corporate and business law Essays

corporate and business law Essays corporate and business law Paper corporate and business law Paper corporate and business law BY etu20110952 GASPARD vjrgile LAFITTE Pierre AC504E External auditing Take home case Pacific Sunwear of California Inc Executive summary † 3 The Sarbanes Oxley act: a compliance plan 4 Overview: 4 Summary of the Sarbanes-Oxley 4 The Sarbanes-Oxley act: † 404: Checklist: 5 Auditing standards n05: description of the procedures to comply with the section 5 International standards of auditing in reference with the 6 Processes to comply with the Section case How to comply with the 7 Procedures section 404? mplemented by Pacific Sunwear.. 8 Evaluation of the effectiveness of the process implemented by 9 Impact of the information disclosed on the stock PacSun † 10 Costs and benefits of Sarbanes- Oxley † 13 Recommendations for 15 References. 16 Appendix A : Deadline for the compliance with the different sections of internal the act.. † . 17 Appendix B: Certification required by the SEC about . 9 Appendix C: Certification required by 2 0 the SEC about disclosure controls Executive summary Pacific Sunwear of California entered in the stock market on Nasdaq in 1993. The Sarbanes Oxley act redacted in 2002, established new or enhanced standards for listing companies in the US markets and in particular the section 404 about the creation of an internal report each year, in response to a number of major corporate In this report, we will establish the impact of this United States federal law on PacSun by analyzing the process engendered, influence of the disclosures on the stock price, and the cost/benefits relation. The Sarbanes Oxley act: a compliance plan The Sarbanes-Oxley act enacted in 2002 is a United States federal law to respond to some major corporate and accounting scandals such as Enron, Tyco international or World com. These scandals cost billions of dollars to investors when stock prices collapsed and decreased the public confidence about nations securities markets and auditing standards. So, this standard established new or improved standards and regulations, for all US public company and all foreign companies listed in the US stock markets. This act contains 11 sections and required the Securities and Exchange Commission (US regulator which regulates the securities industry and the stocks and options markets) to implement the rules and comply with the new law. The deadlines to implement SOX are exposed in Appendix 1 . Summary of the Sarbanes-Oxley act: Then, we are going to describe quickly the different sections of the SOX act (except the section 4 explained below): 1 Public Company Accounting Oversight Board (PCAOB): the objective of this board is to register and regulate all public accounting firms to implement compliance standards 2 Auditor independence: creation of standards for external auditor ndependence to reduce conflicts of interest 3 Corporate responsibility: defines the relation between external auditors and corporate audit committees 5 Analyst conflicts of interest: evokes practice to create a new public confidence in the reporting 6 Commission resources and authority: highlights practice to create a new public confidence in the financial analysts 7 Studies and reports: SEC has to make various studies and explain their findings 8 Corporate and criminal fraud accountability: describes criminal penalties for fraud 9 White collar crime penalty enhancements 0 Corporate tax returns requir ed to be signed by the Chief Executive Officer 1 1 Corporate fraud accountability: identified corporate fraud and records classified as criminal offenses The Sarbanes-Oxley 404: Checklist: The section 4 is about enhanced financial disclosures and increases requirements for financial reporting like off-balance sheet transactions. It requires internal controls to offer the accuracy of financial reports and disclosures. An internal control system is failures, or weaknesses in the system that must occur. The section 404 is the cornerstone of the section 4 and demands that each annual eport contain an internal control report. This additional report assesses the responsibility of management for establishing and implementing adequate procedures for financial reporting. This report must include: assessment of effectiveness of internal control structure and procedures, any code of ethics and contents of that code. Consequently, this section is really decisive because it implies extra costs to comply with this requirement for registered public companies in the US stock markets. The Appendix 2 and 3 sum up the certifications required by the SEC. Auditing standards 05: description of the procedures to comply with the section 404 Issued the 24th may 2007, the Auditing standards n05 substitutes the Auditing standards n02. The Public Company Accounting Oversight Board releases the AS n05 to describe the procedures to comply with the section 404: o Highlights a top-down risk based approach (financial risk assessment) o Places greater reliance on entity-level controls o Focuses on understanding and testing controls related to risks for significant accounts and disclosures o Allows for greater ability to rely on work of others o Changes definition of material weakness and significant deficiency: Material weakness: a deficiency, or combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the companys annual or interim financial statements will not be prevented or detected on a timely basis. Significant deficiency: A deficiency or combination of deficiencies, in internal control over financial reporting that is less severe than a material weakness, yet important to merit the attention by those responsible for ove rsight of the companys financial reporting. o Simplifies the auditors opinion by eliminating opinion on managements ssessment of internal control 5 International standards of auditing in reference with the case The section 404 referred to some ISA standards: ISA 230 about audit documentation ISA 300 about planning an audit of financial statements ISA 330 about the auditors procedures in response to assessed risks ISA 500 about audit evidence ISA 600 about using the Work of Another Auditor 6 Processes to comply with the Section 404 After evoking the requirements of the section 404, we will describe the processes implemented by Pacific Sunwear first and by the other listed companies in general. Complying with Sarbanes-Oxley is complex; compliance requires a multiple approach involving many departments and many people which will be detailed below. How to comply with the Section 404? Generally, according to Sanjay Anand an internal control in accordance with Sarbanes-Oxley is following an eight-step process: 1 Establish a compliance committee which is specialist of the compliance with Sarbanesoxley and can have a general overview of the company about the risk and the solutions. The objective of this committee is to commit the various departments, to provide training and to communication about the objectives. Assess risk in order to identify the magnitude and potential impact of each risk in order to create a risk portfolio. 3 Set reporting objectives by determining the probability of risks and errors to define decision rules and reporting objectives. For ensuring internal control compliance, these areas need to be created: personnel control, system and resource controls, strategic planning controls and business service controls. 4 Prepare a formal implementation plan, which is a transition plan to move from project step to a day-to-day operation for an internal control system. Communicate the ongoing procedures by presenting clearly and effectively with the focusing on understanding, acceptance and observance. 6 Provide training implemented by the compliance committee in internal policies, practices and procedures. 7 Document processes and risk management certified by the Chief Executing Officer and the Chief Financial Officer so as to demonstrate the efficiency of the internal control system. Perform continuous evaluation performed by the manager in order to establish and maintain controls and to ensure the appropriate compliance. 7 Procedures implemented by Pacific Sunwear The most expensive costs of compliance were those linke d with the section 404: costs about internal controls over financial reporting. The procedures of compliance are only described for the two first years in the case study: 2004 and 2005. Before the compliance, PacSun had not internal control system. They only created it in mid 2003 and they paid the services of a Big-4 auditing firms as required by the section 404. They expanded the internal control department at the end of 2004. About the procedures they implemented in 2004, PacSun followed a process in five steps: 1) Scope and plan the evaluation 2) Document the controls nd correct deficiencies 5) Reports on internal control They identified also 21 major business processes assigned to an owner with the objective to develop detailed process narratives. These major business processes were divided into sub processes with the detail of the business objectives and the risks. At the end of 2004, they had identified a total of 238 key controls and they managed to highlight a significant deficiency about the revaluation of deferred leases which can affect by definition the reliability of external auditing data. Then, all public officers had to certify in their area that the control was effective. The CEO and CFO certified then of the fairness and reliability of the financial statements. In 2005, the process became easier because all the information had already been created. They reduced the number of key controls to 222, only a 7% decrease, in comparison with larger companies (19% of decrease). They discovered a new significant deficiency because they didnt recognize liabilities about the companys loyalty program. 8 Evaluation of the effectiveness of the process implemented by PacSun Strengths: Enables to discover two significant deficiencies which misstate the financial statements Enable to create an efficient internal control system, which reduces the risks and increases the efficiency of the global system Implementation of a double control : internal control and Big-4 auditing firms control Better assessment of risks implied Significant reduction of the costs after the first year of implementation of about 40%, comparable to the other companies Commitment of all the employees which can increase the motivation and the corporate culture Better disclosure of financial information for financial analysts and investors Weaknesses: Compliance costs of $2 million in 2004 and $1. million in 2005 Additional costs associated with the training of the staff with the necessary creation of a SOX program training The compliance is very time-consuming with an increase of the formalization Competitive disadvantage in comparison with the other competitors not listed Overall, PacSun had efficiently implemented the compliance and the weaknesses will tend to reduce over the long term. However, PacSun management believed that the costs are greater than the benefits engendered. The costs implied and generally the time spent to respect the compliance rules, can Justify this opinion. Impact of the information disclosed on the stock prices In 2005, PacSun need to restate his prior two years financial statements, which resulted in no material change to net income. Auditors Judge restatement like deficiencies but they dont agree about the type of deficiency: two of the Big-4 firms judge this particular type of restatement as only a significant deficiency, i. e. a control deficiency, or combination of control deficiencies, that adversely affects the companys ability to be in accordance with GAAP. The others two Judge it to be a material weakness, i. e. significant deficiency, or combination of significant deficiencies, that result in more than remote likelihood that a material misstatement of financial statements will not be prevented or detected. by the PacSun loyalty program called Pac Bucks. In fact, the liabilities and expenses of this program were not recognizing in the proper quarter. This accounting problem was considered by external auditors like a significant deficiency, but not a material weakness. Thus, in FY 2005, PacSun received clean financial statement and 404 opinions. What is the impact of Information Disclosure provided by these deficiencies n PacSuns stock price? In this graph, we can see that the PacSuns stock price is very volatile between 2005 to 2007 (Beta higher than 1) when the NASDAQ is regularly up. This volatility can be explained by 10 the convergence of PacSun to SOX and the substantial increase of information provided on the firm. But it is very hard to have a real opinion of the impact of Information Disclosure on stock Market Returns with a unique firm. Thus we will answer with papers which study this impact on a large sample of US Company. The Sarbanes-Oxley Act of 2002 is one of the , if not the, most important pieces of egislation affecting corporations traded on the US stock exchanges, since the Securities Act of 1932 and Securities Exchange Act of A934 were enacted (Gordon et al. 2007). The SOX act introduced significant changes to financial practice and corporate governance regulation, including new rules designed to protect investors by improving the accuracy and reliability of corporate disclosures made pursuant to the securities laws. And the part of the Act having the most impact must be Section 404, which requires management to submit to the SEC with the companys annually filed financial statements, an internal control report, an assessment of the ffectiveness of the internal control structure and procedures for financial reporting, and finally an audit report which include a description of material weakness in such internal controls and of any material noncompliance. Furthermore, where significant deficiencies exist, they need to be identified as required under SOX like we saw in the PacSun case. Many studies demonstrate that the passage of mandatory government regulation like SOX may be altering the operation of capital market by affecting the stock performance of firms. In 2007, Balakrishnan et Al. , examine, by a dataset on stock arket abnormal returns and consists of 300 firms, how the stock market reaction varies for 8-K filling and how this reaction have changed since the passage of the SOX act. The result is that the SOX have the particularity to increase the information flow of a firm. Thus when a disclosure of a deficiency is promulgated, the information is quickly announced by media and have a direct negative impact on the stock market price. Inversely, when a firm received clean financial statement and 404 opinions, we can think that stock price is positively impacted because its an evidence of a very ood internal control of the firm. Another interesting dimension to consider would be the size of the firm. The effect of Sarbanes-Oxley on the firms information environment is expected to vary with the size of the firm (Ghose et al. 2006). In fact, international firm, but in the US sportswear market, this size is important. In a stock market where diversification is one of the solutions to leverage the risk, PacSun can be a blue chip. Thus, a special attention is paid to it by media. 1 Finally, we can say that disclosure of these deficiencies have had a negative effect on irms stock price but, on the contrary, clean financial statement certification and Good 404 opinion have a positive impact on stock price. In addition, a firm can decide to increase the speed with which information reaches investors by publicizing it in me dia articles. Its a good way to build a loyal firms brand image i. e. increase the investor recognition and limited the impact of bad news on the stock price. 12 Costs and benefits of Sarbanes-Oxley PacSun executives seem convinced that the costs of complying with SOX were greater than the benefits to the company. Though, according to a survey entitled Oversight Systems financials Executive Report conducted with 222 corporate finance leaders, 74 percent said their company benefited from SOX, 79 percent reported significantly stronger or somewhat stronger internal controls as a result of SOX, 46 percent said SOX compliance benefits the company by ensuring accountability and 75 percent said they would vote to keep Section 404 if they were members of Congress. In fact, the benefits of SOX Compliance are multiple: There is a positive influence on maintaining investor confidence (and long-term share price) through increased ransparency and fewer surprises. Financial reporting is more timely and reliable. Overall control culture and corporate governance process are improved. Outdated, redundant and inflective processes and controls are eliminated. Employee on- boarding process is easier Then, why did PacSun not benefit from the compliance process to the same extent as some other companies? Or were their compliance costs too high? The main issue of PacSun is this medium size ($1 billon in market capitalization). The high cost of SOX implementation is financially draining many firms. The SOX doesnt ake a distinction between large-cap billion-dollar companies and small-cap; $75- millon companies (the minimum cap to be obliged to apply SOX). Therefore, the Act requires all public companies to comply with the same regulations; it doesnt take into consideration that small companies arent as complex in organizational structure as large companies. Because large corporations have complex business models, more complicated accounting practices, they already have a lot of controls in place to ensure the efficiency of their operations that are required by SOX. In other hand, maller companies have simpler organizational structures and, thus, have slighter accounting practices, which generate simpler financial statements. These small firms require less internal controls. Therefore, since small companies have simpler subject to the same internal control and external auditing requirement of large companies. In the case of PacSun, this business model and accounting practice are closer from a small firm as shown this number of key controls (222 versus an average of 540 for the large companies). In addition, the SOX were created to fight against corporate scandals like Enron. But the majority of these scandals have occurred in large corporations with thousand of shareholders by the intermediary of retirement/pension fund. PacSun doesnt have the same type of shareholders and doesnt require the same level of protection for the shareholder interests. Therefore, although shareholder interests should be protected, SOX regulations arent needed for smaller firms that have simple business structures and a small number of shareholders that are unlikely to fraud themselves (entrepreneurs who start the company, their families, and public shareholders without any link between them). Implanting SOX is a long and costly process for companies. In the case of PacSun where his market is not occupied by large companies but especially by little firms (under the $75-million cap) which dont apply SOX, this implantation creates for PacSun a competitive disadvantage and stumps their growth by requiring them to spend excessive amounts of money and time to implement regulation. As example of costs, we have the cost of training, the implementation of a strong internal control, an increase of the size of finance/accounting departments, the fees of the audit firms ; he required amount of money is disproportionately larger in comparison with the largest firms. Thus in conclusion, we can say that SOX were designed in priority for large and complex companies. These costs are too high in relation with the engendered benefits for small caps. 4 Recommendations for PacSun Continue the work to reduce the number of key controls and try to improve a large part of them (better define it and really find an utility) Check the conformity between all marketing projects and internal control before a launching Optimize the balance between internal and external auditors to reduce the work of he external auditors Change your mind: SOX is an advantage to improve internal control Create a training and development program with an e learning module for example References Anand, S. (2006), Sarbanes-Oxley guide for finance and information technology professionals, John Wiley and Sons, 2nd edition Balakrishnan, K. , Ghose, A. and Ipeirotis, P. 2007), the Impact of Information Disclosure on Stock Market Returns: The Sarbanes- Oxley Act and the Role of Media as an Information Intermediary, University of Cambridge Bowling, D. Julien, R. and Rieger, L. (2003), Implementation of Sarbanes-Oxley S 404: Ensuring Compliance, Leveraging Opportunities Ghose, A. and RaJan. U. (2006) The Economic Impact of Regulatory Information Disclosure on Information Security Investments, Competition, and Social Welfare Proceedings of the Workshop on Economics of Information Security, University of Cambridge Gordon, L. , Loeb, M. , Lucyshyn, W. and Sohail, T. (2006), The Impact of the Sarbanesoxley Act on the Corporate Disclosures of Information Security Activities. Journal of Accounting and Public Policy, 25(5) pp. 503-530. Grinberg, E. 2007), The impact of Sarbanes Oxley Act 2002 on Small Firms, Pace University Ramos, M. (2004), How to comply with Sarbanes-Owley Section 404. Assessing the Effectiveness of Internal Control, John Wiley and Sons, Inc. Available on: http:// books. google. fr/books? id=GAMR23qTQUC=process+to+comply+with+section +404=frontcover=bl= LaTJJAf1 e 1 16 Appendix A : Deadline for the compliance with the different sections of the actl professionals, John Wiley and Sons, 2nd edition, page 63/64 17 18 Appendix B: Certification required by the SEC about internal controls2 professionals, John Wiley and Sons, 2nd edition, page 68

4 Criminals Prosecuted During the American Civil War

4 Criminals Prosecuted During the American Civil War The conditions that captured Union soldiers endured at the Confederacy’s Andersonville Prison were horrific. During the 18 months that the prison was in operation, nearly 13,000 Union soldiers died from malnutrition, disease, and exposure to the elements due to inhumane treatment by Andersonville’s Commander Henry Wirz.  So it really should come as no surprise that his prosecution for war crimes after the South’s surrender is the most well-known trial resulting from the Civil War.  But it is not as commonly known that there were almost one thousand other military prosecutions of Confederates. Many of these were due to the mistreatment of captured Union soldiers. Henry Wirz Henry Wirz took command of Andersonville Prison on March 27, 1864, about one month after the first prisoners arrived there.  One of Wirz’s first acts was to create an area called the dead-line fence, designed to increase security by keeping prisoners away from the stockade wall. Any prisoner who crossed the â€Å"dead-line† was subject to being shot by the prison guards.  During Wirzs reign as commander, he used threats to keep prisoners in line. When threats didn’t appear to work, Wirz ordered sentries to shoot prisoners.  In May 1865, Wirz was arrested at Andersonville and transported to Washington, D.C. to await trial.  Wirz was tried for conspiring to injure and/or kill captured soldiers by improperly denying them access to food, medical supplies, and clothing. He was also charged with murder for personally executing a number of prisoners. Approximately 150 witnesses testified against Wirz at his military trial, which lasted from August 23 to October 18, 1865.  After being found guilty of all charges against him, Wirz was sentenced to death and hanged on November 10, 1865. James Duncan James Duncan was another officer from Andersonville Prison who was also arrested.  Duncan, who had been assigned to the quartermasters office, was convicted of manslaughter for intentionally withholding food from the prisoners.  He was sentenced to 15 years of hard labor but escaped after serving only one year of his sentence. Champ Ferguson At the onset of the Civil War, Champ Ferguson was a farmer in Eastern Tennessee. This areas population was fairly equally divided between supporting the Union and the Confederacy.  Ferguson organized a guerilla company that attacked and killed Union sympathizers.  Ferguson also acted as a scout for Colonel John Hunt Morgans Kentucky cavalry, and Morgan promoted Ferguson to the rank of Captain of Partisan Rangers.  The Confederate Congress passed a measure called the Partisan Ranger Act which allowed for the recruitment of irregulars into service.  It should be noted that due to a lack of discipline amongst Partisan Rangers, General Robert E. Lee called for the repeal of the Act by the Confederate Congress in February 1864.  After a trial before a military tribunal, Ferguson was convicted of killing more than 50 captured Union soldiers. He was executed by hanging in October 1865. Robert Kennedy Robert Kennedy was a Confederate officer who had been captured by Union forces and was imprisoned at Johnson’s Island Military Prison. The prison was located in Sandusky Bay, which is on the Lake Erie coast just a few miles from Sandusky, Ohio.  Kennedy escaped from Johnson’s Island in October 1864, making his way into Canada - which maintained neutrality towards both sides.  Kennedy met up with several Confederate officers who were using Canada as a launching  pad to conduct war acts against the Union. He participated in a plot to start fires at numerous hotels, as well as at a museum and a theatre in New York City, with the intent to overwhelm local authorities.  All the fires were either put out quickly or failed to do any damage.  Kennedy was the only one who was captured.  After a trial before a military tribunal, Kennedy was executed by hanging in March 1865.

Refrigeration cycle Essay Example | Topics and Well Written Essays - 500 words

Refrigeration cycle - Essay Example The cycle is very important since it affects many areas of our lives. As said earlier, it is used in refrigerators and freezers that allow food preservation. Refrigerated boats and fishing boats allow the preservation of the catch (Brain & Elliott, 2015). In addition, trucks that transport perishable vegetables, as well as other types of perishable products such as meat, are fitted with refrigerators for preservation. The cycle is also used in air conditioners that are fitted in houses and automobiles such as cars and planes. Air conditioners help in altering air properties such as temperature and humidity to more comfortable conditions (Brain & Elliott, 2015). Basically the main aim of the conditioned air is to enhance thermal comfort, as well as indoor air quality In addition, the cycle is very important in the medical procedures that require lowering of body temperatures. Vapor compression refrigeration is used in industries to chill as well as condense chemicals that fail to possess the ability to be condensed at ambient temperatures. Moreover, Refrigeration cycles are also used in cryogenics, which is the study of the behavior of materials at low temperatures. Cryogenics subject various materials to very low temperatures by the use of ammonia refrigerators in their study Homes are also fitted with heat pumps that use vapor-compression pump cycles. These heat pumps allow household heating since they allow heat transfer from the cooler outside environment into the warmer inside. These pumps are often used in moderate climate areas since they remain efficient compared to electrical resistors given that the outside temperatures do not drop to very low levels (N.A, 2010). Since the equipment, as well as the working fluid, is very light, they are used as air conditioners in passenger aircrafts. Moreover, they are also used in cargo planes that transport perishable products such as fruits and vegetables. However, thermoelectric

Collective bargaining report Assignment Example | Topics and Well Written Essays - 1000 words

Collective bargaining report - Assignment Example It is worthy noting that, collective bargaining is a recognized approach of creating a system of industrial jurisprudence. It acts as a method of introducing civil rights in the industry. It is vital to note that, this procedure enhances management by rules and diminishes management characterized by arbitrary decision-making. More over, collective bargaining is a proven procedure that aid in the establishment of regulations, which define and restrict the traditional authority exercised by the management. There are numerous benefits attributed to collective bargaining process2. They include chances of increasing the strength of the employees consequently their bargaining capacity as a team. On the same note, this study establishes that, collective bargaining increases the self-esteem and productivity of the workforce3. Furthermore, it restrains management’s freedom for arbitrary and unilateral actions against the employees. In addition, collective bargaining has played a fundam ental role in ensuring that, fair settlement of the workers’ grievances is secured. This is possible through the provision of a flexible approach for the adjustment of wages and employment conditions to economic and technological changes in the business. This is owing to the reduced chances for conflicts4. On the side of the employers, collective bargaining aid in easier resolving of issues at the bargaining point rather than taking up complaints of individual employees. In addition, collective bargaining widens the channel of communication amid the employees and thereby reducing the cost of labour turnover to management consequently increases employee involvement in decision-making. Furthermore, collective bargaining is fundamental in resolving industrial disputes. Besides benefits of collective bargaining towards both the employee and the employer, this study examines the gains of collective bargaining attributed to the society. The society gains in terms of industrial peac e stability in the country. More over, it facilitates the establishment of a harmonious industrial climate that aid the country to grow economically and socially. Another significant benefit credited to collective bargaining to the society involves constant check of worker’s exploitation and discrimination. The process of negotiation and substance bargaining is complex since it entails numerous stages, which sometimes remain derailed due to disagreements and conditions. Evaluation and selection strategy A negotiation process starts with evaluation and selection of a strategy, which is intended to guide the problem solving5. This normally involves diverse approaches or procedures of mediation or arbitration. Making contact with other parties The second stage involves making contact with the other party or parties this stage enhances building of personal credibility and promoting commitment tot he procedures set. Collection and analysis of background information The third stage involves the collection and analyzing the background information. The relevant information collected is fundamental in understanding the dynamism exhibited by the participants. In addition, it enhances verification of the data accuracy and minimizes unavailable data. Designing of the negotiation plan The fourth stage involves designing of a detailed plan for negotiation. This

Person-centred approach - Carl Rogers Essay Example for Free

Person-centred approach Carl Rogers Essay

Gingko Biloba Essay -- Herbal Supplements Papers

Gingko Biloba Introduction We, as consumers, are always trying to find new products to buy in which to improve ourselves. In modern-day American culture, improving oneself has become synonymous with feeling younger and healthier. Gingko biloba extract is one of the popular herbal supplements being marketed to mainstream consumers as a "smart" and "anti-aging" drug (http://www.stevemorow.com/food.htm) which will work to help to increase their overall brain functioning in the normal population, as well as, those who suffer from mental impairment due to aging. Gingko biloba extract has also been labeled an anti-aging drug due to its antioxidant properties, its supposed free radical scavenger properties, as well as its reported increases in people’s overall mental functioning. You see advertisements for it on television, as well as, the Internet making a large number of different kinds of claims of Gingko biloba’s benefits. The claimed benefits range from increasing overall brain functioning in norma l people to people with mental impairment, to being a mood enhancer (http://www.televar.com/alpha/biloba.html), to helping with such slight conditions as cough and asthma, to helping increase circulation in patients suffering from painful vascular diseases to actually having "slimming" applications (http://www.mmpinc.com/WHATS.HTM). If all these claims are true, then Gingko biloba extract sounds like a "mulit-cure"drug for the entire population. This paper will attempt to reduce the confusion associated with the large number of claimed benefits of taking Gingko biloba by explaining what the research literature has to back up these claims. I had a hard time myself keeping track of all the reported claims. At this time, Gingko bil... ...esearch, 4(2), 89-93. Taillandier, J., Ammar, A., Rabourdin, J.P., Ribeyre, J.P., Pichon, J., Niddam, S., Pierart, H. (1986). Treatment of cerebral aging disorders with Gingko biloba extract. A longitudinal multicenter double-blind drug vs. placebo study. Presse Medicale, 15(31) Sep. 25, 1583-7. Vettorello, G., Cerreta, G., Derwish, A., Cataldi, A., Schettino, A., Occhionorelli, S., Donini, I. (1996). Contribution of a combination of aplha and beta benzopyrones, flavonoids, and natural terpenes in the treatment of lymphedema of the lower limbs at the 2nd stage of the surgical classification. Minerva Cardioangiologica, 44(9), 447-55. Warot, D., Lacomblez, L., Danjou, P., Weiller, E., Payan, C., Puech, A.J. (1991). Comparative effects of gingko biloba extracts on psychomotor performances and memory in healthy subjects. Therapie, 46(1) Jan-Feb, 33-6.

Brave New World Analysis on Characters

Brave New World Analysis on Characters â€Å"The world’s stable now. People are happy; they get what they want, and they never want what they can’t get†¦ they are so conditioned that they practically can’t help behaving as they ought to behave† (Huxley 198). Many people speak and dream about a perfect world, for the problems which we face in the present world to simply just go away. Brave New World is a novel which shows an example of what life would be like in a utopian society. Read also Analysis of Characters in Flannery O’Connor’s â€Å"The Life You Save May Be Your Own†It shows the differences that civilization has against the savage world, which is how we live in present day. The characters in Brave New World all experience the controversy between nature vs nurture ultimately leading to their unhappiness. An individual can be given everything they need but yet still live unhappy. This especially can be seen with one of the main characters in Brave New World, Bernard. He was an Alpha Plus, the highest class in civilization, but unfortunately didn’t look like most Alphas (69). Despite his class, he was an outcast and spent most of his time alone.The narrator in the novel explains, â€Å"The mockery made him feel an outsider; and feeling an outsider he behaved like one, which increased the prejudice against him and aroused hostility about his physical defects†¦ which increased the sense of being alien and alone† (68) . Although he had a high title it didn’t make him feel happy. He felt like there was more to life than a set routine they were all given in civilization. Bernard felt himself different; he wanted to feel emotions and not just live day by day on fake happiness.Bernard expresses his frustration to be feel different when he states, â€Å" But wouldn’t you like to be free to be happy in some other way, Lenina? In your own way, for example, not in everybody else’s way† (90). Bernard was tired of being enslaved by his conditioning. The people of the New World were all taught to think, act, and see things a certain way. No individuality. Living in a controlled world doesn’t cause happiness, it just numbs people of actual feelings. Lenina is a â€Å"pneumatic girl†, very popular, and has spent a night with almost all of the men in civilization. Pleasure was key in the controlled world.She found herself wanted by men, and like most women enjoyed havi ng sex with men. When Lenina began talking to Bernard, she didn’t agree with him on wanting more to life. She’d rather be on soma, a drug that would numb them from any true emotions, whenever she felt a little uneasy, just like everyone else. Lenina’s unhappiness comes when Bernard takes her into the Savage world and she sees how John and Linda and everyone else is living. Her immediate reaction was to find some soma. She couldn’t believe how people grew old, suffered, and had to deal with everyday problems.Lenina began falling for John and quickly realized that she wanted something specifically with him that most men couldn’t satisfy. Lenina states to her friend Fanny, â€Å"And what about a man– one man. Hes the one i want†¦ and in intervals I still like him. I shall always like him† (171). Lenina had never felt like this before, therefore she didn’t know how to handle it. The only thing she knew of about men was to have sex with them. When John rejected sleeping with her, she was completely taken by surprise. The narrator explains, â€Å" Drying her eyes†¦ she pulled out her soma bottle†¦ hers had been more than a one-gramme affliction† (157).Never being in the position, she immediately turned to soma to help her cope with what she was feeling. She has been living numb to emotion and for the first time she was forced to feel unwanted and ached for an escape. Linda was a Delta in a civilized world who went on a trip with the Director to the Savage world. Unfortunately for her she had fell and bumped her head, causing her to get lost and be taken in by Native Americans (112). The Director searched for her but was never able to find her. To her dismay she was pregnant and had a baby named John. Linda only knew how to act like a civilized person.She was very promiscuous and like the controlled world, began to sleep around with different men. This was strange to the Savage World and th ey then began to call her names and make her an outcast. Linda stated, â€Å"I was so ashamed. Just to think of it; me a Beta– having a baby† (114). Having John was very difficult for her. Linda had no idea how to be a mother, how to nurture, or even how to be a good role model for the child. Linda thought of how perfect her life would be if she were to return to the civilized world, returning to soma. She was willing to do whatever just to be back in the New World, â€Å"†¦ here was her appearance†¦ so the best people were quite determined not to see Linda. And Linda, had no desire to see them. The return to civilization was for her the return to soma† (142). Linda thought all her problems would be solved by going back to the controlled world, but in fact they made her even more depressed and unwanted. She had nobody except for John and she would rather be numb and not feel anything than deal with civilization. Where would she find true happiness if i n the Savage World she is discriminated for her ways, and in civilization she no longer fits in.Living in the Savage world, one can only imagine how perfect the civilized world could be. Unfortunately, having came from the savage world John had something to compare the controlled world to. Being the son to a women in the civilized world, he had heard nothing but wonders about it. On the other hand, having been raised in the Savage World allowed John to learn morals and want to find a purpose in life. When John reached the civilized world he was completely disappointed on how fake everything and everyone was. â€Å" How much I love you, Lenina†¦ or always†¦ to make a promise to live together for always† (174). John had seen his mother sleep with so many men and get teased by it that he did not want to just sleep with the women he liked. He wanted to marry and be with just that one. For Lenina this was just nonsense, and that just made John not want anything to do wit h her. He wanted to feel a special connection with Lenina that she had never had before. By the end John decides to be isolated because he would rather deal with his emotions than live in a â€Å"perfect† world numb and unhappy.Ultimately, the utopian society didn’t mean solving all problems and people forever living happy. If a civilization is all an individual knows, how is it that they still manage to be unhappy? There is no happiness when people are living numb from what is really going on. When it comes to the topic of a utopian society vs the kind of society in which we currently live in, I think there is really no solution. We are human and as much as they can try to condition human beings, there is still going to be some kind of downfall.

Australian Consumer Law Tutorial Answers

A representative for Scoutmaster told Mrs. Trans that: ; â€Å"We believe the new rent is very reasonable and below the market value†; and The rent is lower than the rental paid by other tenants in the Food Court† Both statements were incorrect. Scoutmaster gave Mrs. Trans 7 days to agree to the lease renewal, but provided no reason for giving this limited time frame. Advise Mrs. Trans as to whether Scoutmaster Pity Ltd has breached the Competition and Consumer Act 2010 (previously referred to as Trade Practices Act 1974 (Act)) and if so, her available remedies.Issue: Were the statements misleading or deceptive in breach of the Australian Consumer Law? Law: ; Section 18, Schedule 2 to the Competition and Consumer Act 2010 (Act) (or alternatively you can say Section 18 Australian Consumer Law which is the title for Schedule 2) ; Section 4 (â€Å"presumption of misleading†) ; Eveready Australia Pity Ltd v Gillette Australia Pity Ltd OR Taco Company of Status Inc v T aco Bell Pity Ltd (â€Å"objective test†) Application: ; Explain which of the statements was an opinion and why the law presumes it was misleading (e was there any basis for making the opinion? ; Apply the objective test to the second statement made by the Scoutmaster representative. In particular: (what will be the target market and why would a reasonable person from that target market be misled or deceived? Issue: Did Scoutmaster engage in unconscionable conduct? ; Section 22 Australian Consumer Law ; Miller v Gunter & Ours OR Commercial Bank of Australia v Amid ; Explain why section 21 and not section 20 applies ; Explain why Scoutmasters' conduct was in trade or commerce ; Explain what the conduct was and why it was unconscionable, with reference to the factors listed in section 22 of the Australian Consumer Law.In particular: o The superior bargaining position of Scoutmaster o Ability to understand documents o Undue pressure and tactics used Issue: Did Scoutmaster make a false or misleading representation? Section Australian Consumer Law ; Explain why the statements were false regarding the price of a service, in particular noting what the relevant price is and what the service is in the question. Issue: What are the remedies? Law: Section 236 (damages); Section 232 (injunction); Section 243 (other orders) ; Explain the remedies that Mrs. Trans would be seeking as you are advising her and not the AC.In particular: o Explain what an injunction would do and why Mrs. Trans would want this remedy; o Explain when Mrs. Trans would be entitled to damages and how damages would be calculated o Explain when Mrs. Trans loud want to vary the contract and what the variation would be o Explain when Mrs. Trans would want to void the contract and what the effect of voiding the contract would be Conclusion: ; Scoutmaster has engaged in misleading and deceptive conduct, unconscionable conduct and made a false or misleading representation in respect of the price of a service.

Free Essays on The Winnipeg General Strike

In the Canadian labour movement’s long and continuing history of struggles to establish its trade-union rights, no episode was more spectacular, explosive or meaningful than the Winnipeg General Strike of 1919. General strikes by definition involve working-class confrontations with authority and produce a massive disruption of society while paralysing economic life. They are â€Å"cataclysmic events [and] by their nature, unlikely to be created in a day.†1 The Winnipeg General Strike had many roots, including class polarization, working conditions and socialist ideas. The labour relations conflict was compounded during World War I and intensified when the war ended. On May 15, 1919, the labour conflict reached its climax as the whole productive life of the city ground to a halt and thousands of workers joined the union members in walking off their jobs, commencing the General Strike. In many ways Winnipeg was at war with itself. The city was divided socially, economically, geographically, and ethnically. 2 While labour and business battled for power, there was also an ethnic prejudice problem that plagued the city. Winnipeg was divided into two main groups: people of British origin and the more recent immigrants (who were labelled aliens), who were mostly from Eastern Europe. These immigrants inhabited the area north of the CPR rail tracks, which provided not only a physical division between the rich and the poor, but also an â€Å"ethnic schism.†3 In fact â€Å"in the areas largely populated by immigrants from central Europe, overcrowding, illiteracy, crime and seasonal unemployment rule[d].†4 Even the most skilled workers were affected. Despite the fact that they generally had better paying jobs than the unskilled workers, they still had to compete with child labour and did not have control over wages. Many of the recent immigrants from Britain ex perienced the working-class uprisings in the industrial revolution and brought with them ... Free Essays on The Winnipeg General Strike Free Essays on The Winnipeg General Strike In the Canadian labour movement’s long and continuing history of struggles to establish its trade-union rights, no episode was more spectacular, explosive or meaningful than the Winnipeg General Strike of 1919. General strikes by definition involve working-class confrontations with authority and produce a massive disruption of society while paralysing economic life. They are â€Å"cataclysmic events [and] by their nature, unlikely to be created in a day.†1 The Winnipeg General Strike had many roots, including class polarization, working conditions and socialist ideas. The labour relations conflict was compounded during World War I and intensified when the war ended. On May 15, 1919, the labour conflict reached its climax as the whole productive life of the city ground to a halt and thousands of workers joined the union members in walking off their jobs, commencing the General Strike. In many ways Winnipeg was at war with itself. The city was divided socially, economically, geographically, and ethnically. 2 While labour and business battled for power, there was also an ethnic prejudice problem that plagued the city. Winnipeg was divided into two main groups: people of British origin and the more recent immigrants (who were labelled aliens), who were mostly from Eastern Europe. These immigrants inhabited the area north of the CPR rail tracks, which provided not only a physical division between the rich and the poor, but also an â€Å"ethnic schism.†3 In fact â€Å"in the areas largely populated by immigrants from central Europe, overcrowding, illiteracy, crime and seasonal unemployment rule[d].†4 Even the most skilled workers were affected. Despite the fact that they generally had better paying jobs than the unskilled workers, they still had to compete with child labour and did not have control over wages. Many of the recent immigrants from Britain ex perienced the working-class uprisings in the industrial revolution and brought with them ...

Cheating Your Way Through Exams Best Tricks

Cheating Your Way Through Exams Best Tricks Everyone knows that cheaters never prosper, but that doesn’t stop people from trying. In fact, some students are willing to put in more effort in finding ways to avoid learning than it would ever take them to actually study. Here are some of the more amusing ways that college students have invented to cheat their way through school. The Water Bottle Trick If your exam room has an open food and drink policy, this is one of the more creative options. Simply take the label off of a water bottle the night before your test. You can write your notes and answers on the white portion of the bottle and then stick it back on. Whenever you need an answer, all you have to do is take a drink. Of course, spending most of class gazing longingly at your water bottle may also make you look like a psycho. Beauty School Dropout For women, cheating can be as easy as writing infinitely small words on your fingernails. All you have to do is find a tiny pen or pencil, whittle it down to the size of a human hair, and then write your notes. Okay, so maybe it’s not so easy. Also, if you have the patience and determination to write the Pythagorean Theorum on your nails, maybe you should consider putting all that effort into studying. Hats Off to Cheating Another great way to cheat is to write your notes on the inside brim of a baseball cap. When your head is down looking at your desk, your teacher can’t see that your eyeballs are actually faced up towards the ceiling. But remember: if you don’t normally wear a baseball cap, it will look weird if you start on the day of your test. Also, anyone sitting next to you will be able to see your notes and nark you out. Sitting Pretty If you know where the exam will take place, go ahead of time and write the notes you need on the desk or the chair in front of you. This is a great option if your classroom is left unlocked and there is no chance for passersby to see you modifying the desk like a creeper. Also, you run the risk of the teacher seeing and erasing your hard work before the test even starts. Legstravagant Although this tactic can work for guys, it’s most effective for girls who don’t look weird lifting up their skirts in public. For this creative cheating method, you write the answers on your knees or thighs. Then, when you get stuck, you lift up your skirt to check the answer. While this can be a great method if you have a lot of information to review, this method often captures the attention of both the teachers and the distracted guys sitting next to you. Keeping It Kleenex If acting is your forte, the Kleenex notebook is the way to go. You can write your notes ahead of time on a single sheet of Kleenex and then stuff it in your bag. When you come into class, sniffle, cough, and sneeze your way to an A. Just be careful not to use your Kleenex for real – at least, not unless you want the answers all over your face. Sticky Situation Writing on your hands, legs, or ankles has the unpleasant side effect of not being easily removed when your teacher asks to see them. An alternative is to write your notes on a piece of clear tape and then attach it to your clothing. When you’re done, you can just throw away the evidence. That is, assuming you can still find it. Lasting Impressions If your teacher usually gives out a piece of scratch paper, this trick is perfect for you. The night before, write out your notes on a piece of paper with the blank piece underneath. Although your paper will look blank from far away, you’ll be able to read the impressions easily. But, test it first. Your teacher will get concerned if you’re randomly staring and mumbling at a blank piece of paper. Mirror Glasses Anyone who wears glasses knows that you can catch a reflection in the very upper corners if you try. You can make this even more pronounced by cutting up a small mirror and sticking two little pieces in the corners. But, make sure you sit next to someone who knows the answers. Otherwise you’ve ruined a perfectly good pair of glasses for a â€Å"D†. Cheating isn’t going to make you smarter or more capable in the long run. It can lead to failure and potential expulsion, not to mention the loss of respect of your peers and professors. But, if you truly have nothing left to lose, it can be fun to see what you can get away with! Have you ever cheated? Do you know some funny cheating tricks? How do you feel about cheating in general? Were looking forward to your comments! Feature Image Credit: Oxfordlearning

Data Analysis by SQL Essay Example | Topics and Well Written Essays - 1750 words

Data Analysis by SQL - Essay Example Based on the results obtained, it is evident that the highest value customers in terms of the revenue are mainly from Europe, including, Denmark, Germany and France. The total revenue from US customers amounts to $ 56,029, whereas the revenue from France is $ 68,011. By identifying the products bought by the customers, their preferences can be identified. This will enable the firm to create a customer profile and make the appropriate products readily available in the proper locations. It will also be beneficial to identify the most preferred shipping service of the customers. From the database, it is evident that the United Package has been chosen for 326 times, the Federal Express was preferred for around 255 orders, whereas Speedy Express for 249 orders. Hence it is evident that the three shipping services are equally important. The orders are analysed based on the products, in order to identify the most preferred and the highest revenue generating products.The high revenue generating categories are also identified and the role of discounts in the orders are also analysed. From the analysis, the highly sold product has been found as Gorgonzoo Telino whereas the product generating the highest revenue is Cote de Blaye.However, when analysing the categories, it is found that the best selling categories in terms of revenue and number of products are Beverages, Dairy products and Confections. It is imperative to note that the least revenue generating revenues include Produce and Grains and Cereals.