Types of Businesses - 2422 Words

Sole proprietorship Sole proprietorship concern (also known as a sole trader/owner) is the most common and most favored option for individuals who want to establish a small business in Pakistan, or want to start a home-based business. This form of business is used by majority of start-ups on Pakistan, and it is the simplest way of giving corporate face to a small business Formation Following are the main steps to start a sole proprietorship business:  · Finalize a business name.  · Print basic business stationary i.e. letterheads, visiting cards etc.  · Prepare firms name stamp (a common rubber stamp will do).  · Open a bank account in the name of sole proprietor business. The bank manager will require a request letter on business†¦show more content†¦Partnership A partnership or firm is established through written agreement between all the partners. The law governing the partnerships in Pakistan is contained in the Partnership Act 1932. Characteristics In Pakistan partnerships are of two kinds:  · Registered Partnership  · Unregistered Partnership There is no requirement to register a firm, however there are certain benefits of registering a firm. In case of registered firm, the partnership deed is registered with the Registrar of Firms. Unregistered partnership can be dissolved without any formality, however a registered firm can only be dissolved through a written dissolution application to the Registrar of Firms. By definition partnership is a relation between two or more persons who have agreed through a written partnership deed to conduct the business and share the profits and losses of the business according to the terms of the partnership deed. Partnership business can be conducted by all partners or any of the partners on behalf of others. A maximum of 20 partners are allowed to form a partnership. In a partnership firm the partners’ liability is not limited and they are fully liable for all claims or law su its against the partnership. Formation Registration of Partnership Procedure and Requirements The registration of Partnership firm is not required by law and there is nopenalty for non-registration. Nevertheless registration can give myadvantages to the firm.Show MoreRelatedTypes of Businesses1455 Words   |  6 Pagesestablishment of a contract. In most cases, this kind of partnership between a principal and agency is usually imposed through agreements reached by the power of attorney. Types of Agents: These types of agents include general agents, special agents, co-agents, and universal agents (Smith Osborne, par, 2). The other types of agents are servants, independent contractors, sub-agents or sub-servants, and sub-contractors. The general agents have a slightly limited scope but the capability of makingRead MoreDifferent Types of Businesses924 Words   |  4 PagesBusiness Scenario As discussed there are three different types of businesses, sole proprietor, partnership and corporations. With these businesses come many advantages and disadvantages that one will have to determine will best suit their own lifestyle. Starting a business is something very serious to plan and make sure you have the necessary financial backing to keep it running, and have the legal knowledge to keep yourself and organization covered. Lastly, if you have the knowledge and productRead MoreTypes Of E Businesses Models3011 Words   |  13 Pages In this paper I am going to argue three different E-businesses models, from different countries, and they have different sizes, successful, profitable and also innovative at the same time. To clarify these points I am going to discuss three main perspectives for each model. The first point is why do I consider this model is innovative, in the second point I am going to explain the value proposition and see what kind of customer the company is targeting and what is the basic services that the modelRead MoreTypes Of Operations Found Within Businesses1996 Words   |  8 Pages1.1 Outline the main types of operations found within businesses Every business is managed through multiple business functions each responsible for managing certain aspects of the business. There are four main types of operations found within businesses: †¢ Marketing function – which is responsible for communicating the organization’s products and services to its markets in order to generate customer requests for service †¢ Product/service development function – which is responsible for creating newRead MoreFamily Firms : The Most Common Types Of Businesses820 Words   |  4 PagesFamily Firms are the most common types of businesses in the world. They are dynamic and play an important part in the world economy. The earliest forms of family business were farms. In the U.S., 90 percent of American businesses are family firms. These firms provide employment for half of the population and account for around half of the GDP. The composition, management and ownership of a family firm is a complex and complicated process that involves specialized knowledge and skills in order toRead MorePositional Bias Is Rampant In All Types Of Businesses.1257 Words   |  6 PagesPositional bias is rampant in all types of businesses. The termination of employees needs to be handled without bias. Out dated views is also a factor. One of the female employee said that she was once associated with a company that required women to wear dresses and pantyhose while the men there was no dress code. Women can be professional without dresses and hose just as men can be professional without a tie. Sexual harassment is the danger zone that you might encounter in gender discriminationRead MoreOffice Services For Different Types Of Hospitality Businesses1868 Words   |  8 PagesRD2 Introduction This is an assignment on the general overview of the front of house and house keeping services in different types of hospitality businesses. I have chosen to talk about a B B and a luxury 5 star hotel, the roles and responsibilities of these departments and the legal statutory requirements for room division operations. 1.1 - Discuss accommodation (house keeping) and front office services for different organisations - The organisations i have decided to talk about are - ARead MoreTypes Of Business, Purpose And Ownership Of Two Contrasting Businesses Essay1227 Words   |  5 PagesTASK-1 Describe the type of business, purpose and ownership of two contrasting businesses. (P1). 1. A brief introduction to the two local businesses? For profit business kokuyo camlin limited (Kokuyo camlin limited) Source: https://www.google.co.in/search?q=kokuyo+camlin+logo Introduction: kokuyo camlin ltd formerly known as camlin ltd is an Indian stationery company based in Mumbai india kokuyo japan holds around 51% stake in kokuyo camlin camlin manufactures art materials marketRead MoreDescrib the Types of Stakeholders Involved in Two Contrasting Businesses1460 Words   |  6 PagesTask 2- P2 I am going to discuss the different stakeholders involved in two contrasting businesses. I am going to explore the stakeholders involved in each business and how they are affected by the company. My first organisation is Boots Alliance, a pharmaceutical shop on most high streets. My second organisation is Oxfam charity. Both provide goods or services to the public; however they have different stakeholders affecting their decisions. Stakeholders are anyone that affects or can affectRead MoreDescribe the Types of Business Purpose and Ownership of Two Contrasting Businesses718 Words   |  3 PagesP1 I will be relating the type of business, purpose and ownership of the two contrasting organisations. The two organisations that I will be choosing are: Oxfam and Sainsbury’s. Sainsbury’s Purpose/aims of Sainsbury’s The purpose of Sainsbury’s is that they are trying to make as much profit as possible, as they are competing with other supermarkets and be the number one UK’s supermarket, and this will allow them to expand on their business. Sainsbury’s have a long term goal to deliver their

Founding of Connecticut Colony

The founding of the Connecticut colony began in 1636 when the Dutch established the first trading post on the Connecticut River valley in what is now the town of Hartford. The move into the valley was part of a general movement out of the Massachusetts colony. By the 1630s, the population in and around Boston had grown so dense that settlers began to spread out throughout southern New England, concentrating their settlements along navigable river valleys such as those in Connecticut. Founding Fathers The man credited as the founder of Connecticut was Thomas Hooker, an English yeoman and clergyman born in 1586, at Marfield in Leicester, England. He was educated at Cambridge, where he received a Bachelors in 1608 and a Masters in 1611. He was one of the most learned and powerful preachers of both old and New England and was the minister of Esher, Surrey, between 1620 and 1625. He was the lecturer at St. Marys Church at Chelmsford in Essex from 1625–1629. Hooker was also a nonconformist Puritan, who was targeted for suppression by the English government under Charles I and was forced to retire from Chelmsford in 1629. He fled to Holland, where other exiles had sought refuge. The First Governor of Massachusetts Bay Colony, John Winthrop, wrote to Hooker as early as 1628 or 1629, asking him to come to Massachusetts. In 1633, Hooker sailed for North America. By October, he was made pastor at Newtown (now Cambridge) on the Charles River in the Massachusetts colony. By May 1634, Hooker and his congregation at Newtown petitioned to leave for Connecticut. In May 1636, they were allowed to go, and they were provided a commission by the General Court of Massachusetts. Hooker, his wife, and his congregation left Boston and drove 160 cattle southward, founding the river towns of Hartford, Windsor, and Wethersfield. By 1637, there were almost 800 people in the new colony of Connecticut. New Governance in Connecticut The new Connecticut colonists used Massachusetts civil and ecclesiastical law to set up their initial government. Most people who came to the American colonies came as indentured servants or commons. According to English law, it was only after a man had paid or worked off his contract that he could apply to become a member of the church and own lands. Freemen were men who had all the civil and political rights under a free government, including the right to vote. In Connecticut, whether a man was indentured or not, if he entered the colony as a free person, he had to wait over a one- to two-year probationary period, during which he was closely observed to make sure he was an upright Puritan. If he passed the test, he could be accepted as a freeman. If not, he could be forced to leave the colony. Such a man could be an admitted inhabitant, but he was only able to vote after the General Court accepted him to freemanship. Only 229 men were admitted as freemen in Connecticut between 1639 and 1662. Towns in Connecticut By 1669, there were 21 towns on the Connecticut River. The four main communities were Hartford (established 1651), Windsor, Wethersfield, and Farmington. Together they had a total population of 2,163, including 541 adult males. Only 343 were freemen. That year, the New Haven colony was brought under the Connecticut colonys governance. Other early towns included Lyme, Saybrook, Haddam, Middletown, Killingworth, New London, Stonington, Norwich, Stratford, Fairfield, and Norwalk. Significant Events From 1636 to 1637, the Pequot War was fought between the settlers in Connecticut and the Pequot Indians. By the end of the war, the Pequot Indians were decimated.The Fundamental Orders of Connecticut were created in 1639. Many believe that this written Constitution would become the basis for the later United States Constitution.The Colony Charter was accepted in 1662.King Philips (the Wampanoag leader Metacomet) War, in 1675, was the result of increasing tensions between Native Americans and Europeans in southern New England.The Connecticut colony signed the Declaration of Independence in October 1776.

Bibliography Of Performance Islamic Banks Example For Free - Free Essay Example

Sample details Pages: 5 Words: 1407 Downloads: 5 Date added: 2017/06/26 Category Finance Essay Type Argumentative essay Did you like this example? Abdel-Hameed M. Bashir, 2003, Determinants Of Profitability in Islamic Banks : Some Evidence from the Middle East, Islamic Economic Studies, vol. 11, No. Don’t waste time! Our writers will create an original "Bibliography Of Performance Islamic Banks Example For Free" essay for you Create order 1. Authors article study the determinants of profitability in Islamic banks across eight Middle East countries between 1993 and 1998. The author attempts to examine the relationship between the performance of Islamic banks and the internal and external banking characteristics. The performance of bank is measured by using the operating efficiency and profitability measures. The author also used several ratios to access the relationship between performance and internal bank characteristics. In order to separate the effects of bank characteristics on performance, the author has addressed the four variables of external characteristics that is necessary to control which are the macroeconomic environment, the financial market structure, the regulation indicators, and country (dummy) variables. The authors analysis found that a higher profit margins results from a larger equity to total asset ratio and larger loan to asset ratio interacted with GDP. Abdus Samad M. Kabir Hassan, 2009, The Performance of Malaysian Islamic Bank During 1984-1997 1997: An Exploratory Study, International Journal of Islamic Financial Services, Feb 2009, vol. 1, No.3 This article is an exploratory study on performance of Malaysian Islamic bank where the author evaluates the Bank Islam Malaysia Berhad (BIMB) performance in term of risk and solvency, community involvement, liquidity and profitability during 1984-1997. The author used financial ratios as the method to evaluate banks performance and also do the comparison of the performance of Bank Islam Malaysia Berhad (BIMB) between two periods that are 1984-1989 and 1990-1997. Not only have that, the author also made comparison between Bank Islam Malaysia Berhad (BIMB) versus other conventional banks. As the result, Bank Islam Malaysia Berhad (BIMB) relatively less risky and more liquid compared to other conventional banks. Anjum Siddiqui, 2008, Financial Contracts, Risk and Performance of Islamic Banking, Managerial Finance, vol. 34, No. 10 pp. 680-694 This article is discussing about the financial contracts, risk and performance of the Islamic Banks in terms of their contracts and risks. This article examines the risks occurred and the various modes of Islamic Banking. The author has stated that Islamic Banks are prohibited from acquiring any three elements into their transactions which are interest (Riba), uncertainty (Gharar), and gambling (Maysir). Since now, the Islamic Windows are very popular, there is an uncertainty whether the conventional banks with Islamic Windows products are receiving or paying any three elements stated above. There are several financial contracts which stated by the author, which are cost plus sales (Murabaha), credit sales (bay bithaman ajil), leasing (Ijarah), partnerships (Mudarabah and Musharakah), forward contracts (Salam and Istisna), and also Qardul Hasan (benevolent loan). Along with these financial contracts, there are several risks which the bank should bear. Some of the risks are credit r isk, liquidity risk, withdrawal risk, legal risk, operational risk and also the fiduciary risk. One of the risks which is commonly bear by the Islamic Bank is credit risk which means the risk is arise due to the asymmetric information. Mahmood H. Al-Osaimy Ahmed S. Bamakhramah, 2004, An Early Warning System for Islamic Banks Performance, Islamic Econ., vol. 17, No. 1, pp. 3-14 This article is about the warning system for Islamic banks performance where the author explored the increasing demand for predicting the performance of Islamic banks due to the vital importance of any problem that may face these banks before it materializes and negatively affects their performance and their financial status. The article comprehensively analyzes the save on the costs of bad performance or failure to depositors, owners and the economy. The rationale for an early warning system comes from several reasons. However, this article tries to find out at benefiting from the previous research efforts on the subject to develop a preliminary model for the prediction of the performance level of Islamic banks (i.e. an early warning system), hoping for further development and improvisation and application. The author also does the research or study on Discriminate analysis and scores are then extracted and used to differentiation between the higher and lower performance groups of banks, then forming a possible early warning system for the prediction of future performance of the observed banks. Lastly it was tested and conclusions were made. Racha Ghayad, 2008, Corporate Governance and the Global Performance of Islamic Banks, Humanomics, vol. 24, No. 3, pp. 207-216 In this article, the author attempts to study the corporate governance and the global performance of Islamic banks. The author found that the elements that affect the performance of Islamic banks are the internal variables of quantitative nature and the internal qualitative variables. The author also revealed that the previous Sharia board members have lack of knowledge in modern banking, experience, and banking language. In order to ensure a better quality of supervision and consultation, they need a qualification in finance and commerce. Besides that, the author has addressed two roles of Sharia board in the operation of Islamic banks which are legal and tacit role. These roles are essential in order to ensure that the Islamic banks are in compliance with the Sharia rules and principle in their operation. Salina H. Kassim M. Shabri Abd. Majid, 2010, Impact of financial shocks on Islamic banks : Malaysian evidence during 1997 and 2007 financial crises, International Journal of Islamic and Middle Eastern Finance and Management, vol. 3 No. 4, pp. 291-305 From the article above, the author is discussing on the ability of the Islamic banks facing the financial crisis, namely the 1997 Asian financial crisis and 2007 financial crisis. The study is to look whether the Islamic banks is more resilient compared to the conventional banks. This is due to the instinctive nature which all of the financial transactions must be based on the trade and also asset linked. This is also because of the Islamic banks practices which emphasize on the trade based arrangements and prohibits the involvement of the interest based transactions. From the quotation of other journal stated in this article, there is proof that Islamic banks are more liquid than the conventional banks and thus less exposed to the liquidity risk. The author use two methodologies to test the Islamic banks and deposits financing. There are impulse responds functions and variance decomposition analysis. The result shows that Islamic financing respond significantly to the crisis. Sudin Harun, 1996, The Effects of Management Policy on the Performance of Islamic Banks, Asia Pacific Journal of Management, 1996, Vol. 13, No. 2 In this article, the author attempt to examine the effects of management policy on the performance of Islamic banks. Author used three variables included investment, savings and current accounts to indicate the effects of management policy on profitability. The author also found an opposite relation between fund-use management and profitability ratios. Other than that, the author also found the percentage of income from financing activities towards profit-sharing ratio measures between Islamic banks and the users of fund. For the profit-sharing ratio between banks and depositors, it seem give benefits to both parties. Turen S., 1996, Performance and Risk Analysis of the Islamic Bank: The Case of Bahrain Islamic Bank, Islamic Econ., vol. 8, pp. 3-14 In this article, the author uses the analysis from Bahrain Islamic banks. The purpose of this paper is to investigate quantitatively and also at micro level the claim that Islamic banking offers high performance and stability and to evaluate the risk-return characteristics of the Islamic banks, Bahrain Islamic Bank (BIB) has been taken as an example. The research is conducted through three different methods that is financial ratio analysis and stock analysis both indicate that BIB offers a higher return and a lower coefficient of variation than the other commercial banks. Portfolio analysis too, shows that BIBs stock is the best for the purpose of portfolio diversification. The results of the investigation can be used as a partial but quantitative explanation to the arguments whether the profit sharing concept of Islamic banking can achieve a higher profitability and lower risk than conventional commercial banks.  ­Ãƒâ€šÃ‚ ­Ãƒâ€šÃ‚ ­Ãƒâ€šÃ‚ ­Ãƒâ€šÃ‚ ­Ãƒâ€šÃ‚ ­Ãƒâ€šÃ‚ ­Ãƒâ€šÃ‚ ­Ãƒâ€šÃ‚ ­Ãƒâ€šÃ‚ ­Ãƒâ€šÃ‚ ­Ãƒâ€šÃ‚ ­Ãƒâ€šÃ‚ ­Ãƒâ€šÃ‚ ­____________________________________________________________________________ SUMMARY OF JOURNAL ARTICLES ON THE RESEARCH TOPIC From the literature review above of the title of The Performance of the Islamic Banks in Malaysia, we had found that there are many determinants of the Islamic banks to be efficient in various ways. From the topic above, we can clarify that Islamic banks also has to perform better to compete with the conventional banks. Most of the articles summarized are discussing on the performance if Islamic banks itself and its efficiency. We believe that the summary is important to the research topic when it will be conducted.

Moral decadence among teenagers - 6921 Words

AWARENESS AND APPRECIATION OF SUNNAH OF THE PROPHET MUHAMMAD S.A.W AMONG MUSLIM ADOLESCENTS IN SELANGOR Norsila Shamsuddin, Muhamad Wazir Muslat, Farid Wajdi Bin Mohd Noor, Noor Fadhzana Mohd Noor, Hafizah Khusni, Mujaini Tarimin Faculty of Education and Social Sciences University Selangor norsila@unisel.edu.my,mwazir@unisel.edu.my,faridwajdi@unisel.edu.my fadhzana@unisel.edu.my, hafizah@unisel.edu.my, muzaini@unisel.edu.my ABSTRACT By abiding to the examples and Sunnah (prophetic traditions) taught by the Prophet s.a.w, morality among the Muslim adolescents should be evident. But, the morality scenario is worsened. It is posited that awareness and appreciation of the Sunnah of the Prophet s.a.w among the Muslim adolescents is†¦show more content†¦Its being frequently used has made the exact definition of awareness been left undetermined. Nevertheless, the term of awareness is perpetually accompanied with the level of knowledge, as seen the studies of Aadam T. Aris (2012), Joyce K.H. Nga (2010) and Indrani R. Halady, 2010), or with certain level of engagement in the practice (Faisal Talib, 2012), or recognition and assigning oneself to the subject matter (Gudmundur Aevar Oddsson, 2010), or understanding and perception (Diana Bowman, 2007), or exposure to subject without in-depth knowledge (Donna Morrison, 2012) or even relating awareness to the fact of knowing the existence of the subject matter, differentiating it from knowledge (Akinniyi A. Adeleke, 2012). A research was also conducted to investigate a level of awareness by asking the respondents to rate their performance as to prove their level of awareness towards their physical activities, and this was even validated with heart rate monitors and accelerometers (Stef P.J. Kremers, 2008). Appreciation on the other hand brings along a different dimension. Superficially the term appreciate denotes liking and preferability. In Alain d’Astous (2007), he enjoined the meaning of appreciation with favoritism, attachment, probability to recommend to others, high rated, love and pleasure. Besides that, Fagley (2012) in Adler and Fagley (2005) defined appreciation as acknowledging meaning and value of something – anShow MoreRelatedThinking Globally and Acting Locally 1172 Words   |  5 Pagesdominated in the entertainment market across the world. Youths in different countries enjoy the MTV shows and programs. However, this has had both negative effects and positive effects on the youths. Globalization has led to an increasing connection among different people of the world. This means the youths are to know about what is happening in the larger environment. The youths have borrowed and shared good ideas and innovations across the world under the maxim of thinking globally and acting locallyRead MoreEssay on Americas Moral Decline2015 Words   |  9 PagesAmericas Moral Decline One of the most pressing problems facing America today is our moral crisis. This problem is one that is related to many other social dilemmas. It has a correlation to our rising crime rate, drug usage, and a trend towards sexual irresponsibility. It is imminent for Americans to find a cure for this moral disease lest we are bound for chaos. In order to solve this problem we must first, as with any problem, determine the causes. One of the causes is the overallRead MoreSociety Divided By Sexual Education Program Essay1698 Words   |  7 PagesIn Panama, just last year, more than ten thousand teenagers became pregnant, leading to high rates of school dropouts and increasing poverty in certain areas of the country. In her article â€Å"Society Divided by Sexual Education Program,† journalist Rosalia Simmons exposes the different perspectives the Panamanian society has regarding the law 61, which consists of the implementation of a sexual education subject in the curricu lum of all the schools in Panama, whose main target is students from ageRead MoreSexual Identity1409 Words   |  6 Pagesform all my values on sexual experiences. Growing up, I was taught that sex before marriage was wrong. As I grew into a young adult, I used the situational ethics approach, and I still do today. The approach that formulates a value system based on moral law is the legalism approach (Rathus, Nevid, and Fichner-Rathus, 2005). However, the situational ethics approach bases decisions on the value system according to the situation at hand. Prior to losing my virginity at age 17, I was taught that sex beforeRead MoreObscenity Laws Texts Schools And Public Libraries2132 Words   |  9 Pagesreaders. This phenomenon comes about from what is termed as the reception theory. The mind tends to develop in accordance with the exposure (Cossman 50). It is evident that these scenes tend to be more attractive to the unsuspecting persons, mostly teenagers; therefore, developing strategies to protect them is essential. The Canadian government believes that continuing to produce these materials can corrupt the minds of the readers and the wider population. Unfortunately, the use of books containingRead MoreProblems of Upbringing4514 Words   |  19 Pagesand excel in everything else. In this rat-race they turn their children into display objects; possessions which they can be proud to show off to their friends and relatives and for others to talk about. In the good old days, life as a child and a teenager was never stressful because there were not too many expectations to fulfil. But children these days, especially those in urban areas, seem to have so many things to do and compete in that they are deprived of a normal childhood. Many people failRead MoreGp Essay Mainpoints24643 Words   |  99 Pageschannels †¢ Any work, regardless of its value, can easily get broadcasted to a global audience †¢ Publishers want to ensure that their books sell *quality check* †¢ Any hack can put up his dribbling on Fictionpress.net †¢ Any angst-filled teenager can put up his or her macabre, misspelt poetry online. †¢ Anyone can masquerade a superstition for scientific truth and create a website to scare similarly weak-minded netizens Mainstream BAD: Profit motive and Government-regulated - reliability

Socialcultural Influences on Consumer Behavior Free Essays

Sociocultural Influences on Consumer Behavior. Marketing Trey Hampton September 22, 2012 There are lots of influences that take place on what consumers buy, these influences are called sociocultural influences. Sociocultural influences â€Å"involve personal influence, reference groups, family influence, culture, and subculture. We will write a custom essay sample on Socialcultural Influences on Consumer Behavior or any similar topic only for you Order Now †(Kerin, Hartley Rudelius 108) Out of these categories, personal influence seems to have the biggest influence of all on what people buy. â€Å"A consumer’s purchases are often influenced by the views, opinions, or behaviors of others. (Kerin, Hartley Rudelius 108) If it works for others, it will work for me is how this influence works. Two types of influences fall under personal influence, opinion leadership, and word of mouth. People seem to buy what they hear is good, rather than taking a shot in the dark and buying something they know nothing about, this is called word of mouth influence. Companies using celebrities to say their product works and is great is an example of opinion leadership. If someone famous uses it, it must be good! A company that uses personal influence to help sell their products is Gaspari Nutrition (www. Gasparinutrition. com). Gaspari nutrition uses big time champion bodybuilders, such as Flex Lewis, in their advertisement saying I use the product so the consumer believes that taking that product will surely give the same results. Also word of mouth plays a part on their success. At the gym they line the shelves with Gaspari products and the person selling them say â€Å"I take this every day, it gives real results. † However, it is common for people that not like their products and they will tell you how they wasted money on something that doesn’t work. All companies will have good and bad influences on their products, but if the product is good it shall overcome the bad and help the company succeed. Influence is everywhere for the good, or for the bad. People get influenced by seeing someone they idol using the product, or simply hearing how good it is by a friend. Influence has always been around and always will be. It’s a powerful thing that makes or breaks companies today. References: Kerin, Roger A. , Hartley, Steven W. , and Rudelius, William. (2011). Marketing The Core. (4th edition). New York McGraw-Hill/Irwin How to cite Socialcultural Influences on Consumer Behavior, Essay examples

Ethical Perspective on Accounting Standard

Question: Discuss about the Ethical Perspective on Accounting Standard. Answer: Introduction Sharing the same primary and secondary schools, Matt and Stephanie wanted to help each other during their time of need. Matt had been going through a financial crisis while Stephanie was struggling to establish her business in advertising (Needles et al. 2013). Stephanie had asked Matt to help in her bid and analyze her bid. This assignment would give an idea whether Matt should analyze the bid of Stephanie or not. Matt and Stephanie are said to be childhood friends who had shared their primary and secondary schools and university. Both Matt and Stephanie are well established in their career. However, recently Matt had been suffering from financial crisis and Stephanie wants to establish her successful advertising firm with the help of Matt. In return, Stephanie would help Matt to solve his financial crisis. Matt should not hesitate to help Stephanie in this case as they are childhood friends and it is expected that Stephanie would not cheat Matt at any context (Himick et al. 2016). In-fact, the strong background of Stephanie would help her to establish her business and it would help Matt to solve his financial crisis. Thus, Matt should not feel any reservation to help Stephanie and the instincts of Matt are incorrect. It would not be ethical to analyze Stephanies bid. This is because Matt works in a company where he had been appointed as an accountant and the firm trusts him. However, Matts responsibility is to stay loyal towards the company without taking any advantage of his position (Henderson et al. 2015). However, as a friend Matt can provide some ideas to Stephanie, as a friend, so that she can analyze the bid herself. According to APES 110 Revised Code of Ethics for Professional Accountants (effective 1 July 2011 with early adoption permitted) issued by the Accounting Professional and Ethical Standards Board, there lies a fundamental principal in APES 110 Code of Ethics for Professional Accountants (George et al. 2014) . This fundamental principle states that an employee must be straightforward and honest in all professional and business relationships. Thus, on analyzing Stephanies bid, Matt would violate the fundamental principle of not being honest in his profession. Conclusion Matt would be advised not to analyses the bid of Stephanie, which would help her to establish her successful advertising business. This is because Matt works in FCPA designation as an accountant and he has some responsibility towards his company. Though Matt is suffering from financial crisis, but analyzing the bid of Stephainie would force him to violate APES 110 Revised Code of Ethics for Professional Accountants. This can land him into trouble if his company comes to know about his betrayal. It could hamper his career permanently. Thus, it is advisable that Matt can suggest some analysis techniques of bid to Stephainie and advise her to use them of her own to analyze her bid. It would help Matt to remain loyal towards his company as well as play the role of a helpful friend. References George, G., Jones, A. and Harvey, J., 2014. Analysis of the language used within codes of ethical conduct. Journal of Academic and Business Ethics, 8, p.1. Henderson, S., Peirson, G., Herbohn, K. and Howieson, B., 2015. Issues in financial accounting. Pearson Higher Education AU. Himick, D., Brivot, M. and Henri, J.F., 2016. An ethical perspective on accounting standard setting: Professional and lay-experts contribution to GASBs Pension Project. Critical Perspectives on Accounting, 36, pp.22-38. Needles, B.E., Powers, M. and Crosson, S.V., 2013. Principles of accounting. Cengage Learning.

Are Americans Scientifically Illiterate free essay sample

An analysis of the extent and value of scientific awareness of Americans. This paper discusses whether or not Americans today are scientifically illiterate. The author makes comparisons to other countries, and discusses what a scientifically aware person should be able to understand. The question about whether science education in America is adequate enough has been raised over the past few decades. People claim that they are scientifically aware and are quite capable of irrational thinking. On the other hand, surveys have been conducted to show that most people are, in fact, scientifically illiterate. One would expect that if a nation truly was scientifically aware, than at least half the population would be able to correctly answer simple problems about the Earth and the elements within this planet. However, according to a new survey conducted by the National Science Foundation, only about 23 percent of those adults understand the nature of scientific inquiry well enough to make informed judgments about those science stories. We will write a custom essay sample on Are Americans Scientifically Illiterate? or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page