Learning Agreement Essay

Guidelines: * There are 4 sections to a Learning Agreement. You should make sure to finish each area since imprints will be granted for each segment. Areas in a Learning Agreement Comments Imprints Allocated Objective(s) This is the place you decide ‘What’ you need to gain from a specific division 15% Methodologies The ‘Strategies’ is the place you decide ‘How’ you will accomplish your objective(s) or ‘where’ you will get the data required to satisfy your learning. 15% Assessor Comments You should present this to your Manager(s) for their remarks and mark and friends stamp. (While presenting this to your manager(s), you need not show them the Students Reflections, simply your goals and systems) 5% Understudy Reflections This is the place you build up a report on your objective(s) †this is the place you can likewise build up the learning results. 65% * No piece of this report might be recreated, in any structure or using any and all means. Work submitted dependent on any of the models might be granted no imprints. AN EXAMPLE OF A LEARNING AGREEMENT Understudy Name : X Arrangement : Human Resource Department Assessor : Ms A Branch of knowledge : Health and Safety Objective To learn and watch the wellbeing and security guideline utilized in R Company for its representatives Procedures for accomplishing the target * Discuss with the Human Resource Manager in regards to the security techniques gave by R Company * Tour around the workplace to watch any dangerous condition and security techniques executed in R Company * Discuss with the staff on their sentiment about wellbeing in R Company Deadline of fruition : Y Check by Assessor and Comments [This is the place you get your Manager/Assessor to remark about your exhibition in the zone distinguished above and get him/her to sign (and stamped).] Mark and Stamp _________________________________________________________ Student’s Reflections [This is the place you expound in detail on your objectives.] It is significant that any organization to give a protected working environment to its representatives. For some organizations, security is viewed as a minor issue, however if one somehow managed to take a gander at it intently, it assumes a significant job to guarantee a sheltered workplace. This is on the grounds that a minor carelessness in security could prompt a significant catastrophe. R Company being an organization managing both neighborhood and outside clients needs to consistently require the push to guarantee that they offer protected and secure types of assistance to its clients. It is additionally important to give enough wellbeing to the representatives working there. As I would see it on the working condition in R Company, the security here is horrendously dismissed. From my actually experience, I had harmed my toe more than twice during my 5 months there. This is on the grounds that all the documents are designated on the floor and because of the little strolling space, it is simple for anybody to kick the records and causing injury. The principal motivation behind why the records are set on the floor is on the grounds that absence of room in the file organizers. The subsequent explanation is a direct result of the staff themselves, they place the records that they need on the floor around the work area. A condition, for example, this is dangerous to the representatives since it will decrease that mobility in the organization. The staff will experience issues strolling around and might harm themselves due to the records being set on the floor. In the event that regardless where there is fire, the workers will in general surge out of the workplace. With the records set on the floor, somebody may outing and fall. Because of the surging of the considerable number of workers, the casualty may endure significant wounds and likely passing. It is consistently essential to keep all walk space address of any roadblock and is wide enough for individuals to walk securely. This is to guarantee that no one would get trip and harm themselves while working or in a crisis case. The other thing that I saw in the two parts of R Company in M City and N City is that they don't have a fire exit. The fire exit of N City branch is bolted and obstructed with boxes of old reports and handouts. I additionally saw that they don't have any fire quencher put in the workplace. This shows there are no legitimate wellbeing methods for the staff when there is a crisis circumstance. Emergency exit courses are additionally not set and shown in the workplace. Without these wellbeing things in the workplace, it tends to be unsafe when there is a fire circumstance. The workers there don't have a clue how to respond during a fire, how to abandon the structure during a fire and the information on any putting out fires gear set in the premises. At the point when I met the Human Resource Manager with respect to the act of wellbeing for the representatives, I was stunned when he revealed to me that this issue was never talked about. This is disillusioning on the grounds that I accept numerous organizations neglect to see the significance to rehearse a sheltered work environment and worry about the government assistance of its representatives. Despite the fact that a crisis circumstance is probably not going to occur in a business office, it is significant that the staff comprehend what to do when a crisis circumstance happens. Initially, it is significant that the staff realize how to respond during a fire circumstance. This is on the grounds that a fire mishap could happen whenever all of a sudden, hence it is smarter to be readied when it occurs. To be set up for this, the emergency exit course should be cleared. The administration of the organization should set up and show the crisis get away from course everywhere throughout the workplace. With this data showed, the staff would realize where to go during a crisis circumstance. The emergency exit courses ought to likewise be addressed of any issues. This is to guarantee a simple getaway way and there are no challenges utilizing it. The workplace ought to likewise be furnished with fire dousers to battle any fire circumstances. This is on the grounds that as a rule, a fire calamity can be maintained a strategic distance from on the off chance that it is managed right away. With fire quenchers set around the workplace, a minor fire can be taken care of be fore it turns crazy. I saw that in R Company there is no alarm framework. It is essential to introduce an alarm framework to caution the staff if there should arise an occurrence of a fire circumstance since it could take only a couple of moments for any fire to expend the entire structure. In this way it is best that all the workers are told promptly by the alarm and ready to abandon the premises at the earliest opportunity. At the point when all the offices and systems introduced to battle a fire circumstance, it is likewise important to teach the representatives on the best way to utilize them. A security council ought to be set up to constantly teach the representatives on wellbeing and how to respond during a crisis circumstance. The advisory group is mindful to give instruction to the representatives on the most proficient method to utilize the fire douser, distinguish the various sorts of fire quenchers accessible and which one is ideal to use in each kind of fire cause. The board of trustees can likewise direct incessant review of the working environment to guarantee that all emergency exit courses are not blocked and all fire dousers are effectively available. By leading reviews, it is additionally conceivable to recognize any fire danger in the organization and move could be made before it transforms into a catastrophe. R Company ought to likewise hold a fire drill two times every year to ensure that all representatives recognize what to do if the alarm goes off. This is to maintain a strategic distance from a frenzy circumstance which could cost lives. At the point when the staff are taught with fire drills, they would know the right method on the most proficient method to abandon the structure in a sorted out way. The organization ought to likewise give preparing to a specific number of staff in First Aid. This is in such a case that there is any mishap that happens in the work environment, the casualty could be gone to quickly while hanging tight for the appearance of the rescue vehicle. This is fundamental in light of the fact that by and large, lives were lost on the grounds that no quick consideration was given to them. This advisory group ought to likewise work intimately with the local group of fire-fighters to get familiar with any most recent data in regards to security. They ought to like wise empower visit checking of the electrical wiring in the organization since wires will in general wear off throughout the years. Despite the fact that the Tourism business as a rule manages travelers and giving them the best administrations accessible, it is additionally essential to guarantee that security of the vacationer. To do so it is ideal to begin with the organization. This is on the grounds that without the worry of wellbeing in the workplace, how it is normal that the security of the clients can be ensured. Regularly numerous individuals ignored the issue of security in their workplace since it once in a while occurs, however remember that mishaps occur without a notice and it is in every case better to be set up for it.

Leadership in Health Care System

Question: Talk about theLeadership in Health Care System. Answer: Presentation Authority is portrayed as the way toward coordinating a gathering of individuals towards accomplishing a shared objective. The most significant parts of initiative is affecting the gathering in the best way and managing the progressions that emerge (Planting the Seeds of Diversity, 2013). The medicinal services framework is made out of various experts, claim to fame gatherings and divisions. In such complex settings it requires key authority style that will have the option to facilitate all the exercises. In such enormous associations clashes are bound to develop due to various subcultures that exist. Authority in this manner need to address all the territories of decent variety inside the social insurance framework and use assets all the more productively when thinking of the administration procedure to support or drive the whole group to progress in the direction of shared objectives. There are a few initiative styles that can be applied to oversee key changes in social insurance. Transformational initiative is a style that goes past the typical authority of oversight and dealing with the gathering execution as it demands the rationale that if colleagues are engaged in a crucial need to work in a progressively powerful way. It requires the pioneers to impart obviously their dreams such that bodes well, makes joint effort, solidarity and its all the more energizing to the individuals. A pioneer as the fundamental component of progress in the association needs to make the gathering individuals to concentrate on the vision of starting change inside the association through engaging them and going about as their guide (Al-Sawai, 2013). Through their capacity to impact disposition they can spur the individuals to progress in the direction of the adjustment in the association this can be in type of remunerations that point out the acts of kindness. In the human services setting such pioneers progress in the direction of group accomplishment instead of from singular a ddition. Communitarian initiative is another style that can be utilized to plan on change in the medicinal services framework. Joint effort works with regards to collaboration among people cooperating towards common advantage. Collective pioneers impart data plainly to their associates and the general associations group so as to permit them to make their own feelings on the current issue (Al-Abri, 2012). This style is relevant when starting change since it supports conferences between the partners so as to share thoughts, encounters and information consequently diminishing the multifaceted nature levels inside the medicinal services framework. This type of authority makes a stage where people with various obligations can be capable approve and convey their should have the option to recognize the territories where change is required. The joint effort advances common comprehension among the distinctive culture gatherings and permits the incorporation and connections among the various partners ( Al-Abri, 2012). In this style its the common qualities and dreams that hold the colleagues together to accomplish far better outcomes than it would have been done exclusively. A pioneer can't have the option to impact change in the association without the group power and the responsibility from the kindred collaborators from the earliest starting point. End Since change requires obviously arranged out strategy to be followed the group chief ought to be prepared to assume the liability completely. Transformative authority style is most appropriate when leading changes in the human services association. Here the pioneer goes about as the principle operator of progress in the framework and makes all the colleagues center around one vision given their capacity to impact demeanor in the association. The pioneer controls the group through the change and notes any regions that should be tended to and gives arrangements. References Al-Abri, R. (2012). Overseeing Change in Healthcare. Oman Medical Journal, 22(3), 910. Al-Sawai, A. (2013). Authority of Healthcare Professionals: Where Do We Stand? Oman Medical Journal, 28(4), 285287. https://doi.org/10.5001/omj.2013.79 Authority in Medicine Building Ethical Healthcare Organizations. (2012). Initiative In Health Services, 25(3). https://dx.doi.org/10.1108/lhs.2012.21125caa.008 Planting the Seeds of Diversity. (2013). JOM, 65(7), 807-807. https://dx.doi.org/10.1007/s11837-013-0650-z

Celebrities That Are Good Role Models Free Essays

The world through the eyes of some can be taken a gander at as a mirror. From birth we are creatures that are continually viewing. Children and children watch everything that is placed before them; guardians, kin, TV, and different children that are near. We will compose a custom paper test on Famous people That Are Good Role Models or on the other hand any comparative theme just for you Request Now This is particularly evident with regards to VIPs. Consistently in the advanced world we as a general public are presented to the media, which reveals to us that superstars can be seen as fortunate or unfortunate good examples. There are numerous famous people that can do beneficial things for the world and model conduct that is decent; through this we as a general public can reflect that conduct in our regular day to day existences. One VIP who is an incredibly gifted model and anchor person, Tyra Banks, can be a model for ladies and minorities the same. She is host of the UPN/The CW unscripted tv show and America’s Next Top Model, just as the co-maker of True Beauty. She likewise has her own television show, The Tyra Banks Show. A couple of beneficial things that Tyra has accomplished for society to show incorporates shaping the Tyra Banks Scholarship in 1994, which advances welcoming cards under Children + Families Organization to help mishandled and disregarded youngsters. Tyra took an excursion to Costa Rica rainforest to emerge the world’s consideration about jeopardized environment. As a model, Tyra tested weight segregation by publicizing her bends as opposed to concealing them. One can see instances of this in her book titled Tyra’s Beauty Inside and Out. This book does anyway share excellence privileged insights that she has gained from specialists, she offers down to earth guidance on healthy skin, beauty care products, hair, exercise, and design. What she likewise addresses in this book are not kidding subjects, for example, substance misuse, sentimental connections, sexual concerns, and being a finished individual. She endeavors to advance positive mental self portraits for young ladies everything being equal and body types on her shows also; â€Å"Why would we say we are so fixated on weight? † she said. When Tyra Banks went on her show in her swimsuit and stated, â€Å"’Kiss my fat ass†¦ ‘ That’s what I feel at this moment. I’m like, ‘Kiss my fat ass! ‘† she puts her center finger to the individuals who need to say anything awful regarding individuals who are greater than a size 2. Another model from one of Tyras’ shows which displays ladies having a solid self-perception, in scene Better Body Image, Tyra attempts to help change three youthful women’s contorted impression of their bodies. Through this we as ladies and anyone who feels that they are diverse can take a gander at Tyra and a portion of similar advances that she has in advancing acknowledgment all through the world and we can apply this in our regular day to day existences. There are additionally numerous different big names that can help the open mirror great conduct. One significant who is profoundly dynamic in doing altruistic things is the lead vocalist from U2, Bono. Bono composes most verses which utilizes political, social, and strict themes. In the tune, â€Å"Sunday Bloody Sunday† ‘I can’t accept the news today I can’t close my eyes and cause it to leave How long, to what extent must we sing this melody How long, to what extent Tonight we can be as one, today Broken containers under children’s feet Bodies flung over an impasse street†¦.. ’ Bono addresses the 1972 Bloody Sunday slaughter, in which 26 social equality nonconformists were shot. In these verses we can envision and feel what Bono is imparting, the bitterness to start with, and the depiction of the slaughter towards the end. One can have more attention to the world by tuning in to verses just as having an outlet in the midst of disaster. There are several tune verses by the Band U2 that feature issues of the present reality that is only one. He has gotten one of our most popular altruistic entertainers who has incredible assorted partners which change from government pioneers, strict pioneers, mainstream media, and even worldwide associations. In models through the association DATA, planned to take out destitution and AIDS/HIV in Africa, additionally focused on American residents to get proactive and voice their assessments with respect to political and social issues by reaching congresspersons and assemblies. Item Red is likewise something advanced by Bono which fund-raises for the Global Fund to Fight Aids, Tuberculosis, and Malaria. Item Red is cooperated with significant organizations and when the organizations sell things with Product Red logo on it, the assets go to the Global Fund. We as a general public can take a gander at Bono, and what he elevates to make us fully aware of the present circumstance of the world and simply be progressively mindful. We as a general public are additionally ready to take a gander at Bono when all is said in done and model/tune in to his causes, bolster his causes by purchasing Product Red, and even become activists ourselves. With famous people having the significant compensations that they do, they can do more with their cash than the normal individual. A cause, being a distinctive model in superstars utilizing cash to support the world, is another way we can admire VIPs and model their great endeavors. One celeb significantly, incorporates the vocalist Pink. Pink is associated with numerous causes including Phoenix vert, Human Rights Campaign, ONE Campaign, Prince’s Trust, New York Restoration Project, Run For The Cure Foundation, Save the Children, Take Back the Night, UNICEF and World Society for the Protection of Animals. Pink was perceived as a backer for the RSPCA in Australia. Pink likewise reported she was giving $250,000 to the Red Cross Bushfire Appeal to help the survivors of the bushfires that moved through the Australian territory of Victoria. A sum of 173 individuals were affirmed to have kicked the bucket in the flames with around 500 harmed, the loss of life was assessed to be 210. Noble cause are not something that everybody on the planet can add to nonetheless, rich or poor we as a general public can chip in at nearby foundations in our neighborhoods and on the off chance that we have the methods we can even add to them. Hence demonstrating that we are for the most part ready to look all through the media and at famous people and model their great doings. The world can be seen as a brutal spot; there is passing, sickness, starvation, executioners, and that's only the tip of the iceberg. The most anyone can do is remain positive and welcome the beneficial things that happen. In pretty much every story there are heroes and miscreants, some truly naive can follow an inappropriate way, they can likewise show the heroes. The heroes in our advanced period, being famous people that do a great deal of good and we as a general public, can follow their great activities and do great our selves. Some state it is inescapable, we are only continually in a universe of mirrors, simply imitating all that we see, hear, and read. For whatever length of time that it generally doesn’t advantage ‘number one’ then I think it’s something to be thankful for that we see incredible things being practiced that way we can endeavor to do extraordinary ourselves. Step by step instructions to refer to Celebrities That Are Good Role Models, Papers

Explication of the Price Discrimination Concept - 2200 Words

Explication of the Price Discrimination Concept (Essay Sample) Content: Price DiscriminationNameInstitutional AffiliationPrice DiscriminationEssay 3A firm operating in a competitive market is forced to accept the market price; however, a monopoly can set a price that maximizes the profits earned by that business. Price and quantity are adjusted according to the elasticity of demand for a certain product. Price discrimination is experienced when a company charges a different price for the same good or service to different customer groups, for other reasons other than costs. There are three types of price discrimination. Firstly, the first-degree price discrimination, also known as perfect price discrimination is experienced when a firm charges a different price for a unit consumed (Arnold, 2010). The business can charge the maximum possible price for every unit produced, which enables the business to capture consumer surplus for itself. Such form of price discrimination is rare. Source (Arnold, 2010).Additionally, there is the second-degre e price discrimination, which implies charging different prices for different quantities. For instance, quantity discount for making bulk purchases. Lastly, there is third-degree price discrimination, which involves charging different prices for different groups of consumers.There are necessary conditions for price discrimination to be successful. Firstly, the firm should identify the various segments of the market, like industrial and domestic users. More importantly, these different market segments should have a different price elasticity of demand. Further, the market should be kept separate, either by nature of use, physical distance or time. As well, no seepage should exist in the two markets suggesting that consumers cannot obtain goods at a reduced price in the elastic sub-market, and later re-sell to other customers in the inelastic sub-market, at an increased price. Lastly, the firm should have some monopoly power.Price discrimination is worth undertaking if the revenue ear ned from segregating the markets is higher than from maintaining the markets combined. However, this depends on the relative price elasticity of demand in the sub-markets. Therefore, customers operating in the relatively inelastic market segment are charged more whereas those in the relatively elastic segment are charged less. With ideas of maximizing profits, firms set price and output where MR=MC. If the firm operates in 2 submarkets manifesting different price elasticity of demand, such firm increases its revenues by depending on the slope of the demand curve (Arnold, 2010). In regards to this, for adults, the price elasticity of demand is inelastic, and this makes the prices higher. Conversely, for students, the prices are lower due to elastic demand.Today, electronic commerce is growing rapidly as information technology becomes more robust creating some innovative pricing strategies have been developed. Dynamic pricing has been applied more widely across a variety of industries , and its application is increasing among retailers. Although price discrimination is a legitimate attempt by the sellers and producers to charge different prices for similar products basing on consumer demand, it can be illegal in some cases. For instance, it is regarded as illegal for manufacturers to charge different prices for any anticompetitive purposes.Presumptively, the law allows sellers to charge prices as they choose when addressing their various customer groups. The majority of the vendors would resent any efforts aimed at restricting their discretion to charge their prices for different sales. In the contemporary market economies, businesses decide for themselves the prices they should charge for the products and to whom they should make sales. This aspect contradicts the fundamental principles of market economies to regulate the price charged by sellers for their products or impose regulations that are not allowed to change their prices for similar goods when selling them to different client bases. The general rule is that sellers are permitted by law to practice price discrimination, except when applying it to create a substantial risk of injury to competition.Regarded, as a rule, price discrimination becomes illegal under the antitrust provisions when it threatens to undermine the conventional processes of competition in an affected market and meet certain criteria of the statutes of price discrimination. There are three types of harm to competition that resonates from price discrimination. Firstly, the primary-line injury. Arguably, this form of price discrimination proves challenging under the contemporary standards that it should be eliminated from the list. It is experienced when sellers use low prices to undermine their own direct competitors through underselling goods until they get ruined. Additionally, price discrimination is considered illegal when the sellers low prices to the favored clients allows the client to undersell, hence des troying their own direct competitors. Lastly, price discrimination is considered illegal on the tertiary line of harm. This illegality in price discrimination is experienced in downstream markets when the low prices imposed by sellers to the favored customers allows such favored customers or even its own customers to undersell; hence ruining the disfavored customers customers.Under the federal law, the Robinson-Patman Act governs the offense of unlawful price discrimination and condemns price discrimination only when it threatens to injure competition. There are some affirmative defenses to a price discrimination claim. Although a claimant might make one of the aforementioned instances, a seller accused of price discrimination can absolve himself by proving that he offered the preferred prices for compelling commercial endeavors. Moreover, he can defend himself that he offered the low price to the favored clients with ideas of matching prices set by his competitors. Lastly, he can m ention that the preferred customer base that purchased large quantities of the products, so that he attained economies of scale on the purchases and could reasonably charge lower prices per unit as the costs per unit were reasonably low. However, a favored customer who forcefully induces price discrimination might remain responsible for inducing many sellers to give it preferred prices, although each seller might be excused on the ground that it just matched the prices offered by other vendors (Hubbard O'Brien, 2013).Further, a seller can avoid the claim for unlawful discrimination by proving that he offered the lower prices to a favored customer for a pro-competitive purpose that justifies the harm caused to competitive processes in the affected submarket. Better still, the seller can be pardoned upon proving that he offered the lower prices to match comparable prices provided by rival sellers or by proving that he did so because the preferred customer makes huge purchases of his products that he enjoys massive economies of scale on the sales.Price discrimination has a substantial impact on many establishments. Firstly, firms engage in price discrimination to produce a greater quantity of output. Since the firm charges different prices to varying groups of customers, it attracts more buyers who are ready and willing to pay a small price without necessarily sacrificing profits from potential buyers willing to acquire the product at a higher price. Through selling to the two groups at different prices, the business increases the quantity of products it sells; hence more profits. Majorly, the reason for price discrimination is boosting sales, which reflect increased revenues. Through charging different prices, businesses are able to capture more customer surplus. Such an additional customer surplus adds to the enterprises producer surplus.In the case of increasing monopolys profits, I would consider a monopoly operating in a perfect price discrimination. Such c ompanies prices their products to equal what the customers are willing to pay. Since monopolies can never practice perfect price discrimination, it simplifies the analysis, as its marginal revenue curve parallels the market demand curve. In this regard, for a competitive firm, marginal revenue equates the market price. The competitive firm will produce until market price equals marginal cost (Hubbard O'Brien, 2013). Under perfect price discrimination, the market demand curve coincides with the marginal revenue curve, so the monopolist produces until the price of the product equates the marginal revenue. This increases the price to a great extent, and also maximizes allocative efficiency as the price parallels marginal cost.Although price discrimination has many advantages to a firm, certain requirements make it effective. There must be differences in price elasticity of demand in the different groups of customers. Then, the firm should charge higher prices on the consumer group wit h more price inelastic demand. Conversely, the firm should charge a lower price to the consumer group experiencing elastic demand. Further, some requirements resonate from barriers to prevent customers from switching suppl...

6 Top-Ranked Vermont Colleges and Universities

Rise Fall of Arthur Andersen, LLP - 1016 Words

March 4, 2014 Rise Fall of Arthur Andersen, LLP Abstract Enron was a natural gas company that was formed in 1985 by Kenneth Lay. By 1992, Enron was the largest selling company of natural gas in North America. In October 2001 a scandal involving Enron was emerging. This scandal led to the fall of the company. The Enron case and many others cases led to the collapse of other companies that did business with them which included one of the largest accounting firms in Chicago; the accounting firm of Arthur Andersen. This paper will discuss the rise and fall of one of Chicago’s top accounting firm and how greed and dishonesty can destroy and company and a good reputation.†¦show more content†¦Soon after Bernardino’s resignation WorldCom which was a major audit client of the Andersen Accounting firm admitted to cooking its books to the tune of $3.8 billion. This incident along with other Andersen clients began a wide range of investigations to come. (Chicago Tribune, 2002) Outcome After years of being developed into a successful accounting business in Chicago, a company that Andersen was involved with had a scandal brewing. This scandal went on to become one of the largest scandals in the business community. It stemmed from a company called Enron which was a natural gas company out of Houston, Texas. In November of 1997, Enron buys out a partner s stake in a company called JEDI and sells the stake to a firm it creates, called Chewco, to be run by an Enron officer. Thus begins a complex series of transactions that enable Enron to hide debts. In February 2001 a story breaks calls Enron a largely impenetrable company that is piling on debt while keeping Wall Street in the dark. August of the same year the CEO of Enron resigns. October 12 of the same year Arthur Andersen’s legal counsel instructs workers who audit Enron s books to destroy all but the most basic documents. By the end of the year the Securities Exchange Commission had launched an investigation on Enron and Andersen Accounting. The United States Justice Department went on to indict Arthur Andersen accounting firm of obstructionShow MoreRelatedCorporate Scandals and the Sarbanes-Oxley Act of 20023268 Words   |  14 Pagesas auditors to identify and prevent the publication of misrepresentations in the financial statements of the companies that they audited. The most commonly known accounting firm that was involved in the corporate scandals of the past decade is Arthur Andersen. These corporate accounting scandals resulted in costing investors billions of dollars when the share prices of the affected companies collapsed. In response to the public outcry regarding loss of investments through these scandals, Jain andRead MoreEnron Case7190 Words   |  29 Pagesbusiness in an unethical manner in its attempt to retain the loyalty of Enron executives. Current laws and SEC regulations allow firms like Arthur Andersen to provided consulting services to a company and then turn around and provide the audited report about the financial results of these consulting activities; therefore making an â€Å"independent audit† by Arthur Andersen independent in name only. Our legal system allows companies like Enron to manage their own employee pension funds, producing a conflictRead MoreAccountants Liability to Third Parties7127 Words   |  29 PagesRICOs Sec. 1962 (c) is limited to those who participate in the operation or management of the enterprise itself, and has generally excluded accounting firms from liability, reasoning that their conduct remained that of an outsider and did not rise to the level of management participation. The most significant statute in the modern era to the issue of accountant liability is the Sarbanes-Oxley Act of 2002 (SOX), which created a new federal regulatory scheme affecting accountants and corporateRead MoreCase Analysis : Inc Al1433 Words   |  6 Pagesthe SEC charged the CEO for violating federal laws by misrepresenting material information and settled by paying portion of the $141 million, while former controller and chief accounting officer each agreed to pay $100,000 in fines, as well as Arthur Andersen settled for undisclosed amount (pp.8-10). CENDANT CORP. (1997) Ahmad et al. (2013) indicated that as a result of the merger of HFC with CUC International and formed Cendant Corp but, it was revealed that CUC overstated revenue by $500 millionRead MoreThe Formation Of Garrison Litigation Management Group3428 Words   |  14 PagesReorganization: In the late 1995 Joseph Andolino an Officer and Vice President of Coltec Group convened a meeting with Arthur Andersen, Coltec’s accounting firm and auditor, to discuss overall tax planning. Andolino wanted to discuss between other things â€Å"an anticipated $240 million of capital gain that Coltec might realize if and when Holley Automotive was sold.† At the end of the meeting an Arthur Andersen partner mentioned his knowledge of Coltec significant contingent liabilities and knew another company hadRead MoreEnron Scandal9449 Words   |  38 PagesThe Enron scandal, revealed in October 2001, eventually led to the bankruptcy of the Enron Corporation, an American energy company based in Houston, Texas, and the de facto dissolution of Arthur Andersen, which was one of the five largest audit and accountancy partnerships in the world. In addition to being the largest bankruptcy reorganization in American history at that time, Enron was attributed as the biggest audit failu re.[1] Enron was formed in 1985 by Kenneth Lay after merging Houston NaturalRead MoreRoyal Ahold N.v : A Large International Company Based Out Of The Netherlands Essay1804 Words   |  8 Pagesthese high demands there was also an incentive compensation plan set in place that awarded huge bonuses. With these high expectations set and a decentralized work environment at Royal Ahold, fraud flourished quickly. With Royal Ahold s fast paced rise to the top of the industry, everything came to a halt when Deloitte (Royal Ahold s auditors) suspended the 2002 audit of the company when Royal Ahold’s fraud finally came to the surface. The massive fraud affected many different parties. Ahold improperlyRead MoreWhy Do Audits Fail Evidence from Lincoln Savings and Loan13093 Words   |  53 Pagesauditors were Arthur Andersen, Arthur Young (later Ernst and Young), and Touche Ross (later Deloitte and Touche). Civil litigation setmillion tlements were as follows: Ernst and Young-$63 million, Arthur Andersen-$23 million (based on court records). Ernst and Young also and Deloitte and Touche-$7.5 settled with the holder of the FSLIC s claims, the Resolution Trust Corporation (RTC), for approximately $40 million (Sansweet and Thomas [2/7/91]). The settlements between the RTC and Arthur AndersenRead MoreEnterprise Risk Management3381 Words   |  14 Pagesfirms, investors, lenders, corporate managers and innocent bystanders were all embroiled in the chaos with the extent of corporate malfeasance being indeterminable. Collateral damage inflicted by scandals involving corporations such as Enron, Arthur Andersen LLP, WorldCom, Adelphia Communications, etc, was shocking. The occurrence of such business and audit failures led individuals in a state of contemplation. How did such situations occur; what could have been done to prevent them? This is where EnterpriseRead MoreThe Five-Minute MBA: Corporate Finance Book 17907 Words   |  32 Pagespro rata liability in the event the partnership goes bankrupt, the remaining partners must make good on the unsatisï ¬ ed claims, drawing on their personal assets to the extent necessary. Today (2002), the partners of the national accounting ï ¬ rm Arthur Andersen, a huge partnership facing lawsuits ï ¬ led by investors who relied on faulty Enron audit statements, are learning all about the perils of doing business as a partnership. Thus, a Texas partner who audits a business that goes under can bring ruin

My Magic Hand free essay sample

Purple in the cold weather, and red year round: that is the color of my hand. I like to think of it as my â€Å"magic power†: that my skin can change color with the weather, and that I can predict when it’s going to be cold out. But really, I was just born with a port wine stain on my hand. I never actually noticed the red mark on my hand until one of my friends pointed it out to me, back in the third grade. (I guess that was pretty inattentive of me, being that it’s on the back of my hand.) At first, I became very self-conscious about it; I always thought people would make fun of me because one of my hands was red, and that they would think I had a disease. Like my older sister; she’s always looking for an opportunity to humiliate me. We will write a custom essay sample on My Magic Hand or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page This one time at a family party, all of the cousins, including myself, were swimming in my aunt’s pool. Once our lips started turning blue and our teeth started chattering, we all got out. And, since my body was cold, my hand turned purple, as it always does when the temperature drops. My sister, finding this the perfect opportunity, announced out loud to everyone â€Å"Hey look! Kristen’s hand is purple.† So of course, everyone looked at my hand, and I got embarrassed and ran away crying. It wasn’t until I started becoming super self-conscious about it, (like pulling my sleeves over my hand to cover it up), that my mom told me it was nothing to worry about. She showed me pictures of other people who had port wine stains, and it relieved me to see that I wasn’t the only one. And it also made me realize that mine wasn’t half as bad as some other people’s: some people have big ones across their faces. This new knowledge about my â€Å"stain† made me embrace it. I started telling myself that I was special because of this: that I was magical. Thus began the era of my having magic powers. When winter would come around, I would â€Å"amaze† my friends. I would say something about how my hand turns purple when it’s cold out, and then whip it out. They would all â€Å"ooh† and â€Å"ahh† in amazement, and I would feel like the coolest fifth grader around, (with magic powers). But, as time carried on, I grew; as did my stain. And it didn’t grow as in, getting redder and bigger, but it grew with my body, and spread until it almost faded away. It’s almost like my powers are fading; although, my hand still turns deep purple in the winter. Even if not totally visible anymore, my â€Å"powers† will always be a part of me.