Rape Can Be Defined As Being Unlawful And Unconsented...

Rape can be defined as being unlawful and unconsented vaginal or anal penetration. The source of penetration varies and includes penetration by using the finger, penis, or objects and can be penetrated into the mouth or the anus. The American Heritage college dictionary definition of rape, page 740 is â€Å"a sexual act committed by force especially on a woman†. There are several different types of rape that exist in the law. A) Penetrative rape: The vagina is penetrated by penis, finger, or other objects B) Statutory rape: The penis is touched on vagina but no penetration takes place. This type does not exist in Indian statutes yet C) Marital rape: When rape occurs within a marriage. This is not yet recognised in Indian law. D) Date rape: When rape occurs during an exploratory platonic romantic meeting between a man and a woman, where often intoxicating agent is mixed in the food or drink of the victim. E) Gang rape: when more than one person rapes the victim. F) Male rape: when man on man rape takes place. (cited in the Indian J Psychiatry, 2013) This essay will be explaining some of the Biological and Cognitive (Social learning Perspective) Psychological Theories and will be critically evaluating Rape as an act of criminal behaviour. The cognitive approach will be focussing on learnt behaviour, cycles of abuse and normalisation of coercive violent sex through early childhood experiences and the biological theory will focus on psychosis and the neurobiological explanations

The Implementation of the Acceleread and Accelewrite...

Introduction Select an intervention or support strategy from the module and explain how this approach meets the needs of students with dyslexia. Demonstrate the effectiveness of your chosen intervention by critically evaluating its research and evidence base, and discuss how you might implement this approach in practice During this assignment we will look at the effects of the implementation of the Acceleread and Accelewrite programme on dyslexic students and how it meets the needs of our students. We have recently been working with a group of Dyslexic students in Year 3 and have introduced the programme as an intervention strategy used to accelerate their reading and spelling skills. The school is an independent primary school in Hong†¦show more content†¦The advantages of which are described by Locke et al (1997), who postulate that the ‘neural and cognitive plasticity’ of younger children means that they are more susceptible to intervention at a young age than when their learning has become more habitualised later on. If difficulties in reading and spelling are addressed at the earliest possible opportunity the pupil will benefit from increased access to the whole curriculum. Locke et al (1997) also argue that early intervention ‘mitigates’ the damaging effects of failure on self-esteem. Although our school works hard to currently address the needs of our Dyslexic children with a degree of success with relation to academic progress (as monitored through quantitative assessments carried out by the Learning Support Team and also through the continual tracking and assessment), there are currently several older children in the school, now approaching the transition to secondary education, who have experienced feelings of low self-esteem and reluctance to read or write throughout their schooling. One child in particular feels he is continually frustrated and has been reduced to tears in class. The school’s provision for Dyslexic pupils would be more successful if reading and spelling ability equivalent to the child’s chronological age could be achieved early on in the child’s schooling in order to prevent

Auditing and Assurance Services Global Financial Crisis

Question: Discuss about the Auditing and Assurance Servicesfor Global Financial Crisis. Answer: Introduction The assignment is regarding the auditors role and liability in the companies. It discusses how the auditors played a major role in the fall of the Lehman brothers and what the potential liability of the auditors is after the incident which shook the economies globally. The period of financial crisis was very tough for the auditors as it was difficult to prove their authenticity in work and genuineness. The auditors who are believed to be the fair authorities who provide true and fair judgements on the books of accounts were doubted. The report is prepared on the behalf of the chartered accountant firm for the partner Sally Smith to showcase that what are the potential liabilities of the auditors after the global financial crisis. There are four dominant audit companies in the audit market across the world. The involvement of one of these companies in fraud with the leading company in USA has created huge chaos in the market. This paper seeks to discuss the financial crisis, what led to such a big financial crisis and what role the auditors played in the same. It will raise the issues of the liabilities of auditors, their quality of work and their independence. What is Global Financial Crisis? Global financial crisis is the period of economic crisis and crunch in the economy of the whole world where the amount of debt in the economies was far more than the repaying capacities of people. It was initiated with United States of America where Lehman Brothers, one of the top investment and financial bank of the country was declared bankrupt because it was under huge burden of borrowings and had no money to pay. The debt markets fell sharply which became the reason for the fall of markets (Oldani, et al., 2016). In the global crisis, the debts were created in such a large amount in the market which became tough to repay by the people because their incomes were lesser than the debts. People started failing to repay their loan taken which slowly and gradually resulted into the bankruptcy of banks (Valentine Woods, 2010). Liability of Auditor in the Period of Global Financial Crisis Auditors are those specially certified Chartered accountants who are legally allowed to carry on the investigations and audits of the companies and their books of accounts. They are responsible for examination and verification of the accounts of the company. It is done to prepare and develop a final report which consists of the independent opinion of the auditors about the companys financial position. In this report, the auditor is required to present his true and fair opinion about the company position financially (Ip, 2012). This report helps the investors and other stakeholders to take their decision. They rely on the audit report given by the auditors. When the financial crisis took place, the auditors were required to follow the standards of auditing and present what the companies are going through and what their books of accounts are representing. This will safeguard the interests of the related stakeholders (Zhu, 2012). As per the standards of auditing, the independent auditor is responsible for providing a correct view on the financial accounts of the company. It also says that the standards of auditing are required to be followed by the auditors while performing audits. Providing true and fair view on the accounts saves many investors and other stakeholders. The auditors who do not follow the standards and rules can be sued for not working in the fair and honest spirit (Todea Stanciu, 2009). Lehman Brothers- The Case Lehman Brothers was one of the biggest names in the investment and banking industry till it declared itself insolvent in Sept 15, 2008. A situation of panic was aroused in USA and in the whole world. The share markets fell and it was understood that this financial crisis is going to be bigger than any of them occurred till date (DArcy, 2009). Lehman Brothers was bankrupt and had failed to carry on its functions further. There were 28000 people working in the company who got unemployed at once. It was found that auditors of Lehman brothers are at fault because they knew about the failures and they did not disclosed the same in front of public. Ernst Young was the auditor of Lehman Brothers and it is also found that the auditors were paid with a very huge amount of $31 million for concealing the facts. Lehman Brothers was audited by a team of auditors by Ernst Young. This team did not receive full support from the team of internal auditors of the company. There was a lack of cooperation between the internal and external auditors (McDonald Hillis, 2016). Ernst Young was required to verify the accounts properly and disclose the real situation of the company. It was found that the company used Repo 105 to show better position of the company but Ernst Young never disclosed that. They should have disclosed the original issues or the problems of Lehman Brothers in the audit report which would have served as an alarming sign for everyone attached with the company and their profits (Sikka, 2009). The immaturity of the audit firm led to the emergence of financial crisis. Lehman brothers were under the liabilities of $ 50 million. The company was using the incorrect and unacceptable methods of accounting which was hidden by the auditor (Jones, 2011). The investors of Lehman brothers sued Ernst Young. Ernst Young paid $99 million to the investors to close the case in 2013. Till now, Ernst Young do not accept that it was being involved in the fraud (Xu, et. al., 2013). The main duty of the auditor is to collect, check and verify the books of accounts and to present their true and fair view in the audit report. Failing to this, auditor is responsible for being involved in the fraud. Potential Liability of the Auditors which they Face after Global Financial Crisis The case and collapse of Lehman brothers cleared the roles and responsibilities of Auditors towards the audit function of the firm. The auditors are accountable for conducting a proper investigation on the books of accounts because, it is the financial situation of the company on which the public relies and believes (Boyle Mahoney, 2015). The company takes decisions for their business but for that auditor is not responsible. The auditor is responsible for not identifying the errors and frauds and for not disclosing it in the public. It is either because they are paid high for the same or they are not able to identify the frauds and errors in the company (Dragos, 2010). The situation of financial crisis has created more responsibilities towards the auditors. They have to apply more knowledge and effectiveness in their work. The companies have to work now in the completely different manner i.e. by following the standards, by verifying the accounts better than before. The auditors lost their trust when Lehman brothers collapsed. So, they now have to be more accountable in the processes which can establish the trust of public again on the auditors (Aziz Omoteso, 2014). They have to show more quality in their work and the auditors today, have to follow standards properly so that no chance of misrepresentation or fraud can arise. The audit firms are now made more structured and more safe which takes care of the honesty and integrity showed in verifying the books of accounts. The audit company makes up varies strategies so that the auditors can face lesser risks and can perform better even in the fluctuating markets (Flores, 2011). The potential liability of the auditors shows that the auditors should accept the audits which do not involve risks. The companies which follows doubtful procedures and have vague books of accounts should not be accepted by the audit firms. It will reduce the chances of frauds and risks in which auditors are involved or they are involved. The standards of auditing are required to be followed because this will also reduce the criticism rate faced by the audit firm. Auditor is one which represent true and honest views about the company and its financial position of the company on which the investors can rely (Ciro, 2016). The auditors can be held liable if they breach the contract or the letter of engagement. They are also liable for providing wrong opinions on audit. Another liability of auditors is to follow the auditing standards. There are two types of liabilities the auditors may face, that are civil liability and Criminal liability (Legg, 2009). These liabilities may arise when the auditor is careless during the audit performance in the company, when the investors have to bear the loss because of breach of duties by the auditor, when the auditor is involved with any fraudulent activities or he have the intention of committing fraud or when the auditor has not represented the financial statements correct and accurate. This is because the foremost priority of the auditor is to focus on the accounts so that they can provide their honest opinion to the investors (Rapoport, 2010). The liability of auditors has become a very important concern in recent times. The investors and the creditors when invest or lend money to the company, they go through the audit reports which are considered as the admission tickets for them, without which they will no enter in a relationship with the company. The audit report adds credibility to the financial accounts and transactions of the business (Pal, 2010). The financial crisis of 2008 showed many problems and inaccuracies on the side of auditors. It led to the failure of the audit industry because the collapse of Lehman Brothers was considered to be the biggest reason behind the financial crisis across the globe (Geiger, et. al., 2014). Not only Ernst Young was blamed to hide the real situation of the Lehman Brothers but the big audit firm PricewaterhouseCooper was also accused of not disclosing the risk management issues of AIG. So, the problems further increased. The auditors and the audit firm began to lose their image in the market. So, the auditors need to test the level of risks in the company before taking up its audit. This is followed after the global financial crisis which is done in order to reduce the risks of audit (Fraser, 2009). Conclusion It can be concluded that Audit industry has gone through many concerns after the global financial crisis. It is seen that Auditors has the liability to plan the audit and conduct it fairly by following the accounting standards which will maintain the quality of audit and the risks will be reduced. The auditors are required to fulfil their duties which are to conduct the audit properly and to provide their true and fair opinion on the books of accounts of the company. If they find any error or something risky with the transactions performed by the company, they should inform about it in the audit report after investing on it. The report contains the potential liability of the auditors after the global financial crisis took place. The case of Lehman brothers was discussed that how it led to the crisis of credit across the world. It was found that the audit firm of Lehman brothers, Ernst Young did not provide any information about the malpractices and the insolvency position of the ban k in their audit report. There was in cooperation between the internal auditors and the external auditors too which led to the non-disclosure of the companys inappropriate accounting methods. The auditors are liable for providing quality work, their view on the financial statements of the company which should be true and fair. The auditors should follow the requirements and standards in order to make their audit work strong and on which the investors or creditors can rely. For this, the auditors began to take only those audits which are clear in terms of financial activities and they also focussed more on establishing cooperation with the internal auditors so that the real situation of the can be ascertained. It will definitely increase the image and goodwill of the auditors in the company. It will also bring confidence in the markets. Recommendations Some recommendations can be given which supports in making the audit procedures free from complications and enhance the quality of the same. The auditors are suggested to select the companies which are free from the allegations, and their accounting measures are free from any doubts. These companies can be chosen by the auditors. The auditors should put more emphasis on the planning of audits which means that a proper blueprint should be created in order to enhance the quality of the audit procedures. The auditors should focus on following the standards which are given by the International Accounting Board. It will enhance the credibility of the auditing procedures. The communication with the internal auditors should be effective so that the audit procedures can be carried smoothly. Auditors should focus on new method and technologies of audit which does not only increase the quality, effectiveness but also decrease the time taken in the whole process. The fees taken by the auditors should be decided as per the criterias decided. The audit firms can also go for joint audits where two or more audit firms work together in order to prepare a final audit report. Joint audits are possible in case of big companies where there are ample amount of transactions to check and verify. It will help in reducing the frauds and errors form the audit report and procedures. The auditors should be fair and should work to gain back the trust of the public and image in the industry. The government or the board which handles audit companies in every country should encourage the auditors to display their positive effects of the fair audit. The present business environment is dynamic which needs new methodologies and techniques to conduct audit. It will help in making it easier to detect if any fraud or error is present and will also increase the credibility of the audit report. Roper documentation should be maintained by the auditors and the companies conducting audit. It will have the record of all the related affairs in the documents which can be accessed if needed later on. The questions of the public should be answered which will also increase the trust and honesty in the firms and audit procedures. References Aziz, U. Omoteso, K. 2014, "Reinforcing users confidence in statutory audit during a post-crisis period: An empirical study",Journal of Applied Accounting Research,vol. 15, no. 3, pp. 308-322. Boyle, D.M. Mahoney, D.P. 2015, "Implications of the Global Financial Crisis",The CPA Journal,vol. 85, no. 4, pp. 54. Ciro, T. 2016;2013;2012;,The Global Financial Crisis: Triggers, Responses and Aftermath,Routledge Ltd. DArcy, C., 2009, Why Lehman Brothers collapsed, Lovemoney.com. Dragos, D.S. 2010, "Auditors Ethics In The Context Of Global Crisis",Annals of the University of Oradea: Economic Science,vol. 1, no. 2, pp. 851-855. Flores, C. 2011, "New Trends in Auditor Liability",European Business Organization Law Review (EBOR),vol. 12, no. 3, pp. 415-436. Fraser, I., 2009, Big Four audit firms had pivotal role in global financial crisis, Ian Fraser. Geiger, M.A., Raghunandan, K. Riccardi, W. 2014, "The Global Financial Crisis: U.S. Bankruptcies and Going-Concern Audit Opinions",Accounting Horizons,vol. 28, no. 1, pp. 59-75. Ip, M. 2012, "The Global Financial Crisis",Chinese Economy,vol. 45, no. 3, pp. 8-23. Jones, A., 2011, Auditors criticised for role in financial crisis, Financial times. Legg, M. 2009, "The Global Financial Crisis and Auditor Litigation",Keeping Good Companies,vol. 61, no. 1, pp. 55-58. McDonald, O. Miller Hillis , J. 2016,Lehman Brothers,Manchester University Press, S.l. Oldani, C., Kirton, J.J. Savona, P. 2016;2011;,Global Financial Crisis : Global Impact and Solutions,Taylor and Francis. Pal, 2010, The Impact of The Economic Crisis On Auditing, Institute of Business Information and Methods. Rapoport, M., 2010, Role of Auditors in Crisis Gets Look, The Wall Street Journal. Sikka, P. 2009, "Financial crisis and the silence of the auditors",Accounting, Organizations and Society,vol. 34, no. 6, pp. 868-873. Todea, N. Stanciu, I. C., 2009, Auditor Liability in Period Of Financial Crisis, Annales Universitatis Apulensis Series Oeconomica . Valentine, T. Woods, M. 2010,Management in focus: global financial crisis,Pearson Australia, Frenchs Forest, N.S.W. Xu, Y., Carson, E., Fargher, N. Jiang, L. 2013, "Responses by Australian auditors to the global financial crisis",Accounting Finance,vol. 53, no. 1, pp. 301-338 Zhu, X. 2012, "The Global Financial Crisis",Chinese Economy,vol. 45, no. 3, pp. 42-55.

International Business System and Growth

Question: Discuss about the International Business System and Growth. Answer: Introduction: The country that has been chosen in this aspect is Iran among the Middle East section of the world. The export and import of Irans oil has faced growth in a decreasing rate over the span of three years. The economy would infer a recovery when they could be approached with foreign capital inflows thereby restoring their frozen assets of US$100 billion. There could be a rise in the growth rate of the country from 3% to 6% ("Iran", 2017). Yet, the risk that has been associated with such a trade alliance to be formed with Iran is that, there might be a sudden fall in the price of oil that would offset the positive up gradation in the growth rate. The country has abundant energy sources available that helps the country to grow their economy in the long run. Yet, the country is accustomed to various issues regarding the employment opportunities. Due to the employment opportunities in the country, there would be a downfall in the standard of living of the people. The business climate in the country is not feasible in nature. OECD country credit grade of 6 and is not rated by three major ratings agencies. World Bank gives Iran a score of 118 out of 189 in the ease of doing business with the country ("Iran", 2017). The country underperforms in some of the categories associated to business. It scores quite poorly in the governance of world banks governance indicators. The country suffers through the issues of government mismanagement, inefficiencies and burden of regulating the environment. Reference Iran. (2017). Efic.gov.au. Retrieved 31 March 2017, from https://www.efic.gov.au/education-and-tools/country-profiles/middle-east/iran/

Enzymes Essays (511 words) - Catalysis, Antioxidants, Enzymes

I.Introduction A.Background Information Enzymes are very essential to the body; they are the key to life. ?No enzymes, No life.? Enzymes are proteins that function as biological catalysts, increasing the rate of a reaction without being consumed by the reaction. An enzyme speeds up a reaction by lowering the energy of activation (biology 84). Enzymes are catalysts. They make things work faster. Enzymes serve as the labor force to perform every single function required for our daily activities and are required to keep us alive (soul-guidance). Enzymes are in part or in whole proteins and are highly specific in function. Because enzymes lower the energy of activation needed for reactions to take place, they accelerate the rate of reaction. Enzyme activity is influenced by many factors. Varying environmental conditions such as pH or temperature may change the three-dimensional shape of enzyme and alter its rate of activity (symbiosis). Enzymes are the fountain of life. There are two major enzyme systems in the human body. One is digestive and the other is metabolic. The digestive enzyme break down all of the food that we eat so that it can be absorbed by the body. The metabolic enzyme helps to run all of the systems of the body from respiratory to nervous system (soul-guidance). Enzymes are extremely important to our health. When enzymes are short in supply, become inactive, the body will suffer. B.Purpose The purpose of this lab was to determine the rate of enzyme activity using catalase. Catalase is an enzyme that speeds the breakdown of hydrogen peroxide to water and oxygen. To determine the effect of pH (2,4,7,and 12) on catalase, activity, soap, and hydrogen peroxide. C.Hypothesis Catalase is either going to have a higher or lower pH concentration of bubbles. II.Materials and Methods A.Materials oRuler oBeaker oTest tube rack o4 test tubes oWax pencil oDetergent oHydrogen peroxide oCatalase opH 2,4,7,and 12 o5 pipettes oTimer B.Methods Four test tubes were labeled 1-4 with wax pencil. 1 mL catalase was added to each tube. Then pH 2 buffer was added to test tube 1, pH 4 buffer to test tube 2, pH 7 buffer to test tube 4, and pH 12 buffer to test tube 4. After the buffer was added to each tube to a swirl was given to each tube to mix it up. Next a drop of soap was added to each tube and then 2 mL of hydrogen peroxide was added to each tube. The height of the bubble was recorded after 60 seconds. After recording the results in Table 1 and graphed in Figure 1 the test tubes were rinsed and put away. A.Description of Data After adding the soap and hydrogen peroxide to the different pH buffer, the solution was allowed to set for 60. Once the 60 seconds is up, you take the measurements. There was a higher rate of bubbles in pH 7. Symbiosis: Bio 101 Lab Manual 69-67. http:// www.soul-guidance.com/health/enzymes.html Campbell A. Neil. ? The Working Cell.? Biology Concept and Connection. Pearson Education, Inc. 2009. Pg.84

The financial statement of BAE system analysis of company’s financial perform-ance The WritePass Journal

The financial statement of BAE system analysis of company’s financial perform-ance   Introduction The financial statement of BAE system analysis of company’s financial perform-ance   IntroductionKey FactsLANDAIRSEAHOMELAND SECURITYTECHNOLOGY INNOVATIONINFORMATION TECHNOLOGYBalanced Scorecard  Kaplan and Norton describe the innovation of the balanced scorecard as followsThe Financial Perspective  BAE Systems Plc.Key Recent DevelopmentKey benefits of buying this profile include,Why I Chose The Balance Scorecard To Calculate My AnalysisConclusion Related   Introduction BAE Systems is a global defence and security company with approximately 100,000 employees worldwide. The Company delivers a full range of products and services for air, land and naval forces, as well as advanced electronics, security, information technology solutions and customer support services. In 2009 BAE Systems reported sales of  £22.4 billion (US$ 36.2 billion). BAE Systems plc. (BAE) is one of the leading global defence, aerospace and security companies, providing advanced electronic, security, information technology solutions. The company is engaged in designing, manufacturing, and supporting military aircrafts, space systems, surface ships, submarines, avionics, radars, C4ISR (command, control, communications, computers, intelligence, surveillance and reconnaissance) systems, electronic systems, and guided weapon systems. BAE’s other operations include complex software development, advanced manufacture, and providing specialized training services. Its distribution network covers about 130 countries.(www.baesystem.com) 2nd largest global defence company based on 2009 revenues* Approximately 100,000 employees worldwide Global capability Customers in more than 100 countries 2009 sales exceeded  £22.4 billion * (: Defense News Annual Ranking, published June 2010) Key Facts LAND BAE Systems is a global leader in the design, development, production and support of armoured combat vehicles, major and minor calibre naval guns and missile launchers, canisters, artillery systems and intelligent munitions. AIR BAE Systems delivers advanced military air capability through major aircraft programmes in the UK, US and to many overseas customers. SEA BAE Systems has a breadth of capabilities and is delivering high performance through a range of warships, submarines, auxiliary vessel programmes and naval armaments HOMELAND SECURITY BAE Systems is well positioned to play a key role in this developing market, where protecting people, assets and infrastructure, and maintaining national security and economic stability are paramount TECHNOLOGY INNOVATION BAE Systems has a proud heritage of ground breaking inventions including Concorde, Radio communication, and the Harrier Jump Jet. In the changing world of defence and homeland security, technology and innovation are still at the heart of our business. INFORMATION TECHNOLOGY BAE Systems Information Technology, based in McLean, Virginia, is one of the ten largest IT providers to the US government. Our aim is to be a recognized provider of managed IT Operations. (www.baesystem.com) Balanced Scorecard   The balanced scorecard is a strategic planning and management system that is used extensively in business and industry, government, and non profit organizations worldwide to align business activities to the vision and strategy of the organization, improve internal and external communications, and monitor organization performance against strategic goals. It was originated by Drs. Robert Kaplan (Harvard Business School) and David Norton as a performance measurement framework that added strategic non-financial performance measures to traditional financial metrics to give managers and executives a more balanced view of organizational performance. The balanced scorecard has evolved from its early use as a simple performance measurement framework to a full strategic planning and management system. The â€Å"new† balanced scorecard transforms an organization’s strategic plan from an attractive but passive document into the marching orders for the organization on a daily basis. It provides a framework that not only provides performance measurements, but helps planners identify what should be done and measured. It enables executives to truly execute their strategies. This new approach to strategic management was first detailed in a series of articles and books by Drs. Kaplan and Norton. Recognizing some of the weaknesses and vagueness of previous management approaches, the balanced scorecard approach provides a clear prescription as to what companies should measure in order to balance the financial perspective. The balanced scorecard is a management system (not only a measurement system).(www.balancescorecard.org) Kaplan and Norton describe the innovation of the balanced scorecard as follows The balanced scorecard retains traditional financial measures. But financial measures tell the story of past events, an adequate story for industrial age companies for which investments in long-term capabilities and customer relationships were not critical for success. These financial measures are inadequate, however, for guiding and evaluating the journey that information age companies must make to create future value through investment in customers, suppliers, employees, processes, technology, and innovation. The Balance Score Card Frame Work Adapted from Robert S. Kaplan and David P. Norton, â€Å"Using the Balanced Scorecard as a Strategic Management System,† Harvard Business Review (January-February 1996): 76. balancedscorecard.org/BSCResources/AbouttheBalancedScorecard/tabid/55/Default.aspx The Financial Perspective Kaplan and Norton do not disregard the traditional need for financial data. Timely and accurate funding data will always be a priority, and managers will do whatever necessary to provide it. In fact, often there is more than enough handling and processing of financial data. With the implementation of a corporate database, it is hoped that more of the processing can be centralized and automated. But the point is that the current emphasis on financials leads to the unbalanced situation with regard to other perspectives.  Ã‚  There is perhaps a need to include additional financial-related data, such as risk assessment and cost-benefit data, in this category. For example: Growth stage   goal is growth, such as revenue growth rate Sustain stage   goal is profitability, such ROE, ROCE, and EVA Harvest stage   goal is cash flow and reduction in capital requirements The following table outlines some examples of financial metrics: Objective Specific Measure Growth Revenue growth Profitability Return on equity Cost leadership Unit cost Financial Performance Of BAE System BAE Systems plc. (BAE) is one of the leading global defence, aerospace and security companies, providing advanced electronic, security, information technology solutions. The company is engaged in designing, manufacturing, and supporting military aircrafts, space systems, surface ships, submarines, avionics, radars, C4ISR (command, control, communications, computers, intelligence, surveillance and reconnaissance) systems, electronic systems, and guided weapon systems. BAE’s other operations include complex software development, advanced manufacture, and providing specialized training services. Its distribution network covers about 130 countries.(www.baesystem.com)   BAE Systems Plc.Key Recent Development Jul 26, 2010 BAE Systems, Aquamarine Power Collaborate On Wave Energy Mar 24, 2010 BAE Systems Plans To Develop Hydrogen Fuel Cell Bus For Sun Line Transit Mar 16, 2010 BAE Systems Delivers First Hybrid Propulsion Systems To Alexander Dennis Under Green Bus Fund Initiative Sep 28, 2009 Oshkosh Bags New Deal From BAE Aug 19, 2009 BAE Systems To Provide Propulsion Systems To King County Metro Transit For 500 Hybrid Electric Buses. This comprehensive SWOT profile of BAE Systems plc. provides you an in-depth strategic analysis of the company’s businesses and operations. The profile has been compiled by Global Data to bring to you a clear and an unbiased view of the company’s key strengths and weaknesses and the potential opportunities and threats. The profile helps you formulate strategies that augment your business by enabling you to understand your partners, customers and competitors better. The profile contains critical company information including Business description A detailed description of the company’s operations and business divisions. Corporate strategy Analyst’s summarization of the company’s business strategy. SWOT Analysis A detailed analysis of the company’s strengths, weakness, opportunities and threats. Company history Progression of key events associated with the company. Major products and services A list of major products, services and brands of the company. Key competitors A list of key competitors to the company. Key employees A list of the key executives of the company. Executive biographies A brief summary of the executives’ employment history. Key operational heads A list of personnel heading key departments/functions. Important locations and subsidiaries A list and contact details of key locations and subsidiaries of the company. Detailed financial ratios for the past five years The latest financial ratios derived from the annual financial statements published by the company with 5 years history. Interim ratios for the last five interim periods The latest financial ratios derived from the quarterly/semi-annual financial statements published by the company for 5 interims history. Key benefits of buying this profile include, You get detailed information about the company and its operations to identify potential customers and suppliers. The profile analyses the company’s business structure, operations, major products and services, prospects, locations and subsidiaries, key executives and their biographies and key competitors. Understand and respond to your competitors’ business structure and strategies, and capitalize on their weaknesses. Stay up to date on the major developments affecting the company. The company’s core strengths and weaknesses and areas of development or decline are analysed and presented in the profile objectively. Recent developments in the company covered in the profile help you track important events. Equip yourself with information that enables you to sharpen your strategies and transform your operations profitably. Opportunities that the company can explore and exploit are sized up and its growth potential assessed in the profile. Competitive and/or technological threats are highlighted. Scout for potential investments and acquisition targets, with detailed insight into the companies’ strategic, financial and operational performance. Financial ratio presented for major public companies in the profile include the revenue trends, profitability, growth, margins and returns, liquidity and leverage, financial position and efficiency ratios. Gain key insights into the company for academic or business research. Key elements such as SWOT analysis, corporate strategy and financial ratios and charts are incorporated in the profile to assist your academic or business research needs.(www.baesystem.com)  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Why I Chose The Balance Scorecard To Calculate My Analysis In most cases big companies need different tools to evaluate overall performance. For instance, Company X may have supply department which needs logistic solutions, customer support service that need to solve customer’s problems, sales department, HR department and so on. As said above, different business areas have different KPIs. But all your departments should woks as one single whole. Thus, if sales department has imperfections, supply department cannot work 100% of its capacity. If HR department spend money inefficiently and cannot find new employees on time, you will suffer losses which will affect the entire company. Under such conditions, every department or business type should use Balanced Scorecard in its own way in terms of KPIs. Sales department must calculate number of new customers, while contact centre is taking care of first resolution rate (number of calls which solve customer’s problem from the first time). Balanced Scorecard will make you and your employees feel confident as you will be always informed on strengths and weakness of your company. At the same time, Balanced Scorecard will contribute to positive organization climate and help you establish a fair and comprehensive compensation system. Establish certain evaluation periods (for instance once or twice a month) and call overall meeting of the company with representatives of different department. Using Balanced Scorecard you will be able to summarize company performance and make smart decisions as to future development strategy. Of course, you know what to tell a head of logistic department if he always has several unused vehicles in his fleet. And you do know if customers are complaining that call center operators are sometimes incompetent to solve their problems. Balanced Scorecard is your reliable advisor in the changeable world of business. This is a MUST have tool for top managers, head of departments and companies, development managers, quality control specialists etc. 1.  Profitability   its ability to earn income and sustain growth in both short-term and long-term. A companys degree of profitability is usually based on the income statement , which reports on the companys results of operations; 2.  Solvency   its ability to pay its obligation to creditors and other third parties in the long-term; 3.  Liquidity   its ability to maintain positive  cash flow, while satisfying immediate obligations; Both 2 and 3 are based on the companys  balance sheet, which indicates the financial condition of a business as of a given point in time. 4.  Stability the firms ability to remain in business in the long run, without having to sustain significant losses in the conduct of its business. Assessing a companys stability requires the use of both the income statement and the balance sheet, as well as other financial and non-financial indicators. Financial analysts often compare  financial ratio (of  solvency, profitability, growth, etc.): Past Performance   Across historical time periods for the same firm (the last 5 years for example), Future Performance   Using historical figures and certain mathematical and statistical techniques, including present and future values, this extrapolation method is the main source of errors in financial analysis as past statistics can be poor predictors of future prospects. Comparative Performance   Comparison between similar firms. These ratios are calculated by dividing a (group of) account balance(s), taken from the balance sheet and / or the  income statement by another, for example: Net income  / equity =  return on equity  (ROE) Net income / total assets =  return on assets  (ROA) Stock price / earnings per share =  P/E ratio Comparing financial ratios is merely one way of conducting financial analysis.  Financial ratios  face several theoretical challenges: They say little about the firms prospects in an absolute sense. Their insights about relative performance require a reference point from other time periods or similar firms. One ratio holds little meaning. As indicators, ratios can be logically interpreted in at least two ways. One can partially overcome this problem by combining several related ratios to paint a more comprehensive picture of the firms performance. Seasonal factors may prevent year-end values from being representative. A ratios values may be distorted as account balances change from the beginning to the end of an accounting period. Use average values for such accounts whenever possible. Financial ratios are no more objective than the accounting methods employed. Changes in accounting policies or choices can yield drastically different ratio values. They fail to account for exogenous factors like investor behaviour that are not based upon economic fundamentals of the firm or the general economy (fundamental analysis)  [1]. Financial analysts can also use percentage analysis which involves reducing a series of figures as a percentage of some base amounts [2]. For example, a group of items can be expressed as a percentage of net income. When proportionate changes in the same figure over a given time period expressed as a percentage is known as horizontal analysis [3]. Vertical or common-size analysis reduces all items on a statement to a â€Å"common size† as a percentage of some base value which assists in comparability with other companies of different sizes  [4]. Another method is comparative analysis. This provides a better way to determine trends. Comparative analysis presents the same information for two or more time periods and is presented side-by-side to allow for easy analysis.[5]    The Report This report is divided 2 chapters Chapter: 1 Analysis of ratio calculation Profitable ratio:   1.   ROCE:- operating profits / capital employed x 100 2009= 982/4727 x 100 0.208 x 100 20.80% 2008=1718/7289 x 100 0.236 x 100 23.60% Companies can use these figure as a benchmark to see if they are making a good profit. BAE System would conclude that it’s ROCE (%) shows success relative to other firms both 2009 and 2008. However, the fall in the ration between 2009 and 2008 is a sign of a 2.80 % declined. 2. GROSS MARGIN:- gross profit/ sales x 100 2009= 779/ 20374 x 100 0.0382 x 100 3.82 % 2008= 1700/16671 x 100 0.1020 x 100 10.20 % This ratio must be treated with caution, as gross profit in the profit and loss account in sales minus costs. Since all of the overhead are ignored in this calculation, it is not as important a measure of success as net profit.   However, the fall in the ration between 2009 and 2008 is a sign of a 6.38% declined. 3. NET PROFIT:-   net profit / sales x 100 2009 = 982 / 20374 x 100 0.0482 x 100 4.82% 2008 = 1718 / 16671 x 100 0.103 x 100 10.30% The fall in the ration between 2009 and 2008 is a sign of a big declined. 2009 was 4.82 % and 2008 was 10.30 % so different between this two year are 5.48%. 4. ASSETS TRUNOVER:- sales / capital employed 2009 = 20374 / 4727 4.31 2008 = 16671 / 7289 2.29 Expressing the assets turnover ratio as so many times is traditional but the measure would be more meaningful if we called it pounds rather so many times. This ration is going up between 2009 and 2008 is a sign of a slight up. Means it’s up just only 2.02. LIQUIDITY RATIO:   1. CURRENT RATIO :- current assets / current liabilities 2009 = 8788 / 11993 0.73 2008 = 8069 / 10790 0.75 It should be noted that a maximum as well as minimum ratio is recommended. Too many current assets will limit a firm’s ability to purchase the fixed assets that are needed to produce the goods that provide the company’s profits. Consequently, a high current ratio may be an advantage in the short run but will inhibit the long term profitability of the company. Calculation of these ratio gives the result is 2009 and 2008 respectively 0.73 and 0.75 just slight declined. 2. QUICK RATIO(ACID TEST):- Quick assets / Current liabilities  Ã‚  Ã‚  Ã‚   2009 = 7901 / 11993 0.66 2008 = 7143 / 10790 0.66 The current ratio assumes that stocks and debtors are liquid assets. Firms cannot be certain that their stock will sell quickly, so that Acid test ratio is used as an alternative to the current ratio. The calculation of the Acid test ratio ignores stock in its calculation, considering only cash, bank balance and debtors as a liquid asset. Calculation of these ratio gives the result is 2009 and 2008 no change in this ratio. 3. RECEIVABLE DAYS: receivable / sales x 365   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   2009 = 3764 / 20374 x 365 0.185 x 365 68 days 2008 = 3831 / 16671 x 365 0.23 x 365 84 days This is a ratio measuring the average time a companys customers take to pay for purchases, equal to accounts receivable divided by annual sales times 365. In this calculation we can see that this ratio is falling down by 16 bays it’s good signed for company. 4. PAYABLE DAYS: payable / purchase x 365 2009 = 10218 / 20060 x 365 0.57 x 365 186 days 2008 = 9165 / 15386 x 365 0.60 x 365 219 days This is a ratio measuring how long a company is taking to pay its trade creditors. It is calculated as: 365 * Accounts Payables divided by Cost of Goods Sold. In this calculation we can see that this ratio is falling down by 33 bays it’s good signed for company. 5. INVENTORY DAYS: inventory / cost of sales x 365 2009 = 887 / 20060 x 365 0.044 x 365 16 days   Ã‚   2008 = 926 / 15386 x 365 0.060 x 365 22 days This is a ratio measuring the number of days inventory is held. As a general rule, the longer inventory is held, the greater is its risk of not being sold at full value. It is calculated as: 365 * Inventory divided by Cost of Goods Sold  Ã‚  Ã‚   . In this calculation we can see that this ratio is falling down by 6 bays it’s good signed for company. Ratio to measure risk: 1. FINANCIAL GEARING: debt / equity 2009 = 20680 / 4655 4.44 2008 = 18386 / 7234 2.54 Shareholders ought to have the upper hand because if they dont that could cause them problems as follows: Shares earn dividends but in poor years dividends may be zero: that is, businesses dont always need to pay any! Long term liabilities are usually in the form of loans and they have to be paid interest; even in bad years the interest has to be paid Equity shareholders have the voting rights at general meetings and can made significant decisions Long term liability holders dont have any voting rights at general meetings but they have the power to override the wishes of the shareholders if there are severe problems over their interest or capital repayments So, shareholders like to see the gearing ratio, the relationship between long term liabilities and capital employed, being in their favour! A shareholder of company will be unhappy with this result .because the ration is going high 1.90.       2. DIVIDEND COVER: PAT / total dividend   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚   2009 = 45 / 573.6   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   0.008   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚   2008 = 1768 / 518   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   3.41    The dividend cover ratio tells us how easily a business can pay its dividend from profits. A high dividend cover means that the company can easily afford to pay the dividend and a low value means that the business might have difficulty paying a dividend. We can see in this calculation it’s fall in very biggest so it’s not a good news for shareholder. 3. INTEREDT COVER: PBIT / interest     Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚   2009 = 282 / 22   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   12.82   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚   2008 = 2371/ 23   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   103.09 The interest cover ratio tells us the safety margin that the business has in terms of being able to meet its interest obligations. That is, a high interest cover ratio means that the business is easily able to meet its interest obligations from profits. Similarly, a low value for the interest cover ratio means that the business is potentially in danger of not being able to meet its interest obligations. Calculation of these ratio gives the result is 2009 and 2008 it’s big fall in this ratio. 4. OPERATING GEARING: fixed costs / variable costs   2009 = 203 / 282 0.72 2008 = 18 / 2371 0.008 Operational gearing is the effect of  fixed cost on the relationship between sales and operating profits. If a company has no operational gearing, then operating profit would rise at the same rate as sales growth (assuming nothing else changed). Operational gearing is simple and important and often neglected. High fixed costs increase operational gearing. Calculation of these ratio gives the result is 2009 and 2008 it’s big rise in this ratio. Conclusion There is a lot to be said for valuing a company, it is no easy task. I hope that we have helped shed some light on this topic, and that you will use this information to make educated investment decisions. If you have any other questions about fundamental analysis please do not hesitate to Contact us. Ratios must not be ignored. They are still an excellent guide to performance. Conclusion should be based on the specific circumstance. In some cases, profitability ratios may be most important measure, but in emergencies, liquidity ration may be more significant. The problems and limitation involved in ration analysis should be borne in mind. References Introduction is available:   Ã‚  Ã‚   baesystems.com/AboutUs/FactSheet/index.htm Balance score card is available:   Ã‚  Ã‚   balancedscorecard.org/BSCResources/AbouttheBalance  Ã‚  Ã‚   dSc  Ã‚  Ã‚   orecard/tabid/55/Default.aspx Key facts: Defense News Annual Ranking, published June 2010 Bob Ryan (2008), financial Accounting for business, 2nd education   Ã‚  Ã‚  Ã‚  Ã‚   .uk:   Ã‚  Ã‚   cengage learning college.p. 25-35. John Wolunski and Gwen Coates (2005) A2 Business studies. Kieso, D. E., Weygandt, J. J., Warfield, T. D. (2007). Intermediate   Ã‚  Ã‚  Ã‚  Ã‚   Accounting (12th Ed.). Hoboken, NJ: John Wiley Sons, p.     Ã‚  Ã‚  Ã‚  Ã‚   1320  ISBN 0-471-74955-9. Kieso, et al., 2007, p. 1320 Kieso, et al., 2007, p. 1320 Kieso, et al., 2007, p. 1319 Roy Dodge (1997) Foundation of business accounting. NA(2009) Ratio Analysis available.www.bized.co.uk. NA(2009) Ratio Analysis calculation available:www.skymark.com NA(2009) Ratio Analysis conclusion available:   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   www.measurebusiness.com www.marketresearch.com NA(2010) about bae system available   Ã‚  Ã‚   :http:en.wikipedia.org.

Multiple predetermined overhead rates versus a single predetermined Term Paper

Multiple predetermined overhead rates versus a single predetermined overhead rate - Term Paper Example A multiple predetermined overhead rate is a system through which the product cost is estimated. This is where in every single different department in the company a single separate predetermined overhead rate is calculated and then they are summed together. This means that though if they are summed up they produce a single predetermined overhead rate they are present as independent multiple overhead rates of the company’s different departments. This type of estimation of the predetermined overhead rate is important especially in the instance where the products are heterogeneous. This is because as the products move along the various departments they receive uneven effort and attention therefore calling for the different departmental rates in the achieving of equitable and even product costs estimations. The calculation of the single predetermined overhead rate is more common in most companies’ than the multiple predetermined overhead rates. This is largely attributed to the fact tat the single overhead rate is much simpler to estimate than the multiple overhead rates. This is due to the fact that it involves a single calculation of the overheard rate of the whole company’s departments as one while the multiple overhead rates involve calculation of the rates in the different departments separately (Sherman 43). In this reason also it is thus estimated to be less of a cost in resources and time to use the single overhead rate than the multiple overhead rates. Taking for instance a survey conducted on the popularity of the use of the single overhead rate and the multiple overhead rate established that an approximate 50% of companies use both types. This can be attributed to the fact that the multiple overhead rates are more detailed and informative especially the fact that most companies conduct heterogeneous production. Job order costing Job order costing refers to a costing system in businesses that is applied to the accumulation of costs by the difference jobs it engages in, and it is mostly applied where there are various different products that are being produced per time period. It involves the calculation of the average cost per unit product which is arrived at through the tracing of costs through to