Assurance Hand Note in Kl

Mahedi 01914919285 Subject: Assurance Level: Knowledge Chapter: 1 (Concept of & Need for Assurance) Assurance: a conclusion of an opinion designed to enhance the degree of confidence of the intended users by evaluating or measuring of a subject matter. Assurance engagement: is a process by which a practitioner can obtain the authority to express a conclusion opinion about the outcome of the evaluation or measurement of a subject matter against criteria to enhance the degree of confidence of the intended users. Key elements of assurance engagement: †¢ †¢ †¢ †¢ †¢ Three parties A subject matter Suitable criteria Sufficient criteria ReportReasonable assurance: is the high but not absolute level of assurance, depends on evidence obtaining during the time of audit. Importance and benefits of assurance: †¢ †¢ †¢ †¢ †¢ †¢ Independent professional opinion Confidence Prevention of error and fraud Acceptance Recognition/reliability Credibi lity True: that id factual, confirmation and reality Fair: free from discrimination and bias Assurance never be absolute: assurance provider never obtain the absolute level of assurance due some limitations. So assurance never be absolute. Limitations of assurance engagement: †¢ †¢ †¢ †¢ †¢ †¢ Over see the preparation of F.S. Inherent limitation Evidence obtain Test basis checking Estimates Nature of assurance report Tarek 01712-049032 †¢ †¢ Short time Shortage of man power Assurance engagement process: †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ Obtaining the engagement Continuous risk assessment Engagement acceptance Scope of the engagement Planning the engagement Obtaining evidence Evaluation the result of assurance work Concluding and reporting on the engagement Reporting to the engagement parties Keeping record Audit: the objective of an audit of F. S. is to enable the auditor to express an opinion whet her the F. S. re prepared, in all material respects, in accordance with an applicable financial reporting framework. There are many issues users want assurance on: * Value for money studies †¢ Circulation report †¢ Cost/benefit report †¢ Due diligence †¢ Review of specialist business activities †¢ Internal audit †¢ Report on website security †¢ Fraud investigations †¢ Inventories and receivables report †¢ Internal control report †¢ Reports on business plans or projections Examples of assurance engagement †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ Local authority audit Bank audit Insurance audit Pension scheme audit Charity audit Solicitors audit Environmental audit Branch auditExpectation gap: difference between expectation level and practical audit performance. Tarek 01712-049032 Company Act: 1994 Chapter: 2 (Process of Assurance) Scope/step/process of assurance engagement: †¢ †¢ †¢ †¢ †¢ Source of information of new client Enquiries from other source Document review Previous auditor Review rules, regulation and standards Assurance engagement letter: 1. Starting: †¢ †¢ Flow of communication auditor Vs client Address- To responsible parties/client 2. Body: †¢ †¢ †¢ †¢ Introduction/reference Management and auditors responsibility to F. S. Scope of audit work-test limitation Other responsibilities . Conclusion: †¢ †¢ Audit fees and other charges Conclusion Para (depend on nature of business) Audit accepting an engagement: †¢ †¢ †¢ †¢ Proposed auditor must communicate with previous auditor (on the permission of client). If their audit engagement date is valid Refusal reasonable cause If any fraud/error in the client Assurance appointment considerations: †¢ †¢ †¢ †¢ Ensure professionally qualified Ensure existing resources are adequate Obtain reference Communicate with previous auditor. Tare k 01712-049032 ** Read interactive questions and self test from manual. Chapter: 3 (Planning and Assignment)Planning: is a process by which assignment will be performed in an effective manner. Audit plan: is a process by which auditor will perform all activities regarding audit in an effective manner. Audit strategy: is a technique which sets scope, timing and direction of the audit and guides the development of the audit plan. Importance/requirements of audit plan: †¢ †¢ †¢ †¢ †¢ †¢ Appropriate attention to important areas Identify potential problems and resolve timely Ensure the audit work done properly and organized way Assigned the audit work to the member of audit team Direction and supervision of audit work Facilitate review of workStructure of audit plan: †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ Ethical requirements Ensure team of engagement Establishing audit strategy Development audit plan including risk assessment proced ure/audit test Determining the relevant characteristics Discovering key dates for reporting & others Determining materiality & preliminary risk assessment Consideration team members availableTarek 01712-049032 Key elements of an overall audit strategy: †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ Understanding the entities environment Understanding the accounting & internal control system Risk and materiality Consequent nature, timing and extent of procedures Co-ordination, direction, supervision and review Other matters Budget and fees StaffingProfessional skepticism: An attitude of professional skepticism means the auditor makes a critical assessment with questioning mind, of the validity of audit evidence obtained and is alert to audit evidence that contradicts or bring into question, the reliability of documents and responses to enquiries and other information obtain from management and those charged with governance. Analytical procedure: means evaluation of f inancial information made by a study of possible relationship among financial and non-financial data.Sources for risk assessment by using analytical procedure: †¢ †¢ †¢ †¢ †¢ †¢ †¢ Interim financial information Budget Management information Non-financial information Bank and cash records VAT returns Board minutes Show ratio analysis formula (manual page 50) Materiality: relates to the level of tolerable error that affects the decision of users and accountant. Tolerable error: the maximum error that an auditor is accept in a class of transactions or balances in the F. S. Tolerable error percentage (%): On sales 0. 5-01% Gross profit 0. -1% Total asset 1-2% Net asset 2-5% Profit before tax 5% Profit after tax 5-10% Tarek 01712-049032 Audit risk: the risk is define, that auditors give an inappropriate opinion on the F. S. Audit risk: material misstatement risk (for co. ) + detection risk (for auditor) Material misstate risk = inherent risk + control r isk Inherent risk: the susceptibility of an account balance or class of transaction to misstatement that could be material individually or when aggregated with misstatements in other balances or classes assuring there where no related internal controls.Characteristics of inherent risk: †¢ †¢ †¢ †¢ †¢ Estimates of balances If co. is in trouble Seeking for fund raising Motivation of director/management (profit related issue) Choices of methods for financial transactions Control risk: the risk that a material misstatement would not be prevented, detected or corrected by accounting and internal control systems. Detection risk: the risk that, auditors procedure will not detect or misstatement that exits in an account balance or class of transaction that could be material.Steps for assessing the audit risk: †¢ †¢ †¢ †¢ Step 1: identify the risks throughout the process of obtaining and understanding the entity. Step 2: relate the risk to what ca n go wrong the assertion level. Step 3: consider whether the risks are magnitude that could result in material misstatement. Step 4: consider the likelihood of risk considering material misstatement. Chapter: 4 (Evidence and reporting) Documents: All information which obtain/gathered by the auditor during audit period is documents. Audit evidence: all information/documents gathered by the auditor and on which based auditor conclude the opinion.Tarek 01712-049032 Test of control: audit evidence obtains evaluating the effectiveness of controls in preventing/detecting and correcting material misstatement at the assertion level. Substantive procedure: test of details of classes of transactions account balance and disclosure substantive analytical procedure. Quality/source of evidence: †¢ †¢ †¢ †¢ †¢ external auditor entity written oral F. S. assertion level: A) Class of transaction †¢ †¢ †¢ †¢ †¢ Occurrence Completeness Accuracy Cut-off Classification B) A/C balance: †¢ †¢ †¢ †¢ Existence Rights and obligations Completeness Valuation and allocationC) Presentation and disclosure: †¢ †¢ †¢ †¢ Occurrence Completeness Classification and understandability Accurate and valuation Sufficiency: is the measure of quantity of audit evidence. Appropriateness: is the measure of quality or reliability of audit evidence. F. S. assertion: the presentations by management, explicit or otherwise that are embodied in the financial statement. Audit opinion: Tarek 01712-049032 A) qualified B) non-qualified Qualified opinion: 1. 2. 3. 4. modified scope of limitations adverse disclaimer Read self test and interactive question. Chapter: 5 (introduction to internal controlBSA 315: internal Control Internal control: is the process designed and effect by those charged with governance, management and other parts to provide reasonable assurance about the entities objectives with record to reliability of f inancial reporting, effectiveness and efficiency of operations and compliance with applicable laws and regulations. Reason for internal control: †¢ †¢ †¢ Minimizing business risk Ensuring the continuing effective function of the company Ensuring Co. complies with relevant laws and regulations. Limitation of internal control: †¢ †¢ †¢ †¢ †¢ Expense Human elements Unusual transaction Management oversee Regular monitoringComponents of internal control: †¢ †¢ †¢ †¢ †¢ The control environment Risk assessment process Information system Control activities All system should be monitored Tarek 01712-049032 Control environment: the control environment includes the governance and management functions and the attitudes, awareness and actions of those charged with governance and management concerning the entities internal control and its importance in the entity. Audit committee: a subsection of the board of directors which has a p articular interest in the finance and accounting activities of the Co.Function/duties of audit committee: †¢ †¢ †¢ †¢ †¢ †¢ †¢ To review the integrity of the F. S. To review the Co. internal financial control Monitor the effectiveness of the Co. internal audit function To make recommendations to the board in relation to the external auditor Monitor the independence of the internal auditor To implement policy on the provision of non-audit service by the external auditor Entities risk assessment process: the process by which management in a business identifies business risk relevant to financial reporting objectives and decides what actions to take to address those risks.Business risk: The risks inherent to the Co. in its operations. It is risk at all levels of the business. Control activities: The policies and procedures that help ensure that management directives are carried. Business risk assessment process: †¢ †¢ †¢ †¢ Identif y relevant business risk Estimate the impact of risks Asses the likelihood of occurrence Decide upon controls Reporting objectives: includes the procedures and records designed to initiate, record, process and report entity transactions and to maintain accountability for the related assets, liabilities and equities.Types of control activities: †¢ †¢ †¢ †¢ †¢ Authorizations Performance review Information processing physical control Segregation of duties IT control: the internal control in a computerized environment includes both manual procedures and procedures designed to computer programs. Tarek 01712-049032 Application control: are manual or automated procedures that apply to the processing of individual applications to ensures that transactions occurred, are authorized and are completely and correctly recorded and processed.General controls: are policies and procedures that relate to many applications and support the effective function of application cont rols by helping to ensure the continued proper operation of information systems. General control examples: †¢ †¢ †¢ †¢ †¢ Development of computer applications Prevention or detection of unauthorized changes to programs Testing and documentation of program Controls to prevent unauthorized amendments to data files Controls to ensure continuity of operationsExamples of application control: †¢ controls over input: completeness †¢ controls over input: accuracy †¢ authorization control †¢ processing control †¢ control over master file and standing data Steps to recording of internal control: †¢ †¢ †¢ Narrative (short note, background information) Questioners/checklist Diagrammed (flow chart, organization chart, family trees and record of related parties) Internal control procedure: †¢ Initiative †¢ Authorization †¢ Accuracy †¢ Recording †¢ Documentation Tarek 01712-049032Chapter: 6 (Revenue System) R isk objective on selling goods: †¢ †¢ †¢ Order may be taken from customer who are not able to pay Order may be taken from customer who are paid after long time Order may not recorded properly Taking steps to prevent this risk: †¢ †¢ †¢ Goods and services are only supplied to customers with good credit rating Customers are encouraged to pay promptly Chapter: 9 (Internal Audit) Internal Audit: A monitoring activities established within an entity as a service to the entity.Its function includes, amongst other things, examining, evaluating and reporting to management and the directors on the adequacy and effectiveness of components of the accounting and internal control system. External Audit: An audit carried out by an external. The objective of an external audit of financial statements is to enable auditors to express an opinion on whether the F. S. is prepared in accordance with the applicable financial reporting framework. Difference between internal an d external audit: Subject Definition Reason Internal Audit †¦Ã¢â‚¬ ¦.Is an activity design to add value and improve an organizations operation Audit report to the board of director or audit committee Audit works relate to the operations of the organization He/they are the employees of the Co. except some exception External Audit †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. To express an opinion on F. S Reporting Relating to Relationship with the Co. Auditors report to the shareholder to Co. on the truth and fairness of the F. S Audits works to the F. S They are independent not the employee of the co. Internal Audit functions: †¢ Monitoring internal controlTarek 01712-049032 †¢ †¢ †¢ †¢ Examining financial and operating information Review of the economy, efficiency and effectiveness of operations Review of compliance with laws and regulations Special investigations, for instance into suspected fraud Operational Audit: Operational Audit is the review of operational process of the organization. They are also known as management or efficiency audit. Their prime objective is the monitoring if management performance, ensuring Co. policy is adhered to. Function of Operational audit: †¢ †¢ Ensuring policies is adequate Ensuring policies work effectivelyChapter: 10 (Documentation) Audit evidence: Working paper with relevant evidence to draw opinion and helping assurance provider for assurance report. Audit Documentation: Audit documentation is the record of procedures performed, relevant audit evidence obtained and conclusion related. Form and content/work of documentation: †¢ †¢ †¢ †¢ †¢ †¢ Procedure of audit Risk identification Judgment Significance Problem/expectation Audit methodology Automated working paper: Working paper package have been developed which can make the documenting audit work much easier.Advantages of evidence: Tarek 01712-049032 †¢ †¢ †¢ Risk and error reduce Key of analytical informat ion Less time consuming Permanent audit filing: †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ Engagement letter Questioner Memorandum of Article and A/A Legal documents Detail history of business Board minutes of continuing relevant Previous F. S. Accounting system notes Current audit file: †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ F. S. Checklist Management details Review notes Letter of representation Budget and summarized Management letter Notes of board minutes Communication with 3rd partiesWorking paper decoration: †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ Name of client Balance sheet date Name of the preparer Date of preparation Subject of the working paper Name of reviewer Date of review Object of the work done Source of information Sample size determine The work done The result obtained Analysis of error Other significant observation The conclusion dr awn Tarek 01712-049032 Tarek 01712-049032 Chapter: 11 (Evidence and Sampling) Evidence: All of the information used by auditor to drawn an opinion. Source to obtain evidence: †¢ †¢ †¢ †¢ †¢ †¢ †¢ Inspection Observation Inquiry Confirmation Re-calculation Re-performance Analytical procedureTest of control: Perform to obtain audit evidence about the effectiveness of controls in preventing or detecting and correcting material misstatement at the assertion level. Substantive procedure: Audit procedure to detect material misstatement at the assertion level test of details of transactions. * Account balance * Substantive analytical procedure Computer assisted audit technique: †¢ †¢ †¢ Dummy data Rent data Dummy data against verified copy Quality of audit evidence: †¢ †¢ †¢ †¢ †¢ External Auditor Entity Written OriginalTarek 01712-049032 Analytical Procedure – BSA 320 Audit reliability factors: †¢ Analyz ed †¢ Availability of information †¢ Accuracy †¢ Frequency †¢ Relevant of the information †¢ Comparability of the information †¢ Previous auditor Source of information about client: †¢ Interim financial information †¢ Budgets †¢ Management accounts †¢ Non-financial information †¢ Bank and cash records †¢ Sales tax returns †¢ Board minutes †¢ Client/3rd party Audit sampling: Involve the application of audit procedure to less then100% of the items within an account balance or class transactions such that all sampling units have a change of selection.Population: Is the [entire set of data from which a sample is selected and about which an auditor wishes to draw a conclusion. Statistical sampling: Is any approach to sampling that involves random selection of a sample, and use a probability theory to evaluate sample results, including measurement of sampling risk. Non-statistical sampling: Is a substantive approach to inference, in that mathematical terms are not used consistently in determining sample size, selecting the sample, or evaluating sample result.Error: Means either control deviations, when performing test of controls, or misstatements, when performing substantive procedure. Tarek 01712-049032 Expected Error: Is the error that an auditor expects to be present in the population. Sampling units: Are the individual items constituting in a population. Tolerable error: Is the maximum error in the population that the auditor would be willingly to expect. Random selection: Ensures that all items in the population have an equal chance of selection, e. g. y use of random number tables or computerized generator. Sequence or block selection: It may be used to check whether certain items have particular characteristics. Monetary unit sampling: This is a selection method that ensures that, every CU1 in a population has an equal chance of being selected for testing. Anomalous error: Means an error t hat arise an isolated event that has not recurred other than on specifically identifiable occasions and is therefore not representative of errors in the population.Sampling method: †¢ random selection †¢ systematic selection †¢ haphazard selection †¢ sequence block selection †¢ monetary unit sampling Name of some data analytical software for auditor: †¢ ACL (Audit Command Language) †¢ IDEA †¢ ESCORT computer audit †¢ Active data for Excel †¢ Top CAAT for Excel †¢ ACL service Ltd †¢ Case ware international †¢ Intra com IT service Tarek 01712-049032 †¢ †¢ Information active Inc Reinvent data Tarek 01712-049032 Chapter: 12 (Management Representation) Management: Means officer (director and Co. secretary) and others who perform senior managerial functions.Elements of management representation letter: †¢ †¢ †¢ Entity letter head To auditor and date Tarek 01712-049032 Chapter: 13 (Substantive Procedu re) Key issues/risk of non-current assets: †¢ †¢ †¢ †¢ †¢ Right and obligations assertion Existence assertion Completeness assertion Valuation assertion Presentation and disclosure assertion Source of information/observation matters: †¢ †¢ †¢ †¢ †¢ †¢ †¢ The non-current asset register Purchases invoices for assets during the year Valuation carried out by 3rd party Purchases deeds or receipt documents Hire purchases documents of assets Physical inspection Depreciation calculationIntangible non-current asset: means the assets which cannot touch or show but has a market value. Examples of intangible non-current assets: †¢ †¢ †¢ Goodwill Patent right License and development cost etc. Key issues and sources of information of intangible non-current assets is as like as tangible non-current assets. Key issues/risk of inventory: †¢ †¢ †¢ †¢ †¢ †¢ Existence Completeness Obsolete or damage goods Miscalculation Rights and obligations Cut-off dates Prevent risk of inventory: †¢ The Co. control over inventory countingTarek 01712-049032 †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ Auditors regular physical counting Check inventory register Physical verification from warehouse Check purchases invoices Check work-in-progress records for inventory Post-year-end sales invoices for inventory Post-year-end price lists for inventory Post-year-end sales Sources of information for non-current assets: †¢ †¢ †¢ †¢ Invoices 3rd party valuation Auditors inspection Client schedule and calculation Source of information for inventory: †¢ †¢ †¢ †¢ †¢ Auditors attendance at count Invoices 3rd party confirmation Client control over count Clients production scheduleInventory count procedure/various types of inventory count: 1. organization of count: †¢ †¢ †¢ †¢ Supervision by senior staff Tidying and ma rking Restriction and control movement during counting Identification of damaged, obsolete, slow moving and returnable goods 2. Counting: †¢ †¢ systematic counting independence counting 3. Recording: †¢ †¢ †¢ †¢ †¢ Serial numbering Information count records Quality, controls and work in progress counting Inward and outward counting Reconciliation with recordsTarek 01712-049032 Key issues of receivables: †¢ †¢ Rights and obligations Valuation Source of information of receivables: †¢ †¢ 3rd party confirmation Cash payment after date Key issues of bank: †¢ †¢ †¢ †¢ Completeness Existence Rights and obligations Valuation Source of information about parties bank A/c: †¢ †¢ †¢ †¢ Confirmation from bank Bank statement Client schedule Reconciliation with cash book Payable key issues: †¢ †¢ †¢ Completeness Rights and obligations Correct valuation Source of information of A/P: †¢ †¢ †¢ Suppliers statements Payable ledger records Payment documentsKey issues of long term liabilities: †¢ †¢ †¢ †¢ Completeness Accuracy Disclosure Particular papers Source of information of long term liabilities: †¢ Loan documents Tarek 01712-049032 †¢ †¢ †¢ †¢ †¢ Statutory books Confirmations from lenders Client schedule Board minutes Client calculation Key issues of income statement: †¢ †¢ Completeness Accuracy Steps for observing long term liabilities: †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ Compare opening balances to previous years working paper Test clerical accuracyCompare balance to nominal ledger Check nominal ledger Trace additions and repayments to entries in the cash book Confirm repayments with loan agreement Examine cancelled cheques Verify the borrowing limits Examine sign of board minutes Obtain direct confirmation from lenders Verify inter est check Review any correspondence review minutes, cashbook and loan books. Chapter: 14 (Codes of Professional Ethics) Fundamental principles of code of ethics: †¢ †¢ †¢ †¢ †¢ Integrity Objectivity Professional competence and due care Confidentiality Professional behaviorIndependence of mind: The state of mind that permits the expression of a conclusion without being affected by influence that comprise professional, allowing an individual to act with integrity. Independence in appearance: Tarek 01712-049032 The avoidance of facts and circumstances that are so significant that a reasonable and informed 3rd party, having knowledge of all relevant information, including safeguard applied, would reasonably conclude a firms, or a member of the assurance teams, integrity, objectivity or professional skepticism have been compromised.Threats of code of ethics: †¢ †¢ †¢ †¢ †¢ †¢ Self interest threat Self interest threat Advocacy threat Familiarity threat Intimidation threat Management threat Safeguards of code of ethics: †¢ †¢ †¢ †¢ †¢ †¢ Ethical training and experience Continuing professional development requirement Corporate governance regulation Professional standards Regulatory monitoring and disciplinary procedure External review Chapter: 15 Integrity: Means that an accountant must be straightforward and honest. It implies fair dealings and truthfulness.Objectivity: State of mind that exclude bias, prejudice and compromise and that gives fair and imperial consideration to all matters that are relevant to the task in hand, disregarding those that are not. Independence: Is related to and underpins objectivity, it is freedom from situations and relationships. Self-interest threats are: †¢ †¢ Financial interests Close business relationship Tarek 01712-049032 †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ Employment with assurance client Partner on c lient board Family and personal relationship Gift and hospitality Loans and guarantees Overdue fees Percentage and contingent fees High percentage of fees Low-ballingFinancial interest: Exits where an assurance firm has a financial interest in a client. Direct financial interest: Exits where an assurance firm has a directly financial interest in a client. Immediate family: means a spouse (or equivalent) or a dependent. Assurance team: means all member of the engagement team for the assurance engagement and all others within the firm who can directly influence the outcome of the assurance engagement. Safeguards from interest: †¢ †¢ †¢ †¢ Disposing the interest Removing the individual from the team if required.Informed the client audit committee of the situation. Using an independent partner to review work if necessary Close business relationship: will involve a commercial financial interest, which in addition to a self-interest threat, could cause an intimidation threat. Dual employment: means the same person being employed by both an assurance firm and a client is not permitted. Safeguard from dual employment: †¢ †¢ †¢ Modifying the audit strategy Involving an additional professional accountant Carrying out a quality control review of the engagementPartner on a client board: mean a partner or employee of an assurance firm is also serve on the board of an assurance client. This is not permitted. This can also cause of self-review threat or a management threat. Tarek 01712-049032 Close family: means parent, child or sibling who is not an immediate family member. Contingent fees: fees calculated on a predetermined basis relating to the outcome or result of a transaction or the result of the work performed. Safeguards from high percentage of fees: †¢ †¢ †¢ †¢ Discussing the issues with audit committee Taking steps to reduce the ependency on the client Obtaining internal/external quality control review Consulti ng a 3rd party such as ICAB Self-review threat: †¢ †¢ †¢ †¢ †¢ †¢ †¢ Service with assurance client Preparing accounting records an F. S Valuation service Tax service Internal audit service Corporate finance Other service Advocacy threat: †¢ †¢ †¢ Legal service Corporate finance Contingent fees Familiarity threat: †¢ †¢ †¢ †¢ †¢ Family and personal relationship with client Employment with assurance client Recent service with assurance client Long association with assurance client RecruitmentIntimidation threat: †¢ †¢ †¢ †¢ Close business relationship Family and personal relationship Assurance staff members move to employment with client Litigation The ICAB code sets out a framework that professional accountant can follow when seeking to resolve ethical problems. It states that the professional accountant should consider: Tarek 01712-049032 †¢ †¢ †¢ †¢ †¢ †¢ The relevant facts The relevant parties The ethical issues involve The fundamental principles related to the matter in question Established internal procedure Alternative course of actionChapter: 16 (Confidentiality) The following security procedures are probably wise to prevent accidental disclosure of information: †¢ †¢ †¢ †¢ †¢ †¢ Don’t discuss client matter with any party of outside Don’t discuss client matter in a public place Don’t leave audit files un-attendant Don’t leave an audit file in a car or unsecured place Don’t remove audit working papers from the office unless strict necessary Don’t work on electronic working papers on systems that do not have the requisite protectionInformation only be disclosed where consent has been obtained from the client, employer or other proper source: †¢ †¢ If there is a public duty to disclose If there is a legal or professional right or duty to disclose Safegua rds of confidentiality: †¢ †¢ †¢ †¢ †¢ †¢ Disclosure of the circumstances of the conflict Obtaining the informed consent of the client to act Establishing information barriers Regular review of the application of safeguards by a senior individual not involve with the relevant Ceasing to act Physical separation of teams. Show interactive questions and self-test. The End

Potato Osmolarity Lab Essay

Purpose: The purpose of the lab is to discover the osmolarity of the potato tissue. Background Information: Osmolarity is a concept similar to concentration, except it is the total number of solute particles per liter. In this lab we can show osmolarity by using sucrose solutions and potato ores. This experiment displays hypertonic, hypotonic and isotonic solutions. A hypertonic solution is a solution with a relatively higher concentration, hypotonic cis relatively lower, and isotonic is the same. Variables: Constant = size of potato core Independent = sucrose molarity Dependent = mass percentage change Safety: Follow lab safety protocol and be careful with cork borer. Procedure: 1. With a cork borer, cut six cores from a potato. The cores should all be as close to the same length as possible: 30-50 mm cores are recommended. 2. Before continuing, produce a table that will show the volume and mass of the potato cores before and after being placed in solutions of 6 different sucrose molarities. 3. Determine mass of potato cores using a laboratory balance. Record in table. 4. Place each core in a different test tube labelled with the core’s identification letter and the molarity of the sucrose solution to be placed in the tube 5. Add a labelled molar solution to each test tube until core is covered. Place foil over each tube and store for 24 hours 6. On the next day, repeat step 3 Conclusion/Analysis: The osmolarity of the potato core is 0.4 M, I determined this by finding where on my graph the percentage change in mass was equivalent to 0. This meant that there was no change in mass, the tissue and solution were isotonic, and the molarity of the solution is the same as the osmolarity of the tissue. In this lab, and all experiments, an accurate measurement of mass was crucial to finding the correct results, trend, and osmolarity. The conclusion of this lab was based off of a negative trend on the graph which could have been skewed from inaccurate data. In order to attain more reliable data I could have done multiple trials in the procedure which would clarify my results and conclusions. Also to generate better data a more precise device for measuring the mass of the potato cores could have been used. Also the size of the potato cores could have been more constant to create more accurate data. Outside of this experiment osmolarity is used in urine tests to calculate the concentration of certain particles in urine. An osmolality test can also be used for the blood to see the number of solutes present. These tests are then helpful in diagnosing and treating patients.

Buddhism Essays (1386 words) - Yogacara, Buddhist Practices

Buddhism Buddhism, one of the major religions of the world, was founded by Siddhartha Gautama, the Buddha, who lived in northern India from 560 to 480 B.C. The time of the Buddha was one of social and religious change, marked by the further advance of Aryan civilization into the Ganges Plain, the development of trade and cities, the breakdown of old tribal structures, and the rise of a whole spectrum of new religious movements that responded to the demands of the times (Conze 10). These movements were derived from the Brahmanic tradition of Hinduism but were also reactions against it. Of the new sects, Buddhism was the most successful and eventually spread throughout India and most of Asia. Today it is common to divide Buddhism into two main branches. The Theravada, or "Way of the Elders," is the more conservative of the two; it is dominant in Sri Lanka, Burma, and Thailand (Berry 23). The Mahayana, or "Great Vehicle," is more diverse and liberal; it is found mainly in Taiwan, Korea, and Japan, and among Tibetan peoples, where it is distinguished by its emphasis on the Buddhist Tantras (Berry 24). In recent times both branches, as well as Tibetan Buddhism, have gained followers in the West. It is virtually impossible to tell what the Buddhist population of the world is today; statistics are difficult to obtain because persons might have Buddhist beliefs and engage in Buddhist rites while maintaining folk or other religions such as Shinto, Confucian, Taoist, and Hindu (Corless 41). Such persons might or might not call themselves or be counted as Buddhists. Nevertheless, the number of Buddhists worldwide is frequently estimated at more than 300 million (Berry 32). Just what the original teaching of the Buddha was is a matter of some debate. Nonetheless, it may be said to have centered on certain basic doctrines. The first of the Four Noble Truths, the Buddha held, is suffering, or duhkha. By this, he meant not only that human existence is occasionally painful but that all beings; humans, animals, ghosts, hell- beings, even the gods in the heavens; are caught up in samsara, a cycle of rebirth, a maze of suffering in which their actions, or karma, keep them wandering (Coomaraswamy 53). Samsara and karma are not doctrines specific to Buddhism. The Buddha, however, specified that samsara is characterized by three marks: suffering, impermanence, and no- self, or anatman. Individuals not only suffer in a constantly changing world, but what appears to be the self, the soul, has no independent reality apart from its many separable elements (Davids 17). The second Noble Truth is that suffering itself has a cause. At the simplest level, this may be said to be desire; but the theory was fully worked out in the complex doctrine of "dependent origination," or pratityasamutpada, which explains the interrelationship of all reality in terms of an unbroken chain of causation (Conze 48). The third Noble Truth, however, is that this chain can be broken, that suffering can cease. The Buddhists called this end of suffering nirvana and conceived of it as a cessation of rebirth, an escape from samsara. Finally, the fourth Noble Truth is that a way exists through which this cessation can be brought about: the practice of the noble Eightfold Path. This combines ethical and disciplinary practices, training in concentration and meditation, and the development of enlightened wisdom, all thought to be necessary. For the monks, the notion of offering extends also to the giving of the dharma in the form of sermons, to the chanting of scriptures in rituals (which may also be thought of as magically protective and salutary), and to the recitation of sutras for the dead (Corless 57). All of these acts of offering are intimately involved in the concept of merit-making. By performing them, individuals, through the working of karma, can seek to assure themselves rebirth in one of the heavens or a better station in life, from which they may be able to attain the goal of enlightenment. Zen Buddhism Zen or Chan Buddhism represents a movement within the Buddhist religion that stresses the practice of meditation as the means to enlightenment. Zen and Chan are, respectively, Japanese and Chinese attempts to render the Sanskrit word for meditation, dhyana (Coomaraswamy 94). Zen's roots may be traced to India, but it was in East Asia that the movement became distinct and flourished. Like other Chinese Buddhist sects, Chan first established itself as a lineage of masters emphasizing the teachings of a particular text, in this

Short answer discussion for Industrial Relations in Australia Assignment

Short answer discussion for Industrial Relations in Australia - Assignment Example Within the organization, employees and management have different ways of interaction. Among the many ways in which management and employees interact within a work environment involve various variables that influence how employees and management view the work environment. Pluralism, unlike unitarism, is involved in deliberating how employees’ demands can be met at the work environment. Unitarism focuses on the welfare of the organization and both employees and management work towards meeting various goals and organization-wide objectives. For unitarism, the organization comes first and stakeholders understand that through collaborative effort, they are able to satisfy the mission and vision of the organization. Pluralism on the other hand, is richly accustomed with considering employee demands and allows employees to voice their demands. According to Marxists, the employment relationship is in many instances resembling a battle between capitalists and labor. As employers and employees interact, the Marxist view shows the inherent imbalance of power. In one sphere, the capitalists drive their businesses and organizations towards growth and development. In order for capitalists to accumulate wealth and impact the economy, policies that control how employees approach work are designed and implemented. On the other hand, labourers take the capitalist approach as problematic as it masks the freedom to make decisions and voice demands. Through the struggle for power and fair treatment, employees seek the aid of trade and labour unions in negotiating their terms to the employers/capitalists. In Australia, the role played by state agencies as parties to employee relations include, but it is not limited to, the proposal and implementation of protective laws to ensure that employers and employees can shed of some of the industrial disputes registered between 1890s and 1990s. From

Why have Turkey's leaders found it hard to accomodate the aspirations Essay

Why have Turkey's leaders found it hard to accomodate the aspirations of many of the Kurdish population. Has there been Significant development on this since 1970 - Essay Example e development of a reasonable solution.1 This essay tries to determine the reason Turkey’s leaders found it hard to accommodate the aspirations of many of the Kurdish population. This essay argues that the strong nationalist tendencies within Turkey are the primary reason for the failure to resolve the Kurdish issue. The analysis looks at the development in Turkish-Kurdish relations since the 1970s. Without successfully resolving the Kurdish issue Turkey will continuously fail in its attempt to become a full member of the European Union (EU). Turkey will be forced to change its oppressive ideological foundations, and may fail to realise its full economic capability. But specifically, the country will continue to be engaged in its undying commitment to secure the nation. The capacity of Turkey’s leaders to resolve the Kurdish conflict has been impeded by too much politicisation that viewed the Kurdistan Workers’ Party (PKK) as a persistent hazard to the country. The Kurdish conflict aggravates the progressing inflation in Turkey and is the primary root of human rights abuses, and the greatest threat to the Turkey-EU relationship. In spite of the forceful Turkish military attempt and several substantial achievements in dealing with the PKK rebellion, the struggle continues. Turkey’s leaders realised that the European political system had been evolving. Thus, they understood the need to reform the country’s political structure to align it with the emerging European political system. In short, they know that the successful conclusion of the customs union relied on Turkey’s success in the arena of human rights, parliamentary democracy, and the Kurdish question.2 Thus, Turkey carried out definite reforms to abolish several anti-democratic policies, which had been established by the military regime. Furthermore, several reforms were instigated so as to advance the country’s human rights condition and to find a solution to the Kurdish issue. More

Management Plannin in Global Crossing Essay Example | Topics and Well Written Essays - 1000 words

Management Plannin in Global Crossing - Essay Example Among the various services offered are those in its ‘Fast Track’ program, such as dedicated internet, on-demand video and audio conferencing, long distance services and VOIP. Two programs offer customers the ability to market the services under their own name brand or through co-branding. Physical locations include Pennsylvania, Indiana, California, Florida, and New York in the US. Overseas locations include Argentina, Great Britain, Ireland and Hong Kong. Extensive cable networks, phone lines, routers, servers and technical equipment must be maintained at an optimum level to provide the extensive services that the organization offers. There are communications experts, IT professionals, financial managers and customer service representatives that must work efficiently to maintain all the accounts that are served. Executives and top decision makers must determine current market demand based on information provided by managers of marketing and sales. They must then make de cisions about infrastructure such as whether certain networks in specific locations should be upgraded. They rely heavily on the technical managers to assist with tasks in this area. Decision makers must also determine future needs of current customers, based on technology trends and usage. Decisions on what types of services and how they will be delivered are critical.

Should High School Students Attend a 2 year Community College then Research Paper

Should High School Students Attend a 2 year Community College then Transfer to a University, or go Straight to a 4 year Universi - Research Paper Example The four years University programs however are taken after enrolling for a specialized degree in an accredited institution. These universities may or may not be privately funded; however the expenses are definitely higher than the two years community college programs. As a general perception, students who are highly competitive and belong to high income groups are directly enrolled for these four years programs and once they get done with their degrees they get highly paid corporate jobs. This is the reason why the capitalist system strongly supports the university programs as the rigorous educational environment equips the individuals to compete for the highly competitive jobs. Community College programs were initiated from the beginning of the 19th century, while the enrollment rate was considerably low at that time. The scope of these community colleges at that time was limited as the students registered for these programs were strictly enrolled to study arts and humanities subjec ts. The Great Depression that hit U.S in the 1930`s owed much to the enhancement in the enrollment rate of students in these community colleges. Now the scope was widened as the students were now being trained to compete for job positions to reverse the effect of the economic depression. The 1960`s saw the most drastic explosion in the cultivation of community colleges and by the 1980`s about 4.3 million American students had been enrolled in these community colleges. Talking about the new century, about 1,076 community colleges had already been produced and the number has only been increasing ever since (Kasper, 2003). This ever increasing boom in these community colleges is an effort to make college education available to all Americans, irrespective of their ethnicities or backgrounds. These community colleges also aim to support international students in their struggle to pursue quality education (Chow, 2007). Thus, community college is a convenient alternative to the University education which is too expensive to be acquired by a common man. University education has become more of a privilege as those who belong to the lower income groups have to face a lot of hardships to get into a reputed university; the state funded universities are no exception to this rule. Let us suppose for a moment here that community colleges cease to persist, and all we`re left with are university degrees. In such a case, it is crucially important to analyze the future of those 29% prospective students with an annual income lower than $20,000 who attend a community college as a pre-requisite to a four years university program. Also, 35% of the students attending community college are those who have other dependents relying on their income, in the presumed scenario the future of these prospective students would be at stake. These community colleges are aiming at making an effort to bring higher education at the doorsteps of all kinds of people. The international students have to pay an even higher amount to get enrolled for these university programs, thus if they get enrolled for a two years community college program, they can save a lot of money which they can later utilize to get admitted to universities where they can complete the rest of the two years and thus compete for the relevant market positions. Community colleges

Smoking research paper Example | Topics and Well Written Essays - 1750 words

Smoking - Research Paper Example Mr. Prabhat Jha has also stated in the his online publication â€Å"Analysis† that, â€Å"unless there is widespread cessation of smoking, approximately 450 million deaths will have occurred as a result of smoking by 2050 and most of these will occur in current smokers†( 655). Here is some light thrown on the data about smoking prevalence worldwide with reference to Center for Disease Control and Prevention, â€Å"An estimated 45.3 million people, or 19.3% of all adults (aged 18 years or older), in the United States smoke cigarettes. Cigarette smoking is more common among men (21.5%) than women (17.3%)† (â€Å"Center for Disease Control and Prevention†). â€Å"Cigarette smoking is the leading cause of preventable death in the United States, accounting for approximately 443,000 deaths, or 1 of every 5 deaths, in the United States each year† (â€Å"Center for Disease Control and Prevention†). As per Mr. Jha publication, around 1.1 billion peopl e smoke across the globe out which almost 80% belong to developing nations. Ratio of male to female smoker is 49:8 in such nation in contrast to developed nation where ratio is 37:21.China has the highest smoking population above 15 years of age followed by India, Indonesia, Russia, United States, Japan, Brazil, Bangladesh, Germany and Turkey (655). Graph curtsey - (Cancer Research UK) 2012. This graph represents worldwide tobacco epidemic, demonstrates initial rise and subsequent drop in the rate. Countries from northern Europe have shown remarkable drop in the percentage of smokers compared to rest of the world. (Cancer Research UK) Smoking is injurious to health- As per the National Cancer Institut

Harnessing Information Management, the Data, and Infrastructure Essay - 1

Harnessing Information Management, the Data, and Infrastructure - Essay Example A good information management system must therefore be able to evaluate the kinds of data/information a firm needs in order to function and progress well in all its operations. Taking American wireless as an example, information management can be seen to influence various aspects its performance. First and foremost, it is important to note the main usage information is to set strategies and accomplish firm’s objectives. By having efficient information management American Wireless will first and foremost benefit from a reduced operating cost (Brien, 2007). Proper information management considerably reduces per linear foot of records to store inactive records in data record centers verses doing the same in an office. A better information management also helps in improving efficiency and productivity. Through a well-managed information system acting as an asset will facilitates a firm’s operation and enables it to objectively evaluate their usage of information (Laudon & Laudon, 2000). This system will help American wireless to accurately lay out a roadmap for improvements that optimize business returns. An effective information management can a lso help a firm to make better decisions in its daily operation (Perks & Beveridge, 2003). Most firms with accurate and relevant information will always take the day as far as competition is concerned. Through a well-managed information system, a firm can therefore be guaranteed quality information they need when they need. Enterprise architecture can be said to be a framework upon which structure and operations of a firm is defined. It is a conceptual blueprint through which a firm determines how to react to disruptive forces by identifying and analyzing the execution of change toward desired business vision and outcomes (Brien, 2007). Enterprise Information architecture adopted by American Wireless will help the firm

Improved Management Decision Making Essay Example for Free

Improved Management Decision Making Essay Managers at all levels of a business are required to make decisions constantly. Whether it be at an often low risk operational level, or at high importance strategic level, precise analysis is essential, failure on doing so could end in disaster in businesss unforgiving world. Evidence of this can be seen in the strategic level of Dell management in 2004. A poor decision to enter the market with their DJ.Ditty MP3 player, Dell failed to address any strong marketing campaign along with failure to analyse stronger substitute products concluded in Dell discontinuing the product two years later in 2006. The decision made in the development of the product were likewise poor as rival companies such as Apple and Zens product features far overpowered Dells weak product. (Laubacher 2011). Simple research into Information Systems tells us they are able to display information that can lead us to answer questions we are often queried with. But often management decisions are not just simple rhetorical answers but strategic procedures that will aid the business in specific ways. In this essay I will assess the different methods of how IT based systems through the means of Information systems can aid management decisions or, if they do at all. (C.Lucas 1994)In his book information systems concepts for management, defines an IS as a set of organised procedures, that when executed, provides information to support organisation. The information is a tangible or intangible entity that serves to reduce uncertainty about some state or event. (Oz, Jones and Gowthorpe 2009) Back this definition up stating an IS system is a computer based set of hardware, software and telecommunications components, supported by people and procedures to process data and turn it into useful information. The information system can then be divided up into different subsystems with varying goals that help gear towards the organisations main goal. It is clear that ISs are significant in the day to day operation of a business. The fact that ISs can answer question is indisputable, but the process in which they answer them and the form of answers they give can be debated. Synergy defines the combined resource output exceeding the total output of the same resources if they were employed separately (Oz, Jones and Gowthorpe 2009). This theory can be stretched as far as the four stages of processing that an information system goes through. Input is the first stage of this process which is entered by the human. The next three stages include the processing of the IS system, these include changing and manipulating the data, extracting the information out of the information system and finally storing the information that the IS system has administered. This is a great example of synergy, the IS system calculates the data at a quicker and cheaper cost than if a human were to do it, but the IS system first needs input from an event or scenario from a human, this evidence of synergy. (C.Luckem 2002) Theory on complex event processing relates to this very well. He defines each business action (be this internal with staffing decisions or external with customers through sales) taking several stages of events to reach a final state and in todays technological driven domain ISs play a very Important role in each of these states. He relates to the use of ISs gathering and storing of data, sharing of information and the ability of systems to automate and often control components playing a vital part of CEP. ISs that relate to CEP are systems such as Supply Chain Management, according to (B.Handfield and L.Nichols 1999) Is a set of approaches utilized to efficiently integrate suppliers, manufacturers, warehouses, and stores, so that merchandise is produced (often by computer aided design) and distributed at the right quantities, to the right locations, and at the right time, in order to minimize system wide costs while satisfying service level requirements It is easy to see how this can be related to management decision making, at each stage of a process with the use of SCM managers can stop the process and analyse production rates, therefore using IS systems to make a decision, which In the case of SCM means utilising every process so that wastage is at a minimum and costs remain low throughout production . Luckem further expresses that the use of IS systems in CEP does not function with remotely one source but needs both the Human and IS system to work collectively for any form of process to work accordingly. Although(Bider 2010) argues the reliability of information processed by ISs. He states that human error can often be the cause of incorrect data. This is not uncommon; often as information is filtered through the information map from department to department human error can cause faults. So an argument could be formed that managers can often put great analysis into ISs, but decisions can be made using the wrong output from the system. In relation to the four stages of processing, this output can then be stored incorrectly meaning any future decisions based on this first problem will not aid the answer process as the information will be incorrect. There are other types of systems that can significantly aid decision making DSSs or Decision Support Systems are systems that aid making decisions through the use of built in models. (Turban 1995) Defines it as an interactive, flexible, and adaptable computer-based information system, especially developed for supporting the solution of a non-structured management problem for improved decision making. It utilizes data, provides an easy-to-use interface, and allows for the decision maker’s own insights. DSSs are comprised of three modules data management, model management and dialog management or in profit terms (actual prior, possible sales, possible revenue, and possible profit). Using these modules DSSs helps find an ideal course of action, able to analyse and finally answer questions that are often asked upon humans, What if or How will this action impact revenue are example. DSSs are able to process raw data, and draw comparisons to generate information to aid a business decision. Although (Jensen, B.Lowry and Jeffery 2011) argue that the now more wide spread use of Decision Support Systems due to the increase in technology used in business today should not replace the decision making of a human. They argue that although It is often difficult for people to assess credibility correctly in face-to-face interactions but argue the use of DSSs cannot be used as an absolute decision making process The capability of face-to-face interactions is critical to effective communication and decision making. Their views can be seen as somewhat old fashioned when relating to decision making. Similar to DSSs are Strategic information systems. The root of this system is based upon Michael E. porters Concept of competitive advantage. This concept analyses the strategic steps a business undergoes to gain an advantage over its competitors. According to (E.Porter 1998), SIS works by enhancing opportunities through analysing competitors, recording seller patterns, identifying potential substitute products and finally retrieving information on keeping a healthy share in the businesss market. All of these should aid a business to create a competitive advantage through the means of SISs. The storing of data and analysis of this data is what managers will use to make decisions. In both the DSSs and SISs the analysis will often plan out a possible route in which the business may take to achieve its aims. It is then up to management to take these recommendations on board through adopting the ideas or not. IS used in the hierachary of a business are important to assess, at an operational level Systems used will be Transactional Process systems are Electronic point of sale, both of these systems allow managers to analyse structured data and draw conclusions for themselves, examples of this maybe the management of stock ordering to improve on wastage, or assessing what product sells at an appropriate time. These systems can then be assessed by the tactical level that may use the means of DSSs to assess new pricing strategies to adapt to the operational level through the help of DSSs but on the evidence of data outputted by TPSs or EPOS. The next and final stage will be the use of the systems at a strategic level. Strategic level will use DSSs and Executive information systems (similar to DSSs but often seen as more precise and concentrated form of system) along with unstructured data which occurs through the means of meetings, conversations and emails .Furthermore strategic level generally have access to IS of all subordinates ISs to help make decisions as well as ISs linked together with external commercial services, such as the latest stock prices and general business news are also common. It is clear that ISs aid management decisions, but in context of this it is important to assess the characteristics of the managers, as well of the management styles. For example managers that adopt an autocratic style of management will be less interested in staff well-being which may affect their reaction to support they receive through IS systems, meaning they may adopt any plans a DSS comes up with whether or not it has a negative effect on staff. Democratic style managers may rely heavily on the data produced from systems of their subordinate. When assessing the improvement of decision making through the means of ISs, I feel it is important to assess manager characteristics, it is clear that there are systems that aid the decision making process but as (Bider 2010) stated there can be human error caused through the input of a system which may lead to poor decision making. I feel steady analysis through each stage of the input process will allow data to be used correctly, therefore being pivotal in decision making process and consequently improving them. Bibliography B.HANDFIELD, Robert and L.NICHOLS, Ernest (1999). Introduction to Supply Chain Management. vol.1. 1st ed., Prentice Hall. Business Using IS , BIDER, IIia (2010). Enterprise, Business-Process and Information Systems Modeling. vol.50. 1st ed., Queensland, Springer. 364213050X. C.LUCAS, Henry (1994). Information systems concepts for management. 5 ed., indiana, Mitchell McGraw-Hill. 11. C.LUCKEM, David (2002). The Power of Events: An Introduction to Complex Event Processing in Distributed Enterprise Systems. 1 ed., Addison wesly. 1. E.PORTER, Michael (1998). Competitive advantage: creating and sustaining superior performance : with a new introduction. Havard, Simon and Schuster. JENSEN, Matthew, B.LOWRY, Paul and JEFFERY, Jenkins (2011). Effects of Automated and Participative Decision Support in Computer-Aided Credibility Assessment. Journal of management information syetems, 28 (1), 201-233. LAUBACHER, Robert (2011). Managing Corporate Reputation in the Blogosphere: The Case of Dell Com puter. Corporate Reputation Review, 14 (2), 133-144. OZ, JONES and GOWTHORPE (2009). Finacial and Management Informatoin. vol.2. London, Cengage Learning. TURBAN, Efriam (1995). Decision support, And what they do? In: Decision support and expert systems : management support systems. Englewood cliffs, Prentice Hall, p.576.

The Offer Contract Agreement

The Offer Contract Agreement Offer Contract Agreement Peter acquired a Degas painting. On 2nd May, he sent a telex message to Manjit that he was prepared to sell the Degas painting to her for  £240,000, but that he must receive an answer within seven days. Manjit replied immediately by telex, stating that she was willing and that she would pay for it in monthly instalments of  £20,000 each. On 3rd May, Manjit received a telephone message from Peter that he would prefer six monthly payments of  £40,000 for the painting. The following day, Manjit sent a letter to Peter which stated, I agree to pay monthly payments. Please arrange for the delivery of the painting on 10th May. Unfortunately, her letter reached Peter on 12th May. On 11th May, in response to a magazine advertisement Manjit contacted the seller Victoria over the phone and left a message on her answering machine, stating that she would buy the Van Gogh painting for  £201,000. On 15th May, both Peter and Victoria arrived at Manjits office, each claiming that she was contractually bound to buy their respective paintings. As Manjit had received a letter from her accountant that morning warning that her business was in some difficulty, she now states the she does not wish to buy either painting. Advise Manjit. In English Law in order to form a contract, the following elements have to be present: A valid offer has been proffered by the first party to the other party or parties. The offer has been accepted unchanged by the second party or parties and this has been communicated to the offeror. There is an intention by all parties to create legal relations, when they enter into the contract and the parties have the capacity to contract. The promises made within the contract are for valuable consideration. The terms of the contract are certain. An offer is defined as an expression of willingness to contract on certain terms, made with the intention that it shall become binding as soon as it is accepted by the person to whom it is addressed, the offeree. The expression referred to in the definition can have various forms, such as a letter, newspaper, fax, email, conduct (http://en.wikipedia.org/wiki/Offer_and_acceptance), etc., and the main criterion is that it has to perforce communicate the basis on which the offeror is prepared to contract. The courts will judge the aspect of intention, referred to in the definition, objectively. In Smith v. Hughes it has been emphasized that the important thing is not a partys real intentions but how a reasonable person would view the situation (http://en.wikipedia.org/wiki/Offer_and_acceptance). This is attributable to the reason that in accordance with common sense neither party would wish to breach their side of the contract if it would make them culpable to damages. Acceptance is a final and unqualified expression of assent to the terms of an offer (http://en.wikipedia.org/wiki/Offer_and_acceptance). A defendant cannot claim that it was never his intention to be bound by the agreement if it is established during trial that his action served to communicate to the other party or parties that he had in fact agreed. Assent may be exhibited in a variety of ways and one of them is by the signing of a contract or it might consist of a promise to pay someone if the latter performs certain acts and may be accepted by the requested conduct instead of a promise to do the act. The performance of the requested act confirms that the party has agreed to the terms of the offer. What is required, without fail, is that there should be evidence that each of the parties had, from an objective perspective, engaged in conduct manifesting their assent. This requirement of an objective perspective gains importance in cases where one of the parties claims that an offer had not been accepted and thereby takes advantage of the performance of the other party. In such instances the test of whether a reasonable bystander would have perceived that the party has impliedly accepted the offer by conduct is relevant. The rules of acceptance are: The acceptance must be communicated, this implies that depending on the construction of the contract, the acceptance may not have to come until the notification of the performance of the conditions in the offer, in as in Carlill v. Carbolic Smoke Ball Company (http://en.wikipedia.org/wiki/Offer_and_acceptance), where the defendants, the proprietors of a medical preparation called the carbolic smoke ball, issued an advertisement to the public, in which they offered to pay  £ 100 to any person who contracted influenza after having used one of these smoke balls in a manner specified by them and for a specified period. However, it is important to note that this offer was unilateral or open to the whole world to accept. In the absence of such an unilateral offer advertisements are nothing more than an invitation to treat. In Partridge v. Crittenden it was held that the offer for sale of certain wild birds, which was illegal, was deemed to be, by the High Court as an invitation to treat and not offers for sale. An offer can only be accepted by the offeree (http://en.wikipedia.org/wiki/Offer_and_acceptance). An offer is not bound if another person accepts the offer on his behalf without his authorisation (http://en.wikipedia.org/wiki/Offer_and_acceptance) . It may be implied from the construction of the contract that the offeror has dispensed with the requirement of communication of acceptance (http://en.wikipedia.org/wiki/Offer_and_acceptance). If the offer specifies a method of acceptance then such acceptance must be made using a method that is no less effective than the method specified (http://en.wikipedia.org/wiki/Offer_and_acceptance). Silence cannot be construed as acceptance, as held in Felthouse v. Bindley(http://en.wikipedia.org/wiki/Offer_and_acceptance). The power of acceptance is always terminated by rejection or counter offer by the offeree, revocation by the offeror prior to acceptance, lapse of time, debt or incapacity of the offeror or offeree. In Carlill v. Carbolic Smoke Ball Company there was an advertisement that consumption of a smoke ball in the prescribed manner would protect the consumer from influenza. The plaintiff believing in this advertisement bought one of these carbolic balls and used it in the prescribed manner and for the prescribed period but nevertheless contracted influenza. The court held that the plaintiff was entitled to recover the promised amount. However, the acceptance must be communicated and before acceptance, an offer can be withdrawn. In our present problem, Peter an art dealer was in possession of a Degas Painting which he offered to sell to Manjit, another art dealer for  £ 240,000/-, with the condition that acceptance had to be communicated to him within seven days. To this Manjit replied by telex that she was willing to purchase the painting and that she would pay in monthly installments of  £20,000/-. Manjit’s telex message cannot be considered to constitute acceptance since she had made a counter offer to Peter. From the above it is evident that legally, Manjit had made a counter offer to Peter and not an acceptance of his offer according to the provisions of the contract act. An offeror can revoke an offer before it has been accepted, but such revocation has to be communicated to the offeree. After receiving Manjit’s counter offer, Peter again made an offer to pay for the painting by six monthly installments of  £ 40,000/- each by telephone on the 3rd of May. Manjit indicated her acceptance by a letter, which she posted to Parker on the 4th of May. The letter was correctly stamped and addressed but nevertheless it was received by Peter only on the 12th of May. An offer will remain in force until: First, its revocation by the offeror any time before acceptance and such revocation is communicated to the offeree. Second, it is rejected by the offeree due to a counter offer. Third, the offer lapses due to the expiry of a stipulated time limit. Fourth, a contract condition has failed. Finally, if the offeror has expired and notice of such demise is received by the offeree. In Hyde v Wrench , Wrench offered to sell his property for  £1200 to Hyde. When Hyde rejected that offer, Wrench made a further offer to sell for  £1000. Hyde replied that he would buy the property if offered for  £950, but Wrench refused to sell for this amount. Subsequently, Hyde wrote to Wrench that he would buy this property for  £1000. The Court of Chancery held that Hyde had rejected both offers made by Wrench and that an offer, once rejected, cannot be revived. Accordingly, there was no contract in existence and consequently, the action was deemed to have failed. These facts clearly indicate that Hyde made a counter offer and also tried to accept an offer which he had previously rejected. Therefore, in accordance to the case law discussed above, an offer which was rejected in the first instance by the offeree cannot be accepted later on in order to create a legally binding contract. In our present case Peter made an offer to Manjit for selling the painting for a specified amount. Manjit made a counter offer in which she offered to pay by installments. Peter was not agreeable to the number of installments and accordingly, he made another in which the number of installments was reduced. Manjit accepted this offer but according to the Hyde v Wrench decision, Manjit cannot rely on the original offer since she made a counter offer subsequently, therefore there is no valid contract between Peter and Manjit. If the offeree rejects the offer, the offer has been destroyed and cannot be accepted in the future. Even otherwise, she had posted her letter of acceptance on the 4th of May, which reached Peter only on the 12th of May, in which she had made a time stipulation for the delivery of the painting by the 10th of May. However, since the letter, which was correctly stamped and addressed, was received only on the 12th of May, i.e. after the 10th of May by Peter, the contract is invalid. Consequently, Manjit is under no legal obligation to purchase the Degas painting from Peter. In respect of Victoria, on the 11th of May, Manjit saw a magazine advertisement in which Victoria had offered to sell a Renoir painting for the first offer above  £200,000. Manjit contacted Victoria over the phone and left a message on her answering machine, stating that she would buy this painting for  £201,000. The legal aspects to be considered are whether an advertisement constitutes a valid offer or not. Advertisements are termed as an invitation to treat and hence they do not constitute an offer, but only an indication of a person’s willingness to negotiate a contract. In Pharmaceutical Society of Great Britain v Boots , Boots were prosecuted for selling drugs in the absence of a qualified pharmacist. The procedure was that a customer, on entering the store was given a shopping basket and this customer after having selected which medicines to purchase, would place them in this basket and take them to the cash desk. In the vicinity of the cash desk a registered pharmacist would be available. The statute has made it unlawful to sell any listed poison unless the sale was effected under the supervision of a registered pharmacist. The Plaintiffs allegation was that the display of goods was tantamount to an offer which could be deemed to have been accepted when the customer put these drugs in the shopping basket, therefore, if the drugs were poisons then their sale took place at an instant of time which was prior to the pharmacist’s intervention. The Queens Bench and the CA rejected this argument, because they held that the offer to purchase originated from the customer only when the article was placed in the shopping basket and that the defendants had the choice to accept or reject this offer. Whenever, this purchase offer was accepted it was at the cash desk, where a registered pharmacist was available. Therefore, the courts held that there was no breach of the Act. In Harvey v. Facey, an indication by the owner of the property that he might be interested in selling at a certain price was regarded as an invitation to treat (ITT). Similarly, in Gibson v. Manchester County Council the words â€Å"may be prepared to sell’ were held to be a notification of price and therefore not a distinct offer. The courts have taken a consistent approach in respect of the identification of invitation to treat, as compared with offer and acceptance, in common transactions. The display of goods for sale, either in a shop window or on the shelves of a self service store, is ordinarily treated as an invitation to treat and not an offer, this was held by the judges in Fisher v. Bell. In Entores Ltd v. Miles Far East Corporation the contract was entered into when and where the acceptance was received. Lord Denning confirmed that the same principles also applied to acceptances by telephone. In respect of answering machines and voice mail the maximum delay for receipt of acceptance would be the next working day. Faulty hardware, lack of link paper or slipshod business practices, such as not checking the fax for days, does not stop or delay the acceptance of an offer. In our case Manjit in response to the advertisement given by Victoria for sale of the painting, placed a message in Victoria’s answering machine stating that she would buy the painting for  £ 201,000/-. Victoria’s magazine advertisement constitutes an invitation to treat and the message left by Manjit constitutes an offer to purchase the painting. This message was left on the answering machine by Manjit on the 11th of May. Victoria did not respond to this message but went on the 15th of May to Manjit’s office and insisted that Manjit should purchase the painting as there was a contract between them. Since, in this case there is no acceptance by Victoria, there is no binding contract. Therefore, Manjit need not buy the painting from Victoria. In this manner Manjit is not under any legal obligation, whatsoever, to perform these contracts as demanded by Peter and Victoria. Bibliography P.S Atiyah ‘Consideration: a restatement’ in Essays on Contract, Oxford University Press, 1986. P.S Atiyah ‘An introduction to the law of contract’ 5th ed., Clarendon Press Oxford, 1995. H.G Beale, W.D Wishop, M.P furmston, ‘Contract: cases and materials’ 4th ed., Butterworth, 2000. M. Cope ‘Duress, undue influence and unconscientious bargains’, Monash studies in law, The law book company Ltd, 1985. E. McKendrick ‘Contract law’, 4th ed., Palgrave law masters, 2001. G.H Treitel ‘The law of contract’ 10th ed., Sweet and Maxwell, 1999.

Life Is But A Choice Essays -- essays research papers

Life Is But A Choice Beginning with the time of birth until the time of death, people have to make choices everyday on how to achieve the goals in their lives. One can imagine life as a long winding road with millions of other roads branching off in many directions. The only problem is that life is too short to explore every single road. In addition, the essence of time will not allow anyone to go back to a road that was passed. Everyone must choose his/her own roads through life regardless of what other people might think. Robert Frost wrote in The Road Not Taken, " I took the one less traveled by And that has made all the difference "(Frost 423). By managing ones time efficiently and making clear rational choices, one can achieve a healthy mind, body and spirit. One important choice in life is having a healthy mind. The key to achieving a healthy mind is to be open minded. Since the day we are born, we are bombarded with information from television, radios, books, magazines, and what we observe personally. The world is filled with a vast amount of information and each individual is responsible for obtaining, understanding, and making value judgments on this information. One must understand the world around him before he can understand himself. Making the choice of obtaining a college education is extremely important in the world today. There are so many different areas which ro choose. Each individual must find w...

DVD Vs. VCR :: essays research papers

INTRODUCTIONThis report will strive to clearly discern the differences between the average home Video Cassette Recorder (VCR) and the recently developed Digital Video Disc (DVD) system. These two home entertainment components have very clear differences. It is important for consumers to carefully consider each of these concerns before deciding on the home entertainment component that is right for them.When considering the purchase of a home VCR or DVD system, consumers should carefully examine the varying costs of the two components. If cost is a concern, consumers should pay special attention to the purchase price of both systems, as well as the cost of movies and maintenance. A second consideration of consumers when choosing between VCR and DVD should be the video and audio quality. Various technical factors can alter the quality of both picture and sound in both of these systems, making picture and audio quality a major consideration when shopping for home entertainment components .A final consideration that consumers should give special attention is the accessibility of the systems. In today’s growing entertainment market, the difficulty in accessing video and DVD movies can play a large part in the decision of which component is right for the consumer.METHODSThe beginning of any research project is in the decision of a topic to research. I chose to research the differences between the VCR and DVD home entertainment systems because the intricacies of the systems and the ways in which they work greatly interest me. I began my work using ordinary encyclopedias, found in the Rosewood High School branch of the Wayne County Public Library. Due to the technical nature of my topics, there was very little information in the encyclopedias dealing with these topics. While I did receive some information on the background of home entertainment systems, especially the VCR, most of my research had to be found from other sources.I continued my research into the diff erences between these two systems, using the Microsoft Encarta Multimedia Encyclopedia. Through this source, I discovered a great deal of information on how the VCR works. However, little information was to be found on the DVD home entertainment system. For this information, I was forced to search the Internet, where a wealth of information exists. After a general search for DVD, I found several web sights discussing the pros and cons of DVD, as well as the intricacies of how it operates.After making notes of all of the information I had gathered, I proceeded to sort the notes into separate groups dealing with the VCR and DVD.

Human Nature in Lord of the Flies :: Free Essay Writer

Human Nature in Lord of the Flies Good morning/afternoon Mrs. Visser and class, I will be speaking about human nature and what it means to be human. Now what does it truly mean to be human and what makes us human? The main thing about humanity is we see ourselves as superior to nature and the animals in it. We see this in Lord of the Flies when the boys first land on the island. Even though there are animals and plants on the island they disregard it and claim the island as their own. Now what would make man superior to nature, his ability to think? To alter his surroundings to make his life easier? Arrogance or how about that it is how it is always been? Man seems to try and force his views upon others, through different means. Jack for example uses fear and manipulation to control his tribe, while Ralph hung onto the values he was taught in society. Now behind Ralph was piggy, who in the novel represented man’s knowledge and civilized man’s ideals. He was the one Ralph turned to when he was in doubt about what he must do, about what the civilized thing to do would be. Behind Jack was Rodger who represented the savagery and nature instinct that a human has to survive. Simon represented the spirituality and nature in the book. Simon is also one of those that seek the truth. When the beast is mentioned, he was the first and only person until later on to suggest that the beast was human’s. He was the first person to see that the beast was an internal thing. People like Simon who seek the truth soon find that they are not accepted in society. Simon was laughed at when he suggested that the beast was internal. It is in human nature to try and blame something else for our mistakes. This separates him and makes him an outsider as it is in human nature not to accept the truth. Later on when he finds out who and what the beast is, all the boys help to attack and kill him. This shows that it is in human nature to reject the truth as a lie or even insanity. When Simon dies it shows the death of spirituality and a foreshadowing of what the inherit evil in man will do to nature later on. The inherit evil in man is represented by in the following ways by the following people:

As a Head Nurse Essay

We all must experience have responsibilities beyond our expectation and limitation as we can improve ourselves every now and then. Responsibilities are just within our shoulders as we go on with our lives we add more on to it due to the things we learn and experience and simply being a student nurse responsibility is already on our shoulders as we gained knowledge in every step of the way. As a student nurse, knowledge is easy to get as we experience, learn, read and study. But every knowledge comes with great responsibility, which is to help and share it to others who are innocent about specifically toward to their health. Experiencing being a student head nurse is good as it adds my capabilities to manage my time, and my staff nurses. I have been a leader for some time now but I need more experience to be better than before. I am not at my best now as leader as I haven’t yet experienced every problem and responsibilities but I want to get better than I am now. Being a leader is hard because responsibilities weighs more than you expect, for your time, group and for yourself. But as I experience it once, twice or more to it, it is very helpful due to that I improve from before. Finding myself being a student head nurse is part of being a student but when I experience it was a little hard because I have difficulty at first in coping because it is my first time to lead a group in ER but I can manage. I was a little bit of loss for a minute on how to manage my time but I made a time table on the different things I have to manage from the start towards the end likely checking the works of my group mates and reminding them of the different responsibilities they have to prioritize first on the certain time. I was at ease because I felt blessed that my group mates work with less supervision and questions as the before group mates I have had. Some take initiatives for the different assigned work for our report. They manage to finish it on time and we communicate well. They also show respect with it comes to work as they call me â€Å"ma’am†, which I am not used to, during our shift of duty. I also was glad that I experience new and improved group mates. The things that I experienced as a leader was uncountable and unforgettable, due that I experienced new in every leadership that I account for. Responsibilities are just at our forefront and the moment we move forward it comes our way so we must be ready, so every experience that we take, took it as learning and a good endeavor to become a good leader not for other people but also for yourself.

Barclay Card

The use of Credit cards started during the first half of the 20th century. The cards were initially used to make the process of identification less complex and for confirmation of costumers when authorization was required by tellers for account purchases in retail stores. The process developed, and in the 1940’s, some banks in the united states allowed customers to buy goods and services, and have these charged to against their monthly bank charge account, rather than to a store account Development of competition Early contenders to Barclaycard emerged from their closest competitors.In 1966, prompted by the success of the bank americard network, members of the competing franchises formed the interbank card association (ICA), which was later to become known as MasterCard international. The ICA differed from bank americard in being an organization controlled by member banks which took responsibility for promoting the MasterCard brand and for setting standards for security, autho rization, clearing and settlement systems between members. ICA went international in 1968 with an association with banamex.Barclaycards strategy in the market has been associated with three continuing elements. The fist was the continued growth of the credit card market shown in exhibit 4. over the period 1989-9 the volume of credit card transaction grew at 7. 5 per cent, while debit cards grew at 40 percent. The number of credit cards in use increased by 5 percent by annum and the value of a transaction by 5. 5 percent p. a. The second factor was the relative success of visa, whose UK franchise was exclusively, enjoyed Barclaycard in the early years.Over the years, visa secured a position as the world’s most wildly used card, by 1998 accounting for $ 1. 4 trillion dollars of purchase or 55 percent of the global market. Although the competition between visa and MasterCard was less clear cut in the UK Barclaycard’s visa had international acceptability with 16million mer chants worldwide. Exhibit 5 suggests that although Barclaycard lost market share somewhat faster than the other major banks, the strength of visa’s international position to some extent offset Barclay’s premium pricing.Profitability of Barclaycard Even though Barclaycard was the first and for a considerable amount of time, the only issuer of credit cards in the UK, Barclaycard made some losses during the first decade of its operations, as the company built up its card and merchant volumes. In 1995, Barclaycard acquired 90,000 gold customers, and that launch increased Barclaycard’s market share of newly issued credit cards to more than 30 percent. Processing of Barclaycard transactions Transaction from paper to electronics introduced large economies of scale in processing.This innovation however was characterized by relatively high level, one off investments. Alternative strategic directions open to Barclaycard in its future development Barclaycard should team up more with other companies. For example, the co-operation with Sainsbury, gasoline marketer BP, and department store chain Debenhams in launching new loyalty programs. With every Barclaycard purchase, shoppers should be able to collect points that can be exchanged for gifts like restaurant meals, consumer goods, grocery shopping, flights, and cinema tickets.Barclaycard should also capitalize on the company’s strong customer base by relationship marketing alliances, with leading organizations in other service industries like celnet, BT and Marks and Spencer. Evaluation of alternatives Suitability: On the basis of suitability, the best alternatives available to Barclaycard are to ensure the continued ATM usage of Barclaycard, and to ensure automation through a fully computerized transaction system. This is because cash withdrawal through ATMs is a major customer use of credit cards.The company should also endeavor to eliminate most of the paper work in order speed up the author ization process, and provide narrative statements for card holders. Acceptability: Barclaycard’s ability to monitor and measure credit risk is very crucial to its acceptability. In 2000, the volume of Barclaycard transactions rose by 12 percent, while charges for doubtful and bad debts increased by 34 percent. Financial performance thus suggested that the company’s managers have the responsibility to find customers who were in need of rollover credit, and who were less likely to default on payments.Feasibility: Barclaycard once proposed to charge non-customers heavily for using its machines, a proposal that had to be withdrawn at that time due to heavy persecution from the press. This is not a very good strategy, and should be avoided. Recommended alternatives Barclaycard strategy in the credit card industry has been associated with the continuous growth of the credit card market, its ability to avoid price competition by branding, and also, the relative success of Vis a.Barclaycard should strive to avoid price competition by branding and by using technological developments within the card networks. This is because the intensity of the competition in the credit card business tends to lead to the best credit worthy customers gaining access to credit far more cheaply. Thus it is quite difficult for credit card transaction volumes to increase quickly without inflicting bad and doubtful debts to credit card users.

Unit four: Principles of supporting change in a business environment Essay

Assessment You should use this file to complete your Assessment. The first thing you need to do is save a copy of this document, either onto your computer or a disk Then work through your Assessment, remembering to save your work regularly When you’ve finished, print out a copy to keep for reference Then, go to www.vision2learn.com and send your completed Assessment to your tutor via your My Study area – make sure it is clearly marked with your name, the course title and the Unit and Assessment number. Please note that this Assessment document has 3 pages and is made up of 3 Sections. Name: Andrea Ecsegi Section 1: Why change happens This section will help you to evidence Learning Outcome 1: Understand why change happens in a business environment. Learning objective Place in Assessment 1.1 Explain reasons for change in a business environment Question 1 Page 1 1. Explain why change happens in a business environment. You should include at least three reasons in your answer. [1.1] Change in business environment are become very important, without it they can’t keep up with the demands of the customers/clients as their needs, expectations and requirements are changing frequently and quickly. Consequences of not making any changes can cause loss of customers, business failure or in some cases even breaking the law. We can speak about two  different kind of changes: reactive and proactive changes. The reactive changes are responding to external influences. PEST contains the four main factors of these: political, economical, social and technological. Proactive changes are made as a result of internal demands by a desire to make the business more effective. Some of the reasons can be to lower waste and costs, launch a new product or upgrade IT equipment. Section 2: Supporting change This section will help you to evidence Learning Outcome 2: Understand the purpose of supporting change in a business environment. Learning objective Place in Assessment 2.1 Identify reasons for reviewing working methods, products or services Question 1 Page 2 2.2 Describe types of support that people may need during change Question 2a Page 2 2.3 Explain the benefits of working with others during change Question 2b Page 2 1. Identify the main reasons for reviewing working methods, products and / or services in a business environment. [2.1] In the business environment everything is always changing therefore it is really important to review working methods, products and/or services from time to time. An organisation may want to review its products/services to make sure it still meets with the customers’ requirements and expectations thus they can stay competitive, efficient and productive. Reviewing the working methods can be really useful if the business is not happy with its performance or just simply want to improve and develop. 2. When a business is going through change: a) Describe the different types of support that people may need. [2.2] Some of the people can find changes hard to accept, they can become stressed. These type of people need extra support and help to get use to the new changes. The most common types of support includes: Effective planning: helps to avoid confusion and confrontation. Participation: sometimes staff have opportunity to take part in changes therefore they can feel more comfortable with it. Clear communication, explanations and expectations: gives clarity to employees about the changes will occur, how this will affect their job and why this have to be made. Encouragement: the manager’s behaviour can help to the staff to adapt the changes more easily, they need to be friendly and helpful. Training or retraining: changes in work methods, products and/or services can require training or retraining to get the skills employees might need to keep up with changes and stay effective. Counselling or coaching: support from trained professionals who have experience of helping people to adopt changes. b) Explain the benefits of working with others. [2.3] For employees it can be difficult to accept changes, they might get anxious and stressed. If people are working together they can help each other, talk about problems, share their experience and support each other. Section 3: Responding to change This section will help you to evidence Learning Outcome 3: Understand how to respond to change in a business environment. Learning objective Place in Assessment 3.1 Explain the purpose of responding positively to changes in working methods, products or services Question 1a Page 3 Question 1b Page 3 3.2 Identify ways of responding positively to change Question 1c Page 3 1. In relation to your current business environment (or one that you are familiar with): a) Explain why you should respond positively to changes in working methods. [3.1] Changes in working methods are usually happening to improve and speed up the working process. A positive can-do attitude will result good relationships with others and helps to learn faster and easier. If I resist and don’t accept the new way I should do my job this will generate conflicts and will bring stress to my workplace, others may have to do my work again because it’s not appropriate and also I might slow down the workflow what can result serious problems in the restaurant regarding to customers as well. b) Explain why you should respond positively to changes in products or services. [3.1] Customers’ requirements are always changing and we always have to give the best service/products – we have to make sure these are suitable and efficient – thus changes occur often. If I don’t adopt the change what have been made to serve customers better they might not meet with their needs and will leave the restaurant to find another better place. It is very important to keep up with customers’ demands and market innovations in a restaurant as you can find loads of them especially in central London. c) Identify ways of responding positively to change. [3.2] Employers are looking for people who are willing to change, happy to improve their skills. If I resist and I’m not willing to keep up with improvements I can lose my job as a result people don’t want to work with a passive employee. The most important ways how to respond to changes: Willingness to learn: understand that to learn new skills will serve us on our carrier. Willingness to teach: sharing the information and skills with others will help them to adopt changes. Willingness to solve problems: these  kind of people are looking for solutions and not waiting for others. Employers prefer to employ these type of people. Maintaining a positive outlook: have a happy and can-do attitude. Enjoying the chance to change and adapt: looking at changes as something good and beneficial Once you have completed all 3 Sections of this Assessment, go to www.vision2learn.com and send your work to your tutor for marking.