Sunday, January 26, 2020

Why the Employee Engagement Survey is Out of Date

Why the Employee Engagement Survey is Out of Date May 25, 2015 Abstract The objective of this project is to examine a current article and determine the capacity to analysis the current event by developing a rational summary (Schinker, 2015). This article is about the review of a somewhat outdated management method that has recently been given an updated title. The company examined within the article can be any kind of general company and is intended to be used as an illustration of what any company is able of transforming (Schinker, 2015). This is article is intended to demonstration what is not functioning within a company and how that company can go about revamping their method of providing an enjoyable work experience. Current Event Summarization The article that I found for my current event was â€Å"Why the employee engagement survey is out of date?† and is basically a summarization of another article titled â€Å"Its Time To Rethink The Employee Engagement Issue† with an ultimate resolution. So to begin the author of â€Å"Its Time To Rethink The Employee Engagement Issue† is Josh Bersin and based off of my article he argues that the conventional yearly engagement survey is invalid and unnecessary (Red, 2015). Bersin asks for more of an all-inclusive, unified, and instantaneous method to assessing and pushing for greater amounts of associate dedication and desire (Bersin, 2014). The most noted yearly engagement survey developer was actually Gallup who created the initial survey over 30 years ago (Bersin, 2014). Gallup was initially motivated by the industrial engineer Frederick Taylor’s work of the late-1800s (Bersin, 2014). Taylor was the first to notice the increased associate satisfaction on the steel business’ production rates (Bersin, 2014). My article continues to explain that Bersin has an argument that allows us to understand that this old evaluation standard is no longer applicable due to the fact that there are currently too many types of surveying tools used to gauge associate engagement (Red, 2015). The first reason why this evaluation standard is no longer applicable is because the standard is just too constricted (Red, 2015). Based off of my article Bersin implies that the conventional engagement survey is not as comprehensive as it could be (Red, 2015). Developing work societies mean redefining most management designs, the job atmosphere, and even the labor force itself which normally are excluded from most surveys (Red, 2015). Therefore, Bersin goes on to state that companies have to look past these aspects of engagement and come up with innovated ways to make their associates feel wanted and cherished (Red, 2015). Types of ways my article says this is possible could be by providing snack rooms, rooms to relax in, and even ways to eliminate stress such as yoga or a masseuses (Red, 2015). The other reason why this evaluation standard is no longer applicable is because the term engagement is misleading (Red, 2015). Based off of my article it states that Bersin even has a problem with the term â€Å"engagement† he says that engaging a company’s associates is no longer adequate (Red, 2015). He says that a company’s associates have to ready to commit or marry the company (Red, 2015). Yet, the only way this would be possible is by establishing a company that makes their associates want to come to work (Red, 2015). Based off of the article Bersin feels that it would be best if companies began utilizing a new evaluation standard besides the conventional yearly engagement survey (Red, 2015). With that said a new method that companies could adopt would be by gauging the delight and career fulfillment on a regular basis (Red, 2015). By placing instantaneous reaction instruments to a company’s associates it allows these associates to straightforwardly convey their emotions to management so that they can control any disputes before that become overwhelming (Red, 2015). The article also states that based off of Bersin’s perspective that associates should be viewed as the core to a company’s production instead of as just cogs in the machine, which can be interpreted by saying that instead of a company working their associates to the bone that they could utilize the new method mentioned above and make themselves seductive to the associates and they will engage themselves much more o ften (Red, 2015). Current Event Determination Earlier this week we discussed a topic called the quality of work life programs. I feel that this article greatly relates to this concept due to the fact that by engaging a company’s associates they can determine what makes going to work irresistible. This is what the quality of work life programs do for the companies that use them. Therefore, we can see with the following chart that quality of work life programs could basically be the solution to the engagement survey problem. (Gayathiri Ramakrishnan, 2013). With what I have learned this week in regards to what the quality of work life programs are they are essentially expected to help enhance the personal lives of a company’s associates and their functionality to more of an acceptable standard. Now with this said to determine the solution to the question of whether I feel the article discussed a prediction of a recovery, if a negative approach, or success, if a new launch or revamping of a current policy/approach, to this issue?† (Schinker, 2015). I believe that with the concept that the end of the article â€Å"Why the employee engagement survey is out of date?† discussed that the quality of work life programs are the solution to the engagement survey issue and could become very effective in the long run for many companies. I also feel that as long as companies attempt to work with their associates this concept will become even better than the â€Å"engagement survey† concept. Therefore, I believe that as lon g as companies are trying to enhance their method of associate engagement and try to utilize some of the abundant resources accessible to them that they can handle their functionality issues successfully. Conclusion With all of the material from above I trust that the article â€Å"Why the employee engagement survey is out of date?† is an applicable article that completely displays that I understand what make this a management issue (Schinker, 2015). The rationale for this is due to the fact that the article expresses a procedure that is similar to the quality of work life programs, which are a management concept that we discussed this week. The quality of work life programs can also be used as a means for managers to enhance the lives of their associates and the inclusive functionality of the company. References Bersin, J. (2014, April 10). Its Time To Rethink The Employee Engagement Issue. Retrieved May 21, 2015, from http://www.forbes.com/sites/joshbersin/2014/04/10/its-time-to-rethink-the-employee-engagement-issue/. Gayathiri, R., Ramakrishnan, L. (2013, January 1). Quality of Work Life – Linkage with Job Satisfaction and Performance. Retrieved May 25, 2015, from http://www.ijbmi.org/papers/Vol(2)1/Version_2/A210108.pdf, Red, L. (2015, March 12). Why the employee engagement survey is out of date. Retrieved May 25, 2015, from http://www.leadershipreview.net/why-employee-engagement-survey-out-date Schinker, R. (2015). Week 2 Current Event Paper Assignment Description. Retrieved May 21, 2015, from https://davenport.blackboard.com/webapps/blackboard/execute/displayLearningUnit?course_id=_189795_1content_id=_7164613_1.

Saturday, January 18, 2020

Government-operated Gambling

Over the past few years, government operated gambling has grown into a massive business, there has been much controversy around the topic of weather or not Gambling should be regulated. In this essay I will explain my point of view on this topic and give examples that support my ideas. So, what should the state’s policy towards gambling? I believe that the state should not regulate gambling because of three main reasons. My first reason is people’s rights and freedoms.Second, Gambling has grown into a major industry over the pas few years; the centre for addiction and mental health stated in their Gambling Policy framework in 2011 â€Å"Government-operated gambling has steadily expanded in Ontario in the past two decades, revenues reaching $4. 7 billion in 2009. † (2). This shows that Gambling has grown to become a major industry in today’s economy and by doing so it has helped society in several different aspects, the growth of the gambling industry has l ead to an increase in revenue for the government, thus resulting in more social benefits towards the public.Finally, The gambling industry has lead to many job opportunities in north America, offering a beacon of hope to those in need of jobs during a recession. In modern society, freedom is not only supported but also cherished, people should be given the freedom to live their lives as they please, weather they choose to live their lives in a healthy way or not that is up to them. However, they must be given the right to live as they please. In the United States, groups such as the KKK are protected under the first amendment, which protects their freedom of speech, no matter how ludicrous it may be, they have the right to say as they please.The same should be applied to life. People should have the choice to live their lives as they please without being watched over by the government. Since gambling does require participants to be of legal age, we know that the people gambling are adults. These grown ups should be able to have control over their own lives, its their responsibility to understand the chances they are taking when gambling. Some may argue that certain people can’t control their gambling problems and have gotten too addicted to gambling and that casinos take advantage of these people.These claims are supported by some statistics given in the centre for addiction and mental health, which states, â€Å"it is estimated that between 30% and 40% of Ontario’s gambling revenues come from the 3% of the population with gambling problems† (2). This statistic shows that the gambling industry does heavily depend of the people addicted to the game. I would respond by expressing two points. First, the people with gambling problems of which they cannot control are a minority, in Jonathan Wolff’s â€Å"Ethics and public policy A Philosophical inquiry†, the author states that â€Å"between 0. and 0. 8 of the UK adult population could be classified as problem gambles† (59). Furthermore, in the centre for addiction and mental health’s Gambling Policy framework in 2011 that â€Å"just over 3% of the province’s population experiences moderate to severe gambling problems. †(57). These numbers do not justify having to discipline an entire industry that would affect hundreds of thousands of people that work in it and making their living off jobs in that industry.Second, increasing government regulations on casinos and lotteries will not stop these problem gamblers from gambling. Jonathan Wolff states â€Å"in the late 1950s there were towns about 25 percent of the adult population gambled illegally on a regular basis. †(55). Taking this point into perspective, it could be inferred that if the government increases the regulations on legal casinos and lotteries that would make it harder for people with an addiction to gamble, these people will find other ways to feed their addictio n.This is a severe problem because when these people begin to gamble illegally they will put their money into other illegal activities, which could include drugs, weapons or violence. In fact, many large gangs could use this opportunity to fund their illegal activities, which would lead to more trouble in society; another point to be made towards this issue would be that of money, not only would these gamblers be putting their lives at risk when gambling illegally and dealing with gangs, but they could also be keeping this money out of the government’s hand which could go government programs to help the less fortunate.This brings me to my next point and that is that gambling has become a major source of revenue for the government. Government regulated gambling has grown into a massive industry which generates a significant amount of revenue each year of which most ends up in the government as funding for many different organizations. in the paper named â€Å"Gambling: Its Pl easure and costs† by Lorne Tepperman it states that â€Å"The industry group’s report †¦ says 57 per cent of gambling revenue – $8. 7 billion- supported government services and charities. (9). Tepperman also states that gambling is the â€Å"most financially significant† (9) segment in entertainment and that it contributes â€Å"$15. 3 billion a year to the economy, according to the Canadian Gaming Association. † (9). Ronald Pavalko also states in his paper titled â€Å"gambling and public policy† â€Å"State revenues from casino taxes totaled nearly $3. 5 billion. † (336). The reality is that today, we are in a recession we can’t afford to decrease that revenue by implementing harsh restrictions on gambling.It is argued that even though gambling is a major source of revenue for the government, it is also a source of misery for people with gambling addictions. The centre for Addiction and Mental health states that â€Å"F or these individuals, a range of harms may occur, resulting in heavy social, economic, and health costs such as crime, dysfunctional relationships, and bankruptcy. † (2). However, the solution to this problem is not adding restrictions to gambling but is actually using the money made from gambling towards a better cause.As I have previously stated, people addicted to gambling will not be cured from their addiction by regulating legal gambling because they will find other means to feed their addiction. I believe that the best solution to these people’s gambling problem would be using the revenue that they generate for the government in taxes could be used to create social programs for people with serious addictions to gambling that would help them quit.I believe this solution would be ideal because the minority of people with gambling addictions will be treated in a proper healthy way in order to get over their addiction, the left over revenue could still be used in othe r social programs and finally, the money and profit that the casinos and lotteries generate will still flow which would result in more jobs, another source of income to the economy and would prevent people from getting fired from their jobs if harsh restrictions were to be applied to gambling agencies.My final argument for this essay is that of employment. As previously stated, gambling generates a huge amount of revenue for the government, Gambling is a growing industry and with its growth it creates several opportunities for jobs for people in need. Gambling generates many jobs that help the economy grow in this time of need. Gambling generates jobs of all sorts, from the engineers and architects that build and design the casinos, to the people who sell lottery tickets, to those who actually work in casinos.All of these people generate their income because of the gambling industry. Tepperman states that in Canada gambling accounts for â€Å"267,000 full time jobs. † (6). Pa valko also states in his paper that in only eleven states a total of 370,207 people are employed in casinos, In a country with a current unemployment rate of 8%, the Gambling industry should be seen as a source for solutions to a much more serious problem than an addiction to gambling. Expanding the gambling industry will in return create more job opportunities and help decrease the unemployment rate dramatically.However, if the government begins to set harsher policies towards gambling and casinos are required to cut costs, the unemployment rate might increase which would create even more social issue, which could result in protests and riots from the workers who have lost their jobs due to the harsh policy towards gambling. Some might argue that Gambling still creates harm towards many people and even though it can create jobs it can also result in many people losing their jobs. I would respond by quoting Lorne Tepperman â€Å"A majority of adults gamble responsible; only a small minority of the population experiences gambling related harm. (1). I believe that gambling will create more jobs that it will end and that that is just a minor side effect that could be easily cured by the revenue that gambling will generate for the government, this money could be put back into society and produce new projects that create new job opportunities and these jobs could be offered to those who had lost their previous jobs. In conclusion I would say that I do not believe that the government should regulate gambling because of the reasons that I have stated earlier in this essay.First, Gambling is a choice and freedom. It a civil right and the government should not be able to decide weather or not you are allowed to gamble or how much you are allowed to gamble. Second, Gambling has grown into a major industry and has become a major source of revenue to the government. Gambling has helped fund many government programs used to help the less fortunate, even though gambling do es create certain people who are addicted to it, they are nowhere near as many as the people whom gambling helps.In this situation the pros drastically outweigh the cons and as previously stated, the revenue generated from gambling could go towards social programs made to help people with gambling addictions, that way these people will eventually cure themselves of their addiction and the hundreds of thousands of people whom depend on gambling a source of income would not be affected, which is what I believe is a win-win situation. This brings me to my final argument, employment.The gambling industry has created hundreds of thousands of job opportunities to many of those who need it, especially in a recession where millions struggle to find an income support for them and their families. I would say that the government should encourage gambling businesses to grow. However, as Christiane Pouline states in his paper titled â€Å"Gambling† that â€Å"Decisions on policy pertaini ng to gambling need to be based on a full accounting of the health, economic and social benefits and costs of gambling. (1208). Which is why the policy towards gambling should be set to help both the gambler and the Casinos. That policy should state that a majority of the profit that is generated from Casinos should go towards social programs that will benefit society; these social programs should include programs made to help gambling addicts with their problems. James Doughney perfectly sums up this policy in his book titled â€Å"The poker machine state†.Doughney says, â€Å"Try to do good; but even when you cannot at least do not knowingly cause harm. † (1). Over the past several years, gambling has grown into the largest sector of the entertainment industry, creating the most amount of revenue to the government. Our society should be scared of this phenomenon and try to regulate it, we should actually take advantage of it and use it to help make the most the most of this opportunity by using the money made from gambling to improve our lives and the lives of those around us.

Friday, January 10, 2020

What You Dont Know About Admission Essay Writing Service

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Wednesday, January 1, 2020

Animal Hoarding Is A Form Of Animal Cruelty - Free Essay Example

Sample details Pages: 2 Words: 729 Downloads: 2 Date added: 2019/05/23 Category Society Essay Level High school Tags: Cruelty To Animals Essay Did you like this example? How would you feel if you were born and taken away from your mother just to be treated poorly and abused? What if no one knew that type of stuff was going on and you were left defenseless with nobody to lean on? Most people have pets at home that they love and carful and wouldnt know how to handle their baby (in animal form) being treated cruel. Considering that humans and four-legged animals all have feelings and suffer from pain and cruelty, the United States must treat those who inflict pain on animals with the same punishment use for humans who hurt other humans; animals cannot speak for themselves, so people must be held accountable by one another and be required to treat animals with respect and kindness or suffer fines and jail time for any and all cruel actions.. Don’t waste time! Our writers will create an original "Animal Hoarding Is A Form Of Animal Cruelty" essay for you Create order Most animal cruelty/abuse case are never talked about and almost always overlooked. The numbers are rising for arrest as more and more crimes are becoming crueler. According to Human Society, Animal cruelty includes intentional, malicious acts of harm and less evident perdicaments where the needs of an animal are neglected. According to The Guardian website, calls to cruelty hotline rose by nearly 5% in 2016, but charity says increase reflects more sharing of abuse footage on social media. 5-7 million animals are put in shelters each year, more than 20% of dogs left at a shelter had been adopted from a shelter, the number of stray cats alone in the U.S. is estimated to be about 70 million. All animals need to be cared for no matter what condition they are in. If someone were to abuse my pet, I dont think I would take that lightly being that it would extremely hurt my feelings. Imagine being an animal just for a second. Put yourself in those shoes and see if you agree with the way they are being treated. Imagine being locked into a cage with no food or water and getting picked on and itrs nothing you can do; how would you feel? Imagine getting out of that cage and having someone love on you for just a second. You would feel as if you finally found something special and have a go to. According to the Humane Society, of the United States with over 10 million supporters, everything extra counts. They love the animals but there are many who indeed need many things done. Animals being used for research and nothing is being done to stop it. Scientist doing research use many cruel manners for them to experiment. Some do not get various amounts of foods, they get tortured, and are put through many situations no one would want to go through. This is for many selfish reasons, as to seeing how stuff works on them in to regards as to how it will react on other animals or even humans. Animals deserve the world just as well as us humans. Animals could be your best friend, but it just all depends on how you treat them. A lot of individuals go out their way to make sure they take care of, show love to, and protect their animals, simply because they are like babies to them. People feel as if it isnt beneficial to them then itrs not an important story that has to be told. Dogfighting is one of the most heinous forms of animal cruelty. Fighting dogs are typically raised in isolation, so they spend most of their lives on short, heavy chains. They are regularly conditioned for fighting through the use of drugs, including anabolic steroids to enhance muscle mass and encourage aggressiveness. Fighting dogs may have their ears cropped and tails docked close to their bodies to minimize the animalrs normal body language cues and to limit areas that another dog can grab during a fight. (Matt Bershadker, ASPCA President CEO) Animal hoarding is also a form of animal cruelty. It usually happens when one takes in. Most animals abuse, neglect, and cruelty cases are never reported. All animals should be cared for home or shelter. Most scientist use animals for cruel acts as to experimenting. These people who abuse and treat the animal cruelty should be put to a stop and these animals have rights just as we do as people, we shouldnt go against them. (Daniel Gonzalez, Tyler L, Chris G,)

Tuesday, December 24, 2019

Effects of Technology Essay - 1208 Words

Advancement in technology has affected many people in many ways. New technology has altered peoples consciousness, language, and the way society views the world. Technological advancements have made the world smaller, and have made things easier. Computers have been the inventions that have advanced so much since they were developed and have had such a big impact on humanity. Computers were originally developed to use for doing calculations and have come to the point that people cannot function normally without them. quot;Humans were once considered to be superior to all other creatures of the Earth. The reason for human supremacy was the ability to think, process data, store information, and perform calculationsquot;(Silver,†¦show more content†¦Computers provide assistance for many applications such as handling money and record keeping. Though they can be useful, computers can be bad if used improperly. Computers were not developed to think for us; they do not think but rather follow directions. Computers are thought to have changed society but in actuality society has allowed computers to change them. People rely on their computers for everything even tasks that can be accomplished without using a computer. A prime example of this is the internet. Internet The internet was first introduced in 1983 as an extended source of information. Internet access provides the user with information about almost any topic. On-line services, which provide reference materials, electronic mail, and the internet, provide anything and everything a person could possibly need to know about. Instead of writing and mailing a letter to a friend, you could send e-mail directly to his/her computer. Rather than going to the library to do research, a person could sit in front of the computer and find that same information within a matter of minutes. A user on the internet could also go shopping, watch a movie, or talk to unknown people across the world. quot;Millions of people on every continent participate in computer-mediated social groups called virtualShow MoreRelatedTechnology And Its Effects On Technology1411 Words   |  6 PagesTechnology and its Effects The term technology originated from the Greek word ‘technologia’. Technology refers to the use of machines and various tools that make our daily work lives simpler, easier and organized. The word also refers to the different tools, gadgets, and resources used by humans so as to help them control and adapt to their environment appropriately (Bridgman, 5}. Technology also refers to the knowledge of techniques and processes and is embedded mostly in machines used as factorsRead MoreTechnology And Its Effect On Technology971 Words   |  4 Pagesme, the technology is just like a door which brings me to an absolutely new world. It is also like a wire that connects me and the outside world. The first thing that I do before getting up and the last thing that I do before going asleep is checking my cell phone. Every day, I do homework, write blogs, send and receive emails, take photos, know about the latest news, and chat with friends with the aid of technologies. My attitude toward technology is complex. I am obsessed with technology which makesRead MoreEffects Of Technology On Technology1622 Words   |  7 Pagesmany countries have transformed into a modern society completely. Human beings invent many technologies to meet their own needs and for society. Technology has created a lot of comfort for humans, but because of this convenience, people are increasingly dependent on technology. The technology that influences humans today is computers, including smartphones. Computers are one of the most advanced technologies that people made. It has a variety of capabilities that can be used in various tasks, learningRead MoreThe Effects Of Technology On Technology1220 Words   |  5 Pagesbecome more and more dependent on technology. I myself have watched it invade my home and become an essential part of my life. Almost every household in the United States in connected to social media in some way. Many of us have become so dependent on it that we feel like we’ve lost a part of ourselves when we lose out phones. Technology has given us the power to make major leaps in medicine, communication and entertainment. With all of this wonderful new technology it makes me wonder, is it affectingRead MoreTechnology And Its Effects On Technology982 Words   |  4 Pagespicture how human’s life becomes less and less difficult because of the help of the technology. Less work means less energy spent. That is why humans become fatter and fatter. Analyzing the photos brings us to the assumption that the current humans have little to do. 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The majority of people own at least one or more of these devices: a computer, lapto p, tablet, or a cell phone. So many people seem unable to function through their daily routine without having access to some form of technology device. I’m willing to bet that you have at least two of these devices in your home, too. Now, stop and think about how often we use technology devices throughout the day. As a result ofRead MoreThe Effects Of Technology On Technology744 Words   |  3 PagesChildren are growing up with all this technology interfering with the childrens childhood and health. Parents should limit screen time for their children two hours a day. Technology is over powering our world today. Parents shouldnt introduce technology to their childrens life quite yet wait until the children are at least three or four years of age. The use of digital device during a young age can interfere with the childs health. If the children are exposed to digital devices when they areRead MoreEffects of Technology925 Words   |  4 PagesApril 20, 2011 Effects of Technology Miguel Angel Rodriguez Effects of Technology Technology has been a great impact in our lives. It has quickly developed and continues to expand in our lives. As new generations develop, new technological devices continue to develop as well. Some believe that technology has had a good impact in our lives like Richard Woods. Others like me believe that technology brings a lot of negative effects to our personal and social lives as Sarah Kershaw mentions. WeRead MoreThe Effects of Technology893 Words   |  4 Pages . Technology has changed so many of the ways in which we live our lives, from the invention of the wheel to the advanced systems we use and take for granted everyday. Technology was once taboo in most house holds while people still clung to the idea that life was built on life experiences. Nicholas Carr stated in, Is Goggle making us stupid? Back in the fourth century, BCE, Plato complained that writing (then a fairly new technology) was destroying peoples memory, yet he wrote

Monday, December 16, 2019

How William Shatner Changed the World Free Essays

The documentary â€Å"How William Shatner Changed the World† is about the global effect that the original series of Star Trek had on technology throughout the world. The documentary talks about the technology that currently existed when Star Trek originally came out in 1966 and its comparison to the ‘futuristic’ technology that was onboard the Star Trek ship the ‘Enterprise’. This ‘futuristic’ technology onboard the enterprise sparked a revolution in the world’s technology and inspired many to make technology similar to the ones on Star Trek. We will write a custom essay sample on How William Shatner Changed the World or any similar topic only for you Order Now Many film techniques are used in this documentary not only to make the documentary interesting, but humourous as well. Some of these film techniques include various camera shots, archival footage and montages to name a few. In the beginning of the documentary, William Shatner is talking and is driving his car and whilst he is driving it there are many jump shots between his car and segments of Star Trek. The effect of this gives you insight of what the documentary is mainly about. In this documentary many inventors make an appearance in the documentary and talk about how Star Trek inspired them to invent their technology e. g. Martin Cooper who was the inventor of the cell phone the shots used when all of them are talking are medium shots that capture their face and upper torso. This gives off the feeling that the people look close and also so that the camera men can capture them using arm gestures. The use of archival footage is used a lot throughout this documentary showing mainly clips of Star Trek relating to the topic that William Shatner is narrating about. This makes it easy to show what the ‘futuristic’ technology Star Trek had at the time so we can see and compare it to today’s modern technology that we take for granted. One of the more interesting film techniques that was used in the documentary was a segue which was used when William Shatner walked up to a giant rock, then an edit was used to show archival footage of him as an younger actor in a Star Trek episode fighting an alien, and as an alien throws the rock, the current William Shatner comes back into view and catches the rock. This use of one motif being the rock used in two scenes to link each other is a slightly humourous segue. Other film techniques used in this documentary are camera angles where William Shatner deliberately moves the camera up and down making him look slightly different from both angles. Editing is also used throughout the documentary a lot for example when William Shatner was narrating and the camera was upon him, jump cuts are used switching to different shots of him like close ups, long shots and crane shots. This editing makes William Shatner’s narration more interesting and funny. â€Å"How William Shatner Changed the World† is an example of a great documentary that uses its film techniques wisely and with good timing, not to mention the documentary has a very good context that appeals to many viewers because of its witty humour. How to cite How William Shatner Changed the World, Papers

Sunday, December 8, 2019

The Importance of Corporate Accounting sample assignment

Questions: In virtually all commercial settings we might expect that the notice of liability carries the connotation only of an amount legally owing. But in conventional accounting it is not the case. As with the notion of asset there are items appearing in the financials as left-overs from the processing of the transactions data in a sense capitalised liabilities, and there are the injection of pure fictions such as deferred tax liabilities (the counterparts of the deferred tax asset), and the imputation of provisions for obligations that might accrue. The first arises by virtue of the accrual system being based upon revenues being allocated on the basis of time rather than receipt, the second by virtue of the tax effect system of accounting, and the third from bringing to account expected obligations before they arise (Clarke and Dean, 2007, p 79). Clark, F., Dean, G. (2007). Indecent Disclosure: Gilding the Corporate Lily. Cambridge University Press. Melbourne. Instructions: Download a 201 5 annual report for a listed company from the Australian Securities Exchange (ASX) website. Groups are not allowed to do the same company and should discuss their selection with their tutor prior to commencing their research assignment (Banks are not allowed as they have particular reporting requirements). Refer to the marking guide (attached) for additional information and requirements. Required: 1. With reference to the above statement describe what you understand by the accounting concepts mentioned and provide examples from your selected annual report. 2. Discuss the problems of tax effect accounting addressed in the above statement in the context of the present AASB / IASB standards and the conceptual framework using your selected annual report to provide examples. 3. Comment on the issues of tax effect accounting in the above statement as they relate to the provision of decision useful information. Use your selected annual report to provide examples. Answer: Introduction The importance of corporate accounting can be observed majorly in the context of developing and maintaining the financial as well as accounting approaches for the global organizations. By investigating the definition of corporate accounting, it is acknowledged that the particular process is one of the broader areas of accounting responsible for dealing and controlling wide range of accounting practices for the companies. From the preparation of major financial statements to the analysis and interpretation of the financial results, the involvement of corporate accounting can be significantly found in the important events associated with the company, such as the amalgamation, absorption, or preparation of consolidated accounting statements (Ahmed Henry, 2011). Concerning the particular understanding, the basic description of different accounting principles and concepts is attempted to be explored by considering the annual report of an identified company. In this case, the annual repor t of 2015 is considered for Woolworths Limited, operating in Australian the supermarkets and grocery segment and listed in Australian Stock Exchange. The company plays the role of a duopoly in the Australian supermarkets with the combination of Coles. The combined operation of both the companies is accounted for around 80% of the market share in the Australian supermarkets chain (Crowther, 2012). The subsequent portion of the paper will essentially deal with the application of key accounting concepts with the example of the companys operations along with identifying the accounting problems encountered by the business with the present AASB or IASB standards. Requirement 1 Accounting concepts are known as the guidelines to develop the set of rules followed in the preparation of relevant accounts and financial statements associated with the companys operations. According to the primary understanding, it should need to mention that there are four fundamental concepts are involved with the development of accounting standards and policies in the process of developing financial accounts and statements for the company (Dagwell, Wines, Lambert, Psaros, 2011). These concepts are known as accrual concept, consistency concept, prudence concept, and going concern. Based on the accrual concept, the expenses or revenues are recorded by their occurrence, where these are not recorded during the reception or payment of cash. On the other hand, the consistency concept suggests the utilisation of accounting methods after its particular selection, and the company should need to provide a sound reason in case it is opting otherwise (Davis, 2012). Considering the prudence concept, the inclusion of revenue and profit are made in the balance sheet of the company only after their realisation, whereas the inclusion of liability is needed to be made where there is the possibility to incur them. Lastly, the going concern reflects the account of the business entity should need to be prepared in good condition, and the same is expected in foreseeable future of the business as well. In the case of Woolworths, the basic involvement of AASB 9 ca be observed in the operation of the company. The particular involvement of the accounting standard guidelines provides an option for measuring the investment in equity instruments at the fair value to identify the possible changes in the form of other comprehensive incomes of the firm (Feldmann Rupert, 2012). From the example of the annual report of 2015 of Woolworths, it can be found out that only the dividends are recognised from the consolidated income statement, as developed by the firm. From the annual report of the company, it is also clear that a particular group is selected by the company for applying the option. It is analysed that the basic application of the accounting standards affects the process of accounting for investments in different groups, like The Warehouse Group Limited, Australian Leisure and Entertainment Property Management Limited, and Shopping Centres Australia Property Group. All of these group s have been designated to achieve the fair value through the involvement of other comprehensive incomes (Henry Holzmann, 2012). Based on the investigation to the generate income from these comprehensive variables, the changes can be observed to be occurred. The retrospective effects of these identified changes can be observed majorly in the retained earnings associated with the operations of the company both in current and previous financial years. From the analysis of the Annual report of Woolworths for 2015, it is further identified that the issued standards and interpretations are not adopted within the industry earlier. In this case, some of the major standards and amendments are found, as part of the critical accounting concepts of AASB should need to be discussed, as these were available for the early adoption based on their relevance with the operations of the consolidated entities like Woolworths (Miller, 2012). However, these standards and concepts have not been applied in the financial statements of Woolworths. The Financial Instruments and Amendment to Australian Accounting Standards Conceptual Framework are two of the major parts of AASB 9 driving the development of some specific standards, which are not expected to have the significant impact on the reported amounts obtained from the consolidated financial statements. However, the significant application of these standards results in more extensive disclosures of the reports generated by the financial statements of the company. In the case of the operations carried out by Woolworths, the revisions to AASB 119 can be observed due to the particular implication of such accounting concepts leading towards the amendments of the accounting policies adopted by the company for defining the benefit plans (Nolop, 2012). Based on the investigation, it can be clarified that the utilisation of the expected return on the planned assets and the interest cost associated with the previous version of AASB 119 are replaced with the amount of net interest. Here, it is worth to mention that the company has calculated the specific amount of net interest by the application of the discount rate to the net defined benefits of the assets or liabilities. In this particular scenario, no restatement of the comparative information can be found on the annual report 2015 for the company, due to the impact of the identified change is immaterial to the overall group. Requirement 2 The guidelines of the accounting standards of AASB 101 requires the suitable presentation of the financial statements with the ensuring the involvement of the directors in the process of preparation of those statements. Based on the analysis of the identified annual report of the company, the roles played by the directors during the preparation of financial statements are clearly addressed (Panaretou, Shackleton, Taylor, 2012). Considering the particular analysis, it is acknowledged that the directors are required to develop the assessment regarding the ability of the company to continue as the going concern. On the other hand, the directors are required to disclose their uncertainties during the process of assessing the going concern. This particular role played by the directors is provided the utmost importance by Woolworths, as the uncertainties are significantly responsible for providing hindrance on the going concern related to the operations. In the case of the reputable history of the companys operations, i.e. the ability of the company to maintain a profitable operation during the past financial years, the organization can avoid the need for conducting detailed analysis to the going concern status. Within the annual report of the company, it is addressed that the growing issues are faced by the business due to the little concern provided to the continuation of the profitable operations (Picker, 2012). However, it is also mentioned in the annual report that achievement of such process will significantly require the ready access to the financial resources as per the requirements. Therefore, the significant amount of challenges is experienced by the company to satisfy all the required financial resources to develop the detailed analysis to guide the operations of the company and identify the area where the intervention of relevant accounting concepts are required. Concerning this particular scenario, it has become difficul t for Woolworths to support the going concern due to the instability in the retail environment of the Australian economy (Sherman, 2011). On the other hand, the going concern cannot be supported fully without performing the detailed analysis, as mentioned in the AASB. Based on this identified fact, Woolworths provided the high level of priority to maintain the appropriateness of the going concern assessment for the company at the end of each financial reporting period by leveraging more pressure to the roles and responsibilities played by the directors. The application of the various accounting concepts and standards related to the AASB can be observed in the different assumptions and assessment within the organizational functions of Woolworths. The roles and responsibilities played by the directors, as discussed earlier, should need to be supported by the adequate documentations formed by the management (Shim, 2012). The annual report developed by the company reflected that the management of Woolworths is responsible for conducting the detailed analysis including the reassessment of the past forecasts of the company. The past forecasts are comprised of the cash flows or different accounts maintained by the accounting division. This particular role is defined for the management of Woolworths to provide accuracy to the underlying assumptions by comparing to the actual financial results (Stevens, 2010). However, the company faces with some specific issues during the time of evaluation caused by considering the some essential factors. Firstly, the challenges are developed due to the degree of uncertainty about the future event, and the amount of such challenge will increase as the length of the period increases. Secondly, the issues can also arise for the management of Woolworths caused by the invalidity of the assessment, made in the last going concern. Lastly, due to the large and complex size of the organization, it is more sensitive to the external factors leading to the company to make significant decisions regarding the outcomes of the future events or conditions. Requirement 3 The identified issues as discussed regarding the application of these accounting standards and principles associated with AASB, as well as IASB, have their potential impacts on the difficult and unstable market conditions, which is required to be dealt accordingly by the company through the careful evaluation (Sunder, 2012). In this case, it is necessary to mention that the uncertain economic or market condition within the country does not always reflect a significant amount of doubts related to the ability of the business to continue as a going concern. Therefore, it provides certain opportunities to the directors in forming the final assessment related to the going concern, as they should need to be involved in the proper evaluation process. Here, the evaluation is required for determining the most appropriate potential outcomes for the specific company regarding the particular circumstances. Based on the application of the accounting concepts producing a significant number of issues to the company, it is observed that the principles and guidelines also lead towards the absence of material uncertainties forming major doubts about Woolworthss ability to continue as the going concern (Tauringana Mangena, 2012). In the case of going concern of Woolworths, the process of assessment leads to the involvement of high degree of judgement by the directors and subsequently to the auditors. The degree of judgement is highly based on the individual circumstances of the company. This particular judgement or decision-making is considered as the vital factor providing actual understanding about the company through the analysis of its annual reports. In the case of any doubts emerged from the going concern assessment process or any assumptions, these does not necessarily suggest that the company is likely to become insolvent (Wiley CPA Exam Review Focus Notes 2012, Financial Accounting and Reporting, 2011). Hence, it can be critically observed that the accounting issues addressed by the annual reports can relate significantly to the provision of decision-making and develop useful information about the company. Conclusion From the overall understanding, it can be ascertained that the different standards and principles associated with the corporate accounting play the major roles in the formation of financial statements and relevant accounts associated with the operations of an organization. In addition, the companies are responsible for addressing the inclusion of different accounting concepts and standards in their operations as part of forming their annual reports. The overall process helps to extract significant sense about the companys operations and their compliance with the particular accounting board, i.e. AASB or IASB. References Ahmed, K. Henry, D. (2011). Accounting conservatism and voluntary corporate governance mechanisms by Australian firms.Accounting Finance,52(3), 631-662. Crowther, D. (2012).A social critique of corporate reporting. Farnham, Surrey: Gower Pub. Dagwell, R., Wines, G., Lambert, C., Psaros, J. (2011).Corporate accounting in Australia. 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