Foundations in Accounting Pros and Cons for investors

Question: Discuss about the Foundations in Accounting for Pros and Cons for investors . Answer: Introduction The following assignment report is based on the two companies of Australia, Westpac Banking Corporation and BP Australia Limited presenting the understanding the conceptual framework for reporting organizations within the Australia. The report provides the explanation and requirements of Australian Accounting Standards Board (AASB) 1053 and Statement of Accounting Concepts (SAC) 1 for the selected companies. Further, the assignments focus on the identification of categories of assets, reporting values and impairment or depreciation charges according to the AASB 116, 138 and 136 (Zhuang, 2016). The report presents the assets according to the specific categories line current assets, non-current assets, intangible assets, and their respective reported values (Linnenluecke et al., 2015). In the last part of the report, discussion and arguments have been provided on the adoption of International Financial Reporting Standards (IFRS) within Australia. The discussion has been supported with necessary advantages and disadvantages as well as the explanations given by peer- reviewers. Discussion 1: The conceptual framework presents a number of requirements for Financial Reporting that helps the Board of International Accounting Standards based on the concept of consistency. It also assists the accounting preparers to develop the consistency of accounting policies and helps the users of the accounting information in understanding and interpreting the standards of accounting. A reporting entity in Australia has to follow the conceptual framework requirements laid by the Australian Accounting Standards Board to present its financial statements for the use of the stakeholders (Hughes-Morley et al., 2015). A reporting entity qualifies to be reported under the accounting principles and standards of Australia if the financial information has the capability of providing useful information to the users. The users can be potential ordinary shareholders for investment, banks to provide loans or resources and government for considering tax and duties. In addition, if one company has the controlling power on another company to direct the business activities, then such company falls under the category of reporting entity (Newberry, 2015). However, AASB 1053 provides certain application of Tiers to different categories of reporting companies for preparing the financial statements. This standard applies to the organizations having annual reporting period beginning on or after 1st July, 2013. However, an entity is also required to report as per the AASB 1053 if its annual reporting period starts between the years 2009 to 30th June 2013 (Bridgett et al., 2015). In case of the selected companies, Westpac Group and BP Australia both are eligible to be reported according to the Australian Accounting Standards Board and Statement of Accounting Concepts. Both the companies have annual reporting period between 2009 to 30 June 2013 as well as the financial information has the potential to provide necessary information to the users. In case of Westpac Group, the performance highlights of the year 2015 shows a rise in net profit by 6% amounting to $8,012 million. Other than that, cash earnings show a rise of 3% amounting to $7,820 million while payment of dividends gone up by 3% and returns by 15.8% (Personal, Business and Corporate Banking, 2016). Whereas in case of BP Australia, whose objective is to create long-term values for its shareholders. Though the company incurred a loss of approximately $6.5 billion compared to the net profit of the year $3.8 billion in the year 2014. The loss was mainly due to the loss in replacement of assets amounting to $5.2 billion. The company is required to report as per the AASB 1053 even if it incurred losses so that the users of the financial statements can get the correct information (BP, P, 2016). Therefore, both the companies are required to report their financial statements with compliance to the Australian accounting standards and principles that regulates the conceptual framework to record and measure the accounting data (Drew, Kortt Dollery, 2015). As the standard requires an entity to represent its financial statements, it consists of two tiers to report the financial information. Tier 1 requires complete disclosure while Tier 2 requires reduced disclosures of accounting information. Both the companies fall under Tier 1 reporting that incorporates IFRS and are specific for Australian entities (Bond, Govendir Wells, 2016). 2: Australian Accounting Standards Board 116 regulates the recognition of property, plant and equipment. As per the standard, an asset is to be recorded if there is any future economic benefit associated with the asset that will flow to the company. In addition, the value of the asset is eligible to be measured reliably. Further, AASB 138 on Intangible assets states the same condition to recognize and measure the value of impaired assets (Chalmers, Clinch Godfrey, 2012). The cost of intangible assets should be recorded at the purchased value reduced by the proportional amount of amortization (Cheung, Evans Wright, 2012). AASB 136 on Impairment of assets requires that the assets of the organizations are not carried out in the financial statements more than their recoverable value (Bond, Govendir Wells, 2016). The identification of impairment of assets depends on the external as well as the internal sources of the company (Yao, Percy Hu, 2015). In case of Westpac Group, the financial statement shows the different categories of assets, their values and other necessary information. The presentation reflects the financial status of the company with respect to the holding of assets at the end of the accounting year 2015 (Finch, 2012). Reported assets and their values of Westpac Group Amount A$m Consolidated Parent Current Assets Cash and bank balances with central banks 14,770.00 13,372.00 Receivables due from other financial institutions 9,583.00 8,741.00 Derivative financial instruments 48,173.00 47,540.00 Trading securities and financial assets designated at fair value and available-for-sale securities 27,454.00 24,896.00 Available-for-sale securities 54,833.00 50,344.00 Due from subsidiaries 145,560.00 Investments in subsidiaries 4,585.00 Investments in associates 756.00 - Non- Current Assets Loans 623,316.00 546,075.00 Life insurance assets 13,125.00 - Regulatory deposits with central banks overseas 1,309.00 1,152.00 Property and equipment- Fixed Assets 1,592.00 1,354.00 Deferred tax assets 1,377.00 1,463.00 Other assets 4,294.00 3,294.00 Goodwill and other intangible assets 11,574.00 9,180.00 Impairment charges (753.00) (622.00) Amortization and impairment of software assets (1,051.00) (927.00) Amortization and impairment of intangible assets and deferred expenditure (221.00) (207.00) Impairment on investments in subsidiaries - (19.00) Depreciation of property and equipment (229.00) (190.00) Depreciation and impairment of IT equipment (170.00) (152.00) Table 1: Reported assets and their values of Westpac Group (Source: Personal, Business and Corporate Banking, 2016) Reported assets of BP Australia as per the financial statements 2015 Reported assets and their values BP Group Group Amount A$m Current Assets Cash and cash equivalents 26,389.00 Loans 272.00 Inventories 14,142.00 Trade and other receivables 22,323.00 Derivative financial instruments 4,242.00 Prepayments 1,838.00 Current tax receivable 599.00 Other investments 219.00 Non- Current Assets Property, plant and equipment 129,758.00 Goodwill 11,627.00 Intangible assets 18,660.00 Investments in joint ventures 8,412.00 Investments in associates 9,422.00 Other investments 1,002.00 Fixed assets 178,881.00 Loans 529.00 Trade and other receivables 2,216.00 Derivative financial instruments 4,409.00 Prepayments 1,003.00 Deferred tax assets 1,545.00 Defined benefit pension plan surpluses 2,647.00 Depreciation, depletion and amortization (15,219.00) Impairment and losses on sale of businesses and fixed assets (1,909.00) Table 2: Reported assets of BP Australia (Source: BP, P, 2016) The carrying costs of assets of both the companies were according to the principles of AASB 136 while the costs of intangible assets were according to AASB 138. The depreciation on fixed assets of Westpac has been provided as per the principles and standards of Australian Accounting at straight-line method (Personal, Business and Corporate Banking, 2016). The depreciation of assets of BP Group has been provided at written down value method (BP, P, 2016). Further, the Intangible assets of both the Australian companies have been amortized in the proportion of number of years in compliance with AASB 138. 3: International Financial Reporting Standards (IFRS) are a set of principles and standards that regulates the recognition and measurement of company account. IFRS has been designed to record the accounting information to make it understandable and comparable across the international boundaries. In recent years, many nations are adopting the IFRS to regulate the accounting records and recognition to have standardized and equalized financial information across the globe (Christensen et al. 2015). Replacement of IFRS with different national standards of accounting arises the change in valuation and recognition of assets, liabilities, capital structure, equities and other financial elements. IFRS provides the rules and principles to recognize the business transactions in a concise manner that is regulated worldwide (Ramanna Sletten, 2009). To present the accounting information globally accepted and understandable, Australia has adopted International Financial Reporting Standards. It states the accounting principles and methods to recognize the business transactions to harmonize the presentation of financial information across international boundaries. Australia has acquired International Financial Reporting Standards for all the reporting organizations to present their financial reports in the manner specified by the Standard. The Board of Australian Accounting has adopted the IFRS since the accounting year 1st January 2005 (Ball, Li Shivakumar, 2015). Since Australia has two Tiers of reporting essentials to prepare and present the financial statements, application of International Financial Reporting Standards had been incorporated to Tier 1 reporting requirements. Tier 1 reporting is presented as per the Australian Accounting Standards while Tier 2 reporting requires reduced disclosures under Australian Accounting S tandards. According to the regulations of Australian Accounting, entities that are profit making in the private sector having accountability are required to report under Tier 1. In addition, corporations under Australian State, Territory or local Government also require to report the accounting information under Tier 1 (Ball, 2006). The European Union had mandated the adoption of International Financial Reporting Standards for all the listed companies under the International Accounting Standards Board. By acquiring the IFRS growth in foreign capital and trades are expected in consideration with the economic benefits. Foreign capital would be considered as the ratio between direct investment inflows to Gross Domestic Product and equity portfolio related to foreign exchange transactions. International Financial Reporting Standards provides the principles to recognize the necessary transactions, measure the value of investment, and return on investment that are accepted across the International boundaries (Loureno, Branco Castelo, 2015). Decision to adapt the International Financial Reporting Standards for recording accounting information to make the financial reports uniform and acceptable across the globe serves some benefits to Australia. Maintaining the accounting statements according to IFRS helps in attracting the capital inflow in Australia at lower cost i.e. the cost of capital employment would be lower (Cascino Gassen, 2015). Another benefit of adopting IFRS in Australia is lowering the costs for account preparers, cost of auditing and cost for the users of financial statements of the organizations. Preparing accounting records as per International Financial Reporting Standards also fills certain space in Generally Accepted Accounting Principles in Australia (Loureno, Branco Castelo, 2015). International Financial Reporting Standards requires changes in the methods of measuring financial elements like valuation of Earnings per share for the ordinary shareholders, capital ratios, values of fixed assets and depreciation charges. It also specifies the rules to valuation and recognition of goodwill, mergers and acquisitions, inventory valuation, cost of borrowings, cash flow statements and impairment of assets. Many entities operate and invest in other companies as a parent or holding company within the nation or outside the nation (Mardini, Crawford Power, 2015). In this respect, it is necessary to present the financial statement in uniform manner that reflects harmonized presentation to make it understandable for the users across the world. Apart from that, IFRS presents the principles to make required disclosures specific to the components of finance (Ramanna Sletten, 2009). Therefore, the selected companies Westpac Group and BP Group have adopted IFRS to prepare their financial statements. Both the companies have evaluated and measure different accounting components like capital expenditures, Earning Per shares (basic and diluted), depreciation charges, amortization expenses, goodwill valuation, replacement costs and other relevant data. While, the respective reported values of assets and methods used for computing depreciation charges have already been mentioned in the previous part of discussion (Ramanna Sletten, 2009). However, there are some disadvantages on adopting International Financial Reporting Standards by Australian Accounting Boards. The primary disadvantages of acquiring the accounting systems are per IFRS are involvement of high cost of changes. Most of the multinational companies employ upgraded and advanced accounting software to maintain their books of accounts are required to change the entire internal system of recording the business transaction as per IFRS. Such change of software and other internal requirements incorporates huge expenditure to make it compatible for the users. Other than the high cost structure, IFRS requires critical understanding of the concepts of objectives, scope, definition, transaction recognition criteria and disclosure requirements. In order to be acquainted with the principles and rules of IFRS the account prepares have to study and update their knowledge, which is time-consuming. Certain issues like extraordinary gains or losses are not allowed to reco gnize according to International Financial Reporting Standards. Hence, the critical understanding of these issues requires sound and fundamental knowledge and competency about the concept and content of various standards (Ball, 2006). Besides the disadvantages, maintaining the accounting records according to International Financial Reporting Standards reflects many advantages. One of the significant benefits is to favor the investors by providing the financial statements more accurately, timely and in a comprehensive manner. Accounting reports according to IFRS provides clear understanding and more information about the organizations performance and financial status. Another essential benefit of application of International Financial Reporting Standards for preparing the accounting records is immediate recognition of loss. This recognition provides advantage to the investors for the purpose of investments and other stakeholders to make better and corrective business decisions. Recognition of accounting data under IFRS sheds transparency and effectiveness to the users of the financial reports for investment, procuring or providing loans and advances and any other necessary business deals (Ball, 2006). Another benefit of adopting IFRS is the comparability of the financial statements for the companies as well as for the users. Many entities prepare consolidated accounting statements apart from the standalone accounting statement as per the requirements of Accounting Boards. Therefore, preparation of financial statements under IFRS provides improved comparability for the investors, business management and other stakeholders of the companies. Such comparability provides better understanding of the companys financial position and performance during the accounting year with respect to the financial markets of the current economy (Ball, 2006). Conclusion The above report has been presented on different elements and concepts of accounting information within Australia based on the financial information of two Australian companies. The report in the first part focuses on the requirements of AASB 1053 and SAC 1 for the reporting entities for recording the accounting transactions and preparing financial statements. The standards state the necessity to maintain the books of accounts as per the principles and standards of International Accounting Standards under Tier 1 and Tier 2 requirements. Both the selected companies qualify as reporting entities because they are profit-making organizations having public accountability. In the second part of the report, assets of both the companies have been categorized and respective reporting values have been mentioned. The categorization has been done according to the AASB 116, 138 and 136 that presents the principles and rules to recognize plant, property and equipment, intangible assets and impairment of assets respectively. Last part of the report represents the discussions and arguments on acquiring accounting records as per IFRS by Australia. The standard has been adopted to present and prepare the financial reports of the Australian company in transparent, accurate and comprehensive manner. The discussion also presents the advantages and disadvantages of adopting IFRS in accounting system. However, adoption of IFRS is time-consuming and involves huge costs it provides advantages for investors and stakeholders reflecting better comparability and transparency in understanding the financial statements for the users. Reference List Ball, R. (2006). International Financial Reporting Standards (IFRS): pros and cons for investors.Accounting and business research,36(sup1), 5-27. Ball, R., Li, X., Shivakumar, L. (2015). Contractibility and transparency of financial statement information prepared under IFRS: Evidence from debt contracts around IFRS adoption.Journal of Accounting Research,53(5), 915-963. Bond, D., Govendir, B., Wells, P. (2016). An evaluation of asset impairments by Australian firms and whether they were impacted by AASB 136.Accounting Finance. BP, P. (2016). bp.com. bp.com. Retrieved 27 July 2016, from https://www.bp.com/ Bridgett, D. J., Burt, N. M., Edwards, E. S., Deater-Deckard, K. (2015). Intergenerational transmission of self-regulation: A multidisciplinary review and integrative conceptual framework.Psychological bulletin,141(3), 602. Cascino, S., Gassen, J. (2015). What drives the comparability effect of mandatory IFRS adoption?.Review of Accounting Studies,20(1), 242-282. Chalmers, K., Clinch, G., Godfrey, J. M. (2012). Adoption of international financial reporting standards: impact on the value relevance of intangible assets.Australian Accounting Review,18(3), 237-247. Cheung, E., Evans, E., Wright, S. (2012). The adoption of IFRS in Australia: The case of AASB 138 (IAS 38) Intangible Assets.Australian Accounting Review,18(3), 248-256. Christensen, H. B., Lee, E., Walker, M., Zeng, C. (2015). Incentives or standards: What determines accounting quality changes around IFRS adoption?.European Accounting Review,24(1), 31-61. Drew, J., Kortt, M., Dollery, B. (2015). What determines efficiency in local government? a DEA analysis of NSW local government.Economic Papers: A journal of applied economics and policy,34(4), 243-256. Finch, N. (2012). Intangible assets and creative impairment-an analysis of current disclosure practices by top Australian firms.Journal of Law and Financial Management,5(2), 18-24. Hughes-Morley, A., Young, B., Waheed, W., Small, N., Bower, P. (2015). Factors affecting recruitment into depression trials: systematic review, meta-synthesis and conceptual framework.Journal of affective disorders,172, 274-290. Linnenluecke, M. K., Birt, J., Lyon, J., Sidhu, B. K. (2015). Planetary boundaries: implications for asset impairment.Accounting Finance,55(4), 911-929. Loureno, I. M. E. C., Branco, M. E. M. D. A., Castelo, D. (2015). Main consequences of IFRS adoption: analysis of existing literature and suggestions for further research.Revista Contabilidade Finanas,26(68), 126-139. Mardini, G. H., Crawford, L., Power, D. M. (2015). Perceptions of external auditors, preparers and users of financial statements about the adoption of IFRS 8: Evidence from Jordan.Journal of Applied Accounting Research,16(1), 2-27. Newberry, S. (2015). Public sector accounting: shifting concepts of accountability.Public Money Management,35(5), 371-376. Personal, Business and Corporate Banking. (2016). Westpac. Retrieved 27 July 2016, from https://www.westpac.com.au/ Ramanna, K., Sletten, E. (2009). Why do countries adopt international financial reporting standards?.Harvard Business School Accounting Management Unit Working Paper, (09-102). Yao, D. F. T., Percy, M., Hu, F. (2015). Fair value accounting for non-current assets and audit fees: evidence from Australian companies.Journal of Contemporary Accounting Economics,11(1), 31-45. Zhuang, Z. (2016). Discussion of An evaluation of asset impairments by Australian firms and whether they were impacted by AASB 136.Accounting Finance,56(1), 289-294.

My Future Job free essay sample

Maybe you prefer the calmer and less stressful settings of a medical clinic. One thing we all must choose upon graduating is the work place we would like to see ourselves in. For me, I would like to work in a medical clinic or doctor’s office. I prefer the 8 to 5 schedule that you see in an office setting as to the crazy hours hospitals keep. As a working mom, this will benefit not only me, but also my children. Because I have a remarkably relaxed personality, I would work better in a medical office. I do not work well under extreme pressures. Do not get me wrong, I realize that even in a doctor’s office, things can get hectic at times; but, even on the worst of days in an office is still not as stressful as working in a hospital. Having a set schedule with no working holidays or weekends is much more favorable to me as I will be a working mom with two small children. We will write a custom essay sample on My Future Job or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page This schedule will allow me to spend quality family time with my children and provide income to care for them. I will have the chance to help with homework and still be able to be there for significant events such as sporting events or spelling bees. Another way that this schedule will help me is that, on holidays and weekends, I will not have to struggle to find a babysitter or put my children in daycare. This in turn, will save me money. Another reason that I would prefer the medical office setting is the fact that I will get the chance to know each of the patients. I am truly a people person; I would rather get to know someone rather than rush around them. In an office setting, I will have the opportunity to spend more time with the each of the patients and get a feel for who they are, and better ways to help them. Knowing the patients is a momentous challenge that is worth all the rewards it brings. I have seen a myriad of patients switch providers for the fact that the doctors, nurses and staff seem uncaring. When you get to know the person and are able to empathize with them, you not only establish better care for what the patient needs but also gain the trust and respect of the patient. As I see it, these are the only reasons I need, to recognize exactly where I see myself working. Having a job that meshes well with my personality is indispensable to me. I want to wake up each morning and not be able to wait to go to work. The financial stability, while still being able to watch and help my children grow is priceless to me. There is nothing more valuable than being able to be there to support your children in all that they do; having a job that allows me to be there is the only kind for me. Plus add in the benefits of getting to know another unique human being on a daily basis, and helping them prosper, makes working in a medical office the perfect job for me.

Reproductive Technology Essays - Fertility Medicine, Fertility

Reproductive Technology Reproductive Technology Technological development and the advancement of science constantly raises new political and legal challenges. We must promote scientific development, but at the same time we must also impose restrictions involving certain human and social values. Reproductive technology is one of the best examples of the challenges posed by the development of medical science and it's involvement with the law. Issues involved with Reproductive Technology include: Techniques, Morals and Ethics, and The Charter of Right and Freedoms. Reproduction is a fact of life, but it has always fascinated humans. Why did babies die? Why were some people sterile? How can childless couples be helped? To answer these questions scientists began research. This research began mostly in the late nineteenth century. However, some of the techniques used today have been used for hundreds of years. Artificial Insemination is the oldest known assisted reproductive technology. The first known cases of this type occurred in 1790. Many years of research were put into the development of In Vitro Fertilization. Following the research dealing with humans, scientists began with animals. The first successful transfer of an embryo which resulted into the birth of young was between two rabbits in 1891. During this time, many attempts were made to transfer embryos between mammals. Success was not achieved until the 1970s. Using mice proved to be an important advance because the similarity in the technique used for humans. Despite these similarities it was a long time before anyone achieved success in humans. Bob Edwards of the UK reported successful fertilization of human eggs in vitro in 1969. Upon finding a technique to retrieve the eggs, experiments were performed to determine the best time to retrieve the eggs, how long they should be incubated, and what conditions were most favourable for the embryos. The first ?test tube baby? whose name is Louise Brown, was born in 1978. Since the development of these techniques, many new technologies have been established. A total of 20,659 babies were born in 1996 (in the USA) using one of the following techniques: In vitro fertilization, gamete intra fallopian transfer, and zygote intra fallopian transfer. In vitro fertilization involves extracting a woman's eggs, fertilizing the eggs in the laboratory, and then transferring the resulting embryo(s) into the woman's uterus through the cervix. Gamete intra fallopian transfer is when a fiberoptic instrument called a laparoscope is used to help place the unfertilized eggs and sperm into the woman's fallopian tubes through small incisions in her abdomen. Zygote intra fallopian transfer involves fertilizing a woman's eggs in the laboratory and then using a laparoscope to help transfer the fertilized eggs into her fallopian tubes. There are a number of other techniques but they are not as popular and do not have a very high success rate. Other techniques have been used for specific reasons. Some parents who have children with blood disorders decide to have a ?test-tube baby? so that it can save their suffering child. ?Ellen Phillipson called a fertility clinic in Newcastle upon Tyne to discuss the possibility that a baby brother or sister could save her four-year-old daughter, Simone, who has Fanconi anemia?(NP-1). There is a very high demand for this type of reproduction technology. The first ?Designer Baby? is thought to be Adam Nash. ?Adam's parents selected their son's embryo from among others in a petri dish in order to ensure it was free of his sister Molly's life-threatening blood disease, Franconi's anemia.?(NP-2) With all these new reproductive technologies becoming available to people, ethicists are popping up with questions on whether the developing child is harmed during the medical procedure. In the case with Adam Nash, he experienced no pain when donating his umbilical cord (since there are no known nerve terminals in the umbilical arteries). In future cases involving organ donation it will be hard to assess whether the donor child will be harmed. ?How will it be possible to assess whether a child from whom a kidney is removed would have been stronger and healthier had he or she not been subjected to an operation in infancy(NP-3) This question is highly controversial with the ethicists. But there is another concern that passes unnoticed by the ethicists. ?A human being's moral

Solutions for Challenging Counting Problems

Solutions for Challenging Counting Problems Counting can seem like an easy task to perform. As we go deeper into the area of mathematics known as combinatorics, we realize that we come across some large numbers. Since the factorial shows up so often, and a number such as 10! is greater than three million, counting problems can get complicated very quickly if we attempt to list out all of the possibilities. Sometimes when we consider all of the possibilities that our counting problems can take on, its easier to think through the underlying principles of the problem. This strategy can take much less time than trying brute force to list out a number of combinations or permutations. The question How many ways can something be done? is a different question entirely from What are the ways that something can be done? We will see this idea at work in the following set of challenging counting problems. The following set of questions involves the word TRIANGLE. Note that there are a total of eight letters. Let it be understood that the vowels of the word TRIANGLE are AEI, and the consonants of the word TRIANGLE are LGNRT. For a real challenge, before reading further check out a version of these problems without solutions. The Problems How many ways can the letters of the word TRIANGLE be arranged?Solution: Here there are a total of eight choices for the first letter, seven for the second, six for the third, and so on. By the multiplication principle we multiply for a total of 8 x 7 x 6 x 5 x 4 x 3 x 2 x 1 8! 40,320 different ways.How many ways can the letters of the word TRIANGLE be arranged if the first three letters must be RAN (in that exact order)?Solution: The first three letters have been chosen for us, leaving us five letters. After RAN we have five choices for the next letter followed by four, then three, then two then one. By the multiplication principle, there are 5 x 4 x 3 x 2 x 1 5! 120 ways to arrange the letters in a specified way.How many ways can the letters of the word TRIANGLE be arranged if the first three letters must be RAN (in any order)?Solution: Look at this as two independent tasks: the first arranging the letters RAN, and the second arranging the other five letters. There are 3! 6 wa ys to arrange RAN and 5! Ways to arrange the other five letters. So there are a total of 3! x 5! 720 ways to arrange the letters of TRIANGLE as specified. How many ways can the letters of the word TRIANGLE be arranged if the first three letters must be RAN (in any order) and the last letter must be a vowel?Solution: Look at this as three tasks: the first arranging the letters RAN, the second choosing one vowel out of I and E, and the third arranging the other four letters. There are 3! 6 ways to arrange RAN, 2 ways to choose a vowel from the remaining letters and 4! Ways to arrange the other four letters. So there are a total of 3! X 2 x 4! 288 ways to arrange the letters of TRIANGLE as specified.How many ways can the letters of the word TRIANGLE be arranged if the first three letters must be RAN (in any order) and the next three letters must be TRI (in any order)?Solution: Again we have three tasks: the first arranging the letters RAN, the second arranging the letters TRI, and the third arranging the other two letters. There are 3! 6 ways to arrange RAN, 3! ways to arrange TRI and two ways to arrange the other letters. So there are a total of 3! x 3! X 2 72 ways to arrange the letters of TRIANGLE as indicated. How many different ways can the letters of the word TRIANGLE be arranged if the order and the placement of the vowels IAE cannot be changed?Solution: The three vowels must be kept in the same order. Now there are a total of five consonants to arrange. This can be done in 5! 120 ways.How many different ways can the letters of the word TRIANGLE be arranged if the order of the vowels IAE cannot be changed, though their placement may (IAETRNGL and TRIANGEL are acceptable but EIATRNGL and TRIENGLA are not)?Solution: This is best thought of in two steps. Step one is to choose the places that the vowels go. Here we are picking three places out of eight, and the order that we do this is not important. This is a combination and there are a total of C(8,3) 56 ways to perform this step. The remaining five letters may be arranged in 5! 120 ways. This gives a total of 56 x 120 6720 arrangements.How many different ways can the letters of the word TRIANGLE be arranged if the order of the vowels IAE can be changed, though their placement may not?Solution: This is really the same thing as #4 above, but with different letters. We arrange three letters in 3! 6 ways and the other five letters in 5! 120 ways. The total number of ways for this arrangement is 6 x 120 720. How many different ways can six letters of the word TRIANGLE be arranged?Solution: Since we are talking about an arrangement, this is a permutation and there are a total of P( 8, 6) 8!/2! 20,160 ways.How many different ways can six letters of the word TRIANGLE be arranged if there must be an equal number of vowels and consonants?Solution: There is only one way to select the vowels we are going to place. Choosing the consonants can be done in C(5, 3) 10 ways. There are then 6! ways to arrange the six letters. Multiply these numbers together for the result of 7200.How many different ways can six letters of the word TRIANGLE be arranged if there must be at least one consonant?Solution: Every arrangement of six letters satisfies the conditions, so there are P(8, 6) 20,160 ways.How many different ways can six letters of the word TRIANGLE be arranged if the vowels must alternate with consonants?Solution: There are two possibilities, the first letter is a vowel or the first letter is a consonant. If the first letter is a vowel we have three choices, followed by five for a consonant, two for a second vowel, four for a second consonant, one for the last vowel and three for the last consonant. We multiply this to obtain 3 x 5 x 2 x 4 x 1 x 3 360. By symmetry arguments, there are the same number of arrangements that start with a consonant. This gives a total of 720 arrangements. How many different sets of four letters can be formed from the word TRIANGLE?Solution: Since we are talking about a set of four letters from a total of eight, the order is not important. We need to calculate the combination C(8, 4) 70.How many different sets of four letters can be formed from the word TRIANGLE that has two vowels and two consonants?Solution: Here we are forming our set in two steps. There are C(3, 2) 3 ways to choose two vowels from a total of 3. There are C(5, 2) 10 ways to choose to consonants from the five available. This gives a total of 3x10 30 sets possible.How many different sets of four letters can be formed from the word TRIANGLE if we want at least one vowel?Solution: This can be calculated as follows: The number of sets of four with one vowel is C(3, 1) x C( 5, 3) 30.The number of sets of four with two vowels is C(3, 2) x C( 5, 2) 30.The number of sets of four with three vowels is C(3, 3) x C( 5, 1) 5. This gives a total of 65 different sets. Alternately we could calculate that there are 70 ways to form a set of any four letters, and subtract the C(5, 4) 5 ways of obtaining a set with no vowels.

Staffing Essay Example | Topics and Well Written Essays - 750 words

Staffing - Essay Example The criteria of selecting and recruiting personnel have changed over time for several reasons. In the context of this work, entertainment industry and its characteristic social dynamism is to be taken into consideration. The consumer community in the industry and the business environment in general demand more that the services. Efficiency, reliability and ethics are closely observed by the consumers. In that respect, the firm under question needs to reconsider its staffing policies and human resource practices. Key plans are important to achieve desired goals in the organization. The observed industry trends requires strategic plan towards staffing to meet the multivariate societal needs. Movie theater/entertainment industry is extensively associated with the emerging information and communication technology. In that respect, an informed internet based recruitment process would serve multiple roles in getting the best staff (Sears, 2003). In this plan, the following steps are key. This staffing plan constitutes a less costly and accurate online screening technique. It ensures that individuals who fail to meet the preliminary minimum qualification requirements are bundled out. This will help the firm to remain with the cream of the potential recruits. Such a plan would offer highly qualified potential organization staff besides incorporating the concept of interne knowledge and application among the staff. The competency level of an individual may not accurately be developed through mere presentation of credentials. Entertainment industry requires staff with ability to express themselves and make clear communication to fellow staff and customers (Bechet, 2008). In that regard, the actual potential of a recruit relies on ability to communicate effectively through written and spoken language of choice. In this regard, the following plan is appropriate. The combined outcome of such oral and written interview

Does social security adversely affect savings Essay

Does social security adversely affect savings - Essay Example This has therefore started a debate on the reduction of the social security taxes, much because the incentives offered through social security system are not convincing. Considering the fact that, the social security taxes deducted from the earnings of an individual are offered to the retired officers of that time, which means that, deducted amount is neither invested, and it is a source of profitability, which can be later shared with the individuals. The social security system has been meant out, only to collect amount from one end, and distribute it among other party. (Carolyn L. Weaver. Social Security's Looming Surpluses: Prospects and Implications. 1990. Longman. pp. 146) It is therefore more advisable that the individual save or invest the similar amount in some sort of business or financial scheme, and it is expected that the individual can earn appropriate amount during the period of his retirement. Critically, why should a person contribute towards such a system, which is neither investing nor offering any profit or return over the deducted amount, rather it only offers return back. (Christopher Borgman. Social Security, Demographics, and Risk. 2005. Springer Publications. pp. 174) Feldstein hasIMPLICATIONS OF SOCIAL SECURITY SYSTEM Feldstein has provided sufficient material to prove that the system of social security is responsible for decline in the accumulation of total capital. The social security system has adversely affected the domestic productivity; it is because the individual is offered with no other option but to contribute towards the social security system. It the similar contribution had been made by the individuals in banking and businesses would have improved the increased the magnitude of local financial and capital production. Feldstein has provided sufficient evidence to prove that the practice of Social Security is corrupted. It has been able to observe that the social security system is responsible for the reduction in the private saving and local investment, and therefore the magnitude of regression coefficient on the social security variable was negative. The magnitude of the regression coefficient was large enough to warn against the implementation was such exercise, because it had caused much setback for local savings. A large drop in the saving scheme has been experienced since the plan of social security was launched. It has further deplored the situation, as it is important to support and encourage personal saving, so that the activities of banks and other financial institutions can gain momentum. It is being critically evaluated whether the government bonds are based on net wealth for a society. If there is increase in the percentages of the taxes, the government is likely to borrow lesser amount from public, and it can be expected that the government might reduced the percentage of taxes in the future years. This entire system is analogous to the social security system, where the government cuts heavy rates from individuals during particular course of time, and later reduces it, and then offers the packages during the retirement period in corresponding quantities. This practice itself is not fair and appreciable, the amount of social security

Analyzes paper on Medea Essay Example | Topics and Well Written Essays - 1000 words

Analyzes paper on Medea - Essay Example Pasolini’s Medea effectively shows the clash that exists between ancient and old fashioned culture and the modern civilization. Through the relationship between Medea and Jason, viewers are shown how archaic or outdated culture is crashed in the hands of modern culture and the new ways of doing things. Given that the movie takes place in the 1960s, Europe, like most parts of the world at the time, was experiencing change. Through the film, Pasolini effectively shows how different groups in the society attempted to resist such changes, but were overpowered by the wave of modernity. The old was paving way for the new. In this movie, Pasolini successfully brings out the clash between the old and the new, and how the old cultures eventually die in the hands of the modern revolutionary ways. Medea is shown to be a woman of the old, ancient world who is overtaken by the changes taking place in the new world. Medea is portrayed as a woman who experiences reality in a totally differen t way, and sees herself as the only thing that has remained unchanged over time. She still holds onto barbaric and outdated traditions and practices. For example, after the boy is sacrificed and sliced into portions, other larger pieces are burnt. Medea is shown to use a kind of wheel that spins the smoke across the fields. This is an illustration of how Medea believed and prompted old-fashioned practices such as the making of human sacrifices. Her husband Jason and the two children are used to represent modernity. Jason realizes that Medea is too old fashioned for him and decides to marry the daughter of the king, who is much younger. This illustrates who modernity overpowers the old ways. Medea is used to illustrate the sufferings of the ancient people. Through the movie, Pasolini figuratively shows the audience the kind of anguish and pain the ancient people went through in the hands of other barbaric individuals. The movie thus successfully reminds the audience of the need to