Company Accounting

Question: Write a memorandum to the board of directors of Medibank Ptv Ltd. it must be memorandum form. report form not mark. Answer: Medibank private limited To: The Board of Directors From: MEDIBANK private limited Date: 25.05.2016 Subject: Memorandum of technical aspects consolidation including annual report with financial statements of the group The main business operation of the group focuses for providing the best health care service with the rising cost. It also focuses on the proper benefit claims that are arranged on the further cooperation with the creation of large and sustainable health care benefits for the growth and increment of the sustainability in the rising market competition (Elliott and Elliott, 2008). It also helps in signifying the values and the overheads management for the creation of proper benefits for the company or the group. Strong performance and the provision of the high quality health care are included for the proper enhancement of the business operations. The group consists of the members that include the community, team and the shareholders that creates support for the company and makes the company to feel proud for the creation of the MEDIBANK Community Fund (Epstein and Lee, 2011). Apart from all these, the company is also enhanced by the innovative ideas provided by the members for the proce ss of innovative implementation. The consolidated statements are helpful for the creation of the limitations which are created for the companys financial statements. It is constructed both by the parent entity as well as the subsidiary entity for the proper maintenance of the individual structures in the group (Holton, 2012). Thus, it facilitates the usage of the enhancement that is created for the proper growth of the business group. Since the subsidiary statements are legally separated from the group, it represents that claims cannot be made by the parent for the increment of the profits in the subsidiary organisation. Hence in this case, MEDIBANK private limited could not claim on the profits that are earned by the MEDIBANK Community Fund (Kieso, Weygandt and Warfield, 2011). It creates the significant differences that in one way are helpful for the company for the considerations of the risks evaluations made during its own evaluation. Thus, the company creates a safeguard for itself for the proper continuation o f the regulations regarding the maintenance of the information related to the financial statements of the company. Henceforth the consolidated statements are prepared by parent entity and the legal entity is created by the subsidiary company (Kieso et al., 2010). There are several different types of funding options available for the business organizations in order to raise requisite finance for the necessary business activities of the company. The companies use to raise fund from the banking institutes, besides this, the companies issue share and debentures for raising funds from the public (Kimmel, Weygandt and Kieso, 2007). Debenture is a debt fund, and for the debenture the companies have to give a fixed interest to the debenture holders, when the term of the debenture will be completed and the companies are obligated to provide this interest along with the capital to the debenture holders in any case whether the companies are making profit or not. Besides this, if the company incurring loss then also the company has to pay the amount capital along with interest to the debenture holders (Spiceland, Sepe and Nelson, 2011). The Medibank is an insurance company, which is mainly focus on the health insurance and it is Australias biggest privat e health insurance company. The company is using both the funding instruments shares and debentures in order to raise fund from the market. For shares the company has to pay share of the profits to the share holders but in case of loss the share holders has also incur the loss (Stittle and Wearing, 2008). Besides this the company has dedicated investors and bankers, from where also the company raise requisite fund for the required activities. The company has to provide bonuses to the shareholders and debentures holders in case of profit. The Medibank Private Limited Company is the owner of the Medibank Health Solution Pty Ltd. The general purpose of the financial statements is to provide information to the users of the financial statements and it is prepared as per the Australia Accounting Standards. The financial statements should be complying with the International Financial Reporting Standards as issued by International Accounting Standards (Warren, Reeve and Fess, 2005). The financial statement of the company reveals the corporate governance statement in order to maximize the corporate performance, maximum returns to the shareholders and its value, sustaining the development and success of the company. It includes risk management processes, corporate governance practices and policies and risk management processes. The audit committee analyses the financial statements of the organization in order to determine the value of the company as well as its performance in the current market environment (Wolf, 2008). The sustainability of the organization can be determined and evaluated on the basis of the inform ation given in the financial statements. The income statement shows the expense, income and profit or loss of the company. It helps to determine the long term performance of the company. The annual report can be categorized as financial, regulatory, strategy and operational risks and it also includes economic sustainability risk. The solvency risk of the company can be analyzed with the help to calculating current ratio, debt equity and financial leverage ratio from the information given in the financial statements (Elliott and Elliott, 2008). The non controlling interest is the amount of interest on the outstanding shares of the organization. The non controlling interest is shown in the balance sheet of the company. The non controlling interests are the amount paid on the outstanding shares of the company within the accounting year. The excess of transferred consideration and amounts of the non controlling interests in acquire over fair value of the share of the group of net assets acquired which is recorded as the goodwill (Epstein and Lee, 2011). On acquisition basis, the group determines the non controlling interests to acquire either at the fair value or at proportionate of the non controlling interest of net identifiable assets of the acquiree. The consolidated balance sheet of the company shows the non controlling interest. The balances, unrealised gains and intercompany transactions between the group organizations are eliminated and the unrealised losses are eliminated till the transaction provides the impairment o f transferred asset. The goodwill use to be improved by the acquisition activities performed by the companies as it indicates good financial health of the company. As at the time of the better financial position the companies use to intend to acquire other companies (Holton, 2012). When the company by the efficient acquisition strategy achieve a good acquisition of a promising company then the reputation of the company is immensely increased. Thus, the acquisition strategy of the company has direct relation on the goodwill of the company. In bargain purchase any of traders either the buyer or the seller use to gain. In case of able to reduce the rate of the object the buyer achieves gain and if the rate of the object is not reduced then the seller do gain. In the financial statement, when the company buy any important thing or sale any important thing then it can be find (Kieso, Weygandt and Warfield, 2011). The foreign currency transactions are taking place in the case of the company MEDIBANK private limited. Thus the risks are also evaluated relating to the foreign currency transactions, for the creation of the growth of the company MEDIBANK private limited. The foreign currency contracts and the other related instrument derivatives are traded by the company. For the proper continuation of the trading, the company MEDIBANK private limited reviews its policies for the betterment of the foreign currency exchanges that also helps in forecasting the growth of the company and also enhances the growth of the limits and the credit expenditures. The trading of the exchanges is also included for the company MEDIBANK private limited which helps n the proper initiation of the expenses (Kieso et al., 2010). Thus it also helps in the initiation of the interests that are created by the company for the proper enhancement of the investments. The companys risks are also related to the foreign exchanges that are created for the enhancement of the policies. The subsidiary company that are referred for the foreign subsidiary are the MEDIBANK Community Fund and the HATCHTECH Pty Limited. The HATCHTECH Pty Limited is a company of Biotechnology that is related to the international Federation of the Health plans. The other subsidiaries for the company are the Australian Health Management Group Pty Ltd and MEDIBANK Health Solutions Pty Ltd with their individual companies is also related to the growth of the company. As per the accounting of the financial statements, these companies consist of the current balances which consist of the ordinary shares (Kimmel, Weygandt and Kieso, 2007). It also helps in the generation of the proper structures for the environment and thus it also helps the company MEDIBANK private limited for the proper continuation of the foreign exchanges. According to the Australian Security Exchanges or ASX, the company seems to have the growth with the ongoing years and the financial statements of the company MEDIBANK private limited is seemed to be providing the increment of the benefits that advantageous for the employees. In the year 2014, the benefit of the company is seemed to be 3.9 million but in the year 2015, the benefits achieved by the company are seemed to be 5.1 million (Spiceland, Sepe and Nelson, 2011). Thus, the company MEDIBANK private limited is seemed to be in a state of maximal profit achievement that is gained by the foreign exchange trades and the internal trading. Hence forth the company can be able to strengthen the base and also helps in securing the future perspectives and the benefits of the company. Thus it also helps the company to be benefitted by the removal of the challenges that are forecasted by the financial statement of the company MEDIBANK private limited. References Elliott, B. and Elliott, J. (2008).Financial accounting and reporting. Harlow: Financial Times Prentice Hall. Epstein, M. and Lee, J. (2011).Advances in management accounting. Bingley, UK: Emerald. Holton, R. (2012).Global finance. Abingdon, Oxon: Routledge. Kieso, D., Weygandt, J. and Warfield, T. (2011).Intermediate accounting. Hoboken, NJ: John Wiley Sons. Kieso, D., Weygandt, J., Warfield, T. and Kieso, D. (2010).Intermediate accounting. Hoboken, N.J.: Wiley. Kimmel, P., Weygandt, J. and Kieso, D. (2007).Financial accounting. Hoboken, NJ: John Wiley. Spiceland, J., Sepe, J. and Nelson, M. (2011).Intermediate accounting. New York: McGraw-Hill Irwin. Stittle, J. and Wearing, B. (2008).Financial accounting. Los Angeles: SAGE Publications. Warren, C., Reeve, J. and Fess, P. (2005).Financial managerial accounting. Mason, Ohio: Thomson/South-Western. Wolf, M. (2008).Fixing global finance. Baltimore, Md.: Johns Hopkins University Press.

Biology Osmosis

Question: Discuss about the Biologyfor Osmosis. Answer: Introduction Osmosis is a process where molecules of water move an area of high concentration to the point of low concentration transversely in the cell membrane. Different concentrations of solutes and even water have an effect on the osmosis (Blewett and Taylor, 2011). The paper will address different effects of the 0.5M solution of sucrose, 1M sucrose, NaCl and water on the rates of osmosis. Water Osmosis needs water for it to happen and different concentration of water in cell membrane will have different effects on the rate of osmosis. First and for most, if the concentration of water in between two medium separated by cell membrane are equal, it means that the concentration gradient is zero. The cell membrane will retains its dynamic equilibrium then the movement of water molecules across the cell membrane will not occur (Hasni et al., 2016). The number of particles is the same within the two media. Hence they will be no drive to move from one end to another. On the other hand, when there are differences in water concentrations between the two media separated by the cell membrane, concentration gradient will develop. Water will them move from the region with high concentration to a media where there is a low concentration of water molecules. The water molecules will move till isotonic levels where the concentration gradient will be zero. This is where movement of water molecules will stop (Hilal, et al., 2015). The higher levels of water will increase the rates of osmosis across the cell membrane 0.5M Sucrose The 0.5M sucrose implies that in on liter of water, there are 0.5 moles of sucrose solute. This is 171.15 grams of sucrose for every 1 liter of water. The 0.5M sucrose will form a hypertonic solution in a cell membrane. As compared to pure water, the rates of osmosis here are higher. If the media separated by cell membrane contain water and 0.5M sucrose on the other ends, there will be high concentration gradient developed between the two media separated by a cell membrane (Stefani, 2014). The 0.5M sucrose has got fewer water molecules while water on the other end has got lots of its molecules. Water will then travel from the point of low concentration to the point of low water levels and for this case the region with 0.5M sucrose thus increasing the rate of osmosis across the plasma membrane. 1M Sucrose 1M sucrose means that there is 1mole of sucrose in one liter of water. This is 342.3 grams of sucrose for every 1 liter of water. The concentration of sucrose here is twice that of 0.5M sucrose. The concentration gradient developed will be high (Patankar and Mohalkar, 2014). It will form a strong hypertonic solution, and the cell membrane will allow molecules of water to shift across it starting at their point of high concentration to the area of lower concentration at a faster rate. NaCl and Osmosis Sodium chloride is a solute which has got an effect on the rates of osmosis. When a media containing water is separated by cell membrane with media containing sodium chloride, the concentration will develop, and the sodium chloride will draw in water (Reig, et al., 2014). Water then will move from their region of high concentration to medium of NaCl which is the area of low concentration of water molecules. However, the rates of osmosis in sodium chloride are higher as compared to 0.5M sucrose, water, and 1M sucrose. Sodium chloride will dissociate when mixed with water. Solute dissociation has got the high effect on osmolality where the Na+ will attract oxygen side of the water and Cl- will get attracted to hydrogen part of water (Reig, et al., 2014). The process will increase the rate of osmosis due to charges developed, and more water will be drawn into the medium containing molecules of sodium chloride. Conclusion The rates of osmosis across cell membrane are affected by different solutions. The rates movement of water from their point of more concentration to an area of low concentration transversely in the plasma membrane depends on the type and the amount of solute present in the medium. From the discussion, osmosis across cell membranes separated by NaCl is higher in comparison to that of 1M sucrose and 0.5M sucrose. The NaCl can dissociate therefore its molecules will attract water molecules faster due to developed charge thus facilitating the concentration gradient. Also, 1M sucrose will develop high concentration f gradient as compared to 0.5M sucrose. This is because 1M sucrose is more concentrated hence it will draw in lots of water. 0.5M sucrose is twice lower than 1M sucrose, and it will have twice lower concentration gradient. The rate of osmosis across cell membrane will be slow when the medium separated by cell membrane is only made of water irrespective of their levels. Reference Lists Blewett, M. and Taylor, Z., 2011. Diffusion and Osmosis. Hasni, A., Roy, P. and Dumais, N., 2016. The Teaching and Learning of Diffusion and Osmosis: What Can We Learn from Analysis of Classroom Practices? A Case Study.Eurasia Journal of Mathematics, Science Technology Education,12(6), pp.1507-1531. Hilal, N., Qasim, M., Darwish, N. and Sarp, S., 2015. Water desalination by forward (direct) osmosis phenomenon: A comprehensive review. Patankar, N. and Mohalkar, S., 2014, June. Comparative Study on Shelf Life and Mass Transfer Properties of Dried Pumpkin Pretreated with Sucrose and Brine Solution. InInternational Journal of Engineering Research and Technology(Vol. 3, No. 6 (June-2014)). IJERT. Reig, M., Casas, S., Aladjem, C., Valderrama, C., Gibert, O., Valero, F., Centeno, C.M., Larrotcha, E. and Cortina, J.L., 2014. Concentration of NaCl from seawater reverse osmosis brines for the chlor-alkali industry by electrodialysis.Desalination,342, pp.107-117. Stefani, M., 2014. Forward osmosis: influence of sucrose and sodium chloride as draw solutions on process performance.

Applying Durkheims concept of anomie to social security policy in contemporary Australia Essay Example

Applying Durkheims concept of anomie to social security policy in contemporary Australia Essay Social, political and economic theories are only valuable if they find application in practical government policies. The period spanning the last two centuries has seen the emergence of many competing theoretical explanations for the nature and organization of civil society over the course of recorded history. These theories cover such fields of enquiry as sociology, psychology, political science and economics. The dialectic of the recent two centuries has been between the theory and practice of ‘capitalism’ and its opposing ideology ‘communism’. And each country’s social policies fit within either of these two economic systems. As it stands now, many democratic governments across the world (including here in Australia) have embraced one or the other variant of capitalism. But purely in terms of theoretical principles, it is socialism that offers broad scope for devising and implementing social security policies for citizens. More importantly, in the context of this essay, it is Marxism and Socialism that address directly issues such as public welfare. Since Marxism puts the collective good ahead of individual interests, robust social security policies are to be found within this analytic framework. (Arato Gebhardt, 1978) Moreover, when one looks at the performance of social security measures in Australia, some major failure areas become apparent. Access to basic healthcare, quality education and decent standards of living are in no way guaranteed to a majority of citizens. It is only the top 20 percent of the population (in economic terms) that can avail of these necessities without uncertainty. The rest of the population is dependent on favourable labour market situation, foreign policy environment and public welfare initiatives to make ends meet. In this context, a case is to be made for revisiting the process of the dialectic and look for fairer solutions to these persisting social problems. Marxism and its later branches, including Western Marxism, the Frankfurt School, etc, by way of providing nuanced understanding of the organization of societies also thereby offer new alternative solutions to social issues. (Craib, 1997, p.64) We will write a custom essay sample on Applying Durkheims concept of anomie to social security policy in contemporary Australia specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Applying Durkheims concept of anomie to social security policy in contemporary Australia specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Applying Durkheims concept of anomie to social security policy in contemporary Australia specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Social problems in contemporary Australia and elsewhere are created by inequitable wealth distribution, inequity of power and political franchise, human exploitation for private profits, domination of the working classes by the elites, commoditization of culture and the alienation of humans from their work and from each other. In this context, revisiting Marxism (especially the Frankfurt School) is a healthy exercise, as it has the potential to offer up solutions for these issues. It was Marxism that first propounded the notion of class division – something that was present in all historical societies and civilizations – being at the root of most social problems. Marx was particularly vocal on what he perceived to be the domination of one social group (the working classes/slaves/peasants) by the minority group holding much power and wealth (capitalists/royalty/feudal lords). (Habermas Michnik, 1994, p.5) In contemporary Australian demography such distinctions are not stark. As a participant of the global neo-liberalisation program, Australian economy and society has undergone rapid change over the last three decades. As this rapid transformation unfolded, categorical distinctions of class are no longer straight forward. For example, many highly-skilled immigrant professionals from minority communities were able to establish their careers and integrate themselves into the Australian mainstream. To the extent that this situation has spread the wealth of the country more evenly, the task of the policy makers is alleviated. But public institutions and the policies they implement are still far from ideal, carrying several flaws from the previous eras. And Marxists’ analysis of class domination is still evident in the country. This situation makes it imperative to implement social security policies for the benefit of those groups in the demography that is disadvantaged or ide ntified as high risk. Although Australia is one of the more advanced nations in the world with democratic credentials, its domestic policies are somewhat skewed to favour the elites. With a strong tendency to fall back upon conservative principles, social cohesion in Australia is decidedly less consolidated compared to those of the United States and the United Kingdom. This is reflected in the slew of racist attacks on ethnic Indians (despite official proclamations of them as opportunistic crimes). The overwhelming majority of Caucasian Australians are yet to accept people of other ethnic, racial and cultural backgrounds as their own. This is not surprising when one considers that as recent as 1970, ‘White Australia’ was the official government motto. Marxism and its off-shoots, by way of condemning domination of all sorts, are also against institutions of domination. And bringing in such refreshing new perspectives to the policy framework, Australian society can make rapid strides towa rd greater cohesion and unity. And approaching those solutions from the Marxist perspective is likely to lead to effective and just solutions. The thoughts of Western Marxists, especially the Frankfurt Schoolers are highly relevant too, for their analysis and synthesis is far more sophisticated and insightful than what Marxists traditionally expressed. (Harrington, 2005, p.54) Coming to practical solutions for aforementioned problems, the works of Emile Durkheim becomes quite relevant, for he is a key figure in revisionist Marxist thought. He is seen as an important intellectual figure in twentieth century philosophy and some of the concepts introduced by him are relevant to policy makers. Although Durkheim agreed with many premises of traditional Marxism, he was against revolutionary tendencies therein, and instead preferred a more gradual reformist approach. Also, as against totally dismantling capitalist economic organization, Durkheim suggested a middle path, whereby socialist elements (including social security policies and citizen welfare schemes) could be incorporated within a broader capitalist framework. One of his objections to total revolution is that it would create too much chaos and instability – a situation that would undermine the implementation of any possible reforms. Extending this assessment to the Australian social security policy, the prudent way forward would be to induce welfare measures within the existing institutional arrangements and not aim for radical overhauls.

Future Years SAT Test Dates, Schedules, and Deadlines

Future Years' SAT Test Dates, Schedules, and Deadlines SAT / ACT Prep Online Guides and Tips Future SAT test dates are only confirmed less than a year in advance, but we at PrepScholar have done the hard work of looking at past test date patterns to predict future SAT test dates and registration deadlines. For 2018-19, the official timetable is set in stone. But even though they're more uncertain, we can predict future years like 2020 and 2021 with decent confidence. These predictions have been updated in March 2019 to reflect the latest possible data. For historical SAT test dates, check out our posts on past SAT test dates from 2017-18, 2016-17, 2015-16, and 2014 and before. SAT Test Dates and Deadlines 2018-19 This year's test dates and registration deadlines are officially confirmed by the College Board. Test Date Registration Deadline Late Registration Deadline Aug 25, 2018 July 27, 2018 Aug 15, 2018 Oct 6, 2018 Sept 7, 2018 Sept 26, 2018 Nov 3, 2018 Oct 5, 2018 Oct 24, 2018 Dec 1, 2018 Nov 2, 2018 Nov 20, 2018 Mar 9, 2019 Feb 8, 2019 Feb 27, 2019 May 4, 2019 Apr 5, 2019 Apr 24, 2019 June 1, 2019 May 3, 2019 May 22, 2019 Warning: SAT Test Dates May ChangeSign up to Receive Free Updates // SAT Test Dates and Deadlines 2019-20 The 2019-20 test dates are listed by the College Board but still subject to change. The registration deadlines are projected by PrepScholar. Please read the notes about projection accuracy below. Test Date Registration Deadline Late Registration Deadline Aug 24, 2019 July 26, 2019 Aug 14, 2019 Oct 5, 2019 Sept 6, 2019 Sept 25, 2019 Nov 2, 2019 Oct 4, 2019 Oct 23, 2019 Dec 7, 2019 Nov 8, 2019 Nov 26, 2019 Mar 14, 2020 Feb 14, 2020 Mar 4, 2020 May 2, 2020 Apr 3, 2020 Apr 22, 2020 June 6, 2020 May 8, 2020 May 27, 2020 SAT Test Dates and Deadlines 2020-21 Like above, the 2020-21 test dates are listed by the College Board but still subject to change. All registration deadlines are projected by PrepScholar. Please refer to the notes about projection accuracy below. Test Date Registration Deadline Late Registration Deadline Aug 29, 2020 July 31, 2020 Aug 19, 2020 Oct 3, 2020 Sept 4, 2020 Sept 23, 2020 Nov 7, 2020 Oct 2, 2020 Oct 21, 2020 Dec 5, 2020 Nov 6, 2020 Nov 24, 2020 Mar 13, 2021 Feb 12, 2021 Mar 3, 2021 May 8, 2021 Apr 2, 2021 Apr 21, 2021 June 5, 2021 May 7, 2021 May 26, 2021 SAT Test Dates and Deadlines 2021-22 This 2021-22 SAT test dates are tentatively listed by the College Board but could still change. All registration deadlines are projected by PrepScholar. Look at the notes below to learn more about projection accuracy. Test Date Registration Deadline Late Registration Deadline Aug 28, 2021 July 30, 2021 Aug 18, 2021 Oct 2, 2021 Sept 3, 2021 Sept 22, 2021 Nov 6, 2021 Oct 1, 2021 Oct 20, 2021 Dec 4, 2021 Nov 5, 2021 Nov 23, 2021 Mar 12, 2022 Feb , 2022 Mar 2, 2022 May 7, 2022 Apr 1, 2022 Apr 20, 2022 June 4, 2022 May 6, 2022 May 25, 2022 How to Use These SAT Test Date Projections The vast majority of the dates above should be correct. For example, if you're taking the SAT in November 2019 and want to know whether a test date lands on your birthday or not, this calendar will tell you. At most, our projected dates might be off by a week. However, as it is with all projections, there will always be some margin of error. Feel free to plan your SAT schedule using our calendar. Within a year of your planned test date, check the College Board website for official dates. As long as you don't bet your life on it, the above SAT dates and deadlines should give you a clear idea of when future SAT tests are likely to be held. What's Next? What SAT score should you be aiming for? Learn what a good SAT score is, what a bad score is, and what an excellent SAT score is. Are you aiming for a high score on the SAT? Check out our popular step-by-step guide on how to get a perfect SAT score, written by a full scorer. Thinking about retaking the SAT? Read our guide to see whether retaking the SAT will raise your score. Want to learn more about the SAT but tired of reading blog articles? Then you'll love our free, SAT prep livestreams. Designed and led by PrepScholar SAT experts, these live video events are a great resource for students and parents looking to learn more about the SAT and SAT prep. Click on the button below to register for one of our livestreams today!

Personal Essays for Medical School Essay Example | Topics and Well Written Essays - 3250 words

Personal Essays for Medical School - Essay Example I believe that the institution has a high regard for the underprivileged and the minority, which is a very important feature I have considered in my choice of a learning institution. Apart from the recognition of cultural diversity, I seek a university which places high premium in leadership development. I have been actively engaged in both school and community work that represent a strong sense of service to others. One such stint was my stay with the American Red Cross Bloodmobile through which I have seen the value of serving indigent minorities. Another community initiative I took part in is Tutor Experts which is a venue for providing high quality tutoring for the youth who want to improve their academic performance. I have had a similar teaching stint with the Making Changes Freedom School, emphasizing more complicated facets of adolescent development such as coping up with the challenges of violence, drugs, and alcohol. One program that allowed me to showcase my leadership skills is my membership with the Chicanos in Health Education, a student-run group at UC Berkeley that focuses on minimizing health disparities that confront the Latino community. To allow me to have a realistic preview of the medical profession, I undertook a summer internship at The California Pacific Medical Center in San Francisco in 2003 followed by another internship at the Sharp Chula Vista Hospital in San Diego in 2005. I have also created and facilitated a Decal (Democratic Education at Cal) class entitled â€Å"Introduction to University Life: An Immigrant Perspective.† This course addresses some of the main obstacles of the immigrant student. I have helped create the Peer Mentoring Program to give voice to the needs of Cal students from immigrant backgrounds in adjusting to Berkeley’s complex learning environment. A similar program I have spearheaded is the Community College Resources and

Advanced Financial Reporting & Regulation Assignment

Advanced Financial Reporting & Regulation - Assignment Example The present research has identified that according to the SEC, the BMS company also engaged in ‘cookie jar’ accounting. That is, it created phony reserves for disposals of unneeded plants and divisions during high-profit quarters. These would be carried to decrease the operating expenses in results of the quarters where BMS’ income or earnings figures are insufficient to meet the forecasted amounts. Required: a. Using relevant academic papers, discuss the incentives why managers would resort to extreme earnings management technique such as this. b. Critically evaluate the effectiveness of ‘stuffing the channels’ and ‘cookie jar accounting’ as earnings management devices. Earnings management is any legal activity via which the entity administers its profits earned, retained and distributed and thereafter carries out it's financial reporting, making decisions regarding the contents, details, and disclosures to be provided in the deliverable s to give a true and fair view of its operations. According to Lev, earnings play a very important role not only because they shape up the success of any business but also because they can have drastic effects if the management’s reporting of earnings get manipulated. Therefore, it is of utmost significance for all key personnel of the entity to excel at earnings management, taking into account that it doesn’t involve any manipulative measures and fraudulent practices. According to scenario given in the question, the pharmaceutical company mentioned was similarly involved in maneuvering its books of accounts by using tactics such as ‘stuffing the channels’ and ‘cookie jar’ accounting, resulting into non-compliances, being penalized for the same. The question here arises as to why would managers of this enterprise be engaged in such practices of window-dressing the company’s books of accounts though aware of its adverse consequences of n on-compliance? Following are given few incentives which may urge managers to be indulged in wrongful earnings management: Fulfilling Expectations of Capital Markets: The most common reason for a majority of the times in such instances is motivation to satisfy capital markets. Managers are mostly under extreme pressures to create value for existing and prospective shareholders and when they find no way to do so in real terms, they end up manipulating reporting of earnings thereby affecting favorably stock’s market price in the short run.

Negligence Essay Example | Topics and Well Written Essays - 1000 words

Negligence - Essay Example This paper explores the differences among negligence, gross negligence, and malpractice. In addition, the paper discusses the importance of documentation and its connection with a negligence case in which a patient’s wrong leg was amputated. Negligence, Gross Negligence, and Malpractice In general, negligence refers to the failure by a nurse to give care to a patient in a reasonable and prudent manner in the prevailing circumstances. Thus, negligence refers to any harm caused by a nurse’s carelessness, rather than intentional harm. On the other hand, malpractice is a professional negligence, which occurs when an authorized and licensed nurse fails to give patient care according to the laid down standards (Phillips et al., 2004). That is, care below the standards set by the regulatory body. It is worth noting that the poor standard of such care subsequently causes harm to a patient. The table below summarises the differences and similarities between malpractice and negli gence Malpractice Negligence Definition A professional nurse gives substandard Though prudent and reasonable, a nurse gives unreasonable care Intentional Yes Can be intentional or not Lawsuits in Civil Courts Civil Courts Proof of lawsuit Duty, Breach, Causation and Damages Duty, Breach, Causation and Damages An example of a malpractice is a nurse who intentionally harms a patient by not performing his or her duties according to the laid down procedures and standards. On the other hand, a nurse harming a patient due to carelessness amounts to negligent act. Therefore, any unintentional action or omission that causes patient injuries is negligence while failure to adhere to nursing standards of practice may result in a malpractice lawsuit (Phillips et al., 2004). According to the Joint Commission on Accreditation of Healthcare Organizations (JCAHO), malpractice refers to an inappropriate, unacceptable, and unethical conducts caused by an unreasonable lack of skill by a professional. On the other hand, gross negligence simply refers extreme cases of carelessness by a nurse. The implication by gross negligence is that a nurse has gone far below the standard of care with which a prudent and reasonable nurse may act towards a patient’s care (Phillips et al., 2004). In gross negligence, there is no trace of or slight evidence of care, even by the standards of a careless person. Thus, gross negligence has a degree difference with negligence. Several reasons have been cited as the main causes of negligence, gross negligence, and malpractice including delegation of duties, early discharge, shortage of nurses, hospital downsizing, numerous and advances in technology, better-informed patients, and expanded legal liability targeting medical professionals. With regards to task delegation, many hospitals have certain cost-cutting and cost-containment strategies, which propel them to delegate nursing duties to unlicensed assistants (Phillips et al., 2004). These assis tants may not be aware of a facility's or a regulator’s standards of care or nursing practice act. Second, many facilities discharge patients quite early, prior to full recovery while they still need acute and intensive nursing care. Other cost-containment strategies used in facilities are reduction in the number of nurses, which increases workloads for nurses, thus the likelihood for errors to occur. The many technological