Inventory System for Gamot Publiko Drugstore Document Essay

1.1Background of the Study It has been disclosed during the interview that Gamot Publiko Drugstore needs a computerized inventory system. The company’s current inventory monitory system though works for them has to automate. A simplified computerized inventory system will be very helpful to the company since this will expedite its inventory workflow as well as generate very timely reports needed by the management for its evaluation and review and overall decision making. An inventory control system is a process for managing and locating objects or materials. In common usage, the term may also refer to just the software components. Modern inventory control systems often rely upon barcodes and RFID tags to provide automatic identification of inventory objects. In an academic study performed at Wal-Mart, RFID reduced Out of Stocks by 30 percent for products selling between 0.1 and 15 units a day. Inventory objects could include any kind of physical asset: merchandise, consumables, fixed assets, circulating tools, library books, or capital equipment. Inventory Systems help companies with huge inventories to easily and accurately monitor their stocks. With the use of a database, information will be readily available to the user and can be easily updated without having to scroll through spreadsheets. 1.2Statement of the Problem As business has grown rapidly , inventory monitoring becomes significant factor in managing overall business operation. The company had humble beginnings in terms of sales. From a few easy to handle flow of inventory stocks, the company had to handle large volume of stocks due to sales demand. The stock cards used as inventory monitoring sheets , were transferred to MS excel type control sheets. As sales and purchase volume increased, sales returns and inventory claims were inevitable. The process of updating inventory files became slow .Though reports are generated, they were usually delayed. The need for timely inventory reports is necessary in assessing business performance . A more convenient, easy to monitor, easy to access inventory monitoring system will ease the problem on unaccounted inventory and delayed inventory reports. 1.3Objectives of the Study 1.3.1General Objective To develop a computerized inventory system for Gamot Publiko Drugstore that will make its inventory monitoring convenient, efficient and timely. 1.3.2Specific Objective †¢To develop a module that will automate the monitoring and updating of the company’s inventory. †¢To develop a module that will provide a timely and convenient report generation. 1.4Significance of the Study The company currently maintains inventory level at three months of its sales requirements. Before the company’s inventory turns low of its inventory level requirement, an order needs to be placed through a Purchase Order duly approved by the company’s responsible approving officers. This Purchase Order is then sent to suppliers for acceptance and delivery. Sometimes, the company does bulk order as negotiated between the supplier for bigger discounts and low pricing. So far, the company has never encountered any problem among its supplier . Goods were so far been delivered in good condition and on time . 1.5Scope and Limitation For the company Our System would help the company to make easier to store and retrieve all the data file. I will allow the management to check and closely monitor the data file transaction and status of their stock. For the user This System lessens their time of work in checking and updating all the files and protecting of the files are included in this system so the user might open the file without concern of something happen to it. Transactions Stock Ordering A stock order simply means the ordering of new stock to refill the inventory, replenish shelves or when a large order has been made etc. The warehouse will be contacted and the delivery will be made. Customer Purchase A Customer Purchase simply means that the customer will buy what they want or what they need in the company.

Human Development Essay

Human development is marked by different stages and milestones over the lifespan. It is expressed over three domains: physical, cognitive and socio/emotional. While human physical and cognitive development is universal, socio/emotional definitions and development vary from culture to culture. The various stages of human development include the prenatal period, infancy, toddler hood, early childhood, middle childhood, adolescence, young adulthood, middle adulthood and late adulthood. Each stage is marked by milestones in physical, cognitive, and socio/emotional development. The theorist that investigated about middle adulthood was Erik Erickson. Erikson observed that middle-age is when we tend to be occupied with creative and meaningful work and with issues surrounding our family. Also, middle adulthood is when we can expect to â€Å"be in charge,† the role we’ve longer envied. The significant task is to perpetuate culture and transmit values of the culture through the family and working to establish a stable environment. Strength comes through care of others and production of something that contributes to the betterment of society, which Erikson calls generativity, so when individual in this stage they often fear inactivity and meaninglessness. As children leave home, or relationships or goals change, they may be faced with major life changes—the mid-life crisis—and struggle with finding new meanings and purposes. If adults do not n get through this stage successfully, they become self-absorbed and stagnate. The main features of midlife refer to the transformation and progress on physical, cognitive/intellect and social domains. Changes are also evident on expertise and personality. Physical change is the most gradual. Such changes include, atrophy of muscles, slower metabolism, skin elasticity and dryness, wrinkles, slow growth of nail and hair and baldness. These changes also facilitate the decrease in height, increase in weight and decrease in bone density, strength and immunity, vision and hearing and decrease in kidney function and cardiac output. The greatest lost in this domain since physical factors are the primary source of sensory and motor functioning. The changes in physical attributes are generally characterized by menopause in women and andropause in men. Menopause is when the body stops ovulating and producing estrogen and gradual decline in testosterone levels. These physical changes are emphasized of the double-standard of aging. Men become more distinguished and women become old. Cognitive changes has to do with the way humans perceive and experience the world and deals with issues like memory, thinking and decision-making processes and concept comprehension. During middle adulthood, humans are experts at problem solving, although they begin to experience some signs of decline with speed in processing and recall. The lost mainly focuses the ability to perform tasks unlike the agility that they could exert when they are much younger. Many are losing confidence on performing the same task because their IQ or memory won’t allow them to do so. Social changes are wherein the individuals became more aware of his being, his worth and his surrounding. They become more aware of their own mortality, the passing time and the seriousness of the physical decline. The gain is the opportunity to identify you with others and contribute time to the community. Social changes has to do with how an individual is able to handle emotions, relationships, social situations, and the various roles demanded of them by society. Some aspect of Socio/Emotional standards, such as social expectations, relationships, and roles vary from culture to culture. The implication of middle adulthood to social work practice basically refers to the familiarity of the social worker to the journey of the service-users towards reaching that stage of life. The social worker may find difficulty in dealing with them especially when he or she has no idea where his or her clients’ concerns and issues are coming from. Their assistance would be feasible if they can recognize the role that culture plays on the process of. Middle adulthood is met with the psychological and emotional challenges of facing the mid-life crisis, and a life analysis and inventory is taken. During this stage of lifespan, adults encounter changing roles that families face. Firstly in terms of career and work. Adults most often choose to go to college for work-related purposes. Many employers require workers to attain certain levels of education in order to qualify for promotions due to globalization. some adults may change career fearing the consequence of losing jobs while Others go to college to learn new skills in preparation for another career. Some, adults may also return to college simply for personal enrichment. â€Å"The role of work , whether one works in a full time career, part time job or as a homemaker, is central during middle adulthood†(Santrock,2009,p490). As adults reach their peak position in earning, they are saddled with multiple financial burdens including rent, mortgage, medical bills, and children tuition. These competing demands hinder the middle adulthood to further to career progress. They decide whether to change jobs or career, or rebalance family and work or plan for retirement. Having some knowledge about human lifespan development is beneficial for many reasons. It increases self-awareness and understanding, which helps with life planning. If a female is aware of the stages of her physical development, for example, she will know that her natural childbearing years are limited. If she wants to have children, she can use family planning to make choices about her education, career and mate to support this goal. Additionally, this knowledge can be helpful for improving relationships and interpersonal communication and resolving conflicts.

Free Education in Europe

HeadStart An ISO 9000:2001 Certified Organization. Member of NAFSA, EAIE Sent over 1500 students since 2001. Free Education in Europe Austria, Belgium, Czech Republic, Denmark, Finland, Germany, Hungary, Netherlands, Norway, Poland, Spain, Sweden Ahmedabad : 079-30179032, 30172039, 99740 35372 Jaipur : 0141 2378982, 237899 Email : [email  protected] co. in Web: www. headstart. co. in HeadStart HeadStart An ISO 9000:2001 Certified Organization. Member of NAFSA, EAIE Sent over 1500 students since 2001. Ahmedabad : 079-30179032, 30172039, 99740 35372 Jaipur : 0141 2378982, 237899 Email : [email  protected] co. in Web: www. headstart. o. in HeadStart HeadStart An ISO 9000:2001 Certified Organization. Member of NAFSA, EAIE Sent over 1500 students since 2001. European (Scandinavian) countries have a tradition to provide free education. Initially all the education programs were available in local language. Since last few years, when they realized the importance of internationalization, they started offering programs in English also. Now majority of their Master degree programs are available in English as well as a few of their Bachelor programs are also available in English. European (Scandinavian) countries have a tradition to provide free education.Initially all the education programs were available in local language. Since last few years, when they realized the importance of internationalization, they started offering programs in English also. Now majority of their Master degree programs are available in English as well as a few of their Bachelor programs are also available in English. We have several programs like PhD, Masters, Bachelors in various subjects like Arts, BioTech, Sciences, Commerce, Chemistry, Business, Design, IT, Management, Engineering, Biology, Computer Science, Physics, Earth Agriculture, Health Sciences etc. vailable in countries like Germany / Sweden/ Norway / Belgium / France etc. These programs are available for Free (No Tuition Fee) or at a very subsidized fee structure and the medium of instructions is English. The standard duration for all Master degree programs are 2 years, Bachelors are for 3 years. Ahmedabad : 079-30179032, 30172039, 99740 35372 Jaipur : 0141 2378982, 237899 Email : [email  protected] co. in Web: www. headstart. co. in HeadStart HeadStart An ISO 9000:2001 Certified Organization.Member of NAFSA, EAIE Sent over 1500 students since 2001. Advantages There are many advantages available in Europe comparing to US/ Canada/ Australia etc. apart from free study programs like: Schengen Visa Liberty to, move around almost entire Europe without Visa constraints. English Advantage All MNC's working there or European MNC's, working in English speaking countries always prefer employees who can speak English. Extended Visa You get a 1 year extension after completion of your studies to find employment.Employment Opportunities All these countries are prime business nations and facing negative population growt h, so chances of getting employment after studies are even higher than US/ India/ Aus / Canada. Work Permit Secure an Employment & immediately get a 3 yrs work permit. Safe & Secure Most of these countries have a crime rate of almost zero. Prosperity These countries have almost 100% literacy as well as per capita income higher than even US. Credentials, ECTS & Education Standards All the qualifications are world-wide recognized and acceptable. All European syllabuses are now based on ECTS (European Credit Transfer System).One can change Universities without losing credits. European standards are very high and their integration of Education with practical application are very advantageous. Ahmedabad : 079-30179032, 30172039, 99740 35372 Jaipur : 0141 2378982, 237899 Email : [email  protected] co. in Web: www. headstart. co. in HeadStart HeadStart An ISO 9000:2001 Certified Organization. Member of NAFSA, EAIE Sent over 1500 students since 2001. Advantages There are many advantages a vailable in Europe comparing to US/ Canada/ Australia etc. apart from free study programs like:Development Most of these countries are technologically very advanced and their infrastructures are better than the best. Living Indian students can find it cheaper than US/ Canada/ UK if they stay in groups & prepare own food. Part time work At most places part time work is allowed up to 20 hrs/ week. Permanent Settlement Settlement options are possible at most European Countries after completion of a certain period on Work Permit. No SAT/ GRE / GMAT SAT / GRE/ GMAT are not required for most of the programs. Although, IELTS or TOEFL is desired for most of the English programs. Language – Drawback or another Advantage?Almost every country in Europe has it’s own language, which takes some time to understand. One can take this as an opportunity to learn a new language. Ahmedabad : 079-30179032, 30172039, 99740 35372 Jaipur : 0141 2378982, 237899 Email : [email  protected] co. in Web: www. headstart. co. in HeadStart HeadStart Living Expenses An ISO 9000:2001 Certified Organization. Member of NAFSA, EAIE Sent over 1500 students since 2001. Indian students who live in groups and prepare their own food can survive in Euro 300 to Euro 500 per month. Students who live independently may have to spend Euro 500 to Euro 750 per month. Why Study in Sweden / Germany?No Tuition Fees for most courses. Now many courses are available in English. Internship opportunities are available in Multi National Companies. All courses are recognized worldwide including India. Flexible approaches to studies. Schenegen visa opens the doors for all European countries. Great opportunity to save money. No Visa Hassles. Visa Conditions are relatively very easy. Very low living expenses (approx. 300 Euro/ month) Part Time Jobs are available. (up to 20 hrs. / week) Good career prospects, ample placement opportunities. Hundreds of course options available. Ph. D. opportunities are availa ble after PG.All Universities in German, Sweden, Finland, France, Belgium, Norway are almost equally ranked & the courses have recognition worldwide. Fields of study †¢Engineering (Mechanical, Electrical, Chemical, Civil, Computer, Aeronautical, Automobile & many more) †¢MBA (Finance, International Business, European Asian Bus. Mgmt, Supply Chain Mgmt. ) †¢Public Health, Medical Engineering, Medicine †¢Environmental Science, Bio Technology †¢Economics, Law †¢Natural Sciences †¢Social & Cultural Studies, Psychology †¢Agricultural & Forestry, Regional Planning Note : MBA & some other programs are normally paid programs or available in German Language.Ahmedabad : 079-30179032, 30172039, 99740 35372 Jaipur : 0141 2378982, 237899 Email : [email  protected] co. in Web: www. headstart. co. in HeadStart HeadStart Entry requirements for admission Minimum First Division Marks English Proficiency: TOEFL (213) or IELTS (6. 0) Language Proficiency for Un dergraduate Programs First come first serve basis Documents requirement for application (10 sets) Updated Resume Photographs (10 nos. ) Transcripts (Final year) Mark sheets (10th onwards) An ISO 9000:2001 Certified Organization. Member of NAFSA, EAIE Sent over 1500 students since 2001. Letter of recommendations (2/3)Certificates / Diploma / Degree (10th onwards) -Original-sealed & stamped -Notarized Photocopies -Notarized Photocopies -On letterhead (Original-sealed TOEFL / GRE / GMAT Score cards (if available) Other Academic Photocopies (if any) Final year Project summary (for Engineers) Work Experience Certificates (if any) Monthly Living Expenses Food Accommodation Health Insurance Transport etc. Total monthly expenses Earning Potential Work allowed Minimum per hour wages Loans – & stamped by individual faculty/ employer) -Notarized Photocopies -Notarized Photocopies -Computer Printout -Notarized Photocopies 00 Euros / month 150 Euros / month (sharing basis) 50 Euros / mont h 50 Euros / month 400 Euros approx. 20 hrs / week 6 –8 euros Can be availed from nationalized banks @ 10. 75% to 12. 00% p. a. Ahmedabad : 079-30179032, 30172039, 99740 35372 Jaipur : 0141 2378982, 237899 Email : [email  protected] co. in Web: www. headstart. co. in HeadStart HeadStart An ISO 9000:2001 Certified Organization. Member of NAFSA, EAIE Sent over 1500 students since 2001. Highlights Students can travel in and around the European Union on the Schengen Visa. Students can stay for 1 year (or 2 years) after their course of study to find work.European Union’s new policy encourages Indian manpower for Immigration. Education standards are at par with World’s best education standards. European Institutions funds all prospective research scholars. HeadStart – Germany / Sweden / Belgium / Norway – Education Package 1. Counseling for Course Selection 2. Professional Counseling for Future prospects 3. Application to Universities (3 to 10) 4. Docu ment arrangement for Application 5. Guidance for preparing SOP, Resume, LOR 6. Visa File Preparation, Assistance & Guidance 7. Assistance to avail Study Loan, Medical Insurance, International Bank A/c. Air Ticket, Foreign Currency 8. Post Landing Services (Subject to availability) 9. IELTS/ TOEFL Coaching Program* 10. GRE/ GMAT Training Program* 11. German/ Swedish/ Italian/ French Language Training* Under Graduate Programs Under Graduate Programs (English Medium) Under Graduate Programs (Medical) Master’s / Diploma Programs MBA / Masters (English Medium) Programs Ph. D. Programs :Euro 2000 (1 Euro = INR 60) :Euro 3000 (1 Euro = INR 60) :Euro 3000 (1 Euro = INR 60) :Euro 2000 (1 Euro = INR 60) :Euro 2000 (1 Euro = INR 60) :Euro 2000 (1 Euro = INR 60) * We charge Euro 1000 as Advance payment for all programs. Training / Coaching Fees not included. Ahmedabad : 079-30179032, 30172039, 99740 35372 Jaipur : 0141 2378982, 237899 Email : [email  protected] co. in Web: www. headsta rt. co. in HeadStart HeadStart An ISO 9000:2001 Certified Organization. Member of NAFSA, EAIE Sent over 1500 students since 2001. FAQ on Education in Germany / Europe – General †¢ What are the different types of Universities in Europe? For studying in Europe can choose between universities and universitystatus institutions, such as the technical universities, or the Fachhochschule institutions, or the colleges of art, music and film.All state-maintained higher education institutions are open to students of all nations. Which European Universities are Reputed? Its a difficult to answer this question, there is no specific ranking system. Some magazines like Spiegel in Germany publish university ratings every year, the other one I know is from HUMBOLDT. †¢ When is the deadline for applying? There are two semesters Winter & Summer. So, depending on the University the session either in winter or summer. Hence plan to apply before one year of your desired starting time. à ¢â‚¬ ¢ How much is the Tuition fee?Until now there was no tuition fee in Germany/ Sweden / Norway/ Belgium/ Finland, now government and universities have decided to collect tuitions fees (some Universities still have no tuition fees at all) varying from 500 Euros till 2500 Euros per semester depending on course, university etc. So please check respective universities for complete information. Normally, Under Graduate English medium programs carry a tuition fee ranging between Euro 2000 to Euro 12000 p. a. †¢ Do I need TOEFL or GRE Score? Usually not, but some universities may ask TOEFL/ IELTS for English competence.However, GMAT / GRE are generally not required. What is the medium of Instruction? It can be in English or in German. Mostly, undergraduate programs are in German Language. But at PG level, most programs are now available in English. Ahmedabad : 079-30179032, 30172039, 99740 35372 Jaipur : 0141 2378982, 237899 Email : [email  protected] co. in Web: www. headstart. co. in HeadStart HeadStart An ISO 9000:2001 Certified Organization. Member of NAFSA, EAIE Sent over 1500 students since 2001. †¢ Do I need German / Swedish / French language?If not for education (depending on whether medium of instruction is in Regional Language or English) for social life I believe one should definitely learn basic Regional language. †¢ Where do I learn German / French / Swedish language? It is always advisable to study German Language in Germany as it is easier and faster to grasp the language there. HeadStart arranges language training (paid) to all students. †¢ How much is the living expenses? Depending on the city the costs vary though on an average 400-500 Euros per month should be sufficient. 200 – 250 Euros House Rent + 60 Euros Insurance + 100 Euros Food + 50 Misc. ). The figures given are rough estimate it can vary depending on the city / person etc. †¢ Can I work as a Student? Yes, up to 18 /20 hours per week, and up to 2 months full time Including doing 3 months full time job as a student per year. But one needs to get work permit for working as a student. Part time student job fetches about 8 to 10 Euro per hour. Ahmedabad : 079-30179032, 30172039, 99740 35372 Jaipur : 0141 2378982, 237899 Email : [email  protected] co. in Web: www. headstart. co. in HeadStart

Buying Stuff Online and How Your Credit Card is You Essay

Buying Stuff Online and How Your Credit Card is You - Essay Example That said, there are issues with credit, including the fact that credit is often abused and there is also the risk of identity theft. That said, since credit is inextricably bound with the rise of consumerism, credit is very important to society and is not likely to recede anytime soon. This paper will explain how consumerism came about, how globalization and online purchasing has changed how people buy stuff and use credit, and what the dangers are of credit. Evolution of the Economy The economy has been evolving continually, from a period of time before mass production, to mass production, to globalization. The economic realities during the 19th Century, before the advent of mass production, was that a Puritan ethos prevailed. This means that housing was sparse, money was not spent on non-necessities, such as jewelry, eating and drinking well, and fine clothing (Bocock, 2000, p. 8). This all changed with Henry Ford. Henry Ford was the father of consumerism, because, under Ford, wor kers were paid better. Because workers were paid better, they had more purchasing power. Because workers had more purchasing power, there was more demand for products. Consumerism was the result of this cycle (Gabriel & Yang, 1995). Suddenly, it was not just the rich who were able to consume products which were non-necessities, but everybody could (Gabriel & Yang, 1995, p. 10). ... This changed by the middle of the twentieth century, however, in that, by this time, only one third of a British family's income was spent on food (Gabriel & Yang, 1995, p. 12). With mass production came branding, and the individual's desire to purchase products with labels and designers. This was because mass production meant that similar goods were flooding the marketplace. Companies had to stand out amongst the competition. This was the beginning of competitive branding, as different designers and labels emerged, and these designers and labels lent an air of prestige to the products. For example, designers such as Ralph Lauren and Tommy Hilfiger made names for themselves, and they were able to charge a premium for their products, because their products carried this extra prestige (Klein, 2000, p. 6). Gender issues emerged during this period. The men were busy making money, and the women were busy spending the money, so the women were the ones that the marketers targeted in the era of consumerism that predated the rise of feminism (Kacen, 2000, p. 347). This all changed in the post-modern society, as consumption became a part of everyone's identity, both male and female. In the post-modern society, according to Kacen (2000), people constructed their identity with brands, figuring out who they are by the brands that they buy. The person's identity became fluid, as the person might go from being a punk, preferring to buy products that would go along with that image, and then the same person might choose a look that is more of a preppy image, and buy products that suit that image. Brands play a part in this identity construction, as well, because certain brands are popular with different segments of society, so choosing certain

Monopolies Essay Example | Topics and Well Written Essays - 500 words - 1

Monopolies - Essay Example However the others were considered of poor quality by Microsoft. There then arose a question of whether Microsoft had altered its applications to favor internet explorer over other browsers. The defendant was also accused of forming restrictive licensing agreements with other original equipment manufacturers which was a bad code of conduct. In its defense, Microsoft argued that Microsoft windows and internet explorer were combined so as to enhance innovation and competition therefore, the two became a same product which facilitated consumers to get all the benefits of internet explorer free of charge. This was contrary to the plaintiffs who argued that the browser was a distinct product which did not require combination with the operating system. Monopoly market structure is a market in which there is a single supplier of a product (Boyes & Melvin, 2008). The firm is referred to as a monopolist and its product has no close substitutes. Boyes & Melvin further pointed out that† a firm that has monopoly power is a price maker rather than a price taker† (p.567). The characteristic here is that it sets the price of the product and the marginal revenue will be less than the prices for monopolies firm hence the downward slopping demand curve. Moreover, in this case, Microsoft altered internet explorer to be favored and to be socially preferred by many users over other browsers in the market. Consequently, when a single big firm’s product become socially preferable than those of its competitors, it is known as natural monopoly (Goodwin et al, 2008). The market structure of a pure monopoly is characterized by one seller in the market, the goods being sold have no substitute and there are barriers of entry into the market by other firms. In the stated case, Microsoft’s products were highly differentiated and this strengthened its market power and economic profits increased due to the imperfect

Non-current assets Essay Example | Topics and Well Written Essays - 1250 words

Non-current assets - Essay Example The paper will look at two standards by the IAS, which are the IAS 16 and IAS 38 regarding non-current assets. This paper attempts to analyze the standards that IAS sets regarding accounting of non-current assets. It sets these guidelines on how organizations and companies should handle both tangible and intangible non-current assets. IAS is responsible for setting international auditing standards so that they act as guidelines for auditors and accountants to follow regarding non-current assets (Kirk, 234). Each part in the accounting profession has its own standards as a guide on how to handle it. For instance, handling plant and machinery under IAS 16 is different from dealing with intangible non-current assets under IAS 38. This creates a form of independence when dealing with various aspects in the accounting process. IAS standards on Property, plant, and equipment IAS 16 defines handling of property, plant and equipment which is different from IAS 38 which defines handling of in tangible assets in financial statements. Property, plant and equipment are all fixed tangible assets; therefore, adoption of a common method when dealing with them in the accounting process. ... The first guideline is their initial measurement which entails the initial cost and all other cost necessary to make the assets ready for use. It also includes capitalization of interest costs. The other step is the subsequent measurement of the fixed assets which entails depreciation and disposal of assets (Kirk, 234). The rule of Impairment and disposing of the assets indicates how to dispose of such assets in terms of the guidelines. Accounting standards regarding these three assets provides a guideline on how to classify long-lived assets that are held for sale and those held for use. Long-lived assets that are meant to be held for sale do not depreciate; therefore, their presentation should be separate. They should be placed separately in a statement of financial position. This is because they are not in the business for use, rather they are for sale; hence, their selling price does not fall. The accounting standards provide rules and formula regarding how to measure this type o f fixed assets (Kirk, 250). The other guideline regarding plant, property and equipment is the discontinued operations for those assets held for sale and those held for use. The impairment test and recoverability test give rules regarding recoverability of fixed assets and those that are not recoverable. There are also rules on the impairment loss on plant, property and equipment under the accounting standards. The standards provide for impairment loss that can be reversed, and that is unversed. This indicates how these types of losses are recognized when preparing financial statement (Alexander, 359). The standards also give conditions on when such losses cannot be reversed, for instance in situations where there is an increase in the fair value of plant,

Pharmacy Essay Example | Topics and Well Written Essays - 1500 words

Pharmacy - Essay Example Of course, there are many other formulations that I could become as a drug: powder, gel capsules, even nasal spray. But the most common types are the tablet and suspension forms. All of the equipment I come into contact with between now and when I am ingested by a patient must be clean and sterile. I must be sealed away from outside contact, so that I do not become contaminated with debris, bacteria, or other microscopic particles. Every canister, tank, mixer, pipe, hose, and bottle has to be sterilized completely. Many of the items I will come in contact with have been steam-sterilized, because using clean steam prevents me from being contaminated by the cleaning products themselves. I am pumped from a delivery vehicle into a tank to be stored at the manufacturing site. The tank I am in is only one of many in the tank farm at this pharmaceutical plant. In order to assure safety, the tanks are sterilized before I am pumped into them through an airtight transfer pump. After a period o f storage, I am then pumped from the storage tanks into a make-up and boot tank, and then from there into a reactor tank to start the manufacturing process. The plant keeps very careful track of the arrival times of all the ingredients for their products, including me, in order to ensure that nothing is stored too long. They also have to keep track of the temperature and humidity of the storage areas, because some ingredients cannot be exposed to temperatures that are too high or too low, and some cannot be exposed to humid air in case they react with the oxygen. Some chemicals must even be kept away from contact with the oxygen in the air, because they will oxidize and change form. At the start of the manufacturing process, I am weighed with great precision, as are the excipients that will make up the tablets or suspension with me. The weights of the various ingredients will depend on batch size and dosage amount, and all of the weights are recorded for quality assurance. Each of t he ingredients are all weighed individually in separate sterile canisters because having the right amounts of each ingredient is vital to the properties of the final product. The reactor mixes us together in the right proportions, according to the size of the batch and the dosage amount of the final product. Depending on my properties and the properties of the other ingredients in my mixture, the next steps will vary. If I and the other active and inactive ingredients are dry powder that can be mixed together smoothly, we can be sent on to the next step of tablet pressing without further processing. If the right mixtures cannot be obtained through simple stirring in the reactor, there are two other possibilities to create the necessary homogeneity of the mixture for the creation of tablets. These possibilities are wet granulation or dry granulation. If I can be mixed with water, the manufacturer will use an aqueous solution, as that will be safer; if, like many pharmacological chemi cals, I cannot come in contact with water without reacting to it and degrading, I will be mixed with a solvent solution. If I go through wet granulation, a liquid binder-adhesive will be added to me in the reactor, where we will be thoroughly mixed together. Using the correct amounts of the liquid binder-adhesive is vital, because if too much of the liquid is added to me, my granules will come out to be too

Buddhist Discourses Essay Example | Topics and Well Written Essays - 250 words

Buddhist Discourses - Essay Example Firstly the conversation centers upon external and internal anxieties experienced by a person. Buddha says that the anxiety about something non-existent externally can be overcome by the realization that the possession of things is impermanent (Early Discourses, 110). What mine was before is not certainly mine now. If a person understands this truth, he will have no external anxiety. Also a person who thinks he will become a permanent thing and remain so for eternity after death becomes anxious if he is exposed to the dhamma as taught by the tathagata or his disciple. The teaching eliminates all standpoints of speculative views which involve obstinacy, favoritism, and possessiveness, produces an effect of calming of all dispositions to actions, forsakes all attachments, and destroys craving (Early Discourses, 110). The teaching is for nibbana, the complete freedom from suffering. This internal anxiety could be overcome if the person does not think he will be permanent and then expose himself to the teaching. At the end of this part of the conversation, the disciples do not seem to continue their quest for solution to the anxiety. Buddha simply starts asking questions about permanency of things. It was not clear how the internal anxiety could be overcome, meaning the process of removal of the anxiety.

Analyse the author's implicit and meaning of the text. Comment on the Assignment

Analyse the author's implicit and meaning of the text. Comment on the way He uses language to make his point and whether or not is an appropriate way of starting his view - Assignment Example He believes that he belongs to no community as well as all of us. Therefore, nobody should abide by the word community. He suggests that even one should be cautious even being called a family. He suggests that media uses the word communities a lot and even in a terrorist act and other criminal issues. This makes people be in fear of the communities they live, and they need re-assurance. He further presents a man in his street that runs a â€Å"community association." Nobody is joining this association. The man became the sole member and the leader of the association, and he purport to represent them. This after being advised that it is easy to negotiate with self-appointed leader than with many persons with their distinct concerns. He has a view that it is fictions when people speak about the faith, local and ethnic communities. He argues that the reason of using communities is to diminish the individuality. This means that people are not independent but are under a bracket termed as community. This easily allows those in power to rule over or achieve their self-interest through the community. He argues that the government has categorized its people by type just as Marxism did by class. He suggests this is easily achieved through the community, but it is wrong. He cites the example of union leaders who are minority negotiating the salaries of the employees as one-way leaders achieve their self-interests. Clubs and universities in Briton is part of the large part of trying to pass their bureaucratic leadership and diminish the British spirit individualism. He refers to George Orwell and Aldous writings that demonstrate inhumanities of societies according to the imposed templates on them. He further suggests that the government is curtailing liberty through their chants of free people as a unit in a collective communal way. All this is for their leadership advantage and quest for power. He notes the

Thunder from the Sea Essay Example for Free

Thunder from the Sea Essay The story of Joan Hiatt Harlows Thunder from the Sea (2004) revolves around a 13 year-old boy named Tom Campbell and a dog-called Thunder. Tom has been an orphaned since the age of 3, which is why he has never experience belonging in a family. On the other hand, Thunder was lost at sea during a very bad storm and it was during this time of need that Tom rescued this dog. Tom and Thunder were able to find companionship with each other. Tom experienced having a family with the Murray household and a loyal friend with Thunder. It was through these relationships that he was able to find the sense of acceptance and belongingness that he never experience in the orphanage.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   â€Å"No man is an island.† This line is indeed true especially when you used it in the context of this book. Tom Campbell is like anyone else also needs other people in order to make their lives complete. Almost everyone have to establish a certain connection with others in order to know more about themselves. It is through the very idea of caring for someone, being loyal to other people and most especially loving your fellow individual that one can make sense of the world. The mere idea of feeling these emotions makes a person realized that he or she is indeed a human being that is capable of giving a part of his or her life to other people and sometimes that is what it takes for a life to be meaningful.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   This heart-warming story emphasizes the importance of finding lifes meaning through the influence and aid of others. Someone does not have to be a dog-lover in order to appreciate and see the lessons underlying this book. It approaches the idea of loneliness, loyalty, and love in a way that almost all people could relate to. Harlow succeeded in writing a piece of literature that tackles an important aspect of a persons life especially during this present time that the society is taking for granted how essential it is to establish meaningful and long-lasting relationships.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Thunder from the Sea is a good read that will take its readers to an exciting journey of finding lifes meaning. It will also invokes its readers to re-think and re-assess the relationships that they have or need to have as well as their over all outlook about their lives. Reference Harlow, J. H. (2004). Thunder from the Sea. U.S.A: Simon and Schuster Childrens Publishing.

The Seven Unique Features Of E-Commerce Essay

The Seven Unique Features Of E-Commerce Essay Assume that, you had bought two products through online. Explain why you choose to buy that product through online, pros and cons of online purchase. Introduction What is E-commerce? E-commerce is a business model or a larger business model that allows companies or individuals through the electronic network and is usually the type of business segments in the internet. E-commerce is also can do business it can provide a new way to companies of all sizes to create new relationships and extended relational operations on the basis of the now, website and network activity. E-commerce levels the playing field for any organization that chooses to participate, small or large. In addition, also can buy or sell goods and products on the internet. Can any trades through electronic measures can be the electronic commerce, and without using any paper documents, electronic commerce is subdivided into three categories: business to business in B2B, business to consumer or B2C and consumer to consumer or C2C. E-commerce includes a full variety of pre-sale and customer service activities. What is B2B (Business To Business)? B2B is a type of between manufacturers and wholesalers or wholesalers and retailers. Business to business refers to the business between the company rather than the company and personal consumption. What is B2C (Business to Customer)? B2C is also the trading between consumers. For example, to promote their products or services to the users directly between business and transaction. What is C2C (Customer to Customer)? C2C is the promotion and interaction between benefit and customer. Customer to customer is to provide location and talk to people, exchange and trading with other people. Answer of Question 1 Every one of e-commerce has become a household name. There are known to have different calculations or e-commerce tools, we should learn our computers, using mobile Internet terms, and it is readily waiting for your attention. A main feature of e-commerce through commercial transactions is making money on the Internet. Today, you do not need to travel to meet people in the e-commerce retailers, manufacturers and consumers a whole new world. People have come to realize, the need for it, and start to enjoy it. I chose www.ridefourever.com website. In E-e-commerce e-commerce site types are 7 unique features, such as the Ubiquity, Global Reach, Universal Standards, Richness, Interactivity, Information Density, and Personalization. Seven Unique features of E-commerce Ubiquity- The traditional business market is a physical place, access to treatment by means of document circulation. For example, clothes and shoes are usually directed to encourage customers to go somewhere to buy. E-commerce is ubiquitous meaning that it can be everywhere. E-commerce is the worlds reduce cognitive energy required to complete the task. Global Reach- E-commerce allows business transactions on the cross country bound can be more convenient and more effective as compared with the traditional commerce. On the e-commerce businesses potential market scale is roughly equivalent to the network the size of the worlds population. Universal Standards- E-commerce technologies is an unusual feature, is the technical standard of the Internet, so to carry out the technical standard of e-commerce is shared by all countries around the world standard. Standard can greatly affect the market entry cost and considering the cost of the goods on the market. The standard can make technology business existing become more easily, which can reduce the cost, technique of indirect costs in addition can set the electronic commerce website 10$ / month. Richness- Advertising and branding are an important part of commerce. E-commerce can deliver video, audio, animation, billboards, signs and etc. However, its about as rich as television technology. Interactivity- Twentieth Century electronic commerce business technology is called interactive, so they allow for two-way communication between businesses and consumers. Information Density- The density of information the Internet has greatly improved, as long as the total amount and all markets, consumers and businesses quality information. The electronic commerce technology, reduce the information collection, storage, communication and processing cost. At the same time, accuracy and timeliness of the information technology increases greatly, information is more useful, more important than ever. Personalization- E-commerce technology allows for personalization. Business can be adjusted for a name, a persons interests and past purchase message objects and marketing message to a specific individual. The technology also allows for custom. Merchants can change the product or service based on user preferences, or previous behavior. The seven unique features have its own function but also have disadvantages in this website. The seven unique features most in this website is no problem, but the information density has some disadvantages and its one of the seven unique features. Information density is the function of information to the Internet and the web site can be the total amount and all markets, consumers and enterprise quality information. At the same time, accuracy and timeliness of the consumers can know this website information. But the website in this regard is poor because of its language in this website is insufficient and even only a language so easily lead to consumers in the shopping website will be very troublesome, even if consumers do not understand the language may be to give up on this website shopping and even lead to this site is less and less people browse or buy. For example in this web site to buy clothes but the browsing process found that consumers choose clothes are not enough data to t he customer cannot be assured to buy, so in this aspect of the problem should be properly modified and solve this problem. For example, should first website have a variety of linguistic choices can make different national consumers easily understand this website information easy to buy the goods. Then on the items, such as this site is selling the clothes should be more detailed write the item price, style, color and size, so that the customer more easy to buy. In addition, whenever new styles of clothing in the website promotion to the customer know. Conclusion In e-commerce we can see that these seven kinds of unique features in the function of the website. The seven unique features function is very important if no one function will make your site there are loopholes in the website, so an indispensable. The seven unique features were Ubiquity: available everywhere and all the time; Global Reach: users or customers can obtain total enterprise electronic commerce; Universal Standards: is shared by all countries around the world standard; Richness: complexity and message content; Interactivity: which allows for two-way communication between businesses and consumers, provide the quantity and quality of information in general; Information Density: to all market participants; Personalization: for marketing message to a specific person, by adjusting the news of interest, the name of a person and past purchases. E-commerce technology, allows customers to learn more and more consumers, more efficient use of the information. Online businesses can us e this information to develop new information asymmetry, enhance their brand products, to charge higher prices, quality service and market segmentation of many groups, each of the different prices.

Risk Assessments Within The Criminal Justice System Essay -- Criminal

Risk assessments are an essential component to the criminal justice system because without them jails and prisons could not perform their duties and would not be as efficient. Risk in principle is a fact, yet danger is an issue of perception, how much will society tolerate. People tolerate a lot of risks without noticing the dangers. Risk assessments let us know what is not easily noticed though they still have some blind spots where studies need to be done. The ways that community correction agencies use risk assessments, the elements that are risk assessed, and strengths and weaknesses of most risk assessments will be discussed. Uses of risk assessments There are various risk assessments that exist. For example, there are different ones for pre-sentencing, parole, and in-between that time with prison and jail time served for appropriate measures to be determined. These will help the offender get what is needed based on the severity of their needs. For instance, the specific treatments and/or programs for rehabilitation to occur the offender will need to notify the right authorities and the way to do that is filling out an assessment of risk. The first issue to be tackled for an offender is a drug referral if needed since other interventions and programs will not have much effect if the offender will not retain them due to drug use. These treatment facilities communicate with the probation officers. They keep them informed on the offender’s progress and/or issues the offender has. The lower risk offenders are eligible for treatment programs. (Loftus, lecture) There are more opportunities that apply to lower risk offenders, not just treatments and programs. Only lower risk offenders in jail have a chance to volunteer for... ...ing education. The weaknesses that were touched upon were social groups, gender gap, and racial influences. Works Cited Gould A. Laurie, Southwest Journal of Criminal Justice, Vol. 6(3) (2010), P. 267–285, Perceptions of Risk, Need, and Supervision Difficulty in the Community Corrections Setting, University of Texas at Arlington, http://www.jstor.org/. Accessed: 9/10/11 Loftus Rebecca PH.D., Lecture on risk assessments, Fall 2011, Probation and Community Probations. Noted: 9/6/11 & 9/8/11 MILLS F. JEREMY AND KRONER G. DARYL, Criminal Behavior and Mental Health Vol. 16 (2006), P. 155–166, The effect of discordance among violence and general recidivism risk estimates on predictive accuracy, 1Bath Institution, Bath, Canada and Carleton University, Ottawa, Canada; 2Pittsburgh Institution, Pittsburgh, Ontario, Canada, http://www.jstor.org/. Accessed: 9/10/11

Stags and Hens - personal performance review :: Drama

Stags and Hens - personal performance review Drama coursework!!! The practical piece that I performed on 16th December ‘04 was a play written by Willy Russel called ‘Stags and Hens’. It was written in 1978 and is set on a hen/stag night in Liverpool for what was at that time, the present - reading the play, however, and comparing it with the portrayal of present day Liverpool I noticed no obvious changes. Another play that I have studied is ‘Blue Remembered Hills’ by Dennis Potter. This play was written in and is set in the heart of Devon in WW2 year 1943 with a cast of 5 boys and 2 girl characters; all of which are children around the age of 7. Composed for a cast of 5 female and 5 male characters, ‘Stags and Hens’ highlights a variety of ways in which men and women differ from each other. The two scenes consist of several location switches, initially between the male and female WC rooms at a nightclub - followed by further ventures into the nightclub itself. When reading a male section, I noticed how there was little hesitation from the majority of characters when it came to leaving their vomiting friend in the WC, whereas the ladies refuse to leave their friend behind while she does her make-up. This points out how men and women can react differently to a situation; here, whilst the women are showing sensitivity and care for each other’s feelings, the men appear thoughtless and self-indulgent. Links similar to this one are made throughout the play, and although not always noticed at first, usually become clear with hindsight. Initially, the male and female characters are kept separate from each other, but as the night progresses they mix up more; this gives the impression of awareness and organisation at the beginning, gradually smudging into a drunken confused muddle towards the end. It is a common feature of modern society for men and women to form separate alliances, and is often encouraged by gender division in everyday things. Things that aren’t even considered like going to the toilet; it is seldom that anyone will see a unisex toilet in public. Also, it is seen as normal for men to play football and drink beer, and women to wear make-up and drink ‘girly’ drinks. This is accentuated in ‘Stags and Hens’ on several occasions. Both genders make referrals to each other putting these stereotypes into place: girls – ‘Y’ can bet they’ll be pourin it down them like it’s goin’ out ‘a fashion.’ (Talking about the men) guys – ‘A woman has responsibility to her feller.

The Right Of Autonomy :: essays research papers

The Right of Autonomy   Ã‚  Ã‚  Ã‚  Ã‚  Political philosophy is the philosophy of the state. A state is a group of people who have supreme authority within a given territory or over a certain population, according to Wolf. Authority then, is the right to command and the right to be obeyed which is different from power. Power in Wolff's terms, is the â€Å"ability to compel compliance.† Moral autonomy is â€Å"a submission to laws which one has made for oneself.† Wolf believes that there is a problem between authority and autonomy. Autonomy overrides the importance of authority. He also thinks that classical democracy fails to be a solution to this problem.   Ã‚  Ã‚  Ã‚  Ã‚  An autonomous person is not subject to the will of another. This is thought to be the primary obligation of man. In political philosophy, autonomy is a refusal to be ruled, and authority of the state is the right to rule, there is a conflict. If a man fulfills his obligation to autonomy, then he will go against the claim by the state to have authority over him. Wolf states, â€Å"He will deny that he has a duty to obey the laws of the state simply because they are the laws.† This is the major conflict with political authority. Some philosophers believe that a solution to this problem is the concept of democracy.   Ã‚  Ã‚  Ã‚  Ã‚  This argument says that if men rule themselves then they would be both the law givers and followers, combining autonomy with authority. â€Å"His obligation to submit to the laws stems not from the divine right of the monarch, nor from the hereditary authority of a noble class, but from the fact that he himself is the source of the laws which govern him.†   Ã‚  Ã‚  Ã‚  Ã‚  Wolf doesn't think that it fully solves the problem between authority and autonomy. A unanimous direct democracy is the closest to resolving the conflict, yet in only exists in theory. Representative democracy seems to solve the problems of unanimous direct democracy, but it too, has its problems. Its problems lie in the fact that it is incredibly difficult for everyone to be truly represented. If one is not, then their autonomy is sacrificed. Another possible democratic solution is majoritarian democracy. The problem with this comes with those people who are in the minority. The minority voice is limiting their autonomy because they are obeying something that they do not will. Here Wolf again shows democracy fails to solve the problem between authority and

Cohesion and division in Australia during World War 2 Essay

Unlike the First World War which caused large social divisions within society over conflicting issues, Australia’s involvement in the Second World War served to create a sense of cohesion rather than division. There was a sense of national unity to provide support for Britain at the beginning of the war and as the threat of a Japanese invasion increased, so did this sense of unity. However as the war progressed, Australia became more independent from Britain and was prepared to act in its own interests to protect Australia. The general sense of cohesion was challenged by divisive elements such as the treatment of aliens, increase in federal power and the presence of the United States and Americans in Australia. However the inspiring leadership of John Curtin, public perception towards the war and the influence of government propaganda created stronger cohesion and unity despite the divisive factors. Australia’s initial involvement in the war was due to a sense of loyalt y to Great Britain as a member of the British Empire. Therefore when Great Britain declared war upon Germany on September 1st 1939, so too would Australia two days later. Supporting Britain in the war was viewed as Australia’s ‘melancholy duty’ and although it helped Australia’s economy and provided jobs for many as well as uniting many patriots including former and current soldiers, it also caused divisions in public opinion in regards to the war, especially those concerning conscription and opposition to the war. These members of society believed that the war was constitutionally wrong. Many of these divisive opinions were only present during the ‘phoney war’ period when Australia was not directly threatened by the war. However the fall and occupation of Singapore by the Japanese in 1942 as well as the failure of the Singapore Strategy, coupled with the bombing of Darwin destroyed any significant opposition towards the war and was a major turning point for Australia. The fall of Singapore and the threat of the Japanese invasion showed Australia the reality of the war and silenced many of the voices which previously spoke out against it; voices which now recognised the necessity of conscription and the war effort in order to defend Australia. Prior to the war, there was a constant debate and split opinions over the issue of conscription in the government. The new threat of the  Japanese enabled John Curtin to convince the various government parties, along with the majority of Australia’s population to accept limited conscription with an ease that would have been impossible during the First World War in order to defend Australia against the direct threat of the ‘Yellow Peril’. Curtin’s moderation and leadership served to unite Australians in a way which previous governments had failed in this time of crisis ‘It is now work and fight as we have never worked and fought before.’- John Curtin 1942. The threat of the Japanese also helped Australia realise how isolated it was in the pacific region and the marginal extent of Britain’s capacity to defend it given their preoccupation with the war in Europe. Curtin thus decided that Australia needed to place its own safety and defence first, putting Curtin at loggerheads with Churchill. Churchill wanted Australian soldiers to continue fighting in the war but Curtin insisted on their return to Australia, succeeding after much resistance from Churchill. Australia took one step further and accepted the Statute of Westminster Adoption Act in 1942 which enabled them to adopt their own foreign policy. Australia would then rely heavily on America instead of Britain because of how more readily equipped they were to deal with the growing tensions in the pacific region, resulting in a strained relationship between Great Britain and Australia. However this new alliance with America would cause strains and divisions in Australian society as the American presence increased in Australia. Australia’s new dependence on America resulted in a large influx of American soldiers to Australia and while Australian society was initially accepting and welcoming of their unorthodox culture, behaviours and morals, this quickly turned to contempt and created an unsavoury relationship between Australians and Americans whom they saw as being a bad influence on the women and youth of Australia. Australians regarded Americans as being, â€Å"overpaid, oversexed and over-here†. However, while this had the possibility to cause influential divides in society, Australians realised the necessity for the American presence in their country and the security they had provided, overruling any irritation felt towards them. The Australian war effort in the pacific regions had also served to amplify and fuel the ‘Anzac legend’ creating a national sense of pride and unity during the war. Australia’s involvement in the Second World War thus served to create a more independent Australia, in charge of its own  policies and decisions in foreign affairs, creating cohesion within society. Along with the American presence, Australia’s treatment of aliens also had the potential to cause considerable divisions. When war broke out, many foreigners, mostly Germans, and other ‘dangerous persons were made to prove their identity and placed under strict rules which they had to adhere to in order to live in Australia. However it was not the government, but the Australian opinion towards foreigners which threatened social divide. Come 1939 and the War, Australia still had a strong racist tinge and there was widespread unease and hostility towards many foreigners. The groups most subject to this racism were German Jews, others escaping the Nazi regime and Asian immigrants. Australians did not trust them and questioned their motives. Distinctions were eventually made between ‘refugee’ aliens and ‘enemy’ foreigners but their reaction to the arrival of foreigners in their country threatened the cohesion and peace in society by creating a divide between immigrants and Australians. Australia’s involvement in the war also affected the economy domestically with the need for rationing being introduced, as well as an increased female work force. As the war progressed, the governments control on the activity of Australians increased as the demands for the war increased. Queues began to form for commodities and shortages began to develop. The amount of fuel to be consumed by the public and business were also stringently controlled and the rationing of household commodities would begin in 1942. However Curtin and his government believed that the effects of the rationing would only serve to increase the resolve and discipline of Australians during this period of conflict, uniting them to work together as a nation to overcome these difficulties, deepening the cohesion within society and encouraging a more thorough commitment to the war effort. â€Å"The great challenge today is to each individual – not to the other fellow – to forget self and order his or her life for the welfare of the nation.† – John Curtin However there were some divisive elements to the rationing as black market goods such as liquor and other luxury goods flourished. Few Australians did not frequent the black market and to the trade union movement this fuelled their belief that sacrifices were not being made equally. Despite this, there was an overall sense of unity through the rationing as Australians banded together to overcome the tumultuous times. The increased female work force was due to  the ever growing amount of men being drafted into the military, creating vacant positions in various industries, with thousands working in factories making munitions. Others joined the Women’s Land Army which aided in overcoming serious labour shortages around the nation. These women played an important role in agriculture an d other industries, allowing many men to be available for active service. The presence of the women at work showed a strong ‘team-spirit’ in Australia to work together to support the nation creating a strong sense of cohesion. There was also possible division over the issue of the Federal government being granted more power to control the affairs of the nation. The demands of the war would affect every sector of the economy and it became necessary for the government to take more control with the most significant change being the taxes. In order to fund the war, the Federal government had to impose various taxes which would have been unheard of during times of peace. The number of taxpayers increased considerably from 800 000 to two million, which meant people with extremely low incomes were required to pay taxes. However the surprising part of this change was the lack of opposition to it. Under the National Security Act of 1939, the government was allowed to pass regulations without the government which allowed them to have significant control over Australian industry and the activities of Australians during the war. In normal circumstances there would be great resentment and resistance to the Federal governments increase in power but because of the war, Australians understood the unavoidable need for such a step to be taken. There was a growing public sense of the Federal government’s importance and in this way; it created an expanding sense of national identity with the Federal parliament becoming an important symbol of national unity. Therefore any divisions caused by the increase in power were merely superficial and insignificant when compared to the cohesion created because of it. Government propaganda also played a vital role in creating cohesion within Australia’s society during the war. Groups which opposed the war effort were banned such as Communists and Jehovah Witnesses in order to convince the public of the necessity for war. The internment of people of certain nationalities also helped to quash anti-war views. There were also many ‘anti-Japanese’ and ‘anti-German’ campaigns and posters. Such censorship and propaganda served to unite the public to support the government’s war effort, exploiting the patriotic nature of Australians and  sense of duty in order to garner support. Finally, Australia’s overall sense of unity and cohesion can be credited to the immense work of John Curtin during his tenure as Prime Minister of Australia during the Second World War. His decisiveness and inspirational leadership were the driving factors behind Australia’s war effort and the transition made from being Britain’s subordinate to becoming an independent nation. His changes in foreign policy and decision to bring the troops home united Australians and provided them with a new sense of identity and pride and he quickly gained support from a united nation. Australia’s involvement in the Second World War was a journey filled with many potentially divisive elements. However they were ultimately outweighed by the more cohesive ones. Australia was united through a sense of patriotism and national pride to support the war that was unseen during the First World War. The fear of the Japanese invasion created a more independent nation with a stronger international presence. The war also sparked the beginning for an influx of refugees into Australia, transforming it into a more multicultural nation. Australia’s involvement in the Second World War ultimately resulted in unifying Australians with a new and dynamic national identity.

Angel of Death Dr Josef Mengele Essay

During world war two, the holocaust affected millions of lives, especially those of the twins and the children at Auschwitz, who were brutally experimented on with no pan management while under the supervision of Dr. Joseph Mengele. Many died and the rest lived the rest of their lives with severe medical problems. Dr. Mengele was not a simple creature though. The creation of the Nazi angel of death began as a child in a cold distant family, and gradually evolved with his enrolling into college, joining of his political party and the military. Both of which were vital for his desire to perform his twisted experiments. Experiments that were so cruel and brutal he was forced to flee Germany after the war for fear of being put to death himself. What Joseph Mengele did at Auschwitz left his victims scarred both mentally and physically for the rest of their lives. Dr. Joseph Mengele was born to Karl and Walburga Mengele in the Bavarian village of Gunzburg. He was the eldest of three children his two brothers were Alois and Karl Jr. ife at home was not a gentle loving embrace by any means. From all accounts Karl Mengele was a harsh and distant man. One who’s main concern in life was the pursuit of his fortune. Karl owned a factory that manufactured farm equipment. He was never home for he was so preoccupied with work. All this left Walburga with the children and she ruled her home with a cold iron fist, the boys were not allowed and form of pleasure at all they led strict Roman Catholic lives just as their parents did, days filled with hard labor and prayer. Posner & Ware). This cold and emotionally withdrawn life at home is most likely what caused young joseph to defy his father’s wishes of taking over the family business to enroll in college at the University of Frankfurt. Although not an especially outstanding student as far as academics or his marks in school, he was considered to be a bright young man and a very punctual student. It was in the subjects of medicine and the arts of healing that joseph found he infatuated with. But also he held a great interest in eugenics and genetics, specifically genes that caused human deformities and ‘imperfections’. It was also at this time that he became involved with the idea of the unworthy life theory. in 1934 he was awarded a Ph. D. for his thesis ‘racial morphological research on the lower jaw sections of four racial groups. By 1935 Josef had already delved deep in to the world of politics and the military intrigue of the day. In 1937 he was recommended for and received a position at the third Reich institute for heredity, biology and racial purity in Frankfurt. Here he met the man who would become his mentor, surrogate father and the one who would be the inspiration for his most vile acts professor Otmar Freiherr von Verschuer. (Astor). By 1938 Josef, twenty-eight years of age, at the time held positions of enormous power within the Nazi party but that year it all changed when he joined the Waffen SS. Hitler’s elite killing squad, and with his joining of the Waffen SS he was assigned to be the head of Auschwitz the German hell. Mengele quickly made his blood lust apparent when he ordered one thousand gypsies gassed the day after he arrived. But above all his favorite job at Auschwitz was the sorting of the new arrivals. He would be at the train every day in hand tailored freshly pressed uniforms and the while gloves that he would become infamous for. He would walk down the line as the inmates were herded off the cattle cars and with his riding crop he would direct them right or left. Those who were sent to the right were to be put to death immediately. The ones sent to the left were to be made to do slave labor and be animals for the doctor’s experiments. His favorites were the children, especially the twins. Mengele regarded twins higher than all others. The other officers who would aid Mengele in the sorting were given special orders to search for twins. They were even given special quarters away from the rest of the inmates. (Astor). These twins were afforded many niceties that the other inmates would only dream of such as they were allowed to keep their hair, their own clothes and often times given candy; the twins were even provided with medical treatment should they become ill. No one would dare let one of the doctors become overly ill or die from an illness. (Kor). He was infamous for going into a flurry of rage if one of his twins were to die. What was in store for the twins that he loved so much were what can only be described as the most appalling and inhumane events that occurred in the second great war. Some of the tests were fairly run of the mill, questionnaires, and height and weight measurements. Standard procedure for any doctor but the worst was yet to come. Mengele was known for many of his experiments. Just a few of his favorites were those which involved eye color, resistance to disease and live human dissection. Mengele would find pair of twins which he believed was suitable for his desired experiment. (Lagnado & Dekel). The eyes for example one twin would be a control for the experiment. The other would have a colored dye injected into their eye. No anesthesia was ever involved; the insertion of the dye often times would result in nasty infections or complete blindness. Others involved live human dissection of infants and very young children. He carried out twin-to-twin transfusions, stitched twins together, castrated or sterilized twins. Many twins had limbs and organs removed in macabre surgical procedures, performed without using an anesthetic. He also did multiple sex changes and tests to see if twins needed each other to survive one would be placed in isolation with little or no food and no clothes. As part of his normal practice he did not use and sort of pain numbing agents in any of his procedures. While Dr. Mengele was doing these dissection’s he would often try to remove organs and observe the effects that this would have on the live subjects. (Bulow). Although many Nazi doctors justified Mengele’s experiments as scientifically relevant. But they were no more than a sick psychopath acting out his most hellish desires and fantasies. It was a commonly known fact that Dr. Mengele kept trophies from his experiments. He would keep the eyes from his experiments and pin them on the wall of his office much as one would pin a butterfly to a corkboard to be admired later. Also he had a lampshade which he made with his own two hands which was crafted out the ears of the children he had experimented on. Among other things Mengele often tried gene splicing or genetic alterations on his patients. He would do so be transfusing large amounts of blood or other bodily fluids from one subject to another or subject them to massive amounts of radiation. Other methods included but were not limited to exposure to noxious gases or other types of chemical weapons. Dr. Josef Mengele fled from Auschwitz on January 17th, 1945, as the Soviet army advanced across the crumbling German Reich towards Berlin. During the first few years of the post-war era, Mengele remained in hiding on farm near his native Gunzburg. He assumed a fake identity, and worked as a farm hand, keeping informed of events through secret contacts with old Gunzburg friends. Incredibly, he at first aspired to continue his career as a research scientist, but it became increasingly apparent that the Allies were not going to let a notorious war criminal such as he simply resume the life he had enjoyed prior to the war without paying for the crimes he had committed during it. Mengele finally decided that he was no longer safe in Europe and escaped through Italy to an ocean liner bound for Argentina. Kor). Mengele arrived in Argentina in 1949, a country that was ruled by the popular dictator Juan Peron. The right-wing ruler had already cultivated a friendly relationship with Nazis in Europe, as well as with those who lived in the German expatriate community in Argentina. Mengele was able to slip unnoticed into such a setting with ease and had soon established a network of Nazi devotees who were willing to help him assume a new identity in South America. Mengele was to spend the next thirty years on the run from international authorities. While he received aid and shelter from the neo-Nazi network in Argentina, Paraguay, and Brazil, Mengele was also inadvertently assisted by a lack of commitment on the part of the West German government to bring the Angel of Death to justice, and a similar lack of commitment on the part of the United States Justice Department. (Astor,137)The Israeli government had no such lack of commitment to his capture, trial and execution. In fact, Israeli agents were close to seizing Mengele on a handful of occasions in the early-to-mid 1960s. However, international uproar over Israel’s kidnapping of Nazi war criminal Adolf Eichmann from Argentina in 1960, and pressing security issues involving hostile Arab states, sidetracked Israeli efforts to pursue Mengele. (Kor). While Nazi-hunters such as Simon Wiesenthal continued to press for Mengele’s capture and execution, the notorious Nazi doctor seemed to drop off the radar screen of most international governments. Interest in his case was suddenly reinvigorated when, on January 17, 1985, a group of Auschwitz survivors returned to the death camp to memorialize friends and family who had perished there. A week later, many of the same survivors gathered in Jerusalem to try Mengele in absentia. The event was televised around the globe, and for four consecutive nights, the airwaves were filled with images of survivors recounting their gruesome, barbaric treatment at the hands of Josef Mengele. Within less than a month, both the United States Justice Department and the Israeli government had announced that the case of Josef Mengele was officially reopened and strategies were redrawn to bring the Nazi doctor to justice. (Kor). However, these fledgling efforts were stopped in their tracks when, on May 31, 1985, West German police raided the home of Hans Sedlmeier, a lifelong friend of Mengele’s, and his contact person in Europe. The police seized several letters from Mengele and other German expatriates living with him in Brazil, and Brazilian authorities were immediately notified. Within a week Brazilian police had identified the families that had harbored Mengele, and through them were able to locate the grave where Mengele’s body had been buried after a drowning accident in 1979. Forensic tests on the skeletal remains confirmed that the body was indeed that of Josef Mengele. (Posner & Ware). Survivors of Mengele’s treatment who had longed all of their post-war lives to confront this cruel and demonic man denied that this could indeed be him. â€Å"Time’s essay said Mengele ‘defiled science†¦ He defiled Germany’†. (Astor,278. ). Many still live for the day when they will be able to extract justice for their suffering from the man who was responsible for so much of it, both during and after the war. At last, Mengele has escaped earthly judgment through that act over which he sought to wield total control of death itself. The horror of the angel of death was still felt and lived on a daily basis long after his death and after the war had ended. Almost all of his victims that survived his atrocious deeds lived life with ever physical and sometimes psychological disabilities. Dr. Josef Mengele was truly the living incarnation of the angel of death his deeds are unmatched even today as some of the worst event to ever occur in human history.

Advanced Corporate Reporting

A reporting entity is required to prepare its financial report based on IASB framework and it is so useful for different types of users to evaluate the financial performance of the reporting entity and make suitable decisions. In this essay, the usefulness of conceptual framework in preparing of financial report will be discussed. And also, 2011 annual report of CLP Holdings Limited will be reviewed to further discuss how its qualitative characteristics of the information are useful for shareholders.Finally, one of its qualitative characteristics will be selected to be the most important and a conclusion will be made at the end of this essay. Usefulness of conceptual framework The IASB Framework sets out the definitions and recognition criteria for the elements of financial statements. Before the framework was set, companies might use different definitions and recognition criteria to recognize their transactions, even it is the same nature of transactions. For example, non-current as sets can be recognized in cost model or revaluation model.If there was no framework, a company might use cost model to recognize its machinery while revaluation model was used to recognize property. However, the entity is required to be consistent to adopt cost model or revaluation model for a long period under the framework. As a result, the framework is useful for consistent accounting treatments. Because of the consistency, it is easier to compare the entities’ performance over time, even performance between different entities in the same industry.Also, it is easier for the reporting entity to prepare financial statements, especially in preparing consolidated financial statements for multinational entities. Most countries adopt IFRS nowadays. This is an international framework and they can use the same definition and recognition criteria when considering how to treat different transactions such as sales, purchases and valuation of stock. It will reduce the time for arguing the accounting treatment of different transactions. Qualitative characteristics of financial reportAs a shareholder, the financial statement should have four major qualitative characteristics and these characteristics will be discussed as follow: 1. Relevance A relevant financial statement should be predictable and have confirmatory value. It should be able to predict the future of the enterprise and shareholders can make a suitable decision based on the statement. In 2011 annual report of CLP Holdings Limited (CLP), there is a risk management report which is relevant to shareholders. All entities will probably have different types of risk.Nevertheless, CLP set a risk management framework which consists of risk governance structure and risk management process. The risk governance structure states that who will be responsible for dealing with risks and the risk management process diagram shows how to manage its risks. Additionally, CLP assessed its top tier risks and future challeng es so that shareholders can predict how risky if they invest in this company. Another example of relevance is the trend of earnings and dividends per share in the past ten years. The trend can help existing and potential shareholders predict the future performance of CLP.Since 2002, Earnings and dividends per share are increasing except 2009; shareholders then may predict they can still get an increasing earnings and dividends per share in the coming years and they may be willing to invest more in the enterprise. Last but not least, financial statement of CLP has confirmatory value because of its 5-year summary statement. The figures of the past five years has already confirmed in the past annual reports. For example, total revenue sharply increased in 2011 and the main reason is the rising revenue from energy business in Australia.Shareholders may predict that CLP is expanding its business to Australia and the revenue from this segment will continuously rise in the coming few years . Besides the increasing revenue, dividends declared of CLP are very steady and shareholders do not worry if they cannot receive the dividend. Hence, shareholders will evaluate that CLP is worth to invest. 2. Faithful representation A reliable financial statement should be prepared in a true and fair view. That means it should be neutral, free from material errors, complete and prudence.From the point of auditors’ view, the financial statement of CLP is prepared in a true and fair view and it complies with Hong Kong Financial Reporting Standards (HKFRS) and Hong Kong Companies Ordinance. As the auditors’ report is clean, it reflects that the financial statement is free from material errors and the major transactions are completely recorded during 2011. On the other hand, CLP has an audit committee which comprises with five members; all of them are Independent Non-executive Directors (INED) while three of them are members of Hong Kong Institute of Certified Public Accou ntants (HKICPA).INED do not participate in any operation and decision making of the company and do not have any relationship to the shareholders, so they are not influenced by shareholders and can be no bias in selection of information putting in the financial report. In addition, the financial report is audited by the third party and the opinion can be formed neutrally. Furthermore, the financial report should be prepared in a prudent manner which means assets or revenue cannot be overstated whilst liabilities and expenses cannot be underestimated.For CLP, its inventory is stated at a lower cost or net realizable value. Prudence concept is applied when the company prepare its financial statement. 3. Comparability A qualitative financial statement should be comparable, no matter internal or external. Shareholders must be able to compare the financial performance between different years of the reporting entity and at the same time, they also are able to compare the financial performa nce between different companies in the same industry. The financial statement of CLP can fulfil this qualitative characteristic.Besides its statement shows the figures of two years (2010 and 2011), it shows the increasing or decreasing percentage of its revenue, expenses, assets and liabilities in 5-min annual report and economic value section. It gives a clear picture to shareholders to compare between two years. Moreover, the financial report is prepared based on HKFRS, the accounting policy is consistent and because of this, it is easier for shareholders to compare the financial performance between different years.Financial statement of CLP can also be compared with Power Assets Holdings Limited (HKEL), which is the major competitor of CLP. In 2011, revenue of CLP is about nine times of HKEL and the operating profit is a double of HKEL. However, profit before taxation of CLP is only $1,000 million more than that of HKEL. Shareholders may query why there is only a small difference between profit of both companies and what is happening on the operation of CLP. Therefore, they can make a correct decision through the comparison. 4. UnderstandabilityBesides the above three qualitative characteristics, understandability is important for shareholders too. There are many explanations at the bottom of the financial statement such as a quick guide of its classification of different entities and explanation of indefinite useful life. These further explanations can also help shareholders understand the financial performance of CLP more. As not all shareholders have enough accounting knowledge, some of them may not know how to evaluate the performance through income statement and financial position.Thus, statement of cash flow can help them understand the performance easier because this statement is prepared in cash basis; it clearly reflects the net cash inflows and outflows from different activities. The liquidity and the going concern of CLP can be understood even if shareholders are lack of accounting knowledge. The items of an understandable financial statement should also be aggregated and classified. Revenue in Consolidated Income Statement is aggregated at a lump-sum figure and the analysis of the revenue only revealed in the Notes to the Financial Statements.Another example is bank loans and other borrowings. An analysis of this item is also revealed in the notes. Bank loans and other borrowings is not only aggregated at a lump-sum figure, but also is classified as a current liabilities with other short-term liability. In my opinion, faithful representation is the most important qualitative characteristic. Users of financial report are not only shareholders, but also lenders, government, suppliers, employees, customers and the public.A financial report is prepared on the basis of true and fair which means that financial report is reliable and can be used under different circumstances. For instance, the entity wants to borrow loan from ban k, the bank can rely on the financial report and estimate the risk of this loan according to accounting ratios and cash flow. For suppliers, when they consider giving credit terms to the company, they can rely on the statement of cash flow and some short-term items like current assets and current liabilities.Furthermore, the financial report must be audited. If the report is not prepared in true and fair view, the annual report will be qualified. As a result, this qualitative characteristic is the most important. Conclusion To sum up, the financial report must be prepared on the basis of the conceptual framework because the framework provides general theories and recognition criteria in preparing financial report. Additionally, a qualitative report should be relevant, reliable, comparable and understandable.Shareholders can predict the future financial performance based on the past events and the forecast of the company. Also, the report can be compared internally and externally and be understood so that shareholders can decide how to invest their money. On the other hand, the most important characteristic is faithful representation. Financial report must be prepared in a true and fair view so that the report can be unqualified and be used appropriately by the community. (Word: 1598) Reference 1. o CLP HOLDINGS LIMITED, (2012). ‘CLP Group 2011 Annual Report’.Available from: https://www. clpgroup. com/ourcompany/aboutus/resourcecorner/publications/Pages/publication. aspx [Accessed 28. 10. 2012] 2. ELLIOTT, Barry & ELLIOTT, Jamie, (2007). Financial Accounting and Reporting. England: Pearson Education Limited, pp. 161 – 181 3. HONG KONG INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS (HKICPA), (2010). ‘Conceptual Framework for Financial Reporting 2010’. Available from: http://app1. hkicpa. org. hk/ebook/index. php [Accessed 28. 10. 2012] 4. POWER ASSETS HOLDINGS LTD, (2012). ‘Annual Report 2011’.Available from: http://www. powerassets. com/pahWeb/IR/FinancialReports/AnnualReports/AnnualReport2011_en. htm [Accessed 12. 11. 2012] 5. PUTHRAN, Santosh, (2009). ‘IASB Framework – Financial Statements’. Available from: http://www. managementaccountant. in/2009/07/iasb-framework-financial-statements. html [Accessed 10. 11. 2012] 6. VICTORIA UNIVERSITY, MELBOURNE AUSTRALIA, (n. d. ). ‘Conceptual framework’. Available from: http://www. staff. vu. edu. au/faux/Topic%203%20Conceptual%20Framework%201%202002. ppt [Accessed 28. 10. 2012] Advanced Corporate Reporting A reporting entity is required to prepare its financial report based on IASB framework and it is so useful for different types of users to evaluate the financial performance of the reporting entity and make suitable decisions. In this essay, the usefulness of conceptual framework in preparing of financial report will be discussed. And also, 2011 annual report of CLP Holdings Limited will be reviewed to further discuss how its qualitative characteristics of the information are useful for shareholders.Finally, one of its qualitative characteristics will be selected to be the most important and a conclusion will be made at the end of this essay. Usefulness of conceptual framework The IASB Framework sets out the definitions and recognition criteria for the elements of financial statements. Before the framework was set, companies might use different definitions and recognition criteria to recognize their transactions, even it is the same nature of transactions. For example, non-current as sets can be recognized in cost model or revaluation model.If there was no framework, a company might use cost model to recognize its machinery while revaluation model was used to recognize property. However, the entity is required to be consistent to adopt cost model or revaluation model for a long period under the framework. As a result, the framework is useful for consistent accounting treatments. Because of the consistency, it is easier to compare the entities’ performance over time, even performance between different entities in the same industry.Also, it is easier for the reporting entity to prepare financial statements, especially in preparing consolidated financial statements for multinational entities. Most countries adopt IFRS nowadays. This is an international framework and they can use the same definition and recognition criteria when considering how to treat different transactions such as sales, purchases and valuation of stock. It will reduce the time for arguing the accounting treatment of different transactions. Qualitative characteristics of financial reportAs a shareholder, the financial statement should have four major qualitative characteristics and these characteristics will be discussed as follow: 1. Relevance A relevant financial statement should be predictable and have confirmatory value. It should be able to predict the future of the enterprise and shareholders can make a suitable decision based on the statement. In 2011 annual report of CLP Holdings Limited (CLP), there is a risk management report which is relevant to shareholders. All entities will probably have different types of risk.Nevertheless, CLP set a risk management framework which consists of risk governance structure and risk management process. The risk governance structure states that who will be responsible for dealing with risks and the risk management process diagram shows how to manage its risks. Additionally, CLP assessed its top tier risks and future challeng es so that shareholders can predict how risky if they invest in this company. Another example of relevance is the trend of earnings and dividends per share in the past ten years. The trend can help existing and potential shareholders predict the future performance of CLP.Since 2002, Earnings and dividends per share are increasing except 2009; shareholders then may predict they can still get an increasing earnings and dividends per share in the coming years and they may be willing to invest more in the enterprise. Last but not least, financial statement of CLP has confirmatory value because of its 5-year summary statement. The figures of the past five years has already confirmed in the past annual reports. For example, total revenue sharply increased in 2011 and the main reason is the rising revenue from energy business in Australia.Shareholders may predict that CLP is expanding its business to Australia and the revenue from this segment will continuously rise in the coming few years . Besides the increasing revenue, dividends declared of CLP are very steady and shareholders do not worry if they cannot receive the dividend. Hence, shareholders will evaluate that CLP is worth to invest. 2. Faithful representation A reliable financial statement should be prepared in a true and fair view. That means it should be neutral, free from material errors, complete and prudence.From the point of auditors’ view, the financial statement of CLP is prepared in a true and fair view and it complies with Hong Kong Financial Reporting Standards (HKFRS) and Hong Kong Companies Ordinance. As the auditors’ report is clean, it reflects that the financial statement is free from material errors and the major transactions are completely recorded during 2011. On the other hand, CLP has an audit committee which comprises with five members; all of them are Independent Non-executive Directors (INED) while three of them are members of Hong Kong Institute of Certified Public Accou ntants (HKICPA).INED do not participate in any operation and decision making of the company and do not have any relationship to the shareholders, so they are not influenced by shareholders and can be no bias in selection of information putting in the financial report. In addition, the financial report is audited by the third party and the opinion can be formed neutrally. Furthermore, the financial report should be prepared in a prudent manner which means assets or revenue cannot be overstated whilst liabilities and expenses cannot be underestimated.For CLP, its inventory is stated at a lower cost or net realizable value. Prudence concept is applied when the company prepare its financial statement. 3. Comparability A qualitative financial statement should be comparable, no matter internal or external. Shareholders must be able to compare the financial performance between different years of the reporting entity and at the same time, they also are able to compare the financial performa nce between different companies in the same industry. The financial statement of CLP can fulfil this qualitative characteristic.Besides its statement shows the figures of two years (2010 and 2011), it shows the increasing or decreasing percentage of its revenue, expenses, assets and liabilities in 5-min annual report and economic value section. It gives a clear picture to shareholders to compare between two years. Moreover, the financial report is prepared based on HKFRS, the accounting policy is consistent and because of this, it is easier for shareholders to compare the financial performance between different years.Financial statement of CLP can also be compared with Power Assets Holdings Limited (HKEL), which is the major competitor of CLP. In 2011, revenue of CLP is about nine times of HKEL and the operating profit is a double of HKEL. However, profit before taxation of CLP is only $1,000 million more than that of HKEL. Shareholders may query why there is only a small difference between profit of both companies and what is happening on the operation of CLP. Therefore, they can make a correct decision through the comparison. 4. UnderstandabilityBesides the above three qualitative characteristics, understandability is important for shareholders too. There are many explanations at the bottom of the financial statement such as a quick guide of its classification of different entities and explanation of indefinite useful life. These further explanations can also help shareholders understand the financial performance of CLP more. As not all shareholders have enough accounting knowledge, some of them may not know how to evaluate the performance through income statement and financial position.Thus, statement of cash flow can help them understand the performance easier because this statement is prepared in cash basis; it clearly reflects the net cash inflows and outflows from different activities. The liquidity and the going concern of CLP can be understood even if shareholders are lack of accounting knowledge. The items of an understandable financial statement should also be aggregated and classified. Revenue in Consolidated Income Statement is aggregated at a lump-sum figure and the analysis of the revenue only revealed in the Notes to the Financial Statements.Another example is bank loans and other borrowings. An analysis of this item is also revealed in the notes. Bank loans and other borrowings is not only aggregated at a lump-sum figure, but also is classified as a current liabilities with other short-term liability. In my opinion, faithful representation is the most important qualitative characteristic. Users of financial report are not only shareholders, but also lenders, government, suppliers, employees, customers and the public.A financial report is prepared on the basis of true and fair which means that financial report is reliable and can be used under different circumstances. For instance, the entity wants to borrow loan from ban k, the bank can rely on the financial report and estimate the risk of this loan according to accounting ratios and cash flow. For suppliers, when they consider giving credit terms to the company, they can rely on the statement of cash flow and some short-term items like current assets and current liabilities.Furthermore, the financial report must be audited. If the report is not prepared in true and fair view, the annual report will be qualified. As a result, this qualitative characteristic is the most important. Conclusion To sum up, the financial report must be prepared on the basis of the conceptual framework because the framework provides general theories and recognition criteria in preparing financial report. Additionally, a qualitative report should be relevant, reliable, comparable and understandable.Shareholders can predict the future financial performance based on the past events and the forecast of the company. Also, the report can be compared internally and externally and be understood so that shareholders can decide how to invest their money. On the other hand, the most important characteristic is faithful representation. Financial report must be prepared in a true and fair view so that the report can be unqualified and be used appropriately by the community. (Word: 1598) Reference 1. o CLP HOLDINGS LIMITED, (2012). ‘CLP Group 2011 Annual Report’.Available from: https://www. clpgroup. com/ourcompany/aboutus/resourcecorner/publications/Pages/publication. aspx [Accessed 28. 10. 2012] 2. ELLIOTT, Barry & ELLIOTT, Jamie, (2007). Financial Accounting and Reporting. England: Pearson Education Limited, pp. 161 – 181 3. HONG KONG INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS (HKICPA), (2010). ‘Conceptual Framework for Financial Reporting 2010’. Available from: http://app1. hkicpa. org. hk/ebook/index. php [Accessed 28. 10. 2012] 4. POWER ASSETS HOLDINGS LTD, (2012). ‘Annual Report 2011’.Available from: http://www. powerassets. com/pahWeb/IR/FinancialReports/AnnualReports/AnnualReport2011_en. htm [Accessed 12. 11. 2012] 5. PUTHRAN, Santosh, (2009). ‘IASB Framework – Financial Statements’. Available from: http://www. managementaccountant. in/2009/07/iasb-framework-financial-statements. html [Accessed 10. 11. 2012] 6. VICTORIA UNIVERSITY, MELBOURNE AUSTRALIA, (n. d. ). ‘Conceptual framework’. Available from: http://www. staff. vu. edu. au/faux/Topic%203%20Conceptual%20Framework%201%202002. ppt [Accessed 28. 10. 2012]