The Pyramids Of Egypt Essay Research Paper free essay sample

The Pyramids Of Egypt Essay, Research Paper In my study, I will discourse how the pyramids were built, what intent they served, the three pyramids at Giza, some messages found on the rocks that were used to construct pyramids, and what a mastabas is. Pyramids are tombs built for Egypt # 8217 ; s Pharaoh. Pyramids are big constructions with four sides that are the form of a trigon, that meet at the top to organize a point. The antediluvian Egyptians used the pyramids as grave for the Pharaoh and temples for their Gods. The pyramids hold one or two small temples attached to them, which holds their relations and retainers. A few pyramids still stand today, and are great attractive forces for tourers. The pyramids were built by taking blocks of granite to the workshop, mensurating the blocks down to size, determining the blocks, and puting the blocks into the organic structure of the pyramid. We will write a custom essay sample on The Pyramids Of Egypt Essay Research Paper or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The nucleus of the construction is now completed. Then, you place the limestone blocks on the top of the construction ( they started seting the blocks on top and so worked their manner down ) . They left two empty suites to put the Pharaoh and his properties in. They sealed the pyramids so good, it took four hundred old ages for two robbers to calculate out how to acquire in. The pyramids were built by free citizens, drafted for public work, non by slaves of any kind. The pyramids were built by four 1000 expert rock sculpturers all twelvemonth unit of ammunition. An excess work group of about 95 thousand work forces worked on the pyramids during the four month period of the flood ( the clip of implemented idling for husbandmans, since the field were covered with the Nile H2O inundation ) . The pyramids were built between the twelvemonth 1600 B.C. and the twelvemonth 2700. Many bookmans believe that the ground why the pyramids were built in a triangular signifier is because it has a spiritual significance to the Egyptians. The aslant side might hold reminded the Egyptians of the slanting beams of the Sun, that the Pharaoh # 8217 ; s psyche could mount to the sky and fall in the Gods. In the pyramids they buried the Pharaoh # 8217 ; s organic structure. There was a chamber for the organic structure. There was besides a chamber for hoarded wealths of gold and other invaluable points for the Pharaoh # 8217 ; s hereafter. Sometimes a boat is placed inside so the Pharaoh would hold a manner to transport himself into his hereafter. In Pharaoh Cheopses pyramid, therewas his ma, caskets full of gems, furniture inlaid with tusk and gold, Ag and alabaster bowls and vass, thoraxs filled with vesture and cherished decorations, and jars filled full of nutrient and vino. You must believe that the pyramids must hold been big to keep all of that, and as a affair of fact the base of the pyramid screens plenty country to keep ten football Fieldss. The three pyramids at Giza stand on the west bank of the Nile River, outside of Cairo. They are the largest and best preserved pyramids. The largest of the three was for Pharaoh Khufu ( Cheops ) . The following to largest was for Pharaoh Khafre. The smallest ( yet non little at all ) was for Pharaoh Menkaure. The first known Pharaoh to hold a pyramid was Pharaoh Zoser, in the twelvemonth 2650 B.C. Imhotep built it for him. If you of all time see something that looks like a pyramid, except it # 8217 ; s smaller than one, and has a level top, don # 8217 ; t misidentify it for a pyramid, it # 8217 ; s a mastabas. In the mastabas the male monarch # 8217 ; s relations and retainers are buried. Some blocks had Markss on them to demo where they belonged. Others had messages like # 8221 ; this side up # 8220 ; , # 8221 ; vigorous pack # 8221 ; , or even # 8221 ; how drunk the male monarch is # 8220 ; . In decision, the pyramids were built by free, drafted, citizens. Pyramids were used to bury the Pharaoh. The messages on the rocks were decoded. The three pyramids at the Giza were the largest, and a mastabas is non a pyramid. 469 CASSON, LIONEL. ANCIENT EGYPT. Canada: TIME INCORPORATED,1965. NEWBY, P.H. THE EGYPT STORY, ITS ART, ITS MONUMENTS, ITS PEOPLE, ITS HISTORY.ITALY: ABBEVILLE PRESS,1979 PAYNE, ELIZABETH.THE PHARAOHS OF ANCIENT EGYPT.NEW York: RANDOM HOUSE INCORPORATED,1984.

6 Tips for Writing Your Dissertation

6 Tips for Writing Your Dissertation On this episode, we discuss six strategies and tips you can use in writing your dissertation. Lets face it- writing a dissertation can be difficult and overwhelming. The goal of this video is to help you avoid the common mistakes writers make during the dissertation planning and writing processes.Heres a recap of the strategies we cover:Tip 1: Start somewhere, anywhere. It doesnt have to be at the beginning. In fact, it probably wont be.Tip 2: Separate the writing and editing processes. When you sit down in the early stages to write your dissertation, dont stop to make corrections and dont expect perfection.Tip 3: Dont try to make your writing at this stage sound academic. Rather, just write from the heart.Tip 4: Write in chunks and out of order.Tip 5: Organize your citations on note cards, or the digital equivalent, from the very beginning.Tip 6: Write as early in the day as possible and set a goal for writing at least 1 page per day.

An Assessment of the Impact of Government debt and Deficits on the Essay - 3

An Assessment of the Impact of Government debt and Deficits on the Economic Growth of United States - Essay Example Reasons for current debt and deficit Basically, the public debt of the country refers to the borrowings that the government does outside of the national budget (Huntington, 1996; Tombak, 2012) whiles the deficit refers to the amount of funds spent outside revenue generation. As seen above, an increasing pattern in the growth of national debt and deficit affects the economic growth of the country greatly because it stagnate the growth of the gross domestic product (Mearsheimer, 2001). Many have wondered why the debts and deficit have evolved in the pattern in which they have in the figure. First, experts blame misplaced national priorities as the major cause of the national debt size of the country. This is said in terms of spending more on non-revenue generative ventures (Waltz, 2010). Secondly, the United States have been blamed for taking up upon itself more responsibilities that it can take than the country can actually afford in the face of the international world. To this end, the country always has surpluses to de al with in its national budget. Finally, government social intervention policies are greatly blamed. Currently, statistics has it that Medicaid and Unemployment benefits alone could raise more than 12% of the size of the GDP if there were other viable means of ensuring that such interventions could be adjusted into proponents of revenue generation and empowerment for the populace (Mahar, 2009).

Lust, Love & Relationship Essay Example | Topics and Well Written Essays - 1750 words

Lust, Love & Relationship - Essay Example The article highlights the story life of the author during her college days. In her relationship, the author compares herself with other peers. The element of money and financial disparities arises. The author creates an environment where those with financial advantage tend to enjoy love compared to those who are financially disadvantage(Kennedy, 2015). Her envy of her girlfriend suggests the monetary aspect plays part in love and happiness. The author also reflects the level of relationship and her situation as she describes her love as serious as being serious. The article concludes by suggesting that the author’s college life was meant to sample and determine what factors surrounding love. The author indicates that marriage explores is a test of what one had experienced during their teenage lives. According to Derleg, communication plays part in determining the type of relationship to be experienced by different parties. The length of a relationship will be determine by the level of communication between parties. A close communication model will ensure a loner relationship. In the article the author indicate her love life with her boyfriend begins and ended in collage. The factors behind this could be that after collage the two limited their communication hence breaking their relationship. Communication and relationship have a positive correlation. According to Sternberg’s Triangular Theory of Love, intimacy is a fro of relationship that defines closeness and define the love distance between two.

Influence of bullying on society Essay Example | Topics and Well Written Essays - 2000 words

Influence of bullying on society - Essay Example Human beings develop or grow by observing the surroundings and so they are called as social animals. Bullying is not what which is imbibed by birth, the situations and people around them make children harass whoever comes in contact with them. Children at young age don't have that much understanding to differentiate between genders or elderly people, teachers, family members and friends are the easiest scapegoats. The beginning of bullying may start from people surrounding the child start interfering in their matter and trying to alter their thoughts and at the same time molding them in a way what their parent or guardians need their wards to grow. This noble effort may be a good weapon to blend their children into a multi-talent adolescent, but it may have serious consequences if the child is already preoccupied by thoughts of his own. At this time if someone tries to interfere with their thoughts and intentions, emotions that may burst paving a way of bullying whoever tries to bother them. Children at tender age can't differentiate between teaching and strict discipline. Their lies a very thin line between teaching and discipline. If the child experiences this he/she may get disturbed and may get averse to the situations and will react unruly. The g... One of the reasons for children and adolescents is suspected weakness in themselves or in others. They try to cover up their weaknesses by aggressive behavior and showing the power personally. If a student is found weak mentally or in aspect of human or common intelligence then the surrounding adolescents whoever are aggressive in nature start bullying. This can be a stepping-stone to the child or adolescent to start bullying their immediate or fellow students and their teachers. Children bullying at tender age may just tease their fellow student, neighbors and teachers but when they grow up with such mentality, bullying altogether take a different meaning and as it expands, date violence, sexually harassing girls. The very beginning of bullying at tender age should be checked and corrected so that it may not continue up to adult hood. Not checking and correcting at tender age is also a specific reason for adolescents and adults bullying, once children and adolescents taste the sarcastic magic of bullying, it entices and tempts them to whip out their natural behavior by replacing aggressive and power full behavior in to their character. The combination of power and aggression makes them fell supreme. Generally adolescents look to their peers for help all times. If their peers are noble enough then such behavior made declaim in adolescents. But if they are not, then adolescents become most notorious and when they continue to grow which such behavior up to adult hood then bullying will be key component of sexually harassment, gang attacks, date violence critical assault, marital violence, child abuse, work place harassment and elder abuse, another

Market Structure And Competition Of Next Plc Economics Essay

Market Structure And Competition Of Next Plc Economics Essay Mission: We plan to supply an complete lofty stage of repair to all our consumers to greeting them to Next, whether they are shopping in our elevated road, shopping centre or trade commons provisions, the Next Index, or online from side to side our website. Though our clientele prefer to supermarket with us, it should be secure, hospitable and simply reachable for all. We aspire to take action to consumers exacting desires from end to end the box up of actions we have in position, which we suppose chains all our consumers as well as individuals with further wants. Values and Objective: The ultimately objective of Next Plc is the delivery of sustainable long term growth in earnings per share. In the current economic environment, it will be very challenging to reverse this years deadline in EPS in the short term and for the year ahead EPS is again expected to reduce. Nevertheless, the board remains convinced that the groups long term objective is best achieved by continuation of the following strategies in its operating business. Improving and developing Next product ranges, success in which is reflected in total sales and like for kike sales performance. Ventura, which provides consumer services organization to regulars wishing to contract out their consumer phone organization and completion activates. Lipsy, which designs and sells its possess recognized younger womens manner goods from first to last extensive, trade and internet channels. Shareholders Influence: Bat always try to keep the commitment that they made with their investors. Under this, share holder can raise any question regarding the operation procedure of Next Plc. And the shareholders can even choose their Board of Director. P2: Shareholders Influence: Bat always try to keep the commitment that they made with their investors. Under this, share holder can raise any question regarding the operation procedure of Bat Plc. And the shareholders can even choose their Board of Director. P3: Used for Next, company liability resources addressing type commerce connected societal, moral and ecological impacts and ensuring we jog our trade in a accountable way. We observe company accountability as a type constituent of how we behavior our commerce as we consider it makes good quality commerce brains. The areas we have recognized as having everyday jobs are: Our Suppliers we will jobs for helpful societal, moral and ecological improvements in our provide sequence Our Consumers we will job to make sure we gather or go above our consumers prospect from side to side the release of brilliant foods and service Our People we will job to offer an situation where our recruits are supported and appreciated, treated rather and in use worry of, listened to and are provoked to realize their full probable Community we will work to deliver value through our community contributions and support for charities and other organizations**** Environment we will work to keenly decrease the impacts of our on the business natural environment P5 In anticipation of ten years ago the term Welfare Work was a expression without meaning in the manufacturing world. In the present day it stands for a specific strategy on the part of employers which may bring about the explanation of many of the irritated problems of labor and resources. The leaven of this rule already has begin to job. A branch of wellbeing work from beginning to end which the business has had a great pressure on the people and the environment of the zone is that of countryside farming. At the time when wellbeing work was on track the environment of the industrial unit were like persons of most manufacturing plant life something but beautiful. Subsequent to the company has made its own goods attractive with lawns, undergrowth and vines, it trained the people of the locality, by lectures and demonstrations, the main beliefs of countryside farming. Consequently of this operation of education the industrial unit locality has been change from a region of stumble -down houses, powder plenty and tin cans to a locality of attractive homes and well set aside yards. P6 The impact of Macro-economic (Monetary and Fisca)l Strategy on the economy There are some differences in the economic effects of financial and economic rule, on the masterpiece of productivity, the helpfulness of the two kinds of rule in assembly the governments macroeconomic objectives, and also the time lags concerned for financial and fiscal rule changes to take effect. We will believe each of these in roll: Effects of Strategy on the Composition of National Output Economic strategy is often seen as incredible of a blunt rule implement upsetting all sectors of the economy even though in unusual ways and with a changeable contact. On the contrary, economic rule can be under attack to involve convinced groups (e.g. increases in resources -tested profit for low earnings households, reductions in the rate of company tax for small- middling sized enterprises, speculation allowances for businesses in sure regions) think as an example the effects of using either fiscal or economic strategy to reach a given raise in national earnings because actual GDP lies below probable GDP (i.e. there is a unnecessary output gap) (i) Pecuniary strategy expansion: Minor awareness rates will lead to an increase in customer and business capital expenses both of which increases national income. Since investment spending results in a larger capital stock, then incomes in the future will also be higher all the way through the impact on LRAS. (ii) Monetary policy extension: An extension in monetary rule adds unswervingly to AD but if financed by advanced government borrowing, this may consequence in advanced interest rates and lower investment. The net result is the same increase in current income. On the other hand, since investment expenses is minor, the investment stock is lower than it would have been, so that future incomes are inferior. In UK lots of multinational organization are operating, Many people from different part of the world also visited in UK for different purposes, if the global economy fall the business of UK based company also fall down. As a result they faces difficulties to earn profit and ultimately the shareholders suffer. P7 Perfect Competition: A market is said to be perfectly competitive when firms perceive that they individually have no noticeable influence on market price. The outcome in such an industry is efficient in the sense that the cost of the last unit of output (marginal cost) would just equal what consumers would be willing to pay for that unit. Perfect competition is a regarded as a benchmark market structure for evaluating other market structures. Market Structure and Competition: The market structures tells us about the environment within which an enterprise functions and the nature of external pressure on the enterprise. The elements of market structure that we look at are concentration ratio, stability of market shares, conditions of entry and exit of firms. FDI Policy Stability of Markets Shares A limitation of the above summary measures of concentration is that they ignore the dynamic changes in the market shares of individual firms. Market shares of dominant firms may increase or decline over time. Greater churning of market shares in given market suggests greater intensity of competition. P8 Market forces and organizational Response: Organizations always responses positively toward market forces. P9 Company Summary: This segment presents the key details statistics, business explanation, and products services unfilled by the corporation. Key Competitors: This section first selects the competitors based on assets, sales, focus of business, or geographic achieve. Then all the competitors are profiled. Key Industry Strategies of Each Competitor: It talks about the present and future strategies of each business. All industry, marketing, monetary and governmental strategies are discussed here. Relative SWOT Psychiatry: Our comparative SWOT analysis is a valuable step in assessing your companys and you competitors strengths, weaknesses, opportunities, and threats. It offers powerful insight into the critical issues affecting a business. Comparative Financial Analysis: This section compares the recent financials of the company and its competitors. The financial performance of each segment of all the companies is also discussed here. The objective is to appraise the financial health of the company vis-Ã  -vis its competitors. The stock price comparison helps us in evaluating the performance of the company position versus its competitors from an investors standpoint. There is an imperative role for tobacco control advocates in the policy development process in authoritarian agencies. P10 The selling and advertising of goods and services crossways national boundaries is known as worldwide trade. International trade is the spinal column of our modern, commercial world, as producers in various nations try to profit from an extended market, rather than be limited to selling within their own boundaries. There are many reasons that trade across national borders occurs, including lower construction costs in one region versus another, dedicated industries, lack or surplus of natural capital and purchaser tastes. One of the most contentious mechanism of global trade in the present day is the lower construction costs of on the rise nations. Both the United States and the European Union have forced severe limitations on imports from Asian nations to try to stem this tide. Obviously, a business that can pay its staff the equivalent of dollars a day, as compared to dollars an hour, has a discrete selling benefit. P11 Discussion with UK SME commissioner bodies on familial and European matters consistently shows that the main issue for their members is regulation. The 2007 EU Observatory Survey found that 36% of SMEs within Europe reported that regulations acted as a restraint or had presented difficulties in the before two years. At the same time as progress has been at the EU level, for example on the encouragement of the Think Small First standard and the European Commissions promise to reduce organizational burdens by 25%, we think a much more ambitious set of measures should be introduced An additional important issue is access to finance, where we believe action should be focused on improving the demand side, in meticulous investment readiness, and the supply of modest amounts of finance for entrepreneurs who, for various reasons, are deemed to be a higher risk. In order to grow, SME must also have access to new markets. Generally, exporting firms have been found to benefit from greater efficiency growth than non-exporters. P12 The UK has to make a decision on membership of EMU in the next two years. The economic and fiscal regimes in the Euro Area and in the UK do not differ greatly. However, we argue that relationship of EMU will increase the steadiness of the economy and the credibility of the policy framework, and hence will enhance the prediction for growth and higher incomes and service.

Parallel Voices in Braided Lives Essay -- Braided Lives

Parallel Voices in Braided Lives The parallel voice is a device which is present in Marge Piercy's novel, Braided Lives. This technique enforces the effect of Jill's past life on her future life and views. A gauge of the protagonist's growth is given by parallel voices, a technique which enables the reader to see how the protagonist has developed from teenager to adult. The parallel voices of the young and adult narrator give insight to the changes that have occurred in her life. According to one critic, "Jill is survivor, and she chooses to examine her own past out of a strong commitment to the present" (Gold 378). The novel is a memoir by the adult Jill. It shows " the beginning and the fruits of her political growth," but it leaves the events in the middle up to the reader's imagination (Schwartz 379). She writes of her past experiences and how they effected her. She describes her experiences with objectivity. In her flashback, she can examine why she acted in a certain way. The elapse of time provides her with this objectivity. Since she is looking...

Assurance Hand Note in Kl

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

4 Things You Should Never Say In a Job Interview

4 Things You Should Never Say In a Job Interview We’re all familiar with that sinking feeling of dread that sometimes hits after you’ve shaken your last hand and hit the lobby button in the elevator- is it possible you said something that contributed to the warm interview fizzling like an off-brand sparkler? You thought you have answered everything perfectly, even some of those hardest interview questions. The editors at MedReps.com have compiled a list of â€Å"must-avoid† statements  for anyone about to embark on an important interview.1. â€Å"I’m a fast learner.†This goes alongside â€Å"I’m enthusiastic† or â€Å"I’m a people person† as a hollow expression that, on reflection, doesn’t make you look like a better candidate. Instead of saying you’re a fast learner, have an anecdote or two ready to illustrate a time when you learned something quickly- bonus points if you learned something easily relatable to the job for which you’re interviewing .Your demeanor in the interview should tell the interviewer that you’ve got enthusiasm and people skills, too. If someone in HR can’t sense it, a client won’t either.2. â€Å"I’m a perfectionist.†This one was probably original and compelling in early 1993, a younger and simpler time, but by now everyone knows it’s what you say when you want to offer up a socially acceptable humblebrag. If you think about it a little more, what you’re actually saying is that you need everything to be a certain way- and if something goes off-plan, you won’t have the skills to adapt and recover.3. â€Å"No, I don’t have any questions.†Do you want to have no questions because you don’t care about the company, haven’t thought about your role there, or because you think the specifics are immaterial? Or did you want the interviewer to think you don’t even have enough professional experience to know you’re supp osed to have questions? Bottom line- have questions.4. â€Å"What does your company do?†Ugh. Why would you interview without doing even a cursory Googling?! It’s even better if you have a recent (positive) news article to bring up- show your interviewer you have a brain, the ability to think critically, and those aforementioned people skills and enthusiasm.It’s what a perfectionist would do.

Indiana Legal Seperation Case Study

Indiana Legal Seperation Case Study Free Online Research Papers Todd and Amy Byzeck were married on August 7, 2000. While married they bought a house together that is located in Camby, Indiana and is worth $120,000, they have a mortgage of $100,000. Amy and Todd also recently bought a cabin in Michigan for vacationing a year ago. The cabin is worth $80,000 and the mortgage owed on the house is $60,000. Todd drives a 2000 Chevy Tahoe, and Amy drives a 98 dodge neon. Both have worked during the marriage: Amy works at Indiana Organ Transplant as a nurse and Todd is a general Manger at the Menards store in Camby, Indiana. Amy received a sign on bonus of $10,000 and Todd has received profit sharing in the company that is now worth $80,000. They have divided all personal property and all that is left in dispute is the house, the cabin, Todd’s profit sharing, Amy’s sign on bonus that is in the bank, and the money in an IRA account, which both have invested money in and is now worth $70,000. Todd argues that he made more money than Amy did and the profit sharing that he invested in started before Amy and he started dating. Todd also maintains that he was the one paying all the house payments for the last 5 years and that Amy paid for everything else. Todd states that he feels entitled to the house and his profit sharing and half the money invested in the IRA account. Amy argues that even though Todd made more money than she did, she has always been the one to clean the house everyday and maintain the upkeep by mowing the lawn, paying and doing all the grocery shopping, and paying all the utilities. She has no interest in the cabin in Michigan and states that Todd wanted it for hunting in the summers and maintains that she has never even been to see the cabin to this date. She feels that she is entitled to the house, half the money in the IRA account, to his half of his profit sharing, and also all of her sign on bonus through Clarian Health. As Judge, I find that the residence that is located in Camby Indiana should go to Amy Byzeck along with the mortgage payments; she is to receive her sign on bonus, and all of the money within the IRA account. If Amy decides to sell the house in Camby she is to receive all profits from the sale of the house. Todd Byzeck is to receive all of his profit sharing, and the cabin in Michigan, if he decides to sell the cabin he is to receive all profits. Research Papers on Indiana Legal Seperation Case StudyThe Relationship Between Delinquency and Drug UseTwilight of the UAWUnreasonable Searches and SeizuresThe Effects of Illegal ImmigrationLifes What IfsPersonal Experience with Teen Pregnancy19 Century Society: A Deeply Divided EraBook Review on The Autobiography of Malcolm XHarry Potter and the Deathly Hallows EssayStandardized Testing

Economics of Volatile Corn Prices Essay Example | Topics and Well Written Essays - 750 words

Economics of Volatile Corn Prices - Essay Example The primary reason behind rise in the prices of corn was due to its global demand against its restricted supply. The excess demand could not be met with the restricted supply, which resulted in the rise in prices of corn all over the world. Mexico is the second largest importer of corn in the world. The rise in the corn prices all over the world has affected Mexico to a great extent. Decline in demand of corn due to rise in its price can be depicted by using the following graph:- (Source: Fep, 2004) In this graph it is shown that when the price of corn in Mexico was $3 per bushel, its demand was 2 billion bushels per year and the supply was 1.1 billion bushels per year. Thus there was an excess in demand which could not be met by the supply. As a result of the price rise to $5 per bushel, the demand decreased to 1.1 billion bushels per year and consequently excess supply is generated. The market should move towards equilibrium at a price of $4 per bushel where the demand equalises th e supply. Another reason for the rise in corn prices in Mexico was the production of corn based ethanol in the United States and the European Union. The producers of corn had to suffer due to this price rise. Another reason for the high corn prices was the draught in the United States. ... Thus the country has to find ways to deal with the uncertainties of the volatile markets. The country needs to focus on the market conditions properly. The main problem that the consumers in Mexico will face is when they will visit the grocery stores. Corn and food ingredients made from corn are used in ? of the total grocery products. Thus higher prices will be found throughout the grocery stores. The livestock feed rations contain a considerable amount of corns, a extended impact would be observed on poultry and meat prices due to higher feed costs than in any other food products. Volatility in corn prices brings in unpredictability in the market and may create risk of fundamental food security for consumers as well as governments. Financial risk generated due to the volatility of corn prices dampens investment in agricultural sector which in turn creates uncertainty among traders and producers. Thus the Mexican government must take steps to bring an alternate solution to the exist ing problem. There are several programs involving the cash transfer conducted by the Mexican Government in order to help the poor people there. The procedure of agriculture by means of contracts was another procedure advised by the Mexican Government (The World Bank Group, 2013). When there is an agreement made to buy a particular quantity of corn within a fixed period of time, neither the buyer nor the seller is sure that who is going to be benefitted by the agreement. This procedure supports the producers when there is a fall in the price. The price difference is subsidized between the time of signing the contract and the time of its fulfilment. However, corn prices have plunged from their previous position in June 2011. Ethanol is considered to be a viable source of

Supply Chain Management, Vertical Integration and Horizontal Research Paper

Supply Chain Management, Vertical Integration and Horizontal Integration of Business Structure - Research Paper Example There are two main issues that we need to consider when making a decision for the vertically integrated, these issues are control and cost. However, the cost feature relies on the cost of marketplace transactions among corporate versus the cost of administering similar activities within a single corporate. On the other hand, the next concern is the influence of asset control that is able to influence barriers to entry as well as that can make a certain collaboration of main value-adding players (Susan Crawford blog, 2010). According to (Clinton et al., 2008) there are a lot of advantages of the vertical integration that potentially a present reduction in transportation costs if general possession results in nearer geographic proximity. In addition, it enhances the supply chain coordination. Also, it offers additional opportunities to differentiate through augmented control over inputs. Since the vertical integration captures downstream or upstream profit margins. This also augments the entry barriers to potential business competitors, for instance, if the company is able to achieve sole access to a limited resource (Clinton et al., 2008). According to (Clinton et al., 2008), there are also various drawbacks those can negate some of the potential gains attained through vertical integration. The main problem is about the capacity balancing. For instance, the corporation can require constructing excess upstream capability to make sure that its downstream operations have enough supply beneath all demand circumstances. In addition, there is a problem of the potentially high costs because of little efficiencies consequential such as lack of supplier competition. Also, there is some decreased flexibility because of the previous downstream or upstream investments. Furthermore, there is some less capability to augment product diversity if major in-house development is needed.     Ã‚