was presented in the notes to financial statements, certain question on how they recognize revenues from franchise fees.Accordingly, such revenues are recognized when all services or conditions relating to the transaction have been substantially performed. Substantial may not be the total performance demanded to the company in providing such services. The question lies regarding new franchisee transactions that the company’s services commence at one period and terminat es on the other period. How will the company assess their substantial performance on such franchise services to its new franchisees on the first period? Segment Reporting As can be seen, Jollibee has presented its segments on the basis of the nature of operations. Specifically, the company presented the food service, franchising, and real estate segments of its business.Knowing that Jollibee has international operations in the USA, East and Southeast Asia, and even in the Middle East, it is of question why did the company did not presented information related to geographical segments. Be it noted that of the more than 1,000 outlets of the Jollibee Group, less than 140 of them were located outside the Philippines, including the 101 Yonghe King restaurants in China. Based on the combined performance of these stores, the international operations has yet to contribute more in the total operations of Jollibee, as approximately 90% of their stores are located in the Philippines. Again, it should also boil down on the notation that Jollibee has other major operations.That could be the reason for segment information to be reported that way. Admission of Red Ribbon into the Jollibee Group In 2005, the company bought Red Ribbon, a company that sells cake products to Philippine consumers. Red Ribbon’s financial statements prior to acquisition are prepared for the fiscal year ending June 30. Since Jollibee and Red Ribbon have time differences in financial reporting, the stockholders and the Board of Directors agreed that the reporting period of the company should follow the calendar year presentation of Jollibee. Hence, the notes presented the summative position and performance of Red Ribbon for the fiscal year endedJune 30, 2005 and for the six months ended December 31, 2005, following the calendar year. Financial Instruments Due to the applicability of PAS 32 and 39, the company classified certain investments in shares of stocks as available-for-sale financial as sets and valued at fair value, though these has been measured at lower of aggregate cost or market value in the previous GAAP. Refundable deposits on leases and non-interest bearing car loans were re-measured at fair value at initial recognition and subsequently at amortized value under the effective interest method. Prior to such adoption, these are carried at cost, less impairment in value under previous GAAP.Such adoption resulted in a decrease in retained earnings for the company, which may have brought adverse effects to the company from the point of view of layman financial statement reader. Realizations After analyzing the financial statements of Jollibee Foods Corporation’s 2005 financial statements to identify the issues and problems in their financial reporting in accordance with the PFRS and PAS, this paper presents some realizations about the state of the company struggling to ensure compliance with the Philippine accounting standards under issue in the preparatio n of the financial statements. In addition, an insight regarding problems in financial reporting is presented. 1. Some judgments may not be considered judgments at all.While the company may have a point in identifying several issues to be as accounting judgments, it may be preferable if such judgments like impairment, leases, and asset retirement be presented under estimation uncertainties. This is because this transactions or events normally require estimations rather than judgments. 2. Keep abreast with the release of new standards. It can be assumed that the newest release of PAS 1 standards relating to capital management may not yet noted by the company. Jollibee must continuously upgrade its awareness of these new standards since it might have a significant bearing on how they will present the information to comply with such new standards. Such can be achieved through attendance to seminars on PAS and PFRS, and continuous training and research. 3. Redundancy can lead to fair pr esentation.Standards have the say. Sometimes, the notes have to be redundant in stressing out the emergence of applications, measurement, and valuation of items that are covered by a particular accounting standard (e. g. PAS 14, â€Å"Segment Reporting† and PAS 18, â€Å"Revenue,† where both standards require the presentation of similar information related to reportable and non-reportable segments). In such case, preparers of financial information have no option but to present the information more than once, as per accord with the standards. 4. Show reconciliations, when necessary. The use of such reconciliations may lead to a better understanding of the financial statements.Showing the movements in the beginning and ending balances may already be an important tool to understand the information related to such reconciliation. 5. Encode information with accuracy and with precision. Preparers of financial statements must exercise due care in encoding of information in th e soon-to-be published financial statements. Errors resulting from such carelessness may mislead users of financial information in making economic decisions for the company. 6. Problems are immortal. New policies, new standards, new conventions. These lead to problems especially in dealing with the preparation of the company’s financial statements. Instant compliance maybe difficult. Sometimes, resolving these problems might have adverse effects.It really depends on the company on how they are motivated to face these situations and eventually gear itself to imminent financial reporting problems in the future. References Acuna, C. , Bernaldo, R. , Dy, L. , Malabanan, R. , & Young, L. (2004). A comparative study on the performance and financial position of Jollibee and McDonald’s for the years 1999 – 2006. Unpublished undergraduate thesis. Manila, Philippines: De La Salle University. Jollibee Foods Corporation (2004). Jollibee Foods Corporation Annual Report 2004. Pasig City, Philippines. Jollibee Foods Corporation (2005). Jollibee Foods Corporation Annual Report 2005. Pasig City, Philippines Philippine Institute of Certified Public Accountants (2005). Philippine Accounting Standards Vol. 1-5. Mandaluyong City, Philippines.