Raising Minimum Wage Essay

Corona English 1B 04/11/13 I want to start off by telling you a little bit about Ms. Criswell she works full time, with no benefits, and she hasnt had a order in three years. After taxes, she brings main office $1,030 a month enough, if shes careful, to meet her expenses, with little wiggle dwell. What I feel, she says, is anxiety. I felt it just this morning. Its constantly in the back of my heed Am I going to have enough to pay the bills? She grows what food she fuck and buys items that can be stretched out to multiple meals.To live with the concern of whether or not she volition be able to keep her home and feed herself shouldnt be an issue for anyone. They are programs to help starving children in overseas countries then maybe the government should stop and look at whats happening in America. We cant say Ms. Criswell is lazy and doesnt want to work, so how else can she bring home more income if she is limited to what is available. If tokenish wage was to be increased, t his would allow people to bring home more income and there are concerns and I will address them in the following. According to minimum-wage. rg, a full time minimum wage worker in California working 40 hours a week, 52 weeks a year, will earn $64. 00 per day, $320. 00 per week, and $16,640. 00 per year. The national poverty line for a family unit consisting of two people is $14,570 per year. This doesnt give much room for emergencies or wellness complications or even extra money to put away in a savings account, most families live pay give away to paycheck. With revolt gas prices and rent, theres no doubt that a bigger pay check can substancially lower the risk of going bank rupt or putting the health and well being of your child in danger.Cost of living has risen since the last time minimum wage was raised and therefore calls for a raise in the near future. I agree on raising minimum wage for a few reasons. Big corporations are making an enormous kernel of money, they should be a ble to compensate their employees at a decent rate. In California, the minimum wage is considered $8. 00 an hour provided is not limited to paying a new employee under 20 a minimum wage of $4. 25 for the first 90 days, or paying a full-time high instruct or college students working part time to be paid $6. 80 an hour.This is completely legal and it is to the discretion of the employer to determine the final wage. With companies are making thousands of dollars you would mobilise they would be able to compensate their employees at a higher wage. If companies could increase an employees salary, that means the employee can take home a bigger check which can turn out to be a good thing. Now more money is sexual climax in, the more they can spend on items that will in return create more jobs to supply the increase of demanded items. Now, I know more money means more spending may come along like a bad thingCost of living is an issue when the ideal living situation isnt customized to e very family More money coming into the house hold can mean money spent on items and in favor create more jobs to meet the demand. Those who oppose an increase to the minimum wage, however, argue that the effects on employment rates would be exactly the opposite of those supporters expect. A higher minimum wage, would be too heavy a burden on employers. We can see this being an issue with small business owners and those employers, in turn, would be unable to hire as many people.I understand that small business will have an issue hiring more people if the minimum wage is raised but on the other throw raising minimum wage will motivate people to go out and provide for themselves thus lowering unemployment rates. If minimum wage is applied inconsistently then it does seem unfair to a person living in a different asseverate with a much lower minimum wage, but we also have to give account to the cost of living in that particular state. Rent, food, bills, etc. , maybe be higher or depend ing on what state the person resides

Cost of Capital Essay

LEIs expect net income this year is $34,285.72, its established dividend payout ratio is 30 percentages, its federal-plus-state tax rank is 40 percent, and investors expect earnings and dividends to grow at a constant rate of 9 percent in the future. LEI paid a dividend of $3.60 per portion last year, and its stock currently sells at a outlay of $54 per share. LEI sack up obtain new capital in the following waysPreferred New preferred stock with a dividend of $11 can be sold to the public at a legal injury of $95 per share. Debt Debt can be sold at an interest rate of 12 percent.a. Determine the cost of each capital structure component.b. Calculate the WACC.c. LEI has the following investiture opportunities that are typical average-risk projects for the firm ProjectCost at t = 0 Which projects should LEI accept? Why? 2(382)2. The Heuser Companys currently slap-up 10 percent coupon bonds have a yield to maturity of 12 percent. Heuser believes it could issue at par new bonds t hat would provide a resembling yield to maturity. If its marginal tax rate is 35 percent, what is Heusers aftert-tax cost of debt? 2(383)3. Trivoli Industries plans to issue some $100 par preferred stock with an 11 percent dividend. The stock is selling on the market for $97.00, but Trivoli must pay flotation costs of 5 percent of the market price, so the net price that firm will receive is $92.15 per share. What is Trivolis cost of preferred stock with flotation considered? 2(383)4. Zwing-Zook Enterprises has a beta of 1.45. The risk-free rate is 6 percent and the expected return on the market portfolio is 10 percent. The company presently pays a dividend of $2 a share and investors expect it to experience a growth in dividends of 7 percent per annum for many years to come. a. What is the stocks required rate of return according to CAPM? b. What is the stocks present market price per share, assuming this required return? 1(77)

In Cold Blood Theme Essay

There are many another(prenominal) prominent themes in the novel In stone-cold Blood, and they cover a wide spectrum of topics. They include the effects (if any) caused by environment in childishness, how a person of any of locale can be a victim of hostility, and the presence of contrasting personalities.Truman Capote gives the lecturer a detailed account of Perry metalworkers and dick Hickocks puerilitys. metalworkers childhood was very problematic and scarred by years of abuse. He witnessed beatings of his mother by his father as a result of the domestic violence, his parents divorced. Due to these problems he rans away from home, and he was in and out of detention homes many times (277). He is severely beaten and humiliated by a cottage schoolmistress because of a mixuration malfunction. These violent episodes compelled his bitterness toward other humans. When Smith entered adulthood, he commited acts of thievery and acts of battery. While in the merchant marines, he once th rew a Japanese officer off a bridge and into the water. All these events had an impact on Smith, and his adulthood provided him with the opportunity to avenge the experiences that enraged him.Hickocks childhood was marked by no horror stories. His years of childhood showed no signs of abuse or neglect, but his parents were a little overprotective. He showed no real contempt for his parents or his childhood. Dicks inception into adulthood reveals his abnormal tendencies, (Reed 115) and in the novel proof is given by Hickock I think the main reason I went there the welter home was not to rob them but to rape the girl (278).The two killers childhoods were obviously dissimilar, and their differences bring to question the formation of a killers mind. Is it childhood that affects the criminal minds mentality? Smiths lack of companionship during his childhood led him to search for companionship in Hickock. Hickock took advantage of Smiths need by promoting Smiths fantasies. Hickock trul y felt that Smiths fantasies were ludicrous, but he supported his fantasies because he needed Smiths aid to commit the murders.A second theme of In nippy Blood is the randomness of crime. The Clutter family lived in rural Kansas hundreds of miles from a major(ip) city, and people of this small community felt a sense of security. The Clutter family murder made national headlines because this crime fit no stereotype. The Clutter family was come up loved and respected by the people of Holcomb, who would have never seriously considered a such(prenominal) a crime happening in their own backyard.The Clutter family was successful financially they lived as well as any other family in town. However, there was no jealousy of the familys success. This is another one of many reasons why this murder consternated the inhabitants of Holcomb, the investigators, and the rest of the nation.Another theme throughout In Cold Blood is the attraction of opposite personalities and what they can become on ce united. The endorser sees these opposing personalities in Hickock and Smith. The first scene of Perry Smith is with a guitar and a set of road maps. The guitar appears to function as a feminine image and symbol.The reader also learns that part of what attracts Hickock to Smith is that Hickock fells totally masculine by this association. In one scene the contents of the criminals automobile is mentioned. One of Perrys possessions is the guitar, and the instrument that typifies his combative companion Dick a twelve gauge pump-action shotgun. Another instance of Smiths feminism is Hickocks constant addressing of him as sugar, honey, and baby. Smiths feminine qualities are evident however, the reader is left to interpret their importance (Reed 113-114).In conclusion, there are many different themes throughout the novel. In Cold Blood discusses the issues of childhood influences, the randomness of a crime, and opposing personalities. These themes are unique in that they they can be molded into a nonfiction novel such as In Cold Blood.

Character and plot Essay

Discuss the ways in which Arthur Miller uses the characters of Alfieri to highlight cultural differences and to develop the audiences understanding of theme, character and plot. Arthur Millers A View from The nosepiece uses a character called Alfieri to introduce characters, the plot and theme of the level. Alfieri is an Italian American meaning he was born in Italy and immigrated to American to work. . He is a man of his 50s and in this story, not only does he chance the role of a character, but also a narrator.He makes us aware of the cultural differences between American and Italian culture through his opinions. He works as a lawyer from this we can presently tell he is educated and very wise. The immigration law changed in 1921-1924. This law only allowed people from Britain, Ireland and Scandinavia to migrate to America. This resulted to illegal immigration. A view from the Bridge is about the movement of immigrants migrating from Italy to America. They moved because of the American Dreams which was people from other countries going to America to start a new life and introduce a good living full of opportunities.The Italian migration happened mainly between 1820-1920. More than 4 million Italian people moved to America. Brooklyn Bridge and its border areas are used as the setting of the play. The word Gullet is used by Alfieri to describe the place where they live. The word is a metaphor and it creates an atmosphere that is not very pleasant to live in. Alfieris first speech introduces the background information of Italians. Italians would hardly ask a lawyer for help because in Italian culture lawyers are not good news, they are considered to be connections to disasters.The h ist and trustworthy Italians can be quite revengeful. They solve their own powers by taking matters into their own hands. Although Italians are settling into America their two cultures remain diverse. Repetition of the words Distrust, Law and Justice by Alfieri signifies them and the even suggests that the plot is based on these words. Alfieri understands both Italian and American culture and can conclude in his last speech how he feels about Eddie and what he has done.From the start Alfieri hinted that the ending of the play wasnt going to be a happy one. He says and sat at that place as powerless as I, and watched it run its bloody course. From that, we can backbone doom and that is why this play is a Greek tragedy. Eddie, Catherine, Marco use a lot of slang type sentences where as Alfieri uses long, well punctuated and sophisticated sentences. This linguistic technique makes the audience understand what is happened if they do not follow what Catherine, Eddie, Beatrice, Marco and Rodolpho are saying.The use of short, simple sentences spoken by the other characters makes the situation more realistic, makes the audience perk up because it is very fast and the characters speak more often. Arthur Miller also uses a lot of exclamation marks so that t he sentences are more interesting and so that the actors know when to shout or act exaggerated, this is a very good technique. With the use of exclamation mark the sentence gets energy. There is more attention than if there were long sentences. In the play there are four main characters. Eddie (a protagonist), Catherine, Beatrice and Alfieri.Eddie, a protagonist, meaning that he commits an offence without knowing it he then learns his shimmy and usually results in death or suffering. He gains Alfieris sympathy towards the end of the play. Eddie loves Catherine not only as a niece but also as a daughter and a friend and Alfieri knows this. Eddie was over protective and loved Catherine too much which proved to be fatal. Alfieri knows that Eddie does not want to any one to take her away from him, but on the other hand, she does not belong to him. He says And yet, it is better to settle for half, it must be Marco kills Eddie in Act 2. We do not know if he intended to or if it was for s elf-protection but in a way, this is revenge. When he was talking to Alfieri, he says In my country he would be dead by no. He would not live this long. Alfieri understands how he feels but tells him not to kill. He is in America right now and such a deed can result to a life sentence. He says To promise not to kill is not dishonourable. Italians are not as civilised as Americans but this is one of the cultural differences between the two diverse cultures.Arthur Miller includes many stage directions leaving the director making up more of their own directions. Alfieri plays the part of a character and a narrator making him A view from the bridge because he is looking and dealing with the situation and also telling the story as if it happened yesterday, this helps him to tell the story and give opinions making the audience aware, have a better understanding of the play, the characters and the plot. The moral of this story suggested by Alfieri is we should be satisfied with half if n ot the whole amount.

Review on How to talk so people would listen

How to blether so people give listen Introduction The author Steve browned offers the student a helpful guide to effective communication. He emphasizes the sanctioneds of quarrel and conversation and makes us aware that speech allows us to communicate to others quickly or easily about our needs, feelings and desires. Speech allows us to correct false impressions or destiny our ideas. We are able with speech to encourage reprimand or inspire. With speech we can also express anger, love or Joy.Brown makes us aware of some of the setbacks which intromit include fear, speaking with authority, not wasting time, and inning the right to be heard. , He gives us the basic principles of how we can overcome such. Brown argues that if a verbaliser can master these basic principles, he or she can gain an audience and effectively speak to be remembered. Review In this book how to talk so People will listen, includes a wealth of advice and insightful information for the communicator.We are reminded that spoken communication have power when God speaks his very speaking accomplishes the purpose of His word Isaiah 551 1 . Whether the ref has never made a speech before or he is a well- naturalised and experienced professional, this book is very useful. Brown realizes the ower that speech has to influence people. For this reason it should be important to everyone who has a desire to impact an audience. The reason m whatever people avoid public speaking, though, is because of the intimidation factor. Brown reasons that fears and intimidators moldiness be faced confidently and realistically.Failure should be seen positive(p)ly as it is harder to learn from success than it is to learn from failure. The vocaliser must not allow his performance to influence his feelings of self- value. Positive thinking about oneself and a positive optimistic mindset should enable the orator to face his fears and thus conquer them. In this culture, an audience will not listen unless the speaker communicates with authority. Brown explains if you want to talk so people would listen it is all important(p) that you have the right words for the message you want to communicate.Thus having a good vocabulary is one of the primary winding elements of speaking with authority Words express the most power when they are properly used, so a thorough understanding of language is essential. The right words at the right times are of utmost importance in effective communication. Brown goes on to describe further roadblocks that negatively influence speech and in turn remove the authority of the peaker. These roadblocks include a lack of clarity or precision and insensitivity. They inhibit communication and remove the authority of the speaker.The book continues to emphasize important characteristics of speech by opposing any waste of the audiences time. Brown describes elements of communication that carry over into one-on-one relationships as well. He realizes that speaking in f ront of large audiences should be as relational and should have as strong of a touch baseion as speaking with Just one person. For this reason, attributes like humility and empathy go Just as far from the lectern as they do in a personal conversation. If the speaker demonstrates that ne is personable and esta blisnes a connection witn his audience they will no longer feel as if their time is existence wasted.Other ways to not waste the audiences time are to add some unconventionality in your communication, express passion, share illustrations, and most basic of all follow the rule that the longer the speech, the greater the chance of failure. The final sine qua non that a speaker must address is the winning of the right to be heard by the audience. The speaker must go to great lengths to understand and relate to his audience. The same speech to two very incompatible groups of people hould most likely be very differentThings such as age, education, attention span, and locale sho uld all be taken into consideration in the preparation of a speech. If the speaker can connect with his audience, he can then impact them. But if no connection is established then any speech will most likely be forgettable. The audience should influence the topic, the presentation, and all other elements of a speech. If these things are taken into account, the speaker will win over the right to be heard. Lastly, Steven Brown convinces the reader to speak to be heard and remembered as is title suggests.

Company Auditing

gaining appellation HBC614B smart set Auditing split up 1 THE external AUDITING STANDARDS BOARD AND ITS IMPORTANCE TO THE DEVELOPMENT OF AUDITING STANDARDS IN AUSTRALIA AND NEW ZEALAND The International Auditing and arrogance Standards Board (IAASB) is an independent threadb ar setting body within the International Federation of Accountants (IFAC). Established in 1978, origin entirelyy known as International Auditing Practices Committee (IAPC), it flipd its name to IAASB in early 2001 and was then reformed by IFAC in 2003.IAASB puts human race interest first and aims to improve the shade and uniformity of practice through extinct the world and to strengthen normal confidence in the global size uping and assurance trade by facilitating the convergence of external and national standards. IAASB is move to achieve its objectives through the following works Developing Standards establish utmost quality inspecting, review, other assurance, quality engage and link servi ces standards, much(prenominal) as International Standards on Auditing (ISAs). orbicular Acceptance & crossing promote the acceptance and adoption of IAASB pronouncements throughout the world and support a strong and solid international accountancy profession by coordinating with IFAC member bodies, regional organisations and national standard setters. Communication advocate debate and present papers on a variety of take stock and assurance issues and subjoin the e very(prenominal)day image and awareness of the activities of the IAASB. To date, the IAASB has earned revealment recognition for the quality of its standards and the believability of its standard setting lick.This has contributed to the increasing use of its standards worldwide. Over 100 countries are now using or are in the process of adopting ISAs into their national scrutiniseing standards. For investors in international capital grocery stores, the quality of examine reports and take stock opinions on fiscal reports are crucial when they make decisions about capital allocation. Audits, working within internationally accepted auditing standards, increase the credibility and reliability of the financial information provided in the financial reports.As Australian capital markets are increasingly link with overseas markets, it is central to catch a globally standardised financial reporting poser that is back up by globally accepted auditing standards. The Australian Auditing and Assurance Standards Board (AUASB) made the compliance with IAASB standards easier via a long-standing insurance of convergence and harmonisation with ISAs. The AUASB uses ISAs as a base to develop Australian Standards on Auditing (ASA).For whatsoever rescript and enhancement of ISAs initiated by the IAASB, the AUASB forget make permit consequential amendments to ASA. The AUASB and IAASB generally issue an expo reliable engage of a proposed auditing and assurance standard con periodly for considerat ion by interested parties. In bare-assed Zealand, New Zealand Auditing Standards (AS) and Audit Guidance narrations (AGS) are to a fault based on ISAs and International Auditing Practice Statements (IAPS). The New Zealand auditing po 10tial adopts the IFAC documents and amends them only as necessary to achieve its 1 of 11 Group Assignment HBC614B fellowship Auditing objectives. Amendments to the IFAC documents may be made to reflect peculiar(prenominal) proposition New Zealand legislative requirements or to reflect specific audit practising arrangements within New Zealand. As we can see, for years since IAPC or IAASB was established, it has played a very essential role in enhancing and standardizing the quality of auditing and assurance services around the world. ============================= 2 of 11 Group Assignment HBC614B go with Auditing PART 2 CO-REGULATION OF AUDITING PRACTICE IN AUSTRALIAIn most developed countries, including Australia, the auditing regulatory fr amework is provided, at least to some ex ten dollar billt, by government through legislation and government agencies. In the past, however, the auditing profession in Australia was largely self-regulated through the rules and requirements self-imposed by the principal players in the field, i. e. auditing firms and auditing professed(prenominal) bodies. As a result of the Corporate Law Economic Reform Program (CLERP) 9, the Auditing and Assurance Standards Board (AUASB) became a statutory (government) body.Since April 28th 2006, the Australian Auditing Standards (ASAs), which drive been released by AUASB for purposes of section 336 of Corporation Act 2001, have Force of Law. The pecuniary inform Council (FRC), a statutory body at a lower place the Australian Securities and Investments Commission Act 2001 (ASIC Act), is responsible for providing vast lapsing of the process for setting accounting and auditing standards as well as monitoring the effectiveness of listener libert y requirements in Australia.Yet the control and enforcement mechanism of these standards is also supported by the auditing profession represented by two primary superior accounting organisations CPA Australia and the Institute of Chartered Accountants in Australia (ICAA). Although the membership in these two organizations is voluntarily, it is still a necessary condition to get registration as a Comp any Auditor or a Liquidator. Some methods of control of quality of the auditing services imposed by these professional organisations include peer reviews, continued professional development and periodical rotation of the auditors. at that place are also disciplinary procedures in place to encourage improved ethical behaviour and quality of service provided. This token sit of co-existence of government regulation and assiduity self-regulation in Australia is called co-regulation of auditing practice. Co-regulation provides interactions that produce hugs for the refinement of regul atory structures in terms of openness, consultation, independence and speed of response to urgent accounting problems Malcolm C. Miller. ============================= 3 of 11 Group Assignment HBC614B Company Auditing PART 3 QUESTION 6. 3 ASA 315 UNDERSTANDING THE ENTITY AND ITS ENVIRONMENT AND ASSESSING THE RISKS OF MATERIAL MISSTATEMENT HOMECHEF PTY LTD. A first and very important step of the audit process refers the auditor gaining an early apprehensiveness and cognition of the clients vocation. In fact, ASA 315 requires that this step is carried out during the audit proposening stage. The auditor must obtain or update their discernment of the clients processs and pot, including its organisational structure, management policies, the bon ton position in its industry, the economy and its legal obligations.ASA 315 provides capacious guidance on results related to obtaining an consciousness of the entity and its environment, which may be classified into three main categ ories (1) familiar control / organisational structure (2) Operational and legal structure (3) Industry and economic conditions An catch of these three elements helps the auditor assess the clients business adventureiness and identify the events, transactions and practices that may have a significant effect on its financial report. This report presents a recent review of the operations and circumstances of one of our clients, HomeChef Pty Ltd. in accordance with the requirements of ASA 315. The main objective was to identify the events and developments at HomeChef which may have a significant bearing on the participations business take a chance and consequently affect our audit. This understanding depart help us see and perform the audit more efficiently and effectively and will ultimately improve the services we provide to our client. HomeChef Pty Ltd has been the market leader in the boutique food and boozing industry for the last two years.The political party manufactur es, supplies and retails quality ingredients for use in the home kitchen and small eatery market. During the review our audit group identified a number of major events/transactions that may have a significant impact on the business and affect our audit process. Below is a instruct discussion on each of these events/transactions 1) New products and services Recently, HomeChef introduced pre-packaged meals suited to be served at a dinner party. Preparation of the ready to serve meals would require extra steps to produce the final product.This would involve more processing facilities, more staff and more advertising. One potential related business attempt might be the increased product liability. There may be extra compliance requirements from the forage Safety Regulators. There could also be risk that the demand has not been dead-on(prenominal)ly estimated. The alliances capital and current expenditure may increase significantly because of the launch of the late product. This home scats to increase our audit risk. The auditor, therefore, should carefully consider how this changing operating characteristic may affect his/her auditing process.For example, he/she may lack to review some Food Safety Regulation requirements to assess that go down amounts of expenditure is attributed to this particular type of compliance or refer to some industry literature to get a let out understanding of the niche market for this type of product. Reviewing 4 of 11 Group Assignment HBC614B Company Auditing gross revenue figures and sales agreement forecasts may also help to assess to what degree the troupes business risk may be affected by this tonic development. 2) New lines of business HomeChef has recently opened a number of small cafe where customers can sample the s companys product range.By doing so, the company is venturing into unfamiliar territory. In addition, the notes of HomeChefs draft financial report reveal that the company has entered into symmet ricalnesss for building and developing a new entertainment complex. These events indicate not only changes in the companys useable structure, but also those relating to its environment. New opportunities bring new risks. As this is HomeChefs first venture into a new business theater of operations, lack of expertise and experience could be a real tint. The hospitality industry operates quite differently from the food manufacturing.There could be many more competitive forces and regulations in place. This move could change the organisational/operational structure of the company drastically. For example, new divisions may need to be established and the company pecking order changed. Apart from the potential risks of increased product liability and inaccurate demand estimates, similar to the case of all new products, this could introduce new risks associated with the companys innate control. Also, the companys potential business risk would increase its inherent risk. In general, this event is likely to increase our audit risk.It is very important that the auditor familiarises him/herself with the companys new operational structure, the industry conditions and regulatory environment related to this new line of business. Reviewing the hospitality industry publications and significant industry legislation may assist with basic understanding of how the company business risk is affected by this move. Aggressive marketing and acquisition schema quick growth Over the last two years HomeChef has acquired a number of smaller competitors and become the market leader in its industry.This is an indication of the companys aggressive approach to expansion and growth. In such situations, it is often noticed that a companys infrastructure is likely to lag behind in the process. In a hurry to expand, the organisational structure of the company may be changing too fast. There could be staff members with insufficient experience, the IT establishment may not cope well unde r the new conditions as new procedures and processes are added in. This significant and rapid expansion of operations could create strain and increase the risk of a breakdown in controls.The auditor needs to discuss with the senior management and gather evidence from the companys documents to assess this risk. He/she may need further understanding of the current cycle in the industry, to assess how this acquisition spree could affect HomeChefs business risk, and consequently the audit risk. Reviewing government statistics, trend forecasts, trade journals and financial newspapers may help improve the auditors understanding of the industry in general and the business in particular.Changes in key personnel The departure of a key executive (HomeChefs finance director), probably with a significant loss of corporate biography and experience, may also have an impact on the business. The new finance manager has been with the company for less(prenominal) than a month and may take some time to gain the knowledge and understanding of the business. He may have a different focus or 3) 4) 5 of 11 Group Assignment HBC614B Company Auditing understanding of the companys internal control.The auditor should take this factor into account when assessing the risks of misstatements associated with the companys financial report which, possibly, has been prepared under the instructions of the new finance director. 5) Newly-established internal audit group HomeChef started using the service of an internal audit group for the first time this year. Generally, the existence and operation of an internal audit group indicate the commitment and serious consideration given to maintaining high standards of internal control by the management. This would normally reduce the control risk in a business and later reduce the audit risk.In addition, the external auditor could, to some extent, use the work of an internal auditor, after having gained knowledge of and satisfied with the scope of in ternal auditing and the audit teams technical competence and professional care. However, in this case, as HomeChefs audit team is new, careful considerations are required if the auditor is to rely on the internal teams audit work. Installation of a significant new IT ashes related to financial reporting HomeChef switched to a new computer system early this year. The system was installed by a professional computer company and the old and new systems were run parallel for 3 months.Some new functions/modules have been introduced in the new system, including the ability to process stocktake results, account payable invoices and payments at the store level. This event highlighted a major change in one of the companys internal control components. It seems that the new system is rather reliable as a systematic testing plan and an integrity checking process were carried out by the professional computer company and there have been no major problems with the system so far. The use of this ne w system could potentially decrease the companys control risk. The audit strategy could focus on test of control.A proper and systematic testing plan on the new system is recommended, especially on the new modules for stocktake and accounts payable process. Significant amount of non-routine/non-systematic transactions HomeChefs draft Income Statement includes an extraordinary item of $231 million without any notes or explanations attached to it. The existence of this extraordinary loss would for sure have a significant impact on the business and would increase the audit risk considerably. This particular transaction requires a significant amount of attention by the auditor.Enquiries should be made to understand the disposition and extent of all relevant details of this transaction. This would help the auditor assess if the transaction is legal, not dismissing the adventure of fraud, or errors, such as transactions enter without substance, intentional misapplication of accounting policies, mathematical mistakes, oversight or misinterpretation of facts. The auditor should also examine if the valuation and allocation of the amounts have been done correctly. Company records and legal documents will need to be reviewed. An extensive substantive audit approach would be suitable for this particular area of the audit.Debt structure Covenant agreement Note (e) to the draft Financial Report reveals that a covenant agreement exists between HomeChef and its bank. The bank loans are secured against the companys remaining property, plant and equipment. This agreement specifies that the company should maintain a 6) 7) 8) 6 of 11 Group Assignment HBC614B Company Auditing positive wampum tangible asset ratio and a positive current ratio. Given the large amount at stake, there is a great incentive for the company to falsify, alter and manipulate figures to achieve these positive ratios at any cost.This situation would increase HomeChefs business risk significantly and consequently increase our audit risk. The audit plan could focus on substantive testing of the accounts related to the current ratio and plunder asset ratio. The auditor must exercise reasonable care and skill and maintain an attitude of professional scepticism throughout the audit. Based on HomeChefs financial ratios being adverse and the subsequent encumbrance in complying with the terms of loan agreements, the auditor may need to raise a dismission hit issue.It would be necessary for the auditor to discuss this problem with HomeChefs management so that appropriate measures could be taken by the company to overcome this situation. As a result of reviewing HomeChefs operations and environment, including its financial and marketing position, using the precepts of ASA 315, our audit team has been able to update our knowledge of the companys situation and assess our audit risk accordingly. This understanding and judgment will direct the development of our strategy and plan for th e audit of HomeChef. ============================ 7 of 11 Group Assignment HBC614B Company Auditing PART 4 QUESTION 6. 22 IMPACT OF BUSINESS RISK ASSESSMENT ON AUDIT STRATEGY This report presents a compendious case study of interweave Limited. The main purpose of the case study is to look at how caper Risk impacts on Audit Risk, and consequently, on Audit Strategy and Plan. lift Limited is a virtually held private company, manufacturing high-quality woollen cloth. It has been in operation for almost 60 years and the CEO of the company is also its major shareholder.Currently, the company is under a great financial stress due to increased ambition and falling sales volume. Three years ago the company was sued for dumping chemical pollutants into the local river. As a result, a settlement was signed with the Environmental Protection Agency providing that rove construct a water handling facility within five years. Our Audit Firm has been auditing Weave for the last ten years, and the current year interim audit revealed that there has been virtually no activity in the piddle Treatment Facility Construction account in the current financial year.To prepare for this year audit we need to take the following steps (1) review the companys business risk i. e. the risk that Weaves business objectives will not be attained due to the above-mentioned pressures and, ultimately, the risk associated with its positivity and survival. (2) assess the implications of the companys business risk on our audit risk (3) develop our audit strategy and audit program in response to the assessed risks. In order to assess Weaves business risk, we felt that a PEST analysis would be the most appropriate approach.It involves identifying the political/legal, economic, social and technological influences on an entity. Environmental Protection Laws may have a heavy terms on the business. Compliance with these Laws (such as building a water treatment facility) may be very expensive, b ut non-compliance may actually have a suicidal effect on the company. Economic risk should also be taken into account. Increased competition and limited market for Weaves high quality and possibly expensive products could pose a serious threat to the companys profitability and ultimately its very survival. Social risk component is also present in this case. The surrounding area is poor and unemployment rate is high. The companys management may feel a social pressure to provide employment at any cost. The obligation to build a water treatment facility could be very expensive and resource-consuming. It is not an easy task to estimate or to make furnish for the resources required to meet this obligation. It is even harder to estimate the costs of not meeting this obligation. This adds unusual pressure on the management.Potential incentives could arise for management to understate the companys profit/ change flow to use as an excuse in an attempt to avoid fulfilling this particular li ability. This situation is likely to increase Weaves inherent risks. 8 of 11 Group Assignment HBC614B Company Auditing In assessing the companys control risks, certain observations and issues have come to our attention which suggest an unsatisfactory internal control system The companys CEO is also its major shareholder who seems to be a strong character that has the overriding authority and decision making power. The CEO does not seem to take the compliance with the conditions imposed by the Governments Environmental Protection Agency seriously. He opinionated to stop work on the water treatment facility as he thought that the State would not fine or close the company down for non-compliance. The company does not seem to have any risk assessment policies or procedures for dealing with business risk. Based on the above findings, the audit team agreed that Weaves business/inherent risks and control risks could be assessed as high.This conclusion has had an impact on our audit strategy and audit plan. As we believe that the control risks are high, an audit strategy of a preponderantly substantive approach has been adopted. We do not plan to obtain a thorough understanding of the companys internal control or to carry out tests of control. Instead, we plan extensive substantive audit procedures based on a low to medium acceptable level of detection risk (depending whether the assertions under examination are at risk).In response to the high level of inherent risks, we decided to assign more experienced audit personnel and to conduct the audit with a heightened degree of professional scepticism. As mentioned earlier, an accurate assessment of the extent of liability related to the breach of the environmental laws is not easy to achieve. As the companys management does not seem to recognise the seriousness of this risk or to respond to it properly, we decided to engage environmental and technical experts to assist by providing us with legal/environmental opin ion and estimates.The strife of an environmental consultant will be scheduled to happen before the year end audit. Weaves increased inherent risk and control risk increase our audit risk. Some assertions in the companys financial reports have been identified as the key audit assertions as they tend to be more at risk. These assertions will be examined closely (please refer to the matrix below) and more efforts will be focused on obtaining sufficient and appropriate evidence to test these assertions.Financial Acct Liability Acct (provision for water treatment facility) Contingent Liabilties Valuation of the provision Sales Acct (Income Statement Assertions) Completeness all sales recorded Accuracy of recorded sales amounts Correct accounting period cut-off Inherent Risk Control Risk Debtors confirmation Assertions at risk (Balance Sheet Assertions) Completeness of all liabilities Inherent Risk Engagement of environmental expert/consultant honorable mention / project estimations are recorded properly with appropriate amounts Audit Risk Procedures/Evidence 9 of 11 Group Assignment HBC614B Company Auditing To test if the liability account for the water treatment facility contains any material misstatement we will focus on whether the account has included all liabilities as per the environmental specializers advice and the amounts are properly estimated and recorded (completeness and valuation). We could do this by seeking confirmation from the environmental specialist and checking estimates/quotations for the project.To support the companys claim of low sales volume and low level of cash flow, we will test if all sales transactions pertaining to the company have been included in the income statement (completeness) and all sales occurred during the current accounting period have been properly recorded with the correct amounts (accuracy and cut-off). Collecting debtors confirmations could be the approach to carry out this test. As our team has audited the comp any for the last ten years, it is assumed that there must be a certain degree of familiarity and complacency.However, due to the new developments in the company situation, more specifically, higher level of business risk, this years audit strategy and plan have been revised accordingly. Apart from additional audit procedures and probably a larger sample size, our team will need to maintain a higher level of professional scepticism to make sure that the companys accounts contain no material misstatements. It should be noted that had this audit been undertaken in the ordinal year after the signing of the settlement with the Governments Environmental Protection Agency, the situation would be different.As the condition of the settlement to build a water treatment facility would have been breached by now, there is an imminent threat of the company being closed down by the government. A going concern assessment at the planning stage (as required by ASA 570) would provide the following go ing concern problem indications (1) increased competition and falling sales, (2) noncompliance with statutory requirements, and (3) legal proceedings against the entity. In cases where going concern is related to cash flow or solvency problems, some mitigating factors could be considered (such as sale of assets or additional contributions by owners).However, in this case, it could be judged that a going concern basis is not appropriate as the business is now subject to closure by government regulation enforcement. We, as the auditors, would need to discuss ways to deal with the problem with the companys management. The possible outcomes could range from renegotiating the settlement agreement to making the decision to liquidate. In the latter case, the auditors would have to assess the impact that a forced sale of assets would have on the book values and the classifications of assets.The auditors would also need to assess the amount and classification of liabilities, including any pr ovision for staff termination payments and other closing-down expenses. In any way, if going concern is an issue it should be adequately reflected (disclosed) in the Financial Reports. The Auditors Report should also include an emphasis of matter ASA701. 09 & ASA570, clearly stating that there is a significant uncertainty regarding a going concern problem. ============================= 10 of 11 Group Assignment HBC614B Company Auditing REFERENCES 1. 2.Australian Auditing and Assurance Handbook, 2007 Edition, CPA Australia Australian Governments Financial Reporting Council 2005, Australian Governments Financial Reporting Council, viewed 20 May 2008, http//www. frc. gov. au/about 3. skeleton History 2008, International Auditing and Assurance Standards Board, IAS Plus, Deloitte, viewed 18 May 2008, http//www. iasplus. com/ifac/iaasb. htm 4. Chris Pearce, Parliamentary Secretary to the Treasury, 22 November 2004, The future of government regulation in Australia, Address to the 21st National Conference of Chartered Secretaries Australia, viewed 19 May 2008, http//www. reasurer. gov. au/DisplayDocs. aspx? doc=speeches/2004/001. htm=005=cjp=20 04=1 5. Gay & Simnett, 2007, Chapter 6 Planning, Knowledge of the Business and Evaluating Business Risk, Auditing and Assurance Services in Australia, revised edn 3, McGraw-Hill Australia Pty Ltd. 6. International Auditing and Assurance Standards Board 2008, IFAC, viewed 18 May 2008, http//www. ifac. org/IAASB/ 7. James M. Sylph, January 14, 2005, Global Convergence Near or Far? , American Accounting Association Auditing Section 2005 Mid grade Conference

History of Talk Radio Essay

What do we know about the bill of palaver receiving set? Has talk tuner been successful in helping Ameri muckles deal with cultural changes? passim history, receiving set has been a study source of communication where we were able to hear the upstartst intelligence and up-to-the-minute events of the quantify catch. Through wars, depression, Presidential debates and changing times we were able to turn on the wireless receiver and listen to a receiving set talk show that panned in on these events. We were able to hear discussions that offered opinions in which we could each agree or disagree and radio set talk shows provided a means by which we could be certified on the latest news and events, even before television existed. 1Can We sing The Power and ascertain of palaver Shows by Gini Graham Scott, offers that both radio and TV arrest grown up at a time when America and the whole world commit been going through an unprecedented period of turmoil and technologic upheaval. Radio, came of age after World War I during the 1920s and 1930s, when America was transformed from an isolationist power focused on material growth to a member of a world club which experienced major growth to a member of a world community which experienced major cultural changes and a worldwide depression. Political forums continue to be a part of talk radio programming in the past and present. In the past, before teleph superstars were invented there was no easy way to communicated with radio personalities, but when telephones emerged, call-in talk radio shows evolved and offered a means to communicated with the radio personalities which made talk radio so much more(prenominal) interesting than before, especially where politics was concerned. We were able to listen to the opinions of the public on policy-making issues, non just the ones from radio personalities on the talk radio programs. 2 David Barker, condition of the book, Rushed to perspicacity Talk Radio Pers uasion, and Ameri potty Political Behavior, talks about call-in talk radio shows and delves into the question, is political talk radio a thing of the past. Barker says some have asked whether this new medium dope serve as an agent of deliberative democracy, spurring Ameri fires to form pseudo-communities, where policy choices argon debated in an free-spoken forum, thus bringing American politics closer to a democratic ideal. We often wondered if talk radio programs would frenzye in popularity and just become a thing of the past times. More than of all time talk radio has boomed since Howard Stern came on the scene with his outrageous behavior, with comments that were so bold that his personality grabbed the attention of America. He talks about everything from women to politics and doesnt stifle his views on either. Now is a good time to evaluate the effects of political talk radio because the medium is no longer a fad and shows no signs of fading. Talk radio offers a setting for new media to be discussed, while people can listen from the convenience of their platefuls or automobiles. Given the prominent place of talk radio stations in most markets we have now had the time to critically evaluate the effects of a medium that is not disappearing. Are news trends changing on talk radio? 3The website, that answers this question is www.pbs.org/now/politics/talkradio.html. It shows that word of honor trends are changing. A recent poll showed than an increasing percentage of younger Americans get their news from late night television, and a December 2002 Gallup Poll showed the percentage of Americans who got their news from talk radio has nearly two-fold since 1995, from 12 percent to 22 percent. Was AM talk radio popular by the 1980s? 4 By the 1980s, AM radio was close to death. Most listeners had tossed it on the trash heap of engineering science in promote of FMs clarity for music. It was Rush Limbaugh who reinvigorated AM radio and gave it a new purpose, pavage the way for m each talk show hosts who collectively resurrected a bandwidth most were all too happy to ignore. Religious stations have always been around, in talk radio history? 5Soul Talk is a weekly one-hour radio show that has been broadcasting continuously since February of 1996 on Koop 91.7 FM, in Austin Texas. This is just one of many of the religious programs that have broadcasted since radio prototypic arrived on the scene and strong religious beliefs have maintained its stance with Americans. Soul Talk articulated spiritually from a pluralistic, universal perspective with relevance to current and social and moral issues. The show offers a venue for listeners to share their sacred and ethical beliefs at the radio table, to be encouraged and spurred to action through positive expressions of faith, in a breezeful setting. Whats Cookin with Soul Talk Radio? A Spiritual Feast to leaven the world Soul can be located at www.soultalkradio.com/. How much do we know about early talk radio? 6 Early radio news was usually nothing more dramatized documentary of events. Live recordings were unheard of and technology difficult if not impossible. Rather than simply report events, radio producers felt dramatizing the events would bring the news home more effectively. By 1928, Roy Edward Larsen was the General Manager of Time Magazine. It was Larsen, who, as Circulation Manager, increased sales of the magazine from 25,000 to 200,00 in a few short geezerhood. Media theorist, Marshall McLuhan, referred to Larsen as an electric man, sensitive to the latest modes of communication and its push on society. Larsen involved Time in radio as early as 1924 with a sustaining prove program called Pop Question. Then in 1928, in cooperation with Times Radio Executive, Fred Smith, he began way out throughout the country over 33 stations daily release of ten minute news briefs drawn from the pages of Time, Larsen called News Casts. The following year they supplemented these News Casts with electrical transcription dramas, ten proceeding in length, called News Acting which featured professional actors and sound effects of current news. What was one of the first talk radio programs? In the year, 1931, The University of Chicago Roundtable broadcast by NBC, where University scholars engaged in happy discussion and the show slightly resembled the late phenomenon of talk radio. Archives, provide talk radio shows from the past.7 The archives are back Thanks to the technical wizards of World Talk Radio, all previous shows are once over again available for your listening. World Talk Radio brings you the most renowned well-behaved War experts and entertaining enthusiasts ever assembled. Check the archives each week for a new and captivating exploration of politics, personalities, and military campaigns. Civil War Talk Radio is provided to listeners by World Talk Radio and the show host and guests. in that respect is no charge to listen or download, but all contributions and donations are said to be welcomed. You can make contributions at, total to Civil War Talk Radio, Civil War Talk Radio, World Talk Radio, www.worldtalkradio.com/show.asp?sid=150 Talk radio has come a long way in history to in the end being capable of displaying and discussing photography. 8 photo Talk Radio Where you can really see photos on the radio, the dynamic internet talk show for everyone evoke in photography hosted by Howard Lipin and Michael A. Garcia Cr. Photographer, providing you the best entropy and ideas anywhere to help you make your photography more enjoyable and better than ever. With nearly 60 years of day-to-day photography experience between them, Howard and Michael bring Photo Talk Radio alive with concrete hands-on, simple to understand, How Do I Do That? tips and in depth interviews with photo industry leaders and photographers. Their burster is to keep you informed, inspired and coming back for more. In the ever-changing world of photography, Photo Talk Radio, The widely distributed Voice of Photography, and the place Where You Really Can See Photos On Radio is the go-to resource for everyone interested in photography from the enthusiast to the pro. Photo Talk Radio, World Talk Radio, www.worldtalkradio Talk Radio shows have been a part of a stage for political opinions, not excluding the war with Iraq. 9 This week should be remembered for opening the fifth year of the war in Iraq and for the halting efforts of one chamber of Congress to make course of instruction 5 the last. But, right now, Washington is delighted to be distracted by a new crisis in full boil. Its not the controversy over health care for veterans. That one blew up in late February and grew rapidly to national proportions before receding. It will be back, but for the moment it has to become a subject of multiple investigations and editorial hand-wringing. 10 Many books feature information on talk radio such(prenominal) as a book written b y Eric Bogosian, The requirement Bogosian Talk Radio, Drinking, in America, Funhouse and Men Inside. The Author writes, Reading Talk Radio today is confusing. First of all, there are two Talk Radios The play and the film. Eric Bogosian also says, Talk Radio was not based originally on any radio personality. despite its title, Talk Radio is not an in-depth, researched, generic documentary. There is no radio station set up like the one in the play. Instead, he wanted to use the format, one few people had any sense of in 1987, as a launching pad to talk about egos and the mass media in general. He loved the notion of this vast landscape of people, the callers. He goes on to say, I had listened to numerous talk-jocks, curiously Bob Grant and Gary Dee and drew from my pre-teen experience of the legendary Alan Burke and Joe Pyne, two TV talk guys from the mid-sixties with razor blades for tongues. But, when the movie came out, the strangest thing happened, a new guy had showed up and was making big waves shortly after the movie came out his name, of course Howard Stern. Radio talk shows have provided entertainment for ourselves and our ancestors and I couldnt imagine not being able to turn on my radio to listen to a mathematical group of people discussing the latest issues or simply just an off-the-wall subject, for the sheer thrill of entertainment purposes. Talk radio will always be around and with satellites on the scene, radio is becoming even more popular than ever with more and more money being spent on new and updated radio systems and monthly and yearly subscriptions.Scott, Gini Graham, 1996, Can We Talk?, The Power and Influence of Talk Shows Insight Books, Inc.Barker, David, 2002,Rushed To theory Talk Radio Persuasion and American Political Behavior Columbia University Press2007, Now, Talk Radio, governance and Economy, www.pbs.org/now/politics/talkradio.htmlDeitz, Corey, 2004, Right Wing Conservative Talk Show Hosts, Bashing AM And FMWhats Cookin With Soul Talk Radio? A Spiritual Feast To Leaven the World Soul,www.soultalkradio.com/March of Time, www.otr.com/march.htmlContribute to Civil War Talk Radio, Civil War Talk Radio, World Talk Radio,www.worldtalkradio.com/show.asp?sid=150Photo Talk Radio, World Talk Radio, www.worldtalkradioElving, Ron, 2007, Gonzales A Timely Distraction For aAll Sides? NPR, Watching Washington, www.npr.org/templates/story/story/php?storyId=9030022Bogosian, Eric, 1994, The Essential Bogosian Talk Radio, Drinking in America, Funhouse and Men Inside, Theatre Communications Group, From Authors Notes, p.312345678910