A Sacred Product Free Essays

In our present society, material things truly do make a difference, as these things make our lives a lot simpler and agreeable. We have to have particular sorts of devices, for example, cell phones, workstations, PCs, PDAs or the preferences so as to work well and speak with the individuals around us. We will compose a custom paper test on A Sacred Product or on the other hand any comparative subject just for you Request Now We additionally need to have vehicles so as to get the opportunity to work or school. Without these things, our lives would be a lot harder and muddled. Mechanical headways have changed the manner in which we live and furthermore the general public living in it. What's more, with all the ad and promoting systems utilized by organizations, the vast majority currently colossally feel the requirement for these material things that they could no longer overlook them. In any case, we might be encircled with material things that we use as devices for our benefit, however I do accept that a portion of these things are an instrument as well as a piece of us. Ordinary, I have an everyday practice of getting up in the first part of the day at that point gazing at the roof for several minutes before at long last getting up. That limited ability to focus time is my second to reflect about the things that happened the day preceding. I think about the particular things that occurred as far as the words and the activities that a companion, a colleague, or an outsider had never really individuals or to me. Following a couple of moments of reflection, I escape the bed and I make some espresso. I at that point sit on an agreeable seat and look on the view outside the window. I at that point attempt to acknowledge what I see and appreciate the snapshot of harmony and quietness of the little nursery that we have. I watch the grass that ascents from the rich soil and analyze the little bright blossoms that have sprouted. While I take a taste of my most loved Starbucks Coffee, I think about the exercises that I need and need to do, for example, cutoff times, office work, finding old companions, and seeing my family. I additionally think about the tasks that should be done for the afternoon. I design and sort out promptly in the first part of the day, as it is the point at which I can concentrate more as my brain is clear. In the event that I am not arranging my arrangement for the afternoon, I would compose the things that I have in my psyche. The aroma of espresso adds to the emanation of the mornings. It some way or another sets the state of mind and stirs my sense because of its solid and tart flavor. Home-made Starbucks Coffee has gotten probably the most grounded weapon in the first part of the day, as it carries life to my brain. My mornings would not be finished without some espresso; it helps my state of mind and removes the drowsiness of mornings. Espresso has been a piece of my day by day schedule that I see it as a consecrated item that I can't manage without. It resembles a propensity (or perhaps a compulsion) that I can't surrender since it livens up temperament to begin my day right. Starbucks Coffee houses are additionally a setting for a considerable lot of my companions to simply unwind and loosen up due its serene and quieting atmosphere. In that calm little spot, we talk about our interests, for example, our occupations or the present circumstance of our nation. We likewise talk about diversion and music which I and my companions appreciate. Be that as it may, why espresso has gotten one of the most well known beverages which an individual or a gathering of individuals appreciate? I accept that commercials and media, which are one of the most persuasive parts of society, have made a basic espresso into a social build. The interminable TV ads and the apparently universal advertisements are one of the numerous reasons that made espresso become a flourishing industry that is notable to various individuals in the United States as well as around the globe. Another great part of bistro commercials that I accept have caught the consideration of many is the subject of having a spot to simply stop and unwind after numerous long periods of work. Bistros give the space to loved ones to simply be together, talk about anything, think back the bygone eras, and ponder their past encounters together. The intriguing ads lure everybody to attempt espresso, and before anybody knew it, espresso has just become a become piece of their regular day to day existence. Taking everything into account, the vast majority have their own holy items that they use or need to have so as to have their lives total. Albeit material things are genuinely required by everybody, it must be taken as a top priority that sponsors and media are just advancing items and they must do as such. In any case, there are things that we truly need and there are things that we don't generally require. It is our attentiveness in the event that we need an item and not the ads that allure us to purchase their items. We should be savvy customers and not simply put stock in the ads of organizations who simply need to build their benefit. Step by step instructions to refer to A Sacred Product, Papers

Raising Minimun Wage Essays

Raising Minimun Wage Essays Raising Minimun Wage Essay Raising Minimun Wage Essay Introduction: People of the white collar class all realize that the lowest pay permitted by law of $7.25 isn't adequate to keep up an agreeable way of life. There is extensive proof to show that the present ages agreeable ways of life require an increasingly lavish cost for standard living. The average cost for basic items throughout the years has significantly expanded because of high shopper requests of items. As that being stated, $7.25 is sufficiently not for a glad way of life, food, and the bills. There are numerous employments that hate or simply cannot manage the cost of paying high wages. Consequently, numerous businesses recruit less to set aside cash. This causes a non-adequate compensation rate for open to living and high joblessness rates.The cupboards loaded with practically zero food and little measured rooms brimming with various beds are what I see. The not all that business-like houses in poor networks are brimming with children and flat mates. Living with cousins, aunties, and uncles are the standard here. We as a whole need to share beds and one restroom. Suppers are arranged each night as a need however other than that morning meal and lunch were to be eaten at school since its difficult to bear the cost of such nourishment for everybody at home. The battles of simply having the option to cover the tabs, purchase shoes, and garments are the issues that are ascending in the working class with the swelling and taxes.Middle class families are characterized more by their desires than their income.Body:Body 1: (The typical cost for basic items throughout the years has drastically expanded because of high shopper requests of items. )For some families in the white collar class that is the means by which life begins; however further down the road ages grow up to understand that they have to turn out to be a piece of the working white collar class to give an adequate way of life. Presently a days however, its constantly about purchasing the trendies t thing, name marks, and getting a markdown for EVERYTHING! Things like that cause for a more popularity of standard living. The social needs [continues]

Essay on French Revolution

Essay on French Revolution French Revolution Jan 11, 2019 in History Introduction The French Revolution as a remarkable event in the contemporary history started in the year of 1789 and finished in the late 1790s with the ascension of the military and political leader Napoleon Bonaparte. During the revolution, French citizens demolished and rebuilt the political scene of their country, eradicating the feudal system and absolute monarchy. The French Revolution was impacted by the ideals of Enlightenment, in particular the conceptions of inherent rights and national sovereignty. Though it failed to reach all of its purposes and sometimes caused a cruel and severe bloodbath, the movement has played a crucial role in forming the contemporary nations by demonstrating to the whole world the inalienable power in the human will. The French Revolution produced significant changes in the government and society and represented democratic ideals to France, but did not contributed towards the democracy in terms of the French nation. Nonetheless, it had widely influenced the re st of the European countries. However, French kings completed the basic rule and consolidated the middle class. After the revolution started, no nobles, kings or other favored individuals could ever again take up their position as an authority or disregard the ideals of equality and liberty (Woloch, n.d.). Body The ideals of brotherhood, equality and liberty were considered as the driving forces of the French Revolution, and the collapse of the era of power and aristocratic privileges led to the new age with the rise of the bourgeoisie to authority. In this context, it was assumed that everyone should become free and equal individuals as sisters and brothers in the whole nation. The ideal of equality was demonstrated on August 4, when the feudal rights were eliminated. With the removal of their ancestral liberties, the aristocracy was supposed to follow the same laws as all the French citizens, generating legal equality. This equality was further specified in the Declaration of the Rights of the Man and Citizen along with the ideal of liberty. This declaration mentioned that all the humans were born to remain free. They have natural and essential rights to safety, property, liberty, and resistance to pressure.

Vaccinations And Its Effects On Children Essay - 2266 Words

Cihan 1 Alper Cihan SOC 223 Professor Dooley 10-20-2016 Vaccination Vaccinations have strongly integrated into modern medicine, where several generations have grown up without being exposed to epidemics of many dangerous even deadly diseases. However, during the recent decade an anti-vaccine movement has emerged, powered by individuals claiming the negative effects vaccines are causing children. The two sides of the controversial debate between physicians and parents beliefs regarding the vaccination of children, and the potential effect of the reduction in the number of vaccinated people. It is considered an asymmetrical conversation, where on one side there are doctors, epidemiologists, pharmacologists and social scientists, and on the other side there are parents, writers, and activists who believe to speak with authority of individual experience against vaccinations. While many individuals believe that getting their children vaccinated is a must to prevent harmful diseases such as measles and whooping cough, others believe that v accines are one of the leading causes to many uprising disorders such as autism and other neurological problems. This essay explains the different reasons parents are rejecting certain vaccinations for their children. By the time a child is 6 years old, the Center of Disease Control and Prevention provides a recommended set of vaccinations for every child. These vaccinations minimize the risk of spreading for virusShow MoreRelatedVaccination Of Vaccinations And Its Effects On Children1546 Words   |  7 PagesCurrent vaccination rates in Queensland and Australia have dropped as parents have become more and more confused as to the real benefits and risks of vaccinations due to a plethora of information and misformation found on the internet. This essay will provide scientific information in support of immunization and include what a vaccination is, benefits of vaccinations, risks of not vaccinating, vaccine side effects and common misconceptions regarding vaccinations. Vaccinations have been repeatedlyRead MoreVaccinations And Its Effects On Children990 Words   |  4 PagesVaccinations are a preparation given to patients that provides acquired immunity to a specific disease. They contain either a live, weakened part or an inactive form created from a dead version of the viruses, causing the body to produce antibodies that will attack the virus if the body later comes into contact with the disease. A person can reduce the severity or eliminate the contraction of the disease completely. However, vaccinations have become a controversial topic and parts of the populationRead MoreVaccinations And Its Effects On Children1226 Words   |  5 Pagesdeveloped and built upon that are convincing me of the importance of the vaccinations. The benefits of vaccinations really were shown when â€Å"The Centers for Disease Control (CDC) estimated that 732,000 American children were saved from death and 322 million cases of childhood illnesses were prevented betw een 1994 and 2014 due to vaccination† (Huffington). This is proof right in front of our eyes that vaccinations are working for some children. Something that saves 732,000 lives is a very important asset. AlsoRead MoreVaccinations And Its Effects On Children1444 Words   |  6 Pagessociety stay healthy. Vaccinations are one of the ways doctors help prevent people from getting various diseases such as polio and the measles. However, some peoples’ beliefs and religions get in the way of them taking vaccines. Also, some parents believe that vaccinations are linked to autism and refuse to let their children get vaccines. For many years, people have been having controversies over this subject, but I believe that we should require kids to have vaccinations to keep society healthyRead MoreVaccinations And Its Effects On Children979 Words   |  4 PagesVaccinations are a substance given to patients that provides acquired immunity to a specific disease. They contain either a live weakened part of the virus or an inactive form created from a dead version of the viruses, causing the body to produce antibodies that will attack the virus if the body later comes into contact with the disease. Thus, a person can reduce the severity of the disease or eliminate the contraction of the disease completely. However, vaccinations have become a controversialRead MoreVaccinations And Its Effects On Children1712 Words   |  7 PagesThe Significance of Vaccinations in Our Society Litisha Sibblis Charter Oak State College â€Æ' The Significance of Vaccinations in Our Society It is important to note that not everything in life is certain or safe and effective and this same principle applies to vaccinations. This research will be on vaccines focusing on the benefits and its potentially adverse effects in children. Additionally this research will reveal if vaccines are linked to or are causes of other illnesses. Overall I intendRead MoreVaccination And Its Effects On Children1840 Words   |  8 PagesVaccination is a preparation of antigenic material that can be used to stimulate the development of antibodies and thus confer active immunity against a specific or number of diseases. It is a medical treatment administered to an otherwise healthy individual. Virtually all other invasive medical interventions occur only once someone has called ill. Vaccination, like most medical treatments, can involve some risk. And therefore it should be undertaken only after careful consideration of its risksRead MoreThe Effects Of Vaccination And Its Effects On Children 1728 Words   |  7 Pagesvaccinate yourself/ your child has become a very important question to ask yourself. With recent news of vaccinations having a possible link to autism and many other negative side effects, it has become increasingly more important to weigh the risks and the rewards of vaccinations. While this may be a risk, the risk of zero vaccinations worldwide would have an exponentially larger and more negative effect on the majority of the world. Vacinations are the key to achieving longevity in life not only for oneRead MoreChildhood Vaccinations And Its Effects On Children1218 Words   |  5 PagesChildhood Vaccinations People in the United States are urged from day one that vaccinations are important for the well being of their children and for everyone that your child may come in contact with. Recently, childhood vaccinations have been stigmatized as a negative process. Parents have become increasingly concerned about the effects and side effects of vaccinations. The problem being, that the infectious diseases that are being prevented for, are being forgotten about. Vaccinations have beenRead MoreThe Effects Of Receiving Vaccinations On Children1619 Words   |  7 Pagescontroversy regarding alleged side effects of receiving vaccinations, with autism being at the forefront of discussion. A study published by Wakefield in 1998 is what sparked the debate; in the study, Wakefield claimed that the onset of autism was directly correlated with a child’s measles, mumps, and rubella vaccination (MMR). Since the study was published, a rather large group of anti-vaccine activists have remained vocal and encouraged others to cease vaccinated their children. Celebrities and media personalities

The Devils Own Wine Shoppe Essay - 1704 Words

|Case 3: The Devil’s Own Wine Shoppe | |Business Strategy: Spring 2013—April 8, 2013 | |Tamara M. Yancy | Case Analysis: The Devil’s Own Wine Shoppe Introduction The article, â€Å"The Devil’s Own Wine Shoppe† revolves around the wine store owned by Bruce Nelson and his wife, Mary Lee. Being a business owner has been a life-long dream of Bruce. They opened the wine store in August 1974 with initial capital of $22,000 and an initial outlay of $17,258. In addition to owning the wine store, Bruce works fulltime as a car salesman while†¦show more content†¦Not only were the competitors able to price their products lower than the Nelsons they were able to offer discounts that the Nelson’s could not afford to offer; thus making them more attractive to the consumer. Lastly, the competitors were able to advertise on a level that was not financially feasible for the Nelsons. Because of their advertising abilities, the competitors were able to create more awareness of their wine selection that the Nelsons which subsequently pulled customers away from the Nelson’s wine store. The Nelson’s wine store was operating a loss. They began their business with a $7,000 personal savings investment and a $15,000 which they had not been able to begin repayment during their nine months of operations. After the performance of a financial analysis, it was concluded that the Nelsons were losing on average $802 per month with estimated average monthly sales of $1,888 and estimated average monthly expenses of $1,580. At these levels, not only could the Nelsons not make a profit, they could not breakeven. In order to breakeven, the Nelsons would need to generate sales of $5,642 offering no salary to Bruce or $9,214 offering a salary to Bruce. Problem Statement Which income generating venture should the Nelson’s pursue: the wine shop or fulltime employment at the dealership?

Royal Ahold’s Case Write Up Free Essays

Executive Summary The case discusses the Royal Ahold’s the major events that led to the demise of a great European company. The case presents some of the key issues in the areas of leadership, strategy, audit and accounting fraud that resulted in their disaster. The case identifies the problems made by the management in selecting the improper growth strategy and incentive plan that encouraged unethical behaviour from the senior management. We will write a custom essay sample on Royal Ahold’s Case Write Up or any similar topic only for you Order Now The events presented touch and highlight management and governance issues, which are so important in managing global companies. After analysis of the cases and financial statements, I have come with questions and concerns on the management and financial statements that could have caught this earlier on. Questions to be asked and process of approving budgets, corporate strategy, risk controls would have raised concerns on the management style. Some of the other recommended actions for board and its various committees would have discouraged the improper management practices. Some of these questions might have surfaced real issues and / or encouraged the right practice. I found various accounting standards, challenges of global audit process; in this case it was led by Deliotte. The CEO’s and leadership growth strategy was the reward and recognition was improper. The number of acquisitions made during the 90s and continuous pressure was put on all subsidiaries to grow the sales by 15% were bad decisions. This alone led to many other problems within the company. The CEO’s growth strategy and desire to quickly grow the company put immense pressure on all other companies and senior management to somehow meet the CEO’s expectation. It all resulted into fraudulent activities and ultimately disaster of great company. I recommend adopting changes to incentive plans, non-financial factors be part of success criteria. In measuring financial success, working capital ratio, inventory days, receivable and payable targets should be part of incentives. Above all, I recommend changes to the board committees and ensuring their work is independent was also important, i. e. audit committee, establishment of HR committee to raise issues and improve the overall organization culture. The case also highlights the issue of multiple accounting standards being practiced in very country. A standard corporate wide accounting standard in Royal Ahold must have been used. Both external and internal auditors must have report ed numbers in a consistent approach. I recommend that auditors had direct reporting to board and should have empowered and trained to look for documentation and management structures in their audit process. Had they dig deep on all areas of concerns of material significance they might have found side letters. I have also highlighted other recommendations including the controls in the accounting standards and in preparing financial papers. Incentive plans and corporate strategy be realistic to avoid unwanted behaviors. Tone of the top management including the board’s, assignment of responsibilities be clearly stated and periodically measured. Student id: 250712690 1 Management Accounting Exam Problem Identification: The case depicts another case of fail of governance and business ethics. This appears to be a fraud and not just accounting mistakes. By 2003, the time of the case, Enron, WorldCom and few others had already identified the need of business ethics and corporate governance. Royal Ahold series of events happened mainly due to greed and unethical behaviour but what really underlies is the objective setting, growth strategy and, rewards recognition criteria set by management. The case also presents issues of cost accounting, in terms of, when to apply the manufacturing rebates. Consolidation of subsidiaries and joint ventures also played a role in this fraud. It also shows bad governance, flaws in external audit, failure of internal audit functions and to some degree their competency. Leadership strategy: Royal Ahold’s CEO’s strategy of 15% growth year-over-year was very aggressive. The reward and recognition structure around the sales number was improper as it led management of all subsidiaries and other business units to increase the revenue and meet the targets. CEO kept communicating to board and shareholders the expectation around the sales strategy and likelihood of meeting these targets. Consequently, it created a culture whereby senior management were under pressure to meet the sales objective. The senior management and head of subsidiaries must have felt that missing the sales targets is not even an option. Accounting Fraud: The case presents few big issues of accounting. Firstly, the issue is of the incorrect accounting treatment of manufacturing rebates and promotional allowances. My opinion is that rebates cannot decrease the cost of goods unless there is a certainty of getting the rebates. If the rebates are uncertain they cannot decrease the cost of goods incorrectly. From the case, it appears that management ordered more quantity of goods then they could have sold. They booked the rebates at time of goods received and decrease the cost of goods prematurely. (Assumption: It is not very clear from the case, if these rebates were booked as income or adjusted against the cost of goods i. . decrease in cost of item. I have assumed that Royal Ahold accountants decreased the costs (prematurely as per above paragraph). If these were booked as income, then it is even a bigger fraud and not an accounting error) Second accounting fraud problem is the accountants preparation of Royal Ahold’s parent company financial statements. They consolidated the financial statements including some of the joint ventures when Royal didn’t even had control over them. Royal Ahold did not own more than 50% of these Joint Ventures and did not have the control of the decision making. They created fraudulent paper work to show they had control on these join venture companies. This is a pure fraud as they created agreements to satisfy auditors and try to hide the real facts. Audit: Both external auditors and internal auditors (and audit committee) failed to detect any of the accounting issues. It could have been missed as accounting standards in many countries is different. External auditors, even though they may all be of Deloite, of one country only audits that country statements, so they may not be familiar what might be happening in other parts of the company. However, the Royal Ahold parent company auditors are responsible to have an oversight of companywide audit and should be held responsible for over -looking these fraudulent transactions. Internal audit and board’s audit committee failed to detect any of the misrepresentation either. On top of that in Netherlands there were two boards (Governing Board and Supervisory Board) and both boards weren’t able to detect or raise red flag on any of these problems and misrepresentations. Management having two sets of paper work with JV (Joint Ventures) without coming under the investigation shows incompetency of audit functions. Governance / Audit Structure The way the governance and audit structure was laid out at Royal Ahold, there were five different committees and entities were responsible to review accounting and financial controls and practices that could have asked questions and raise concerns (red flags). They were: The governance board, supervisory board, the audit committee, internal audit department and the external auditors. Each should have independently reviewed management controls and financial statements and raise concerns and issues. Raising Red Flags In my opinion, the governance structure and audit committees and external auditors were sufficient enough to handle or uncover such fraudulent activities had they been critical, created the right controls, empowered the internal auditors and obviously asked the right questions while reviewing the financial statements and other management documentation. As part of board, I would have asked questions following questions, or have acted when seen abnormalities. This would have helped me in identifying issues, concerns and in raising red flags on the Royal Ahold 1999-2001 financial statements. Also some of them are related to mid 90’s management attitude and strategy. Strategy and Growth Approach: The target of meeting 15% year-over-year in sales, especially in US in 2000-01 when economy was in recession should have alarmed the board and internal auditors. They should have investigated how the sales targets are being achieved. It is not easy to meet 15% sales in US food industries under this economic climate. This may have led the management behaviour in meeting the targets. As board member, I would have asked CEO to explain the strategy of rewards and recognition, mainly on top line bonus as it is a wrong choice. (I have personally worked at Compaq during 1999-2000 and have seen the issue of top line bonus and commission on sales. This led to Compaq’s continued crises and eventually it was bought by HP in 2003). I would tried to influence the board and hence the CEO to consider a more comprehensive rewards strategy. From my experience bonus strategy plays a big role in company culture. The other important factor that develops the management attitude is what CEO likes to hear. It seems Royal Ahold’s CEO, Cees van der Hooven, wanted to hear from all his subsidiaries and Joint Ventures that sales targets are being met every quarter. I would have influence the management style and company culture to be protected by changing (or diluting) this approach. CEO’s attitude and leadership style was one of the leading cause of Royal Ahold demise. His aggressive acquisition approach would have resulted in integration issues within the company. As board member, I would have asked the management plans on integration and how culture of the organization would not be negatively impacted. I would have created the board HR committee to influence management not to allow the negative impacts on the organization culture, integration within the organization, rewards and recognition be such that it would not have allowed the culture to deteriorate. The cultural issues, integration issues and above all greed among the management team members was uncontrolled in Royal Ahold’s accounting scandal. The growing number of acquisitions was extremely risky initiative; the corporate strategy was carrying high risks at all operational levels including controls, integration that may have led to frauds. Also, this had potential to be a reputation risk as well. In my opinion, board should not have approved such an aggressive corporate growth strategy. Consolidated Statements Although Royal Ahold ownership is less than 50% in some Join venture companies, they showed controlling interests in some companies. To me an agreement paper presented by the management is not sufficient. I would have asked the significance of Royal Ahold’s control and ask management which areas of Joint Venture management we have been making decisions on. If we are making decisions, even though we don’t own more than 50%, what are the risks associated with these decisions. As a board member, I would have understood how Royal Ahold has influenced the Joint Venture management. I would have also asked audit committee to understand the management structure of Joint Ventures. Taking a step further, assuming that 20% share would have given Royal Ahold right to appoint a board member on Joint Venture’s Board, I would have understood from the Joint Venture board member (through Royal Ahold appointed director) how the joint ventures decision making process really works. By asking such questions and efforts in trying to understand from the board and management of Joint ventures how the organization is actually structured and working. If Royal Ahold does not have a controlling authority on the acquired company, the company financial statements cannot be consolidated. Royal’s accounting practice o f consolidation will first bump up the revenue numbers. This was purposely done to beef up the revenue figures. This may have resulted bigger bonus for the senior management. Also, the balance sheet would be more attractive to the shareholders (and potential shareholders). To explain this here is simple illustration: Parent Current Assets Assets Total Assets Current Liabilities Liabilit ies Total Liabilities Shareholder’s Equity Debt to Equity Ratio Subsidiary Consolidated 3 7 10 1 3 4 4 10 14 4 1 5 3 7 0. 5 1. 5 3. 5 8. 5 3 2. 5 5. 5 2. 3 0. 6 1. 5 As illustrated in the hypothetical example above example, by consolidat ion the debt looks more attractive then it would have looked otherwise in the parent company. The debt to equity shows debt-to-equity of ($1. 5:$1) when consolidated, and ($2. 3:$1) when not consolidated. Similarly, other financial ratios would have looked good with consolidation of financial statements. The consolidation resulted in better financial statements; hence Royal Ahold used this approach. In actual, this should not have used consolidated method. As per the accounting text, Parent when owns an investee company’s 20%-50% should use the equity method of accounting. The equity method would have mainly impacted the earnings on the Income statements. The net income, however, would result the same earnings without changing the revenue numbers. On the balance sheet side, the equity method would only show true â€Å"Assets† number, as per the investments made in the JV by Royal Ahold. The financial ratios (e. . debt to equity or quick ratio etc. ) will not be as appealing as it started to sound with consolidated statement. Risk Controls: As board member, I would have influenced the entire board not to approve the corporate strategy as a budget was too aggressive and unrealistic. As pointed out above, realistic targets are extremely important. If strategy is too aggres sive and corporate culture is to share good news with the CEO the unrealistic budgets targets may lead to malpractice and improper (fraudulent) activities. In my opinion it is supervisory board obligation to approve only realistic targets. The corporate strategy in the growth years of mid ‘90s was too aggressive. This has done part of the damage in the culture and mind-set of the senior management that 15% growth is not unrealistic and has created an attitude to meet these targets in any way possible. This encouraged the wrong doings and possible frauds that started to take place in 1999-2001. Although it is not very clear from the case, were there any wrong doing (or activities) in 199798, but in the hind-sight, it appears that some of the issues must have started or existed in that time as well. The board and senior management should actively work on identifying risks to the organization and work on strategies that mitigates the risks. A key here is to have a formal risk assessment process on an annual basis. The assessment is under supervision of the board and results are reviewed by the board. Inventory 2001 balance sheet shows 20% rise in inventory, I would have raises some concerns that might have uncovered the management improper decision to order such high quantity of stocks to get the manufacturing rebates. Accounts Receivable In 2001, accounts receivable increased by Euros 605M i. e. 21. 2%. I would have asked questions around the assumptions and likelihood receiving the Account Receivable. More importantly, who owes this receivable to Royal Ahold. This may have been due to the manufacturing rebates included in the accounts receivable. If so, it would have led to the whole issue of management aggressive behaviour on ordering stocks to get rebates. It might have opened up the entire incorrect accounting treatment of manufacturing allowances and rebates. General Reserve Royal Ahold is showing consistently on their balance sheet a general reserve item that is over 5 to 6 Billion euros (approx). This appears to be high, I would have asked on what assumptions these provisions are made. It might have uncovered some of the assumptions that are being made by management. This general reserve is in addition to the 1. 5B euros in other provisions. This is should have been a red flag. Other Recommended Preventive Measures Besides the concerns and red flags mentioned above, I would have raised based on what I would have seen. I would have also taken following measures to prevent this from happening. Incentive (Bonus) Structure: The bonus structure cannot solely be based on financial goals. The bonus structure has to base on non-financial goals as well. Within financial goals all aspects to kept in mind when designing the appropriate incentive program. The increase in working capital (inventory, receivables, payables etc. ) is kept at minimum or in line with the net income. The increase or decrease in working capital beyond the realistic proportion to earnings should be discouraged through the incentive program as well. Audit Committee Structure: The case presents the audit committee and internal audit department weaknesses and signs of some of their inefficient processes and competency issues. Besides reviewing the audit committee performance, monitoring and control issues were also been found. I would have influence the audit committee to have a metrics of internal audit department. This may have encouraged more objectivity of audit functions and may have aligned management controls to the overall governance issues. It is the responsibility of audit committee that internal and external auditors have an open communication. Besides audit of the current financial statements, and review of controls and structures, the auditors must identify areas of improvement in controls and work on action plan in improving the organization controls and monitoring process. HR Committee As mentioned above, I would have asked board to create HR committee that takes an active role in setting the controls in the organization. The committee should take an active role in reviewing the annual compensation and objective setting. Committee should have taken an independent review of key hiring decisions and management capability on integration and organization culture. Some key decisions in this area should only made by committee after consulting with the management, audit and board’s general direction. IT System: I would have asked internal audit committee to ensure all IT systems are audited to ensure proper controls are in place. Usually, in fraud IT systems controls could have loop holes or management may have the ability to bypass some of the checks and balances and/ or segregation of duties. Consistency in financial Statements Royal Ahold had companies in four different continents and in many countries. Financial statements presentation and laws across the globe are not consistent. US GAPP, Netherlands GAAP, IFSA and others are not standard across all countries where the Royal Aholds companies are in operation. While the fact makes a challenge for the board, it doesn’t give them an excuse of letting things slip. The board should have worked out with internal and external auditors in creating a minimum corporate standard across the group of companies. It is the flaw in governance and leadership to over-look this fundamental point. How to cite Royal Ahold’s Case Write Up, Essay examples

Mitochondria And Chloroplast Essay Essays - Cellular Respiration

Mitochondria and Chloroplast Essay name = Fnord Discordia email = [emailprotected] publish = yes subject= Biology title = Mitochondria and Chloroplast Essay Biology Mitochondria and Chloroplast Essay I. Introduction Out of all the organelles there are two that have fascinated microbiologists for the past hundred years. The first is the mitochondria, nicknamed the "powerhouse of the cell." The second is the chloroplast in plant cells that have functions similar to those of the mitochondria. What do these organelles do? What are the similarities and differences of these organelles? This essay will help you to understand these two fascinating organelles. II. Mitochondria Mitochondria are small cytoplasmic organelles. They are five to 10 micrometers long and one to .5 micrometers wide. They main function is to provide energy for cell activities. They house the respiratory enzymes that convert oxygen and the products of fat, carbohydrate, and protein metabolism into adenosine triphosphate (ATP) and guanosine triphosphate (GTP), chemicals that have high-energy bonds. They are hollow all except for a folded line of matter that contains the ribonucleic acid (RNA) or deoxyribonucleic acid (DNA) of the cell. Mitochondrion make use of a process known as oxidation to make fat acids and pyruvate acid into (indirectly) ATP and Pi (inorganic phosphate). The process goes as follows: 1) Oxidation of pyruvate acid into acetyl coenzyme A. 2) Oxidation of fat acids into acetyl coenzyme A. 3)Oxidation of acetyl coenzymes from step one and two into CO2 and NADH2. 4) Oxidation of NADH2 by oxygen forming water. 5) Synthesis of ATP coupled to NADH2 oxidation by process of oxidative phosphorylation. Most of this is self explanatory except for the last step (5). The final step contains a phrase "coupled to." This means that the compound (NADH2) must be present and have been oxidized for the synthesis of ATP, similar to a catalyst's presence of some reactions. Although the mitochondrion's major purpose is to supply the cell with the much needed ATP, it has others. Included in this list are nitrogen metabolism, porphyrin synthesis and steroid hormone synthesis. III. Chloroplasts Chloroplasts are complicated green organelles that occur within the cytoplasm of plant cells. They are the main sites of photosynthesis. Photosynthesis is the change of light energy, CO2 water into sugar which is used as food. They are disk shaped organelles and are surrounded by two layers of membrane that enclose the watery inside or stroma. Inside the stroma there are green dots called grana (grains) that hold chlorophyll. As with the mitochondrion the Chloroplasts use radiant or solar energy to make a product. In this case hexose. 1) The pigment complexes in the chloroplasts (including but not limited to chlorophyll) collect solar energy. 2) The light energy gathered in the first step is used to run an electron transport chain that oxidizes water into 0xygen. NADP is reduced. 3) ATP synthesis is coupled to the electron transport train. 4) Carbon dioxide is fixed and converted to hexose. This process requires ATP and the reduced NADP created in step three and two respectively. IV. Conclusion Both the mitochondria and the chloroplasts have complex purposes in the cell. This first as the powerhouse that creates energy for cell activities. The second, chloroplasts which produce food that is used to power the cell. These procedures are facinating and more could be learned if time would allow it. Bibliography: Cytoplasmic Genes and Organelles. Sager, Ruth. 1972. London. Genetics and Biogenesis of Chloroplasts and Mitochondria. B?cher, Th. . 1976. Amsterdan. Mitochondria, Chloroplasts and Bacterial Membranes. Prebble, J N. 1981. New York. Methods in Enzymology. Volume 207. Rudy Benardo. 1992. San Diego.