Power Of Culture On Public Displays Of Affection - 1423 Words

Power of Culture on Public Displays of Affection: An Observation How do you display affection? Some people detest PDA – public displays of affection – with a furious passion whereas others embrace their fondness and feelings to their partner in public. What causes this disparity in sentiments towards displays of romance? Are characterizations of affection defined by bodies of location, culture, and time? To begin developing theories regarding those topics, a pair of observations was conducted in a local park investigating couples and their presentations of romance. By analyzing the parkgoers’ reaction to public displays of affection in Deep Cove, a deeper understanding of how culture influences affection and romance can be hypothesized.†¦show more content†¦The first observation occurred during an unusually warm autumn afternoon. Clear, blue skies illuminated the park as red, orange, yellow, and brown leaves distinctively marked the ground. Vibrant activ ity and noise permeated throughout the park: hikers, kayakers, paddle-boarders, and dog-walkers, the park was bustling with people. Moreover, many couples were present. Data collection, therefore, went incredibly smoothly during that day. In fact, many observations were missed due to the overwhelming amount of activity happening. Within a week’s time, the weather quickly changed. The amount of data collected during the second observation, therefore, significantly decreased compared to that of the first outing. Temperatures dropped 20 °C and the clear blue sky was replaced with a dull grey fog. Along with the early wave of winter weather, flurries of snow gently immersed the sky before melting on contact with the ground. Unsurprisingly, the park was empty and almost no data regarding affection and romance was collected. As a result, most of my analysis and reflection will describe events observed during the first observation. Before analyzing the circumstances at play during the observations, it is necessary to describe how I characterized the sexuality and sexual identity of the observed couples. The sexuality of those engaging in public displays of affection was based off traits that constitute the sexual identity of the lovers. ToShow MoreRelatedEssay on The Citadel1279 Words   |  6 Pagesor showing any type of unmanly emotion. As a whole, the public does not realize that society has a tremendous impact on the actions of men. Because of these expectations held, men are forced to become the image that the world views as proper. Using James C. Scotts essay, Domination and the Arts of Resistance, and Susan Faludis, The Naked Citadel, the connection between the image that men are expected to maintain by the general public and the behavior of the cadets at the Citadel is revealedRead MoreEssay on Truly a Great Disappointment Questions1103 Words   |  5 Pagesmanagement styles of two distinct nation al cultures? What other factors could be influencing attitudes displayed in the case study? Austrian Communication French Communication Austrian’s enjoy quiet and privacy French bosses favour a dictatorial and authoritative leadership style Austrian behaviour in public is usually reserved and formal French express themselves with more gestures and emphasis Public displays of affection limited Public displays of affection emphasised Personal contact is rare betweenRead MoreThe Importance Of Choosing And Completing An Experiential Learning Task1662 Words   |  7 Pageswould you realize? Habits have this insurmountable power that can shape every aspect of our lives. From the way we dress, to what we eat, to how we communicate can all reflect back to comfort, personality, and routine with controlling aspects in our lives. We act this way because society believes it is acceptable or we dress this way to remain professional in the workplace. It’s possible this thought process could be translated towards culture since this identifiable factors can relate to our personalRead MoreAnalysis of Desiree’s Baby by Kate Chopin1328 Words   |  6 Pagesrelationship structure to occur and helped shape the events following the discovery of the child being black. Armand’s role of master over the plantation workers was based on skin color and his birthright to the plantation which was reflective of South ern culture during the time period (Toth). It is abundantly clear that Desiree’s Baby serves as a microcosm of how societal hierarchys and traditions that are rooted in elitist prejudice have a poisoning effect on those who are entangled in their grip. Desiree’sRead MoreGender Inequality In Hamlet1261 Words   |  6 PagesAs I perused through CNN, an article titled â€Å"Why China has so few female leaders† caught my attention. According to the article, The Baju Culture, discriminatory policy and the anti-feminism were the reasons China only had two female leaders. However, when observing the world trend, it seems many opportunities and resources are granted to women. Many articles of The New York Times reveal young women as being less dependent on men, higher achievers, ahead of men in education, receiving higher earningsRead MoreThe History and Patterns of Interracial Marriage and Families in the United States1229 Words   |  5 PagesLovings, aided by the American Civil Liberties Union, who able to overturn the law, arguing that it violated their Fourteenth Amendment rights. Different generations within the US public have very differing views of interracial couples, usually a polarized view of either cultural con servatism or egalitarianism. But the public at large has still yet to overcome the taboo, part of the reason behind the currently small rates of interracial marriages. Even though, since the courts decision, America hasRead MoreGay Marriage Shouldn t Be Something That The State Is Against Seeing As It1675 Words   |  7 Pagesagainst seeing as it is a personal matter. Gay and lesbian people are well-abiding citizens that are productive members of society so why shouldn’t they be afforded the rights the so many others enjoy in this country? The focal points of American culture are life, liberty, and the pursuit of happiness so it’s interesting to see that in Texas that statement has apparent limitations. Throughout the different parts of America there are many examples of subliminal discrimination against the LGBT CommunityRead MoreInfluence Of Media On Adolescents933 Words   |  4 Pagesmedia, sexualized intimate behaviors take place in the public sphere every day a s well. Sexual media content is frequently held accountable for minors’ early engagement in sexual activities. While there are large amounts of research on the influence of media on adolescents, there is a deficiency of investigation of media impact on adults, in addition to the insufficient amount of research on people’s attitudes toward public display of affection (PDA). With the shortage of observation in these areasRead MoreAashirya Is A Charismatic And Energetic 58 Year Indian Woman Working1635 Words   |  7 PagesChristianity. She believed in honoring her religious beliefs, its customs, and traditions. Elements of Communication Aashirya’s culture was very different and presented various challenges for some of the people she met. She was fun loving and easy to talk to however some felt that she seemed to disapprove of traditional greetings like shaking hands or forms of affection, (hugging). Indians, conduct handshakes with their right hand; their left hand was used for their toilet routines and as such itRead MoreThings Fall Apart By Chinua Achebe1354 Words   |  6 PagesChinua Achebe’s novel Things Fall Apart describes the colonization of the Ibo tribe by a group of white missionaries. The text details the life of Okonkwo, a successful yam farmer with many wives and great power in his village, from his early adulthood to his untimely death. In the beginning, Achebe presents the readers with Ikemefuna, a young boy from the neighboring Mbaino tribe, sent to Okonkwo’s household as punishment for murdering an Umuofian woman. Ikemefuna integrates into the family rapidly

History of Fiscal Administration and the Theory and...

HISTORY OF FISCAL ADMINISTRATION AND THE THEORY AND PURPOSE OF TAXATION Introduction Fiscal Administration is not difficult to define. In simple terms, fiscal administration is the branch of economics that deals with the revenues and expenditures and their impact on the economy. It is the manner of collecting something from the constituents and spending it also for the constituents. And the exact definition according to http://www.wisegeek.com/what-is-fiscal-administration.htm, fiscal administration is the act of managing incoming and outgoing monetary transactions and budgets for governments, educational institutions, nonprofit organizations, and other public service entities. Constituents charge leaders, whether†¦show more content†¦For after all, public finance raises and spends revenue for the functions of the state. These functions have been changing with the development of the society. Thus, tracing the development of public finance institutions necessitates an examination of the development of organized society itself. Early Public Finance If we are to trace the origins of public finance institutions, we would probably start with the beginnings of the state under the slave societies. Under the primitive societies, there was not probably much public finance to speak of. The primitive tribes were on subsistence basis, with hardly any surplus. Whatever was acquired form hunting and fishing was immediately consumed. Battles over territories, the capture of defeated tribes who were turned into slaves, te development of settled agriculture and rudimentary advances in the production of goods led to the great empires of Asia, Africa and Europe. The early public finance institutions of these slave societies served as foundations for modern institutions and practices. Ancient public finance provided some of the basic instruments of public financial management. Medieval public finance further refined some of these concepts, distilling their basic aspects by an expanded application to medieval public goals and conditions. It also introduced some basic tools like accounting and auditing. The idea of financingShow MoreRelatedEquity: Tax and Adam Smith Essay2030 Words   |  9 PagesIntroduction This piece of eassy will contain two sections. In this part of the eassy I will discuss the meaning and importance of equity in taxation since Adam Smith included it as one of the Canons of taxation. Equity is defined as â€Å"redistributive taxation induces allocative distortions by driving a wedge between the price the consumer pays and the price the producer receives† (Begg et al. 2005, p.219). There are two types of equity to be considered: the horizontal equity, and vertical equityRead MorePublic Borrowing in the Philippines2777 Words   |  12 Pagesinstead of taxation. [2] Origin of Public Borrowing [4] Mercantilist Period (1500-1750) European economists between 1500 and 1750 are considered mercantilists. This is the era of merchant capital, dependent on connections between social and productive systems. [4] Mercantilism started it all, during this era colonies were established and mercantilist trade was a great tool used for the control and accumulation of gold and silver bullions [5], the idea of financing was born for this purpose. AdamRead MoreIca Gh Syslabus26672 Words   |  107 PagesQuantitative Tools in Business Audit and Internal Review Business and Corporate Law Principles and Practice of Taxation PART 3 3.1 3.2 3.3 3.4 Financial Reporting Public Sector Accounting Cost and Management Accounting Financial Management PART 4 4.1 4.2 4.3 4.4 Advanced Financial Reporting Advanced Audit and Professional Ethics Corporate Strategy and Governance Advanced Tax Planning and Fiscal Policy Review of Qualifying Examinations Syllabus May 2010 Proposed Transitional Arrangements 1 2 3 4Read MoreFactors Affecting Tax Compliance of Small and Medium Scale Enterprises in the Advent of the Eac Common Market.1751 Words   |  8 Pagescompliance has been a topic of great interest to Revenue authorities especially in the developed countries. Hostility towards tax compliance is an age old problem. â€Å"Taxes are considered a problem by everyone. Not surprising, taxation problems date back to the earliest recorded history† (Taxworld Organization, 1999). Developing countries, perhaps due to their frequent budget deficits have not been able to conduct comprehensive research on the behavior of taxpayer in relation to compliance. Hostility betweenRead MoreEssay on A Case Study on Vat9414 Words   |  38 PagesTax System By Ajay Dongol P.U. Reg. No. 2007-2-03-0176 Roll. No. 831455 A Summer Project Submitted to: Ace Institute of Management Pokhara University In Partial fulfillment of the requirements for the degree of Bachelor of Business Administration New Baneshwor Kathmandu December, 2009 i      ACKNOWLEDGEMENT I would like to express my gratitude to Ace Institute of Management along with Mr. Prakash C. Bhattarai, our course instructor for providing us the opportunity and supervisingRead MoreSocial Security a Challenge to Public Finance1824 Words   |  7 PagesSecurity. The bill entitled the Economic Security Bill and was the starting point for Social security. (ssa.gov) Social Security was enacted as part of the New Deal. Its purpose was to provide a safety net for the elderly and their direct survivors, as well, temporary unemployment benefits. The funding was a compulsory taxation of the employed workforce in shared responsibility with the employers (Hyman 2010 p. 312). The legislation was clear on the system design during the time of creation. PensionsRead MoreCompare and Contract the Budget Processes and Systems of Fiscal Accountability in Presidential and Parliamentary Systems of Government.8193 Words   |  33 PagesComparative Public Administration PROJECT Compare and contract the budget processes and systems of fiscal accountability in Presidential and Parliamentary systems of Government. Student: Lyn Marie James Abstract There is diversity of forms of government (Laundy, 1989) and different ways of classifying them and as such, this paper sets out to discuss the budgetary powers of the legislature under different forms of government, and the environment that informed the political structuresRead MoreThe Economic Properties Of Intangible Assets9432 Words   |  38 Pagesfurther reform 19 3.1. Redefining the PE notion with closer attention to the nature of intangibles 19 3.1.1 The creation of a ‘virtual PE’ concept 20 3.1.2 Placing the ‘force of attraction principle’ at the centre of the PE definition 21 3.2. The taxation of MNEs on the basis of the ‘enterprise doctrine’ 22 Conclusion 26 Bibliography 28 Introduction The pace at which hardware, software and networks are developing allows considerable growth and value creation. The digitalisation of existingRead MoreTransfer Pricing20501 Words   |  83 PagesPricing in Developing Countries An Introduction Topics 1. Abstract 2. International tax law its sources 3. Brief history of International Tax Law 4. Who gets the pie? 5. Arm s length principle : Cornerstone of International Tax Law 6. Transfer pricing methods 7. Problems with of source taxation of MNE s 8. Internet e-commerce : Achilles heel of current International taxation regime? 9. Formulary Apportionment (FA) 10. Existing uses of Formulary Apportionment systems in the world 11. DevelopingRead MoreThe Ratification Of The Us National Constitution3020 Words   |  13 PagesThere are several watersheds in the history of United States, of which have all shaped the future of the country in a way they may have never imagined. This paper will focus on the discussion on the following three topics: The ratification of the constitution in 1787 limits the democratic freedoms that American citizens had gained right after the Revolutionary War; the New Deal Coalition and policies formed by the President Franklin Roosevelt (FDR) that prevents t he country from becoming a socialist

How Technology Changed Music - 2833 Words

Won Ho AMST 3020-090 Schacht Final Paper How Technology Changed Music John Covach, the author of What’s That Sound, distinguishes the cultural elements of pop-culture/music within four distinct categories: social, race, business, and technology. Without a doubt, all four of these traits within pop-culture have been evolving and changing ever since the emergence of any pop-culture. The cultural themes of the always-changing society, business, and technology have indefinitely changed pop-culture and vice-versa. In my essay, I want to discuss how the technology and the evolution of technology affected the growth and modernization of popular music. Undoubtedly, the most important technological achievement for the music industry was†¦show more content†¦But even cassette tapes had their time frame. By mid 1980’s, the compact disc had taken over. In 1982, Japan invented the CD and it only took less than a year for it to arrive in America. The first American CD recording release was Billy Joel’s â€Å"52nd Street† and people preferred the CD recording over vinyl and cassette for a reason (Amale16). Like technological advances have shown for any other market, it proves to be also correct for the music industry – they improve and change, because they are, for the majority, better! The quality of the recordings on CDs were superb compared to vinyl’s or tapes, they were even more compact and space saving, and plus you could even store more memory (time/songs) on one disc. And this is why it only took America three years for CDs to overtake LPs in the music-recording market. Funny enough, even CDs today are slowly fading away from society as digital formats and players are taking over. Apple’s release of the iPod in 2001 was a game changer for the music industry. It was now possible to store over a 1,000 songs on a device that weighed similar to a deck of cards. As of 2011, digital file formats such as mp3’s that are transferrable to sm all music players are now the industry standard. As widely â€Å"petite† music recording formats have become during the past century, it’s mind boggling to even think where technology will take us next. But like I’ve mentionedShow MoreRelatedThe Effects Of Music On Music Throughout History1587 Words   |  7 PagesHumanities 220 April 15, 2015 Technology: The Effects on Music throughout History Music and technology aid one another. In a way a person can capture music they love through technology and then the electronic companies flourish due to the sale and popularity of these electronic devices. If a person wants to listen to music they can turn on a stereo or TV, choose a CD or DVD to play, or listen to a songs downloaded in ITunes. All of these devices are proof to show how technology is used to record, playRead MoreMusic And Technology Aid A Another1570 Words   |  7 PagesMusic and technology aid one another. In a way a person can capture music they love through technology and then the electronic companies flourish due to the sale and popularity of these electronic devices. If a person wants to listen to music they can turn on a stereo or TV, choose a CD or DVD to play, or listen to a songs downloaded in ITunes. All of these devices are proof to show how technology is used to record, play, and change the way music is heard. A look through history will show how farRea d MoreMusic And Technology Aid A Another1415 Words   |  6 PagesMusic and technology aid one another. In a way a person can capture music they love through technology and then the electronic companies flourish due to the sale and popularity of these electronic devices. If a person wants to listen to music they can turn on a stereo or TV, choose a CD or DVD to play, or listen to a songs downloaded in ITunes. All of these devices are proof to show how technology is used to record, play, and change the way music is heard. A look through history will show how farRead MoreMusic And Electronics Aid One Another1389 Words   |  6 PagesMusic and electronics aid one another. In one way a person can capture music they love through technology and electronic companies flourish due to the sale and popularity of these electronic devices. If a person wants to hear music they will turn on a stereo or TV, choose a CD or DVD to play, or listen to a songs downloaded in ITunes. All of these device s use electronics to record, play, and change the way music is heard. A look through history will show how far society has come in music alone. TheRead MoreThe Music Of Music Videos1557 Words   |  7 PagesThe development of music videos throughout many years has changed rapidly due to the relationship between media forms and platforms of different media kind of texts. Some issues in contemporary music videos are from the evolution of new technologies, social media and politics. Thus, artists throughout time have taken advantage of music videos in order to use it as a site for debates about politics of representation. Nowadays the majority of music videos are transforming and turning into short filmsRead MoreEssay about The Cultural Change of Music1089 Words   |  5 PagesThe Cultural Change of Music The popular culture of music has changed dramatically over the course of sixty five years. Since this time, new genres of music have been introduced, existing genres have changed, and fixed stereotypes have been associated with certain genres of music. Music has become a major part of popular culture, and is portrayed almost everywhere in first world societies, including on television, radio, at shopping centers, sporting events and in every areaRead MoreSteve Jobs Role For Shaping The Modern Technology1219 Words   |  5 Pages2016 Topic: Steve Jobs role to shape the modern technology General Purpose: To inform Specific Purpose: I want my audience to know the role of co-founder and ex - Leader of the Apple Company, Steve Jobs for shaping the modern technology Thesis Statement: The three aspects of technology in which the Steve Jobs contributed hugely with breathtaking innovation and idea are: Music, Personal Computing and Smart Phone. Introduction I. [Attention getter] How many of you in this class has owned any Apple CompanyRead MoreThe Bombing Of Oklahoma City1623 Words   |  7 Pagesof most Americans. However, there is much to contemplate and deduce based on the incidence of 19th April 1995. The music industry also experienced drastic changes between this time frame and analyzing these changes is pivotal in understanding the history of America and may assist in predicting the changes to be expected within the next one decade. Evolution and advancement in technology are also a crucial part of the discussion of American history and the emergence of the digital era. It is, thereforeRead MoreCant Remember a Time Without I-Tunes Essay824 Words   |  4 Pageschange the world of music and technology (Griggs Leopold). When it first started, songs were available for instant download for only ninety-nine cents and albums for less than ten dollars. ITunes changed the way music was distributed and marketed. With the release of iTu nes, music consumers could now download music digitally with the click of a button. Consumers no longer had to leave the comfort of their home to buy or listen to a song or an album. Before iTunes and digital music, consumers had toRead MoreThe Most Common Theme Of Classic Country1361 Words   |  6 Pagesany electronic instruments added to classic country music (Aaron Lewis). Another theme in classic country performances are the outfits the artists wear. Almost every artist I researched had on a cowboy hat, cowboy boots, jeans, and a flannel jacket (Aaron Lewis). This hillbilly style look is one of classic countries most signature identities. Along with the look of the artists the farming/country land feel has become very integrated in the music itself. The classic country arts constantly sing about

Fantasy Vs. Reality Where are you going, Where have you...

Fantasy versus Reality in Where Are You Going, Where Have You Been? Where Are You Going, Where Have You Been? by Joyce Carol Oates has a constant theme of reality and fantasy running parallel for 15 year old Connie. This short story begins with a description of Connie’s vain personality. The narrator describes her as pretty and self-centered (Oates 421). To emphasize her selfishness, Connie is contrasted with her sister, June, who is chubby, plain, and well-behaved. Connie’s mother always praises June for her work ethic and help around the house, but says Connie can’t do anything due to â€Å"trashy daydreams†. There isn’t much of a father figure in Connie’s life due to her father being away for work most of the time and detached when†¦show more content†¦She tries to relate to sex through popular music that romanticizes relationships and life. The short reveals how it affects Connie when she is listening to a popular radio station, â€Å"†¦bathed in a glow of slow-pulsed joy that seemed to rise mysteriously out of the music itself and lay languidly about the airless little room† (Oates 424). Additionally, Connie felt her date with Eddie was similar to â€Å"the way it was in movies and promised in songs†(Oates 424). She felt she was living the dream and was beginning to relate to this sexualized, romantic media. In Marie Mitchell and Olesen Urbanski’s literary review of the story, they state â€Å"the recurring music then, while ostensibly innocuous realistic detail, is in fact, the vehicle of Connies seduction and because of its intangibility, not immediately recognizable as such† (1). However, Arnold Friend was quick to remind her of her young age and innocence at the end of the story. When Connie first hears a car pulling up in her driveway, her attention is immediately directed to her hair and looks. She isn’t concerned as much about who is outside or what they want, but how see will look to them. When she initially sees Arnold she is attracted to his style and car. He is muscular in tight faded jeans and a drives a bright gold jalopy. His image is everything that Connie has fantasized about and can relate to. Arnold is even playingShow MoreRelatedThe Youngest Doll1174 Words   |  5 PagesThroughout the year we have read many stories where reality and fantasy come into question. Once again we have this same problem with â€Å"The Youngest Doll†. What makes us question reality or fantasy in the story is the vivid description the author gives of the dolls that the aunt makes for the girls. With the description of the â€Å"wax mask of the child’s face† or the â€Å"porcelain of the hands and face†, it gives off the allusion that what may seem as a reality may in fact be a fantasy and it is that allusionRead MoreArnold Friend Symbolism1115 Words   |  5 Pagesâ€Å"Where Are You Going, Where Have You Been†, was published by Joyce Carol Oates. She was born on June 16th, 1938 in Lockport, New York. As an American writer, Oates published over 40 novels, as well as a number of plays, short stories, poetry, and nonfiction. Out of her works, one of her publications consisted of the short story â€Å"Where Are You Going, Where Have You Been†. This particular story was about a teenage girl, named Connie, who encounters an unknown, demonic â€Å"stranger† (Arnold Friend). ThroughoutRead MoreFantasy Rhetoric Essay1619 Words   |  7 PagesFantasy Rhetoric: Summary and Analysis of Katherine Fowkes’s Fantasy Films A Rhetoric Analysis consists of a multitude of attributes some larger than others and some not specifically require. Among those are certain attributes that are what provides the foundation of any Rhetoric work, Logos, Pathos, and Ethos or persuasive appeal. My job is to show you the other attributes consisting of the context of the argument, the authors’ attitude, and the tone of the overall work. So first I will haveRead MoreHarry Potter And The Deathly Hallows4316 Words   |  18 Pagesof 15 to 24 however younger and older audiences will also be attracted. Fans of the books and people who have followed the franchise will go and see the film. Genre is the type of film. Harry Potter and the Deathly Hallows Part 2 is an Epic Fantasy Film. This means it will have a certain common characteristics. Meaning we expect to see certain common characteristics in these films which have the same Genre. Meaning they follow conventions that are followed by each genre and codes that apply to whatRead MoreThe Portrayal Of Illusion Vs. Reality1718 Words   |  7 PagesEnglish P4 6 December 2015 The Portrayal of Illusion VS. Reality in A Streetcar Named Desire Have you ever submerged yourself into a word of illusion to escape from the cold hearted reality of the world? This theme of escaping from reality and into illusions is explored throughout the play, A Streetcar Named Desire by Tennessee Williams. What exactly is the difference between illusion and reality? An illusion is a deceptive idea or belief whereas reality is the actual state in which the world actuallyRead MoreConflicts Between Urban And Rural Life And Split Society s View On Morality1483 Words   |  6 PagesSeparate Ways by Higuchi Ichiyo was written in Japan during the Meiji period where the urbanization of cities changed rural life and split society s view on morality. Sealed Off by Zhang Ailing was written in China during World War II after the fall of Hong Kong to the Japanese. Even though the texts’ origins differ, one can see the prominent role of human relationships in both texts. Despite the failure of overcoming damage done by outside social forces, Separ ate Ways and Sealed Off’’s charactersRead MoreAnalysis Of Tim O Brien s Going After The 1804 Words   |  8 PagesPaul in Wonderland: Reality vs. Fantasy in Tim O’Brien’s Going After Cacciato On the surface, Tim O’Brien’s 1978 novel Going After Cacciato seems like a typical telling of the Vietnam War from the perspective of one of the soldiers as the Third Squad searches for Cacciato, a soldier who has gone AWOL. However, a closer reading would reveal that the vast majority of the novel does not actually take place in reality. This search for Cacciato is a fantasy which takes place in Paul Berlin’s head, andRead MoreRelationship Between The And Of The Public s Eye By Rob Kardashian And Blac Chyna1784 Words   |  8 Pageshaving a reality show makes it that much harder. So this is to Rob Kardashian and Blac Chyna, I know the both of you have been bumpy throughout your short and fast-moving relationship. Thankfully, there are ways to explain how to succeed in a relationship including duration, anxiety reduction, variability, revelation, being mutually interdependent, proximity, and the fact that relationships are systemic. However, on the other hand, i dealization vs realization, perfect unity vs journey, privacy vs opennessRead MoreReality Vs. Fantasy : Quotes Notes1705 Words   |  7 PagesReality vs. Fantasy Quotes Notes 1. â€Å"Now, then, let me look at you. But don t you look at me, Stella, . no, no, no, not till later, not till I ve bathed and rested I And turn that over-light off!(1. 18-19). Blanche is living in her fantasy that she is so young and she is good looking and she expects everyone to say that her physical appearance is very beautiful. She is not accepting the fact that she is going to get old she is not going to stay young forever. She thinks she is taking bath in someRead MoreThe Effects Of Video Games On Society1274 Words   |  6 Pagesgames can affect ones mindset in so many different ways, where we don’t even realize it. For example playing â€Å"Grand Theft Auto† for a few hours will change your mindset. Even though it wouldn’t be in a tremendous way, but for a few minutes your mindset will think, â€Å"This game is so much fun, I want to steal cars, have police chase me, shoot at people, even steal helicopters†. According to Social scientists in t he New York Times, Many studies have shown that this is becoming a major issue because of how

Macolm X Essay Example For Students

Macolm X Essay A man was brought into this world on May 19,1925 to serve his people and help them open many doors. This man started of as a nobody and is now known to the world as being one of Americas greatest Civil Rights leaders. Malcolm X Little was the 4th child born to Reverend Earl and Louise Little. He also had 3 half siblings. His dad believed in self-determination and worked for the unity of black people and tried to teach Malcolm the same way. His dad tried to raise Malcolm to be aware of his ethnic background and dignity. Violence was always sparked by white people that were trying to stop black people such as Rev. Little. (Malcolms father)After he was born his family quite a few times before he they finally settled in Lansing, Michigan. His father became active in the University of Negro improvements Assoc. he also go involved in the Black Baptist Church. Throughout Malcolms life he was dedicated to black people. I guess you could say that he followed in the footsteps of his father. Even though Malcolm, his brothers, sisters, and parents were all shot, burned out of their homes, harassed, and threatened they still fought for their freedom and for what they believed in. This culminated in the assassination of his father by the white people. When Malcolm was only 6 years of age his father was shot and died. Although all this happened to Malcolm throughout his life he still continued to go to school. HE graduated 8th grade with good grades, just as he thought his father would have wanted him to do. At the age of 15 Malcolm dropped out of school and began to learn the ways of the streets. He became acquainted with hoodlums, thieves, dope peddlers, and pimps. When he was twenty Malcolm was convicted of burglary, and he remained in prison till he was 27. While he was in prison he began to educated himself and he learned about and joined the Nation of Islam. He studied the teachings of Elijah Muhammad fully. In 1952 he was released a changed man. When he was released he went to Detroit and he joined the daily activity of the sect and was given instructions by Elijah Muhammad himself. After the teachings of Muhammad he changed his name to Al-Haji Malik El-Shabazz. His commitment helped build the organization nation-wide, while making him and international figure. He was interviewed for TV programs and by magazines and spoke across America at many different universities and other forums. Malcolms power was in his words. Here is just a few of Malcolms most powerful words. I feel like a man who had been asleep somewhat and under someone elses control. I feel what Im saying now id for myself. Before, it was for and by guidance of another, now I think with my own mind. This means he took in all the information that people said, and used it as his own knowledge. He used to listen to what people would say and learn from what they said. Then one day he woke up and decided that he was the man in control and he has enough power to fight for what he believed in. Another great speech that Malcolm made was this one:This letter showed how he visited a country where all people were treated and that they have never heard of the word racist. He thought it was so amazing that people of all different ethnic beliefs could all eat of the same plate and drink from the same glass. His experience there was so amazing that he wanted the whole world to know how it was. .u4938b8f209dbd10dfc1c79e3b56b1349 , .u4938b8f209dbd10dfc1c79e3b56b1349 .postImageUrl , .u4938b8f209dbd10dfc1c79e3b56b1349 .centered-text-area { min-height: 80px; position: relative; } .u4938b8f209dbd10dfc1c79e3b56b1349 , .u4938b8f209dbd10dfc1c79e3b56b1349:hover , .u4938b8f209dbd10dfc1c79e3b56b1349:visited , .u4938b8f209dbd10dfc1c79e3b56b1349:active { border:0!important; } .u4938b8f209dbd10dfc1c79e3b56b1349 .clearfix:after { content: ""; display: table; clear: both; } .u4938b8f209dbd10dfc1c79e3b56b1349 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u4938b8f209dbd10dfc1c79e3b56b1349:active , .u4938b8f209dbd10dfc1c79e3b56b1349:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u4938b8f209dbd10dfc1c79e3b56b1349 .centered-text-area { width: 100%; position: relative ; } .u4938b8f209dbd10dfc1c79e3b56b1349 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u4938b8f209dbd10dfc1c79e3b56b1349 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u4938b8f209dbd10dfc1c79e3b56b1349 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u4938b8f209dbd10dfc1c79e3b56b1349:hover .ctaButton { background-color: #34495E!important; } .u4938b8f209dbd10dfc1c79e3b56b1349 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u4938b8f209dbd10dfc1c79e3b56b1349 .u4938b8f209dbd10dfc1c79e3b56b1349-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u4938b8f209dbd10dfc1c79e3b56b1349:after { content: ""; display: block; clear: both; } READ: Computer Hacker (1719 words) EssayBefore his trip described in the letter above Malcolm was vehemently anti-white. He did not like whites and he believed that they were hell raisers and they had no more of a right to ridicule him than he does to ridicule them. He was taught as a child to hate whites so that is what he grew up believing. But after his trip to Abraham he came to see that all people were equal, regardless of their race. True anti-racism is color blindness. Thats what he spoke about when he returned to the US. That is another reason why he was assassinated on February 21, 1965 in New York. On February 21 he was preparing to give a speech at a New York hotel when three black men shot him. He would have turned forty in three more months. Even thought they caught the three black men that shot him they till this day still arent sure who was behind the shooting or why they did it. Throughout Malcolms life he saw and experienced many wonderful things. Generosity and open heartedness were qualities that impressed him and we gifts given to him in many places. He saw brotherhood and the brotherhood of different races and this led him to disclaim racism and to say Im not a racist? in the past he permitted himself to be used? to make sweeping indictments of all white people, the entire white race, and these generalizations have caused injuries to some whites who did not deserve to be hurt. He then no longer made sweeping indictments of any one race. If you look at Malcolms life as a whole you will see that he was born into Christianity as Malcolm Little and he died in Islam as Ma lik Shabazz. This is something to think about and I feel its an expression of legacy. He went through the transition period of the religion of the Nation of Islam, a religion of American origin borrowing some terms from the Muslim culture of the East. It appears that Malik Shabazz went through five stages in his short life. The first stage was his childhood under the shadows of his parents. Then his next stage was when he moved to Harlem, NY. While he lived in Harlem he was rowdy and got into a lot of trouble. But I believe that if it wasnt for this stage, Malcolm would have never become that man that he became. He went to prison and that time gave him some time to pull himself together. His third stage was when he lectured and gave speeches and stuff. The fourth stage of his life was when he went to the Nation of Islam. Throughout his time in the Nation he on one hand became disciplined but on the other hand he became a black racist. He did grow out of this stage, but it took him a while to get out of it. In the last stage of his youth life he shed is racist self and entered the real Islam as a result of his journey to Makkah(Mecca). I feel that Malcolm led a very fascinating life and I believe that I have never see a man that had fought harder for what he believed in than Malcolm X did. I also felt that now one went down with more dignity than Malcolm did

Income Tax as an Assesable Business Income assignment help

Question: Describe about the Income Tax for Assesable Business Income. Answer: Introduction Income tax is payable on assessable income of the party and is divided into statutory income and ordinary income (Ault and Arnold, 2010). The present report explains the standard norms needed to be espoused by organisations to comply with the Australian tax law. The different sections of the Income Tax Assessment Act 1997 are discussed in a detailed manner with relevant case laws. Part A Solution (a) Relevant laws: As per the Income Tax Assessment Act 1997 sec 6-5, the assessable income includes the ordinary income obtained during the relevant year (Australian Taxation Office, 2015). The verdict in the case of Brent vs. FC of T71ATC 4195, was that in the lack of applicable provisions for the determination of the derived income; the income is derived through the application of common and commercial principals of deriving income. Conclusion: Based on the above Law findings, the income derived by RIP Ltd. from RIP Finance is income obtained generally. In addition to this, the income obtained from the funeral plan shall be considered as activity from the funeral and pertinent activities. Solution (b) Facts: RIP Pty Ltd. is a private company carrying out the business of undertaker/funeral director. It operates out of its premises consisting of office facilities, professional rooms, assembly area and a chapel. It also has a fleet of vehicles as other assets. It earns its fees from RIP Finance Pty. Ltd. which gives credit to clients on an installment basis. If the customer pays the consented amount then the company organises deluxe funeral arrangements. However, if the customer fails to pay the agreed amount in full then it is billed as fee obtained from RIP Finance Pty Ltd. or as fee payable under an invoice of thirty days as per the instalment repayment plan. Relevant Law: Case law: Arthur Murray (NSW) Pty Ltd. vs. FCT (1965) 114 CLR 314 (Full High Court). Arthur Murray involved a taxpayer who was involved in the business of providing dance lessons. The taxpayer usually charged fees in advance of his courses. As the learners did not have any legal rights to claim refunds, the taxpayer made refunds occasionally. The taxpayer accounted such advance income as unearned deposit. The court concluded that the money obtained for services which will be given in the future shall be entailed in the assessable income of the year in which they are received and not in the year in which they are earned. Conclusion: The verdict declared in the Arthur Murray case is applicable to RIP Ltd. because the present case is also a case of income earned by funeral services. It is not applicable on any other income earned in that year (CCH Australia Staff, 2012). The case mentioned above will be applicable as the taxpayer is obtaining his fees on a prepaid basis and he is not making any refund if the student is unable to avail the lessons in the times to come. A similar concept is applicable to the clients to have stopped making payments and the company cannot expect them to make up for arrears. Solution (c) The Rule 8 and 9 of Taxation Ruling (TR 98/1) define two methods i.e. cash basis and accrual basis. Cash Basis This is otherwise known as the receipt basis method. Income is said to be derived from this method when the taxpayer receives cash or any cash equivalent. An organisation having a turnover of less than $2 million can adopt this method. The period that this method covers, is the period during which the purchases and sales are being made (Evans and Jacobs, 2010). The apparent benefit of this technique is that the cash flow can be aligned in a better way with business activity statement liabilities and therefore it becomes easier to manage the flow of cash. This method is applicable in any of the below-mentioned cases: If the income tax accounting is carried out on a cash basis, A small business which can be sole proprietor, partnership, company or a trust, making an aggregate turnover of less than $2 million in a year, A company which pays tax on a cash basis because of the applicability of the suitable law. Accrual Basis Under this technique, income is considered to be derived when it is earned. Income shall be realised only when the products have been delivered or a service has been provided or debt against income exists; rather than merely being based on receipt of income like in the cash method. Illustrations Cash method Mr A is an employee who obtained three months salary of the next year in advance. If cash method is used then the salary of the future three months will be derived as his income even though he has not served for it (Heffernan and Boyd, 2010). Accrual method Mr B has a business of selling magazines. He comes with a subscription scheme in which the customers will pay in advance for year 2 and earn a rebate of 20% (Jacob and Jacob, 2013). Under accrual basis, even though Mr B is receiving the subscription fee for the second year, still for income tax purposes, only the amount received in year 1 will be accounted as assessed income. 2. Solution Relevant Law: The Income Tax Act 1997, sec 104.150, compiled in the case of Forfeiture of deposit, CGT event HI. If an individual, organisation or an entity has received a deposit from a customer and the customer has surrendered it because the sale or any other related transaction has not been initiated, then in such cases it can be stated that the negotiations failed the amount of deposit (Kazmierska-Jozwiak, 2015). As per section 1A, the amount being transferred to the surrendered account is decreased by the below mentioned: Compensation that the company pays can be recognised as repayment of the entire deposit, or The money that the client pays As per section 1A, forfeited proceeds may also include property. Nonetheless, any amount that can be decreased in not included in the deposit. Besides this, the event takes place when the money is forfeited (Kobetsky, Brown and Gillies, 2015). Lastly, the capital gain is earned if a deposit is greater than the expenditure. If the deposit amount is less, then this amounts to a capital loss. Facts: The amount is paid to RIP Pty Ltd. by the customers under the funeral plan to meet their funeral costs in future. If the obligation fails to be met then the deposited amount gets forfeited. Easy Plan Funerals balance amounts to $225,000. Conclusion: With regards to Section 104.150, the amount shall be forfeited because it has been deposited in the concerned account owing to the non-fulfillment of the obligation and hence the books of RIP Pty Ltd. will record a capital gain of $225,000. 2. Solution (i) How is trading stock treated: Relevant law Income Tax Assessment Act 1997, section 70.10 defines trading stock. As per the definition is given in this section, trading stock comprises of everything which is manufactured, produced, acquired, which is held to manufacture, exchange or sell during the normal course of business (Passant, 2014). However, in the case of shares and livestock, special considerations need to be kept in mind. Livestock is considered as stock if they are abreast in the main production business. As far as shares are concerned, their inclusion in trading stock is dependent on the frequency of the number of transactions and the significance of the resources produced from the activity. Common Tax Treatment If the closing stock amount is greater than the opening stock, then the difference is assessable. If the opening stock is greater than the closing stock, then the difference amount is deductible (Lanis and Richardson, 2013) Cost of purchase is subject to a deduction Facts: Three different caskets types, together with various accessories and secular and religious coins are the closing stock of RIP Pty Ltd. The organisation gains substantial rebates on advance purchases. Conclusion: The accessories and caskets are held by the business for the fulfilment of its business duties and not for exchanging or selling in the normal course, hence they are entitled to be included in the trading stock. The verdict given in the case of Ballarat Brewing Co. Ltd. vs. FCT is applicable in the current case, relating to the fact that correct reflection of expenditure is done to acquire the accessories and caskets. As per the referred case, the amount recorded in the books will be subsequent to the discount obtained i.e. net amount to demonstrate the actual reflection. If the accessories and caskets are put under the asset head then the amount of $25000 shall be recorded on the asset side and debtors shall be created for this amount for an advance against the capital assets. If they are recorded as an expense then it will be recorded as a prepaid expense. Solution (ii) How is the dividend income obtained during the year treated As per ITAA36, sec 44, dividends are accounted for when paid and as per section 6(1), the term paid implies something which is credited or distributed. As per section 44(1), dividend payments are not revocable if the company declares them (Prince, 2013). Therefore, the dividend must be formed a component of the assessable income of its receipt and the company cannot revoke them. Thus, the cash dividend of $21,000 obtained from the RIP Finance Pty Ltd shall be included in the companys assessed income. Solution (iii) Treatment for rent of storage space paid during the year Relevant Law: As per the provisions of the taxation law of Australia, a business or an individual is qualified to claim rental expenses which are of revenue nature (Richardson and Wright, 2014). Nonetheless, in respect of capital expense, any reduction in the value of capital work can be declared as a deduction. Facts: $57000 was paid as two-year rent of the storage space on 1st March 2016. The lease ends on 28th February 2018. In the given situation, $9,500 were treated as expensed and $47,500 capitalised in final accounts. Conclusion: Taking into account the Acts provisions, $9,500 shall be allowed as a deduction in that very year. Nonetheless, the deduction of $47,500 cannot be claimed right away in two years as per capital expenditures fall in value. Solution (iv) Treating amount debited as Long Service Leave account Relevant Law: Income Tax Assessment Act, sec 83.70 overviews this aspect. This sections subdivision is applicable to leaves of the following types i.e. apart from annual leave which needs compliance with section 83.10 (Taylor and Richardson, 2013). As per the relevant section: Long service leave includes extended leave, furlough and long leave Any other service that carries the same meaning as discussed in the above point (Marshall, Smith and Armstrong, 2010) If the employer is involved in a scheme of arrangement for leave, he does not conform to the conditions of Common Wealth Law and State of Territory Law. Facts: RIP Pty Ltds MD was paid in advance an amount of $22,000 for a long service leave of 3 months. This was recorded as provision for long service leave. Conclusion: With regards to section 83.7 and 83.8, it can be said that the amount paid to the MD was payment pertaining to long service leave. The whole amount of $22,000 shall be treated as assessable income of the employee. Solution (v) Relevant Law: An entity can claim a deduction for the construction cost of building under the capital work deductions head. It entails: Building an extension, refurbishment in a building Improvement meant for environment safety (Thomson, 2014) Improvement infrastructure like fences, walls etc. Facts: The company decided to build a purpose built facility. The preliminary expenses for architectural design amounted to $250,000. A new land costing $1.25m was bought in 2015 and $50,000 were paid toward demolishing expenses. Building the new premise cost $2.5m. Conclusion: The company can claim 4% of the money incurred as allowance with reference to Division 43 of ITAA 1997 (Other capital expenses, 2016). Nonetheless, the building needs to qualify under the provision of section 43-150 of the ITAA 1997 to claim this allowance. Conclusion The company is responsible for making sure compliance with all the relevant provisions of the Income Tax Assessment Act 1997. Non-abidance of law may result in dire consequences for the company including imprisonment and fine. References Ault, J. H. and Arnold, J. B., 2010. Comparative Income Taxation: A Structural Analysis. Kluwer Law International. Australian Taxation Office. 2015. What to include in your assessable income. [Online]. Available through: https://www.ato.gov.au/Business/Income-and-deductions-for-business/Working-out-your-assessable-income/What-to-include-in-your-assessable-income/. [Accessed on 12 September 2016]. CCH Australia Staff. 2012. Australian Master Tax Guide 2012. CCH Australia Limited. Evans,S. and Jacobs, K., 2010. Accounting: an un Australian activity? Qualitative Research in Accounting Management, 7(3), pp.378 394. Heffernan,J. M. and Boyd, T., 2010. Property taxation and mass appraisal valuations in Australia adapting to a new environment.Property Management, 28(3), pp.149 162. Jacob, M. and Jacob, M. 2013. Taxation, dividends, and share repurchases: Taking evidence globally. Journal of Financial and Quantitative Analysis. 48(04), pp. 1241-1269. Kazmierska-Jozwiak, B., 2015. Determinants of Dividend Policy: Evidence from Polish Listed Companies. Procedia Economics and Finance, 23, pp. 473-477. Kobetsky, M., Brown, C., Peacock, C., Fisher, R., Villios, S. and Gillies, P., 2015. Income Tax: Text, Materials and Essential Cases. Federation Press. Lanis,R. and Richardson, G., 2013. Corporate social responsibility and tax aggressiveness: a test of legitimacy theory. Accounting, Auditing Accountability Journal, 26(1), pp.75 100. Marshall,R., Smith,M. and Armstrong, R., 2010. Ethical issues facing tax professionals: A comparative survey of tax agents and practitioners in Australia. Asian Review of Accounting, 18(3), pp.197 220. Other capital expenses. 2016. [Online] Available through: https://www.ato.gov.au/business/income-and-deductions-for-business/depreciating-assets/other-capital-expenses/. [Accessed on 6th September 2016]. Passant, J., 2014. The Minerals Resource Rent Tax: The Australian Labor Party and the continuity of change.Accounting Research Journal, 27(1), pp.19 36. Prince, B. J., 2013. Tax For Australians For Dummies. John Wiley Sons. Richardson, G. and Wright, C.S. 2014. Corporate profiling of taxmalfeasance: A theoretical and empirical assessment of tax-audited Australian firms. eJournal of Tax Research. 12(2), p.no. 359. Taylor, G. and Richardson, G., 2013. The determinants of thinly capitalised tax avoidance structures: Evidence from Australian firms. Journal of International Accounting, Auditing and Taxation, 22(1),12-25. Thomson Reuters, 2014. Australian Tax Legislation 2014: Income Tax Assessment Act 1997: Div 768 to end, Income tax assessment regulations 1997, Taxation Administration Act 1953, Tax agent services, Crimes (taxation offences), Fringe benefits, Financial transaction reports, Pending legislation. Income Tax.

Research Essay on Key Areas of Law and Compliance in Australia

Question: Write a research essay on key areas of law and compliance in Australia. Answer: Part A The first step in case of compliance can be described as identifying the laws that are applicable in case of a particular business, the regulators having jurisdiction in those particular areas, the risks that are faced by the business and the legal issues that may have to be raised by the business. In the present case, a family owns and runs a restaurant in Sydney and they want to call it the Great Catch!. In this part of the assignment, a research essay needs to be written in which the major areas of law and compliance have to be discussed that will be significant in case of the business operations of restaurant. In this way, in this part of the assignment, the areas of law and compliance dealing with the restaurant business in Sydney have to be explored. In this regard, the major areas of law and compliance include the need for the registration of the name of the restaurant, the health and safety regulations that are applicable to the business, the consumer protection legislation and employment law which include the equal rights legislation. In this case, it has been decided by the family that they will start a restaurant in Sydney under the name of Great Catch and at the same time, the company is not going to register the company with Australian Securities and Investment Commission (ASIC). Under these circumstances, it is imperative that the name of the business has been registered with the ASIC. But the Intellectual Property law provides that if the name of the business resembles the first name of the first name or the surname of the owner or a partner of the business, the name of the busi ness is not necessary to be registered. In other cases, the name of the business has to be registered (Vickery and Flood 2009). For example, if it has been decided by a person named John Hart that he will start a business and the name of the business will be John Hart Computers, in such a case, it is not necessary that the person should register the name of the business. But if it has been decided by the owner of a business that the name of the business will be John's Burgers, in this case, the intellectual property law requires that the name of the business should be registered by the owner. In the present case also, the family had decided to name the business as the Great Catch!. As this name is not the first name or the surname of the owners of the business, it is necessary that this name should be registered with the ASIC. In this way, the business owners are required to consider all the legal requirements for establishing the new business. In case they fail to follow the legal requirements and regulations, serious penalties may have to be faced by the business. As mentioned above, there are a wide range of legal requirements that may have an effect on the business. One such requirement is related with business structure. It is very important that all registrations related with the business structure are kept up-to-date. In this regard, an example can be given of the requirement to renew the business name whenever it is due. On the other hand, if the business is being run as a company, detailed requirements related with the companies have been prescribed by the Corpor ations Act, 2001. In this context, the taxation requirements that are applicable in case of businesses include GST and PAYG. On the other hand, if the business is being done as a partnership, a written contract should be drawn are the parties before the business becomes operational and makes any financial commitments. Similarly, the requirements dealing with property law also applicable in this case. For example, a restaurant is being run in Sydney under the Retail Shop Lease Act, 1994. It is advisable that the lease is properly understood by the parties, before they sign it so that appropriate terms and conditions are mentioned in the least deed and the parties are aware of their obligations under the lease before they have signed. Similarly if the parties are operating the home business, it is possible that the number of persons who can work there may be restricted by the local council. Therefore it is advisable that the business owners should contact the local council. The next issue is related with intellectual property. The business should make efforts to protect their intellectual property as it gives them a legal entitlement over such intellectual property. In order to protect their intellectual property, businesses can use trademarks, designs and patents. At the same time, that businesses may be required to review and if applicable, renew the intellectual property protection regularly. For example, the businesses are required to renew their trademarks after every 10 years. However, it also needs to be knowledge that intellectual property involves complex issues and as a result, it is advisable to the advice from specialists. In the same way, when staff is employed by the business, there are certain employer obligations that may arise one part of the business. It is required in this regard that the right person is selected for the business that matches with the job description and the selection criteria that has been specified. The business is also required to make offer of employment to the prospect of employees in writing which includes the conditions of awards, agreements and the contract of employment. Another relevant issue is related with consumer protection. In this context, it needs to be mentioned that the Australian Consumer Law is the national law that is applicable in all jurisdictions in Australia and to all sectors. In this way, all the consumers in Australia have been provided the same rights and similarly, similar obligations have been imposed on the businesses regarding consumer protection, regardless of the State or the Territory in which the business operates (Clarke, 1989). The Australian Consumer Law prohibits unfair trading practices, covers general standards of the conduct of the business and it also regulates particular business to consumer transactions and at the same time, it provides business guarantees related goods and services to the consumers. The ACL also regulates the safety of the products and services supplied to the consumer. As a result, it is very important that the businesses are aware of their obligations towards the consumers in view of the prov isions of ACL. Part B Problem Question On the basis of the facts that have been given in this part of the assignment, it has to be decided if Manny and Bella have any remedies against the manager of Tuscan Ovens Pty Ltd. This issue arises due to the fact that Manny and Bella wanted to purchase a heavy duty to oven that can cook at least 30 pizzas in an hour and should be able to operate for 16 hours continuously every day. Therefore when they visit the showroom of Tuscan Ovens, they clearly tell the manager that they only require such an oven otherwise they will lose customers, particularly during the peak hours. After listening to the requirements of Manny and Bella, the manager of Tuscan Ovens recommends that they should buy the new Tuscan XX commercial oven as this oven can satisfy their requirements. In this way, on the basis of the statement made by the manager and also on these recommendations, Manny and Bella decided to purchase the oven at the price of $15,000. But very soon, they found that the oven can go only 1 2 pizzas in an hour and at the same time, the oven was also found to be unreliable. As a result of these problems, the pizza business of Manny and Bella had been losing money. On the other hand, Tuscan Ovens was not ready to discuss the complaints regarding the oven. Under these circumstances, it has to be decided if Manny and Bella can take any legal action against Tuscan Ovens Pty Ltd and what remedies are available to them. In this regard, according to the Australian consumer law, the parties may avail contractual remedies that may be available under the common law in case of such pre-contractual misrepresentations or the parties may decide to avail the statutory remedies that have been provided by the Australian Consumer Law, which forms a part of the Competition and Consumer Act (Owston Nominees No 2 Pty Ltd v Clambake Pty Ltd., 2011). Earlier, the relevant legislation was known as the Trade Practices Act, 1974. However the Australian consumer law is being used more commonly as it is applicable in a wider range of circumstances and it is considered that the ACL provides that the remedies to the parties that have suffered a loss as a result of the misrepresentation made by the other party. Section 18 of the ACL has imposed a statutory provision on misleading and deceptive conduct. This section is a part of schedule 2, Competition and Consumer Act and these provisions can be earlier found in s 52, Trade Practices Act. This is the reason why much of the case law related with this issue still refers to section 52. However according to section 18, it has been mentioned regarding misleading or deceptive conduct that a person should not be involved in conduct that can be considered as misleading or deceptive or if such conduct is likely to mislead or deceive, in trade or commerce (Miller Associates Insurance Broking Pty Ltd v BMW Australia Finance Ltd., 2010). As the reference has been made in this section to trade or commerce, it can be said that the sales that are purely private in nature have been excluded from the purview of this section but at the same time, the provisions of this section cover almost all commercial activity (Commonwealth Bank of Australia v Mehta, 199 1). When it has been established that there has been a breach of section 18 and a party has been involved in misleading or deceptive conduct, a wide range of remedies are available to the other party which include images and the avoidance of contract or variation (Demagogue Pty Ltd v Ramensky, 1992). In this case also, it needs to be seen if the requirements that have been mentioned in section 18 are fulfilled in this case and if the pre-contractual representation made by the manager of Tuscan Ovens can be considered as misleading or deceptive. In this case, Manny and Bella had clearly told the manager that they want an oven that can open at least 30 pizzas in an hour otherwise they will lose their customers, particularly during the peak hours. Similarly, it was also required that the oven should be reliable and it can be operated for 16 hours continuously every day. But after purchasing the oven, it was found that the oven can only cook 12 pizzas in an hour. Moreover, the oven also proved to be unreliable and therefore it cannot be operated for 16 hours continuously every day. Before purchasing the oven, Manny and Bella had clearly told the manager of Tuscan Ovens regarding the requirements and when the manager recommended a particular model, they decided to purchase it, on the basis of representation made by the manager. In this way, it can be said that Manny and Bella had relied on the representation that was made by the manager regarding the capacity of the oven and also its reliability. Moreover, this transaction was made in context of trade and commerce as the manager was clearly told that the oven is required to cook pizzas at the restaurant. In this way, it is clear that the present case is covered by the provisions of section 18. In case of the contracts that have been created as a result of misleading or deceptive conduct, the major remedy that is available to the other party is that of damages. Although an injunction is more significant regarding relief for the breach of section 18 generally but such relief is of little use under the circumstances where the parties have already entered into the contract on the basis of misleading or deceptive under (Noor Al Houda Islamic College Pty Ltd v Bankstown Airport Ltd., 2004). Therefore in the present case also, Manny and Bella can claim damages from Tuscan Ovens Pty Ltd due to the misrepresentation made by its manager and relying on which, Manny and Bella entered into the contract for the purchase of oven. References Philip H Clarke, 1989, The Hegemony of Misleading or Deceptive Conduct in Contract, Tort and Restitution 5 Australian Bar Review 109 Roger Vickery and MaryAnne Flood 2009, Australian Business Law: Compliance and Practice, Pearson Education Australia Case Law Commonwealth Bank of Australia v Mehta (1991) 23 NSWLR 84 Demagogue Pty Ltd v Ramensky (1992) 39 FCR 31 at 41 Miller Associates Insurance Broking Pty Ltd v BMW Australia Finance Limited (2010) 241 CLR 357 Noor Al Houda Islamic College Pty Ltd v Bankstown Airport Ltd (2004) 215 ALR 625 Owston Nominees No 2 Pty Ltd v Clambake Pty Ltd [2011] WASCA 76.

Money Saving Tips for College Students free essay sample

As for any college student the usual expenses of; school, personal life, food, entertainment, and leisure activities is enough to make you broke or for most of us, in debt. It is Thursday night and the weekend is here but your wallet is full of bank receipts and there is not any cash to been found. Your friend just told you the agenda for the night which involves; dinner, pre-game, party, and then night club. Chances are your staying in for the night unless you have a hidden supply of cash under your bed. This type of scenario is all too common for most college students, which is why I am going to explain in detail how to save and manage your money more effectively. With becoming better educated on how to manage your money properly you will be shocked at the amount of cash you can save. The following tips will help you to save money in the following areas of your college expenses; money management, organization of money, personal life, decision making, jobs, entertainment, leisure activities, food, dating, tuition, and books. We will write a custom essay sample on Money Saving Tips for College Students or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Learning how to manage your money and having the proper knowledge on which banks to use with your money is an important part on saving your money. The following bullets will explain in detail on how to effectively manage your money: 1) Track your expenses – By tracking your expenses for 2 weeks to a month will allow you to have a better understanding where your money is going. Are red bulls at the 7-11 and a cappuccino at Starbucks 4 times a week actually needed? You will tend to realize the amount of money wasted on small items that are not necessary. Just by tracking your expenses you will begin to manage your money more effectively. To keep better and more organized track of your money, using a notebook or quicken are great tools to being better organized. Having good records prevents you from spending what you do not have and from over drafting your account. 2) Budget your money – The best way to manage your money over a period of time is to create a budget. Take the time to sit down and look at your incomes and expenses. Examples of income are scholarships, paycheck if working, loans, money saved throughout summer and money from your family. Examples of expenses are books, food, rent, bills, tuition, and entertainment. Create a list of your incomes and expenses, and then decide a way to budget your money from either week to week or month to month. It is important to pace yourself when putting yourself on a budget. If you spend all of your money in the beginning of the month, you will be stuck eating leftovers from the cafeteria for the last week. In addition, it is important to provide yourself with money for leisure and entertainment. You are a college student, it is refreshing to buy yourself something new or have a good time every once and a while. Putting your money on a budget will help you to manage your money very effectively. Remember, you don’t always have to spend the amount you budget yourself. Also, planning ahead is essential when you are properly managing your money. If you know that soon you will be going on a vacation, paying your car insurance, or just an expensive weekend; placing aside $50 a week is more reasonable than coming up with $400 at once. 3) Choosing a bank – Join a credit union. Credit unions are set up as non-profit so they do not charge those high interest rates and hidden fees as, for example, a Bank of America would. Also, look into online banking, this makes for a fast easy to use way of banking. ) Credit Cards – The most helpful tip that I can give to a college student would be to stay away from credit cards. Do not fall into the traps of free giveaway sign up booths, those guys trying to sign you up are only trying to take your money. The reality is that credit card companies see college students as suckers. That is why credit companies swarm campuses and make getting a credit card so easy. These credit companies also charge a high interest rate on these cards. The average interest rate is 18%; this means you will have to pay back an additional 18% on whatever you may purchase. The higher the interest rate, the harder it will be to pay off your bill. It is like a chain reaction that will just continue to bury you in debt. As you can only afford to pay off the minimum, the interest continues to gain as the bill continues to rise. To avoid this, it is important to avoid the temptations that come with having a credit card and to also try to make more than the minimum monthly payments. Although, having a credit card for emergency situations and to build up your credit for the future can be very beneficial. However, for college students reaching for that Visa can be a very hard habit to break. In addition, credit companies will give you a credit line well higher than what you may need. They may set you at a $5,000 credit limit, when you may only be able to afford $1,000. Just call the credit company and tell them the price you would like your credit line set to. With having a credit card it does not mean you can buy whatever you want. It is important to be realistic and to understand what you can and cannot afford. Most expenses tend to occur in the beginning of the school year. To plan accordingly for this, saving money while working your summer job would help to cut the cost of initial expenses. When coming back to school, books and various items for your apartment/dorm are going to be quite costly. To cut cost on buying books, it is often cheaper to buy books offline or off a friend. Buying books online can be easy and up to half the price that it would be in the bookstore. One downside to buying books online is the amount of time it can take for shipping, so be sure to place your order as early as possible. You may also have some friends who have had the same classes before you, buying a book off a friend who is not going to use it anymore can save you a good amount of money. With having the power of the credit card, it is important to keep a focus on what is important. You want to keep your expenses to either academic or personal essentials. It might seem as if the new PS3 is just the item to place on your credit card, but I can assure you it is not. If this may seem as an essential to you then place aside money each week to save and buy that PS3 with cash. When purchasing anything remember cash is king. For most college students; the pressures of going out on the weekend, taking a girl out to dinner, having the latest technology, and still trying to save money can be quite the challenge. Now remember, you’re in college and on your own now, you don’t have your mother yelling at you to brush your teeth before bed or to clean your room. This is an opportunity for you to begin working on your self-discipline. Having your life in order and maintaining a clear head are two things that college students tend to lose sight of. Making the right decisions when it comes to your personal health and responsibilities is an important part of self-discipline. Within this section of personal life I will relate how staying active, eating healthy, nd enjoying your social life can help you to better manage your money. Everyone is in college to better their future and to get prepared for the real-world, but just as any college student, you want to make the best out of your time here. 1)Staying focused and active – Living in dormitory or even in a house with eight roommates, you become very susceptible to catching different illnesses. By staying active and working out or excising several times throughout the week, your immune system will become stronger and fight off most illnesses. Staying in good shape also helps with increasing self-confidence, energy throughout the day, and keeping your mind active and positively focused. In college it is easier to gain the weight than it is to lose if you fall into the outside pressures of drinking, eating fast food, and sleeping all day. With keeping the self-discipline of staying focused and active it helps to keep a clear head which in return will help you to decide what expenses are important and what is a waste of your money. 2)Healthy diet To stay fit and keep your body in good shape, your diet is just as important as your workout. By going to the grocery store once a week and purchasing vegetables, fruits, meats, beverages, and carbohydrates can help you to save close to an additional $50-$100 a week. Not only is cheaper to purchase food at the grocery store but it is much healthier than ordering out or eating fast food. To cut the cost on buying groceries, divide the cost by you and your roommates, buy and share the food. In addition, you will receive more for your money when you purchase weekly groceries. To get the best prices for quality products, look through the newspaper ads for each supermarket and plan out where you can save the most money. Cut back on buying junk food, it is often expensive and is not healthy. If you do decide to eat out, college towns often have restaurants where you order and serve yourself, this cuts on the cost of leaving a tip. The only problem that some college students might have is that they do not know how to shop at the grocery store or how to cook the food. This is where it might be helpful to make a phone call home and get some instructions from your mother. For those that can cook and shop at the grocery store, this is a great way to get more for your money as well as maintain a healthy diet. )Social life – This is often times confused for the reason as to why you are in college. While it may be easy to fall into the trap of going out every weekend and living the party life it is essential to keep focus as to why you are in college. You are here to get an education and better yourself, not to blow all your money on partying and fail out. This is where the significance of self-discip line and managing your money properly should take first priority. Everyone likes to have a good time and enjoy themselves, it is important to keep things in moderation. Learn to limit your vices or â€Å"stress-relievers† (as some college students say) such as, beer, cigarettes, and etc†¦ These vices can be expensive and costly to your health as well. By keeping to your budget and using the allotted amount you give yourself a weekend you can enjoy yourself and still save money. Here are a couple tips on how to keep the expenses of your weekend nights to a minimum; †¢Have a meal before you leave to go out. Leaving the house/dorm hungry can cost you a lot of money that you may not have. †¢Leave your debit card and wallet home. Only bring the money you can afford for the night and your id. This will help to fight the temptations of buying unnecessary items, especially if you are under the influence. †¢If you have friends that have an unlimited bank account and spend lots of cash, try to avoid them and hang with friends that relate to your financial status. You don’t need to spend a lot of money to enjoy yourself in college. The following is a list of inexpensive activities and entertainment for any guy or girl student who is looking to save money and enjoy their social life as well; †¢Newspapers offer listings of inexpensive or free events that are going to take place in your city/town †¢ Going to matinee movies School events, such as sporting events or clubs †¢Spend a day at the local park, go for a walk or fly a kite †¢Bicycle rides with a friend †¢Spending the afternoon baking and relaxing †¢Grab a couple friends and play sports at the school gym †¢Coffee shops often have free local bands play at night †¢Afternoon flea market †¢Depending on the season, apple or pumpkin picking for Halloween, Christmas shopping, Easter decorating or designing eggs, etc†¦ †¢Art gallery Student newspapers often give listings of free events or activities that are taking place around campus †¢Play video games with friends, create tournaments and play for bragging rights †¢Get involved in intramural sports †¢Ladies usually get into clubs for free and get drink specials †¢Go to bars with no cover charge and that have drink specials Throughout college you are going to meet a number of different people, some you will like more than others, and for those you do, you may find yourself taking him or her out on a date. Now for most people, saving money and dating are two notions that don’t connect. For most, on a first date you try to impress and give off the perception that you are not broke or even worse, cheap. To the disbelief of many, dating does not have to be expensive to be impressive, entertaining and unforgettable. Remember, you are trying to stick to a budget and with all other expenses it is challenging enough. The following bullets will explain how to have fun on a date without spending all your cash. †¢Mother Nature – It is all around us everywhere we go, natural scenery is different at every campus and usually the beauty goes unnoticed. A great idea for when the weather is nice is to take him or her down to Narrangansset or Newport and go for a walk on the beach. Take a walk around city blocks and stop somewhere there is nice view overlooking the city. Take time to find these spots at which ever campus you are, this can be extremely cheap and give quality time to build a better relationship. †¢Picnic A picnic in the local park is always a great idea. Bring sandwiches and beverages, it shows that you took the time to actually prepare something. This costs minimal as to what you spend at a restaurant and can be taken almost anywhere. Depending on the mood you are trying to create, you can make a picnic either casual or romantic by adding a few extra accessories. †¢Sporting events – If you get so lucky to find a woman who is interested in sports, this is a great opportunity to either play a sport together or to watch a sporting event at your school. This also allows you to spend quality time with one another as well as have a good time while saving your money. †¢Experience culture and history – In this city there a number of historical buildings, museums, art galleries, cultural centers and landmarks that are either very cheap or free. Often times, there are exhibits that are off campus that have reduced or free admission for college students. This is good for a date on a more intellectual level and gives time to get to know each other as well as the area you are in. †¢Dinner at home – For those of you who are culinary skilled, this is a great opportunity to impress your date and to save the cost of going out to eat. To make the date more interesting, cook the meal together and combine ideas. After the meal, this is a chance to hang out and watch a movie or play a game. This is a great date idea to impress and really have a good time. Miniature golf/go karts – This makes for a great afternoon date and adds a little excitement. Racing each other and fooling around on the race track provides a fun time for one another. In miniature golf, a friendly competition allows to make things more exciting and to fool around. †¢University events – In the school paper, there are listings of events that are taking place for the following week. Usually events are free or reduced admission, which includes concerts, art exhibits, guest speakers, and plays. This can make for a quality date as well as save you money. †¢Coffee houses – Stop at a local coffee shop to relax and have conversation. Coffee is much cheaper than a meal at a restaurant and provides the relaxed atmosphere to get to know each other better. Also, order a dessert and splitting it provides for a romantic experience. Making Money I’ve saved the best for last. If you can master even one of these, you’ll have a head-start on your friends. Master all four, and you’ll be on the road to wealth. No kidding. †¢Spend less than you earn. Don’t earn much? Then don’t spend much. If your spending and income are roughly even, you have two choices: earn more or spend less. When I was in college, I worked as many as four jobs at once. This gave me a lot of spending cash. (Unfortunately, I didn’t do a good job with the spend less part of the equation. ) †¢Be an outstanding employee. Good work habits can pay enormous dividends, leading to recommendations and contacts that you can use after you’re out of school. Several of my classmates turned work-study jobs into launching pads for future careers. †¢Start your own business. Can you install a hard drive? Can you strip a computer of spyware? Can you perform minor car repairs? Do you have a pickup truck you could use to haul furniture? Are you a passable guitar player? Charge cheap rates and exceed expectations. Word will spread. When you’ve built up a customer base, you can raise your rates a little. This is an awesome way to make money. Learn to invest. Find a discount broker and begin making regular investments. Sharebuilder is a great choice for college students. It costs only $4 to make a scheduled stock purchase, and you can invest any amount of money, even $20. Don’t obsess over the details yet. You can worry about high returns and low fees later. Right now the most important thing is to develop the investment habit. (Ad: Buy Stocks for $4 at ShareBuilder. Ten years from now, you’ll thank yourself. If you can find a way to invest $1000 a year for the next ten years, you can set yourself up for life. Organization and Planning Save your receipts. Put them in a shoebox under your bed if you must, but hold onto them. You’ll need to be able to compare them with statements at the end of the month. And some you’ll need to keep for several years. Guard your vital stats. Don’t give out your social security number or your credit card info except to known and trusted sources. Pay your bills on time. Basic advice, but it’s surprising how many people lose track of things. If you pay your bills as they arrive, you won’t have to worry about forgetting them. Tuition Expenses †¢Try looking for scholarships. You may think that youre no longer eligible for scholarships since youre a college student, but this isnt true. Your school or other foundations may offer scholarship programs that can save you loads of money on college tuition. For further information you may want to try www. findaid. org or www. college-scholarships. com. †¢Shop around for student loans. Just like choosing a credit card company, you should try going to different banks to see what types of interest rates are available. You may want to choose the type of loan that begins charging you interest after youre finished with collegenot the type of loan that charges you interest while youre in school. Other Expenses †¢Shop around for a reasonable cell phone plan. Try to find a plan that works best for the type of calls you make the most. Do you call your family or friends most often? Do you need a long distance plan? Do you text message often? †¢Try filling your prescriptions at your schools health center. Sometimes campus health centers will fill your prescriptions for a fraction of the cost of a regular pharmacy. See a doctor on campus. If you feel sick, you may want to consider seeing a doctor or a nurse practitioner on campus. These services are often free. †¢Bike, walk or take the bus to school. These alternatives may help you save money on gas and alleviate some of the stress you may experience trying to park on campus. †¢Go to the on-campus gym. Access to this gym equipment is usu ally free. If you want to take group classes, however, be prepared to pay a fee. http://www. getrichslowly. org/blog/2006/08/30/27-money-tips-for-college-students/

Smartest Guys in the Room

Introduction Enron: The Smartest Guys in the Room was a documentary film showing the real story of the largest business scandal in the U.S. where top executive officers in Enron Corporation squandered over one billion American dollars while the Corporation investors and employees lost everything. Enron Corporation was a leading commodity, and Service Company established in Houston, Texas.Advertising We will write a custom case study sample on Smartest Guys in the Room specifically for you for only $16.05 $11/page Learn More It was the seventh largest companies at the time. The executive officers included Ken Lay, the CEO, Chief Operating Officer, Jeffrey Skilling, Chief Financial Officer, Andy Fastow and the Accounting Firm, Arthur Andersen. The film was based on the 2003 award-winning book, The Smartest Guys in the Room by Fortune reporters, Bethany McLean and Peter Elkind. It also featured insider accounts and fire-raising corporate videotapes audios, interviews with former Enron executives and employees, reporters, former Governor of California and stock analysts. The film significantly examined the collapse of Enron Corporation in 2001. It showed how smart and powerful men were driven by greed, which brought shame to themselves and severely affected innocent investors and employees (Gibney 1). In 2006, the film was nominated for Best Documentary Feature and consequently won the Independent Spirit Award for Best Documentary Feature. Enron Natural Gas Pipeline Company was formed in 1985 as a result of the merger of Houston and Omaha, Nebraska’s and InterNorth, natural-gas companies. By 2000, Enron Natural Gas Pipeline Company had grown and dominated the North America natural gas industry and Jeff Skilling pioneered its expansion to a different range of products that included coal, steel, and water. This resulted to skyrocketing of the company’s stocks and Jeff Skilling was considerably named CEO of the company. Many people invested in the company and with the increase in the range of products, and consequently, the number of employees had to be increased. Meanwhile, Skilling accounting results put Enron’s earnings at 53 million dollars a deal with no profits (Independent Lens 1). Summary of what happened at Enron Jeff Skilling declared the company’s earnings of $53 million dollars in a deal that yielded no profits. Essentially Enron faked its bookkeeping to report profits that never existed. The company operated on corrupt and closely-guarded mismanagement by Enron executive officers.Advertising Looking for case study on art and design? Let's see if we can help you! Get your first paper with 15% OFF Learn More Enron came up with a scheme to artificially increase electricity demand at the West Coast. As a result, many California citizens experienced blackouts, and unfortunately, two people lost their lives while Enron’s West Coast desk pocketed huge profits. E nron also used ghost companies to hide the massive company losses that later toppled the company. Enron crafted to sell products that did not exist and its balance sheets never balanced. Inexperienced and innocent employees who had dedicated their financial lives to Enron were surprised when Enron Corporation experienced prolonged fallout without their knowledge. About 20,000 employees lost their jobs. The company’s insurance covers crashed, Enron stocks and retirement accounts were equally devalued with urgency. Similarly, many criminal accusations were prosecuted against several Enron company’s top executive officers. Additionally, Arthur Andersen’s accounting firm collapsed, the 2006 convictions of Ken Lay, Jeffrey Skilling and Chief Financial Officer, Andy Fastow also fell. This was followed by the death of Ken Lay the CEO, two months later. Organization-related Problems at Enron Organizational related problems are the problems that come up from a group†™s influence. They include the shared beliefs and shared values. Being a well-established company, Enron ought to have had proper records, book keeping, financial statements open to public scrutiny and compliant with all financial standards. Though Enron was applauded for being innovative, it had various organizational problems. Because Enron was dealing with many cash transactions, entered into future contracts, and acted as a bank for many commodities, it was necessary for them to generate cash flows which they never did. Their reliance on borrowed cash for their dairy transactions was not a good organization technique. Enron similarly dealt with inexperienced employees, credits, debts and diverse businesses instead of being specific, which brought about organization problems. The idea of Enron dealing with all types of businesses both simple and complex made it impossible for employees to have the required expertise hence resulting to organizational problems. The entry of Enron into trading activities that were unfamiliar to the employees was an organization problem. As trading expanded, Enron’s, financial status became complex, and unfortunately, they abandoned budgetary controls. The organized structure and policy of Enron clearly did not prevent unscrupulous activities like the artificial electricity scheme (GUIDESTAR 1).Advertising We will write a custom case study sample on Smartest Guys in the Room specifically for you for only $16.05 $11/page Learn More Enron did not have a mission or a strategic plan, and that can be viewed as an organization lapse. The top management and auditors of Enron were not professionally and psychologically up to the huge task in the company and were more concerned with earnings and hence could not realize eminent business risks (Cunningham and Harris 33). Root cause of the organizational problems, values, ethical, reward systems, perceptions and leadership Many companies like Enron ha ve voluntary codes of ethics that prohibit executives from being involved in other business entities that do business with the company they are working for. However, the executive officers of Enron chose not to follow this code of ethics. Enron executives, like some other companies, were allowed to manage their own employee pension funds, which unfortunately, they messed up. The diverse businesses involved in by Enron left no space for specialization and expertise hence creating organizational problems. The schemes and conspiracies developed by Enron’s executives were unethical and poor show of leadership traits. The fact that Enron hired and paid its own auditors brought a conflict of interest into the legal and financial system which created an organizational problem. The legal and regulatory structure that allowed firms like Arthur Andersen to provide both consulting and auditing services developed a conflict of interest and thus resulting to an organizational problem. The senior management at Enron did not receive extensive ethical training and as such did not have enough knowledge to arrive at concrete decisions. Corporate governance and leadership solely relied on the state of mind, will power and personal relationships of management. However, rules were skillfully, cunningly and willfully ignored though they were in place. The fact that the law left considerable discretion to managers and executives to exercise their own business judgment about what was in the best interests of the company, enabled the executive officers of Enron to mismanage and practice corruption. Finally, the shareholders of Enron were not allowed to vet the management of the organization (Markkula Centre for Applied Ethics 1). Detailed Analysis of the Problems Identified Every corporate organization operates under its own set of code of ethics. The code of ethics details how employees, employers and company business should be transacted. Once this code of ethics is followed, smooth running of a company is guaranteed.Advertising Looking for case study on art and design? Let's see if we can help you! Get your first paper with 15% OFF Learn More However, since this code is voluntary, top management in most cases ignore it and hence create organizational problems in a company. The executive officers in Enron ignored the code of ethics and conspired, mismanaged and engaged in corrupt activities that crushed the company. Training of management team and employees ensures a good understanding of the business and required expertise. However, no such training was offered or sought in Enron, and thus it can be said that employees did not understand the newly introduced trading activities in the organization. The diverse business activities deny a company a sense of specialization and hence no mission. This leads in business being executed in any way and thus there is no perfection. The loopholes in the legal framework are used by the wise to defraud companies. The fact that the law allowed the senior management to make personal decisions they saw fit for the company, also gave them a chance to do the opposite. Hence, the law can pr otect or be used to suit the highly ranked in a company. Senior management should at all times demonstrate good governance in a company where the interest of the company should come before personal interests. In a situation where personal gains prevail, the shareholders and employees feel the wrath as in the case of Enron. Conflict of interest destroys all company plans. In a position where an auditor is hired and paid by the management, chances of auditors giving decisions that suit the employer are high. External auditors are recommended in a public company to display the true financial position of a company. Organization behavior theories that led to problems at Enron and how they relate to the Event at Enron Organization behavior theories relate to ethics that dictate how companies should be run. For many years, philosophers have in literature stated and analyzed different theories that form the basis for ethics in business. Technological theories of ethics put more emphasis on the results of an action and can be classified into egoism and utilitarianism. In this case, egoism defines what is correct and what is wrong with respect to oneself. In such a case, when required to give any business decision, an egoist will put self-interest first. This theory is believed to lead to illegal behavior. In the case of Enron, the management put self first in the west coast where they leaped a lot of profits as employees lost their jobs while some lost their lives due to the artificial electricity demand scheme. Utilitarianism theory, on the other hand, puts more emphasis on the overall amount of good that might be produced by an action or a decision. In this case, a company might decide to expand its business physically or across the borders. Utilitarianism will analyze the amount of good that can be derived from this action. In the case of Enron, the management decided to introduce other trading activities like coal and water on top of the initial natural-gas busines s. This act was well rewarded since Enron stocks skyrocketed to generate high revenues in a short period of time. Deontological theories of ethics put more emphasis on: the rights of all individuals, and the intentions of the person(s) performing an action. It cannot harm some to benefit others but treats all equally. In the case of Enron Corporation, the government declared the corporation bankrupt, prosecuted all that mismanaged the company and participated in corrupt deals that severely affected the employees and investors. By doing this, it treated everybody accordingly. A Justice-based theory of ethics is concerned with the perception of fairness of actions. To determine the fairness of an action; distributive, procedural, and/or interaction rules are used. A just action treats all fairly and consistently in accordance with the set ethical or legal standards. In the case of Enron Corporation event, the court delivered justice on the criminal proceedings against the corrupt mana gement officials and the accounting firm. Relativism theory of ethics dictates that there are no universal principles of ethics and that right and wrong must be determined by each individual or group. It observes that standards of right and wrong may change with time and cultures. And hence the rights and wrongs are subject to interpretation (Barnett 1). Conclusion Any of the above listed problems will obviously befall a company if not checked well in advance. Enron Corporation was highly affected by organizational problems to the point of a closure and bankruptcy declaration of their accounting firm. The schemes demonstrated by the management were a sign of poor leadership, bad governance, greed for money, and self-centeredness. Mismanagement affects the employees, investors and the management itself. In the case of Enron, more than 20, 000 lost their jobs, two people died out of the faked electricity demand, senior management was taken to court, investors encountered losses, accou nting firm declared bankrupt and the sudden fall of Enron Corporation. But since some of these problems are due to ignorance, lack of personal will to do right, bending the law, and selfish interests, personal conscience and good governance are required to protect the interests of all in a company. Governments should prescribe stiff penalties for all forms of mismanagement, corruption and conspiracy in a public owned company. As of such, managers and directors in such companies should be vetted before assuming management positions to ensure transparency and professionalism. Works Cited Barnett, Tim. Ethics, Reference for business, Encyclopedia of business. Reference for Business, 2011. Web. Cunningham, Gary and Harris Jean. â€Å"Enron and Arthur Andersen: The Case of the Crooked E and the Fallen A.† Global Perspectives on Accounting Education 3.1 (2006): 27-48. Gibney, Alex. Enron The Smartest Guys In The Room. HDNET FILMS, 2005. Film. GUIDESTAR. How Ethical Is Your Nonprofi t Organization? GUIDESTAR, 2011. Web. Independent Lens. Enron: the smartest guys in the room. Public Broadcasting Service, 2011. Web. Markkula Centre for Applied Ethics. What Really Went Wrong With Enron? Santa Clara University, 2011. Web. This case study on Smartest Guys in the Room was written and submitted by user Ember Waller to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.