Movie Summary The Shawshank Convention Essay Example

Movie Summary The Shawshank Convention Essay The Film ‘The Shawshank Redemption’ (1994) directed by Frank Darabont is about a mans journey from being falsely convicted of murder to escaping through a drain pipe. One incident in the film where TommyWilliams is murdered causes the attitude of the main character, Andy, to drastically change. The turn of events in the film causes Andy to lose hope and take the significant step of escaping the prison. Tommy Williams is a fellow prisoner who joins Andy in Shawshank deep into Andy’s sentence. Coincidentally he is also the one and only person aware of Andy’s innocence in the crime he is wrongfully convicted for.As expected after learning of this Andy immediately confronts Warden Norton in the hope of being released as new evidence has come to light, giving Andy hope. However, Andy is instantly shot down by the Warden, who seeks to continue exploiting Andy’s skills in handling and making his money. As Andy refutes the explanation the Warden gives on why Tommy testifying will not help, he is sentenced to a month in the â€Å"hole,† where darkness surrounds the flesh and light escapes each and every corner of the room. Acting on impulse, the Warden then orders Captain Hadley to execute Tommy in case if any issues were to arise shortly. The actions the Warden takes in the film are similar to what humans do to the present day. For our selfish and personal desi res we may sometimes be very inconsiderate of others and how our choices affect them, be it for money, fame and happiness and in the modern society selfishness can be hidden in all form of our lives from work to play. Darabont shows this ideal through the Wardens exploitation of Andy. We will write a custom essay sample on Movie Summary The Shawshank Convention specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Movie Summary The Shawshank Convention specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Movie Summary The Shawshank Convention specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Andy is released from the â€Å"hole† after an extended sentence due to him confronting the Wardens decision once again. He comes to learn that Tommy was killed, and the remaining hope left in him is shattered into pieces. Andy’s attitude is now portrayed to be distant and dull by the use of

Fusion Essays - Fusion Power, Plasma, Tokamak, Free Essays

Fusion Essays - Fusion Power, Plasma, Tokamak, Free Essays Fusion Fusion reactions are inhibited by the electrical repulsive force that acts between two positively charged nuclei. For fusion to occur, the two nuclei must approach each other at high speed to overcome the electrical repulsion and attain a sufficiently small separation (less than one-trillionth of a centimeter) that the short-range strong nuclear force dominates. For the production of useful amounts of energy, a large number of nuclei must under go fusion: that is to say, a gas of fusing nuclei must be produced. In a gas at extremely high temperature, the average nucleus contains sufficient kinetic energy to undergo fusion. Such a medium can be produced by heating an ordinary gas of neutral atoms beyond the temperature at which electrons are knocked out of the atoms. The result is an ionized gas consisting of free negative electrons and positive nuclei. This gas constitutes a plasma. Plasma, in physics, is an electrically conducting medium in which there are roughly equal numbers of p ositively and negatively charged particles, produced when the atoms in a gas become ionized. It is sometimes referred to as the fourth state of matter, distinct from the solid, liquid, and gaseous states. When energy is continuously applied to a solid, it first melts, then it vaporizes, and finally electrons are removed from some of the neutral gas atoms and molecules to yield a mixture of positively charged ions and negatively charged electrons, while overall neutral charge density is maintained. When a significant portion of the gas has been ionized, its properties will be altered so substantially that little resemblance to solids, liquids, and gases remains. A plasma is unique in the way in which it interacts with itself with electric and magnetic fields, and with its environment. A plasma can be thought of as a collection of ions, electrons, neutral atoms and molecules, an photons in which some atoms are being ionized simultaneously with other electrons recombining with ions to form neutral particles, while photons are continuously being produced and absorbed. Scientists have estimated that more than 99 percent of the matter in the universe exists in the plasma state. All of the observed stars, including the Sun, consist of plasma, as do interstellar and interplanetary media and the outer atmospheres of the planets. Although most terrestrial matter exists in a solid, liquid or gaseous state, plasma is found in lightning bolts and auroras, in gaseous discharge lamps (neon lights), and in the crystal structure of metallic solids. Plasmas are currently being studied as an affordable source of clean electric power from thermonuclear fusion reactions. The scientific problem for fusion is thus the problem of producing and confining a hot, dense plasma. The core of a fusion reactor would consist of burning plasma. Fusion would occur between the nuclei, with electrons present only to maintain macroscopic charge neutrality. Stars, including the Sun, consist of plas ma that generates energy by fusion reactions. In these natural fusion reactors the reacting, or burning, plasma is confirmed by its own gravity. It is not possible to assemble on Earth a plasma sufficiently massive to be gravitationally confined. The hydrogen bomb is an example of fusion reactions produced in an uncontrolled, unconfined manner in which the energy density is so high that the energy release is explosive. By contrast, the use of fusion for peaceful energy generating requires control and confinement of a plasma at high temperature and is often called controlled thermonuclear fusion. In the development of fusion power technology, demonstration of energy breakeven is taken to signify the scientific feasibility of fusion. At breakeven, the fusion power produced by a plasma is equal to the power input to maintain the plasma. This requires a plasma that is hot, dense, and well confined. The temperature required, about 100 million Kelvins, is several times that of the Sun. Th e product of the density and energy confinement time of the plasma (the time it takes the plasma to lose its energy if not replaced) must exceed a critical value. There are two main approaches to controlled fusion namely, magnetic confinement and inertial confinement. Magnetic confinement of plasmas is the most highly developed approach to controlled fusion. The hot plasma is contained by magnetic forces exerted

Prepositions in English Grammar

Prepositions in English Grammar In English grammar, a preposition is a word that shows the relationship between a noun or pronoun and other words in a sentence. Prepositions are words like in and out, above and below, and to and from,  and theyre words we use all the time. How useful are prepositions? Just look at how many prepositions are italicized in this simple sentence from E.B. Whites Charlottes Web: For  the first few days  of  his life, Wilbur was allowed to live  in  a box  near  the stove  in  the kitchen. Prepositions in English Grammar Prepositions are one of the basic  parts of speech  and are among the words that we use most when composing sentences. They are also a member of a closed word class, meaning  that it is very rare for a new preposition to enter the language. There are only about 100 of them in English. Prepositions often refer to location  (under  the table), direction (to  the south), or time (past  midnight). They can also be used to convey other relationships: agency (by), comparison (like, as . . . as), possession (of), purpose (for), or source (from, out of). Simple Prepositions Many prepositions are made up of only one word and are called  simple prepositions. These include short and very common words like  as, at, by, for, and of.  You also use prepositions such as about, between, into, like, onto, since, than, through, with, within, and without to show a relationship between words. There are many occasions where you might confuse prepositions. For example, sometimes it is difficult to know when you should use  in, into, on, or at.  This is because their meanings are very similar, so you have to look at the context of the sentence. Many prepositions have an opposite as well. For instance, you can use  before or after, inside or outside, off or on, over or under, and  up or down.   Quite a few prepositions express the relationship of things in space. Examples of these include aboard, across, amid, among, around, atop, behind, beneath, beside, beyond, near, over, round,  and upon. Prepositions can also refer to time. Among the most common are  after, before,  during, till,  and  until. Other prepositions have unique uses or can be used in multiple ways. Some of these include  about, against, along, despite, regarding, throughout, toward,  and  unlike. Complex Prepositions In addition  to  the simple prepositions, several word groups can perform the same grammatical function. These are called  complex prepositions. They are two- or three-word units that combine one or two simple prepositions with another word. Within this category, you have phrases like  in addition to  and such as.  Whenever you say  thanks to or in between, you are also using a complex preposition. Identifying Prepositional Phrases Prepositions are not in the habit of standing alone. A word group with a preposition at the head followed by an  object  (or  complement) is called a  prepositional phrase. The object of a preposition is typically a  noun  or  pronoun:  Gus put the horse  before the cart. Prepositional phrases add meaning to the nouns and verbs in sentences. They usually tell us  where, when,  or  how and the words of a prepositional phrase can often be rearranged. A prepositional phrase may do the work of an  adjective  and modify a noun:  The student  in the back row  began to snore loudly. It may also function as an  adverb  and modify a verb:  Buster fell asleep  during class. Learning to identify prepositional phrases is often a matter of practice. After some time you will come to realize how frequently we rely on them. Ending a Sentence With a Preposition You may have a heard the rule that you should never  end a sentence with a preposition. This is one of those rules that you dont have to put up with. It is based on the etymology of preposition, from the Greek for put in front, as well as a false analogy to Latin. As long ago as 1926, Henry Fowler dismissed the rule about preposition  stranding as a cherished superstition ignored by major writers from Shakespeare to Thackeray. In fact, in A Dictionary of Modern English Usage he said, the remarkable freedom enjoyed by English in putting its  prepositions  late and omitting its relatives is an important element in the flexibility of the language. Essentially, you can ignore this rule, and you can cite Fowler to anyone who tells you otherwise. Go ahead and end your sentence with a preposition if you want to. Prepositions Functioning as Another Part of Speech Just because you see one of the prepositions weve mentioned used, does not mean that they are being used as a preposition. It depends on the circumstances, and this is one of those tricky parts of the English language, so dont let these fool you. Certain prepositions (after, as, before, since, until) serve as  subordinating conjunctions  when theyre followed by a  clause: You better get out of town  before  sundown. (Before  is used as a preposition.)Many people run out of ideas long  before  they run out of words. (Before  is used as a conjunction.) Some prepositions (including  about, across, around, before, down, in, on, out,  and  up) also moonlight as  adverbs. These are sometimes called  prepositional adverbs  or  adverbial  particles. Beth walked  up  the driveway. (The preposition up is followed by the object.)Beth looked  up. (The prepositional adverb up  is modifying the verb looked.) Deverbal Prepositions Transitive prepositions that take the same form as -ing participles or -ed participles are called deverbal prepositions. It is a rather short list, but it is important to understand that these are also prepositions. according (to)allowing (for)barringconcerningcountingexceptingexcludingfailingfollowinggivengonegrantedincludingowing (to)pertaining (to)regardingrespectingsavingtouchingwanting Source: Fowler H.  A Dictionary of Modern English Usage. 2nd ed. New York, NY: Oxford University Press; 1965.

THERE ARE 5 KEY CONTINGENCIES. TO WHAT EXTENT CAN MANAGERS IGNORE OR Essay

THERE ARE 5 KEY CONTINGENCIES. TO WHAT EXTENT CAN MANAGERS IGNORE OR MEDIATE THESE CONTEXTUAL FACTORS UNDER WHAT GENERAL CONDITIONS MIGHT MANAGERS BE FORCED TO RESPOND TO THESE FACTORS - Essay Example The imperatives of the fast changing perspectives in managerial leadership within an organization have become vital to its impact on the performance outcome of the employees and organization, as a whole. Hitherto, managerial leadership or managers were solely responsible to achieving the targeted production and efficient administration through a well defined rational analysis, planning and decision making which distinctly lacked consideration and importance of human interaction in the organizational culture. Today the equation seems to have changed and ‘we approach managerial leadership as a relational, ongoing social construction process rather than as a single clear cut phenomenon’ (Sjostrand and Tyrstrup, 2001). The various aspects of the interactive elements of the organization, work together to produce a cohesive, output representing the organizations unique objectives and goals. The different contextual factors vis-Ã  -vis size, technology, environment, diversification and globalization are vital elements that have significant impact on the managerial decision making. Organisation’s performance outcome is directly related with the size of its workforce that may be working within well defined parameters of organizational structure. The stratified but focused division of labour within the organization is an intrinsic part of management strategy to achieve the organisation’s goals and objectives. The strategy of the managerial leadership to transform the workforce into human capital is being accepted as an inherent part of organisational culture. The changing socio-economic environment made it necessary that more consideration be paid to socio-cultural and political environment so that the requirements of the people became the focal point in the development of strategy. McGregor has been emphatic that proactive participation of the workforce in the decision making is imperative for

Lucas v. South Carolina Coastal Council Case Essay

Lucas v. South Carolina Coastal Council Case - Essay Example This required a just compensation be paid out. The court agreed, finding that Lucas parcels were valueless and entered a reward of over $1.2 million. In reversing the ruling, the State Supreme Court bound itself by finding that Lucas failed to attack the validity of the Act. It found that if a regulations design aimed at preventing noxious or harmful use of property, there was no compensation required regardless of the effect of the regulation on the value of the property. A taking is constitutive of all regulations that deprive the land owner of all uses of his land that are economically beneficial (Echeverria & Ebby, 2009). This is unless the interests of proscribed use are missing from the title. The decree or law should only duplicate the result achievable in a court under the nuisance law. Analysis of total takings needs consideration of the following: Stevens J. dissented to the ruling by attacking the categorical rule as made by the court. According to him, the rule was an unwise and unsound addition to the undertakings law (Echeverria & Ebby, 2009). The court, in past rulings, had rejected any formulas that were absolute in the determination of takings and had in previous rulings frequently held a law which rendered valueless property as not constituting a taking. Blackmun J. also dissented. He claimed that the court’s granting of certiorari to this case’s hearing was unnecessary as it ignored its limits of jurisdiction. It created an exception and a categorical rule anew simultaneously. The owner would not have undergone a total loss since he could still enjoy other ownership attributes like exclusive rights to camping, swimming, and picnicking. Cities can take private property and put them up for development privately. This is the eminent domain, whose basis is that a sovereign state possesses dominion over all property within the borders it administers. In the year 2005, Kelo vs. the City of New London came before the U.S. Supreme Court.

Throughout life Essay Example for Free

Throughout life Essay Every situation that an individual is exposed to throughout life, helps mold our self. As humans we have the ability to see ourselves from the outside, and all through life we try to see what others see and our self revolves around the generalized other. We observe how others perceive us and we make conclusions depending on our observations. How we act around others depends on the image we feel they have towards us. Charles Horton Cooley, a symbolic interactionist, concluded that our sense of self develops from interactions with others. Cooley described this process as the looking -glass self. The looking- glass self consisted of three elements. We first imagine how we appear to those around us. We may feel that others see us as boring or quiet. Therefore we try to interpret the reactions of others when we are around them to confirm if what we think is true. If others seem to avoid to talk to you or if you really cant keep a continuous conversation, this may prove to you that you are indeed boring and not so conversational, maybe making you a little uncomfortable when being around people. On the other hand if you see yourself as an individual who can communicate without a problem and you see that you can keep others interested in a given conversations, your reaction is more positive. Through this looking- glass self we develop a self concept. Depending on the observations we make concerning the reactions of others we develop feelings and ideas about ourselves. The reflection we see in the mirror is either negative or positive depending on the feedback we get back from those around us. Misjudgments of the reactions of others become part of our self concept also the misinterpretations of how others think of us. Self concepts begins in childhood but it continues to develop throughout life. As we observe how other people react to us, we modify our self. The self is never a finished project, and it continues to change as our life takes different turns. Our self reacts to the environment that we are in. As the self expands we put together the different reactions making us a unique individual. Every individual has a different way of thinking and therefore they make their own choices about certain situations. Going through different life changes, means the self is expected to change to accommodate the life stage we find our selves in. The way we perceived things when we were adolescents changes when we become adults. We perceive things differently and take in reactions with a different attitude. Even though the family sets basic fundamentals of our personality, we are not destined to keep those characteristics if we dont like them. We can expose ourselves to different groups and ideas that we prefer. Therefore our self transforms depending on the circumstances that we are in. Cooley concluded that our sense of self develops from interactions with others, therefore we modify our self depending on those people around us. For example if we perceive the reactions of others towards us as negative, we tend to change the way we act and sometimes think. There are times when we might try to fit in to a crowd were our self those not meet there qualifications and we focus on the generalized other. The way society expects an individual to be, also tends to bring about change in a persons self over the course of time. Society sets standards and as individuals we tend to form ideas about the way others see us. The self is something that never stops expanding. Change is inevitable, since we must accommodate to our environment. Our self is build by the interactions we have with others, therefore the reactions that we obtain from those around us are very important. This reactions can create either a positive or negative reflection that will influence the way we feel about ourselves and even some of the choices we make in life.

Teaching Methods and Attitudes in Willie Russells Our Day Out Essay

Willie Russell the author of the play â€Å"Our Day out† had a very similar life to the children in the play. Russell comes from a working class background. Russell left school at the age of fifteen with no formal qualifications. When he left school he became a ladies hairdresser for five years, then a labourer for a further year. After this he enrolled on a one year ‘A’ level course this enabled him to go to ST. Katherine’s college of higher education in order to train as a teacher. Soon after this Russell decided that he would like to become a playwright after he attended a play at the Liverpool’s ‘everyman theatre’. He attended night classes specialising in drama. This is when he began writing plays. â€Å"Our Day Out† is based around a school trip from the inner cities of Liverpool to Conway Castle in Wales. This play focuses on the Progress class and their first outing on a trip with two teachers called Mr. Briggs and Mrs. Kay. They are special needs children with learning difficulties, and are taught by Mrs. Kay who is in charge of the trip. The teachers, Mr. Briggs and Mrs. Kay are best suited for the needs of the children in the Progress class. The main pupil in whom this play focuses on is a girl named Carol. Carol is a poor young girl who is eager to attend the trip, she rushes to school with enthusiasm. The deeper issues that you draw your attention are different teaching methods, attitudes towards the children, special needs education and the possibility of escaping a poor a background for both the teachers and the children. An example of the different teaching methods is Mrs. Kay is a very calm, kind, soft and gentle character and lets the children ‘get away with murder’ whereas Mr. Briggs is very abrupt, loud and shouts a lo... ...nk we should be inside, looking after them.† I think Mr. Briggs was right as the children could have been doing anything in the shop. ‘Scene twenty-one’ shows us Mr. Briggs’s views on teaching the children. Mr. Briggs wants the children to have a planned teaching method, he doesn’t like Mrs. Kay’s way of teaching as he thinks it is unorganised. I think this tells us about his character, that he knows that is the children are taught properly they can succeed. On the top of the cliff when Carol says that Briggs is just scared he’ll get into trouble if she jumps, I don’t think this is true as I really think that Mr. Briggs was caring about Carol and didn’t want her to hurt herself. I think Mr. Briggs took the kids to the fair as he was feeling very sorry for them also he had let out some deep feelings throughout the day, it just shows that every one has a nice side.

Osmosis lab Essay

The Measurement of the Rate of Osmosis by using â€Å"Deshelled† Chicken Eggs (Effect of Solute Concentration upon Rate/Degree of Osmosis in Chicken Eggs) Introduction Every cell needs a mechanism that it uses in the maintenance of a constant internal environment. This is important in the control of the ever changing external environment to the cell. The transfer of materials to and from the cell thus needs a very stable mechanism to achieve this status. Cells are therefore bound a membrane that acts the selective controller of the movement of different substances to and from the cell. This is especially when dealing with the solutes both to and from the cell. Some solutes must be allowed to move into and out of the cell depending on the need and urgency of the very solutes. This membrane is considered to selectively permeable to different solutes and thus will only allow the passage of specific solutes to and from the cell. This implies that the membrane to most cells is selectively permeable or has a differential permeability to different solutes. Both the internal and the external environment to the cell are composed an aqueous solution that is made of dissolved organic and inorganic substances. The gradual or spontaneous movement of these substances in and out the cell are guided by a mechanism called diffusion. This is a movement by molecules to a region of lower concentration from that of higher concentration. A good number of studies have been used in the biology field that are related to the use and importance of such passive movements in the cells and the entire organisms. There exist a number of passive movements that are vital to the functioning of several organisms. These include movements like diffusion, osmosis and others. However, the paper will be pegged onto the factors related to osmosis. The experiment will try to underscore the importance of osmosis using the shelled eggs cells. This will also encompass the effects of several salt concentrations to the egg cells. Research Questions The paper tires to answer a number of questions related to osmosis. First, it seeks to understand and illustrate the importance of osmosis to the cellular life of an organism. It will also seek to underscore the vitality  of the osmosis process to the mode of transport in the egg cells. It will go ahead to explain the relevance of different solutions to the eggs cells. It then explains the role and importance of osmosis to the tissues and cells in the body. When dealing with osmosis, we use several terms. These are the hypertonic, hypotonic and the isotonic. These are used in relation to the relative concentrations of such solutions to the cell sap being investigated. Curtis defined these terms as illustrated below. Hypotonic is the solution that contains a low concentration of the solutes particles. Water will always move away from the hypotonic solution. In a typical cell, the hypotonic solution becomes the reference point or the control in the experiment just like in this experiment. This implies that the solution has lesser particles in comparison to that of intracellular space. The hypertonic solution on the other hand, refers to the solution that contains higher concentration of particles. It refers to the solution that has a higher concentration s compared to that of the intracellular space. Water will always move across the semi permeable membrane into the hypertonic solution in the cellular setting. This simply implies that the hypertonic solution has more concentration of the particles than the intracellular space. Finally, the isotonic solution contains the solutes with the same concentration as those of the other solution in comparison. When these two isotonic solutions are separated by a semi permeable membrane, then there will be a net flow of water across the membranes. Research Hypothesis It is right to pre-empt that the eggs cells will react to the different solutions used in the experiment. This will be in the three different ways discussed above as hypotonic, hypertonic or isotonic solutions. The solutions will have a relative concentration in comparison to that of the eggs cells sap. Materials and Methods Part I: Effect of the Solute Concentration Each group of students were given 2 chicken eggs from which the shell had  been dissolved away. The remaining membrane that was the shell membrane was considered to be differentially permeable. Each egg was assumed to have approximately the same concentration of solute in the membrane. Based on the rate of osmosis, the experiment attempted to determine what the concentration must have been. Each egg was then weighed separately to the nearest 0.1g and results recorded the weights in a Table at time â€Å"0.†Each egg was again placed into separate beakers containing solutions of either distilled water (0%), 10% sucrose, 20% sucrose, 30% sucrose, 40% sucrose and an unknown sucrose solution. At 15 minute intervals that is after 15, 30, 45, 60, and 75 minutes, the eggs were removed from the beakers. They were then carefully wiped off all excess water; and again each egg weighed separately. Record the weights or masses were then recorded and weight changes placed in the Tables. Plot the changes in weight of each of the eggs were then plotted against time in a graph as shown in the results section. Several questions were then answered based on the results obtained. Which solutions would you say were hypotonic to that of the eggs? Which of them were hypertonic? Isotonic if there were any? What would you expect to happen if an egg was put into a sixth beaker containing a 50% sucrose solution? Results Graph 1: Weight of Eggs versus Time Graph 2: Change in weight of eggs versus Time Graph 3: Last Minute versus Sucrose Concentration The osmotic pressure in the cells and tissues usually take the same function and illustration as those in vivo tests. This process is usually attained through the use of some controls in the experiment with known concentrations. The relativity of the solutions could then be detected using a very simple comparison exercise just like illustrated above. Both the vitro and the vivo tests take the same parameters in such experiments. This implies that the same results will be viewed if such experiments are carried out on mammalian cells like the shelled eggs cells used in this experiment. The fluid under test could be hypertonic, hypotonic or isotonic to the cell sap of the eggs cells used in this experiment in one way or the other. Just as illustrated in the introductory part of this paper, the hypotonic is the solution that contains a low concentration of the solutes particles. Water will always move away from the hypotonic solution. In a typical cell, the hypotonic solution becomes the reference point or the control in the experiment just like in this experiment. This implies that the solution has lesser particles in comparison to that of intracellular space. The hypertonic solution on the other hand, refers to the solution that contains higher concentration of particles. It refers to the solution that has a higher concentration s compared to that of the intracellular space. Water will always move across the semi permeable membrane into the hypertonic solution in the cellular setting. This simply implies that the hypertonic solution has more concentration of the particles than the intracellular space. Finally, the isotonic solution contains the solutes with the same concentration as those of the other solution in comparison. When these two isotonic solutions are separated by a semi permeable membrane, then there will be a net flow of water across the membranes. Discussion From the results in the section above, it is important to underscore the vitality of the biological membranes in the system of most organisms. It is clear that all biological membranes are indeed semi permeable to specific solutes. This implies that they are selectively permeable to water molecules and other important solutes in the functioning of such organisms. However, their great importance comes in when they are impermeable to several other solutes in the body that are neither important to the cells nor the tissues of the body. These solutes that are impermeable to the biological membranes include solutes like the charged molecules that include ions of Na, K, Ca and Cl. The isotonic solution used in this experiment contained 30 % sucrose and this acted as the control to the experiment. The concentrations below this concentration of the isotonic solution were considered as hypotonic and  these incl.ude the 10 and the 20 % sucrose solutions in the experiment. The other concentrations that were above this isotonic value gave the hypertonic solutions and this was the 40 % sucrose solution. Water molecules moved from the hypotonic solution to the inside of the eggs cells to make them swell and become larger and even a god number of these cells were burst due to the excess osmotic pressure built by the effect of the hypotonic solution. The eggs cells that were placed in the isotonic solution never gave any visible change in their form and structure as the concentrations for the solution and that of the cell sap were similar and equal. Those eggs cells that were placed in the hypertonic solution became flaccid. This was due to the movement of water molecules out of the cell into the hypertonic solution. Indeed, the solution in this case increased in volume as opposed to the hypotonic solution that reduced in volume. Conclusion In a nut shell, the experiment proved successful as the objectives of the practical were met to the letter. The hypothesis also proved valid and in line with the objectives. It implies that the different concentrations of sucrose used in the experiment gave varied effects to the cell sap of the eggs cells. The practical clearly demonstrated the effects and process of osmosis to the eggs cells. It also demonstrated the importance of different solutions to the functioning of the cells and tissues in the body of mammals. This was in response to the process of osmosis in the body.

Coso Presentation

COSO REPORT SUMMARY CHAPTER 1: DEFINITION Internal Control is a process, effected by an entity’s board of directors, management and other personnel, designed to provide reasonable assurance regarding the achievement of objectives in the following categories: – Effectiveness and efficiency of operations – Reliability or financial reporting – Compliance with applicable laws and regulations. Internal control is: – A process; Internal control is not one event or circumstance, but a series of actions that permeate an entity’s activities.These actions are pervasive, and are inherent in the way management runs the business. Business processes are managed through the basic management processes of planning, executing and monitoring. They should be â€Å"built in† rather than â€Å"built on†. â€Å"Building in† controls can directly affect an entity’s ability to reach its goals, and supports businesses’ quality initia tives. – People; Internal control is effected by a board of directors, management and other personnel in an entity.Internal control affects people’s actions. These realities affect, and are affected by, internal control. – Reasonable assurance; Internal control, not matter how well designed and operated, can provide only reasonable assurance to management and the board of directors regarding achievement of an entity’s objectives. The likelihood of achievement is affected by limitations inherent in all internal control systems, such as human judgment. Objectives; Every entity sets out on a mission, establishing objectives it wants to achieve and strategies for achieving them. Objectives fall into three categories: – Operations – relating to effective and efficient use of the entity’s resources – Financial reporting – relating to preparation of reliable published financial statements – Compliance – relating t o the entity’s compliance with applicable laws and regulations Components Internal control consists of five interrelated components: Control environment; The core of any business is people – their individual attributes, including integrity, ethical values and competence – and the environment in which they operate – Risk assessment; The entity must be aware of and deal with the risks it faces. It must set objectives, integrated with the sales, production, marketing, financial and other activities so that the organization is operating in concert. It also must establish mechanisms to identify, analyze and manage the related risks. Control activities; Control policies and procedures must be established and executed to help ensure that the actions identified by management as necessary to address risks to achievement of the entity’s objectives are effectively carried out. – Information and communication; Surrounding these activities are informatio n and communication systems. These enable the entity’s people to capture and exchange the information needed to conduct, manage and control its operations – Monitoring; The entire process must be monitored, and modifications made as necessary.In this way, the system can react dynamically, changing as conditions warrant. There is a direct relationship between objectives, which are what an entity strives to achieve, and components, which represent what is needed to achieve the objectives. Internal control is relevant to an entire enterprise, or to any of its unit or activities. Effectiveness Internal control can be judged effective in each of the three categories, respectively, if the board of directors and management have reasonable assurance that: – They understand the extent to which the entity’s operations objectives are being achieved. Published financial statements are being prepared reliably. – Applicable laws and regulations are being complie d with. While internal control is a process, its effectiveness is a state or condition of the process at a point in time. Although all five criteria must be satisfied, this does not mean that each component should function identically, or even at the same level, in different entities. The following chapters should be considered when determining whether an internal control system is effective.It should be recognized: – Because internal control is a part of the management process, the components are discussed in the context of what management does in running a business. – The principles discussed apply to all entities, regardless of size. – Each component chapter contains an â€Å"evaluation† section with factors one might consider in evaluating the component. CHAPTER 2: CONTROL ENVIRONMENT The control environment has a pervasive influence on the way business activities are structured, objectives established and risks assessed.It also influences control act ivities, information and communication systems, and monitoring activities. The control environment is influenced by the entity’s history and culture. It influences the control consciousness of its people => â€Å"tone at the top†. Integrity and ethical values An entity’s objectives and the way they are achieved are based on preferences, value judgments and management styles. Those preferences and value judgments, which are translated into standards of behavior, reflect management’s integrity and its commitment to ethical values.Because an entity’s good reputation is so valuable, the standard of behavior must go beyond mere compliance with law. Integrity and ethical values are essential elements of the control environment, affecting the design, administration and monitoring of other internal control components. Top management must balance the concerns of the enterprise, its employees, suppliers, customers, competitors and the public. Balancing these concerns can be a complex and frustrating effort because interests are often at odds.Managers of well-run enterprises have increasingly accepted the view that â€Å"ethics pays†- that ethical behavior is good business. Ethical behavior and management integrity are a product of the â€Å"corporate culture†. Corporate culture includes ethical and behavioral standards, how they are communicated and how they are reinforced in practice. Official policies specify what management wants to happen. Corporate culture determines what actually happens, and which rules are obeyed, bent or ignored. Top management – starting with the CEO – plays a key role in determining the corporate culture.Individuals may engage in dishonest, illegal or unethical acts simply because their organizations give them strong incentives or temptations to do so. Emphasis on â€Å"result,† particularly in the short term, fosters an environment in which the price of failure becomes ver y high. Incentives cited for engaging in fraudulent or questionable financial reporting practices and, by extension, other forms of unethical behavior are: – Pressure to meet unrealistic performance targets, particularly for short-term results – High performance-dependent rewards, and – Upper and lower cutoffs on bonus plansThe study also cites â€Å"temptations† for employees to engage in improper acts: – Nonexistent or ineffective controls, such as poor segregation of duties in sensitive areas, that offer temptations to steal or to conceal poor performance – High decentralization that leaves top management unaware of actions taken at lower organizational levels and thereby reduces the chances of getting caught. – A weak internal audit function that does not have the ability to detect and report improper behavior – An ineffective board of directors that does not provide objective oversight of top management. Penalties for impr oper behavior that are insignificant or unpublished and thus lose their value as deterrents. In addition to the incentives and temptations just discussed, the aforementioned study found a third cause of fraudulent and questionable financial reporting practices: ignorance. The study found that â€Å"in many of the companies that have suffered instances of deceptive financial reporting, the people involved either did not know what they were doing was wrong or erroneously believed they were acting in the organization’s best interest†.This ignorance is often caused by poor moral background or guidance, rather than by an intent to deceive. The most effective way of transmitting a message of ethical behavior throughout the organization is by example. A study some years ago noted that a formal code of conduct is â€Å"a widely used method of communicating to employees the company’s expectations about duty and integrity†. Of particular importance are resulting pe nalties to employees who violate such codes, mechanisms that exist to encourage employee reporting of suspected violations, and disciplinary actions against employees who fail to report violations.Commitment to competence Competence should reflect the knowledge and skills needed to accomplish tasks that define the individual’s job. Management needs to specify the competence levels for particular jobs and to translate those levels into requisite knowledge and skills. There often can be trade-off between the extent of supervision and the requisite competence level of individual. Board of directors or Audit Committee The control environment and â€Å"tone at the top† are influenced significantly by the entity’s board of directors and audit committee.Factors include the board or audit committee’s independence from management, experience and stature of its members, extent of its involvement and scrutiny of activities, and the appropriateness of its action. Ano ther factor is the degree to which difficult questions are raised and pursued with management regarding plans or performance. Interaction of the board or audit committee with internal and external auditors is another factor affecting the control environment.Because of its importance, an active and involved board of directors, board of trustees or comparable body – possessing an appropriate degree of management, technical and other expertise coupled with the necessary stature and mind set so that it can adequately perform the necessary governance, guidance and oversight responsibilities – is critical to effective internal control. It is necessary that the board contain outside directors. Management’s philosophy and operating style Management’s philosophy and operating style affect the way the enterprise is managed, including the kinds of business risks accepted.An informally managed company may control operations largely by face-to-face contract with key m anagers. A more formally managed one may rely more on written policies, performance indicators and exception reports. Organizational structure An entity’s organizational structure provides the framework within which its activities for achieving entity-wide objectives are planned, executed, controlled and monitored. Activities may relate to what is sometimes referred to as the value chain: inbound (receiving) activities, operations or production, outbound (shipping) marketing, sales and service.There may be support functions, relating to administration, human resources or technology development. Significant aspects of establishing a relevant organizational structure include defining key areas of authority and responsibility and establishing appropriate lines of reporting. An entity develops an organizational structures suited to its needs: centralized, decentralized, direct reporting lines, matrix, product line, geographical location, distribution or marketing network, governm ental, or not-for-profit structure. The appropriateness of an entity’s organizational structure depends, in part, on its size and the nature of its activities.A highly structured organization, including formal reporting lines and responsibilities, may be appropriate for a large entity with numerous operating divisions, including foreign operations. However, it could impede the necessary flow of information in a small entity. Whatever the structure, an entity’s activities will be organized to carry out the strategies designed to achieve particular objectives. Assignment of authority and responsibility This includes assignment of authority and responsibility for operating activities, and establishment of reporting relationships and authorization protocols.There is a growing tendency to push authority downward to bring decision-making closer to front-line personnel. Alignment of authority and accountability often is designed to encourage individual initiatives, within lim its. Delegation of authority, or â€Å"empowerment,† means surrendering central control of certain business decisions to lower echelons – to the individuals who are closest to everyday business transactions. A critical challenge is to delegate only to the extent required to achieve objectives. Another challenge is ensuring that all personnel understand the entity’s objectives.Increased delegation sometimes is accompanied by or the result of streamlining or â€Å"flattening† of an entity’s organizational structure, and is intentional. Purposeful structural change to encourage creativity, initiative and the capability to react quickly can enhance competitiveness and customer satisfaction. The control environment is greatly influenced by the extent to which individuals recognize that they will be held accountable. This holds true all the way to the chief executive, who has ultimate responsibility for all activities within an entity, including the inte rnal control system. Human resource policies and practicesHuman resource practices send messages to employees regarding expected levels of integrity, ethical behavior and competence. Such practices relate to hiring, orientation, training, evaluating, counseling, promoting, compensating and remedial actions. It is essential that personnel be equipped for new challenges as issues that enterprises face change and become more complex – driven in part by rapidly changing technologies and increasing competition. The impact of an ineffective control environment could be far reaching, possibly resulting in a financial loss, a tarnished public image or a business failure.While every entity should embrace the concepts, small and mid-size entities may implement the control environment factors differently than larger entities. Their own integrity and behavior, however, is critical and must be consistent with the oral message because of the first-hand contact that employees have with them . Usually the fewer the levels of management, the faster the message is carried through an organization of what conduct is acceptable. Evaluation should be based on these 7 aspects CHAPTER 7: LIMITATIONS OF INTERNAL CONTROLIn considering limitations of internal control, two distinct concepts must be recognized: – First, internal control – even effective internal control – operates at different levels with respect to different objectives. But it cannot provide even reasonable assurance that the objectives themselves will be achieved. – Second, internal control cannot provide absolute assurance with respect to any of the three objectives categories. The first set of limitations acknowledges that certain events or conditions are simply outside management’s control. The second has to do with the reality that no system will always do what it’s intended to do.The effectiveness of controls will be limited by the realities of human frailty in the ma king of business decisions. Some decisions based on human judgment may later, with the clairvoyance of hindsight, be found to produce less than desirable results, and may need to be changed. – Breakdowns; Personnel may misunderstand instructions. They may make judgment mistakes. Or they may commit errors due to carelessness, distraction, or fatigue. – Management override; An internal control system can only be as effective as the people who are responsible for its functioning.Even in effectively controlled entities – those with generally high levels of integrity and control consciousness – a manager might be able to override internal control. Management override means here, overruling prescribed policies or procedures for illegitimate purposes with the intent of personal gain or an enhanced presentation of an entity’s financial condition or compliance status. Management override should not be confused with management intervention. – Collusio n; The collusive activities of two or more individuals can result in control failures.Individuals acting collectively to perpetrate and conceal an action from detection often can alter financial data or other management information in a manner that cannot be identified by the control system. – Costs versus benefits; Resources always have constraints, and entities must consider the relative costs and benefits of establishing controls. Cost and benefit measurements for implementing controls are done with different levels of precision. The complexity of cost-benefit determinations is compounded by the interrelationship of controls with business operations.Cost-benefit determinations also vary considerably depending on the nature of the business. The challenge is to find the right balance. CHAPTER 8: ROLES AND RESPONSIBILITIES Internal and external parties contribute, each in his or her own way, to effective internal control. Parties external to the entity may also help the entit y achieve its objectives through actions that provide information useful to the entity in effecting control, or through actions that independently contribute to entity’s objective. Internal parties: Management Management is directly responsible for all activities of an entity, including its internal control system.Naturally, management at different levels in an entity will have different internal control responsibilities. More than any other, the chief executive sets the â€Å"tone at the top† that affects control environment factors and other components of internal control. The CEO has influence over the selection of the board of directors. The CEO generally fulfills this duty by: – Providing leadership and direction to senior managers. – Meeting periodically with senior managers responsible for the major functional areas – sales, marketing, production, procurement, finance, human resources, etc. to review their responsibilities, including how the y are controlling the business. Senior managers in charge or organizational units have responsibility for internal control related to their units’ objectives. They provide direction, more hands-on role. Often these managers are directly responsible for determining internal control procedures that address unit objectives. Financial offices. Of particular significance to monitoring are finance and controllership officers and their staffs, whose activities cut across, up and down the operating and other units of an enterprise. As a member of top management, the chief accounting officer helps set the tone of the organization’s ethical conduct; is responsible for the financial statements; generally has primary responsibility for designing, implementing and monitoring the company’s financial reporting system; and is in a unique position regarding identification of unusual situations caused by fraudulent financial reporting†. Internal parties: Board of directors Management is accountable to the board of directors or trustees, which provides governance, guidance and oversight. By selecting management, the oard ahs a major role in defining what it expects in integrity and ethical values, and can confirm its expectations through its oversight activities. Effective board members are objective, capable and inquisitive. Audit committee. Management is responsible for the reliability of the financial statements, but an effective audit committee plays an important role. The audit committee is in a unique position: it has the authority to question top management regarding how it is carrying out its financial reporting responsibilities, and it also has authority to ensure that corrective action is taken.The Treadway commission emphasized the value of audit committees and recommended that all public companies be required to established audit committees composed solely of independent directors. Other committees are: compensation committee, finance commi ttee, nominating committee, employee benefits committee and other committees. Internal parties: Internal auditors Internal auditors directly examine internal controls and recommend improvements. Internal auditors should: Review the reliability and integrity of financial and operating information and the means used to identify, measure, classify, and report such information – Review the systems established to ensure compliance with those policies, plans, procedures, laws and regulations which could have a significant impact on operations and reports and should determine whether it is in compliance – Review the means of safeguarding assets and verify the existence of these assets – Appraise the economy and efficiency with which resources are employed – Review operations to ascertain whether results are consistent with established objectives and goals and whether operations are being carried out as planned. Organizational position and authority involve such matters as reporting line to an individual who has sufficient authority to ensure appropriate audit coverage, consideration and response; selection and dismissal of the director of internal auditing only with board of directors’ or audit committee’s concurrence; internal auditor access to the board or audit committee; and internal auditor authority to follow up on findings and recommendations.Internal auditors are objective, avoid potential and actual conflicts of interest and bias, rotate and not assume operating responsibilities. Internal Parties: Other entity personal – First, virtually all employees play some role in effecting control – Second, all personnel should be responsible for communicating to a higher organizational level problems in operations, noncompliance with the code of conduct, or other violations of policy or illegal actions External Parties: External auditors They bring to management and the board a unique independent and objective vi ew, and contribute to an entity’s achievement of its financial reporting objectives, as well as other objectives.The auditor expresses an opinion on the fairness of the financial statements in conformity with generally accepted accounting principles, and thus contributes to the entity’s financial reporting objectives. Auditors conducting a financial statement audit do provide information useful to management in carrying out their internal control-related responsibilities: – by communicating audit findings, analytical information and recommendations for use in taking actions necessary to achieve established objectives – by communicating findings regarding deficiencies in internal control that come to their attention, and recommendations for improvement External Parties: Legislators and regulatorsLegislators and regulators affect the internal control systems of many entities, either through requirements to establish internal controls or through examinations of particular entities. They affect entities’ internal control system in two ways. They establish rules that provide the impetus for management to ensure that internal control systems meet the minimum statutory and regulatory requirements. And, pursuant to examination of a particular entity, they provide information used by the entity’s internal control system, and provide recommendations and sometimes directives to management regarding needed internal control system improvements. External Parties: parties interacting with the entity (customer, supplier, vendor) These parties provide information that can be extremely important for objectives.External Parties: Financial Analysts, Bond Rating Agencies and the News Media CHAPTER 3: RISK ASSESSMENT Objective setting is a precondition to risk assessment. There must first be objectives before management can identify risks to their achievement and take necessary actions to manage the risks. Objective setting, then, is a key part of the management process. At the entity level, objectives often are represented by the entity’s mission and value statements. Along with assessments of the entity’s strengths and weaknesses, and of opportunities and threats, they lead to an overall strategy. These subobjectives or activity-level objectives, include establishing goals and may deal with product line, market, financing and profit objectives.By setting objectives at the entity and activity levels, an entity can identify critical success factors. These are key things that must go right if goals are to be attained. Critical success factors exist for the entity, a business unit, a function, a department or an individual. Categories of objectives: Operations objectives: Operations objectives relate to achievement of an entity’s basic mission – the fundamental reason for its existence. Operations objectives need to reflect the particular business, industry and economic environments in which the entity functions. Management must see to it that objectives are based on the reality and demands of the marketplace and are expressed in terms that allow meaningful performance measurements.A clear set of operations objectives and strategies, linked to subobjectives, is fundamental to success. They provide a focal point toward which the entity will commit substantial resources. Financial Reporting objectives: Financial reporting objectives address the preparation of reliable published financial statements, including interim and condensed financial statements and selected financial data derived from such statements. Entities need to achieve financial reporting objectives to meet external obligations. Investors, creditors, customers and suppliers often rely on financial statements to assess management’s performance and to compare it with peers and alternative investments. Fair representation is efined as: – The accounting principles selected and applied have general acceptance – The accounting principles are appropriate in the circumstances – The financial statements are informative of matters that may affect their use, understanding and interpretation – The information presented is classified and summarized in a reasonable manner, that is, it is neither too detailed nor too condensed – The financial statements reflect the underlying transactions and events in a manner that presents the financial position, results of operations and cash flows stated within a range of acceptable limits, that is, limits that are reasonable and practical to attain in financial statements Compliance objectives: Entities must conduct their activities, and often take specific actions, in accordance with applicable laws and regulations.These laws and regulations establish minimum standards of behavior, which the entity integrates into its compliance objectives. An entity’s compliance record with laws and regulations can significantly – either positively or negatively – affect its reputation in the community. An objective in one category may overlap or support an objective in another. Another set of objectives relates to â€Å"safeguarding of resources†. Although these are primarily operations objectives, certain aspects of safeguarding can fall under the other categories. The category in which an objective falls can sometimes depend on circumstances. Objectives should be complementary and linked.Not only must entity-wide objectives be consistent with the entity’s capabilities and prospects, they also must be consistent with the objectives of its business units and functions. Entity-wide objectives must be broken down into subobjectives, consistent with the overall strategy, and linked to activities throughout the organization. Where, however, objectives depart form an entity’s past practices, management must address the linkages or run increased risks. Activity objectives also need to be clear, that is, readily understood by the people taking the actions toward their achievement. They must also be measurable. It is useful to relate an activity’s overall set of objectives to resources available.A way to relieve further resource constraint is to question activity objectives that do not support entity-wide objectives and the entity’s business processes. Another means of balancing objectives and resources is to identify activity objectives that are very important or critical to achieving entity-wide objectives. Objectives provide the measurable targets which the entity moves in conducting its activities. The goal of internal control in this area focuses primarily on: developing consistency of objectives and goals throughout the organization, identifying key success factors and timely reporting to management of performance and expectations.Although success cannot be ensured, management should have reasonable assurance of being alerted when objec tives are in danger of not being achieved. Risks The process of identifying and analyzing risk is an ongoing iterative process and is a critical component of an effective internal control system. Management must focus carefully on risks at all levels of the entity and take the necessary actions to manage them. Risk identification An entity’s performance can be at risk due to internal or external factors. Regardless of whether an objective is stated or implied, an entity’s risk-assessment process should consider risks that may occur. Risk identification is an iterative process and often is integrated with the planning process.Entity level: risks at the entity-wide level can arise from external or internal factors. External factors examples: – Technological developments can affect the nature and timing of research and development, or lead to changes in procurement – Changing customer needs or expectations can affect product development, production process, customer service, pricing or warranties. – Competition can alter marketing or service activities – New legislation and regulation can force changes in operating policies and strategies – Natural catastrophes can lead to changes in operations or information systems and highlight the need for contingency planning. Economic changes can have an impact on decisions related to financing, capital expenditures and expansion. Internal factors examples: – A disruption in information systems processing can adversely affect the entity’s operations. – The quality of personnel hired and methods of training and motivation can influence the level of control consciousness within the entity. – A change in management responsibilities can affect the way certain controls are effected. – The nature of the entity’s activities, and employee accessibility to assets, can contribute to misappropriation of resources. – An unassertive or inef fective board or audit committee can provide opportunities for indiscretions.Risk may be identified in connection with short- and long-range forecasting and strategic planning. What is important is that management considers carefully the factors that may contribute to or increase risk. Some factors to consider include: past experiences of failure to meet objectives; quality of personnel; changes affecting the entity such as competition, regulations, personnel, and the like; existence of geographically distributed, particularly foreign, activities; significance of an activity to the entity; and the complexity of an activity. Once the major contributing factors have been identified, management can then consider their significance and, where possible, link risk factors to business activities. Activity-level.In addition to identifying risk at the entity level, risks should be identified at the activity level. Dealing with risk at this level helps focus risk assessment on major business units or functions such as sales, production, marketing, technology development, and research and development. Potential causes of failing to achieve an objective range from the obvious to the obscure, and form the significant to the insignificant in potential effect. Risk analysis After the entity has identified entity-wide and activity risks, a risk analysis needs to be performed. The process – which may be more or less formal – usually includes: – Estimating the significance of the risk Assessing the likelihood (or frequency) of the risk occurring – Considering how the risk should be managed – that is, an assessment of what actions need to be taken. There are numerous methods for estimating the cost of a loss from an identified risk. Management should be aware of them and apply them as appropriate. However, many risks are indeterminate in size. At best they can be described as large, moderate or small. Once the significance and likelihood of ris k have been assessed, management needs to consider how the risk should be managed. This involves judgment based on assumptions about the risk, and reasonable analysis of costs associated with reducing the level of risk.Sometimes actions can virtually eliminate the risk, or offset its effect if it does occur. Note that there is a distinction between risk assessment, which is part of internal control and the resulting plans, programs or other actions deemed necessary by management to address the risks. A key part of the larger management process, but not an element of the internal control system. Along with actions for managing risk is the establishment of procedures to enable management to track the implementation and effectiveness of the action. Before installing additional procedures, management should consider carefully whether existing ones may be suitable for addressing identified risks.Management also should recognize that it is likely some level of residual risk will always ex ist, not only because resources are always limited, but also because o other limitations inherent in every internal control system. It is often critical to the entity’s success. Managing change Every entity needs to have a process, formal or informal, to identify conditions that can significantly affect its ability to achieve its objectives. A key part of that process involves information systems that capture, process and report information about events, activities and conditions that indicate changes to which the entity needs to react. With the requisite information systems in place, the process to identify and respond to changing conditions can be established. Circumstances demanding special attention: Changed operating environment – A changed regulatory or economic environment can result in increased competitive pressures and significantly different risks – New personnel – high turnover of personnel, in the absence of effective training and supervision , can result in breakdowns – New or revamped information systems – Normally effective controls can break down when new systems are developed, particularly when done under unusually tight time constraints – Rapid growth – When operations expand significantly and quickly, existing systems may be strained to the point where controls can break down – New technology – when new technology is being incorporated, a high likelihood exists that internal controls need to be modified. – New lines, products, activities – unfamiliar situations, controls may be inadequate – Corporate restructurings – may be accompanied by staff reductions and inadequate supervision and segregation of duties. – Foreign operations – the expansion or acquisition of foreign operations carries new and often unique risks that management should address. To the extent practicable, mechanisms should be forward-looking, so an entity can anti cipate and plan for significant changes.Early warning systems should be in place to identify data signaling new risks. However, as with other control mechanisms, the related costs cannot be ignored. No entity has sufficient resources to obtain and analyze completely the information about all the myriad evolving conditions that can affect it. It is often difficult to know whether seemingly significant information is the beginning of an important trend, ore merely an aberration. The risk-assessment process is likely to be less formal and less structured in smaller entities than in larger ones, but the basic concepts of this internal control component should be present in every entity, regardless of size.Risk assessment in smaller entity can be particularly effective because the in-depth involvement of the CEO and other key managers often means that risks are assessed by people with both access to the appropriate information and a good understanding of its implications. Action plans ca n be devised and implemented quickly with limited number of people. They can then follow up as needed to ensure that the necessary actions are being taken. CHAPTER 4: CONTROL ACTIVITIES Control activities are policies and procedures, which are the actions of people to implement the policies, to help ensure that management directives identified as necessary to address risks are carried out.Many different descriptions of types of control activities have been put forth, including preventive controls, detective controls, manual controls, computer controls and management controls. Following are certain control activities commonly performed by personnel at various levels in organizations. – Top level reviews – Reviews are made of actual performance versus budgets, forecasts, prior periods and competitors – Direct functional or activity management – managers running functions or activities review performance reports – Information processing – A var iety of controls are performed to check accuracy, completeness and authorization of transactions. Data entered are subject to edit checks or matching to approved control files. Physical controls – Equipment, inventories, securities, cash and other assets are secured, physically, and periodically counted and compared with amounts shown on control records. – Performance indicators – Relating different sets of data – operating or financial – to one another, together with analyses of the relationships and investigate and corrective actions, serve as control activities. – Segregation of Duties – duties are divided, or segregated, among different people to reduce the risk of error or inappropriate actions. Control activities usually involve two elements: a policy establishing what should be done and, serving as a basis for the second element, procedures to effect the policy. But regardless of whether a policy is written, it must be implemen ted thoughtfully, conscientiously and consistently.A procedure will not be useful if performed mechanically without a sharp continuing focus on conditions to which the policy is directed. It is essential that conditions identified as a result of the procedures be investigated and appropriate corrective actions taken. Along with assessing risks, management should identify and put into effect actions needed to address the risks. The actions identified as addressing a risk also serve to focus attention on control activities to be put in place to help ensure that the actions are carried out properly and in a timely manner. Control activities are very much a part of the process by which an enterprise strives to achieve its business objectives. Control activities serve as mechanisms for managing the achievement of that objective.Such activities might include tracking the progress of the development of the customer buying histories against established timetables, and steps to ensure accura cy fo the reported data. Controls over information systems Two broad groupings of information systems control activities can be used. The first is general controls – which apply to many if not all application systems and help ensure their continued, proper operation. The second category is application controls, which include computerized steps within the application software and related manual procedures to control the processing of various types of transactions. Together, these controls serve to ensure completeness, accuracy and validity of the financial and other information in the system.General controls commonly include controls over data center operations, system software acquisition and maintenance, access security, and application system development and maintenance. These controls apply to all systems – mainframe, minicomputer and end-user computing environments. Application controls are designed to control application processing, helping to ensure the completen ess and accuracy of transaction processing, authorization and validity. Particular attention should be paid to an application’s interfaces, since they are often linked to other systems that in turn need control to ensure that all inputs are received for processing and all outputs are distributed appropriately.Controls over system development requiring thorough reviews and testing of applications ensure that the logic of the report program is sound, and that it has been tested to ascertain that all exceptions are reported. To provide control after implementation of the application, controls over access and maintenance ensure that applications are not accessed or changed without authorization and that required, authorized changes are made. The data center operations controls and systems software controls ensure that the right files are used and updated appropriately. The relationship between the application controls and the general controls is such that general controls are nee ded to support the functioning of application controls, and both are needed to ensure complete and accurate information processing.The concepts underlying control activities in smaller organizations are not likely to differ significantly form those in larger entities, but the formality with which they operate will vary. Further, smaller entities may find that certain types of control activities are not always relevant because of highly effective controls applied by management of the small or mid-size entity. An appropriate segregation of duties often appears to present difficulties in smaller organizations, at least on the surface. Even companies that have only a few employees, however, can usually parcel out their responsibilities to achieve the necessary checks and balances.Controls over information systems, particularly general computer controls and more specifically access security controls, may present problems to small and mid-size entities. This is because of the informal way in which control activities are often implemented. CHAPTER 5: INFORMATION AND COMMUNICATION Every enterprise must capture pertinent information – financial and non-financial, relating to external as well as internal events and activities. The information must be identified by management as relevant to managing the business. It must be delivered to people who need it in a form and timeframe that enables them to carry out their control and other responsibilities.Information is needed at all levels of an organization to run the business, and move toward achievement of the entity’s objectives in all categories – operations, financial reporting and compliance. Information is identified, captured, processed and reported by information systems. The term â€Å"information systems† frequently is used in the context of processing internally generated data relating to transactions, such as purchases and sales, and internal operating activities, such as production p rocesses. Information systems sometimes operate in a monitoring mode, routinely capturing specific data. In other cases, special actions are taken to obtain needed information.Keeping information consistent with needs becomes particularly important when an entity operates in the face of fundamental industry changes, highly innovative and quick-moving competitors or significant customer demand shifts. Systems support strategic initiatives. The strategic use of information systems has meant success to many organizations. Using technology to help respond to a better understood marketplace is a growing trend, as systems are used to support proactive rater than reactive business strategies. Integration with operations. The strategic use of systems demonstrates the shift that has occurred from purely financial systems to systems integrated into an entity’s operations.These systems help control the business process, tracking and recording transactions on a real-time basis, often inc luding many of the organization’s operations in an integrated, complex systems environment. The effect of integrated operations systems is dramatic, as can been seen in the just-in-time (JIT) inventory system. The systems themselves order and schedule arrival of new materials automatically, frequently through the use of EDI (electronic data interchange). Many of the newer production systems are highly integrated with other organizational systems and may include the organization’s financial systems. Acquisition of technology is an important aspect of corporate strategy, and choices regarding technology can be critical factors in achieving growth objectives. Decisions about its selection and implementation depend on many factors.These include organizational goals, market-place needs, competitive requirements and, importantly, how the new systems will help effect control, and in turn be subject to the necessary controls, to promote achievement of the entity’s objec tives. It is critical that reports contain enough appropriate data to support effective control. The quality of information includes ascertaining whether: – Content is appropriate – Is the needed information there? – Information is timely – Is it there when required? – Information is current – Is it the latest available? – Information is accurate – Are the data correct? – Information is accessible – Can it be obtained easily by appropriate parties?All of these questions must be addressed by the system design. If not, it is not probable that the system will not provide the information required. Communication is inherent in information systems. Internal In addition to receiving relevant data for managing their activities, all personnel, particularly those with important operating or financial management responsibilities, need to receive a clear message from top management that internal control responsibilities must be taken seriously. Both the clarity of the message and the effectiveness with which it is communicated are important. In addition, specific duties must be made clear. Without this understanding, problems are likely to arise.In performing their duties, personnel should know that whenever the unexpected occurs, attention is to be given not only to the event itself, but also to its cause. In this way, a potential weakness in the system can be identified and action taken to prevent recurrence. People also need to know how their activities relate to the work of others. People need to know what behavior is expected, or acceptable, and what is unacceptable. Personnel also need to have a means of communicating significant information upstream in an organization. Front-line employees who deal with critical operating issues every day are often in the best position to recognize problems as they arise.For such information to be reported upstream, there must be both open channels of communicati on and clear-cut willingness to listen. People must believe their superiors truly want to know about problems and will deal with them effectively. In most cases, the normal reporting lines in an organization are the appropriate communications channel. In some circumstances, however, separate lines of communication are needed to serve as a fail-safe mechanism in case normal channels are inoperative. Communication between management and the board of directors and committees are critical. Management must keep the board up to date on performance, developments, risks, major initiatives, and any other relevant events or occurrences.The better the communications to the board, the more effective it can be in carrying out its oversight responsibilities, and acting as a sounding board on critical issues and providing advice and counsel. By the same token, the board should communicate to management what information it needs, and provide direction and feedback. External There needs to be approp riate communication not only within the entity, but outside. With open communications channels, customers and suppliers can provide highly significant input on the design or quality of products or services, enabling a company to address evolving customer demands or preferences. Communications from external parties often provide important information on the functioning of the internal control system.Communications to shareholders, regulators, financial analysts and other external parties should provide information relevant to their needs, so they can readily understand the circumstances and risks the entity faces. Communication takes such forms as policy manuals, memoranda, bulletin board notices and videotaped messages, or transmitted orally. Another powerful communications medium is the action taken by management in dealing with subordinates. Managers should remind themselves, â€Å"actions speak louder than words†. Information systems in smaller organizations are likely to be less formal than in large organizations, but their role is just as significant. CHAPTER 6: MONITORINGCircumstances for which the internal control system originally was designed also may change, causing it to be less able to warn of the risks brought by new conditions. Accordingly, management needs to determine whether the internal control system continues to operate effectively. Monitoring can be done in two ways: through ongoing activities or separate evaluations. Internal control systems usually will be structured to monitor themselves on an ongoing basis to some degree. The greater the degree and effectiveness of ongoing monitoring, the less need for separate evaluations. Usually, some combinations of ongoing monitoring and separate evaluations will ensure that the internal control system maintains its effectiveness over time. It should e recognized that ongoing monitoring procedures are built in to the normal, recurring operating activities of an entity. Because they are perf ormed on a real-time basis, reacting dynamically to changing conditions, and are ingrained in the entity, they are more effective than procedures performed in connection with separate evaluations. Since separate evaluations take place after the fact, problems will often be identified more quickly by the ongoing monitoring routines. An entity that perceives a need for frequent separate evaluations should focus on ways to enhance its ongoing monitoring activities and, thereby; to emphasize â€Å"building in† versus â€Å"adding on† controls. Ongoing monitoring activitiesExamples of ongoing monitoring activities include the following: – Extent to which personnel, in carrying out their regular activities, obtain evidence as to whether the system of internal control continues to function. – Extent to which communications from external parties corroborate internally generated information, or indicate problems. – Periodic comparison of amounts recorded by the accounting system with physical assets. – Responsiveness to internal and external auditor recommendations on means to strengthen internal controls. – Extent to which training seminars, planning sessions and other meetings provide feedback to management on whether controls operate effectively. Whether personnel are asked periodically to state whether they understand and comply with the entity’s code of conduct and regularly perform critical control activities. – Effectiveness of internal audit activities. Separate evaluations While ongoing monitoring procedures usually provide important feedback on the effectiveness of other control components, it may be useful to take a fresh look from time to time, focusing directly on the system’s effectiveness. Scope and frequency. Evaluations of internal control vary in scope and frequency, depending on the significance of risks being controlled and importance of the controls in reducing the risks.Evaluati on of an entire internal control system – which will generally be needed less frequently than the assessment of specific controls – may be prompted by a number of reasons: major strategy or management change, major acquisitions or dispositions, or significant changes in operations or methods of processing financial information. The evaluation scope will also depend on which of the three objectives categories – operations, financial reporting and compliance – are to be addressed. Who evaluates. Often evaluations take the form of self-assessments, where persons responsible for a particular unit or function will determine the effectiveness of controls for their activities. Then, all results would be subject to the chief executive’s review.Internal auditors normally perform internal control evaluations as part of their regular duties, or upon special requests of the board of directors, senior management or subsidiary or divisional executives. Similarly , management may use the work of external auditors in considering the effectiveness of internal control. The evaluation process. The evaluator must understand each of the entity activities and each of the components of the internal control system being addressed. It may be useful to focus first on how the system purportedly functions, sometimes referred to as the systems design. The evaluator must determine how the system actually works. The evaluator must analyze the internal control system design and the results of tests performed.The analysis should be conducted against the backdrop of the established criteria, with the ultimate goal of determining whether the system provides reasonable assurance with respect to the stated objectives. Methodology can be qualitative/quantitative (benchmarking) Documentation. The extent of documentation of an entity’s internal control system varies with the entity’s size, complexity and similar factors. Many controls are informal and undocumented, yet are regularly performed and highly effective. An appropriate level of documentation makes the evaluation more efficient, it facilitates employees’ understanding of how the system works and their particular roles, and easier to modify.Reporting deficiencies Deficiencies in an entity’s internal control system surface from many sources, including the entity’s ongoing monitoring procedures, separate evaluations of the internal control system and external parties. A deficiency may represent a perceived, potential or real shortcoming, or an opportunity to strengthen the internal control system to provide a greater likelihood that the entity’s objectives will be achieved. One of the best sources of information on control deficiencies is the internal system itself. A number of external parties frequently provide important information on the functioning of an entity’s internal control system.In considering what needs to be communicated, it is necessary to look at the implication of findings. A seemingly simple problem with an apparent solution might have far-reaching control implications. Findings of internal control deficiencies usually should be reported to the individual responsible for the function or activity involved, who is in the position to take corrective action, but also to at the lest one level of management above the directly responsible person. This process enables that individual to provide needed support or oversight for taking corrective action, and to communicate with others in the organization whose activities may be affected.Where findings cut across organizational boundaries, the reporting should cross over as well and be directed to a sufficiently high level to ensure appropriate action. Providing needed information on internal control deficiencies to the right party is critical to the continued effectiveness of an internal control system. Protocols can be established to identify what informatio n is needed at a particular level for decision-making. Reportable conditions ( significant deficiencies in the design or operation of the internal control structure, which could adversely affect the organization’s ability to record, process, summarize and report financial data consistent with the assertions of management in the financial statements. SME ( more ongoing monitoring, less like to do separate (few people, notice quicker)

Guilded Age essays

Guilded Age essays This was a common thought process of the Guilded Age. Andrew Carnegie was There are many different views on whether or not business should be regulated during the Guilded Age. The rich who controlled the government at the time were against any kind of regulation of business. They wanted one hundred percent capitalism. The workers on the other hand wanted the business to be regulated, and the legalization of unions. I am going to support the ideas of the business owners. There were many wealthy business owners who believed in the gospel of wealth. This was the idea that God made the rich rich and the poor poor a major follower of this thought. This is shown in his speech Wealth. In this speech he says that rich and poor are necessary for the race. It also describes how it is survival of the fittest. The ideas of the gospel of wealth are a scary concept today. If you look at it with a revisionist viewpoint the idea that rich are rich because God said so leaves us open for so much discrimination. The thoughts of this time were not able to see this, and the business owners wanted to keep the power in their hands. Document E also has a touch gospel of wealth in it. It talks about a preacher telling his parishioners to go out and make money. It says that it is the persons job to go out and become rich. It also talks about how the rich are the most honest of all people. That because they have money you are the least likely to lie because you dont have too. Many people of the era said that the money would be there even if the rich werent there, but Document G contradicts this idea. It says that the money is there because of the rich, along with the money that other people have. So the thoughts of the era by the rich tells point towards no regulation. The gospel of wealth was a main reason that the owners were able to keep the regulations from coming about. Without the big bus...

Advantages Of Social Media

Advantages Of Social Media Connections. You are friends with people who have other friends, and so on. By using a social networking site, you can do what you can and get connected with these people to form a web of connections that can give you leverage if you play your cards right. Breadth of Knowledge -connectedness that students can experience through social media use. It is now easier than ever to know (or find out) something about almost anything in the world through connected media. Additionally, students can be connected to a broader base of opinions and world views through instantaneous global connections. Technological Literacy – All social media relies on advanced information and communication technologies that seamlessly work to build and support technological literacy.. Worldwide Connectivity, No matter if you are searching for that former college roommate, your first grade teacher, or an international friend, there is no easier or faster way to make a connection than via the social network . Although Facebook, Twitter, LinkedIn and MySpace are probably the most well known social networking communities, there are new websites popping up regularly that are dedicated to allowing people to connect and to interact via the Internet. These connections can help one with a variety of things such as: Finding romance, Seeking a new job, Locating assistance, Getting and giving product and service referrals, Receiving support from like-minded individuals, Making or receiving advice on career or personal issues. In many ways, social communities are the virtual equivalent of meeting at the general store or at church socials to exchange news and get updated on friends and families.. Commonality of Interest, When you opt to participate in a social network community, you can pick and choose those individuals whose likes and dislikes are similar to yours and build your network around those commonalities.You can meet with your friends anytime you have an Internet connection and whenever you find them online. Real-Time Information Sharing, Many social networking sites incorporate an instant messaging feature, which means you can exchange information in real-time via a chat. This is a great feature for teachers to use to facilitate classroom discussions.In addition, the Internet is the ultimate online textbook. Students no longer need to take out six library books at a time. Much of what they need to know they can find online. Free Advertising, Whether you are non-profit organization who needs to get the word out about your upcoming fundraiser or a business owner marketing a new product or service, there’s no better way to get your message in front of millions of people 24/7. The best part is it that you can spread the word through social networking profiles for free. Increased News Cycle Speed, Social networking has revolutionized the speed of the news cycle. Many news organizations now partner with social networking sites like Twitter, YouTube, and Facebook in order to both collect and share information. One can get a sense of what is going on in the world just by watching trending topics from many of these sites. This has led to the development of a near instantaneous news cycle as millions of social networking updates rapidly spread news and information.

Reaction paper combining two related internet stories Essay

Reaction paper combining two related internet stories - Essay Example Apparently, some truths just come out after mankind has suffered from so much pain. While the crimes of the Holocaust did create emotional scars on the survivors and taught the world an important lesson about racism, it is also important to investigate what triggered such horrible event. The Jewish Declaration of War on Germany in 1933 is a crucial event in history because we all know that wars don’t just happen overnight. Before war happens, certain circumstances happen on the background that creates much tension. First, the move of Jews on the United States that called for a boycott of German goods was politically motivated, a propaganda to make Jews return to their land by creating fear. Second, even the Jewish Central Association located in Germany disproved the propaganda that they were maltreated by the Germans. Lastly, Germany was financially weak at the time due to a hyperinflation; hence, war would be the last thing they would eventually call for. Sometimes, a nation takes actions with grave consequences when they are pushed to the wall. Indeed, there was not much choice given to the Germans whose acts of defense escalated into a full-blown genocide. However, who can really attest to the truth when both sides have their own interests? The other reading that really struck me was Benjamin Freedman’s speech about the role of Jews in WWI and WWII.