Factors change Essay Example for Free

Factors change Essay After I have recorded all the results and written into tables, I used the data to make graphs, which are voltage against current. When I finished marking all the points on to the graphs, I put a line of best fit through. There are five graphs in total, each represents a thickness, on a graph there are five lines of best fits, and each represents a length of a thickness. Then I pick a point on the lines of best fits and calculate the gradient (resistance) by dividing the point on y-axis (voltage) by the point on the x-axis (current) as the ohms law states that V=IR. Finally, I have to draw five graphs to show the relations between length (on the x-axis) and resistance (on the y-axis). Also, I have to draw another graph to show the relations between thickness (on the x-axis) and resistance (on the y-axis). Evaluating Although the whole experiment has been going very well, but the results seems to show some bias or errors as in one or two of the graphs, the pattern is quite strange because some of the gradient (resistance) is not proportional to the lengths. Overall, the experiment can be said as a success. The aim of this experiment is to measure how the resistance change as the factors change. There are so many variables-temperature of surroundings, length, thickness, material, temperature of the wire, surface area, magnetic properties, coated or not and purity-that can be chosen to measure in this experiment. But in this experiment I am only going to measure two of them, which are length and thickness because these two are the easiest to measure and show the effects on the resistance. Prediction: The result should be showing that the resistance increase as the length or thickness increase. This happens because when length or thickness increases, the current will decrease. As the voltage wont change, if the current decreases, then the resistance will increase. Method: In the experiment I will need to use apparatus listed below.

Antigone :: essays research papers

  Ã‚  Ã‚  Ã‚  Ã‚  ee cummings once said, â€Å"to be nobody but yourself in a world which is doing its best, night and day, to make you everybody else—means to fight the hardest battle which any human being can fight.† That quotation is exemplified in many works of literature, but the opposite is too. No matter what people try to be or not to be, they don’t always succeed. For example, in the play, Antigone, by Sophocles, the character, Antigone displays the idea of being her own person, but Creon displays the opposite of that.   Ã‚  Ã‚  Ã‚  Ã‚  In the prologue, Antigone tells Ismene that she will do whatever she wants pertaining to their brother, whether or not Ismene agrees and wants to do the same. Antigone tells Ismene, â€Å"If that is what you think, I should not want you, even if you asked to come. You have made your choice, you can be what you want to be.† Antigone displays ee cummings’ thought. The gods want her to think and act a certain way  their laws  but she has her own belief that her brother, Polyneices, should be buried and his spirit should have the proper life, instead of being punished. Even if he was brave, he should be punished. But Antigone doesn’t believe in that. No matter what the consequences, she fights it and does what she thinks is right.   Ã‚  Ã‚  Ã‚  Ã‚  Creon, the king of Thebes, exhibits cummings’ idea. Kings are always supposed to be these big, mighty, terrors that triumph over all and tell their kingdom what to do. Even if Creon did not want to commit someone to demise, he would, because that’s what he’s â€Å"supposed† to do. Creon may be trying to stray from being everyone else, and be his own person, but he’s not succeeding. He is what everyone else wants him to be: a controller over everyone. Creon believes that, â€Å"this is [his] command, and you can see the wisdom behind it. As long as [he is] King, no traitor is going to be honored with the loyal man. But whoever shows by word and deed that he is on the side of the State, --he shall his [Creon’s] respect while he is living, and [his] reverence when he is dead (Scene 1, line 38).† But he doesn’t follow through on that statement. If Creon were to commit someone to his death, he would not give him r espect when he’s dead.

Critical Analysis of Efficiency Market Hypothesis Essay

In this essay, firstly, the Efficient Market Hypothesis (EMH) is given an appraisal in relation to random walk, as well as its definition, revealing theories in context of empirical evidence. A brief explanation of the 3 forms of EMH is highlighted alongside a brief description of its tests for validity. The main focus of discussion is whether or not Technical & Fundamental Analysis can determine abnormal returns by investors strategically using a set of information to formulate buying and selling decisions to beat the efficient market. (Graphs and sets of equations may be applied). Following general empirical studies, the theory of Efficient Market typically asserts that, it would be impossible to consistently outperform the market by means of technical & fundamental analysis, consequently, in the light of this assertion, technical, fundamental and other anomalies are revealed that may suggest some levels of market inefficiencies. Finally, a conclusion, subjectively underlining the relevant points expressed above, putting to perspective facts conveyed through the topic of critical discussion. Appraisal of the Efficient Market Hypothesis and Random Walk The efficient market hypothesis is a financial theory widely accepted by most academic financial economists. It was generally believed that securities markets were extremely efficient in reflecting information about individual stocks and  about the stock market as a whole. The accepted view was that when information arises, the news spreads very quickly and is incorporated into the prices of securities without delay. Thus, when the term ‘efficient market’ was introduced into the economics literature in the 1960s , it was defined as a market in which prices at any time â€Å"fully reflect† and ‘adjusts rapidly to new available information’ (Eugene F. Fama, 1970, p 383.). In the context of this hypothesis, â€Å"efficient† empirically, means that the market is capable of quickly digesting new information on the economy, an industry, or the value of an enterprise and accurately impounding it into securities prices. In such markets, participants can expect to earn no more, nor less, than a fair return for the risks undertaken, hence failing to provide abnormal returns. Random Walk, is a Theory closely associated with the efficient market hypothesis, was originally created by Louis Bachelier (1900), and developed by Kendall, in 1950s. Kendall (1953) found that stock and commodity prices follow a random walk. Random walk varies with regard to the time parameter. According to capital markets theory, the expected return from a security is primarily a function of its risk. The price of the security reflects the present value of its expected future cash flows, which incorporates many factors such as volatility, liquidity, and risk of bankruptcy. However, while prices are rationally based, changes in prices are expected to be random and unpredictable, because new information, by its very nature, is unpredictable. Therefore stock prices are said to follow a Random Walk. Versions of the Efficiency Market Hypothesis and tests Following the concept of information, as stated in the above paragraph, it is useful to distinguish among three versions of the EMH, Fama (1970) identified as: the weak, semi-strong, and strong forms of the hypothesis. These versions differ by their notions of what is meant by the term â€Å"all available information.† The tests for each form, summarized in brief, empirically shows evidence in favor of EMH: According to Fama (1970), Weak form efficiency claims that all past prices of a stock are reflected in today’s stock price. Therefore, technical analysis cannot be used to predict and beat a market. The Weak Form Tests. The test of the weak form of the EMH is generally taken to comprise of; an autocorrelation test, a runs test and  filter rule test. An autocorrelation test investigates whether security returns are related through time. On the other, a runs test, for example, measures the likelihood that a series of two variables is a random occurrence. A filter rule (or trading test) is a trading rule regarding the actions to be taken when shares rise or fall in value by x%. Filter rules should not work if markets are weak form efficient. Overall, the tests highlighted, statistically tests for independence, to establish the weak-form holds, thereby invalidating strategic rules for technical analysis, to obtain abnormal profits. Following the weak-form EMH, is the Semi-Strong form efficiency in which Fama (1970) states that security prices reflect all publicly available information. The Semi-Strong Test. Tests for the semi-strong, significantly and reveals Event Study. The first event study was undertaken by Fama, Fisher, Jensen and Roll (1969), though the first to be published was by Ball and Brown (1968). An event test analyzes the security both before and after an event, such as earnings announcements, stock splits and analyst’s recommendations. The idea behind the event test is that an investor will not be able to reap an above average return by trading, on an event including the Fundamental Analysis strategy.

Essay on The Chief in One flew over the Cuckoo’s Nest by...

One Flew Over the Cuckoo’s Nest Critical Essay One flew over the Cuckoo’s nest, written by Ken Kesey in 1962 is a gripping multidimensional novel, set in an Oregon Mental Institution set deep in the countryside. The novel is narrated by an American half-Indian known as the â€Å"Chief†, who is a seemingly deaf and dumb patient with Paranoid Schizophrenia. By choosing Bromden as the narrator instead of the main character McMurphy, Kesey gives us a somewhat objective view, as its coming from only one perspective. The story comes from Kesey’s own experiences working on the Graveyard shift as an orderly at a Mental Institution, where he witnessed the Bureaucratic workings of the Institution and looks at the struggle for Power and Control†¦show more content†¦This pun serves a greater metaphorical purpose, as Ratched manipulates the patients and twists them to spy on one another or expose each other’s weaknesses in group sessions. The ratchet is also like a ratchet wrench she uses to keep her patients ‘adjusted,’ this entrance further reinforces that she hold all the Power and Control on the ward for now at least. The Imagery of the machine is introduced early in the novel, through the character of Chief Bromden, and it recurs at regular points throughout the book, he sees society as a giant machine, which he calls the Combine, and he sees the same machine at work on the ward in the form of what he describes as the Big Nurse in machine-like terms. In the first chapter, as he sees her approaching the black boys, â€Å"she blows up bigger and bigger, big as a tractor, so big I can smell the machinery inside the way you smell a motor pulling too big a load†. He describes her physical appearance in terms that could be applied to machines her face is smooth, like a porcelain doll,Show MoreRelatedOne Flew over the Cuckoos Nest - Analytical Essay811 Words   |  4 PagesEssay – One flew over the Cuckoo’s nest. Ken Keseys One Flew over the Cuckoos Nest is a creation of the socio-cultural context of his time. Social and cultural values, attitudes and beliefs informed his invited reading of his text. Ken Kesey was a part of The Beat generation and many of their ideologies and the socio cultural context of U.S post WWII were evident through characters and various discourses throughout One Flew over the Cuckoos Nest, giving us his invited reading. Ken Kesey is againstRead MoreKen Kesey s One Flew Over The Cuckoo s Nest1629 Words   |  7 Pages1962, Ken Kesey’s One Flew Over The Cuckoo’s Nest is a timeless classic. This novel has been subject to analysis through many different literary lenses: feminist, Marxist, and of course, psychoanalytic. One Flew Over The Cuckoo’s Nest provides a plethora of evidence when it comes to using the psychoanalytic lens. The lens in question deals with the teaching of Sigmund Freud. When reading this novel, the audience sees quite clearly that the world of psychology plays an impactful role in One Flew OverRead MoreSexism/Racism in One Flew over the Cuckoos Nest1542 Words   |  7 Pagesand Foremost, i must Explain this, I payed little attention to the novel and movie, but this Essay will more then likley get you a C or a B, Depending on if you make changes to the paragraph that starts with The portrayal of woman in One Flew over the Cuckoo’s Nest is in a way, a role reversal. The Woman are strong, leaders and feed off the power they possess as the men are weak, passive-non aggressors who get ordered around and (until the introduction of McMurphy) have no say in what activitiesRead MoreOne Flew over the Cuckoos Nest: the Power of Laughter1592 Words   |  7 Pageslaughter; which, inevitably, denies him of his freedom. Ken Kesey conveys the idea that laughter and freedom go hand in hand throughout his novel One Flew Over The Cuckoos Nest. Kesey portrays laughter as a parallel to freedom through various literary symbols and imagery in order to illustrate how the power of laughter can free a man who is under the control of an unjust authority. Through the characterization of Nurse Ratched and McMurphy, Kesey illustrates how the manipulation of others and the challengeRead MoreGeorge Orwell s One Flew Over The Cuckoo s Nest2635 Words   |  11 Pages3 Humanities V 4/17/2015 Defending Controversial Novels Essay Draft Kesey Flew East, His Critics Fly West: They’ve All Missed the Merit in the Cuckoo’s Nest â€Å"There s something about taking a plow and breaking new ground. It gives you energy† (Kesey qtd. in Sova 244). This energy, however, comes with a cost, as demonstrated by Kesey’s revolutionary novel One Flew over the Cuckoo’s Nest. In the process of writing the book, Kesey embarked with ambitious goal of ultimately reshaping American society’sRead More McMurphy is Not a Christ Figure in Ken Keseys One Flew Over the Cuckoos Nest1329 Words   |  6 PagesMcMurphy is Not a Christ Figure in One Flew Over the Cuckoos Nest      Ã‚  Ã‚   Literary fiction is littered with references to Christianity. It is very obviously a large and influential force in the western world so it is hardly surprising that a novel such as One Flew Over the Cuckoos Nest, which is so questioning of our society and moral values, should be so full of references to what is arguably the basis of these values. What the question asks, however, is if the character of McMurphyRead MoreThe Counterculture Of The 1960s From The Anti Authoritarian Engagements Of Preceding Decades1132 Words   |  5 PagesJohn Lennon, member of The Beatles and a model hippie, once said, â€Å"When it gets down to having to use violence, then you are playing the system’s game.† Ken Kesey was a big believer is this notion and used his writings as a way to introduce people to this concept. Through the use of a 1950s mental ward, Ken Kesey’s One Flew over the Cuckoo’s Nest draws inspiration from both the philosophy of Beat cult ure and the personal life experiences of the author. The novel’s setting reveals not only the devastatingRead MoreGender Issues in One Flew over the Cuckoos Nest Essay examples736 Words   |  3 PagesA.P. English A 8/24/07 Reoccurring Gender issues in One Flew over the Cuckoos Nest One of the major themes expressed in Ken Keseys One Flew over the Cuckoos Nest is gender role reversal. Stereotypically speaking males are hardened authoritarians and women are passive non-aggressors. In One Flew over the Cuckoos Nest these roles are inverted, showing the inhumane, chaotic world of a mental institution. Nurse Ratched, Mrs. Bibbit, and Vera Harding, are the three main power figures of theRead MoreOne Flew Over The Cuckoo s Nest Essay1604 Words   |  7 Pages The Truth Even If It Didn’t Happen: One Flew Over the Cuckoo’s Nest By: Aubree Martinez Period 1 One Flew Over the Cuckoo’s Nest by Ken Kesey is one of the greatest novels of the 1960s that expertly uses mental illness, rebellion, and abused authority to captivate the readers. This book is densely populated with interesting characters, such as the new admission R.P. McMurphy, that makes you dive below the surface of sanity, rebellion, and authoritative issues that are spread throughoutRead More One Flew Over the Cuckoos Nest Essay860 Words   |  4 Pages One flew East, One flew West, One died without a part of his brain. In my opinion the main theme of One Flew Over the Cuckoo’s Nest is conformity. The patients at this mental institution, or at least the one in the Big Nurse’s ward, find themselves on a rough situation where not following standards costs them many privileges being taken away. The standards that the Combine sets are what makes the patients so afraid of a change and simply conform hopelessly to what they have since anything out

Probation and Punishment Essay - 674 Words

Is Kris able to come back to society after probation? Kris Young is 25 years old, and got into some trouble at age 13and received probation for a case involving battery. While Kris was on probation he was arrested for criminal trespass and he had received additional probation time. Some of my results from the file review did not match Roberts. Two views in which Robert and I had the same were giving Kris and extension for probation period beyond the original two years. Because Kris fail to pay his fine amount within the stipulated period and was giving the extension so that he will have time to pay off his fine. Another view in which was the same was Kris having a successful completion of his probation was the same, because he got†¦show more content†¦Probation reports and recommendations remain in your court file forever, although they are kept confidential from the general public without a court order. The majority of criminal cases are resolved by way of a plea bargain. Plea bargains (also known as negotiated dispositions, p lea agreements, or deals) involve the defendant entering a plea of guilty (or no contest) to one or more charges, usually lesser charges, in exchange for a promise of a substantially reduced sentence. But even when the prosecutor and the attorney cut a deal, sentencing is always decided by the court. Sometimes, a client will go to trial and be found guilty of one or more of the charges. This, too, may involve lesser charges to those of which he or she was originally accused. When either of these things happens, either a plea bargain or a guilty verdict, the defendant is referred to probation by the court, because the judge usually does not know enough about the defendant or the nature of the offense to make an informed and intelligent decision about the sentence. When the client is referred to probation is when the probation officers work begins. The PO conducts an investigation, prepares a report, and makes the recommendation as to what the judge should do at sentencing. As mentioned earlier, the court is free to follow the recommendation contained in the report, or deviate from it, but the report and recommendation is alwaysShow MoreRelatedProbation And Punishment Essay examples692 Words   |  3 Pagesï » ¿ Probation and Punishment In review of Kris’ file, I learned that Kris had been in trouble in the past, as a juvenile, Kris was arrested both for battery and trespassing and now as an adult Kris has been arrested for theft. Kris, now a married adult is looking to â€Å"start over and have a life outside of crime. In review of Kris’ probation paperwork, I do agree with Robert’s decision for thoughts for the most part. I agree with Robert in the fact that Kris needs an intensive probation programRead MoreProbation and Punishment Final Essay1145 Words   |  5 Pagesï » ¿ Probation and Punishment Xavian Deniz Introduction to Criminal Justice Prof. Robert Hammes Law and order are two words that keep our society from collapsing on its self. We the American people have our freedom to do what ever we want; we can purse any career, go down to your favorite restaurant and order whatever you want. We have these freedoms because people fought for them many years ago, so that we wouldn’t be under rule or dictatorship. Many people take our freedom for grantedRead MoreThe Punishment Mechanisms Of Probation And Parole Essay1844 Words   |  8 PagesThe punishment mechanisms of probation and parole developed from different social circumstances, which were driven by the need for alternative means to imprisonment. The creation of the mechanisms for probation can be linked to the moral panic caused by the excess consumption of alcohol and the increased amount of alcohol-related offences. In contrast, the development of parole was the result of the systems at the time, failing to deliver the expected results. This essay will outline the differentRea d MoreThe Punishment of Probation- A Proposed Solution to the Prison Overcrowding Problem in England885 Words   |  4 Pagesbecomes more of a problem in today’s society the government are coming up with new punishments which will help to reduce the overcrowding within the prisons. One of these new punishments is probation, this is a sentence which is been imposed by court and given to the offender either after the offender has served their sentence in prison or not at all. Within this essay, the focus will be to explain if the probation service is either soft or a hard option whilst covering three concepts to see whatRead MoreEssay about Crj 100 Week 10 Assignment 3 Probation and Punishment746 Words   |  3 PagesCRJ 100 Week 10 Assignment 3 Probation and Punishment Click Link Below To Buy: http://hwcampus.com/shop/crj-100-week-10-assignment-3-probation-and-punishment/ Or Visit www.hwcampus.com ssignment 3: Probation and Punishment In preparation for this assignment, please complete all required readings and activities in Weeks 8 through 10 in Unit 3: Corrections.WRITE MINUMUM 4 SENTENCES FOR EACH PARAPGRAPH. PROVIDE ORGINAL WORK. WRITE THEM ON YOUR OWN WORDS. GONNA USE TURNITIN TO CHECKRead MoreDefinitions Of Probation And Probation Essay956 Words   |  4 PagesClassifications of Probation According to the Bureau of Justice Statistics, at year end of 2012, more than 4.7 million adults were under some form of community probation in the United States (Bonczar and Maruschak, bjs.gov). With so many adults on probation, one could only ask how they all are supervised. With the criminal justice system already bursting at the seams with offenders, its main objective is to keep offenders out of this already exhausted system. Probation, also called intermediateRead MoreAccredited programme requirements were created from the Criminal Justice Act 2003 but in order to1300 Words   |  6 PagesJustice Act 2003 but in order to understand how this came to be it is significant that the history and political context of the probation service is understood. The Probation of Offenders Act was established in 1907 and under this act the release if offenders into the community under the control of probation officers were made official. The primary aim of the probation was made clear under this act which was to advise, assist and befriend and it continued that way until 1970’s. During this periodRead MoreThe Issue Of Criminal Law1495 Words   |  6 Pagesdetails and the reason that why we need to have some criminal law or laws and why there are so many different laws for different kind of criminals? Probation: Probation is chance to live in your own community by obeying some rules we will discuss what is the history of probation and what kind of importance does it have for society The job for probation and parole officers: It describes what kind of job do these officers have and what rules and responsibilities they have to follow. Criminal Law:Read MoreThe Incarceration Of The Correctional System1193 Words   |  5 PagesThere are many options a judge might choose as punishment or rehabilitation for an offender other than having the offender complete his or her whole sentence in jail or be sent to jail or prison all together. Some options the judge might decide to use are parole, probation, community correction, and many other forms of sentencing him or her might hand down to an offender. There is always a better solution to the current methods of parole process, probation system, and the community corrections optionsRead MoreThe Importance Of Probation And An Offender From Detention Based Upon Good Behavior1603 Words   |  7 PagesIntroduction The idea of probation refers to the release of an offender from detention based upon good behavior. Probation, itself, is the process in which offenders are monitored by officers in an attempt to correct their behavior and prevent further offenses. This process, however, is centered on the idea of changing cognitive processing toward crime, to implement operant conditioning and to manipulate social learning, all of this relating to a psychological lens. Using these separate techniques

Co-Cultures in a Multicultural Society Paper - 1314 Words

Co-Cultures in a Multicultural Society Paper The movie Fools Rush In is a great example of how gender as well as cultural differences can hinder communication in a multicultural society. Fools Rush In is about two people, Alex and Isabel, who come from two different cultural backgrounds who after a one night stand become pregnant and decide to get married. However, along with the marriage come compromises that include cultural traditions and personal sacrifices. The movie is a comedy but can also be viewed as romantic and shows how two people who love each other can resolve the issues of cultural and gender differences. Male and female differ in their use of communication because their reasons for communicating are different. Men†¦show more content†¦This is why during the meeting of Isabel’s family Alex is having a hard time understanding the Mexican American way of life and causes a stir during the family dinner by his mistakes. Common miscommunication among genders is misunderstandings, a woman may assume th e man is not listening and a man may think his words are being twisted and taken out of context. Modern men and women by contrast are under the illusion that they speak the same language, though the words they use may be the same their meanings for each sex may be different (Cameron, 2007). Specific examples of some of these miscommunications, the underlying message, a female expects for a man to read between the lines of her words and understand what she is trying to say without her telling him. During the scene where Isabel clearly wants Alex to admit he loves her and wants to make the marriage work, she throws out these signals and expects for Alex to know what she wants when he is clearly confused and thinks she doesn’t want to be with him by her actions. The movie Fools Rush In also highlights the different types of conflict that occur in a multicultural society. The movie showed the conflict of interest, value conflict and goal conflict that went on between Alex and Isa bel. The movie also touched on the different types of gender conflict that happen in a relationship between a man and a woman. The male style of communicating is more direct, personal and instrumental whereas the femaleShow MoreRelatedDiversity Issues in Career Counseling Essay755 Words   |  4 Pages Abstract This paper will give a brief overview of how bias, assumptions and diversity can impact the career counseling relationship. The impact of values, bias, and the ability to move beyond barriers in the counseling relationship is essential to successful outcomes in working with clients. The rationale for the appropriateness of multicultural counseling competency and the impact of culture in the counseling process will be discussed as will multicultural counseling in the frameworkRead MoreMultilingual Outreach : An Experiment On Success Essay1253 Words   |  6 PagesCourse 12/17/ 2016 Final Paper Multilingual Outreach in Multicultural Societies: An experiment on success Communities that are separated by race, ethnicity, culture, and identity are apparent across the globe. Being able to bring those communities together is necessary and a prominent problem. Multilingual societies face an extra hurdle with the divisive nature of speaking different languages. Is reaching out in a multilingual fashion an effective method to bring two cultures together? This articleRead MoreThe History of Multicultural Education Essay1333 Words   |  6 PagesRights Movement. Although the term â€Å"multicultural education† had not come into play yet, the idea that the U.S needed to reexamine their efforts of educating diverse groups was emerging. During this time inequality especially among minority groups in comparison to the white dominant culture became a social issue (Banks 1999). Before the arrival of this reform multicultural education was displayed in the classroom as having minorities adapt to the predominant culture. Teachers during this time felt itRe ad MoreThe Diversity Of A Multicultural Organization1224 Words   |  5 PagesThe multicultural organization Historically, diversity in the workplace was seen as an employment equity issues. As the years passed by, it all changed. The surge of globalization has needed the collaboration among people of different backgrounds and cultures. Nowadays, organizations are now creating a diverse workforce beyond just gender, race, ethnicity, and nationality. Many U.S. organizations are embracing women, ethnic minorities, and foreign-born employees more than ever before in historyRead MoreMichelle Julia Anderson- 250848884. 2230E- Erin Orr. Tuesday,1329 Words   |  6 Pagessince its establishment 40 years ago. Much of Canadian society is reflective of different cultures from around the world making multiculturalism a very relevant topic to Canadians. While it can be argued that the majority of Canadians are in favor of multiculturalism, there are some who hold a different opinion. Though some critics claim that multiculturalism promotes a form of ‘hyphenated Canadianism’ that exacerba tes divisions in Canadian society based on such characteristics like ethnic, minorityRead MoreProcess Pl Multicultural Competence1689 Words   |  7 PagesProcess Plan Summary Paper Multicultural competence is the ability to interact effectively with people of different cultures. There are four major components present when discussing multicultural competence: (1) the individual (me) must be aware of one’s own cultural views, (2) know ones attitude towards cultural differences, (3) Knowledge of different cultural practices and worldviews, and (4) having cross-cultural skills (Adapted from class 2 and 3 definitions handout, as adapted from Pope, R.LRead MoreMulticulturalism And Polyculturalism From The Novel I Hotel Essay1387 Words   |  6 Pagespolyculturalism. Well multiculturalism is the co-existence of diverse cultures, where culture includes racial, religious, or cultural groups and is manifested in customary behaviors, cultural assumptions and values, patterns of thinking, and communicative styles. On the other hand polyculturalism is a term for an assertion that all of the world’s cultures are inter-related. Polyculturalism implies that all cultures are fully embraced with full approval from society. 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Auditing Theory and Practice for Coca Cola Amatil - myassignmenthelp

Question: Discuss about theAuditing Theory and Practice for Coca Cola Amatil. Answer: Introduction This study encompasses real case example of Coca Cola Amatil, which is one of the largest company in Australia and has been operating since 1904. With global presence, the company is the worlds largest bottlers as well as distributors of the Coca Cola beverage range, which is operated, especially in the Asia Pacific region. The company has been constantly improving and adapting to the changes in the international market conditions (Coca Cola Amatil, n.d.a). The company aims to deliver shareholders returns, sustainably along with the availability of various facilities in production, warehouse and wide product range (Coca Cola Amatil, n.d.b). The objective of this particular study is to illustrate the significance of audit planning for a large company such as Coca Cola. The detailed understanding of the real issues that may be faced by the company, while auditing is also covered in this assignment. Furthermore, the key risk factors inherent in nature were identified, so that the impacts of the audit on the company could be analyzed. Thus, with the help of this, appropriate audit objectives to avoid such risks were also indentified considering the auditing theories and practices of the company. In the later part of the study, the impacts of identified risks on the nature of audit evidence mix were examined in relation to the company. Moreover, the evidence mix consists of five key elements namely tests of control, tests of balances, tests of transactions, analytical procedures and understanding internal control. Identification of the Key Inherent Risk Factors Risk and Its Possible Impacts 1. What is the Risk? Considering Coca Cola Amatil (CCA), particularly auditing perspective was taken into consideration, wherein its key risks were identified, which could have an impact on the future audit proceedings such and all the activities related to it. As per the requirements, the potential misstatements that are evident while conducting the auditing procedures are done under the principles set up by the Australian Accounting Standards Boards (AASB) and ASX standards in compliance with Corporation Act 2001. It has been complying with the accounting, financing and auditing standards, thereby facilitating continuous disclosures under the ASX listing rules and regulations as well as Corporation Act 2001 (Coca Cola Amatil, 2016). As per the requirements, the company reviews its practices on a regular basis in order to enhance the overall performance. This involves the key governance policies such as corporate governance, charters, various codes and policies and constitution (Coca Cola Amatil, n.d.c, CCA, 2016c). The four critically inherent risks that are highlighted in the case of Coca Cola Amatil were interest risks, market risks, financial disclosure risks and operation and control risks. Apart from these risks, there were tax risks as well, such as increase in the rate of income tax or changes in tax laws would have adverse effects on its financial results. Although, it is believed that the estimates of the company were reasonable however, tax audits have been undertaken frequently to avoid any kind of misrepresentation in the reports as per the Audit Committee (SEC, 2015). Therefore, to mitigate these risks, it ensured to maintain tax transparency in the field of auditing, financing and accounting disclosures in its financial reports (CCA, 2016b). 2. Why is it a Risk? The principle accounting policies and estimates that Coca Cola Amatil followed was principles of consolidation, recoverability of current and noncurrent assets, income tax, pension plan valuation and revenue recognition. Wherein, the company made its disclosures with the support of its Audit committee. The assumptions/estimates were made based on the critical analysis of the current as well as future events and actions. The company also uses financial instruments, which are derivative in nature to reduce the effects of exchange rates of foreign currency, commodity prices, interest rates and other market risks (SEC, 2015). In order to mitigate the impacts and manage the risks that may be faced by the company, a risk management policy passed in the year 2011 that would significantly help in overcoming the same. Its key objective was to manage and forecast the risks. This policy was made in compliance with the Principle 7 under the ASX standards relating to the corporate governance and best practices. This in turn, shall increase trust among the public and attract more shareholders. The company further utilized integrated risk analysis technique to evaluate the risks, thereby increasing its opportunities, which would enable it to competitive advantage. Correspondingly, Audit and risk committee was formed, which ensured that there were no flaws in the financial reporting, thereby ensuring transparency, integrity and balance of disclosures and relevant information. This committee also assured internal control to maintain the effectiveness of the company and conducted internal and external auditing, so that it can satisfy internal auditors and facilitate the process of independent auditing. In addition, external auditors performance was also aimed to assess the risks by complying with the auditing standards (CCA, 2017). In response to the inherent risks of tax and policy changes along with the other involved risks, the company had a committee charter to address the auditing and financial risks. This charter was responsible for reviewing the financial statements issued, which also focuses on making the required recommendations. It has been successfully covering all the risks with the assistance of various policies regarding business planning, business conduct, disclosures, environment, asset protection, fraud plan, occupational safety, purchasing, treasury, water and whistle blower protection (CCA, 2011). Thus, it can be opined that it has been systematically handling financial and disclosure risks. 3. Appropriate Audit Objectives Additionally, the company also had the intension to eradicate the operational and control risks that might exist. There were risks related to treasury that was faced by the company, which included borrowing and currency aspects. Another prominent risk was related to sustainability and economic conditions along with various situations that aroused in the global market. In addition, it also involved risks related to material business. The primary business risks included macro-economic factors, geopolitical risks, occupational safety/health issues and regulatory changes. Hence, to have an equal share in the risks and reducing its impact has been collaborating with partners. Especially in the context of Australia, the company was facing the issue of decline in the overall earnings with respect to Sparkling Soft Drink category as well as in Indonesia and New Zealand. This ultimately resulted from the wellness and health concerns of the customers, wherein the public were becoming more heal th conscious and avoided the consumption of artificial ingredients and sugar. This resulted in shifting their tastes and preferences to low calorie products especially in the developed countries (CCA, 2016a). Therefore, with respect this case, there has been the risk of market changes in which the existing and potential customers changed their preferences, thus posing threat to the company. To tackle all these situations and emerging competition in the global market, the company aimed to be more cost-competitive. To mitigate the business risks, the company had effectively implemented the OHS framework keeping into consideration the nature of activities that took place in the company, in order to overcome accidents that might occur. Thus, with the help of regular reviewing, the management processes and policies are focused on addressing these issues. Furthermore, external auditing was also done for covering other risks such as utility disruptions and natural disasters (CCA, 2016a). Thus, there may be certain appropriate audit objectives for future considerations, as there is a possibility of increase in its leverage due to the result of pressures that was faced by the company from its wholesale customers. The company must maintain its policies according to the requirements of the shareholders, so that they can be easily attracted in the larger numbers, as compared to its current numbers. There is also a possibility that the company can have structural changes. The position of CCA has also been less secured in case of carbonate beverages as per the Australian market, which was mostly due to the changes in the preferences of the consumers of beverages as well as the increase of the bargaining power of the wholesalers. These were acting as a risk for the company which resulted in lower earnings and growth. Thus, it was noted that the financial results for the year 2017 was weak as per the rating that was provided. Therefore, the company must focus on putting more effort on its rating methodologies while auditing along with increasing the verifiability of its accounting and financial disclosures in the annual reports and other relevant documents (Staff, 2017). Understanding the Audit Evidence Mix The Audit evidence mix is a technique that is used to get the audit evidence extracted from the integration of substantial procedures and tests of control, which are intended to be obtained by the auditors to select the audit options. The test of control includes tests that are performed in order to obtain the audit evidences. Consecutively, the substantial procedures included test that were performed to detect the misstatements in the material information of the company. This was designed for suitable and effective operations of the internal control and accounting systems. These included tests of details of balances and transactions along with the analytical procedures of the financial statements. Therefore, companies must have pre-determined procedures to obtain the required Audit evidences. The basic procedure to be followed was conducting inspections, then after the results must be observed. Furthermore, inquiry must be done with confirmation, which is then followed by analytical procedures that must be carried along with computation (Accounting Financial Tax, 2009). The inspection must be done basically regarding the tangible assets of the firm along with its previous records and documents. The observation must be done by the auditor and inquiry must be carried forth to gather information regarding all the aspects of the audit evidence. After all these processes, confirmation must be presented as a written response form a third party after verification. In addition, computation involves authenticity and accuracy of the information collected through recalculation and re-performance. Subsequently, the analytical procedures include comparing financial information with the generated information, other anticipated results such as budgets in an industrial basis. Furthermore, the relationship between the non-financial and financial information is examined. All these information generated are critically analyzed to obtain sufficient and appropriate audit evidence mix. Considering these necessities, it must be complying with the international standards f or auditing. This ensured proper compliance of material aspects with the requirements of essential procedures and basic principles under the International Standard on Auditing 500 Audit Evidence (Accounting Financial Tax, 2009, HKICPA, 2017). With particular reference of the risks that were apparent in the company, Coca Cola Amatil, the impact of individual risks on the evident mix was examined. Various risks were already mitigated with the help of the risk framework used by the company. Additionally, the management department and moreover financial audit was done internally as well as externally, which was one of the important phases of its accounting and financial reporting. The material risks such as exchange rates, price changes and similar issues can be mitigated with the support of appropriate evidence mix, which will enable the engagement of financial audit, thereby generating evidences for audit collection. Thus, this will eliminate any chances of misstatements and helps in managing the material business risks (CCA 2016). With proper audit evidence mix usage, the current risk it was facing can be mitigated, as the company will ensure proper representation of the facts and figures. This in turn shall reduce the pos sibility of any risks because the company shall built trust among the investors and shareholders with no red flags or misstatements in the accounting and financing reports regarding disclosures as per AASB and ASX standards. Furthermore, conducting proper tests and using assertions while obtaining the audit evidence during the audit procedures must be systematically and critically facilitated to reduce the possibility of any risks (AUASB, 2013). Therefore, for the purpose of monitoring such risks, the companies require to establish a risk assessment report as per Corporations Act 2001, which assists in effectively manage the possible financial risks through insurance, contracts or currency swaps (Austlii, n.d.a, Austlii, n.d.b). Conclusion In an overall basis, conclusions can be drawn that considering all the risks, the key inherent risks factors affected the performance of Coca Cola Amatil and accordingly shall have an impact on its future audit and its planning. However, understanding the concept of Audit evidence mix, the effect of the risks that the company was facing especially was the change of tastes and preferences of the customers, which require to be mitigated. This was the greatest concern for the company therefore, with initially improving the product lines according to the demands. This will thereafter, accordingly plan out the changes in the audit evidence mix. Furthermore, by forecasting the requirements during the procurement of raw material procurement and manufacturing helps in maintaining the quality of information and disclosure. References Accounting Financial Tax, 2009, Audit evidence, Home, viewed 22 September 2017, https://accounting-financial-tax.com/2009/10/audit-evidence/. AUASB 2013, Auditing standard ASA 500 audit evidence, Auditing and Assurance Standards Board, pp. 1-20. Austlii, n.d.a, Corporations Act 2001 - SECT 763C when a person manages financial risk, Commonwealth Consolidated Acts, viewed 22 September 2017, https://www.austlii.edu.au/cgi-bin/viewdoc/au/legis/cth/consol_act/ca2001172/s763c.html. 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