Cash flow Coursework Example | Topics and Well Written Essays - 1000 words

Cash flow - Coursework Example From the above hypothetical cash flow, we can see that the cash from operation $2837 million and net profit is $124 million. There is a difference between the cash generated from operating activities and net profit. It is because cash from operations includes capital expenditure, income from sales of plants, equipment and property and cash acquisitions but when we compute net profits then we deduct all the expenditures from the sales revenue. Thus the net profit and cash from operations may not always be equal. A company can earn net profit but it may earn negative cash from operations which indicate the company actually has no cash in its hand. Cash flow from operating activities can be done by using either direct method or indirect method. These methods are different from each other. In the direct method information about main elements of gross cash payments and gross cash receipts is shown as separate and the information about the receipts and payments can be gathered either from records of accounts or by adjusting the cost of sales, sales and other elements in the income statement. But on the other side in case of indirect method, profit and loss is adjusted on elements which are related to financing and investing activities and effects of noncash transactions like changes in receivables, payables, inventory, provisions, depreciation, amortisation, gains and losses in foreign currency and differed tax liabilities are also adjusted for the items (Thornton, 2012, p.15).

Strategic Analysis Essay Example | Topics and Well Written Essays - 1750 words

Strategic Analysis - Essay Example In the modern scenario, to maintain sustainability in the global market, every organisation tends to form a basic company objective, vision as well as mission. Organisational culture has certainly created the need of following certain principles for attaining predetermined targets. These principles often help the employees to reap varied significant benefits like improved level of operational performance of the personnel. By taking into concern the present business market conditions, it can be affirmed that two vital factors including organisational culture and leadership are deemed to be quite important for any company that can assist in fulfilling desired objectives. A correct form of organisational culture and varied leadership practices may contribute in securing the future of the companies by a considerable extent (Wilson, 2005). Harley-Davidson (H-D) is a renowned American based business corporation, which deals with manufacturing motorcycles. It is regarded as one the oldest brands as a motorcycle manufacturer. It can be apparently observed that the company has strived to maintain organisational culture for fulfilling its desired targets. One of the main objectives of H-D is identified to offer quality products at a promised value. From the preceding few years, the company focused on changing its product design to gain more customer attention. In its long journey, H-D faced numerous difficulties in terms of finance. This can be justified with reference to the fact that the company experienced tremendous fall in market share due to the reason of having certain problems with one of its Japanese manufacturer. By taking into concern the trend of organizational culture prevailing within H-D, it can be ascertained that the company has produced new models with the increased level of improved operational performan ce of its employees. In the year 2003, H-D faced the challenge of severe decline in product demand, due to which, its share price

Lennie is mourning the death of his puppy Essay Example for Free

Lennie is mourning the death of his puppy Essay At the beginning of the extract, Lennie is mourning the death of his puppy by his own hand when Curleys wife enters the barn and attempts to comfort him and she allows Lennie to stroke her hair. When Lennies big fingers fell to stroking her hair we see that something is going to happen as the mood changes and the tension is heightened. We have an inclination to what is about to happen as we have seen the inevitability of the scenario with Lennies strength and Curleys wifes desire for affection and attention. When Curleys wife tells Lennie not to muss it up, Lennie strokes harder, as he is overcome with the pleasure of the experience, this shows that Lennie doesnt listen to anyone except from George, thus reinforcing what we already know. Curleys wife says you stop it now and jerks her head sideways and Lennie then panics and automatically his fingers close on her hair and hung on, this is because it is the only thing he can think to do, this emphasises his child-like mentality as his reaction is physical as opposed to psychological. Lennie was in a panic and his face was contorted, these two short simple sentences portray the innocence and naivety of Lennies actions as well as reflecting the way Lennies mind works, short and simple. He begs Curleys wife to stop screaming because Georgell be mad and aint gonna let him tend no rabbits showing that he has a one-track mind, much like a child. Lennie then gets angry and tells Curleys wife I dont want you to yell, this again shows his child-like mindset and his anger leads him to shake her. So hes shaking her, not in an aggressive manner, but to protect his part in the dream, her body flopped like a fish and she was still, for Lennie had broken her neck. At this point we see Lennie, not just kill Curleys wife, but kill the dream too. Lennie does not realise he has killed her as he continues to speak to her, he lifts her arm and lets it drop and is, for a moment, bewildered. His mind cant capacitate why she is not responding, all he thinks he did was shake her, showing just how unaware he is of his own strength. Animal imagery is used to describe how Lennie pawed up the hay until it party covered her, this connotes Lennies clumsiness and density. In the concluding paragraph of the extract we see Lennie become conscious of the outside for the first time, he recalls what George told him to do if he gets into trouble and goes to hide in the brush, taking the dead puppy with him to throw it away because its bad enough like it is. Here we see Lennie make a decision himself, be it the right one or not, he seems to have matured slightly because of the situation at hand and this event could be something that changes Lennies childish behaviour. Throughout the death of Curleys wife, we still feel more sympathy for Lennie, because he is so unaware of the danger his actions can cause and he is still a naive and innocent character, despite the unintentional harm he has brought to many things. Show preview only The above preview is unformatted text This student written piece of work is one of many that can be found in our GCSE John Steinbeck section.

Nursing Reflection | Inequalities in Health Case Study

Nursing Reflection | Inequalities in Health Case Study Introduction Reflection is a process in which we go over the events that we have been through and think over what happened, what we have done, and what we could have done better if we had to find ourselves once again in that situation. Reflection can happen either as we are going through something, or afterwards when we stop and reflect. Reflection helps us to gain insight as to why we act the way that we do and so help us to understand better how we behave in certain circumstances. Reflection is a dynamic method whereby a specialised person can gain awareness and achieve an understanding of how shared, social and individual experiences have contributed to professional training and knowledge (Wilkinson, 1996). ‘We can regard it as having three elements: return to experience, attending to feelings and re-evaluation of experience’, (Boud 2001)., Reflection is a way of developing practical knowledge and students can start using reflection as their knowledge of nursing mounts up. There a re two focal points of significance: unawareness and socio-political significance (Heath, 1998). Knowing is a self-motivated process and a product of individual thinking and changes as the person survives and interrelates in the world. Its qualifications are knowledge, cognizance and reflection. The results are to understand the behaviour and making sense and altering the behaviour, (Bonis, 2009). Reflection is being wary of what you do and say, either when you are experiencing something or afterwards, like when the person is looking through a window and sees himself within the perspective of a specific experience in order to challenge, comprehend and try to solve conflicts amid his own idea of what is right and what he actually practices, (Johns, 2005). Account Whilst on one of my placements at the Commcare I was asked to accompany one of the staff to the multiple daily assessment visits that they do. Commcare is an assessment unit which delivers support to the community by assessing individual needs and then acting accordingly, while at the same time providing assistance and care plans for the individual needs. Assessment is done to calculate the essential needs, to develop care plans, watch for timely improvement, and design delivery of the needed services,(Gamble and Brennan, 2006). Commcare’s aim is help the individual maintain his or her freedom while still living in the comfort of own homes. Individuals are referred to other services if needed. Persons can also be referred to the Malta Memorial District Nursing Association, (M.M.D.N.A.), which is a non-paying organisation, offering nursing and midwifery services. Commcare also provides the services of a physiotherapist, social worker, an occupational therapist and carers. ‘The precise organization and content of health services will differ from one country to another, but in any well-functioning health system, t he network of service delivery should have the following characteristics: comprehensiveness, accessibility, continuity, people-centeredness, coordination, accountability and efficiency’ ,(Global Health Observatory,2014) . After visiting some clients who needed some sort of service or other, we visited the last client on the list for the morning. When we rang the door-bell, a lady, who looked like she was in her early sixties, opened the door for us. As soon as we stepped in we could tell that this was an educated family. The house smelled clean and the occupants looked educated. This could be seen by the way that the house was kept, by their verbal communication and through their body language. Non-verbal and verbal hints are smart signals for transmitting and getting information, (Galloway, 1968). A slightly elderly gentleman joined the lady, and since both of them looked healthy and both were over sixties, I was wondering why we were actually there. Both of them asked us to go up the stairs and then we were guided into another clean room where there was this very old gentleman, with oxygen nasal prongs and sitting in a comfortable chair. The room seemed well equipped to the needs of the patient and some structural to build a small bathroom in his bedroom. The nurse started to ask who was everyone and we found out that whilst the elderly gentleman was the father, the other two were his non-married children and that all lived in the same house. The son, who was a priest, was mostly out of the house especially during the day while the daughter took care of the house and her father. However she was finding it difficult to leave the house even to go shopping since her father had returned from hospital and he needed some supervision and so she could not leave him alone. The father, who was quiet a tall gentleman and who was 92 years old, wished to bathe instead of showering . However he needed some assistance to wash the lower part of his body especially his feet and he would not allow his daughter to bathe him. The nurse was interviewing the daughter regarding her father’s needs and the dad interrupted the nurse to tell him that he must be included in the conversation. I smi led silently to myself as I could see that he meant what he said. The nurse nodded and started to address the gentleman as well but somehow once again he ended up addressing the daughter. The gentleman stood on his feet and cleared his voice with all the highest pitch that he could muster told that nurse that he was still here, on this world and since it was him that they were talking about, he wanted to know what they were saying and to be included in the conversation. The opinions and observations of those that we take care of are necessary to allow us to carry out care compassionately, with pride and respect, (Hemmingway, 2012). This home visit highly contrasted with a home to which we had been a few minutes before. The first thing that I noticed when the door was opened was the musty smell that came out and all that I saw at the time were a pair of very dirty shoeless feet even though the weather was very cold. The man who stood before us looked very old and he was by himself. His home was extremely dirty and poor-looking and I felt that I needed to get out as soon as possible. Conditions in which people live effect a person’s chance to be healthy and jeopardize their life expectancy, (World Health Organisation,2014). When the nurse started interviewing this client they found that he had no-one to help him, had no income and he had a multitude of health issues. Deprived people have more risk of developing disease due to their lower socio-economic status, (WHO, 2011). The man was only sixty-six years old and had been jobless his entire life. Although money was a problem he had been smoking and the nur se did ask him why did he spent the little money that he had on cigarettes and not use them to get food. But going through the only room which he occupied was a picture of him when he was much younger. In this picture he was smoking. People develop coping mechanisms to deal with problems and although this was not a good method to deal with his problems, and he had to be discouraged from using cigarettes, I felt that this issue could be handled later, after his more basic needs were met. Feelings and Thoughts The first thing that came to my mind when we visited this house was the difference in social class that exists on our island. Inequalities in health are not only connected to accessibility to health care services; there are other determining factors linked to the conditions in which we work and live (Whitehead et al., 2014). Barely twenty minutes before had we been to another house just a few minutes away, and the difference was tremendous. I could not help the feeling of the great injustices around us. Here was this educated, well dressed gentleman, warm in his house, being well cared for and looked after, while in the other house, the gentleman lived by himself, alone and dirty, with nothing in the house to eat except a piece of a stale loaf and some dried up tomato paste. Unconsciously I was comparing the gentlemen’s houses and way of living. The first house that we had visited was dirty, had no furniture except a bed in a corner and some very spare items, whilst the second house was very well attended to. I could never have imagined that there was so much difference in the way people lived. I was not blaming anyone but I did think about the inequities in health and social detriments I loved the way that the gentleman kept interrupting the conversation. He was very assertive in the way that he said that he had to be involved in the decisions which were being taken regarding his issues. It is true, some of us, me included, sometimes tend to decide about someone’s well-being without including and taking the opinion of the person about whom we are talking. Although the gentleman was very old, he was still very lucid and aware of what was going on and I felt that we were somehow taking away his dignity because we were treating him as if he was not there and we were taking decisions for him until he stopped us. It is by being conscious of individual actions that the health care professional may change his views and actions to develop more corrective measures in the nurse/client therapeutic relationship, (Maude,2012). Both of his children cared for him in their family home. The son spent a lot of time out of home, but the daughter spent all the time at home with her father and did not seem to have any time for herself. She was also not very young and seemed like she could profit from some help. Her father did seem a little demanding and I thought that she needed a break from her routine. I was glad to note that Commcare could offer the services of a carer for a few hours per week, an offer which she gladly agreed to. Something which I admire in the service is that it looks holistically at the needs of the person and the situation as a whole. Whoever goes to assess the individuals does this with an open mind and help is offered holistically. Holistic needs assessment is a procedure of collecting data from the patients and carer to discuss and improve the client’s requirements and ideals with the person as a whole by ‘integrating their physical, emotional, spiritual, social, and environmental well-being’, (National Cancer Survivorship Initiative,2011). Help is offered at all levels and I was impressed by the way that they follow their clients to see that they are getting what they need. ANALYSES During these placements I noted that most people do not know about the services that are provided and even if they know about them, they do not know how to access them. Maybe the local councils can help in this area by providing lists and telephone numbers to a number of government and non-government services and agencies that are available. Another thing that I noted is that we do our best to see that if possible care is provided in the homes and that is a very good thing, however we do not seem to offer a lot of support for those people who care for their elderly. Emotional illness affects both the way that carers provide the care as well as their private lives. Two of the most common disorders of the carers are anxiety and exhaustion, (Penson et al., 2000). I think that even in this area, local councils can help. They can create groups of local volunteers who could offer their services for a few hours to these people who in return would be able to take care of themselves for a few hours. These placements have reinforced my beliefs that being is nurse is not just helping with the medical and nursing advice. Assessing the patients in their own environment is also important if we are to treat the patients holistically. We are the patients advocate and as that we have to make sure that the treatment that they are getting is adequate. It is also essential to be empathic and supportive. Sometimes we need to put ourselves in that patient’s shoes or maybe ask the question ‘How would I treat this patient if she or he were my mum or dad?’ Practising empathy helps us feel stronger and less stressed because we will understand that we are somehow connected, (Dinkins, 2011). Going through some sites to research for this assignment, I came through an article which really had an impact on me. The article by Rhonda Nay,(2013), is about how our modern civilization has put apart our senior citizens and how this is our problem and that we should value senior citizens ‘and make care of older people and people with dementia an issue of high importance’. Most times we tend to think that old people cannot think for themselves, that they are no longer useful to the community. While it is true that they might not be as agile as they once were, it is also true that they can still contribute to society. ‘ The economic and social contribution offered by older people – in employment, volunteering, or caring for partners, children and other family members– is rarely acknowledged’, (Commission on Dignity in Care for Older People, 2012). Working with helpless people has helped me to improve my skills in handling delicate issues. They have helped me become aware of certain problems which I had not been aware of before, like poverty and like how important it is to look at the clients in a holistic way and without any prejudice. In other words, both the staff and the clients have helped me comprehend the concept of holistic care and the importance of looking at a client’s lifestyle as well as his history and not just focus on his medical condition. We are there to see past the illnesses and we are there to teach patients on how to adopt better lifestyle choices which can positively affect their health. I am sure that having more insight will help me to continue to offer the best service to our clients. References A. (Eds.) Promoting Journal Writing in Adult Education. New Directions in Adult and Continuing Education No. 90. San Francisco: Jossey-Bass, 9-18. Bonis, S. (2009). Knowing in nursing: a concept analysis. Journal of Advanced Nursing, 65(6), 1328-1341. doi:10.1111/j.1365-2648.2008.04951.x Boud, D. (2001). Using journal writing to enhance reflective practice. In English, L. M. and Gillen, M. Charles Galloway, C., (1968), Theory into Practice, Vol. 7, No. 5, Workshop in the Analysis of Teaching), pp. 172-175, Published by: Taylor Francis, Ltd. Article Stable URL: http://www.jstor.org.ejournals.um.edu.mt/stable/1475983 Commission on Dignity in Care for Older People, pg 6, http://www.ageuk.org.uk/Global/Delivering Dignity Report.pdf?dtrk=true Dinkins, C. (May 10, 2011) Ethics: Beyond Patient Care: Practicing Empathy in the Workplace OJIN: The Online Journal of Issues in Nursing Vol. 16 No. 2. Gamble and Brennan, 2006, Working with serious Mental illness. Global Health Observatory, 2014, Service Delivery, http://www.who.int/gho/service_delivery/en/ Heath, H. (1998). Reflection and patterns of knowing in nursing. Journal Of Advanced Nursing, 27(5), 1054-1059. doi:10.1046/j.1365-2648.1998.00593.x Hemingway,A., (2012), â€Å"Humanity, respect and dignity are the foundations of practice, www.nursingtimes.net / Vol 108 No 40 / nursing times ,Pg 11 Johns,C., Transforming Nursing Through Reà ¯Ã‚ ¬Ã¢â‚¬Å¡ective Practice; Chapter 1., Expanding the Gates of Perception, Pg 2. Maude,P., (2012), Utilising Reflective Practice Journals to Explore Student Fears and Feelings during Psychiatric Nursing Clinical Placement, International Journal of Modern Education Forum (IJMEF) Volume 1 Issue 1,August 2012, Pg 21 National Cancer Action Team, London: NCAT; 2011. Holistic needs assessment for people with cancer: a practical guide for healthcare professionals, http://www.ncsi.org.uk/wp-content/uploads/The_holistic_needs_assessment_for_people_with_cancer_A_practical_Guide_NCAT.pdf nals. Nay,R., (2012), An age-old problem: society fails to truly embrace its seniors., http://theconversation.com/an-age-old-problem-society-fails-to-truly-embrace-its-seniors-16299 Nonverbal Communication Penson, R.T., Dignan,F.L., Canellos,g.p., Picard, C.L., Lynch,T.J., Burnout: Caring for the Caregivers , The Oncologist 2000; 5:425-434 Whitehead, Povall, S., Loring, B., WHO, (2014), The equity action spectrum: taking a comprehensive approach; Guidance for addressing inequities in health, Pg 3, http://www.euro.who.int/__data/assets/pdf_file/0005/247631/equity-action-090514.pdf?ua=1 World Health Organisation, 2004, Social Detriments, http://www.euro.who.int/en/health-topics/health-determinants/social-determinants/social-determinants World Health Organisation, 2011, 10 facts on health inequities and their causes, http://www.who.int/features/factfiles/health_inequities/en/

Al Capone And Organized Crime In The 1920s Essay -- Al Capone Essay

Al Capone ran many illegal businesses including bootlegging, gambling, prostitution, and murders. There were many gangs in the world of organized crime and Al Capone’s was at the top. Al Capone was the most infamous gangster in the 1920’s.   Ã‚  Ã‚  Ã‚  Ã‚  Being a highly know and revered gangster was a big business. Money was made fast and very easily. Bootlegging alcohol was by far the most profitable in the 1920’s; this was because of the prohibition of alcohol. Gambling was another business that paid off; stations sanctioned for gambling were set up all over cities. Prostitution and murders were also crimes that made gangsters quick and easy money.   Ã‚  Ã‚  Ã‚  Ã‚  Alphonse Capone was the biggest force in organized crime. He started his career of crime in Boston as an apprentice to Johnny Torrio. There he earned the unforgettable nickname â€Å"Scarface.† It was in a bar when Capone made some rude comments about a woman. Minutes later, the woman’s brother sliced Capone in the face. This man was a friend of Charles â€Å"Lucky† Luciano. Al Capone was punished and forced to apologize. Al Capone did not become a leader until he went to Chicago. At the time he was still an apprentice to Johnny Torrio. In the middle of the gang violence and bootlegging was Chicago, the government was very weak which made it easier to do crime. Capone entered the city of Chicago in 1920. At the time, â€Å"Big Jim† Colosimo ran things. He made about $50,000 a month. Torrio and Capone started their business with four gambling joints/whore houses in Chicago. These underground places were known as deuces. In Chicago Capone met a man who would be his friend for life, Jack Guzik. Guzik and his family lived off prostitution. After Guzik was roughed up by gangster Joe Howard Capone let his temper flare. It did not his cause when Howard called Capone some foul names. Soon after the verbal altercation Capone shot him in cold blood. There was no conviction and it was becoming more and more clear that Capone was becoming extremely powerful. He obviously had connections in the law to not be convicted.   Ã‚  Ã‚  Ã‚  Ã‚  Al Capone finally got a taste of leadership after a few years of partnership with Torrio. Torrio left Capone in control of their areas to take his sick mother back to Italy. Capone was at the top of a Chicago suburb known as Cicero. At the ag... ... of his guys were said to be located, The team was dressed in police uniforms and armed with machine guns and sawed off shotguns. They shot down 7 of Moran's men but Moran was never there. The police and all the people of Chicago all knew Capone ordered the murders. But with no evidence, Capone could not be arrested. It was known as the St. Valentines Day Massacre and became the most publicity any gang event had ever received.   Ã‚  Ã‚  Ã‚  Ã‚  No other single gangster could be as infamous as Al Capone. Al Capone was the most powerful gangster to ever live. No one could stop his reign of crime, and anyone that got in his way, he would take out, even when it came to his friends. He was never convicted for any of the hundreds of crimes he committed; this is one of the most important facts that showed how many connections Capone had. It was until the 1930’s when Capone was convicted of tax invasion when he did his first jail sentence. He was transferred though many jails across America until he finally landed in Alcatraz. While serving his jail time Alphonse Capone became a victim of the deadly disease Syphilis. Al Capone died but his crime legacy will always live on. Al Capone And Organized Crime In The 1920s Essay -- Al Capone Essay Al Capone ran many illegal businesses including bootlegging, gambling, prostitution, and murders. There were many gangs in the world of organized crime and Al Capone’s was at the top. Al Capone was the most infamous gangster in the 1920’s.   Ã‚  Ã‚  Ã‚  Ã‚  Being a highly know and revered gangster was a big business. Money was made fast and very easily. Bootlegging alcohol was by far the most profitable in the 1920’s; this was because of the prohibition of alcohol. Gambling was another business that paid off; stations sanctioned for gambling were set up all over cities. Prostitution and murders were also crimes that made gangsters quick and easy money.   Ã‚  Ã‚  Ã‚  Ã‚  Alphonse Capone was the biggest force in organized crime. He started his career of crime in Boston as an apprentice to Johnny Torrio. There he earned the unforgettable nickname â€Å"Scarface.† It was in a bar when Capone made some rude comments about a woman. Minutes later, the woman’s brother sliced Capone in the face. This man was a friend of Charles â€Å"Lucky† Luciano. Al Capone was punished and forced to apologize. Al Capone did not become a leader until he went to Chicago. At the time he was still an apprentice to Johnny Torrio. In the middle of the gang violence and bootlegging was Chicago, the government was very weak which made it easier to do crime. Capone entered the city of Chicago in 1920. At the time, â€Å"Big Jim† Colosimo ran things. He made about $50,000 a month. Torrio and Capone started their business with four gambling joints/whore houses in Chicago. These underground places were known as deuces. In Chicago Capone met a man who would be his friend for life, Jack Guzik. Guzik and his family lived off prostitution. After Guzik was roughed up by gangster Joe Howard Capone let his temper flare. It did not his cause when Howard called Capone some foul names. Soon after the verbal altercation Capone shot him in cold blood. There was no conviction and it was becoming more and more clear that Capone was becoming extremely powerful. He obviously had connections in the law to not be convicted.   Ã‚  Ã‚  Ã‚  Ã‚  Al Capone finally got a taste of leadership after a few years of partnership with Torrio. Torrio left Capone in control of their areas to take his sick mother back to Italy. Capone was at the top of a Chicago suburb known as Cicero. At the ag... ... of his guys were said to be located, The team was dressed in police uniforms and armed with machine guns and sawed off shotguns. They shot down 7 of Moran's men but Moran was never there. The police and all the people of Chicago all knew Capone ordered the murders. But with no evidence, Capone could not be arrested. It was known as the St. Valentines Day Massacre and became the most publicity any gang event had ever received.   Ã‚  Ã‚  Ã‚  Ã‚  No other single gangster could be as infamous as Al Capone. Al Capone was the most powerful gangster to ever live. No one could stop his reign of crime, and anyone that got in his way, he would take out, even when it came to his friends. He was never convicted for any of the hundreds of crimes he committed; this is one of the most important facts that showed how many connections Capone had. It was until the 1930’s when Capone was convicted of tax invasion when he did his first jail sentence. He was transferred though many jails across America until he finally landed in Alcatraz. While serving his jail time Alphonse Capone became a victim of the deadly disease Syphilis. Al Capone died but his crime legacy will always live on.

Game Theory (strategic Thinking In Everyday Life) :: essays research papers

Game Theory (Strategic Thinking in Everyday Life) Have you ever been faced with having to live with a decision you made knowing that had you taken the time to analyze the outcomes you may have made a more intelligible choice? Most likely the answer to that question was "yes". After all that is more - or - less is what life is about, a series of choices and the outcomes we are faced to live with as a result of our decisions. Well your probably asking yourself "What does this obvious statement have to do with me?". I'll begin by telling you it has everything to do with you and everything to do with any situation you may confront from this day forward. After - all life is but a game and it is our goal to win. The fundamentals of the "Game Theory will provide us with the basic tools we need to succeed at this game. What is Game Theory? Simply put, it is the study of rational behavior in situations requiring interdependence. Wow! That seems like a pretty heavy statement. Actually it is pretty straight - forward. What is meant by "rational behavior or interdependance?" Rational behavior in game theory is the assumption that moral critique aside, the players in the game will act in a way which provides them with the greatest benefits.. Interdependence is the idea that what one player does will directly affect the other and vice -versa. By players I am talking about any two interdependant variables, whether they be people, countries, animals etc. Game theorist take apart a situation involving two players and systematically analyze their objectives and their potential outcomes. In doing so they are able to create models which replicate the basic motives each player has and diagram the outcomes.. Game theory is something that to some extent all of us have experience in. Game Theory (strategic Thinking In Everyday Life) :: essays research papers Game Theory (Strategic Thinking in Everyday Life) Have you ever been faced with having to live with a decision you made knowing that had you taken the time to analyze the outcomes you may have made a more intelligible choice? Most likely the answer to that question was "yes". After all that is more - or - less is what life is about, a series of choices and the outcomes we are faced to live with as a result of our decisions. Well your probably asking yourself "What does this obvious statement have to do with me?". I'll begin by telling you it has everything to do with you and everything to do with any situation you may confront from this day forward. After - all life is but a game and it is our goal to win. The fundamentals of the "Game Theory will provide us with the basic tools we need to succeed at this game. What is Game Theory? Simply put, it is the study of rational behavior in situations requiring interdependence. Wow! That seems like a pretty heavy statement. Actually it is pretty straight - forward. What is meant by "rational behavior or interdependance?" Rational behavior in game theory is the assumption that moral critique aside, the players in the game will act in a way which provides them with the greatest benefits.. Interdependence is the idea that what one player does will directly affect the other and vice -versa. By players I am talking about any two interdependant variables, whether they be people, countries, animals etc. Game theorist take apart a situation involving two players and systematically analyze their objectives and their potential outcomes. In doing so they are able to create models which replicate the basic motives each player has and diagram the outcomes.. Game theory is something that to some extent all of us have experience in.

Audit Working Papers

Audit Working Papers Presented By: Kanza Masood Presented To: Miss Iram Butt Semester: Semester 6 Date: 18th Feb’13 Course: Audit Internal Control ————————————————- Audit working papers Audit working papers  are the documents which record all  audit evidence  obtained during  financial statements  auditing, internal management auditing, information systems auditing, and investigations. Audit working papers are used to support the audit work done in order to provide assurance that the audit was performed in accordance with the relevant auditing standards.They show the audit was: * Properly planned; * Carried out; * There was adequate supervision; * That the appropriate review was undertaken; & finally and most importantly; * That the evidence is sufficient and appropriate to support the audit opinion. Audit working papers are the  property  of the  aud itor. In order to keep  professional ethic, it cannot discover to third party without consent of the client unless limited specified situations mentioned in  ISA 230 Documentation  and required by  law, the examples are  court order, for  public interest  and so on.The forms of documentation may be  flowchart,  manual,  narrative note,  checklist  or  questionnaire. ————————————————- Proper features of working papers * Reviewed by auditors with supervisors noted. * Signed, dated and approved by relevant level of audit staff with sufficient cross reference. * With evidence of effective audit planning, work done, sufficient and quality evidence. * Outstanding matters are cleared in due course. There are a number of companies who offer electronic working paper tools for accountants.The leading providers include: Wolters Kluwer, CaseWare, Thomson, Dat a Prime Solutions, WorkPapers. Pro and Saltlake Infosolutions. Their products are TeamMate, CaseWare Working Papers, Engagement CS, Draftworx, WorkPapers and APEX Audit System respectively. Audit Working Paper Format 1. The diversity of audit assignment prevents the establishment of a single system or design of working papers to be used. Therefore, a uniform working paper format may not be used but work papers for functional areas such as cash receipts should display conformity in various types of audits. 2.Work papers may be in the form of paper, tapes, disks, diskettes, films, etc. There should be backup copies of electronically generated working papers. The backup copies should not be stored with the original copies. ————————————————- Purpose of working papers Working papers are the evidence of work done by the auditor, he should prepare working papers in order to provi de evidence that audit was properly performed according to ISA standards. Working papers support auditor, in-case he is being sued in court by the client, for negligence of audit work. ———————————————— Importance of working papers 1. Working papers are instruments vital to the successful accomplishment of all audit assignments performed. The working papers provide documented evidence of an examination and evaluation and provide a connecting link between the work which is performed and the final audit report. Hence, their importance cannot be overly emphasized. 2. To a major extent, every auditor is judged by his skill and ability in preparing working papers.When working papers are prepared in good form with proper attention to layout, design, and legibility, with complete headings, explanations of sources, and verification of work performed, they create a feeling of confid ence in the ability of the staff member. Working papers should always convey an impression of system and order and conscientious attention to detail, coupled with a clear distinction between the important and the trivial. 3. Another test of good working papers occurs when it is necessary for one staff member to leave a partially completed assignment and turn it over to another staff member.If the latter can proceed without confusion then the working papers have stood the critical test of being able to stand on their own. 4. Every auditor will be expected to continuously strive for the highest standards of excellence in the preparation of working papers. ————————————————- Purposes served by Auditing working papers 1. Audit working papers serve four major purposes: A. They constitute a permanent record of the objectives and scope of the audit, as well as the work performed d uring the audit. Work papers organize and coordinate all phases of the audit.B. They contain the back-up material in support of the audit findings, conclusions, opinions, and comments. C. They contain the basic material from which the audit report is prepared. D. They reflect the quality and reliability of the work performed by the auditor and substantiate and explain in detail the opinions and findings presented to University management. 2. Working papers have a number of additional uses both during and after the audit. These are to control audit progress by showing the auditor what audit procedures have been completed and what audit procedures have not been completed.Working papers also provide: A. A basis for study of patterns and trends. B. Aid in the internal audit staff's professional development. C. Detailed supporting material for use in discussion with operating personnel. D. A source of evidence in litigation and in administrative actions. E. A basis for supervisory review and evaluation of audit performance. F. A permanent record for use in planning and carrying out future audits. G. Demonstrate that auditors have complied with the Standards for the Professional Practice of Internal Auditors. ————————————————-Planning and Preparing Auditing working papers ————————————————- 1. The preparation of audit working papers must be planned so that they will substantively fulfill the purposes mentioned in Section 1003. An audit program provides much help in the planning of working papers. The program reflects the objectives of the audit and the nature of the information required. Thus, many of the areas of inquiry are identified as well as the general types of working papers that will be needed to record the work performed in those areas.H owever, methods of operations are never precisely the same in two â€Å"like† organizational elements, nor are the circumstances under which the operations are carried out identical. For this reason, audits of similar organizations and activities should not be performed exactly alike nor should stereotyped working papers be prepared. ————————————————- 2. Each section of the working papers must be planned to satisfy some requirement of the audit program. When the audit is completed, the working papers should contain data needed to fulfill all of the objectives of the audit.Adequate planning of working papers requires the auditor to: ————————————————- A. Determine the nature and extent of the information that will be needed to comply with the audit objective s and to plan the format and preparation of working papers that will be needed to record this information. ————————————————- B. Index and file all work papers according to Audit Workpaper Checklist. ————————————————- C. Devise legends (symbols) and a method of cross-referencing.Where applicable, the standard tickmarks developed by Audit and Management Services should be used. ————————————————- 3. Thought should be given in preparation of working papers to their potential use as exhibits in an audit report. ————————————————- ——â⠂¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€- ————————————————- Principles and Methods of Documentation ————————————————- 1. Working papers are the basis on which the entire audit rests.Since these papers are, in fact, the documentation of the audit, thoroughness in their preparation is essential. ————————————————- 2. Describing the Work Performed. By fully describing the work you have performed in your working papers, you are able to render a complete accounting of the scope and depth of your coverage. Each working paper should identify the following: ————†”———————————- A. Scope. Your conclusions usually result from selective tests.By clearly showing the scope of the work performed, you are able to support your conclusions and where probability sampling is used, support the projection of conclusions drawn from selective tests to the entire subject area under audit. In the examination of documents, the scope must identify the size of the sample, the universe from which the sample is drawn, the method of selection, and the basis for these decisions. When sampling methods are used, the sampling plan must be carefully explained. ————————————————- ————————————————-Working Paper Format of Auditing Working Papers ——— Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€- 1. The diversity of audit assignment prevents the establishment of a single system or design of working papers to be used. Therefore, a uniform working paper format may not be used but work papers for functional areas such as cash receipts should display conformity in various types of audits. ————————————————- 2. Workpapers may be in the form of paper, tapes, disks, diskettes, films, etc. There should be backup copies of electronically generated working papers.The backup copies should not be stored with the original copies. ————————————————- ———————————————â€⠀- Contents of Auditing working papers CONTRACT LETTER: The working papers contain the contract letter. This letter gives right to a person to a start work of audit. It states the terms and conditional of appointment of an auditor. The nature and amount of work is recorded. This letter becomes a part of audit working papers. 2. AUDIT PROGRAMME: An audit programme is a detailed plane of action to be used for audit. It is a time table of staff duties.The books to be examined are stated in audit programme. Every audit work requires programme and then master audit programme is prepared to cover all activities. 3. AUDIT NOTE BOOK: The audit notebook is a part of audit working papers. It may be bound book or loose-leaf card form. It contains useful information about the business enterprise. When audit report is drafted this book provides data for such report. The weak points like missing vouchers, queries not settle are stated in it 4. COPIES OF DOCUMENTS: The copies of various documents are included in audit working papers.The partnership deed, article of association, memorandum of association, trust deed, lease contract and similar other papers are collected from the management. These papers are useful to determine the performance of business work. 5. COPIES OF CRRESPONDENCE: The copies of correspondence become part of audit working papers. The auditor can write letter to other parties. The replies can be received from debtors and creditors. The audit staff must keep the exchange of letter between auditor and other people 6. SCHEDULE OF DEBTORS: The client provides the schedule of debtors.This list is compared with the books of accounts. The auditors can confirm the balance from various debtors. He collects facts and figures by writing letters to the customers 7. STOCK CERTIFICATE:   The stock certificate is received from the management. The auditor can watch the stock taking process. When the stock is lying in public warehouse, the certificate of warehouse kee per is accepted for audit 8. COPIES OF PREVIOUS AUDIT: The auditor can collect copies of previous audit reports. These papers become part of audit working papers. The auditor can note the weakness stated in the old report.He can examine that same points are not repeated in the books under review. 9. RESOLUTION COPIES: Auditor collects the copies of resolutions. These copies are part of working papers. These copiers are part of working papers. The decisions made by the directors and shareholders are implemented in preparing of books of accounts. The auditor can determine whether such decisions are implemented. 10. DEPRECIATION: The audit working papers contains the particulars of depreciation. The rate of depreciation can be applied through out the life of an asset.The reasonable amount of depreciation can be charged every year. The auditor can determine the exact amount of depreciation. 11. INVESTMENTS: The management can buy and sell shares and debentures of different companies. Th e investment can be exchanged through brokers. The register of investments shall the purpose to collect various particulars relating to investments 12. MANAGEMENT CERTIFICATES: The management may provide certificates to the auditors. This certificate becomes a part audit working papers. The certificates may relate to inventory valuation and similar other matters.The auditor can rely these certificates in preparing audit report. 13. DETAIL OF QUESTIONS: The auditor can ask the number of questions to the management. The details of question asked are recorded in the audit working papers. The questions not properly answered are included in the audit report. The queries settled may be dropped from the papers. 14. OTHER PAPERS: The audit working papers may contain other papers. The auditor can collect information from experts like stock values, engineers, advocates and other consultants. These papers furnish valuable facts and figures about the financial information. ——†”————————————— Ownership and Custody of Auditing working papers Working papers are the property of the auditor, and some states have statutes that designate the auditor as the owner of the working papers. The auditor's rights of ownership, however, are subject to ethical limitations relating to the confidential relationship with clients. Certain of the auditor's working papers may sometimes serve as a useful reference source for his client, but the working papers should not be regarded as a part of, or a substitute for, the client's accounting records.The auditor should adopt reasonable procedures for safe custody of his working papers and should retain them for a period sufficient to meet the needs of his practice and to satisfy any pertinent legal requirements of records retention. —————————————†”——- Confidential Nature of Auditing working papers 1. Information obtained through audits should be treated as confidential not only as to outsiders but also as to employees of the entity audited who would not otherwise have access to the information.Further, the working papers include information concerning the scope of the examination and the extent of selective tests made, and this information should not be available to the staff of the audited entity. Therefore, audit working papers should be safeguarded at all times against the possibility of their being examined by unauthorized persons. 2. Client or outside agency request to review Audit and Management Services work papers must be approved by an appropriate official.