Enron, the smartest guys in the room Essay Example for Free

Enron, the smartest guys in the room Essay Enron was one of the biggest scandal of all time in the stock market. The three main guys leading the pack was Ken Lay, Jeffrey Skilling, and Andy Fastow. The company was not making profit so they decided to do future value accounting. This was shown to shareholders so they can spend money and invest in Enron. The future value accounting just shows a list of future profit that was predicted. What actually happened? Why it can happen again? What can be done to prevent it? and What is now being dont to prevent it? These are the question that will be answered and explained. What actually happened? Andy Fastow was the one who created several smaller companies that would hide the losses Enron had made. Enron showed that they were making great increases in the stock market and others wanted a piece of that. They even convinced their own employees to buy stocks. Enron wanted to hide their scandal so bad that they paid investment company to fire the employee that had any concerns. Enron was behind the California Energy Crisis and made billions off the state. They had the power plants shut down and resold energy for much higher and made outrageous profit. Their company got so big within a short amount of time, but so did their losses. It was getting much harder for them to hide the scandal as their company progresses. A writer at Forbes magazine was the one who started the collapse of Enron. She released an article and what Enron was truly doing and it went downhill from there. Jeffrey Skilling bailed on the company and sold all his stocks and left Ken Lay and Andy Fastow to run the company. Enron eventually collapsed and all the employee lost everything. Jeffrey Skilling and Andy Fastow were sent to prison for the scandal and Ken Lay passed away after the trials. The main thing that can be done to prevent another Enron scandal is the involvement of the investors themselves. The stockholders need to know about everything and anything that goes on in the company they are investing to the best of their abilities. Management and the Board members also play a very big role in avoiding another Enron. They are the one to keep track of the funds coming in and out of the company. Calpers are the current members that watch over the investors money and make sure everything is where theyre suppose to be. Regulators are also important in having strict regulations for companies, but lenient enough so there is room for competition. The Enron Scandal can happen again if a company is using the future value of accounting, but with the new check and order that is set up, it is very unlikely it will happen. These new check and order are very strict and precise on company so that they can prevent another major scandal. Audit committees have the right to access the companys financial statements and have the company cooperate with them at all times. The reason why Enron got away with their scandal for so long was because they had their own audit committee checking up on them. There is no way to completely prevent another scandal, but a scandal as big as Enron will surely not happen again. In the end, check and balance comes in to play to keep any company from pulling a scandal as big as Enron. Because there was a loose leash over the company, Enron took advantage of that to the max and scammed every investor for their money. Now the lesson has been learned and companies are being regulated and watched for the best of the investors.

Nestle Company Analysis Marketing Essay

Nestle Company Analysis Marketing Essay Introduction The marketing communication these days have changed like never before with more emphasis on the non conventional media rather than just relying on the mass media. Companies are no longer looking at the mass media as their saviour to reach out to the masses and convince them; on the contrary many of them find these mass media advertising as intrusive and the messages carried through them does not create the impact as much as they want it to be. Integrated marketing communication is the order of the day with multiple mediums used by the companies ensuring that they reach out to the customers in a more effective and efficient manner. By having the messages communicated through various channels they make sure that these companies are able to create a complete brand experience. IMC tries to integrate various marketing communication channels such as PR, online and social media, mass media advertising etc into one singular entity conveying a compelling simple theme that can get the customer s for the company. The main factor that these companies have to make sure is that they convey a unified message in all the mediums. There are several examples where companies in an attempt to woo the customers tried to pass on conflicting messages thus driving the customers away from them. Synergy between various mediums and the compatibility of the messages in all the mediums thus plays a very important role in this case (Fall C, 2002). NESTLE In UK In a recent media statement, the Swiss food giant Nestle said that they are well placed to cope up with the changing demographics and cost pressures and they are all set to rule the UK market. This statement came in view of the rise in the input prices by almost 10 % which has made other major corporations found wanting. Nestle still believes that they can be a market leader in confectionaries after the huge success of their brand Kit Kat which was well established. But the company has been under severe pressure to streamline its processes due to the fact that there has been an increase in the price of raw materials and that too the customer base in UK is more or less saturating leaving no room for further expansion. Major supplier of cocoa, Ivory Coast going through a rough political phase has been the reason for worry in UK confectionary industry. This leads to changes in prices even though Nestle claims that the pricing wont vary much and would be decided upon based on various segments that they are catering to (Ellwood, I. 2002). All these factors lead to the importance of having a loyal customer base and increased frequency of use by the existing customer base. In order to reach to your customer and get a share of their mind, especially in the FMCG segment it is essential that you have to reinforce the message again and again so as to get a top of the mind recall. In this age when one is bombarded with thousands of advertisements every day, unless and until you try out something different the customers are not really going to pay attention to you. One way to overcome this problem is using an integrated marketing communication approach, wherein the messages are passed on to the customers by means of various channels and thus reinforcing the message. By using various media options that are seen as non intrusive you are actually talking to the customers in a more conducive environment and hence they are more likely to listen to you (Davies, M. 1998). When y ou run a campaign it is essential to monitor the campaign and then guide it at each and every stage so that the money that is spent on advertising is not wasted. This is also possible by the use of various media options like Social and interactive media where the customers essentially form a part of the campaign thus giving them a feeling that they have an involvement in the whole process and thus they feel like owning the product. Integrated Marketing Campaign by NESTLE Nestle has been using Integrated marketing campaigns to good effect in almost all the countries they are into. They have been using non conventional media options to good effect so as to maintain the brand image that they have developed at the same time ensure a top of the mind recall in the minds of the customers. They have been into event marketing which is a very effective mode of communicating with your customers, as they are in a framework of mind to listen to you. C:UsersSharonDesktopAIM-path-to-purchase-generic.jpg For example their recent family days campaign as a part of the Minor league basketball sponsorship. They are using all the available media options for this purpose and have made an interactive website which has already attracted many hits in the initial days of the campaign itself. Thus by making the product a part of the events the company is trying to make it an essential part in the lives of those who love baseball and the customers start associating themselves with the brand more. This gives them immense opportunities to piggy-back on those events and thus creates a hype and excitement around the brand (Brassington, F and Pettitt, S, 2000). They can even analyse the current brand health and these events gives you the best platform to relaunch or reinforce the position in the market. By linking a campaign to loyalty and frequency programs the company can actually get more of repeat purchases thus ensuring that they are getting most out of a profitable customer by maintaining a lon g term relationship with them. Let us now look at various media options that are available, the pros and cons of them with respect to Nestle and then analyse whether they should go ahead with such an option or not. Mass Media Nestle being in FMCG category it is essential for them to advertise and remain in the minds of the customers and hence they have to use mass media. This is the cheapest option in terms of the cost per customer is concerned but the main worrying factor is that most of the developed nations have already admitted the famous death of mass media marketing as there are so many messages bombarded to the customers and they started ignoring the messages or is selectively paying attention to these channels. Another main factor that repels customer attention towards these channels are that the messages which are communicated are not distinctive or refreshing. For example when two companies Nestle and Cadbury comes up with a TV commercial about similar products, the customers dont find any major difference between the two and hence they tend to ignore both and the purchase is often impulsive. By Have a break Have a Kit Kat campaign the company tried to project the chocolate as a thing that can b e used whenever there is a break. The marketing teams often fall into this trap, they cannot survive the competition without getting a share of mind and voice which is possible only with mass media channels, but they themselves know that the message that they communicate is not targeted at the population that they are selling to or the majority does not care to buy the product. But in an FMCG industry in order to ensure parity with others in the market, companies are forced to make media expenditure on the product. The company thus have to ensure that they get the right TV spots whenever they are advertising rather than just extravagantly spending on Television advertising. In case of print media the life of ad is even longer and one can actually target the customers in a more effective manner. They can communicate their brand positioning in a more effective manner and the shelf value of such ads are much more than that of a radio or a TV commercial. Nestle has been not utilising this medium effectively, rather than just concentrating heavily on the TV commercials (Aaker, D and Joachimsthaler, E 2000). They should come out with effective Print ads in various national dailies and magazines that are meant for fun since their target group essentially reads these magazines and dailies. By means of print media, company can give more information to the customers and they can even invite them to be a part of various contests that they are planning in any campaign. Mobile Applications With widespread adoption of mobile phones, this is one of the important areas which can be effectively used by the Nestle. Most of the customers find mobile marketing as non intrusive and hence they welcome it if done in moderation. Again being an FMCG product Nestle have to combine this mobile marketing with any other sort of marketing such as event related or contests. They can give personalised information to individual customers on various product information and event sponsorships like that of Minor League Football Sponsorship. This medium is very effective because of the fact that the company can target its customers in a more effective manner. Unlike mass media which appeals to all sections of the population, in this case only the profitable customers can be targeted by effective use of CRM and database solutions. The messages are passed on to only those who have a good customer life time value according to the company statistics. This medium can also be used to lure those cus tomers who are likely to switch by offering them better deals and better variety of options. Given the tie up of Nestle with major retail stores in UK, it can be stated that they have good information about its customers preferences and they can utilise them to attract the customers into their fold. Online Media Marketers have realised the power of online media and almost every other company is trying hard to use the online media space to communicate their message to the customers. The customers on the other hand prefer this media much more than that of any other media channel because of the fact that this media channel gives them the option of a two way dialogue. Nestle can come up with initiatives to make customers a part of their marketing campaigns by means of suggestions and contests. Online media can be a double edged sword; it can create negative word of mouth which can affect the brand equity. No one realises it better than Nestle as they have already faced the brunt of Milk product campaign which gave them bad word of mouth and the news got spread all across the world in no time because of online media. There were several Boycott Nestle campaigns run across the world. So it has to be handled effectively. Online media also gives in-depth product information that the customers need. O ne of the main challenges that Nestle faces while addressing such an issue is that they have attract the customers to their website, which is difficult in case of an FMCG product. This can be done by having interactive sections, games and contests on the website which will draw the public towards these websites. The company can also go in for advertorials and expert comments which are taken with more credibility by the public. They develop a sense of trust in the brand when the products are endorsed by the domain experts and celebrities. Social networking is one major tool which is being increasingly used by many companies. People who are their target segment are internet savvy and spend most of their time in social networking sites like facebook. The company can promote their products through these sites and get a customer feedback directly from them (Assael, H. 1992). By placing the product promotions within various games and other applications that can help them in making the brand memorable in the minds of the people. One of the important factors why marketers prefer this media option is that they get a direct feedback over a specific marketing campaign that they run and hence they are able to mould it accordingly based on the needs and requirements of the company. Moreover internet offe rs them immense opportunities to promote the product at a very less cost and thus direct the expenses in a more effective manner. Out of the Home Advertising Out of the home advertising has moved on from the ages of static bill boards which occupied the advertising history for so long. Emergence of 3D sign-boards and likes has made the arena more compelling and attractive for the customer to take a note while he is on transit. There are several examples where companies engage in direct battles with the competitors through out of the home media (Baker, M. 2000). The industry is focusing more on OOH as it provides a cheaper substitute to the mass media at the same time helps them in making aware about the product. Nestle even though have been involved in a certain degree of Out of the home mode of advertising, they havent made any real breakthrough as afar as out of the home media is concerned (Booms, B.H. and Bitner, M.J. 1981). They heavily rely on 2D ordinary bill boards still. They have to move out of the conventional methods and try out something new like a 3D billboard. If the company has to target the rural segment then they have to effectively use it. Given the fact that the urban customer base are already on a saturation , Nestle has to concentrate more on its rural population and this can be done effectively with the help of Out of the home media channels. Direct and E-mail Marketing FMCG companies use less of direct and email marketing, as they have very little information as compared to that of many high involvement products. The company have not been using this media option that much. Nestle can still use direct mailers and e mails to its profitable customers. But still they wont have much of an option when they consider such an option. This can be used while they run any particular contests or to attract the customers to their websites. Nestle can use this mode of option to direct the traffic to the website and then promote the products through the website. Marketers can measure the response rate of the direct mailer campaigns and hence can monitor the same very easily. Many companies ignore this route but Nestle can make use of this mode so that it can complement other methods of marketing (David Sebastan, 1959). PROS CONS of IMC: Why it should be Used? One of the main advantages of using an IMC approach in case of an FMCG is that it helps in effective cross functional merging of various media channels rather than just depending on the mass media to deliver. With an integrated marketing approach communication with the customers improves and it ensures that customers voice is also heard and at the same time gives them a sense of involvement in the whole process. By profiling the customers based on demographics and psychographics, Nestle can actually target only those who are actually a part of the target group rather than just communicating with anyone and everyone who is not a part of companies target group (John Gullivan, 1998). By applying strategic segmentation of customers, the company would be clear with respect to the communication objectives that they are upto and they help them in simplifying the whole process as they get an idea about how much to spend on each channel based on the effectiveness of the medium. Integrated mar keting communications approach also makes sure that many offline and online mediums which have high potential but rarely used are also used in the process to ensure that the customers are attacked from all the sides and they essentially develop a sort of bonding with the customers (Hoyer, W.D. and MacInnis, D.J. 2001). With the advent of online and internet marketing numerous ways to woo the customers such as Search engine optimisation e marketing campaigns pay per click, blogs, RSS podcasts etc are used which have proved to be non intrusive and very effective in reaching the customers. One of the main advantages of such a campaign is that Nestle would be able to customise the marketing communications based on the time budget and resources of the customers. This helps in streamlining the available resources with the company in a efficient manner. Nestle being a large corporation has the financial muscle power to utilise various channels to reach out to the customer and thus create a visible difference in their current campaign. The main disadvantages of such a campaign are that there need to be simple message that needs to be communicated through various mediums. If the messages in various mediums are contrasting then it is never going to work in favour of the company. It also depends excessively on the database that the company have and the profiling that they do with the data. If not done in a proper manner then all the money that one spends on it is going to be wasted (Glynn Mangold, David J. Faulds, 1992). The benefits of such campaigns are that it helps the company is maximising the use of money that they spend on marketing communications and it has been seen in many examples that the net results out of such campaigns per dollar is much more than that of normal mass media communications. It helps in interacting with the customers at an individual basis which is more effective and when you have a simple compelling story to tell through various media channels it is going to be a success for sure.

Chemical Analysis of Water Supply

Chemical Analysis of Water Supply Introductions This EEI’s purposed is to identify and make justified conclusions to three unlabelled water supply that have been taken from different locations within the Kedron Brook area. Using several tests to find which water supply came from, measuring its pH, turbidity, conductivity and etc. There are other task such as systematic analysis (comparing and contrasting previous year student’s results) and how to make water drinkable. Water is a molecule with one oxygen and two hydrogen atoms, bonded by shared electrons. Large differences in electronegativity lead the formation of permanent dipoles. This is what we call a polar molecule. In water its charged positively near the hydrogen atoms and negatively near the oxygen atom. Water molecules are naturally attracted and stick to each other because of this polarity, forming a hydrogen bond. The reason why water is called the â€Å"Universal solvent† is because it can dissolve more substances than any other chemical. This is due to its polarity of the water molecule. The two hydrogen atoms carry a positive electric charge, while the oxygen atom carries a negative electric charge. This helps the water separate the ionic compounds into their positive and negative ions. The positive portion of the compound is attracted to the oxygen ion while the negative side of the compound it attracted to the hydrogen ion. Principle The greater the forces of attraction the higher the boiling point or the greater the polarity the higher the boiling point. In the case of water, hydrogen bonding has a strong attraction. It takes a lot more kinetic energy in an increased temperature to break the hydrogen bonds to free the water molecules as the gas. This is why water has a boiling point of 212 °F (99.98 °C) it is from the result of its strong attraction. The pH (power of hydrogen) of a solution is a measure of the molar concentration of hydrogen ions in the solution and as such is a measure of the acidity or basic of the solution. Solutions with a pH less than 7 are said to beacidicand solutions with a pH greater than 7 arebasicoralkaline. Water has a pH of 7 this makes it neutral. As water has a pH of 7, it can be both an acid and a base but it can be determine what it is. It can be considered an acid in somereactionsand a base in others. Water can even react with itself to form acids and bases. When molecules are put into water, sometimes they break down and release an H+ (hydrogen) ion. At other times, it releases an OH-(hydroxide) ion. When a hydrogen ion is released, the solution becomes acidic. When a hydroxide ion is released, the solution becomes basic. Those two special ions determine whether it is an acid or a base. Sample of an acid Acetic Acid (CH3COOH) into (CH3COO– + H+) The hydrogen ion separates itself from the compound. Sample of a base Sodium Hydroxide (NaOH) into (Na– + OH+) The hydroxide ion separates itself from the compound. Dissolved oxygen (O2) isoxygen dissolvedinto the water. Dissolved oxygen can get into water in two ways, through atmospheric oxygen mixing into a stream in turbulent areas or by the release of oxygen from aquatic plants during photosynthesis. The solubility of oxygen is affected by temperature and the partial pressure of the water. The chances of solubility of oxygen are much greater in cold waters than in warm waters. Oxygen slips into pockets that exist in the loose hydrogen-bonded network of water molecules without forcing them apart. The oxygen is then caged by water molecules, which weakly pin it in place. Dissolved oxygen is important to aquatic life as it is the means of breathing to them. Although it could be loss resulting to the loss of aquatic life from: Temperature Turbulence Vegetation Elevation Salinity Turbidity is a measure of the degree to which the water loses its transparency due to suspended solids (like dirt). The more total suspended solids in the water, the murkier it seems and the higher the turbidity. As there are suspended particles floating it absorbs the heat from the sunlight causing reduce dissolved oxygen, reducing aquatic life. Conductivity is a measure of how capable water can pass electrical flow. It is relates to the concentration of ions in the water. These conductive ions come from dissolved salts such as alkalis, chlorides, sulfides and carbonate compounds. Salt is important as it dissolves and bonds with the ions in water easily. For the electric current to flow through water, there must be a positive and negative pole. Such as the elements H2O and NaCl bond which create a positive and negative ion. The more ion that is represent the higher the conductivity such as sea water, and water with fewer ions has less conductivity such as pure water. Unlike temperature and dissolved oxygen, small amount of nitrates usually does not have a direct effect on aquatic insects or fish. Though, excess levels of nitrates in water can create conditions that make it difficult for aquatic insects or fish to survive. Nitrates and nitrites are good for agriculture as they contain atoms of nitrogen and oxygen for plants to produce amino acids, but not well for aquatic life. With water containing nitrates and nitrates, algae and other plants can grow faster, as the algae die and decompose; they deplete the water of dissolved oxygen resulting death to aquatic life. Precipitation is the action or process of precipitating a substance from a solution. A precipitate is created by the reaction caused by two different solutions. A precipitate is formed is due to the solubility of the two solutions. The chemical reaction produces a solid when the two solutions, isn’t soluble also known as insoluble. Nitrate (NO3) Chlorate (ClO3) Perchlorate (ClO4) Acetate (C2H3O2) All nitrates, chlorates, perchlorates, and acetates are soluble Chloride (Cl) Bromide (Br) Iodide (I) All chlorides, bromides, and iodides are soluble, except those of silver, mercury(I), and lead(II) Sulfate (SO42-) All sulfates are soluble except those of mercury (I), lead(II), strontium and barium (calcium sulfate is only slightly soluble) Hydroxide (OH) Sulfide (S2-) All hydroxides and sulfides are insoluble except those of calcium and strontium are slightly soluble and barium hydroxide is moderately soluble Oxide (O2-) Carbonate (CO32-) Phosphate (PO43-) Oxalate (C2O42-) All oxides, carbonates, phosphates, and oxalates are insoluble Soluble and insoluble solutions This report also aims to explain how to make water drinkable by considering the standards of drinkable water. Drinking water does not need to be completely pure to be safe. This is because water is a good solvent. Drinkable water should contain no harmful concentrations of chemicals and bacteria; they can easily be recognised from its appearance, taste or colour. Such as saltwater, the reason why saltwater is undrinkable is because the water contains different kinds of salts and other minerals and having an overdose of saltwater in the body could cause serious danger.

Kevlar and Nomex Fibers :: kevlar nomex fiber

Kevlar fibers are 5 times stronger than steel. Since the introduction of Kevlar technology, industries have used Kevlar for many applications. Kevlar is most commonly used in safety applications such as bullet-proof vests for law enforcement agents, helmets for military infantries, and as protection from fire. Kevlar is a synthetic (person-made) material known as a polymer. A polymer is a chain made of many similar molecular groups bonded together called monomers. A single Kevlar polymer chain could have anywhere from five to a million segments bonded together. Each Kevlar segment or monomer is a chemical unit that contains 14 carbon atoms, 2 nitrogen atoms, 2 oxygen atoms and 10 hydrogen atoms. The hydrogen bonds greatly strenghten the polymer chain. The pattern shows that the aromatic components of Kevlar have a radial (spoke-like) orientation. The radial orientation is important because it allows the polymer chains to be well-ordered and symmetric like the atoms in a crystal. Because of this highly ordered structure, a fiber of Kevlar has few structural flaws or weak places. This lack of flaws or weak places is the biggest reason for the exceptional strength of Kevlar. Kevlar is a magnificent material due to the way that it can disperse the energy and force of an object by its chemical composition. As we know from physics, the pressure that an object exerts on another object is equal to the force divided by the area. Kevlar is remarkable at absorbing and displacing the pressure of an object. Pressure = Force/Area F = (mass * gravity) The ability to absorb energy and displace the pressure of an object makes Kevlar so useful in protecting us from knives, bullets and infinite types of sharp objects. Military helmets today are much lighter and much stronger than helmets of the past. Helmets of the past consisted of metal. As you know metal can get heavy, especailly after long durations of time. Kevlar is also five time stronger than metal. The new Kevlar helmets help keep our troops safe, and do not cause fatigue on their heads. Combat vehicles use composite panels made of Kevlar liners mounted to the inside of the vehicles structure. With the combination of other metals or ceramics, they greatly increase the survivability for the crew members. Kevlar does not melt or shrink when exposed to extreme heat. It is also extremely resistant to cuts, punctures, ans chemical substances. Many new canoe makers make their canoes entirely out of Kevlar.

Developmental Assessment Essay -- Child Assessment Essay

The child I chose to write about for this assignment is two year old Danjuma from Wayne, Ohio. He is the youngest of three children and attends an Early Head Start Program two days a week. The child’s parents have jobs; when the mother is working her sister takes care of Danjuma. The family has financial problems but don’t qualify for any type of public assistance. Danjuma is twenty-four inches tall and twenty-eight pounds. He walks well and has good coordination; he can be seen running, jumping, creeping, crawling, and rolling. He can kick a small ball forward as well as catch a ball using is full body; he can also throw a ball overhand. At home he can turn doorknobs, get himself undressed, and can feed himself using eating utensils. At the Early Head Start Program Danjuma enjoys completing simple puzzles, scribbling, shaking rhythm instruments, manipulating clay, and different finger play activities. He loves washing his hands on his own but requires help at home due to the fact that he can’t yet reach the sink. Like any child, Danjuma loves using his senses and motor skills to explore his world; he can be seen looking intently at his toys and food as if curious about them; he also still puts objects in his mouth to further explore what they are. When taken to a new place, Danjuma shows curiosity; his mother recently took him to the library for the first time. The child ran immediately to the children’s section, touching and looking at everything with enthusiasm. Danjuma did all of this again the next time he went to the library as if he was remembering about what he did the last time he was there. This child recently got a shape sorter toy; he has been seen struggling to get the correct shapes in each hole. Wh... ...nts and teachers. The socioculture theory talks about how â€Å"†¦parents, caregivers, peers and the culture at large are responsible for the development of higher order functions.† Basically, the child in question is influenced by what goes on around him. He is read to a lot at home, so he has started trying to read familiar books on his own. He sees new opportunities every day to do something new that his friends are trying, so of course he has to try it too. He has also learned that the way he talks with his family is okay because they ‘translate’ everything he says to others that don’t understand him. Works Cited http://psychology.about.com/od/developmentecourse/f/sociocultural-theory.htm http://www.sparknotes.com/psychology/psych101/personality/section3.rhtml http://www.education.com/reference/article/arnold-gesell-child-learning-development-theory/ Developmental Assessment Essay -- Child Assessment Essay The child I chose to write about for this assignment is two year old Danjuma from Wayne, Ohio. He is the youngest of three children and attends an Early Head Start Program two days a week. The child’s parents have jobs; when the mother is working her sister takes care of Danjuma. The family has financial problems but don’t qualify for any type of public assistance. Danjuma is twenty-four inches tall and twenty-eight pounds. He walks well and has good coordination; he can be seen running, jumping, creeping, crawling, and rolling. He can kick a small ball forward as well as catch a ball using is full body; he can also throw a ball overhand. At home he can turn doorknobs, get himself undressed, and can feed himself using eating utensils. At the Early Head Start Program Danjuma enjoys completing simple puzzles, scribbling, shaking rhythm instruments, manipulating clay, and different finger play activities. He loves washing his hands on his own but requires help at home due to the fact that he can’t yet reach the sink. Like any child, Danjuma loves using his senses and motor skills to explore his world; he can be seen looking intently at his toys and food as if curious about them; he also still puts objects in his mouth to further explore what they are. When taken to a new place, Danjuma shows curiosity; his mother recently took him to the library for the first time. The child ran immediately to the children’s section, touching and looking at everything with enthusiasm. Danjuma did all of this again the next time he went to the library as if he was remembering about what he did the last time he was there. This child recently got a shape sorter toy; he has been seen struggling to get the correct shapes in each hole. Wh... ...nts and teachers. The socioculture theory talks about how â€Å"†¦parents, caregivers, peers and the culture at large are responsible for the development of higher order functions.† Basically, the child in question is influenced by what goes on around him. He is read to a lot at home, so he has started trying to read familiar books on his own. He sees new opportunities every day to do something new that his friends are trying, so of course he has to try it too. He has also learned that the way he talks with his family is okay because they ‘translate’ everything he says to others that don’t understand him. Works Cited http://psychology.about.com/od/developmentecourse/f/sociocultural-theory.htm http://www.sparknotes.com/psychology/psych101/personality/section3.rhtml http://www.education.com/reference/article/arnold-gesell-child-learning-development-theory/

The Expenditure Cycle

CHAPTER 10 THE REVENUE CYCLE: SALES AND CASH COLLECTIONS SUGGESTED ANSWERS TO DISCUSSION QUESTIONS 10. 1This should generate a great deal of discussion. The basic issue concerns the willingness of consumers to divulge the kind of information that would allow companies to personalize the sales interaction versus concerns that such information would be misused or sold to other parties. In addition, with the growing problem of identity theft, consumers are becoming increasingly concerned about the safety and security of their personal information. Companies that wish to collect this data will most likely have to demonstrate the need for this information to the consumer and also the company’s ability to keep this information secure. 10. 2Digitized products force little change on the four business activities of the revenue cycle. For all products, whether digitized or not, an order must be taken, the product shipped, an invoice delivered, and cash collected. The only thing that digitized products do is change the way these four activities are carried out. Digitized products actually facilitate the four activities by incorporating electronic sales orders, shipping, billing, and cash collections. 10. 3Employees need to be trained to use the POS properly. Such training should include understanding how the POS works, stressing that . In that errors on the employees part will directly affect the inventory master file numbers. If an item does not â€Å"scan†, then it must be rescanned or dealt with so that the integrity of the records is upheld. Similarly, employees should be trained not to skip sales. If an item does not â€Å"scan†, the employee should be trained to accurately enter in the â€Å"bar code† of the item. Entering a generic or erroneous code not only creates an inventory error, but it also frustrates the customer who may take their business elsewhere. In addition, employees should be trained to report and/or fix errors in bar codes as they are encountered and in a timely manner. 10. The report already provides dollar amounts outstanding by number of days past due by customer and by invoice. However, the percentage of total accounts receivable categorized by days past due would help to alert management of categories that are increasing. This could also be reported by customer and by invoice. This way if a particular invoice was not being paid, the company could more quickly identify the invoice, contact the customer, and potentially resolve any problems or disputes about the particular invoice. In addition, reporting by customer can help to identify chronic â€Å"slow paying† customers so that corrective action could be taken such as offering discounts for quick payment, changes in term, and notifying the credit manager to restrict credit for this particular customer. Furthermore, the company may have a certain threshold for each category of past due accounts either in percentages or absolute dollars. A metric could be calculated and presented that highlights the categories exceeding that threshold. 10. This is a good question to get students to explore and compare the role of technology in dynamic price setting policies. You may want to preface the discussion by relating the following scenario: You have graduated from collage and started your own consulting firm. A client has an urgent need that requires you to travel to his location. Since this is a last minute trip, you pay full price for an airline ticket. Since this client is on a fixed contract, you cannot char ge the cost of the ticket back to the client. While riding on the airplane you find yourself sitting next to a college student who is majoring in accounting. During the course of the conversation with this accounting student, you find that he purchased his airline ticket from a discount reseller and paid less than half of what you paid for the same flight. How do you feel about this arrangement? Do think this type of pricing arrangement could transfer to other products? Would the companies that sell these other products be put at a competitive disadvantage when customers find that they are paying different prices for the same goods or services? 0. 6The instructor can facilitate discussion of invoiceless pricing in a B2C environment by asking students how they would feel about not receiving a phone or cable bill. What are the problems the phone or cable company and phone or cable consumers encounter without a paper bill? What about billing problems and disputes. What about payment deadlines or consumers that want to pay in person or pay in cash? 10. 7Any form of electronic or digital cash has the same audit risks as physical cash: susceptibility to theft and loss of an audit trail. In addition, digital â€Å"cash† also has risks associated with the durability of the store of value – to what extent can the cash be recovered if the storage media becomes defective? Another issue concerns the potential loss of privacy, because the digital currency can be â€Å"marked† in a manner that enables tracing its path through the economy. 10. 8 Why not indeed? Copies of the sales order can be used by inventory personnel as a picking ticket to select inventory items ship to the customer. In similar fashion, the sales order converted into a picking ticket can also be used as a packing slip. Just make sure a copy is sent with the package and not the original so that in case there is a problem the original form can be reviewed for any errors or discrepancy. If sales orders are created electronically, the information contained on the electronic sales order can be used to create paper (or electronic) picking tickets, packing slips, or invoices. SUGGESTED ANSWERS TO THE PROBLEMS 10. 1Types of controls used at various steps in the revenue cycle. Process/ Activity ThreatApplicable Controls (P = Preventive, D = Detective, C = Corrective) Sales order entry1. Incomplete or inaccurate customer orders 2. Credit sales to customers with poor credit 3. Legitimacy of order 4. Lost sales due to stockouts, excessive carrying costs, and lost revenue due to markdownsVarious data entry edit controls P Proper credit approval, prior to delivery of goods or services P; accurate, current customer data P Authorized customer purchase order P; digital signatures D Inventory control systems P; periodic physical inventory counts D; improved sales forecasts P; better supply chain management P and C Shipping5. Shipping errors: †¢Wrong merchandise Wrong quantities †¢Wrong address 6. Theft of inventory Compare sales order with packing list and shipping documents D; bar coding P Physical access controls P; documentation of all inventory movements D; periodic physical inventory counts D Billing and accounts receivable7. Failure to bill 8. Billing errors 9. Errors in maintaining customer accountsSegregation of shipping and billing functions P; one-for-one matching of invoices (or EDI acknowledgments) against shipping documents D and C Comparison of sales orders, shipping documents, and invoices P and C; various edit checks D and C Data entry edit checks D and C; use of remittance advices P; monthly statements to customers D and C Process/ Activity ThreatApplicable Controls (P = Preventive, D = Detective, C = Corrective) Cash collections10. Theft of cash Segregation of cash handling and accounts receivable functions P; use of lockboxes or EFT P; bank account reconciliation by someone not involved in cash receipts processing D and C; segregation of bad debt/credit memo authorization from cash handling and accounts receivable functions P General11. Loss of data 12. Poor performance Backup procedures C; disaster recovery plans P; physical and logical access controls P Development and periodic review of appropriate performance metrics D and C 10. 2 Information Technology to enhance the restriction of physical access to inventory: 1. Electronic locks on all entrances and exits to the inventory area. 2. Smart card technology where employees must scan their ID card prior to entering/exiting the inventory area. 3. Install motion detectors. 4. Attach security tags to inventory items and install security tag scanners at each exit of the inventory area. . Attach RFID tags to inventory items to track the movement of inventory. 6. Install and monitor surveillance cameras in the inventory area. 7. Install an infrared alarm system. 8. Build a fence around the inventory area and equip the fence with cameras and sensors. 10. 3a. Shipping personnel should be required to document (on paper or by computer) receipt of goods from the finished goods storeroom. This procedure acknow ledges responsibility for custody of the goods transferred. b. Either a redundant data check or closed loop verification could be used. If the transactions are being entered in batches, redundant data such as the first five characters of the customer's name could be included in each input record; after finding a match on customer account number, the system would also verify that the name characters match before posting the transaction. If the transactions are being entered online, the system could respond to operator entry of the account number by retrieving and displaying the customer's name for the operator to review. c. Up-to-date credit records should be maintained, and credit checks should be made prior to approval of sales orders. . A receiving report should be required to support the authorization of credits for sales returns. e. Separate the function of authorizing write-offs of uncollectible accounts from the function of handling of collections on account, in order to prevent any single individual from perpetrating this type of fraud. f. Shipping personnel should be required to record the actual quantity shi pped on the order document and/or enter the quantity shipped into the sales order processing system, in order that bills can be prepared based upon the quantity shipped rather than the quantity ordered. . Supervision of mailroom operations, limitation of authority to endorse checks to the cashier only, and instructions to the bank to accept only those checks endorsed for deposit in the company's account. h. Cash receipts should be listed and totaled in the mailroom before the cashier receives the checks. A third person compares the amount deposited as shown by a validated deposit slip to the batch total prepared in the mailroom. i. All sales tickets should be prenumbered and accounted for. This would quickly spot a missing ticket. j. Segregate shipping and billing functions. k. Implement accurate inventory control and sales forecasting systems including periodic physical inventory counts and frequent review and revision of sales forecasts. l. A system of user IDs and passwords is the first line of defense followed by allowing â€Å"read only† access to customer data for sales staff, implement access controls over individual terminals, and maintaining activity logs. m. Regular backups with copies being stored off-site. n. Backup generators as well as cold and/or warm site contracted backup facilities. o. Encrypting sensitive data prior to transmission, creating virtual private networks, and transmitting data over secure socket layer (SSL) networks. p. A system of user IDs and passwords is the first line of defense followed by allowing â€Å"read only† access to price lists for sales staff, implement access controls over individual terminals, and maintaining activity logs. q. A system of user IDs and passwords is the first line of defense followed by allowing â€Å"read only† access to customer data for sales staff, implement access controls over individual terminals, and maintaining activity logs. In addition, formal non-compete agreement could be used when hiring personnel. r. A nightly backup with copies being stored off-site. s. Periodically testing backup data for access and compatibility with current company hardware and software. 10. 4 Formulas: Sales (1% Growth Rate) E5 and Row 5:=D5*101%, =E5*101%, =F5*101%, †¦ Cash Collections:D7:=D5*40% E7:=E5*40%+D5*30% F7:=F5*40%+E5*30%+D5*20% G7:=G5*40%+F5*30%+E5*20%+D5*8% Copy and paste G7 formula to remaining cells Beginning Balance:E2:=D9 (same formula for remaining cells in Row 2) Ending Balance:D9:=D3+D7 (same formula for remaining cells in Row 9) Spinner and Scroll Bar:

Introduction to Modernism in an Architectural Context

Introduction to ModernismModernism Architecture is a manner of architecture that emerged around the clip of the Second World War in many western states. The roots of Modernists can be traced back to a Russian designer by the name of Berthold Lubetkind ( 1901-1990 ) and his architecture pattern TECTON. Specifying Modernism, nevertheless, may look as an unlikely undertaking. This is because as a manner, it lacks clear boundaries and is by and large less coherent. Besides that, it besides incorporates a big assortment of gustatory sensations, design manners and esthesias. Due to this fact, many critics would reason that modernism is non a remarkable manner and many interior decorators say that they follow no â€Å"style† . A clear illustration of this is Frank Lloyd Wright. The celebrated designer objected to be placed in the same group as modernist. However, without him, modernist architecture would ne'er hold been the same.Features of modernismThe first and most obvious of mode rnism architecture’s features is that the design of the edifice is inspired by map. â€Å"Form follows Function† was said by Frank Lloyd Wright’s wise man, Louis Sullivan. Sullivan expressed that in his sentiment, functionalism was the riddance of decorations so the edifice could show its functionality and this functionality would order the signifier of the edifice. Besides that, Modernism architecture promoted simpleness in design or as the expression goes, â€Å"Less is more† . This phrase was coined by the German-american designer Ludwig Mies van der Rohe. As we can infer from the stating, modern architecture typically enjoys clutter-free designs and is missing of unneeded elements. Parameters of the design are determined early in the design stage and merely needed characteristics are included into the edifice. This causes the focal point to switch from the decor or inside informations of the edifice to the infinite itself. Buildings, particularly places, will be clean, functional, and simple. The following feature we notice when analyzing modernism architecture that instead than hiding the nature of their edifices, modernists prefer to expose the interior workings and the true nature of their designs. Alternatively of painting or covering up, the stuffs of the edifice is exposed and bare. Nothing is hidden or modified. This includes structural elements like columns and beams are shown. This gives birth to the impression of â€Å"Truth† in a place where all stuffs and elements are exposed. On that topic, Modernists besides prefer adult male made stuffs. For illustration, concrete, steel, and glass. Another thing that can be said about modernism is that interior decorators that pattern modernism love lines. This can be seen rather obviously in modern designs where one can easy happen strong, bold, additive elements every bit good as perpendicular and horizontal characteristics. When planing as infinite, modern designers will to the full use the columns, beams, Windowss, floors and etc. to farther heighten the creative activity of a additive infinite. It is rare to see curving, organic lines in modernism though non impossible. . Besides, as a mark of rejection of historic precedency, it is highly rare to see a modern house with a triangular or pitched roof. Modern designers prefer to force the envelope with horizontal, bold, level roofs. For illustration, edifices can hold multiple roof degrees at different highs. This provides the edifice with a alone silhouette and adds complexity/sophistication to the design. An mixture of lines, domed ceilings, overhangs and unusual additive elements are all arms in a modern architect’s armory to make a more alone statement. This leads to the rule that the edifice is more than merely a construction but an artistic and sculptural statement. â€Å"Architecture is frozen music† –Johann Wolfgang von Goethe. In add-on to the points above, another characteristic that we have in modernism architecture is the presence of an copiousness of natural visible radiation from Windowss. Modern places frequently feature floor to ceiling Windowss, window walls and skiding doors. Occasionally, clearstory Windowss are besides seen in modernist design. These are Windowss that are located high in the walls to let visible radiation to come in while continuing privateness Next, attending should be paid to the agreement of the interior walls of modernism edifices. Modern designers are post-and-beam designers. They prefer utilizing indirect division of infinites like sunken or raised countries as opposed to walls. Even in the state of affairs where walls are built, they are likely to be non-loading walls and function to merely split the infinites. Either that or they will be â€Å"pony† walls. These are walls that don’t make the ceiling therefore leting the suites to portion airing and visible radiation. Because of this, modern edifices tend to hold more unfastened programs when compared to programs from other manners. The concluding features that we shall analyze is the revamping of out-of-door infinites by modernists. Modernism blurs the boundary between interior and exterior infinites with big Windowss. Besides that, multiple suites can open onto a terrace or an atrium to widen square footage. Besides, modernists attempt to integrate the topography of the land into their designs ( Internet Explorer. Fallingwater ) . This is similar to Frank Lloyd Wright’s belief that a edifice should be â€Å"one with the land† and non merely applied on top of it.Celebrated designers in modernismIn this portion, we shall present a few of the more celebrated designers of the modernism manner and some of their plants.Frank lloyd WrightName: Frank Lloyd Wright Born: 08-06-1867 Location: Wisconsin, USA Education: University of Wisconsin-Madison, 1886 Frank Lloyd Wright ( bornFrank Lincoln Wright, June 8, 1867 – April 9, 1959 ) was an American designer, interior interior decorator, author, and pedagogue, who designed more than 1,000 constructions and completed 532. Wright believed in planing constructions that were in harmoniousness with humanity and its environment, a doctrine he calledorganic architecture. This doctrine was best exemplified by Fallingwater ( 1935 ) , which has been called â€Å" the best all-time work of American architecture † Selected Plants: Fallingwater, Pennsylvania, 1935 FallingwaterorKaufmann Residenceis a house designed by architectFrank Lloyd Wrightin 1935 in ruralsouthwestern Pennsylvania, 43 stat mis ( 69km ) sou'-east ofPittsburgh, Pennsylvania, United States. The place was built partially over a waterfall onBear Runin the Mill Run subdivision ofStewart Township, Fayette County, Pennsylvania, in theLaurel Highlandsof theAllegheny Mountains.paradoxical sleep koolhaasName: Remment Lucas â€Å"Rem† Koolhaas Born: 17-11-1944 Location: Rotterdam, Netherlands Education: Architecture Association London, 1972 Rem Koolhaas is a Dutch designer, architectural theoretician, urbanist and professor. Selected Plants: Netherlands Dance Theater, the Hague, 1988 The Netherlands dance Theater was completed in 1987 and was originally conceived in 1980. It is a Dutch Contemporary Dance Company. Nexus Housing, Fukuoka Japan, 1991 This undertaking is a sum of 24 houses in the kasha District of Fukuoka, each three narratives high. Each house has a private perpendicular courtyard that allow visible radiation and extra infinite.Im PeiName: Ieoh Ming Pei Born: 26-04-1917 Location: Canton, China Education: B. Arch. Massachusetts Institute of Technology ( MIT ) , 1940 M. Arch. Harvard Grad School of Design, 1946 I.M. Pei is known for utilizing big, abstract signifiers and crisp, geometric designs. His glass-clad constructions seem to spring from the high tech modernist motion. Pei is popularly known for planing theRock and Roll Hall of Famein Ohio. However, Pei is more concerned with map than theory. His plants frequently incorporate traditional Chinese symbols and edifice traditions. Selected Plants: The Herbert F. Johnson Museum of Art, Ithaca, New York, 1973 TheHerbert F. Johnson Museum of Art ( â€Å" The Johnson Museum † ) is anart museumlocated on the northwest corner of theArts Quad on the chief campus ofCornell University. The Johnson Museum has one of the finest aggregations of art in New York State and is recognized as one of the most of import university museums in the state. Dallas City Hall, Texas, 1977 Dallas City Hallis the place of Dallas municipal authorities, located at 1500 Marilla in theGovernment Districtofdowntown Dallas, Texas ( USA ) . The current edifice, the metropolis ‘s 5th metropolis hall, was completed in 1978 and replaced theDallas Municipal Building.mies van der roheName: Ludwig Mies van der Rohe Born: 27-03-1886 Location: Aachen, Germany Education: Worked in the office of Bruno Paul ( Berlin ) Worked 4 old ages in the studio of Peter Behrens Believing thatless is more, Mies van der Rohe designed rational, minimalist skyscrapers that set the criterion for modernist design. Selected Plants: Farnsworth House, Plano, Illinois, 1950 It is a one-room weekend retreat in a once-rural scene, located 55 stat mis ( 89km ) sou'-west ofChicago ‘s business district on a 60-acre ( 24ha ) estate site, bordering the Fox River, South of the metropolis ofPlano, Illinois.decisionBased on the points, presented in the study above, we can pull our ain decisions on the pros and cons of Modernists architecture and how it has affected history. The Modernism Architecture manner has risen and fallen but hasn’t wholly left our society. Even till this twenty-four hours, we can still see the influence of the modernist design on our modern-day architecture. To wrap up this study, we leave you with a quotation mark from William Morris to sum up what we have learned from Modernism. â€Å"Have nil in your house that you know non to be utile or believe to be beautiful.† Thank you.