Cattell and Eysenck

Usually when we talk about someone's personality, we are talking about what makes that person different from other people, perhaps even unique. â€Å"The Cattell and Eysenck constructs and theories should be seen, not as mutually contradictory, but as complementary and mutually supportive. † The Late Hans Eysenck (1984). Cattell and the theory of Personality. Mult. Behav. Res, 19, 323-336. This eight page report discusses the work and models created by Hans Eysenck (1916-1997) and Raymond Cattell (1905-1998). Each developed specific theories regarding human personality. Eysenck’s is best expressed in the Eysenck Personality Inventory (EPI) while Cattell’s 16PF or Sixteen Personality Factor Questionnaire serves as the best representation of his work on personality. Raymond Bernard Cattell (20 March 1905 – 2 February 1998) was a British and American psychologist known for his exploration of a wide variety of substantive areas in psychology. These areas included: the basic dimensions of personality and temperament, a range of cognitive abilities, the dynamic dimensions of motivation and emotion, the clinical dimensions of personality, patterns of group and social behavior, applications of personality research to psychotherapy and learning theory, predictors of creativity and achievement, and many scientific research methods for exploring and measuring these areas. Cattell was famously productive throughout his 92 years, authoring and co-authoring over 50 books and 500 articles, and over 30 standardized tests. According to a widely-cited ranking, he was the 16th most influential and eminent psychologist of the 20th century. Cattell and Eysenck 3 Raymond Cattell and Hans Eyseneck, so prominent were these two men, that their work is now enshrined in the Cattellian and Eysenckian Schools of Psychology, respectively. Cattell's scholarly training began at an early age when he was awarded admission to King's College at Cambridge University where he graduated with a Bachelor of Science in Chemistry in 1926 (Lamb, 1997). According to personal accounts, Cattell's socialist attitudes, paired with interests developed after attending a Cyril Burt lecture in the same year, turned his attention to the study of psychology, still regarded as a philosophy (Horn, 2001). Following the completion of his doctorate studies of psychology in 1929 Cattell lectured at the University at Exeter where, in 1930, he made his first contribution to the science of psychology with the Cattell Intelligence Tests (scales 1, 2, and 3). During fellowship studies in 1932, he turned his attention to the measurement of personality focusing of the understanding of economic, social and moral problems and how objective psychological research on moral decision could aid such problems (Lamb, 1997). Cattell's most renowned contribution to the science of psychology also pertains to the study of personality. Cattell's 16 Personality Factor Model aims to construct a common taxonomy of traits using a lexical approach to narrow natural language to standard applicable personality adjectives. Though his theory has never been replicated, his contributions to factor analysis have been exceedingly valuable to the study of psychology. In order to apply factor analysis to personality, Cattell believed it necessary to sample the widest possible range of variables. He specified three kinds of data for comprehensive sampling, to capture the full range of personality dimensions: Cattell and Eysenck 4 Objective, life data (or L-data), which involves collecting data from the individual’s natural, everyday life behaviors, measuring their characteristic behavior patterns in the real world. This could range from number of traffic accidents or number of parties attended each month, to grade point average in school or number of illnesses or divorces. Experimental data (or T-data) which involves reactions to standardized experimental situations created in a lab where a subject’s behavior can be objectively observed and measured. Questionnaire data (or Q-data), which involves responses based on introspection by the individual about their own behavior and feelings. He found that this kind of direct questioning often measured subtle internal states and viewpoints that might be hard to see or measure in external behavior. In order for a personality dimension to be called â€Å"fundamental and unitary,† Cattell believed that it needed to be found in factor analyses of data from all three of these domains. Thus, Cattell constructed personality measures of a wide range of traits in each medium. He then repeatedly performed factor analyses on the data. With the help of many colleagues, Cattell's factor-analytic studies continued over several decades, eventually producing 16 fundamental factors underlying human personality. He decided to name these traits with letters (A, B, C, D, E†¦), like vitamins, in order to avoid misnaming these newly discovered dimensions, or inviting confusion with existing vocabulary and concepts. Factor-analytic studies by many researchers in diverse cultures around the world have re-validated the number and meaning of these Cattell and Eysenck 5 traits. This international confirmation and validation established Cattell’s 16 factors as objective and scientific. Cattell set about developing tests to measure these traits across different age ranges, such as The 16 Personality Factor Questionnaire for adults, the Adolescent Personality Questionnaire, and the Children’s Personality Questionnaire. These tests have now been translated into many languages and validated across different cultures. Hans Eysenck was born in Germany on March 4, 1916. His parents were actors who divorced when he was only two, and so Hans was raised by his grandmother. He left there when he was 18 years old, when the Nazis came to power. As an active Jewish sympathizer, his life was in danger. In England, he continued his education, and received his Ph. D. in Psychology from the University of London in 1940. During World War II, he served as a psychologist at an emergency hospital, where he did research on the reliability of psychiatric diagnoses. The results led him to a life-long antagonism to main-stream clinical psychology. After the war, he taught at the University of London, as well as serving as the director of the psychology department of the Institute of Psychiatry, associated with Bethlehem Royal Hospital. He has written 75 books and some 700 articles, making him one of the most prolific writers in psychology. Eysenck retired in 1983 and continued to write until his death on September 4, 1997. This aspect of personality is called individual differences. For some theories, it is the central issue. These theories often spend considerable attention on things like types and traits and tests with which we can categorize or compare people: Some people are neurotic, others are not; some people are more introverted, others more extroverted; and Cattell and Eysenck 6 so on. However, personality theorists are just as interested in the commonalities among people. What, for example, do the neurotic person and the healthy person have in common? Or what is the common structure in people that expresses itself as introversion in some and extroversion in others? If you place people on some dimension – such as healthy-neurotic or introversion-extroversion – you are saying that the dimension is something everyone can be placed on. Whether they are neurotic or not, all people have a capacity for health and ill-health; and whether introverted or extroverted, all are â€Å"verted† one way or the other. Another way of saying this is that personality theorists are interested in the structure of the individual, the psychological structure in particular. How are people â€Å"put together;† how do they â€Å"work;† how do they â€Å"fall apart. † Some theorists go a step further and say they are looking for the essence of being a person. Or they say they are looking for what it means to be an individual human being. The field of personality psychology stretches from a fairly simple empirical search for differences between people to a rather philosophical search for the meaning of life! Perhaps it is just pride, but personality psychologists like to think of their field as a sort of umbrella for all the rest of psychology. Critics of the psychology of individual differences have often claimed naively that the use of factor analysis in test construction has â€Å"only lead to confusion–since Eysenck found three factors, while Cattell found 16 factors† within the personality domain. Yet these ill-informed critics failed to understand that Eysenck and Cattell were talking about personality measurement at different levels within the hierarchical trait model. Cattell and Eysenck 7 Ray concentrated on primary factors, while Hans focused on broader secondary dimensions. Indeed, at the second-order 16PF level, the degree of communality between the Eysenckian and Cattellian factors was striking! It might be nice to start off with a definition of theories of personality. First, theory: a theory is a model of reality that helps us to understand, explain, predict, and control that reality. In the study of personality, these models are usually verbal. Every now and then, someone comes up with a graphic model, with symbolic illustrations, or a mathematical model, or even a computer model. But words are the basic form. Different approaches focus on different aspects of theory. Eysenck’s theory is based primarily on physiology and genetics. Although he is a behaviorist who considers learned habits of great importance, he considers personality differences as growing out of our genetic inheritance. He is, therefore, primarily interested in what is usually called temperament. Eysenck is also primarily a research psychologist. His methods involve a statistical technique called factor analysis. This technique extracts a number of â€Å"dimensions† from large masses of data. For example, if you give long lists of adjectives to a large number of people for them to rate themselves on, you have prime raw material for factor analysis. Imagine, for example, a test that included words like â€Å"shy,† â€Å"introverted,† â€Å"outgoing,† â€Å"wild,† and so on. Obviously, shy people are likely to rate themselves high on the first two words, and low on the second two. Outgoing people are likely to do the reverse. Factor analysis extracts dimensions – factors – such as shy outgoing from the mass of information. The Cattell and Eysenck 8 researcher then examines the data and gives the factor a name such as â€Å"introversion-extraversion. † There are other techniques that will find the â€Å"best fit† of the data to various possible dimensions, and others still that will find â€Å"higher level† dimensions – factors that organize the factors, like big headings organize little headings. Eysenck's original research found two main dimensions of temperament: neuroticism and extraversion introversion. Neuroticism is the name Eysenck gave to a dimension that ranges from normal, fairly calm and collected people to one’s that tend to be quite â€Å"nervous. † His research showed that these nervous people tended to suffer more frequently from a variety of â€Å"nervous disorders† we call neuroses, hence the name of the dimension. But understand that he was not saying that people who score high on the neuroticism scale are necessarily neurotics – only that they are more susceptible to neurotic problems. His second dimension is extraversion-introversion. By this he means something very similar to what Jung meant by the same terms, and something very similar to our common-sense understanding of them: Shy, quiet people â€Å"versus† out-going, even loud people. This dimension, too, is found in everyone, but the physiological explanation is a bit more complex. Eysenck hypothesized that extraversion-introversion is a matter of the balance of â€Å"inhibition† and â€Å"excitation† in the brain itself. These are ideas that Pavlov came up with to explain some of the differences he found in the reactions of his various dogs to stress. Excitation is the brain waking itself up, getting into an alert, learning state. Inhibition is the brain calming itself down, either in the usual sense of relaxing and going to sleep, or in the sense of protecting itself in the case of overwhelming stimulation. Cattell and Eysenck 9 To bring to a close, although Cattell contributed much to personality research through the use of factor analysis his theory is greatly criticized. The most apparent criticism of Cattell's 16 Personality Factor Model is the fact that despite many attempts his theory has never been entirely replicated. In 1971, Howarth and Brown's factor analysis of the 16 Personality Factor Model found 10 factors that failed to relate to items present in the model. Howarth and Brown concluded, â€Å"that the 16 PF does not measure the factors which it purports to measure at a primary level (Eysenck & Eysenck, 1987) Studies conducted by Sell et al. (1970) and by Eysenck and Eysenck (1969) also failed to verify the 16 Personality Factor Model's primary level (Noller, Law, Comrey, 1987). Also, the reliability of Cattell's self-report data has also been questioned by researchers (Schuerger, Zarrella, & Hotz, 1989). Cattell and colleagues responded to the critics by maintaining the stance that the reason the studies were not successful at replicating the primary structure of the 16 Personality Factor model was because the studies were not conducted according to Cattell's methodology. However, using Cattell's exact methodology, Kline and Barrett (1983), only were able to verify four of sixteen primary factors (Noller, Law & Comrey, 1987). In response to Eysenck's criticism, Cattell, himself, published the results of his own factor analysis of the 16 Personality Factor Model, which also failed to verify the hypothesized primary factors (Eysenck, 1987). Despite all the criticism of Cattell's hypothesis, his empirical findings lead the way for investigation and later discovery of the ‘Big Five' dimensions of personality. Fiske (1949) and Tupes and Christal (1961) simplified Cattell's variables to five recurrent Cattell and Eysenck 10 factors known as extraversion or surgency, agreeableness, consciousness, motional stability and intellect or openness (Pervin & John, 1999). Cattell's Sixteen Personality Factor Model has been greatly criticized by many researchers, mainly because of the inability of replication. More than likely, during Cattell's factor analysis errors in computation occurred resulting in skewed data, thus the inability to replicate. Since, computer programs for factor analysis did not exist during Ca ttell's time and calculations were done by hand it is not surprising that some errors occurred. However, through investigation into to the validity of Cattell's model researchers did discover the Big Five Factors, which have been monumental in understanding personality, as we know it today. In summary, Humanists and Existentialists tend to focus on the understanding part. They believe that much of what we are is way too complex and embedded in history and culture to â€Å"predict and control. † Besides, they suggest, redacting and controlling people is, to a considerable extent, unethical. Behaviorists and Freudians, on the other hand, prefer to discuss prediction and control. If an idea is useful, if it works, go with it! Understanding, to them, is secondary. Another definition says that a theory is a guide to action: We figure that the future will be something like the past. We figure that certain sequences and patterns of events that have occurred frequently before are likely to occur again. So we look to the first events of a sequence, or the most vivid parts of a pattern, to serve as our landmarks and warning signals. A theory is a little like a map: It isn't the same as the countryside it describes; it certainly doesn't give you every detail; it may not even be terribly accurate. But it does provide a guide to action.

Ben nighthorse campbell

Different people would have known him differently; some would remember him as who he was before he became popular in the eyes of the public: a farmer and a police officer, even a jeweller or a world class judo fighter . But for the greater majority, particularly his constituents, Ben Nighthorse Campbell was a public servant who gave a lot to the public through the things that he did during his several years of tenure while serving in public office from the congress to the senate and every minor office in between that goes with the elected position.Several important individuals in different fields shower Senator Campbell with very complimenting words – referring to him as someone who is â€Å"dedicated†, as someone who is considered as an â€Å"accomplished public servant† . History believed he was a political leader who possessed charm, someone who is sincere and has a strong set of leadership qualities . One other description of him is that he is a fighter then and now. His background in the military, in judo and even in the streets when he was young, was a testament to that. In politics, he never changed his attitude.He was described as a straight-shooter , while other critics view him as someone who is shooting from the hips . Because of the significance of senator Campbell, the purpose of this paper is to discuss Senator Campbell’s life, with focus on his career as a senator and as a congressman and mentioning also his roles in the military, in the American judo history, notes on his personal life before and during his political life and his role in the National Law Enforcement Officers Memorial and Museum, National Museum of the American Indian and in the Senate Committee on Indian Affairs.II. Campbell’s Life Born on April 13, 1933, Senator Ben Nighthorse Campbell is one of the few politicians of note who rose in the political circles carrying proudly his Indian ancestry. â€Å"He is proud of his Native American heritage . † His sense of pride and loyalty to his roots and to his culture was seen through his actions as well as through his clothing; it was as if he was wearing his culture, identity and heritage. For example, he was seen wearing â€Å"ceremonial tribal clothing† as he attended the opening of the National Museum of American Indian (NMAI) .It was considered as a â€Å"major aspect† that has created, established and sustained the overall â€Å"persona† that is Senator Campbell all throughout his life, especially during his political life . Campbell’s personality of hinging so much of who he is as he presents himself to the public on his being a Native American Indian was just enough for people to forget that there were actually men who preceded Campbell who, just like him, were partly Native American Indian and also won elected public office.One of them served in an office even higher than Campbell’s – and that would be Charles Curtis, who w ould eventually become the first vice president of the United States who is a Native American Indian. â€Å"The highest elected office ever held by an Indian in the US was the vice presidency . † Unlike Campbell, Curtis was from the Kaw tribe hailing from Kansas. In his vein was quarter of blood from this tribe. Also, he was an attorney before getting elected, unlike the more blue-collar type of jobs that Campbell pursued early in his life before shifting to jewellery designing and production later on.Nonetheless, both elected men are good and honorable men who made the Native American Indian community proud. But even with men like Curtis and how they were ‘bigger’ men politically, the Indians appreciate Campbell’s efforts at staying with his packaging as the American Indian holding office at the senate and at the congress. This personality/attitude more than compensates for the fact that he was not the first of his kind. â€Å"Although not the first Nati ve American senator, he is the first to make a statement with his Indianness. † Indeed, he, too, was a record maker of sorts, and in many ways.This is what the paper will explore throughout the discussion on the different aspects of personal and political life of Senator Campbell, who, in November 3, 1992 made a historic feat by becoming the first American politician with Native American roots to be elected as a senator. It was something that hasn't happened in more than the six decades that has passed in the senate history prior to his election to the office. Prior to that, he became the sixth politician with Native American heritage and ancestry to be ever elected to the congress, a seat that was given to him through the votes of the public for three times .Senator Campbell's Indian heritage is no secret. In fact, it seems that it is one of his many major personal characteristics that the media, as well as his colleagues, often refer to or address, particularly his being Ind ian, and his respectful stature in the Indian community, like being a Northern Cheyenne Tribe chief, a position he and only 43 others possess . Because of Campbell’s pride towards his heritage, his people in return are doing ways to let Campbell know that his act of holding on to his Native American Indian roots and not covering it up with modern day personality just to suit his high echelon colleagues and.So that he will suit their taste for a particular company, his native Cheyenne are going out on a limb just to celebrate the victory of one of their most accomplished sons. For example, many Cheyenne individuals joined the parade. Some of them spent as much as they can spare just to lavish Campbell and the parade with the decorations fitting to the act of congratulations coming from the Cheyenne tribe. Some actually spent more than they could spare just so they can claim Campbell as their own and they can show how proud they are of Campbell.â€Å"Six of the riders were Nor thern Cheyenne, who had bankrupted themselves to show the world that Campbell was one of their own . † Despite his Indian American / Native American Indian roots, Campbell was a Catholic from the time his mother, also a devoted catholic, had him baptized when he was still a baby by bringing him and his sister Alberta to a church to be baptized just close to the time Campbell was born, until the time when he seemed to have had a falling out with the Catholic faith.But Campbell, during his adult life and especially during his tenure as public office politician, drifted from religion, and proof of this is the item â€Å"unspecified† marked on the space allotted for the identification of religious affiliation of the individual. This distinction, again, made Senator Campbell someone who is different from the rest of the field in the 106th Congress. He was the only one whose religious affiliation was unspecified, although there were no clear explanation(s) why such was the ca se – it could be anyone's guess, from clerical error, mistake, or other reasons .His sudden dissociation with the Catholic faith was a surprising turn of events for Campbell. There are many good things that the Catholic faith has done for Campbell, especially during his youth. For example, there is the role of the faith during the times they were sent to the orphanage by their parents because they cannot take care of him and his sister because of their mother's sickness and their father's alcoholism and inability to financially support them.While the Catholic faith and the orphanage system had their share of bad reputation, history points how the Catholic experience was a relatively good one for Campbell. In retrospect, Campbell recalled how the nuns and priests, who took care of him when his parents were unable to take care of him, treated him well. In his recollection of his days with these priests and nuns, as he narrated it for his biography published in book form, he men tioned just several instances wherein he was punished like being sent inside a pig pen to be with a huge pig.

Building Acts and Contracts

TUNKU ABDUL RAHMAN COLLEGE SCHOOL OF TECHNOLOGY DIPLOMA IN TECHNOLOGY (QUANTITY SURVEYING) YEAR 2 ACADEMIC YEAR 2012/2013 ATGB3663 BUILDING ACTS AND CONTRACTS PROGRAMME : DQS2 GROUP : A LECTURER/ TUTOR : MR IVAN KWAY EU WAN Team Member| Student ID| Alaster Ang Han Wun| 11wtd01029| Chan Siang Leen| 11wtd04062| Chan Sze Haw| 11wtd05409| Chan Yew Jia| 11wtd01905| Chong Hong Seng| 11wtd05935| Table of Contents A) Clause 39 (1), (3), (4)3 B) Clause 42. 17 C) Clause 43 (a), (b), (c), (d)11 D) Clause 106 (1)16 E) Clause 107(1), (2), (3) and (4)16F) Explain the UBBL : part IV temporary works in connection with building operations22 References24 A) Clause 39 (1), (3), (4) Clause 39(1) * â€Å"Every room designed, adapted or used for residential, business or other purposes except hospitals and schools shall be provided with natural lighting and natural ventilation by means of one or more windows having a total area of not less than 10% of clear floor area of such room and shall have openings capable of allowing a free uninterrupted passage of air of not less than 5% of such floor area. * Date : November 28, 2012 * Location: Residential house at Taman Bunga Raya. * Site photos: * Discussion: – The room must be provided with natural lighting and ventilation with the area of window must be more than 10% of the floor area and the openings must not less than 5% of the floor area. – For this room, the floor area = 2. 62m x 3. 52m = 9. 22 m2 The window area = 1. 78m x 1. 195m = 2. 13 m2 Natural lighting = (2. 13 m2 / 9. 22m2) x 100% = 23. 1 % 23. 1 % > 10% (comply with UBBL) Natural ventilation = 23. 1% > 5% (comply with UBBL) Hence this room in Taman Bunga Raya is complying with Uniform Building By Law. Clause 39(3) * † Every room used for purpose of conducting classes in a school shall be provided with natural lighting and natural ventilation by means of one or more windows having a total area of not less than 20% of clear floor area of such rooms and sha ll have openings capable of allowing a free uninterrupted passage of air of not less than 10% of such floor area. † * Date: November 26, 2012 * Location: TARC Block M305 * Site photos: * Discussion: The classroom must be provided with natural lighting and ventilation with the area of window must be more than 20% of the floor area and the openings must not less than 10% of the floor area. * For this classroom, the floor area = 9. 08m x 7. 465m = 67. 78m2 The window area = 1. 785m x 1. 45m = 2. 59m2 6 windows = 6 x 2. 59m2 = 15. 54m2 Natural lighting = (15. 54m2/ 67. 78m2) x 100% = 22. 93% 22. 93% > 20% (comply with UBBL) Natural ventilation = 22. 93% > 10% (comply with UBBL) * So this classroom is complying with UBBL. Clause 39(4) â€Å"Every water- closet, latrine, urinal or bathroom shall be provided with natural lighting and natural ventilation by means of one or more openings having a total area of not less than 0. 2 square meters per water-closet, urinal latrine or bathro om and such openings shall be capable of allowing a free uninterrupted passage of air. † * Date: November 26, 2012 * Location: Toilet at residential house of Taman Bunga Raya. * Site photos: * Discussion: * There are one water-closet and one bathroom inside. * 2 x 0. 2 = 0. 4 * Area of window = 0. 625m x 0. 635m = 0. 40m2 Since the opening has a total area of 0. 40m2 which is equal, hence it complies with the UBBL. B) Clause 42. 1 * The area of first habitable room in a residential building shall be not less than 11 square meters, * Date : 30/11/12 * Location : Residential house at Kepong Baru * Site photos: * Discussion: -the area of room shall be not less than 11 square meters For this room, the area is = 10m x 13m =130m2 130m2 > 11m2 (comply with UBBL) -Hence this room area is comply with Uniform Building By Law * The area of second habitable room in a residential building shall be not less than 9. square meters, * Date : 30/11/12 * Location : Residential house at Kepong Ba ru * Site photo : * Discussion : -The area of room must be more than 9. 3 square meters; -Area of this room is 3. 5m2x 4m2 =14m2 14m2 > 9. 3m2 (Comply with UBBL) -Hence the second room area is comply with Uniform Building By Law * All the other rooms shall be not less than 6. 5 square meters in area * Date : 30/11/12 * Location : Residential house at Kepong Baru * Site photo : * Discussion : -The room area must be more than 6. 5 square meters -Area of the room is 2. 75m2 x 3. m2 = 8. 525m2 8. 525m2 > 6. 5m2 (Comply with UBBL) -The area of room is more than 6. 5m2 so it is comply with Uniform Building By Law Clause 42. 2 The width of every habitable room in a residential building shall be not less than 2 meters * The width of every room in a residential building must be more than 2 meters * Date : 30/11/12 * Location : Residential house at Kepong Baru * Site photo : * Discussion : -Refer to the photo above the width of room is 2. 75m -2. 75m > 2m (Comply with UBBL) -Hence this room i s comply with Uniform Building By Law Clause 42. 3The area and width of a kitchen in a residential building shall be not less than 4. 5 square meters and 1. 5 meters respectively * Area of a kitchen must be more than 4. 5 square meters and width must be more than 1. 5 meters * Date : 30/11/12 * Location : Residential house at Kepong Baru * Site photo : * Discussion : -The area of a kitchen is 7. 28m2 and width of kitchen is 2. 8m2 -Area 7. 28m2> 4. 5m2 (Comply with UBBL) -Width 2. 8m2> 1. 5m2 (Comply with UBBL) -Hence the area and width of kitchen is comply with Uniform Building By Law C) Clause 43 (a), (b), (c), (d)Clause 43 (a) * â€Å"†¦in the case of latrines or water-closets with pedestal-type close fittings, not less than 1. 5 metres by 0. 75 metre. † * Date: November 28, 2012 * Location: TARC Hostel Block J * Site photo: * Discussion: * Dimension of water closet : 1. 53m by 0. 85m * 1. 53m > 1. 5m and 0. 85m > 0. 75m, hence it complies with UBBL. Clause 43(b) * â €Å"†¦ in the case of water-closets with fittings other than pedestal-type close fittings, not less than 1. 25 metres by 0. 75 metre. † * Date: November 28, 2012 * Location: TARC Hostel Block J * Site photo: * Discussion: Dimension of water-closet: 1. 53m by 0. 85m * 1. 53m > 1. 25m and 0. 85m > 0. 75m, it complies with UBBL. Clause 43(c) * â€Å"†¦in the case of bathrooms, not less than 1. 5 square metres with a width of not less than 0. 75 metre. † * Date: November 28, 2012 * Location: TARC Hostel Block J * Site photo: * Discussion: * Area of bathroom = 1. 37m x 0. 86m = 1. 18m2 1. 18m2< 1. 5m2 (not comply with UBBL) Width = 0. 86m > 0. 75m (comply with UBBL) * Although the width of the bathroom in TARC Hostel is 0. 86m which comply with UBBL, but the area of the bathroom is too small which is 1. 8m2 and it did not meet the minimum requirement stated in UBBL which is 1. 5m2. Hence, this bathroom is not complying with UBBL. * Recommendation – we can i ncrease the area of the bathroom by increasing the length of the bathroom to at least 1. 75m. Clause 43(d) * â€Å"†¦in the case the bathrooms with close fittings, not less than 2 square metres with a width of not less than 0. 75 metre. † * Date: November 28, 2012 * Location: Bathroom in residential house at Taman Bunga Raya. * Site photo: * Discussion * Area of the bathroom = 1. 5m x 1. 5m =2. 25m2 2. 25m2> 2m2 (comply with UBBL)Width = 1. 5m > 0. 75m (comply with UBBL) * Since the area of the bathroom is bigger than 2m2 and the width is more than 0. 75m, they all met the minimum dimensions required by UBBL. Hence, the bathroom with closet fittings in Taman Bunga Raya complies with UBBL. D) Clause 106 (1) 106(1)-In any staircase, the rise of any staircase shall be not more than 180mm and the tread shall not less than 255mm and the dimensions of the rise and the tread of the staircase so chosen shall be uniform and consistent throughout. * Date: November 28, 2012 * Locat ion: TARC Bangunan Tan Siew Sin * Site photo: Discussion: * Dimension of staircases: 312mm x 133mm * 180mm > 133mm and 312mm > 255, it complies with UBBL. E) Clause 107(1), (2), (3) and (4) 107(1)-Except for staircase of less than 4 risers, all staircases shall be provided with at least one handrail. * Date: November 28, 2012 * Location: TARC Block A * Site photo: * Discussion: 4 risers< /= 4 risers, so no need handrail and it complies with UBBL. 107(2)-Staircases exceeding 2225mm in width shall be provided with intermediate handrail for each 2225mm of required width spaced approximately. * Date: November 28, 2012 Location: TARC Bangunan Tan Siew Sin * Site photo: * Discussion: * Dimension of staircases: 5420mm * 5420mm > 2225mm, it complies with UBBL. Clause 107(3)-In building other than residential buildings, a handrail shall be provided on each side of the staircase when the width of the staircase is 1100 mm or more. In these clause state that all the buildings except residential building, if the width of the staircase is equal or more than 1100mm, which is 1. 1m, handrail should be provided on each side of the staircase. * Date : 28th November 2012 * Venue : Staircase beside DK A, TAR College Site Photo: * Discussion : Width of staircase = 2. 53m, 2530mm – 2530mm > 1100mm (stated in UBBL) so this staircase needed handrail on both sides. – This staircase is installed with both sides handrail, hence this staircase is comply with UBBL. Clause 107(4)-All handrails shall project not more than 100mmfrom the face of the finished wall†¦(†¦) This is the first part of Clause 107. (4) in UBBL, which means that if there is a handrail attached to the wall, the handrail should be projected out from the wall with a length of not more than 100 mm * Date : 28th November 2012 Venue : TAR College Cyber Centre * Site Photo : * Discussion : Total length projected out = 9. 3cm, 93mm – 93mm 840mm >825mm (stated in UBBL) -Since the height of handrai l is in the range of 825mm to 900mm, so it is comply with the UBBL. Clause 107 (4)-(†¦)†¦provided that handrails to landings shall not be less than 900mm from the level of the landing. This is the last part of Clause 107. (4) in UBBL. From this sentence show that the handrail at landing area should have the height of not less than 900mm measured from the landing. * Date : 28 November 2012 * Venue : TAR College Cyber Centre * Site Photo : Discussion : Height of handrail= 86. 5cm,865mm -865mm

Understanding strategic management Essay Example | Topics and Well Written Essays - 2250 words - 1

Understanding strategic management - Essay Example Decision makers and managers must apply their strategic skills in the process of managing an organisation. Increasing competition and changing nature of demand are the two prime reasons behind the increasing demand of strategic management process in the contemporary world. This paper will attempt to assess a company by using strategic management tools and models. The models and tools will be used for two proposes i.e. for environmental scanning and for strategy formulation. Environmental scanning will include internal and external analysis. The next section will show the company’s strategic position in the market. Based on the analysis and findings, relevant strategies will be recommended. Tesco Plc has been selected for the purpose of strategic management analysis. Tesco is a UK based company and is operating in the global retail industry. However, in this paper, the primary focus will be on the UK retail industry. Tesco Plc is a UK based leading retailer. The company was founded by Jack Cohen in 1919. The company was first listed in London Stock Exchange in 1947 and it launched its corporate website (Tesco.com) in 2000 (Tesco Plc-a, 2010). The company offers a wide range of product and retailing service through its numerous superstores. Tesco offers homes products, fast moving consumer products, clothing, consumer durable, electronics etc (Tesco-a, 2010). The latest annual report of Tesco disclosed that it owns 4810 stores in the global market and nearly 472000 employees are working with Tesco (Tesco Plc-b, 2010). It experienced very fast growth and after its global expansion, the company became the third largest retailer in the world after Wal-Mart and Carrefour. The company has developed its reputed brand image in the market. Specially, in UK, the company has gained a large share of the market (Silverthorne, 2010). Tesco has developed an effective and efficient strategic management procedure in

Contract Law, The Law of Personal Property Essay

Contract Law, The Law of Personal Property - Essay Example exemption clauses. According to the provisions of this act there are three broad divisions of control: first, is the control over contract terms that exclude or restrict liability for 'negligence', secondly, control over contract terms that exclude or restrict liability for breach of certain terms implied by statute or by common law in contracts of sale of goods, hire-purchase etc. Thirdly, a more general control in consumer contracts and standard form contracts over terms that exclude or restrict liability for breach of contract, or which purport to entitle one of the parties to render a contractual performance different from that expected or to render no performance at all. If the term of the contract comes within the purview of this act then the control regime will take its form in either of the two ways i.e. the restriction or exclusion of liability may be rendered absolutely ineffective or it may be effective only in so far as the term of the contract satisfies the test of reasonableness. ... It can be said that subject to certain exceptions, the Unfair Contract Terms Act,1977 only applies to contract terms 'excluding or restricting' specific types of liability; but they are extended to include terms such as : (a) making the liability or its enforcement subject to restrictive or onerous conditions;(b) excluding or restricting any right or remedy in respect of liability, or subjecting a person to any prejudice in consequence of his pursuing any such right or remedy, (c) excluding or restricting rules of evidence or procedure. The practical difficulty, however, is to distinguish such terms from provisions that prevent a contractual duty from arising or circumscribe its extent, or which merely allocate the responsibilities under the contract between the parties(5) The Courts should determine whether a term in a contract 'excludes or restricts' liability by asking whether it deprives a contracting party of the contractual performance which the parties reasonably expected(6). The Unfair Contract Terms Act,1977 for most part exclude or restrict 'business liability'. It means liability for breach of obligations or duties arising - (a) from things done or to be done by a person in the course of a business.; (b) from the occupation of premises used for business purposes of the occupier. As a general rule, greater protection is afforded by the act to a person who deals as consumer than to one who does not. In order that a party should have dealt as consumer, two conditions must have to be satisfied. First, the party must not have made the contract in the course of a business or held himself or herself out as doing so. Secondly, the other party must have made the contract in the course of a business. 'R.&B

Respond to each question with 100 words or more Assignment

Respond to each question with 100 words or more - Assignment Example The same also applies to someone who joins groups to cause havoc or disunity in a society. Therefore, a person has a right to intervene if somebody does immoral things along these lines and many other instances. Ethics is like nutrition. General nutritional information forms part of people’s everyday stock of knowledge. For example, people do not have to consult a physician to discover that the ice cream cone is not as healthful as fresh garden salad. They already know that ice cream is less nutritious. Similarly, they know that it is morally wrong to torture a baby. Still, both fields have specialists that dedicate their entire life attempting to provide and refine a solid base for the daily beliefs that people already know. Sometimes, nutritionists come across surprising things like the benefits of fish oil. Sometimes they discover harmful nutritional practices. At other times, they just confirm what people already know, although they do this in a manner that lends more solid foundation to the beliefs. A similar pattern exists in the relationship between what professional ethicists do and people’s daily moral convictions (Hinman 1). Ethical professionals would sometimes disc over an ethical belief that seems to be dangerous. They may also discover a moral practice that is beneficial to people. At other times, they report a belief that people already know in their everyday lives and build more foundation for the belief. An ethical egoist is a person that always wants to act in his/her self-interest. The person follows ethical egoism theory, a consequentialist theory that purports to tell people to live according to their self-interest. The ethical egoist believes that the rightness or wrongness of their acts relies on their consequences. They hold on to the belief that right actions encourage self-interest while wrong acts detract from self-interests. I would not be friends with ethical egoists. Ethical egoism does not promote good morals,

Child develpoment Essay Example | Topics and Well Written Essays - 750 words

Child develpoment - Essay Example In this context, child development is, therefore, not so much about teaching voluminous chunks of knowledge during the formative years or the so-called foundational stage. Rather, child development is about the methodical approach or the â€Å"how† in which such knowledge is taught to very young children to guide them through their natural and inherent development. This paper discusses four of the primary theories of child development as building blocks of developmentally appropriate knowledge based on the exposition of Swim (2008) in one of this week’s readings. Biological maturation theory This theory was proposed mainly by Gesell during the 1940s to describe a systematic manifestation of the physical and psychological development generally expected among children from the perspective that all children experience the same phases of development grounded on the natural maturation of their brain and body. The theory disregards influences from culture or individual differ ences (Levine and Munsch, 2011). As a child educator / paraprofessional, I do find enough utility in this theory because I observed that it places more weight on maturation rather than on learning. This observation was corroborated by Danielson (2007) whose main criticism of the biological maturation theory was that there is â€Å"too much emphasis on maturation and not enough on learning† (para. 41) Behaviorist theory The behaviorist theory focuses on what may be directly observed in the absence of a precise method of knowing what happens in an individual’s mind. Butts and Rich (2011) outlined that stimulus conditions both in the environment and the person’s behavior, as well as responses to such conditions are the only variables which can be observed in any learning situation. Additionally, Swim (2008) reported that this theory molds learning with the provision of rewards and punishment. Unlike the biological maturation theory, there are apparent uses of the b ehaviorist theory in teaching young children. It may be recalled that behaviorism supports the position â€Å"what is learned can be unlearned by modifying stimulus conditions in the environment or changing the response to stimuli† (Butts & Rich, 2011, p. 206). This area of behaviorism will be very helpful in teaching young children in breaking bad habits developed during their earlier years. However, I do not believe that banking on behaviorism alone will significantly facilitate the development of appropriate practice in child development. From experience, the behaviorist system of rewards and punishment does not leave any room for abstract thinking since it is categorized under the passive mode. Consequently, even if recent development in this area now classifies behaviorism in education as a reactive approach as indicated in Duczeminski (2009), learning still tends to be forced-fed to children rather than the children being given leeway to understand knowledge by the expl anations they retrieve from their interaction with the environment or from their own observation. My opinion is that proactive is best for children in the knowledge society. Cognitive development theory Under this model of child development, learning is centered on â€Å"perceptions, thinking, reasoning, memory, development changes, and processing of information that transpires within the learner† (as cited in Butts & Rich, 2011, p. 213). Swim (2008) describes this learning approach as one in which

The Legal Liability of Air Traffic Controllers Essay

The Legal Liability of Air Traffic Controllers - Essay Example To determine this, they used black box information, traffic cams, computer simulations and the voice of the pilot himself, who died in the crash attributed the accident to such diverse causes and engine failure, flaws in composite materials and terrorism.[2] After 3 years of investigation the NTSB attributed the catastrophe to structural damage caused or exacerbated by wake turbulence with black box information and the voice of the pilot himself, who died in the crash, confirming this. The first statement made on the cockpit voice recorder ,disclosed by the FTSB, was a reference by the pilot to the distance between him and the plane in front of him, a Japan Airlines Boeing747 which had taken off less than 2 minutes before him, responding to the air traffic controllers concerns about wake turbulence. Lift is generated by a difference of pressure over the surface of the wing. The lower pressure happens above the wing surface while the higher pressure is underneath. This differential causes the air to roll off the wings and trail down from the tips, forming two vortices like tornadoes, rotating out in different directions. Like the wake of a ship, two vessels that pass each other have observable wave action. Boats do it, and so do planes. When one plane passes too closely to another it encounters the wake of air waves. You can't see it, but you feel it. A plane with a lesser wing span looses it mirrored directions, like the wake of a ship. Two vessels that pass each other have observable wave action. Boats do it, and so do planes. When one plane passes too closely to another it encounters the wake of air waves. You can't see it, but you feel it. A plane with a lesser wing span loses its righting moment. Displaced air has some semblance of predictable movement, however; like water, that motion is highly fluid, being influenced by many factors. Such turbulence compromises the ability of pilots to control aircraft, navigators to direct it and the safety of passengers in planes. The range of an airborne wake from a large plane is less than 5 miles.[4] The pilot acknowledged the concern of the ATCO on the radio. It states in the Federal Aviation Regulations Sec. 91.3a - Responsibility and authority of the pilot in command. "The pilot in command of an aircraft is directly responsible for, and is the final authority as to, the operation of that aircraft." According to the pilot's CVR statement there was going be a lot of time between him and that Boeing 747 out in front. He wasn't doing anything wrong. He was just a little closer to the scheduled time of departure. In the immediate post 9/11 context, with altered airport security procedures, this was relevant. The full text of the CVR was not published judgment there was going be a lot of time between him and that Boeing 747 out in front. He wasn't doing anything wrong. He was just a little closer to the scheduled time of departure. Two minutes later he was dead. While specific aircraft regulations can hold blameless the owners of aircraft, (see49 USC 44112 (formerly 49 USC 1404)), the law of torts still allows for the suit of companies on the basis of negligence. AFCO's are responsible for the safe routing of planes within their district during their scheduled assignments, they are not responsible for t

Text exercises week 4 Essay Example | Topics and Well Written Essays - 1500 words

Text exercises week 4 - Essay Example The balance sheet of Technical Inc. for the year ended 31st December 2006 indicates the overall position of the company at that specific time. The statement provides a summary of the assets and liabilities and the long term debts. The shareholder’s equity and retained earnings are also included in the statement. The balance sheet provides a clear view on what the company owns and what it owes, in other words, the value of the company is depicted in the balance sheet. It also includes the details of the investments made by the investors and shareholders. The sum of all the liabilities and the shareholders’ equity always needs to be equal to assets. This statement provides the retained earnings for a specific period of time. The statement of Technical Inc shows that the company has total retained earnings of almost $73,100 as of 31st December 2006. The statement outlines the changes in the retained earnings for specific periods. These are generally prepared in accordance to the General Accepted Accounting Principles. The statement of retained earnings can be reconciled with the beginning and ending of the retained earnings for a specific period of time here 1st January 2006 until 31st December 2006. The retained earnings for a period can be obtained as the net of the previous retained earnings along with that of the current year. If the interest rate increases, the amount required after 20 years (from part a) will be lesser as the present value of the $ 20,000 required for 30 years will be lower. The reason is that the discount rate will be higher, which will reduce the amount required. An increase in the interest rate will also lower the amount required now (from part b), as higher interest will earn higher returns and hence the future value of the investment will be higher. This will lead to a lesser investment to obtain the required amount. An increase in the earnings rate will reduce the single deposit amount required computed in part a. The

Chinese philosophy Essay Example for Free

Chinese philosophy Essay Taiji (literally great pole) is a Chinese cosmological term for the Supreme Ultimate state of undifferentiated absolute and infinite potentiality, contrasted with the Wuji ( , Without Ultimate). The term Taiji and its other spelling Tai chi (using Wade-Giles as opposed to Pinyin) are most commonly used in the West to refer to Taijiquan (or Tai chi chuan, ), an internal martial art, Chinese meditation system and health practice. This article, however, refers only to the use of the term in Chinese philosophy and Daoist spirituality. Contents [hide] 1 The word 2 Taiji in Chinese texts 2. 1 Zhuangzi 2. 2 Huainanzi 2. 3 Yijing 2. 4 Taijitu shuo 3 Core concept 4 See also 5 References [edit]The word Chinese taiji is a compound of tai ? great; grand; supreme; extreme; very; too (a superlative variant of da ? big; large; great; very) and ji ? pole; roof ridge; highest/utmost point; extreme; earths pole; reach the end; attain; exhaust. In analogy with the figurative meanings of English pole, Chinese ji ? ridgepole can mean geographical pole; direction (e. g. , siji four corners of the earth; worlds end), magnetic pole (Beiji North Pole or yinji negative pole; anode), or celestial pole (baji farthest points of the universe; remotest place). Common English translations of the cosmological Taiji are the Supreme Ultimate (Le Blanc 1985, Zhang and Ryden 2002) or Great Ultimate (Chen 1989, Robinet 2008); but other versions are the Supreme Pole (Needham and Ronan 1978), Great Absolute, or Supreme Polarity (Adler 1999). [edit] Taiji in Chinese texts Taiji references are found in Chinese classic texts associated with many  schools of Chinese philosophy. Zhang and Ryden explain the ontological necessity of Taiji. Any philosophy that asserts two elements such as the yin-yang of Chinese philosophy will also look for a term to reconcile the two, to ensure that both belong to the same sphere of discourse. The term supreme ultimate performs this role in the philosophy of the Book of Changes. In the Song dynasty it became a metaphysical term on a par with the Way. (2002:179) [edit]Zhuangzi The Daoist classic Zhuangzi introduced the Taiji concept. One of the (ca.3rd century BCE) Inner Chapters contrasts Taiji great ultimate (tr. zenith) and Liuji six ultimates; six cardinal directions (tr. nadir). The Way has attributes and evidence, but it has no action and no form. It may be transmitted but cannot be received. It may be apprehended but cannot be seen. From the root, from the stock, before there was heaven or earth, for all eternity truly has it existed. It inspirits demons and gods, gives birth to heaven and earth. It lies above the zenith but is not high; it lies beneath the nadir but is not deep. It is prior to heaven and earth, but is not ancient; it is senior to high antiquity, but it is not old. (tr. Mair 1994:55) [edit]Huainanzi The (2nd century BCE) Huainanzi mentions Taiji in a context of a Daoist Zhenren true person; perfected person who perceives from a Supreme Ultimate that transcends categories like yin and yang. The fu-sui (burning mirror) gathers fire energy from the sun; the fang-chu (moon mirror) gathers dew from the moon. What are [contained] between Heaven and Earth, even an expert calculator cannot compute their number. Thus, though the hand can handle and examine extremely small things, it cannot lay hold of the brightness [of the sun and moon]. Were it within the grasp of ones hand (within ones power) to gather [things within] one category from the Supreme Ultimate (tai-chi ) above, one could immediately produce both fire and water. This is because Yin and Yang share a common chi and move each other. (tr. Le Blanc 1985:120-1) [edit]Yijing Taiji also appears in the Xici Appended Judgments commentary to the Yijing, a late section traditionally attributed to Confucius but more likely dating to about the 3rd century B.C. E. [1] Therefore there is in the Changes the Great Primal Beginning. This generates the two primary forces. The two primary forces generate the four images. The four images generate the eight trigrams. The eight trigrams determine good fortune and misfortune. Good fortune and misfortune create the great field of action. (tr. Wilhelm and Baynes 1967:318-9) This two-squared generative sequence includes Taiji, Liangyi Two Polarities; Yin and Yang, Sixiang Four Symbols (Chinese constellation), and Bagua Ba gua. Richard Wilhelm and Cary F. Baynes explain. The fundamental postulate is the great primal beginning of all that exists, tai chi – in its original meaning, the ridgepole. Later Indian philosophers devoted much thought to this idea of a primal beginning. A still earlier beginning, wu chi, was represented by the symbol of a circle. Under this conception, tai chi was represented by the circle divided into the light and the dark, yang and yin, . This symbol has also played a significant part in India and Europe. However, speculations of a Gnostic-dualistic character are foreign to the original thought of the I Ching; what it posits is simply the ridgepole, the line. With this line, which in itself represents oneness, duality comes into the world, for the line at the same time posits an above and a below, a right and left, front and back – in a word, the world of the opposites. (1967:lv) [edit]Taijitu shuo Zhous Taijitu diagram The Song Dynasty philosopher Zhou Dunyi (1017-1073 CE) wrote the Taijitu shuo Explanation of the Diagram of the Supreme Ultimate, which became the cornerstone of Neo-Confucianist cosmology. His brief text synthesized aspects of Chinese Buddhism and Daoism with metaphysical discussions in the Yijing. Zhous key terms Wuji and Taiji appear in the opening line , which Adler notes could also be translated The Supreme Polarity that is Non-Polar! . Non-polar (wuji) and yet Supreme Polarity (taiji)! The Supreme Polarity in activity generates yang; yet at the limit of activity it is still. In stillness it generates yin; yet at the limit of stillness it is also active. Activity and stillness alternate; each is the basis of the other. In distinguishing yin and yang, the Two Modes are thereby established. The alternation and combination of yang and yin generate water, fire, wood, metal, and earth. With these five [phases of] qi harmoniously arranged, the Four Seasons proceed through them. The Five Phases are simply yin and yang; yin and yang are simply the Supreme Polarity; the Supreme Polarity is fundamentally Non-polar. [Yet] in the generation of the Five Phases, each one has its nature. (tr. Adler 1999:673-4) Instead of usual Taiji translations Supreme Ultimate or Supreme Pole, Adler uses Supreme Polarity (see Robinet 1990) because Zhu Xi describes it as the alternating principle of yin and yang, and †¦ insists that taiji is not a thing (hence Supreme Pole will not do). Thus, for both Zhou and Zhu, taiji is the yin-yang principle of bipolarity, which is the most fundamental ordering principle, the cosmic first principle. Wuji as non-polar follows from this. [edit]Core concept Taiji is understood to be the highest conceivable principle, that from which existence flows. This is very similar to the Daoist idea reversal is the movement of the Dao. The supreme ultimate creates yang and yin: movement generates yang; when its activity reaches its limit, it becomes tranquil. Through tranquility the supreme ultimate generates yin. When tranquility has reached its limit, there is a return to movement. Movement and tranquility, in alternation, become each the source of the other. The distinction between the yin and yang is determined and the two forms (that is, the yin and yang) stand revealed. By the transformations of the yang and the union of the yin, the 5 elements (Qi) of water, fire, wood, metal and earth are produced. These 5 Qi become diffused, which creates harmony. Once there is harmony the 4 seasons can occur. Yin and yang produced all things, and these in their turn produce and reproduce, this makes these processes never ending. (Wu, 1986) Taiji underlies the practical Taijiquan (T’ai Chi Ch’uan) A Chinese internal martial art based on the principles of Yin and Yang and Taoist philosophy, and devoted to internal energetic and physical training. Taijiquan is represented by five family styles: Chen, Sun, Yang, Wu(Hao), and Wu (NQA {Meeting}).

Freelancing: The Financial Issues

Freelancing: The Financial Issues A freelance musician is a professional musician who is self-employed. This might be as a musician, singer/songwriter, session engineer, producer, artist manager, music publisher, music promoter, event manager, or more than one of these. A study in the USA by the National Endowment for the Arts, found that nearly 45% of professional musicians are self-employed.[1] I intend to set myself up as a freelance music producer as I believe that working on a freelance basis will provide autonomy and flexibility over my working life and the freedom to explore and develop different aspects of work that interest me. I hope to work on a wide range of projects with companies across the industry, and make new contacts on each new project that will help to further my career. This paper reviews some of the financial issues that any self-employed person must deal with in the music industry. Freelancing allows you more control of your financial future. For instance, you will not have to hope for the infrequent pay rises that come as an employee. However, on the downside, freelancing also means that you are directly responsible for your income. If you do not work you do not earn any money and your income can be uncertain and unpredictable and may vary considerably from month to month. Freelancers have no set salary, no paid holiday or sick leave, no paid training, and no automatic enrolment in pension or health insurance schemes. Being self-employed also affects your eligibility for unemployment benefits.[2] Freelancers may have less social interaction with workplace colleagues and can risk becoming isolated. They also need to manage the financial issues that would normally be taken care of by an employer. These issues are not difficult to deal with, but they require time and effort, and meticulous record keeping. Budgeting For many musicians, the line between profit and debt is very fine. You need to prepare a budget to ensure that you spend less than you earn.[3] The first step in budgeting is to calculate the costs of meeting your basic needs, that is items such as rent, food, mobile phone, internet and professional expenses. The website of the Savvy musician provides a useful template for monthly budgeting.[4] It is the optional expenses like eating out, buying new clothes and consumer goods that often cause problems unless they are managed carefully. Credit card expenditure needs to be managed particularly carefully, otherwise the monthly bill can come as a shock. Ideally you should pay off the credit card expenses immediately to avoid late payment fees and interest. If you are thinking of making a major purchase, it is wise to ask yourself how long it will take you to earn that money.[5] Ideally, to cope with the risks and uncertainties of freelancing, you should have savings that will cover at least six months of basic expenses. Freelancers also need to consider their retirement. This might seem like an irrelevant distant eventuality, but the sooner you set up a retirement fund, the better. It is essential to take professional advice on your pension options. Income Income from self-employment is known as trading income.[6] Many freelancers are over-optimistic about their likely income, especially when starting out; it is better to err on the side of caution. There are many ways to earn money as a musician.[7] Few musicians rely on one source of employment; the majority juggle numerous different roles. A survey in 2012, by the Future of Music Coalition (which aims to ensure that artists are paid fairly for their work), found that more than half of the professional musicians surveyed earned their money from three or more roles. Only 18% of respondents made their income from a single role.[8] It is sensible to have a range of income sources to draw upon in case circumstances change in one area of your work. So, when planning your business, think creatively about all the ways you might earn money. Brainstorming the options, can lead to some surprising avenues such as teaching, tutoring, selling jingles and ringtones, or playing non-traditional instruments. The Future of Music Coalition has published a list of over 40 possible sources of revenue for musicians.[9] It is also important to remember that, despite recent funding cuts, some organis ations do still provide grants for musicians for specific projects. Some of the sources recommended by the Musicians Union are listed in Appendix 1. You can of course, work both on a freelance basis and as an employee, and many freelancers start in this way, perhaps employed by an orchestra, or a music studio, and gradually building up the freelance side of their work. However, this can involve a fine balancing act, since it is important that you are available for freelance commissions. If you are approached but are not available, then that contact may not ask for your help again. Obviously a key issue is to decide what hourly rate to charge for your services. When you are starting out as a freelancer, this can be hard to gauge. It is advisable to try to get a sense of what the going market rate is in the field in which you intend to work. You may have a rough idea of your worth, but do ask around to check that you are not under or over estimating what you can charge. You may also need to be flexible with your rates. When you are just starting out you may find that you need to take whatever work comes your way, even if this means that you do not always get to use the full range of your professional skills. You may need to accept more menial roles. For example, as a freelance producer, I accept that I may need to carry out some of the tasks that I might expect a session engineer to perform such as setting up the recording studio microphones, consoles, booths, amps, stands, or sound checking for live events. Or I may do the work usually undertaken by a session engineer such as recording, editing and mixing audio. Many freelancers undersell their skills simply to get work and it can be a fine balancing act to get work at a rate that reflects your skills. This does take both experience and confidence and it is something that you will learn after some time in the industry. Contacts and Networking While you may be working for yourself, your work prospects are highly dependent on your network of contacts and on developing good relationships with others in your field. The better your contacts are, the more likely it is that some will be able to push work in your direction. So, keeping your contacts list up to date, and actively seeking new contacts in the fields that you want to work in, is essential. This may involve attending record launches, socialising where those in your field hang out, even helping for free in studios in the hope that you will make useful contacts. Those who succeed independently are often ruthless in their pursuit of good contacts. You need to plant as many seeds as possible in the widest possible range of fields, with the aim of diversifying your sources of work and revenues so that, if for some reason you fail in one field there are other options to pursue in other fields.[10] Be organised Whether you use an accountant, or look after your own books, you must be organised, particularly regarding expenses claims, and must set aside time every week to ensure your books are up to date. You must keep copies of all your receipts, contracts, invoices and correspondence in case the Tax Office (HMRC) require evidence for your accounts. You are also obliged to retain this information for up to 6 years after submission.[11] Ideally your documents should be filed in chronological order, and separated into different types of document. Receipts It is advisable to pay for as many things as possible by cheque or credit card as this gives you a useful double-check on expenses, and provides a receipt in case you lose the original. It is also recommended to have separate bank accounts for your business and personal affairs. If possible, you should also have a different credit card for work-related expenses, so that these are clearly separate from any personal expenditure. It is a good idea to staple any receipts for items paid by credit card onto your credit card statement. Spreadsheets The easiest way to keep track of your expenditure in a way that will help you or your accountant to submit the annual tax return, is to set up a simple Excel spreadsheet (although dedicated financial management programmes are also available). The columns in the spreadsheet might for example, be labelled as follows: Date (expenditure incurred) Item (description of expenditure) Cash} Cheque} How you paid Direct Spending} Debit card} Credit Card} Phone} Internet} Print/post} Subscriptions} Books/Music} Type of Expenditure Computer} Equipment} Wages} Consultancy} Entertaining} Travel/Subsistence} VAT} Accountants} Tax} You then organise your receipts in chronological order and enter the details into the spreadsheet. Invoices should be numbered sequentially and paper copies filed as they are submitted. A similar Excel spreadsheet can help you keep track of when invoices were sent, the amount of VAT and expenses they include and when they were paid. The columns might for example be labelled: Invoice No Date sent Date received Total amount Expenses VAT Total Net Running Annual Total Accountant As your business grows, you may decide to hire an accountant. If you are earning around  £20,000 a year, with  £2,000 annual expenses, you may find your own accountant pays for itself.[12] People who do their own taxes are often unaware of all the deductions that are legitimate, so the money spent on hiring an accountant can pay off.[13] Either way, do seek advice on what expenses are deductible. Contracts It is obviously essential to ensure that you are paid for your work, and are paid fairly. Rather than leaving this to chance, or trusting to the goodwill of your employer, you must have a robust contract for all the work that you undertake. There are many unscrupulous agents and managers in the industry who will exploit those who fail to handle this appropriately. Always get professional advice before signing contracts, as these can contain complex clauses which could reduce your income substantially. Invoicing You should submit your invoices promptly and professionally; otherwise your income could be delayed by your own inefficiency. If your contractor has cash flow problems, then that is their problem. You must not allow your generosity or inexperience to leave you out of pocket. The Musicians Union lists a number of elements that all invoices should include:[14] Business name, logo, (if you have one), address, phone number, email address; Contact name for queries; VAT number (if you are VAT registered); Company Number (if you are trading as a Limited Company); Date of invoice and invoice number (generally sequential by date issued); Engagers name and address; Description of the services date, times and venue etc.; VAT payable; Expenses; Total due; Payment information bank name and address, account name, account number and sort code, plus IAN number and Swift Code (for international payments); Terms For example: Strictly 30 days net. Late Payment of Debts The Musicians Union also provides guidance on the Late Payment of Commercial Debts (Interest) Act 1998. Under this Act, you may be able to claim statutory interest at 8%, and may also be eligible for compensation for late payment. The Unions legal services can help their members to pursue debts.[15] Expenses Keeping track of all your business-related expenses is absolutely crucial; many of these will be either tax-deductible or will need to be claimed back from your engager. This can be laborious, but is well-worth doing accurately as it can save a lot in unnecessary costs. HMRC has many detailed rules regarding items that can be claimed as legitimate business expenses, but essentially anything claimed must be used solely for your business. Legitimate expenses can include computers, data storage, music software, instruments, instrument cases, strings, drumsticks, resin, instrument insurance, repairs and spare parts, manuscripts and sheet music, publicity costs (flyers, badges, T-shirts, posters and photos), hire costs for rehearsal rooms, studios and instruments, audio equipment (such as CD or MP3 players), memberships, coaching, commission paid to agents and managers, solicitors fees, theatrical clothing, stationary, printing and photocopying, postage, business-related phone calls, internet costs, travel and expenses, entertainment and any other related expenses. If you use a distinct area of your home as an office, and use it just for business purposes, you can also claim for a proportion of the total running costs of your home the interest on your mortgage, or your rent, property and contents insurance, and utilities.[16] However, if you also use your home office for another purpose such as a guest room, then the amount that you can claim may be restricted. Some bills, such as phone use, must be apportioned into personal and business use before making a claim. You can also claim for any wages that you pay (e.g. for secretarial help or roadies). However, if you regularly use assistants you may need to sign up to a PAYE scheme which will involve deducting tax and National Insurance Contributions.[17] Many musicians travel extensively and all travel costs can be claimed. If your car is used for both business and pleasure, it is essential to use a mileage logbook to record details of the mileage. If you want to claim part of your car expenses against your tax, it will then be relatively straightforward to work out the proportion of business to private mileage.[18] Motoring expenses cover road tax, insurance, petrol, servicing, maintenance, spare parts, subscriptions to motoring organisations, interest on loans for buying a vehicle, vehicle rental, and garage leasing. Instead of recording all your motoring expenses separately, it can be simpler just to claim Authorised Mileage Rates (AMRs). Currently the HMRC allowance for use of your own car or van, is 45p per mile for the first 10,000 miles. Any mileage over this in one year can only be claimed at 25p a mile. Motorbike rates are 24p per mile, and the rate for travel by bicycle is 20p a mile. To use this scheme, business mileage must be logged separately, but you cannot claim any other motoring expenses apart from parking fees, road tolls and the congestion charge.[19] The AMRs scheme is only applicable if your turnover is below the VAT registration threshold[20],  £83,000 a year (from 1 April 2016).[21] You must stick with one or the other scheme. Airfares and taxi, bus and train fares are all claimable, as are accommodation and subsistence costs (food and drinks). However, it is advisable to be modest in what you claim as any expenses can be scrutinised by HMRC. Collecting Royalties The world of music licensing and royalties is highly complicated, and the literature is full of stories about expensive legal disputes between artists, writers, recording companies, publishers, and internet companies. So, you may need to take legal advice if your income is dependent on collecting royalties. The system is also changing in response to demands from the industry, so you need to keep a careful watch on new legislation, particularly in the digital field. There are several types of royalties: Public Performance royalties are paid to songwriters and publishers by anyone who publicly performs their music on radio and television, live performances, retail outlets or over a service like Spotify or Pandora. Mechanical royalties are paid to songwriters and artists for CD or DVD sales, and when music is streamed on-demand (e.g. Spotify).[22] Print royalties are generated from sheet music for writers or publishers only. These royalties are typically bundled with performance rights royalties. Songwriters and recording artists usually assign their rights to a third party to manage, instead of trying to track a songs use and seeking payment independently. Song copyrights are often assigned to a music publisher, while master recording copyrights are assigned to a record label. Musicians and artists receive royalties in various ways according to their field. Many royalties are paid through membership of a collection society. In the UK, these are: PRS for Music, represents songwriters, composers and music publishers. It licenses the use of members compositions and lyrics and if a members music has been performed or broadcast, it collects and pays out the licence fees. In 2012 it collected music royalties of  £641.8m.[23] MCPS (Mechanical Copyright Protection Society), collects licence fees on behalf of writers and publishers when their music is sold. PPL cover royalties from recorded music when it is broadcast or played in public. While PRS for Music charge a  £50 joining fee, there is no charge for PPL at present. Royalties from PRS are paid quarterly while those from PPL are paid on an annual basis. In relation to radio and TV broadcasts and live performances, the royalties are calculated exactly. However, for background music (as in say, shopping precincts), payments are based on survey data. It is advisable to join a collecting society if your music has been recorded, broadcast, performed live or played in public.[24] The licensing and royalties system is highly complicated and contains many middle-men all of whom take their share of the profits from music. It also has several specific problems that artists should be aware of. These include bad contracts for example those that contain clauses that reduce royalties due to breakage fees, which may have been reasonable when most music was distributed on vinyl, but are still included in contracts in the age of CDs. Grant of rights clauses mean that a contract can affect your revenue even beyond the end of a contract period. Similarly, a Controlled Composition Clause limits the amount of mechanical royalties the company is required to pay for records it releases, and holds the artist responsible for the excess. Its main purpose of is to NOT pay artists the statutory rate and to NOT increase royalties as costs of living increases; basically, to thwart copyright law.[25] This shows the importance of taking good legal advice on contracts. Sole Trader or Limited Company Working as a sole trader is the more straighforward way to commence your business, and allows you to focus on getting the business going without having to worry about the extra administration that comes with operating as a limited company. The process of setting up a limited company is more complex, and brings additional financial and administrative responsibilities such as appointing directors, registering with Companies House, completing company accounts and an annual return, and dealing with Corporation Tax. However, a limited company brings several benefits over sole trading. This is the main reason why after trading for a couple of years, and perhaps earning at least  £30,000 per year, many freelancers set up as a limited company.[26] The cost of setting up a company is minimal, and it is possible to handle much of the paperwork yourself to minimise accountants fees. You may not bother with an accountant if you are a sole trader with a small turnover, but most limited companies use accountants. Their charges for preparing the annual accounts for a company are normally a little higher than for sole traders.[27] Tax and National Insurance Contributions (NICs) Most freelancers set up a limited company to reduce the amount of tax that they pay. The profits of a limited company are subject to Small Profits Corporation Tax rate, which is currently 20%, on a turnover of  £300,000 or less per year. Income tax rates are currently: 0% on earnings up to  £11,000, 20% between  £11,001 and  £43,000, 40% between  £43,001 and  £150,000 and 45% over  £150,000.[28] Therefore the direct tax advantages of trading as a limited company only come into play when your earnings are over  £43,000. However, since salaries and not dividends are subject to NICs, many company directors opt to draw a small salary and to take most their income as a dividend. In this way NI contributions are minimised, which is the main reason why the limited company is more tax efficient than the sole trader route. Company directors must complete an annual self-assessment tax return, just like freelancers. The company also pays tax, but separately from its directors. This tax must be paid before any profits are allocated to shareholders, and within 9 months after the end of the period for which the corporation tax returns have been produced.[29] National Insurance (NI) Self-employed individuals pay Class 2 and Class 4 NICs. Class 2 NICs are  £2.80 per week, (except for those with low earnings). Class 4 NICs apply to annual profits, and are payable at 9% on profits between  £8,060 and  £43,000 per year, and 2% on any profits above this threshold.[30] Limited companies and their employees pay Class 1 NICs on salaries above  £155 per week. Thereafter, the company pays NICs at 13.8% of salaries, and employees pay NICs at 12% on salaries up to  £827 per week (2% above this threshold).[31] Limited Liability Under law, limited companies are deemed to be separate entities from their owners. This means that the company bank account, any assets and any tenders or contracts are just the business of the company and are totally separate from the interests of the companys shareholders. If you run a limited company therefore, your personal assets, such as your house, are protected against company debts. Sole traders do not have this protection from financial claims, and may therefore decide to take out professional liability insurance (if appropriate to the risks they face). Funding As a limited company is a distinct entity from its owner, banks can look more favourably on applications for loans than they would for sole traders.[32] Professional Many larger firms, prefer to deal with limited companies rather than sole traders. So, trading as a company can open access to a range of clients that might be reluctant to engage sole traders. Having a limited company can also bestow a more professional image; being able to introduce yourself as a Director, can mean that your clients accord you more respect.[33] Company Name When your company is registered with Companies House, its name is legally protected, and cannot be used by anyone else. Sole traders have no such protection. Shareholders Because a limited company can issue shares, you are able to sell a stake in your company, or transfer the ownership of shares. This can be an advantage if you wish to raise capital or retire. Pension Employees pensions are tax-deductible in limited companies; another tax benefit that sole traders do not enjoy.[34] Taxes A major burden as a freelancer is being responsible for your own taxes. It is your responsibility to declare your income and pay tax on it. As a self-employed musician, instead of paying tax through a PAYE scheme (as an employee would), you must complete a Self-Assessment form every year, to inform HMRC about your income, and calculate how much tax you owe.[35] If you are newly self-employed, you will need to register using use form CWF1. Most HMRC registrations can now be done online on their website.[36] HMRC will then confirm your registration and give you a Unique Taxpayers Reference (UTR). The UTR should be quoted on all correspondence and on all payments made. The tax return should disclose your taxable income for the relevant tax year. Tax Returns should usually be filed with HMRC by 31 October (for returns filed by paper) or 31 January (for electronic submission) following the end of the year of assessment. For example, for the tax year ended 5 April 2016, a paper return must reach the HMRC by 31 October 2016, while the deadline for online filing is 31 January 2017. Fixed penalties are automatically enforced for failure to submit by these dates. [37] A tax year starts on 6 April and ends on the following 5 April. For the first tax year of self-employment, taxes do not have to be paid until 31 January following the end of that year. Subsequent payments will normally be made in two instalments, in January and July each year. Payments can be made by Direct Debit, Bank Giro, online banking etc.[38] You must also keep records on any other sources of income such as: bank interest, dividends, P45s/ P60s from pension providers or employers, any benefits like the State Pension or Job Seekers Allowance, any assets you have sold, and income from any land or property in the UK or overseas. [39] As noted above, the advantage of being self-employed is that you can deduct your business-related expenses. Be sure to keep good records on everything that you spend. Organize this into a spreadsheet and keep the back-up receipts that document your expenses. [40] VAT It is not compulsory to register for VAT until your turnover, exceeds  £83,000 a year (from 1 April 2016).[41] However, you can register voluntarily no matter what your turnover is, and if you do so, you can then claim back the VAT you were charged on telephones, instruments, etc. However, this does mean that you will also have to charge VAT on all your fees (every gig, music lesson, arrangement, etc.) and handle the additional paperwork. You should seek the advice of an accountant on the benefits and pitfalls of VAT registration before deciding. Failing to register for VAT at the appropriate time, can lead to a late registration fine. Although, if your income varies and only exceeds the threshold for a short time, you can notify HMRC and obtain their prior agreement not to have to register for VAT.[42] Once you have registered for VAT, it will become chargeable at 20% on all your invoices. VAT can also be recovered on most business expenditure, subject to various rules. To recover VAT on purchases and expenses, the items must be used directly for your business and you must keep a VAT receipt as evidence, (a credit card slip is not sufficient). Items that could be used for both business and personal purposes, e.g. home telephone calls, must be apportioned and only a proportion of the VAT recovered. [43] National Insurance Contributions(NICs) As noted earlier, freelancers are responsible for their own Class 2 and Class 4 NICs. Even those who are employed, and paying Class 1 contributions must pay Class 2 and Class 4 contributions on their freelance earnings. The rates are dependent on profit levels. You must inform the Social Security office that you are in business by registering as self-employed. If you fail to do this within three months of becoming self-employed you will incur a penalty, the amount of which is based on the contributions missed and the reasons for registering late. The easiest way to pay Class 2 National Insurance Contributions every month is by direct debit to the National Insurance Contributions Office. The Class 2 rate is  £2.80 per week. Self-employed people who earn less than the threshold of  £5,965 can be exempt under the Small Profits Threshold, although they may wish to preserve their state benefit entitlements by continuing to pay the contributions. [44] The rate for Class 4 contributions is currently 9% of self-employed profits between  £8,060 and  £43,000 per annum, with a further 2% payable on all profits above this threshold.[45] Conclusion Most musicians, whether they are working as a singer/songwriter, session engineer, producer, artist manager, music publisher, music promoter, or event manager have little choice but to operate as freelancers today. There are simply not enough opportunities for full time salaried work in the industry to meet the potential demand. Employers have come to rely on the flexibility and low overheads that a pool of self-employed musicians can offer them. This is not necessarily a bad thing. It does mean that work is uncertain and unpredictable, but it brings musicians the freed

Comparing the Films The Dead Poets Society and The Breakfast Club Essay

Comparing the Films The Dead Poets Society and The Breakfast Club There are numerous differences between the two movies, and although they’re both in a different setting and different time frames, there are also many similarities. â€Å"The Dead Poets Society† is set in the mid 60’s in an upper class prep school. On the other hand â€Å" The Breakfast Club† is set in the 80’s at a typical public High School in a middle-class suburban neighborhood. Although one movie has a timeline of a whole school year, and the other only goes through one day, they both show very clearly how the average student life is and was in their respectable time frames. It is easy to compare and contrast everything from settings and timeframes, to obedience, to discipline, and also even stress given by parents. I believe I could only compare these two movies if they were realistic, and I believe that they were for the most part. It is very clear in these two movies how obedience, and disciplinary action has changed over the years. In â€Å" The Dead Poets Society,† the kids got in trouble for such things as staying up past curfew or not turning the lights off when they were supposed to. Of course this is how some schools still work but it’s definitely no longer the social norm. When’s the last time you heard about someone getting spanked with a paddle in school? It has been a long time since I’ve heard about something like that, In America at least. If a teacher were to spank a child today, not on...

Guajilote Case Study Essay -- Business Management Strategy Formulation

Guajilote Case Study This essay examines the case study of the Guajilote co-operative, a co-operative with a licence to collect and sell fallen timber in the Honduras. The paper is in five sections; giving an impression of the co-operative as a business venture, conducting a SWOT analysis of the company, looking at any competitive advantage or strategy. Describing the value chain and considering strategic alternatives open to the co-operative. Solution 1. The business is certainly located in rural areas and considerations of how this may affect tribal people should be considered. The use of natural resources can be profitable but environmental considertaions such as the impact of deforestation on the global climate needs are vital. Mahogany is a rare wood and the tree does take a long time to grow. This business venture should plant so many trees for each Mahogany tree it finds felled. 2. SWOT Strengths: 1. Setting up hand sawmills at the fallen trees. 2. Developing a knowledge of markets and business practices. Weaknesses: 1. Massive funding required to drive operations. 2. Size and growth of the company is limited by the amount of mahogany produced. 3. Hard to find and process the trees. 4. Lack of adequate transportation. Opportunities: 1. Contributing to Honduras' economic growth. 2. Establish a good working relationship with distributors like Santos Munguia. 3. Establishing direct links with local furniture makers. Threats: 1. Deforrestation and impacts on the environment. 2. Pressure groups like Greenpeace and CITES. 3. Natural disasters like forest fires. 4. Decline in numbers of trees. 5. Treacherous terrain and wet weather. 6. Lack of co-operation from Honduran authorities. 7. Corrupt distributors not paying the workers for the wood worth. 3. This comapny does have a competitive advantage in that it can develop its links with local furniture manufacturers. It is possible to operate within the constraints of Cites, if transport costs are met by local buyers. Help provided to these local manufacturers may be achieved by setting up IT systems that monitor input and output of wood. Guajilote's strategy is weak in dealing with deforestation issues. It should engage in planting more mahogany trees. Greenhouses could be set up to cultivate the seedlings. The local population ne... ...lso destroy their seeds. Mahogany could therefore be quickly eliminated from a site. Each year, Guajilote lost more area from which it could take mahogany. To make matters worse, many Hondurans considered the area around La Muralla National Park to be a frontier open to settlement by landless campesinos (peasant farmers). In fleeing poverty and desertification, people were migrating to the Olancho province in large numbers. Not only did they clear the forests for cultivation, but they also cut wood for fuel and for use in building their homes. Most of the new settlements were being established in the area's best mahogany growing habitats. Another concern was that of potential restrictions by CITIES (the international convention on trade in endangered species). Although trade in mahogany was still permitted, it was supposed to be monitored very closely. If the populations of the twelve mahogany species continued to decrease, it was possible that mahogany would be given even greater protection under the CITIES framework. This could include even tighter restrictions on the trade in mahogany, or could even result in an outright ban similar to the worldwide ban on ivory trading.

Roman Aqueducts :: essays research papers

Ancient Rome had eleven major aqueducts, built between 312 B.C. (Aqua Appia) and 226 A.D. (Aqua Alexandria); the longest (Anio Novus) was 59 miles long. It has been calculated that in imperial times, when the city's population was well over a million, the distribution system was able to provide over one cubic meter of water per day for each inhabitant: more than we use nowadays. For most of their length the early aqueducts were simply channels bored through the rock, from the water intake in the hills almost to the distribution cistern in Rome. The depth of the channel below ground varied so as to maintain a constant, very shallow gradient (less than 1/200) throughout the length of the aqueduct; vertical shafts were bored at intervals to provide ventilation and access. Only in the final stretches was the conduit raised on arches, to give a sufficient head for distribution of the water within the city. In order to keep the gradient constant, the aqueducts took a roundabout route, fol lowing the contours of the land and heading along spurs which led towards Rome. The most dramatic parts of a Roman aqueduct were—and still are—the bridges (also known as arcades) that carried the water over low spots in the terrain. Perhaps the best-known of these is the Pont du Gard, a part of the aqueduct that served the town in Nà ®mes in Gaul (today's France). The bridge stands on three tiers of arches and has a length of 274 m (900 ft). Built without the use of mortar, it stands 49 m (160 ft) above the Bornà ¨gre Ravine. Another famous Roman aqueduct is the one in Segovia, Spain; it still carries water, although it did need restoration in the 15th century. s time went on, Roman engineers became more daring in the construction of high arches to support the conduits across valleys and plains and some of the later aqueducts were as much as 27 meters (about 100 feet) above ground level in places. Closed pipes were occasionally used to cross valleys by the "inve rted syphon" method: the pressure forced the water down and up again on the other side, to a level slightly lower than before. But this system was costly, as it required lead pipes (lead had to be imported from Spain or Great Britain) and it was difficult to make joints strong enough to withstand the pressure; so arches were far more common.

Sarbanes-Oxley Act Acc 403- Auditing

SARBANES-OXLEY ACT ACC 403- AUDITING PROFESSOR August 19, 2012 The Sarbanes-Oxley Act was placed into effect July 2002; the act introduced major changes to the regulation of corporate governance and financial practice. The Sarbanes-Oxley Act was named after Senator Paul Sarbanes and Representative Michael Oxley, who were the main architects that set a number of non-negotiable deadlines for compliance. The organization for Economic Cooperation and Development was one of the first non- government organizations to spell out the principles that should govern the corporate and issued the OECD Principles of Corporate Governance.The Sarbanes Oxley Act also known as Public Company Accounting Reform and Information Protection Act and Corporate and Auditing Accountability and Responsibility Act. It is a federal law that set various principles for all the U. S. companies to detect and evade fraud. It detects the scandals in the securities markets when the share prices of securities are affected . The act requires the Securities and Exchange Commission to implement rulings on requirements to comply with the law. It created a new agency called Public Company Accounting Oversight Board which regulates, oversees and inspects the role of auditors of public companies.The act covers auditor’s independence, corporate governance, internal control assessment and financial disclosures. The Sarbanes–Oxley contains 11 titles that describe specific mandates and requirements for financial reporting. Each title consists of several sections, which are the following below: I. Public Company Accounting Oversight Board (PCAOB): provides independent oversight of public accounting firms providing audit services and creates a central oversight board tasked with registering auditors. II.Auditors Independence: establishes standards for external auditor independence to limit conflicts of interest and states new auditor approval requirements, audit partner rotation, and auditor reporti ng requirements. III. Corporate Responsibility: mandates that senior executives take  individual responsibility for the accuracy and completeness of corporate financial reports. It defines the interaction of external auditors and corporate audit committees, and specifies the responsibility of corporate officers for the accuracy and validity of corporate financial reports. IV.Enhanced Financial Disclosure: describes enhanced reporting requirements for financial transactions, including off-balance-sheet transactions, pro-forma figures and stock transactions of corporate officers. It requires internal controls for assuring the accuracy of financial reports and disclosures, and mandates both audits and reports on those controls. V. Analyst Conflict of Interest: includes measures designed to help restore investor confidence in the reporting of securities analysts. It defines the codes of conduct for securities analysts and requires disclosure of knowable conflicts of interest. VI.Commi ssion Resources and Authority: defines practices to restore investor confidence in securities analysts, and defines the SEC’s authority to censure or bar securities professionals from practice and defines conditions under which a person can be barred from practicing as a broker, advisor, or dealer. VII. Studies and Reports: requires the Comptroller General and the SEC to perform various studies and report their findings. Studies and reports include the effects of consolidation of public accounting firms, the role of credit rating agencies in the operation of securities markets, securities violations and enforcement actions.VIII. Corporate and Criminal Fraud Responsibility: It describes specific criminal penalties for manipulation, destruction or alteration of financial records or other interference with investigations, while providing certain protections for whistle-blowers. IX. White Collar Crime Penalty Enhancement: It recommends stronger sentencing guidelines and specifica lly adds failure to certify corporate financial reports as a criminal offense. X. Corporate Tax Returns: Section 1001 states that the Chief Executive Officer should sign the company tax return. XI.Corporate Fraud Responsibility: It identifies corporate fraud and records tampering as criminal offenses and joins those offenses to specific penalties. It also revises sentencing guidelines and strengthens their penalties. Prior to Sarbanes Oxley act, auditing firms were self regulatory. It may happen several times that challenging the counts of the companies damage the relationship with the clients. The frauds of the companies cannot be detected easily. There are many risks associated with the auditing report since it will not be able to report the actual position of the companies.The Sarbanes Oxley act states that it shall be unlawful to contravenes the provisions of the commission because it is not in the public interest or it is unprotected for investors, for any other person to take any action to fraudulently influence, manipulate, coerce and mislead any independent person in the performance of preparing the audit report of the financial statements of any concern. The most important aspect in the financial statement is to follow and regulate the internal control system of the organization.This is the most important point in this act as it detects that the internal control system of the corporations is sound or not. It wants to report about the internal control system of the organization so that the actual picture of the organization can be reflected easily in front of the members of the companies and the investors. Since the main motto of Sarbanes Oxley act is to protect the investors it has to report about the internal weakness and strengths of the companies to give a true picture of the company. It requires management to report the following points: * The operating effectiveness of internal control related to the significant accounts which affects the materia lity of the account or from which the material misstatement risks can be occurred. * The flow of transactions so that it should be understood that whether there is any material misstatement could arise or not. * Evaluate the control of the company to record the components of COSO framework. * Perform the fraud risk assessment of the organizations. * Evaluate the control performance to detect and evade the errors. * Evaluate the control performance to detect and evade the fraud. Evaluate the work of the management to ensure that whether they consider the basic elements like objectivity, competency and risks. * Evaluate the internal control over financial reporting. * Evaluate the size and complexity of the company. The findings of Sarbanes Oxley act incorporate a code of Best Practices on Director’s Remuneration. The four main issues which were dealt with as follows: * The role of Remuneration Committee in setting the remuneration packages for the CEO and other directors. * Th e required level of isclosure needed to shareholders regarding details of director’s remuneration and whether there is the need to obtain shareholder approval. * Specific guidelines for determining a remuneration policy for directors and * Service contracts and provisions binding the Company to pay compensation to a director, particularly in the event of dismissal for unsatisfactory performance. The important recommendation was the establishment of Remuneration Committee of Non- Executive Directors which would be responsible for deciding the remuneration of executive directors.The majority of the recommendations of the committee were incorporated in the Listing Rules of the London Stock Exchange. The principles of corporate governance are evolved as under: * Sustainable development of all the stakeholders- it ensures the growth of all the individuals associated with or effected by the enterprise on sustainable basis. * Effective management and distribution of wealth- it ensur es that enterprise creates maximum wealth and judiciously uses the wealth so created for providing maximum benefits to all the stakeholders and enhancing its wealth creation capabilities to maintain sustainability. Discharge of social responsibility- it ensures that enterprise is acceptable to the society in which it is functioning. * Application of best management practices- it ensures excellence in functioning of enterprise and optimum creation of wealth on sustainable basis. * Compliance of law in letter and spirit- it ensures value enhancement for all stakeholders guaranteed by the law for maintaining socio-economic balance. * Adherence to ethical standards—it ensures integrity, transparency, independence and accountability in dealings with all stakeholders.The Ministry of Heavy Industries and Public Enterprises, Department of Public Enterprises has issued Guidelines on Corporate Governance for Central Public Sector Enterprises. For the purpose of evolving Guidelines on c orporate governance, Central Public Sector Enterprises have been categorized into two groups, namely – 1. Those listed in the stock exchange and 2. Those not listed in the stock exchange. Some claim that the financial activities of publicly traded companies are still severely nder-regulated while others hold that SOX was necessary, but that some of its requirements are not cost-effective which I believe will change over time. Reference * Arens, A. , Elder, R. J. , & Beasley, M. (2010). ACCT 403: Auditing and assurance services: 2010 custom edition (14th ed. ). Upper Saddle River, NJ: Pearson Education. * http://www. soxlaw. com/ * http://searchcio. techtarget. com/definition/Sarbanes-Oxley-Act * http://www. sec. gov/about/laws. shtml * http://www. sec. gov/news/testimony/090903tswhd. htm * http://www. sox-online. com/basics. html