Analysis Of The Poem Mont Blanc - 912 Words

Percy Shelley opens his poem, â€Å"Mont Blanc† by noting how imperative the human mind is in regard to nature. The first few lines establish a relation that is essential to all life. With these lines alone, Shelley is pulling from many of the inclinations made by William Wordsworth in his poem, â€Å"Tintern Abbey†. There is however an expansion made on Wordsworth’s affections toward nature and its aweing power; while Shelley agrees that there is only a small amount of those who can truly grasp the full intention of what the natural world teaches, he largely finds nature in defiance with man’s own predilections and perceptions regarding its behavior and influence. â€Å"Mont Blanc† seeks out nature’s sublime instead of its lovely and simplistic benevolence. In some ways, â€Å"Mont Blanc† is a deeper examination and deconstruction of what â€Å"Tintern Abbey† constructs as a beautiful but surface level and thus shallow percepti on of what nature is capable of at its most powerful, and then asks how that influences the creative human mind. Both poems assert in their own ways that we are indelibly at the mercy of learning from nature and bending to its influence. Our five senses allow us to experience it, but more than that we also receive emotional stimulation as well. â€Å"Tintern Abbey† achieves an essence of the sublime by memory sustained and perfected through the combined power of the human mind (especially one of poetic fancy) and nature’s beautiful force—something of meditation. WordsworthShow MoreRelatedShelleys Mont Blanc: What Is the Mountain Outside of the Mind?1021 Words   |  5 PagesPercy Shelley encountered in Nature a phenomenon which for him recreated the clear, cognizant thinking unlocked only in dreams. His excursion to the valley of Charmonix in the south of France resulted in the awe inspiring sight of Mont Blanc actively challenging his knowledge of the limits of the human mind, allowing a murky idealism inspired by the philosopher David Hume to come to the forefront of his writing. He questioned outright whether the mountain, or at least his interpretation ofRead MoreCreativity in Advertising15483 Words   |  62 Pagesadvertising campaign. In this case, a joint meeting of executives of the company and advertising agency is arranged to review the present marketing position of the company, with reference to: * The product. * The Consumers. * The Market Analysis. * The Competitive situation. In addition, special marketing problems faced by the company will be reviewed. This type of joint study prepares faced background for planning advertising campaign which is likely to give promising results. Detailed

Prison Overcrowding Should Not Be Resolved By One Solution

Many states are under a court order to reduce prison overcrowding. However, many states have yet to come up with an effective strategy to eliminate prison overcrowding. As a result, many authors have tried to come up with concepts and plans to deal with this problem but every author has a different idea and every idea has a different outcome. Some ideas are beneficial short term and some are beneficial long term but each has many disadvantages. I think the best way and most effective way to eliminate prison overcrowding is a combination of methods that each author presents. Obviously an issue so complex like prison overcrowding cannot be resolved by one solution. We have to take in consideration that ever prisoner is different, every prison/jail is different and every state has different policies on releasing prisoners back into the community. We have to solve prison overcrowding in steps. It all starts before imprisonment, during imprisonment and what to do after imprisonment. These steps however, are steps that stresses on specific areas. To help eliminate overcrowding of prison all starts with the â€Å"before imprisonment† step. This step wants to deter people from going to jail and what we can do to help that. This steps ensures that policies are fair, possibilities of imprisonment are reduced and if not that the sentencing is reasonable, improving the efficiency of the criminal justice system and have more of a Due process model rather that Crime control model. The secondShow MoreRelatedArgumentative Essay on Americas Problem of Prisons897 Words   |  4 PagesAmerica has a major problem with overcrowding in its prisons, and action needs to be taken. Since 1970, the inmate population in the United States has increased over 700%, far greater than the general population as a whole. This has led to declining quality of life within the prison system including 8th Amendment violations and it represents a needless drain on state finances. There is simp ly no value in keeping non-violent convicts in the prison system, sometimes for years. The costs are high, andRead MoreThe Death Of A Brooklyn Shelter For Domestic Violence1504 Words   |  7 Pagesspent two weeks in prison which effectively destroyed the new life she was trying to create. Only after her lawyers moved the case to a more sympathetic judge, was she released. The fight was not over just yet. Her case was still not resolved, her spot at the shelter was gone, and she no longer had custody of her child. All for a bag of diapers. Thousands of cases just like Adriana’s are in the works every day in the United States. There are serious problems facing the American prison system that haveRead MoreThe Death Penalty And Capital Punishment1223 Words   |  5 Pagesdeath penalty outweighing the negative counterparts. Provided that one of the main arguments that supporters of the death penalty make is that it would decrease the inmate populations. In light of, this would help the criminal inmate overcrowding problem that the country currently faces. An article that supports the death penalty provides the statistics that â€Å"over the course of a year, 13.5 million people spend time in jail or prison, and 95% of them eventually return to our communities† (9Gleissner)Read MoreCritical Issues in the American Criminal Justice System - Sentencing Decisions and the Death Penalty4477 Words   |  18 PagesAllen Lowery CJ 6624 – Court Administration December 1, 2010 Abstract This paper discusses three critical issues in the criminal justice system. It touches on the general issues of punishment philosophies, sentence decision making, and prison overcrowding and focused more specifically on the negative effects of each. Highlighted in this informational paper is the interrelated nature of the issues; each issue affects and is affected by the others. Data and information has been gathered from theRead MoreCapital Punishment Is An Irreversible Process1959 Words   |  8 Pagesperson is sent to prison to await the execution day. During the waiting period, the defendant has several chances to appeal his or her case to higher courts and request for clemency. Since the stakes are life or death, there has to be no room for error because the death penalty is an irreversible process. Capital punishment is a very controversial topic, and anti-death penalty organizations want it abolished. However, supporters of capital punishment say that the United States should have less lifeRead MoreSolitary Confinement : A New Idea Of Punishment And Maintaining Order1708 Words   |  7 Pagesrevolving door phenomenon. Although solitary confinement provides the staff and general prison population with safety, there are alternatives that can be used rather than continuing the revolving door with the cruelty, expensiveness, and ineffectiveness of solitary. Solitary confinement is by no means a new concept; it has been used throughout history as a way of punishment and maintaining order. For example, it was one of many punishments used in China during the Han Dynasty. It was also used in ancientRead More Three Strikes Law Essay1740 Words   |  7 Pages(1999), â€Å"23 states and the federal government adopted some form of â€Å"three strikes and you’re out† law intending to target repeat violent offenders (p.1). The law varies among states, but the intent is to â€Å"reduce judicial discretion by mandating severe prison sentences for third (and in some instances first and second) felony convictions† (Dickey and Hollenhorst, 1999). To formulate the law, it was decided that the most valuable approach to reduce violent crimes was through a mandated policy decisionRead MoreThe Changing of the Guard: A Progressive Study of the Privatization of Prisons3439 Words   |  14 PagesThe Changing of the Guard: A Progressi ve Study of the Privatization of Prisons Abstract Privatization of prisons is not exactly a novel concept. The Federal Government has been contracting out such things as the building of new prisons, the operating of prisons, and providing goods and services to prisons since 2003. Some of the companies that the government trusts to do all of this are Corrections Corporation of America, and The GEO Service Group, formerly known as Wackenhut. Although the governmentRead MoreJuvenile Justice in the Philippines3079 Words   |  13 Pagesbiggest jails in the Philippines, such as in the Muntinlupa jail outside Manila, so that after their release they went back in the street with more knowledge of crime. This severely hampered the social integration of the youth offenders after they left prison. Chances were high that these young offenders would become chronic delinquents and eventually hardened criminals.    Presidential Degree no. 603 otherwise known as the Child and Youth Welfare Code was signed into law on December 10, 1974 and becameRead MoreAnnotated Bibliography On Electronic Monitoring3464 Words   |  14 Pagesincrease the jail and prison population in the U.S. There was also a significant increase in caseloads of probation which inevitably shifted community supervision from rehabilitation to surveillance and enforcement. Needless to say the system was in a crisis and needed help. The range of innovations that appeared in that era transformed almost every aspect of contemporary life, including criminal justice. Improvements in electronic technology and the pressures of jail and prison crowding made the idea

Coffee and Starbucks Free Essays

What was Howard Schultz’s original strategic vision for Starbucks? Is his 2010 strategic vision for Starbucks. Has Starbuck’s strategy evolved as the strategic vision has evolved? Howard Schultz’s first strategic vision for Starbucks was the fortunate result of a company trip to Milan, Italy to attend an international housewares show. On this trip, he visited various espresso bars and was able to recognize how the customers in these bars were usually enjoying the ambiance and atmosphere of the bar with a freshly-brewed espresso, latte, or another delectable coffee treat, in hand, that was sold from the bar. We will write a custom essay sample on Coffee and Starbucks or any similar topic only for you Order Now Howard felt Starbucks should align their initial business model with that of the numerous espresso bars he visited while in Malian-through transforming Starbucks from an exclusive retailer of its coffee products, to providing and serving their coffee products in-house to their consumers with an expanded product line (lattes, espresso’s, etc. ) in tow. In addition to the espresso bar vision for Starbucks, during his interview process with Starbucks, Howard expressed to the three original owners of Starbucks that he felt Starbucks has the potential to successfully expand beyond the metropolitan area of Seattle, a vision not seen nor shared by the owners at the time. As assumed, the current vision set in place for Starbucks has changed since the original one was envisioned in the spring of 1983. The current strategy for Starbucks no longer concerns adding simply a new service within their stores but revolves around increasing their sustainability, increasing corporate responsibility, being the undisputed coffee leader in the worldwide marketplace, expanding their global presence, and creating innovative growth platforms, just to name a few of the more recent visions for Starbucks. As with any great leader who sets in place a vision for their company, Howard Schultz’s vision for Starbucks is truly dynamic, and will be manipulated whenever conditions in the marketplace (i. e. economic, consumer demands, business opportunities etc. ) dictate the vision to be altered for the success and better of the company. 5. What â€Å"values† does Starbucks have? How well do they connect to the strategy and to the manner in which the company conducts its business? On their supplier-side, too many businesses today are focused on procuring the lowest priced goods for increasing their profit margins. Starbucks would rather ensure their coffee growers are being compensated fairly and well enough to support their families in their trade. Starbucks also assists their suppliers (â€Å"coffee-growers) in being able to grow high quality coffee beans, and ensure their coffee growers are consistently meeting the company’s stringent environmental responsibility. What drives Starbucks to do that? Starbucks possesses a number of values (beliefs) that demand fair-compensation for their coffee-growers (either through Starbucks directly or through an intermediate), a belief that all their consumers should have their demands met (through Starbucks â€Å"Just Say Yes† policy†), and trait of managing their growth (as opposed to an almost unmanaged and aggressive growth strategy executed under Starbuck’s former CEO, Jim Donald). The aforementioned values for their coffee-growers complements Starbucks current corporate and social responsibilities as a whole for ensuring the livelihood of their suppliers (the coffee-growers). In addition, with the current push by Starbucks to increase their number of LEED stores in the United States, their vision of becoming more sustainable and environmentally conscious is being realized with each and every LEED-certified store opening. In terms of the manner Starbucks practices their business, their business practices and visions do not fall in line with the more common United States business practices and visions currently seen in the marketplace (such as the push to become the â€Å"Low Cost Provider† for consumers). As demonstrated and stated, Starbucks practices their business differently than most global businesses do, through ensuring supplier financial sustainability (for their coffee-growers) coupled with unrivaled purchasing standards for their coffee beans, to also ensuring customer satisfaction remains high by consistently adding new features and benefits for their consumers to benefit from and increase their value derived from being a consumer with Starbucks. Recent benefits Starbucks has given to their customers are as follows: -Free Wi-Fi usage in all their United States location. Discounts on coffee products for providing your own coffee cup to the barista (thus being more mutually environmental conscious and responsible) . – Providing various â€Å"paid† websites to their customers free of charge on Starbucks Wi-Fi network; such as access to WSJ. com, the website for the Wall Street Journal, and also other exclusive content Starbucks Chairman Howard Shultz talks to the †¦ Starbucks Chairman Howard Shultz talks to the media at the Vancouver Waterfront Station location, celebrating 20 years of Starbucks in British Columbia. (Photo credit: Wikipedia) 7. What is your assessment of Starbucks? I feel Starbucks possesses a great moral compass in the field of business and excels at creating and executing strategic plans for their business that are dynamic, relevant, and complements their core values–thus I would rate Starbucks highly in my assessment. Starbucks, as mentioned before, is one of the few companies to ensure their suppliers (â€Å"coffee-growers) are receiving fair compensation. Furthermore, Starbucks has effectively taken on various corporate and environmental responsibilities at once through striving vigorously to purchase only ethically sourced coffee beans by 2015 for their coffee beans supply, and investing $20 million towards farmer loan commitments that will ultimately promote coffee grower’s crop yield, quality, and environmental standards, thus a mutual benefit to be had by both parties. In terms of a financial assessment, from 2009 Fiscal Year’s net profit of $390. 8 million to the $1,383. 80 net income earned in Fiscal Year 2012 (growth of over 350%!). It is safe to say, Starbucks financial strategy of increasing bottom line production through increasing the value of their products and services offered and sustained to their customers worked out perfectly for them. Starbucks has also decreased their debt to asset ratio by 11% from Fiscal Year ending 2010 to 2012 (. 424 to . 378 respectively). Clearly, a focus to clean one’s balance sheet with less debt and more activity is a strategy many businesses share in wishing they could accomplish but few truly accomplish it; with ease, Starbucks was able to do so effectively and considerably. All and all, as stated within this assessment and numerous times within this blog, Starbucks is a company to be hailed for due to their passion and determination to become even more sustainable with each passing day, being excellent corporate citizens, setting in place various plans that will extensively benefit their stakeholders in a sustainable manner, and promoting their financial and environmental position through creating a coffee â€Å"utopia† for the world to benefit from. How to cite Coffee and Starbucks, Papers Coffee and Starbucks Free Essays 1 A. What is Starbucks’ â€Å"product† †¢Starbucks’ product is a casual experience in a comfortable atmosphere where the customer can enjoy a premium cup of coffee and a newspaper or relaxing conversation with friends. B. We will write a custom essay sample on Coffee and Starbucks or any similar topic only for you Order Now What is their â€Å"core product† and what are the â€Å"auxiliary features† and benefits? †¢The core product is a premium cup of coffee. The auxiliary features include the well-educated baristas that can help select the right cup of coffee and help customers learn how to reproduce the experience at home or the office with fresh coffee bean or grounds they can purchase in store. Along with the coffees available there are also Tazo teas, hand crafted espresso and blended drinks a little something for every taste. To go with the drink of your choice you can also enjoy a fresh pastry or a sandwich while listening to music or utilizing the free Wi-Fi to complete the experience. C. What is their â€Å"unique selling proposition† and how do consumers view it now? †¢Starbucks’ unique selling position was offering a high quality coffee for a premium price, while providing a place to relax other than work, home or going to the bar. With their comfortable seating areas and internet access they branded themselves as your â€Å"third place†. Customers bought into it but now that they have started to get more streamlined their stock is falling because they are losing a little bit of that selling position. As the stores get a little less comfortable and become a little more like an assembly line, customers are starting to see it more like a commodity rather than something special. 2. A. Are McDonald’s and Starbucks direct competitors? Yes. While they don’t offer the same quality of food or coffee, McDonalds has put a lot of emphasis on the quality of their coffee and have been able to increase their sales and profits. With the introduction of their McCafe line of coffee drinks McDonalds is looking to take a share of the market from Starbucks. B. What advantages does McDonald’s have in competing with Starbucks for coffee sales? †¢McDonald’s coffee has a very good reputation as a good cup of coffee. While it is not on par with the gourmet coffee and specialties that Starbucks has to offer it is a much cheaper alternative and with the large selection of menu items it can market to a much broader base of customers. For example parents with small children will be drawn to McDonald’s for their coffee because of what they can offer the children that Starbucks can’t. Another advantage is the speed at which McDonald’s can serve customers. Since the coffee and food they serve is less customized they are able to get people in and out at a much faster pace even with the implementation of the drive thru at Starbucks. . A. What changes in society (at the time of the case) helped Starbucks to be successful? †¢There was a steady increase in the number of coffee drinkers in the US in the mid-90s. That combined with the trend of consumers to drink more and more coffee out of the home has increased sales in the entire market. While a large increase of this coffee consum ption was among those that drink coffee at work, the benefit to Starbucks is that they are getting the coffee from somewhere other than the workplace. Along with the increase in consumption consumers have trended to being more and more environmentally conscious. So the focuses on environmentally friendly ways of doing business have helped to keep them in favor with the customers. B. How are these changes related to their target market? †¢Coffee drinkers ranging from 25-29 increased their out of home coffee consumption from 42% to 66% while in the same year 30-59 years old increased from 33 to 46%. 4. A. What are the â€Å"strategic marketing factors† that help to account for Starbucks’ long-term success in developing brand equity? The environment that they offered was one of the big factors that lead to their ongoing success. While there are more and more cafe styled coffee houses coming into the market at this time the idea was very unique and helped to differentiate them in the market. The high quality product and unique sizing of their products also set them apart. Rather than using the standard small med and large names they used unique identifies that helped make their products stand out in memory. Before they came around your options for coffee outside the home were very limited and the ability to get such high quality even at a premium price was a welcome feature in the market place. For the longest time they were really the only player in the space and that niche afforded them very rapid growth and early successes that help fuel even more growth as they expanded worldwide. 5. A. What are the advantages of the Starbucks Card to the company? †¢The most obvious advantage of the card to Starbucks is the guaranteed income. Once people load money on the card it can only be spent at a Starbucks location. It also makes tracking customer purchasing habits and preferences readily available. Then there is the case of the forgotten or lost cards that never get used that equate to pure profit. One last advantage is that with the card they have also created a secondary market for sales by placing the cards in stores like Giant Eagle where people that wouldn’t come into the stores can buy the cards as a gift. B. What are the advantages of the Starbucks Card to the customers? The consumer can control their spending with the card. By loading the card with the amount they allocate for coffee they can track their spending more effectively than before when just purchasing with cash or a random card. While there is no discount associated with the card it does give the consumer some protection when they register the card online. If the card is ever lost or stolen they can report it and a new card will be issued with the same balance and the existing card voided. 6. A. Evaluate Chairman Schultz’ global strategy. Is it â€Å"good† or â€Å"bad? † †¢The global strategy is â€Å"good†. You can build a lot of customer loyalty by taking care of your employees. If your employees are happy and well trained they will provide a much better experience for the customer. Starbucks mission and direction has a solid base in the customer experience as much as the quality of the coffee. So making sure the employees are trained well and very knowledgeable about all things coffee enables them to take the experience past just when the customer is in the store. Educating the customer on how to get the best cup of coffee at home as well will provide you a regular customer for not only their coffee at the office but also the grounds for home. †¢In addition the image they are able to betray as a company that cares about the community and the environment will help build customer loyalty. The fact that they not only work to be environmentally conscious themselves but also work with partners and suppliers to share the information and work together to buy, sell and use environmentally friendly products. B. What recommendations do you have to improve Starbucks’ competitive position domestically? †¢Starbucks needs to stick to what got them here in the first place. Don’t try to become another fast food establishment. Customers that are coming to one of their stores will respect the time it takes to get a high quality cup of coffee. Take that time to cross sell the customer on coffee beans and other goods for the home. While offering food to the customer is a natural evolution for Starbucks it is important that they put as much time and effort into providing high quality food as they do coffee. If they keep the high quality of coffee but serve a lesser food the lesser image will be what is remembered. On the same lines make sure that if you are going to provide places for the customer to sit and enjoy their coffee stick with the comfortable seating that invites the customer to relax and stay awhile. You will not only bring them back time and time again you will encourage them to spend more time in the store every time they visit and therefore increase the opportunities to sell more products. How to cite Coffee and Starbucks, Papers

Contemporary Issues in Accounting Dicksmith Holding Ltd

Question: Describe about the Contemporary Issues in Accounting for Dicksmith Holding Ltd. Answer: Introduction For the purpose of this assignment, the annual reports of Dicksmith Holding Ltd and BHP Billiton Ltd have been opted. A brief comparison of both the companies will be done through this assignment in order to know whether material disclosure (whether financial or non-financial) have been done by both the companies because such disclosures are very significant for users of financial statements to make economic decisions considering the financial position and performance of the companies. Moreover, it is clearly observable through their annual reports of 2015 that both the companies have complied with statutory requirements as per the AASB conceptual framework. According to Everingham (2007) it has to be noted that due to a significant increase in the number of transactions, disclosure of irrelevant information has been deemed secondary for companies because these do not facilitate in decision-making. Considering the amount of transactions, companies have only disclosed that information which is relevant and reliable to users of their financial statements. Compliance with Conceptual Framework for reporting The annual report of Dicksmith Holding Ltd and BHP Billiton Ltd has been selected for the purpose of compliance with AASB requirements and conceptual framework. According to the disclosure standards required by the Australian Corporate Sector, every company is bound to comply with the qualitative characteristics of conceptual framework for reporting (IASB, 2010). Dicksmith Holding Ltd and BHP Billiton Ltd, being an ASX company also complies with such characteristics as observable through its annual report, 2015As per (Conceptual Framework (2016) these characteristics mainly include fair representation, relevance and materiality and the companies have successfully complied with these characteristics as per the conceptual framework of reporting. (Source: Dicksmith Holding Annual report, 2015) With respect to the corporate governance practices of the company, Dicksmith has committed to achieve highest corporate governance standards by conducting business according to the ASX recommendations outlined in the third edition of ASX Corporate Governance Principles and Recommendations. BHP Billiton has furnished reports not only in accordance with the Principles and Recommendations issued by ASX but also with the UK Corporate Governance Code that also includes the Turnbull Guidance stated in the annual report of BHP Billiton (2015). Furthermore, Dicksmith provides material information regarding the disclosure of information of material directorships that are currently held by it, and if the candidate is re-elected, then will he be regarded as an independent director or not and also a statement whether the Board of the company supports such re-election. Dicksmith has also provided material information regarding the disclosure of material risks as it is prone to many risks like mal feasance and fraud, safety and health of workplace, macro-economic risks including effects on consumer discretionary spending, cash management risks, reputational risks, competition policy risks etc. Hence, materiality characteristics with respect to conceptual framework have been followed by Dicksmith. Similarly, BHP Billiton also considers risk tolerance and materiality as prime considerations for decision making. It has disclosed material information regarding investments in low-emission technologies in order to minimize emissions from fossil fuels. Furthermore, in respect of material risks, BHP discloses competition policy risks, deflation of prices risk, sustainability risks, arrangement of leasing risks, water-related material risks etc. In respect of relevance, Dicksmith provides several relevant details that have higher predictive value. For example, it provides relevant information regarding product efficiency levels under which minimum energy performance standards are necessitated for retailers so that the products that are sold in New Zealand and Australia have efficiency labels. Furthermore, it also provides relevant information regarding the compliance of amended and new accounting interpretations and standards in accordance with the AASB requirements. Relevant information to facilitate election and re-election of directors are also provided by Dicksmith to assist in decision-making (Dicksmith Holding, 2015). Considering the case of BHP Billiton, it has also provided significant information as per the AASB standards and conceptual framework of financial reporting (Conceptual Framework, 2016). It discloses relevant details about its KPI (key performance indicators) that helps to evaluate the financial performan ce and sustainable development of the company. It also discloses relevant information on the HSEC (Health, Safety, Environment and Community) trends like the evaluation of performance, alignment with requirements of other companies etc. Relevant information on climate change, variations in standards of corporate governance, commodity markets etc are also disclosed by BHP Billiton and stated in the annual report of BHP Billiton (2015). Hence, both the companies have also complied with the relevance characteristic of conceptual framework. (Source: BHP Billiton Annual report, 2015) Furthermore, both the companies have also portrayed a true and fair representation of their financial statements in their annual reports. From the annual report of Dicksmith, it can be seen that the CEO and Managing Director, CFO and Finance Director of the company have certified the truthfulness of the report. Provided in the annual report of Dicksmith Holding (2015) a written declaration has been given by the Board to these directors which states that the annual report has been formed on a sound basis method of internal control and risk management which is functioning efficiently, thereby giving a true and fair view of the financial statements. In note 2 of the financial statements of the company, directors have also stated that the consolidated financial statements have been prepared on the basis of AASB 101 (Presentation of financial statements) and also comply with IFRS. Similarly, the directors of BHP Billiton have stated in their declaration that the financial statements are t rue to the best of their knowledge. Notes set out in section 7.1 and 7.2 of the financial statements also prove that the annual report is in accordance with the Australian Corporations Act 2001 and UK Companies Act 2006. Therefore, both companies also comply with the faithful representation characteristic of conceptual framework. Compliance with AASB Standard Requirements In relation to Dicksmith, firstly it has followed the AASB 101 standard which states that the financial statements of the company are in compliance with the IFRS requirements. Secondly, the assets and liabilities related with employee benefits together with deferred assets and liabilities of the company are in accordance with AASB 119 Employee Benefits and AASB 112 Income Taxes respectively. Thirdly, assets held for sale are in accordance with AASB 5 Non-current assets held for sale and discontinued operations. Lastly, as per IASB (2010).the contingent assets and liabilities of the company are in accordance with AASB 137 Provisions, Contingent Liabilities and Contingent Assets. In relation to BHP Billiton, it has also followed the AASB 5 Non-current assets held for sale and discontinued operations after the demerger of South32. It also follows the AASB 116 Property, Plant and Equipment (PPE). Fixed assets of the company are recorded at historical cost less depreciation and current assets are recorded at minimum of net realizable cost or value. It is observable through the companys balance sheet that fixed assets are investigated and carrying values are disclosed. After investigation, these fixed costs are recorded at cost less provision for impairment. Stated in the annual report of BHP Billiton (2015) the impairment charges as evident from the annual report are US$2.8billion on Onshore US assets, US$409million on Nickel West assets and US$542million on goodwill and other intangible assets. It can be seen that the valuation of fixed assets of this company complies with the AASB standards. (Source: BHP Billiton Annual report, 2015) Hence, both Dicksmith Holding Ltd and BHP Billiton have complied with the conceptual framework and AASB requirements. Inclusion of Prudence to remove disparities in corporate reporting Under the prudence concept, amounts of income identified must not be overestimated and amount of expenses must not be underestimated. In other words, companies must not recognize an asset at a higher value than the amount which can be recovered from its sale or use. Similarly, liabilities must not be recognized at a lower value than the amount at which they are expected to be paid in future. As per A tale of Prudence (2015) management must be cautious and conservative in recording the assets while not underestimating the liabilities. The outcome of this surely must be conservatively stated financial statements. The International Accounting Standards Board recognized the importance of prudence in the year 2010 but as it conflicted with the concepts of neutrality, it had to be removed. In the year 2015, IASB further reinstated the prudence concept through an Exposure Draft in the conceptual framework for financial reporting. As per Melville (2013) another method of looking at the prude nce concept is to record an income or asset transaction only when it is certain and record a liability or an expense transaction when it is probable in nature. With the support of this amendment in the conceptual framework (2016), companies will have to remain cautious in the events of uncertainties and risks. It can be concluded that this concept helps in removing predilections from the financial statements from the annual reports of Dicksmith and BHP Billiton, it can be observed that both companies have adopted the concept of prudence in their annual reports. (Source: Dicksmith Holding Annual report, 2015) In relation to Dicksmith, the identification of the companys profits proves the inclusion of prudence concept when these depict risks and uncertainties about future outcomes. Furthermore, the assets which are held for sale are recorded in accordance with AASB 5 Non-current assets held for sale and discontinued operations instead of being identified as fair values. This is the concept of prudence where assets held for sale are not written up and instead written down to their recoverable values. Similarly, in relation to BHP Billiton, the impairment events which results in the write-down of an assets carrying amount is subject to the concept of prudence as this overcomes the normal distribution of a non-current assets cost above its efficient life. As per Brigham Daves (2012) IASB has redressed the limitations that impacted the relevance of prudence but sadly, many companies find the applicability of prudence in accounting very difficult and hence more standardization is required. Critical evaluation Both Dicksmith and BHP Billiton have successfully complied with the conceptual framework of accounting and AASB requirements in their annual reports. In relation to corporate governance, Dicksmith follows only ASX Corporate Governance Principles and Recommendations while BHP follows both UK Corporate Governance Code and ASX Recommendations. On one hand, the majority of underlying earnings of Dicksmith originate from consumer electronic items while BHP mainly earns from Onshore US Assets including Petroleum, coal, copper and iron-ore. Both the companies have adopted a whistle-blowing policy on violations of code of conduct (Dicksmith Holding, 2015). Dicksmith has more advantage than BHP in case of corporate governance of the company because it has outlined several principles that must be followed by every person associated with the company. It not only ensures integrity and morality but also transparency in the annual reports. BHP mainly aims for a high corporate governance standard f or enhancement of long-term value, that is short-term value is not given due importance. But due to this purpose, BHP benefits in the long-run as its policies and corporate governance standards have high flexibility for enhancing long-term value (Needles Powers, 2013). (Source: BHP Billiton Annual report, 2015) The disclosure policy of Dicksmith is observed under the Corporations Act 2001 and Listing Rules. It must disclose any such information to the Australian Stock Exchanges that can have a material impact on its price value of shares. As per Dicksmith Holding (2015) a continuous Disclosure Policy has been established by the company which aims to ensure that every investor has equal and timely availability of relevant information relating to the company. Directors are bound to comply with this policy that includes delegation of responsibilities. If any officer or employee of the company becomes known to any material information that can be price-sensitive, he is bound to report of such happening to the disclosure officer (Company Secretary) of the company. Important announcements relating to the company is first made public on its website before complying with continuous disclosure policies. In relation to the disclosure of BHP Billiton, it can be observed that for the purposes of IFRS, it has disclosed its demerged assets which are treated as discontinued operations of the company. It also discloses information relating to its operations in hydraulic fracturing done on federal lands. Chemicals and water used for such operations are also disclosed and laid down in the annual report of BHP Billiton (2015). As the company is committed towards open and transparent communications with public, government and investors, it discloses relevant information towards the CDP (Carbon Disclosure Project) which is a measure of activities that any company has undertaken for management of carbon. According to Kalpan (2011) disclosure of such information has resulted in an enhancement of the CDP score of the company since 2013. In relation to the market risks, company has disclosed quantitative and qualitative information and the primary market risks can be found in section 1.15.1 of the annual report while outstanding sensitive instruments (market risk) is consisted in note 23 of the financial statements. (Source: BHP Billiton Annual report, 2015) As per Carmichael Graham (2012) in relation to royalty and tax liabilities, company has disclosed various provisions regarding such tax liabilities and contingent liabilities that include estimates of transfer pricing and other issues where uncertainty is present during the application of law. A disclosure committee is also appointed by the company that purposes to see whether the company has complied with disclosure requirements and other security dealings or not. In relation to political donations, contribution to public debate of policy matters that can impact the operation of the company is disclosed through AEC (Australian Electoral Commission) purposes, in the Directors report. According to the UK requirements in the remuneration report, BHP is also bound to disclose relevant information regarding the Directors. AASB, IFRS and Australian Corporations Act 2001 also bound the company to disclose information relating with the Key Managerial Personnel. Information associated with the remuneration of directors including KMP, ordinary transactions and shareholdings etc are also required to be disclosed by BHP Billiton. The information disclosed by BHP Billiton and Dicksmith are clearly of material nature and must not be ignored by the companies, whether it is compulsory or not, because it facilitates in better decision-making by the users of financial statements. Recommendations After a critical evaluation of the annual reports of both Dicksmith and BHP Billiton, it can be stated that disclosures that are of relevant nature must be disclosed by the companies because users can take an effective decision on the basis of them. However, it is recommended that any information that is not relevant must be discarded by the companies as it diminishes the usefulness of valuable information. As per Gibson (2010) with days passing by, there has been a significant increase in accounting transactions and if companies do not adhere to disclosure policies, then not only users will face problems, but the company itself will. It is highly recommended that companies must not only follow the conceptual framework for accounting but the disclosure principle must also be given significant consideration because it helps in reducing risks that have originated through such complexities in transactions. Conclusion It can be concluded that conceptual framework of accounting and disclosure principles play a key role in enhancing the usefulness of information present in the financial statements. Considering the example of Dicksmith and BHP Billiton, both have complied with such frameworks and AASB requirements. They have also successfully complied with the disclosure policies as laid down in their annual reports which surely must have been very useful to every user. On a whole, it can be said that conceptual framework, accounting standard requirement and the disclosure principle are altogether an essential ingredient of a useful financial statement. Companies adhering to such ingredient enjoy a good reputation in the market and are very less prone to risks. References A tale of Prudence 2015, Investor perspectives, [online] Available at: https://www.ifrs.org/Investor-resources/Investor-perspectives 2/Documents/Prudence_Investor-Perspective_Conceptual-FW.PDF [Accessed 17 August 2016]. BHP Billiton 2015, BHP Billiton Annual Report and accounts 2015, [online] Available at: https://www.bhpbilliton.com/~/media/bhp/documents/investors/annual-reports/2015/bhpbillitonannualreport2015.pdf[Accessed 17 August 2016]. Brigham, E. Daves, P., 2012. Intermediate Financial Management. USA: Cengage Learning. Carmichael, D.R. and Graham, L., 2012. Accountants Handbook, Financial Accounting and General Topics. John Wiley Sons. Choi, R.D. and Meek, G.K., 2011. International accounting, Pearson . Conceptual Framework., 2016. Conceptual Framework Pronouncements, [online] Available at: https://www.aasb.gov.au/Pronouncements/Conceptual-framework.aspx [Accessed 17 August 2016]. Dicksmith Holding., 2015. Dicksmith Holding Annual Report and accounts 2015, [online] Available at: https://www.dicksmith.com.au/da/ [Accessed 17 August 2016]. Everingham, G.K., Kleynhans, J.E. Posthumus, L., C 2007. Principles of Generally Accepted Accounting Practice. Juta and Company Ltd. Gibson, C., 2010. Financial Reporting and Analysis: Using Financial Accounting Information. Cengage Learning. International Accounting Standards Board., 2010. Conceptual Framework for Financial Reporting, [online] Available at: https://www.aasb.gov.au/admin/file/content102/c3/Oct_2010_AP_9.3_Conceptual_Framework_Financial_Reporting_2010.pdf Kaplan, R.S., 2011. Accounting scholarship that advances professional knowledge and practice. The Accounting Review, 86(2), p. 367383. Melville, A., 2013. International Financial Reporting A Practical Guide. Pearson, Education Limited, UK Needles, B. Powers, M., 2013. Principles of Financial Accounting. Cengage Learning.

Market-Driven Job Evaluation and Job-Worth Systems Sample

Question: Discuss the similarities and differences between market-driven job evaluation and job-worth systems of job evaluation. Describe an example of each approach and provide the rationale for why it is the best approach for the situation described. Answer: Introduction Due to the evolution of the contemporary business world, companies are continuously searching for specialised ways for constructing a workforce, which actually helps them to deal with the changing economic perceptions. Edwards (2012) proposed that job creation and inflation related to various goods and services are mainly responsible for developing a climate requiring the useful involvement of a suitable human resource plan in the right place for the majority of corporations of modern day. In this particular scenario, it is constructive for the human resource managers to determine the job worth, which can be performed by conducting a job evaluation based on the current market needs (Day, 2012). It is observed that the certain implication of the process encourages the organization to achieve success along with the other potential contributions from the information documented through the extensive research. In order to achieve the organizational aims productively, the management must n eed to adopt a market-driven approach for luring the talents from the market, recruiting them to the company, and retaining them with the workforce (Kinyili, Karanja, Namusonge, 2015). However, there is a significant level of difference between the market-driven job evaluation and job worth system regardless of their mutual connection with the workforce development. Therefore, this paper is formed with the aim of developing a suitable discussion regarding the Market-driven Job Evaluation vs. Job Worth for elaborating critical understanding on what the organizations should need to exercise internally or externally. Similarities and Differences between Market-driven Job Evaluation and Job-worth System of Job Evaluation As dictated by day (2012), companies from the modern day environment are always looking for a sustainable niche, which might contribute to their survival in the respective marketplaces. By the investigation regarding the historical timeframe, it is observed that the organizations are going through an ever changing redesigning process from both internally and externally for countering the risks associated with the market settings (). With reference to the identified fact, often the organizations can be seen designing new jobs, placements, and classifications in accordance to the needs of its customers or organizational strategies. Furthermore, companies may create an entirely innovative division for just in place for addressing the new trends, technologic needs, and development requirements for the corporation. From the above understanding, it can be assumed that the job evaluation techniques are followed for brewing a more personalised product or service and offering them to the customers for enriching their buying experience (Effort, 2013). Here, Kinyi and Karanja (2015) have indicated the suggestion provided by the talent management experts Susan Cantrell and David Smith to ensure the introduction of a revolutionary new system for managing people within the organization adeptly. The particular system exerted by the experts was known as Workforce of One eliminating the generic approaches for responding to the workforce requirements while leveraging more on the development of a highly nuanced and customised system for every employee (Edwards, 2012). The result of the study reflects the formation of a new relationship between the employees and the organizations. Kinyi and Karanja (2015) has further investigated the fundamental outcomes of such process and come up with the findings that the core application of the modified approach lowers the rate of employee turnover, maximiss the productivity, and enhances profit margin across the organizations. The job-worth evaluation sufficiently contributes the the achievement of proposed goals of the identified system. On the other hand, a market-driven evaluation is principally performed by the team responsible for managing performance of the workforce (Bamberger, Biron, Meshoulam, 2014). As part of the process, a systematic methodology is organised by the team with the intention of overseeing the primary requirements for each department and unit within the corporation. Effort (2013) has indicated some unique factors regarding the roles played by the performance management team. According to the investigation of the identified literature, performance management system is responsible for creating job reports according to the evaluation standards when they notice the need of another department or position for supporting the alleviation of the assessed burden faced by the other divisions. The same process is applied for engendering resolutions for the complaints raised by the customers as well (Kerzner, 2013). Therefore, the identified scenarios give rise to the job evaluation process by setting the standard criteria, which are ultimately submitted at the annual conference held by the company. Most importantly, it is worthy enough to mention that job assessment done by following the job worth system deals with the specific worth of an employees position while determining quantity of compensations for acquiring the identified position (Ulrich, 2013). Hence, job worth is momentously important for the companies to follow for providing a justifiable position to the employees during the lines of inflation, pay rates, and cost of living. Edwards (2012) has explained that a regular supervision by the performance management department helps them to determine whether there is a need for increase within the hired position of a certain department. From the overall analysis, the fundamental similarity between Market-driven and job-worth is improving the capabilities of the organization for satisfying the differing needs of customers as well as employees. However, the major difference between the two systems is that internal equity is maintained by job-worth, where market-driven approach reflects how external environment is affecting the organizational position (Purce, 2014). Example of Each Approach and their Rationale The significant rise of job-worth is caused due to the volatility of the current business environment influenced by exchange rate fluctuations or inflation of products or services (Tyson, 2014). Different industries from the global platform may it be retail, information technology, or food and beverage sectors are all continuously devoted to achieving the prominent share of growth from their target market. According to Kerzner (2013), the growth objectives of different firms are largely dependent on considering an evaluation for determining the necessity of employee growth, pay rises, and workforce retention. The rationale behind the process is simply based on defining and developing a balance supply and demand where the prominence is provided to the implementation and development (Goetsch Davis, 2014). On the other hand, listening minutely and fulfilling the requirements of consumers should be the foremost priority of a business irrespective of its operations under a small and medium enterprise or the major corporate guidelines. Such a scenario cause the application of a market-driven approach, as the process encourages the company to use a Consumer Price Index (CPI) for scrutinizing the needs of market consumers and supporting the measurements associated with the different areas of the company (Mathis, et al., 2016). For example, the need for modifications to the specific product, service, or department can be categorised as the market-driven approaches. The overall explanation of the two different concepts can be suitably clarified through an example. In the short run, monetary policy highly influences inflation and the nation-wide demand for the product and service. The given situation raises demand for the capable employees who can deliver quality products and services to the c ustomers while drives the organization to undertake the job-worth evaluation to attract those talents and satisfy the complicated demands for promoting the financial standing of the business (Tyson, 2014). Conclusion From the rationale obtained through the typical arguments and comparisons rendered throughout the paper, it can be determined that consumers and employees are two principal factors that the company should leverage upon to ensure the smoothness in whole business functionality. Consumers determine the market-driven approach for the companies whereas employees represent the job-worth evaluation. Consumers are the ones setting the bar for enterprises regarding its future operations like the ways it will induct to hire employees and the type of goods and services produced for consumption. On the other hand, the corporation needs to stress on its internal environment to improve the job positions for its employees for continuously meeting the diverse needs of customers. It is vital for the firms to take suggestions from the performance management experts to satisfy the consumer demands alongside the employee concerns prosperously. The simultaneous presence of both types of job evaluation ul timately leads the organization to provide assistance on analysing and creating jobs. References Bamberger, P. A., Biron, M., Meshoulam, I. (2014).Human resource strategy: Formulation, implementation, and impact. Routledge. Day, N. E. (2012). Pay equity as a mediator of the relationships among attitudes and communication about pay level determination and pay secrecy.Journal of Leadership Organizational Studies,19(4), 462-476. Edwards, M. R. (2012). Employer branding: developments and challenges.Managing Human Resources: Human Resource Management in Transition,5. Effort, D. (2013). Implementing Performance Management and Recognition and Rewards (PMRR) Systems.Human Resource Planning: Solutions to Key Business Issues Selected Articles,12(3), 169. Goetsch, D. L., Davis, S. B. (2014).Quality management for organizational excellence. pearson. Kerzner, H. R. (2013).Project management: a systems approach to planning, scheduling, and controlling. John Wiley Sons. Kinyili, J. M., Karanja, K., Namusonge, G. S. (2015). Role of remuneration and career advancement practices on the retention of employees in organizations: evidence from research.International Journal of Advanced Research in Management and Social Sciences,4(7), 254-279. Mathis, R. L., Jackson, J. H., Valentine, S. R., Meglich, P. (2016).Human resource management. Nelson Education. Purce, J. (2014). The impact of corporate strategy on human resource management.New Perspectives on Human Resource Management (Routledge Revivals),67. Tyson, S. (2014).Essentials of human resource management. Routledge. Ulrich, D. (2013).Human resource champions: The next agenda for adding value and delivering results. Harvard Business Press.

Free Essays on A Life Of Pleasure

A Life of Pleasure In a fast paced society, where everyone is always working and striving to be on top there is always a need for pleasure. Many people today enjoy living for the moment. A Latin phrase known as Carpe Diem quickly comes to mind. This phrase when translated to English means seize the day. That means to suck out everything possible out of life that you possibly can. There is no need to save anything for tomorrow because you may not get another chance. Why should we look into the future when we are in the present? In numerous poems written by Li Po he showed to us that he led a very pleasurable lifestyle. In his poem Bring in the Wine, Li Po states, â€Å" Taste pleasure to the limit,† and â€Å" all I want is to stay dead drunk and never sober up.† Through these statements he makes it very clearly shows his wild and pleasurable lifestyle, similar to many lifestyles led by people today. Clearly Li Po enjoys being intoxicated. Some may question what the need for stimulants may be. Some people may find enjoyment while intoxicated but it doesn’t mean everyone needs to be drunk to have fun and enjoy themselves. Everyone has something that is pleasurable to them. Some people enjoy shopping for themselves or for others. Whereas somebody else may enjoy watching a Sunday football game on their big screen television. There are even those people who find enjoyment working twelve or more hours a day and seven days a week. No matter what it may be that pleasures you, it is suggested to become indulged in it, to such an extent where nothing else matters. Is money an object? Can we put a limit on how much to spend for pleasure? Li Po did not put a price on pleasure. Li Po sent his servant to pawn and trade his possessions for more wine. Some may look at this as if he can’t control himself or that he may have problems with his desire to drink and be drunk all the tim... Free Essays on A Life Of Pleasure Free Essays on A Life Of Pleasure A Life of Pleasure In a fast paced society, where everyone is always working and striving to be on top there is always a need for pleasure. Many people today enjoy living for the moment. A Latin phrase known as Carpe Diem quickly comes to mind. This phrase when translated to English means seize the day. That means to suck out everything possible out of life that you possibly can. There is no need to save anything for tomorrow because you may not get another chance. Why should we look into the future when we are in the present? In numerous poems written by Li Po he showed to us that he led a very pleasurable lifestyle. In his poem Bring in the Wine, Li Po states, â€Å" Taste pleasure to the limit,† and â€Å" all I want is to stay dead drunk and never sober up.† Through these statements he makes it very clearly shows his wild and pleasurable lifestyle, similar to many lifestyles led by people today. Clearly Li Po enjoys being intoxicated. Some may question what the need for stimulants may be. Some people may find enjoyment while intoxicated but it doesn’t mean everyone needs to be drunk to have fun and enjoy themselves. Everyone has something that is pleasurable to them. Some people enjoy shopping for themselves or for others. Whereas somebody else may enjoy watching a Sunday football game on their big screen television. There are even those people who find enjoyment working twelve or more hours a day and seven days a week. No matter what it may be that pleasures you, it is suggested to become indulged in it, to such an extent where nothing else matters. Is money an object? Can we put a limit on how much to spend for pleasure? Li Po did not put a price on pleasure. Li Po sent his servant to pawn and trade his possessions for more wine. Some may look at this as if he can’t control himself or that he may have problems with his desire to drink and be drunk all the tim...

What They Are and How They Were Formed

What They Are and How They Were Formed The word pluvial is Latin for the word rain; therefore, a pluvial lake is often thought of as a formerly large lake created by excessive rain paired with little evaporation. In geography though, the presence of an ancient pluvial lake or its remnants represents a period when the worlds climate was much different from present-day conditions. Historically, such shifts changed arid areas into places with extremely wet conditions. There are also present-day pluvial lakes that show the importance of various weather patterns to a location. In addition to being referred to as pluvial lakes, ancient lakes associated with former wet periods are sometimes put into the category of paleolakes. Formation of Pluvial Lakes The study of pluvial lakes today is mostly tied to that of ice ages and glaciation as the ancient lakes have left distinct landform features. The most prominent and well studied of these lakes are usually related to the last glacial period as this is when they are thought to have formed. Most of these lakes formed in arid locations where there was initially not enough rain and mountain snow to establish a drainage system with rivers and lakes. As the climate then cooled with the onset of climate change, these dry locations turned wet because of different air flows caused by the large continental ice sheets and their weather patterns. With more precipitation, stream runoff increased and began to fill the basins in the formerly dry areas. Over time, as more water became available with the increased moisture, the lakes enlarged and spread across places with lower elevations creating enormous pluvial lakes. Shrinking of Pluvial Lakes Just as pluvial lakes are created by climate fluctuations, they are also destroyed by them over time. For example, as the Holocene epoch began after the last glaciation temperatures around the world rose. As a result, the continental ice sheets melted, again causing a shift in world weather patterns and making the newly wet areas once again arid. This period of little precipitation caused the pluvial lakes to experience a drop in their water levels. Such lakes are usually endorheic, meaning they are a closed drainage basin that retains precipitation and its runoff but it does not have a drainage outlet. Therefore without a sophisticated drainage system and no incoming water, the lakes began to gradually evaporate in the dry, warm conditions usually found in their locations. Â   Some of Today’s Pluvial Lakes Though the most famous of todays pluvial lakes are significantly smaller than they used to be because of the lack of precipitation, their remnants are important aspects of many landscapes around the world. The United States Great Basin area is famous for having the remains of two large pluvial lakes Lakes Bonneville and Lahontan. Lake Bonneville (map of former Lake Bonneville) once covered nearly all of Utah as well as portions of Idaho and Nevada. It formed about 32,000 years ago and lasted until approximately 16,800 years ago. Lake Bonnevilles demise came with reduced precipitation and evaporation, but most of its water was lost as it overflowed through Red Rock Pass in Idaho after the Bear River was diverted to Lake Bonneville following lava flows in the area. However, as time passed and little rain fell into what remained of the lake, it continued to shrink. The Great Salt Lake and the Bonneville Salt Flats are the largest remaining portions of Lake Bonneville today. Lake Lahontan (map of former Lake Lahontan) is a pluvial lake that covered nearly all of northwestern Nevada as well as parts of northeastern California and southern Oregon. At its peak about 12,700 years ago, it covered approximately 8,500 square miles (22,000 square kilometers). Like Lake Bonneville, Lake Lahontans waters gradually began to evaporate resulting in a drop in lake level over time. Today, the only remaining lakes are Pyramid Lake and Walker Lake, both of which are located in Nevada. The rest of the lake’s remnants consist of dry playas and rock formations where the ancient shoreline was. In addition to these ancient pluvial lakes, several lakes still exist around the world today and are dependent on an areas precipitation patterns. Lake Eyre in South Australia is one. During the dry season portions of the Eyre Basin are dry playas but when the rainy season begins the nearby rivers flow to the basin, increasing the lake’s size and depth. This is dependent though on the seasonal fluctuations of the monsoon and some years the lake can be much larger and deeper than others. Todays pluvial lakes represent the importance of precipitation patterns and the availability of water for a locale; whereas the remains of ancient lakes show how a shift in such patterns can alter an area. Regardless of whether or not a pluvial lake is ancient or still existing today though, they are important components of an area’s landscape and will remain so as long as they continue to form and later disappear.