How the Australian Great Barrier Reef Succeeds at...

How the Australian Great Barrier Reef Succeeds at Preservation and Sustainable Use and How it Applies to a Worldwide Problem Coral bleaching is a somewhat recent phenomenon that has prompted many communities and countries around the world to enact policies and legislation that deal with their dying coral reefs. In early 1998, a mass coral bleaching event took place on the Australian Great Barrier Reef, and broad scale aerial surveys confirmed that most of the inland reefs had experienced at least some bleaching (Lally 1999). The following analysis of the Great Barrier Reef will illustrate that a successful policy process must incorporate the people who live, work, and depend on the fragile environment into the decision-making about†¦show more content†¦Coral reefs not only protect coastlines and beaches from wave damage and erosion, but also are the basis for the fishing and tourism industries. Dying reefs is a worldwide problem, and evidence shows that 10% of the entire world’s coral has died, and 60% will die by 2020 if existing conditions continue (NOAA 2000). The reason that the Austral ian Great Barrier Reef is so important is because not only is it the largest barrier reef in the world, but it is also one of the most evolved models of how to best manage and protect the world’s largest reef system (Ornitz 1996). It extends for 2,340 kilometers (km), covers 345,000 square km and contains 2,900 reefs, 300 coral cays and 600 continental islands (White 1999). Historically, it has been ahead of the rest of the world in terms of recognizing and addressing problems associated with reef degradation. What are coral reefs? Corals are tiny immobile animals that live in colonies, where each cluster is called a polyp. Different species build structures of various sizes and shapes, such as brain or fan coral, creating a diverse and complex ecosystem (EPA 2000). Nearly all reef-dwelling corals have a symbiotic (mutually beneficial) relationship with the algae, which live inside the coral polyps and perform photosynthesis, a process that produces food that is shared with the coral (Fagoonee 1999). In addition, the algae share itsShow MoreRelatedOne Significant Change That Has Occurred in the World Between 1900 and 2005. Explain the Impact This Change Has Made on Our Lives and Why It Is an Important Change.163893 Words   |  656 Pagesand industrial depression from the late 1860s to the 1890s, as well as the social tensions and political rivalries that generated and were in turn fed by imperialist expansionism, one cannot begin to comprehend the causes and consequences of the Great War that began in 1914. That conflict determined the contours of the twentieth century in myriad ways. On the one hand, the war set in motion transformative processes that were clearly major departures from those that defined the nineteenth-century

Compensation and Benefit Plan Essay - 1309 Words

Compensation and Benefits Plan Companies welcome employees to their organizations through job proposals that should set the tone for a good working relationship. Companies spend tremendous amount of time and resources seeking and attracting high quality talent and people who will hopefully contribute to the long-term success and future growth of the organization. Compensation and benefit packages can be strategic tools that reflect an organization’s commitment to the employee. They should be designed to meet the candidate’s needs and expectations to ensure acceptance. This paper represents a job proposal created by our team for the position of Senior Reliability Engineer at Medtronic, Inc. Various resources and websites were utilized†¦show more content†¦Company Medtronic Diabetes Location USA-CA-Northridge Job Type Full Time - Regular Exempt/Non-Exempt Exempt Shift First Travel Percentage less than 25% Experience Required 5 years Education Required B.S. in Engineering, Science, or a Mathematical Discipline Position Description: Be a technical leader for the initiation and development of world-class Reliability Program at Medtronic Diabetes for medical device product lines. Responsible for performing reliability activities, such as Ongoing Reliability testing, Physics of Failure, Reliability Growth, and Demonstration. Ensure accurate, timely independent evaluation of product performance, and safety prior to market release or clinical studies. Position Responsibilities †¢ Prepare, review, execute, approve reliability growth and demonstration test plans/reports for the introduction of new product designs, and enhancement/evolution of current product designs. †¢ Perform root cause failure analysis and troubleshooting (mechanical and electrical) for current and new products undergoing reliability and validation testing. †¢ Develop final assembly and sub-assembly/component test plans for HALT/HASS for current and new products. †¢ Create new test equipment and methodology to evaluate, predict the reliability of new products and existing medical devices on both systemShow MoreRelatedCompensation and Benefits Plan Analysis1373 Words   |  5 Pagesreminder does not contain all of the terms and conditions that govern your purchase Compensation and Benefits Plan Analysis The competitive business environment determines companies to focus on developing strategies intended to improve their position on the market. This objective is reached with the help of employees and their performance. In other words, it is important to improve employees performance in order to benefit from an improved position o the market of these companies. The performance improvementsRead MoreEssay on Proposal on a Compensation and Benefits Plan770 Words   |  4 PagesProposal on a Compensation and Benefits Plan Sonia Miranda Sandra Gonzalez HRM/531 Management July 11, 2011 Devin Daugherty Proposal on a Compensation and Benefits Plan Globalization and economy downturn are forcing companies’ to structure their benefit programs differently. Before some companies had a wide array of compensation for employees, but that has changed and these companies had to find ways to cut cost of benefits offer to new employees and find new programs to retainRead MoreA Brief Note On Compensation And Benefits Plan2021 Words   |  9 PagesGC3 Compensation and Benefits Plan Pay Philosophy As GC3 pushes for a stronger and revitalized company, Tri-State Consulting, LLC recognizes the mission, vision and business strategy should be the basis for the company’s Compensation Strategy. â€Å"Turning compensation into a driver of business success is part of knowing your business (Miller, 2011).† Alignment with the business strategy is shown through industry match of compensation in the 50 percentile, which is part of differentiating services fromRead MoreCompensation And Benefits Plan For Newtech International Inc.1195 Words   |  5 PagesIntroduction This is a compensation and benefits plan for Newtech International Inc. aimed at ensuring that current employees and those who will retire from this company get the best in terms of salary and other benefits. In hopes that employee’s will be committed towards achieving the company’s goals (McKeever, 2002). The author of this paper agrees that providing a great compensation and benefits plan will enhance worker performance. Background Information Newtech International Inc. is aRead MoreThe Effect of New Laws and Regulations on Compensation and Benefits Plans1205 Words   |  5 PagesNew Laws and Regulations Affect on Compensation and Benefits Plans Healthcare Reform and pension plan fee disclosures increase employer costs abstract The labor and economic climate and the labor market of today have a lot of uncertainty. In today’s soft labor market, compensation and benefits might seem like a non-issue. Small business are struggling to be competitive in the business world and in order for them to do so them must compete to hire those employees that have a high degree ofRead MoreBenefits Of A Formal Pay Strategy For The Administration Of Compensation Plans1571 Words   |  7 Pageshome country approach? Organizations use pay strategies to assist in the administration of compensation plans. The use of a formal pay strategy allows the assessment and grouping of similar jobs together. Global employers follow different pay strategies because pay strategies are profoundly influenced by different factors such as culture, social contracts, labor relations and management practice. Compensation creates a link between reward and results. Meaning that organizations seek to achieve theRead MoreEmployee Compensation Programs Essay1416 Words   |  6 PagesBenefits have most definitely changed throughout the past years. According to Compensation, during 1880 people worked approximately 14 hours every single day except on Sundays and would only receive a raise if they stayed with the company for five years and if the company prospered during that time (Gerhart, 2011, p. 414). Over the next couple of years, employees began seeing work hours change from 60-64 hours per week to 54 hours by the yea r 1930. Eventually, employees were able to have holidaysRead MoreCompensation and Benefit System Proposal Essay example1090 Words   |  5 Pagesresource department has came up with a new compensation plan. In the propose compensation and benefits system plan , I will explain a new compensation plan for Holland Enterprises, also I will explain the components of the compensation and benefit system plan in order to attract and motivate employees to be productive . In order for the compensation and benefits system plan to be operational, the package should include a necessary level of compensations to fulfill basic needs, equity with the externalRead MoreThe Implementation Of The Apple Company1657 Words   |  7 PagesThe Apple Company satisfies most of its employees using its comprehensive compensation plan that includes all workers irrespective of their positions. To start with, it is among the most profitable companies in the world and it focuses on the manufacturing and desig ning of software and electronics. Additionally, its most popular hardware devices are iPod, Mac Book, iMac, and iPhone, which make significant contributions to the company’s profits. The software devices that it manufactures are iTunesRead MoreBenefits And Benefits Of Ford Motor Company1657 Words   |  7 Pagesgood compensation and benefits plan to remain competitive. As a result, this study focused on researching the types of compensation and benefits plans Ford Motor Company offered to its employees. The study found out that the company offers compensation and benefits plans such as base pay, variable pay, insurance (health, risk, and life), holiday pay, maternity leave, vacation, and pension. This study also determined the advantages and disadvantages of the above compensation plans and benefits.

International Accounting

Introduction International Financial Reporting Standards (IFRS) are established by the International Accounting Standards Board (IASB). These standards facilitate in communicating the financial results of a company to its stakeholders so that they can analyse the information and take appropriate decisions regarding entering into a financial transaction with it. These standards also facilitate in comparing the financial results of two and more companies that prepare their financial statements by complying with the IFRS (IFRS 2013). The local Generally Accepted Accounting Principles (GAAP) is standards set by the local regulatory authority of that country, which is adopted by companies that are based in the concerned country. The selected country for this paper is the UK. This paper focuses on the difference between UK GAAP and IFRS. The three significant differences between UK GAAP and IFRS are illustrated by representing them in the form of financial statements. These differences are related to intangible assets, provisions and government grants. There will also be a discussion of problems faced by the entity in adoption of IFRS for the first time in a chosen country. Besides this, the impact of adoption of IFRS on the financial performance and position of a company is also discussed in this paper (Ernst Young 2012). Differences between IFRS and UK GAAP There is an existence of significant differences between IFRS and UK GAAP. Under IFRS, the statement of changes in equity includes the statement of recognised gains and incomes. The cash flow statement includes both cash, as well as, cash equivalents and there is a classification of interest and dividends on the basis of their nature into three categories i.e. operating, investing and financing. Under certain circumstances, there is an involvement of bank overdraft in cash and cash equivalents. In contrast the UK GAAP states that there is a separate presentation of recognised gains and loses and changes in the shareholders fund. There is no consideration given to cash equivalents under these standards in the cash flow statement and there is also an inclusion of bank overdrafts in cash. The interest, dividends and taxes are classified into different categories of an item (KPMG 2003). The cost of inventory is calculated by using LIFO method, whereas in UK GAAP, LIFO method is rarely used by companies for the evaluation of inventory in their financial statements. The cost of agricultural produce is recorded at cost or net realisable value, whichever is less, but in IFRS, the cost of agricultural produce is recorded at the value attained by subtracting point of sale cost from the fair value. Under IFRS, some of the equity shares are classified as liabilities. In addition to this, the dividend earned on these shares are treated as interest on the accrual basis in income statement, whereas there is a requirement to record all shares under shareholders funds and the shares that are owned by employees under ESOP scheme are treated as assets of a company under UK GAAP (World GAAP Info 2008). In addition to this, the distribution of dividend is recognised in the year to which it relates. There is a requirement to differentiate the amount of dividend and shareholders fund with regard to the equity and non equity. The revaluation of financial statements under IFRS is done either on the mandatory basis or on the option basis. Despite this, the adjustments are made on the basis of current purchasing power if the currency of an enterprise is hyperinflationary. On the other hand, under UK GAAP, there is a rare possibility of revaluation of assets, except property; along with this, there is no additional requirement to be fulfilled by the company under the hyperinflationary nature of currency (Ernst Young 2011). Under IFRS, power to control is the foundation of consolidation and subsidiaries are treated as financial assets if they are excluded from the consolidation. The computation of minority interests is done either on the basis of carrying amounts of subsidiaries or on consolidation; while in UK GAAP, there is a requirement of consolidation only if dominant influence is exercised regardless of the existence of formal power. The treatment of subsidiaries is done as equity if these are excluded from consolidation and have a significant influence on the business of the company (World GAAP Info 2008). In addition to this, the evaluation of minority interest is done on the basis of carrying amounts on consolidation. Under IFRS, there is an exclusion of those acquired assets and liabilities, which do not adhere with the requirements of recognition under other standards. In addition to this, the income statement recognises negative goodwill. There is a capitalisation of transaction cost and the cost of acquisition includes expenses related to the registration and issue of equity securities. On the other hand, UK GAAP recognises those acquired assets and liabilities which do not meet the requirements of recognition under other standards. There is no capitalisation of transaction costs and it involves deduction of cost of issuing shares from gross proceeds and it has been credited to equity shareholders funds (KPMG 2003). There is an exclusion of property under operating lease from investment property and it is recorded at the fair value along with changes in the income statement under IFRS. The dual use investment property is classified only if the separate parts can be sold separately. On the other hand, the investments held under operating leases are considered under investment property and only that part is classified under investment property which can be let out not necessarily to be disposed off separately under UK GAAP. Besides this, there is recognition of investment property at the open market value in the financial statements and the record of changes is to be treated under reserves in this system (World GAAP Info 2008). The impairment is calculated annually for those tangible fixed assets that have a life span of 50 years and the monitoring of cash flows is to be done for five years after a value in use in UK GAAP, whereas impairment is not calculated annually for property, plant and equipment under IFRS and there is no requirement of monitoring after a specified time period. Under UK GAAP, there is an inclusion of provisions in financial statements regarding the sale and termination of an operation. This type of provision includes estimated operating losses for the future period. On the other hand, there is no requirement to make provisions for future operating losses under IFRS. Under UK GAAP, there is no deduction of government grants from the cost of fixed assets to which these grants relate, whereas government grants related to the fixed assets are deducted from the cost of that particular asset (KPMG 2003). The main difference for the treatment of intangible assets between UK GAAP and IFRS is that the intangibles, such as development costs are capitalised and amortised under IFRS, but it is not either capitalised or amortised under UK GAAP. In the IFRS system, it is recorded only if there is a possibility of recovering of the deferred taxes, whereas under UK GAAP, the amount which is not likely to be recovered related to deferred tax assets is recorded. When deferred taxes are related to intra-group transactions, the tax rate of selling entity is applicable under UK GAAP while the tax rate of buying entity is applicable on the deferred taxes associated with the intra-group transactions in IFRS (Ernst Young 2011). There is an adjustment of goodwill only if the recovery of deferred tax assets exceeds the original estimate in IFRS. In addition to this, it is provided from the perspective of the re-evaluation of a financial statement of hyperinflationary subsidiaries; while there is no recognition of deferred taxes under these conditions, as well as, there is no recognition of adjustment of goodwill when the amount of acquisition of deferred tax assets exceeds the estimated value under UKGAAP. Under IFRS, deferred tax assets are not discounted, whereas in UK GAAP, deferred taxes can be discounted (World GAAP Info 2008). Under IFRS, the profits and losses from the repurchase or settlement of debt are not considered as extraordinary items, whereas it is treated under interest in UK GAAP. There is a separate accounting standard for hedging under IFRS while no detailed information is provided under UK GAAP. The financial instruments that are not classified under derivatives can be used for hedging the exposure of risk related to currency fluctuations in IFRS but these instruments cannot be used for hedging the risk related to the foreign currency fluctuations under UK GAAP. No mandatory format related to the income statement is given under IFRS but companies that follow UK GAAP have to present their income statement in a format given under these standards. The treatment of contingent assets and liabilities under UK GAAP guide that companies have to provide full information to stakeholders as per the rules and regulations of Companies Act 1985, even if this results in serious bias. On the other hand, only some information can be disclosed rather than full disclosure under IFRS. The recognition of unrealised profits in the income statement is allowed under IFRS, whereas it is allowed to recognise the unrealised profits in income statement under UK GAAP. There are no guidelines given for share based payments under IFRS, whereas expenses related to shares are recorded on the basis of intrinsic value under UK GAAP. Under UK GAAP, extra ordinary items are removed effectively and specific rules are mentioned under these standards for the treatment of these ite ms. In contrast, IFRS do not provide any disclosure regarding extraordinary items and these are present in certain special circumstances. There is a need to disclose detailed information related to the credit risk, currency risk, and interest rate risks before the effect of hedging under IFRS, whereas the information related to these risks is provided in the financial statements after the effect of hedging in case of UK GAAP. Preparation and Translation of Financial Statements The PR Solutions was established in 2012. PR Solutions started its business with cash of 500000. The entity started its business in London and was setup to provide the consultancy service in the United Kingdom. PR Solutions follows the accounting standards of the United Kingdom (UK GAAP). Before starting the company, the promoters conducted some research and development for 50000. Following are the some basic accounting treatment in the United Kingdom Development Cost (Intangible asset) is not capitalised and it is deducted from the income statement when it is incurred. Provisions for future losses are recognised using estimated future operating losses. Government Grants are not deducted from the cost of fixed assets. Prepaid Expenses are recognised in the balance sheet. Transactions in Year 2012 Company has purchased a land for 200000 in the year 2012. Company has incurred a development cost of 20000 related to the business work. As per UK GAAP, development costs are intangible assets and it is the part of administrative cost. PR Solutions has created the provision for future losses of 20000. These losses are expected to be incurred due to the close down of the unit 2 in the year 2014. Expected total from the sale of unit 2 is about 40000, which is divided in two years i.e. 20000 in 2012 and 20000 in 2013. Company has received grants from the government for building its infrastructure. The gross amount of the grant is 80000 to be used in two years i.e. 40000 in the year 2012 and 40000 in the year 2013. This grant is to be utilised for construction of the building. The cost incurred in the building construction is 150000. Rent paid for office building is 2000 per month. Rent for Building Paid in Advance for 2 months is 4000. Salary paid to Employees is 30000. The Revenue from the operation received in cash is 100000. The tax rate on the entity is 30 % of the taxable income. Transactions for Year 2013 Entity has recognised the provision for future losses relating to the demolishment of unit 2, which amounts to 20000. The Entity has used its remaining government grants of 40000 Cost incurred for construction of building amounts to 100000 from which 40000 is utilised from the government grant. Rent paid for office building is 2000 per month. Rent for Building Paid in Advance for 2 months of 4000. Salary paid to Employees is 50000. The Revenue from the operation received in cash is 180000. The tax rate on the entity is 30 % of the taxable income. Prepaid rent recognised in this year. Entity has paid its previous year Tax of 13,800. Income Statement for Year 2013 (According to UK GAAP) Particulars Amount in Total Revenue From operations 180000 Add: Government Grant 40000 Less: Administrative Cost(Rent) 24000 Less: Other Operating expenses ( provision) 20000 Less: Salary Paid 50000 Profit before Tax 126000 Less: Tax Expense @ 30% 37800 Profit 88200 Balance Sheet as on 31st December, 2013 Particulars Opening balance A B C D E F G H J Closing balance Fixed assets Building 150,000 100,000 250,000 Land 200,000 200,000 Current assets Cash 252,000 -100,000 -20,000 -4,000 -50,000 180,000 -13,800 244,200 Prepaid Rent 4,000 -4,000 4,000 4,000 Total assets 698,200 Equity Share capital 500,000 500,000 Profit 32,200 -20,000 40,000 -24,000 -50,000 180,000 -37,800 120,400 Current liabilities Government Grants 40,000 -40,000 0 Provision 20,000 20000 40,000 Current tax liability 13,800 37,800 -13,800 37,800 Total equity and liabilities 698200 Translation table for IFRS Opening Statement of Financial Position at December, 31st, 2013 Particulars UK GAAP Govt. Grant Development Cost Provision for Future Losses Deferred tax IFRS Fixed assets Building 250,000 -40,000 210000 Land 200,000 200000 Intangible assets 0 12,000 12000 Current assets Cash 244,200 40,000 284200 Deferred Tax Asset 7200 7200 Prepaid Rent 4,000 4,000 Total assets 698,200 717400 Equity Share capital 500,000 500,000 Profit 120,400 12,000 40000 7200 179600 Current liabilities Government Grants 0 0 Provision 40,000 -40000 0 Current tax liability 37,800 37800 Total equity and liabilities 698,200 717400 Income statement translation table Particulars UK GAAP Government Grant Development Cost Provision Deferred tax IFRS Revenue 180000 180000 Government Grant 40000 0 40000 Development Cost 0 12000 12000 Administrative Cost -24000 -24000 Provision -20000 20000 0 Salary Paid -50000 -50000 Tax Paid -37800 7200 -30600 Profit 88200 127400 Working Notes Calculation of Deferred Tax Adjustment for: UK GAAP IFRS Difference Deferred tax (30%) A for asset, L or liability Intangible assets 0 12000 -12000 -3600 L Provision 40000 0 40000 12000 A Deferred tax Asset Opening Statement of Financial Position 8400 Less: previously created 1200 Total 7200 IFRS financial statements for Year 2013 Statement of Financial Position at December, 31st Particulars 2012 2013 Fixed assets Building 110000 210000 Land 200000 200000 Intangible assets 16,000 12000 Current assets Cash 292000 284200 Deferred Tax Asset 1200 7200 Prepaid Rent 4,000 4,000 Total assets 623200 717400 Equity Share capital 500,000 500,000 Profit 69400 179600 Current liabilities Government Grants 40,000 0 Provision 0 0 Current tax liability 13,800 37800 Total equity and liabilities 623200 717400 Statement of Comprehensive Income for 2013 Particulars Amount Revenue 180000 Government Grant 40000 Development Cost 12000 Administrative Cost -24000 Provision 0 Salary Paid -50000 Tax Paid -30600 Profit 127400 Statement of Changes in Equity for the year ended December, 31st, 2013 Particulars Share Capital Profit Total Balance at Jan, 1, 2013 500,000 69,400 569,400 Total Comprehensive Income for 2013 127,400 127,400 Balance at Dec, 31, 2013 500,000 196,800 696,800 Cash Flow Statements for the year 2013 Particulars Amount in Cash flow from operating activities Profit before tax provision 144,000 Amortization of intangible asset -4,000 Cash generated (used) from operations 140,000 Working Capital changes Deferred Tax Assets -6,000 Government Grants -40,000 Income tax paid -13,800 Net cash from operating activities 92,200 Cash flow from investing activities Investment in Building -100,000 Net cash from Investing activities -100,000 Cash flow from financing activities Net increase in cash and cash equivalents -7,800 Cash and cash equivalents at beginning of period 292000 Cash and cash equivalents at end of period 284200 The impact of the first adoption of IFRS on the entitys financial position and performance Opening Statement of Financial Position reconciliation Particulars UK GAAP Note Difference IFRS Fixed assets Building 150,000 40000 110000 Land 200,000 200000 Intangible assets 0 2 16,000 16,000 Current assets Cash 252,000 40,000 292000 Deferred Tax Asset 0 4 1,200 1200 Prepaid Rent 4,000 0 4,000 Total assets 606,000 623,200 Equity Share capital 500,000 0 500,000 Profit 32,200 3 37200 69,400 Current liabilities Government Grants 40,000 1 0 40,000 Provision 20,000 5 20000 0 Current tax liability 13,800 0 13,800 Total equity and liabilities 606,000 623200 Notes The government grants are not deducted from the cost of building as per UK GAAP as government grants are related to the fixed asset i.e. building. These grants are deducted from the cost of building at the date of the opening statement of financial position i.e. balance sheet under IFRS. The development cost for the company is 20,000. As per UK GAAP, the development costs are not capitalised and 4000 will be deducted from the profit and loss account for 5 years, instead of presenting in the opening statement of financial position, whereas development costs are capitalised and 4000 is amortised each year for 5 years as per IFRS and is included in the opening balance sheet. The opening balance of retained earnings has changed due to the difference in the accounting treatment, such as government grants, inclusion of intangible assets, and non recognition of provisions and the effect of taxes applicable in the opening statement of the financial position. The changes in the deferred taxes have occurred due to three significant adjustments that have been taken in account during the translation process. These adjustments relates to provision, intangible assets and government grants. The provisions related to future losses are permitted under UK GAAP, but are restricted under IFRS due to which these are not included in the opening statement of the financial position. The first adoption of IFRS by PR Solutions has impacted its financial position in a significant manner due to the above differences in the accounting treatments under two different standards, namely IFRS and UK GAAP. Closing Statement of Financial Position reconciliation Particulars UK GAAP Note Difference IFRS Fixed assets Building 250,000 1 40000 210000 Land 200,000 0 200000 Intangible assets 0 2 16,000 12,000 Current assets Cash 244,200 40,000 284200 Deferred Tax Asset 0 4 1,200 7200 Prepaid Rent 4,000 0 4,000 Total assets 698,200 717,400 Equity Share capital 500,000 0 500,000 Profit 120,400 59200 179,600 Current liabilities Provision 40,000 3 20000 0 Current tax liability 37,800 0 37,800 Total equity and liabilities 698200 717400 Notes The UK GAAP recognises non deduction of government grants from the cost of building and the amount of government grants is subtracted from the cost of building in the opening statement under IFRS, which states that same treatment is done in the closing statement of the financial position as well. Under UK GAAP the development cost is not capitalised and not included in the closing balance sheet, but as per IFRS, the development costs are capitalised and included in the balance sheet. The provisions related to future losses are not included in the year 2013 in the closing statement of the financial position under IFRS as compared to UK GAAP, which affects the financial position of the company. The adjustments in the year 2013 related to the changes in the accounting treatment of different items, such as development costs, provisions, and government grants and taxes affect the deferred taxes for the given year. Notes There is an inclusion of development cost under IFRS, whereas there is no inclusion of development cost under UK GAAP due to which there is a positive impact on profit under IFRS. Provisions are not included in the IFRS and it is charged under the income statement in UK GAAP which has a positive impact on the profit of the company under IFRS. There is an inclusion of deferred taxes in the IFRS as compared to UK GAAP which reduces the tax liability of the company and increases its profit. Problems faced by entities in the UK by the adoption of IFRS for the first time Entities based in the UK that have adopted UK GAAP face problems at the time of implementing IFRS for the first time for preparing its financial statements. In order to change the financial statements, as per the IFRS, entities have to do analysis of those items and activities that have an impact on their financial statements. Besides this, the collection of the data which is required to make changes in the existing figures due to the changes in the procedure of accounting treatment of different items is also done by the entity. The company have to reassess the accounting policies and standards as these have a great influence on the format of financial statements. It is a very long process and requires huge amount of cost and time. Businesses also face issues related to the audit procedure of the financial position as there is a requirement to audit the financial statements fully from UK GAAP to IFRS (KPMG 2013). There is a requirement to do detailed analysis of adjustments as IFRS requires inclusion of additional adjustments related to different items that are included in the statements. The adoption of IFRS requires disclosing more information as compared to UK GAAP. Company also finds difficulty in engaging with Audit Committees before a prescribed time so as to spread awareness among them about the procedure, as well as, the impact of adoption of IFRS (KPMG 2013). At the time of adoption of IFRS for first time, company has to follow a set of procedure issued by the IASB, if these entities are adopting it after 1 January 2009 (Deloitte 2013). The treatment of deferred tax is an additional requirement under IFRS that makes the process complex and difficult. The adoption of IFRS forces entity to prepare financial statements of the year in which it is adopted, in addition to a year prior to the adopted year. It also faces difficulty with regard to treatment of taxes. This is because taxes greatly influence the amount of profit earned by the company. The company, in order to reduce its tax liabilities so as to reduce the negative impact on its profitability, has to adopt different measures (Moore Stephens). Besides this, a firm has to classify its assets and liabilities as per the accounting standards of IFRS due to the absence of recognition of some assets and liabilities under UK GAAP. There is also a need to reclassify the opening balances of as sets and liabilities of a firm as per the guidelines of IFRS (Deloitte 2013). References Deloitte. 2013. IFRS 1 First-time Adoption of International Financial Reporting Standards. [Ernst Young. 2011. UK GAAP vs. IFRS. [Online]. Available at: Ernst Young. 2012. International GAAP 2012 - Generally Accepted Accounting Practice Under International Financial Reporting Standards. John Wiley Sons IFRS. 2013. About us. KPMG. 2003. IAS compared with US GAAP and UK GAAP. KPMG. 2013. IFRS Practice Issues. World GAAP Info. 2008. UK FRS.

Contemporary Hotel and Tourism Issues

Question: Discuss about theContemporary Hotel and Tourism Issues. Answer: Housing Development Being an administrative section of China, Hong Kong is a very popular destination for many travelers. In fact, tourism has played a major contribution to the economic growth of Hong Kong. As such, the hotel industry has been on an upward growth in order to accommodate the increasing number of visitors (Gerlach and Peng, 2005). However, the luxurious hotels have been facing challenges due to increasing changes in tourist patterns. Most travelers come to Hong Kong to do shopping. As a result, they are not willing to spend so much on accommodation, indicating that they may not be ready to pay for luxurious hotels. This translates to these visitors opting for middle-class hotels for accommodation. This would require the hotel owners to put on strategies that accommodate the dynamic visitor changes and patterns. With different generations facing different preferences for hotel selection, with the young generation being the majority of the hotel customers, on the other hand, the generation Y is very demanding and has high expectations. Being the most emotional, this generation is least satisfied yet a very loyal class of customers. They are not ready to pay more money for accommodation but they insist on value. Having grown in the era of technology, this generation does not give value to the interpersonal services but rather they prefer the automatic check-in and free Wi-Fi. For quite some, the number of guests has been on the decline due to a shaking economy of Hong Kong. Therefore the plans that were underway in an attempt to convert old industrial buildings into hotels are thus being abandoned by the developers (Mok et al., 1995). In fact, almost half of these hotels that were being planned for construction have been left. Moreover, the increased costs of construction have been linked to the decline in accommodation services. It is important to note that the property prices in Hong Kong are very, which could have a direct effect on the availability of accommodation. There is an imbalance between demand and supply of land. For instance, the majority of the land in Hong Kong is underdeveloped although the government insists on a shortage of land. So once the government provides infrastructure and transport services to all parts of Hong Kong, then most of the land will be used to develop real estate (Yiu et al., 2013). As a result of this imbalance, the limited accessible land is not able to accommodate enough accommodation facilities for such an increasing population. The property prices are fueled by an increase in the number of wealthy Chinese investors and low-interest rates. This means that the prices of housing facilities affect many aspects in any society. In fact, the high housing facilities in Hong Kong is regarded to be the highest in the world (Lau and Murie, 2016). There are fears that the youths might not be able to afford their own homes at the current rate. An aspect of market failure can also be seen and the government of Hong Kong needs to put strategies in place to ensure that the private accommodation facilities are affordable (Jim and Chen, 2009). This would include the construction of housing facilities that are cheap as well as the establishment of new towns outside the central business region. Moreover, the government needs to lower the regulations that lead to an increase in the housing facilities construction. Since all the land in Hong Kong is owned by the government, then it can lease it at affordable terms and make regulations on the type of developments to be made on the land (Cheung et al., 2016). A large number of people in Hong Kong are basically primary property owners and have an investment property. Those who do not own property are unsure of the possibilities of owning property in future. What this means is that it is ac tually difficult to enter the property market, creating an uneven housing facilities provision. Tourist Experiences The development of tourism in Hong Kong has benefited it by the creation of many employment opportunities. This then leads to the development of other businesses such as transport, food, and beverage as well as accommodation. However, there are also negative effects of Hong Kong being a tourist destination. For instance, there are some tourists who come to commit crimes while some pregnant women from the mainland of China come to deliver in Hong Kong occupying many hospital beds. It is the responsibility of the Hong Kong tourism commission to ensure that the customer experiences are improved through the development of events and new sites of attraction. However recently, there has been a decline in the number of visitors coming to Hong Kong (Zhang and Kulendran, 2017). Being a very expensive city, Hong Kong has also recorded a low number of Chinese tourists turn out. The accommodation facilities are very high while the food is not of preferred quality and equally expensive. Some tour ists argue there are more affordable and interesting cities to choose from apart from Hong Kong. So far, the major attraction which has remained peculiar to tourist going to Hong Kong is the shopping experience. This city on the South Coast of China has been regarded as the all round world stop over due to its tax and sales tax-free shopping. The absence of the sales tax makes the purchase of some luxurious goods from Hong Kong cheaper than buying from the wholesale shops in the individual tourists's countries. The flowers are also a bit affordable from Hong Kong which makes their demand to be high all year round (Shen et al., 2016). The local flower markets in Hong Kong are now high because at least people can use flowers for various occasions. However, there are important attractions like the museum which gives an understanding of the long and complex history of Hong Kong. They also indicate the archeology, religion and social life of the residents of Hong Kong. A food tour is also attractive especially after taking rounds in a car taking a view of the skyline. Hong Kong has a variety of foods that range from all regions of the world. Something else worth noting is the Tsim Sha Tsui Waterfront and the Avenue of stars, where one can see the stars of the Chinese film. Reference List Cheung, L., Chow, K., Cheng, M. and Ng, P.K., 2016. Inflation mechanism and monetary policy: perspectives from Hong Kong. Gerlach, S. and Peng, W., 2005. Bank lending and property prices in Hong Kong. Journal of Banking Finance, 29(2), pp.461-481. Jim, C.Y. and Chen, W.Y., 2009. Value of scenic views: Hedonic assessment of private housing in Hong Kong. Landscape and Urban Planning, 91(4), pp.226-234. Lau, K.Y. and Murie, A., 2016. Residualisation and resilience: public housing in Hong Kong. Housing Studies, pp.1-25. Mok, H.M., Chan, P.P. and Cho, Y.S., 1995. A hedonic price model for private properties in Hong Kong. The Journal of Real Estate Finance and Economics, 10(1), pp.37-48. Shen, H., Li, X., Luo, J.M. and Chau, K.Y., 2016. One country, two strata: Implications of social and cultural conflicts of Chinese outbound tourism to Hong Kong. Journal of Destination Marketing Management. Yiu, M.S., Yu, J. and Jin, L., 2013. Detecting bubbles in Hong Kong residential property market. Journal of Asian Economics, 28, pp.115-124. Zhang, H.Q. and Kulendran, N., 2017. The Impact of Climate Variables on Seasonal Variation in Hong Kong Inbound Tourism Demand. Journal of Travel Research, 56(1), pp.94-107.

The Great Gatsby Argument Essay free essay sample

Viren Kumar Mrs. Parato AP Language and Composition March 2, 2013 Society’s Shadow Goals, objectives, targets, and ambitions are incentives that drive one to emerge from their comfort zone. Each individual, rich or poor, isolated or active, normal or abnormal, has a way to communicate with others and act in society based on personality. Most people want to be accepted by others to fit into society and be normal. There is always one person who has a different perspective than everyone elses and is uniquely considered an outcast. In the novel, The Great Gatsby, author F. Scott Fitzgerald portrays Jay Gatsby as an isolationist that is compelled to play ambiguous roles in society to obtain the green light across the channel, which in effect causes Gatsby to be placed in a nerve-racking situation. Society is a big influence on Gatsby and his actions. He is first introduced by Miss Baker. â€Å"[Nick] decided to call to him. We will write a custom essay sample on The Great Gatsby Argument Essay or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Miss Baker had mentioned him at dinner, and that would do for an introduction† (Fitzgerald 20). Nick Caraway is a parallel with society because he is influenced by the thoughts and ideas of others that structure society. Since Miss Baker mentions Gatsby over dinner, Gatsby is seen as an interesting topic that needs to be explored. Jay, being an isolationist that he is, tries to hide himself from society by displaying motions hinting to people like Nick: â€Å"But [Nick] didn’t call to him, for he gave a sudden intimation that he was content to be alone† (20). Gatsby makes a â€Å"sudden intimation†, and it seems that Gatsby knows there is someone watching him and observing his every action, and in attempts to isolate himself and avoid being â€Å"[called] out to†, he makes a subtle allusion to the fact he wants to be left to himself (20). Thus society forces Gatsby to make the movement he makes by gossip and communication. Society’s observations in this passage will show to define many of Gatsby’s actions as the novel progresses. People have secrets in their life that can determine who they truly are; Gatsby has his own that are the power that compels him to act the way he does. Gatsby is carefully observed, and as he involuntarily glanced seaward and distinguished nothing except a single green light, minute and far way, that might have been the end of a dock(Fitzgerald 21). Gatsby stares at a distant green light, which implies a special connection between the two. Considering â€Å"he stretched out his arms toward the dark water in a curious way† and that Gatsby â€Å"was trembling† his secret relation with the green light must be special because one does not tremble for any reason (Fitzgerald 21). There is an emotional bonding that may date back a long time. His yearning for the light—†stretched out his arms†Ã¢â‚¬â€is foreshadowing for the rest of the story where he struggles to obtain this light (21). An obvious tension between the relationship of Gatsby and the mysterious light is visible from the â€Å"trembling†, and this tension creates the ambiguousness in Gatsby’s role in the novel (21). Fitzgerald uses figurative language to introduce the protagonist, which exemplifies Gatsby’s mysterious appearance to emphasize his perplexing personality. As Nick is outside his home after a night with the Buchanan’s, a strange yet familiar silhouette appears just on the other side of his yard, in his neighbor’s yard. â€Å"The silhouette of a moving cat wavered across the moonlight† (Fitzgerald 20). This cat, in turn, is actually Jay Gatsby. Although, the comparison that Fitzgerald makes with Gatsby and the cat does serve as a tool to analyze his characteristics. Felines tend to walk in a stealthy manner at night, and they are very cautious about being watched. The comparison indicates that Gatsby was trying to be wary of his surroundings. Gatsby may be the figure, but noticing that there is no adjective on the noun, â€Å"figure†, whereas throughout the rest of the passage there are many adjectives to describe his surroundings, this anomaly provides Gatsby as a figure the appearance of an inexplicable figure (20). With his â€Å"hands in his pockets†, this signifies a sign of secrecy to illustrate his complex personality (20). Gatsby may have wanted to protect some secrets about the green light. Gatsby’s method of an introduction is an explanation of the ambiguous role he is going to play and the uncomfortable nature of his future situation. The Great Gatsby is a novel that depicts the role of Gatsby as one of an isolationist that is forced into an ambiguous role in society. Through misinterpretations of his actions, he is thought to have a misleading identity. As society observes the fascinating movements of Gatsby in his yard, the motions that Gatsby performs communicate thoughts of isolation to society, but later on in the passage, motions such as the stretching out of the trembling arms, represent predictions of society pulling Gatsby into societal problems and issues.

In this assessment am going to be discussing theories of communication Essay Example

In this assessment am going to be discussing theories of communication Essay Example In this assessment am going to be discussing theories of communication Essay In this assessment am going to be discussing theories of communication Essay In this assessment am going to be discussing theories of communication and am going to be including Argyles stages of communication cycle and Tuckman stages of group interaction. They are many ways barriers can be affected and in this assignment I will be talking about the languages how it effect communication, culture, background and area you live in. I will also be covering the way it can be overcome. What is effective communication? Effective communication is when the person/people understood what your message is. For example if you are talking to youths in London than you could use slang but if you used slang to an adult than they wouldn’t understand what you are trying to say. And you also need the right tone of voice because you can’t talk to fast or too slow if do talk to fast than the person/people wouldn’t be able to keep up with you and the communication wouldn’t be effective. Its also good to look at people when you are talking to them but sometimes even this effect communication because in some African cultures (sierra Leone) its rude to look at someone in the eye especially if they older than you. Tuckman stages of groups interaction Communication in groups can also be influenced by the degree to which people feel they belong together. When people first meet in a group they often go through a process of group formation. Many groups may experience some sort of struggle before people unite and communicate effectively. One of the best known theorists to explain group formation stages is Tuckman (1965). Tuckman suggested that most groups go through a process involving four stages. Forming- people meeting for the first time and sharing formation. storming- involves tension, struggle and sometimes arguments about the way the group might function Norming- sees the group coming together and consciously or unconsciously agreeing on their group values. Performing- being an effectively performing group. The communication cycle Effective communication involves a two way process in which each person tries to understand the viewpoint of the other person. Communication is a cycle because when two people communicate they need to make sure the other person has understood the message. Good communication involves the process of checking understanding, using reflective or active listening. Michael Argyle stages of the commutation cycle. Michael Argyle (1972) argued that interpersonal communication was that could be learning and communication was a skill that could be learning to drive a car. Argyle emphasised the importance of feedback in skilled activities. When you drive a car you have to change your behaviour depending on what is happening on the road. Driving involves a constant cycle of watching what is happening, working out how to respond, making response and then repeating this cycle until you reach your destination. According to Argyle, skilled interpersonal interaction (social skills) involves a cycle in which you have to translate or ‘decode’ what other people are communicating and constantly effectively. Verbal and non-verbal communication is not always straightforward. The communication cycle involves a kind of code that has to be translated. You have to work kind of code that has to be translated. You have to work out what another person’s behaviour really means.

Legalization of Horseshoeing and Equine Dentistry Research Paper

Legalization of Horseshoeing and Equine Dentistry - Research Paper Example Details from the article written by Bowden cited State Rep. Jim House, a part-time farrier, to have acknowledged that â€Å"Arkansas has 625 veterinarians, but only nine of them specialize in horses†. Lee McGrath, executive director of the Minnesota chapter of the Institute for Justice, indicated that the primary rationale for instituting the regulations would be to eliminate competition from non-licensed practicing veterinarians. The ranchers and owners of horses have expressed their arguments on the matter indicating that prohibition of horseshoeing by farriers and employing equine dentists would tantamount to increased costs in terms of higher professional fees charged by veterinarians and the hustles imposed by the need to bring their horses to the vets for the needed procedures. The Veterinary Medical Practice Act stipulates that part of a licensed veterinarian’s scope of responsibilities include â€Å"the diagnosis, treatment, correction, change, relief, or prevention of animal disease, deformity, defect, injury, or other physical or mental condition, including the prescribing or administration of any prescription drug, medicine, biologic, apparatus, application, anesthetic, or other therapeutic or diagnostic substance or technique on any animal, including, but not limited to, acupuncture, dentistry, animal psychology, animal chiropractic, theriogenology, surgery, including cosmetic surgery, any manual, mechanical, biological, or chemical procedure for testing for pregnancy or for correcting sterility or infertility or to tender service or recommendations with regard to any of the above† (Arkansas Veterinary Act, Code 17-101-102 9A). The current practice of Arkansas ranchers traditionally use registered farriers and equine dentists to undertake routinary procedures . In an article written by Bowden (2010), the author cited Dr. Lyndon H. Tate, a veterinarian in Mansfield and member of the Arkansas Veterinary Medical Examining Board, as supportive and â€Å"defended the wording in the law. The practices act was set up to protect the animals, and the rights of the animal owner, from sub-standard veterinary procedures".

Film Analysis Essay Example | Topics and Well Written Essays - 750 words - 6

Film Analysis - Essay Example aging a Living†, especially in its story about Barbara Brooks who is a 36 year-old single, black mother living in Freeport, New York, reflects the matrix of domination in relation to how Barbara experiences herself in relation to social class, race, and gender, as well as how these intersect to form a boundary between subordination and privilege. In short, Barbara’s story in â€Å"Waging a Living† seen from the matrix of domination perspective, represents the fact that understanding oppression requires initial understanding of privilege as a counter position. Society typically uses descriptive dichotomies like white/black or female/male, which are in direct opposition to one another and are rarely representative of equal relationships (Zinn & Dill, 1996). This phenomenon can be used to describe the reason why Barbara Brooks finds herself in her position of domination. In this case, she falls into two halves that society considers inferior, which are being black and being female. This intersection of gender and race has been identified as having a significant influence over the labor market. For instance, despite Barbara having the requisite skill, experience, and education to succeed, these factors are not enough to make a difference in the outcome of the labor market. She still has to balance her responsibilities as a full time worker and a single mother, of which the latter is a consequence of her gender. The intersection of gender and race also has a significant impact on wages, especially since she is forced to return to her school a nd work schedule as she is unable to support her family. By understanding intersectionality and the labor market, it is further easier to see how the intersection of gender and race, as well as economic inequalities, impact on social status and class (Zinn & Dill, 1996). In Barbara’s case, her gender and race also intersect with her social status to make her even more dominated. Barbara lives in Freeport, New York where the

Absence s of trust Essay Example | Topics and Well Written Essays - 250 words

Absence s of trust - Essay Example Another basis of absence of trust is conditioning; a person’s conditioning may make him to have problems trusting others. Conditioning happens when an individual gradually acquire certain behaviour patterns without realizing it. How someone was conditioned to behave in a family or friend setting may make him or her to lack trust in others (Duden, 2011). Past relationships is the other basis for absence of trust as pain and suffering from the past relationships may make it difficult for a person to trust others. Institutional corruption has been found to be another basis of absence of trust; as people lose trust in their institutions such as political or religious, they tend to lose trust at personal and organizational levels (Tan and Lim, 2009). Just like in personal relationships, trust applies greatly within an organization context. Trust determines whether an organization will meet its goals and objectives or not. Trust in an organization is broader in the sense that it relates to how employees, management, and other stakeholders rely on the ability, truth, strength, or character of each other towards realization of organizational goals (Duden, 2011). The essence of trust in organization has been captured through conceptualization of dysfunctional teams (Tan and Lim, 2009). Absence of trust has been identified as one of the five main dysfunctions of a team. This explains why organizations always work towards strengthening perceived or real trust within itself or with

Precast System In Malaysia Construction Industry

Precast System In Malaysia Construction Industry The world has currently been alarmed with the issue of environment and sustainability, and indeed the construction industry has constantly been worried by the increasing cost of building maintenance and lifecycle issues. Therefore, in the last decade, IBS was promoted to enhance the importance of prefabrication technology rather than conventional method. Industrialised Building System (IBS) can be defined as a construction system in which components or elements of the structure such as column, beam, slab etc are manufactured in factories, on or off site, transported, positioned, assembled and constructed into structure with minimal additional site work. Malaysian government has adopted the IBS since sixties and underwent great efforts in this field (Thanoon et. al. 2003). The early attempt to apply IBS in Malaysia was the two pilot projects, the first project was Pekeliling Flats in Kuala Lumpur in 1964 and this project was undertaken by Gammon/ Larsen Nielsen using the Danish System of large panels in a pre-fabricated system. The second project was Taman Tun Sardon project, Gelugor, Penang in 1965 and this project was awarded to Hochtief/ Chee Seng using French Estoit System (Din 1984). In Malaysia, Construction Industry Development Board (CIDB) has classified the IBS system into 5 categories as Pre-cast Concrete Framing, Panel and Box Systems, Formwork Systems, Steel Framing Systems, Prefabricated Timber Framing Systems and Block Work Systems. The advantages used of IBS such as the reduction foreign workers, less wastage, less volume of building materials, increased environmental and construction site cleanliness and better quality control etc. thus these advantages also enhanced a safe and more organized construction site, and reduce the completion time of construction. Unfortunately, the adoption of precast system in IBS still low in current state of Malaysia construction industry. 1.2 Problem Statement Industrialised Building System (IBS) was well known in many developing countries as it provides high level quality construction, more cost competitive, rapidly increases construction period, reduces dependence on foreign labour, reduces wastage environmental-friendly and maintains cleanliness at construction sites. The Governments IBS Roadmap 2011 to 2015 will increase the existing IBS content to 50 per cent in the private sector Malaysia. Till now, the usage of IBS content in the private sector is less than 10 per cent. The roadmap also plans to sustain the existing momentum of 70 per cent IBS content for the public sector. IBS Survey 2010 highlighted that the use of system formwork such as metal, aluminium, plastic etc. gained its popularity recently due to its flexibility, because it can be used in many projects, recyclable at many phase of construction and can be used in different types of design structure. System formwork is not dependent on economy of scale and commercially via bility (Kamar et al, 2011). However, the precast system plays a significant role in IBS, but the use of precast system still low. What is the perception and awareness to the adoption of precast system in Malaysia? What are the problems in the implementation of precast system? The quality of precast system is enough sustainable? Precast system inflexible to change? 1.3 Aim and Objectives The aim of the study is to analysis the implementation of precast system in current states Malaysia construction industry. To achieve this aim, the following objectives have been identified: To determine the benefits of adoption of precast system. To identify the problems on adoption of precast system. To determine the factors affect the standardized of precast design 1.4 Hypothesis Adoption of precast system can provides high level quality construction, more cost competitive, rapidly increases construction period, reduces dependence on foreign labor, reduces wastage environmental-friendly and maintains cleanliness at construction sites. 1.5 Scope of Study The scope of study will focus on the precast system of IBS only. Data collection will conduct in Kuala Lumpur and Selangor only. 1.6 Research Methodology Questionnaire 100 questionnaires will send by mail or post to developer companies, consultant practices, contractor companies and manufacturers in Kuala Lumpur and Selangor. The design of survey questionnaire includes several processes such as literature review on survey and IBS (precast system) itself. It is important to enhance knowledge in survey method. The questions provide primarily quantitative data, and are frequently used in confirmatory research. In determining the objective of this research, close-ended question was widely used as it could provide the answer in a scale format. Interviews Follow up interviews also were used in this research as a confirmation or to add more information on IBS (precast system) from the respondents. CHAPTER 2 LITERATURE REVIEW 2.1 Definition of Industrialised Building System In Malaysia construction sector, Industrialised Building System (IBS) is defined as construction system which components are manufactured in factories, on or off site, transported, positioned and assembled into structure with minimal additional site work (IBS Survey CIDB, 2003). IBS also defined as which all building components such as floor slab, column, wall, staircase and beam are mass produced either in factories or at site with well quality control and reduce on site activities (Trikha, 1999). Warswaski (1999) asserted that an industrialisation process is an investment in equipment, facilities, and technology with the objective of maximising production output, minimising labour resource, and improving quality while a building system is defined as a set of interconnected element that joint together to enable the designated performance of a building. An IBS is a continuum beginning from utilising craftsmen for every aspect of construction to a system that make use of manufacturing production in order to minimize resource wastage and enhance value for end users (Esa and Nuruddin, 1998). Lessing et al, (2005) defined IBS as an integrated manufacturing and construction process with well planned organization for efficient management, preparation and control over resources used, activities and results supported by the used of highly developed components. 2.2 History of Industrialised Building System Nowadays, the implementation of Industrialised Building System (IBS) is not new and not just occurs in Malaysia construction industry. The history of using IBS started in the United Kingdom housing industry on the mid of 1900à ¢Ã¢â€š ¬Ã¢â€ž ¢s, when IBS and other types of prefabricated construction system or technique were used to solve the shortage of houses due to the problem of widespread destruction of housing stock during the Second World War. The attention and adoption of IBS were getting more concerned in construction sector after the Second World War due to the need to quickly solve the critical shortage of houses. In Malaysia, the adoption of IBS began in early 1960s when Ministry of Housing and Local Government of Malaysia visited several European countries and evaluated their housing development program (Thanoon et al, 2003). In year 1964, our government had launched 2 pilot projects by using IBS. The first pilot projects with adoption of IBS in Malaysia was constructed on 22.7 acres of land along Jalan Pekeliling which included the construction of 7 blocks of 17 storey flats, and 4 blocks of 4-storey flats comprising about 3,000 units of low cost flats and 40 storey shop lots. The first pilot project was awarded to the Gammon/ Larsen Nielsen by using the Danish System of large panels in a pre-fabricated system. Afterwards, the government of Malaysia had launched the second project, a six block of 17-storey flats and three blocks of 18-storey flats at Jalan Rifle Range. This project was awarded to the Hochtief/ Chee Seng by using the French Estoit System (Din, 1984). A performance of comparison in term of cost, quality and productivity has been carried out between IBS and conventional construction method by referring on the two pilot project launched by our government. From the comparison in term of cost, it invented that the first pilot project was 8.1% higher meanwhile the second pilot project was 2.6% lower than by using conventional system for a similar type of building or project. For productivity or time frame, both projects required 27 months to complete, while include of the time needed to set up the recasting factories. In term of quality, the quality of both pilot projects was discovered well and better than the conventional construction method. From the performance of comparison of both pilot projects, it showed that the rival between the IBS and the conventional construction method. Today in the Malaysia construction industry, complete projects usage of IBS is gradually increasing however ità ¢Ã¢â€š ¬Ã¢â€ž ¢s still slow and not satisfied as forecasting especially in private sector. Although, the Construction Industry Development Board (CIDB) has been actively promoting and encouraging the implementation of IBS since a decade. In year 2003, the Cabinet Minister has approved the IBS Roadmap 2003 to 2010 with one of the key elements is to is to enforce the utilisation of IBS content for 30% for any government building project in 2004 and gradually increasing this to 50% in 2006 and 70% in 2008. Afterwards, The Governments Industrialised Building System (IBS) Roadmap 2011 to 2015 has approved which will replace the IBS Roadmap 2003 to 2010 and this new IBS Roadmap will more pay attention on the adoption of IBS in private sector building project. The main goal of the new IBS Roadmap is to increase the existing usage of IBS content to 50% in the private sector buildi ng project till 2015 in Malaysia construction sector which till now the adoption of IBS content in the private sector is less than 10%. The IBS roadmap 2011 to 2015 also plans to sustain the existing momentum of 70% IBS content for the government building project till 2015. 2.3 Classification of Industrialised Building System Industrialised Building System (IBS) is construction system or technique which components are mass manufactured in factories whether on or off site with well quality control, transported to assembled into structure so that can reducing the site activities. There are five main types or groups indentified and classified by Construction Industry Development Board (CIDB) are used in Malaysia construction industry (CIDB 2003):- Pre-cast concrete framing, panel and box system are the most ordinary type of Industrialised Building System (IBS) among other types in Malaysia construction industry. The elements are columns, walls, beams, floor slabs, 3D elements such as lift chambers, staircases, toilets and balconies, permanent concrete formwork etc. These elements or components are produced or manufactured in factories with well quality control and then transported to site for install or assembly. Steel formwork system are the most popular group which can to be used in various types of design structural and many phase of construction in our industry because of its flexibility and recyclable. Besides that, steel formwork system is easier for used and installation among other groups and offer a high quality finish. It suitable applied in tunnel forms, columns and beam moulding forms and permanent steel formworks. The elements of steel framing system are steel beams and columns, roof trusses and portal frames which normally used together with precast beams, column and floor slabs. In addition, this system is suitable for time effective and skyscraper construction project. Prefabricated timber framing system is normally adopted as timber frames, and roof trusses of a building. This system always has been used extensively in western countries housing developments. Furthermore, it offers a unique and interesting design while the rate of timbers is gradually increasing in nowadays. Nowadays, many of development building projects are used block work system such as interlocking concrete masonry units (CMU) and lightweight concrete blocks. The element of block work systems normally used as bricks in structures and interlocking concrete block pavement. 2.4 Precast Concrete Framing, Panel and Box System 2.4.1 Introduction Precast concrete can defined as elements or components are cured and manufactured in factories or plant environments with high quality control and then transported to site for installation and assembled into structure. The utilisation of precast system in Malaysia construction sector is not new, especially for rapid construction project with high accuracy, productivity and quality such as schools, hospitals, Light Rail Transit (LRT), Mass Rapid Transit (MRT), apartments, drain infrastructures etc. However, the application of precast concrete system still low as forecasting while government was actively promoting it. The industry chooses to use the conventional construction method and ignore the benefits of using precast system. The most common types of precast concrete system structural elements in practice:-

Solar, Hydroelectric, and Wind Power cannot replace Fossil Fuels Essay

Are Solar, Hydroelectric, and Wind Power Conceivable Alternatives to Fossil Fuels in the Future? Abstract: Fossils fuels are diminishing. Other, possibly more environmentally safe, energy sources are needed to replace them. The purpose of this study was to examine closely the three most common renewable energy sources—solar, wind, and hydroelectric power—as a solution to the â€Å"energy problem† of today and possibly the energy crisis of the future. However, solar and wind energy account for a very small percent of the energy used by the U.S. (nearly 2 percent), and the possible technologies being developed to increase their efficiency won’t be able to seal the gap between energy supplied by these renewable energy sources and the energy demanded. These sources will have to act as complements to another more powerful energy source, as they will in fact not be able to replace fossil fuels on their own. One of the most pondered questions in today’s fast-paced society is how long fossil fuels—namely oil, coal and natural gas—are going to last. The increased demand for fossil fuels, and therefore their increased price has worried many Americans into remembering that these fuels are not renewable and will one day run out. For this reason, it is important to consider whether the alternate energy technologies that we possess today can replace fossil fuels when the time comes. My study explores whether solar, hydroelectric, and wind power (alternate forms with very few harmful byproducts) used together can act as substitutes for oil, coal and natural gas. Apart from the ever-increasing price of oil these days, there are more theoretical reasons suggesting a shortage of fossil fuels. One, known as Hubbert’s Theory, p... ...nal Geographic. Retrieved on July 27, 2005 from http://www7.nationalgeographic.com/ngm/0508/feature1/fulltext.html Association for the Study of Oil Peak (May 2003). World Oil Peak. Retrieved on July 28, 2005 from http://planetforlife.com/oilcrisis/oilpeak.html U.S. Department of Energy (2005). U.S. Net Electricity Generation by Energy Source. Retrieved on August 1, 2005 from http://www.eia.doe.gov Skov, Arlie M. (January 2003). World Energy Beyond 2050. Retrieved on July 31, 2005 from http://www.spe.org/spe/jpt/jsp/jspmonthlysection Knier, Gil. (2005). How do Photovoltaics Work? Science @ NASA. Retrieved from August 1, 2005 from http://science.nasa.gov/headlines/y2002/solarcells.htm Zweibel, Ken. (1995). Thin Films: Past, Present, Future. National Renewable Energy Laboratory. Retrieved on July 29, 2005 from http://www.nrel.gov/nepv/documents/thinfilm.html

Chick-Fil-a Market-Oriented Strategy

Case Study: Chick-fil-A â€Å"Eat Mor Chikin† (Except on Sundays) 1. Chick- fil-A is following several market-oriented strategies that differentiate it from its competitors. Looking at page 33, a marketing strategy specifies a target market and a related marketing mix. Its primary target market is more adult and female as it is offering mainly chicken products: â€Å"healthier† alternative to hamburgers. They also advertise using high-quality ingredients. Following this strategy, Chick-fil-A is mainly located in malls and in neighborhoods that have high concentration of its target customers.Chick- fil-A also positions itself as a strong Christian company and closes its stores on Sundays. It creates an emotional connection with local communities by supporting local schools, churches, and organizations. Chick- fil-A also differentiates itself from other fast food restaurants by offering a one of a kind experience by focusing on a strong commitment to customer service, making customers feel like they are in a fancy establishment. It does so thr ough intensive training and customer surveys. It also is targeting small children by offering educational books in its kid’s meal while fulfilling its social responsibility2.The political environment can affect the marketing strategies implemented by Chick-fil-A. Dan Cathy recently said that Chick-fil-A supported the â€Å"biblical definition of the family unit†. While this single statement crystallized its position in the market, rallied its loyalists, and started a national conversation, it did not go so well with Disney, which booted Chick-fil-A off its grounds. I can imagine that it would not go so well in states, which are less religious and more spiritual.3. Chick- fil-A believes in achieving greater quality before expanding, and has so far been mostly located in the South while slowly expanded to other states.While closing on Sunday is a competitive advantage in the South, I don’t believe it would be in States in the North East and out West, where religio n is less prevalent and spiritually more pervasive.4. I don’t think other retailers should consider closing stores on Sunday unless they are primarily located in the South and are planning on staying local. In that case, I would recommend calculating the expected sales and costs over 5 years for each scenario and see which one is more beneficial.

Yousuf Karsh, photographer essays

Yousuf Karsh, photographer essays Youseph Karsh was a world-renowned photographer, famous for his photographs of dignitaries and political figures. Karsh was born in Turkish Armenia in 1908. At the age of 14 he and his family fled to Syria to avoid the genocide being committed in Armenia. At 16 years of age his family sent him to Canada to live with his Uncle who was a portrait photographer. When he was 20 his uncle sent him to Boston to study photography with John Garo, who was considered one of the top ten portrait photographers in America. What was to have been a six-month apprenticeship lasted three years. Karsh was exposed to famous people from the world of music and theatre and he decided that when he branched out on his own he would only photograph those men and women who leave their mark on the world. In 1932 Karsh moved back to Canada and opened his photography studio in Ottawa, there he caught the eye of Canadas Prime Minister, Mackenzie King. King set him up to photograph political figures. In 1941 King arranged for Karsh to photograph Winston Churchill, who was visiting Canada, Churchill had not been notified he was having his portrait made until he was being ushered into the room. Grumbling, he lit a cigar and told Karsh he had exactly two minutes to take his picture. Karsh, knowing he did not have adequate time to get a good photograph, calmly walked over to Churchill, plucked the cigar from his mouth, and saying, forgive me sir, released the shutter. Afterward Churchill told Karsh You can even make a roaring lion stand still to be photographed. Karsh sold this photograph to Life magazine for $100. It has become the most reproduced portrait in American history. Karshs goal when photographing someone was to expose the essential element which has made them great, explaining, All I know is that within every man and woman a secret is hidden, and as a photographer it is my task ...

Faulty Towers The German gue essays

Faulty Towers The German gue essays In The German guests, an episode of The faulty Towers, there are many elements of comedy present. These include the elements of exaggeration, absurdity, triumph, surprise, repetition, correct timing confusion and puns. Mr. Basil s reaction towards the false alarm is a good example of exaggeration. One would certainly not react so vigorously towards an ordinary alarm drill. His repeated ill-tempered reaction towards the inquisitive hotel guests is also an example of exaggeration. The element of absurdity can be found when the major thought the moose head was actually talking to him. This can be classified as absurd because it is impossible that something without life can talk and respond freely to his answers. This is a very important comedic element and the show is very successful in using it. The element of triumph and repetition is present when Mrs. Basil consistently called back to Mr. Basil to check whether the latter has began hanging the moose head on the wall. She triumphs over him because she has managed to instill anxiety and annoyance in Mr. Basil while she rested comfortably on her hospital bed. The audiences erupted into laughter when Mr. Basil discovered that the German guests were able to speak English, with fluency to a particular extent. This is a good example of surprise. In fact, this show is flooded with surprises. It was a surprise for Mr. Basil to find out that the doctor who performs his wifes operation was a black man. This can be accounted the cultural gap that existed in Britain during the time the show was aired. The coincidental ringing of the different alarms is a good example of correct timing. We laugh at this because we would never have expected such things to occur at almost the same time. The element of puns and confusion can be combined together this show. They are inter-related because puns will lead to confusion. These elements centers on the major, who m...

Environmental Problems in Africa Article Example | Topics and Well Written Essays - 500 words

Environmental Problems in Africa - Article Example Africa, specifically the Sub- Saharan states are enriched with natural resources of many kinds, yet it cannot overcome the poverty which its residents have been living in for centuries. According to the World Summit on sustainable Development (WSSD) in Africa in 2002 as mentioned in an article posted www.articlebase.com on 27 October, 2006, Africa is currently facing lack of fresh water, barren lands, deforestation, which has led to extinction of different species of birds and animals. The trade of oil through sea has resulted in water-pollution. Similarly the waste from industries is disposed off in water, which has ruined the life of different species of fish and marine-life. Trees cut to light fire for cooking and other purposes have led to deforestation. Poverty generates pollution which in turn generates poverty. This constant cycle has come into being as a result of development of factories and industries all over the world which has opened employment opportunities for those working in rural areas. Because of more and more mobility and networking among the people, there has been an increase in the need of all sorts of vehicles which consume oil to function. Oil is the basic source of income for many countries. But in the course of exploration of oil, much harm is caused to the environment. Though USA has taken some initiatives to eradicate poverty from Africa. It was mentioned in the same article as mentioned before that USA had planned to grant 4.5 billion $ to Africa over the course of next three years to launch an anti-HIV program and improve access to fresh and clean water for the Africans. These days, everybody is worried about the consequences of the destroyed natural environment which has caused a fundamental change in the social environment. Increase in pollution has made human beings take some steps to protect themselves against the evils of pollution. This has resulted in increased use of face-masks, bottled water

Human Resource Management Essay Example | Topics and Well Written Essays - 250 words - 1

Human Resource Management - Essay Example Each management position has its inherent rights that are acquired from a specific post. Managements are distinguished between line authority and staff authority. In line authority there is an employee-employer relationship. Where a manager deals with his subordinates and directs their work and make suitable decisions as required. The line manager has the right to issue orders whereas, staff managers advice assist and reduce some of the informational burdens. They have an advisory relationship and cannot issue order down the chain of command. Staff managers usually run those departments that are supportive such as quality control, HRM, purchasing. Whereas line managers have departments which require proper management skills and directions for smooth running of sales or production. The difference among them is the nature of the relationship like line manager can order the subordinate whereas staff manager can advice the line managers to achieve their goals. Human resource department have staff managers although line managers also have some of human resource duties as placement, orientation, training, improving job performances etc. Human resource manager works in staff capacity. They manage human resources to help organization achieve its goal by determining company’s work force and help firm’s mission In the past, capital was considered indispensible for a developing industry but with time this concept has evolved and replaced by an enthusiastic and efficient labor or work force because no major project backed by competitive employees with efficient management is hindered by shortage of

Health Care Delivery System Case Study Example | Topics and Well Written Essays - 500 words

Health Care Delivery System - Case Study Example First of all, the requirement for high quality care, doubled by the social responsibility to patients, is counterbalanced by an increasing pressure to lower costs and to remain afloat financially. The Canadian model, on the other hand, is designed as public service, with health care provided considering medical needs first, and the ability to pay later. This, however, leads to high health costs supported by the government and to a lower quality and efficiency of services. The present paper will compare and contrast the two systems at four different levels: access, cost, quality and continuity. As far as access is concerned, there are fundamental differences between the two models. The health care system in Canada is characterized by universal access, with all residents being entitled to insured health services. In the US, by contrast, access is determined by the extent and type of the coverage, with no universal pubic health insurance plan (Madore, 1992). The two completely different approaches lead to major differences in coverage: whereas in Canada everybody benefits from the public health insurance, in the United States more than 10% of the population isn't covered at all. In the matter of costs, both countries allocate significant proportions of their income to health care.

Exploring South Africa Culture Essay Example for Free

Exploring South Africa Culture Essay There are many countries that display various types and forms of communication, especially in some countries of Africa. One of the most toured and â€Å"rainbow† diverse country in Africa is apparently South Africa. Even though most of the country is predominantly black, it is also known to be one of the most multicultural countries in the world. In fact, there are many different ethnic groups that make up the countries’ population in urban areas. Also, it explain black people of South Africa colonialism and immigration have brought in white Europeans, Indians, Indo-Malays, Chinese and many more. The best the thing to do is describe some of South African culture, customs, manners, etiquette, values in order to understand the people better. You may be going to South Africa on business, for a visit or even hosting South African colleagues or clients in your own country. Remember, this is only a very basic prologue and is not meant to stereotype all South Africans you may meet! South Africa can be described as a social community that has a various types of communicational style, depending on the ethnic group or maybe the area At the same time they value human politeness over materialism. People living in the city live their life in the fast lane, which affects their outlook. People from the city Johannesburg can quite often be regarded as having materialistic values, and being more concerned in what you own rather than who you are in general. They prefer to see themselves as urbane and their country cousins as less sophisticated. However, in rural areas family ties, long-term friendships and social standing are all important to South Africans. The many rural black communities and villages are still rooted in the traditions of their heritage, whereas the increasingly urban black community combines their roots with the urban environment and international influences that surround them. In order to be accepted by the majority of South African culture, you must first understand their customs. South Africans are openly expressive when it comes to their customs. In fact, some of the countries customs are related to the United States in a way. For instance, the United States and South African share similar greetings, the English language and attires. When trying to get to know someone, South Africans, regardless of ethnicity, prefer meeting and greeting someone face to face instead of impersonal communication like email, letter, or telephone. Greetings are unhurried and can include time for social conversations and the exchanging of them too. â€Å"Currently, there are several greeting styles in South Africa, depending upon the ethnic heritage of the person you are visiting. When dealing with foreigners, most South Africans shake hands while maintaining eye contact and smiling† (Kwintessential 2004). Some women of South Africa don’t like to shake hands, usually they will merely nod their head, so it is best to wait for a woman to extend her hand first. Men can also kiss a woman they know well on the cheek in place of a handshake; something like France. Gender can also play a role in communication in some parts of South Africa. Traditionally, South African women have held second-class status to men. African social structures are centered on men, leaving women powerless (Martinez,1). Basically this called â€Å"Patriarchal†. This is mainly the belief of social communities throughout the entire racial and ethnic population of South Africa. Women roles is to cook and be the caregivers instead the household providers. Sometimes there are women in South Africa who have to follow their husband around or cannot go anywhere without them. Some continue to follow their traditional values; mostly are tribes and those living in villages. Sadly, Patriarchal societies remain prevalent today in South Africa. Another form of the South African culture would be celebrations. There’s one event that is celebrated in the South Africa called the â€Å"Rainbow† Cuisine (Hill, 1). The Rainbow Cuisine is meaningful and traditional to the country. It brings all ethnicity and culture together by using music, dance, cultural food and turning it into a big festival; something like Mardi Gras and the Super Bowl put together but bigger. In general, South Africans give gifts for birthdays and Christmas like Americans. However, South Africans only celebrate two main birthdays 21 and 40 while Americans celebrate 16, 18, 21, and 50. â€Å"Most South African’s birthdays are often celebrated with a large party in which a lavish gift is given† (Kwintessential 2004). It is common for several friends to contribute to this gift to help defray the cost. If you are invited to a South Africans home, bring flowers, good quality chocolates, or a bottle of good South African wine to the hostess (Kwintessential 2004). Wrapping a gift nicely shows extra effort. Gifts are opened when received. Just like the United States when you are invited to a South Africans household. A person must always arrive on time if invited to dinner. It’s considered very rude to show up late or don’t even show up to an invited dinner. Contact the hostess ahead of time to see if she would like you to bring a dish. Every guest have to be in casual wear or at least look presentable for other guest who are also invited and for the host as well. There are some ways to be appreciative of your host’s invite and that’s to offer to help the hostess with the preparation or clearing up after a meal is served. Most South Africans feel well respected when someone show kindness towards them and their family, especially over their food. Gentlemen can also get away with wearing jeans or shorts at a dinner, but they have to be pressed and not wrinkly. So before arriving to the dinner it is always a good idea to check with the hosts in advance. In the urban areas of South Africa, the casual is dressier than in other parts of the country so a person shouldn’t wear jeans or shorts unless you have spoken to the hosts. Now, there is some comparison with South Africa and the United States on some issues. One would be is how South Africa and the United States are conducting business ties with each other. Apparently, South Africans want to maintain agreeable working protocol relationships, so they shun confrontations. It is said that being imperative can help to develop mutual trust before negotiating with someone in business. Another rule in company’s or business negotiating it to never interrupt a South African while they are speaking. Interrupting can cause a huge fail between the buyer and seller, more over it can mess up business. South Africans strive for consensus and win-win situations. South Africans do not like bargaining over price, they believe in final decision- making. â€Å"Decision-making may be concentrated at the top of the company and decisions are often made after consultation with subordinates, so the process can be slow and protracted† (U. S. Library of Congress). However, in South Africa women today still have yet to attain advanced professional positions. If you send a woman, she must expect to encounter some condescending behavior and to be tested in ways that a male colleague would not. Women might have equal rights as men, however they are still treated unequally in higher business positions that’s ran mostly by men, like in the United States. South Africa and the United States are practicing friendlier connections in many areas. â€Å"More than 500 United States companies have more than US$5 billion in direct investments in South Africa in the mid-1990s, and trade between the two countries is increasing steadily† (U. S. Library of Congress). Despite the alleged disagreements in government between the two countries, they both learned to communicate and cooperate with each other by coming to verbal agreements on how business should be ran. South Africa can be an overall great experience for any tourist. Their culture can be easily understood by any ethnicity around the world. Hopefully South Africans will continue to expand traditions, culture, values, customs, and etiquettes in their country, despite diversity. The â€Å"Rainbow† nation will continue to shine their colors and will always be equally match to other countries, even the United States.

Internet bank failures :: essays research papers

Product failures happen more often than many people would think. The failure can result from many elements of a products campaign such as the introduction to a stale market, missing the target through improper ad campaigns, and most importantly, not modifying a products concept to appeal to a foreign market. Web banks, also known as internet-based banks, are one such example where the success that originated in the United States was not transferred to Europe. Instead, failure occurred because of three main reasons: the money plant, the lack of access points, internet fraud, and lack of unity among neighboring countries. Banking in Europe before the introduction of web banks was very basic. People were drawn to the personal attention they received from the customer service staff, the multiple access points such as ATM’s and local branches, and the ability to use new technology such as the internet to check balances and transfer funds. The banking structure was very similar across borders of countries and was what people were used to since the evolution of banking. People trusted their banks and showed a great deal of brand loyalty, an important factor that was overlooked when introducing web banks in Europe. Web Banks very quickly turned into a large failure for many companies across Europe. The initial concept of web banks was that they would provide many services to you in the comfort of your own home, often at far lower rates than traditional banks. While many traditional banks such as Vontobel Holding AG have many requirements to hold accounts with them such as a minimum balance charge and low interest rates, web banks main concept was to offer banking for free with no balance requirements, multiple loan opportunities, and the tracking of many separate accounts under one umbrella. Realization soon came that most banks were built on the personal customer service that it provided and the money that kept the bank afloat was the money earned off loan interest and account charges. This left many bankers in Europe to second guess the new web banks. "It would have been hard for us to establish full relationships with new customers, and we couldn't really see where the revenue was going to come from." With no solid revenue stream and no personal attention, a cornerstone for banking success, it is any wonder that the proposed web banks even were invested in.