Sports Memorabilia A True Hobby Essays - Ephemera, Collecting

Sports Memorabilia a True Hobby As he took care of business, he delved his privilege back foot into the earth getting a firm position. Much to his dismay that the ball given to the umpire before the game which cost only nine dollars and now coming at him would have been worth a little over 2.7 million dollars like a flash. Imprint McGwire is really a motivation behind why an individual can bring in cash, gain reputation and have some good times while gathering memorabilia. Bringing in cash through customary employments is a certain something, bringing in cash by gathering sports memorabilia is totally another. On the off chance that one needs to bring in cash gathering sports memorabilia, one must show restraint since gathering memorabilia isn't an easy money scam. Two fundamental reasons why the estimation of sports memorabilia increments are the progression of time and the accomplishments of the competitors. One approach to get these things before they increment in esteem is to go to free signature marking meetings. Another route for one to bring in cash is to keep in touch with a competitor and get something finished paperwork for nothing, at that point pivot and sell it. One case of this is Vince DeAngello who begun this procedure when just a child and now possesses an extremely effective games memorabilia shop. I have by and by got memorabilia through letters to competitors; I have seen their worth ascent, at that point I have offered them to a ga mes memorabilia look for a benefit. Perhaps the most straightforward approaches to bring in cash by gathering memorabilia is to follow youngsters and get as much marked by them as possible. This is exceptionally helpful on the grounds that freshmen don't for the most part charge for their marks. Additionally, as a first year player, new kids on the block are increasingly anxious to sign signatures so they can establish a great first connection. Not exclusively would one be able to bring in cash by gathering sports memorabilia yet one can likewise be viewed as a legend according to people in general. By gathering memorabilia, one can increase open acknowledgment moreover. For instance, the individual who purchased Mark McGwire's seventieth grand slam ball for $2.7 million unquestionably increased open acknowledgment. Any individual who gives a bit of their assortment of memorabilia to a games lobby of popularity, for example, the Baseball Hall of Fame in Cooperstown, New York, will get a lot of open praise. Such acknowledgment was given to the Rotary club who a year ago gave George Brett's pine tar bat to the Rockhurst Spectacular. The resigned Royals reliever Jeff Montgomery is otherwise called an incredible sponsor to numerous altruistic associations. Thought about a legend to numerous little youngsters, Cal Ripken Jr. is referred to for his eagerness to sign the same number of signatures as are mentioned both when games. A few people increase open reputation by including memorabilia inside their homes or business. I have gained notoriety for the measure of memorabilia I have in my home. Previous baseball star Danny Jackson, proprietor of the Incredibowl attracts individuals to his business not exclusively to bowl, yet in addition to look at his immense assortment of sports memorabilia. With the entirety of this cash and popularity, we regularly overlook how fun, gathering memorabilia can be. The fun of gathering sports memorabilia can take numerous ways, shapes and structures. It is enjoyable to meet star competitors and get signatures to add to your assortment. One can likewise appreciate exchanging and gathering with individuals of comparable interests. Not exclusively does this pleasant stop by exchanging, yet additionally by viewing your venture rise. My companion Brad Long was blessed enough six years prior to put $500 in a marked Mark McGwire pullover, which currently merits a few thousands. I have additionally been advantaged to watch my Joe Montana football go up in esteem. Sports memorabilia has carried numerous incredible long periods of joy to my life, and others. I have a fabulous time brightening rooms of my home with sports history. My neighbor and companion Jamie Quirk has likewise motivated me by giving me his rooms of fun with unending memorabilia. All in all, by gathering sports memorabilia an individual can bring in cash, gain reputation and have some good times. A decent aspect regarding gathering sports memorabilia is the likelihood that a saint can rise whenever, appearing from

Same Sex Marriages Essays - LGBT History, Same-sex Marriage

Same Sex Marriages Essays - LGBT History, Same-sex Marriage Same Sex Marriages 11/23/98Same-Sex Marriages(Should it be permitted? Should it include kids?) If a man lies with a man as one lies with a lady, them two have done whatis terrible. They should be executed; their blood will be their responsibility.- Leviticus20:13. Do you not realize that the devilish won't acquire the realm of God? Do notbe bamboozled: ......homosexual offenders.....will not acquire the realm of God.- 1 Corinthians 6:9-10. Try not to lie with a man as one lies with a lady; that isdetestable.- Leviticus 18:22. As per the Bible same-sex relationships would be shameless and wicked. Beinggay and adoring someone else is positively not unlawful, yet joining that couple in marriage isnot just dismissed by the greater part of society yet in addition by Judaism, Christianity and Islam. As aChristian I discover same-sex relationships unsuitable, yet I realize that not all individuals accept inthe Bible and we do have opportunity of religion in the US . Courts in Hawaii would not permit same-sex relationships and that is presently beinglooked at as unlawful. Not permitting the relationships oppresses certaingroups that are United States residents and that is illegal. Despite the fact that I dont support of same-sex relationships, as indicated by our laws there isreally no motivation behind why the relationships shouldnt occur. In any case, I do think there should belimitations. Relationships of the equivalent sex ought not include youngsters. There is no naturalway that two individuals of the equivalent sex might have offspring of their own and shouldnot be given authority of a kid or the capacity to embraced a kid. Senator Wilson, California republican is proposing to boycott Second-parentadoptions, which in the past have been endorsed. These guidelines would require maritalstatus to be given to the Department of Social Services. I don't accept that gay guardians will make such a kid be gay. In any case, all thingsbeing equivalent, I do accept that kid is being denied of s ignificant, fundamental two-sexingredients basic in child rearing. That it takes a man and a lady to deliver that thirdperson is the most fundamental verification that a youngster needs both a mama and a daddy. Youngsters who have guardians of the equivalent sex would be intolerable irritated by otherchildren and thought about a pariah. An honest youngster put in a circumstance that would beemotionally unpleasant for a large portion of their childhood there is no need. Simply envision what a childwould experience. Billy, which one of your fathers wore the dress in the wedding? orSuzy, which one of your mothers is going to the mother-girl excursion? Why put kidsin a domain that isn't ethically or socially worthy in todays society? Being gay ought to never bring about being bothered, abhorred or harmed. Yet, tragically, beinggay likewise should always mean being unable to wed or embrace. Everything in life has a price.Being childless is a significant expense. Be that as it may, a kid' s fundamental needs should consistently supplant the desiresof a grown-up. Youngsters should consistently precede self. Reference index :Blessed Bible (NIV) - Leviticus 18:22 - Leviticus 20:13 - 1 Corinthians 6:9Gay relationships ought to be permitted, state judge controls, The Wall Street Journal, Dec. 4, 1996.

Analysis of McDonalds Corporation Essay - 275 Words

Analysis of McDonalds Corporation (Essay Sample) Content: Analysis of McDonaldà ¢Ã¢â€š ¬s CorporationName:Institution:Course:Instructor:Date:IntroductionMcDonaldsà ¢Ã¢â€š ¬s Corporation is the largest hamburger fast food retailer in the world. The company serves about sixty-eight million clients on a daily basis in about one hundred and nineteen countries where it operates. The company has its headquarters in the United States. It began its operations in the year 1940. Richard McDonald and Maurice McDonald were the main managers. There was a reorganization of the business in which it became a hamburger stand. They applied production line principles in this reorganization. In 1955, Kroc joined the company as a franchise agent and later bought it. The move oversaw the global expansion of the business. The modes of operation of the business are as an affiliate, a corporation or franchise. By 2002, the annual revenue of the company was seven billion USD from rents, sales and fees from the franchise.This paper seeks to look int o the mission and the vision of the corporation. It will review the effect that these and the primary stakeholders have o the overall performance of the company. Secondly, the paper will analyze at least five sources of competition and the effects it has on the enterprise. Thirdly, this document will conduct a SWOT analysis of the business and outline various strategies that can be employed to maximize its strength and minimize its threats and weaknesses. Fourthly, it will discuss the types and levels of the strategies that the company can use to create awareness among the stakeholders. This paper will evaluate the governance mechanism used by McDonaldà ¢Ã¢â€š ¬s Corporation. It will also assess the effectiveness of the leadership of the company. Lastly, it will evaluate the efforts that have been made by McDonaldà ¢Ã¢â€š ¬s Corporation to stay ethically responsible.Impact of vision, mission, and stakeholders on the success of McDonaldà ¢Ã¢â€š ¬s CorporationMcDonaldà ¢Ã¢â€š ¬s C orporation has the mission of being the favorite place (a place where they can eat and drink) for its clients. The company has a global strategy to which its global operations are aligned. This procedure is known as Plan and Win. The plan is focused on extraordinary customer experience. The exceptional experience comes in the form of Price, Place, Promotion, Products and People. This is called the 5Ps. The business has a commitment to improving its operations continuously and to change the experience of its customers. McDonaldà ¢Ã¢â€š ¬s Corporation has a vision of being the best fast food retailer in the world. In being the best retailer, the company is geared towards providing quality services, value and cleanliness to its clients. Looking at its mission and vision, the can is capable of recording success. It provides everyone with a choice of its goods and services regardless of the background and culture. This is because it provides meat to those who love meat and vegetables to the vegetarians. Its mission of being the best employee is almost achieved as currently it the second largest employer after Walmart. It employs about nineteen million people. The business has also made its mission of being delivering exceptional customer experience by rolling out a global strategy dubbed Plan to Win. The companyà ¢Ã¢â€š ¬s vision of providing quality services and cleanliness has propelled it to success as its product are of high quality. This has contributed to high sales volume thereby increasing the profits of the company. The increased sales volume of the company has made it successful CITATION Har11 \l 1033 (Hartnell, 2011).A stakeholder refers any person who has an interest in the business or a company. The primary stakeholders at McDonaldà ¢Ã¢â€š ¬s are the employees and the management. They affect the processes and the outcomes of the company. Customers can also be considered as the stakeholders since without them there will be nobody to buy the goods . The management has played a significant role in ensuring the success of the business. For example, after McDonaldà ¢Ã¢â€š ¬s had acquired Boston and found it non-profitable and made a decision to sell it out. This is after the companyà ¢Ã¢â€š ¬s image was dented. The employees at McDonaldà ¢Ã¢â€š ¬s Corporation also play a crucial role in the realization of the success of the business. The employees have dedicated themselves towards the achievement of the enterpriseà ¢Ã¢â€š ¬s mission and vision thereby ensuring the success of the enterprise.McDonaldà ¢Ã¢â€š ¬s Corporation Sources of competition and impactsMcDonaldà ¢Ã¢â€š ¬s has been facing a lot of competition from different sources in the restaurant business. The completion has had an impact on the company. The primary competitors are Burger King, Wendyà ¢Ã¢â€š ¬s, Jack-in-the-Box, Subway, and Yum! However, Subway does not pose a significant threat to McDonaldà ¢Ã¢â€š ¬s Corporation. KFC is also another competitor. T he table below shows a comparison between McDonaldà ¢Ã¢â€š ¬s and it four major competitors.Source: Wall Street Analyst and company filings.By the end of 2013 finacial year, the Year-over-Year (YoY) sales for McDonaldà ¢Ã¢â€š ¬s was increased by 1.95% in comparison to its competitors who experienced a general decline the sales. Averagely, the five companies had a fall in the sales of about 9.18%. Wendyà ¢Ã¢â€š ¬s posted the highest upsurge in the same store sales that was about 1.8%. For the five companies, the average was 0.30%. McDonaldà ¢Ã¢â€š ¬s had the highest EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) margin with a margin of about 36% while the average was 28.2%. By that time, McDonaldà ¢Ã¢â€š ¬s posted a Price Earnings (PE) of 18.2x while Wendyà ¢Ã¢â€š ¬s and King Burger had 34x. The PEG (Price-Earnings to Growth) for McDonaldà ¢Ã¢â€š ¬s was at 1.87x. On the other hand, the average was 1.59x that is lower than what McDonaldà ¢Ã¢â€š ¬s posted. This has the implication that its projected growth is more moderate in comparison to its competitors. McDonaldà ¢Ã¢â€š ¬s had both return on assets (15.66%) and returned on equity (35.19%) which are both above the averages of 8.04% and 25.1% respectively. Therefore, McDonaldà ¢Ã¢â€š ¬s seems a better performer as compared to its competitors. In terms of profitability, the company has outshined its competitors by posting revenue growth of 12.18% in the year 2011.With all these competitors in the market, McDonaldà ¢Ã¢â€š ¬s has a change in the way it conducts its business. Nonetheless, McDonaldà ¢Ã¢â€š ¬s enjoys a competitive advantage over its other competitors. The company has been capable of maintaining a competitive edge over its competitors by employing different strategies. The three primary strategies used are focus, cost leadership and differentiation. McDonaldà ¢Ã¢â€š ¬s Corporation maintains low prices for its products as compared to its competitors. The focus t hat gives the company competitive advantages over its competitors is the quick delivery of its food. Every customer will be contented with the company that can deliver its food in quick manner. In differentiation, the company provides superior quality of goods and services as compared to what its competitors offer to the client. This gives it a competitive edge over them CITATION Uni131 \l 1033 (United States Securities and Exchange Commission, 2013).McDonaldà ¢Ã¢â€š ¬s SWOT analysisSWOT analysis is used in the evaluation of the strengths, opportunities, threats and weaknesses of a business venture. McDonaldà ¢Ã¢â€š ¬s has one of the favorite burgers across the globe hence its brand can scarcely be neglected by anyone. SWOT analysis of McDonaldà ¢Ã¢â€š ¬s deliberates the details of the firmà ¢Ã¢â€š ¬s achievement of fame and what it can do to remain in the business.StrengthsThe following are the powers of McDonaldà ¢Ã¢â€š ¬s Corporation. * Brand Equity- the company, has a worl dwide brand equity. * It takes about forty-two percent of the hamburger fast food in the US. * Uniformity of the food of it offers- there is consistency in the food sold by McDonaldà ¢Ã¢â€š ¬s * The successful goods and services are Promotions Egg McMuffin, Happy Meal, Fries, and Big Mac among others. * International market the company has penetrated the international market where it enough * The position of the balance sheet- the company has more assets as compared to the liabilities.WeaknessesMcDonaldà ¢Ã¢â€š ¬s Corporation has the following shortcomings: * Weakening market share * Weak development of the products * Dissatisfied franchisees * Slackened growth of income and revenueOpportunitiesMcDonaldà ¢Ã¢â€š ¬s Corporation can explore the following opportunities. * Global expansion in other countries especially in the incipient market such as India and China as it currently only serves one percent of the Worldsà ¢Ã¢â€š ¬ population. * Developing the dining-out market * Joint undertakings with other retailers such as supermarkets * Association with vendors * Response to changes in the social needs of the clients * Using CRM and database marketing to identify the target groups * Strengthening its proposition, value offering * Fitting kidsà ¢Ã¢â€š ¬ play-parks * Giving focus to corporate social responsibility in the countries where it operates, * Decreasing the impact on the environsThreatsMcDonaldà ¢Ã¢â€š ¬s Corporation faces the following risks in its working environment * Overstored/established/ industry * Stiff competition from it competitors * Consumers are becoming more health-conscious * Shifting demographics * The changeability of foreign exchange rates and the economies of different countries. * The Economic recession in most countries may...

Analysis Of Of Mice And Men - 2046 Words

‘Prejudice is a burden than confuses the past, threatens the future and renders the present inaccessible’. This quote from the famous activist ‘Maya Angelou’ presents us with the unbelievable truth of human history. Prejudice can alter us for the better, encourage us, creates us as a person, to be strong, we can’t change it, and it makes us who we are. Prejudice; when a person outcasts someone before knowing the facts. Reasons can be due to a certain trait, characteristic, ethnic background etc. This includes racism, sexism, and ageism to name but a few. I am exploring the issue of prejudice, in three different texts ‘Of Mice and Men’, ‘Half Caste’ and ‘Still I Rise’. ‘Of Mice and Men’ is a novel published in 1937 by John Steinbeck, set in the 1920’s. It follows George Milton and Lennie Small, two displaced migrant ranch workers, who move from place to place in search of new job opportunities during the Great Depression. Next, ‘Half Caste’; a poem written by John Agard, an Englishmen with Jamaican origin, published in 2004. He explores the issue of the racist term ‘Half Caste’ and how the situation on racism in society. Lastly, ‘Still I Rise’ also a poem, but written by ‘Maya Angelou’, published in 1978. This world famous activist explores the racism and sexism towards black women. She also explores how these terms won’t weaken people but strengthen them. These texts all cover the issues of racism, as well as sexism. Prejudice is an opposing force in society which historyShow MoreRelatedAnalysis Of Of Mice And Men1132 Words   |  5 PagesMax Nesins Mrs. Thompson HSE 1; Period 3 November 3, 2015 Analysis of Of Mice and Men. During the 1930’s Great Depression, author, John Steinbeck (1902-1968) wrote many books regarding the difficulties and tragedies that struck farmers who strived to make a living in a rural, and destitute California. One intriguing novel that exhibits his common themes is Of Mice and Men. People similar to Lennie, strive to achieve their dream in America, the land of unlimited potential, despite the depressionRead MoreAnalysis Of Of Mice And Men996 Words   |  4 PagesCritical Analysis on â€Å"Of Mice and Men† In 1992 Gary Sinise directed the tragic film â€Å"Of Mice and Men.† The story is about George Milton and Lennie Small, two friends who travel together in search of work. Though Lennie is very calm and harmless he isn’t very smart and is unaware of his strength, which leads him into trouble. A New York Times article describes him this way; â€Å"Lennie is a gentle giant of a man with the mental capacities of an 8-year-old. He loves to fondle soft things, like mice, puppiesRead MoreAnalysis Of Of Mice And Men 1687 Words   |  7 PagesWalt Disney once said that â€Å"all of our dreams can come true, if we have the courage to pursue them.† The concept of dreams and aspirations are what connects the two seemingly different Of Mice and Men and A Raisin in the Sun. Of Mice and Men, written by John Steinbeck, portrays a story of two poor farm hands living in California, one of which is handicap. This pair, despite all efforts, fail to accomplish this dream, showing a very anti-american dream aspect of this novel. On the other hand, A RaisinRead MoreAn Analysis Of A Of A Mice And Men 1576 Words   |  7 PagesCharacters who are different from society are marginalized. In the book Of a Mice and Men by John Steinbeck, Lennie Small and, Curley’s wife are marginalized throughout the book. Lennie Small is a strong and kind man who suffers from a mild mental disability. Curley’s wife, is young woman who isn’t given a specific name throughout the book. She is the only woman on her husband s ranch. Because she’s the only woman in the ranch, the only people she has to talk to is her husband, and the ranch workersRead MoreAnalysis Of Of Mice And Men 971 Words   |  4 PagesJarrod Homer 9th 2015 Of Mice and Men Summer Reading The novel Of Mice and Men written by John Steinbeck tells the story of two unexpected friends traveling together in California. The two are quite different from each other, Lennie is brawn but not bright whereas, George is smaller and more of a thinker. Although near opposites of each other, these two have held a strongRead MoreAnalysis Of Mice And Men 1390 Words   |  6 Pagesdespondent characters who are sick of their provincial lives. Loneliness is the feeling of isolation and no hope or dreams in your life-which is what Steinbeck achieves by portraying this theme effectively through key fictional characters in Of Mice and Men. By living in the town of ‘Soledad’ (Spanish for loneliness), the audience gets an overwhelming sense of the depressing environment that the migrant farmers are living through by their repetitive lifestyle and the consequences they face throughRead MoreAnalysis Of Of Mice And Men Essay1053 Words   |  5 PagesRachel Pavelka Quarter 1 Book Report English 9 10/12/16 Of Mice and Men Written by~ John Steinbeck Report written by ~ Rachel Pavelka The book I am reporting on is Of Mice and Men by John Steinbeck. The setting of the story is in Salinas Valley in Soledad California. The book was set around the 1930’s during The Great Depression. The historical context of the book shows how agriculture affected the Great Depression. During this time the nation’s grain was harvested more and more by machinesRead MoreAnalysis Of Of Mice And Men773 Words   |  4 PagesThere are three major and outstanding themes in Of Mice and Men, they consist of, strength and weakness, hopes and dreams, and my personal favorite, friendship and loneliness. There are so many examples of this theme throughout the story. â€Å"They had walked in single file down the path, and even in the open one stayed behind the other. Both were dressed in denim trousers and in denim coats with brass buttons. Both wore black, shapeless hats and both carried tight blanket rolls slung over their shouldersRead MoreAnalysis Of Of Mice And Men 903 Words   |  4 PagesThe character in Of Mice and Men that is most similar to Tom Buchanan in The Great Gatsby is Curley. Curley and Tom Buchanan have many similarities throughout both books. These shared chara cteristics stem from one thing both men have an abundance of: privilege. Curley and Tom are easily two characters with the least amount of struggle in The Great Gatsby and Of Mice and Men. Inheritance of power is prevalent in both Tom and Curley’s lives. Tom lives in East Egg, known for â€Å"old money† and highRead MoreAnalysis Of Of Mice And Men 1099 Words   |  5 Pagesimportantly, one who can always be there for you no matter what happens. The relationship between the intelligent and feeble George Milton and the imbecile, but vigorous Lennie Small is displayed as the main objective in Steinbeck s novel, Of Mice and Men. The description among these two characters is a form of juxtaposition because the two characters vary in several ways. The author’s intention of using this technique points out the differences between characters and how their personalities counteract

Hamlet, By William Shakespeare - 1219 Words

In Shakespeare’s classic play Hamlet, there are certainly a host of contrasting and influential characters that come together to naturally unfold the surprising events that make up the story. One such character is Ophelia, who spices up the play quite a bit. One of the main components, aside from her unrequited love of Prince Hamlet and her spying on him on behalf of her father and brother, that allows her to be such a central character is her madness, which leads up to her death. Not everyone agrees on the subject of Ophelia’s madness, especially if it was real or feigned and if it’s actual cause. In my opinion, Ophelia was driven to genuine madness out of grief and confusion. Ophelia’s biggest downfall was the fact that she fell in love†¦show more content†¦When Laertes and Polonius tell her that Hamlet is only using her for sex and that she needs to wait for the proper husband that they choose for her and stay a virgin until she becomes a wife, she doesn’t know whether to believe them or go with her heart. Hamlet doesn’t make it any easier on the poor girl (or the audience) to decipher his true feelings. One moment he tells her that he loves her ­Ã‚ ­the next he is insulting her and assuring her that he never did love her. This is enough to make any woman go insane. After all, Ophelia was quite honestly dazed and confused about the entire situation and didn’t know who she was supposed to trust and believe. There is speculation that Ophelia may have been pregnant with Hamlet’s child. If this is true, it gives even more reason for Ophelia to have been confused and mad. â€Å"Get thee to a nunn ry, why woulds t thou be a breeder of sinners?† (Hamlet to Ophelia, Act III Scene I, 121). In this famous scene, Hamlet tells Ophelia that he never loved her and that she should be sent to a brothel. He also goes on to declare that breeding would be stupid, because bringing children into the evil world they lived in would be selfish. This has led people to believe that Hamlet got Ophelia pregnant and then convinced her to get an abortion. Losing a child is, of course, a painful and emotionally scarring experience for any woman, so it would make perfect sense for that to

World Bank free essay sample

And then, critics argue the bank’s members are unaccountable. â€Å"In April 2010, Management presented a set of operational and institutional reforms aimed to enhance the overall effectiveness, efficiency, legitimacy, and accountability of the WBG† (WB, 2010). Some of these reform areas have direct implications on the governance of the institution, from the perspective of Board / Management relations, institutional accountability, and relations with external stakeholders. AS a result the Bank uses the methods to solve the current problems, such as reforming the voting system and presidential selection and makes the bank’s accountability. B. Governance: â€Å"Since the World Bank was established over 60 years ago, its role in supporting economic and social development has expanded and deepened with changes in the global context and the evolution in the financial architecture†(Jeff, 2007). The focus on strengthening internal governance systems and structures is driven by external and internal forces. There is little of bank basic structure has been altered, even though the World Bank’s members have been changed considerably. We will write a custom essay sample on World Bank or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The main problem of the World Bank’s governance is that developing country has weak link with bank’s decision making process, because they do not have their own executive director. â€Å"The World Bank’s internal governance mechanisms reflect the political and power relation which dominated World Bank’s politics in the decades following World War II. The five large shareholders in the Bank is the United States, Japan, Germany, the United Kingdom, and France which maintain more than two-thirds of the voting power, effectively ensuring that decision reflect the policy views of America and western Europe†(Leech, D. 2003)). Developing countries influence on the Board of Executive Directors is limited. â€Å"The remaining 16 Board seats are split among 177† (Leech, D. (2003), this has the consist with large number of individual countries. People suggest two ways: one is reforming current voting system, and another is selecting the bank’s pr esident. 1. Reforming voting system: Many people argue the bank’s current voting system. When the executive board makes decision about loan or other policies, voting is not based on one vote per country rule. Voting power is weighted and is based on a country’s quota†(Leech, D. (2003). Under the current quota, â€Å"each country has base of 150 votes, the country which has good economic can add votes, it means one additional vote for each share of stock held by that country, which depend on that country’s relative economic and financial strength†(Daniel Kalinaki, 2002). For example, United State is a large shareholder, and it holds 16. 4% votes (see table below). Member of the country that holds large shares has more power than the poor country during decision making process. Unfortunately, the developing countries need more loans, but they have the least amount of voting power to make loan decision. The quota system dictates that a handful of developed countries hold a majority of shares, these members are able to dominate the bank’s decision making process. Table: Voting Weights and Voting Powers in the Governors Member countries have suggested proposal for reforming the voting system to Increase representation of the borrowing countries. Double majority voting is one reform that may enhance developing countries’ participation. Under this system, decision would require to pass by two majorities that are majority of shareholder votes and majority of developing countries votes†(World Bank Group, 2003). This would give developing countries more opportunities to say what they want to say, because decision would not pass without support with a majority. And this system also allows the industrialized donor countries and the developing reci pient countries to assert their claims. 2. Selection of the World Bank President The selection of president is another argument relating to bank governance. The board of governors selects the president for a five year, renewable term†( Jeff powell, 2007). According the bank’s Article of Agreement state: â€Å"Executive Directors shall select a president who shall be chief of operating staff of the bank and shall conduct, under the direction of the Executive Directors, the ordinary business of the bank†(World Bank Group, 2003), â€Å"the Board of Executive Directors selects the President, in practice the head of the Bank is selected by the United States while the head of the IMF is selected by Europe†( David Theis, 2010). This gentlemans agreement between the US and Europe reduces the legitimacy and credibility of the World Bank. No clear procedures exists for ensuring the qualifications of a candidate, nor does a process exist for other member states to review and question appointments. The World Bank President should be selected through an open and transparent process. Now, many people and the global expert and world bank employees disagree the way the president choice and argue that the selection process should be a democratic, not only focuses on one country. They think that United States is no longer valid to be president because the united state account for 16% of the world bank’s share now, it does not play a dominate role in world bank. It is also unfair that united state hold a monopoly over the World Bank’s leadership. Many people give the advice to the World Bank for changing in the selection process. The one way they support is selecting process should be open and based on merit. They believe that opening up the selection process will ensue among qualified candidates’ and it also like a competition, which help the World Bank to get qualify president. The way is simulate new voting system. The new president should pass double majority. This means the president should be approved by a majority of the member countries and group of countries representing majority. This gives everyone opportunity to select who is the best president. The World Bank responses the working group and makes suggestion for selection process. The working group advice (1) the selection should oversee cannot focus on single country. (2) They should have a specific standard for choose candidates. (3) Every country has opportunity to provide candidates†(Daniel Kalinaki. 2002). The most important is candidate that was selected should have more experience and qualifications, and the selection process should be open and transparent. C. Accountability Critics argue that the Bank is u naccountable to its members, because they have charter which is immunity from lawsuits. The bank’s charter grants the bank immunity to the extent that member countries or persons who can not sue the bank about it do not follow its police. And it is fail to make it more accountable. Therefore, many people advice that the bank need to improve their accountable. If the bank cannot show their accountable, the member countries cannot trust what the bank does. As a result, the bank develop many horizontal accountability mechanisms which including the operation evaluation department, the department of institutional integrity. 1. Transparency While the Banks internal governance structures minimize the ability for developing countries to engage, the lack of transparency in decision making reduces the effectiveness of external stakeholders to engage in Bank affairs. The lack of Board transcripts leaves stakeholders with no way of knowing where individual Executive Directors stood on issues. This reduces their ability to effectively advocate their position. â€Å"In 1933, the Bank restricted public access to almost every type of document that related to bank’s project. Consequently, people do not know bank’s lending operation, nd they do not know where their money is going†(Jeff powell, (2007) Public scrutiny harm the bank’s decision making and effect its deliberation, the reason why they do is they think that the bank does not have the rights to disclose the documents. It is borrowing country’s property. When the number of public scrutiny and criticism increase, the bank attempts to increa se its transparency. The bank has expanded the information that allows public to access. As we can see, the bank uses its website to show public what it is doing and publish more research to people. The website that bank published shows the thing it will do, and annual report and presentation. The bank starts to improve transparency policy and create operations manual, and this change make the bank is more accountable to their member countries. It also creates many mechanisms to enhance horizontal accountability, which means department can check the abuses by other department. 2. Dual Feedback Performance Dual feedback performance is an important part to improve governance structure and accountability framework of WBG (World Bank Group). The feedback system is agreed by the executive directors, and it will be a part of WBG’s governance and accountability with next presidential selection round. The main object of Dual feedback performance is creating a dynamic relationship between Board and Management to improve in governance and effectiveness of the Board and president. A Committee on Governance and Administrative Matters (COGAM) Working Group composed of Board and Management representatives was established to work on developing a framework for the dual feedback performance of the Board and President. COGAM discussed a report from the Board members of the Working Group and endorsed the report as a significant input to continued work on the framework, which would be taken up by a renewed, integrated Board-Management Working Group in the next term of the Board† (World Bank Group, 2003). Dual feedback Performance can help each other to measure their performance and it can cause the governance of the bank mo re reliable. Each of department monitor other’s action and the bank will be dependable, because everyone is under the control, and there is less collusion between the departments. The Board and president wish to begin with a structured conversation on their respective effectiveness, measure against the institutional achievement as captured by the corporate scorecard. Conclusion: To improve the World Bank internal governance and ensuring the consistent with Department for International Development’s own objective, reform must take place at The Bank to achieve transparence and responsibility. An improved policy on information discloses would foster transparency and enables stakeholders to hold the Bank and their representatives to account. Improved selection procedures for the President alongside more equitable control among member states on the Board of Executive Directors would expand ownership of the organization to developing countries thereby increasing legitimacy and enhancing credibility and effectiveness and developing countries more opportunities to show their opinions. An improvement of Dual feedback performance helps the World Bank has more accountability to all departments; each of department can monitor each other and everything they is under the control.

Invention Of The Elevator Essays - Elevators, Skyscraper, Down

Invention of the Elevator Back in the days of the 1850's through 1900's the invention of the elevator was a big step for civilization. The people went from old fashion stairs to for them a minute ride of luxury and realization (opposed to climbing stairs). An American inventor named Elisha Graves Otis was the first person to invent the mechanical elevator with adequate safety devices, such as safety brakes which gripped on to the elevator cab's rails. Safey cables which looped around a drum that was attached to the driving motor. These cables were made out of heavy steel instead of rope that would wear and tear within a couple of weeks or maybe possibly a month. While on the other hand steel cables could last for a couple of years. Otis showed off his invention for the first time ar the Crystal Palace Exposition in New York City in 1854. People were estatic about the safety issue of the clamping arrangement that gripped the guide rails on which the elevator car moved when tension was released from the hoist cable. Which meant that if by chance the hoist cable ever snapped, clamps would grip the rails to keep the elevator cab from dropping and smashing at the bottom of the elevator shaft. Most of the United States civilization started to like elevators. Now that they were safer, people decided that elevators would take less time and less stress then taking the stairs. The first elevator was steam powered. It wasn't until later on when elevators had and electric motor. A New York department store called Haughwout Department store made the news and history books in 1957 because they were the first one to have a passenger elevator, driven by steam power installed. The store was five stories high. Hundreds even thousands went into Haughwout a day to see and try out the new elevator. Soon after Haughwout installed their elevator other businesses and apartment buildnings started putting them in. Now that elevators are here cities could grow. Let me tell you why, because in the cities before elevators came about apartment buildings and stores were no more than five stories high and for a valid reason. No one would rent an apartment on the tenth floor if they had to take the stairs. So once the elevators came around buildings began to grow up. Think about it we wouldn't have skyscrapers because again on one would want to climb that many stairs. No skyscrapers would put a burden on the country. I think because a lot of people make their living by building and designing skyscrapers. That's thousands of people who would be working other jobs they didn't want to or they would be unemployed. In 1889 another big building in New York City made the record and history books being the first building to install an electrically driven passenger elevator. This building was the Demarst Building. This elevator had an electric motor to drive a winding drum in the building's basement. You held a lever turning it on and you stopped at the floor you wanted to. It wasn't until 1894 when the push button control panel was introduced. This panel made the elevator very easy to use. All you had to do was walk into the elevator push the button for the floor you wanted to go to and the elevator takes you there. And if by chance the elevator got stuck or there was an emergency there was a button you could ppush so a bell would rind and someone would hear it and call for help. These buttons made the operation of the elevator so easy that even a toddler could work it. Later that year a hoisting aparatus was demonstrated in England. This aparatus applied electric power to a pulley at the top of t he shaft. The weight of the car and counter weights guaranteed traction. This made it possible to move the cable drum to the top of the shaft, leading to higher shafts in taller buildings. For example, the Empire State Building in New York City would have needed this aparatus because at the time this was to be the tallest building in the world. Now you think that all of these elevator

The Amistad essays

The Amistad essays What major conclusions can you derive in regard to the significance of the Amistad Case? In 1839, in waters off the coast of Cuba, a group of forty-nine Africans ensnared in the Atlantic slave trade struck out for freedom. They had been captured, sold into slavery, carried across the ocean, sold again, and they were being transported on what was, for millions of Africans, the last leg of the slave trade when they found the chance to seize the initiative. One of them, a man the world would come to know as "Cinque," worked free of his chains and led a shipboard revolt. The vessel they won was a schooner that had been named, in a grim bit of irony, the Amistad ("Friendship"). The Africans tried to force two Cuban survivors to sail them back to Africa, but the Amistad wound up instead in U.S. waters, just past Long Island Sound, where the Africans were again taken into custody. Spain promptly demanded their extradition to face trial in Cuba for piracy and murder, but their plight caught the attention of American abolitionists, who mounted a legal defense on the Africa ns' behalf. The case went through the American judicial system all the way up to the Supreme Court. The Amistad Case became one of the most important slavery cases that the nation had ever seen. A case that would not only bring different anti-slavery groups together, but a case that would prove to be a corner stone in the fight against slavery. It would prove to be a case that would have many influential people step in or try to, including the president of the U.S., martin Van Buren, and a former president, John Quincy Adams. Both cases were strong and provable, but it would be the Supreme Court that would have the final decision to free the slaves. The Amistad Case was one of the only times when three main groups of abolitionists came together to form one group in the fight against slavery. Moral Suasion, was one of the main groups that used graphi...

Bermuda Triangle

Have you ever wondered what The Bermuda Triangle is about and why it is a great mystery? Then my speech on the Bermuda triangle will help you understand more about this strange thing. The Bermuda triangle is a strange and mysterious region in the south West Atlantic ocean where people, ships, boats and air craft flying over it have been sucked in to its stormy waters or disappeared. The triangle is located in the islands of Bermuda, Miami, Florida and Puerto Rico and it is Also known as the devil’s triangle and covering an area of about 500000 miles. The need to undertake findings on the Bermuda triangle arose from what many journalists and other writers described the area to have experienced an extraordinarily high number of disappearances of ships, airplanes and people compared to any other region in the sea or ocean. The first notable sources of strange experiences in the region can be traced back to the 15th century. In one of his many voyages while in this region in 1492, Christopher Columbus reported cases of strange fire balls crushing into the ocean and compass malfunctions. Some have approximated the figures of disappearances in the last one hundred years as one hundred ships and planes each, and over a thousand people. Flight 19 Among the most notable cases of disappearances documented is â€Å"Flight 19†. On December 5th 1945, five fighter jets left Fort Lauderdale for a mission drill in the area defined by the triangle. The commander of the operation Charles Taylor was an experienced pilot although the other pilots were still students under his command. About one and half hours after take off, Taylor reported to the air traffic controllers that his compass was not functioning. The last faint radio signals to be heard indicated Taylor was in charge and flying farther away from the base in the wrong direction. One search operation plane was also lost during the search for flight 19. The remains of Flight 19 have not been spotted to date. Bermuda Triangle is an imaginary Theory In examining the above mentioned case of Flight 19, there were many indicators that Bermuda Triangle was an imaginary belief. All the documented evidence showed that Taylor had lost his way in deep sea and refused to control the the plane to a fellow pilot. A report was received that Flight 19 disappeared under mysterious circumstances. Columbus among many others are said to have sighted lights in the sky that are associated with UFOs. One of the claims about this triangle is that, UFOs are responsible for accidents and disappearances. There is no evidence to suggest that lights are not from flying saucers and as such must be from UFOs. Similarly, the source of light can be one or many things: a meteor, lightning or earthquake. Additionally, in times of Columbus tracing the direction depended on the sighting of North star only visible at dusk. During all those other hours at sea, one could get lost over any number of degrees in the compass in any direction. Conclusion In everyday life, such myths are a common place. Many people have spent much valuable time and resources in getting involved to these widely accepted â€Å"facts† in life. For instance, such beliefs could lead to potentially harmful behavior in case of sciences associated with health and medical practices. Examining the correctness of data and all the possible explanations to a phenomenon could be a great asset towards making important conclusions and decisions in life. Therefore the Bermuda triangle is case that has not yet been solved.

Powder Metallurgy Of Stainless Steel Dissertation

Powder Metallurgy Of Stainless Steel - Dissertation Example The use of Powder Metallurgy (commonly abbreviated as PM) technology in the manufacturing of various components has been growing in the recent times. In the early times traditionally, components produced by PM were pressed and then sintered in an atmosphere of dry hydrogen. Also, sintering temperatures were relatively high, and sintering times were extremely long and uneconomical. However, studies by North America laboratory between the 1930s and 1940s paved the path led to commercial for commercial production of PM stainless steel components by the end of 1940 [1-7]. Since then, the use and production of PM stainless steel components have been on the rise. Regardless of the fact that stainless steel components produced by PM are subjected to harsh conditions, the PM industries are working y is trying to optimize the process sintering conditions for better properties of the PM stainless steel components.so that the corrosion resistance and mechanical properties of PM stainless steel are optimized. The application of PM in the manufacture of stainless steel alloy components, for example, has been one of the factors driving this growth. This is due to the fact that stainless steel PM alloys components find applications in a number of industries such as recreational, automobile, aerospace, and chemical processing among others. The wide application of PM stainless steel alloys has led to the understanding of the importance of sintering and processing of PM stainless steel in the achievement of corrosion resistance of the alloy.  

Understand below-the-line techniques and how they are used Assignment

Understand below-the-line techniques and how they are used - Assignment Example The shift towards integrated promotional strategy is one of the most significant developments in the field of marketing. It helps in building brand identity and equity which is a priority when it comes to branding. The use of different communication mediums will only be successful if there is clarity in the message and all consumers are able to perceive it in the same manner. Marketing communication can be divided into two ways: Above the line communication is conventional in nature and is quite impersonal. It includes mediums such as television, radio, web banners and print media (Vaňa & ÄÅ'ernà ¡, 2011). Below the line activities are unconventional promotional strategies which are focused towards brand building. It is most suitable when the target audience is large and difficult to approach. Below the line activities are informal and more creative than above the line activities. With markets being more fragmented, it has become highly important for markets to break clutter and attract the audience using unconventional ways such as: distribution of flyers, conducting mall activities, special events and give-aways. Below the line activities are targeted towards individual consumers and desires call-to-action. It aims to obtain individual responses from the consumers to understand their needs and preferences. In other words, these activities ensure that there is a one-to-one relationship between the bra nd and the product being marketed. Below the line activities are also measurable allowing the marketers to gauge the responses easily. Below the line channels help the marketers in tailoring their message in a more personal manner so as to develop a relationship with the consumers. Marketers can involve numerous below the line activities in their holistic marketing campaigns in order to get closer to the target audience. Whatever message they are

Three Rings of Cruelty :: social issues

Three Rings of Cruelty Ladies and gentlemen, children of all ages, step right up and witness the amazing feats presented before your very eyes! Grab a bag of peanuts, a stick of cotton candy and find your seats, because you’re going to need them. Since animals do not usually stand on their heads, ride unicycles, or wear glitzy bow-ties, circus workers take it upon themselves to force the animals into submission by utilizing inhumane methods. Circus animals are made to live in substandard conditions where they have little access to food, water, and virtually no space to run and play. A circus is the epitome of innocence, or is it? Because behind the circus’ merry exterior lies a world of cruelty where animals ranging from the exotic to domestic are being needlessly exploited and abused by their trainers. The circus industry is selective in the nature of information it releases to the public, thereby maintaining its facade of innocence. Between May of 1993 and August of 2001 there have been over fifty accounts of animal abuse occurring in Ringling Bros. and Barnum & Bailey Circus. During this time, seventeen elephants died or were euthanized. Out of those seventeen, only five deaths were announced to the general public (PETA, Ringling Bros. and Barnum & Bailey Circus Fact Sheet, np). This is the same public who spends thousands of dollars each year to attend and keep shows like this in business. Yet the circus is reluctant in divulging any information regarding the very things these people pay money to see. Perhaps the circus believes these deaths are private matters, not important enough to mention. It is more likely though, to assume that it fears what may happen if the news of these deaths were to spread further. There would undoubtedly be a drop in attendance, which would result in a drop in revenue. If not enough money is brought into the circus, it has no choice but to close. Instead of spending money to maintain the animals’ well-being the cash is used to keep the circus afloat and on the road. After being sued for animal abuse in July of 2000, Catherine Ort-Mabry ,a spokeswoman from Ringling stated, â€Å"The show provides its animals with the highest standards of care.† (ABPnews, Circus Sued for Animal Abuse. np) Her statement is a laughable fallacy when examining the high mortality rate in the elephants in circuses is due to captivity induced foot pro blems and arthritis.

Coca Cola Auditing Project

AIM 6334 Auditing and Assurance Service Research Project [pic] Li-chung Lee Kung Ya Cheng Jui-Ping Lin Table of Contents I. Introduction:†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. P. 3~4 II. Ch 1: The client acceptance/continuation process, including establishing an understanding with the client†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦P. 4~5 III. Ch2: Obtaining an understanding of the entity and its environment, including internal control. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦P. 5~6 IV. Ch3: Preliminary Engagement Activities†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ P. 6 V. Ch4: Assess Risk and Establish Materiality†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. P. 7~8 VI. Ch5: Consider Internal Control†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦P. 9~11 VII. Ch6: Plan the Audit†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. P. 11~14 VIII. Ch7: Complete the Audit†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. P. 15 IX. Ch8: Evaluate results and issue an audit report†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. P. 16 X. Reference†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â ‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦P. 17 XI. Attachments†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. P. 18~23 I. Introduction: The Coca-Cola Company (Symbol: KO) was incorporated in September 1919 under the laws of the State of Delaware and succeeded to the business of a Georgia corporation with the same name that had been organized in 1892. The Company is the manufacturer, distributor and marketer of nonalcoholic beverage concentrates and syrups in the world. Finished beverage products bearing its trademarks, sold in the United States since 1886, are now sold in more than 200 countries. Along with Coca-Cola, the Company markets nonalcoholic sparkling brands, including Diet Coke, Fanta and Sprite. It manufacture beverage concentrates and syrups, which the Company sells to bottling and canning operations, fountain wholesalers and some fountain retailers, as well as finished beverages, which the Company sells to distributors. The Company owns or licenses more than 450 brands, including diet and light beverages, waters, enhanced waters, juices and juice drinks, teas, coffees, and energy and sports drinks. The Company is one of numerous competitors in the commercial beverages market. Of the approximately 53 billion beverage servings of all types consumed worldwide every day, beverages bearing trademarks owned by or licensed to the Company account for approximately 1. 5 billion. [1]The reason we chose this company is because it has enormous market share in countries around the world. In order to expand its market share, The Coca-Cola Company cooperated with the major fast food chain company. Today, The Coca-Cola Company become a well known and globalization company. We want to know how it can be sustainability and venerability company in the world. From its reports, we also found out it has tremendous benefit from its advertising. In this paper, we concern that how the auditors build a good audit plan in such large company and such complex business. II. Ch1: Understanding of the client There are five major reasons that we consider to accept The Coca Cola Company to be out client. 2] Management Integrity Based upon assertions of management ranging from the existence of an element in the financial statements to disclosures of information regarding that element, we examines The Coca Cola Company financial statements that are no responsible practitioner would knowingly place reliance on assertions of a client's management which had questionable integrity. Relationshi ps with Other Professionals We will follow the GAAS requirement to communicate with the predecessor auditor prior to committing to provide audit services to The Coca Cola Company. Matters of interest include the opinions issued by the predecessor auditor, resignation of the prior auditor or the refusal to stand for reelection, disagreements between the prior auditor and management regarding accounting principles or auditing procedures and any â€Å"opinion shopping† issues. Inquiry of other professionals having dealings with the client should, however, not be limited to the predecessor auditors. Furthermore, we will ask bankers, lawyers, and other professionals can provide important valuable information about The Coca Cola Company and its management. Risk of Association The Coca Cola Company engaged in legitimate business activities that do not violate the laws of the jurisdiction where the company is headquartered or carries on its business. After reviewing its financial statement, we believed that its financial is stability and liquidity. Technical Competence The auditors who will perform the auditing are well trained due to the complexities of the modern business world. And also, the auditors have the necessary technical competence to perform the required work or risk potential liability or damage to reputation. Professional Fees Audit fees charged to The Coca Cola Company will base on commensurate with the risks to the providing the services requested. The fees will cover adequately the cost of the services provided. III. Ch2: Obtaining an understanding of the entity and its environment In the 21st century, the beverage industry has been become one of the fastest developing industries and the competition in this industry become significantly. Even in this market share campaign, The Coca Cola Company still remains its leader position in the beverage industry. The Coca-Cola Company and six of their largest bottling partners developed a strategy for sustainability in 2002. That plan focuses on the role and impact of the Coca-Cola system in four key areas: workplace, marketplace, environment and community. Furthermore, The Coca-Cola Company uses this strategy to guide the approach to sustainability issues and to report the progress. [3] In last year, when lots of companies in the industry are going down, The Coca-Cola Company still delivering consistent performance. For its internal control, the company follows the independent and experience requirement of NYSE and SEC for many years. And the audit committee has been composed entirely of non-management directors. [4] IV. Ch3: Preliminary Engagement Activities Every member in our audit team is well trained and performs follow by the conduct of AICPA and SEC. Regarding to the ethical and independence matter, we has three major requirements. 1. Our auditor have to sign the contract to make sure that he/she will not take a position in the The Coca-Cola Company in two years 2. We will not hire the auditor who uses to work in The Coca-Cola Company. 3. We required the auditor to report to the partner who has special relationship with the The Coca-Cola Company. V. Ch4: Risk and Establish Materiality The Coca-Cola Company is a globalization company; it faces various issues. For example, Obesity concerns, water scarcity and poor quality, increased competition, and evolving consumer preferences are risks having the potential to have a material adverse effect on our client. To be an auditor, we assess client’s RMM (risk of material misstatement) with understanding the client entity and industry. After audit risk is set, we go further to assesses inherent and control (environment) risks. In addition, assessing client’s inherent and control risks which can influence the level of detection risk directly. Base on the case, we make an assumption in order to maintain the audit risk. The following table shows numerical and non-numerical example of audit risk. Audit Risk |RMM |DR | | |IR |CR | | |5% |50% |20% |50% | |low |moderate |low |moderate | â€Å"Audit risk on most engagements is much lower than 5%. [5]According to conservative assumptions that we decide inherent risk is assessed at moderate (50%). The Coca-Cola Company is a multinational company, so there are not only lots of accounts receivable which come from different branches in the world, but also lots of inventories which were made or stored in different factories and warehouses in the world. As the reasons above, The Coca-Cola Company may face some risks, such as is there reason to believe that receivables include significant balances in foreign currencies? Is there reason to believe that the existence of the accounts receivables which generate from different oversea branch companies or subsidiaries? Are there significant foreign currency inventories balance? Are manufactured inventories transferred between locations, divisions, or subsidiaries within a consolidated entity? Are there material-inventories owned by the client but held by others (e. g. , on consignment with customers)? Therefore, we should assess the inherent risk in moderate level. On the basis of our experience, after we read the predecessor auditor’s report and our client’s past annual report. We presumed that our client has well internal control so that we can assess the control risk in low level. Overall, in order to keep the audit risk in low level, we decided our detection risk in moderate level. Besides, in our client’s industry there are some companies that try to inflate their revenue and assets so in our audit we will focus on operating cycle. In other words, we will put emphasis on auditing accounts receivable and inventory to make sure there are no major accounting schemes or fraud that will mislead the presentation of financial statements. Materiality â€Å"Materiality includes both the nature of the misstatement, as well as the dollar amount of misstatement, and must be judged in importance by financial statement users. †[6] In our engagement, we will use the nature and dollar amount to decide what materially is for our client as the follow chart. Account |Accounts receivable |Inventory | |Materiality | | | |Nature |1. Recognize revenue in wrong period |1. Easy to thief | | |2. The existence of the A/R |2. Hard to count the ending balance | | |3. Risk of foreign currency exchange | | |Dollar amount |In our firm’s policy, in manufacture industry we adopt the 10% of net income after|The same as left column. | | |tax to decide the materiality. For example, the net income 2007 multiply 10% | | | |$5,981M*10%=600M | | VI. Ch5: Consider Internal Control 1. Define Internal Control: According to the COSO’s definition of internal control, â€Å" a process, effected by an entity’s board of directors, management, and other personnel designed to provide reasonable assurance regarding the achievement of objectives in the following categories: (1) reliability of financial reporting, (2) compliance with applicable laws and regulations, and (3) effectiveness and efficiency of operations. †[7] 2. Identify some controls that would be relevant to the audit. Account |Accounts receivable |Inventory | |Control | | | |Authority |Inquire about credit procedure for new customers (Valuation) |When shipping the Inventory to vendor or supplier, the | | |From a population of approved sales orders (and returns), select a|warehouseman should get the proper authority shipping | | |sample and examine documents for evidence of credit check |document. | |(Valuation) | | |Custody |Prepare daily cash summa ry (copy to A/R and Accounting) |Observe physical controls over inventory. | | |Segregation of duty: Mailroom & cashier |Segregation of duty: Warehouse & Shipping | |Recording keeping |Trace a sample of shipping documents (selection from pre-numbered |The perpetual records should reconcile to the general | | |shipping documents) to sales invoice, sales journal, and A/R |ledger. | |master file (Completeness) |The reconciliation of Inventory and the Lower or market| | |Match remittance advices and check deposit summary |price valuation should be review by proper accounting | | | |manager or management. | 3. Discuss the components of Internal Control: |Control environment |After we understand the internal control procedure and policy, we ensure that our client has ideal control| | |procedure, high ethical standard, and monitoring processes. | |Risk assessment |Risk exist in the oversea marketplace (in failures to merge China companies) | | |In failures to accurately record and report financial information. |Control activities |Authority | | |Custody | | |Segregation of duty | | |Recording keeping | |Information and Communication |Our client has good information and communication function including initiating, authorizing, recording, | | |processing, and reporting entity transactions, conditions, and events. |Monitoring |Our client use computer accounting software and system to assess the quality of other transaction and | | |operational controls over time. It includes the periodic assessment of both the design and operation of | | |controls on a timely basis. | 4. The elements involved in obtaining an understanding of Internal Control We should obtain an understanding of the five components of internal control sufficient to: A. Evaluating the design of relevant controls and determining whether they have been implemented. B. Assess the risk of material misstatement. C. Design the nature, extent, and timing of further audit procedures. 5. Access Control Risk We should assess the inherent risk in moderate level. On the basis of our experience, after we read the predecessor auditor’s report and our client’s internal control procedures. We can presume that our client has well internal control so we can assess the control risk in low level. 6. Managements Responsibilities and the auditors’ responsibilities under Section 404. | |Managements |The auditors | |Laws or standards |Sarbanes-Oxley Act of 2002 ( for publicly traded |Second standard of fieldwork | | |companies) |2. PCAOB Auditing Standard No. (AS 5) | |Responsibilities |In addition to certifying the company’s financial |Auditors must provide their opinion on the effectiveness of | | |statements (Section 302), management must also report on |client’s internal control. | | |the company’s internal control over financial reporting | | | |(Section 404). | | (Chris Linsteadt, 2008 Audit Class Slides ch6) VII. Ch6: Plan the Audit 1. Assess the need for specialists In our case, we should hire some com puter audit experts who can help our firm to make sure that our client’s accounting system is sate and correct. 2. Assess the possibility of illegal acts. Risk |The possibility of illegal acts | |Is there reason to believe that the existence of the accounts |There were some fake transactions which were made by management or employees. | |receivables which generate from different oversea branch companies or |If the sales don’t get proper credit authority, there will be huge bad debt | |subsidiaries? |expense in the future | |Are there material-inventories owned by the client but held by others |The management may try to inflate the sales in the end of year so he may try to| |(e. g. , on consignment with customers)? |recognize consignment as sales revenue. | |The management may use consignment to control the company’s ending inventory or| | |COGS. | |Are manufactured inventories transferred between locations, divisions,|The management may use complicated relat ed party transaction to generate fake | |or subsidiaries within a consolidated entity? |sales or ending inventory. | | |The employees may have chance to steal the coke formula or inventories. | 3. Identify related parties After we discussed with the management and checked the related party transactions, there is no material related party transaction in this engagement. 4. Conduct preliminary analytical procedures. |Accounts Receivable |Inventory | |Compare with industry rate to make sure our client’s A/R turnover rate and |Compare with industry rate to make sure our client’s inventory turnover | |days are reasonable. |rate and days are reasonable. | |Compare our client’s allowance for doubtful account policy with competitors’|Make sure the change in our client’s inventories is reasonable without | |policy to make sure the bad debt expenses are reasonable estimated. |material misstatement. |Make sure the change in our client’s A/R is reasonable without material | | |misstatement. | | 5. Consider additional value added services. After we obtain and understand our client’s internal control, we should detect our client’s internal control. We can prepare a feedback report to our client and help our client to improve their internal control or accounting system. Besides, when our client’s face s ome problems about new accounting standards, we could help our clients to train their accountants 6. Audit Plan and Audit program. Receivables | |Name of Client: | |Period: | | | |Estimated audit hours: | |Audit procedures | |Sign and date by | |Working paper Ref. | | | |auditors | | | |01. TEST PROPRIETY OF REVENUE RECOGNITION POLICIES AND PROCEDURES – Receivables [Validity, | | | | | |Cutoff] | | | | | |02. CONFIRM RECEIVABLES [Validity, Completeness, Recording, and Cutoff] [Q04 – No] | | | | | |03. TEST THE ALLOWANCE FOR DOUBTFUL ACCOUNTS AND BAD DEBT EXPENSE [Valuation] | | | | | |04. TEST PRESENTATION OF RECEIVABLES [Presentation] | | | | | |05. TEST LATE CUTOFF OF SALES [Cutoff] [Q01A – Sales Invoices] | | | | | |06. TEST LATE CUTOFF OF SALES [Cutoff] [Q01A – Initial Records] | | | | | |07. ROLL-FORWARD TEST FOR RECEIVABLES TESTED PRIOR TO YEAR END [Validity, Completeness, | | | | | |Recording, Cutoff] | | | | | |08. TEST RECEIVABLES TO SUBSEQUENT CASH RECEIPTS [Validity, Completeness, Recording, Cutoff] | | | | | |09. TEST ALLOWANCES FOR SALES RETURNS AND DISCOUNTS [Valuation] | | | | | |10. TEST PRESENTATION OF RELATED-PARTY RECEIVABLES [Presentation] | | | | | |11. TEST VALUATION OF FOREIGN CURRENCY RECEIVABLES [Valuation] | | | | | |Reviewer : | |Sign: | |Date | 6. Audit Plan and Audit program. |Inventory | |Name of Client: | |Period: | | | |Estimated audit hours: | |Audit procedures | |Sign and date by | |Working paper Ref. | | |auditors | | | |01. OBSERVE AND TEST-COUNT INVENTORIES [Validity, Completeness, Recording, Cutoff, Valuation]| | | | | |02. TEST THE FINAL INVENTORY COMPILATION [Validity, Completeness, Recording, and Cutoff] | | | | | |03. TEST MARKET VALUATION RESERVES [Valuation] | | | | | |04. TEST PRESENTATION OF INVENTORY [Presentation] | | | | | |05. TEST LATE CUTOFF OF INVENTORY PURCHASES [Cutoff] [Q05A – Recorded Purchases] | | | | | |06. TEST EARLY CUTOFF OF DEBIT NOTES [Cutoff] | | | | | |07. TEST BOOK TO PHYSICAL ADJUSTMENTS [Validity, Completeness, Recording] | | | | | |08. ROLL-FORWARD TEST FOR INVENTORIES PRICE TESTED PRIOR TO YEAR END [Validity, Completeness, | | | | | |Recording, Cutoff] | | | | | |09. TEST ELIMINATION OF INTERCOMPANY PROFIT [Valuation] | | | | | |10. TEST BALANCES DENOMINATED IN FOREIGN CURRENCIES [Valuation] | | | | | |11. TEST PRESENTATION OF RELATED-PARTY BALANCES [Presentation] | | | | | |Reviewer : | |Sign: | |Date | VIII. Ch7: Complete the Audit The auditor’s responsibilities during the completion stage of the audit: â€Å"Before issuing the audit report, the auditor needs to: 1. Perform a final review of the audit to be sure the financial statements are fairly presented and the audit documentation supports the audit report 2. Assess the ability of the client to continue as a going concern, and 3. Make a final review of the auditor’s assessment of internal control based on evidence gathered and any material misstatements identified in the financial statement audit. In addition, we should get the management representation letter and letter of audit inquiry to make sure there are no material contingent liabilities and events subsequent to the financial statements and keep communicating with the audit committee. The follow data are made by assumption: Contingent Liabilities |Subsequent events | |Our client may lose the litigation about merger in oversea. It will cause a |Note disclosure: | |huge loss for our client. |On January  8, 2009, our Company sold substantially all of our interest in | | |Vonpar Refrescos S. A. (â€Å"Vonpar†), a bottler headquartered in Brazil. Total| | |proceeds from the sale were approximately $238  million, and we recognized | | |a gain on this sale of approximately $71  million. Prior to this sale, our | | |Company owned approximately 49  percent of Vonpar's outstanding common | | |stock and accounted for the investment using the equity method | |Our client is a multinational company so it may have the threat of | | |expropriation of assets in a foreign country. | | |Our client may get loss in the highly competitive nonalcoholic beverages | | |industry. If our client signs purchase and sale commitments with its | | |supplier, it may get a huge loss in the future. | | | |Other important investments which will change our client’s accounting | | |principle similar as above. | IX. Ch8: Evaluate results and issue an audit report Independent Auditor’s Report The Board of Directors and Stockholders The Coca-Cola Company: We have audited the consolidated balance sheets of the Coca-Cola Company and subsidiaries (the â€Å"Company†) as of December 31, 2007 and 2008, and the related consolidated statement of income, stockholders’ equity and cash flows for each of the years in the three-year period ended December 31, 2008. These consolidated financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on these consolidated financial statements bases on our audits. We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant presentation. We believe that our audits provide a reasonable basis for our opinion. In our opinion, the consolidated financial statements refereed to above present fairly, in all material respects, the financial position of the Coca-Cola Company and subsidiaries as of December 31, 2007 and 2008, and the results of their operations and their cash flows for each of the years in the three-year period ended December 31, 2008, in conformity with accounting principles generally accepted in the United States of America. We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States), the effectiveness of the Company’s internal control over financial reporting as of December 31, 2008, based on criteria established in Internal Control-Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission(COSO), and our report dated March 14, 2009 expressed an unqualified opinion on the effectiveness of the Company’s internal control over financial reporting. Lee &Cheng &Lin LLP Dallas, U. S. A. March 14, 2009 X. References †¢ â€Å"The company description,† Market watch < http://www. marketwatch. om/tools/quotes/profile. asp? symb=ko> †¢ Deppe, Larry A. , â€Å"Client acceptance: what to look for and why. (Tips for accountants on deciding which new clients to accept) (Cover Story)†, The CPA Journal , May 1992, †¢ â€Å"Strategic vision†, The Coca Cola Company website à ¢â‚¬ ¢ â€Å"2008The proxy statement†, The Coca Cola Company website, †¢ Chris, Linsteadt, â€Å"2008 Audit Class Slides† †¢ Rittenberg, Schwieger, Johnstone. Auditing, A Business Risk Approach. Thomson&South-Western Publishing. 6th,2008 †¢ â€Å"SEC filing† The Coca Cola Company website Retrieved from the World Wide Web: XI. Attachment (Financial Statements) Consolidated Balance Sheet COCA COLA CO | | | | | |10-K | | | | | |02/28/2008 | | | | | |? | | | | | |Balance Sheet | | | | | |December 31, |2007. 00 |2006. 0 | |(In millions except par value) |? | |? | | |ASSETS |? |? |? |? | |CURRENT ASSETS |? |? |? |? | |Cash and cash equivalents |$4,093 |$2,440 | |Marketable securities |? |215 |? |150 | |Trade accounts receivable, less allowances |? |3,317 |? 2,587 | |of $56 and $63, respectively | | | | | |Inventories |? |2,220 |? |1,641 | |Prepaid expenses and other assets |? |2,260 |? |1,623 | |TOTAL CURRENT ASSETS |? |12,105 |? |8,441 | |INVES TMENTS |? |? |? |? | |Equity method investments: |? |? |? |? | |Coca-Cola Enterprises Inc. |? |1,637 |? 1,312 | |Coca-Cola Hellenic Bottling Company S. A. |? |1,549 |? |1,251 | |Coca-Cola FEMSA, S. A. B. de C. V. |? |996 |? |835 | |Coca-Cola Amatil Limited |? |806 |? |817 | |Other, principally bottling companies |? |2,301 |? |2,095 | |and joint ventures | | | | | |Cost method investments, principally |? |488 |? 473 | |bottling companies | | | | | |TOTAL INVESTMENTS |? |7,777 |? |6,783 | |OTHER ASSETS |? |2,675 |? |2,701 | |PROPERTY, PLANT AND EQUIPMENT net |? |8,493 |? |6,903 | |TRADEMARKS WITH INDEFINITE LIVES |? |5,153 |? |2,045 | |GOODWILL |? |4,256 |? |1,403 | |OTHER INTANGIBLE ASSETS |? |2,810 |? 1,687 | |TOTAL ASSETS |$43,269 |$29,963 | |LIABILITIES AND SHAREOWNERS EQUITY |? |? |? |? | |CURRENT LIABILITIES |? |? |? |? | |Accounts payable and accrued expenses |$6,915 |$5,055 | |Loans and notes payable |? |5,919 |? |3,235 | |Current maturities of long-term debt |? |133 | ? |33 | |Accrued income taxes |? |258 |? 567 | |TOTAL CURRENT LIABILITIES |? |13,225 |? |8,890 | |LONG-TERM DEBT |? |3,277 |? |1,314 | |OTHER LIABILITIES |? |3,133 |? |2,231 | |DEFERRED INCOME TAXES |? |1,890 |? |608 | |SHAREOWNERS EQUITY |? |? |? |? | |Common stock, $0. 25 par value; Authorized 5,600 |? |880 |? |878 | |shares; | | | | |Issued 3,519 and 3,511 shares, respectively | | | | | |Capital surplus |? |7,378 |? |5,983 | |Reinvested earnings |? |36,235 |? |33,468 | |Accumulated other comprehensive income |? |626 |? |(1,291) | |(loss) | | | | | |Treasury stock, at cost 1,201 and 1,193 |? |####### |? ####### | |shares, respectively | | | | | |TOTAL SHAREOWNERS EQUITY |? |21,744 |? |16,920 | |TOTAL LIABILITIES AND SHAREOWNERS EQUITY |$43,269 |$29,963 | Consolidated Income Statement |COCA COLA CO | | | | | |10-K | | | | | |02/28/2008 | | | | | |? | | | | |Income Statement | | | | | |Year Ended December 31, |2007. 00 |2006. 00 | |(In millions except per share data) |? | |? | | |NET OPERATING REVENUES |$28,857 |$24,088 | |Cost of goods sold |? |10,406 |? 8,164 | |GROSS PROFIT |? |18,451 |? |15,924 | |Selling, general and administrative expenses |? |10,945 |? |9,431 | |Other operating charges |? |254 |? |185 | |OPERATING INCOME |? |7,252 |? |6,308 | |Interest income |? |236 |? |193 | |Interest expense |? |456 |? 220 | |Equity income net |? |668 |? |102 | |Other income (loss) net |? |173 |? |195 | |Gains on issuances of stock by equity method |? |? |? |? | |investees | | | | | |INCOME BEFORE INCOME TAXES |? |7,873 |? |6,578 | |Income taxes |? |1,892 |? 1,498 | |NET INCOME |$5,981 |$5,080 | |BASIC NET INCOME PER SHARE |$2. 59 |$2. 16 | |DILUTED NET INCOME PER SHARE |$2. 57 |$2. 16 | |AVERAGE SHARES OUTSTANDING |? |2,313 |? |2,348 | |Effect of dilutive securities |? |18 |? |2 | |AVERAGE SHARES OUTSTANDING ASSUMING DILUTION |? |2,331 |? |2,350 | Consolidated Statements of Cash Flows COCA COLA CO | | | | | |10-K | | | | | |02/28/2008 | | | | | |? | | | | | |Cash Flows | | | | | |? | | | | | |? | | | | | |? | | | | | |? |? |? |? |? |Year Ended December 31, |2007. 00 |2006. 00 | |(In millions) |? | |? | | |? | | | | | |OPERATING ACTIVITIES |? |? |? |? | |Net income |$5,981 |$5,080 | |Depreciation and amortization |? |1,163 |? 938 | |Stock-based compensation expense |? |313 |? |324 | |Deferred income taxes |? |109 |? |(35) | |Equity income or loss, net of dividends |? |(452) |? |124 | |Foreign currency adjustments |? |9 |? |52 | |Gains on issuances of stock by equity investees |? |? |? |? | |Gains on sales of assets, including bottling |? |(244) |? (303) | |interests | | | | | |Other operating charges |? |166 |? |159 | |Other items |? |99 |? |233 | |Net change in operating assets and liabilities |? |6 |? |(615) | |Net cash provided by operating activities |? |7,150 |? |5,957 | |INVESTING ACTIVITIES |? ? |? |? | |Acquisitions and investments, principally |? |(5,653) |? |(901) | |beverage and bottling companies | | | | | | Purchases of other investments |? |(99) |? |(82) | |Proceeds from disposals of other investments |? |448 |? |640 | |Purchases of property, plant and equipment |? |(1,648) |? (1,407) | |Proceeds from disposals of property, plant |? |239 |? |112 | |and equipment | | | | | |Other investing activities |? |(6) |? |(62) | |Net cash used in investing activities |? |(6,719) |? |(1,700) | |FINANCING ACTIVITIES |? |? |? |? | |Issuances of debt |? 9,979 |? |617 | |Payments of debt |? |(5,638) |? |(2,021) | |Issuances of stock |? |1,619 |? |148 | |Purchases of stock for treasury |? |(1,838) |? |(2,416) | |Dividends |? |(3,149) |? |(2,911) | |Net cash provided by (used in) financing |? |973 |? (6,583) | |activities | | | | | |EFFECT OF EXCHANGE RATE CHANGES ON CASH |? |249 |? |65 | |AND CASH EQUIVALENTS | | | | | |CASH AND CASH EQUIVALENTS |? |? |? |? | |Net increase (decrease) during the year |? |1,653 |? |(2,261) | |Balance at beginning of year |? |2,440 |? 4,701 | |Balance at end of year |$4,093 |$2,440 | | | | | Consolidated Statements of Shareowners’ Equity |COCA COLA CO | | | | | |10-K | | | | | |02/28/2008 | | | | | |? | | | | |CONSOLIDATED STATEMENTS OF SHAREOWNERS#146; EQUITY | | | | | |Year Ended December 31, |2007. 00 |2006. 00 | |(In millions except per share data) |? | |? | | |? | | | | | |NUMBER OF COMMON SHARES OUTSTANDING |? |? |? |? | |Balance at beginning of year |? |2,318 |? |2,369 | |Stock issued to employees exercising stock |? |8 |? 4 | |options | | | | | |Purchases of stock for treasury 1 |? |(35) |? |(55) | |Treasury stock issued to employees exercising |? |23 |? |? | |stock options | | | | | |Treasury stock issued to former shareholders |? |4 |? |? |of glaceau | | | | | |Balance at end of year |? |2,318 |? |2,318 | |COMMON STOCK |? |? |? |? | |Balance at beginning of year |$878 |$877 | |Stock issued to employees exercising stock |? |2 |? |1 | |options | | | | | |Balance at end of year |? 880 |? |878 | |CAPITAL SURPLUS |? | ? |? |? | |Balance at beginning of year |? |5,983 |? |5,492 | |Stock issued to employees exercising stock |? |1,001 |? |164 | |options | | | | | |Tax (charge) benefit from employees stock |? |(28) |? 3 | |option and restricted stock plans | | | | | |Stock-based compensation |? |309 |? |324 | |Stock purchased by former shareholders |? |113 |? |? | |of glaceau | | | | | |Balance at end of year |? |7,378 |? |5,983 | |REINVESTED EARNINGS |? |? |? |? | |Balance at beginning of year |? |33,468 |? 31,299 | |Adjustment for the cumulative effect on |? |(65) |? |? | |prior years of the adoption of Interpretation | | | | | |No. 48 | | | | | |Net income |? |5,981 |? |5,080 | |Dividends (per share $1. 36, $1. 24 and $1. 12 |? |(3,149) |? (2,911) | |in 2007, 2006 and 2005, respectively) | | | | | |Balance at end of year |? |36,235 |? |33,468 | |ACCUMULATED OTHER COMPREHENSIVE INCOME |? |? |? |? | |(LOSS) | | | | | |Balance at beginning of year |? |(1,291) |? |(1,669) | |Net foreign currenc y translation adjustment |? |1,575 |? 603 | |Net gain (loss) on derivatives |? |(64) |? |(26) | |Net change in unrealized gain on available-for-sale |? |14 |? |43 | |securities | | | | | |Net change in pension liability |? |392 |? |? | |Net change in pension liability, prior |? |? |? |46 | |to adoption of SFAS No. 58 | | | | | |Net other comprehensive income adjustments |? |1,917 |? |666 | |Adjustment to initially apply SFAS No. 158 |? |? |? |(288) | |Balance at end of year |? |626 |? |(1,291) | |TREASURY STOCK |? |? |? |? | |Balance at beginning of year |? |(22,118) |? (19,644) | |Stock issued to employees exercising stock |? |428 |? |? | |options | | | | | |Stock purchased by former shareholders |? |66 |? |? | |of glaceau | | | | | |Purchases of treasury stock |? |(1,751) |? (2,474) | |Balance at end of year |? |(23,375) |? |(22,118) | |TOTAL SHAREOWNERS EQUITY |$21,744 |$16,920 | |COMPREHENSIVE INCOME |? |? |? |? | |Net income |$5,981 |$5,080 | |Net other comprehensive income adjustments |? |1,917 |? 666 | |TOTAL COMPREHENSIVE INCOME |$7,898 |$5,746 | [8] ———————– [1] http://www. marketwatch. com/tools/quotes/profile. asp? symb=ko [2] http://www. nysscpa. org/cpajournal/old/12543349. htm [3] http://www. thecoca-colacompany. com/citizenship/strategic_vision. html [4] http://www. thecoca-colacompany. com/investors/proxies. html [5] Rittenberg, Schwieger, Johnstone, p105 [6] Rittenberg, Schwieger, Johnstone, p101 [7] Chris, Linsteadt, â€Å"2008 Audit Class Slides Ch6† [8] http://ir. thecoca-colacompany. com/phoenix. zhtml? c=94566&p=irol-sec&se

The Politics of Census in Nigeria - 5727 Words

CHAPTER ONE INTRODUCTION 1.1 BACKGROUND TO THE STUDY Population is the major determinant of national affairs. It leverages power and determines public policy and revenue allocation as areas with higher population are entitled to a greater share of the national resources in terms of state creation, representation and other national consideration. Moreover, politics especially democracy thrives on numbers. So, population figures also shapes election result, since a more population place will justifiably cast more voters. It, therefore, a power toll. Both for economic and political activities (Ezukanma 2003). The imperatives of population in gaining leverage at every of national affairs makes census count imperative and vita for any and†¦show more content†¦It put North at 55.4% of Nigeria population and north over the years has manipulated census figure provided a mainstay for northern hegemony. Nigeria population was used as a basis for allocating parliamentary seats at the centre among the then three regions of the federation (north, west and east). This invariable led to the politicization of census that seems to have intensified with each subsequent census (Haruna 2007) There has never been an accurate population census in Nigeria rather what the nation always has are inflated figures full of controversies, manipulation and friction owing to politicization such exercise suffice it to assert omitted the usually defeated and truncated the last enumeration which took place in March 2006 is the reason d’ etve for this study. At this juncture, the basic questions to be tackled in this study are: (1) How has socio-economic factors shaped the politicization to census in Nigeria? (2) What are the implications of the politicization of census in Nigeria for national development? 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