Free Essays on Financial Ethics In Business

Ethics plays a major part in auditing and financial record keeping. It is the responsibility of an independent auditor to plan and perform an audit of financial statements that will provide reasonable assurance of detecting errors and irregularities that are material in nature. According to the Financial Accounting Standards Board, the essence of the concept of materiality is: â€Å"The omission or misstatement of an item in a financial report is material if, in the light of surrounding circumstances, the magnitude of the item is such that it is probable that the judgment of a reasonable person relying upon the report would have been changed or influenced by the inclusion or correction of the item.† (www.fasb.org) Materiality is a term that is hard to quantify, and must be determined for each individual situation. Public accounting firms have established informal quantitative and qualitative measures in an attempt to establish materiality limits. These measures have been affected and enhanced by statements of the Securities and Exchange Commission and other regulatory agencies and professional organizations. In setting the preliminary judgment about materiality, auditors establish the maximum amount by which they believe the statements could be misstated and still not affect the decisions of reasonable users. An amount is considered material when it is one dollar more than the amount required for a user of financial statements to change their decision. Two broad types of materiality have been recognized: quantitative and qualitative. Quantitative materiality is economic in nature and exclusively depends on the effect of a fact on the company’s financial performance. (www.m-w.com) Typically, public accounting firms have established quantitative materiality thresholds, and have used specific mathematical procedures in this process. Once the effect of a fact exceeds a certain percentage or amount of the item serving as the base measur... Free Essays on Financial Ethics In Business Free Essays on Financial Ethics In Business Ethics plays a major part in auditing and financial record keeping. It is the responsibility of an independent auditor to plan and perform an audit of financial statements that will provide reasonable assurance of detecting errors and irregularities that are material in nature. According to the Financial Accounting Standards Board, the essence of the concept of materiality is: â€Å"The omission or misstatement of an item in a financial report is material if, in the light of surrounding circumstances, the magnitude of the item is such that it is probable that the judgment of a reasonable person relying upon the report would have been changed or influenced by the inclusion or correction of the item.† (www.fasb.org) Materiality is a term that is hard to quantify, and must be determined for each individual situation. Public accounting firms have established informal quantitative and qualitative measures in an attempt to establish materiality limits. These measures have been affected and enhanced by statements of the Securities and Exchange Commission and other regulatory agencies and professional organizations. In setting the preliminary judgment about materiality, auditors establish the maximum amount by which they believe the statements could be misstated and still not affect the decisions of reasonable users. An amount is considered material when it is one dollar more than the amount required for a user of financial statements to change their decision. Two broad types of materiality have been recognized: quantitative and qualitative. Quantitative materiality is economic in nature and exclusively depends on the effect of a fact on the company’s financial performance. (www.m-w.com) Typically, public accounting firms have established quantitative materiality thresholds, and have used specific mathematical procedures in this process. Once the effect of a fact exceeds a certain percentage or amount of the item serving as the base measur... Free Essays on Financial Ethics In Business Ethics plays a major part in auditing and financial record keeping. It is the responsibility of an independent auditor to plan and perform an audit of financial statements that will provide reasonable assurance of detecting errors and irregularities that are material in nature. According to the Financial Accounting Standards Board, the essence of the concept of materiality is: â€Å"The omission or misstatement of an item in a financial report is material if, in the light of surrounding circumstances, the magnitude of the item is such that it is probable that the judgment of a reasonable person relying upon the report would have been changed or influenced by the inclusion or correction of the item.† (www.fasb.org) Materiality is a term that is hard to quantify, and must be determined for each individual situation. Public accounting firms have established informal quantitative and qualitative measures in an attempt to establish materiality limits. These measures have been affected and enhanced by statements of the Securities and Exchange Commission and other regulatory agencies and professional organizations. In setting the preliminary judgment about materiality, auditors establish the maximum amount by which they believe the statements could be misstated and still not affect the decisions of reasonable users. An amount is considered material when it is one dollar more than the amount required for a user of financial statements to change their decision. Two broad types of materiality have been recognized: quantitative and qualitative. Quantitative materiality is economic in nature and exclusively depends on the effect of a fact on the company’s financial performance. (www.m-w.com) Typically, public accounting firms have established quantitative materiality thresholds, and have used specific mathematical procedures in this process. Once the effect of a fact exceeds a certain percentage or amount of the item serving as the base measur...

Meet Libiro the best indie-only ebook store

Meet Libiro the best indie-only ebook store Startups in Publishing: Meet the best indie-only ebook store For the second installment of our series featuring literary-minded start-ups, this week we spoke to Ben Galley, co-founder of Libiro. Libiro is an amazing ebook store that is exclusive to indie authors and small presses.   To get in touch with Cherry, the woman with the tablet – and Libiro’s #1 fan – drop Teague an email at  teague.fullick@libiro.com

Sunday in the park with George Essay Example | Topics and Well Written Essays - 1750 words

Sunday in the park with George - Essay Example The particular song, â€Å"Finishing the Hat† was chosen because of the several meanings that it has throughout the song. The focus in this song is based on George and losing his loved one. When he approaches this, he calls it finishing the hat, which works as a metaphor to the incomplete piece that he is feeling at the moment. This universal theme of losing love is able to tie together to the rest of the emotions that George is feeling as well as the absence of his loved one at this particular moment. Even though this is the main theme of the song, there are other interpretations that can be added into this and which are noted from the lyrics as well as the musical techniques that are used through the piece. The â€Å"Finishing the Hat† song is not only interesting because of the main themes that George is singing about. There are several musical changes that are used throughout the piece to create different expressions. When listening to this piece, one is able to tie it into the rest of the musical, while allowing this particular theme to stand on its own. This combination of elements allows the piece to be one of the strongest in the musical and provides a deeper understanding to what is occurring in different parts of the song. This allows one to develop a specific relationship to George, the situation and what is occurring, specifically through the musical techniques. The song â€Å"Finishing the Hat† is used as a pause in the main story line to express the emotions that are occurring through the plot line. The first way that this relates to the plot line is through the main theme used with â€Å"Sunday Park in the George.† This musical was known to be taken from the painting that was a part of the time frame of 1884 (see Appendix A). The artwork that was depicted during this time is one of the most renowned pieces that are from the different

Managing a Multigenerational Workforce Term Paper

Managing a Multigenerational Workforce - Term Paper Example rce could be challenging as well as interesting because if it is not properly understood, it would create a hazardous situation in between different age groups, leading into creating instability as well as conflicts. Based on different skills s as well as diversified ways of communication, these groups must be segregated accordingly. These diversified age groups could create a rich talented workforce, which in turn, would prove to be quite beneficial for the organisations in future. However, it should be too much challenging also for its remarkable diversity, which should be managed properly, otherwise the situation becomes fatal (Fallon, 2014). It has been earlier mentioned that multigenerational workforce could create positive and negative impacts on the overall performance of organizations belonging to this modern day context. From the perspective of positive impacts, an effective management of a multigenerational workforce could result in facilitating the modern organizations to reap several significant benefits. These benefits could be duly measured in the form of increasing the profitability level, attaining greater competitive position and ensuring long-term sustainability among others. On the other hand, from the standpoint of negative impacts, the implications of the above stated subject matter could be reckoned as decreased level of overall business or operational performance, ineffective decision making and most vitally mis-utilization of certain valuable resources like human resources. Thus, with this concern, it should be managed in an effective manner for enabling the modern organizations to reap several signi ficant benefits including taking wise decisions about developing the performance of the employees and taking deliberate efforts towards sustaining in this competitive business settings. While discussing about the management of a multigenerational workforce, it will be vita to mention that in this 21st century, operations performed within the

Indias Current Relations And Foreign Policy Politics Essay

Indias Current Relations And Foreign Policy Politics Essay Modern Indias foreign policy came in to being with the independence in 1947. Till then, the nation, as a satellite of the British Empire, was bound by the identity and postulates of foreign policy dictated by the erstwhile Empire. Thereafter, India charted a course of its own independent foreign policy. The same being a subject of vast scope and not particularly relevant to this thesis is not discussed here. It would be worthwhile in scheme of things to discuss the basic determinants which steer Indias policy in case of Middle East which is based on following five primary factors  [7]  :- (a) Reliance on Middle East gas and oil, which makes it binding on India to maintain cordial relations with most of the major suppliers, including Iran, UAE, Qatar, Saudi Arabia and Iraq. However, India does not want to face any temporary cut-off in its supplies or an increased price hike. Also, it does not want to be dependent on Pakistan in this regard. (b) While being a secular democracy, India is also a major Muslim state, and relations with Iran, in particular, resonate in the northern Indian heartland, notably Uttar Pradesh. Also, India has a large group of Shia support groups. Thus, India has to balance between its foreign and economic policies on one hand, and domestic politics on the other. Indias preferred strategy is to avoid, at all costs, any stark choice between the loss of domestic political support and achieving some foreign policy goal. (c) India is hyper sensitive to criticism of its policies in Kashmir, and wants to keep the major Muslim nations from either intervening in Kashmir or supporting Pakistan. Thus, India conducts balance of power diplomacy, aimed at countering Pakistani influence in Middle East and to keep Kashmir away from any discussions. (d) India has initiated relations with Israel in field of technology, military benefits intelligence leading to increase in its influence in Washington. However, India has to carefully balance its equations with Israel and other Middle East nations. (e) India also does not want to run afoul of USs non-proliferation policies in the Middle East, even though strategically speaking India has reservations about us non-proliferation goals and tactics. Conventionally India was instrumental in building a theoretical case against NPT. The same arguments are now been used by Iran and North Korea for advancing their cases. 14. The major players in Middle East region presently are Saudi Arabia, Iran, Iraq and Israel. The other smaller Gulf States like Oman, Qatar, Bahrain, UAE, Lebanon, Syria, Kuwait, Yemen and few other states constitute the rest of Middle East region. Out of the said nations Iraq presently has ceased to be an important power in the region after the occupation by the UN forces backed mainly by US and NATO states. 15. India has traditionally pursued a pro-Arab policy towards Middle East nations and remained aligned against Israel until 1990s. This was basically aimed at countering Pakistans influence in the region and to secure access to Middle East petroleum resources. In the late 1960s and 1970s, India successfully developed mutually beneficial economic exchanges with a number of Middle East countries particularly Iraq, Iran, Saudi Arabia, and other Persian states, thereby, improving bilateral relations with them. This strong relationship particularly with Iran and Iraq helped India weather the displeasure of Islamic nations during 1971 Indo-Pak war.  [8]  The relationship was further cemented by Indias anti Israeli stance during 1967 and 1973 Arab Israel conflict. The situation continued until 1978 and 1979 when the establishing of Islamic regime under Ayatollah Khomeini in Iran and the Soviet invasion of Afghanistan supporting the Marxist regime in Kabul complicated Indias relations wi th Middle East. This resulted in weakening of Iran as regional power and emergence of Pakistan as important player in balance of power in the region. The major powers like US, China and Arab world aligned themselves towards Pakistan to counter the rising Soviet influence in the region. For about a decade India did the act of fine balancing its stand and role in the region. However, in the 1990s India took a deviation from its staunch anti Israel stand and initiated relations with the Zionist state. This was dictated by practical economic and security considerations in the post Cold war era and the influence of Hindu nationalist sentiments. Thus, following the example of Soviet Union and China, India also established relations with Israel. Once again during the Persian Gulf War (1990-91) Indias Middle East policy had to face a new test. It had to decide between adhering to its traditional Non Alignment policy sympathetic to Iraq or favour the coalition of Arab and Western countries w hich would have been beneficial to Indias economic and security interests. After initial ambivalent approach India joined ranks with the later and supported the UN resolution authorising the use of force to expel Iraq from the Kuwaiti territory. The improvement of relations with most Middle East nations was pursued with renewed vigour by the Indian government in mid 1990s. The present relations of India with Middle East nations are discussed in subsequent paragraphs. 16. Saudi Arabia. Historically Indo- Saudi ties have been based on trade. In the old times it involved spices and in modern times it has become based on petroleum. Besides, the two nations also share cultural ties due to the large number of Muslim population in India and 1.6 million Indian work force in Saudi.  [9]  India and Saudi Arabia initially established diplomatic relations in 1952 and their relationship progressed smoothly in the 1950s but suffered during the Cold war era due to Indias inclination towards the Soviet block and Saudis traditionally close relations with Pakistan. Thereafter, Indias relations improved with Saudi Arabia in beginning of 1980s and increased cooperation was seen in economic, trade, science, technical and cultural fields. However, once again the relations felt the heat on account of different stands taken by both the nations during the Soviet occupation of Afghanistan. The Saudi Arabia initially supported the mujahideens followed by the Taliban, w hereas, the India supported the cause of the Northern Alliance. The relations between the two once again saw improvement in 1990s leading to increased visits, exchanges and economic and scientific cooperation. This was followed by the signing of Delhi Declaration in 2006, a wide ranging agreement which includes in its ambit mutual agreement to strengthen and broaden economic ties, cooperating in combating international crime and ensuring the stability of the oil trade.  [10]  The relations between both the nations are grounded on the following defining factors:- (a) Economic. Although, based on energy exports the bilateral trade relationship between the two has grown significantly since mid 1990s. In FY 2007 India imported $ 12.4 billion of petroleum from Saudi Arabia (26% of Indias overall petro import). The non-oil bilateral trade also increased from $ 1.3 billion in FY-2002 to $ 3.5 billion in FY-2007. In addition India also received remittances worth $3 billion from the workers in Saudi Arabia. The predicted bilateral non-oil trade between the two nations is likely to cross $7 billion in FY-2010.  [11]   (b) Defence, Labour Relations and Education. India and Saudi Arabia are working towards an increased cooperation on defence and related technology. The sizable Indian diaspora in Saudi Arabia is also an important contributor to the required workforce so vital to its economy. Another focus area between the two nations is education and efforts are being made to enable increased number of Saudi Arabia students to pursue Post Graduate and Doctoral studies, especially in technical institutions of India. 17. Iran. The relations between Iran and India trace back to 3500 years ago, however, in much of the twentieth century they have shared a unstable relationship. Diplomatic ties between the two commenced in 1950 but immediately faced the first roadblock when Iran joined the Baghdad Pact. Thereafter, the relations improved in 1960s but again received a setback when Iran aided Pakistan in 1965 conflict against India. Subsequent to 1971s decisive victory over Pakistan the relation between the two slates improved considerably and led to number of agreements including that on nuclear cooperation in 1974.  [12]  However, the establishment of theocratic Iran in 1979, subsequent to the Islamic Revolution once again upset the apple cart. The relationship between the two remained cold during the entire 1980s as Iran didnt show any inclination to improve the relationship and India remained wary that Iran will import Shiate terrorism to India. The relationship between the two improved in 1990 due to Indias desire to secure energy supplies and economic opportunities in Central Asia and the opposition of both the countries to the Taliban in Afghanistan. The rise of Sunni Islamist forces in Afghan theatre, especially Pakistan based Taliban proved a great unifying force leading to deterioration of Iran- Pakistan relations. The Indo-Iran relations picked up further momentum as India opened towards it due to its energy requirements subsequent to loss of Iraqi sources after 1991 Gulf war. The main foundations of relations between India and Iran are discussed below:- (a) Economics and Energy. India is worlds sixth largest consumer of energy and Iran is the fourth largest supplier, obviously, energy is the most important pillar between them.  [13]  Both the nations have held regular bilateral meetings focusing primarily on the energy supply issues including the proposal for a Liquefied Gas Pipeline from Iran to India through Pakistan and alternatively, through tanker. However, the said scheme has not been fructified due to US pressure on India and Pakistan against the deal and the Indian fear that it will provide Pakistan too much leverage over Indian energy supplies. However, the plan has proved resilient and not yet died down. Meanwhile certain other bottlenecks to the scheme have emerged inform of increased pricing by Iran. On its part India is keen to commence procurement of LNG by sea, which will require establishing LNG terminals at Iran to allow exports. This is not possible because it will require certain US components which will end u p violating the US sanctions against Iran. The present state of the said scheme is in limbo. (b) Defence Cooperation. Defense cooperation has been another important part of the Indo-Iranian relationship. In the 1990s, India assisted Iran with upgrading its Russian-built military equipment, including adapting batteries for its Kilo-class die ­sel submarines avionics upgrades for its MiG-29 fighters. Since 2000, India has conducted joint patrols or exer ­cises with the majority of the navies of the Indian Ocean littoral. The 2003 meeting between Khatami and Vajpayee on Indias Republic Day produced the Road Map to Strategic Cooperation, which presents goals for fulfill ­ing the cooperation envisioned in the New Delhi Declaration. A number of reports have mentioned more direct Indo-Iranian coopera ­tion in the realm of defense, such as Tehrans acquiescence to Iran-based Indian intelligence operations and even potential Indian military bases in Iran. Indias assistance in upgrading the Iranian port of Chahbahar has led many to infer that Indian warships would be based ther e in order to outflank Pakistans China-assisted Gwadar port, seemingly pitting rising power against rising power. 18. Israel. Indo-Israeli ties remained at a low level throughout the cold war for both ideological and practical reasons. Indias large Muslim population was, of course, a factor. Furthermore, Jawaharlal Nehru, Indias prime minister until 1964 was a close friend of Egypts Nasser, who was an implacable foe of Israel. While India and Israel periodically cooperated on mutual interests, such as Israeli aid to India during the 1962 war with China or proposed plans to destroy the Pakistani reactor at Kahuta in the 1980s,  [14]  their public relationship often was acrimonious, especially after the 1967 Arab-Israeli War, which put Indias allies in direct conflict with Israel. In fact, in 1975 India publicly supported and funded the Palestine Liberation Organization and voted for the UN resolution to equate Zionism with racism. The decline of the Soviet Union forced India to re-evaluate its foreign policy resulting in opening of the Indian economy and a desire to trade with high-tech state s, including Israel. The new approach to foreign policy, combined with the new initiatives to end the Arab-Israeli conflict in the wake of the 1991 Gulf War and the push by the opposition led to India initiating close ties with Israel and the two countries established full diplomatic relations in 1992. For nearly a decade afterward, commercial trade in arms and other goods thrived and ties were quietly strengthened. Indo-Israeli military exer ­cises and agreements in the fields of the environment, health, illicit traffic in drugs, visa waivers for diplomatic service personnel, and an educational cultural exchange program. In the same year, India and Israel issued the Delhi Statement on Friendship and Cooperation, in which they agreed to cooperate closely on counterterrorism and called on the international com ­munity to take decisive action against cross-border terrorism and money-laundering operations to finance terrorism. 19. Defense collaboration and arms sales with Israel picked up in January 1999 when the United States withdrew the sanctions that it had imposed on India in the wake of New Delhis 1998 nuclear test. In the late 1990s India purchased unmanned aerial vehicles, artillery, and radar systems from Israel. The emerging Indo-Israeli relationship was codified in 2001 with the creation of the Joint Defense Cooperation Group, which meets annually to solidify defense deals and military ties and coordi ­nate the security relationship. India has become Israels largest arms market, overtaking Russia in 2009. India has purchased a wide range of technically advanced equipment and weapons from Israel, including antimissile radar and electronic warfare components for the Indian navy and air force, for a total of more than $5 billion since 2002. 20. Indias Relations with The Small Gulf States. Indias ties with the geographically small but economically important Gulf states of Oman, Qatar, the UAE, Bahrain, and Kuwait have been historically good due to trade and migration and their current economic relationship is booming. Indias trade with the six Gulf Coopera ­tion Council states (excluding oil) totaled $86.9 billion in FY 2008-09, sur ­passing Indias trade with the European Union ($80.6 billion), the ASEAN (Association of Southeast Asian Nations) countries ($44.6 billion), and the United States ($40.6 billion).  [15]  Looking to the future, Indian leaders have expressed a desire to continue the rapid expansion of trade, attract Gulf investment for major infrastructure projects, and broaden their Gulf state relationships beyond economics. In a May 2008 speech in Abu Dhabi, Indias external affairs minister, Pranab Mukherjee, called for a transformation of Indias relations with the Gulf states beyond that of a buyer-s eller relation ­ship to a more substantial and enduring partnership. With Indias thriv ­ing economic relationship with the Gulf, continuing demographic ties and nascent defense cooperation, such an evolution may already be under way.

Port Chicago Disaster

The Port Chicago Disaster On the 24 of July 1944, a memorandum was written from Captain W. S. Parsons, USN to Rear Admiral W. R. Purnell, IJSN. It was a report on the most destructive explosion on United States soil at that time. It was known as the Port Chicago Explosion. Captain Parsons worked in the Bureau of Ordnance as their Liaison Officer. So he was a prime candidate for the Job. Rear Admiral Purnell was the head of the Military Policy Committee. This memorandum was not intended to incarcerate people, determine its cause, nor report defects in the design of munitions depots.Its sole urpose was to collect data from the damage done and to find the exact time when the explosion happened. Captain Parsons determined the exact time based on seismic activity. He determined the time of detonation occurred at approximately between 2218-2244 on the 17 of July, 1944. It was found that approximately 2000 tons of high explosion were present on the dock at the time of the explosion. He also determined that light damage extended approximately 1500 yards from the explosion. This was minor damage but significant none the less.From ground zero and out to approximately 1000 feet it was determined that there was total destruction. However, at 1000 feet there were 3 civilians that remained alive; these were the closest survivors to the blast. This horrible disaster could have been prevented, only if certain factors were addressed accordingly. Within the confines of the munitions depot at port Chicago, there was racism. Akers states: The general classification test employed at this time placed the black ratings at Port Chicago ‘in the lowest twelfth of the Navy.According to their superiors, these men were unreliable, emotional, lacked capacity to understand or remember orders or instructions, were particularly susceptible to ass psychology and moods, lacked mechanical aptitude, were suspicious of strange officers, disliked receiving orders of any kind, particularly from white officers or petty officers, and were inclined to look for and make an issue of discrimination. For the most part, they were quite young and of limited education. 1 Black men, no matter what they scored on their classification test were put into these laborious work parties.If they scored high enough and there were empty billets, they would be transferred to another duty station. Therefore, there was a lack of good leaders to be had. This is a prime example of discrimination. Another example of racism at this munitions depot is that: Negroes in the Navvy don't mind loading ammunition. They Just want to know why they are the only ones doing the loading! They want to know why they are segregated; why they don't get promoted. 2 This stated that the racism was severe and the moral of the black sailors was very low.When morale was low, they started to ask question and the quality of work that and more prone to accidents. In addition, white officers were put in charge of these loadi ng parties and the black sailors did not like them. On top of that, the commanding officer, Captain Kinne, demanded a quota often tons per hatch per hour. These white officers deemed this goal, of the commanding officer, too high. But they had to fulfill it nonetheless or else their Jobs were on the line. Allen stated, â€Å"†¦ officers sometimes raced working divisions against each other to speed up loading. 3 This caused workers to work at an unsafe speed and often times a shell would drop to the deck. Allen also stated: As Carr [the wench maintenance personnel] looked on, one man lost his grip on a shell; it dropped two feet and hit the deck with a thud. This showed that the rate at which they loaded ammunition onto the ships was unsafe. It made the possibility for a disaster very high. Still the Captain Kinne, the white officers had quotas to fill so they ignored these ominous signs and kept on pushing. Only if they could have slowed down the load rate, this disaster could have potentially been avoided.Another factor that could have prevented this disaster would be training. According to Julius J. Allen in his court martial trial he stated, â€Å"There was no training in ammunition handling. â€Å"5 These black Junior sailors were not trained to handle igh explosives, at the same time, the white officers were inadequately trained to supervise the loading process of high explosives. According to Freddie Meeks: When those bombs, slathered in grease, bounced down the plank, theyd bang into other bombs and everyone would pray to Almighty God. They made terrible sound.Sometimes, you thought they would explode. You'd almost have a heart attack to hear those bombs hitting together†¦ I'd ask the lieutenant about it and he'd say don't worry. 6 The black sailors were weary of working with these explosives but were told by fficers that the larger munitions were not active and could not explode and that they would be armed with their fuses upon arrival at the combat theater. Because of the inadequate training of the white officers, they disillusioned the black sailors. The black sailors would believe them because of their lack of training with explosives as well.Therefore, this made for carelessness in the handling of the high explosives because all personnel apart of the loading parties did not know that the shells had the potential to explode because the training was negligent. Another aspect is the equipment used for handling of the high explosives. Handling of these larger explosives such as bombs and shells involved breaking individual munitions out with levers and crowbars from boxcars. The shells were packed in tightly with packing material, and they were heavy cylindrical shapes.The black sailors would roll them along the wooden pier, packing them into nets, lifting them with a winch and boom, lowering the bundle into the hold, and then dropping the individual explosives a short distance by hand into place. This series of ac tions was rough enough that naval shells were sometimes damaged and began leaking identification dye from their ballistic caps. This should have been a major warning that an explosion was explosives. Therefore, the explosives were more prone to damage because of the kind of crude equipment they were using.In addition, the powered winches used on cargo ships were used to speed up the handling of heavy loads. One winch was operated at each of the ship's five cargo holds. During loading operations, the winches were worked hard, requiring steady maintenance in order to remain operable. Winch brakes, a safety feature provided for stopping the load from falling if the winch's main power was lost, were not often used by a skilled winch operator s the load could be more quickly maneuvered using various power settings than by application of the brakes.Disused brakes sometimes seized up and stopped working. Additionally, the winches on the SS E. A. Bryan were steam-powered and showed signs of wear, even though the ship was only five months old. Equipment could have been a factor, but also the lack personal protective equipment was another factor. In many cases there was no personal protective equipment provided by the munitions depot. In an interview with Carl Tuggle, he stated that: If you wanted to wear gloves, you purchased them. That was the only way you had gloves o wear and to use while you were working.At night we were provided clothing to keep us from the elements on the dock at night because it was cold, but otherwise we supplied everything else ourselves. 7 Since the black sailors often were not promoted they remained stagnant with the position of Junior sailor. Therefore, they would not make a lot of money and not have money to buy proper personal protective equipment. This made the work parties more prone to accidents. It was so dangerous that even Commander Paul B. Cronk, head of a Coast Guard explosives-loading detail tasked with supervision of the orking dock, warned the Navvy that conditions were unsafe and ripe for disaster.The Navvy refused to change its procedures and Cronk withdrew the detail. The Navvy still put a blind eye to the munitions depot at Port Chicago therefore the disaster was waiting to happen. This may have been the most destructive explosion, but it was almost expected as Captain Parsons reported, â€Å"†¦ Port Chicago was designed for large explosions. â€Å"8 He stated that the munitions depot designed at Port Chicago was designed for large explosions and because of the design; there was a very minimal loss of life outside of the munitions depot.Nonetheless, it was eventually determined that 320 of the men on duty at the pier died instantly, and 390 civilians and military personnel were injured, many seriously. Surprisingly, this was a major loss for the black sailor community in which, â€Å"†¦ roughly 15 percent of all the black casualties in the US Navvy during the entire war. â€Å"9 Shortly after the disaster, Port Chicago assigned white sailors to work alongside black sailors loading ammunition. This was the first step towards desegregation. To fix the lack of training, the Navvy instituted new training and safety procedures for the handling of high explosives.If and only if the Navvy listened to the Coast Guard Explosives-Loading detail supervising the loading of the explosives, the Port Chicago explosion would have never happened and this memorandum would have never been written. 1. Regina T. Akers, â€Å"The Port Chicago Mutiny, 1944,† in Naval Mutinies of the Twentieth Century: An International Perspective, ed. Christopher M. Bell and Bruce A. Elleman (London: Frank Cass, 2003), 200. 2. Robert L. Allen, â€Å"Final Outcome? Fifty Years after the Port Chicago Mutiny,† American Visions 9 (1994).http:// search. ebscohost. com.http://search. ebscohost. comhttp://montfordpointmarinesandhonor.blogspot.com/2013/09/http://search.epnet.com/Login.aspx?lp=login .asp&ref=https%3A%2F%2Fwww%2Egoogle%2Ecom%2Eua%2F&authtype=ip,uidhttps://ja.wikipedia.org/wiki/%E3%83%9D%E3%83%BC%E3%83%88%E3%82%B7%E3%82%AB%E3%82%B4%E3%81%AE%E6%83%A8%E4%BA%8B

Managerial Accounting And Its Techniques - 2715 Words

Running head: MANAGERIAL ACCOUNTING AND ITS TECHNIQUE 1 MANAGERIAL ACCOUNTING AND ITS TECHNIQUES 12 Managerial Accounting and Its Techniques Melissa Reppert BUS 630: Managerial Accounting Dr. Veliota Drakopoulou May 11, 2015 Introduction Management Accounting is an important activity within an organization. It plays several functions in any organization through the actions undertaken by management accountants. According to our textbook, Managerial Accounting is the branch of accounting that meets managers information needs (Schneider, 2012). The management accounting information is distributed to all the other departments of an organization and thus require a set of standards and ethics to be observed (Adams, 2002). For this reason, management accountants must observe the ethical standards developed as a guide for their profession. They have to consider objective in undertaking and their actions during the processes of giving out the reports on the financial information. In the Management Accounting profession, there are a number of techniques or methodologies that are used to administer the role of this organization segment. Some of the techniques used in this profession include Just in Time (JIT) A BC system, Make-Buy analysis and inventory management. These techniques play several roles and have a wide range of application within an organization. They can help reduce costs, thus enhancingShow MoreRelatedManagerial Accounting Analysis of Concepts and Techniques4204 Words   |  17 PagesManagerial Accounting Analysis of Concepts and Techniques Managerial Accounting BUS 630 Managerial Accounting Analysis of Concepts and Techniques Introduction/Thesis Statement Managerial accounting is a concept used in businesses to manage internal systems. Understanding the importance of effective decision making, planning and control creates a foundation for value within the company on a more in depth level. Planning and controlling is measured by performance based on budgeting accountsRead MoreDecision Making Techniques in Managerial Accounting876 Words   |  4 PagesManagerial accounting comprises all the financial information needed to help managers make educated decisions and do their job duties efficiently. A typical manager’s responsibilities with managerial accounting include interpreting finance reports and projections and using those to make financial decisions that will affect the company. Since managers have to make routine decisions and finalize reports periodically, it is vital that they are able to conduct healthy decision making processes andRead MoreBUS 630 Final Paper1617 Words   |  7 PagesDecision Making with Managerial Accounting Managerial accounting is essential for decision making. Making the best choice depends on the managers goals, the anticipated results from each alternative, and the information available when the decision is made (Schneider, 2012). The different techniques associated with managerial accounting are very helpful in the decisions that need to be made. In order to truly understand decision making with managerial accounting one must first discern exactlyRead MoreDecision Making With Managerial Accounting1563 Words   |  7 PagesDecision Making with Managerial Accounting Accounting is the process charged with the identification, measurement and the communication of economic information in the aim of allowing the desired users in making the correct decisions and judgments. Accounting has two branches depending on the users. Managerial accounting isuseful to core users unlike financial accounting which is more essential to exterior users. Management accounting is, therefore, the identification, analysis, recordRead MoreOverview of Burns and Scapens Framework for Analyzing Managerial Accounting Change921 Words   |  4 PagesThe Burns and Scapens framework for analyzing managerial accounting change was built on the study of old institutional economics, which sees economics as a process of social provision, subject to multiple and cumulative causation. This view culminates in a model that argues that the managerial accounting practices at institutions are subject to a process of constant change, influenced by routines and rules. The insti tutions contribute to these routines and rules, but so do actions on the part ofRead MoreFinancial Accounting And Managerial Accounting1613 Words   |  7 PagesIntroduction: Both financial accounting and managerial accounting provide important information about the business process. On the one hand, financial accounting provides only financial information to its internal users and external users. On the other hand, managerial accounting basically communicates about financial and non-financial information with internal users such as managers, employees and owners of the company. In other words, managerial accounting provides information to managers who directRead MoreManagerial Accounting1152 Words   |  5 PagesManagerial Accounting 12/3/15 Managerial Accounting Accounting is a crucial part in running a business. There are various forms of accounting that can be used, it is very important to know which technique is best to use for what companies. Once you figure out a particular technique to use, it is important to keep an open mind if there are any changes that need to take place in the business. By keeping an open mind helps the business adjust and be able to make the right decisions. Every businessRead MoreAccounting753 Words   |  4 PagesCampbellsville University School of Business and Economics SYLLABUS Course Title: ACC 601 Managerial Accounting Semester/Dates: Graduate Term 1: August 29, 2011 – October 23, 2011 (Traditional MBA) Meetings: Thursday (6:00 PM – 10:00 PM), AD 25 Faculty: Dr. Sunny Onyiri Office: AD 29-b Phone: (502) 365 4424 Read MorePort Authority Analysis1245 Words   |  5 PagesDepartment. Ordinarily, the Port Authority exploits managerial accounting techniques to increase profit margin and maintain its competitive edge over the neighboring airports. Meanwhile, managerial accounting instruments assist terminal managers in recognizing, measuring, analyzing, deciphering, and conveying data information to realize the Organizations goal (Hilton Platt, 2017). With a balanced scorecard implemented, all managers, including managerial accountants, use the strategy for accurate decision-makingRead MoreApplying Personal Managerial Accounting Problems1296 Words   |  6 PagesACT510Z-AGAC02S-01-Accounting Theory for Management Decisions, by Dr. Miller which is a hybrid class; and 2. FIN540X-A1-07-Managerial Finance by Dr. Anne which is a fully online class Outcomes from my first course ACT510Z to My Workplace The course outcomes for the ACT510Z-AGAC02S-01-Accounting Theory for Management Decisions - by Dr. Miller (Sullivan University, 2015a, P1) are: †¢ Solve various managerial accounting problems †¢ Utilize critical thinking skills in addressing various managerial accounting issues