Explain How the Fundamental Accoungting Concepts Are Used in Preparing Financial Statement Essay Example

Explain How the Fundamental Accoungting Concepts Are Used in Preparing Financial Statement Essay Explain how the fundamental accoungting concepts are used in preparing financial statement. Use examples to illustrate the application of the fundamental accounting concepts. Accouting is the language of business and it is used to communicate finance information. In order for that information make sencse, accouting is based on 10 fundamental concepts. These fundamental concepts then form the basic for all of the Generally Accepted Accouting Principles (GAAP).And these are 10 fundamental concepts:the Business Entity Concept, Monetary Concept, Historical (Cost) Concept, Going Concern Concept, Dual Aspect Concept, Accrual Concept, The relisation Concept, Consevatism, Consistency, Materially In those fundamental accounting concepts above which I would apply and explain for 6 fundamantal accouting concept below which I think they are used in preparing the Financial Statements: 1. Going concern: -According to Dyson (2006) The going concern concept implies that the business will continue to operate for the fore-seeable future.It means that it is considered sensible to keep to the use of the historical cost concept when arriving at the valuation of assets. And if the business decides to liquidate or become bankrupt then a different approach to valuation is required. -This value includes the liquidation value of a companys tangible assets as well as the present value of its intangible assets (such as goodwill). The going-concern value is worked into the purchase price of a company, and is the main reason why the purchase price of a company tends to be higher than the current value of the assets of the company.For example, the liquidation value of Widget Corp. is $10 million. This sum represents the current value of inventory, buildings and other tangible assets that can be sold assuming that the company is completely liquidated. However, Widget Corp. s going-concern value could very well be $60 million, as the companys reputation of being the worlds leading widget produ cer and its ownership of patents and associated rights for widget production mean that the company should have a large steady stream of future cash flows. 2. Accrual concept When preparing the profit and loss account, revenue and profits, and matched with the associated costs and expenses incurred in earning them. This means that revenues and expenses are recognized when they are incurred rather than when the related cash is received or paid. Accrual of income is always measured over a period of time which is normally the accounting year. Expenses are costs incurred in earning revenue. Those expenditures which may be charged against revenues for a period will be considered as operating expenses.The accrual concept is applied both in ascertaining the revenues for a period and ascertaining the expenses to be charged against the revenues. For example if   a business has a year end of 30th June 193 and there had been an electricity charge of ? 60 for the six months to the end of Decem ber 192 , ? 30 for the quarter ending 31 March 193 , and an estimate of ? 20 has been made   for the quarter ending 30 June 193 . The amount charged in the profit and loss account for the year end 30/06/x3,   will be the charge for the 12 months ? 110, i. e. ?60 + ? 30 + ? 20. This estimate of ? 20 for the March/June quarter is known as an accrual. . Monetary Concept: -Accounting uses money to express certain facts of a business and they can show a expression of the wealth of the business. 4. Consistency concept: There should be consistency of treatment of like items within each accounting period and from one period to next. In other words, once you have chosen an accounting treatment, you should stick with it from one year to next.. It helps the user to make comparisons over time, and so to pick out useful trends. Without consistency we cannot have comparability; and without comparability, financial reporting is rather meaningless.For example, a profit for the year of ? 100m m ay initially be perceived as good, but can only really be assessed by comparison with last year and/or budget for this year. Finally, it must be noted that the consistency concept does not preclude changes being made. Clearly, as time goes by, new accounting practices will develop. However, as these are adopted two things must happen. First, they must be fully disclosed as a change in accounting policy. And second, the comparative figures for the previous year must be restated under the new policy so as to facilitate comparison. . Materiality: -A very small mistake in the financial statements of an entity will not invalidate those statement . They should still be usable by anyone interested in entity. However, the key issue is obviously what we mean by ‘very small’. The concept of materiality applies the test of whether the financial statements still show a true and fair view. The consistency concept says that when a business has once fixed a method for the accounting t reatment of an item, it will enter all similar items that follow in exactly the same way. 6.Dual Aspect Concept -All business events are regarded as having a dual aspect. In all business transaction involves two entries, a debit entry and a credit entry. Each transaction involves two entries, a debit entry and a credit entry. Every debit must have a corresponding credit, the total debits must at any time equal the total credits. Whether this be so or not is easily ascertained by means of Trial Balance. 2. Critically evaluate the role of financial accouting in aiding the decision making processes of 4 different non-management stakeholder group.Your anwers should include an explanation of the nature of the decisions each of the stakeholders are likely to be taking in relation to their interactions with a business. I would chose 4 different non-management stakeholder groups below to critically evaluate the role of financial accouting in aiding the decision making processes: Investors: Investors are the people who invest the money for business so they are concerned about risk and return in relation to their investment. So they require informaiton to decide whether they should continue to invest in a business.They also need to beable to assess wether a business will be able to pay diviend, and to measure the performance of the business management overall. The key accouting information for an investor is therefore: -Information about growth-sales, volumees -Profitability (profit margins, overall level of profit) -Investment (amount invested, essets owned) -Comparative informmtion of competitors Lenders Lenders are the people who lend money in a business as : banks and loan stokholders so they require information that helps them determined whether loans and interest will be paid when due.The key accouting information for lenders is therefore: -Cash flow -Security of assets against which the lending may be secured -Investment requirements in the business Creditors Sup pliers and trade creditors requirement information that helps them Understand and assess the short-term liquidity of a business. They need to know is the business able to pay short-termdebt when it falls dua? Creditors will, therefore,be looking for information on: -Cash flow -Management of working capital -Payment policyThe purpose of financial accounting statements is mainly to show the financial position of a business at a particular point in time and to show the how that business has performed over a specific period. There are three important elements of finance accounting statement : the profit and loss account for reporting period, a balance sheet for the business at the end of the reporting period and a cash flow statement for the reporting period. Government and taxes department: They need to know about the information of Financial Statements of all the company or business who is running the business legal.There are many agencies and departments that are interested in accoun ting information. And through Financial statement they can know the profit the business make to levy taxes. The Inland Revenue needs information on business profitability in order to levy and collect Corporation Tax. Customer excise need accounting in formation to verify Value Added Tax (â€Å"VAT†) returns; local government needs similar information to levy local taxes and rates. Some agencies(e. g the Competition Commission and the Environment Agency) need information to support decisions about takeover and grants . for example investment analysts are an important user group-specifically for companies quoted on stock exchange. They also require very detailed financial and other information in order to analyse the competitive performance of a business and its sector. (1539 words) Explain How the Fundamental Accoungting Concepts Are Used in Preparing Financial Statement Essay Example Explain How the Fundamental Accoungting Concepts Are Used in Preparing Financial Statement Essay Explain how the fundamental accoungting concepts are used in preparing financial statement. Use examples to illustrate the application of the fundamental accounting concepts. Accouting is the language of business and it is used to communicate finance information. In order for that information make sencse, accouting is based on 10 fundamental concepts. These fundamental concepts then form the basic for all of the Generally Accepted Accouting Principles (GAAP).And these are 10 fundamental concepts:the Business Entity Concept, Monetary Concept, Historical (Cost) Concept, Going Concern Concept, Dual Aspect Concept, Accrual Concept, The relisation Concept, Consevatism, Consistency, Materially In those fundamental accounting concepts above which I would apply and explain for 6 fundamantal accouting concept below which I think they are used in preparing the Financial Statements: 1. Going concern: -According to Dyson (2006) The going concern concept implies that the business will continue to operate for the fore-seeable future.It means that it is considered sensible to keep to the use of the historical cost concept when arriving at the valuation of assets. And if the business decides to liquidate or become bankrupt then a different approach to valuation is required. -This value includes the liquidation value of a companys tangible assets as well as the present value of its intangible assets (such as goodwill). The going-concern value is worked into the purchase price of a company, and is the main reason why the purchase price of a company tends to be higher than the current value of the assets of the company.For example, the liquidation value of Widget Corp. is $10 million. This sum represents the current value of inventory, buildings and other tangible assets that can be sold assuming that the company is completely liquidated. However, Widget Corp. s going-concern value could very well be $60 million, as the companys reputation of being the worlds leading widget produ cer and its ownership of patents and associated rights for widget production mean that the company should have a large steady stream of future cash flows. 2. Accrual concept When preparing the profit and loss account, revenue and profits, and matched with the associated costs and expenses incurred in earning them. This means that revenues and expenses are recognized when they are incurred rather than when the related cash is received or paid. Accrual of income is always measured over a period of time which is normally the accounting year. Expenses are costs incurred in earning revenue. Those expenditures which may be charged against revenues for a period will be considered as operating expenses.The accrual concept is applied both in ascertaining the revenues for a period and ascertaining the expenses to be charged against the revenues. For example if   a business has a year end of 30th June 193 and there had been an electricity charge of ? 60 for the six months to the end of Decem ber 192 , ? 30 for the quarter ending 31 March 193 , and an estimate of ? 20 has been made   for the quarter ending 30 June 193 . The amount charged in the profit and loss account for the year end 30/06/x3,   will be the charge for the 12 months ? 110, i. e. ?60 + ? 30 + ? 20. This estimate of ? 20 for the March/June quarter is known as an accrual. . Monetary Concept: -Accounting uses money to express certain facts of a business and they can show a expression of the wealth of the business. 4. Consistency concept: There should be consistency of treatment of like items within each accounting period and from one period to next. In other words, once you have chosen an accounting treatment, you should stick with it from one year to next.. It helps the user to make comparisons over time, and so to pick out useful trends. Without consistency we cannot have comparability; and without comparability, financial reporting is rather meaningless.For example, a profit for the year of ? 100m m ay initially be perceived as good, but can only really be assessed by comparison with last year and/or budget for this year. Finally, it must be noted that the consistency concept does not preclude changes being made. Clearly, as time goes by, new accounting practices will develop. However, as these are adopted two things must happen. First, they must be fully disclosed as a change in accounting policy. And second, the comparative figures for the previous year must be restated under the new policy so as to facilitate comparison. . Materiality: -A very small mistake in the financial statements of an entity will not invalidate those statement . They should still be usable by anyone interested in entity. However, the key issue is obviously what we mean by ‘very small’. The concept of materiality applies the test of whether the financial statements still show a true and fair view. The consistency concept says that when a business has once fixed a method for the accounting t reatment of an item, it will enter all similar items that follow in exactly the same way. 6.Dual Aspect Concept -All business events are regarded as having a dual aspect. In all business transaction involves two entries, a debit entry and a credit entry. Each transaction involves two entries, a debit entry and a credit entry. Every debit must have a corresponding credit, the total debits must at any time equal the total credits. Whether this be so or not is easily ascertained by means of Trial Balance. 2. Critically evaluate the role of financial accouting in aiding the decision making processes of 4 different non-management stakeholder group.Your anwers should include an explanation of the nature of the decisions each of the stakeholders are likely to be taking in relation to their interactions with a business. I would chose 4 different non-management stakeholder groups below to critically evaluate the role of financial accouting in aiding the decision making processes: Investors: Investors are the people who invest the money for business so they are concerned about risk and return in relation to their investment. So they require informaiton to decide whether they should continue to invest in a business.They also need to beable to assess wether a business will be able to pay diviend, and to measure the performance of the business management overall. The key accouting information for an investor is therefore: -Information about growth-sales, volumees -Profitability (profit margins, overall level of profit) -Investment (amount invested, essets owned) -Comparative informmtion of competitors Lenders Lenders are the people who lend money in a business as : banks and loan stokholders so they require information that helps them determined whether loans and interest will be paid when due.The key accouting information for lenders is therefore: -Cash flow -Security of assets against which the lending may be secured -Investment requirements in the business Creditors Sup pliers and trade creditors requirement information that helps them Understand and assess the short-term liquidity of a business. They need to know is the business able to pay short-termdebt when it falls dua? Creditors will, therefore,be looking for information on: -Cash flow -Management of working capital -Payment policyThe purpose of financial accounting statements is mainly to show the financial position of a business at a particular point in time and to show the how that business has performed over a specific period. There are three important elements of finance accounting statement : the profit and loss account for reporting period, a balance sheet for the business at the end of the reporting period and a cash flow statement for the reporting period. Government and taxes department: They need to know about the information of Financial Statements of all the company or business who is running the business legal.There are many agencies and departments that are interested in accoun ting information. And through Financial statement they can know the profit the business make to levy taxes. The Inland Revenue needs information on business profitability in order to levy and collect Corporation Tax. Customer excise need accounting in formation to verify Value Added Tax (â€Å"VAT†) returns; local government needs similar information to levy local taxes and rates. Some agencies(e. g the Competition Commission and the Environment Agency) need information to support decisions about takeover and grants . for example investment analysts are an important user group-specifically for companies quoted on stock exchange. They also require very detailed financial and other information in order to analyse the competitive performance of a business and its sector. (1539 words)

Importance of Vitamins Essays

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Sales and Purchase Management Essay Example | Topics and Well Written Essays - 1000 words

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Effect of Parental Separation on Adolescence

Effect of Parental Separation on Adolescence Zeenat Jawed PARENTAL SEPARATION AND ITS CONSEQUENCES FOR ADOLESCENCE Family is one of the important social spaces which give you identity; shelter, security, senses of belonging and also nurtures the personality of a person. Parents play an important role to run the family with harmony. They provide basis for the development of personality and, guide their children to face the challenges of the real world. Child learn to adjust in society and make relations with others by observing the role of their parents (Bandura, 1989). Parents influence on child development in three different ways which includes direct interaction with child in activities, emotional identification and, telling stories about family members and relatives (Kagan, 1999). The interpersonal relation of parents also has an impact on child development. According to Moore, Kinghorne and Bandy (2011), the quality of parental relationship is allied with the positive or negative outcome in child’s behavior, social competence, and engagement in school, parent-child communication and parental feeling of aggravation. The reflection of parental relation either lifts up or disrupts the child development. If the conflict persists and parents get divorced so it will impact the development of children. This paper will explore worldwide and Pakistan’s prevalence, causes of divorce, and its impact on child’s development in different stages of life briefly, with more focus on adolescence stage. Furthermore, it will also provide some possible interventions for children to cope up with this emotional trauma without compromising their development. The reason for choosing this topic is that I have witnessed a 14 years old girl during my clinical whose parents got divorced that influenced on her life positively and negatively. She involved in studies more and became resilient but simultaneously, she was depressed, had fear about future life, and didn’t participate in any social activities. Prevalence Divorce is the physical and legal separation of spouse from their relation (Parveen, 2010). The rate of divorce is increasing day by day. Worldwide Divorce Statistics, (n.d.), states that Beralus, United Kingdom and United states are among top twenty countries with the highest divorce rate of 68%, 53% and 49% respectively. According to Avila (2013), â€Å"The United States Bureau of the Census (2005) estimated over 1 million children experience parental divorce each year. According to Strohschein et al. (2009) and Juby et al. (2005) as cited in Ambert Vanier Institute of the Family (2005), about 20% -30% children experience parental divorce at the age of 18 and 15 respectively. According to the statistics retrieved from the court of senior civil judge Lahore and Faisalabad, cited in Parveen (2010), since January to April 2008, 3223 and 1466 cases were registered respectively. About 80 to 85 cases are being registered daily. In addition, a study was conducted in Karachi showed that parental conflict results in negative outcome among their children. The study also suggests that 80.5% to 97.5% of children got affected by parental conflicts (Ali, Assad, Mogren, Krantz, 2011). This frequency shows that it is the most scorching issue in our society and around world that compels me to review this issue through my paper. Causes of divorce There is a temporality in the world that every cause precedes an effect. Similarly, there are certain causes that may leads to dissolution of the marital bond. There is no similar cause for every divorce. Frolick, (2011) as cited in Khurshid, Khatoon, Khurshid, (2012) affirms that, â€Å"every divorce is unique like a snow flake†. There is an increasing rate of divorce in Pakistan, and the few prevalent reasons are; Lack of sacrifice, forced marriages, greed, Joint family system, difference in social status and highly career oriented women (Khurshid, Khatoon, Khurshid, 2012). There are incompatible differences between partners that become necessary for the person to get divorced. Lack of communication, poverty, difference in education level, any kind of abuse (physical, emotional, verbal or sexual), disloyalty, early marriages, mismatch (sexual, intellectual and emotional), sexual dysfunction or disease and drug addiction can also be the contributing factors of divorce (Khurshid, Khatoon, Khurshid, 2012). According to Ali, Assad, Mogren, Krantz, (2011), there is a theoretical model that helps to depict the causes of intimate partner violence (IPV) that in my opinion, can leads to separation. These include psychopathological, sociological, gender, and family systems theories. Sociological theories portrayed that low education, economic vulnerability and stress can leads to conflict. Gender theories states the cultural and social construct of gender, where man have power and superiority, while women have inferior status that makes women dependent and vulnerable for violence. Furthermore, in my opinion, uncertainty and hesitation towards spouse can be a risk factor and it was the main cause of divorce in my patient’s case. Moreover, psychopathological theory suggests that certain psychiatric diseases and disorders maybe a contributing factor. Likewise, family system theories revealed that lack of communication, ineffective problem solving can leads to violence. Therefore it can be assumed that these factors can ultimately lead to divorce. Consequences of divorce Consequences for the couple: Divorce can be both positive and negative. In my opinion, getting away from the stressful relationship could be helpful for a person. Individual can live happy life a head if they are not happy and satisfied with their existing marital life. Literature also suggests that those who ends their relation due to high conflict and violence and grasps an opportunity to change are happier in their later life (Waite Gallagher, n.d.). On the other hand, divorce can be a stressful event too. Initially, the divorced couple feels relaxed but as time passes, they become harsh, fragile and easy to break. They become socially isolated and anxious. Furthermore, men are at risk of substance abuse while women are more prone towards depression, poverty, loneliness and stigmatization (Waite Gallagher, n.d.). Literature suggests that regardless of poverty and depression, women get back from the trauma easily as compared to men (Amato Cheadle, 2005). Consequences for children: Attachment theory: The relation and attachment between parents and children is very important for personality development and intimacy in later life. According to John Bowlby theory of attachment cited in Fraley, (n.d.), there are three types of attachment i.e. secure, avoidant and resistant. In the first type of attachment, the child experiences unconditioned positive regard, loving, warm and responsive attitude of parents. It helps to build intimacy, empathic and supportive behaviors towards their partner and tends resolve their conflicts with constructive strategies. In avoidant attachment, parents shows demanding, disrespectful, critical and harsh attitude towards their children. It leads to jealousy, lack of intimacy and love in adulthood. The resistant attachment is the situation of jump in and out that means that the attitude of parents is unpredictable. This pursued the child to amalgamate completely with others and build their relations quickly but it cannot exist for long. The initial years of life is marked with physical, cognitive, language, social and emotional development and it is also vulnerable for acquiring negative things (McIntosh, 2011). The infancy is a very crucial time in which child develop trust in the world with healthy parenting (Americas Angel, 2011). After divorce, the custody of child is given to one parent due to which, the child lacks attention and care from other parent. For example, if an infant is separated from mother, the primary source of satisfaction in infancy, the child will end up in separation anxiety (Stuart, 2009). In my opinion it will develops mistrust in child for the real world. According to Erickson, preschooler stage is marked with initiative vs. guilt (Americas Angel, 2011). They suffers from depression, confusion, indulge in joyless play, desire for the absent parent, feel guilty and blame themselves for the conflict and divorce of their parents (Kruk, 2013). In my view, if parents don’t give attention to their children due to their marital conflicts and separation, this may develops avoidant attachment which subsequently leads to jealousy and lack of intimacy in later life. Likewise, school-age children build competency and mastery by participating more in academics. They make friends that play an important role in developing self-esteem in child (McLeod, 2008). Following divorce, children doesn’t interact with friends more, they suffer from sleep problems and have low grade academic performance (Ambert Vanier Institute of the Family, 2005). In my opinion, low grade results from lack of parental participation in academics and avoidance of children due to marital conflict. Adolescence (11-20 years) is a stage where drastic change occurs such as pubertal changes, peer relation and physical maturity. Stuart (2009) affirms that it is a period where child is moving towards adulthood, preparing for marriage, career, acquiring sets of values and an ethical system. According to Erickson, in this stage, an adolescent forms his own identity which helps to make intimacy in young adulthood. Consequences of separation are equal for both girls and boys (Department of Justice Canada, 1997). Furthermore, I have detected some sign and symptoms in patient and also supported by a literature, adolescents may feel anger, depression, anxiety and fear, and emotional distress, early or late menarche and blame themselves for separation of their parents. Garvin and colleagues (1991) cited in Avila(2013) affirms that children whose parent got divorce had higher rates of depression, sexual acting out, substance abuse, conduct disorders, school problems, and delinquent behavior a s compared to the children of intact family. Furthermore, according to attachment theory, child may feel avoidant and resistant attachment with parents’ that deteriorates academic performance. In my belief it is because of lack of participation of parents in school due to which child get demotivated and shows poor performance at school. According to Stuart (2009), the children face difficulty in identification of one parent as a victim and develop rejection for other. Literature suggests that parental separation also puts a child at risk for divorce (Amato Cheadle, 2005). They become pessimistic about their future intimate relation (Stuart, 2009). Therefore, I believe that this stage is very crucial and could have dangerous affects of suffering. Furthermore, it is also observed that if the custody of child is given to opposite sex parent, it can also lead to problematic circumstances. For example, in Pakistan’s context, if an adolescent girl is living with her father so she may face many problems at puberty because of lack of guidance from mother. Similar situation goes with boys. They cannot discuss their reproductive health problems with mother flexibly. Children might have problems in identification of their same-sex parents due to lack of interaction with non-custodial parents. On the other hand, the divorce can leave positive effects as well. The patient that I had encountered showed positivity and coped with in an appropriate manner. She became resilient, indulges in studies and showed good academic performance. Middleton, (n.d.) insists that child learn positivity and becomes resilient, adaptable, have self-confidence, shows empathy, and learn more through quality time spent with each parent separately. After adolescence, a person enters in adulthood phase where they make relations and start their own family. If the impact of parental divorce is positive, they are most likely to build good relation with their spouse and children. According to Erickson, they develop intimacy and generativity however, in my opinion, they will get isolated from society and family and experience despair because they haven’t achieved their goal due to parental conflict and separation. Recommendations As health care personnel, we need to support child during this traumatic event. It is important to help child in the grieving period. Friends and family member can play a significant role in it. Furthermore, we can involve child in different group work that help to alleviate the depressive symptoms and provides opportunity to deal with pre and post divorce stress. Besides we can support child in reframing their perception about divorce and help to modify their thoughts into positivity. Avila (2013) states that it can be attain with Psycho-educational and counseling which help child to cope with the reality and impacts of separation. Cognitive behavioral therapy can be given to child in order to change their negative thinking (Avila, 2013). Indulge child in activities to divert their mind from stressful situation to the relaxed situation such as sports. Show empathy towards child to make them realize that they are not alone in this situation. Moreover we can refer child to those who h as coped with parental divorce appropriately. In my opinion, it is also important to teach family to support child during this period. Instruct family and custodial parent to allow child to maintain relation with the absent parent. Allow child to choose with whom they wants to live. Guide them not to discuss about the absent parent in front of child otherwise it will make child more depressed. Parents are required to fulfill the need of child and spend more time with them. In conclusion, the inter-parental relation plays an important role in the development of child. They can influence both positively and negatively. Good parental relation can enhance well-being of a child otherwise it will disrupt the development of child. Divorce is the legal separation of spouses. It has both positive and negative impact on the couple as well on their children. Additionally, child will have psychological, behavioral, social, physical and emotional problem in their development. Every stage is very crucial but adolescences are at greater risk to be affected with parental separation as it provides identity to children which help to develop intimacy in later life. By following above mentioned strategies, children can cope up with this painful event smoothly.

Misrepresentation and the Ethical Decision to “Embellish”

Applying for a job is one of the most challenging processes most adults have to undertake. It generally requires an individual to display his or her best qualities in order to create a lasting impression that would make an employer convinced that he or she is right and qualified for the desired job. However, there are times when people get desperate for a job, its high-paying salary, and benefits that misrepresentation in job applications takes place. This is a common practice experienced by employers.This act of false presentation of the self through resumes and personal interviews can theoretically be explained by the psychological idea of establishing a social identity. This social identity that an individual creates is bound to represent him or her in front of the social environment where he or she belongs. In this process of building a social identity or social â€Å"self,† an individual creates a concept of a â€Å"front† which Erving Goffman describes as one†™s representation of performance that can be judged by others depending on the how pleasant and how well-represented the front is (cited in Barnhart, 1994).It may include writing falsely about one’s personal job experience (writing better ones even though the person did really have such experiences), about awards and honors, and even about one’s personal identity. One can easily understand the logic behind the practice of misrepresenting oneself with made-up experiences, achievements, and identity—people do this in order to present themselves in the best way possible and obtain their dream job.However, this act of embellishing one’s resume or profile to make it more appealing to the eyes of the employer also involves several risks. Aside from the possibility that one might get caught immediately and lose the chance of being interviewed, embellishing resumes can also cause him or her to lose his or her job during the time when the person is already worki ng and loving his or her job. In addition to this, misrepresenting oneself may also lead to a damaged reputation (Safani, 2008).Credibility and honesty are two of the most important values an employer always seeks from job applicants. These values do not just build trust but also assures the employers and the company that their members and staff do not have any tendencies of committing fraudulent acts which can possibly involve the company in the future. Thus, the building of trust and confidence between an employer and a future employee starts in the process of application.An applicant’s credibility shall be first tested at that moment when the application requirements have been passed and the employer checks on the requirements to know about the applicant. Hence, this is the crucial time to build up one’s self in a legal, truthful way to be able to develop and maintain that confidence and reputation. In turn, this will enhance a person’s employment history whi ch can further help him or her in future job applications

IKEA Children Labor Reaction

After the publication of the documentals that showed and proved that IKEA used children labor for the production of it's company in India IKEA was forced to react, to try to stop the media crisis and to be concerned and active to stop children labor in non-developed countries like India. The first reaction when all the information appeared was to deny it, saying that IKEA never contract companies that use children labor to do their products, but they accepted the possibility that maybe the companies they were contracting, sub-contract at the same time other corporations that could have children working for them.The spokesperson for IKEA defended the company, saying the contract with its suplier in the Philippines and India has been suspender, when under-age children were found to be making wicker baskets. But that was only the first reaction but sure not last. From that point IKEA changed the way of acting, taking more seriously this aspect and having it as a principal part of the co mpany and of the foundation IKEA owns. From that IKEA addressed the event and it â€Å"sent a legal team to Geneva to seek input and advice from the International Labor organization on how to deal with the problem.Also the company â€Å"added a clause to all supply contracts, stating simply that if the supplier employed children under legal working age, the contract would be cancelled†. This clause, a two-pages code of conduct, is based on the United Nations Convention on the Rights of the Child (1989). The third thing IKEA decided to do is to contract a Third-party that controls and take care of avoiding child labor practices at its suppliers in India and Pakistan. This action was very profitable for the company because it showed a different point of view and favored good publicity and made thing seem fairer from the public's view.In that way the bussines manager of the corporation did some research with well known organizations like Save the Children ( an organization that received on May 15 of 2012 a pledge of $10 million to end child labor in India cotton industry) or UNICEF to get advice. With all that information the manager could travel around the world, see the real situation and developed a label certifying that the carpets to which it was attached were made without the use of child labor.

Project Guidance Format for M.B.A. Essay Example

Project Guidance Format for M.B.A. Essay Example Project Guidance Format for M.B.A. Essay Project Guidance Format for M.B.A. Essay A Project Report on â€Å" â€Å" At Company name Submitted to University of Pune In Partial Fulfilment of Degree of MASTER OF BUSINESS ADMINISTRATION 201-/1- By Student Name [pic] [college name] DECLARATION I, the undersigned honestly declare that, this Project Report entitled â€Å"†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦Ã¢â‚¬  is a genuine and bonafide project prepared by me in partial fulfilment of degree of Master of Business Administration of University of Pune. The Project work is original and the conclusions drawn herein are based on the data collected and analyzed by me. To best of my knowledge, the matter presented in this project has not been submitted and award of any degree, diploma or membership either to this or any other Institute or University. Place: Pune Date: (Sign Name student) â€Å"Certificate on company’s letterhead† CERTIFICATE This is to certify that (Name of the Student) a student of (Name of the college) perusing MBA under Pune University has successfully completed a project on (title of the project) in (name of the department) for the period of . weeks that is from (start date) to (end date) in partial fulfilment of requirements of Degree of MASTER OF BUSINESS ADMINISTRATION. We have found him /her to be dedicated and sincere. Signature (Name designation) Date: (Seal of the company) INDEX |Sr. No. |CONTENTS |Page No. | |1 |ACKNOWLEDGMENT | | |2 |LIST OF TABLES | | |3 |LIST OF FIGURES | | |4 CHAPTER I | | |5 |CHAPTER II | | |6 |CHAPTER III | | |7 |CHAPTER IV | | |8 |CHAPTER V | | |9 |BIBLIOGRAPHY | | |10 |ANNEXURE | | ACKNOWLEDGMENT I express great pleasure in introducing my project entitled â€Å"-â€Å"is a successful outcome of co-operation of many entities. This the platform , where I would like to express my gratitude to all those, who were directly or indirectly involved in completion of this study. I take this opportunity to express my most sincere and heartfelt gratitude to Mr : Tables may be more or less depending upon the tables in each chapter . They should be in minimum words They should indicate scope of the study They should drive the research Project 6. Research Hypotheses The point should cover the following: A Hypothesis is a tentative generalization – the validity of which remains to be tested. Specify research hypotheses that you wish to investigate in this study. They should be clear, specific precise. They should state the relationship of variables. They should be simple They should be limited in scope. They should be testable statements. They should be in minimum number 7. Scope of the Study The point should cover the following: Specific mention should be made of the rational scope of the research problem of the project, such as: Geographical scope of the study. The topical scope of the study. The functional scope of the study Chapter II Profile of the Organization This is the second chapter of the project, which should en velop the following points : 2. 1 Current status of the company 2. 2 Future plans of the Organization 2. 3 Any other relevant information of the Organization The detail descriptions of these points are as under: 2. 1 Current status of the company The Point should cover the following: Current market position of company should be given. Current financial positions of company should be given Reasons for profit/loss should be discussed. Marketing strategies should be listed. 2. Future plans of the Organization The point should cover the following: Future plans of company if any should be specified 2. 3 Any other relevant information of the Organization. This point should cover the following: Any other relevant information regarding the company should be given. Chapter III Research Design and Methodology A good research design ensures against wasteful expenditure of time, money and energy. Thus chapter should contain information on the following points : 3. 1 Sampling Design 3. 2 Source and methods of Data collection 3. 3 Methods of data analysis and statistical Techniques 3. 4 Key concepts and definitions 3. 5 Limination of the Study The detail description of these points are as under : 3. 1 Sampling Design This point should cover the following: Define population with reference to project Sampling unit should be specified Sampling frame should be defined Sample size should be defined Sampling Procedure Statistically /Judgement should be defined Know the budgetary constraints. Understand sampling errors. An explanation of the determination of size and type of sample will also be necessary Proposals not requiring a sample selection should specify their strategy appropriately and describe the rationale. 3. 2 Source and methods of Data collection This point should cover the following : The different types of data that are proposed to be gathered and to be used sho uld be specifically mentioned. Data collection methods may be as: Sources of Primary Data collection ? Observation, ? Field Observation ? Interview schedule, ? Questionnaire, ? Discussion, Sources of secondary data collection : ? Abstract database, ? Full text database, ? Online database, ? Unpublished database, The sources for each type of data and the tools and techniques that will be used for collecting different types of data should be specified. 3. 3 Methods of data analysis and statistical Techniques : The point should cover the following Different types of data analysis techniques used in the research project should be specifically mentioned. Such as: ? Basic analytical tools, which include Tabular Analysis, Graphical Analysis, Percentage Analysis, or Ratio Analysis etc. should be specified. ? Project students can use some advanced techniques in the project for data analysis which includes Regression Analysis, Multivariate Analyses, ANOVA etc. , Should be specified. 3. 4 K ey concepts and definitions: This point should cover the following: If some special technical terms used in the research project, those terms should be defined clearly. 3. 6 Lamination of the Study This point should cover the following: Major limitations of the study should be specified. Chapter IV Data Presentation, Analysis and interpretation This chapter should contain information on the following points: 4. 1 Getting data ready for analysis 4. 2 Data analysis 4. 3 Interpretation of results 4. 4 Discussion on results derived 4. 5 Research Questions Answered The detail description of these points is as under: 4. 1 Getting data ready for analysis Editing data Handling blank responses Coding data Categorizing data Creating data file Programming 4. 2 Data analysis Present data in tabular forms : i. Frequency table ii. Response tables iii. Contingency tables iv. Unvaried tables v. Bivariate tables vi. Statistical tables vii. Time series tables All tables should have technical features, such as : i. Table Number ii. Title of the table iii. Captions ( columns Heading) iv. Stubs( Row heading) v. Table Body vi. Head Body vii. Foot Note Feel for the data (Optional) depending on type of data 1. Use Basic of statistics such as i. Frequencies ii. Mean iii. Standard Deviation iv. Coefficient of Variation v. Correlation vi. ANOVA ii. Etc. 2. Get the basic findings / inferences. 4. 1 Interpretation of results Feel what findings / results are Mean what findings say Read whink and present the inference 4. 2 Discussion on results derived : Link the objectives with results of the data Implications of findings Personal perspective of the students on derived results 4. 3 Research Questions Answered: Feel the research questions are answered Draw and Develop conclusions or generalisations Chapter V Findings and Suggestions This chapter should cover the following : 1. Main Findings 2. Policy Suggestions 3. Scope for further research 1. Main Findings Findings are st atements of factual information based upon the data analysis List all the major findings of the project serially Put the findings in sequence of the study 2. Policy Suggestions Policy Suggestions or Recommendations should flow from the findings They should be very rational and practical They should be specific They should be indicative 3. Scope for further research Project study should indicate scope for further research III) Terminal Items : This point should cover the following points : 1. Bibliography 2. Appendices Questionnaires or Interview Schedules Complex Tables Technical Note 3. Glossary terms 4. Index Bibliography : A bibliography is the listing of the work that is relevant to the main topic of the research interest arranged in the alphabetical order of the last names of the author (s). A reference list is a subset of the bibliography, which includes details of all the citation used in the literature survey and elsewhere in the report, arranged again, in the alphabetical order of the last names of the author(s). At least three modes of referencing are followed in the business research. These are based on the format provided in the publication manual of the American Psychological Association (APA), (2001), the Chicago Manual Style (1993), and the Turabian style (1996). Each of these style specifies with examples, how books, journals, newspapers, dissertations and other documentation materials are to be referenced in the manuscript. Since the APA format is followed for referencing by many journals in the management area, the monograph will highlight the distinctions in how books, journals, newspapers, dissertations and other documentation materials are referenced using APA format as specimen referencing format below : Book by single Author : 1. Benni, Basavaraj, S. , (2005) Dairy Cooperative Management and Practice, Rawat Publication, Jaipur Book by more than one author : 1. Krishnaswamy, K. N. , Appa, Iyer, Sivakumar, Mathirajan. M. , 2006), Management Research Methodology : Integration of Principles, Methods and Techniques, Pearson Education, New Delhi. More than one Book by the same author : 1. Roy, A. , (1998a) Chaos theory, McMillan Publishing Enterprise, New York. 2. Roy, A. , (1998b) Classic Chaos, McMillan Publishing Enterprise, New York. M ore than one Book by the same author : 1. Pennathur, A. , Leong, F. T. , Schuster, K (Eds), (1998), Style and substance of thinking, Paradise Publishers, New York. Chapter in the edited book : 1. Benni, Basavaraj, S. , (2007), Infrastructural Development and Regional Disparity – A Comparative District Level Analysis in Karnataka, in Dash L. N. (Ed ) Economics of Infrastructure, Regal Publication, New Delhi. Journal Article : 1. Benni, Basavaraj, S. , (2006), Sugar Factory Efficiency Measurement : Application of Data Envelopment Analysis – A New Insight for Managers, Paradigm, The Research Journal of Institute for Management and Technology, Vol. X, No. 2, July – December. Conference Proceedings Publication : 1. Benni, Basavaraj, S. , (2007), Status of Public Services in Karnataka – A Comparative District Level Analysis, in Shahu, A. , (Ed), Proceedings of the Second International Conference on Services Management, Oxford Brookes University IIMT New Delhi . Doctoral Dissertation : 1. Benni, Basavaraj, S. (2001), Dairy Co-Operative Societies in Karnataka, unpublished doctoral dissertation, Karnatak University, Dharwad. Paper presentation at conference : 1. Benni, Basavaraj, S. , (2004, August 27th to 29th), Empowering Decision Making Capacity of Global Corporate Managers through Econometric Tools, paper presented a for â€Å"Best Research Paper Competition† in 16th Annual Management Education Convention, conducted by Association of Indian Management Schools, Goa. Government Publication : 1. Ministry of Law, Government of India, (1960), The Copyright Act, 14 of 1957, Delhi Unpublished Manuscript : 1. Pringle, P. S. , (1991), Training and Development in 90s, unpublished manuscript, Southern Illinos University, Diamondale, IL.

The Gender Differences in Conflict essays

The Gender Differences in Conflict essays The purpose of my research is to examine the differences between men and women when it comes to conflict in their relationships. I am defining a relationship as a friendship, romantic, or unromantic association. Conflict is something that is generally present at one time or another during a relationship. If a conflict is not resolved, this could lead to the dissolution of the relationship. By examining the differences in the way each gender handles conflict, conflict should be easier to overcome. Not only how each gender handles conflict, but how each perceives it as well. If there is a significant difference in the way men handle x conflict and women handle x conflict, this can be used as a tool by knowing how each other will react. Research on this topic is important because most people are involved in relationships that will go through conflict at some point in the association. No matter how educated one is, conflict is going to be an obstacle to overcome. Knowing the gender diff erences when it comes to conflict will helps us explore methods and techniques that can be used to resolve conflicts. Conflict is a natural part of a relationship. Conflicts can occur in even the healthiest relationships. Unfortunately, conflict always seems to have such a negative connotation to it. Understanding conflict can make you a better communicator in your personal relationships. Present studies suggest that women are more likely than men to assert themselves when attempting to resolve a relationship conflict (Hojjat, 2000). Men, however, tend to avoid direct conflict and engage in conflict management behaviors that range from conciliatory to avoidant (Hojjat, 2000). My belief is that this can come down to the biological innate differences within men and women. It has been suggested (Hojjat, 2000) that women can cope with conflict within the context of strong negative affects much more competently than can men. Men rec...

Volunteer Tourism but you can choose any subject relative to tourism Essay

Volunteer Tourism but you can choose any subject relative to tourism - Essay Example Some of the subjective factors are age, education, economic status, gender, etc and the objective factors are cultural, social, economic, environmental ones. Indeed a volunteer tourist’s perception of a destination is supposed to be influenced by both subjective and objective factors. An in-depth knowledge of the factors that influence the tourist demography’s perception of destinations can help both the entrepreneurs and the academicians in this sector. Rationales for the Research In current tourism discourses, ‘volunteerism’ or ‘volunteer tourism’ is a nascent idea that is related to a wide range of socioeconomic, cultural and environmental concerns. During these days, the growing individual interest in the alluring yields of alternative tourism in response to the lacks of mass tourism has drawn increasing academic as well as commercial attention to the idea of volunteer tourism. On one hand, modern tourism industry increasingly shifts its at tention from the conventional mass tourism to the volunteer tourism utilizing the consumers’ interest in unique tourism experiences and on the other hand, the frontiers of tourism industry are constantly confronted with the socioeconomic, cultural and environmental concerns while propounding an all embracive definition, of volunteer tourism, that necessarily will define its relationships with those concerns. Since the term â€Å"volunteer tourism† is more of the generalization of a tourism concept that serves as an alternative to the concept of a mass conventional tourism, it appears to be the premise for other particular tourism products such as ecotourism, cultural tourism, adventure tourism, etc that include volunteer components and authenticity of experiences more than conventional mass tourism can offer. Indeed though the tourism industry and its role as direct tourism service providers are quite adaptable with the concept of mass tourism, tourist industry and vol unteer tourism are conceptually contrastive with each other, since volunteer tourists want to â€Å"benefit from displaced self-understanding and the freedom to go beyond the limits that frontiers [of tourism industries] present† (Wearing, 2001:2). Therefore, whereas mass tourism allows the operators of tourism industries to exert control over the tourists’ activities to adhere to the socio-cultural and environmental protection protocols, to an extent that is greater than the volunteer tourism products allow the operators, since the freedom-zeal expected by the volunteer tourists is in direct contrast with such control. It seems that the tourism industry operators are thrown in endless struggle to make them more flexible and adaptable with these expectations meet the tourists’ expectations freedom to go beyond the limitation of conventional tourism industry, as Igor Ackerberg and Parkpoom Prapasawudi say, â€Å"Currently, the sector is moving toward higher comm ercialization with more profit-oriented companies offering volunteer tourism packages, making the study of volunteer tourists’ perception

Marketing and Social Networking Web Sites Essay

Marketing and Social Networking Web Sites - Essay Example It's a straightforward concept that assists build integrity when you are able to put a face to the messenger. Social networking sites like Facebook and MySpace have turned out to be the party lines in this 21st century. They are attractive and fascinating and a powerful tool for communication between people. Learning the way to use them intelligently for marketing can add to any businesses profile. Social networking Web sites provides an important media channel for broadcasting to a diverse demographic, ranging from teens and young to adults, women, moms, prosperous consumers, to elder individuals. In fact experts suppose U.S. ad expenditure on social networks to rise by about 200% by 2011. Consumers react less to conventional media and advertising, and are changing towards consumer-to-consumer communication including mobile messaging, blogging, word-of mouth marketing, similarity shopping sites, and peer-to-peer networks. Study shows that 80% of consumers belief in the advice from online friends, representing thrice as much trust compared to through traditional media. Additionally, one of every three users of the internet visits Web sites comprising of user-generated stuff to aid make purchase choices (Ward, 2007, 3). There are several companies, including P&G, Morgan Chase, Toyota, Unilever and JP Burger King that have successfully leveraged their marketing communications through social networking Web sites to accomplish different marketing strategies. These social sites permit people to communicate freely on anything. However, most significantly allow people to share knowledge that might be helpful to both parties. Numerous common things shared via these sites are fashionable recipes, sites to visit, trustworthy mechanics in their area, superlative place to acquire a steak and still great areas to go fishing. A number of the most well known and established Networking sites comprise of MySpace, SlingAd Videos, Facebook, YouTube, and Twitter. Social Media on the internet is a vast untapped source of leads, projections and partners to business and the good news with this is they are FREE. Thus, in order to take advantage of the social media madness, businesses have to recognize how precisely to monetize this critical untapped resource of prospective business partners. Numerous Online business proprietors have learned the way to establish a Blueprint of themselves over the internet with the rationale of presenting to their consumer that they have used up the time perhaps writing articles, redistribution videos and presenting photos of themselves and their relatives in order for this new consumers not to be intimidated when they contact them through either email or calls. This enables the consumers to easily be capable of