Coporate Accounting Research Paper Example | Topics and Well Written Essays - 1000 words

Coporate Accounting - Research Paper Example There are instances in which the subsidiary and the holding company prepare their financial statements using conflicting policies and principles. In these cases, the parent company has the responsibility of making the necessary adjustments in order to have the subsidiary statements restated to become uniform to that of the holding company. This has to be done before the line-by-line consolidation of summing the respective asset and liabilities are done to arrive at the consolidated figure (Deegan, 2010). A breach of this accounting requirement will mean that the financial statements are inconsistent with the set principles, hence making them unreliable and untrue. Consolidation of inventory will be used to show how the adjustments should be done. AASB 102 demands that inventory be measured using the lower of cost and net realizable value to ensure that the financial statements are not over or under valued. The cost here includes the purchase price, import costs and any cost incurred to bring the stock to its current state. Inventory should also be tested for impairment in order to avoid possible overstatement in the financial statement. In case the subsidiary accounts for stock by violating this requirement, the holding company will have to do the necessary adjustment to ensure that the value posted in the financial statements are uniform. ... The second financial statement asset that is susceptible to errors during consolidation is property, plant, and equipment. The property, plant, and equipment are the long-term assets of the business that are utilized in the production of goods or delivery of services in order to earn revenue to the business. Accounting standard requires that in reporting the value of this item in the balance sheet, depreciation be subtracted from the purchase price to arrive at the net value (Deegan, 2010). Similarly, companies should test the property for impairment and expense any impairment losses in the income statement. The impairment value will also be used to reduce the value of the asset in the statement of financial position. It must, however, be noted that in calculating the depreciation amount, the holding company and its subsidiary might use different measurement bases. Depreciation can either be calculated using the straight-line basis or the reducing balance method. The holding company will, therefore, have to make adjustment to have the depreciation value determined using same method. For example, if the holding company calculates its depreciation using the straight-line method while the subsidiary does the same by the use of reducing balance, the parent company will have to adjust the depreciation values according to the straight-line method. The final consolidated value will then be determined by summing the net values of the property, plant, and equipment. In summary, adding the asset values that are arrived at by use of different measurement bases is inappropriate and violates the accounting rules and standards. The preparers of the financial statements must, therefore, make the necessary measurement adjustments before summing the respective assets and

Organization Development Consultant Plan for the Red Cross Essay Example for Free

Organization Development Consultant Plan for the Red Cross Essay The American Red Cross is dedicated to helping people in need throughout the United States. Most of the country may not realize how much the Red Cross accomplishes this noble calling through the dependency on the generous contributions of time, blood, and money from the American public to support their lifesaving services and programs. The American Red Cross also partners with other Red Cross networks, throughout the world to help some of the most marginalized and vulnerable populations. â€Å"Clara Barton and a circle of her acquaintances founded the American Red Cross in Washington, D. C. on May 21, 1881† (Red Cross, 2013d, para. ). Barton accomplished several overseas missions for the Red Cross but eventually came back to the United States and continued her domestic and global efforts for the next 23 years (Red Cross, 2013d). The Red Cross received their first congressional charter in 1900, and the second in 1905, which is still in effect today. The charter â€Å"†¦sets forth the purposes of the organization which includes giving relief to and serving as a medium of communication between members of the American armed forces and their families and providing national and international disaster relief and mitigation† (Red Cross, 2013d, para. ). Since 2006, the Red Cross and FEMA have partnered together to help various government agencies and communities plan and coordinate the provision of food and shelter for people affected by disasters (American Red Cross, 2013d, para. 8). Today, there are over a thousand local chapters throughout the United States (American Red Cross, 2013e, para. 3) that continue the mission of the American Red Cross, fueled by loyal volunteers and contributors. . Organizational Culture The culture of the American Red Cross is built on its dedication to a contemporary mission and vision statement which will guide it through the 21st century, along with seven fundamental principles. Stop  «Ã‚ »Mission Statement (Red Cross, 2013c, para. 1). â€Å"The American Red Cross prevents and alleviates human suffering in the face of emergencies by mobilizing the power of volunteers and the generosity of donors. † Vision Statement (Red Cross, 2013c, para. 2). The American Red Cross, through its strong network of volunteers, donors and partners, is always there in times of need. We aspire to turn compassion into action so that all people affected by disaster across the country and around the world receive care, shelter and hope; our communities are ready and prepared for disasters; everyone in our country has access to safe, lifesaving blood and blood products; all members of our armed services and their families find support and comfort whenever needed; and in an emergency, there are always trained individuals nearby, ready to use their Red Cross skills to save lives. The seven fundamental principles of the Global Red Cross Network consist of the following: Humanity, Impartiality, Neutrality, Independence, Voluntary Service, Unity, and Universality (American Red Cross, 2013c). These fundamental principles are used as a basic foundation in which to build from and guide all of the Red Cross communities across the globe; keeping everyone in tune with the core values and mission established by Clara Barton so long ago. The Board of Governors serves as the governing body of the American Red Cross, which has all powers overseeing and directing the leadership and management of the business and affairs of the organization. The corporate governance principles of the American Red Cross are found in the Congressional Charter and a series of documents that are reviewed periodically, by the Board of Governors, to ensure that they continue to meet the needs of the organization and reflect best practices (Red Cross, 2013a, para. 1).  In 2007, the American Red Cross devised a comprehensive governance reform that was signed into law by the President of the United States. This reform was an effort to modernize the Board, and provide a more clear oversight and strategic role for the Board. Highlights of governance reforms include: ensuring that Governance procedures provide clear guidance about expectations and enhance Board and individual Board member performance (American Red Cross, 2013a, para. 2). Organizational Leadership over Time The Chairman of the Board and the President and Chief Executive Officer (CEO), like most executives, play a significant role in the stabilization and future growth of the American Red Cross. The Chairman leads the Board of Governors in the oversight of the organization while the President and CEO implements strategic organizational development and leads the operations of the Red Cross. Currently, two women hold the honor of Chairman and CEO of the American Red Cross; Bonnie McElveen-Hunter and Gail McGovern, respectively (Red Cross, 2013b). â€Å"Ms. McElveen-Hunter is the former U. S.  Ambassador to Finland (2001 – 2003) and the CEO and owner of Pace Communications, Inc. , the largest private custom publishing company in the United States† (Red Cross, 2013b, para. 2) and was appointed as Chairman of the American Red Cross on June 17, 2004. â€Å"Gail J. McGovern was named President and CEO of the American Red Cross on April 8, 2008. After previously holding top management positions at ATT Corporation and Fidelity Investments†¦Ã¢â‚¬  (Red Cross, 2013b, para. 3). McGovern has extensive experience running large organizations and a proven track record for improving performance (American Red Cross, 2013b). Current Organizational Development Phenomena Since the inception of the new CEO, Gail McGovern, in 2008, the American Red Cross has undergone several structural changes in an effort to maximize the organizations impact with its available resources. According to McGovern, these efforts to â€Å"†¦improve operational efficiency, cutting unnecessary expenses, modernizing our technological systems, or standardizing blood collection labeling† (Red Cross, 2012, pg. 1) are all directed towards the goal of providing optimal care for those in need. Just in the last year two years alone, the American Red Cross has assisted the tornado victims of Joplin Missouri, which claimed more than 150 lives in 2011; helped those afflicted by numerous wildfires burning in various parts of the West; supplied aid to victims of floods in Florida, due to Tropical Storm Debby; provided much needed help to those living near the Northeast coast who suffered from extensive power outages and damage from Hurricane Sandy, and many, many more vital services that go largely unmentioned throughout the country (Red Cross, 2012). The American Red Cross, clearly, will never run out of work; which requires a leader that is creative, resourceful, dynamic, fluid, and up for complex challenges in an ever changing landscape. Organizational Development Needs The first step in approaching a national giant such as the American Red Cross is to obtain a meeting with current president and CEO, Gail McGovern, for a meaningful dialogue and assessment of her vision for the future of American Red Cross the brand, and American Red Cross the organization (i. e. employees, volunteers, contributors). Clear expectations and limitation on what the organization development consultant’s role will be during the process, as well as future follow-up assessments, must be defined. A well established theory of organizational development, tailored to the American Red Cross, must be adhered to. In this case, I recommend the socio-technical systems theory first developed by Eric Trist. This theory incorporates the idea that organizations are comprised of, and interdependent of, two systems: social and technical; realizing that changes in one cause changes in the other. This approach is best utilized by organizations that directly rely on their material means for their output, and at the core of their existence lays an almost indecipherable difference between their human and non-human systems (Van de Ven Joyce, 1981). Together, the consultant and the CEO will determine how these two components (social and technical) interact within and around the American Red Cross organization, and assess feedback and synergy between the systems for optimal effectiveness. Secondly, a data gathering method must be decided upon to obtain the most relevant and accurate information for basing an organizational strategy upon. There are several methods available, each with inherent positive and negative considerations. However, the CEO must establish what types of information the consultant may and may not have access to; this will limit the choices of methods available. For a national organization that is also a part of a global organization, such as the American Red Cross, a survey/questionnaire is recommended, which focuses on the current climate of the cultural perceptions of the organization by the employees and volunteers. This method allows a consultant to quickly yield data, address a broad range of topics, compare the data across groups, maintain anonymity, and easily repeat the process for follow-up purposes for the next two years and beyond. Other data gathering methods such as observation and focus groups are also recommended but with full disclosure and acknowledgement that they are both time-consuming and limited for a national organization; consideration should be given to reserve these methods for upper-level management as needed (Anderson, 2012, pp. 119-150). Once the information desired is agreed upon with Gail McGovern, then the method and design of the data gathering tool can be implemented. Next, gathering and interpreting the data correctly to ensure maximum benefit for the proposed intervention(s) is critical. I suggest using a detailed system of deductive analysis that makes coding data easier, helps with data interpretation, and communicating it to the client. It would also be useful to also incorporate inductive analysis as well to pull out key themes that may be evident (Anderson, 2012, pp. 19-150). Once, this is done, a feedback meeting, with Gail McGovern, should be set up to discuss the results derived from the data, proposed intervention(s), and strategic planning. Keep in mind, however, the data should be reviewed at least one more time prior to the meeting to ensure that it accurate, and has not violated any established ethical considerations. This attention to detail cannot be emphasized enough as the interpretation of th e data unveils the strengths and weaknesses of the organization. This, in turn, will directly affect the stability and future direction of the organization as it strives to grow and thrive in a vastly competitive environment over arguably shrinking economic resources. Organizational Development Recommendations Based on the results and interpretation of the data, intervention(s) may be suggested that are in line with Gail McGovern’s vision for American Red Cross; a vision for stability and increased revenue and partnerships (Red Cross, 2012). Therefore, I would turn your attention to the Kotter’s Model (Kotter International, 2012) as a step-by-step guide for a national organization, with a global reach, that embraces change and is ready to whole-heartedly commit to such a program that is proven to yield incredible performance benefits when followed long-term (see both Chart 1 and Chart 2-pg. 12). Implementing step one is vital, developing a sense of urgency (Kotter International, 2012). The CEO must develop a sense of urgency, regarding her vision for the future of the American Red Cross, amongst the employees, volunteers, and contributors. This is accomplished by first determining the current climate of the organization through the data gathering methods mentioned previously, which establishes a base-line from which to monitor progress, and then devising organization strategies (media, social-media, print-media, etc†¦) to disseminate the vision quickly and develop the sense of urgency necessary. The second step of Kotter’s Model involves putting together the right coalition of people to lead a change initiative which is critical to the success of McGovern’s vision for the future (Kotter International, 2012). The American Red Cross currently has a stellar mix of dedicated people at the highest levels. However, objective observation and analysis of upper-level team meetings is recommended in order to evaluate current synergy, or lack thereof, and add team building workshops as needed to address and facilitate trust, relationship building, communication and collaboration across various branches of the organization. In a rapidly changing world, complex organizations, such as the American Red Cross, are forced to make decisions more quickly and with less certainty than they would like. Effective leaders must make productive decisions under these ircumstances; therefore, it is paramount that all of the teams develop a level of trust in one another. The third step involves establishing a clear vision which serves three important purposes (Kotter International, 2012). A clear vision simplifies the complex, motivates people, and helps implement the actions efficiently. McGovern must be unmistakably clear in stating her vision for the American Red Cross, the path in which the organization must follow to be successful in accomplishing the vision, the expectations of each leader who reports directly to her, the benchmarks for measurement of progress, and a method for objective follow-up. The fourth step is gaining an understanding and commitment to a new direction (Kotter International, 2012). This step is imperative to core of the vision. In order to establish an understanding and commitment to the new vision for the American Red Cross from the current leaders, McGovern must commit herself to communication in all ways, and at every level of the organization possible. Multiple channels of communication must be used to enforce the message of the vision, and up-dates on the progress, frequently to keep everyone aware of the goal, and their importance to the overall success of the organization. This can be accomplished in various ways, such as: daily motivational huddles (15 minutes or less to focus on the days objectives), monthly meetings to maintain continuity, quarterly newsletter to monitor progress, yearly meetings with upper-management to communicate goals and celebrate achievements. The fifth step involves empowering broad-based action (Kotter International, 2012). Having a clear and realistic understanding that creating a new vision, and establishing new cultural norms, is not without its obstacles is essential to McGovern as she attempts to realign the American Red Cross with her vision. Implementing proven management problem-solving methods, as well as on-going training is crucial. Furthermore, all action plans must be analyzed in order to ensure that management has all of the necessary tools and up-to-date information for successful implementation of the change vision. Lastly, utilizing electronic surveys help to speed up feedback and provide information for people to do their jobs more efficiently.

Malcolm X Essay -- Biography

Malcolm X   Ã‚  Ã‚  Ã‚  Ã‚  The history of the United States has in it much separation or segregation due to race. For a long time our country has seen racism as a large problem and this has caused ethnic groups to be looked down upon or forced into a lifestyle of difficulties and suppression. Due to this, races, particularly African-Americans, have been forced to deal with unequal opportunity and poverty, leading to less honorable ways of getting by and also organizations that support change. Malcolm X is one strong example of a colored man who fell into this type of hate and acted against it, uniting people to promote the advancement of colored people and change.   Ã‚  Ã‚  Ã‚  Ã‚  At a young age, Malcolm saw the ways in which blacks were seen as inferior, when his father supported an organization that promoted the return of blacks to Africa. Malcolm watched at a young age while the Klu Klux Klan burnt down his family’s house, he also knew of his grandmother being raped by a white man, which caused his mother’s light skin and his red hair. His father was killed when six white men beat him to death because they did not like what his father was doing in his organization. This was the early stage in like in which Malcolm’s hatred of white people begins. I believe that the high point of Malcolm’s hatred for white people comes when the welfare agency declares his mother insane and institutionalizes her, causing his family to be split apart. Malcolm blames the welfare agency for splitting up his famil...

Characters Effect on a Reader Essay

Characters dealing with a situation affect each reader differently. The characters reaction to a situation may have a reader feel exactly as the character does, or in some instances, the reader may look more at how differently they would feel in the same situation. In an attempt to answer Henry James on how characters are only as interesting as their response to the particular situation we will look at â€Å"The Chrysanthemums† by John Steinbeck and â€Å"To Build a Fire† by Jack London. In â€Å"The Chrysanthemums† we are introduced to Elisa Allen at her ranch working in her garden. She is described in the story as: â€Å"She was thirty five. Her face was lean and strong and her eyes were clear as water. Her figure was blocked and heavy in her gardening costume, a man’s black hat pulled down over her eyes, clodhopper shoes, a figured print dress almost completely covered by a big corduroy apron with four big pockets to hold the snips, the trowel and scratcher, the seeds and the knife she worked with. She wore heavy leather gloves to protect her hand while she worked. †(Steinbeck 242) This detail gives the reader the mental picture of Elisa. The description makes it easy for the reader to know exactly what she looks like. Being around the outdoors and growing up on a farm helps me in picturing how a busy female rancher would look. This sets up the reader for when the wagon pulls up. As the gentlemen from the wagon talks with Elisa in attempt to get her to purchase work from him, I felt there was sexual tension between the two. Elisa attempts to hold her ground in the hopes he would just go away, but he finally breaks through to her by showing interest in her Chrysanthemums. By showing that they had something in common, the gentlemen is able to break the guard Elisa had put up, and she in turn, gives him work to do by fixing old saucepans. Once the gentlemen leaves, she runs into the house and begins to bathe almost in a way to remove the dirty thoughts. Once out of the bath, she takes her time looking at herself in the mirror and getting dressed; almost as if the thoughts were coming back, all to go away when she heard her husband returning. That is the way I felt towards Elisa Allen’s character. I am not sure if that is the intended way the author meant. Trying to look at the story from the author’s point of view, I almost see Elisa looking at the wagon as a way of freedom from where she has perfected her Chrysanthemums and looking for something new in her life. Early in the story, her husband jokingly asked about going to the fights and she quickly declined, but towards the end, after her encounter with the traveler, she started questioning how the fights were. It is almost as if she was looking for something different, something that would give her a sense of adventure to take her away from the monotony of her boring life. In the end she declines the opportunity and the author shows us she has accepted the reality of her life being boring with this excerpt: â€Å"She relaxed limply in the seat. â€Å"Oh, no. No. I don’t want to go. I’m sure I don’t. † Her face was turned away from him. â€Å"It will be enough if we can have wine. It will be plenty. † She turned up her coat collar so he could not see that she was crying weakly – like an old woman. †(Steinbeck 249) Either way it was perceived, the character shows that there is something in her life she is missing and she attempts to fulfill it with the Chrysanthemums. Other readers may find different ways of seeing how Elisa Allen may feel in this story. Without the description of how she was, and the way she reacted to the fights, this may have been a boring story because it would have lacked the information about the character to make her interesting enough for the reader to wonder about her. Next, we will look at â€Å"To Build a Fire†. Right from the beginning the character has no name, only referred to as â€Å"the Man†. This gives the reader the chance to put themselves in the story. By not giving the character a name, it allows the reader to fall into the pages, especially with how descriptive the setting is. Each detail brings more and more bitterness on how cold it is. With this cold comes the overconfidence of the man: â€Å"Fifty degrees below zero was to him just a precisely fifty degrees below zero. That there should be anything more to it than that was a thought that never entered his head. †(London 128) This overconfidence leads the man down a path to death. My experiences in scouting and life have taught me to respect Mother Nature and never take her for granted. This also allowed me to put myself in the same situation in the story and imagine all the things I would have done differently. The man’s attitude was that cold is cold, no matter the temperature, and his knowledge will get him through his lack of experience. I became more frustrated with his actions, as I knew he was dealing with each situation incorrectly. As the story progressed, there was continued hope that his luck wouldn’t run out, but in the end, his handicap of ignorance led to his demise. A reader that has never been in this type of situation may not have understood the severity of the situation and would only be able to see from the eyes of the man. It is also possible for a reader to feel the frustration of him dealing with each of the problems he came across. If the man’s confidence was not as great, there would have been more thought to the situation, and he may have listened to what advice had been given. It may have also led to the man making different choices, or allowing himself some humility and turned around. This confidence allows the story to be thought of from a point of view that anyone could be put in a similar situation and that any daily life situation can cause our confidence to sometimes gets the best of us. We always think we know more that we do. â€Å"All a man had to do was keep his head, and he was all right. Any man who was a man could travel alone. †(London 132) This excerpt is a perfect example as shortly after this, the snow falls on the fire and the man admits his mistake. This would have not happened if the man’s confidence had not got the best of him. Additionally, the entire story would have changed, and the character would have had better chance if he would have thought things through or if he would have had someone else traveling with him. Both of these stories can be interesting to the readers from their own personal experiences, or quite simply by the details the authors publish. If the characters would have dealt with the situations differently, or the details of the characters, then they would have been boring. I believe that this easily answers Henry James because the details allowed my thoughts to wander and kept me interested on what would happen next. Works Cited Steinbeck, John. â€Å"The Chrysanthemums. † Literature: An introduction to fiction, poetry, drama, and writing. 12th ed. Kennedy, X. J. , and Gioia, D. New York, New York 2013. Pearson. pp 242-249 London, Jack. â€Å"To Build a Fire. † Literature: An introduction to fiction, poetry, drama, and writing. 12th ed. Kennedy, X. J. , and Gioia, D. New York, New York 2013. Pearson. pp 127-146.

Biodegradable Plastics from Cassava Starch

EWB-UK Workshop Guide Make your own Bio-Plastic Description A workshop focusing on the problems of plastics made by fossil fuels and a look into making your own bio-plastic. At a glance Total time: 1 hour Learning Styles: Visual, auditory, practical, participatory, teamwork Objectives: To learn about the challenges facing fossil fuel plastics and how to make your own bio-plastic Audience: Anyone Max/Min no. of participants: N/A (Dependant on amount of materials) Timetable Time| Activity| Equipment| 5 minutes| Welcome | | 15 minutes| Introduction| | 30 minutes| Practical| See material and tools list| minutes| Closing| Sign-ups for email| Materials Per batch of bio plastic (Ideally per person): * 100g of potato * 300cm3 of distilled water * 25ml of water * 3cm3 of hydrochloric acid or vinegar * 2ml pure glycerol * 3cm3 sodium hydroxide * Food colouring Tools * Grater * Pestle & Mortar * Strainer * Beaker/Jars * Measuring cylinder/jug * Weighing scales * Indicator Paper * Portable hob P reparation * Prepare equipment, tools and materials * Prepare sign-up sheets for new members Room requirements * An area suitable for doing hands on work and mixing liquids * Kitchen for source of heat.Use portable hobs if this isn’t possible Welcome (5 minutes) Introduce yourself: * Your Name * Position/Job/Organisation * Your role in the workshop * Relevant experience to the workshop (University, projects, work etc. ) Explain the learning objectives of the workshop to the audience: The purpose of the workshop is for participants to learn about the problems surrounding plastics made by fossil fuels. This is done in the introduction presentation. Afterwards, participants get to make their own bio-plastic in a hands-on practical. Participants will be able to take the plastic home with them at the end of the workshop.Introduction (15 Minutes) A presentation on the challenges facing fossil fuel plastics. Plastic is the common term used for a variety of synthetic or semi syntheti c materials used in manufacturing. Plastics are traditionally made from polymers and normally created from petroleum products. Plastics have become so popular to do their advantageous features. They are malleable, versatile and very cheap compared to other materials. The problem with plastics is their dependency on petroleum, i. e. oil. Currently about 8% of the world’s oil is used to make plastics.This is compared to 4% for raw materials and 4% for energy. The other major problem is waste; currently about 35% of litter is a plastic based product. Bio plastic currently offers one solution to the problem. Bio plastic is formed from renewable biomass sources such as vegetable oil or corn starch. Like conventional plastics; all bio plastics are biodegradable given enough time. However also like conventional plastics; some bio plastics take so long to degrade they are considered non-biodegradable. A significant number of bio plastics will only biodegrade given very specific condi tions.Most people assume the term bio plastic means it will biodegrade; it actually refers to its biomass source. This leads to the advantages and disadvantages of bio plastics: Advantages: They are made from plant based sources so don’t use any fossil fuels. Disadvantages: The majority of bio plastic manufacturing plants use oil or fossil fuels to power them. Currently there is still a need for fossil fuels for a large scale plant. When growing resources for bio plastic it can create large scale mono-cropping problems. This can lead to the destruction of areas like the rain forest.The solution is to produce bio plastic on a small scale with biodiversity in mind. The crop should be sustainable and the process should renewably powered. One method for doing this is to produce bio plastic from locally grown potatoes. The chemistry bit: Potato starch is made from two carbohydrate polymers, amylose and amylopectin. To make bio plastic the amylopectin needs to be broken down. This way the starch can be plasticised. For a more technical audience you may choose to extend this section and continue further with the science behind the process. Further reading will be required however.Practical (30 minutes) The step by step instructions for making the bio-plastic For making bio-plastic highly accurate measurements are not required 1. Grate about 100g of potato into a pestle & mortar 2. Add 100cm3 distilled water to the potato and grind in a pestle and mortar 3. Strain the liquid off, and repeat adding distilled water, grinding and straining twice more. 4. Leave to settle for 5 minutes 5. Strain the water off, leaving the starch behind. 6. Put 25ml water into a beaker and add 5g starch (10g wet) and 3cm3 hydrochloric acid (Use vinegar if you can’t get hold of it) and 2ml pure glycerol. 7.Bring to the boil for 15 minutes, ensuring it doesn’t boil dry 8. Using indicator paper and sodium hydroxide to neutralise the solution (probably about 3cm3). 9. Add a few drops of colouring to the mixture and mix in. 10. Pour the mixture out, and mould into your preferred shape. 11. Leave to dry out and set. Once the mixture sets the plastic is complete. The amount of glycerol used affects the stiffness of the mixture. The less glycerol used the stiffer the plastic will be. Closing (5 minutes) Final few words: * Announce next event or meeting * Distribute sign up lists (If applicable) * Open the floor to questions